Steady Markets Await Interest Rate Decisions and Big Tech Earnings
Coming off yesterday’s moderate pullback, which saw US indices decline 0.3%-0.5%, US index futures are trading flat to up 0.2%. Overseas, the Hang Seng lost 1.3%, the Nikkei was quiet, the FTSE has lost 0.3% and the Dax is up 0.1%. Commodities have erased earlier losses with Crude Oil now flat and Copper now down […]
US-EU Trade Deal Kicks Off a Busy Week For Business News
Over the weekend the US and EU agreed to a new trade deal which includes a 15% tariff on EU goods entering the US. The EU also agreed to buy $750B of US energy and make investments of $600B in the US. This news arrives ahead of Thursday’s deadline to reach new trade deals with […]
Traders Look Ahead to a Big Week Next Week
US index futures are quiet this morning, but overseas markets have been under pressure overnight and into this morning with the DAX down 0.8%, the FTSE down 0.5%, the Nikkei down 0.9%, and the Hang Seng down 1.1%. Commodities are up today with Crude Oil and Copper rising 0.4% and 0.1% respectively. The US Dollar […]
Negative Reactions to Positive Earnings Continue
Earnings reports have continued to trigger selloffs in large cap stocks overnight and into this morning as investors focus more on future outlooks than past results. These moves provide more evidence to suggest that the big market rally of the last three months likely has already priced in high expectations. Chipotle Mexican Grill is down […]
TACO Trade Shifts to the US Dollar
Reports that President Trump has dialled down his threats related to firing Fed Chair Powell has sparked a rally in the US Dollar, suggesting that concerns about the independence of the Fed had been weighing in the currency. Gold is down 0.9%, the Aussie is down 1.0%, the Euro, Loonie and Yen are all down […]
Markets Digest Earnings and Inflation Numbers
US markets are climbing this morning as earnings season gets underway led by a 0.6% gain for NASDAQ futures. Dow futures, European indices including the DAX, CAC, and FTSE, and commodities like Crude Oil and Copper are all quiet this morning. In currency action, Bitcoin is down 2.4%, while Gold is up 0.2%. Economic data […]
Miners and Airlines in Focus Today
Investors have responded positively to the first notable earnings report of this quarter. Delta Air Lines is up 13.5% in premarket trading after beating street expectations for EPS ($2.10 vs street $2.06), and despite cutting its guidance for the year after management indicated that travel demand has stabilized. Earnings season officially gets underway next Tuesday […]
Markets Digest Growing Tariff Threats
Yesterday, President Trump sent out letters to 14 countries, headlined by Japan and South Korea, threatening to raise tariffs starting on August 1st if new trade deals are not reached by then. This news knocked US indices down 0.8%-0.9% and put pressure on markets sensitive to the health of the global economy, particularly Copper. Today finds […]
Growing Tariff Threats Rattle World Markets
World stock markets have stabilized from Friday’s declines as traders await the next developments in the ongoing tariff war between the US and everyone else. With the three-month moratorium ending on Wednesday, the White House has indicated that letters should start going out today to trade partners threatening to bring back the higher tariffs on […]
Stocks Soar on Strong US Job Numbers
Both US Nonfarm Payrolls (147K vs Street 110K) and US weekly jobless claims (233K vs Street 240K) have come in better than expected, sparking a rally in US index futures, which are now up 0.2%-0.3%, heading into tomorrow’s US Independence Day holiday. In other news, Trump’s ‘Big Bill’ continues to move toward a final vote […]