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 […]
Markets Pause On a Quiet Day For Business News
Coming off a strong Thursday and mixed Friday for US indices, US index futures are trading flat to down slightly to start the new trading week. European action is similar with the Dax flat and the FTSE down 0.25%. Sentiment toward China has started to soften again with Shanghai falling 0.9% and Hong Kong sliding […]
Markets Pause as Investors Digest This Week’s Developments
On a quiet morning for business news, equity markets have paused this morning as investors reflect on this week’s market action. US index futures are essentially flat trading between -0.1% and +0.1% coming off yesterday’s big gains of 3.0% for the NASDAQ, 2.1% for the S&P and 1.2% for the Dow that took indices to […]
Flash PMI Surveys and Earnings Spark a Stock Rally
Investors have responded positively to Flash PMI numbers from Japan, Europe and the UK overnight and into this morning. The first peek at February economic conditions has been mixed as Service surveys came in better than expected, but Manufacturing surveys came in softer than expected. Markets are also digesting a positive response to Nvidia’s* earnings […]
Stocks Slide Between Earnings Reports
Although the main part of earnings season is over and there are only a few notable reports this week, results and guidance continue to reflect shifting investor sentiment. Despite handily beating street expectations on EPS ($1.46 vs street $1.30), and sales, cybersecurity company Palo Alto Networks plunged in aftermarket trading yesterday afternoon, and currently it […]
China Rate Cut and First Retailer Earnings
Investors looking for central banks to start cutting interest rates got their wish overnight as China cut its 5-year loan rate by 0.25% to 3.95%, and several banks stepped in to shore up currency trading. While this news helped Hong Kong and Shanghai to bounce 0.4%-0.6%, the broader impact has been decidedly bearish. It appears […]
Producer Prices, Options and Earnings Drive Pre-Holiday Trading
It’s options expiry day and the last trading day before a long weekend in North America. US index futures have come down in the last few minutes since US economic reports came out. Higher than expected US producer prices (0.9% vs street 0.6% and previous 1.0%) and lower than expected US housing starts (1.33M vs […]