Morning Minutes

Oil Bounces Back To Start The Week

Share:

Facebook
Twitter
LinkedIn
Email
Print

SIA Wealth Morning Minutes will not be issued on Tuesday December 7, It should return on Wednesday December 8.

It’s not unusual for there to be a lull in news during the second week of the month and with earnings season now over, it has been very quiet for corporate and economic news. The main event over the weekend was the announcement that Saudi Arabia is raising its prices to customers, sparking gains of 2.9% for Brent and WTI crude oil. Natural gas, on the other hand remains extremely volatile and weather driven, plunging 10.1% in early trading.  Cryptocurrencies remain under pressure, with bitcoin still under $50,000 and falling another 0.9% today.

Stock markets around the world are mixed as investors digest last week’s mixed employment numbers, recent hints that the Fed may accelerate tapering, and the potential implications of the COVID Omicron wave for the economy. Premarket trading finds Dow futures up 0.7% but NASDAQ futures down 0.2%. Overseas., the FTSE is up 1.0% and the Dax is up 0.6%, but overnight, the Hang Seng dropped 1.7% and the Nikkei fell 0.4%.  

There are two central bank meetings of note this week, the Reserve Bank of Australia tonight and the Bank of Canda on Wednesday. These banks’ decisions and statements may provide additional information on the state of their economies, and how concerned they are about inflation pressures, providing a reading of the room heading into next week’s Fed meeting. Other economic news of note scheduled for this week include China trade numbers tonight and US consumer price inflation on Friday. A few lingering retailers report results this week, including Dollarama and Gamestop Wednesday, followed by Costco on Thursday and lululemon on Friday.

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