Stocks Slide Between Earnings Reports
Although the main part of earnings season is over and there are only a few notable reports this week, results and guidance continue to reflect shifting investor sentiment. Despite handily beating street expectations on EPS ($1.46 vs street $1.30), and sales, cybersecurity company Palo Alto Networks plunged in aftermarket trading yesterday afternoon, and currently it […]
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 […]
Producer Prices, Options and Earnings Drive Pre-Holiday Trading
It’s options expiry day and the last trading day before a long weekend in North America. US index futures have come down in the last few minutes since US economic reports came out. Higher than expected US producer prices (0.9% vs street 0.6% and previous 1.0%) and lower than expected US housing starts (1.33M vs […]
S&P Flirts With 5000 Amid Earnings and Economic News
US equities continue their rebound this morning. US index futures are up 0.1%-0.2%, with S&P futures back up above 5000, building on yesterday’s 0.4%-1.3% rebounds. In Europe today, the Dax is up 0.7% and the FTSE is up 0.1%. The Nikkei rallied 1.2% overnight and traded above 38,000 for the first time in over 30 […]
Stocks Bounce Back From a Correction
US index futures are up 0.3% to 0.8% this morning as markets try to claw back some of yesterday’s US index losses of 1.3% to 1.8%. Over in Europe today, the FTSE is up 1.0% and the Dax is up 0.4%. The US 10-year treasury note yield is steady near 4.30%. UK consumer prices were […]
Higher Inflation Hammers Stocks
Despite US indices like the Dow and the S&P hitting all-time highs yesterday, upward momentum was slowing and markets finished mixed with the Dow up 0.3% and the NASDAQ down 0.3% on the say. Today momentum has tipped over and turned sharply downward with US index futures dropping 0.8% to 1.6%, while the Dax is […]
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 […]
S&P 500 Breaks Through 5,000, Canada Jobs Beat Expectations
US equities continue to climb at a moderate pace. Building on yesterday’s US major index gains of 0.1%-0.2%, US index futures are up 0.1% to 0.3% this morning. Having peeked above 5,000 briefly yesterday, S&P futures are trading clearly above the 5,000 level this morning. Indices are essentially flat in Europe this morning. Treasury yields […]
S&P 500 Reaches 5,000
It’s a momentous day for US equity markets with the S&P 500 Index reaching the 5,000 mark for the first time today. The S&P 500 has gained 3.1% over the last week, compared with a 0.25% decline for the S&P/TSX Composite Index. While Technology continues to drive the rally, there has been wider participation among […]
Earnings Reports Dominate Business News
US index futures are trading flat to up 0.3% with NASDAQ futures leading the way, essentially evening out yesterday’s US index performance of flat to up 0.3% where the Dow Industrials were the leader. Major European indices are in the red across the board with the FTSE falling 0.3% and the Dax down 0.2%.Now that […]