Big Earnings from Big Tech Boost Stocks
Peak week for US big cap earnings wraps up today on a positive note. Last night, Apple ($1.85 vs Street $1.78, up 2.2% premarket), Amazon.com ($1.95 vs Street $1.57, up 13.1% premarket) and MasterCard ($4.38 vs Street $4.32) all beat expectations, as have Exxon Mobil ($1.88 vs Street $1.82), Chevron ($1.85 vs Street $1.71) and […]
Trade Summit, Fed Decision and Earnings Move the Markets
There has been a decidedly mixed response from investors following yesterday’s Fed meeting. Although the US central bank announced a 0.25% interest rate cut as expected, and that it will end its Quantitative Tightening program on December 1st, remarks from Chair Powell that a rate cut in December is not a foregone conclusion sent stocks […]
Two Central Banks and a Bunch of Earnings
It’s central bank decision day in North America. At 9:45 am EDT, the Bank of Canada is expected to announce a 0.25% interest rate cut to 2.25%. At 2:00 pm today, the Federal Reserve Board is widely expected to announce a 0.25% interest rate cut to 4.00%. In addition to the interest rate news, investors […]
Stocks React to Earnings and Employment Reports; Metals Retreat Continues
Earnings season continues with big beats from Celestica* ($2.21 vs Street $2.08, up 10.4% premarket) and UPS ($1.74 vs Street $1.29, up 12.0% premarket). Other companies beating expectations include UnitedHealth (up 4.0% premarket), and PayPal (up 14.1% premarket). Visa and Booking Holdings report after the close today. Meanwhile, ADP has released a new look at […]
Stocks Rally and Gold Retreats as a Busy Week for Market News Kicks Off
The new trading week is off to a positive start so far, with equity bulls responding to reports over the weekend that the US and China have made progress in their trade talks, particularly around China’s exports of rare earths. Trade deals with other Asian countries have also been in the news around the ASEAN […]
Trade Developments and Earnings Drive Market Action Today
New and continuing developments related to tariffs, trade, and sanctions appear to be having a significant impact on the markets. With new sanctions against Russia and Russian energy companies taking hold, Crude Oil is up another 1.00% today, trading near $62.50/bbl. Last night, in response to an advertisement critical of tariffs, President Trump has stopped […]
Oil Surges as Russia Talks Stall
Crude Oil is rallying this morning, with a 5.1% gain pushing it back above $60.00/bbl and closer to $61.50. Energy markets are responding to the news that US President Trump has cancelled a planned meeting with Russian President Putin and launched new sanctions against Russian energy countries after the latest round of Ukraine talks stalled. […]
Mixed Response To Earnings Reports
Last night’s earnings reports were disappointing. Netflix* missed on earnings due to a one-time charge related to a tax dispute in Brazil and is now down 7.5% premarket. Texas Instruments missed by a penny and is also down 7.5% premarket as guidance disappointed. This morning’s results have been stronger than expected with GE Vernova (up […]
Precious Metals Retreat as Investor Focus Turns to Earnings
It’s a busy morning for earnings reports with better-than-expected results from Bank of America, GE Aerospace*, Coca-Cola, Lockheed Martin, 3M*, and General Motors. Results have been well received overall, with most these companies trading up 0.5%-3.0% premarket, and GM jumping 11.5% on positive guidance. Netflix* and Texas Instruments report after the close today. Equity market […]
Equities Rebound As Earnings Season Expands
Equity markets have resumed their upward march this morning to kick off the new trading week. The Hang Seng jumped 2.4% with Shanghai climbing 0.6% and Tokyo gaining 1.6%. In Europe today, the DAX is up 1.2% and the FTSE is up 0.4%. US index futures are up 0.2% to 0.4% building on Friday’s afternoon […]