Author: Stephen Innes

Stephen Innes
Stephen Innes

feedback or questions?

Include your name, the article headline and your message.

EMAIL THE AUTHOR

FOLLOW ELSEWHERE

Recent and archived work by Stephen Innes for The Bull:

US dollar falls to a three-week low

The US dollar fell to three-week lows overnight after a well-telegraphed beat in the US inflation data failed to move the US Federal Reserve’s policy normalisation dial. FX traders are deferring the Fed’s call for lift-off later rather than sooner. The Johnson & Johnson imminent vaccine suspension might have helped that view by possibly pushing…

Tech sector leads US stocks higher

The S&P500 hit a record high overnight and the Nasdaq composite index jumped as investors flocked to tech-related stocks and took the well-telegraphed inflation ‘pick-up’ in stride. Markets remain seemingly unfazed by the halt in Johnson & Johnson’s (J&J) COVID-19 vaccine rollout. Inflation came in hotter than expected in March, as the closely-scrutinized data out…

Investors expect more tailwind for stocks

After a solid Monday and ahead of key earnings reports where profit growth is expected to push the stock markets recovery bus forward, stocks veered into a late session very mild profit-taking mode as investors turn slightly less inspired. It’s more of a wait and see, ahead of a week that promises no shortage of…

US dollar bounces a little

The US dollar is opening with a slight bounce in its step this morning. In the absence of any headlines, it appears more transactional than anything and could be little more than a macro funds pre-US CPI order get put in the execution machine. US Treasury Secretary Yellen realizing that calling China a currency manipulator…

Stocks surge as earnings season kicks off

After stocks surged into the New York close on Friday, profit-taking seems to be the early gates trade. While long-duration stocks look set to drift into the highly anticipated earnings season and keen US CPI print. With earnings season set to kick off this week, investors prepared by snapping up stocks at a fast and…

S&P500 hit new record highs

US equities were stronger overnight with the S&P500 hitting fresh record highs. As US 10-Year yields fell, stock market bulls remained in full control thanks to US Fed Chair Powell, who is now recognized as the markets’ ultimate soothsayer. Sometimes you have to throw conventional wisdom out the door and let the good times roll….

US equities move sideways

In an echo of yesterday’s morning note, it’s not unusual for the market to pause at record highs, even more so as the S&P moves towards its upper reaches, hinting investors could be exhausted from chasing strength. But more poignantly, they likely need a little more confirmation at precisely what stage of the recovery we…

Investors welcome President Biden’s $2 trillion infrastructure plan

US President Biden began selling his infrastructure proposals today, and by all accounts, it went over exceedingly well. Investors first applauded then gobbled the array of equity market delectables on offer, spurred on by the once in generational spending splurge that continues to the tune of a massive $2 trillion ticket price. And bullishly that…

US stocks slip overnight

US equities slipped again overnight despite a rebound in financial stocks while US 10-Year yields finished the session steady at 1.71%. Over the past 24 hours, both Germany and Canada have restricted the AstraZeneca vaccine’s use: to be used on people over 60 in Germany and over 55 in Canada. In both countries, the decision…

US dollar gains more strength

I suspect markets will continue a two-pronged trade view in FX: to stay long USD vs vulnerable low-yielders where a dovish central bank is likely to keep rate divergence in play; and to stay positioned for the global recovery via only selective high beta FX funded out of EUR, CHF or JPY and avoiding the…