Markets Digest Soft US Job and Sales Numbers
It is catch-up day for US Nonfarm Payrolls. October payrolls fell by 105K jobs, while November payrolls rebounded modestly and exceeded expectations at 64K versus Street estimates of 50K. Overall, the reports appear soft. However, both releases were likely distorted by the US government shutdown, making it difficult to determine whether the weakness represents a […]
China Retreats, US Rebounds as a Big Week for Data Begins
The last full business week of the year is looking to be a busy one for business news. Asia Pacific markets sold off overnight with the Nikkei and the Hang Seng both falling 1.3%. China reported disappointing retail sales (1.3% vs Street 2.9%) and industrial production numbers (4.8% vs Street 5.0%), weighing on sentiment. Commodities […]
Traders Turn Cautious as Focus Turns to Tech Earnings
Please note: The Morning Minutes will not be issued tomorrow. They should return on Monday, December 15th. The Fed meeting has come and gone, leaving mixed signals. While the FOMC did cut rates by 0.25% as expected, there were two hawkish dissenters and one dovish dissenter. The dot plot forecast for 2026 suggested that the […]
Silver Soars Ahead of Today’s Interest Rate Decisions
The big day for North American central banks has arrived. At 9:45 am EST, the Bank of Canada is expected to maintain its benchmark interest rate at 2.25%. At 2:00 pm, the Fed is expected to cut the Fed Funds rate by 0.25% to 3.75%. At that time, FOMC member projections are released, including the […]
Steady Markets Await Wednesday Decisions
Coming off of a soft Monday that saw US indices slide 0.1%-0.4%, US index futures are flat this morning. Overnight trading was mixed with the Hang Seng falling 1.3%, the Nikkei gaining 0.1%, the Dax rising 0.2% and the FTSE flat. Currencies are quiet so far today. Precious metals are on the rise with Gold […]
Steady Markets Await Wednesday’s Interest Rate Decisions
Consolidating Friday’s gains, US index futures are trading flat to up 0.3% this morning. Overseas, the FTSE is steady, the Nikkei is up 0.2%, and the DAX is up 0.3%. China sensitive markets are struggling today. Overnight, China reported a larger than expected trade surplus ($111B vs Street $100B), boosted by higher exports. Import growth, […]
Canada Jobs Crush Expectations Again
It’s not often we see a major merger announced before the weekend, but here we go. Netflix has agreed to buy key assets from Warner Bros. Discovery for $72B, or $27.75 per share, split $23.25 in cash and $4.50 in NFLX shares. The planned spinoff of the Discovery Global TV empire will proceed, meaning Netflix […]
Strong Finish to Canadian Bank Earnings Week
Upward momentum continued overseas but has slowed in North America this morning. US index futures are all pretty much flat. In Europe today, the DAX is up 1.0% and the FTSE is up 0.2%. The US Dollar is rebounding a bit today, sending Gold down 0.2%, Silver down 1.3%, and Bitcoin down 0.4%. The Euro […]
Stocks Climb on Strong Bank Earnings, Surprise ADP Payrolls Drop
Building on yesterday’s US index gains of 0.2%-0.4%, US index futures are up 0.2%-0.3% this morning. European trading is quiet with the DAX up 0.1% and the FTSE down 0.1%. US ADP payrolls declined and disappointed (-32K vs Street 5K and previous 47K) as small businesses cut jobs last month. Investors appear to be taking this […]
Stocks Slide to Start December
Investors return from the US holiday weekend and enter December in a cautious mood. Bitcoin, a proxy for risk appetite is down 6.0% this morning. Technology stocks are leading the way lower in morning US trading where NASDAQ futures are down 0.8%, while Dow futures are down 0.4%. Speculation on whether the Fed is going […]