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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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April 8, 2015
09:55 EDTTreasury 10-year auction outlook:
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09:41 EDTMarket opens slightly higher after energy megadeal
Stock futures drifted higher throughout the pre-market trading session, leading to a slightly higher open for the broader market. The market is looking to log it second consecutive higher weekly close, which is something it has not done in a couple of months. There economic calendar is light again, but investors will be watching the weekly Department of Energy inventory levels, especially in light of Shell's (RDS.A) $70B deal to buy rival BG Group (BRGYY). The big economic event of the day will come this afternoon, with the release of the minutes from last month’s FOMC meeting. In early trading, the Dow is up 66 points, the Nasdaq is up 23 points and the S&P is up 6 points.
09:30 EDTTreasury Option Action: some bullish demand
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09:10 EDTFormer Fed Chief Bernanke has a book title now
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09:06 EDTBarclays to hold a symposium
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09:05 EDTMore from Fed's Powell: significant slack remains
More from Fed's Powell: significant slack remains in the labor market with NAIRU estimated at 5%, while analysts're nearing the point that ZIRP is no longer appropriate. High levels of part time workers and low participation rate are factors. Again, he says the Fed doesn't need to rush to the starting line on rate hikes and will closely watch data between now and June. He believes that continued jobs growth could improve confidence that inflation will move higher over the medium term, and he would be willing to hike at even the current inflation rate if confident of eventual price gains. Powell said the Fed can't wait until the goal posts are in view. He also sees ECB policy as supportive of demand in Europe and helpful overall to the U.S. He's not worried about gaps between market and Fed expectations and doesn't foresee an asset bubble, though liquidity in some fixed income markets raises concern.
08:55 EDTEnergy Action: NYMEX crude eased back
Energy Action: NYMEX crude eased back from its two-month peak of $54.09 posted on Tuesday, currently trading at $52.80, after touching a session low of $52.55. Prices pulled back after Saudi Arabia reported record production in March, while the API reported a weekly U.S. stock build of 12.2 M bbls, much higher than the 4.0 M bbl estimate. EIA inventory data is due at 10:30 EDT. RBOB gasoline prices pulled back to $1,81/gallon from Tuesday highs of $1.86, leaving U.S. average retail gasoline at $2.39/gallon, from $2.40 a week ago, according to AAA data. Natural gas futures are range bound, trading currently at $2.63/M BTU.
08:54 EDTCowen metals/steel analysts hold an analyst/industry conference call
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08:50 EDTCowen transportation analysts hold an analyst/industry conference call
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08:25 EDTMore Fedspeak from NY Fed dove Dudley
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08:24 EDTBofA/Merrill MENA economist holds an analyst/industry conference call
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08:20 EDTFed Governor Powell expects rate hikes later this year
Fed Governor Powell expects rate hikes later this year and warns that they will need to be initiated well before the Fed hits its inflation and employment goals given lags in monetary policy. He believes that the U.S. economy is nearing full employment, but the effects of the crisis make it difficult to judge just how much slack remains. In that regard, the Fed should seek a little more proof that labor and other markets have tightened. Powell believes that low inflation will be a temporary result of shocks such as low oil prices and the dollar rise. He's not so much concerned with the timing of rate lift-off than the likely gradual pace. On balance he sounds a tad dovish, though on board with policy tightening.
08:14 EDTArgus consumer analyst holds analyst/industry conference call
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08:05 EDTU.S. equities were propped up
U.S. equities were propped up by gains in Asia after expectations that steady policy from the BoJ was only a deferral of more stimulus after recent declines in inflation. The Japan Nikkei rose 0.76% and the Shanghai Comp gained 0.84%. In Europe, a rally stalled after news of a $70 B mega merger between Royal Dutch Shell and BG Group, though the UK FTSE remained 0.5% higher thanks to the energy sector and the Euro Stoxx 50 0.3% lower. Curiously, oil prices sank after record Saudi output was confirmed along with a whopping API build, keeping negative price trends in the sector intact. The Dow is 18-points higher, S&P gained 2-points and NASDAQ is 5-points higher, led by gains in U.S. energy stocks, while Alcoa is up ahead of earnings after the close. The FOMC minutes and EIA energy stats are on tap later.
07:50 EDTN.Y. FX Outlook
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07:46 EDTCouncil on Foreign Relations to hold a discussion on monetary policy
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07:35 EDTU.S. MBA mortgage market index rose 0.4%
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07:31 EDTFOMC to publish minutes of meeting
FOMC releases minutes of the March Policy Meeting on April 8 at 2 pm.
07:30 EDTBoston Security Analysts Society to hold a discussion
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07:30 EDTTreasury Market Outlook: Treasuries are a little higher
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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 | 29 | 30 | all recent NOSYMBOL news | >>

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