Trade Uncertainty Continues to Overhang Stocks
SIA Wealth Morning Minutes will not be issued the weeks of June 2nd or June 9th. They should return on Monday, June 16th. The last trading day of May finds US index futures clawing back earlier losses. Following the release of benign Core PCE inflation data (2.5% as expected vs previous 2.7%) US index futures are […]
Nvidia Earnings and Court Decision on Tariffs Boost Stocks
US stocks continue their rally this morning with Dow Futures up 0.3% and NASDAQ futures up 1.2%. Positive sentiment has been reinforced by Nvidia, which is up 5.4% premarket, beating the Street on earnings ($0.81 vs Street $0.74), and the news that the US Court of International Trade has struck down President Trump’s reciprocal tariff […]
Market Rally Pauses As Investors Digest and Await Earnings Reports
Stocks have paused their advance overnight to consolidate yesterday’s big gains. US index futures are currently flat to up 0.2%, coming off a day of 1.8% to 2.5% gains. In Europe this morning, the major indices are flat to down 0.2% and Asia Pacific indices were flat to down 0.5%, the Hang Seng taking the […]
US Stocks Surge as Trading Resumes
US investors appear to be returning from the Memorial Day long weekend ready to celebrate the weekend news that President Trump has delayed the imposition of 50% tariffs on EU countries to July 9 from June 1 to allow time for more talks. On this news US index futures are up 1.2%-1.5%, erasing all of […]
Europe Bounces Back as Trump Delays EU Tariffs
US markets are closed for Memorial Day today, but other markets around the world are open and reacting to news over the weekend that President Trump has agreed to postpone the launch of 50% tariffs against the EU from June 1 to July 9 to allow time for more talks. Continental Europe markets are rallying […]
Trump Tariff Tweets Sink Stocks
What was looking like a quiet Friday was turned on its head by President Trump this morning after he launched a new round of tariff threats. Specifically, Trump threatened a 25% tariff against Apple unless it brings iPhone production to the US and also a 50% potential tariff against the EU starting June 1st. This […]
US Political Woes Weigh on Wall Street
For much of this year, market movements have been driven by international political developments, particularly trade and tariff tensions between the US and other major economies. This week, however, the focus has shifted to domestic politics, as attention turns to the White House’s tax and spending bill currently moving through Congress. Concerns that the bill […]
Gold Rebounds as US Dollar Retreat Continues
Moody’s downgrade of its US credit rating last weekend continues to impact bond and currency trading. The USD remains in retreat today enabling Gold to rally 0.8% and regain $3,300/oz. Meanwhile, other major currencies, including the Loonie, Pound, Euro, Aussie and Yen, are up 0.2%-0.6% today. Commodities are also rallying with Copper up 1.2% and […]
World Markets Shrug off US Credit Rating Downgrade
Over the weekend, Moody’s cut its rating on US debt to Aa1 from AAA, and on Monday, markets showed resilience in the face of this news. US stock markets finished flat to up 0.2%, clawing back early losses. The US 10-year treasury note yield rallied up to 5.00% then settled back toward 4.45% where it […]
Investor Confidence Continues to Improve
Business-related news has been quiet overnight. President Trump is returning from his trip to the Middle East, and trade talks appear to be progressing on several fronts. In the absence of negative developments and amid an encouraging tone overall, equity markets continue to rise. Heading toward the weekend, US index futures are up 0.3% across […]