Opinion – Monday 17 February 2025

U.S. Indices closed mixed on Friday with outperformance in the NASDAQ 100 as Communication and Tech names outperformed, while the S&P 500 and Russell 2000 were little changed, and the Dow underperformed. The Dow was weighed on by retailers (WMT, PG) after a...

Opinion – Thursday 13 February 2025

U.S. Indices closed Wednesday mixed, but that only tells half the story, as a broad-based hawkish reaction was seen on the hot US CPI report, before paring. As such, after all major metrics in the release topped expectations, US equity futures and Treasuries saw...

Opinion – Wednesday 12 February 2025

U.S. Equity Markets closed mixed on Tuesday trade with overnight weakness on Trump steel and aluminum tariffs paring to see the S&P close flat, while both the NADSAQ and Russell 2000 closed down and Dow Jones higher. Sectors were also mixed with outperformance in...

Opinion – Tuesday 11 February 2025

U.S. Indices climbed higher on Monday (SPX +0.7%, DJIA +0.4%, RUT +0.4%) despite tariff escalation talk over the weekend, namely that US President Trump is to announce 25% tariffs on all steel and aluminium coming into the US. NDX (+1.2%) outperformed, and supported...

Opinion – Monday 10 February 2025

U.S. Indices closed in the red on Friday, as they initially saw two-way action on the US jobs report (more below), before the move lower began in the wake of the University of Michigan metrics whereby all the three main measures printed below consensus and outside the...

Opinion – Thursday 6 February 2025

U.S. Indices were bid throughout the entirety of the US session despite weakness overnight, seeing stocks close with slight gains with outperformance in the RUSSELL 2000. Sectors were predominantly green with outperformance in Tech as NVDA and chip names were buoyed...

Opinion – Wednesday 5 October 2025

U.S. Indices ultimately closed in the green on Tuesday with both the RUSSELL 2000 and NASDAQ 100 leading the gains, although sectors were mixed. Defensives lagged with Utilities, Staples and Health Care all red, while Energy, Communications and Tech were bid. Market...

Opinion – Tuesday 4 February 2025

U.S. Indices closed in the red, albeit well off worst levels, as Trump tariff talk dominated markets to start the week. The Dollar saw Index hefty gains to the detriment of G10 FX (with the exception of both Sterling and the Japanese Yen) but saw a large range...

Opinion – Monday 3 February 2025

Stocks and bonds ended the Friday session lower with focus on tariffs. Sentiment was initially boosted on reports that President Trump was set to postpone the tariffs by one month to March 1st, however the White House Press Secretary announced this was false and that...

Opinion – Thursday 30 January 2025

U.S. Equity Markets were choppy on Wednesday and ultimately saw two-way action on the Federal Reserve meeting. In an immediate reaction to the Fed holding rates at 4.25-4.50%, as expected, there was a hawkish reaction to the accompanying statement whereby it removed...

Opinion – Wednesday 29 January 2025

Tuesday’s trading session was largely a reversal of the Monday DeepSeek reaction. US equity futures were bid throughout the majority of the session led by upside in tech with Nvidia (NVDA) regaining some of the Monday losses, albeit still having some ground to...

Opinion – Tuesday 28 January 2025

U.S. Equity Markets were broadly hit on Monday with steep losses in AI and tech names leading the downside with NVDA closing down 17%. The weakness was observed with questions now hanging over the AI dominance in the US after China’s DeepSeek (an openAI rival)...

Opinion – Monday 27 January 2025

U.S. Equity Markets closed lower on Friday with the majority of losses occurring in the US afternoon on likely profit taking into the weekend after President Trump’s first week in office which saw the S&P 500 hit a fresh record high earlier in the week....

Opinion – Thursday 23 January 2025

U.S. Equity Markets  predominantly closed higher with the S&P 500 printing a fresh record high while T-notes saw gradual selling, more so in the belly. The upside in stocks was led by the NASDAQ 100 with Tech and Communication names the only sectors truly in the...