Morning Minutes

More Strong Earnings and True Tactical Webinar Replay

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Coming off of a one-day pause, US stock markets have resumed their upward course this morning. US index futures are up about 0.3% today while overseas, European markets are steady and the Hang Seng soared 1.9%.

Metals are soaring this morning with Platinum jumping 4.1% and Copper rallying 1.6%. Gold and silver are mixed, up 0.3% and down 0.3% respectively. In energy action, WTI crude oil is up 0.6% and natural gas is down 0.6%.

The main news developments overnight have been another flurry of earnings reports out of the US, most of which have come in surprisingly strong. Highlights include: General Motors* ($1.93 vs street $1.64), Cisco Systems ($0.79 vs street $0.76), Twitter ($0.38 vs street $0.31, up 8.9% premarket), Lyft (-$0.58 vs street -$0.72, up 10.9% premarket), Mattel ($0.40 vs street $0.27), Coca-Cola ($0.47 vs street $0.42) and Under Armour (+$0.12 vs street -$0.07, up 7.4% premarket).

In Canada today, uranium miner Cameco beat expectations (+$0.09 vs street -$0.04). Later today, results are due from the big 3 insurance companies, Manulife, Sun Life and Great-West, plus Kinross Gold. In the US, Uber and Western Union report results after the close today.  

US consumer prices increased by 1.4% from a year ago in January, the same annual pace as the previous month and slightly less than the 1.5% street estimate. Central bankers have previously suggested plans to remain accommodative until full employment returns and the inflation rate moves back near or even slightly above 2.0%. This afternoon, Fed Chair Powell is speaking at 3:00 pm EST. Investors may look to his comments for hints about whether the Fed is planning any changes to its current monetary support programs in light of the current lockdown/vaccine situation, and the big fiscal stimulus package working its way through Congress.

*Shares of General Motors are held in some portfolios managed by SIA Wealth Management.

New Video: SIA Wealth True Tactical Introduction (1.5 CE Credits Available for Advisors)

A new webinar replay is available featuring Ted Bader of SIA Wealth Management discussing the benefits of a True Tactical approach to investing.

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Colin Cieszynski, Chief Market Strategist

Colin Cieszynski, CFA, CMT
Chief Market Strategist
+1 (647) 282-4428

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