538 days ago
Futures contracts are higher this morning on the back of strong bank earnings. Nonetheless, retail sales came in flat, below estimates as rising rates seem to have slowed down consumption.
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538 days ago
Stocks reversed losses on Thursday from their intra-day lows to close to their highest seen since Monday. Traders are still skeptical of the bounce as Treasury yields remain elevated and there are no signs of a Fed pivot. With earnings from major American banks and retail sales data on Friday, investors will pay attention to attention to margins resilience and the strength of consumer spending.
539 days ago
US month-over-month Core CPI (less food and energy) came at 0.6%, versus 0.5% expected, for the month of September. Year-over-year came at 8.2%, versus 8.1% expected. The inflation data puts more pressure on the Fed to tighten interest rates, as it shows the fastest pace of interest rate hikes ever is not yet bringing inflation back down. Markets tanked 2.5% on the news and yields on the 10-year edged back up towards 4%.
539 days ago
Markets are in a wait-and-see moment ahead of the US CPI print. This morning, S&P500 futures are stuck near the 3'600 level, while the dollar is edging up on slightly higher Treasuries yields. Among earnings, TSMC announced cutting capital spending and EasyJet increased capacity but reported a big loss.
541 days ago
Stocks are recovering early session losses, as investors see some relief in declining yields. S&P500 futures are little changed, yields on 10-year Treasuries are retreating 5bps, and oil prices are bouncing from a technical support level.
