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Mixed Markets Await Quadruple Witching, Canada Election and Big US Meetings

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Stock markets around the world are mixed heading toward the weekend. The Hang Seng bounced back 1.1% overnight but finished a tough week below 25,000 and down 4.7% from last Friday. Sydney still struggled, falling 0.7% while in Europe, the Dax is down 0.3% and the FTSE is flat. US index futures are down marginally.

In commodity action, China-sensitive copper bounced back 1.6%, while auto-sensitive platinum rebounded 1.9%. Energy markets are retreating again post-hurricanes with natural gas falling 1.1% and WTI crude oil falling 0.6%.

It’s Quadruple Witching Day when futures and options on stocks and indices all expire together, a situation that sometimes leads to volatility late in the day as investors square positions. We may also see investors adjust positions ahead of a number of government related events over the next few days.

Today an advisory panel at the FDA meets to discuss whether or not to push forward with COVID vaccine booster shots ahead of a similar advisory meeting at the CDC next week, both of which could influence sentiment toward vaccine stocks and other COVID impacted sectors. President Biden has indicated he would like to start widespread boosters as soon as Monday.

Monday is also the Canadian Federal election which is still looking like a close race with the potential to deliver another minority government. Policy differences related to energy, real estate, vaccine passports and other areas could influence sentiment toward related stocks.

A little farther out on the horizon next Wednesday brings the latest Fed monetary policy and statement which investors may watch for signs of whether persistently high inflation may push the Fed to start hinting about tapering stimulus.    

New Video: SIA Wealth September 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, is now available.

YouTube Version: https://www.youtube.com/watch?v=n6m8ww_32aE

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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