Investors Digest PMI and Earnings Reports
US index futures are trading flat to down 0.2% as traders pause to catch their breath at the end of a busy week and position for next week’s round of mega cap earnings reports. Overseas, Hong Kong rallied 1.8% and the Dax is up 0.4%, most other major markets have been quiet. Overnight, the Bank […]
Stocks Pause, Bitcoin Retreats as Treasury Yields Climb
US index futures are mixed this morning with NASDAQ futures down 0.5% and Dow Futures up 0.1%. This sluggishness following two days of strong gains for US markets following the Inauguration so far appears to be normal profit-taking. European markets are climbing this morning, with the Dax up 0.3% and the FTSE up 0.2%. The […]
Canada In Focus On Inauguration Day
US markets are closed for Martin Luther King Day today and being January 20th, it’s also Inauguration Day in the USA. Coming off a strong finish to last week, which saw major US indices close up 0.8% to 1.5%, US index futures are quiet this morning trading flat to down 0.1%. European trading is also […]
Earnings Season Starts With Big Bank Beats
The first day of earnings season finds US bank and asset manager results coming in well above expectations, sparking premarket rallies. Headliners include JPMorgan* ($4.81 vs street $4.09, up 1.1% premarket), Wells Fargo ($1.43 vs street $1.35, up 4.3% premarket), Blackrock ($11.93 vs street $11.24, up 5.0% premarket), Goldman Sachs* ($11.95 vs street $8.21, up […]
Light Inflation Helps Stocks to Rebound
It appears that the recent market correction may have run its course for now. Yesterday the Dow shrugged off early losses to finish with a 0.8% gain although the NASDAQ finished down 0.4%. With the exception of Tokyo which fell 1.8% overnight, overseas markets have been on the rebound, including gains of 2.5% for Shanghai, […]
Stock Selloff and Energy Rally Continue
Equity investors and cryptocurrency traders continue to react negatively to last week’s stronger than expected US Nonfarm Payrolls report. Signs of strength in the US economy have added to speculation that there could be significantly fewer interest rate cuts in the US this year dampening the easy money speculation that had underpinned 2024 gains in […]
Employment, Earnings and Potential Sanctions Drive Big Market Moves
There have been a number of positive developments this morning, but the market reaction to them in a macro and individual level has been very different. North American job numbers for December showed job creation accelerating. Both US Nonfarm Payrolls (256K vs street 154K and previous 212K) and Canada employment (street 90K vs street 25K […]
Stocks and Bonds Retreat as Treasury Yields Climb; ADP Payrolls Miss
Adding to yesterday’s US index losses of 0.4% to 1.9%, US index futures are down 0.1% to 0.2% this morning. European bourses are in red across the board with the CAC down 1.0%, the FTSE down 0.6% and the Dax down 0.3%. Asia Pacific trading saw the Hang Seng lose 0.9%. The 10-year US treasury […]
Stocks and Currencies Digest Monday Moves
US index futures are quiet this morning trading flat to up 0.1% as equities digest their Monday rallies that drove gains of 0.5% for the S&P 500 and 1.2% for the NASDAQ. European trading action is mixed with the FTSE down 0.3% and the Dax up 0.5%. The US Dollar has stabilized this morning after […]
Stocks Rally, US Dollar Retreats As Investors Return to Work
Traders have returned from the holidays in a positive mood. US Index futures are up 0.4% to 1.0% with NASDAQ futures leading the way higher. In Europe today, the Dax is up 1.2%, the CAC is up 2.0%, but the FTSE is flat. Asia Pacific trading saw Japan lose 1.5% and India lose 1.6%, while […]