Bitcoin Gets Hammered Again, Canada Jobs Disappoint
US markets return to trading today with index futures up 0.2% across the board. Stocks had been drifting downward but have rallied following a mixed US employment report. Headline job growth of 206K beat the street by 16K but traders have decided to ignore that the previous month was revised down 54K. Wage inflation, in […]
Bitcoin Breaks Down, Overseas Stocks Climb, Nonfarm Payrolls Preview
Ahead of today’s US holiday, the S&P 500 and NASDAQ rallied to new all-time highs in a shortened session Wednesday. Overnight and into this morning, that positive momentum has carried through overseas markets with Tokyo gaining 0.9%, Sydney rallying 1.2%, Frankfurt climbing 0.3% and Paris bouncing 0.8%. While equity investors enter the US holiday in […]
Tech Stocks Try To Bounce, Europe Remains Under Pressure
SIA Wealth Morning Minutes will not be issued for the rest of this week, it will return on Tuesday, July 2nd. NASDAQ futures are trying to bounce back this morning with a 0.4% gain clawing back some of yesterday’s 1.0% NASDAQ loss which was driven by a significant correction in several of the large-cap technology […]
Markets are Mixed as the Political Calendar Heats Up
The last trading week of June, the second quarter, and the first half of the year is off to a mixed start, indicating investor indecision on whether to continue the current bull market. US index futures are split between a 0.2% gain for Dow futures and a 0.2% loss for NASDAQ futures. Overseas, Asia Pacific […]
Mixed Survey and Retail Sales Data Drag on Markets
Flash manufacturing and service reports from around the world have been rolling out overnight. The general tone so far has been disappointing particularly in Australia where flash Manufacturing PMI remained under 50 in contraction territory (47.5 vs street 50.6). The main bright spot today has been the UK where retail sales (2.9% vs street 1.5%) […]
Central Bankers Remain Split on Interest Rate Cuts
US markets appear ready to pick up where they left off on Tuesday. Index futures are trading flat to up 0.5%, with NASDAQ futures leading the way higher, a sign that investors remain particularly focused on large cap Technology stocks. European markets are also climbing today with the FTSE up 0.3% and the Dax up […]
Indices Digest New Highs and Big Selloffs
US Index Futures are steady today trading between -0.2% and +0.2%. On Friday the NASDAQ closed at an all time high, but only gained 0.1% on the day while the S&P was flat and the Dow Industrials fell slightly. Worse, the small cap Russell 2000 dropped 1.6%, and the Dow Transports fell by 1.0%, raising […]
Gold Bounces Back as Stocks Slide
A rough week for European markets after last weekend’s European Parliament election results sparked a round of political turmoil continues this morning with Paris down 2.2%, Frankfurt down 1.1% and Milan down 2.5%. London is down a more moderate 0.2%. The US has been trying to defy gravity for the last two days but this […]
Focus Shifts Back to Sectors and Earnings Following the Fed
For a second day in a row, we are seeing a significant divergence in performance between the Dow and the NASDAQ. Yesterday, the NASDAQ rallied 1.5% while the Dow fell 0.1%, this morning, NASDAQ futures are up 0.7%, while Dow futures are down 0.2%. European markets are taking it more on the chin today amid […]
Soft Consumer Prices Send Stocks Soaring Ahead of Today’s Fed Decision
US index futures have spiked upward in the last few minutes going from flat to up 0.75%-1.0%. US consumer prices were slightly better than expected (3.3% vs street 3.4%) igniting speculation that the Fed could take a more dovish stance than previously thought. Treasury yields are also dropping with the US 10 year falling from […]