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Stock Market & Financial Investment News

News Breaks
November 10, 2012
08:15 EDTConsumer Price Index CPI to be reported at 08:30
October Consumer Price Index CPI will be reported at 08:30 . Current consensus is 0.1% for the month
News For NOSYMBOL From The Last 14 Days
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August 13, 2015
09:55 EDTFed Policy Outlook: the FOMC is still on course to hike in September
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09:46 EDTBloomberg Consumer Comfort Index Level data reported
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09:45 EDTU.S. trade prices revealed big July core price declines,
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09:35 EDTEuro$ interest rate futures are retracing their steps
Euro$ interest rate futures are retracing their steps heading lower after the sharp risk premium relative to the China devaluations abates. Soothing words from China authorities have calmed the equity market for now and this has tempered gains on the short-dated rate contracts. Firmer retail sales data also helps keep the Fed on track, though trade prices revealed little inflation pressure. The December 2015 contract is 2-ticks lower near 99.46 (0.54% implied) compared to yesterday's peak near 99.505 (0.495%). The deferreds are 2-6-ticks lower out the curve.
09:20 EDTThe U.S. retail sales report beat expectations
The U.S. retail sales report beat expectations with firm July retail sales gains after broad-based upward revisions for May and June, as the consumer is now recovering after a surprisingly weak Q4-Q1 performance. Analysts raised our expected boost for Q2 GDP growth to 3.3% from 3.0%, versus a 2.3% advance figure, and though analysts left our Q3 GDP estimate at 3.0%, analysts raised our Q3 real consumption growth forecast to 3.3% from 2.8%. The Q2 GDP growth boost reflects an $11 B hike in Q2 real consumption alongside additional boosts of $17 B for construction, $2 B in wholesale inventories, $8 B for factory inventories, and $2 B for net exports. Our 3.0% Q3 real GDP forecast incorporates an estimated 3.3% (was 2.8%) growth clip for real consumption, following an estimated Q2 consumption growth rate of 3.3% (was 2.9%). Analysts assume a 0.4% (was 0.3%) July nominal PCE rise with a 0.3% (was 0.2%) "real" gain and a 0.1% PCE chain price rise that matches our July CPI estimate. The business inventory report later this morning will reveal a 0.2% June sales rise after a 0.4% May increase. Today's retail sales data are consistent with a 0.2% business sales rise in next month's July report.
09:10 EDTFX Action: USD-CAD is up 100 points
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09:05 EDTU.S. July retail sales rose 0.6% and were up 0.4% excluding autos
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09:05 EDTU.S. equities shed earlier gains
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08:58 EDTFutures remain higher following jobless claims, retail sales data
Stock futures remain above fair value following the release of retail sales and jobless claims data. The data showed retail sales grew 0.6% in July, matching expectations. When autos and gas are removed, the core reading was up 0.4%, also as expected. Initial jobless claims were 274,000, versus expectations for 270,000 first-time claims last week. Continuing claims were 2.27M, versus a forecast of 2.24M.
08:55 EDTU.S. import prices dropped 0.9% in July, with export prices off 0.2%
U.S. import prices dropped 0.9% in July, with export prices off 0.2%. June's 0.1% dip in import prices was revised up to unchanged, and the 0.2% export decline was bumped down to -0.3%. For imports, petroleum prices declined 5.9 % and are down 43.4% y/y. Excluding petroleum, import prices dipped 0.3%. Industrial supply prices fell 3.1%. Foods/beverages were flat. Import prices with Canada plunged 1.7% and were down 0.2% with China. For export prices, agriculture rebounded 0.8% after months of declines. Ex-agriculture, export prices fell 0.4%.
08:50 EDTThe 5k U.S. initial claims rise to 274k
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08:50 EDTTreasury Action: yields probed highs
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08:50 EDTFX Action: The dollar rose
FX Action: The dollar rose after the mix of data, where retail sales were in-line with expectations, jobless claims were slightly higher than forecasts, and import prices fell slightly less than anticipated. EUR-USD fell to intra day lows of 1.1091 from over 1.1030, as USD-JPY made session highs of 124.60, up from under 124.50. Stock futures are slightly above flat, as yields moved to session highs.
08:50 EDTU.S. July retail sales rose 0.6% and were up 0.4% excluding autos
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08:45 EDTU.S. initial jobless claims rose 5k to 274k in the week ended August 8
U.S. initial jobless claims rose 5k to 274k in the week ended August 8, from a revised 269k the week before (was 270k). That brought the 4-week moving average to 266.25k versus 268k (revised from 268.25k). Continuing claims were up 15k to 2,273k for the August 1 week versus 2,247k previously (revised from 2,255k).
08:30 EDTEnergy Action: NYMEX crude remains within reach
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08:20 EDTU.S. Retail Sales Preview
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08:20 EDTU.S. Import and Export Prices Preview
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08:20 EDTU.S. initial jobless claims preview:
U.S. initial jobless claims preview: jobless claims are expected to rebound 11k to 281k (median 272k) in the week-ended August 8. Continuing claims are expected to fall to 2,254k for the week-ended August 1. Forecast risk is upward, as auto retooling could further distortions. As discussed in our June 30th commentary analysts expect balanced risk during the retooling period despite volatility, as analysts saw with the big spike in the first week of the month followed by a dip. preview for more.
08:05 EDTN.Y. FX Outlook
N.Y. FX Outlook: The dollar rallied overnight, as China slowed, and explained its recent devaluation regimen, with the PBoC saying there was no basis for more yuan depreciation. While this remains to be seen, for now at least, markets took the news at face value, allowing the dollar to rebound, and risk assets to turn higher. EUR-USD fell over 100 points from Wednesday's highs, touching 1.1100 lows, as USD-JPY rallied to 124.59. USD-CAD reclaimed the 1.30 handle, after plunging more than 200 points yesterday, as oil prices continued to threaten the $42 handle. The U.S. calendar reveals July retail sales, weekly jobless claims, and July import and export prices, all at 8:30 EDT, followed by June business inventories at 10:00 EDT.
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