Morning Minutes

Mixed Markets Digest Earnings and Economic News

lumber

Share:

Facebook
Twitter
LinkedIn
Email
Print

Equity markets are giving back some of yesterday’s gains this morning.US index futures are down 0.4% to 0.8% coming off a mixed Monday which saw the Dow Industrials climb 0.7% but the NASDAQ Composite fall 0.5%. In Europe, the Dax is down 1.4% while the FTSE is up 0.1%. Asia Pacific trading saw the Hang Seng climb 0.7% but the Nikkei slide 0.8%. Commodities are also mixed today with WTI crude oil up 1.1% but copper down 0.4%.

Although market action suggests indecisiveness among investors, corporate earnings continue to come in well ahead above expectations. Highlights of today’s US results include Pfizer ($0.93 vs street $0.77), Dupont ($0.91 vs street $0.86), and CVS Health ($2.04 vs street $1.72). Later today, results are due from Suncor Energy, Lyft and Prudential.

Recent gains in forest products prices appear to have sparked some takeover interest in the sector. Domtar jumped about 16% in aftermarket trading last night on press reports that Canada’s Paper Excellence is exploring a going private takeover bid for the paper producer.

Its a quiet day for economic news where the main report was that Canada posted a surprise trade deficit (-1.14B vs street +0.7B). Yesterday’s US and Canadian manufacturing PMI reports came in well above 50 but slightly below expectations, the most troubling part of which was that the inflation (prices paid) component of the US report was higher than expected. US factory orders for March are due at 10:00 am EDT (street 1.3% vs previous -0.8%). Tomorrow morning brings US ADP private sector payrolls at 8:15 am EDT (street 810K vs previous 517K) and service PMI reports from countries around the world.

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