Markets Digest Payrolls and Earnings

Overnight trading has been mixed, with a number of markets moving in opposite directions. The underlying theme appears to be capital continuing to rotate from more aggressive positions toward defensive stances.

In US index futures trading, the growth-oriented NASDAQ is down 0.2%, while the value-oriented Dow is up 0.3%. In currency markets, cryptocurrencies remain under pressure, with Bitcoin down 0.6% and trading near 52-week lows around $75,000. Meanwhile, precious metals are rebounding for a second straight day, with Gold up 2.8% and Silver up 8.8%.

European equities are also mixed, with the FTSE higher by 1.2% and the DAX lower by 0.4%. In commodity markets, Crude Oil is up 0.3%, while Copper is down 1.2%.

US ADP payrolls were disappointing this morning, as this month’s figure came in below expectations (22K vs Street 48K), while last month’s number was revised lower (37K vs previous 41K).

It is another busy day for earnings. Advanced Micro Devices* beat expectations ($1.53 vs Street $1.32), though guidance came in soft. Overseas, Novo Nordisk and Nintendo are under pressure following their earnings reports. Results are due after the close today from Alphabet*, Qualcomm, MetLife, and Allstate.

*Shares of Alphabet and Advanced Micro Devices are held in portfolios managed by SIA Wealth Management.

Share:

Read More:

Terms and Conditions:


This information is for Investment Advisors only. The website is for informational purposes only and is not intended to provide a complete description of SIA Wealth Management’s products or services. Past performance is not indicative of future results. It should not be construed as investment advice or relied upon in making an investment decision. Products and services of SIA Wealth Management are only offered in jurisdictions where they may be lawfully offered for sale. The information contained in this Website does not constitute an offer or solicitation by anyone to buy or sell any investment fund or other product, service or information to anyone in any jurisdiction in which an offer or solicitation is not authorized or cannot be legally made or to any person to whom it is unlawful to make an offer of solicitation. All products and services are subject to the terms of each and every applicable agreement. It is important to note that not all products, services and information are available in all jurisdictions outside Canada.

SIA Wealth Management Inc. (SIAWM) specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investor’s investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, Advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIA Wealth Management Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.