Oil Sells Off as Iran Tensions Ease
Iran risk trades have reversed this morning after President Trump suggested overnight that the killing of protesters has stopped. With fears of escalation fading for the moment, the price of Crude Oil has dropped 4.1% and is back under $60.00/bbl. The fear trade in precious metals is reversing more moderately this morning with Gold down […]
Supreme Court Tariff Decision Looms as Bank Earnings Continue
The US Supreme Court is expected to release decisions on a number of cases around 10:00 am EST today. One of these may address the legality of President Trump’s tariff programme. Whether the court rules yes or no, or does not issue a decision at all, could have a significant impact on trading today across […]
Oil Rallies and Earnings Season Starts
Earnings season in the US has kicked off this morning with a mixed reaction to decent results. JPMorgan Chase ($5.23 vs Street $5.00) is up slightly premarket as strong trading revenues helped it to beat street expectations. Bank of New York Mellon* ($2.02 vs Street $1.91) is down slightly premarket. Delta Air Lines ($1.55 vs […]
US Markets Slip as DOJ Investigation Raises Fed Independence Concerns
Over the weekend, the US Department of Justice launched a criminal investigation into Fed Chair Powell related to renovation expenses at the Fed’s headquarters. Investors appear to be interpreting this as a move by the White House that could reduce the independence of the US central bank, weighing on confidence in the country. President Trump […]
Stocks Soar on Soft Payrolls
A slightly weaker than expected US Nonfarm Payrolls report (50K vs street 60K) has ignited a rally in US index futures with investors apparently interpreting the news and supporting continued US interest rate cuts. US index futures are currently up 0.3% to 0.4%. Over in Europe, the Dax is up 0.7% and the FTSE is […]
Stocks Slide as New Year’s Rally Appears to Fade
Investor enthusiasm that opened the week appears to be fading quickly. Yesterday’s US pullback, which saw the Dow decline 1.0%, has extended overnight and into this morning. In Asia, the Nikkei fell 1.6% while the Hang Seng declined 1.2%. European markets are also under pressure this morning, with both the DAX and the FTSE down […]
SIA Wealth Morning Minutes: Natural Gas Rebounds; US Indices Approach Key Levels
World markets appear to be showing some mean reversion this morning following two days of strong moves, consistent with what appear to be typical trading corrections. After closing at record highs, with 50,000 and 7,000 in sight for the Dow and the S&P 500 respectively, US index futures are trading flat to down 0.2% so […]
NASDAQ Stocks and Energy Prices Rally as Holiday Trading Begins
This is the last scheduled edition of the Morning Minutes for 2025. It will return Monday, January 5th, 2026. We wish everyone a Happy Holiday Season. It looks like a Santa Claus Rally is underway. Building on Friday’s US index gains of 0.4%-1.3%, US index futures are up 0.1%-0.7% to kick off a holiday-shortened trading […]
Land of the Rising Stocks…and the Falling Yen
Overnight, the Bank of Japan raised its benchmark interest rate by 0.25% to 0.75%. Central bankers did not give any indication as to whether or when they may raise rates again, So the street appears to be taking this as a neutral or even dovish hike. The Yen has dropped 1.1% on a day when […]
Stocks Rebound on Positive Inflation and Earnings News
US markets are rebounding this morning after President Trump’s speech last night, which focused primarily on the economy, tax refunds, and a Christmas bonus for members of the military. Index futures are up between 0.1% and 0.8%, led by the NASDAQ. Technology stocks are bouncing back after Micron Technology beat expectations last night ($4.78 vs […]