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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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September 29, 2014
08:45 EDTOil Action: NYMEX crude is down 24 cents
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08:45 EDTTreasury Action: yields have rotated lower
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08:40 EDTFX Action: The dollar edged higher
FX Action: The dollar edged higher after the about in-line income and consumption data, taking EUR-USD back under 1.2700, and USD-JPY over 109.40. Equity futures remain deep in red territory, while yields are a touch easier than opening levels.
08:34 EDTFutures remain lower following economic data
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08:30 EDTU.S. Personal Income Preview
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08:20 EDTChicago Fed's Evans said it will be "quite some time" before the Fed hikes
Chicago Fed's Evans said it will be "quite some time" before the Fed hikes rates as he tried to explain what "considerable time" means, in a CNBC interview ahead of the NABE meeting in Chicago. The ultimate decision on rate liftoff will depend on the consensus view of the Committee. While he suggested June is a good bet, in his own view he'd be more comfortable with something beyond that as he wants to ensure the 2% inflation target is hit. It's ok to go a little past that too, he thinks. On why extreme measures are still being used by the FOMC, he said "you've got to be kidding me" and referred back to the stagnating situations in Europe and Japan, which have had to backtrack after starting to raise rates. He did not really answer the question of whether forward guidance language will have to change before the Fed starts raising rates and he's quite comfortable with the current language. These aren't surprising comments from one of the most dovish members of the FOMC. Note he rotates into voting status in 2015.
07:55 EDTN.Y. FX Outlook
N.Y. FX Outlook: The dollar traded on a affirmer footing in London trade, though has given back gains into the N.Y. open. EUR-USD made new trend lows of 1.2664, though has since edged over 1.2700, as USD-JPY posted multi-year highs of 109.74, before falling back under 109.40. Both the yen and euro remain in sell-the-rally mode however, as both the BoJ and ECB remain on easing paths. The ECB meeting this week should not result in full-scale QE, though dovish noises from the Bank should keep the euro pressured. The U.S. calendar reveals August personal income and PCE at 8:30 EDT, followed by August pending home sales at 10:00 EDT, and the Dallas Fed index at 10:30 EDT.
07:40 EDTTreasury Market Outlook: Treasuries are a little higher
Treasury Market Outlook: Treasuries are a little higher, as are core European debt markets, as equities lose traction. The yield on the 10-year note has fallen to 2.50% and the German Bund is holding under 1.0%. Trading has been on the light side. Overseas data were mixed with a slightly higher than expected German HICP offsetting a dip in the ESI economic confidence measure. U.K. lending data was also a little above forecasts. It's a hectic schedule in the U.S. as Q3 comes to an end. There are many key reports this week to help guide the outlook on the economy, including Friday's employment numbers. Month- and quarter-end dynamics could distort flows, while all trading will also be sensitive to the ECB meeting (Thursday). Today's data on August personal income and consumption will be important for fine tuning Q2 and Q3 GDP forecasts. There are also pending home sales for August and the September Dallas Fed manufacturing index. There will be comments from the dovish Chicago Fed president Evans who speaks at an economics conference. The NY Fed will be a buyer of $2.0 B to $2.5 B notes ranging in maturity from November 15, 2021 through August 15, 2024.
07:30 EDTFutures lower as market volatility continues
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07:29 EDTChicago Federal Reserve Bank President Evans to speak at annual meeting
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07:28 EDTFDA Food Advisory Committee to hold a meeting
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07:21 EDTCitigroup to hold a symposium
Frontier Markets Symposium to be held in London, England on September 29-30.
07:19 EDTBTIG to hold a conference
Emerging Technologies in Healthcare Diagnostics Conference to be held in New York on September 29-30.
07:15 EDTFood & Drug Law Institute to hold a conference
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07:13 EDTDA Davidison semicap equipment analyst holds an analyst/industry conference call
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07:10 EDTFX Update: The dollar extended to fresh highs
FX Update: The dollar extended to fresh highs against most of the main currencies as markets continued to digest the strong U.S. growth number of last week. EUR-USD logged a fresh 22-month low at 1.2669, which is just seven pips short of the November 2013 low. The euro lifted following perkier than expected German state CPI numbers and a rise in Spanish HICP, but the move stalled just shy of 1.2700. The market remains keen to sell the euro on rallies ahead of this week's ECB meeting in light of Draghi's "risk of doing too little outweigh risks for doing too much" speech last week. USD-JPY broke through 109.50 option barriers on route to a new six-year peak at 109.74. AUD-USD saw a new nine-month low of 0.8664. NZD-USD saw sharp losses after the publication of RBNZ forex transaction data, which showed that the central bank sold NZD 521 M last month in an intervention initiative to drive the currency lower. The NZD logged a 13-month low at 0.7708. New Zealand PM also said that the "Goldilocks" level for the NZ dollar is around 65 cents.
07:05 EDTFX Update: The dollar extended to fresh highs
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05:59 EDTOn The Fly: Morning Wrap-Up for September 29
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05:56 EDTOctober front month equity options last day to trade is October 17, 2014
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03:45 EDTFX Action: USD-JPY broke through 109.50 option barriers
FX Action: USD-JPY broke through 109.50 option barriers earlier on route to a new six-year peak at 109.74. The move reflected broad dollar gains as the market continued to digest the strong U.S. growth number of last week. PM Abe said that a decision must be made by year-end about whether the economy could cope with a second sales tax increase next year, while BOJ’s Kuroda said that the moderate recovery trend should persist. Analysts are expecting USD-JPY to breach 110.00, which is a reportedly major option barrier level.
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