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 […]
FTSE Rallies, Sterling Sinks on UK Rate Cut
The Bank of England cut its benchmark interest rate by 0.25% as had been widely expected. This has sparked significant moves in the UK market today with the FTSE gaining 1.6% and the Pound falling 1.1%. In comparison, the Euro, Aussie, Loonie and Gold are all down about 0.3% against the US Dollar. Equity market […]
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 […]
Traders Focus on Earnings While Tariff Threat Looms Larger
A week that started with a selloff appears set to finish with a rally into month-end. US index futures are up 0.2%-0.8% with NASDAQ futures leading the advance. Over in Europe, the Dax is up 0.2% and the FTSE is up 0.3%. Commodity action is mixed with Crude Oil up 0.2% and Copper down 0.4%. […]
Earnings In Focus as Mega Caps Report Results
Coming off a day of 0.3%-0.5% declines for US indices, US index futures are mixed with Dow futures down 0.2% and NASDAQ futures up 0.6%. European trading finds the Dax up 0.2% and the FTSE up 0.5%. We’re in the heart of earnings season now and a lot of big names have reported overnight and […]
Interest Rate Decisions and Big Tech Earnings In Focus Today
Yesterday’s big bounce by the tech sector that drove the NASDAQ back up 2.0% appears to be running out of steam for now as investors turn their focus to major earnings releases and central bank decisions. Overnight, Starbucks ($0.69 vs street $0.67, up 2.5% premarket) beat expectations on earnings. Several big-name technology companies report after […]
Stock Selloff and Energy Rally Continue
Equity investors and cryptocurrency traders continue to react negatively to last week’s stronger than expected US Nonfarm Payrolls report. Signs of strength in the US economy have added to speculation that there could be significantly fewer interest rate cuts in the US this year dampening the easy money speculation that had underpinned 2024 gains in […]
Stocks and Bonds Retreat as Treasury Yields Climb; ADP Payrolls Miss
Adding to yesterday’s US index losses of 0.4% to 1.9%, US index futures are down 0.1% to 0.2% this morning. European bourses are in red across the board with the CAC down 1.0%, the FTSE down 0.6% and the Dax down 0.3%. Asia Pacific trading saw the Hang Seng lose 0.9%. The 10-year US treasury […]