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October 5, 2024 | Tech Talk for Saturday October 5th 2024

Don Vialoux

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Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at www.timingthemarket.ca. Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

Focus this week is on September U.S. inflation reports. Consensus calls for a slight reduction for September CPI and September PPI on a monthly basis and year-over-year basis.

Official launch of the third quarter report season starts on Friday when results by some of  the biggest U.S. banks are released. As noted below, third quarter earnings by S&P 500 companies will “not be much to cheer about”. Favourable anticipation prior to release of quarterly results is expected to be muted at best. Notable concern is results from the financial sector. According to FactSet, consensus calls for a 0.4% year-over-year earnings drop by the Financial sector and a 12% earnings drop by the Bank sub-sector.

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October 5th, 2024

Posted In: Tech Talk

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