Morning Minutes

Crude Oil and Stocks Continue to Rebound




After last weekend’s fireworks surrounding the First Republic failure and takeover (yes it has only been a week), investors appear to be taking a “no news is good news” approach to the US banking crisis for now. PacWest Bancorp is up 36.1% in premarket action, building on Friday’s 81.7% bounce after management indicated its business remains fundamentally sound and limited a dividend cut to one cent.

It’s an otherwise quiet start to the week for economic and earnings news, leaving investors to continue digesting last week’s positive employment and earnings reports. The main economic events for the first half of this week are China trade numbers tonight and US Consumer Prices on Wednesday morning.

We are now past the peak of earnings season in the US, with the most notable reporters this week being AirBNB and Electronic Arts on Tuesday, followed by Walt Disney on Wednesday. It’s a big week for earnings in Canada, headlined by the major insurance companies. Canadian headliners include Great-West on Tuesday; Manulife and Nutrien on Wednesday; Sun Life and Canadian Tire on Thursday and Air Canada on Friday.

Commodities are on the rebound this morning with WTI Crude Oil rallying 2.8%, Copper climbing 1.6%, and Platinum gaining 1.0%. Gold is up 0.25%. US Index futures are trading flat to up 0.25% as they consolidate Friday’s rallies of 1.6%-2.2%.  In Europe, the Dax is up 0.15%, the FTSE is closed for a holiday.

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.