Extended War Trades and Retailer Earnings
The prospect that the conflict with Iran could drag on and pose risks to energy production and global supply chains appears to be driving capital flows across world markets overnight. The Monday rebound, which carried US indices to a roughly flat finish, has faded. Overseas markets have sold off, including declines of 3.1% for the […]
Oil Rallies, Stocks Retreat as Iran Conflict Escalates
Geopolitical risk and volatility increased over the weekend after the US and Israel launched air strikes against Iran, which retaliated against several countries. Reports also indicated internal unrest following the loss of several of its former leaders. Amid a growing risk of oil supply disruptions, OPEC+ announced a 206K bbl/d production increase starting in April. […]
Oil and Metals Rally as Markets Assess Inflation Data
US producer prices for January suggest inflation pressures may be building, as both headline PPI (2.9% vs Street 2.6%) and core PPI (3.6% vs Street 3.0%) came in above expectations. Metals are surging this morning. Platinum is up 7.7%, while Silver is up 4.3%, Copper is up 2.1%, and Gold is up 1.0%. While hard […]
Traders Digest Big Tech Results
There has been a mixed response to last night’s earnings reports. Nvidia is up 1.1% in premarket trading after the flag bearer of the AI cycle beat the Street on sales ($68.1B vs Street $66.2B), earnings ($1.62 vs Street $1.54), and sales guidance ($78.0B vs Street $72.6B). Meanwhile, Salesforce is down 2.5% premarket after issuing […]
Stocks Rally Ahead of Nvidia Earnings
Building on yesterday’s sharp turnaround, which saw US indices shrug off Monday’s losses with gains of 0.8% to 1.0%, stock markets have continued to climb overnight and into the morning. Asia-Pacific trading saw the Nikkei surge 2.2%, while Australia gained 1.2%. European markets are also higher, with the DAX up 0.4% and the FTSE up […]
Storms of All Sorts Weigh on Stocks
It has been a stormy weekend, both literally and metaphorically. Much of the US East Coast is shut down as a large Nor’easter moves through. Following Friday’s Supreme Court decision, President Trump raised the new global blanket tariff to 15% from 10% over the weekend. Mexico has been unsettled following the killing of a major […]
Stocks Fall as GDP and Inflation Reports Suggest Stagflation
A significant miss in US Q4 GDP, which came in well below expectations (1.4% vs Street 3.0% and previous 4.4%), has sparked a stock market selloff. On the inflation front, Canada producer price inflation jumped in January, with both industrial prices (2.7% vs Street 0.2%) and raw material prices (7.7% vs Street 0.7%) coming in […]
Positive Economic Reports Boost Stocks
Stocks and commodities are climbing this morning, responding to some positive economic news. Overnight the Reserve Bank of New Zealand held its benchmark interest rate at 2.25%. This morning, US durable goods orders, housing starts and building permits all beat expectations. US industrial production is due at 9:15 am EST. US index futures are up […]
Stocks Slip in Mixed Holiday Trading
Lighter holiday trading continues, with several overseas markets still closed for Lunar New Year. US index futures are down 0.3% to 1.0% so far, with the NASDAQ leading to the downside. European trading is mixed, with the DAX down 0.1% and the FTSE up 0.2%. As talks between the US and Iran get underway today, […]
World Markets Continue to Stabilize
The bout of volatility that kicked off February appears to be easing as the long weekend approaches. US index futures are higher by 0.1% to 0.2%, essentially clawing back yesterday’s losses. Overseas, the DAX is up 1.4%, while the FTSE and the Nikkei are flat and the Hang Seng fell 0.9%. Metals trading shows Gold […]