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Adding to yesterday’s US index losses of 0.5% to 0.8%, US index futures are trading down 0.2%-0.4% this morning, while major European indices are down 0.8%-1.0%. Crude oil has stabilized, while metals are climbing with Gold and Copper both up
US markets have started to bounce back this morning from yesterday’s very mixed US trading which saw Banks and Energy drag the Dow and S&P to losses of 1.1% each, while the NASDAQ finished flat. US index futures are trading
Overnight, the Reserve Bank of Australia stunned the world with the announcement of a surprise 0.25% interest rate increase to 3.85%, resuming tightening after being on hold for its last two meetings. On this news, the Australian Dollar rallied 0.9%
Over the next 24 hours, three of the world’s major central banks are holding interest rate decision meetings. The main event today is the US Fed meeting with an interest rate decision, statement, and member projections due at 2:00 pm
It has been a good news, bad news evening and morning for banks and the markets. On the positive side, the Fed and the US Government stepped in with a plan to backstop depositors at Silicon Valley Bank in a
With the US Federal Reserve Board (yesterday afternoon) and the Bank of England (this morning) both raising their benchmark interest rates by 0.75% as expected, continuing the general trend toward monetary tightening, stock markets and commodities around the world have
US index futures, along with the Dax and FTSE have been listless this morning, bouncing between -0.2% and +0.2%, with many investors apparently sitting on their hands, reluctant to commit ahead of today’s FOMC decision. Natural Gas has been active
What has recently appeared to be a relentless trend of soaring treasury yields and US Dollar gains steamrolling over equities, bonds, commodities and non-US currencies appears to have relented a bit for the moment. US index futures are up 1.0%
Today has the potential to bring a showdown between two long-standing market memes; “Don’t fight the tape”, and “Don’t fight The Fed”. Historically these have been complementary or even interchangeable. For the last month, however, they have been in opposition
Bouncing back from a mixed Friday, US index futures are in the green to start the new trading week with gains of 0.4%-0.6% for the three main contracts. European market action has also been positive this morning with the Dax
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