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China Data and Summit In Focus; Webinar Tomorrow

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Equity markets around the world are off to a positive start this week. Building on Friday’s 1.0% gain for the NASDAQ, US index futures are up 0.2%-0.3% this morning. Overseas, the FTSE and Nikkei are up 0.5%, while the Dax and Hang Seng up 0.2%. In commodity action, WTI crude oil has dropped back under $80.00/bbl and fallen 1.4% on continuing speculation that the US may need to tap into its Strategic Petroleum Reserve in a bid to add supply into the market and keep a lid on energy prices heading into the winter.

Investors have responded positively to overnight economic numbers out of China where retail sales (4.9% vs street 3.5%) and industrial production (3.5% vs street 3.0%) beat expectations. China remains in the spotlight with President Xi holding a virtual summit with US President Biden as the two sides look to reduce friction over trade, tariffs, Taiwan and transportation (particularly supply chain problems).

Retail sales remains in focus through this week with Black Friday, the busiest shopping day of the year in the US less than two weeks away, and the monthly US retail sales report due on Wednesday. US retailer earnings season kicks off this week starting with results from Walmart and Home Depot tomorrow. Canadian grocers also report results this week.   

SIA Wealth New Video Launch and Market Outlook Webinar Tuesday November 16th, 2:00 pm EDT

Please join us on Tuesday, November 16 @ 12pm MT / 2pm ET for our Market Outlook Webinar with Colin Cieszynski, Chief Market Strategist. We will be answering the Top 5 most asked questions by advisors over the past month.

A premiere of our newest video will be shown – Competition – on how our ranking system utilizes relative strength to compete in the markets.

The link to register for the webinar:

https://register.gotowebinar.com/register/9052896468859613711

After registering, you will receive a confirmation email containing information about joining the webinar.  A replay will be available and sent to all registrants after the webinar.

Disclaimer: 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. SIAWM 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.

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At SIA Wealth Management everything we do is based on Relative Strength Analysis. We evaluate the Relative Strength between asset classes giving us insight into money flows on a large scale, and from this select top ranked investments.

Colin Cieszynski, Chief Market Strategist
Market Commentary:

Colin Cieszynski, CFA, CMT
Chief Market Strategist
ccieszynski@siawm.com
+1 (647) 282-4428

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