Yesterday’s market action which saw gold and oil sell off and stock markets around the world stage a relief rally has turned out to be a dead cat bounce with previous cautious trends reasserting themselves amid a flurry of developments.
Building on yesterday’s rebound which saw a burst of short covering and bargain hunting after the big Fed decision unshackled investors, US index futures are all up about 0.6% this morning, adding to yesterday’s US index gains of 1-2%. Overseas
In the wake of yesterday’s failed rebound and with the potential for significant developments and hints on the future of US monetary policy, it comes as no surprise that US index futures are flat this morning with investors apparently content
World stock markets continue to respond favorably to yesterday’s boost of confidence from the Fed. The US central bank announced that it plans to start tapering asset purchases this month by $15B per month, suggesting eight months of tapering to
Today at 2:00 pm the Fed releases its latest monetary policy decision and statement. Investors are looking for some clarity on whether the US central bank is planning to start tapering back asset purchases this year (like central banks in
Building on overnight gains of 1.4% for Tokyo, 0.9% for Frankfurt and 0.6% for London, US index futures are on the rise this morning, with gains of 0.7% to 0.9%. It remains to be seen, however if US indices will
Although US indices were able to carry their rebound through the trading day to gains of 0.9% to 1.25% for US indices, on the back of a better-than-expected US ISM Services PMI report (61.9 vs street 60.0) that was as
Building on yesterday’s gains of 1.0% for the three main US indices, US index futures are all up about 0.6% as investors continue to respond favorably to yesterday’s news from the Fed. The US central bank delivered an upbeat assessment
Although yesterday’s morning rebound faded into a mixed close for US markets yesterday that saw the Dow lows 0.2% and the NASDAQ gain 0.2%, US index futures are trying to regain their footing again this morning with gains of 0.3%-0.5%.
While the Bank of Canada was quiet yesterday as had been widely expected, the European Central Bank announced this morning that it plans to start tapering back its emergency asset purchase program, sending a signal that the European economy is