Most Markets Rebound as US Dollar Rally Fades
Building on yesterday’s bounce in North America, Asia Pacific markets rallied overnight. The Nikkei and Hang Seng gained 1.3% and 2.1% respectively. European bourses, on the other hand, are soft today with the DAX and FTSE both down about 0.2%. US index futures are 0.1%-0.2%. The legality of President Trump’s tariff program is in front […]
Markets Digest ADP Payrolls, Earnings Reports and Canada Budget
The AI- and Technology-led retreat in global stocks continued overnight but appears to be moderating this morning. Following a 2.0% decline for the NASDAQ, the Nikkei fell 2.5%, and the DAX slipped 0.5%. There are early signs of stabilization, with the Hang Seng, FTSE, NASDAQ Futures, and Dow Futures all trading steady. Better-than-expected US ADP […]
The Greenback Strikes Back
One of the biggest stories in investing this year has been the U.S. dollar’s worst performance in over half a century; its weakest since the early 1970s. The US Dollar Index, however, appears to have bottomed out back in late September and in the last few days, particularly since Fed Chair Powell dampened expectations for […]
Stocks Rally to Start November
Building on Friday’s gains in North America, stock markets around the world have been rallying overnight and into this morning. Asia Pacific trading saw the Nikkei jump 2.1% and the Hang Seng climb 1.0%. In Europe this morning, the Dax is up 0.9% and the FTSE is up 0.1%. US index futures are flat to […]
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 […]
Trade Summit, Fed Decision and Earnings Move the Markets
There has been a decidedly mixed response from investors following yesterday’s Fed meeting. Although the US central bank announced a 0.25% interest rate cut as expected, and that it will end its Quantitative Tightening program on December 1st, remarks from Chair Powell that a rate cut in December is not a foregone conclusion sent stocks […]
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 […]
Stocks React to Earnings and Employment Reports; Metals Retreat Continues
Earnings season continues with big beats from Celestica* ($2.21 vs Street $2.08, up 10.4% premarket) and UPS ($1.74 vs Street $1.29, up 12.0% premarket). Other companies beating expectations include UnitedHealth (up 4.0% premarket), and PayPal (up 14.1% premarket). Visa and Booking Holdings report after the close today. Meanwhile, ADP has released a new look at […]
Stocks Rally and Gold Retreats as a Busy Week for Market News Kicks Off
The new trading week is off to a positive start so far, with equity bulls responding to reports over the weekend that the US and China have made progress in their trade talks, particularly around China’s exports of rare earths. Trade deals with other Asian countries have also been in the news around the ASEAN […]
Trade Developments and Earnings Drive Market Action Today
New and continuing developments related to tariffs, trade, and sanctions appear to be having a significant impact on the markets. With new sanctions against Russia and Russian energy companies taking hold, Crude Oil is up another 1.00% today, trading near $62.50/bbl. Last night, in response to an advertisement critical of tariffs, President Trump has stopped […]