News of note & exclusive market commentary
The ADP report indicated private sector jobs shrunk by only 27,000 in their report on Monday. While the market might interpret this as encouraging compared to the initial 6.6 million jobless claims, the full unemployment picture has not yet been revealed.Read More
For the first time since February 12th, Dow and S&P 500 futures saw gains for two consecutive sessions. While this is a positive signal for many traders, much of yesterday’s gains were pared before the close.
A major contributor to the 2-day rally, Boeing (BA) closed up 24% Tuesday, accounting for more than a third of the Dow’s advance. Conversely, although the Nasdaq was up as much as 2.7% yesterday, it fell behind the other indexes late in the day and finished lower.Read More
As communities and business around the globe undergo significant transitions in an effort to contain the COVID-19 virus, the economic fallout of the pandemic has raised volatility to record levels.
On Sunday, the Federal Reserve announced an interest rate cut to near zero in an attempt to stabilize markets, but nevertheless Monday’s volatility shot sky high. The CBOE’s volatility index (VIX) is at levels not seen since 2008 as US markets stagger at 3-year lows.Read More
For the second time this week, equity index futures were locked limit down temporarily this morning as markets absorbed Trump’s announcement of a comprehensive travel ban from Europe to the US.
Markets tumbled yesterday after the World Health Organization declared the Covid-19 coronavirus a global pandemic. In an effort to contain the spread of the virus, President Trump issued a 30-day travel ban from Europe to the US, excluding the UK.
As stated by the White House, the ban “only applies to human beings, not goods and cargo.” Nevertheless, European stocks plunged to the lowest levels since June 2016 on the news.Read More
CME energy futures reached an all-time high daily volume record of 6.8 million contracts on March 9 topping the previous record of 6.2M on September 16, 2019.Read More
After the biggest 4-day percentage loss in over a year, US equity index futures are in recovery this morning as markets seek direction. Trepidation over the economic impact of coronavirus has sparked a sharp selloff starting late last week.
In the last two days alone, the Dow Jones Industrial Average fell more than 1,900 points and the S&P 500 lost approximately $1.74 trillion worth of market capitalization. The Nasdaq dropped as much as 10% from its all-time high last week.
Markets look to be modestly recovering this morning:Read More
US equity index futures markets surged more than 1% Tuesday morning bolstered by news that China’s central bank will be stepping in to help steady Asian markets. 1.7 trillion yuan ($242.74 billion) was added to the Chinese economy helping to alleviate recent losses resulting from fears surrounding the emerging coronavirus epidemic.Read More
Buoyed by a phase one US-China trade deal and positive earnings reports from Q4 2019, E-mini index futures continue pushing to new highs. After a record close yesterday, Dow and S&P 500 futures are looking at another record day based on this morning’s action.Read More
Crude oil saw the biggest daily gains in over a month as markets received news that a top Iranian general, Qasem Soleimani, was killed in an airstrike ordered by President Trump. Analysts believe that this conflict could disrupt the global oil supply since the Middle East is home to both major oil-producing countries and crucial supply routes. Read More
After more than two & a half years of negotiations, American and Chinese officials announced Friday that an agreement was made on a phase one trade deal. The deal will reduce some US tariffs on Chinese goods and in turn China will increase purchases of American agricultural, manufactured and energy products.
Another main feature of the agreement includes China pledging to improve protection of US intellectual property which is good news for American tech companies. Markets rose sharply on Friday as news reached traders and the follow-through can be seen in Monday’s trading. Not surprisingly, the biggest gains have been noticed in tech-heavy Nasdaq futures.Read More