Pre-Holiday Data Drop
Equities have continued to climb overnight with the rally broadening. In yesterday’s US trading, the Russell 2000, with a 2.1% gain, and the Dow Industrials, with a 1.4% gain, led the market higher. This morning’s pre-holiday trading finds Dow futures steady and NASDAQ futures up 0.4%. Overseas, the DAX climbed 0.4%, the FTSE rose 0.2% […]
Technology Rally Slows as US Holidays Approach
Coming off a spectacular surge for US tech stocks, that saw the NASDAQ pop 2.7% as the AI trade roared back to life, overseas markets have been posting more moderate gains. The Hang Seng rose 0.7%, the Nikkei was flat, the DAX is up 0.6% and the FTSE is up 0.4%. US index futures are […]
Mixed Pre-Thanksgiving Trading
The US holiday-shortened final week of November is off to a mixed start with traders continuing to digest the recent correction in AI-related stocks and continuing to speculate on whether the Fed will continue cutting interest rates or not next month. Building on Friday’s rebound that saw US indices gain 0.9%-1.0%, US index futures are […]
Stocks Keep Sliding as Home Depot Disappoints
Yesterday’s retreat in US markets, which saw major indices fall 0.8% to 1.2%, has continued overnight and into this morning. US index futures are down another 0.6%-0.7%, while overseas, the Nikkei plunged 3.2%, the Hang Seng fell 1.7%, the DAX has dropped 1.5%, and the FTSE has fallen 1.4%. Crude Oil is flat in commodity […]
Technology-Led Selloff Continues
Yesterday’s US retreat, which was led by technology and small cap stocks, primarily related to the Artificial Intelligence trade, has continued overnight and into this morning. In Asia Pacific trading, the Hang Seng and the Nikkei both fell about 1.8%. Today’s trading in Europe finds the DAX, FTSE, and CAC down 0.6%-1.8%. US index futures […]
Corporate Earnings and Deals Attract Attention
Earnings season has kicked off this morning on a positive note. Delta Air Lines ($1.71 vs Street $1.53, up 7.3% premarket) and Pepsico ($2.29 vs Street $2.26) both beat expectations. Clothier, Levi Strauss, reports after the close today. Big deals in the Technology sector also continue to attract attention. Softbank* gained over 11% in Japanese […]
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 […]
US Dollar Slides as Traders Await Tomorrow’s Interest Rate Decisions
The US Dollar continues to retreat this morning with the Fed expected to cut its Fed Funds interest rate when its meeting concludes tomorrow afternoon. The Euro, Yen, Pound, and Gold are all up 0.2% to 0.3%, with the yellow metal reaching another new all-time high. The US 10-year treasury note yield is steady just […]
Steady Markets Await This Week’s Central Bank Meetings
Equities, bonds and commodities are all relatively quiet to start the week. US index futures are up 0.1%-0.3%. In Europe, the FTSE is flat, and the DAX is up 0.5%. Crude Oil and Copper are both up 0.3%. Gold is down 0.2%. The Loonie is up 0.1%, the Euro is up 0.2%. Signs of slowing […]
Rising Inflation Sinks Stocks, Sparks US Dollar Rally
US index futures have turned sharply downward after US producer prices jumped in July (3.3% vs Street 2.5% and previous 2.3%), contradicting Tuesday’s consumer price report and suggesting that tariffs may be starting to drive up inflation. US core PPI (excluding food and energy) was even worse (3.7% vs Street 2.9 and previous 2.6%). US […]