Morning Minutes

Indices Keep Sliding on Monthly Options Expiry Day

materials

Share:

Facebook
Twitter
LinkedIn
Email
Print

With economic and corporate news flow still seasonally quiet, and nothing else to distract them going on, investors still appear to be clinging to Wednesday’s slightly-less-dovish than thought Fed projections in interest rates. In the absence of new developments, US indices have continued their downward drift into this morning.

US index futures are down between 0.6% for NASDAQ futures and 1.0% for Dow Futures. European markets are also in retreat with the Dax and the FTSE both down about 1.4%. Energy and metals trading is mixed today with WTI crude oil down another 1.1%, copper flat as it digests yesterday’s plunge, and gold bouncing back 0.5%.

The only corporate news of note was earnings from Adobe ($3.03 vs street $2.84), which came in better than expected.

Being the third Friday of the month, it’s the last day of trading in monthly options which could influence action in selected stocks. Other than that, markets appear to be marking time and waiting for earnings season to start in July as is seasonally common at this time of year.

New Video: SIA Wealth April Webinar Replay

A replay of yesterday’s SIA Wealth webinar which included an update on True Tacticaltm investing, and market insights from SIA Wealth Founder and CEO Jeremy Fehr is now available.

GoToMeeting Version: https://attendee.gotowebinar.com/recording/835408250960295175

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
ccieszynski@siawm.com
+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.

INTERNET EXPLORER NOTICE