The Global PMIs Takeaway

The May global PMIs were generally disappointing, as all major regions missed estimates. But, as evidenced by the price action in stocks Thursday, the somewhat disappointing global PMIs didn’t really change anyone’s outlook on global growth. Starting in China, the number was fractionally under expectations, but it wasn’t bad enough to downgrade the outlook on[…]

Why the Fed Minutes Matter

Yesterday’s release of the Fed Minutes from the April FOMC meeting did not reveal much; however, the market reacted in a slightly dovish manner as the dollar fell back from the highs and stocks rallied modestly. The Fed Minutes showed that most FOMC members thought that it would be premature to raise interest rates in[…]

Currency Market Heats Up

The currency market heated up Tuesday, as the US dollar extended its strongest two-day rally since January thanks to dovish ECB rhetoric and the best report on US housing starts in seven years. The US Dollar Index gained 1.18% in the session. The euro-dollar pair was the most notable mover Tuesday, as there were two[…]

Bank Stocks, Retail Brighten Trading Color

Trading color was bright in two market sectors on Monday, bank stocks and retail. Cyclicals traded better yesterday, tacitly confirming the wider new highs, although given the low volumes and modest participation; the new highs were far from an enthusiastic endorsement. The Russell 2000 and the NASDAQ both outperformed the S&P 500 handily, with the[…]

Natural Gas is Heating Up

Natural gas futures are heating up, and on Thursday the energy commodity rallied sharply on inventory data. The gains in nat gas helped push the benchmark commodity tracking index ETF, the PowerShares DB Commodity Tracking ETF (DBC), up 0.60% on the day. DBC now is hovering just below its recently established 2015 high. Natural gas[…]