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Emerging Markets (ZEM.TO) & Equal Weight US Banks (ZBK.TO)

In this edition of Equity Leaders Weekly, we look at emerging markets and bank stocks as signs of investor confidence and sector rotation.

Dundee Precious Metals (DPM.TO)

About a month ago, DPM.TO climbed up from the Unfavored zone to the border of the Neutral zone to the Favored zone of the SIA S&P/TSX Composite Index Report, unwinding a tumble down the rankings that occurred over December and January. DPM.TO finished yesterday in 55th position, up 4 spots on the day and up 101 places in the last month.

Wesdome Gold Mines (WDO.TO)

Wesdome Gold Mines (WDO.TO) has climbed 23 positions over the last month to 10th place in the SIA S&P/TSX Composite Index Report. Since returning to the Favored Zone, WDO.TO is up 8.5%, while the S&P/TSX Composite Index is up 3.7% over the same period.

Weekly Market Recap (March 4-8, 2024)

Weekly Market Recap (March 4-8, 2024) US Equity Indexes Decline This Week as Fed Chair Powell, Jobs Report Offer Mixed Views on Economy   US equity indexes ended the week lower as February’s mixed payrolls report outweighed Federal Reserve Chair Jerome Powell’s more benign message reiterating policymaking will remain data-dependent. The Dow Jones Industrial Average… Continue reading Weekly Market Recap (March 4-8, 2024)

Broadcom Inc (AVGO)

Broadcom Inc. (AVGO) has been an all-star in the SIA S&P 100 Index Report over the last 15 months, all of which have been in the Favored zone since December of 2022. During this time, it quickly rose to the top or near the top of the rankings and has been in the top 3 spots of the Report for most of its time returning over 156%.

Weekly Market Recap – Ending March 1, 2024

Canada: TSX Gained Near 190 Pts Friday, Touched Above the 21,600 Level Canada’s main stock market, the Toronto Stock Exchange, gained near 190 points or 1% on Friday in closing out near 21,550, having earlier in the session even breached the 21,600 level for the first time since the Spring of two years ago. Today,… Continue reading Weekly Market Recap – Ending March 1, 2024

Alphabet Inc (GOOG)

Alphabet, Inc. (GOOG), once a titan among tech’s “Magnificent Seven,” shows signs of faltering, with a 2% drop year-to-date, trailing behind the S&P 100 and NASDAQ Composite’s gains of more than 8%. Alphabet continues to recede in the SIA relative strength rankings underscoring a critical juncture for what was once seen as a flagship holding in many investment strategies.

Amgen Inc (AMGN)

Amgen (AMGN) has re-entered the Unfavored zone, falling 28 spots in a month to 53rd in the SIA S&P 100 Index Report, with a 12.2% decline in contrast to the market and sector gains 5.3% and 4.75%, respectively. Technical indicators point to a new downtrend, with critical support at $260.00 and resistance at $283.00.

CBOE Interest Rate 10-Yr (TNX.I) & NASDAQ Composite Index (NASD.I)

This week marks the culmination of the first chapter of 2024 for equity markets, highlighted by mixed responses to earnings reports, with Canadian banks showing varied results, and companies like NVIDIA experiencing a significant rally. Equity markets showed a general leveling off after initial gains, reflecting a cautious investor sentiment amidst high valuations. The spotlight on GE Healthcare’s unexpected rise and the volatility in cryptocurrency underscores a market trend towards speculation. This week’s Equity Leaders Weekly examines treasury yields, upcoming central bank meetings, and what the NASDAQ is telling us about risk appetite.

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