US Dollar Weakens as Government Shutdown Ends
President Trump signed a funding bill passed by Congress last night ending the US government shutdown effective today. On this news, the US Dollar has been backsliding, enabling Silver, the Euro, and the Pound to all gain 0.3%. Gold is up 0.5%. The Loonie is steady. In commodity action, Copper is up 0.5%, while Crude […]
Stocks Climb as Shutdown Nears an End
Coming off a mixed finish for US equity markets Tuesday, which saw the Dow rally 1.2% to a new all-time high while the NASDAQ lose 0.25%, world market trading has been generally positive overnight and into this morning. In Asia-Pacific trading, the Hang Seng gained 0.9% and the Nikkei rose 0.4%. In Europe, the DAX […]
Gold and Oil Rally in Light Holiday Trading
It’s Remembrance Day/Veterans Day, and while stock markets are open, banks and government offices are closed so it’s a quieter day for trading. The US continues to inch toward a resolution to the government shutdown, but economic and corporate news has otherwise been relatively quiet. Overall, equities appear to be consolidating yesterday’s rally which saw […]
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 […]
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 […]