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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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January 22, 2016
18:26 EDTChicago PMI Business Barometer Index to be reported at 09:45
January Chicago PMI Business Barometer Index will be reported at 09:45 . Current consensus is 45.5
18:26 EDTInternational Trade in Goods Balance to be reported at 08:30
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18:26 EDTEmployment Cost Index ECI to be reported at 08:30
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18:26 EDTGDP price index to be reported at 08:30
GDP price index will be reported at 08:30 . Current consensus is 0.9% for the quarter
18:26 EDTReal GDP to be reported at 08:30
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18:26 EDTPending Home Sales Index to be reported at 10:00
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18:26 EDTDurable Goods Orders Ex-transportation to be reported at 08:30
December Durable Goods Orders Ex-transportation will be reported at 08:30 . Current consensus is 0.0% for the month
18:26 EDTDurable Goods Orders to be reported at 08:30
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18:26 EDTNew Home Sales to be reported at 10:00
December New Home Sales will be reported at 10:00 . Current consensus is 500K
18:26 EDTFOMC Meeting Announcement Federal Funds Rate to be reported at 14:00
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18:26 EDTConsumer Confidence to be reported at 10:00
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18:26 EDTFHFA House Price Index M/M change to be reported at 09:00
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18:26 EDTDallas Fed Mfg Survey General Activity Index to be reported at 10:30
January Dallas Fed Mfg Survey General Activity Index will be reported at 10:30 . Current consensus is [14.0]
18:26 EDTWeek of 2/5 Baker-Hughes Rig Count to be released at 13:00
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15:05 EDTTreasury Closing Summary:
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14:20 EDTTreasury Action: the curve is flattening ahead of next week's FOMC meeting
Treasury Action: the curve is flattening ahead of next week's FOMC meeting and Treasury supply. The 2s-10s gap has traded in the 118 bp to 119 bp area, the flattest levels going back to early 2008. Though no rate action is expected from the Fed, Yellen and Co. are unlikely to produce a policy statement that's as dovish as the comments from the ECB's Draghi or the BoJ's Kuroda, who suggested almost limitless potential for QE. The market is unwinding some bets that the Fed would delay a potential March rate hike now that stock and commodity markets are stabilizing. This should help traders build in further concessions ahead of the 2-, 5-, 7- and 2-year FRN auctions. The wi 2-year has moved up 4 bps today to 0.89%, with the wi 5-year about 4 bps higher at 1.51%, while the wi 7-year is up 3 bps to 1.83%. Despite the selloff, these levels would be the richest in a couple of months. That may be problematic, especially for the 2s and 5s due to uncertainties over the Fed's policy statement. However, rate and policy differentials versus Europe and Japan, some underlying angst over China and the global economy (and some sustained flight to safety), along with month-end, should make for decent sponsorship.
14:15 EDTTreasury Action: yields are settling below highs
Treasury Action: yields are settling below highs ahead of the weekend, though stocks have made another minor push higher as oil continues to retrace its steps higher now near $32 bbl. The 2-year yield jumped from 0.837% in Asia to 0.885% session highs, but has since peeled back to 0.869%. The 5-year yield rebounded from 1.431% in Asia to test 1.51% stateside, only to ease to 1.484%. The 10-year yield surged from 2.02% session lows to highs of 2.088% before slipping back to 2.057%. And the 30-year yield swung from 2.792% to 2.861%, and then eased to 2.827%. Despite this pullback from highs in yields, that's left the belly of the curve underperforming, led by the 5-year note. Accordingly the 2s-10s spread at +119 bp is inside earlier wides near +120 bp, while the 5s-30s spread has flattened 2 bp to +134 bp. With coupon supply next week front-loaded (2s, 5s, 7s), that could limit curve steepening.
14:01 EDTInternals confirm strong market
Stocks have moved back toward session highs, with the Nasdaq leading the averages with a gain of more than 2.4%. The Dow is the laggard, with a gain of just 1.2%. Oil prices, which have been higher all day, remain up more than 7% and are approaching $32 a barrel. Advancing stocks are ahead of declining stocks by more than 5:1 and up volume is also far ahead of down volume.
13:35 EDTNY Fed's 3-day reverse repo totaled $60.3 B, with only 34 counterparties
NY Fed's 3-day reverse repo totaled $60.3 B, with only 34 counterparties. This is the smallest operation since the Fed began its tightening, with the lowest number of counterparties. The funds rate has been very stable, equilibrating around the 0.36% level, essentially the mid-point of the current target range.
13:20 EDTEnergy Action: Baker-Hughes reported its weekly oil rig count
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