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Stock Market & Financial Investment News

News Breaks
December 2, 2012
15:11 EDTMoody's downgrades EFSF and ESM, citing recent downgrade of France
Moody's Investors Service has downgraded the long-term issuer rating of the European Stability Mechanism, ESM, to Aa1 from Aaa, and is maintaining a negative outlook on the rating. At the same time, Moody's has also downgraded the provisional long-term rating for the Issuer Rating and debt issuance programme of the European Financial Stability Facility, EFSF, to (P)Aa1 from P(Aaa), and is also maintaining a negative outlook. The short-term issuer rating of the ESM remains unchanged at Prime-1, while the provisional short-term rating of the EFSF remains at (P)Prime-1. Moody's decision was driven by the recent downgrade of France to Aa1 from Aaa and the high correlation in credit risk which Moody's believes is present among the ESFS' and ESM's entities' largest financial supporters. Reference Link
News For NOSYMBOL From The Last 14 Days
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January 26, 2016
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
09:40 EDTFX Action: CAD-JPY is showing the biggest movement
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09:36 EDTOil price rebound helps lift stocks in early trading
Stock futures see-sawed throughout the pre-market trading session, ending with a higher open for the broader market. Oil prices bounced around as well, but when oil moved back above $30 a barrel, the futures moved with it. Investors are also pouring over the barrage of earnings reports and housing data that was generally in-line with expectations. In early trading, the Dow is up 143 points, the Nasdaq is up 25 points and the S&P is up 14 points.
09:20 EDTU.S. FHFA home price index rose 0.5% to 228.8 in November
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09:15 EDTTreasury Action: yields are consolidating above lows
Treasury Action: yields are consolidating above lows and the modest rises in home prices via FHFA and Case-Shiller did little to tip the scales with stocks and oil still above overnight lows. The 2-year yield has settled back above 0.85% compared to 0.827% overnight lows and the 10-year likewise rebounded from 1.96% to clear 2.01%. Yields are still slightly net lower on the session after all the overnight volatility. The 2s-10s spread is holding near +116 bp compared to +113 bp narrows overnight.
09:10 EDTU.S. Case Shiller home price index rose 0.06% to 182.86 in November
U.S. Case Shiller home price index rose 0.06% to 182.86 in November for the 20-City index after edging up 0.05% to 182.75 in October (revised down from 182.83). The annual pace improved slightly to 5.83% y/y from 5.50% y/y (revised from 5.54%). The 10-City index inched up 0.02% to 197.54 versus October's 197.51 (revised from 197.62), with the annual pace at 5.35% y/y compared to 5.02% y/y previously (revised from 5.08%). All 20 cities surveyed showed annual gains, paced by Portland (11.15%) and San Francisco (11.05%).
09:02 EDTFHFA House Price Index M/M change data reported
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09:02 EDTS&P/Case-Shiller Home Price Index data reported.
November S&P/Case-Shiller 20-City Composite Home Price Index up seasonally adjusted 0.9% month over month vs. consensus of 0.7%.
08:56 EDTRedbook Store Sales data reported
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08:50 EDTU.S. home price data preview:
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08:45 EDTEnergy Action: NYMEX crude recovered to $30.83
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08:40 EDTU.S. equities reversed into the green
U.S. equities reversed into the green with similar swing on crude oil after Iraq and Russia indicated that they would consider output cuts, which provided some psychic compensation to the markets after a 6.4% dive on the Shanghai Comp rattled nerves overnight. The Dow is 43-points higher, S&P gained 5-points and NASDAQ is up 10-points after reversing out of the red, while Europe is clawing back toward unchanged territory again from deeper losses of about -2%. Japan's Nikkei fell 2.3%, while the HK Hang Seng sank 2.4%. WTI crude oil is back over $30 bbl, but still roughly -1% lower compared to -3.5% lows overnight. Apple results are looming after the close, with focus on risk of slowing iPhone sales in China. Others on tap are 3M, while AIG agreed to shed its broker-dealer network and mortgage insurance units in a strategic reorg. Next up are home prices, services PMI and consumer confidence. The Fed starts its two-day FOMC deliberations as well.
08:35 EDTTreasury Action: positioning shows the most net shorts since early August
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08:00 EDTN.Y. FX Outlook
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08:00 EDTU.S. chain store sales fell 0.4% in the week ended January 23
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07:55 EDTFed funds are opening firmly in the 0.38% area
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07:50 EDTTreasury Market Outlook: Treasuries are little changed
Treasury Market Outlook: Treasuries are little changed, having given up overnight gains that were made on flight to quality trades. The front end is outperforming despite the advent of the FOMC meeting and supply. Declines in Asian equities, with China's Shanghai plunging over 6.4% (despite more PBoC liquidity) gave global bonds a boost, dropping the 10-year Treasury yield to 1.96%. But European bourses and U.S. equity futures have rebounded in tandem with oil's action and the note yield has moved back up over 2%. WTI crude turned around a better than 3% decline on reports that Iraq is willing to cut production if others follow suit. The March contract is at $30.54 bbl from a low of $29.25 bbl. In other news, BoE's Carney said now is not the time for the MPC to be hiking rates, though he defended the FOMC's actions. The FOMC kicks off its 2-day meeting this afternoon (participants who are deterred by the snow can participate via a video conference), and will release its statement tomorrow at 14:00 ET (there will be no press conference). The Fed won't tightening further, and is not likely to offer explicit forward guidance. There's a lot of data with January consumer confidence, the January flash services PMI, and November Case-Shiller and FHFA home price data, along with the January Richmond Fed index, as well as weekly chain store sales. The Treasury auctions $26 B in 2-year notes to initiate $105 B in coupon offerings. On the earnings front, a busy calendar will reveal quarterly reports from Apple, CA Inc., Capital One Financial, 3M, Corning, Chubb, DuPont, Freeport-McMoran, Johnson & Johnson, Lockheed-Martin, Parker-Hannifin, Proctor and Gamble, U.S. Steel, Vmware, and W. W. Grainger.
07:47 EDTBarclays industrials analysts hold an analyst/industry conference call
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07:31 EDTFOMC begins a two day meeting in Washington, D.C. January 26-27
07:20 EDTRussia may lower oil output if price pressures persist.
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