Canada and Cryptos Get Crushed in Trump Tariff Trading
One of the biggest lessons I have learned in my decades as a market analyst and my studies of market and economic history is that markets hate tariffs, markets despise tariffs. Tarriffs dump sand in the gears of the global economy and markets hate them. Hopes that Treasury Secretary nominee Bessent could potentially soften rhetoric […]
Strong Start to a Short Week
Equity markets are off to a positive start this week with US index futures up 0.5%-0.7%, building on overseas gains of 0.4% for both the FTSE and Dax and 1.3% for the Nikkei. The Ukraine conflict didn’t worsen over the weekend and investors appear to be pleased with incoming President Trump’s pick for Treasury Secretary. […]
Mind The Gap as Retailing Moves Into the Spotlight
Retailer Gap looks to be heading for a big day with a gain of 19.4% premarket adding to yesterday’s 6.9% advance. Earnings per share crushed expectations ($0.72 vs street $0.58). Management indicated the holiday quarter is off to a strong start and raised guidance. On the other hand, Intuit is down 2.8% premarket despite an […]
Nvidia Rebounds Post-Earnings, Bitcoin Rally Continues
After the close last night, Nvidia earnings beat expectations ($0.81 vs street $0.75). Sales and guidance also beat the street. The shares traded 1-3% underwater through aftermarket and early premarket trading but in the last hour or so, they have started to climb and are currently up nearly 2.0% premarket. Boosted by Nvidia’s rebound, US […]
Stocks Pause Ahead of US Debate
Coming off a big bounce to start the week which saw major US indices gain 1.1%-1.2%, US index futures are trading pretty much flat this morning. It appears that in the absence of other news, US traders are digesting recent market action and positioning ahead of tonight’s US Presidential debate and tomorrow’s US Consumer Price […]
China Rate Cut and First Retailer Earnings
Investors looking for central banks to start cutting interest rates got their wish overnight as China cut its 5-year loan rate by 0.25% to 3.95%, and several banks stepped in to shore up currency trading. While this news helped Hong Kong and Shanghai to bounce 0.4%-0.6%, the broader impact has been decidedly bearish. It appears […]
Stocks Consolidate S&P 5000 as Earnings Season Continues
Coming off a big Friday where the S&P 500 gained 0.5% to close above 5000 for the first time ever, US index futures are flat, trading between -0.1% and +0.1%. In Europe, the Dax is up 0.3% while the FTSE is down 0.2%. Most Asia Pacific markets were closed for Lunar New Year holidays but […]