US Attempts a New Year’s Rally
North American traders appear to have returned from the New Year’s holiday in an optimistic mood. US index futures are up 0.7% to 1.0%, quickly erasing Tuesday’s US index losses of 0.1% to 0.9%. Cryptocurrencies are also rallying with Bitcoin up 2.3% and Ether up 3.4%. Commodities are also climbing so far with Crude Oil […]
Stocks Stabilize on the Last Trading Day of 2024
US stocks are stabilizing this morning with index futures up 0.1%-0.3% as they try to claw back some of yesterday’s US index losses of 1.0%-1.2%. Over in Europe, trading is mixed with the Dax down 0.4% and the FTSE up 0.6%. The weakness of the last few days appears to be related to a combination […]
Stocks Slump as Year-End Approaches
Adding to Friday’s US index losses of 0.75%-1.50%, US index futures have been losing more ground through the morning. Currently Dow futures are down 0.8% and NASDAQ futures are down 1.0%. Over in Europe, the FTSE is down 0.2% and the Dax is down 0.4%. The US Dollar is up 0.1%-0.3% against Gold, Silver, Bitcoin, […]
Stocks Slip as Treasury Yields Climb
Equity markets in the US were unable to build on Tuesday’s positive momentum, but major indices were able to shrug off early losses to finish the day essentially flat. Today US index futures are down 0.3%-0.4% as investors continue to grapple with the headwind of rising Treasury yields. In Europe today, the FTSE is flat […]
Short Squeeze Subsides as Holiday Trading Begins
Friday’s Triple Witching Day, which had started with a premarket slump, turned into a big rally and short squeeze with major US indices gaining 1.0%-1.2%. Starting today, with many market participants away on holidays or in and out of the office for the next two weeks, trading has quietened down. US index futures are mixed […]
Post-Fed Selloffs Resume
Yesterday’s market bounce appears to have been short-lived with stock markets around the world and cryptocurrencies resuming their retreat. US treasury yields are steady today and the US Dollar is down 0.1%-0.4% against the Loonie, Euro, and Gold, suggesting that today’s downturn may also partly be investors taking some money off the table ahead of […]
Big Swings From Fed’s “Hawkish Cut” Continue
Yesterday afternoon we saw the worst reaction to a December Fed decision since 2018. The Fed announced a “hawkish cut”, where they cut the Fed funds rate by 0.25% as expected, but signaled in the dot plot of FOMC member forecasts that they are only expecting 2 quarter point rate cuts next year instead of […]
Global Markets Rebound as FOMC Decision Looms
Shrugging off yesterday’s US index losses of 0.3%-0.6%, US index futures are up 0.2%-0.4% this morning. Over in Europe, the FTSE is up 0.1% and the Dax is up 0.2%. Chinese markets are also bouncing back with Hong Kong rising 0.8% and Shanghai gaining 0.6%. Commodities are also picking up today with US Crude Oil […]
Stocks Backtrack Despite Strong Retail Sales
US trading is subdued this morning with index futures trading down 0.3%-0.5%. Even red-hot Broadcom, which soared another 11% yesterday, appears to be slowing down, dipping 0.5% in premarket trading. Over in Europe, the Dax is down 0.2%. The FTSE is down 0.8% on signs of stagflation as employment growth slowed and wage inflation accelerated. […]
Bitcoin Hits a New High as Traders Digest Economic News
Bitcoin spiked up to a new all-time high overnight above $106,000 on the news that Bitcoin holder MicroStrategy is going to be added to the NASDAQ 100 Index. This means that equity capital flowing into NASDAQ-tracking funds may now circle into Bitcoin as well, potentially accelerating mainstream adoption. NASDAQ futures are up 0.5% on this […]