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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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January 30, 2015
10:05 EDTTreasury Action: yields bottomed out
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10:00 EDTFX Action: The dollar rallied slightly
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09:55 EDTU.S. Chicago PMI rose to 59.4 in January
U.S. Chicago PMI rose to 59.4 in January after sliding to 58.8 in December (revised up from 58.3). The index is still below the recent high of 64.3 in August, the cycle high of 65.1 from October 2013, and the record high 67.7 from March 2011. But it's still been in expansionary territory for 21 straight months (the last time it was below the 50 expansion-contraction mark was April 2013 when it dropped to 49.5).
09:48 EDTMarket opens lower, turns mixed in early trade after GDP report
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09:45 EDTU. Michigan sentiment preview:
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09:40 EDTThe 0.6% U.S. Q4 ECI rise beat estimates
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09:40 EDTThe 2.6% U.S. Q4 GDP growth clip
The 2.6% U.S. Q4 GDP growth clip undershot estimates due to big downside surprises in the fixed investment, net export, and government components that overwhelmed a huge inventory overshoot that left a whopping $113.1 B accumulation rate. Our Q1 GDP estimate will remain at 2.5% until analysts can review Monday's income report, but the risks now lie to the downside given risk of a hefty Q1 inventory reversal that may ghost the similar pattern seen last year at this time. The average real GDP clip for the expansion rose slightly to 2.4% in Q3 and Q4 from 2.2% in Q2 and 2.1% in Q1, but a similar 2.3% in Q3 and Q4 of 2013. Average nominal GDP growth for the expansion sat at a 3.9% average over the three quarters ending in Q4. Real and nominal GDP growth are still oscillating around a "long-run" rate that is only just sustainable, despite an ongoing output-gap. The Q4 GDP figures depict a quarter with solid "real" consumption growth thanks to plunging oil prices, but with weakness in the remaining spending components alongside a dangerous inventory overbuild.
09:40 EDTChicago PMI preview:
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09:30 EDTFX Action: The dollar is trading mostly higher
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09:21 EDTBofA/Merrill Italian economist to hold an analyst/industry conference call
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09:20 EDTTreasury Option Action: some bullish positioning
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09:20 EDTFed's Bullard thinks the markets are too dovish in their policy outlooks
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09:05 EDTU.S. equities stumbled ahead of the open
U.S. equities stumbled ahead of the open after deflationary Eurozone data was followed by weaker than expected headline Q4 GDP that rose just 2.6% vs 5.0% in Q3, while the ECI rose 0.6%. The Nikkei rose 0.39%, but the Euro Stoxx 50 is 0.45% lower. The Dow sank 181-points, S&P fell 21-points and NASDAQ is off 24-points, extending losses in pre-market action. Earlier corporate news was mostly positive, after Amazon shares surged 11% after a bumper crop of holiday online sales, while Google's topline growth climbed, though it's bottom-line was dented by online ad demand and FX translation costs. Visa surged 3.7% after strong earnings and a stock split, though Mattel shares sank over 1% after posting consecutive quarterly losses. Gold rebounded a tad to $1,283, while WTI crude is holding above $44 bbl. Up next is a follow-up round of Chicago PMI and U. Michigan updates.
09:00 EDTU.S. GDP grow slowed to a 2.6% pace in Q4
U.S. GDP grow slowed to a 2.6% pace in Q4, much softer than expected, countering Q3's surprisingly robust 5.0% rate. Consumption spending increased a healthy 4.3% versus Q3's 3.2% clip, while fixed investment slid to a 2.3% rate versus 7.7%. Government spending contracted 2.2% versus the hefty 4.4% increase previously. Inventories added a strong $30.9 B (0.82%) after subtracting $2.6 B (-0.03%) in Q3. On the other hand, net exports subtracted $40.1 B (-1.02%) last quarter after adding a big $29.0 B (0.78%) previously. The chain price index dropped to a flat reading in Q4 versus a 1.4% gain in Q3, while the core rate slipped to a 1.1% clip versus 1.4%.
09:00 EDTFX Action: USD-CAD resumed its charge higher
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08:50 EDTU.S. ECI rose 0.6% in Q4
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08:45 EDTU.S. GDP grow slowed to a 2.6% pace in Q4
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08:45 EDTTreasury Action: yields took another stab lower
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08:45 EDTFX Action: The dollar initially fell
FX Action: The dollar initially fell against the euro and yen following the softer GDP headline, which was offset to a degree by stronger consumer spending. EUR-USD moved from 1.1310 to 1.1335, as USD-JPY dipped from 117.70 to under 117.50. Equity futures took a tumble after the data, as yields fell back as well.
08:33 EDTFutures continue to indicate sharply lower open
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<< 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 | all recent NOSYMBOL news | >>

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