Global Market Retreat Resumes
Markets around the world have been sliding overnight. The main event has been a big selloff in cryptocurrencies where Bitcoin has broken down below $70,000 as both it and Ether have lost over 5.0% so far today. Precious metals are also under pressure with Gold down 2.0% and Silver down 10.0%. The Pound has also […]
Markets Digest Payrolls and Earnings
Overnight trading has been mixed, with a number of markets moving in opposite directions. The underlying theme appears to be capital continuing to rotate from more aggressive positions toward defensive stances. In US index futures trading, the growth-oriented NASDAQ is down 0.2%, while the value-oriented Dow is up 0.3%. In currency markets, cryptocurrencies remain under […]
Precious Metals Bounce Back
Precious metals have regained their footing today and have started to rebound from the weakness of the last few days. Gold is up 6.3%, Silver is up 13.5%, Platinum is up 6.8%. Commodities are also climbing again this morning with Copper up 4.7% and Crude Oil up 0.6%. The recent rebound in the US Dollar […]
Precious Metals Rebound as Focus Turns to Energy, Economics, and Earnings
February and Groundhog Day arrive with investors in a mixed mood. The US Dollar rally that unsettled markets on Friday appears to have paused, allowing Gold, up 1.5%, and Silver, up 5.1%, to claw back some of their recent losses. Copper continues to slide, down 1.9% today. The price of Oil is under pressure, down […]
US Dollar Steamrolls Everything as Next Fed Chair Announced
President Trump announced this morning that Kevin Warsh has been selected to replace Jerome Powell as Fed Chair after the current term ends in April. Professor Warsh currently teaches at Stanford and has previous experience at the Fed as a member of the Board of Governors from 2006-2011 through the Great Financial Crisis. Seen as […]
Commodities Soar While Equity Investors Assess Earnings Reports
Today marks the peak of earnings season, with four of the Magnificent 7 companies reporting results and issuing forecasts. Tesla* ($0.50 vs Street $0.45) and Meta Platforms ($8.88 vs Street $8.21) are up 1.9% and 8.9% premarket, with traders responding positively to the results. Microsoft, however, is down 6.9% amid signs that its cloud computing […]
Interest Rate Decisions and Big Tech Earnings Today
Markets are focused on a busy day ahead, with two central banks meeting in the middle of earnings season. It is shaping up to be a significant session for business news, with interest rate decisions due today from the Bank of Canada at 9:45 am EST and the Federal Reserve Board at 2:00 pm EST, […]
Markets Digest Mixed Earnings Reports and a Big Trade Deal
A big week for earnings has kicked off this morning with varying results. UnitedHealth is down 16.3% in premarket trading after the company forecast a sales decline for this year, potentially its first in decades. General Motors*, on the other hand, is up 4.3% premarket on the back of a positive earnings, guidance, and a […]
Defensive Sentiment Pushes Gold Through the $5,000 Barrier
Over the weekend, President Trump threatened Canada with a 100% tariff should it move ahead with a trade deal with China. While this has had no impact on the Loonie or equities as of yet, it has served as a reminder to investors that while the flashpoint of the day may change, underlying conflicts around […]
Gold $5,000 and Silver $100 in Sight
World markets and sectors have experienced their ups and downs over the past several months, but one theme has remained consistent. While the names dominating headlines shift from day to day, ongoing political tensions around the world continue to underpin a steady drive higher in precious metals, as capital appears to seek out traditional havens. […]