Canada Jobs Crush Expectations Again
It’s not often we see a major merger announced before the weekend, but here we go. Netflix has agreed to buy key assets from Warner Bros. Discovery for $72B, or $27.75 per share, split $23.25 in cash and $4.50 in NFLX shares. The planned spinoff of the Discovery Global TV empire will proceed, meaning Netflix […]
Strong Finish to Canadian Bank Earnings Week
Upward momentum continued overseas but has slowed in North America this morning. US index futures are all pretty much flat. In Europe today, the DAX is up 1.0% and the FTSE is up 0.2%. The US Dollar is rebounding a bit today, sending Gold down 0.2%, Silver down 1.3%, and Bitcoin down 0.4%. The Euro […]
Stocks Climb on Strong Bank Earnings, Surprise ADP Payrolls Drop
Building on yesterday’s US index gains of 0.2%-0.4%, US index futures are up 0.2%-0.3% this morning. European trading is quiet with the DAX up 0.1% and the FTSE down 0.1%. US ADP payrolls declined and disappointed (-32K vs Street 5K and previous 47K) as small businesses cut jobs last month. Investors appear to be taking this […]
Bank Earnings Begin on Turnaround Tuesday for Markets
Stocks and currencies have reversed course overnight. Coming off a Monday of 0.4% to 0.9% losses for US large cap indices and a 1.3% drop for the small cap Russell 2000, US index futures are up 0.1% to 0.4% this morning. Overseas, the DAX is up 0.6%, the FTSE is up 0.3%, the Hang Seng […]
Stocks Slide to Start December
Investors return from the US holiday weekend and enter December in a cautious mood. Bitcoin, a proxy for risk appetite is down 6.0% this morning. Technology stocks are leading the way lower in morning US trading where NASDAQ futures are down 0.8%, while Dow futures are down 0.4%. Speculation on whether the Fed is going […]
No Black Friday Discounts in the Markets
The last trading day of November, a half-day in the United States, has arrived. Even through a futures outage at the CME, which has been resolved, US index futures are in the green this morning, up 0.1% to 0.3%. Overseas, the Nikkei, DAX, CAC, and FTSE are up 0.2%-0.3%, while the Hang Seng fell 0.3%, […]
Quiet Markets Focus on Turkey, Football and Shopping
US equity markets went into the Thanksgiving holiday weekend on a roll, with the major indices climbing 0.6%-0.8% to cap off three days of gains. Positive momentum has generally continued overnight and into this morning, with the Nikkei up 1.2%, the DAX up 0.2%, and the FTSE down 0.1%. Bitcoin is bouncing back with a […]
Pre-Holiday Data Drop
Equities have continued to climb overnight with the rally broadening. In yesterday’s US trading, the Russell 2000, with a 2.1% gain, and the Dow Industrials, with a 1.4% gain, led the market higher. This morning’s pre-holiday trading finds Dow futures steady and NASDAQ futures up 0.4%. Overseas, the DAX climbed 0.4%, the FTSE rose 0.2% […]
Technology Rally Slows as US Holidays Approach
Coming off a spectacular surge for US tech stocks, that saw the NASDAQ pop 2.7% as the AI trade roared back to life, overseas markets have been posting more moderate gains. The Hang Seng rose 0.7%, the Nikkei was flat, the DAX is up 0.6% and the FTSE is up 0.4%. US index futures are […]
Mixed Pre-Thanksgiving Trading
The US holiday-shortened final week of November is off to a mixed start with traders continuing to digest the recent correction in AI-related stocks and continuing to speculate on whether the Fed will continue cutting interest rates or not next month. Building on Friday’s rebound that saw US indices gain 0.9%-1.0%, US index futures are […]