Opinion – Monday 13 January 2025

Stocks and bonds tumbled on Friday while the Dollar surged in response to the strong US jobs report which saw traders pare Fed rate cut bets. The NFP rose above all analyst expectations while the unemployment rate surprisingly slipped. Money markets started to unwind...

Opinion – Thursday 9 January 2025

U.S. Indices (SPX +0.2%, NDX flat, DJIA +0.3%, RUT -0.5%) were mixed on Wednesday, as were sectors, with the small-cap Russell 2000 the clear underperformer. Health and Consumer Staples were the relative outperformers, while Communication Services, Energy, and Health...

Opinion – Wednesday 8 January 2025

U.S. Indices saw broad-based weakness on Tuesday (SPX -1.1%, DJIA -0.4%, RUT -0.7%) with underperformance in the Nasdaq 100 (-1.8%) as macro moves were seen in wake of a hot US ISM Services and JOLTS report. Recapping the data, the latter rose above the top end of of...

Opinion – Tuesday 7 January 2024

U.S. Indices were predominantly green on Monday with the upside led by the NASDAQ 100. Large caps performed well while semis were bid, supported by commentary from Microsoft (MSFT) which is to spend USD 80 billion on AI data centres; attention now turns to CES this...

Opinion – Monday 6 January 2025

U.S. Indices saw strong gains on Friday with outperformance in the tech-heavy Nasdaq 100 (+1.7%) supported by gains in Nvidia (NVDA) (+4.5%) and Tesla (TSLA) (+8.3%). Newsflow was sparse to the end the week as participants continued to return from the holidays ahead...

Opinion – Thursday 2 January 2025

U.S. Indices (SPX, NDX, RUT, SPX) closed in the red on Tuesday which was the last trading session of 2024. However, internally the market was strong as shown by the McClellan Oscillator which improved from Monday’s -122 print to end the year at -62. This is the first...

Opinion – Thursday 30 September 2024

U.S. Indices (SPX, NDX, RUT, SPX) closed in the red on Friday following comments from Treasury Secretary Yellen. Treasury Secretary Janet Yellen has warned that the United States will hit its statutory debt ceiling around the middle of January, a development she said...

Opinion – Monday 23 December 2024

U.S. Indices (SPX, NDX, RUT, SPX) closed in the green on Friday but still ended the week notably in the red, as they were especially weighed on in wake of the hawkish FOMC on Wednesday. To conclude the week there was broad risk-on sentiment through the US afternoon,...

Opinion – Thursday 19 December 2024

U.S. Indices saw considerable downside (SPX -2.95%, NDX -3.6%, DJIA -2.58%, RUT -4.4%) as did Treasuries, while the Dollar surged in the wake of a hawkish FOMC. Highlighting the extent of the moves, the S&P 500 noticed its largest post-Fed move since March 2020....

Opinion – Wednesday 18 December 2024

It was a risk-off session on Tuesday with underperformance in the Russell 2000 and Dow versus the S&P and NASDAQ 100. Sectors were predominantly lower, led by losses in Industrials, Energy and Financials while Consumer Discretionary, Consumer Staples and...

Opinion – Tuesday 17 December 2024

U.S. Equity Markets closed mixed on Monday with notable outperformance in the NASDAQ 100 amid further strength in Broadcom (AVGO) and Micron (MU) supporting the move. However, both the Dow and Russell 200 again closed lower with the Dow now lower for nine consecutive...

Opinion – Monday 16 December 2024

U.S. Equity Markets closed mixed on Friday with notable outperformance in the NASDAQ 100 as tech was supported by a strong earnings report from Broadcom (AVGO), seeing the stock rally 24% and supporting the sector. Consumer Discretionary also performed well thanks to...

Opinion – Thursday 12 December 2024

U.S. Indices (S&P +0.8%, NASSAQ 100 +1.9% and RUSSELL 2000 +0.5%) saw broad-based gains on Wednesday with Communications, Consumer Discretionary, and Technology the sectorial outperformers and the former once again supported by Alphabet (GOOG) (+5.5%) strength....

Opinion – Wednesday 11 December 2024

The U.S. Dollar saw slight gains on Tuesday, albeit in pretty thin newsflow as participants await the pivotal US CPI report on Wednesday. In FX, Sterling and the Canadian Dollar were the relative G10 outperformers, while Antipodeans lagged and weighed on by the dovish...