Morning Minutes

Stocks Try To Rebound As Month-End Approaches




Stock markets around the world are on the rebound this morning. The Nikkei led Asia Pacific markets higher with a 1.1% gain, although Hong Kong struggled to a 0.3% loss. In Europe today, the Dax is up 1.8% while the FTSE is up 0.1% on its return to trading. US index futures are up 0.4% to 0.6%, clawing back some of Monday’s 0.6% to 1.0% US index losses and fading as the morning has progressed.

Commodities are in retreat so far today. WTI crude oil is down 2.4% and has slipped back under $95.00/bbl, while natural gas is down 2.3%. Metals trading finds copper down 1.5% and platinum down 1.2%. In currency action, the US Dollar is down slightly which has enabled EURUSD to regain par, while USDCAD as slipped back under $1.3000. Cryptocurrencies are bouncing back with Ethereum up 2.5% and Bitcoin up 1.0%, but gold is still struggling, down 0.4%.

Business news has been quiet again overnight which suggests that today’s bounce could be a combination of short-covering, bargain hunting, and investors positioning ahead of month-end tomorrow. This morning US S&P/Case-Schiller house prices are the headliner due at 9:00 am EDT (street 19.5% vs previous 20.5%). Tomorrow morning brings Canadian GDP, US ADP payrolls plus Chicago PMI, Chinese PMI reports, and more inflation numbers from Europe.

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.