Opinion – Monday 29 April 2024

U.S. Equity Markets saw strong gains on Friday (SPX +1%, NDX +1.7%) although that appeared mostly a big tech earnings story (GOOGL +10%, MSFT +2%) with the equal-weight S&P flat. The macro highlight was the March Core PCE, +0.32% M/M versus 0.3% expected, which...

Opinion – Thursday 25 April 2024

U.S. Equity Markets Stocks were choppy on Wednesday with NASDAQ outperformance after a short squeeze on TSLA (+11%) post-earnings as investors await more big tech earnings reports. However, post the cash market close, META stock is down 15% post earnings send both the...

Opinion – Wednesday 24 April 2024

U.S Equity Markets continued their rally after the slump seen last week. The majority of the upside was sparked after the soft US PMI data with some cautious commentary on the labour market supporting the dovish move. As a result, the Dollar sold off throughout the...

Opinion – Tuesday 23 April 2024

U.S. Equity Markets managed to claw back some of the prior week’s losses, with a rebound in Nvidia (NVDA) shares and in Semi-Conductors supportive of the move, underpinning technology outperformance. Elsewhere gold and oil prices were lower on a lack of...

Opinion – Monday 22 April 2024

U.S. Equity Markets closed lower for the sixth consecutive trading session led by the NASDAQ with notable downside in Nvidia (NVDA) and Netflix (NFLX) shares. The latter was hit on a slightly disappointing next quarter revenue guidance and stopping to report...

Opinion – Thursday 18 April 2024

U.S. Equity Markets closed lower on Wednesday with losses led by the NASDAQ as the Tech sector underperformed with semis weighed on by a poor ASML earnings report. Stocks had pared some of the weakness after a stellar 20 Year bond auction before selling resumed into...

Opinion – Wednesday 17 April 2024

U.S. Equity Markets were choppy on Tuesday amid hawkish Fed speeches and mixed earnings reports as the Indices attempted to find some ground after recent selling, with the VIX back under 19 and a lack of response (so far) from Israel. There were two key Fed speeches...

Opinion Tuesday 16 April 2024

The U.S Equity Market sell-off continued Monday to see the S&P 500 lose 2.6% across Friday and Monday, its largest two-day sell-off in more than a year, and now closing beneath its 50 Day Moving Average for the first time in five months, according to Bloomberg,...

Opinion – Monday 15 April 2024

U.S. Equity Markets were sold on Friday with Iran fears and poor bank earnings weighing into the weekend, with small caps suffering the most. Treasuries saw strong gains, paring some of the week’s losses amid the Iran concerns and risk aversion. JP Morgan saw...

Opinion – Thursday 11 April 2024

U.S. Equity Markets closed lower yesterday following the release of the latest inflation report from Uncle Sam which came in “hotter than expected”. The March consumer price index (“CPI”) rose 0.4% for the month, making for a 3.5%...

Opinion – Wednesday 10 April 2024

U.S. Equity Markets ultimately saw slight gains despite a choppy session yesterday, that witnessed plenty of two-way price action. Strength in the futures was seen pre-market after reports Google (GOOGL) is expanding its in-house chip efforts and a slew of cloud deals...

Opinion – Tuesday 9 April 2024

It was calm before the storm on Monday as participants await key risk events, namely U.S. CPI on Wednesday, but also several Central Bank decisions, including from the ECB, BoC and RBNZ, while the FOMC Minutes will also be released post-CPI. Earnings season also...

Opinion – Monday 8 April 2024

Equity Markets rallied Friday after shaking off a knee-jerk sell-off to the hot U.S. jobs report. The 303K jobs added (exp. +200K; prev. +270K), just in line AHE (+0.347% M/M) and fall in U rate 3.8% (exp. unchanged. at +3.9%) saw big selling in Treasuries as part of...

Opinion – Thursday 4 April 2024

Equity and Bond Markets were choppy while the Dollar took a hit on the soft ISM services PMI. Stocks started the session on the front foot in wake of the ISM data while T-Notes pared the earlier ADP-induced weakness. Fed Chair Powell largely stuck to the script which...