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MIXED MARKETS AWAIT NEW DEVELOPMENTS

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World markets have been mixed overnight as investors digest recent developments related to COVID Wave 2 (vaccine rollouts versus new/increased lockdowns) while awaiting the start of US earnings season later this week, and Joe Biden’s inauguration as US President next week.

It’s a light day for both economic news and corporate news. A couple of FOMC members are speaking today and weekly oil inventories are due later on but the main data reports (trade and retail sales for the US and China) aren’t due until Thursday-Friday.

This morning finds US index futures bouncing 0.2%-0.3%, clawing back some of yesterday’s 0.3%-1.3% losses. In Europe today, the Dax is down 0.1% while the FTSE is down 0.6%. It was a good day for Chinese markets with Shanghai rallying 2.0% and Hong Kong climbing 1.3% but the other major Asia Pacific indices were flat to down slightly.

In commodity action today, WTI and Brent Crude Oil are up 1.1%-1.3% ahead of weekly inventory numbers due later today and tomorrow. Copper is up 1.2% while Platinum is up 2.0%. Gold and silver are steady today.

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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