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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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April 29, 2015
09:02 EDTSEC to hold an open commission meeting
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09:00 EDTThe 0.2% U.S. Q1 GDP growth clip
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08:50 EDTFX Action: The dollar slid across the board
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08:50 EDTU.S. equities are back on the defensive
U.S. equities are back on the defensive rolling into the Fed decision, especially after the small 0.2% rise in Q1 GDP, though that "bad news" could be music to the ears of investors hoping for a deferral of Fed lift-off if the Fed is more dovish this afternoon. This followed a tame session in Asia with Japan out on holiday and a flat reading on the Shanghai Comp, while the Euro Stoxx 50 is off 0.5%. The Swedes left rates unchanged, which prompted a surge in the krona and another 1.6% drop in the OMX. Bund yields also surged past 0.25% after Gundlach of Doubleline joined Gross of Janus in his anti-bund bet. The Dow is 103-points lower, S&P fell 10-points and NASDAQ sank 23-points ahead of the open. In earnings news, Time Warner rallied over 1% after its 5% revenue gain, while Twitter steadied after its 24% overnight fall upon cutting its guidance. Lumber liquidators sank 15% after a 2% decline in net April sales to-date.
08:45 EDTU.S. GDP growth slowed to a disappointing 0.2% rate in Q1
U.S. GDP growth slowed to a disappointing 0.2% rate in Q1, much weaker than expected, after sliding to a 2.2% clip in Q4, from 5.0% in Q3. Weakness was fairly broad-based. Fixed investment declined 2.5% after Q4's 4.5% rise, versus Q3's 7.7% rate, with nonresidential spending diving 3.4% after a 4.7% Q3 gain, thanks to a 23.1% plunge in structures; residential spending rose 1.3% from 3.8%. Government consumption remained soft, falling 0.8% from -1.9%, with state and local spending down 1.5%. Net exports subtracted $50.7 B (-1.25%) from -$40.0 B in Q4, and after adding $29.0 B in Q3. Consumption spending was up 1.9% versus 4.4% previously. Inventories added $30.3 B (0.74%) after subtracting $2.2 B in Q3 with a hefty $110.3 B accumulation rate. The chain price index slid 0.1% after edging up 0.1% in the prior quarter, with the core rate up 0.9% from the 1.1% pace recorded previously.
08:45 EDTTreasury Action: yields reversed course from highs
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08:40 EDTFutures move lower following GDP report
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08:30 EDTU.S. GDP Preview
U.S. GDP Preview: The first release of Q1 GDP should reveal a 0.8% (median 1.0%) pace of growth for the quarter. This follows the stronger pace of 2.2% in Q4 and 5.0% in Q3. The outlook has deteriorated steadily over the course of the quarter thanks to a number of factors including weaker trade data, inclement weather and a soft run of inventory data.
08:10 EDTWhat the Pros think before the Fed decision:
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08:00 EDTEnergy Action: NYMEX crude traded down to $56.53
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07:45 EDTN.Y. FX Outlook
N.Y. FX Outlook: The dollar was mostly lower overnight, though yields sensitive USD-JPY managed modest gains over 119.30 as U.S. yields moved higher, with the 10-year back over 2.0%. The European major currencies slipped however, led by EUR-USD's charge over 1.1000. The move came as Greece optimism improves with the installation of a new negotiating team, and ahead of what could be a more dovish FOMC announcement,. The 8:30 EDT release of U.S.Q1 GDP could set the tone for the morning, though given recent eroding expectations, an upside surprise could result in a dollar rebound. March pending home sales data are due at 10:00 EDT, followed by weekly EIA petroleum inventory data at 10:30 EDT. The FOMC announcement comes at 14:00 EDT.
07:40 EDTTreasury Market Outlook: Treasuries are weaker amid a mass exodus
Treasury Market Outlook: Treasuries are weaker amid a mass exodus from bonds overnight. Trading volume was on the thin side, however, with Japan closed for its Showa Day holiday. Peripheral bonds are underperforming in general amid the new look Greek negotiating team. Germany is leading the decline in core bond markets with the 10-year Bund up over 8 bps to 0.245%, the highest since March 17 (the day before the more dovish than expected FOMC announcement) after a disappointing 5-year Bobl sale as CPI and Eurozone bank lending data picked up. Sources also say bond bears were out in force amid comments from Janus' Gross that Bunds are "the short of a lifetime." The ECB also increased the ceiling on Greece's ELA assistance. In other news, the Bank of Thailand cut rates 25 bps to 1.50%. Attention will now turn to the FOMC and its 14:00 ET policy announcement. It should mostly be a non-event. Data is light with just Q1 GDP, which is expected to slow sharply, and pending home sales. The MBA reported mortgage applications fell 2.3% in the week ended April 24. Also today is the $29 B 7-year auction, with the 13:00 ET bid deadline prior to FOMC's announcement, and that could limit buying. Also there's the $15 B 2-year FRN (11:30 ET). As for earnings, Carlyle Group, Deutsche Bank, Franklin, GFI, Hilton, Thomson Reuters, and Time Warner headline.
07:40 EDTU.S. MBA mortgage market index sank 2.3%
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07:29 EDTExecutives' Club of Chicago to hold a breakfast discussion
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07:27 EDTDeutsche Bank to hold a conference
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07:25 EDTFSXInterlinked to hold a conference
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07:25 EDTFSXInterlinked to hold a conference
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07:11 EDTFutures quiet ahead of data filled day
Stock futures are trading lower as investors pore over the latest round of earnings reports and get set for the next wave of results today. Investors will also examine the Fedís statement following its two day meeting. The statement is due to be released at 2:00 pm ET. Prior to that, investors will be reacting to reports on GDP and personal consumption, as well as the Department of Energy inventory reports.
06:50 EDTFX Update: EUR-USD pushed above 1.1000
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06:10 EDTOn The Fly: Morning Wrap-Up for April 29
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