Articles
Stocks drop, yields up as Fed hawks bash pivot hopes
US equities declined modestly in Thursdays session futures were pointing to a steeper decline after Voting Fed member Bullard dampened hopes of a Fed “pivot” anytime soon, re-iterating the Feds determination to see inflation lower and downplaying one soft inflation report. Stocks did recover during the session though as the “bad news i...
The latest Alibaba results are here – the stock is rising
Alibaba Group Holding Limited (NYSE: BABA, HKEX: 9988) announced the latest financial results on Thursday. The Chinese e-commerce giant reported revenue of $29.124 billion (up by 3% year-over-year), falling slightly short of $29.288 billion expected. Earnings per share topped analyst estimates for the quarter at $1.816 per share (an increase ...
EUR looking Bullish
The EUR has been on a ‘recovery rally’ since it fell below parity level with USD earlier this year. With inflationary pressures potentially easing across the world the USD has finally taken a breath. The currency which has been haven for many market participants in dealing with the high volatility finally saw a dip after weaker than expected US...
Australian employment figures beat forecast – Rates markets and AUD reaction
Australian October employment figures released at 11:30 AEDST handily beat expectations with 32.2k jobs added for the month (15k expected), the unemployment rate also unexpectedly fell to 3.4% when it was expected to be unchanged at 3.5%. Coupled with yesterdays beat in the Wage Price index which showed wages increased 1% in Q3 paints an optimis...
NVIDIA results announced
NVIDIA Corporation (NASDAQ: NVDA) reported its latest financial results after the market close in the US on Wednesday. The US technology giant beat revenue estimates but fell short of earnings per share (EPS) expectations for the quarter. The company reported revenue of $5.931 billion (down by 17% year-over-year) vs. $5.781 billion estimate. ...
Bitcoin ready for its next leg down?
Bitcoin has seen its price plummet after a volatile week largely due to the collapse of Cryptocurrency exchange, FTX. The price of the Bitcoin has fallen to levels not seen since November 2020. The price is now showing signs that it may be in a short-term consolidation before it may sell off again. The downward move may be amplified, especially if ...
US equities rally on softer PPI figure though upside capped on hawkish Fed rhetoric and geopolitics
US markets rallied in a choppy session after a softer Producer inflation figure mirrored the Consumer inflation figure from last week, giving investors optimism that US inflation may have peaked. Gains were tempered though with Fed voting members Barr and Harker both made hawkish comments regarding the Feds fight against inflation and reports of a ...
Walmart posts better-than-expected Q3 results – shares move higher
Walmart Inc. (NYSE: WMT) announced its latest financial results before the market open in the US on Tuesday. World’s largest supermarket chain reported total revenue of $152.8 billion for the quarter (up by 8.7% year-over-year) vs. $147.668 billion expected. Earnings per share reported at $1.50 per share (up by 3.4% year-over-year) vs. $1.3...
US markets break winning streak after post CPI exuberance, cryptos down again
The US equity post CPI rally of last week ran out of steam in Mondays session as consumer inflation expectations rose and mixed messages from Federal Reserve members saw a choppy first half of the session only to see a steep decline into the close with the Dow Jones ultimately finishing down 211 points (-0.63%) Futures opened Monday with a gap d...
Soft CPI figure sees Stocks, Bonds and Gold soar as the USD and yields collapse
Risk on was definitely back on in Thursdays US session after a softer than expected October Core CPI print, coming in at 0.3% vs the expected 0.5%, combined with broadly less-hawkish comments from Federal Reserve members Daly, Logan and Harker sparked the biggest rally in US equities since April 2020. The rally was broad with all major US inde...
NIO falls short of expectations for Q3 – but the demand is growing
NIO Inc. (NYSE: NIO) announced Q3 financial results before the market open in the US on Thursday. The Chinese automaker fell short of analyst estimates for the quarter. The company reported revenue of $1.827 billion (up by 26.3% from the same period last year) vs. $1.836 billion estimate. Loss per share reported at -$0.297 per share vs. analy...
Crypto Crashes as exchange, FTX, faces liquidity crisis.
Bitcoin has dropped dramatically over the last 24 hours to its lowest level for the year after fears were sparked that major player FTX faced a liquidity crisis. In the last two years cryptocurrency has become available to large institutions and funds which has increased the overall size of the market. However, at the same time it has made it vulne...
US equities rise ahead of Midterm results in choppy session as Crypto craters
US equities got off to flying start with reports of possible peace talks between Russia and Ukraine and a softening in the rate environment saw solid gains across the major indices for the first half of the session. Chaos in the Crypto market then hit dragging down stocks before a bounce off technical levels saw the Dow Jones still finish up over 1...
Disney falls short of expectations – the stock tumbles in the after-hours
The Walt Disney Company (NYSE: DIS) reported the latest financial results for the fourth quarter and fiscal year ended October 1, 2022, after the closing bell in the US on Tuesday. The biggest entertainment company in the world missed both revenue and earnings per share estimates (EPS) for the quarter. The company reported revenue of $20.15 b...
China in Covid 19 limbo creating headwind for the global economy?
In recent days and weeks there have been rumours that China is beginning to consider an easing of its Covid restrictions. As virtually the last country with extreme Covid restrictions, a shift in policy from China would be a major catalyst for the global markets and economy. Whilst the CCP has not yet announced any actual easing, there are hopes th...