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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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January 28, 2015
06:17 EDTS&P lowers Atlantic City, NJ GO debt rating to BB from BBB+
Standard & Poor's Ratings Services yesterday lowered its general obligation rating on Atlantic City, NJ, four notches to 'BB' from 'BBB+' and placed it on CreditWatch with negative implications. The downgrade reflects S&P's view of the state's recent appointment, by executive order, of an Emergency Manager and Emergency Manager Advisor within the state's Department of Community Affairs, Division of Local Governments. The order requires the Emergency Manager to prepare and recommend a plan, within 60 days, to place Atlantic City's finances in stable condition and provides the explicit authority to use any and all lawful means, including restructuring the city's operations and adjusting its debts to achieve that aim. "The implementation of an Emergency Manager signals to Standard & Poor's that the state does not view the city as capable of resolving its challenges without outside intervention; in our view, third-party intervention is often more draconian than the actions taken to date and has a greater likelihood of being detrimental to bondholders," said Standard & Poor's credit analyst Lindsay Wilhelm. The CreditWatch placement reflects S&P's expectation that the Emergency Manager's plan, which is due within the next 60 days, should provide additional clarity on the path that the city and state might pursue to stabilize the city's finances and it will monitor the impact that the plan may have on the city's bonded debt.
06:13 EDTOn The Fly: Morning Wrap-Up for January 28
Globex S&P futures are recently down 0.50 from previous days SPX cash close. Nikkei 225 up 0.15%, DAX down 0.36%. WTI Crude oil is recently at $45.29, natural gas down 2.75%, gold at $1288 an ounce, copper up.81%.
05:54 EDTOn The Fly: Morning Wrap-Up for January 28
Globex S&P futures are recently down 0.50 from previous days SPX cash close. Nikkei 225 up 0.15%, DAX down 0.36%. WTI Crude oil is recently at $45.29, natural gas down 2.75%, gold at $1288 an ounce, copper up.81%.
05:49 EDTFebruary front month equity options last day to trade is February 20, 2015
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04:35 EDTFX Action: USD-JPY dipped below 117.70
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02:15 EDTFX Update: The AUD and SGD were the main shows in town
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January 27, 2015
17:10 EDT 4-Week Bill Auction to be released at 11:30
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16:17 EDTWeek of 2/7 Redbook to be released at 08:55
15:20 EDTTreasury Closing Summary:
Treasury Closing Summary: The earnings bubble was burst on a number of company reports by Tuesday as the plunge in energy prices and dollar rally last year finally caught up with several multi-nationals. Combined with heaviness in Europe and uncertainty over Greek leadership choices, along with a poor run of durable goods data, this proved toxic for Wall Street as it dug out of its snow storm. The surge in consumer confidence and new home sales provided some solace, but was largely overlooked. Looming Apple earnings after the close proved a greater inducement to short-covering on stocks that dictated a similar pattern on Treasury yields even as the FOMC began its debate of the state of the economic union.
14:30 EDTTreasury Action: yields couldn't get enough traction
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13:55 EDTFX Action: USD-JPY pulled up just short of the 118.00 mark
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13:10 EDTU.S. equities rounded off the bottom with an Apple bounce
U.S. equities rounded off the bottom with an Apple bounce in their eyes ahead of its earnings after the close. This followed getting sucked lower with the European close as the Euro Stoxx 50 finished 1.22% lower and Athens 5.0% lower (above session lows). NASDAQ has cut losses to -1.5%. Apple is still down 1.5% near $111.32, but closer to session highs of $112.48 than lows of $109.75. A miss by the tech gadget firm would be devastating to weakened stocks, but that's not expected to be the case as strong demand for the higher margin iPhone 6 series, which should bolster its earnings, though dollar strength could be a catch here too especially for global sales. Other highlights could be on iPad vs Mac sales, the roll-out of Apple Pay and the Apple watch could all factor in. Median estimates are for $53.7 B in revenue vs $45.7 B for the year-ago quarter and forward guidance will of course be key. The bulk of the Dow remains in the red, however, after earnings and durables misses, with the deepest holes dug by Microsoft -8.8%, Caterpillar -7.8% and Intel -4.3%. Note, risk proxy USD-JPY is rebounding as well.
12:15 EDTTreasury Action: Treasuries are still in rally mode
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11:55 EDTFX Action: USD-CAD traded through sell-stops at 1.2390
FX Action: USD-CAD traded through sell-stops at 1.2390, on its way to 1.2380 lows. The pairing has returned over the 1.2400 mark, though with WTI oil prices up over $1 from overnight lows, and approaching $46.00, USD-CAD sellers have returned over the figure. The overnight move to 1.2500 prompted a good amount of position squaring, and given the more than 100 point retracement, analysts look for the pairing to consolidate on either side of 1.2400 near term.
11:25 EDTGundlach of Doubleline scoffed at Fed hiking rates
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11:15 EDTEuro$ interest rate options: bullish put selling
Euro$ interest rate options: bullish put selling has been reported in the latest wave of activity on the short-dated rate contracts, including the sale of 17k in June 2015 93/93/96 put butterflies and sale of 5k in Short March 86/88 put spreads. Though the underlying deferred contracts are still as much as 9-ticks firmer thanks to the slump in stocks, sources believe this is mostly pre-FOMC position unwinding.
11:15 EDTToday's U.S. reports
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10:45 EDTThe U.S. consumer confidence January surge to a cycle-high 102.9
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10:35 EDTTreasury Action: a wild ride for the 30-year
Treasury Action: a wild ride for the 30-year culminated in a run to a historic low yield of 2.3289% before bubbling back up over 2.34%, well off session highs of 2.4095%. In the melee after the damp durables print the cash bond yield perversely shot to that session high near 2.41% before plunging back down to 2.34% again, a move rumored to be driven by some HFT (high-frequency) crew or other fast-money type. It especially stood out as there was no parallel move on the 10-year yield at all, just a big downbar on the yield from the 1.80% area to 1.76% at the time, lending credence to the conspiracy theory.
10:35 EDTThe 11.6% U.S. new home sales pop
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