Indexes Climb Despite Post-Earnings Selloffs
Building on yesterday’s all time high for the S&P 500 (by one measly point), US index futures are trading flat to up 0.5% this morning, with the NASDAQ leading gains. Investors appear to be focusing on the potential for more trade deals ahead of Friday’s US tariff deadline and looking ahead to tomorrow’s central bank […]
US-EU Trade Deal Kicks Off a Busy Week For Business News
Over the weekend the US and EU agreed to a new trade deal which includes a 15% tariff on EU goods entering the US. The EU also agreed to buy $750B of US energy and make investments of $600B in the US. This news arrives ahead of Thursday’s deadline to reach new trade deals with […]
Traders Look Ahead to a Big Week Next Week
US index futures are quiet this morning, but overseas markets have been under pressure overnight and into this morning with the DAX down 0.8%, the FTSE down 0.5%, the Nikkei down 0.9%, and the Hang Seng down 1.1%. Commodities are up today with Crude Oil and Copper rising 0.4% and 0.1% respectively. The US Dollar […]
Negative Reactions to Positive Earnings Continue
Earnings reports have continued to trigger selloffs in large cap stocks overnight and into this morning as investors focus more on future outlooks than past results. These moves provide more evidence to suggest that the big market rally of the last three months likely has already priced in high expectations. Chipotle Mexican Grill is down […]
Japan Trade Deal Sparks Equity Index Rally, But Earnings Knock Down Some Stocks
With the August 1st US tariff deadline approaching, the United States has entered into a new trade deal with Japan, under which Japan will invest $550 Billion in the US, open its market to US automobiles and agricultural goods, and a 15% tariff on Japanese goods, which, in fact, represents a tariff reduction for automobiles. The […]
US Stocks Pause as Traders Digest Earnings and Await Powell Speech
With a 0.14% gain yesterday, the S&P 500 managed to eke out another record high close Monday, but Tuesday finds US index futures hitting pause and trading flat to down 0.1%. Traders appear to be waiting to see if there will be any hints in Fed Chair Powell’s speech this morning as to whether the […]
TACO Trade Shifts to the US Dollar
Reports that President Trump has dialled down his threats related to firing Fed Chair Powell has sparked a rally in the US Dollar, suggesting that concerns about the independence of the Fed had been weighing in the currency. Gold is down 0.9%, the Aussie is down 1.0%, the Euro, Loonie and Yen are all down […]
Mixed Reaction to Day 2 of Earnings and Inflation Reports
Wednesday morning finds US index futures divided between a 0.2% gain for Dow Futures and a 0.2% loss for NASDAQ futures. In Europe today the DAX is up 0.5% and the FTSE is up 0.3%. Energy action is mixed with Crude Oil down 1.0% following a big build of 19.1 mmbbls in US API weekly […]
Markets Digest Earnings and Inflation Numbers
US markets are climbing this morning as earnings season gets underway led by a 0.6% gain for NASDAQ futures. Dow futures, European indices including the DAX, CAC, and FTSE, and commodities like Crude Oil and Copper are all quiet this morning. In currency action, Bitcoin is down 2.4%, while Gold is up 0.2%. Economic data […]
Tariff Rollout Continues; New High for Bitcoin; Earnings Season Starts
Adding to Friday’s losses, US index futures are down 0.3%-0.4% to start the week. Over the weekend, the EU and Mexico joined the Trump tariff parade as he announced 30% tariffs as set to start on August 1st. Tariffs helped the US to record a surprise budget surplus for June so there appears to be […]