Positive Economic Data Boosts the US Dollar
This morning, several key US economic indicators have come in significantly better than expected. The latest US Q2 GDP update (3.8% vs Street 3.3%), and durable goods orders (2.9% vs Street -0.5%) suggest a more robust economy than previously thought. Meanwhile, fewer than expected weekly initial jobless claims (218K vs previous 232K) suggest US labor […]
Stocks Rebound Following a Correction
Yesterday’s pullback in North American equities from recent all-time highs, which saw the NASDAQ lose 1.0% and the S&P slide 0.6%, appears to have been short lived. Better than expected earnings from chipmaker Micron Technology ($3.03 vs Street $2.86) appears to have shored up confidence. This morning finds US index futures trading flat to up […]
Stocks Consolidate This Week’s Gains
Coming off two days of big developments, including the first US interest rate cut of 2025 and Nvidia’s investment in Intel, stocks have paused for investors to digest the news. US and Chinese leaders are meeting today to finalize their deal on TikTok. US index futures are trading flat to up 0.2% coming off gains […]
Buckle Up, it’s Central Bank Decision and Forecast Day!
Steady markets are awaiting today’s monetary policy decisions from North America’s two main central banks. Both the Fed (2:00 pm EDT decision) and the Bank of Canada (9:45 am EDT) are expected to lower their benchmark interest rates by 0.25% to 4.25% and 2.50% respectively. With employment weakening on both sides of the border investors […]
US Dollar Slides as Traders Await Tomorrow’s Interest Rate Decisions
The US Dollar continues to retreat this morning with the Fed expected to cut its Fed Funds interest rate when its meeting concludes tomorrow afternoon. The Euro, Yen, Pound, and Gold are all up 0.2% to 0.3%, with the yellow metal reaching another new all-time high. The US 10-year treasury note yield is steady just […]
Signs of Stagflation Weigh on Stocks and the US Dollar
The SIA Wealth Morning Minutes will not be issued tomorrow. They should return on Monday September 14th. More signs of Stagflation emerged this morning. US consumer prices increased last month in line with expectations (2.9% vs street 2.9% and previous 2.7%). Perhaps more importantly, we received another troubling employment number as weekly US initial jobless […]
Mega Mining Merger Tops Today’s Trading News
Two mining giants have agreed to merge overnight. Canada’s Teck Resources and the UK’s Anglo American have agreed to combine into Anglo Teck, a company with a $53 billion combined market cap and interests in copper, platinum, diamonds, iron ore and other resources. The company plans to be headquartered in Canada with its primary stock […]
Energy Markets Rally With Overseas Politics in Focus
After finishing flat to slightly lower on Friday, US markets are trading flat to slightly higher this morning, led by a 0.3% gain in NASDAQ futures. Investors continue to weigh the implications of last week’s disappointing U.S. employment numbers, balancing the potential for interest rate cuts against the risks a slowing economy poses to corporate […]
Dismal Employment Numbers Increase Rate Cut Pressures
Employment numbers from both sides of the border were rough this morning, increasing pressure on both the Fed and the Bank of Canada to resume cutting interest rates. While the US managed to eke out less than expected job growth (22K vs Street 75K), Canada saw steep and accelerating job losses for a second month […]
Commodities Retreat as Traders Digest Disappointing Job Data
US index futures have started to tumble in the wake of disappointing data out of the US but currently remain flat to slightly in the green, with NASDAQ futures up 0.2%. Overseas markets have been stronger with the DAX up 0.8%, the FTSE up 0.3%, and the Nikkei up 1.5%. China stocks struggled, however, with […]