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Morning Bid: Trump tariff threat jolts Canadian dollar, peso, yuan​

November 26, 2024

A look at the day ahead in U.S. and global markets from Mike Dolan

Any speculation that U.S. President-elect Donald Trump would adopt a 'softly, softly' approach to his trade and economic policies was jolted overnight as he warned of immediate tariff hikes on Canada, Mexico and China - hitting the currencies of all three.

Trump, who takes office on Jan. 20, said he would impose a 25% tariff on imports from Canada and Mexico on day one until these countries clamp down on drugs, particularly fentanyl, and undocumented migrants crossing the border. The move would appear to violate a free-trade deal with both countries that he negotiated during his first White House term.

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Stocks rise Tuesday, Dow and S&P 500 close at records: Live updates​

Stocks rose on Tuesday, with the S&P 500 and the Dow Jones Industrial Average jumping to fresh highs, as investors shook off the threat of new tariffs from President-elect Donald Trump.

The blue-chip Dow advanced 123.74 points, or 0.28%, to close at 44,860.31, reversing course after dropping more than 300 points at session lows. The S&P 500 added 0.57% to 6,021.63. Both the Dow and S&P 500 notched new intraday and closing records. The Nasdaq Composite jumped 0.63% to 19,174.30.

Trump on Monday night called for a 25% tariff on products from Mexico and Canada, as well as an additional 10% levy on Chinese goods. He has already said he would impose a tariff of up to 20% on all imports, and an additional duty of at least 60% on products from China.

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Stock futures are little changed as Wall Street awaits Fed’s preferred inflation reading: Live updates​

U.S. stock futures were little changed on Wednesday as traders await the release of the Federal Reserve’s favorite inflation gauge.

Futures tied to the Dow Jones Industrial Average slipped 11 points, or 0.02%. Meanwhile, S&P 500 futures flickered fell 0.1%, while Nasdaq-100 futures dipped 10.3%.

The personal consumption expenditures price index (PCE) is set for release at 10 a.m. ET. Economists polled by Dow Jones expect a year-over-year increase of 2.8% for the core reading, which excludes food and energy. Investors will look through the data for indications on how the Fed may proceed on its rate policy at its December meeting.

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Black Sea tensions and trade deals cloud U.S. commodity prices | Weekly Commodity Market Update​

Nov 26, 2024 #agriculture #news #markets

This week Will and Ben reflect on further developments in the Black Sea region and a new trade deal between China and Brazil.

13:48
 

Copper Steady, Steel Softens: Thanksgiving Scrap Metal Market Report​

Check Scrap Prices: https://iScrapApp.com/ - Happy Thanksgiving from the iScrap team! This week’s report dives into market stability during the holiday season, with insights on copper, steel, and other key metals. Learn what’s driving the market and how to plan for the end of the year.
Read more: https://iscrapapp.com/blog/weekly-scr...

12:41
 

Shares of key chip suppliers jump as U.S. reportedly considers toned-down China curbs​

  • Shares of key global semiconductor equipment firms jumped on Thursday after a report that the U.S. is considering sanctions on China’s chip industry that stop short of earlier proposals.
  • ASML was around 3.6% higher in early trade in Europe. Tokyo Electron was up more than 6% in Japan, where it trades.
Shares of key global semiconductor equipment firms jumped on Thursday after a report that the U.S. is considering sanctions on China’s chip industry that stop short of earlier proposals.

ASML was around 3.6% higher in early trade in Europe. Tokyo Electron was more than 6% higher in Japan where it trades.

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Fearnleys Week 48

World Container Index - 28 Nov

28 Nov 2024: Drewry’s World Container Index decreased 2% to $3,331 per 40ft container this week.
www.drewry.co.uk

Baltic Exchange Dry Index - Price - Chart - Historical Data - News

Baltic Dry decreased 675 points or 32.24% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Baltic Exchange Dry Index - values, historical data, forecasts and news - updated on November of 2024.
tradingeconomics.com
 

Dow jumps nearly 200 points to record in short session, S&P 500 posts best month of 2024: Live updates​

The Dow Jones Industrial Average and S&P 500 rose to new heights on Friday amid a shortened trading day that capped a strong month for equities.

The S&P 500 added 0.56% to 6,032.38, while the Nasdaq Composite jumped 0.83% to 19,218.17.The Dow climbed 188.59 points, or 0.42%, to end at 44,910.65. Both the Dow and S&P 500 notched new intraday and closing highs.

Some of the upward momentum came from chip stocks, which popped after Bloomberg reported that the Biden administration was considering additional barriers on the sale of semiconductor equipment to China that weren’t as strong as previously expected. Lam Research rallied more than 3%, while Nvidia jumped more than 2%. The iShares Semiconductor ETF (SOXX) added 1.3%.

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For big-box retailers, one of the longest-running experiments is shrinking​

  • As big-box retailers focus on providing to the consumer shopping experiences in multiple formats, Ikea is the latest to add smaller-footprint stores.
  • The idea is not new: Target, Macy’s, and Nordstrom have all added smaller square-foot locations in recent years; Walmart debuted its Express store over a decade ago; and the last remaining Kmart in the U.S. is a smaller format store.
  • Data show the concept can pull in a more affluent demographic, but in some cases it’s more a case of location needs and targeted expansion strategies.
As shoppers search for deals this holiday season in an environment where less in price is more for many consumers, more Americans may find the square footage they visit in retail matching this “reduction” mantra.

Ikea is known for its behemoth blue and yellow big box footprint, often sprawling to 300,000 square feet in suburbia. But when they opened an 8,800-square-foot store in Gaithersburg, Maryland, earlier this year, they joined the latest in a long line of retailers to embrace a smaller-is-bigger strategy. Target, Macy’s, Nordstrom, and others have experimented with small format stores over the past decade. Kmart’s lone remaining U.S. outpost in Miami is a third of the size of its once dominant big boxes.

Chain store experiments with smaller formats go back to at least 2011, when Walmart introduced a “Walmart Express” concept to compete with dollar stores, but shelved the format five years later. Walmart has continued to open smaller format Neighbor Market concepts.

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Rob McEwen - These Commodities Will Be On Everyone's Radar​

Dec 1, 2024 #Singapore #RobMcEwen #PatrickVierra

Rob McEwen from McEwen Mining joins Patrick Vierra in a chat about the economy, precious metals, the health of the miners, and the challenges they face. Regulations, nationalization and demand outpacing supply are just some of the topics discussed as these are but some of the challenges miners face. Opportunities are here.

40:01

Discussed in this interview:
00:00 Introduction
02:03 Current Trends in Gold Prices
06:16 U.S. Debt, Inflation, Manufacturing Competitiveness
08:46 Global Currency Concerns
13:52 Confiscation of Assets, U.N. Falling Apart, Sovereignty
17:50 The Health of the Miners and Copper Demand
23:20 Can Copper Keep Up With the Electrification of Everything?
32:30 Updates and Info on McEwen Mining
 

Dow and S&P 500 notch best months of the year: Live updates​

Stock futures were little changed Sunday night as investors looked toward the final month of trading this year.

Futures tied to the Dow Jones Industrial Average slipped 11 points, trading near flat. S&P 500 futures and Nasdaq 100 futures were also both little changed.

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S&P 500 futures are little changed after benchmark notches best month of the year: Live updates​

S&P 500 futures are slightly lower Monday morning as investors looked toward the final month of trading this year.

S&P 500 futures were trading near flat, while futures tied to the Dow Jones Industrial Average slipped 31 points. Nasdaq 100 futures added less than 0.2%.

Shares of Tesla gained 2% in premarket trading following an upgrade to buy from neutral at Roth MKM, with the firm citing as a catalyst Musk’s close relationship with President-elect Donald Trump. Bitcoin, which traded near $99,000 on Friday, retreated to around $95,000 on Monday as investors were in a bit of a risk-off mood to start the month.

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January feeder cattle futures up $4.80 on the week | Weekly Livestock Market Update​

Dec 2, 2024 #agriculture #news #markets

In this Weekly Livestock Market Update from Thanksgiving week, Brownfield's Meghan Grebner talks with livestock economist Scott Brown about Cold Storage numbers, Quarterly Trade Outlook, and Restaurant Performance Index.

15:09
 

Commodities trading giant Cargill plans to cut around 8,000 jobs​

(Reuters) -Global trading house Cargill said on Tuesday it plans to cut around 5% of its staff, or about 8,000 jobs after revenue slumped in its most recent fiscal year as crop prices hit multi-year lows.

Agricultural merchants including privately held Cargill are under pressure as prices of the commodity crops they trade, such as wheat, corn and soybeans, have dropped to near four-year lows and crop processing margins have shrunk.

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https://www.msn.com/en-us/money/com...S&cvid=9374b1f02596440b983723e8fc68f1e6&ei=42
 

S&P 500 futures are little changed after index closes at a record: Live updates​

Stock futures were little changed early Tuesday after the S&P 500 concluded the first session of December’s trading month at an all-time closing high.

Futures for the S&P 500, Nasdaq 100 and the Dow Jones Industrial Average were all flat after a mixed session on Wall Street.

While the broad S&P 500 and technology-heavy Nasdaq Composite closed at records on Monday after hitting fresh intraday highs, the Dow ended more than 100 points, or about 0.3%, lower. That is despite the blue-chip index at one point topping the closely watched 45,000 level during the day.

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