Afleveringen
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US equities finished sharply higher. A huge bounce on Trump’s decision to pause higher reciprocal tariff rates for 90 days on most countries except China, where he raised the tariff rate to 125%, effective immediately. In macro news, February wholesale inventories were up 0.3% month over month, level with January but lighter than consensus.
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US equities were sharply lower in Tuesday trading, though finished off worst levels. Stocks open sharply higher before turning lower on White House confirmation 104% tariff on China will go into effect on 9-Apr after China failed to removed retaliation. NFIB small business sentiment fell 3.3 points in March to 97.4
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Zijn er afleveringen die ontbreken?
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US equities were mostly lower following a very volatile Monday afternoon session, though stocks finished well off their worst levels, with the Dow Jones and S&P500 closing down 91bps and 23bps, while the Nasdaq finished up 10bps. White House officials continue to offer mixed messaging on trade. A bit of Fedspeak from Governor Kugler, who said coming tariffs will be consequential and the Fed is already seeing some signs of higher prices. Apple will reportedly send more iPhones to the US from India to avoid steeper China tariffs.
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US equities were sharply lower this week, driven by the selloff that followed Trump's Wednesday "Liberation Day" tariff announcements. The tariff plan includes a 10% on all imports, while additional reciprocal tariffs will be applied on 60 nations, including a 34% tariff on China, 32% on Taiwan, 46% tariff on Vietnam, and 20% on EU. Growth fears sparked a sharp repricing around the Fed rate cut path this week.
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US equities finished sharply lower in Thursday trading. It was a broadly risk-off session today as investors continue to process yesterday's "Liberation Day" tariff announcements that were more onerous than expected. In macro news, March ISM services came in weaker, printing at 50.8 versus consensus for 53.0.
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US equities finished higher in Wednesday trading, though off best levels, with the Dow Jones +0.56%, the S&P500 +0.67%, and the Nasdaq +0.87%. The session was largely a waiting game ahead of the Trump tariff announcement after the bell. This morning’s upside surprise in ADP private payrolls fits with hard vs soft data outperformance trend. Macro the big area of focus heading into the end of the week with non-farm payrolls on Friday and Powell comments following new details on tariffs and March employment.
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Today's fairly listless session came after a mostly higher finish on Monday that saw stocks come off early pressure that sent the S&P 500 briefly back into correction territory. March ISM manufacturing missed and back in contraction territory, with new orders weaker.
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US equities ended mostly higher Monday, near best levels. The market managed to recover from some early selling pressure chalked up to multiple articles over the weekend talking about Trump's preference for more onerous tariffs. In macro news, March’s Chicago PMI is better than expected, its highest since November 2023.
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US equities were lower for the week, after eking out modest gains last week. Trade continued to dominate the news flow this week with all eyes looking to the 2-Apr tariff announcement. March consumer confidence dropped more than anticipated, down for the fourth straight month.
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US equities were lower in somewhat choppy Thursday trading. Stocks saw a bit of a risk-off move as the market continued to digest the latest tariff headlines and waiting for further updates ahead of April 2nd’s "Liberation Day." In macro news, weekly initial jobless claims printed nearly in-line with consensus.
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US equities finished lower in Wednesday trading, though ended a bit off worst levels, with the Dow Jones, S&P500, and Nasdaq closing down 31bps, 112bps, and 204bps respectively. Big area of scrutiny today has been tech weakness, with negative AI headlines, trade, and technicals among the areas of blame. Durable goods orders beat; but core capital goods orders posted a surprise contraction, while core capital goods shipments came in ahead. Fed's Kashkari called for an extended hold. Treasury's auction of $70B in 5-year notes tailed by 0.5bp.
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US equities were mostly higher in Tuesday trading in a fairly listless session, though S&P 500 and Nasdaq advanced for third-straight session. Market continues to wait for more clarity around 2-Apr tariff deadline. March consumer confidence dropped more than anticipated. Richmond Fed manufacturing index also weaker than expected on soft shipments component.
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US equities were higher in Monday trading as stocks finished near best levels. Today, the market was supported by the latest trade headlines. The other big development today has been some further reprieve for the recent ramp in growth fears with the flash composite PMI hitting a three-month high on services strength.
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US equities were mostly higher for the week. A major part of the market narrative was the lack of any major tape bombs from Trump relating to trade or tariffs. Somewhat dovish takeaways from the March FOMC meeting also helped support bullish sentiment.
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US equities finished lower in Thursday trading, with some morning strength evaporating by midday and remaining slightly weaker through the afternoon. It was a very uneventful session with no clear narrative to fit today's choppy price action. In macro news, weekly initial jobless claims printed at 223K, very near the 224K consensus and prior week's 221K.
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US equities finished higher in Wednesday trading, ending a bit off best levels, with the Dow Jones, S&P500, and Nasdaq finishing up 92bps, 108bps, and 157 bps respectively. Growth and momentum factors were today's standouts. The Fed left rates unchanged for a second straight meeting, as widely expected. Today’s Statement noted uncertainty around the economy has increased and removed the language that risks to inflation and employment are roughly in balance.
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US equities finished lower in Tuesday trading, spending much of the session not far from worst levels. Continuation of Mag 7 underperformance was among the big narrative themes today. February housing starts printed at a 1501K SAAR, well above 1385K consensus and the prior month's 1350K, with building permits largely in line.
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US equities finished higher in Monday trading, though ended off best levels. Stocks were slightly better in the morning before rallying after noon, though nothing in the limited incremental newsflow as a spark. In macro news, February retail sales rose 0.2% month over month, though below the 0.7% consensus.
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US equities were again lower for the week, with the S&P dipping into correction territory on Thursday after falling more than 10% below its February 19th high. Despite oversold conditions, the market had another week of risk-off sentiment with major focus on concerns around macro softening punctuated by volatile tariff headlines. This week's positive developments on inflation progress failed to stop risk-off positioning.
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US equities finished lower in Thursday trading, ending near worst levels. It was another defensive day for the markets in the wake of an anemic bounce attempt Wednesday, with no help today from another cooler core inflation print. Government funding discussions are in focus after Schumer said Senate Democrats won't support the CR passed by the House, though shutdown expectations are limited.
