Today looks like a return to the “vulnerable” market of last week
For me the question today was whether the market would look like the “vulnerable” market of the first four days of last week–you know when U.S. stocks moved lower, the dollar continued to climb but so did the yen, and emerging market equities fell and it looked like we were moving back to a typical risk-off market–or whether Friday’s strong day for U.S. stocks broke the pattern.
Market decides not to go much of anywhere ahead of the weekend
U.S. stocks stabilized today–thanks to better than expected earnings from Citigroup (C) and JPMorgan Chase (JPM) and, well, Friday. The Standard & Poor’s 500 stock index closed up 0.02%. U.S. crude oil benchmark West Texas Intermedite fell 0.24% but remained above $50 a barrel at $50.32. The iShares MSCI Emerging Markets ETF finished ahead by 0.16%
A “vulnerable” market looks to be shifting to risk off stance
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Saturday Night Quarterback says, For the week ahead expect…
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UK voters decide to leave European Union–What’s next (Part II Medium Term)?
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Morgan Stanley says No again to China on emerging markets index inclusion
Wait until next year. Again. Morgan Stanley Capital International, the keeper of the MSCI Emerging Markets index, yesterday decided that it wasn’t time yet to include China’s Shanghai and Shenzhen markets in the stock index. This marks a third “No” from Morgan Stanley’s index keepers
Is another outbreak of capital flight from the yuan the worst scenario facing this market?
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Market falls as it moves to price in new odds on a Fed interest rate increase
Yesterday’s release of the minutes from the Federal Reserve’s April meeting has produced a massive change in market sentiment. Monday before release of the minutes financial markets were giving odds on a June interest rate increase of just 4%. After the meeting those odds soared and they continued to move up today to reach 26%.
Earnings worries move to the fore today
Today marked the official turn in financial market attention from central banks and interest rates to the upcoming–and likely disappointing–U.S. earnings season. Projections are that earnings of the stocks in the Standard & Poor’s 500 stock index will see a year over year decline in earnings of 7% to 7.4%, depending on your data source preference.
Market looking to Fed minutes tomorrow for reassurance
After a Monday speech by Boston Federal Reserve Bank President Eric Rosengren raised the possibility that Wall Street has mis-interpreted the Fed’s plans on interest rates, the markets are looking to the release tomorrow of minutes from the Fed’s March 16 meeting for reassurance. Could it be that the Federal Reserve will implement its next interest rate increase sooner than is now expected?
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