Stocks Pause Ahead of the Long Weekend

With a long weekend approaching in North America, traders appear inclined to take profits following yesterday’s rally. Soft US retail sales and mixed earnings don’t appear to be helping sentiment either. US headline retail sales (-0.9% vs street -0.1% and previous +0.7%), and retail sales ex autos (-0.4% vs street +0.3%) showed an abrupt and […]
Markets Digest Inflation and Earnings News

US Producer prices came in hotter than expected this morning (3.5% vs street 3.2% and previous 3.3%), confirming the increase in inflation seen in yesterday’s US consumer price report. Tomorrow brings US retail sales for this month. Unlike yesterday where stocks sold off on the prospects of rising inflation, traders appear to be taking today’s […]
Stocks Pause, Bitcoin Retreats as Treasury Yields Climb

US index futures are mixed this morning with NASDAQ futures down 0.5% and Dow Futures up 0.1%. This sluggishness following two days of strong gains for US markets following the Inauguration so far appears to be normal profit-taking. European markets are climbing this morning, with the Dax up 0.3% and the FTSE up 0.2%. The […]
Stock Selloff and Energy Rally Continue

Equity investors and cryptocurrency traders continue to react negatively to last week’s stronger than expected US Nonfarm Payrolls report. Signs of strength in the US economy have added to speculation that there could be significantly fewer interest rate cuts in the US this year dampening the easy money speculation that had underpinned 2024 gains in […]
Stocks Backtrack Despite Strong Retail Sales

US trading is subdued this morning with index futures trading down 0.3%-0.5%. Even red-hot Broadcom, which soared another 11% yesterday, appears to be slowing down, dipping 0.5% in premarket trading. Over in Europe, the Dax is down 0.2%. The FTSE is down 0.8% on signs of stagflation as employment growth slowed and wage inflation accelerated. […]
Bitcoin Hits a New High as Traders Digest Economic News

Bitcoin spiked up to a new all-time high overnight above $106,000 on the news that Bitcoin holder MicroStrategy is going to be added to the NASDAQ 100 Index. This means that equity capital flowing into NASDAQ-tracking funds may now circle into Bitcoin as well, potentially accelerating mainstream adoption. NASDAQ futures are up 0.5% on this […]
Earnings Beats Boost US Stocks

Bouncing back from US index declines of 0.5% to 0.7% yesterday, US index futures are up 0.1% to 0.9% this morning. European markets are quiet with the Dax, CAC and FTSE all holding steady. Asia Pacific markets fell to end the week with the Hang Seng dropping 2.1% and the Nikkei sliding 1.0%. The US […]
Bitcoin Breaches $100,000

Markets, being dominated by humans can get drawn psychologically to large numbers. This year we have seen the S&P 500 blast through 5,000 and 6,000, the Dow Industrials rally through 40,000 and 45,000, the Nasdaq clear 20,000 and keep on going and Gold use $2,500 as a launch pad. Today the focus is on cryptocurrencies […]
December Starts with the US Dollar in Rally Mode

Last week’s positive finish for US markets has carried through the weekend. Asia Pacific markets posted gains of 0.6% to 1.2% with Shanghai leading the way. In Europe this morning the Dax is up 1.1% while the FTSE is up 0.3%. US index futures are flat. The US Dollar is strong to start the week […]
Mind The Gap as Retailing Moves Into the Spotlight

Retailer Gap looks to be heading for a big day with a gain of 19.4% premarket adding to yesterday’s 6.9% advance. Earnings per share crushed expectations ($0.72 vs street $0.58). Management indicated the holiday quarter is off to a strong start and raised guidance. On the other hand, Intuit is down 2.8% premarket despite an […]