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Building on Monday’s relief rally in North America that saw the three main US indices plus the S&P/TSX jump 2.2%-2.4%, overseas markets have been soaring overnight. Asia Pacific trading saw Sydney soar 3.75% and Tokyo climb 3.0%. European trading finds
The stock market rebound which started on Wednesday has continued to accelerate overnight. In Asia Pacific trading, the Hang Seng soared 2.7%, while in Europe this morning, both the Dax and the FTSE are up 1.4%. US premarket trading finds
Yesterday’s US market rally, which saw major indices snap multi-day losing streaks with gains of 1.4% to 2.1%, which appears to have been a trading bounce, easing oversold conditions as there has been limited follow-through overnight and into this morning.
Today has the potential to bring a showdown between two long-standing market memes; “Don’t fight the tape”, and “Don’t fight The Fed”. Historically these have been complementary or even interchangeable. For the last month, however, they have been in opposition
Continuing on from the weak finish to last week, stock markets around the world are under pressure once again as the new trading week begins. Fears that the Fed could confirm its hawkishness at this week’s Jackson Hole Symposium has
US index futures are essentially flat today with all three main contracts trading between -0.1% and +0.1%. European indices are also soft today with the Dax down 0.4% and the FTSE falling 0.2%. Italy is down 0.9% today as investors
The first day of US earnings season finds index futures getting hammered 1.1% to 1.6%, accelerating yesterday’s US index losses of 0.2%-0.6%. European markets are also selling off today with the Dax down 1.3% and the FTSE down 1.0%. The
US index futures had been trying to mount a comeback this morning, but the bottom has fallen out and gains have quickly turned into losses following the release of a red-hot US consumer price inflation report. US inflation continued to
Late yesterday afternoon, it appears that some investors tried to put a positive spin on yesterday’s larger than expected Fed rate hike (0.75% vs street 0.50% to 1.75%), perhaps on the notion that the faster the Fed raises rates, the
Fed decision day is finally here. A 0.5% hike remains the consensus expectation among investors but investors may look to the statement for hints on whether tightening could accelerate. The 10-year US treasury note yield has dropped back toward 3.35%
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