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Stocks Bounce Back to Start The Week; Webinar Tomorrow

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September has historically been a choppy month for stocks and considering that North American markets have been generally trending sideways for the last six months, it’s not overly surprising that after sliding most of last week, US indices are trying to bounce back this morning. US index futures are up 0.5%-0.6% this morning. There isn’t any news of note to move the markets other than signs that new Delta Wave COVID cases appear to have peaked in the US based on their 7-day moving average and may be close to peaking in Canada.  

Over in Europe today, the Dax is up 1.0% and the FTSE is up 0.75% with Germany’s election campaign moving into its later stages and the UK dropping plans for vaccine passports at crowded venues. Commodity markets are mixed today. Natural Gas is up 2.9% and WTI crude oil is up 0.8%, but copper is down 0.3%.

The takeover battle among railroads Canadian National and Canadian Pacific to create the first 3-country USMCA railway took another turn over the weekend as Kansas City Southern announced that it has flipped back to favoring the lower, original $27B takeover offer from CP over CN’s competing $30B bid after the latter encountered regulatory hurdles in the US.

It’s a pretty light week for scheduled business and economic news. The main events are US and Canada consumer prices Tuesday and Wednesday, US retail sales on Thursday, and Chinese retail sales plus industrial production late Tuesday night. There are no notable earnings reports in North America this week except for Oracle who reports after the close today.

SIA Wealth Market Outlook Webinar Tuesday September 14th, 2:00 pm EDT

Please join us on Tuesday Sept.14@ 12pm MT / 2pm ET for our Market Outlook Webinar with Colin Cieszynski – Chief Market Strategist.  He will answer the most asked questions we have received from advisors over the past month.

Register for webinar:  https://attendee.gotowebinar.com/register/235126574909929743

After registering, you will receive a confirmation email containing information about joining the webinar.  A replay will be available and sent to all registrants after the webinar.

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.

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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

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