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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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September 1, 2015
11:15 EDTTreasury Curve Action: the cash bond is underperforming
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11:10 EDTFX Action: USD-CAD is back over 1.3210
FX Action: USD-CAD is back over 1.3210, despite the better Canada GDP report earlier, with price action again being driven by the commodity market. WTI crude is down better than 6.5% on the day, trading to $45.8/bbl lows, as gold futures pare earlier gains, and copper prices remain heavy. The pre-GDP USD-CAD session high of 1.3233 is penciled in as initial resistance, though further oil losses could see that targeted in the near term.
10:50 EDTU.S. VIX equity volatility is up 8% near 30.80
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10:45 EDTThe 0.7% U.S. July construction spending rise beat estimates
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10:35 EDTEnergy Action: NYMEX crude is on session lows
Energy Action: NYMEX crude is on session lows of $46.45/bbl, down 5.4% from Monday's settlement. Soft global PMI's, talk of a downgrade in global growth from the IMF, a still over-supplied market (despite slowing U.S. production), and no real signs that OPEC, or any other producer will agree to production cuts, has seen the market second-guess at least some of the contract's spectacular recent rally. Sources are beginning to look for Monday's "gap" to be filled, which would translate into further declines to the $45 level.
10:25 EDTThe U.S. ISM August drop to a 51.1 two-year low
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10:20 EDTFX Action: The dollar fell
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10:15 EDTTreasury Action: yields stalled out again
Treasury Action: yields stalled out again after rebounding with stocks from their opening nadir, following NYSE "Rule 48" being invoked again in terms of drawing out the opening for stocks individually and collectively. The plunge in ISM was partly offset by the uptick in construction, but fit with the slippery slope of global PMIs overnight. Canada's back-to-back negative GDP prints also spawned fresh recession talk. The 2-year yield rebounded from 0.700% session lows to 0.732% before slipping back to 0.710%, while the 10-year yield had bounced from 2.15% to 2.19% before easing below 2.17% again. Treasuries never seemed to fully benefit from the equity slump, amid concerns China could liquidate more Bunds and Bonds pay for plunge protection into Thursday's WWII parade. The FT has pointed out that the bulk of China's holdings are in 5-year and below maturities.
10:10 EDTU.S. construction rose 0.7% in July
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10:10 EDTU.S. ISM manufacturing index fell to 51.1(median 52.7) in August
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10:01 EDTISM Mfg Index data reported
August ISM Mfg Index at 51.1 vs. consensus of 52.8
10:01 EDTConstruction Spending data reported
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10:00 EDTU.S. Markit manfacturing PMI (final) revised up to 53.0
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09:45 EDTU.S. Auto Sales Preview
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09:45 EDTFX Action: USD-JPY has been range bound
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09:44 EDTStocks begin new month with losses
Stock futures were sharply lower throughout the pre-market trading session, leading to a lower open for the broader market. The market is coming off its worst monthly performance since May 2010 and is beginning September with losses of roughly 2%. September is historically the worst performing month for the averages and today's open does not bode well. Investors will be watching reports on construction spending and manufacturing that are due out shortly. Ahead of the domestic data, the Dow is down 325 points, the Nasdaq is down 77 points and the S&P is down 37 points.
09:40 EDTU.S. Manufacturing ISM Preview
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09:40 EDTU.S. Construction Spending Preview
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09:15 EDTEuro$ interest rate futures have perked up
Euro$ interest rate futures have perked up as stocks extended their slide into the open following PMIs toppling around the globe overnight. Fedspeak resumes later as well, but from the dovish camp of Boston's Rosengren. The December 2015 contract is 1.5-ticks higher near 99.535 (0.465% implied 3-month rate) vs lows of 99.515 (0.485%) yesterday, while the deferreds are 2-6.5 ticks firmer out the curve. So far, the stock market swings have been smoothed out and having left a lasting impression on the Fed outlook, but another few days of stock market volatility and any large data miss will collapse expectations for a September hike.
08:55 EDTRedbook Store Sales data reported
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