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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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March 25, 2015
09:09 EDTSenate Banking, Housing & Urban Affairs Committee to hold a hearing
The Committee holds a hearing entitled, "Financial Stability Oversight Council (FSOC) Accountability: Focusing on Non-Bank Designations" with Secretary of the U.S. Treasury, Jack Lew on March 25 at 2 pm. Webcast Link
08:55 EDTU.S. equities steadied above lows
U.S. equities steadied above lows with Europe negative again on Grexit fears resurfacing. Durable goods orders fell 1.4% in February after a revised 2.0% rise in January, predictably surrendering some of its prior-month gains. In M&A, news of a $40 B mega-merger between Kraft and H.J. Heinz hit the tape, creating the third largest food and beverage corporation of its kind. That saw Kraft shares surge over 35% in pre-open trade after the purchase by 3G Capital and Berkshire. Kofax also surged 46% after agreeing to a merger with Lexmark. Stocks in Europe are down again with the Euro Stoxx 50 off 0.7% and yet Athens is 3.6% higher. In the U.S., the Dow is 18-points lower, S&P slid a point and NASDAQ is 2-points firmer in pre-market action. The WSJ is talking down biotech shares, which it claims could be fueling a "bubble" in the tech sector after a 240% gain in the sector since 2012 relative ot hte NASDAQ 100's 82% rise.
08:50 EDTHouse Agriculture Committee to hold a hearing
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08:45 EDTU.S. durable goods orders dropped 1.4% in February
U.S. durable goods orders dropped 1.4% in February after a 2.0% January gain (revised down from 2.8%). Weakness was broad-based. Transportation orders fell 3.5%, with orders excluding transportation down 0.4% after a 0.7% decline previously (revised from a 0.3% gain). Nondefense capital goods orders excluding aircraft slid 1.4% lower versus January's -0.1% (revised from 0.6%). Shipments dipped 0.2% after falling 1.4% previously (revised from -1.0% originally), with nondefense capital goods shipments ex-aircraft up 0.2% versus -0.4% previously (revised from -0.3%). Inventories were up 0.3%. The inventory-shipment ratio edged up to 1.69 from 1.68. Data are much weaker than expected and should support gains in Treasuries while weighing on stocks and the dollar.
08:40 EDTFX Action: The dollar moved lower
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08:40 EDTTreasury Action: yields probed lower
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08:34 EDTFutures ignore durable goods report
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08:20 EDTU.S. Durable Goods Preview
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08:15 EDTEnergy Action: NYMEX crude was range bound
Energy Action: NYMEX crude was range bound overnight, trading between $46.99 and $47.68. API inventory data reported on Tuesday revealed another U.S. stock build, rising 4.8 M bbls, and bringing total stocks to over 450 M bbls, an all-time high. EIA data will be reported at 10:30 EDT, where a 4.0 M bbl stock increase is expected. There has been talk lately of storage facilities being nearly full in the U.S., which is not a good sign for oil bulls, especially going into the spring refinery maintenance period, where crude demand will lessen. RBOB gasoline is steady over $1.81/gallon, while U.S. average retail gasoline is up a penny/gallon from Tuesday, at $2.42, according to AAA data. Natural gas futures are trading in the middle of their recent range, currently at $2.77/M BTU.
08:05 EDTJefferies cosmetic dermatology analysts hold analyst/industry conference call
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07:50 EDTFed dove Evans repeated he's in favor of delaying rate hikes until 2016
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07:38 EDTHouse Judiciary Committee to hold a hearing
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07:35 EDTTreasury Market Outlook: Treasuries are little changed to higher
Treasury Market Outlook: Treasuries are little changed to higher, extending gains for a 4th straight session. Core European sovereigns and most Asian bonds outside of Japan are also in rally mode. The 10-year yield has dipped to 1.86% in light volume. U.S. equity futures have headed south in tandem with European bourse as Grexit fears flare up again. There wasn't much data of note overnight. Korean Q4 GDP growth was unrevised at 2.7%. Germany's Ifo beat forecasts, rising to 107.9, while French business confidence unexpectedly dipped to 99. Today's U.S. slate includes the $35 B 5-year sale, and the $13 B 2-year FRN reopening. Durable goods for March highlight the data calendar. The MBA reported mortgage applications surged 9.5% in the week ended March 20. Earlier the Fed's Evans said the U.S. economy is very strong, but reiterated concerns over raising rates too soon.
07:35 EDTU.S. MBA mortgage market index rose 9.5%
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07:32 EDTThe SEC to hold an open commission meeting
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07:30 EDTBofA/Merrill to hold a conference
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07:30 EDTUBS to hold a conference
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07:27 EDTFDA and Xavier University co-host a conference
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07:22 EDTBofA/Merrill to hold a conference
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07:21 EDTFinancial Research Associates to hold a summit
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