Daily Comment
Daily Comment (July 20, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] There is a lot going on. Let’s dig in: The president speaks: For the most part, President Trump has been opposed to a weak dollar. At Davos this year, Treasury Secretary Mnuchin suggested a weaker dollar might be in U.S. interests if the goal was a… Read More »
Daily Comment (July 19, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Global equity markets are lower this morning. The EuroStoxx 50 is down 0.3% from the last close. In Asia, the MSCI Asia Apex 50 was down 0.2% from the prior close. Chinese markets were down, with the Shanghai composite down 0.5% and the Shenzhen index down… Read More »
Daily Comment (July 18, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equity markets are quiet this morning; the biggest market moves are in currencies and commodities. The dollar is up this morning in the aftermath of the Powell testimony, which is dragging commodities and emerging markets lower. Here is what we are watching: Google fined: Google (GOOG,… Read More »
Daily Comment (July 17, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Tonight’s midsummer classic, the All-Star Game, is really the official midpoint of summer. Markets are quiet this morning. Here is what we are watching: Did the president go too far? Criticism of President Trump’s performance at the press conference with Russian President Vladimir Putin was widespread. … Read More »
Daily Comment (July 16, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Monday! The media is focused on the Trump/Putin meetings in Helsinki but financial markets are mostly ignoring the spectacle. The biggest major market move is in oil, which we discuss below. Here is what we are watching this morning: China GDP: China’s Q2 GDP[1] rose… Read More »
Daily Comment (July 13, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equity markets are mixed this morning as investors balance expectations of stronger earnings and rising trade tensions. The British pound fell due to political uncertainty and the dollar has strengthened against global currencies. Below are the news stories we are following today: No U.K.-U.S. trade deal?… Read More »
Daily Comment (July 12, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equity markets have rebounded following signs that the U.S. and China will likely resume trade negotiations. Oil prices have also stabilized following the bullish EIA report—yesterday oil prices fell 7% following reports that Libya would resume shipments. Below are the stories we are following today: NATO… Read More »
Daily Comment (July 11, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equity markets are lower due to concerns of global trade tensions. Below are the issues that we are paying close attention to today: NATO summit: In the opening hours of the NATO summit, President Trump sparked controversy by criticizing Germany’s relationship with Russia and its unwillingness… Read More »
Daily Comment (July 10, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Leadership challenge in the U.K.? Yesterday’s resignations of both Boris Johnson and David Davis have raised concerns of a possible Tory leadership challenge against U.K. Prime Minister Theresa May. Tory Eurosceptics have criticized PM May’s handling of Brexit negotiations for not doing enough to cut… Read More »