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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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December 16, 2014
15:00 EDTTreasury Closing Summary:
Treasury Closing Summary: A wild ride on Tuesday saw further trend lows in oil pull the carpet out from under the Russian ruble, in turn provoking a 6.5% hike in Russian base rates to 17%. Initially that saw stocks, yields and the dollar plunge as the risk switch flipped to "off", but the ruble eventually fought its way back with stocks, the dollar and yields following suit. Quite a day for the FOMC to begin to assess its rhetorical options and potential market reaction, while both housing starts and Markit flash PMI faltered.
14:45 EDTOil price volatility leading to swings in equity market
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14:35 EDTCanada Wholesale Shipment Preview
Canada Wholesale Shipment Preview: Analysts expect shipments, due Wednesday, to fall 0.5% in October after the 1.8% surge in September. The forecast risk is downward given the hefty gain in September. While this report is typically overlooked, but an as expected drop would track expectations for a slowing in October GDP to a 0.1% m/m rate of growth after the 0.4% surge in September GDP.
13:47 EDTMarket-Vector Russia ETF Trust December volatility elevated at 123
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13:40 EDTTreasury Option Action: mostly bullish positioning was the rule
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13:15 EDTFX Action: USD-JPY has recovered sharply
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13:10 EDTFOMC preview: the FOMC began its meeting
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12:50 EDTFOMC Forecast revisions
FOMC Forecast revisions from this week's FOMC meeting will be revealed Wednesday, and later in the January 7 FOMC minutes. Analysts expect boosts in the 2014 GDP and PCE chain price figures due to stronger Q3 and Q4 growth prospects since September and the sharp year-end plunge in oil prices. Analysts expect a trimming in 2014 high-end estimates for core inflation and the Fed funds rate. Beyond 2014, the GDP growth estimates are likely to be trimmed and narrowed, as only the low-end estimates look too pessimistic, while headline inflation will likely be lowered modestly in 2015 and 2016 given the weak trajectory for energy prices and lower global growth estimates. Future core inflation estimates will likely be lowered only slightly. All the jobless rate estimate will likely be lowered, as is typical at each meeting given continued weak labor force growth. Future Fed funds rate estimates should be narrowed slightly, as views converge toward the consensus. page for a table of our assumptions for the Fed's revised forecasts.
12:30 EDTOil Action: Crude trade remains very volatile
Oil Action: Crude trade remains very volatile, with the NYMEX contract running up to $57.11 from trend lows of $53.59, then sliding to current $55.49 lows. Weak shorts were squeezed out on the move over $56 according to sources, with fast money reportedly the sellers on the quick move over $57.
12:15 EDTU.S. VIX volatility slumped back toward 20.0
U.S. VIX volatility slumped back toward 20.0 as oil, the ruble and stocks all made some headway frmo lows, after roaming as high as 2-month highs 25.20 earlier. The surge in the VIX started from lows near 11.53 on payrolls Friday earlier in the month and now looks to have some resistance in the 25.0 area. The S&P 500 broke below 2k yesterday and lanced its 100-day moving average of 1,988 en route to December lows of 1,976.4 today before snapping back to highs of 2,016.8.
11:45 EDTTreasury $40 B 4-week bill auction was mixed
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11:40 EDTU.S. equities recovered some poise
U.S. equities recovered some poise taking their signal from the recovery in the ruble below 70.0 vs the dollar to 68.0, while crude oil has backed up over $55 bbl again. That has inspired some short-covering gains on the major indices, led by NASDAQ at +0.6%. The Euro Stoxx 50 has gained 1.5% and the Italian MIB is 2.7% higher, while Russia's MICEX has flipped 1.3% into the green (RTS still -12.3%). Top gainers in the Dow are Chevron +2.3%, Boeing +2.0% and 3M +1.7%. USD-JPY is playing along with the "risk on" rebound, angling toward session highs near 118.01 again.
10:58 EDTStifel REITs analysts hold an analyst/industry conference call
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10:50 EDTTreasury Curve Action: flattening into the FOMC
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10:35 EDTOil Action: NYMEX crude has traded up to $55.20 highs
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10:27 EDTCrashing ruble, sliding crude prices weigh on equities
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10:24 EDTBarclays industrials analysts hold an analyst/industry conference call
Industrials Analyst Research Team provides a weekly industry outlook on an Analyst/Industry conference call to be held on December 16 at 11 am.
10:00 EDTFX Action: USD-CAD has traded off its 1.1665 high
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09:55 EDTU.S. Markit flash PMI dropped to 53.7 in December
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09:20 EDTThe 1.6% November U.S. housing starts drop
The 1.6% November U.S. housing starts drop to a 1.028 M clip defied much of the expected weather-hit thanks to a hefty bounce in activity in the West, while permits fell 5.2% to a still respectable 1.035 M. Home completions fell 6.4%, with a shortfall in the Northeast and Midwest, that marked the only clear weather-impact. Analysts saw solid growth in housing starts "under construction" that guides GDP forecasts. Harsh weather began in the second week of November, but it had little apparent impact on the jobs data from the BLS survey week and on today's starts and permits data, though the utility figures from the last industrial production report revealed a massive 5.1% surge, and completions have posted a 9.2% two-month drop. Starts and permits are poised for quarterly rates of 1.031 M and 1.052 M respectively that still reflects a net weather-hit, after prior rates of 1.030 M for both in Q3 (was 1.031 for starts). Analysts still assume that weather at least partly disrupts the November data for new and existing home sales, as well as construction spending, alongside the flat November construction hours-worked figure.
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