Markets Remain Mixed as Traders Digest Earnings
World markets remain in a holding pattern ahead of tomorrow’s FOMC US interest rate decision. Extending Monday’s general flatness, US index futures are trading flat to up 0.3% with NASDAQ futures the strongest. In Europe today, the Dax is up 0.4% while the FTSE is down 0.2%. Asia Pacific trading saw the Nikkei gain 0.2% […]
Stocks Climb Despite McDonalds Miss
The trading week is off to a positive start for equities. US index futures are up 0.3%-0.6%, In Europe today, the Dax is up 0.2%, the FTSE is up 0.6%, but the CAC is down 0.5% with the Olympics underway in Paris. Asia Pacific trading saw gains across the board led by the Nikkei up […]
Markets Try To Rebound Ahead of the Weekend
NASDAQ futures are trying to shrug off two days of heavy selling and finish the week on an uptick with a morning gain of 1.1% which would claw back all of yesterday’s 0.9% index loss. Dow futures are up 0.6% and S&P futures are up 0.8%. European markets have also been bouncing back ahead of […]
Stock Selloff Continues Overseas Amid Mixed GDP and Earnings News
Yesterday’s stock market selloff felt like a roller coaster, starting slowly than accelerating through the day. A drop that started in large cap and technology stocks broadened out, particularly in the last two hours of trading where even a lot of stocks that had been up early in the day found themselves down by the […]
Earnings Driven Selloff and Bank of Canada Preview
Stock markets around the world have turned decisively downward overnight and into the morning. Overseas, The Hang Seng lost 0.9%, the Nikkei fell 1.1%, the CAC is down 1.0%, the Dax is down 0.7% and the FTSE is down slightly. Yesterday’s small losses for US indices have accelerated with NASDAQ futures down 1.3%, S&P futures […]
Ether ETF Launch and Earnings News In Focus
Earnings season resumes today with mixed results United Parcel Service is down 7.8% in premarket trading after disappointing on earnings ($1.79 vs street $1.99), while General Motors* is up 4.9% premarket after beating the street ($3.06 vs street $2.71), GE Aerospace* is up 3.2% premarket on a positive earnings report ($1.20 vs street $0.99), and […]
A Busy Week Starts With a Chinese Interest Rate Cut
Overnight, the People’s Bank of China capped off another weekend of summer surprises with a surprise 0.1% interest rate cut to 3.35%. In response to the news Hong Kong rallied 1.25%, while Shanghai fell by 0.6%. The reaction from other major Asia Pacific markets and commodities was bearish, however, indicating that investors view interest rate […]
Retail Sales Declines Spark Selloffs Amid a Major Technology Outage
Overseas markets have been in full retreat overnight and into this morning with the Hang Seng dropping 2.0%, the Dax down 0.7% and the FTSE falling 0.5%. US index futures are mixed with NASDAQ futures up 0.15% and Dow futures down 0.25%. Retail sales from the UK (-0.2% vs street +0.2% and previous 1.7%) and […]
ECB Goes One and Done as NASDAQ Tries to Pick Up The Pieces
The European Central Bank held its benchmark interest rate steady this morning, pausing its monetary easing program after one rate cut. President Lagarde indicated that inflation remains elevated and because of this it is now waiting on more data before deciding on what to do next. With the Bank of Canada and the Fed Open […]
NASDAQ Futures Come Under Pressure
Followers of the Morning Minutes may recall that one of the big themes of trading in the spring was market gains becoming concentrated in a small number of (mainly technology) stocks at the expense of other sectors. As we move further into July, the pendulum appears to be swinging back the other way. Yesterday, for […]