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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | all recent NOSYMBOL news | >>
July 7, 2015
09:05 EDTThe widening U.S. trade deficit in May
The widening U.S. trade deficit in May, after an April reversal of a March spike, left a disappointing Q2 path for trade that was entirely due to a weak export trajectory. The west coast port labor dispute through February left larger gyrations for imports than exports, as exports failed to rebound with the same gusto as seen with imports in March. Analysts've lowered our Q2 GDP growth estimate to 2.7% from 3.0%, and analysts now assume a Q2 real net export contribution of only $32 (was $53) B, with a 4% (was 9%) growth rate for exports and a 1% contraction rate for imports. This only partly reverses a Q1 real net export subtraction of a hefty $76.6 B, with a 5.9% contraction rate for exports and a 7.1% growth rate for imports. For 2015, analysts expect 2%-3% price-led nominal export and import declines that reverse 3% gains for both in 2014, with weakness in early 2015 mostly due to low prices. Analysts previously saw a 2013 lull that left a 3% U.S. export rise with a flat import figure in that year, 3%-4% growth in 2012, and 14%-15% growth in 2011. Analysts expect the current account deficit to narrow to $102.1 B in Q2 from $113.3 B in Q1.
08:59 EDTRedbook Store Sales data reported
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08:55 EDTFX Action: USD-CAD advanced to fresh three-plus month highs
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08:55 EDTU.S equities are mixed-to-firmer
U.S equities are mixed-to-firmer after absorbing the latest round of global developments, including another round of extreme volatility in China and trading suspension of over 200 stocks there. Greece remains in the news as brinkmanship continues ahead of yet another Eurozone summit and the U.S. trade gap widened to $41.9 B in May. The Dow is 29-points firmer, S&P rose 4-points, while NASDAQ recovered to 4-points higher. The ECB boosted the haircuts on Greek data for the ELA in a largely symbolic move, while Greece is reportedly requesting a bridge loan to remain liquid in the meantime. The Euro Stoxx 50 is 0.6% lower, but above earlier lows near -1.0%. In Asia, China's Shenzhen closed 1.7% lower and the Shanghai Comp -1.3%, above opening lows, though other indices dropped 5-9% and Japan's Nikkei rose 1.3%.
08:45 EDTU.S. trade deficit widened 2.9% to $41.9 B in May
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08:45 EDTTreasury Action: yields continued to be capped
Treasury Action: yields continued to be capped by last-ditch negotiations in Greece and equity volatility, leaving the T-note down at 2.22% compared to overnight highs of 2.31%. Thus the surprise widening of the May trade gap was duly shrugged off, with stocks mostly holding in the green. The 2s-10s spread has narrowed inside +165 bp.
08:40 EDTFX Action: The dollar showed little reaction
FX Action: The dollar showed little reaction to the nearly in-line May trade deficit, and remains firm versus the European majors and soft against the yen. EUR-USD touched one-month lows of 1.0918, just above the June 2 bottom, as USD-JPY languishes under 122.50. Equity futures indicate a modest Wall Street opening bounce, while yields were largely unmoved.
08:31 EDTInternational Trade Balance Level data reported
May International Trade Balance Level at -$41.9B vs consensus of -$42.7B
08:31 EDTGallup US ECI level data reported
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08:20 EDTU.S. Trade Deficit Preview
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08:15 EDTU.S. chain store sales rose 2.1% in the week ending July 4
U.S. chain store sales rose 2.1% in the week ending July 4, after a 2.2% gain previously. It's a 4h straight weekly gain. The annual pace accelerated to a 3.0% y/y clip versus 2.7% y/y, and is the fastest since May 23. Demand was especially noted at discounters, dollar stores, and drug stores ahead of the Independence Day holiday.
08:05 EDTEnergy Action: NYMEX crude
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08:00 EDTTreasury Market Outlook: global bonds remain in rally mode
Treasury Market Outlook: global bonds remain in rally mode amid Greek angst and weakness in European bourses, while Chinese equities extended lower too. The U.K. Gilt is outperforming with the yield down over 12 bps to 1.885%. The wi Treasury note is off 5 bps to 2.245%. Trading volume was on the lighter side however. Eurozone finance ministers are meeting in Brussels in a last ditch effort to prevent a "Grexit" after the ECB increased the pressure yesterday by raising the haircut on Greek collateral substantially. Meanwhile, further declines in Chinese stocks has taken the Shanghai index 20% lower from its May highs. Data remains of secondary importance and today's U.S. slate won't provide much to chew on with just May trade, May consumer credit, May JOLTS, and weekly chain store sales. Also, supply comes to the forefront today with the $24 B 3-year auction which starts the $58 B in refunding auctions.
07:57 EDTNomura to hold a conference
Hong Kong/China Financial Corporate Day is being held in Hong Kong on July 7.
07:50 EDTN.Y. FX Outlook
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06:58 EDTFutures pointing to bounce with Eurogroup meeting on deck
Stock index futures are pointing toward a higher open in early trading. Two Eurozone meetings, including one by the Eurogroup and a later Leaderís Summit, are scheduled for today and headlines from them will be closely watched. In the U.S., investors will receive the trade balance report for May before the opening bell and the JOLTs report on job openings and labor turnover in May after the open.
06:55 EDTFX Update: EUR-USD dove below 1.1000
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06:07 EDTOn The Fly: Morning Wrap-Up for July 7
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03:15 EDTFX Action: USD-CAD extended to a new three-month high
FX Action: USD-CAD extended to a new three-month high at 1.2673 as the Canadian dollar continued to underperform following the latest dive in oil prices. NYMEX dove on Monday to levels under $53 following recent supply builds and concerns that the Greece situation could dent global growth. Prices have dived over 10% over the last week. USD-CAD support is at 1.2633 and 1.2570. The major-trend peak at 1.2835, which was seen on Mar-18, provides an upside focal point.
02:45 EDTFX Update: Narrow ranges prevailed among the dollar majors
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<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | all recent NOSYMBOL news | >>

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