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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
Check below for free stories on NOSYMBOL the last two weeks.
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July 15, 2014
10:25 EDTYellen fired a shot across the bows of exuberance
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10:25 EDTFX Action: The dollar turned broadly lower
FX Action: The dollar turned broadly lower on the back of slippage in U.S. yields, and at first glance, a dovish FX market take on Yellen's prepared statements, where conditions continue to warrant ongoing accommodation. EUR-USD, which had been flirting with London lows under 1.3590, popped back over 1.3610, while interest rate sensitive USD-JPY posted intra day lows of 101.44, after peaking at 101.65 earlier. The pound and CAD also printed intra day highs.
10:20 EDTU.S. business inventories rose 0.5%
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10:20 EDTTreasury Action: yields plunged with the fresh BES turmoil
Treasury Action: yields plunged with the fresh BES turmoil after the Portuguese bank's holding company appeared likely to file for protection. That sent the T-note yield lower from 2.56% session highs (after firm Empire) to lows of 2.52% in sympathy with Bunds. But Yellen's shot across the bows of the markets in terms of sooner and more rapid rate hikes if the jobs sector improves more quickly has helped put a floor under yields and the T-note migrated back over 2.53% again. The 2s-10s spread is stuck at +208 bp.
10:17 EDTYellen says valuation metrics 'generally in line with historical norms'
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10:15 EDTFed Chair Yellen reiterated significant slack remains in the system
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10:02 EDTCenter for Security to hold a luncheon symposium
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10:00 EDTBusiness Inventories data reported
May Business Inventories up 0.5% for the month
09:55 EDTU.S. Business Inventories Preview:
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09:45 EDTThe U.S. trade price report
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09:44 EDTEarnings, economic data lift averages at open
Stock future improved during the pre-market trading session, leading to a higher open for the broader market. The futures were helped by better than expected earnings reports from JP Morgan (JPM), Goldman Sachs (GS), and Johnson & Johnson (JNJ), as well as the best Empire Manufacturing reading in more than 4 years. Early in trading the Dow has set a new all-time high and S&P is near its all-time high. About 15 minutes after the opening bell, the Dow is up 52 points, the Nasdaq is up 9 points and the S&P is up 5 points.
09:30 EDTThe 0.2% June retail sales headline gain
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09:25 EDTU.S. import prices rose 0.1% in June, with export prices slipping 0.4%
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09:25 EDTTreasury Option Action: fairly quiet trade
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09:20 EDTFed Policy Outlook: Fed Chair Yellen presents her
Fed Policy Outlook: Fed Chair Yellen presents her Monetary Policy Report to Congress at the top of the hour (and again tomorrow). Analysts look for a cautiously optimistic outlook on the economy and expectations for a pick up in inflation from Yellen. However, the recent wobble with Portugal's Banco Espirito suggests financial stability is still very much an issue. Analysts don't expect her to go into much more depth or provide real specifics regarding the exit strategy since it's still being formulated within the FOMC. She will likely echo the June FOMC Minutes and indicate QE should be completed by October if all goes according to plan, but she won't say when the first rate hike will occur. Such comments may not sound as dovish as some of her recent speeches. But analysts suspect that will be more a function of the venue and the fact that she is speaking for the whole of the FOMC. She'll also elaborate a bit on the discussion in the Minutes that IOER should be the central tool of normalization, with overnight repos and the term deposit facility taking on more of a secondary role.
09:05 EDTU.S. equities have probed higher
U.S. equities have probed higher in the wake of the first round of data, which included a retail sales miss, trade price shortfall and a sizable Empire State beat ahead of Yellen monetary policy testimony this afternoon. At least for the stock market, the mixed data essentially cancelled itself out. This followed a generally upbeat tone on stocks in Asia, but fresh indigestion in Europe after weak German ZEW, a jump in UK inflation and a fresh downturn in Portugal. Earnings news in financials was also front-and-center with releases from JPM and Goldman, which rallied after handily beating the Street. The Dow is 30-points firmer, S&P gained 2-points and NASDAQ is 8-points higher in pre-market action. In M&A, Reynolds agreed to purchase Lorillar for $27.4 B , while Albearle plans to buy Rockwood Holdings for $6.2 B. An analyst upgrade boosted Plug Power 10%, while GoPro rallied 5.5% after JMP Securities issued a "market perform" on the new stock. Business inventories and Yellen testimony are on tap next.
08:55 EDTRedbook Store Sales data reported
Week of 7/12 Redbook Store Sales up 4.1% for the year
08:55 EDTThe Empire State rose to 25.60 four-year high
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08:50 EDTU.S. Empire State manufacturing index climbed 6.3 points to 25.6 in July
U.S. Empire State manufacturing index climbed 6.3 points to 25.6 in July after edging up to 19.3 in June. This is the highest level since 2010. However, the internals were mixed. The employment component rose to 17.1 from 10.8, though the workweek dipped to 2.3 from 9.7. New orders were little changed at 18.8 from 18.4. Prices paid jumped to 25.0 from 17.2, with prices received at 6.8 from 4.3. The 6-month business conditions index slipped to 28.5from 39.8. The 6-month employment component was 17.1 from 20.4, with capital expenditures at 9.1 from 11.8.
08:50 EDTTreasury Action: yields waffled after the data onslaught
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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 | all recent NOSYMBOL news | >>

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