US Stocks and Dollar Soar on Trump Sweep
Most of the US election results are in and Donald Trump has won both the electoral vote and the popular vote. In addition, the Republicans have gained control of the Senate and are close to keeping control of the House, a clean sweep. US index futures are soaring on the news suggesting that investors see […]
Election Day in the USA
US voters head to the polls today in the long-awaited Presidential Election. Traders appear to be in a positive mood so far. US index futures are up 0.1%-0.3%, clawing back some of yesterday’s US index losses of 0.3%-0.6%. The US 10-year treasury note yield is holding steady near 4.30%. The US Dollar is giving back […]
Oil Rallies as a Big Week For Markets Begins
Over the weekend, OPEC+ announced that reductions to production cuts which had been planned for December (originally October) have been postponed again. This news, has ignited a 3.1% rally in the US Crude Oil price pushing it back up above $71.50/bbl and a 2.9% rally in the price of Brent Crude pushing it back up […]
Stocks and Oil Bounce Back Amid Mixed Earnings Reports
Coming off a disappointing end to October that saw the S&P 500 lose 1.8% and the NASDAQ drop 2.8%, stock markets are attempting to mount a comeback this morning. US index futures are up 0.3%-0.5%, while in Europe, the Dax is up 0.6% and the FTSE is up 0.9%. Capping off a big week for […]
A Chilly Start To Halloween Trading
It has been a spooky Halloween morning for equity investors so far. US index futures are down 0.5% to 0.7% with NASDAQ futures leading the way downward following a negative market reaction to technology sector earnings. European markets are also down across the board including declines of 0.5% for the Dax, 0.7% for the FTSE […]
Earnings Reports Spark Big Stock Moves; Europe Sells Off
Overnight earnings reports have been mixed. Alphabet’s big beat ($2.12 vs street $1.84, up 6.6% premarket) has helped to prop up the NASDAQ. Other companies that beat expectations include Visa ($2.71 vs street $2.58, up 2.4% premarket). Several companies had disappointing numbers including: Advanced Micro Devices (down 7.5% premarket) Eli Lilly ($1.18 vs street $1.45, […]
Crude Oil Rebounds; Earnings Season Resumes
US index futures are trading flat to down 0.3% this morning, essentially consolidating yesterday’s gains of 0.25% to 0.6%. In European action, London, Paris and Frankfurt are flat to up 0.2%. The US 10-year treasury note yield continues to creep upward, clearing 4.30%. The US Dollar is steady to up 0.25% against the other majors. […]
Oil Plunges as Political Risk Premium Evaporates
The new trading week has kicked off with a major selloff in the price of oil. Over the weekend, Israel elected not to hit Iranian energy production or distribution facilities in its latest military response and as such some of the political risk premium that had been built in has quickly been removed. Precious metals […]
Stocks Climb, Metals Retreat Into the Weekend
It has been a constructive morning so far for North American stocks. US index futures are up 0.2% to 0.4%, while TSX futures are up marginally. The US 10-year treasury note yield has stabilized near 4.20%. Trading is quiet in Europe this morning, the FTSE is flat while the Dax is up 0.1%. Nothing notable […]
Stocks Slide as Yields Rise; Bank of Canada Meets Today
We are getting mixed signals from the bond market today. The US 10-year treasury note yield continues to climb, and is approaching 4.25%, suggesting that traders are expecting a slower pace of interest rate cuts from the Fed than previously thought. Meanwhile, the Bank of Canada is expected to announce a 0.50% interest rate cut […]