Canada Employment Drop Weighs on the Loonie
For the most part, recent economic news has been discounted as the Iran War has changed so much for the world economy over the last two weeks. Some pre-war economic trends have been getting attention, one of which is a decline in employment over the winter even before the war started. For the second month […]
Oil Climbs as Iran War Continues
Iran war developments continue to influence trading across world markets. Yesterday’s news that the 32 member countries of the IEA would release 400 mmbbls from strategic reserves was not enough to keep prices down for very long as Iran continued attacks against commercial shipping in the Persian Gulf. This morning finds Crude Oil contracts on […]
Crude Oil Climbs Again as Markets Watch Strait of Hormuz
Amid reports that the US is attempting to prevent Iran from laying mines in the Strait of Hormuz to block shipping, a sign that the conflict may not be over yet, the price of Crude Oil has started to rebound from yesterday’s selloff. US Crude and Brent Crude are up 3.9% to 4.1% respectively this […]
Catchups and Pullbacks
Yesterday afternoon, President Trump indicated to a reporter that the Iran War may be close to over and separately threatened to hit Iran if they try to close the Strait of Hormuz. These comments sparked a rebound in stocks and a retreat in Crude Oil prices which had crossed over $100.00/bbl earlier in the day. […]
Oil Surges Above $100.00 Per Barrel
As conflict continues in the Middle East, disruption to energy production and shipping, along with the possibility that the situation could drag on for some time, appears to be increasingly reflected in oil prices. This morning finds both US Crude and Brent Crude up more than 11.1%, with both trading above $100.00/barrel, while the price […]
Nonfarm Payrolls Disappointment Extends Stock Selloff
A surprise contraction in US February nonfarm payrolls (-92K vs Street +59K) has sparked another round of selling in US equities this morning. US index futures are down 0.7% to 1.0% with the NASDAQ leading the way downward. European markets are also retreating this morning, with the DAX down 0.6% and the FTSE falling 0.5%. […]
Extended War Trades and Retailer Earnings
The prospect that the conflict with Iran could drag on and pose risks to energy production and global supply chains appears to be driving capital flows across world markets overnight. The Monday rebound, which carried US indices to a roughly flat finish, has faded. Overseas markets have sold off, including declines of 3.1% for the […]
Oil Rallies, Stocks Retreat as Iran Conflict Escalates
Geopolitical risk and volatility increased over the weekend after the US and Israel launched air strikes against Iran, which retaliated against several countries. Reports also indicated internal unrest following the loss of several of its former leaders. Amid a growing risk of oil supply disruptions, OPEC+ announced a 206K bbl/d production increase starting in April. […]
Oil and Metals Rally as Markets Assess Inflation Data
US producer prices for January suggest inflation pressures may be building, as both headline PPI (2.9% vs Street 2.6%) and core PPI (3.6% vs Street 3.0%) came in above expectations. Metals are surging this morning. Platinum is up 7.7%, while Silver is up 4.3%, Copper is up 2.1%, and Gold is up 1.0%. While hard […]
Traders Digest Big Tech Results
There has been a mixed response to last night’s earnings reports. Nvidia is up 1.1% in premarket trading after the flag bearer of the AI cycle beat the Street on sales ($68.1B vs Street $66.2B), earnings ($1.62 vs Street $1.54), and sales guidance ($78.0B vs Street $72.6B). Meanwhile, Salesforce is down 2.5% premarket after issuing […]