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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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January 26, 2016
12:05 EDTFX Action: USD-JPY continues to hold above 118.25
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12:05 EDTEuro$ interest rate futures rounded from lows
Euro$ interest rate futures rounded from lows after the rebound in the oil-equity trade cooled off somewhat and the Fed sits down to discuss their rhetorical options. The March 2016 contract is flat near 99.33, but that's up slightly from 99.325 lows earlier. The deferreds are 1-3 ticks higher out the curve after the mix of confidence, PMI and home price data earlier. Look for fairly tightly range-bound conditions to prevail while awaiting the outcome of the 2-day FOMC meeting.
11:50 EDTTreasury's $55 B 4-week bill auction was very strong
Treasury's $55 B 4-week bill auction was very strong with solid demand all the way around. The bill stopped through at 0.295% versus 0.300% at the bid deadline, and is a bit cheaper than last week's 0.250%. In fact, it's the cheapest since October 2013. There were over $202.8 B in bids for the upsized sale (boosted $5 B from last week) for a 3.69 cover, much stronger than the prior 3.09 and the 3.31 average. Also, indirect bidders accepted 38.4%, up from the 20.0% last week and the 25.4% average. Indeed, it's the highest since October 20, but the offering size had been slashed to $5 B due to debt limit issues.
11:20 EDTFed Policy Outlook:
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10:55 EDTToday's U.S. reports
Today's U.S. reports revealed a comfortable January consumer confidence rise to 98.1, despite stock price weakness that might have suggested an undershoot versus gains in the early-January gauges, while the Richmond Fed index fell 4 points as expected to 2 in January, from 6 in December and -3 in November. The ISM-adjusted Richmond Fed fell to 53.5 from 54.8 in December, with declines in shipments, new orders, inventories, and employment. Analysts expect a drop in the ISM-adjusted average of the major sentiment surveys to a three-year low of 49 from 50 over the prior four months, thanks partly to Monday's big Dallas Fed decline to a -34.6 new expansion-low, as the factory sector faces headwinds from energy sector dislocations, a surging dollar, a global growth slowdown, a lean vehicle assembly rate, and an inventory overhang.
10:45 EDTEnergy Action: NYMEX crude rallied to $31.22 highs
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10:35 EDTFX Action: The dollar initially ignored
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10:25 EDTTreasury Option Action: call positioning on 10s
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10:20 EDTU.S. Richmond Fed's manufacturing index dipped 4 points to 2 in January
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10:20 EDTThe U.S. consumer confidence rise to 98.1
The U.S. consumer confidence rise to 98.1 extended the December climb to 96.3 (was 96.5) to slightly beat expectations, thought confidence remains below the oddly-high Q3 readings that left a 102.6 September figure, and well below the 103.8 cycle-high in January of 2015. Confidence is benefiting from falling gasoline prices for consumers and home price gains despite ongoing limited credit availability, though confidence faces headwinds from plunging stock prices and the hit to factory production from falling foreign demand, the petro-sector recession and excess inventories. Since 2014, the various confidence measures have closed the gap to a lean growth path of consumption and payrolls, after unusually weak readings through the first five years of the expansion. Analysts have small gains in the January confidence gauges, though all remain below early-2015 levels. Michigan sentiment rose to 93.3 from 92.6, versus a higher 98.1 cycle-high last January. The IBD/TIPP index rose to 47.3 from 47.2 in December, versus a 54.0 cycle-high back in October of 2012. The weekly Bloomberg Consumer Comfort index has risen to a 44.2 average thus far in January from a 42.1 average in December, versus a 45.7 cycle-high average last April.
10:15 EDTU.S. January consumer confidence rose 1.8 points to 98.1
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10:15 EDTTreasury Action: yields steadied below highs
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10:05 EDTRichmond Fed Manufacturing Index Level data reported
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10:01 EDTConsumer Confidence data reported
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10:00 EDTTreasury Action: yields continued to inch higher
Treasury Action: yields continued to inch higher after the Markit services flash PMI hit over year-lows, but many of its components including employment were actually firmer. That's left focus on consumer confidence shortly, with the T-note yield nosing over 2.02%, though stocks have stumbled after opening higher. NASDAQ in particular looks nervous ahead of Apple earnings and concerns about sales growth in China.
10:00 EDTU.S. consumer confidence preview:
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09:55 EDTU.S. Markit preliminary services PMI slid to 53.7 in January
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09:46 EDTPMI Services Flash Level data reported
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09:45 EDTFX Action: USD-CAD remains volatile
FX Action: USD-CAD remains volatile, falling to 1.4125 lows, after topping at 1.4325 overnight as oil prices plumbed $29.25/bbl lows. The pairing came under pressure as WTI crude recovered to just shy of $31.00. The 1.4110-1.4100 level is shaping up to be an important support level, having based near the level for the past three sessions. Sell-stops are reportedly building now just under the figure.
09:40 EDTEvercore ISI to hold a webinar
Healthcare/Strategy Webinar focuses on the recent volatility in the overall markets and top level macro themes and is being held on January 26 at 10:30 am. Webcast Link
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