Dollar Failing to Ride on Hawkish Fed and Surging Yields
It was a roller coaster ride as traders came back for the new year. Markets were in full risk-on mode as worries over Omicron faded. Yet, sentiment turned after more hawkish than expected FOMC minutes. Major stock indexes were than...
Weekly Economic & Financial Commentary: Strong Momentum Prior to Omicron, Despite December’s Soft Payroll Print
Summary United States: Strong Momentum Prior to Omicron, Despite December’s Soft Payroll Print The Fed’s more hawkish tone in December’s FOMC minutes set the tone for financial markets this week, overshadowing the record surge in COVID infections. December’s jobs data...
The Weekly Bottom Line: Supply Chain Strains Show Signs of Easing
U.S. Highlights The U.S. economy kicked off the New Year with an unprecedented surge in COVID-19 cases. While a return to lockdowns is not expected, rising cases could lead to greater absenteeism, as workers self-isolate due to exposure, putting pressure...
Forward Guidance: Omicron Spread to Pause Canada’s Economic Recovery
A quiet economic calendar for Canada next week will keep the focus on virus developments. Provincial governments have re-introduced measures to slow virus spread, including mandated closures of high-contact services like restaurant dining rooms and gyms in Ontario and Quebec....
Stocks making the biggest moves midday: Discovery, GameStop, T-Mobile and more
These are the stocks posting the largest moves in midday trading.
GameStop shares surge as much as 20% after news it plans to launch an NFT marketplace
A person wearing a protective mask exits from a GameStop Corp. store at a mall in San Diego, California, on Thursday, April 22, 2021. Bing Guan | Bloomberg | Getty Images GameStop shares jumped on Friday after news that the video...
Citigroup will terminate unvaccinated workers by Jan. 31, a first among Wall Street banks
Pedestrians cross a road in front of a Citigroup Citibank branch in Sydney, Australia, on June 1, 2018. Brendon Thorne | Bloomberg | Getty Images Citigroup will be the first major Wall Street institution to enforce a vaccine mandate by...
Here’s where the jobs landed — in one chart
The leisure and hospitality sector led hiring in December as restaurants added wait staff, cooks and bartenders ahead of the holidays.
Week Ahead – US Inflation Report to Decide Dollar’s Fate
The new year has kicked off with a sharp spike in yields, which has turbocharged the US dollar but demolished the Japanese yen. Whether this trend persists will depend on next week’s US inflation report, as that could decide whether...
No Decisive Reaction to Mixed NFP, Dollar Staying Firm
At the time of writing, markets are still figuring out how to react to the mixed US non-farm payroll data. While the headline job grow was very disappointing, unemployment rate improved. More importantly, wages reported another month of strong growth....