US Retail Sales Slump Suggests a Slowing Economy

Between yesterday’s US index gains of 0.5%-1.0% and tomorrow’s Juneteenth US holiday, US index futures are consolidating this morning, trading flat to up 0.2%. Overseas markets have also been on the rise with Milan, Sydney and Tokyo posting gains of over 1.0% with London and Paris up 0.4% and Frankfurt up 0.2%. US retail sales […]

Indices Digest New Highs and Big Selloffs

US Index Futures are steady today trading between -0.2% and +0.2%. On Friday the NASDAQ closed at an all time high, but only gained 0.1% on the day while the S&P was flat and the Dow Industrials fell slightly. Worse, the small cap Russell 2000 dropped 1.6%, and the Dow Transports fell by 1.0%, raising […]

Gold Bounces Back as Stocks Slide

A rough week for European markets after last weekend’s European Parliament election results sparked a round of political turmoil continues this morning with Paris down 2.2%, Frankfurt down 1.1% and Milan down 2.5%. London is down a more moderate 0.2%. The US has been trying to defy gravity for the last two days but this […]

Focus Shifts Back to Sectors and Earnings Following the Fed

For a second day in a row, we are seeing a significant divergence in performance between the Dow and the NASDAQ. Yesterday, the NASDAQ rallied 1.5% while the Dow fell 0.1%, this morning, NASDAQ futures are up 0.7%, while Dow futures are down 0.2%. European markets are taking it more on the chin today amid […]

Soft Consumer Prices Send Stocks Soaring Ahead of Today’s Fed Decision

US index futures have spiked upward in the last few minutes going from flat to up 0.75%-1.0%. US consumer prices were slightly better than expected (3.3% vs street 3.4%) igniting speculation that the Fed could take a more dovish stance than previously thought. Treasury yields are also dropping with the US 10 year falling from […]

Stocks Slide With Inflation and Stagflation in Focus

Stock markets are in retreat this morning among more signs of stagflation. This morning, UK jobless claims came in worse than expected (50K vs street 10K), a sign of a weakening economy. Average earnings including bonus was also worse than expected (5.9% vs street 5.7%) a sign that inflation is not going away and may […]

Election Results Rock European Markets

Weekend European Parliamentary election results saw a significant shift in voter sentiment away from incumbent parties, which led to Belgium’s prime minister resigning, and French President Macron launching a snap parliamentary election campaign in France. With political uncertainty increasing on the continent, the Euro has dropped 0.4% against both the US Dollar and the British […]

Nonfarm Payrolls Spark a Selloff

US index futures have started to sell off hard following the release of North American employment and wage inflation numbers. Prior to the report, trading had been pretty quiet. Currently, US index futures are down 0.3%-0.4%.    North American job growth was very strong last month, as US nonfarm payrolls (272K vs street 185K) and […]

Interest Rate Cuts and Payrolls In Focus

US index futures are in consolidation mode this morning digesting yesterday’s 1.25% gain for the S&P 500 that carried it to a new all-time high, and nearly 2.0% rally for the NASDAQ. Gains were led by large cap technology stocks and boosted by a positive surprise in US Service PMI. European markets are up across […]

ADP Payrolls Reaction and Bank of Canada Preview

It’s a big day for economic news. US ADP private sector payrolls came in below expectations (152K vs street 173K) but so far this has had little impact on US index futures which are up 0.2% to 0.5% this morning, building on yesterday’s US market gains. European markets have been strong today with London up […]