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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
Check below for free stories on NOSYMBOL the last two weeks.
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July 16, 2014
10:00 EDTThe 0.2% June U.S. industrial production rise matched our estimate
The 0.2% June U.S. industrial production rise matched our estimate, following offsetting revisions that left a 0.5% (was 0.6%) May pop. The May-June climb reflects rapid growth for mining, construction, and materials, though the June rise was restrained by a 0.3% utility drop and small 0.1% increases for business equipment and manufacturing, with a vehicle assembly rate downtick to 11.6 M from an 11.7 M cycle-high in May before a likely July pop to 12.1 M. Industrial production is poised for a 3% growth clip in Q3, following rates of 5.5% in Q2, 3.9% (was 4.5%) in Q1 and 4.9% in Q4 of 2013. Analysts have a surprisingly stable output climb despite big utility gyrations and a hit to the January factory sector from bad weather. More generally, analysts've seen 1%-9% quarterly rates since the start of the expansion. Analysts expect industrial production growth of 3.8% in 2014 after slower growth of 2.9% in 2013 but the same 3.8% in 2012.
09:45 EDTEuro$ interest rate options: a flurry of activity
Euro$ interest rate options: a flurry of activity accompanied the various data and stock market rebound, while more Fedspeak is due from Yellen, Williams and Fisher later at a 2:1 ratio of doves to hawks. Yesterday Yellen fired a shot across the bows of the exuberant tech sector, but that's already forgotten. Earlier there was a bearish sale of 5k in Red June 85 calls and a sale of 2k in Blue September 72/73 strangles (volatility). There was also a package, buying 10k in Green December 76/78 put spreads and selling Short December 86/88 put spreads. The September 2014 contract is a half-tick lower at 99.76, while the deferreds are 0.5-1.5 ticks lower.
09:45 EDTU.S. NAHB housing market index preview:
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09:40 EDTEarnings, more M&A lift market at open
Stock futures held in positive ground during pre-market trading thanks to solid earnings reports from some corporate bellwethers as well as some completed acquisition deals and a high-profile rejected one. Shares of Time Warner (TWX) led its media peers higher after the company confirmed a report that it had rejected a takeover offer from 21st Century Fox (FOXA). In addition to earnings reports and calls, investors have a host of economic reports to look at today. In early trading, the Dow is up 61 points, the Nasdaq is up 24 points and the S&P is up 9 points.
09:30 EDTFX Action: The dollar eased marginally
FX Action: The dollar eased marginally after the slightly softer production print, taking EUR-USD up 5 ticks to 1.3535 and USD-JPY to 101.70. Trade overall remains light, though the dollar has maintained its upward bias.
09:30 EDTTreasury Action: yields cooled off from highs
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09:25 EDTU.S. industrial production rose 0.2% in June
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09:15 EDTU.S. PPI (final demand) rose 0.4% in June with the core rate up 0.2%
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09:15 EDTU.S. Industrial Production Preview
U.S. Industrial Production Preview: June industrial production should reveal a 0.2% (median 0.3%) increase following the 0.6% gain in May, while capacity utilization is expected to hold steady at 79.1% (median 79.3%) from May. Employment data for June was firm with factory employment up 16k and mining employment up 4k.
09:10 EDTU.S. TIC data showed foreign accounts bought $35.5 B in net U.S. assets
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09:05 EDTThe 0.4% U.S. June PPI rise
The 0.4% U.S. June PPI rise with a 0.2% core price increase beat estimates thanks to a big 0.5% rise for goods prices and a firm 0.3% June service price increase. June PPI gains followed May declines of 0.2% for the headline and 0.1% for the core, but outsized 0.5%-0.6% gains over the prior two months for both measures. Goods prices have climbed 1.6% through the first half of 2014, while service prices rose by a solid 1.2% thanks mostly to large 0.6%-0.7% pops in March and April. On the old SOP basis, analysts saw a 0.7% headline PPI rise that followed a 0.1% May drop but the same big 0.7% increase in April. Analysts saw a 0.2% June SOS core price gain after gains of 0.1% in May and 0.3% in April. In July, analysts expect 0.1% PPI headline and core price increases. Today's price firmness defied core price weakness in yesterday's trade price figures, where analysts saw a similar oil price rise but a drop in prices for food. Analysts expect 0.2% June headline CPI and PCE chain price gains, with respective core price increases of 0.2% and 0.1%.
09:01 EDTTreasury International Capital Foreign Demand for Long-Term U.S. Securities data reported
May Treasury International Capital Foreign Demand for Long-Term U.S. Securities at $19.4B
09:00 EDTU.S. equities are in bullish mood
U.S. equities are in bullish mood in the wake of a better round of China GDP and production data, in line with government targets, and after NY Times reports of $80 B mega-merger talks between Fox and Time Warner. After a relatively tame core PPI reading that left the Dow 6222-points firmer, S&P up 8-points and NASDAQ over 26-point higher in pre-open trade. Stocks in Europe were also very bullish after a rebound in Portuguese banks following news that Banco Espiritu Santo may raise 2 B euros from shareholders, boosting Lisbon 2.75% and the Euro Stoxx 50 by 1.4%. In corporate and M&A news, Time Warner shares surged 20% after reportedly turning down an $80 B Fox offer. BofA slipped after an earnings miss, while IBM rallied 2% after a deal with Apple to bundle its applications on iPhones and iPads geared toward businesses. Yahoo missed and fell over 3.5% as a result. Intel surged 5% after beating estimates and adding $20 B to its stock repurchase plan. TIC data, industrial production, Beige Book, NAHB and Fedspeak are all still due.
08:55 EDTU.S. TIC net inflows preview:
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08:45 EDTU.S. PPI (final demand) rose 0.4% in June with the core rate up 0.2%
U.S. PPI (final demand) rose 0.4% in June with the core rate up 0.2%. There were no revisions to May data that showed a 0.2% headline decline and a 0.1% dip in the ex-food and energy component. Goods prices increased 0.5% last month after dropping 0.2% in May, with energy prices rebounding 2.1% and food prices falling 0.2%. Services costs increased 0.3% versus May's -0.2% with trade prices rising 0.2% and transportation/warehousing costs up 0.3%.
08:40 EDTCantor to hold a data center analyst/industry conference call
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08:40 EDTFX Action: The dollar ticked up ever so slightly
FX Action: The dollar ticked up ever so slightly following the hotter than consensus headline PPI print, and the in-line core reading. EUR-USD eased a few points to intra day lows of 1.3526, as USD-JPY inched to 101.79 highs. Equity futures have held their bid, while Treasury yields firmed a touch.
08:40 EDTTreasury Action: yields backed up
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08:35 EDTFedspeak resumes with another round of policy testimony
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08:33 EDTFutures remain higher following producer prices report
Stock futures remain higher following the release of the producer prices report. The data showed that prices rose 0.4% overall versus expectations of an increase of 0.2%. The core reading, which removes food and energy, rose 0.2% versus expectations of an increase of 0.2%.
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