Morning Minutes

Markets Stabilize on US Juneteenth Holiday




It’s the first time that the new US Juneteenth holiday is being celebrated. US exchanges are closed today and futures close at 9:15 am EDT.

Building on a mixed Friday that saw the NASDAQ climb 1.4% and the Dow dip 0.1%, US index futures are up 0.6%-0.8% this morning. Perhaps more importantly, trading in commodities and currencies has stabilized while markets digest Friday’s Quadruple Witching action and await more leadership from the US tomorrow.

Cryptocurrencies have rebounded this morning with Bitcoin up 2.0% and trading above $20,000 after dropping below that key level over the weekend. Gold and the US Dollar have stabilized enabling the Euro, Pound and Canadian Dollar to gain 0.2%-0.4%. Commodities are mixed today. WTI crude oil has stabilized near $110.00/bbl and is up 0.7% while natural gas is down 2.5% and copper is down 1.0%.

The housing and construction sector of the economy may attract some attention this week with two US homebuilders reporting earnings and housing data dominating the North American economic calendar. Canadian retail sales are due Tuesday followed by Canadian consumer prices on Wednesday. Thursday brings Flash PMI reports from around the world, the first peek at economic conditions in June so far and stress test results for US banks.

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:

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.