Skip to Main Content
  • CIBC.com
  • CIBC Private Wealth
  • CIBC Websites
Client Login
  • Home
  • Our Team
  • Commentary
    • Blog
    • Video
    • Market insights
  • Services
    • Our solutions
    • Advisor Managed Account
    • Community
  • Commonly asked questions
  • Contact us
  • CIBC.com
  • CIBC Private Wealth
  • CIBC Websites
  • Client Login
 CIBC Private Wealth, Wood Gundy  CIBC Private Wealth, Wood Gundy

Cacic Wealth Management

  • Home
  • Our Team
  • Commentary
    • Blog
    • Video
    • Market insights
  • Services
    • Our solutions
    • Advisor Managed Account
    • Community
  • Commonly asked questions
  • Contact us

Blog

Address 500 Centre Street SE 27th Floor Calgary AB, T2G 1A6
Telephone Number (403) 508-3230
Email Email us
Email Email
Telephone Number Tel

Milan Cacic

October 08, 2021

Money Economy Commentary Trending Weekly update
Facebook
LinkedIn
Twitter

MARKET UPDATE - August 13th 2021

The stock market appears to be unconcerned about lockdowns and the Delta variant judging from the new all-time highs. Perhaps it’s assuming that the US will follow in the UK’s footsteps. The UK had a massive surge in COVID-19 cases without locking down and now that surge has rolled over without producing a wave of hospitalizations and deaths.

 

The market’s forward P/E ratio has not moved for more than a year now. Earlier in the year, market growth was driven by multiple expansion and now it appears to be driven by earnings growth. If we look at Q2 earnings, it’s clear to see that earnings season is on fire. The year-over-year growth rate in Q2 estimates is up 40% (from the start of earnings season) to +94% today.

 

The bigger question is “Will the market rotate back to value?” or “Will growth lead us forward?”. If the market sees past the Delta variant in the fall (there will likely be a rise in cases) then value will likely win out. Stock and sector selection will be paramount this fall!

 

I have also include a piece from our CIBC Economics Team entitled “Who’s closer to the finish line?”.

 

As always please give us a call if you have any questions.

 

Have a great weekend.

 

Milan

Related posts

Milan Cacic

July 11, 2025

CHAPS, CHARTS, AND CHARGING BULLS

Read more

Milan Cacic

June 27, 2025

THE MARKET IS VOLATILE - BUT OUR STRATEGY ISN’T

Read more
 
 
  • Rates
  • FAQ
  • Agreements
  • Trademarks & Disclaimers
  • Privacy & Security
  • CIRO AdvisorReport
  • Accessibility at CIBC
  • Manage Cookie Preferences
  • Cookie Policy
 Canadian Investment Regulatory Organization  Canadian Investor Protection Fund

CIBC Private Wealth” consists of services provided by CIBC and certain of its subsidiaries through CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (“CAM”); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (“WMI”). CIBC Private Banking provides solutions from CIBC Investor Services Inc. (“ISI”), CAM and credit products. CIBC Private Wealth services are available to qualified individuals. Insurance services are only available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are only available through CIBC Wood Gundy Financial Services (Quebec) Inc.


CIBC Private Wealth services are available to qualified individuals. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license.