March Starts Strong Led By Crypto Recovery
Last week’s uncertainty and caution has quickly gone by the wayside as bulls have roared back to life to kick off March. President Trump’s announcement of a Strategic Cryptocurrency Reserve has lit a fire under the cryptocurrency market. Bitcoin has rallied from just above $80,000 to above $92,500, currently up about 10.6%. The prospect of […]
Stock Selloff Continued Overseas Overnight
The last trading day of February finds stocks trying to stabilize following yesterday’s selloff that saw the Dow lose 0.4%, the S&P fall 1.6% and the NASDAQ drop 2.8%. Today finds NASDAQ futures flat and Dow futures up 0.4%. Chipmaker Nvidia which plunged 8.5% yesterday post-earnings remains under pressure, however, down another 1.8% premarket. Asia […]
Markets Digest Inflation and Earnings News
US Producer prices came in hotter than expected this morning (3.5% vs street 3.2% and previous 3.3%), confirming the increase in inflation seen in yesterday’s US consumer price report. Tomorrow brings US retail sales for this month. Unlike yesterday where stocks sold off on the prospects of rising inflation, traders appear to be taking today’s […]
Stocks Slip Ahead of Powell Testimony
Yesterday’s equity market rally which saw major US indices gain 0.4% to 1.0% appears to have run out of steam this morning. US index futures are currently giving back some of yesterday’s gains, falling 0.2%-0.4%, while in Europe, the Dax and FTSE are essentially flat. President Trump launching 25% tariffs on Steel and Aluminum may […]
Trade War Focus Turns To China
Stocks and currencies have stabilized overnight after President Trump postponed the implementation of tariffs against Canada and Mexico for one month after agreements were reached to improve border security. New 10% tariffs continue, however, and China has retaliated with new tariffs against some US goods and regulatory investigations against some US companies. This morning finds […]
Investors Digest PMI and Earnings Reports
US index futures are trading flat to down 0.2% as traders pause to catch their breath at the end of a busy week and position for next week’s round of mega cap earnings reports. Overseas, Hong Kong rallied 1.8% and the Dax is up 0.4%, most other major markets have been quiet. Overnight, the Bank […]
Strong Earnings Keep the Equity Rally Rolling
Between a positive response to President Trump’s first days back in office and another round of positive reports, investors around the world have continued to pile on the equity market bandwagon. NASDAQ futures are up 1.0% while Dow futures are up 0.3%. Netflix* has been the star of the show overnight, soaring 14.6% premarket after […]
Canada In Focus On Inauguration Day
US markets are closed for Martin Luther King Day today and being January 20th, it’s also Inauguration Day in the USA. Coming off a strong finish to last week, which saw major US indices close up 0.8% to 1.5%, US index futures are quiet this morning trading flat to down 0.1%. European trading is also […]
Earnings Season Starts With Big Bank Beats
The first day of earnings season finds US bank and asset manager results coming in well above expectations, sparking premarket rallies. Headliners include JPMorgan* ($4.81 vs street $4.09, up 1.1% premarket), Wells Fargo ($1.43 vs street $1.35, up 4.3% premarket), Blackrock ($11.93 vs street $11.24, up 5.0% premarket), Goldman Sachs* ($11.95 vs street $8.21, up […]
Light Inflation Helps Stocks to Rebound
It appears that the recent market correction may have run its course for now. Yesterday the Dow shrugged off early losses to finish with a 0.8% gain although the NASDAQ finished down 0.4%. With the exception of Tokyo which fell 1.8% overnight, overseas markets have been on the rebound, including gains of 2.5% for Shanghai, […]