Stock Selloff Continued Overseas Overnight
The last trading day of February finds stocks trying to stabilize following yesterday’s selloff that saw the Dow lose 0.4%, the S&P fall 1.6% and the NASDAQ drop 2.8%. Today finds NASDAQ futures flat and Dow futures up 0.4%. Chipmaker Nvidia which plunged 8.5% yesterday post-earnings remains under pressure, however, down another 1.8% premarket. Asia […]
Bank Earnings Start Strong; Cryptocurrencies Crumble
US index futures are trading flat to up 0.1% this morning as they try to regain their footing from recent losses, including declines of 0.5% for the S&P 500 and 1.2% for the NASDAQ yesterday. European markets are climbing this morning with the Dax up 0.25% and the FTSE up 0.5%. The biggest action this […]
Stocks Bounce Back as Canadian Bank Earnings Week Begins
It appears that Friday’s North American selloff was primarily related to options expiry as markets have been bouncing back this morning. US Index Futures are up 0.4% to 0.7%, with Dow Futures leading the rebound from Friday’s US index losses of 1.7% to 2.2%. In Europe today, the Dax is up 0.9% with investors celebrating […]
Stirred, Not Shaken
The last 24 hours have seen significant divergences in performance across world markets including overnight and into this morning. In the US, Dow futures are down 0.4%, adding to yesterday’s 1.0% Dow loss. NASDAQ futures are up 0.3%, clawing back most of yesterday’s 0.4% NASDAQ loss. Overseas, the Hang Seng soared to 4.0% to close […]
Walmart Earnings and Tariff Risk Weigh on US Markets
Walmart*, kicked off earnings season for US retailers with disappointing numbers, sending its shares down 4.6% in premarket action. The world’s biggest retailer beat the street by a penny on earnings, beat on sales ($180.5B vs street $180.1B), grew US same store sales over year by 4.6% and raised its dividend by 13%. That all […]
Backing and Filling
The morning after the S&P 500 reached a new all-time high finds US index futures trading flat to down 0.2% with Dow Futures leading the way back downward. This appears to be mainly due to common consolidation after a move, and a lack of new developments to push markets higher. The only notable economic report […]
Positive Start to a Shortened Trading Week
US traders have returned from the long weekend in a good mood. US index futures are up 0.2%-0.5%. Europe is now in the green with the Dax and FTSE both up about 0.2%. Asia Pacific trading saw the Hang Seng rally 1.6%. The US Dollar is dropping back a bit today. Gold is up 1.0%, […]
Stocks Pause Ahead of the Long Weekend
With a long weekend approaching in North America, traders appear inclined to take profits following yesterday’s rally. Soft US retail sales and mixed earnings don’t appear to be helping sentiment either. US headline retail sales (-0.9% vs street -0.1% and previous +0.7%), and retail sales ex autos (-0.4% vs street +0.3%) showed an abrupt and […]
Markets Digest Inflation and Earnings News
US Producer prices came in hotter than expected this morning (3.5% vs street 3.2% and previous 3.3%), confirming the increase in inflation seen in yesterday’s US consumer price report. Tomorrow brings US retail sales for this month. Unlike yesterday where stocks sold off on the prospects of rising inflation, traders appear to be taking today’s […]
US Dollar Rallies Amid Rising Inflation and Falling Stocks
US Consumer Prices (3.0% vs street 2.9%), and US Core CPI (3.3% vs street 3.1%) both came in higher than expected, suggesting that inflation may be bottoming out and starting to turn back upward. US index futures have plunged in the minutes following the release of these numbers. Currently US index futures are down 0.9%-1.0% […]