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% […]
Stocks Slip Ahead of Powell Testimony
Yesterday’s equity market rally which saw major US indices gain 0.4% to 1.0% appears to have run out of steam this morning. US index futures are currently giving back some of yesterday’s gains, falling 0.2%-0.4%, while in Europe, the Dax and FTSE are essentially flat. President Trump launching 25% tariffs on Steel and Aluminum may […]
Stocks Climb Despite Looming Tariffs
Bouncing back from Friday’s US index declines of 0.9% to 1.4%, US index futures are up 0.5% to 0.7% to start the new trading week. Overseas trading finds the Dax up 0.5%, the FTSE up 0.7% and the Hang Seng up 1.8%. Crude Oil is up 1.4%, Natural Gas is up 3.5% and Copper is […]
The Canary in the Coal Mine?
Since President Trump was elected in November the US Dollar has been steamrolling pretty much all other currencies except for precious metals and cryptos (and even those sometimes as well), supported by rising US treasury yields and fewer rate cuts from the Fed relative to other central banks. So far this earnings season, the higher […]
FTSE Rallies, Sterling Sinks on UK Rate Cut
The Bank of England cut its benchmark interest rate by 0.25% as had been widely expected. This has sparked significant moves in the UK market today with the FTSE gaining 1.6% and the Pound falling 1.1%. In comparison, the Euro, Aussie, Loonie and Gold are all down about 0.3% against the US Dollar. Equity market […]
Soft Tech Sales Send Stocks Slumping
NASDAQ futures are down 0.8% this morning, outpacing the 0.1% decline by Dow Futures to the downside. Sentiment appears to be getting impacted by disappointing news from the technology sector. Although Google parent Alphabet and chipmaker Advanced Micro Devices (AMD) both beat expectations, overall cloud revenues at Alphabet and data centre revenues at AMD were […]
Trade War Focus Turns To China
Stocks and currencies have stabilized overnight after President Trump postponed the implementation of tariffs against Canada and Mexico for one month after agreements were reached to improve border security. New 10% tariffs continue, however, and China has retaliated with new tariffs against some US goods and regulatory investigations against some US companies. This morning finds […]
Trade Turmoil Rocks World Markets
Tariffs throw sand into the gears of global commerce and markets have long hated them. They hated them in the Depression, they hated tariffs in 2002, and the hated them at other times over the decades. It should come as no surprise to anyone then that after markets ignored the looming threat of a trade […]
Traders Focus on Earnings While Tariff Threat Looms Larger
A week that started with a selloff appears set to finish with a rally into month-end. US index futures are up 0.2%-0.8% with NASDAQ futures leading the advance. Over in Europe, the Dax is up 0.2% and the FTSE is up 0.3%. Commodity action is mixed with Crude Oil up 0.2% and Copper down 0.4%. […]
Earnings In Focus as Mega Caps Report Results
Coming off a day of 0.3%-0.5% declines for US indices, US index futures are mixed with Dow futures down 0.2% and NASDAQ futures up 0.6%. European trading finds the Dax up 0.2% and the FTSE up 0.5%. We’re in the heart of earnings season now and a lot of big names have reported overnight and […]