Technology-Led Selloff Continues
Yesterday’s US retreat, which was led by technology and small cap stocks, primarily related to the Artificial Intelligence trade, has continued overnight and into this morning. In Asia Pacific trading, the Hang Seng and the Nikkei both fell about 1.8%. Today’s trading in Europe finds the DAX, FTSE, and CAC down 0.6%-1.8%. US index futures […]
Stocks Climb as Shutdown Nears an End
Coming off a mixed finish for US equity markets Tuesday, which saw the Dow rally 1.2% to a new all-time high while the NASDAQ lose 0.25%, world market trading has been generally positive overnight and into this morning. In Asia-Pacific trading, the Hang Seng gained 0.9% and the Nikkei rose 0.4%. In Europe, the DAX […]
Stocks Rally on US Shutdown Progress
It appears that last week’s stock market correction may have run its course for now. Building on Friday afternoon’s rebound in North America that brought the Dow and the S&P 500 into the green for the day, stocks have been rallying to start the week. In Asia Pacific trading, the Hang Seng jumped 1.5% and […]
Canada Employment Exceeds Expectations
With technology stocks continuing to struggle, equity markets have been slumping toward the weekend. Coming off twin 1.9% declines for the tech-weighted NASDAQ and small cap Russell 2000 Index, the Nikkei and the Hang Seng fell 1.2% and 0.9% respectively overnight. This morning finds European bourses in the red pretty much across the board, with […]
Most Markets Rebound as US Dollar Rally Fades
Building on yesterday’s bounce in North America, Asia Pacific markets rallied overnight. The Nikkei and Hang Seng gained 1.3% and 2.1% respectively. European bourses, on the other hand, are soft today with the DAX and FTSE both down about 0.2%. US index futures are 0.1%-0.2%. The legality of President Trump’s tariff program is in front […]
Mixed Response To Earnings Reports
Last night’s earnings reports were disappointing. Netflix* missed on earnings due to a one-time charge related to a tax dispute in Brazil and is now down 7.5% premarket. Texas Instruments missed by a penny and is also down 7.5% premarket as guidance disappointed. This morning’s results have been stronger than expected with GE Vernova (up […]
Metals and Oil Keep Climbing
With a 1.5% gain, Gold has blasted through $4,000/oz and continues to advance. It’s another good day for metals overall with Silver up 2.4%, Platinum up 2.3% and Copper up 0.4%. Meanwhile, the price of Oil continues it’s post-OPEC+ meeting rebound with a 1.7% gain so far today. Oil has ignored a larger than expected […]
Positive Economic Data Boosts the US Dollar
This morning, several key US economic indicators have come in significantly better than expected. The latest US Q2 GDP update (3.8% vs Street 3.3%), and durable goods orders (2.9% vs Street -0.5%) suggest a more robust economy than previously thought. Meanwhile, fewer than expected weekly initial jobless claims (218K vs previous 232K) suggest US labor […]
Precious Metals Keep on Climbing as PMI Numbers Disappoint
There appears to be a growing disconnect between what equity and non-equity asset classes are telling us about investor sentiment. On the one hand, equity indices in the US and elsewhere continuing to reach new all-time highs seems to suggest an increased level of confidence and optimism about the future. This morning, US index futures […]
Gold Reaches Another New High
Between central bank interest rate cuts potentially devaluing paper money over time, and anti-austerity protests in France over the weekend suggesting governments may struggle to get their fiscal houses in order, capital appears to be increasingly seeking out havens in hard assets, particularly precious metals. Gold is up 1.4% this morning trading at a record […]