Big Swings From Fed’s “Hawkish Cut” Continue
Yesterday afternoon we saw the worst reaction to a December Fed decision since 2018. The Fed announced a “hawkish cut”, where they cut the Fed funds rate by 0.25% as expected, but signaled in the dot plot of FOMC member forecasts that they are only expecting 2 quarter point rate cuts next year instead of […]
Global Markets Rebound as FOMC Decision Looms
Shrugging off yesterday’s US index losses of 0.3%-0.6%, US index futures are up 0.2%-0.4% this morning. Over in Europe, the FTSE is up 0.1% and the Dax is up 0.2%. Chinese markets are also bouncing back with Hong Kong rising 0.8% and Shanghai gaining 0.6%. Commodities are also picking up today with US Crude Oil […]
Stocks Backtrack Despite Strong Retail Sales
US trading is subdued this morning with index futures trading down 0.3%-0.5%. Even red-hot Broadcom, which soared another 11% yesterday, appears to be slowing down, dipping 0.5% in premarket trading. Over in Europe, the Dax is down 0.2%. The FTSE is down 0.8% on signs of stagflation as employment growth slowed and wage inflation accelerated. […]
Swiss Surprise
A day after the NASDAQ Composite Index reached 20,000 for the first time, US index futures are backsliding a bit this morning with declines of 0.1% to 0.4% in the wake of a disappointing US inflation report. Over in Europe, the FTSE, CAC and Dax are all flat. Asia Pacific markets rallied overnight, as both […]
US Inflation and Bank of Canada Meeting In Focus Today
US index futures are trading up 0.1% to 0.4% following the release of a relatively benign US inflation report, as they try to shake off yesterday’s US index declines of 0.2% to 0.3%. Over in Europe, the Dax is flat and the FTSE is up 0.3%. US Consumer prices were in line with expectations, up […]
Bitcoin Breaches $100,000
Markets, being dominated by humans can get drawn psychologically to large numbers. This year we have seen the S&P 500 blast through 5,000 and 6,000, the Dow Industrials rally through 40,000 and 45,000, the Nasdaq clear 20,000 and keep on going and Gold use $2,500 as a launch pad. Today the focus is on cryptocurrencies […]
Positive Earnings Propel Stocks Upward; ADP Payrolls Disappoint
US index futures are up 0.3% to 0.6% this morning but have been backsliding a bit as the morning has progressed. European action is mixed with the FTSE down 0.3% and the Dax up 0.6%. Commodities are mixed with Copper down 0.6% and US Crude Oil up 0.1%. Gold is down 0.3%, while Bitcoin is […]
Global Markets Bounce Back in US Holiday Trading
Although US markets declined heading into the Thanksgiving/Black Friday holiday weekend with declines of 0.3% to 0.6% yesterday, stock markets around the world have been bouncing back this morning. In Europe, the Dax is up 0.7% as German consumer prices showed inflation pressures continue ease, and the FTSE is up 0.1%. Canadian TSX index futures […]
Strong Start to a Short Week
Equity markets are off to a positive start this week with US index futures up 0.5%-0.7%, building on overseas gains of 0.4% for both the FTSE and Dax and 1.3% for the Nikkei. The Ukraine conflict didn’t worsen over the weekend and investors appear to be pleased with incoming President Trump’s pick for Treasury Secretary. […]
Target Misses, Investors Await Afternoon Nvidia Earnings
US index futures are up moderately this morning with gains of 0.2%-0.4% so far. Hong Kong and continental European markets are up about the same while the FTSE is up 0.2%. UK trading appears to be lagging after the country’s latest consumer price index report (2.3% vs street 2.2% and previous 1.7%) suggested that inflation […]