Morning Minutes

Strong Nonfarm Payrolls Help Indices To Cut Overnight Losses

morning-minutes-featured-image-oil-and-gas-650x400

Share:

Facebook
Twitter
LinkedIn
Email
Print

Weighed down by continued strife in Ukraine, including fighting around a large nuclear plant, overseas stock markets have been retreating again overnight and into this morning with the Dax and FTSE both plunging 3.1%, while the Nikkei and the Hang Seng fell 2.25%-2.50%.

Continuing instability has kept a tailwind behind gold and WTI crude oil, which are up 0.5% and 3.75% respectively. Copper is up 1.8% while Bitcoin is down 1.3%.

US index futures are still in the red but have managed to cut some of their earlier losses after getting a double boost from today’s US nonfarm payrolls report. The jobs component increased significantly more than expected (678K vs street 400K and a slight upward revision to last month). Meanwhile, the average hourly earnings wage inflation component increased less than expected and eased off slightly from last month (5.1% vs street 5.8% and previous 5.5%).Currently, the three main US index futures contracts are trading down 0.5% to 0.7%.

SIA Wealth In The Media:

Chief Market Strategist Colin Cieszynski appeared on BNN Bloomberg today where he discussed current tactical rotation and relative strength in equity markets including renewed interest in the Materials and Defense sectors. He also provided an update on recent trading and long-term trends in the gold and oil markets.

There were areas that were depressed in the markets, but are now bouncing back: Colin Cieszynski

Investors should be keeping an eye on nuclear talks, and how it will impact oil

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