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News For NOSYMBOL From The Last 14 Days
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September 19, 2014
12:30 EDTTreasury Action: supply next week could weigh on the front end of the curve
Treasury Action: supply next week could weigh on the front end of the curve, especially since the bond market is more defensive after the hawkish Dot Plot from the FOMC. The Treasury is selling $93 B in notes next week, including $29 B in 2-year paper, $35 B in 5s, and $29 B in 7s. When-issued yields are little changed this morning to lower currently, but the surge higher following Wednesday's Fed result has the 2-year rate testing 0.62% and the 5-year challenging 1.86%, both of which would be the highest stops in over 3 years. The wi 7-year is at 2.305%, having tested 2.335% (close to April's stop). Despite this run-up, yields may not attract strong domestic demand given the Fed is moving inexorably toward normalization. Many traders are also forecasting still higher rates with the 2-year projected to hit 0.70% and the 5-year at 2.0% before buyers come back. However, foreign investors should again support the auctions given short dated German yields are negative, while Japanese rates are near 0%. Meanwhile, curve strategies are difficult given uncertainty over the trajectory of the normalization process.
12:30 EDTU.S. equities have pulled back
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12:15 EDTTreasury Option Action: put selling in the belly
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11:05 EDTU.S. VIX equity volatility gapped below 12.0
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10:55 EDTEuro$ interest rate options: another heavy round
Euro$ interest rate options: another heavy round of trading has been the rule in the wake of the FOMC statement, higher dots and policy normalization crib sheet this week, though the price action has been relatively muted so far today. Among multiple packages there was a sale of 40k in November 68/71 put spreads against purchases of 10k in November 65/67 put spreads and 20k in 76/77 put spreads. This was thought to be a liquidation of upper strikes to put on purchases of the lower strikes to hedge against a deeper sell-off on the less benign interest rate outlook. There were others, including a sale of 10k in Blue December 72/73 call 1x2s, thought to be a roll-up to a higher strike. Also, a purchase of 40k in Green December 81/82/83/85 call condors was cited over the session. The December 2014 contract is a half-tick higher at 99.75, while the deferreds are mixed today, 0.5-1.0 ticks lower nearby, but 0.5-4.0 ticks firmer further out.
10:25 EDTDallas Fed dissenting hawk Fisher: concerns about financial excess
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10:15 EDTU.S. leading index edged up 0.2% to 103.8 in August
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10:15 EDTTreasury Action: yields backed up from lows
Treasury Action: yields backed up from lows following the opening pop in stocks, which were bolstered by the Baba IPO, while the as expected modest increase on the LEI left little discernable mark on the rate complex. Alibaba is indicated at $80-83 according to NYSE market makers compared to its $68 IPO price, but hasn't yet opened due to lack of sellers. The T-note yield reversed from lows of 2.6% to clear 2.62% again compared to overnight highs of 2.655%. The 2s-10s spread is holding at +204 bp.
09:57 EDTDeutsche Bank home/personal care analysts hold analyst/industry conference call
Brazilian Retail & HPC Analyst Moraes, European HPC Analyst Thompson and North American HPC Analyst Schmitz discuss the Brazilian HPC market and what global players have to say on an Analyst/Industry conference call to be held on September 22 at 10 am.
09:54 EDTCurrency volatility collapses on Scotland vote to remain in U.K.
CurrencyShares British Pound Sterling Trust October call option implied volatility is at 5 compared to level of 9 from September 18, December is at 4; compared to its 26-week average of 8 according to Track Data, suggesting decreasing price movement after Scotland voted remain in the U.K.
09:39 EDTAlibaba IPO, Scottish 'no' vote, quadruple witching to highlight session
U.S. equity futures held steady in positive ground during the pre-market trading session, leading to a higher open for the broader market. The early strength comes on the heels of last night's news that Scotland had voted in favor of remaining within the United Kingdom. The focus of investors today will be the opening of the initial public offering of Alibaba (BABA). It is also "quadruple witching," the quarterly event marked by the expirations of stock index futures, stock index options, stock options, and single stock futures. The event can lead to a volatile session and large volume, which be even more pronounced as the largest U.S. IPO in history takes place. In early trading, the Dow is up 79 points, the Nasdaq is up 14 points and the S&P is up 8 points.
09:30 EDTU.S. leading economic indicators preview:
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09:00 EDTTreasury Option Action: bullish positioning
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08:50 EDTFX Action: USD-CAD took a dive
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08:45 EDTU.S. equities rotated higher
U.S. equities rotated higher with global indices pretty diverse heading into Friday's gauntlet of the Scottish vote, which favored the status quo, and the Alibaba IPO that priced at $68/PS - the top end of its range. The Dow is 62-points higher, S&P gained 5-points and NASDAQ topped 13-points ahead of the open. Stocks around the globe were mixed, however, as Japan's N-225 surged 1.58% thanks to fresh cycle lows on the yen, while the Shanghai Comp rose 0.58%. But in Europe the Euro Stoxx 50 is marginally lower as Catalonia considers its future and the UK FTSE 100 is 0.6% firmer as the union with Scotland remained in place. Yahoo shares were active within the NASDAQ, given its sizeable Alibaba holdings. Oracle shares sank 3% after CO Ellison retired to be replaced by two co-CEOs Hurd and Catz. Leading indicators are expected to rise modestly in August, likely leaving less imprint on the price action than any futures and options settlements today.
08:36 EDTJPMorgan retail analysts hold an analyst/industry conference call
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08:30 EDTFX Action: USD-CAD is firmer
FX Action: USD-CAD is firmer into the Canadian CPI report at 8:30 EDT, moving up to intra day highs of 1.0980, after basing at 1.0940 in Asian dealings. Resistance is seen at 1.1000, with offers layered from 1.0980 to 1.1000. A softer than consensus CPI print however, could bring 1.1020 stops into view.
08:15 EDTTreasury Market Outlook:
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08:00 EDTOil Action: NYMEX crude is down 30 cents
Oil Action: NYMEX crude is down 30 cents at $92.77/bbl into the N.Y. open, off its recent lows, but finding rally room difficult in light of weak demand and strong supply. Traders do however, see a floor around the $90 mark, as the Winter heating season begins to gear up in the Northern Hemisphere, which should begin to bolster demand.
07:25 EDTN.Y. FX Outlook
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<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | all recent NOSYMBOL news | >>

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