All posts by Michael Comeau
T3’s Market Wrap: Yet Another Blockbuster Earnings Season?
First-quarter earnings season was so good that it looked nearly impossible to top. It turns out the second quarter is looking pretty darn impressive too. Shares of Morgan Stanley (MS) surged after tthe bank reported better-than-expected earnings. It was good to see a bank getting rewarded for good results since earnings reactions have been all over […]
Continue Reading -->T3’s Market Wrap: Banks Boom on Earnings in Shaky Market
Banks took a hit Friday after earnings. But the sector bounced back big time today on a solid earnings beat from Bank of America (BAC), which benefited from strong trading revenue and a lower tax rate. Asset manager BlackRock (BLK) also reported stronger-than-expected results. However, the company said inflows have slowed due to rising investor uncertainty. That could point […]
Continue Reading -->T3’s Market Wrap: The Trade War of Words Gets More Confusing by the Day
Global markets rebounded quickly from yesterday’s trade-driven confusion. China’s Shanghai Composite zoomed up 2.2% after the country’s Commerce Ministry appeared to back down a bit from its promises of retaliation against US tariffs. According to Bloomberg News: Commerce Ministry spokesman Gao Feng said the government will take “necessary” steps to hit back, but when pressed he […]
Continue Reading -->T3’s Market Wrap: What If the Trade War Is Really Real?
Stocks took some lumps today after President Trump threatened tariffs on another $200 billion worth of Chinese imports. China’s Commerce Ministry said it was “shocked at the US action” at the announcement, and that “China’s government is, as in the past, forced to retaliate.” Interestingly, economists from banking giant UBS said this today: “We were wrong; […]
Continue Reading -->T3’s Market Wrap: Russell 2000 Scores Another Record High Before a Dip
The Russell 2000 squeezed out another all-time high this morning at 1708.56 as stocks continue to seemingly ignore the US-trade rift. However, the Russell came off its highs quickly and finished down -0.5%. The S&P 500 managed to post a modest gain. Energy stocks were in charge again as crude oil cruised higher again, with oil service […]
Continue Reading -->T3’s Market Wrap: Trade Wars, No Big Deal
Today, the United States slapped tariffs on $34 billion worth of Chinese imports today. And China responded with tariffs on $34 billion worth of US imports like cars, soybeans, and lobsters. President Trump also told reporters that the US could slap tariffs on another $500 billion worth of Chinese goods. That had US stocks in […]
Continue Reading -->T3’s Market Wrap: Making Nice With Europe
It looks like the trade war of words is easing up a bit, at least for now. The Financial Times reported that European Union officiales are considering holding talks on a tariff-cutting agreement to prevent a trade war with the US. The news sent European stocks, particularly those of automakers, up nicely. US stocks followed […]
Continue Reading -->T3’s Market Wrap: Stocks Rock Back and Forth Ahead of the Holiday
Stocks are still rocking back and forth as traders content with the impact of the so-called trade war with China and a host of geopolitical and economic issues. US stocks were strongly early, following through from a great start in Europe, but they gave back ground during today’s holiday shortened session. The issues traders are […]
Continue Reading -->T3’s Market Wrap: Global Tensions Are on the Rise, and So Are Stocks
US stocks fell modestly in early trading after a headline-filled weekend. They later ramped hard into the close, led by the ‘RussellTech’ complex. RussellTech is my pet name for the Russell 2000/Tech/Biotech combo that led the market in May and June. In Mexico, far left candidate Andrés Manuel López Obrador won the Presidency in a landslide victory. […]
Continue Reading -->T3’s Market Wrap: Momentum Stocks Get Confused by the Trade War of Words
The bulls are still fighting the so-called trade war of China. They got a little help from President Trump, who said he will use the Committee on Foreign Investment in the United States (CFIUS) panel to assess Chinese acquisitions of US technology. This would appear to replace blanket restrictions on dealings with China, and marks an […]
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