Growing Russia Tensions Boost Gold, Sink Stocks
With the Ukraine-Russia conflict intensifying again, investors have shifted to a more defensive stance, extending yesterday’s rally in precious metals. Gold is up 1.0% while Silver is up 0.9%. Commodities are struggling today with US Crude Oil down 0.6% and Copper down 0.3%. Interestingly, Bitcoin, usually seen as an indicator of risk appetite, is up […]
Potential For War Escalation Sparks Rebounds in Oil and Gold
Over the weekend, hostilities in the Ukraine War ramped up and President Biden announced he has authorized the use of US long range missiles to strike targets inside Russia. On this news, precious metals and energy, which had previously retreated in part to the potential for peace following the US election earlier this month, have […]
Stock Rally Slows; Retail Sales Exceed Expectations
The post-election honeymoon for stocks appears to be winding down with traders taking profits ahead of the weekend. US index futures are down 0.4% to 0.8% this morning adding to yesterday’s US index losses of 0.4%-0.7%. European markets are split with the Dax down 0.2% and the FTSE up marginally. The US 10-year treasury note […]
Disney Rally Drives Dow Gains
Walt Disney shares are soaring this morning with an 8.6% premarket gain so far. The entertainment giant beat Wall Street expectations with its latest earnings report ($1.14 vs street $1.11) boosted by a strong summer at the box office and improved streaming results. Cisco Systems is quiet this morning after beating the street ($0.91 vs […]
A Bit of Everything Today
US index futures had a soft morning until inflation data came out and since then, stocks have been climbing and treasury yields have been falling. US consumer prices (2.6% in line vs previous 2.4%), rose slightly this month as expected. Currently US index futures are trading flat to up 0.2% having previously been flat to […]
Earnings Season Resumes With Big Beats
Bitcoin has paused just short of $90,000 this morning to consolidate yesterday’s big gain. Gold, which had sold off as Bitcoin sucked up all the oxygen in the alternative currency market, has stabilized just above $2,600/oz. The advance in US indices also appears to be taking a break with US index futures trading down 0.1%-0.2%. […]
Europe and Bitcoin Rally To Start the Week
European markets have kicked off the new trading week in rally mode with the Dax up 1.4%, the CAC up 1.2% and the FTSE up 0.7%. Positive momentum has continued into early North American trading where US index futures are up 0.4%-0.5%. Bond markets are closed for Remembrance Day / Veterans Day and there are […]
Exhausted Stocks Pause to Digest News
Between the US election, central bank decisions and earnings season, it has been a busy week for world markets. US stocks and the US Dollar have been charging particularly hard. It is not a huge surprise then, that Friday finds traders starting to take profits ahead of the weekend, especially since banks and government offices […]
Stocks Consolidate as Focus Turns to Central Banks
US equities are consolidating yesterday’s big post-election rally which saw the big cap S&P 500 gain 2.5% and the small cap Russell 2000 soar 5.8%, with index futures up 0.2% to 0.5% this morning. Over in Europe, the Dax is up 1.4% on indications the country’s leading political coalition is fracturing and an election may […]
US Stocks and Dollar Soar on Trump Sweep
Most of the US election results are in and Donald Trump has won both the electoral vote and the popular vote. In addition, the Republicans have gained control of the Senate and are close to keeping control of the House, a clean sweep. US index futures are soaring on the news suggesting that investors see […]