Rising Inflation Sinks Stocks, Sparks US Dollar Rally
US index futures have turned sharply downward after US producer prices jumped in July (3.3% vs Street 2.5% and previous 2.3%), contradicting Tuesday’s consumer price report and suggesting that tariffs may be starting to drive up inflation. US core PPI (excluding food and energy) was even worse (3.7% vs Street 2.9 and previous 2.6%). US […]
Stock Markets Continue to Climb
Yesterday was a banner day for US equity markets with the small cap Russell 2000 rallying 3.0% and the large cap indices gaining 1.1%-1.4%, sending the S&P 500 and the NASDAQ Composite to new all-time highs. This morning finds the three main index futures contracts up another 0.2%-0.3%. Positive momentum has continued overnight with the […]
Trade and Inflation News Boost Stocks
US index futures are climbing again today with gains of around 0.4% for the three main contracts. Overnight, President Trump announced another 90-day delay to the imposition of tariffs on China to allow talks to continue. This was particularly well received in Japan, where the Nikkei rallied 2.1%, while the Hang Seng gained 0.3%. This […]
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 […]
Mixed Reaction to Day 2 of Earnings and Inflation Reports
Wednesday morning finds US index futures divided between a 0.2% gain for Dow Futures and a 0.2% loss for NASDAQ futures. In Europe today the DAX is up 0.5% and the FTSE is up 0.3%. Energy action is mixed with Crude Oil down 1.0% following a big build of 19.1 mmbbls in US API weekly […]
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 […]
Stocks Slide Amid Central Bank Decisions
US exchanges are closed for the Juneteenth holiday, but that has not stopped traders from reacting to political and monetary developments. Overseas markets are down in overnight trading with Hang Seng losing 2.0%, the Nikkei sliding 1.0%, the DAX dropping 0.6%, and the FTSE falling 0.4%. US index futures are down 0.4%-0.6% ahead of closing […]
US Political Woes Weigh on Wall Street
For much of this year, market movements have been driven by international political developments, particularly trade and tariff tensions between the US and other major economies. This week, however, the focus has shifted to domestic politics, as attention turns to the White House’s tax and spending bill currently moving through Congress. Concerns that the bill […]
Investor Confidence Continues to Improve
Business-related news has been quiet overnight. President Trump is returning from his trip to the Middle East, and trade talks appear to be progressing on several fronts. In the absence of negative developments and amid an encouraging tone overall, equity markets continue to rise. Heading toward the weekend, US index futures are up 0.3% across […]
Stocks Backslide Amid Mixed Earnings and Economic Numbers
Thursday morning finds stock markets around the world slipping as their recent rally fades. US index futures are down 0.4% to 0.7%, while in Europe, the DAX is down 0.1% and the FTSE is up 0.2%. Overnight, the Hang Seng lost 0.8% and the Nikkei fell 1.0%. The US 10-year Treasury yield is steady near […]