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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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August 18, 2015
16:20 EDTFitch upgrades Greece to CCC from CC
Fitch Ratings has upgraded Greece's Long-term foreign and local currency Issuer Default Ratings by one notch to 'CCC' from 'CC'. The issue ratings on Greece's senior unsecured foreign and local currency bonds have also been upgraded to 'CCC' from 'CC'. The Short-term foreign currency IDR has been affirmed at 'C'. The Country Ceiling has been raised by one notch to 'B-' from 'CCC'. Reference Link
15:15 EDTTreasury Closing Summary:
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14:25 EDTU.S. CPI Preview
U.S. CPI Preview: July CPI is out Wednesday and should reveal a 0.1% (median 0.2%) increase for the headline with the core index up 0.2% (median 0.2%) on the month. After leveling off briefly, oil prices resumed their decline in July which is likely to add downward pressure to the CPI release. This effect showed up in the already released July PPI where analysts saw a headline increase of 0.2% but which included a 0.6% decline for the energy component in July.
13:50 EDTChina's Economy To Undercut 7% 2015 GDP Target:
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13:25 EDTFed Policy Outlook: the FOMC meeting is a month away
Fed Policy Outlook: the FOMC meeting is a month away. If it were today, it would be a tough call for policymakers because of the many factors to be assessed. Key domestic data have generally been good enough to support liftoff on September 17. Indeed, GDP growth should hit at least 3.0% in Q2 and Q3. However, the FOMC isn't operating in a vacuum and ongoing weakness in commodity prices, the dollar's strength, and remaining uncertainties over the outlooks for China (and to some extent Greece) could tip the scales in favor of a delay, especially given the generally dovish leanings of the voting members, led by Yellen and Dudley. Analysts'll look for clues in the FOMC minutes Wednesday for the degree to which the various parameters might affect the decision. Tomorrow's data on July CPI will be of some importance too though it have lost some of its potency given the plunge in commodities.
13:05 EDTEnergy Action: October NYMEX crude
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12:25 EDTAtlanta Fed's GDPNow was boosted to 1.3% for Q3
Atlanta Fed's GDPNow was boosted to 1.3% for Q3 from the previous 0.7% estimate, as the measure catches up to the internals of Friday's industrial production report, though still some distance from the Blue Chip median estimate of 2.7%. "The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2015 is 1.3 percent on August 18, up from 0.7 percent on August 13. The forecast for real GDP growth increased from 0.7 percent to 1.2 percent after Friday's industrial production release from the Federal Reserve. Most of this increase was due to a 15.3 percent increase in seasonally adjusted motor vehicle assemblies in July that boosted the forecast of the contribution of real inventory investment to third-quarter GDP growth from -2.2 percentage points to -1.8 percentage points."
12:15 EDT Minneapolis Federal Reserve Bank President Narayana Kocherlakota Speech to be released at 20:20
12:05 EDTFX Action: USD-JPY got an early boost from the better U.S. housing data
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11:45 EDTTreasury's bill auctions were well received
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11:25 EDTTreasury Curve Action: steepeners have prevailed
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10:10 EDTU.S. corporate bond update: the calendar is fairly light
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09:45 EDTFX Action: USD-CAD traded lower
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09:25 EDTHousing starts beat estimates in July
Housing starts beat estimates in July with a new cycle-high, though permits fell sharply in July after a steep Q2 climb that was fueled by robust figures in the multi-family segment and the Northeast. Both series are entering Q3 at encouraging levels after big Q1-Q2 weather gyrations, and the bellwether starts under construction series posted a hefty 2.0% July climb that signals a solid quarter for residential construction in the Q3 GDP report, where analysts now expect a 3.0% headline gain to be accompanied by a solid 9% clip for real residential construction. Analysts still expect a Q3 GDP growth boost to 3.5% from 2.3%, with boost of $2 B in residential construction, $5 B in nonresidential construction and $10 B in public construction. For other housing reports, analysts expect a 2.7% July new home sales rise to a 495k rate and a 1.6% existing home sales drop to a 5.40 M rate. Analysts expect a 0.5% July construction spending rise, alongside a 0.7% July construction hours-worked rise drop a 6k jobs rise for the sector.
09:25 EDTShort-dated euro$ interest rate futures tripped lower
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09:07 EDTBarclays industrials analysts hold an analyst/industry conference call
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08:55 EDTU.S. equities are back under pressure
U.S. equities are back under pressure in the wake of more than 6% losses on Chinese indices again, while doubts about Greece's fiscal situation have resurfaced. Housing starts surprised on the upside and helped trim deeper losses. Wal-Mart shares also sank over 3% after an earnings miss and lower guidance. Though still above lows, the Yuan turned more volatile again after a couple steadier sessions were interrupted by a slump to 6.4150 before stabilizing. Commodity and energy prices remain under pressure, compounding the woes in EM trade. The Shenzhen sank 6.2%, while the Shanghai Comp fell 6.15% and Japan's Nikkei closed 0.32% lower. In Europe, the Euro Stoxx 50 is 0.2% lower, while the UK FTSE is 0.5% lower after hotter inflation readings and Athens is off 0.8%. The Dow is 42-points lower, S&P sank 5-points and NASDAQ is off 11-points ahead of the opening bell, above earlier lows. Home Depot gained 1% after improved same-store sales, while Esperion rallied 12% on progress fast-tracking its cholesterol drug.
08:50 EDTTreasury Action: yields backed up to highs
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08:45 EDTFX Action: The dollar edged slightly higher
FX Action: The dollar edged slightly higher after the housing starts data, as EUR-USD made new N.Y. session low of 1.1045, and as USD-JPY moved up from near 124.20 to 124.33. Equity futures remain moderately underwater, while yields are above session lows.
08:40 EDTU.S. housing starts edged up 0.2% in July to a 1,206k pace
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