Crude Oil Rebounds; Earnings Season Resumes

US index futures are trading flat to down 0.3% this morning, essentially consolidating yesterday’s gains of 0.25% to 0.6%. In European action, London, Paris and Frankfurt are flat to up 0.2%.

The US 10-year treasury note yield continues to creep upward, clearing 4.30%. The US Dollar is steady to up 0.25% against the other majors. Precious metals, meanwhile, are outpacing the greenback to the upside with Gold gaining 0.3% and Silver surging 0.9%.

US Crude Oil is bouncing back a bit today, gaining 1.4% after losing over 5.0% yesterday. US weekly oil inventories are due this afternoon and tomorrow morning and there have been rumors the US could make some purchases to start refilling its drawn down Strategic Petroleum Reserve. Copper is up 0.75% today on renewed interest in commodities.  

Earnings Season resumes this morning with McDonalds ($3.23 vs street $3.21, down 2.3% premarket) and Pfizer ($1.06 vs street $0.61) beating expectations. PayPal beat on earnings ($1.20 vs street $1.07) but missed on sales and is down 3.1%% premarket. After the close today results are due from Alphabet, Visa, and Advanced Micro Devices.

It’s a quiet day for economic news. US house prices are due at 9:00 am EDT. Bank of Canada Governor Macklem speaks at 3:15 pm EDT. Tomorrow brings US Q3 GDP and US ADP payrolls.

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.