Opinion – Wednesday 20 August 2025

U.S. Indices sold off on Tuesday, with weakness led by the mega-cap tech stocks, seeing the NASDAQ underperform, with the Financial Times citing the tech weakness to a MIT paper questioning returns from new technology, which has punctured Wall Street enthusiasm....

Opinion – Tuesday 19 August 2025

U.S. Indices were rangebound to start the week, while the Russell 2000 (+0.4%) outperformed in thin newsflow and typical summer trading conditions as focus resided around US/Ukraine/Russia updates. On Friday, after the close, Trump and Putin held a summit, whereby...

Opinion – Monday 18 August 2025

U.S. Indices traded mostly in the red on Friday as tentativeness was present across markets ahead of the Trump/Putin meeting. Despite US Retail Sales matching expectations in July alongside a stronger-than-expected control figure (a better gauge of core spending),...

Opinion – Thursday 14 August 2025

U.S. Indices closed higher on Wednesday, but small caps continued to surge while the NASDAQ closed marginally higher. The outperformance in the Russell was led by more dovish rate cut bets, which were bolstered by Treasury Secretary Bessent advocating for a 50bps move...

Opinion – Wednesday 13 August 2025

U.S. Indices closed at new all-time highs on Tuesday while the Dollar was sold and T-Notes steepened in response to a “not as bad as feared” CPI in the face of President Trump’s tariffs, keeping a September rate cut on the table following the weak...

Opinion – Tuesday 12 August 2025

U.S. Indices ultimately settled lower to start the week in a day of quiet newsflow, with attention turning to US CPI on Tuesday. Highlights came from over the weekend, where US President Trump approved export licenses for Nvidia (NVDA) and AMD (AMD) to sell chips to...

Opinion – Monday 11 August 2025

U.S. Indices closed higher on Friday with the majority of sectors firmer, Tech, Communication and Financials outperformed, while Real Estate, Utilities and Industrials lagged. US President Trump announced just before the close on Thursday that CEA Chair Miran will be...

Opinion – Thursday 31 July 2025

U.S. Indices closed lower as both stocks and Treasuries were sold on Wednesday, while the Dollar saw a notable bid in the wake of a hawkish Fed Chair Powell. In the FOMC rate decision, the central bank held rates at 4.25-4.50%, as expected, with Governors Waller and...

Opinion – Wednesday 30 July 2025

U.S. Indices closed on Tuesday amid a deluge of earnings, which saw Industrials reside as the sectoral laggard and hit by Boeing (BA) (-4%) and UPS (UPS) (-10.5%) post-results, with the latter weighed on as it did not provide revenue or operating profit guidance amid...

Opinion – Tuesday 29 July 2025

U.S. Indices closed mixed on Monday with markets chopping to the US/EU trade announcement. The news of the deal, which includes a 15% tariff, was initially hailed by markets as a step in the right direction, but sentiment on the deal swiftly turned. European officials...

Opinion – Monday 28 July 2025

U.S. Indices closed higher on Friday amid trade optimism ahead of a key risk week. Sectors were predominantly firmer with outperformance seen in Materials, Industrials and Consumer Discretionary, while Energy, Communication, and Real Estate lagged. The outperformance...

Opinion – Thursday 24 July 2025

U.S. Indices closed higher while Treasuries were hit on Wednesday, with focus on trade updates. The US announced a trade deal with Japan where Japan will pay a 15% tariff on imports to the US, down from the previous 25%, while focus has also been on a touted EU deal,...

Opinion – Wednesday 23 July 2025

U.S. Indices closed the day mixed on Tuesday, as the tech-heavy NASDAQ 100 lagged and was weighed on by weakness in mega-cap names Nvidia, Microsoft, Broadcom, and Netflix, while the Russell 2000 pared Monday’s losses. Amid a lack of tier 1 data and Fed blackout...

Opinion – Tuesday 22 July 2025

U.S. Indices were predominantly bid on Monday, with upside led by the NASDAQ thanks to gains in the heavyweight tech stocks, while the equal-weighted S&P (RSP) and Russell underperformed. Sectors were more mixed, with strong outperformance in communication and...