Emerging Global and Domestic Markets

US Open – Netflix misses, Iran seizes a vessel, Silver gains on gold, Bitcoin eyes $10,000

As earnings season picks up, the majority of early corporate profit reports are coming in better than expected, but US stock index futures are being weighed down on faltering trade talks between the US and China.  President Trump reiterates his complaint that his Chinese counterpart is not deliver ...

Gold eases from two-week high on profit-taking after Fed-driven rally

Gold fell on Thursday as investors booked profits after the metal hit a two-week high earlier in the session on increased expectations of a dovish monetary policy stance from the U.S. Federal Reserve. Spot gold slipped by 0.28% to $1,422.6 an ounce. Prices had jumped about 1.5% in the previous sess ...

Mnuchin Says No Change to U.S. Dollar Policy ‘As of Now’

Treasury Secretary Steven Mnuchin said there is no change in the U.S.’s dollar policy “as of now” but wouldn’t rule out a shift at some stage in the future. There has been “no change to the dollar policy,” he said during an interview Thursday following a Group of Seven finance ministers ...

Futures edge lower as Netflix tumbles

U.S. stock futures slipped on Thursday after streaming pioneer Netflix posted its first drop in U.S. subscribers since 2011, kicking off earnings for the so-called FANG group on a sour note. Netflix Inc (NFLX.O) sank 11.2% premarket as it also missed targets for new subscribers overseas at a time w ...

Macro Briefing: 18 July 2019

Ebola outbreak in Congo declared a global health emergency: APUS-China trade talks stuck in neutral: WSJUS preparing to send troops to Saudi Arabia as Iran tensions rise: CNNHouse kills impeachment vote on Trump: The HillGDPNow estimate of US Q2 growth remains at sluggish +1.6%: Atlanta FedNetflix ...

Pound better bid ahead of retail sales

  Rebound extends to a second day GBP/USD looks poised to extend the rebound from more than two-year lows today with near-term trendline support holding for now. Traders are awaiting the retail sales data for June, which are due in just under an hour’s time, are expected to show another month-on ...

Beneath the Surface of China’s CSI 300 Index is Kind of Boozy

On January 3, 2019, Chinese stocks made a v-shaped bottom and surged into a peak on April 19, 2019. Since then, stocks have corrected by about 7%, dropping, recouping about 6% of the peak to trough decline that ended on June 6, 2019. ...

Oil Mixed After EIA Report Shows Large Drawdown

Oil fell on Wednesday after the release of the Energy Information Administration (EIA) weekly crude inventories report showed a larger drawdown than anticipated at 3.1 million barrels of crude, a surprise buildup of 3.6 million barrels of gasoline and a larger than expected buildup of distillates a ...

Treasury yields slide after Trump casts doubt on trade deal

U.S. Treasury prices rose early Wednesday, pushing yields lower, after resurfacing fears around a Trump trade deal weighed on equities, stoking appetite for government bonds. What are Treasurys doing? The 10-year Treasury note yield TMUBMUSD10Y, -0.87% slipped 2.8 basis points to 2.092%, while the ...

Iron ore’s latest rally comes despite improved supply picture

Iron ore, the “red dirt” that is the key ingredient for the manufacture of steel, is attracting significant interest again, both internationally and within China. Its price has just seen one of its sharpest ever rallies, almost doubling in value over seven months to hit $126.35/mt on July 3, re ...