Morning Minutes

Stocks Rebound Along With Retailer Earnings

morning-minutes-featured-image-finance-650x400

Share:

Facebook
Twitter
LinkedIn
Email
Print

Clawing back some of yesterday’s losses, US index futures are up 0.2%-0.4% this morning. European market are generally trading flat to a gain of 0.4% for the Dax. Commodities are bouncing back after taking losses yesterday with Copper and Platinum both climbing about 1.25%, and WTI Crude Oil gaining 0.1%.

Retailer earnings season continues this morning. Target has beaten the street on earnings ($2.05 vs street $1.77) with same store sales flat and management indicating consumers continue to focus spending on staples products. Discount retailer TJX Companies also beat expectations on earnings ($0.76 vs street $0.72).

Tech giant Cisco Systems reports results after the close today. Tomorrow morning focus turns back to retailers and consumer spending with Walmart and Canada Goose reporting results.

The focus of economic news now shifts to North American housing market data.  US housing starts at 1.40M were in-line with analyst estimates.  Yesterday, the NAHB housing market index came in well above expectations (50 vs street 45). Tomorrow Canada new house prices and US existing home sales are due.

SIA Wealth In The Media:

Chief Market Strategist Colin Cieszynski appeared on BNN Bloomberg recently where he spoke about differences in relative strength between sectors and large cap stock performance year to date.

Significant performance differences have been seen in the market: Market strategist

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