Overseas Markets Rally on US Holiday
The US being closed for the Memorial Day has not stopped traders overseas from getting the week off to a strong start. Asia Pacific markets rallied overnight including gains of 1.1% for the Hang Seng and 0.7% for the Nikkei. In Europe this morning, the Dax is up 0.1% and the FTSE is down 0.2%. […]
Dow 40,000 and Wal-Mart Earnings
US indexes rallied 0.8%-1.4% yesterday sending the S&P 500 to a new all-time high. This morning, US index futures are consolidating their gains and Dow futures have climbed above 40,000. European action is mixed with the Dax down 0.3% and the FTSE up 0.1%. Asia Pacific trading was positive with Tokyo, Sydney, and Hong Kong […]
Stocks Attempt To Rebound From a Stagflation Selloff
This week’s worse than expected US inflation data and retail sales report, which suggested an emerging period of stagflation (high inflation and low economic growth) appears to have rattled momentum investors and dampened risk appetite. While headline US indices fell about 0.3% yesterday, some the highest-flying sectors year to date like Semiconductors and Homebuilders were […]