Quiet Markets Focus on Turkey, Football and Shopping
US equity markets went into the Thanksgiving holiday weekend on a roll, with the major indices climbing 0.6%-0.8% to cap off three days of gains. Positive momentum has generally continued overnight and into this morning, with the Nikkei up 1.2%, the DAX up 0.2%, and the FTSE down 0.1%. Bitcoin is bouncing back with a […]
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% […]
Technology Rally Slows as US Holidays Approach
Coming off a spectacular surge for US tech stocks, that saw the NASDAQ pop 2.7% as the AI trade roared back to life, overseas markets have been posting more moderate gains. The Hang Seng rose 0.7%, the Nikkei was flat, the DAX is up 0.6% and the FTSE is up 0.4%. US index futures are […]
Mixed Pre-Thanksgiving Trading
The US holiday-shortened final week of November is off to a mixed start with traders continuing to digest the recent correction in AI-related stocks and continuing to speculate on whether the Fed will continue cutting interest rates or not next month. Building on Friday’s rebound that saw US indices gain 0.9%-1.0%, US index futures are […]
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 Stabilize as Traders Await Nvidia Earnings
The correction in AI related stocks continued yesterday, pulling US indices down between 1.0% and 1.2%. In overnight Asia Pacific trading, the Nikkei and the Hang Seng also declined between 0.3% and 0.4%. This morning, stocks appear to be stabilizing. NASDAQ futures are up 0.2%, Dow futures are up 0.1%, the DAX is up 0.3%, […]
Stocks Keep Sliding as Home Depot Disappoints
Yesterday’s retreat in US markets, which saw major indices fall 0.8% to 1.2%, has continued overnight and into this morning. US index futures are down another 0.6%-0.7%, while overseas, the Nikkei plunged 3.2%, the Hang Seng fell 1.7%, the DAX has dropped 1.5%, and the FTSE has fallen 1.4%. Crude Oil is flat in commodity […]
Choppy Markets Await Earnings and Economic News
Global markets opened the week on a muted note, with most major indexes trading flat to slightly lower. Overseas equities softened overnight, with the Hang Seng down 0.7 percent, the Nikkei off 0.1 percent, the DAX lower by 0.6 percent, and the FTSE down 0.2 percent. U.S. index futures are hovering flat to marginally negative. […]
Technology-Led Selloff Continues
Yesterday’s US retreat, which was led by technology and small cap stocks, primarily related to the Artificial Intelligence trade, has continued overnight and into this morning. In Asia Pacific trading, the Hang Seng and the Nikkei both fell about 1.8%. Today’s trading in Europe finds the DAX, FTSE, and CAC down 0.6%-1.8%. US index futures […]