Mixed World Markets Consider Earnings and Tariffs
Global stock markets are off to a mixed start as the new trading week begins. US index futures are up 0.2%-0.3% and the Hang Seng gained 0.7% overnight. Conversely, the DAX and FTSE are down 0.1%-0.2%, Sydney lost 1.0%, and Tokyo lost 0.2%. In commodity action, Copper is up 0.5%, Crude Oil is flat, and […]
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 […]
Fear Subsides on Reports of Iran Talks
Amid reports of potential talks between European leaders and Iran, and the White House suggesting that the US may take a couple of weeks to decide whether to launch an attack against Iran, investors appear to be dialling down their defensive postures. The price of Brent Crude Oil is down 3.2% this morning while Gold […]
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 […]
Markets Stabilize as Focus Turns to Central Banks
There were no major new developments in the Middle East overnight, so investors’ focus has now turned to central banks with three interest rate decisions due over the next 24 hours. The Fed is expected to announce that it is holding the Fed Funds rate steady at 4.50% at 2:00 pm EDT, leaving investors to […]
Markets Digest War Developments; G7 and Fed Meet This Week
Clawing back some of Friday’s 1.1%-1.8% US index losses, US index futures are up 0.6% to 0.8% this morning. The price of Gold is down 0.5%, the price of Oil is down 1.1% and the price of Bitcoin is up 1.4%. This action suggests that some of the fear which gripped markets when the Israel-Iran […]
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 […]
World Markets Shrug off US Credit Rating Downgrade
Over the weekend, Moody’s cut its rating on US debt to Aa1 from AAA, and on Monday, markets showed resilience in the face of this news. US stock markets finished flat to up 0.2%, clawing back early losses. The US 10-year treasury note yield rallied up to 5.00% then settled back toward 4.45% where it […]
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 […]
Gold Rallies as Investors Turn Cautious
Amid continuing uncertainty about the health of the global economy and the state of the ongoing trade wars, investor sentiment has been turning defensive once again this week. Traditional havens for capital in turbulent times continue to attract capital this morning with Gold up 1.8%, Silver up 2.2% and the Japanese Yen up 0.6%. Meanwhile, […]