Crude Oil Selloff Continues
The last trading day of the month and the quarter finds a number of markets which have staged strong performance lately backsliding a bit. US index futures are down 0.2%-0.3%, Gold is down 0.4% and Silver is down 1.4%. Some reports have suggested that this could be related to concerns over a potential US government […]
Oil Retreats on Increasing Supply
The price of Crude Oil is under pressure, falling 1.9% this morning. Over the weekend, exports from Iraq’s Kurdistan region resumed. In addition, traders have been speculating that OPEC+ may agree to an additional supply increase when it meets later this week. The new trading week is off to a positive start for stocks. US […]
Positive Economic Data Boosts the US Dollar
This morning, several key US economic indicators have come in significantly better than expected. The latest US Q2 GDP update (3.8% vs Street 3.3%), and durable goods orders (2.9% vs Street -0.5%) suggest a more robust economy than previously thought. Meanwhile, fewer than expected weekly initial jobless claims (218K vs previous 232K) suggest US labor […]
Stocks Consolidate This Week’s Gains
Coming off two days of big developments, including the first US interest rate cut of 2025 and Nvidia’s investment in Intel, stocks have paused for investors to digest the news. US and Chinese leaders are meeting today to finalize their deal on TikTok. US index futures are trading flat to up 0.2% coming off gains […]
Buckle Up, it’s Central Bank Decision and Forecast Day!
Steady markets are awaiting today’s monetary policy decisions from North America’s two main central banks. Both the Fed (2:00 pm EDT decision) and the Bank of Canada (9:45 am EDT) are expected to lower their benchmark interest rates by 0.25% to 4.25% and 2.50% respectively. With employment weakening on both sides of the border investors […]
Energy Markets Rally With Overseas Politics in Focus
After finishing flat to slightly lower on Friday, US markets are trading flat to slightly higher this morning, led by a 0.3% gain in NASDAQ futures. Investors continue to weigh the implications of last week’s disappointing U.S. employment numbers, balancing the potential for interest rate cuts against the risks a slowing economy poses to corporate […]
Commodities Retreat as Traders Digest Disappointing Job Data
US index futures have started to tumble in the wake of disappointing data out of the US but currently remain flat to slightly in the green, with NASDAQ futures up 0.2%. Overseas markets have been stronger with the DAX up 0.8%, the FTSE up 0.3%, and the Nikkei up 1.5%. China stocks struggled, however, with […]
New High for Gold, Oil Drops Back
Alphabet is up 5.8% premarket after learning that in an antitrust case, it will not be forced to divest either its Android operating system or its Google Chrome browser. Meanwhile, retailer Macy’s is up 12.4% premarket after crushing Street estimates on EPS ($0.41 vs Street $0.19). This news has helped NASDAQ futures to climb 0.7%, […]
Stocks Slide to Start September
September has historically been one of the weaker and more volatile months of the year for equity markets. This morning finds traders heading for the exits with NASDAQ futures down 1.2% and S&P futures down 0.9%. Over in Europe, the Dax is down 1.6% and the FTSE is down 0.6%. Late last week, a US […]
Stock Markets Continue to Climb
Yesterday was a banner day for US equity markets with the small cap Russell 2000 rallying 3.0% and the large cap indices gaining 1.1%-1.4%, sending the S&P 500 and the NASDAQ Composite to new all-time highs. This morning finds the three main index futures contracts up another 0.2%-0.3%. Positive momentum has continued overnight with the […]