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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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August 28, 2015
13:25 EDTFX Action: USD-CAD has made intra day lows
FX Action: USD-CAD has made intra day lows of 1.3197, after topping at 1.3299 early in the session. Another surge in oil prices has been the catalyst for the selling, though corporate bidding interest is said to be moving in from the 1.3200 level.
13:20 EDTEnergy Action: Baker-Hughes rig count data
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13:15 EDTOther Fedspeakers will follow next week
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12:55 EDTFX Action: USD-JPY has topped out at 121.48
FX Action: USD-JPY has topped out at 121.48, with support most recently coming from a hawkish reading on interest rates from the Fed's VC Fischer. The pairing traded above Thursday's 121.40 peak, effectively unwinding the vast majority of losses seen on Monday, when the world was hit with China's meltdown. USD-JPY has recovered 4.5% from Monday's 116.15 lows. Better incoming Japanese data last night likely slowed today's rally, as expectations for further Japan stimulus have eased somewhat since.
12:45 EDTEnergy Action: NYMEX crude has been on another tear
Energy Action: NYMEX crude has been on another tear higher, up nearly 7% on the day, making for a two-day rally of around 16%. The contract has topped at $45.53 levels last seen August 11, after bottoming at $41.84 early in the session. Gasoline futures are up 10 cents/gallon over $1.53, virtually wiping out their sharp looses for the week.
12:20 EDTNow Atlanta Fed moderate Lockhart said he's less resolute
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12:00 EDTTreasury Action: despite a very calibrated interview from Fed VC Fischer
Treasury Action: despite a very calibrated interview from Fed VC Fischer yields jerked higher on his CNBC interview, apparently witnessing a higher probability of a hike in September, though he gave no such signal. Just the fact that he didn't rule it out appeared sufficient cause for now to jump to that conclusion. The 2-year yield shot over 2 basis points higher to clear 0.72%, while the T-note vaultd from 2.17% to test 2.19%. Former Dallas Fed chief Fis(c)her subsequently on CNBC said the interview was very balanced (as was Dudley's), but he himself believes the Fed should go ahead hike. The Fed VC was extremely careful to avoid any media traps or land mines, but the markets reaching its own conclusions.
11:50 EDTFX Action: The dollar rallied after Fed VC Fischer
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11:45 EDTFed VC Fischer said its too early to tell
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11:25 EDTAtlanta Fed's GDPNow for Q3 was revised down to 1.2%
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10:25 EDTThe August Michigan sentiment drop to 91.9
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10:15 EDTFX Action: The dollar is on session highs
FX Action: The dollar is on session highs versus the yen and euro, despite the U. of Michigan sentiment miss. Wall Street is paring its losses as well, while yields slipped. USD-JPY touched 121.02 highs, up from under 120.90, as EUR-USD dipped to 1.1230 from 1.1245.
10:15 EDTTreasury Action: yields extended their morning decline
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10:10 EDTU.S. Michigan Consumer Sentiment was revised lower to 91.9 in August
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10:00 EDTGuggenheim S&P 500 Equal Weight ETF volatility elevated on wide price movement
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09:55 EDTU.S. mutual fund redemptions in BOTH stocks and bonds
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09:45 EDTS&P slips in early trading, still on pace for weekly gain
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09:35 EDTU.S. Michigan Consumer Sentiment Preview
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09:15 EDTThe U.S. income and consumption figures
The U.S. income and consumption figures revealed a modest underperformance for spending in July that left an uptick in the savings rate to 4.9% in July from 4.7% in June (was 4.8%) and 4.8% (was 4.7%) in Q2 overall, as consumers remain reluctant to spend the savings form lower gasoline prices. Our Q3 GDP growth estimate was left at 3.0%, but our "real" consumption growth forecast was trimmed to 3.1% (was 3.4%) with a 4.4% (was 5.1%) nominal clip, after Q2 rates of 3.7% for GDP, 3.1% for "real" consumption, and 5.4% for nominal consumption. Despite market concerns about Q3 GDP underperformance, analysts expect solid Q3 nominal growth of 5.0% for personal income and 4.9% for disposable income, after smaller respective Q2 rates of 3.8% (was 3.9%) and 3.5% (was 3.7%), and weak Q1 rates of 3.4% (was 3.2%) and 1.9% (was 1.8%). Analysts're expect 2015 growth of 4.3% for personal income but just 3.6% for disposable income thanks to a hefty 9.1% pace for tax payments that reflects an upward ratcheting of tax receipts starting in January, and firmness in tax payments through the April tax date.
09:00 EDTMinneapolis Fed uber-dove Kocherlakota doesn't want to be hasty
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