Morning Minutes

Stocks Climb On a Quiet News Day

morning-minutes-featured-image-construction-650x400

Share:

Facebook
Twitter
LinkedIn
Email
Print

The new trading week is off to an encouraging start so far. Shanghai soared 2.0% on its return to trading from holidays, the Dax and FTSE are both up 0.5% in European trading, and in North America, US index futures are up 0.2%-0.4%, building on Friday’s 0.5% gain for the S&P 500 and 1.6% gain for the NASDAQ.

The US 10-year treasury note yield is holding steady near 1.90%. Currency action has the Canadian Dollar up 0.3%, gold up 0.5% and Bitcoin up 2.75% against the greenback. Commodity trading is mixed this morning. Natural gas is down 4,1% with weather conditions improving. WTI crude oil is down 0.7% but still holding above $90.00/bbl, and copper is down 0.6%.

Today is very quiet for business news leaving investors to continue digesting last Friday’s mixed North American employment reports and the implications of high wage inflation. The only news of note has been an earnings report from toymaker Hasbro ($1.21 vs street $0.88), and a merger in the US airline sector between Spirit and Frontier.

Earnings season picks up this week in Canada headlined by the Big Three insurance companies reporting on Wednesday. In the US there are still a number of seniors reporting in the Communications and Consumer Staples sectors, but the focus stateside is now turning more toward mid and small cap companies. It’s a light week for economic news but the focus remains firmly on inflation and what it means for interest rates with US consumer prices due on Thursday.

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