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Stock Market & Financial Investment News

News Breaks
November 23, 2012
16:15 EDTWeek of 12/5 Fed Balance Sheet to be released at 16:30
News For NOSYMBOL From The Last 14 Days
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August 14, 2015
09:25 EDTU.S. July industrial production rose 0.6%, with capacity utilization at 78.0%
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09:10 EDTU.S. Industrial Production Preview
U.S. Industrial Production Preview: July industrial production data is expected to rise 0.2% (median 0.3%) headline that matches the 0.2% June increase. Capacity utilization is seen rising to 77.9% (median 78.0%) from 77.8% in June. The July employment report featured stronger hours worked data that should lend some support to the release, as mining hours worked grew 0.9% in July and factory hours worked were up 0.3%.
09:05 EDTThe 0.2% U.S. July PPI rise
The 0.2% U.S. July PPI rise with a firm 0.3% core price increase beat estimates thanks to 0.4% gains for service prices overall and trade services, alongside a surprising 0.1% goods price decline that included drops of 0.6% for energy and 0.1% for food. On the old SOP basis, analysts saw a 0.1% July headline PPI drop after gains of 0.9% in June and 1.5% in May, as the July downturn in commodity prices after the May-June bounce is more glaring in the SOP series that excludes the service price data. Analysts expect a 0.1% PPI drop in August with a 0.1% core price increase, and a larger August SOP drop of 0.3%. Commodity prices are falling again thanks to a weak global economy, concerns about China that have been heightened by the yuan devaluation, a firming dollar, and continued oil inventory gains and production firmness as OPEC abandons its "cartel function." Yesterday's July trade price report revealed big July core price declines, though analysts saw a lean oil price drop and a small food price bounce. Analysts expect 0.1% headline gains for CPI and PCE chain prices, with core price increases of 0.2% for CPI and 0.1% for PCE.
09:00 EDTU.S. equities found a soft spot
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08:45 EDTTreasury Action: yields probed highs on core PPI
Treasury Action: yields probed highs on core PPI which came in a bit hot relative to low expectations, while the headline print was slightly above median forecasts. The T-note yield lurched toward 2.19% from under 2.18% before simmering back down, compared to session lows near 2.16% in Asia. With supply out of the way and global stocks still looking a bit defensive this may help keep a lid on rates into the weekend, though production and sentiment data are still on tap. The 2s-10s spread at +146 bp remains narrow.
08:45 EDTFX Action: The dollar rallied
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08:40 EDTU.S. PPI (final demand) rose 0.2% in July with the core up 0.3%
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08:34 EDTFutures drift slightly lower following producer prices report
Stock futures drifted lower following the release of the producer prices report. The data showed that prices rose 0.2% overall versus expectations of an increase of 0.1%. When food and energy data is removed, the core reading was up 0.3% versus expectations of a 0.1% gain. The next economic reports are due out at 9:15 am ET, when data on industrial production and capacity utilization reports are due to be released.
08:20 EDTU.S. PPI Preview
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08:15 EDTFed rate predictions implied by Fed funds futures are "squishy"
Fed rate predictions implied by Fed funds futures are "squishy" and not precise, according to WSJ's Hilsenrath, due to the target being a 0.0-0.25% range with the actual rate averaging somewhere in between and a $2.6 B balance sheet hanging over the whole operation. The actual trading level upon which the futures are based could be erratic into month-end settlements, amplified in the further deferred contracts. He noted: "This is not to say there is no information embedded in futures price movements. There is plenty. Last week, when the Labor Department reported healthy jobs numbers, the implied probability of a rate increase flashing on Mr. Hollenhorst's screen jumped from 53% to 60%. The levels weren't as meaningful as the movement, Mr. Hollenhorst says. The market was sending a signal that investors saw increased chances the Fed would move. The probability then sank from 60% to 50% when China devalued its currency Tuesday. Again, the level wasn't as meaningful as the signal the market was sending: China's action could give the Fed pause. Take the probabilities themselves with some dose of skepticism. What really matters is what they saw about events that change the Fed's economic scorecard."
08:10 EDTEnergy Action: NYMEX crude touched new trend lows
Energy Action: NYMEX crude touched new trend lows of $41.46 in early Asian trade, though has since recovered to as high as $42.40, as the dollar moves lower, and as pre-weekend short covering steps in. The contract had peaked at $45.34 on Tuesday of this week, and it had been all down hill from there in light of China slowdown fears, and a global supply glut. RBOB gasoline, which has been holding up better due to unplanned refinery outages, has played catch-up overnight, falling nearly 10 cents from Thursday's high, now trading at $1.685/gallon, Natural gas, which dove over 3% on Thursday following bearish inventory data, is steady near the bottom of its weekly range, at $2.81/M BTU.
07:40 EDTTreasury Market Outlook: Treasuries are higher
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07:20 EDTFX Update: The dollar ebbed
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07:06 EDTFutures quiet following little change in China currency
Stock futures are quiet in early trading as investors relax after China's currency ended last night little changed. The euro zone's GDP numbers were uninspiring, leaving investors to look to the U.S., which is expected to report data on producer prices, industrial production and consumer confidence today.
05:56 EDTAugust front month equity options last day to trade is August 21, 2015
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05:53 EDTOn The Fly: Morning Wrap-Up for August 14
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03:25 EDTFX Action: The yen is trading mixed
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02:50 EDTFX Update: Narrow ranges prevailed in cautious trade
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02:01 EDTWeek of 8/26 Fed Balance Sheet to be released at 16:30
02:01 EDTWeek of 8/17 Money Supply to be released at 16:30
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