SIACharts Logo

Commentary >

 Sector Scopes Monthly Update January 2023 & iShares US Home Construction ETF (ITB)

The return to work of more investors from holidays has brought a New Year’s Rally to equity and commodity markets with broad based gains both in North America and internationally. Investors have responded positively to a number of news developments including weakening US wage inflation easing pressure on the Fed to remain hawkish, and China reopening its border to travellers for the first time in three years, a sign that it’s economy is reopening. Previously depressed groups have rebounded nicely, including four consecutive days of gains for the NASDAQ.

Investors have also taken a “no news is good news” perspective on what so far has been a very quiet confession season, suggesting that the upcoming earnings season may end up being in line or better than expectations.

Earnings season kicks off Friday with results due from several major national US banks, including JPMorgan Chase, Citigroup and Bank of America, along with asset manager Blackrock. Next week results are due from a number of US regional banks, brokerages Goldman Sachs and Morgan Stanley and airlines United and American. Economic news for the next week is focused mainly on inflation from several countries including the US, Canada, the UK and China, kicking off with today’s US Consumer Price Index report. Next week also brings US retail sales, and some regional manufacturing reports

In this edition of the Equity Leaders Weekly, we look at the Sector Scopes feature for insights into the current state of the market, and at the US Homebuilding Sector by looking at the iShares US Home Construction ETF (ITB).

Sector Scopes Monthly Update January 2023

Keep up to date on the latest financial market news.

Receive a daily newsletter with stock highlights, ETF rankings, weekly market focus and others.