US Open – Fed, US GDP, South Africa Budget, BOC, Oil, Gold

US stocks are little changed despite stronger than expected private payroll and GDP data, as markets await a pivotal Fed rate decision this afternoon.  This morning’s data likely confirms Fed Chair Powell’s belief that the economy is in a good place and expectations should grow for the Fed to deliver a hawkish cut this afternoon.  […]

US Open – Earnings, Draghi, CBRT, Oil, Gold, Bitcoin

US stocks are bracing for the busiest day of this earnings season.  Industrial giants, 3M and Raytheon delivered contrasting results in the pre-market.  3M posted mixed earnings results, but slashed their full year EPS forecast.  Raytheon delivered a beat on both the top and bottom and raised guidance in-line with the average analyst estimate.  Twitter […]

US Open – Caterpillar, Boeing, China, Oil, Gold

US stocks extended their premarket lows after Caterpillar delivered sour results that saw a big miss with earnings with their outlook getting slashed due to global economic uncertainty.  This was the first drop in quarterly earnings for Caterpillar in almost three years.  Mining equipment sales were down 12% and sales in the Asia Pacific regions […]

Dollar dented as data disappoints; sterling soars

The U.S. dollar fell across the board on Wednesday after dismal U.S. retail sales data painted a gloomy picture of the economy and supported the case for further interest rate cuts by the Federal Reserve. The dollar index, which measures the U.S. currency against six major currencies, was down 0.1% at 98.188. U.S. retail sales […]

US Open – Trade Concerns, Retail Sales Miss, Oil, Gold

Stocks are softer on softer than expected US retail sales and fading trade optimism between the world’s two largest economies after the US gave support to pro-democracy protesters in Hong Kong. US retail sales posted a surprise decline in September, the first drop in seven months, and a potential sign that we are seeing more […]