Stocks Slide and Yields Rise To Start the Week
When looking at how equity markets respond to news we usually consider what does the news mean for liquidity (stocks like falling interest rates) and the economy (stocks like a positive environment for corporate earnings). Coming out of Friday’s very strong US Nonfarm Payrolls report, traders focus was that it was good for the economy […]
Nonfarm Payrolls Big Beat Sends Stocks Soaring
US nonfarm payrolls came in well above expectations (254K vs street 140K) sparking a surge in US index futures trading. The three main contracts are now up 0.3% to 0.8% with Nasdaq futures leading the way higher. Index futures had already been trending upward overnight on the news that US port workers agreed to call […]
Oil Rallies on Growing Mideast Conflict
Iran’s missile attack against Israel sparked a rally in oil prices which has continued into today on fears that hostilities in the region could potentially escalate further. This morning US Crude Oil is up 3.0%, while Brent Crude is up 2.7%. Gold through this has been digesting previous gains, trading down 0.6% this morning near […]
US Dollar and Gold Rally Around Powell, Ports and PMIs
October is off to a quiet start for US equities with US index futures trading flat to down 0.25%. European bourses, meanwhile are climbing today with the Dax up 0.5% and the FTSE up 0.6%. Europe’s market party appears to be in response to Manufacturing PMI reports which came in even with or better than […]
Stocks and Commodities Sink as Focus Turns to Economic Troubles
The last day of the month and the quarter saw China finish strong with gains of 8.1% (no that is not a typo) for Shanghai, and 2.4% for Hong Kong. Unlike last week, however, this momentum has not carried into other world stock markets or commodities as focus has turned to mounting economic problems. In […]
China Stimulus, Micron Earnings and Saudi Oil Production In Focus Today
Stock markets around the world have been rallying overnight and into this morning after Chinese President Xi and the country’s Politburo indicated that not only do they support the PBOC’s recent monetary stimulus moves, they also support using fiscal stimulus to support China’s economy and real estate market. On this news, Hong Kong rallied 4.2% […]
China Rally Fades as News Flow Slows For a Day
Yesterday’s China stimulus rally continued though Asia Pacific markets overnight where Shanghai gained 1.1% and Hong Kong climbed 0.7%. The rally has faded this morning, however, particularly in commodities, where US Crude Oil is down 1.9% and Copper is down 0.01% amid questions over how much stimulus may be needed to get China’s economy going […]
China Stimulus Sparks Commodity Rally
Overnight, Governor Pan of the People’s Bank of China announced in a speech that China’s central bank plans to introduce a number of stimulus measures designed to help boost China’s economy and real estate sector including cuts to interest rates and a 0.50% reduction in the reserve requirement ratio for banks. Signs that the global […]
SIA Wealth Morning Minutes:Flash PMI Reports Signal a Slowing Global Economy
Flash PMI reports, the first quick peek at September economic conditions, have been disappointing. Both Flash Manufacturing and Flash Service numbers for Australia, Germany, France and the UK have declined from August, and the European numbers all came in below expectations. This could be seen as a sign of a broad slowdown in the global […]
Indices Pause To Digest Recent Gains, New High For Gold
Yesterday’s rally, which saw US indices gain 1.25% to 2.50%, continued through Asia Pacific trading overnight but has stalled this morning. In Europe, the Dax, FTSE and CAC are down 0.6%-0.8%, while US index futures are mixed between flat for Dow futures and a 0.2% dip for NASDAQ futures. Overall, it appears that some equity […]