Canadian Inflation Surges and Bank Earnings Resume
Canadian industrial prices (1.5% vs street 0.6%) and raw material prices (5.5% vs street 3.2%) indicate inflation pressures on businesses are increasing once again. With the US long weekend over, its fully back to business across North America this morning. Canadian bank earnings season has resumed on a positive note with the Bank of Nova […]
Overseas Markets Rally on US Holiday
The US being closed for the Memorial Day has not stopped traders overseas from getting the week off to a strong start. Asia Pacific markets rallied overnight including gains of 1.1% for the Hang Seng and 0.7% for the Nikkei. In Europe this morning, the Dax is up 0.1% and the FTSE is down 0.2%. […]
Mixed Markets Stagger Toward the US Long Weekend
Yesterday’s US market selloff which came despite a post earnings rally in Nvidia* carried through world markets overnight and into this morning. Following on from yesterday’s drops of 0.4% to 1.6% for major US indices on Thursday, the Hang Seng fell 1.4%, the Nikkei fell 1.2%, the Dax dropped 0.5% while the FTSE has fallen […]
Indices Rebound on Positive Technology and Bank Earnings
Shrugging off yesterday’s 0.2% to 0.5% correction for US indices, which was due to a combination of more weak housing data and Fed minutes being more neutral and less dovish than hoped, US index futures are bouncing back big time this morning with gains of 0.2%-1.0%. NASDAQ futures have been leading the charge today, in […]
Indices Consolidate Near All-Time Highs
In the last few days, the Dow Industrials, NASDAQ Composite and S&P 500 have all reached new all-time highs and cryptocurrencies have been on a tear as well. Today, markets are pulling back slightly with US index futures trading flat to down 0.2%are pretty much flat. Over in Europe, the Dax and FTSE are down […]
US Indices Pause Near All-Time Highs; Cryptocurrencies Rally
The morning after the NASDAQ rallied to a new all-time high and shortly after the Dow Industrials reached 40,000 for the first time, major US indices appear to have stopped for a rest, with US index futures trading flat this morning. Overseas markets had a tough night with the Hang Seng sliding 2.1%, the Dax […]
Copper Soars While Indices Digest Recent Rallies
Copper is soaring again, gaining 2.1% even as overnight data from China was mixed. Industrial production beat expectations (6.7% vs street 5.5%), but retail sales disappointed (2.3% vs street 3.8%), and house price declines worsened (-3.1% vs previous -2.2%). Crude oil is up 0.1%. With commodity inflation pressures still building, Gold and Silver are up […]
Dow 40,000 and Wal-Mart Earnings
US indexes rallied 0.8%-1.4% yesterday sending the S&P 500 to a new all-time high. This morning, US index futures are consolidating their gains and Dow futures have climbed above 40,000. European action is mixed with the Dax down 0.3% and the FTSE up 0.1%. Asia Pacific trading was positive with Tokyo, Sydney, and Hong Kong […]
Traders Focus On Inflation Improvement Instead of a Weakening Economy
US index futures initially jumped up 0.3%-0.6% from flat this morning but have seen that whittled back to 0.2%-0.4% in the wake of today’s US economic reports. The US 10-year treasury note yield has dropped from near 4.45% toward 4.35%. Traders have primarily focused on slightly improved US consumer price data hoping that could be […]
Meme Stocks Party Like Its 2021
It’s not uncommon following a big bull run in the markets that has fully valued or over valued stocks, for some traders to set their sights on plays at the margins of the market. This year, it seems like traders have turned their sights back to the same plays they went for in 2021. Earlier […]