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 […]
Equities Rebound As Earnings Season Expands
Equity markets have resumed their upward march this morning to kick off the new trading week. The Hang Seng jumped 2.4% with Shanghai climbing 0.6% and Tokyo gaining 1.6%. In Europe today, the DAX is up 1.2% and the FTSE is up 0.4%. US index futures are up 0.2% to 0.4% building on Friday’s afternoon […]
Precious Metals Reach New Heights
Precious metals and mining stocks continue to soar this morning as traders anticipate further monetary easing from central banks. Gold is up 1.3%, trading above $4.250/oz, while Silver is up 1.8%, trading close to $52.50/oz, and Platinum is up 1.3%, trading above $1,700/oz. Bank of Canada Governor Macklem and several Fed officials are scheduled to […]
Stocks Rebound as Investors Focus on Earnings
Yesterday, equities demonstrated resilience, clawing back most of their early losses, and momentum has turned positive again overnight. In Asia-Pacific trading, both the Nikkei and the Hang Seng rallied by approximately 1.8%. In Europe today, the CAC is up 2.2%, the DAX is steady, and the FTSE is down 0.4%. US index futures are 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 […]
Metals Approach Big Numbers
Metals continue to march higher today with significant round numbers in sight. Gold is up 0.5% today and has moved within a few dollars of the $4,000/oz level. Silver is holding steady near $48.50/oz, within striking distance of the $50.00 level where it peaked in 1981 and 2011. Copper is up 1.0% today, trading back […]