Mixed Response To Earnings Reports
Last night’s earnings reports were disappointing. Netflix* missed on earnings due to a one-time charge related to a tax dispute in Brazil and is now down 7.5% premarket. Texas Instruments missed by a penny and is also down 7.5% premarket as guidance disappointed. This morning’s results have been stronger than expected with GE Vernova (up […]
Precious Metals Retreat as Investor Focus Turns to Earnings
It’s a busy morning for earnings reports with better-than-expected results from Bank of America, GE Aerospace*, Coca-Cola, Lockheed Martin, 3M*, and General Motors. Results have been well received overall, with most these companies trading up 0.5%-3.0% premarket, and GM jumping 11.5% on positive guidance. Netflix* and Texas Instruments report after the close today. Equity market […]
Equities Rebound As Earnings Season Expands
Equity markets have resumed their upward march this morning to kick off the new trading week. The Hang Seng jumped 2.4% with Shanghai climbing 0.6% and Tokyo gaining 1.6%. In Europe today, the DAX is up 1.2% and the FTSE is up 0.4%. US index futures are up 0.2% to 0.4% building on Friday’s afternoon […]
Precious Metals Reach New Heights
Precious metals and mining stocks continue to soar this morning as traders anticipate further monetary easing from central banks. Gold is up 1.3%, trading above $4.250/oz, while Silver is up 1.8%, trading close to $52.50/oz, and Platinum is up 1.3%, trading above $1,700/oz. Bank of Canada Governor Macklem and several Fed officials are scheduled to […]
Stocks Rebound as Investors Focus on Earnings
Yesterday, equities demonstrated resilience, clawing back most of their early losses, and momentum has turned positive again overnight. In Asia-Pacific trading, both the Nikkei and the Hang Seng rallied by approximately 1.8%. In Europe today, the CAC is up 2.2%, the DAX is steady, and the FTSE is down 0.4%. US index futures are up […]
Gaza Ceasefire and Canada Job Rebound in Focus
The Gaza ceasefire deal, which has the potential to ease tensions in the Middle East, has had mixed implications for markets today. Crude Oil is down 1.4% as supply risks in the wider region ease. Defensive havens like precious metals, however, have not been impacted at all with Gold up 0.8% and Silver up 2.4%. […]
Metals and Oil Keep Climbing
With a 1.5% gain, Gold has blasted through $4,000/oz and continues to advance. It’s another good day for metals overall with Silver up 2.4%, Platinum up 2.3% and Copper up 0.4%. Meanwhile, the price of Oil continues it’s post-OPEC+ meeting rebound with a 1.7% gain so far today. Oil has ignored a larger than expected […]
Metals Approach Big Numbers
Metals continue to march higher today with significant round numbers in sight. Gold is up 0.5% today and has moved within a few dollars of the $4,000/oz level. Silver is holding steady near $48.50/oz, within striking distance of the $50.00 level where it peaked in 1981 and 2011. Copper is up 1.0% today, trading back […]
US Stocks Slide as Government Shuts Down and Payrolls Disappoint
With US politicians failing to reach a budget deal, the US Government has started to shut down, negatively impacting sentiment toward US equities. US index futures are down 0.3% to 0.5%, giving back all of yesterday’s 0.2%-0.4% index gains and more. Equity markets in other parts of the world, meanwhile, have kicked off October with […]
Oil Retreats on Increasing Supply
The price of Crude Oil is under pressure, falling 1.9% this morning. Over the weekend, exports from Iraq’s Kurdistan region resumed. In addition, traders have been speculating that OPEC+ may agree to an additional supply increase when it meets later this week. The new trading week is off to a positive start for stocks. US […]