I guess that good feeling that the market had finally let us all know what the probable path was had an expiration date of 12 hours! Wednesday's declines were engulfed by today's rallies.

For the roughly 90% of S&P 500 companies that have reported Q2 results, total earnings are up +10.6% from the same period last year on +5.2% higher revenues, with 79.8% beating EPS estimates and 59.2% beating revenue estimates.

The USD/CAD pair trades with mild gains near 1.3740, snapping the five-day losing streak during the early Asian session on Friday.

US stocks took off like “ Falcon Heavy” on Thursday, sky-rocketing up the charts after a whiff of surprisingly good news from weekly initial jobless claims hinted at a much better-than-expected US labour market.

The stock market appeared confused this morning, reacting to the weekly jobless claims and continuing claims data as if the CPI report had come in 0.4% cooler than expected.