Stocks Bounce Back as Canadian Bank Earnings Week Begins
It appears that Friday’s North American selloff was primarily related to options expiry as markets have been bouncing back this morning. US Index Futures are up 0.4% to 0.7%, with Dow Futures leading the rebound from Friday’s US index losses of 1.7% to 2.2%. In Europe today, the Dax is up 0.9% with investors celebrating […]
Walmart Earnings and Tariff Risk Weigh on US Markets
Walmart*, kicked off earnings season for US retailers with disappointing numbers, sending its shares down 4.6% in premarket action. The world’s biggest retailer beat the street by a penny on earnings, beat on sales ($180.5B vs street $180.1B), grew US same store sales over year by 4.6% and raised its dividend by 13%. That all […]
Backing and Filling
The morning after the S&P 500 reached a new all-time high finds US index futures trading flat to down 0.2% with Dow Futures leading the way back downward. This appears to be mainly due to common consolidation after a move, and a lack of new developments to push markets higher. The only notable economic report […]
Positive Start to a Shortened Trading Week
US traders have returned from the long weekend in a good mood. US index futures are up 0.2%-0.5%. Europe is now in the green with the Dax and FTSE both up about 0.2%. Asia Pacific trading saw the Hang Seng rally 1.6%. The US Dollar is dropping back a bit today. Gold is up 1.0%, […]
Stocks Pause Ahead of the Long Weekend
With a long weekend approaching in North America, traders appear inclined to take profits following yesterday’s rally. Soft US retail sales and mixed earnings don’t appear to be helping sentiment either. US headline retail sales (-0.9% vs street -0.1% and previous +0.7%), and retail sales ex autos (-0.4% vs street +0.3%) showed an abrupt and […]
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 […]
US Dollar Rallies Amid Rising Inflation and Falling Stocks
US Consumer Prices (3.0% vs street 2.9%), and US Core CPI (3.3% vs street 3.1%) both came in higher than expected, suggesting that inflation may be bottoming out and starting to turn back upward. US index futures have plunged in the minutes following the release of these numbers. Currently US index futures are down 0.9%-1.0% […]
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 […]
The Canary in the Coal Mine?
Since President Trump was elected in November the US Dollar has been steamrolling pretty much all other currencies except for precious metals and cryptos (and even those sometimes as well), supported by rising US treasury yields and fewer rate cuts from the Fed relative to other central banks. So far this earnings season, the higher […]
FTSE Rallies, Sterling Sinks on UK Rate Cut
The Bank of England cut its benchmark interest rate by 0.25% as had been widely expected. This has sparked significant moves in the UK market today with the FTSE gaining 1.6% and the Pound falling 1.1%. In comparison, the Euro, Aussie, Loonie and Gold are all down about 0.3% against the US Dollar. Equity market […]