Morning Minutes

Stocks Bounce Back as More US Earnings Roll In



US index futures are pointing toward a positive open today with gains of 0.2% for Dow Futures and 0.5% for NASDAQ futures. While encouraging, US indices still have a way to go to claw back yesterday’s losses of 1.5% for the Dow and 2.5% for the NASDAQ. European markets are also in the green this morning with the FTSE and Dax both up about 0.5%. Copper is also bouncing back today with a 1.9% gain, while WTI crude oil continues to climb with another 0.6% rise.

Today’s rebound comes in the face of continued inflation and interest rate issues. The US 10-year treasury note yield is holding near 1.85% after touching 1.90% overnight. Inflation pressures remain high. Canadian core consumer prices (4.0% vs street 3.5%) indicated inflation pressures continue to increase. UK consumer prices also increased more than expected (5.4% vs street 5.2% and previous 5.1%). US housing starts (1.70M vs street 1.65M) beat expectations, offsetting the Canadian housing starts announced earlier this week.

A number of positive earnings reports from senior US companies across a number of sectors this morning appears to be helping shore up investor confidence. Highlights include: UnitedHealth ($4.48 vs street $4.31), Proctor & Gamble ($1.66 vs street $1.65, increased low end of sales growth forecast), Bank of America ($0.82 vs street $0.76), and Morgan Stanley* ($2.01 vs street $1.91). Later today, results are due from United Airlines and Prologis REIT.

*Shares of Morgan Stanley are held in portfolios managed by SIA Wealth Management.  

New Video: SIA Wealth January Webinar Replay

A replay of the SIA Wealth Market Outlook Webinar with Colin Cieszynski – Chief Market Strategist, Paul Vendrinsky and Kyle Wilson – Portfolio Managers, answering questions related to market/sector index composition and performance plus an update on SIA Wealth managed portfolios is now available.

YouTube Version:

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
+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.