U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.Energy equities and related ETFs are expected to open lower after the price of crude oil dropped $5.40 to US$108.50 per barrel in overnight trade. Tesla gained $61.38 to $1,072.00 after the company indicated plans to split its stockApple dropped $2.27 to $172.45 after reportedly cutting it...Read More
Base metals prices on the London Metal Exchange were upbeat on the morning of Friday March 25, although those trading on the Shanghai Futures Exchange gave a mixed performance as prices followed the pullbacks seen on the LME on Thursday.Nickel on both exchanges remains the exception; the metal is still trading its own agenda while it adjusts to recent turmoil.Flash manufacturing purchasing manager...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade. Darden Restaurants slipped $0.26 to $132.14 after the company lowered 2022 guidance. Cannabis equities and related Exchange Traded Funds are expected to open higher on news that the U.S. House of Representative is planning to vote on legalization of cannabis use. Alaska Airlines added $1...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 28 points at 7:30 AM EDT.The February Durable Goods Orders report is scheduled to be released at 8:30 AM EDT. Consensus is a drop of 0.6% versus a gain of 1.6% in January. KB Homes dropped $1.48 to $34.49 after reporting less than consensus first quarter revenues and earnings. Spotify gained $1.08 to $149.65 after the...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly firmer on the morning of Wednesday March 23, with April nickel prices on SHFE registering an almost 2% gain.* Will Russia pushback against sanctions by curbing oil exports?* LME nickel prices found their price level on Tuesday.* The sell-off in bonds is seeing a rotation in other asset classes.* UK consu...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 20 points in pre-opening trade. General Mills advanced $1.19 to $63.87 after reporting higher than consensus first quarter earnings. The company also raised guidance. Adobe dropped $10.45 to $456.00 despite reporting higher than consensus fiscal first quarter revenues and earnings. The company also lowered guidance fo...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Nike gained $8.11 to $138.30 after the company reported higher than consensus fiscal third quarter revenues and earnings.Altria advanced $0.56 to $52.25 after Goldman Sachs upgraded the stock to a Buy.Schlumberger added $1.45 to $41.19 after Goldman Sachs added the stock to its Conviction...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Tuesday March 22, and volumes on the former have been very light with less than 2,000 lots traded as at 6.30am London time.* Federal Reserve chair Jerome Powell adamant the US central bank will attack inflation aggressively.* Brent crude oil back at $115 per barrel.* Expect LME nickel to...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade. Crude oil gained $4.37 to $109.07 per barrel in overnight trade.Boeing dropped $11.93 to $180.90 after a Boeing 737 aircraft crashed in China.Intuit slipped $0.88 to $478.99 after Stifel Nicolaus lowered its target price from $600 to $580.Berkshire Hathaway slipped $2.67 to $342.41 after...Read More
released yesterday atStockTwits.com@EquityClockFebruary was a weak month for the consumer with Retail Sales in the US slipping by 2.1% (NSA), which is weaker than the 1.0% decline that is average for the month. Activity is still maintaining an above average pace on the year, however. $MACRO $STUDY #Economy #Retail #Consumer$XRT $RTHWhile mean reversion is providing a temporary reprieve in some of...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 14 points at 7:30 AM EDT.. U.S. economic news to be released at 8:30 AM EDT includes February Housing Starts and the March Philly Fed Index. Consensus for February Housing Starts is an increase to 1.683 million units from 1.638 million units in January. Consensus for March Philly Fed Index is a slip to 15.0 from 16.0...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Thursday March 17, with one noticeable feature being that volumes on the LME have been very light.• LME extends daily limit on nickel to 8% for Thursday’s trading• Market takes Federal Reserve’s 25 basis point rate rise in its stride• Hope emerges for Russian-Ukr...Read More
The three-month nickel price on the London Metal Exchange reached its downward limit soon after the opening on Wednesday March 16, while the rest of metals were generally firmer, as were the base metals on the Shanghai Futures Exchange.* China announces measures to boost the economy and support markets...* ...as the spread of Covid-19 surges.* Markets seem ready for Federal Reserve’s rate ris...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 46 points in pre-opening trade. Index futures responded to encouraging overnight news from Ukraine and China. The Shanghai Composite Index advanced 106.75 to 3,170.71. Index futures moved lower following release of February Retail Sales at 8:30 AM EDT. Consensus was an increase 0.4% versus a gain of 3.8% in January. Ac...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 25 points in pre-opening trade despite weakness in Far East markets. The Shanghai Composite Index plunged 159.57 to 3,063.97 after the government shut down Shenzhen affected by a COVID 19 outbreak.Futures moved higher following release of economic news at 8:30 AM EDT. Consensus for the February Producer Price Index was...Read More
Base metals prices on the London Metal Exchange were mixed on the morning of Monday March 14, albeit with nickel still suspended from trading on the exchange, while prices on the Shanghai Futures Exchange were all weaker.* US dollar holding at close to 2022 high* US 10-year treasury yields back above 2%* Markets bracing for interest rate rises this weekBase metalsThree-month base metals contracts...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Index futures responded to a drop in crude oil prices. WTI crude oil fell $4.41 to $104.89 in pre-opening trade. Loblaw Companies' Shoppers Drug (L Cdn$114.38) subsidiary announced purchase of Lifemark Health Group for Cdn$845 million.FedEx slipped $6.03 to $213.08 after KeyBanc Capital...Read More
Base metals on the London Metal Exchange were up across the board on the morning of Friday March 11, albeit with nickel on the LME still suspended.On the Shanghai Futures Exchange most of the metals were stronger, although August nickel was down by 9.6%. On balance, the metals seem to be taking a timeout after all the recent gyrations.• US CPI rises 7.9% in February, compared with February 20...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 45 points in pre-opening trade.The Canadian Dollar added 0.23 to US78.54 cents following release of Canada's February Employment Report at 8:30 AM EST. Consensus was a drop in the February Unemployment Rate to 6.2% from 6.5% in January. Actual was a drop to 5.5%. Consensus was an increase in February employment was an...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 34 points at 7:30 AM EST. Index futures responded to failed negotiations between Ukraine and Russia to halt the conflict.Much of the early advance by the S&P 500 Index can be attributed to overnight news from Amazon. The company announced plans for a 20/1 stock split. The company also announced a $10 billion share...Read More