Strong China Data and Earnings Spark Rallies In Stocks and Metals
Investors have responded positively to Chinese economic reports released overnight which included Q3 GDP (4.6% vs street 4.5%), retail sales (3.2% vs street 2.5%), and industrial production (5.4% vs street 4.6%). UK retail sales also beat expectations (3.9% vs street 3.2%). US housing starts came in slightly above the street consensus. Both the US and […]
Index Futures Climb on Positive US Economic Reports
Building on yesterday’s gains of 0.3%-0.8% for US indices, US index futures are up 0.2% to 0.8% this morning with NASDAQ futures playing catch up. The US 10-year treasury note yield is holding near 4.05%. Overseas, China markets struggled overnight with Hong Kong and Shanghai both falling 1.0%. Chinese Q3 GDP, retail sales and industrial […]
Gold Rallies As World Markets Consolidate and Earnings Roll Out
US index futures this morning, and Chinese markets overnight have been stabilizing following yesterday’s selloffs. Major US indices lost 0.75%-1.00% yesterday with the NASDAQ leading the way lower as sentiment soured toward the semiconductor sector. Trading action in Europe today is mixed. The FTSE is up 0.75% and the Pound is down 0.3% as weaker […]
Weak China Trade Numbers Crush Commodities
Overnight China reported a worse than expected trade surplus ($81.7B vs street $89.8B) due to lower than expected import (0.3% vs street 0.9%) and export (2.4% vs street 6.0%) growth. This news has sent shockwaves through world markets, once again increasing concerns about the health of its economy and the prospects for resource demand. To […]
US Earnings and Canada Jobs Come In Strong
US index futures are hovering around flat heading into a full long weekend for Canada and a partial long weekend for the US (banks closed, equities open Monday). Overseas, Shanghai fell 2.5%, but other major Asia Pacific and European markets have been essentially flat. The US 10-year treasury note yield is steady just below 4.10%. […]
China Selloff Continues, US Consolidates Gains
China-sensitive markets continued their retreat overnight and into this morning. Shanghai fell 6.6% while Hong Kong fell another 1.4%. Copper remains under pressure falling another 1.0%. Crude Oil was soft overnight but has been bouncing back this morning. In addition to China, energy prices continue to be impacted by forces outside of demand including the […]
Commodities Fall as China Bears Strike Back
Sometimes no news is bad news. Sentiment toward China and related markets had improved dramatically over the last couple of weeks on anticipation of new stimulus for its struggling economy. That came to an abrupt end after comments by Chinese economic officials had no new commentary or details on stimulus. This news sent the Hang […]
Stocks Slide and Yields Rise To Start the Week
When looking at how equity markets respond to news we usually consider what does the news mean for liquidity (stocks like falling interest rates) and the economy (stocks like a positive environment for corporate earnings). Coming out of Friday’s very strong US Nonfarm Payrolls report, traders focus was that it was good for the economy […]
Nonfarm Payrolls Big Beat Sends Stocks Soaring
US nonfarm payrolls came in well above expectations (254K vs street 140K) sparking a surge in US index futures trading. The three main contracts are now up 0.3% to 0.8% with Nasdaq futures leading the way higher. Index futures had already been trending upward overnight on the news that US port workers agreed to call […]
Oil Rallies on Growing Mideast Conflict
Iran’s missile attack against Israel sparked a rally in oil prices which has continued into today on fears that hostilities in the region could potentially escalate further. This morning US Crude Oil is up 3.0%, while Brent Crude is up 2.7%. Gold through this has been digesting previous gains, trading down 0.6% this morning near […]