SIA Wealth Morning Minutes: Natural Gas Rebounds; US Indices Approach Key Levels
World markets appear to be showing some mean reversion this morning following two days of strong moves, consistent with what appear to be typical trading corrections. After closing at record highs, with 50,000 and 7,000 in sight for the Dow and the S&P 500 respectively, US index futures are trading flat to down 0.2% so […]
Oil & Gas in Focus as Markets Reopen
Markets reopen this morning with investors digesting weekend US military action in Venezuela and the removal of former President Maduro, as attention begins to shift toward positioning for 2026. Political instability is lifting precious metals to start the week. Gold is climbing 2.1% and Silver is rallying 5.5%, with strength extending into broader commodities as […]
NASDAQ Stocks and Energy Prices Rally as Holiday Trading Begins
This is the last scheduled edition of the Morning Minutes for 2025. It will return Monday, January 5th, 2026. We wish everyone a Happy Holiday Season. It looks like a Santa Claus Rally is underway. Building on Friday’s US index gains of 0.4%-1.3%, US index futures are up 0.1%-0.7% to kick off a holiday-shortened trading […]
Land of the Rising Stocks…and the Falling Yen
Overnight, the Bank of Japan raised its benchmark interest rate by 0.25% to 0.75%. Central bankers did not give any indication as to whether or when they may raise rates again, So the street appears to be taking this as a neutral or even dovish hike. The Yen has dropped 1.1% on a day when […]
Stocks Rebound on Positive Inflation and Earnings News
US markets are rebounding this morning after President Trump’s speech last night, which focused primarily on the economy, tax refunds, and a Christmas bonus for members of the military. Index futures are up between 0.1% and 0.8%, led by the NASDAQ. Technology stocks are bouncing back after Micron Technology beat expectations last night ($4.78 vs […]
Trump Blockade Sends Oil Soaring
Overnight President Trump announced a blockade against sanctioned oil tankers from entering or leaving Venezuela, significantly ramping up political and supply risks in the oil market. Trump is scheduled to speak to the nation at 9:00 pm EST this evening. This news has sent oil climbing today with US and Brent Crude both up 1.8%. […]
Markets Digest Soft US Job and Sales Numbers
It is catch-up day for US Nonfarm Payrolls. October payrolls fell by 105K jobs, while November payrolls rebounded modestly and exceeded expectations at 64K versus Street estimates of 50K. Overall, the reports appear soft. However, both releases were likely distorted by the US government shutdown, making it difficult to determine whether the weakness represents a […]
China Retreats, US Rebounds as a Big Week for Data Begins
The last full business week of the year is looking to be a busy one for business news. Asia Pacific markets sold off overnight with the Nikkei and the Hang Seng both falling 1.3%. China reported disappointing retail sales (1.3% vs Street 2.9%) and industrial production numbers (4.8% vs Street 5.0%), weighing on sentiment. Commodities […]
Traders Turn Cautious as Focus Turns to Tech Earnings
Please note: The Morning Minutes will not be issued tomorrow. They should return on Monday, December 15th. The Fed meeting has come and gone, leaving mixed signals. While the FOMC did cut rates by 0.25% as expected, there were two hawkish dissenters and one dovish dissenter. The dot plot forecast for 2026 suggested that the […]
Silver Soars Ahead of Today’s Interest Rate Decisions
The big day for North American central banks has arrived. At 9:45 am EST, the Bank of Canada is expected to maintain its benchmark interest rate at 2.25%. At 2:00 pm, the Fed is expected to cut the Fed Funds rate by 0.25% to 3.75%. At that time, FOMC member projections are released, including the […]