Earnings Beats Boost US Stocks

Bouncing back from US index declines of 0.5% to 0.7% yesterday, US index futures are up 0.1% to 0.9% this morning. European markets are quiet with the Dax, CAC and FTSE all holding steady. Asia Pacific markets fell to end the week with the Hang Seng dropping 2.1% and the Nikkei sliding 1.0%.

The US Dollar is strengthening today, with gains of 0.5% against the Euro and the Yen, and 0.7% against Gold. The Loonie is holding steady. Commodities are mixed today with US Crude Oil up 0.3% and Copper down 0.3%.   

Broadcom is soaring 16.9% this morning, boosting the semiconductor sector in particular and tech stocks in general after beating the street ($1.42 vs street $1.39) on a boost from AI related revenues. Costco Wholesale also exceeded expectations ($4.04 vs street $3.79), but its shares are flat on the news premarket.

It’s a quiet day for economic news but next week is looking busy, headlined by retail sales reports for the US, UK, Canada and China. Wednesday brings the last Fed interest rate decision and member projections for the year, followed by the Bank of Japan and the Bank of England on Thursday.  

SIA Wealth In The Media:

Chief Market Strategist Colin Cieszynski appeared on BNN Bloomberg today where he spoke about the recent Bank of Canada decision and current trends in global markets. 

Impact of BoC rate cut on the markets

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