SIA Wealth Morning Minutes Banner

Steady Stocks Digest Market Bounce and Await Powell Testimony

Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on facebook
Facebook
Share on email
Email

Yesterday’s bounce back in North American markets that saw the Dow Industrials gain 1.8% and the NASDAQ rise 0.8% continued into Asia Pacific trading overnight where the Nikkei soared 3.1%. This morning, major indices in Europe are climbing moderately with the FTSE up 0.4% and the Dax up 0.2%. US index futures are slightly positive with gains of 0.1% to 0.2%.

Fed Chair Powell’s semiannual testimony to Congress starts today but considering all of the information the Fed released last week, no major surprises are expected. He could face questions on the state of the recovery, inflation pressures and whether the central bank is considering slowing asset purchases. Ahead of the testimony, the US 10-year treasury note yield is sitting just below 1.50%. Meanwhile the US Dollar is up 0.2% against the Euro, Pound, Yen and the Loonie.  

Cryptocurrencies remain under pressure today, particularly Bitcoin which has plunged another 7.8% and has broken down below $30,000, and Ethereum, which is down another 6.7%. Commodity action is mixed with WTI crude oil down 0.8% and copper up 0.2%.  

SIA Wealth True Tacticaltm Investing Webinar Thursday June 24, 2:00 pm EDT

Join SIA Wealth Management for an introduction into what True Tacticaltm investing means, how capital rotates between markets, the benefits of relative strength analysis and how utilizing True Tacticaltm can benefit you and your clients.  Webinar audio will be available through computer VoIP or dial in using your phone.

Register at:  https://attendee.gotowebinar.com/register/2910028362724563470

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.

Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on facebook
Facebook
Share on email
Email

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

Keep Reading

INTERNET EXPLORER NOTICE