Morning Minutes

Stocks Climb To Start the Week With Black Friday Approaching

real-estate

Share:

Facebook
Twitter
LinkedIn
Email
Print

Bouncing back from Friday’s mixed action that saw the Dow fall 0.75% and the NASDAQ rise 0.4%, US index futures are in the green to start the week with gains of 0.2% to 0.4%. In commodity trading, energy markets are under pressure with natural gas getting slammed to a 6.1% loss and WTI crude oil sliding 0.6%. In metals action, copper is down 1.0% while gold is down 0.5%, but silver is flat.

It’s looking to be a very variable week for business news around the US Thanksgiving holiday on Thursday. Today is pretty quiet so far for corporate and economic news. On the corporate side, retailing dominates the agenda. Several mid-tier retailers report earnings on Tuesday and Wednesday. The focus then turns to Black Friday traffic and sales from the Thursday holiday through to Cyber Monday a week from today.

Economic news picks up tonight with Flash PMI reports coming for several countries, the first peek at economic conditions in November. Wednesday brings three days of US economic reports crammed into one due to the holiday, headlined by durable goods orders, new home sales, weekly energy inventories and minutes from the last FOMC meeting.

Speaking of central banks, it’s possible that President Biden may announce his decision for who we wants to lead the Fed into the next leadership term, current Chair Jerome Powell, or the historically more dovish Governor Lael Brainard. Last night, the People’s Bank of China reportedly softened its tone, removing some of the more hawkish elements of previous statements, but didn’t announce any changes. The Reserve Bank of New Zealand, who has been the most hawkish central bank lately having raised interest rates at its last meeting, meets later tomorrow.  

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