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News For NOSYMBOL From The Last 14 Days
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June 18, 2015
09:25 EDTU.S. equity investors are still fired up
U.S. equity investors are still fired up by the prospect of a more gradual rate path as detailed in the Fed projections, obscuring the Greek debt crisis for the moment, which is unlikely to be resolved today. The cooler than expected 0.1454% core CPI reading didn't hurt either in terms of the rate path, though jobless claims dropped again. The Dow is 66-points firmer, S&P gained 5-points and NASDAQ is up 15-points in pre-market action. In Europe, the Euro Stoxx 50 is 0.5% lower, the DAX 0.6% lower, though Athens has rebounded 0.5% after the sell-off. Japan's Nikkei sank 1.13% after more volatility in China with the Shenzhen down 4.0% and Shanghai Comp 3.6% lower. Oracle sank 6% after subpar earnings were forecast in part due to the strong dollar. Rite Aid dove 5% after weak forecasts as well. Philly Fed and LEI remain on the docket.
09:20 EDTU.S. CPI rose 0.4% in May with the core up 0.1%
U.S. CPI rose 0.4% in May with the core up 0.1%, not quite as hot as forecast. There were no revision to the respective gains of 0.1% and 0.3% in May. Energy prices rebounded 4.3% after falling 1.3% previously. Transportation was the other culprit behind the headline strength, surging 2.7%. Commodities increased 0.9%. Service costs rose 0.2%. Food/beverage costs were flat, as was housing. Apparel prices declined 0.5%. Medical care edged up 0.2%. Recreation rose 0.1%.
09:20 EDTTreasury Action: curve steepening remains the play
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09:15 EDTThe 0.4% May U.S. CPI rise
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09:12 EDTHouse Energy & Commerce Committee to hold a hearing
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09:06 EDTConsumer Advisory Board to hold a meeting
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09:00 EDTFed 2015 roadmap and other takeaways from Yellen Q&A:
Fed 2015 roadmap and other takeaways from Yellen Q&A: according to WSJ's Hilsenrath, 1) the dot-plot suggests the Fed is split between one or two small hikes by year-end, likely September and December, if both. 2) Yellen's New Gradualism Mantra is that rate increases will be gradual and shallow. 3) Believe it when they see it - having been burned by growth in the past the Fed "would like to see more decisive evidence that a moderate pace of economic growth can be sustained." 4) Yellen's on hawkish note - she agreed with Dudley that the Fed could have hiked more rapidly in 2004-06 and won't be mechanistic this time. 5) Congress leave us alone - "I would ask, what exactly is the problem?" Ms. Yellen said. "I'm not certain what the problem is that needs to be addressed."
08:50 EDTU.S. current account deficit rose to $113.3 in Q1 from -$103.1 B
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08:50 EDTThe 12k U.S. initial claims drop to 267k
The 12k U.S. initial claims drop to 267k in the BLS survey week more than reversed the prior 2k rise to 279k, as claims continue to oscillate above the 262k cycle-low from the end of April. Claims are tight, and are again adhering to a cyclical downtrend after a stalled pace of improvement through the volatile winter months. Claims are averaging just 273k in June, versus higher prior averages of 274k in May, 281k in April, 285k in March, and 306k in February. The 267k BLS survey week reading also undershot prior BLS figures of 275k in May, 296k in April, 293k in March, and 285k in February. Analysts still expect a 220k June nonfarm payroll gain that undershoots the 280k May pop but nearly matches the 221k April rise. Payrolls face upside risk from tight claims and heightened consumer confidence in the face of lower gasoline prices. Analysts also face upside risk from the April vehicle assembly rate rise to a 12.0 M clip and the 7.6% May sales rate surge to a 17.7 M cycle-high. Analysts face downside risk from factory sentiment weakness as seen with Monday's Empire State report.
08:45 EDTSenate Homeland Security & Governmental Affairs Committee holds a hearing
The Subcommittee on Regulatory Affairs and Federal Management holds a hearing entitled, "Re-Examining EPA's Management of the Renewable Fuel Standard Program" with Janet McCabe, Acting Asst Administrator of the EPA on June 18 at 9 am. Webcast Link
08:45 EDTTreasury Action: yields steadied above lows
Treasury Action: yields steadied above lows after the trio of CPI, C/A and claims data were on balance not too dramatic in terms of the Fed timing, as the cool 0.1% core CPI gain offset the drop in jobless claims. The T-note yield had rebounded from post-FOMC lows of 2.26% to test 2.31% before easing back. The 2s-10s spread has widened out to +167 bp as the front-end continues to outperform.
08:45 EDTFX Action: The dollar fell back
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08:45 EDTU.S. CPI rose 0.4% in May with the core up 0.1%
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08:41 EDTCurrent Account data reported
Current Account at -$113.3B vs consensus of -$116.5B
08:41 EDTJobless Claims data reported
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08:40 EDTU.S. initial jobless claims dipped 12k to 267k in the week ended June 13
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08:34 EDTFutures remain higher following CPI and claims data
Stock futures remain higher following the release of several economic data points. The consumer prices index showed prices rose 0.4% in the month of May, versus expectations for a 0.5% increase. The core reading, which removes food and energy prices, rose 0.1%, versus the expected increase of 0.2%. Initial jobless claims were 267,000, versus expectations for 277,000 first-time claims.
08:20 EDTU.S. CPI preview: May headline CPI is expected to grow 0.5%
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08:20 EDTU.S. initial jobless claims preview:
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08:20 EDTU.S. Current Account Preview
U.S. Current Account Preview: The Q1 current account report is expected to reveal a -$116.7 B headline deficit (median -$117.5 B) from -$113.5 in Q4 of last year. This compares to the already released trade deficit for Q1 which was -$77.0 B in the second GDP release from -$40 B in Q4 of last year.
<< 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 | 28 | 29 | all recent NOSYMBOL news | >>

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