Steady Markets Await Trump Speech as Earnings Season Continues
Amid all the geopolitical turbulence of late, markets appear to be in the calm eye of a storm currently. President Trump is scheduled to speak to global political and business leaders today at the Davos Conference, but the timing is unclear as his flight was delayed. The dispute with Europe over Greenland remains front and […]
Traders go Defensive as US Returns to Trading
With the dispute between the US and Europe over Greenland escalating amid more tariff threats and President Trump heading to Davos for meetings this week, traders have shifted to a more defensive stance. US investors have apparently returned from the Martin Luther King holiday in a selling mood. Index futures are down 1.3% to 1.7% […]
Greenland Tariff Threats and China Data Move Markets
The US being closed for Martin Luther King Day has not stopped markets anywhere else from reacting decisively to weekend developments. President Trump announced plans to introduce a 10% tariff on 8 European countries starting February 1st over their opposition to the US attempt to take over Greenland, further increasing political tensions. Needless to say, European […]
Markets Digest Recent Developments in Pre-Holiday Trading
It’s options expiry day and the Friday before a long weekend in the US. With less news flow today, traders appear to be repositioning and digesting this week’s earnings and economic news. Consolidating yesterday’s US rebound, index futures are trading flat to up 0.4% with the NASDAQ the strongest. European markets are flat to moderately […]
Oil Sells Off as Iran Tensions Ease
Iran risk trades have reversed this morning after President Trump suggested overnight that the killing of protesters has stopped. With fears of escalation fading for the moment, the price of Crude Oil has dropped 4.1% and is back under $60.00/bbl. The fear trade in precious metals is reversing more moderately this morning with Gold down […]
Supreme Court Tariff Decision Looms as Bank Earnings Continue
The US Supreme Court is expected to release decisions on a number of cases around 10:00 am EST today. One of these may address the legality of President Trump’s tariff programme. Whether the court rules yes or no, or does not issue a decision at all, could have a significant impact on trading today across […]
Oil Rallies and Earnings Season Starts
Earnings season in the US has kicked off this morning with a mixed reaction to decent results. JPMorgan Chase ($5.23 vs Street $5.00) is up slightly premarket as strong trading revenues helped it to beat street expectations. Bank of New York Mellon* ($2.02 vs Street $1.91) is down slightly premarket. Delta Air Lines ($1.55 vs […]
US Markets Slip as DOJ Investigation Raises Fed Independence Concerns
Over the weekend, the US Department of Justice launched a criminal investigation into Fed Chair Powell related to renovation expenses at the Fed’s headquarters. Investors appear to be interpreting this as a move by the White House that could reduce the independence of the US central bank, weighing on confidence in the country. President Trump […]
Stocks Soar on Soft Payrolls
A slightly weaker than expected US Nonfarm Payrolls report (50K vs street 60K) has ignited a rally in US index futures with investors apparently interpreting the news and supporting continued US interest rate cuts. US index futures are currently up 0.3% to 0.4%. Over in Europe, the Dax is up 0.7% and the FTSE is […]
Stocks Slide as New Year’s Rally Appears to Fade
Investor enthusiasm that opened the week appears to be fading quickly. Yesterday’s US pullback, which saw the Dow decline 1.0%, has extended overnight and into this morning. In Asia, the Nikkei fell 1.6% while the Hang Seng declined 1.2%. European markets are also under pressure this morning, with both the DAX and the FTSE down […]