Big Earnings from Big Tech Boost Stocks
Peak week for US big cap earnings wraps up today on a positive note. Last night, Apple ($1.85 vs Street $1.78, up 2.2% premarket), Amazon.com ($1.95 vs Street $1.57, up 13.1% premarket) and MasterCard ($4.38 vs Street $4.32) all beat expectations, as have Exxon Mobil ($1.88 vs Street $1.82), Chevron ($1.85 vs Street $1.71) and […]
Mixed Response To Earnings Reports
Last night’s earnings reports were disappointing. Netflix* missed on earnings due to a one-time charge related to a tax dispute in Brazil and is now down 7.5% premarket. Texas Instruments missed by a penny and is also down 7.5% premarket as guidance disappointed. This morning’s results have been stronger than expected with GE Vernova (up […]
Equities Rebound As Earnings Season Expands
Equity markets have resumed their upward march this morning to kick off the new trading week. The Hang Seng jumped 2.4% with Shanghai climbing 0.6% and Tokyo gaining 1.6%. In Europe today, the DAX is up 1.2% and the FTSE is up 0.4%. US index futures are up 0.2% to 0.4% building on Friday’s afternoon […]
Precious Metals Reach New Heights
Precious metals and mining stocks continue to soar this morning as traders anticipate further monetary easing from central banks. Gold is up 1.3%, trading above $4.250/oz, while Silver is up 1.8%, trading close to $52.50/oz, and Platinum is up 1.3%, trading above $1,700/oz. Bank of Canada Governor Macklem and several Fed officials are scheduled to […]
Stocks Rebound as Investors Focus on Earnings
Yesterday, equities demonstrated resilience, clawing back most of their early losses, and momentum has turned positive again overnight. In Asia-Pacific trading, both the Nikkei and the Hang Seng rallied by approximately 1.8%. In Europe today, the CAC is up 2.2%, the DAX is steady, and the FTSE is down 0.4%. US index futures are up […]
Gaza Ceasefire and Canada Job Rebound in Focus
The Gaza ceasefire deal, which has the potential to ease tensions in the Middle East, has had mixed implications for markets today. Crude Oil is down 1.4% as supply risks in the wider region ease. Defensive havens like precious metals, however, have not been impacted at all with Gold up 0.8% and Silver up 2.4%. […]
Metals and Oil Keep Climbing
With a 1.5% gain, Gold has blasted through $4,000/oz and continues to advance. It’s another good day for metals overall with Silver up 2.4%, Platinum up 2.3% and Copper up 0.4%. Meanwhile, the price of Oil continues it’s post-OPEC+ meeting rebound with a 1.7% gain so far today. Oil has ignored a larger than expected […]
Crude Oil Selloff Continues
The last trading day of the month and the quarter finds a number of markets which have staged strong performance lately backsliding a bit. US index futures are down 0.2%-0.3%, Gold is down 0.4% and Silver is down 1.4%. Some reports have suggested that this could be related to concerns over a potential US government […]
Oil Retreats on Increasing Supply
The price of Crude Oil is under pressure, falling 1.9% this morning. Over the weekend, exports from Iraq’s Kurdistan region resumed. In addition, traders have been speculating that OPEC+ may agree to an additional supply increase when it meets later this week. The new trading week is off to a positive start for stocks. US […]
Positive Economic Data Boosts the US Dollar
This morning, several key US economic indicators have come in significantly better than expected. The latest US Q2 GDP update (3.8% vs Street 3.3%), and durable goods orders (2.9% vs Street -0.5%) suggest a more robust economy than previously thought. Meanwhile, fewer than expected weekly initial jobless claims (218K vs previous 232K) suggest US labor […]