Traders Turn Cautious as Focus Turns to Tech Earnings
Please note: The Morning Minutes will not be issued tomorrow. They should return on Monday, December 15th. The Fed meeting has come and gone, leaving mixed signals. While the FOMC did cut rates by 0.25% as expected, there were two hawkish dissenters and one dovish dissenter. The dot plot forecast for 2026 suggested that the […]
Pre-Holiday Data Drop
Equities have continued to climb overnight with the rally broadening. In yesterday’s US trading, the Russell 2000, with a 2.1% gain, and the Dow Industrials, with a 1.4% gain, led the market higher. This morning’s pre-holiday trading finds Dow futures steady and NASDAQ futures up 0.4%. Overseas, the DAX climbed 0.4%, the FTSE rose 0.2% […]
Fed Speculation Drives Big Market Reversals
It has been a roller coaster 24 hours for global markets, particularly risk and AI plays. Yesterday’s early enthusiasm around strong Nvidia earnings completely fell apart and stocks across several sectors staged big bearish reversals. A positive start turned into a rout as the NASDAQ lost 2.1% and the Dow dropped 0.9%. The catalyst for […]
Stocks Rally on Strong Nvidia Earnings
After the close last night, Nvidia reported better than expected earnings ($1.30 vs Street $1.25), sales ($57.0B vs Street $54.9B), and guidance. Nvidia is up 5.0% in premarket trading and this news has also reignited wider interest in AI related stocks. NASDAQ futures are up 1.8% this morning, while Dow futures are up 0.6%. In […]
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 […]
Big Earnings from Big Tech Boost Stocks
Peak week for US big cap earnings wraps up today on a positive note. Last night, Apple ($1.85 vs Street $1.78, up 2.2% premarket), Amazon.com ($1.95 vs Street $1.57, up 13.1% premarket) and MasterCard ($4.38 vs Street $4.32) all beat expectations, as have Exxon Mobil ($1.88 vs Street $1.82), Chevron ($1.85 vs Street $1.71) and […]
Two Central Banks and a Bunch of Earnings
It’s central bank decision day in North America. At 9:45 am EDT, the Bank of Canada is expected to announce a 0.25% interest rate cut to 2.25%. At 2:00 pm today, the Federal Reserve Board is widely expected to announce a 0.25% interest rate cut to 4.00%. In addition to the interest rate news, investors […]
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 […]