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Stock Market & Financial Investment News

News Breaks
November 30, 2012
09:45 EDTISM Non-Mfg Index Composite to be reported at 10:00
November ISM Non-Mfg Index Composite will be reported at 10:00 . Current consensus is 53.6
News For NOSYMBOL From The Last 14 Days
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January 25, 2016
10:33 EDTDallas Fed Mfg Survey General Activity Index data reported
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10:15 EDTU.S. Producer Sentiment Remains Depressed in January:
U.S. Producer Sentiment Remains Depressed in January: Analysts've seen divergent swings in early month sentiment measures, with the Empire State plunging to a post-recession low and the Philly Fed edging up to a still negative -3.5. Their ISM-adjusted measures followed the headlines thanks to big divergent swings in shipments, though analysts saw the opposite divergent swings in the jobs components around weak levels. Analysts expect the ISM-adjusted average of the major surveys to hold steady at just 50 for a fifth consecutive month, as the factory sector remains under pressure.
10:05 EDTBuy those on-the-runs this week:
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10:00 EDTFOMC meeting to go ahead as planned Tuesday and Wednesday
FOMC meeting to go ahead as planned Tuesday and Wednesday, announced the Fed. Those policymakers who will be unable to attend in person due to the blizzard can take part via a video conference. Washington, D.C. remains shut today due to the storm. Any releases scheduled for today will be postponed until the next business day government offices are open.
09:42 EDTEquities follow oil lower in early trading
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09:40 EDTJefferies analysts to hold an analyst/industry conference call
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09:40 EDTFX Action: USD-CAD matched the overnight high
FX Action: USD-CAD matched the overnight high of 1.4219, with the modest rally corresponding to WTI crude's dip under $31/bbl to $30.72 intra day lows. The pairing's massive pullback last week from the multi-year peak of 1.4690 was mostly linked to oil's rally as well, though the BoC's lack of rate cut likely lowered the pairing's medium term trading range. The CAD's near term fate will be determined by commodities and risk taking levels.
09:35 EDTBB&T analysts hold an analyst/industry conference call
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09:30 EDTTreasury Action: supply picks up smartly this week
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09:10 EDTFed policy outlook: FOMC highlights this week
Fed policy outlook: FOMC highlights this week. The Fed won't announce a rate hike again Wednesday after last month's liftoff. And there's unlikely to be any explicit forward guidance in terms of action at the next meeting in March. It will be important, though, to gauge the tone of the policy statement for clues on a March rate hike. Analysts doubt the Committee will follow the more dovish lead from the ECB and BoJ last week, where downside risks were stressed. However, the poor start to 2016 for equities and commodities, the downward revisions to global growth, and the likely delay in inflation reaching the 2% inflation target could give the Fed pause. It will be important to see if there is some toning down of the December statement which indicated consumer spending and business fixed investment were "solid" and whether there is any concern that inflation won't be accelerating over the medium term, as hoped. Analysts still expect another hike in March given the still strong labor market and as the markets stabilize, but it's become a closer call. Analysts suspect Yellen's February 10 testimony will be a better venue for the Fed to lay out hints on the rate path.
08:50 EDTYellen losing dollar bet, as its rise slows growth and inflation
Yellen losing dollar bet, as its rise slows growth and inflation according to Bloomberg Fedwatcher Rich Miller, who says the dollar continues to defy the Fed's prediction that hikes are priced in. The dollar has gained another 2% since the Fed's December hike on top of the 11% gain in 2015, which will help curb both growth and inflation, while pushing back Fed tightening expectations from March to June. That could yet cause the Fed to back away from its forecast of 4 hikes this year and markets will look for signs of any such shift in the statement on Wednesday. Morgan thinks this could see a return of explicit global and market concerns to the statement, while still leaving the door open to further hikes. The next update on growth comes with Friday's Q4 GDP reading after the Fed decision, but seen at a sluggish 0.8% advance reading.
08:35 EDTEnergy Action: NYMEX crude
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08:25 EDTU.S. equities are back underwater
U.S. equities are back underwater after a strong finish last week petered out with fresh declines in crude oil, knocking European shares lower. Asia had settled higher on the coattails of gains last week, with the Nikkei 0.9% firmer amid BoJ stimulus hopes and the Shanghai Comp rose 0.8%. But that all stalled out in Europe after WTI sank 3.2% to the $31.15 bbl area, leaving the Euro Stoxx 50 marginally lower and the German DAX flat. The Dow is 55-points lower, S&P sank 7-points and NASDAQ is off 14-points ahead of the opening bell. M&A and quarterly earnings remained in focus with data scarce and the FOMC meeting just ahead at midweek. Johnson Controls announced "advanced talks" over a $20 B merger with Tyco, boosting its shares over 14%. Goldman cut CAT to a sell rating, knocking it 2.5% lower, while Twitter tanked 5% after sacking 4 executives. McDonald's global sales rose 5%, beating forecasts.
08:10 EDTFed funds opened at 0.36%
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08:05 EDTFed is at root of much market turmoil
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08:05 EDTN.Y. FX Outlook
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07:58 EDTFutures pointing to lower start to week
U.S. stock futures are lower to start the week as the market tries to build on last week's small advance. The market had its first winning week of the year as a rebound in oil price helped fuel a rally to end the week. Investors will be watching oil prices, which are lower this morning, as well as the barrage of earnings this week, including Apple's (AAPL) report tomorrow after the close. Also, the FOMC will be holding a two day policy meeting tomorrow and Wednesday and will issue a policy statement at its conclusion. In pre-market trading, Dow futures are 50 points below fair value, Nasdaq futures are 12 points below fair value and S&P futures are 4 points below fair value.
07:55 EDTTreasury Market Outlook: longer dated Treasuries are a little firmer
Treasury Market Outlook: longer dated Treasuries are a little firmer, piggybacking on European bond gains after bourses unwound Asian gains and moved lower. U.S. equity futures are following suit. Crude oil has fallen back into the red, declining over 3% to hit $30.86 from $32.74 earlier. The 10-year Treasury yield is down 2 bps to 2.03%, while shorter dated notes are lagging ahead of this week's FOMC meeting and supply. Trading volume was on the thin side. There wasn't much news overnight. Japan's trade deficit narrowed as expected amid declines in exports and imports. Also, German Ifo was much weaker than expected, as was the UK's CBI industrial trends survey. It's a busy week in the U.S. with the FOMC meeting, supply, earnings and housing, durables data. However, today's slate is light with just the January Dallas Fed index. On the earnings front, Ashland, D.R. Horton, Graco, Halliburton, Kimberly-Clark, and McDonald's will all report quarterly results.
07:35 EDTJPMorgan to hold a conference
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07:25 EDTFX Update:
FX Update: Risk-on in the Asian session soured to risk-off during the European AM session, which has had the usual consequences in forex markets of sending commodity currencies lower and the yen higher. The dollar traded lower against the yen and the euro, but gained versus the likes of the Canadian dollar, which tracked a sharp decline in oil prices. Oil prices once again at the epicentre of broader market sentiment. Brent crude fell some 3% after earlier showing gains of more than 1%. There didn't appear to be a catalyst, though the dip follows Friday's 7%-plus surge. Opec's general secretary said that oil producers must address the supply overhang, though his words had little lasting impact.
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