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Mixed Markets Await Earnings Season Start

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The last day of trading before tomorrow’s kickoff to US earnings season finds US index futures mixed between a gain of 0.4% for NASDAQ futures and a loss of 0.4% for Dow futures as investors digest Friday’s gains of 1.0% to 1.3% for the 3 main US indices and a 2.1% rally for the small cap Russell 2000 Index. Commodities are down this morning with WTI and copper both falling about 1.4%.

US earnings reports get underway this week with a focus on the banking sector. Tuesday brings results from JPMorgan Chase, Goldman Sachs and Pepsico, followed by Citigroup, Bank of America, Wells Fargo, Blackrock and Delta Air Lines on Wednesday. In addition to the headline numbers, investors may look to the banks for comments on the pace of the US economic recovery, loan loss provisions, and the restoration of dividends and share buybacks (for any banks that didn’t do so already after passing Fed stress tests in late June).

A big week for Chinese economic data starts tonight with monthly trade numbers, followed by Q2 GDP, industrial production and retail sales late Wednesday night.

July central bank meetings have historically been dull affairs coming in the middle of summer vacation season, but investors may look to statements from the Reserve Bank of New Zealand Tuesday, the Bank of Canada Wednesday or the Bank of Japan late Thursday night for insights into how their economies have fared through recent/ongoing lockdowns.

SIA Wealth Market Outlook Webinar Tuesday July 13, 2:00 pm EDT

Please join us on Tuesday July 13 @ 12pm MT / 2pm ET for our Market Outlook Webinar with Jeremy Fehr.  He will answer the most asked questions we have received from advisors over the past month.

Register for webinar:  https://attendee.gotowebinar.com/register/2886200842082435855

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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