ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
September 28, 2024 | Tech Talk for Saturday September 28th 2024
Don Vialoux
The Bottom Line
Greatest influence on equity markets last week was the recovery in China after the Peoples Bank of China added monetary stimulus to the economy. Chinese equity indices, ETFs and individual equities listed on North American equity markets soared. Sectors influenced by a recovery in China quickly caught the wave: North American gold, base metals, steel, forest product and agribusiness stocks and their related ETFs led the advance. Intermediate overbought U.S. and Canadian equity indices managed to move to new all-time highs.
Historically, North American equity markets during the first two weeks in October have been volatile with a slight downside bias: News this week by most major companies normally is quiet prior to release of third quarter results. Events that could influence equity markets this week include:
Reports on impact of Hurricane Helene,
A possible port strike on the West Coast starting on Tuesday
Growing international tensions (particularly in the Middle East)
Anticipation of a temporary slowdown in corporate earnings growth in the third quarter.
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Don Vialoux September 28th, 2024
Posted In: Tech Talk
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