US Attempts a New Year’s Rally
North American traders appear to have returned from the New Year’s holiday in an optimistic mood. US index futures are up 0.7% to 1.0%, quickly erasing Tuesday’s US index losses of 0.1% to 0.9%. Cryptocurrencies are also rallying with Bitcoin up 2.3% and Ether up 3.4%. Commodities are also climbing so far with Crude Oil […]
Bitcoin Hits a New High as Traders Digest Economic News
Bitcoin spiked up to a new all-time high overnight above $106,000 on the news that Bitcoin holder MicroStrategy is going to be added to the NASDAQ 100 Index. This means that equity capital flowing into NASDAQ-tracking funds may now circle into Bitcoin as well, potentially accelerating mainstream adoption. NASDAQ futures are up 0.5% on this […]
Bitcoin Breaches $100,000
Markets, being dominated by humans can get drawn psychologically to large numbers. This year we have seen the S&P 500 blast through 5,000 and 6,000, the Dow Industrials rally through 40,000 and 45,000, the Nasdaq clear 20,000 and keep on going and Gold use $2,500 as a launch pad. Today the focus is on cryptocurrencies […]
Positive Earnings Propel Stocks Upward; ADP Payrolls Disappoint
US index futures are up 0.3% to 0.6% this morning but have been backsliding a bit as the morning has progressed. European action is mixed with the FTSE down 0.3% and the Dax up 0.6%. Commodities are mixed with Copper down 0.6% and US Crude Oil up 0.1%. Gold is down 0.3%, while Bitcoin is […]
Positive PMI and Disappointing Bank Earnings
Coming off of Monday’s mixed finish which saw the S&P 500 close at a new all-time high, the NASDAQ gain 1.0% and the Dow Industrials lose 0.3%, US index futures are pretty much flat this morning. European bourses are in the green today with the FTSE up 0.9% and the Dax up 0.2%. Currency trading […]
Global Markets Bounce Back in US Holiday Trading
Although US markets declined heading into the Thanksgiving/Black Friday holiday weekend with declines of 0.3% to 0.6% yesterday, stock markets around the world have been bouncing back this morning. In Europe, the Dax is up 0.7% as German consumer prices showed inflation pressures continue ease, and the FTSE is up 0.1%. Canadian TSX index futures […]
Canada and Cryptos Get Crushed in Trump Tariff Trading
One of the biggest lessons I have learned in my decades as a market analyst and my studies of market and economic history is that markets hate tariffs, markets despise tariffs. Tarriffs dump sand in the gears of the global economy and markets hate them. Hopes that Treasury Secretary nominee Bessent could potentially soften rhetoric […]
Nvidia Rebounds Post-Earnings, Bitcoin Rally Continues
After the close last night, Nvidia earnings beat expectations ($0.81 vs street $0.75). Sales and guidance also beat the street. The shares traded 1-3% underwater through aftermarket and early premarket trading but in the last hour or so, they have started to climb and are currently up nearly 2.0% premarket. Boosted by Nvidia’s rebound, US […]
Nikkei 40,000, Bitcoin 65,000, OPEC and Central Banks In the Spotlight
Equity markets continue to steamroll through big round numbers with the latest being the Nikkei reaching the 40,000 level overnight for the first time in decades. Positive momentum from Asia Pacific trading has slowed as Monday progresses. European markets are mixed with the Dax flat and the FTSE down 0.6%. US index futures are trading […]
Stocks Start to Slide While Cryptocurrencies Soar
Equity market momentum continues to change. After finishing last week strong, US indices treaded water for the first two days of this week but now have started to backslide with US index futures falling 0.25% to 0.50% this morning. Overseas, the Dax is up 0.25% but the FTSE is down 0.7% and in Asia Pacific […]