Disappointing Economic Numbers From the US and Canada
The new trading week has kicked off with a series of disappointing economic reports out of North America. US retail sales slowed significantly from a year ago (3.1% vs previous 3.9%) as retail sales over month disappointed (0.2% vs street 0.7%). The Empire State Manufacturing Index staged a severe and surprising drop (-20.0 vs street […]
Bank Earnings Start Strong; Cryptocurrencies Crumble
US index futures are trading flat to up 0.1% this morning as they try to regain their footing from recent losses, including declines of 0.5% for the S&P 500 and 1.2% for the NASDAQ yesterday. European markets are climbing this morning with the Dax up 0.25% and the FTSE up 0.5%. The biggest action this […]
Walmart Earnings and Tariff Risk Weigh on US Markets
Walmart*, kicked off earnings season for US retailers with disappointing numbers, sending its shares down 4.6% in premarket action. The world’s biggest retailer beat the street by a penny on earnings, beat on sales ($180.5B vs street $180.1B), grew US same store sales over year by 4.6% and raised its dividend by 13%. That all […]
Backing and Filling
The morning after the S&P 500 reached a new all-time high finds US index futures trading flat to down 0.2% with Dow Futures leading the way back downward. This appears to be mainly due to common consolidation after a move, and a lack of new developments to push markets higher. The only notable economic report […]
Positive Start to a Shortened Trading Week
US traders have returned from the long weekend in a good mood. US index futures are up 0.2%-0.5%. Europe is now in the green with the Dax and FTSE both up about 0.2%. Asia Pacific trading saw the Hang Seng rally 1.6%. The US Dollar is dropping back a bit today. Gold is up 1.0%, […]
Markets Digest Inflation and Earnings News
US Producer prices came in hotter than expected this morning (3.5% vs street 3.2% and previous 3.3%), confirming the increase in inflation seen in yesterday’s US consumer price report. Tomorrow brings US retail sales for this month. Unlike yesterday where stocks sold off on the prospects of rising inflation, traders appear to be taking today’s […]
US Dollar Rallies Amid Rising Inflation and Falling Stocks
US Consumer Prices (3.0% vs street 2.9%), and US Core CPI (3.3% vs street 3.1%) both came in higher than expected, suggesting that inflation may be bottoming out and starting to turn back upward. US index futures have plunged in the minutes following the release of these numbers. Currently US index futures are down 0.9%-1.0% […]
Stocks Slip Ahead of Powell Testimony
Yesterday’s equity market rally which saw major US indices gain 0.4% to 1.0% appears to have run out of steam this morning. US index futures are currently giving back some of yesterday’s gains, falling 0.2%-0.4%, while in Europe, the Dax and FTSE are essentially flat. President Trump launching 25% tariffs on Steel and Aluminum may […]
Trade War Focus Turns To China
Stocks and currencies have stabilized overnight after President Trump postponed the implementation of tariffs against Canada and Mexico for one month after agreements were reached to improve border security. New 10% tariffs continue, however, and China has retaliated with new tariffs against some US goods and regulatory investigations against some US companies. This morning finds […]
Trade Turmoil Rocks World Markets
Tariffs throw sand into the gears of global commerce and markets have long hated them. They hated them in the Depression, they hated tariffs in 2002, and the hated them at other times over the decades. It should come as no surprise to anyone then that after markets ignored the looming threat of a trade […]