Semiconductor Selloff and Rising Layoffs Drag on Markets
The weight of high AI growth expectations and valuations appears to be catching up to the Semiconductor sector. Last night Marvell Technologies beat the street by a penny on both EPS and guidance. That news, however, clearly was not good enough for many investors as Marvell shares are down 18.6% premarket and dragging other chipmakers […]
Winds of Change Steer Stocks Upward
Much of the focus of investors has been on change in and related to the United States since President Trump returned to office in January. There have been developments on government spending, tariffs, the Ukraine War, international relations, domestic issues and more, capped off by President Trump’s speech to Congress last night. Today, the focus […]
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 […]
Stirred, Not Shaken
The last 24 hours have seen significant divergences in performance across world markets including overnight and into this morning. In the US, Dow futures are down 0.4%, adding to yesterday’s 1.0% Dow loss. NASDAQ futures are up 0.3%, clawing back most of yesterday’s 0.4% NASDAQ loss. Overseas, the Hang Seng soared to 4.0% to close […]
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 […]
Stocks Slip Ahead of Powell Testimony
Yesterday’s equity market rally which saw major US indices gain 0.4% to 1.0% appears to have run out of steam this morning. US index futures are currently giving back some of yesterday’s gains, falling 0.2%-0.4%, while in Europe, the Dax and FTSE are essentially flat. President Trump launching 25% tariffs on Steel and Aluminum may […]
Stocks Climb Despite Looming Tariffs
Bouncing back from Friday’s US index declines of 0.9% to 1.4%, US index futures are up 0.5% to 0.7% to start the new trading week. Overseas trading finds the Dax up 0.5%, the FTSE up 0.7% and the Hang Seng up 1.8%. Crude Oil is up 1.4%, Natural Gas is up 3.5% and Copper is […]
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 […]