Making sense of the markets this week: October 29, 2023 Oct 28th

Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.

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Making sense of the markets this week: October 29, 2023

– moneysense.ca

Allan Small, Senior Investment Advisor at the Allan Small Financial Group with iA Private Wealth, shares financial headlines and offers context for Canadian investors.

Third quarter earnings are here from tech

Earnings season is here, as technology’s biggest players reported their third quarter earnings. This follows on the heels of the big U.S. banks reporting their earnings the week prior. The main takeaway from the banks’ earnings—which were pretty good across the board—and what their CEOs said, that the money in consumers’ savings accounts is dwindling. And that points to less spending and a slowing economy in the near future. (All values in this section are in U.S. currency.)

This week, we heard from the tech titans, including Microsoft, Alphabet and IBM. What do you, Canadian investors, want to know specifically about tech stocks? Is growth still happening, and from where is it coming from? The third quarter earnings reports demonstrate just why tech has been the only real centre for growth in the markets over the past year—and why that growth will continue…

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