Market Rally Pauses As Investors Digest and Await Earnings Reports
Stocks have paused their advance overnight to consolidate yesterday’s big gains. US index futures are currently flat to up 0.2%, coming off a day of 1.8% to 2.5% gains. In Europe this morning, the major indices are flat to down 0.2% and Asia Pacific indices were flat to down 0.5%, the Hang Seng taking the […]
US Stocks Surge as Trading Resumes
US investors appear to be returning from the Memorial Day long weekend ready to celebrate the weekend news that President Trump has delayed the imposition of 50% tariffs on EU countries to July 9 from June 1 to allow time for more talks. On this news US index futures are up 1.2%-1.5%, erasing all of […]
Trump Tariff Tweets Sink Stocks
What was looking like a quiet Friday was turned on its head by President Trump this morning after he launched a new round of tariff threats. Specifically, Trump threatened a 25% tariff against Apple unless it brings iPhone production to the US and also a 50% potential tariff against the EU starting June 1st. This […]
US Political Woes Weigh on Wall Street
For much of this year, market movements have been driven by international political developments, particularly trade and tariff tensions between the US and other major economies. This week, however, the focus has shifted to domestic politics, as attention turns to the White House’s tax and spending bill currently moving through Congress. Concerns that the bill […]
Gold Rebounds as US Dollar Retreat Continues
Moody’s downgrade of its US credit rating last weekend continues to impact bond and currency trading. The USD remains in retreat today enabling Gold to rally 0.8% and regain $3,300/oz. Meanwhile, other major currencies, including the Loonie, Pound, Euro, Aussie and Yen, are up 0.2%-0.6% today. Commodities are also rallying with Copper up 1.2% and […]
Stocks Backslide Amid Mixed Earnings and Economic Numbers
Thursday morning finds stock markets around the world slipping as their recent rally fades. US index futures are down 0.4% to 0.7%, while in Europe, the DAX is down 0.1% and the FTSE is up 0.2%. Overnight, the Hang Seng lost 0.8% and the Nikkei fell 1.0%. The US 10-year Treasury yield is steady near […]
Stocks Soar as US-China Trade Tensions Ease
Much of the uncertainty which has been hanging over world markets in recent months eased significantly. The US and China announced yesterday that they have agreed to pause their recent tariffs for 90 days while they work on a bigger trade agreement. This news has ignited a rally in US index futures, which are up […]
Equity Rally Continues With Trade In Focus
Equity markets continue to climb heading toward the weekend. Adding to yesterday’s US index gains of 0.6% to 1.0%, US index futures are up 0.2% to 0.4% this morning. In Europe, the Dax is up 0.5% and the FTSE is up 0.4%. Overnight, China reported a stronger than expected trade surplus ($96.1B vs street $89.0) […]
Gold Rallies as Investors Turn Cautious
Amid continuing uncertainty about the health of the global economy and the state of the ongoing trade wars, investor sentiment has been turning defensive once again this week. Traditional havens for capital in turbulent times continue to attract capital this morning with Gold up 1.8%, Silver up 2.2% and the Japanese Yen up 0.6%. Meanwhile, […]
Mixed Reaction to Canadian Election Results
In another sign that President Trump’s tariff and trade war is unlikely to end soon, Canada’s Liberal Party won a fourth consecutive term in office and third consecutive minority government after essentially running on a stand up to Trump platform. The opposition Conservatives, who had been leading in the polls earlier this year, gained a […]