Morning Minutes

Markets Remain Mixed as Investors Stress Over Tests and More Rate Hikes

Panoramic Jakarta skyline with urban skyscrapers in the afternoo

Share:

Facebook
Twitter
LinkedIn
Email
Print

Global market action has been mixed overnight and into this morning. Bouncing back from small declines yesterday, US Index futures are up 0.4%-0.8% this morning, but in Europe, the Dax is down 0.6% and the FTSE is down marginally. Commodities are down again this morning with WTI crude oil falling 0.2% and copper dropping 2.5% after Norway’s Norges Bank announced a 0.50% interest rate hike to 1.25%, indicating that central banks around the world remain hawkish and focused on getting inflation under control.  

Flash PMI reports from around the world, the first look at June economic conditions have been mixed so far. For the most part, manufacturing and services reports have been in the low to mid 50s indicating a slightly expansionary world economy. Results from Australia were better than expected, the UK and Japan were split relative to expectations, while Germany and France came in slightly below expectations. US Flash Manufacturing (street 56.0 vs previous 57.0) and Flash Service (street 53.5 vs previous 53.4) PMI numbers are due at 9:45 am EDT today.

The main event of the business news calendar for the week arrives this afternoon with stress test results for big US banks due at 4:30 pm EDT after market close. While positive results could help to shore up investor support, the ability of banks to withstand economic or monetary headwinds could also give the Fed the green light to continue raising interest rates. On the other hand, any signs of mounting difficulties could raise a whole other set of questions.

SIA Wealth In The Media:

Chief Market Strategist Colin Cieszynski recently appeared on BNN Bloomberg today where he discussed current market conditions, the summer outlook, and investing strategies in a rising interest rate environment. We are growing our cash position: Colin Cieszynski

New Video: SIA Wealth June Market Outlook Webinar Replay

A replay of the SIA Wealth Market Outlook Webinar with Colin Cieszynski – Chief Market Strategist, answering the most asked questions we have received from advisors over the past month, including: defensive versus tactical investing strategies, the state of the economy and markets heading into summer, and past experience in US midterm election years – is now available.  YouTube Version: https://youtu.be/ZEhJwIrM9pk

– By Colin Cieszynski, CFA, CMT, Chief Market Strategist, SIA Wealth Management

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