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 […]
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 […]
Miners and Airlines in Focus Today
Investors have responded positively to the first notable earnings report of this quarter. Delta Air Lines is up 13.5% in premarket trading after beating street expectations for EPS ($2.10 vs street $2.06), and despite cutting its guidance for the year after management indicated that travel demand has stabilized. Earnings season officially gets underway next Tuesday […]
Growing Tariff Threats Rattle World Markets
World stock markets have stabilized from Friday’s declines as traders await the next developments in the ongoing tariff war between the US and everyone else. With the three-month moratorium ending on Wednesday, the White House has indicated that letters should start going out today to trade partners threatening to bring back the higher tariffs on […]
ADP Payrolls Add to a String of Disappointing Data
July is off to a choppy start so far for the stock markets. On Tuesday, US indices finished with a 0.8% loss for the NASDAQ and a 0.9% gain for the Dow. This morning finds US index futures trading between -0.2% and +0.1%, while in Europe the FTSE is down 0.1% and the DAX is […]
Fear Subsides on Reports of Iran Talks
Amid reports of potential talks between European leaders and Iran, and the White House suggesting that the US may take a couple of weeks to decide whether to launch an attack against Iran, investors appear to be dialling down their defensive postures. The price of Brent Crude Oil is down 3.2% this morning while Gold […]
Stocks Slide Amid Central Bank Decisions
US exchanges are closed for the Juneteenth holiday, but that has not stopped traders from reacting to political and monetary developments. Overseas markets are down in overnight trading with Hang Seng losing 2.0%, the Nikkei sliding 1.0%, the DAX dropping 0.6%, and the FTSE falling 0.4%. US index futures are down 0.4%-0.6% ahead of closing […]
Markets Stabilize as Focus Turns to Central Banks
There were no major new developments in the Middle East overnight, so investors’ focus has now turned to central banks with three interest rate decisions due over the next 24 hours. The Fed is expected to announce that it is holding the Fed Funds rate steady at 4.50% at 2:00 pm EDT, leaving investors to […]
War Concerns Weigh on Investor Sentiment
Fears that the war in the Middle East could escalate further appear to be weighing on world markets this morning after President Trump left the G7 summit early and issued an online warning telling people to get out of Tehran. This morning finds US index futures down about 0.4% while in Europe the Dax is […]