Trade War Fears Drag Markets Down
SIA Wealth Morning Minutes will not be issued tomorrow, it will return on Wednesday March 12th. Amid ongoing uncertainty over the potential impact of tariffs and trade wars on the global economy investor sentiment continues to shift from enthusiasm to caution. Bitcoin, a proxy for investor confidence, is down 3.9% and trading in the low […]
Trump Talks Tonight as Tariff War Begins
The long threatened 25% US tariffs against Canada and Mexico and 10% tariffs against Canadian Energy and China began at midnight this morning. The announcement yesterday, which sent US indices down 1.5% to 2.6%, has continued to impact stocks around the world overnight. Tokyo fell 1.2%, and European trading this morning finds Frankfurt down 2.4%, […]
March Starts Strong Led By Crypto Recovery
Last week’s uncertainty and caution has quickly gone by the wayside as bulls have roared back to life to kick off March. President Trump’s announcement of a Strategic Cryptocurrency Reserve has lit a fire under the cryptocurrency market. Bitcoin has rallied from just above $80,000 to above $92,500, currently up about 10.6%. The prospect of […]
Stock Selloff Continued Overseas Overnight
The last trading day of February finds stocks trying to stabilize following yesterday’s selloff that saw the Dow lose 0.4%, the S&P fall 1.6% and the NASDAQ drop 2.8%. Today finds NASDAQ futures flat and Dow futures up 0.4%. Chipmaker Nvidia which plunged 8.5% yesterday post-earnings remains under pressure, however, down another 1.8% premarket. Asia […]
Bank Earnings Start Strong; Cryptocurrencies Crumble
US index futures are trading flat to up 0.1% this morning as they try to regain their footing from recent losses, including declines of 0.5% for the S&P 500 and 1.2% for the NASDAQ yesterday. European markets are climbing this morning with the Dax up 0.25% and the FTSE up 0.5%. The biggest action this […]
Backing and Filling
The morning after the S&P 500 reached a new all-time high finds US index futures trading flat to down 0.2% with Dow Futures leading the way back downward. This appears to be mainly due to common consolidation after a move, and a lack of new developments to push markets higher. The only notable economic report […]
Positive Start to a Shortened Trading Week
US traders have returned from the long weekend in a good mood. US index futures are up 0.2%-0.5%. Europe is now in the green with the Dax and FTSE both up about 0.2%. Asia Pacific trading saw the Hang Seng rally 1.6%. The US Dollar is dropping back a bit today. Gold is up 1.0%, […]
Stocks Pause Ahead of the Long Weekend
With a long weekend approaching in North America, traders appear inclined to take profits following yesterday’s rally. Soft US retail sales and mixed earnings don’t appear to be helping sentiment either. US headline retail sales (-0.9% vs street -0.1% and previous +0.7%), and retail sales ex autos (-0.4% vs street +0.3%) showed an abrupt and […]
Markets Digest Inflation and Earnings News
US Producer prices came in hotter than expected this morning (3.5% vs street 3.2% and previous 3.3%), confirming the increase in inflation seen in yesterday’s US consumer price report. Tomorrow brings US retail sales for this month. Unlike yesterday where stocks sold off on the prospects of rising inflation, traders appear to be taking today’s […]
Soft Tech Sales Send Stocks Slumping
NASDAQ futures are down 0.8% this morning, outpacing the 0.1% decline by Dow Futures to the downside. Sentiment appears to be getting impacted by disappointing news from the technology sector. Although Google parent Alphabet and chipmaker Advanced Micro Devices (AMD) both beat expectations, overall cloud revenues at Alphabet and data centre revenues at AMD were […]