Stocks and Treasury yields fell in overnight trading and held their overnight losses following today’s initial unemployment claims which showed another three million Americans filed for claims last week. Investors are hoping today will be a repeat of the last four weeks where stocks rallied on more Americans losing their jobs. Initial jobless claims came … Read more
Stocks once again rallied in overnight trading and after brushing off the worst quarter GDP print since the Great Financial Crisis, stocks extended their rally in pre-market trading on Gilead headlines on Remdesivir. Remdesivir was previously tested and used by China during the Wuhan breakout of the Coronavirus where it was not deemed to be … Read more
Stocks surged in overnight trading as rumors the Fed will take the Federal Funds Rate negative propelled buyers to bid stock prices up over fears of inflation. With crude oil prices falling in overnight trading to as low as $10 per barrel for June contracts, fears of inflation are overblown. Further dispelling inflationary fears, Treasury … Read more
Stocks rallied in overnight trading after the Bank of Japan announced they will buy an unlimited amount of Japanese government bonds, even though there has been little demand to sell to the BoJ. Treasury yields rose slightly with 30-year Treasuries revisiting its key resistance level of 1.2% while crude oil fell below $13 per barrel. … Read more
Two weeks ago, JPMorgan Chase bank announced it was tightening residential lending standards and a couple of days later that it was also temporarily halting new home equity loans. JPMorgan Chase stated both measures were to mitigate risks out of concerns housing prices may fall due to the pandemic, which is highly probable. While other … Read more
Stocks rallied in pre-market trading after falling in overnight trading as American investors continue to brush off discouraging economic data as they are hoping for a quick rebound of the economy in the coming months. Treasury yields were up slightly but weren’t sharing the enthusiasm being peddled by stocks. Durable goods orders missed expectations in … Read more
Despite 26.5 million jobs lost in the past five weeks, stocks started the day higher while Treasury yields headed lower. Investors are even bullish on crude oil, as prices rose in overnight trading. The bad news continues to be good news for investors as they continue to bet on a rapid turnaround of the global … Read more
Stocks and Treasury yields rose in overnight trading as buyers emerged for crude oil, giving the markets some optimism that the worst may be over. After tagging an intra-day low of $10.28 per barrel yesterday, crude oil was trading around $14 per barrel in pre-market trading. Mortgage applications fell -0.3% last week with purchase applications … Read more
Stocks and Treasury yields fell in overnight trading and after a brief spurt higher, both resumed their downward trends in early trading. Crude oil was hammered in overnight trading, which sent June WTI contracts down below $14 per barrel in early trading after a report showed 50.4 million barrels from Saudi Arabia will be delivered … Read more
Stocks and Treasury yields fell in overnight trading, but U.S. investors were bullish this morning and in a buying mood. Stocks shrugged off most of their overnight losses in early trading while Treasury yields held their overnight drop. Crude oil crashed in overnight trading, which is bad news for the domestic energy sector. After rallying … Read more