Morning Minutes

Focus Is Back On Earnings and Economy; Webinar Tomorrow




Yesterday’s relief rally in easing Ukraine tensions continued through Asia Pacific trading overnight, where the Nikkei soared 2.0%, but has faded this morning as investors turn their attention back to regular business news. US index futures are down about 0.2%, while in Europe, the Dax is down 0.2% and the FTSE is down 0.4%.

Currency action is quiet today except for a 0.3% gain by the Canadian Dollar against the US Dollar which may be getting a tailwind from a big rebound in energy prices. WTI crude oi is up 1.25%, while natural gas has jumped 6.8%. Gold and Bitcoin are both down about 0.2%.

A couple of big economic announcements are out today. US retail sales had a stellar month in January bouncing back from a weak December (3.8% vs street 2.0% and previous -2.5%), a positive sign for the North American economy. Inflation pressures remain high, however, as Canadian consumer prices increased more than expected (5.1% vs street 4.8%).

It’s a big day for earnings reports, especially in Canada, headlined by Shopify who beat expectations on earnings ($1.36 vs street $1.26), but is down 6.1% in premarket trading after management indicated it expects sales growth to slow this year as online pandemic shopping fades. Barrick Gold beat expectations ($0.35 vs street $0.30), but West Fraser Timber indicated that December’s landslides and road/rail closures impacted its operations and sales.

US results were very mixed. In the hotel/casino space, AirBnB beat expectations but Hilton and Wynn disappointed. Roblox and La-Z-Boy are also down premarket after missing expectations. Later today, results are due from tech giants Nvidia and Cisco, along with Nutrien, GoEasy, and Kinross Gold north of the border.

SIA Wealth Market Outlook Webinar Thursday, February 17th 2:00 pm EDT

Please join us on Thursday, February 17 @ 12pm MT / 2pm ET for our Market Outlook Webinar with Colin Cieszynski, Chief Market Strategist. We will be answering questions from advisors and media related to the impact of high inflation in North America and the risk of war in Europe on stock markets, sector rotation, real estate, energy prices and more.

The link to register for the webinar:

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.

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.