US Dollar Retreats on Getaway Day
It’s the morning before US Thanksgiving which usually means the heavy hitters are likely getting ready to head home for the holidays around midday and not return until Monday once they are done with turkey, football and shopping. Ahead of the US holiday, there are a number of economic reports out this morning. Durable goods […]
Canada and Cryptos Get Crushed in Trump Tariff Trading
One of the biggest lessons I have learned in my decades as a market analyst and my studies of market and economic history is that markets hate tariffs, markets despise tariffs. Tarriffs dump sand in the gears of the global economy and markets hate them. Hopes that Treasury Secretary nominee Bessent could potentially soften rhetoric […]
Strong Start to a Short Week
Equity markets are off to a positive start this week with US index futures up 0.5%-0.7%, building on overseas gains of 0.4% for both the FTSE and Dax and 1.3% for the Nikkei. The Ukraine conflict didn’t worsen over the weekend and investors appear to be pleased with incoming President Trump’s pick for Treasury Secretary. […]
Mind The Gap as Retailing Moves Into the Spotlight
Retailer Gap looks to be heading for a big day with a gain of 19.4% premarket adding to yesterday’s 6.9% advance. Earnings per share crushed expectations ($0.72 vs street $0.58). Management indicated the holiday quarter is off to a strong start and raised guidance. On the other hand, Intuit is down 2.8% premarket despite an […]
Nvidia Rebounds Post-Earnings, Bitcoin Rally Continues
After the close last night, Nvidia earnings beat expectations ($0.81 vs street $0.75). Sales and guidance also beat the street. The shares traded 1-3% underwater through aftermarket and early premarket trading but in the last hour or so, they have started to climb and are currently up nearly 2.0% premarket. Boosted by Nvidia’s rebound, US […]
Target Misses, Investors Await Afternoon Nvidia Earnings
US index futures are up moderately this morning with gains of 0.2%-0.4% so far. Hong Kong and continental European markets are up about the same while the FTSE is up 0.2%. UK trading appears to be lagging after the country’s latest consumer price index report (2.3% vs street 2.2% and previous 1.7%) suggested that inflation […]
Stocks Rebound To Start the Trading Week
Stocks in North America and Europe are trying to mount a rebound from Friday’s big selloff that saw US indices fall between 1.0% and 2.5% with the NASDAQ leading the way downward. This morning, bargain hunters and people who may have sold or held off ahead of the weekend appear to be stepping back in […]