Mixed Reaction to Day 2 of Earnings and Inflation Reports
Wednesday morning finds US index futures divided between a 0.2% gain for Dow Futures and a 0.2% loss for NASDAQ futures. In Europe today the DAX is up 0.5% and the FTSE is up 0.3%. Energy action is mixed with Crude Oil down 1.0% following a big build of 19.1 mmbbls in US API weekly […]
Markets Digest Earnings and Inflation Numbers
US markets are climbing this morning as earnings season gets underway led by a 0.6% gain for NASDAQ futures. Dow futures, European indices including the DAX, CAC, and FTSE, and commodities like Crude Oil and Copper are all quiet this morning. In currency action, Bitcoin is down 2.4%, while Gold is up 0.2%. Economic data […]
Tariff Rollout Continues; New High for Bitcoin; Earnings Season Starts
Adding to Friday’s losses, US index futures are down 0.3%-0.4% to start the week. Over the weekend, the EU and Mexico joined the Trump tariff parade as he announced 30% tariffs as set to start on August 1st. Tariffs helped the US to record a surprise budget surplus for June so there appears to be […]
Stocks Stumble as Trump Ramps Up Tariff Threats
Last night, President Trump announced plans to launch a 35% tariff against Canada starting August 1st, sending shockwaves through world markets. Trump has also been talking about a 50% tariff against Brazil bolstering recent threats against BRICS countries and their allies. With fears growing that the EU could potentially be next on his hit list, […]
Growing Tariff Threats Rattle World Markets
World stock markets have stabilized from Friday’s declines as traders await the next developments in the ongoing tariff war between the US and everyone else. With the three-month moratorium ending on Wednesday, the White House has indicated that letters should start going out today to trade partners threatening to bring back the higher tariffs on […]
Holiday Hangover as Focus Turns Back to Tariffs
Boosted by a strong US nonfarm payrolls report US equities surged into an early close heading into today’s Independence Day holiday, with major indices posting gains of 0.7% to 1.0%. After markets closed, President Trump’s ‘Big Bill’ passed Congress, and with US traders having left for the long weekend stocks appear to have paused for […]
Stocks Rally as Trade Talks Get Back on Track
The last day of the month and quarter finds US indices taking another run at all time highs, with US index futures up 0.5%-0.7%. News that Canada has dropped the digital services tax on US companies, which was supposed to kick in today, has been greeted warmly, as it enables trade talks to resume. Overseas […]
Earnings Beats and Trade Deal Progress Increase Confidence
Boosted by growing reports that the US and China may be close or have reached a deal on trade, stock markets around the world have continued to climb overnight and into this morning. Overseas, the Nikkei rallied 1.3% while the Dax is up 0.7% and the FTSE is up 0.6%. US index futures are up […]
Fear Subsides on Reports of Iran Talks
Amid reports of potential talks between European leaders and Iran, and the White House suggesting that the US may take a couple of weeks to decide whether to launch an attack against Iran, investors appear to be dialling down their defensive postures. The price of Brent Crude Oil is down 3.2% this morning while Gold […]
Markets Stabilize as Focus Turns to Central Banks
There were no major new developments in the Middle East overnight, so investors’ focus has now turned to central banks with three interest rate decisions due over the next 24 hours. The Fed is expected to announce that it is holding the Fed Funds rate steady at 4.50% at 2:00 pm EDT, leaving investors to […]