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Inflation Numbers, GE Breakup and Central Bank Speeches In Focus

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US index futures are pretty much flat this morning trading between -0.2% for Dow futures and +0.1% for NASDAQ futures as markets consolidate yesterday’s new highs for major US indices. In Europe today, the Dax and the FTSE are also holding steady. Commodities are also on the rise again this morning with WTI crude oil up 0.5% and copper up 0.7%.

Investors appear to be waiting on economic news and comments from North American central bank leaders today. Bank of Canada Governor Macklem, Fed Chair Powell, Fed Vice Chair Williams, and two other FOMC members are speaking at various times between late morning and this evening. Investors may look to these speeches for updates on economic conditions, inflation pressures and hints on whether they are maintaining or plan to accelerate their current stimulus reduction programs.

Speaking of inflation, US producer prices came in slightly lower than expected (8.6% vs street 8.7) but it’s too early to say if inflation increases have paused or peaked. Inflation numbers for China come out tonight, followed by US consumer prices tomorrow.

On the corporate side, today’s biggest news is that conglomerate General Electric is planning to break itself up into three companies, keeping the aviation business in house while planning to spin off the health care business in 2023 and the electricity business in 2024. GE shares are up 8.3% in premarket trading.

SIA Wealth In The Media:

Chief Market Strategist appeared on BNN Bloomberg recently where he discussed Rogers Communications and gave a market preview for November including comments on earnings and seasonality.

Rogers has been underforming relative to other Canadian stocks since spring 2019: Colin Cieszynski

Investors coming into the market on the back of strong earnings is a sign of strength: Colin Cieszynski

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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