Copper

Global Stocks Jump, Dow Futs At New All Time Highs As Brexit Talks Begin

S&P futures rose 0.3% in subdued trading with Dow Jones futs once again in record territory as European stocks jump 0.6% following Sunday's landslide victory for Macron's party in the French parliamentary elections and as Brexit negotiations are set to officially roll out on Monday.

Quiet Start To Quad Witching: Stocks Rebound Around The Globe, BOJ Hits Yen

Today is quad-witching opex Friday, and according to JPM, some $1.3 trillion in S&P future will expire. Traditionally quad days are associated with a rise in volatility and a surge in volumes although in light of recent vol trends and overnight markets, today may be the most boring quad-witching in recent history: global stocks have again rebounded from yesterday's tech-driven losses as European shares rose 0.6%, wiping out the week's losses.

Global Markets Rebound As Tech Rout Ends; Sterling Rises

As the Fed begins its two-day meeting, global stocks have recovered their footing and European shares rise, led by a bounce in tech stocks as last Friday's global selloff that started in the sector shows signs of abating. Asian stocks and U.S. futures gain as investors turn their attention to today's Jeff Sessions testimony as well as tomorrow's barrage of macro data including Yellen, CPI and retail sales.

"Tech Wreck" Goes Global Dragging Worldwide Markets Lower; Cable, USDJPY Slide

Following Friday's "tech wreck" European equity markets have opened lower, with the Stoxx 600 sliding back under the 50DMA for the first time since December, mirroring Asian markets as Friday’s "FAAMG" volatility in U.S. markets spreads globally. European banks lag as the Spanish regulator stepped in to prevent another bank collapse, this time of LiberBank which we profiled yesterday, by banning short-selling in the regional commercial bank to mitigate Popular-related contagion.

FX Week Ahead Preview: Focus Returns To The US Economy As Politics Run Riot Once Again

FX Week Ahead: Focus returns to the US economy as politics have run riot once again. Theresa May clearly made a big mistake in calling the snap election, and the Pound has suffered accordingly. It is a key week for central banks next week, headlined by the FOMC meeting on Wednesday, which is widely expected to result in a 25bp rate hike as the Fed maintain course for ‘normalisation’. 

More Solar Jobs Is A Curse, Not A Blessing

Citing U.S. Department of Energy data, the New York Times recently reported that the solar industry employs far more Americans than wind or coal. This is supposed to be a good thing, according to the Times. In reality, it’s not a good thing at all, and certainly not a positive trend. In fact, the job numbers actually underscore how wasteful, inefficient and unproductive solar power actually is.

Gold Surges, Global Stocks Slide As "Super Thursday" Risks Loom

With traders realizing that the "Thursday Turmoil Trifecta" looms, world stocks dropped and safe-haven assets rose as investors focused on the growing tension in the Middle East, while caution spread across markets in a week full of risk events including James Comey’s congressional testimony to the ECB’s policy meeting and Britain’s increasingly uncertain election, all in the span of 24 hours. As a result, European and Asian stocks as well as S&P futures all fell, while gold, yen and Treasuries gained.

Qatar Crashes In Escalating Gulf Crisis; Oil Fails To Rebound As Global Stocks Dip

S&P futures point to a slightly lower open ahead of today's US non-mfg ISM and Service PMI data. European shares fall, while Asian shares are little changed. Several European countries are closed for Whit Monday leading to subdued trading. Following the latest unexpected Gulf Crisis overnight, in which Gulf nations cut all diplomatic relations with Qatar amid stunning allegations of funding terrorism, oil spiked but has since pared almost all gains.

Reuters Goes To China, Discovers "Ghost Collateral"

"The first time I went, I saw the steel,” recalled Wang, an attorney at Beijing DHH Law Firm, which represents the Shanghai branch of CITIC. "Afterwards, the banker got in contact with me and said, ‘The pledged assets are no longer there"