Morning Minutes

Commodities Climb, Stocks Slide in Mixed Trading




With no new business news of note to move the markets, overnight action has been indecisive. Coming off a positive day for equities that saw US indices climb 0.75% to 2.00%, Asia Pacific stocks soared with the Nikkei gaining 3.0% and the Hang Seng rising 1.2%. Momentum has faded in a mixed European morning where continental indices are down led by a 0.8% drop for the Dax, while the FTSE is up 0.1%.

US index futures are down 0.3%-0.6% with the 10-year treasury note yield rising above 2.35% providing a headwind. Rising traded US rates have helped the US Dollar this morning to climb 0.5% against the Pound, 0.4% against the Euro and 1.4% against Bitcoin. The resource-sensitive Canadian and Australian Dollars are holding their ground, while gold is up 0.4%.

Commodity prices are on the rise again today led by Energy where WTI and Brent crude oil are up 2.8%-3.0%, natural gas is up 2.1% and gasoline is up 1.6%. On the metals side, copper and Silver are both up about 1.0%.

Economic news picks up overnight and into tomorrow morning with the release of flash Manufacturing and Service PMI reports for several countries including Japan, Germany, France, the UK and the US.

Subscribe to the Morning Minutes:

Today's earnings reports and market activity, delivered right to your inbox.

Colin Cieszynski, Chief Market Strategist

Colin Cieszynski, CFA, CMT
Chief Market Strategist
+1 (647) 282-4428

Read More

Legal and Regulatory Disclosures

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.