Election Results Rock European Markets
Weekend European Parliamentary election results saw a significant shift in voter sentiment away from incumbent parties, which led to Belgium’s prime minister resigning, and French President Macron launching a snap parliamentary election campaign in France. With political uncertainty increasing on the continent, the Euro has dropped 0.4% against both the US Dollar and the British […]
Nonfarm Payrolls Spark a Selloff
US index futures have started to sell off hard following the release of North American employment and wage inflation numbers. Prior to the report, trading had been pretty quiet. Currently, US index futures are down 0.3%-0.4%. North American job growth was very strong last month, as US nonfarm payrolls (272K vs street 185K) and […]
Interest Rate Cuts and Payrolls In Focus
US index futures are in consolidation mode this morning digesting yesterday’s 1.25% gain for the S&P 500 that carried it to a new all-time high, and nearly 2.0% rally for the NASDAQ. Gains were led by large cap technology stocks and boosted by a positive surprise in US Service PMI. European markets are up across […]
ADP Payrolls Reaction and Bank of Canada Preview
It’s a big day for economic news. US ADP private sector payrolls came in below expectations (152K vs street 173K) but so far this has had little impact on US index futures which are up 0.2% to 0.5% this morning, building on yesterday’s US market gains. European markets have been strong today with London up […]
Commodities and Stocks Sell Off While Bonds Rally
The second trading day of June finds a significant shift in sentiment underway. Although US markets managed to finish Monday mixed with some help from a few large cap names, the underlying selloff continued overnight and into this morning. US index futures are down 0.3%, while in Europe, all of the major indices, including the […]
June Gets Off to a Positive Start
Building on Friday’s late day rebound, world markets have kicked off the new week and the month of June in the green. US index futures are trading flat to up 0.5% with the NASDAQ leading the rebound again, while in Europe, the Dax is up 0.7% and the FTSE is up 0.2%. Treasury yields are […]
Earnings Reports Spark Big Stock Swings
The Morning Minutes will not be issued on Friday May 31st, it will return on Monday June 3rd. Colin can be seen on BNN Bloomberg as Featured Guest on The Street between 8:00 and 9:00 am EDT tomorrow. As we approach the end of earnings season, a number of stocks have been particularly volatile around […]
Signs of Stagflation and Travel Industry Troubles Sink Stocks
The NASDAQ reached a new all-time high yesterday but the party didn’t last long as stocks around the world have been selling off overnight. Asia Pacific trading saw Hong Kong drop 1.8%, Seoul lose 1.6%, Tokyo tumble 0.8% and Sydney slide 1.3%. In Europe this morning, Paris is down 1.2%, Frankfurt has fallen 0.8% and […]
Canadian Inflation Surges and Bank Earnings Resume
Canadian industrial prices (1.5% vs street 0.6%) and raw material prices (5.5% vs street 3.2%) indicate inflation pressures on businesses are increasing once again. With the US long weekend over, its fully back to business across North America this morning. Canadian bank earnings season has resumed on a positive note with the Bank of Nova […]
Mixed Markets Stagger Toward the US Long Weekend
Yesterday’s US market selloff which came despite a post earnings rally in Nvidia* carried through world markets overnight and into this morning. Following on from yesterday’s drops of 0.4% to 1.6% for major US indices on Thursday, the Hang Seng fell 1.4%, the Nikkei fell 1.2%, the Dax dropped 0.5% while the FTSE has fallen […]