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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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August 18, 2015
09:25 EDTHousing starts beat estimates in July
Housing starts beat estimates in July with a new cycle-high, though permits fell sharply in July after a steep Q2 climb that was fueled by robust figures in the multi-family segment and the Northeast. Both series are entering Q3 at encouraging levels after big Q1-Q2 weather gyrations, and the bellwether starts under construction series posted a hefty 2.0% July climb that signals a solid quarter for residential construction in the Q3 GDP report, where analysts now expect a 3.0% headline gain to be accompanied by a solid 9% clip for real residential construction. Analysts still expect a Q3 GDP growth boost to 3.5% from 2.3%, with boost of $2 B in residential construction, $5 B in nonresidential construction and $10 B in public construction. For other housing reports, analysts expect a 2.7% July new home sales rise to a 495k rate and a 1.6% existing home sales drop to a 5.40 M rate. Analysts expect a 0.5% July construction spending rise, alongside a 0.7% July construction hours-worked rise drop a 6k jobs rise for the sector.
09:25 EDTShort-dated euro$ interest rate futures tripped lower
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09:07 EDTBarclays industrials analysts hold an analyst/industry conference call
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08:55 EDTU.S. equities are back under pressure
U.S. equities are back under pressure in the wake of more than 6% losses on Chinese indices again, while doubts about Greece's fiscal situation have resurfaced. Housing starts surprised on the upside and helped trim deeper losses. Wal-Mart shares also sank over 3% after an earnings miss and lower guidance. Though still above lows, the Yuan turned more volatile again after a couple steadier sessions were interrupted by a slump to 6.4150 before stabilizing. Commodity and energy prices remain under pressure, compounding the woes in EM trade. The Shenzhen sank 6.2%, while the Shanghai Comp fell 6.15% and Japan's Nikkei closed 0.32% lower. In Europe, the Euro Stoxx 50 is 0.2% lower, while the UK FTSE is 0.5% lower after hotter inflation readings and Athens is off 0.8%. The Dow is 42-points lower, S&P sank 5-points and NASDAQ is off 11-points ahead of the opening bell, above earlier lows. Home Depot gained 1% after improved same-store sales, while Esperion rallied 12% on progress fast-tracking its cholesterol drug.
08:50 EDTTreasury Action: yields backed up to highs
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08:45 EDTFX Action: The dollar edged slightly higher
FX Action: The dollar edged slightly higher after the housing starts data, as EUR-USD made new N.Y. session low of 1.1045, and as USD-JPY moved up from near 124.20 to 124.33. Equity futures remain moderately underwater, while yields are above session lows.
08:40 EDTU.S. housing starts edged up 0.2% in July to a 1,206k pace
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08:35 EDTFutures continue to suggest lower open for broader market
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08:20 EDTTreasury Action: shorts more than doubled to 17
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08:15 EDTEnergy Action: October NYMEX crude
Energy Action: October NYMEX crude made trend lows overnight, printing $41.95, after making $43.20 highs in N.Y. trade on Monday. China's overnight stock market meltdown had a direct impact on commodity prices, as the growth outlook there continues to erode. RBOB gasoline meanwhile, is down 0.5%, posting $1.6425 lows, and down sharply from last week's $1.7725 peak. Natural gas prices hover near August lows, standing at $2.71/M BTU, as abundant inventories keep pressure on the contract.
08:10 EDTU.S. Housing Starts Preview
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08:00 EDTU.S. chain store sales dropped 1.9% in the week ended August 15
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08:00 EDTN.Y. FX Outlook
N.Y. FX Outlook: China's overnight stock drubbing took USD-JPY under 124.20, as safe haven yen flows weighed. EUR-USD meanwhile, remained under 1.1100, posting 1.1052 lows as differences emerge between the EU and IMF with regards to Greek debt. USD-CAD meanwhile, reclaimed the 1.31 handle, touching 1.3126, as September NYMEX crude fell to $41.43 lows. The soon to be front month contract October, touched a $41.95 base, a six-year low, as commodities fall on ongoing China concerns. Cable rallied over 1.5700 following firmer U.S. inflation data. The U.S. calendar reveals July housing starts at 8:30 EDT.
07:50 EDTTreasury Market Outlook: another drop in Chinese equities boosted bonds
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07:45 EDTTreasury Market Outlook: another drop in Chinese equities boosted bonds
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07:30 EDTU.S. lacks ammo for next economic crisis
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07:21 EDTCredit Suisse to hold a conference
3rd Annual Credit Suisse Andean Conference is being held in Sao Paulo, Brazil on August 18-19.
07:20 EDTMetro Memphis Hotel & Lodging Association to hold a summit
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06:55 EDTFX Update: The yen traded firmer
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06:25 EDTAnother bloodbath in Chinese equity markets
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