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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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May 29, 2015
09:35 EDTTreasury Action: Treasury yields remain lower
Treasury Action: Treasury yields remain lower on the combination of the downward revision to GDP, month-end buying, and amid the rally in overseas bonds. The 10-year rate has fallen to 2.10%. The composition of GDP revisions do suggest a modestly slower Q2 growth pace than originally forecast and analysts lowered our estimate to a 2.2% pace from 2.5%. Of course the Fed needs to see a decent rebound from Q1 weakness to support their claim that that the downdraft was mostly "transitory," and so cuts to the outlook could damp expectations for a September rate hike. Meanwhile, month-end buying is also being supported by the advent of the weekend, with next week's calendar providing a lot of risks with respect to Greece, data (including the May jobs report), and an ECB meeting. Note too the month-end extension was revised higher to 0.14 years from the prior estimate of 0.13 years. The German Bund yield is 3 bps lower at 0.50% again for the first time since May 8.
09:25 EDTU.S. Chicago PMI preview:
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09:10 EDTU.S. Q1 GDP growth was revised lower to -0.7% pace
U.S. Q1 GDP growth was revised lower to -0.7% pace versus a 0.2% pace in the Advance report, and it compares to a 2.2% clip from Q4. That's not quite as weak as forecast. For the latest report, consumption was nudged lower to 1.8% versus 1.9% previously, and is down from a 4.4% Q4 rate. Fixed investment was bumped up to -1.3% versus -2.5% previously thanks to a 2.8% drop in nonresidential activity, versus -3.4% previously, as structures fall 20.8% compared to -23.1% (in large part due to shrinking rig counts in the oil industry). Residential construction was boosted to a 5.0% pace from the prior 1.3%. Government consumption was revised lower to -1.1% from -0.8%. Inventories added $15.0 B, have of the original $30.3 B contribution. Net exports subtracted $77.0 B versus -$50.7 B. The chain price index was steady at -0.1% previously, and is down from Q4's 0.1% and Q3's 1.4% rate. The core rate posted a 0.8% rate from 0.9% previously, and versus 1.1% in Q4 and 1.4% in Q3.
09:10 EDTThe downward U.S. Q1 GDP growth bump to -0.7%
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09:05 EDTEuro$ interest rate futures are firming
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08:50 EDTFutures edge lower following GDP report
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08:50 EDTFX Action: USD-CAD popped from near 1.2440 to 1.2519
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08:45 EDTTreasury Action: yields zagged lower
Treasury Action: yields zagged lower after the downward revision of Q1 GDP came in slightly above low expectations. The benchmark T-note yield dipped to 2.12% session lows from the 2.13% area after a very tight overnight range, while stocks remain in shallow negative territory and the dollar perked up a tad. The 2s-10s spread remains inside +150 bp.
08:45 EDTU.S. Q1 GDP growth was revised lower to -0.7% pace
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08:40 EDTFX Action: The dollar rallied modestly
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08:21 EDTGuggenheim analysts hold an analyst/industry conference call
Analysts provide an update on Washington policies on an Analyst/Industry conference call to be held on May 29 at 11 am.
08:20 EDTU.S. GDP Preview
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08:18 EDTBarclays healthcare analysts hold an analyst/industry conference call
Healthcare Analysts provide an update on industry trends on an Analyst/Industry conference call to be held on May 29 at 10:30 am.
08:15 EDTEnergy Action: NYMEX crude touched $58.69 highs
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08:05 EDTU.S. equities are underwater
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07:50 EDTN.Y. FX Outlook
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07:50 EDTTreasury Market Outlook: Treasuries are little changed to modestly firmer
Treasury Market Outlook: Treasuries are little changed to modestly firmer but are underperforming gains across European and Asian sovereigns. Longer dated maturities are supported by month-end flows. The 10-year Treasury yield has edged down to a low of 2.11% and is on track for a small weekly gain. U.S. equity futures are lower in sync with declines in European bourses. Overnight news was mixed but Greek fears continued to dominate. German retail sales were better than expected, but U.K. confidence disappointed, while the Swiss economy unexpectedly contracted. Spanish and Italian HICP were firmer than forecast. But Japanese core CPI slowed slightly. Today's U.S. focus will be the revised Q1 GDP report. Also on the calendar are the May Chicago PMI and consumer sentiment reports. Meanwhile, next week's calendar includes a number of key reports, as is the typical to start the new month, with the May jobs report headlining Friday.
06:57 EDTFutures slightly higher ahead of GDP report
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06:14 EDTOn The Fly: Morning Wrap-Up for May 29
Globex S&P futures are recently down 2.20 from previous day’s SPX cash close. Nikkei 225 up 0.06%, DAX down 1.26%. WTI Crude oil is recently at $58.51, natural gas up 0.26%, gold at $1190 an ounce, copper up 0.05%.
06:06 EDTJune front month equity options last day to trade is June 19, 2015
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