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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
Check below for free stories on NOSYMBOL the last two weeks.
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July 17, 2014
11:20 EDTToday's U.S. reports
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11:15 EDTTreasury announced a $50 B 3- and 6-month bill sale for Monday
Treasury announced a $50 B 3- and 6-month bill sale for Monday, upping each tranche by $1 B. This brings the size of the shorter dated issue to $26 B and the longer dated one to $24 B. Debt managers also detailed a $25 B 52-week bill sale for Tuesday, and a $15 B 10-year TIPS offering for Tuesday as well.
10:35 EDTThe Philly Fed July pop to a 23.9 three-year high
The Philly Fed July pop to a 23.9 three-year high extended the June climb to 17.8 from 15.4 in May, versus a -6.3 fifteen-month low in February. The ISM-adjusted measure rose even more sharply, to a 59.5 cycle-high from 54.1 in June and 52.5 in May, versus a 49.0 nine-month low in February. Strong weekly vehicle assembly rates are likely lifting all the July factory-sensitive reports, as was the case with Tuesday's July Empire State rise and today's tight claims figure. Analysts've raised our July payroll estimate to 220k from 210k. Today's Philly Fed rise mirrored the Empire State increase to 24.60 from 19.28, where analysts saw a 54.8 ISM-adjusted reading. Analysts expect a Richmond Fed rise to 5.0 from 3.0, a Dallas Fed rise to 14.0 from 11.4, an ISM rise to 55.5 from 55.3, and an ISM-NMI decline to 55.5 from 56.0. The mix should allow the ISM-adjusted average to climb to a robust 55 from 54 through Q2, a 52 average in Q1, and a 53 average in Q3 and Q4 of 2013. Analysts saw a 56 cycle-high in February and March of 2011.
10:30 EDTNY Fed outright purchase: Fed is buying $1.75 B to $2.25 B in notes
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10:15 EDTU.S. Philly Fed manufacturing index climbed 6.1 points to 23.9 in July
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10:15 EDTFX Action: The dollar inched higher
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10:15 EDTTreasury Action: yields rebounded from lows
Treasury Action: yields rebounded from lows after Microsoft cuts help blaze a rebound in stocks, while the Philly Fed index was sharply higher, boosted in particular by its new orders component. The T-note yield snapped back to 2.51% from under 2.50%, giving a temporary reprieve from stretched curve flattening positions. The 2s-10s spread still narrowed to +202 bp, however, before pausing. Stocks are almost back to unchanged.
10:05 EDTU.S. equities rebounded from lows with Microsoft
U.S. equities rebounded from lows with Microsoft being rewarded with a 3.6% gain to $45.59 highs following the announcement of 18k in layoffs. This may have helped curtail opening losses on renewed stress and sanctions on Russia, while there were also reports overnight of a Russian jet downing a Ukrainian fighter over that country's Eastern territory. NASDAQ has cut its losses to -0.2% and is pacing the rebound. In fact, Microsoft is the biggest gainer in the Dow by a wide margin, followed by UnitedHealth at +0.5% and IBM +0.5%, while the deepest decline has been posted by Caterpillar at -1.5%. Philly Fed is up next.
09:49 EDTMarket opens lower, trims losses in early trading
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09:45 EDTU.S. Philadelphia Fed Index Preview
U.S. Philadelphia Fed Index Preview: The July Philly Fed is expected to increase to 18.0 (median 16.0) from 17.8 in June. The already released Empire State index for the month jumped to 25.6 from 19.3 and vehicle assemblies for the month are exceeding expectations, both of which lend upside risk to this release.
09:30 EDTThe June U.S. housing starts and permits drops
The June U.S. housing starts and permits drops followed big downward starts revisions to leave a disappointing two-month drop for both measures that translates to an anemic post winter bounce. The ongoing underperformance for the housing recovery likely reflects an ongoing mortgage market dysfunction that is capping construction growth alongside a dissipation in distressed sales that is restraining the various sales measures. The June housing starts drop was spread across the single and multi-family components, but was heavily concentrated in the South. Starts under construction, which drive new home construction, have defied the recent downdraft just as they defied bad winter weather, with a 1.1% June climb that follows gains of 0.9% (was 1.4%) in May, 2.8% (was 2.2%) in April and 1.3% in March. There hasn't been a decline in this measure since May of 2011. Analysts still expect GDP growth of 2.5% in Q2 and 3.5% in Q3, after the hefty 2.9% Q1 plunge, with residential construction growth of 3% in Q2 and 7% in Q3, after declines in the prior two quarters of 4.2% in Q1 and 7.9% in Q4 of last year.
09:15 EDTEuro$ interest rate options: mixed activity
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09:15 EDTFX Action: USD-CAD dipped after the U.S. data
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09:06 EDTMany Chinese businesses still deteriorating, NY Times says
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09:05 EDTSt. Louis Fed dove Bullard will discuss the economy
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09:00 EDTThe 3k U.S. initial claims drop to 302k
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08:55 EDTU.S. equities traded Portugal for Russia
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08:45 EDTU.S. housing starts dropped another 9.3% to 893k in July
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08:45 EDTTreasury Action: yield slumped to session lows
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08:45 EDTFX Action: The dollar slipped after the mix of data
FX Action: The dollar slipped after the mix of data, where housing starts were much softer than expected, and weekly jobless claims were a touch lower than forecasts. EUR-USD popped up nearly 10 points to 1.3532, as USD-JPY edged to 101.44 from over 101.50. Equity futures remain underwater, while yields are under modest pressure.
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