Remaining Bulls Congregate In Cryptocurrencies
Last Friday, the NASDAQ, along with a number of senior technology stocks, staged a significant bearish reversal, rallying to a new all-time high before selling off and finishing the day with a 1.2% loss. The Dow and S&P fell a more moderate 0.2% and 0.6% respectively. US index futures have been quietly drifting downward overnight […]
Positive Employment Reports Boost Stocks
US index futures are trading flat to up 0.3% this morning, consolidating yesterday’s US index gains, which included rallies of 1.5% for the NASDAQ and 1.0% for the S&P 500. European markets are mixed heading toward the weekend with the Dax flat and the FTSE down 0.4%. US Nonfarm Payrolls were mixed as headline jobs […]
Central Bank Speculation, Trade Numbers and Retailer Earnings Move Markets
Building on yesterday’s bounces of 0.2%-0.6% for US indices, US index futures are up another 0.2% to 0.6% this morning. The US 10-year treasury note yield has stabilized near 4.09% heading into Day Two of Fed Chair Powell’s testimony to Congress. Overseas market action has been more mixed. Asia Pacific trading saw the Nikkei lose […]
Central Bank Day Starts Off With Markets Bouncing Back
World markets have been on the rebound this morning, clawing back some of yesterday’s losses. US index futures are up 0.3% to 0.9% after falling 1.0%-1.6% yesterday. European markets are in the green as well, with the Dax up 0.1% and the FTSE up 0.3%. Eurozone retail sales did not fall as much as feared […]
Stocks Slide as Service PMI and China Forecasts Fail To Impress Investors
Adding to yesterday’s US index losses of 0.25%-0.40%, US index futures are down 0.2%-0.6% this morning with little in the way of news to keep the party going. In Europe today, markets are quiet, trading flat to down 0.1% after Service PMI reports came in better than expected but still below 50 slightly in contraction […]
Nikkei 40,000, Bitcoin 65,000, OPEC and Central Banks In the Spotlight
Equity markets continue to steamroll through big round numbers with the latest being the Nikkei reaching the 40,000 level overnight for the first time in decades. Positive momentum from Asia Pacific trading has slowed as Monday progresses. European markets are mixed with the Dax flat and the FTSE down 0.6%. US index futures are trading […]
Steady Markets Digest NASDAQ New High
In a strong finish to February, the NASDAQ closed above 16,000 and at its first new all-time high since November of 2021. US indices finished the month with gains of 6.1% for the NASDAQ, 5.2% for the S&P 500 and 2.2% for the Dow. The S&P/TSX Composite climbed 1.6% in February. US markets are off […]
Inflation, Bitcoin and Banks in the Leap Day Spotlight
As the last day of an extended February gets underway, US index futures have erased losses of around 0.3% from early morning trading in the last few minutes and are currently trading flat to up 0.25% following the release of US inflation data. Core PCE inflation, the Fed’s preferred measure declined slightly in line with […]
Stocks Start to Slide While Cryptocurrencies Soar
Equity market momentum continues to change. After finishing last week strong, US indices treaded water for the first two days of this week but now have started to backslide with US index futures falling 0.25% to 0.50% this morning. Overseas, the Dax is up 0.25% but the FTSE is down 0.7% and in Asia Pacific […]
Bank Credit Provisions and Durable Goods Orders Disappoint Investors
World markets are off to a choppy start to the week, US index futures are trading flat to up 0.2%, basically clawing back yesterday’s US index losses of 0.1%-0.4%. Over in Europe, the FTSE is down 0.1% while the Dax is up 0.4%. The US 10-year treasury note yield is steady just above 4.25%, while […]