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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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January 28, 2016
11:09 EDT52-Week Bill Announcement CUSIP Number data reported
52-Week Bill Announcement CUSIP Number at 912796JA8
11:09 EDT52-Week Bill Announcement Offering Amount data reported
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11:01 EDTKansas City Fed Manufacturing Index Level data reported
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10:50 EDTToday's U.S. reports
Today's U.S. reports revealed disastrous December durables data that lowered Q4-Q1 prospects for GDP and for Fed tightening at the March FOMC meeting, as the petro-sector downswing is proving more disruptive for the factory sector han indicated by previously available vehicle, aircraft, and defense spending figures. Durable orders plunged 5.1% overall and 1.2% ex-transportation in December, while shipments of equipment fell by an enormous 6.6% due to an aircraft shortfall, alongside a 2.2% overall shipments drop. Analysts also saw a 16k initial claims drop to 278k in the week of the MLK holiday that trimmed the troublesome claims uptrend since November, and analysts left our January nonfarm payroll estimate at 200k, though analysts'll need a few weeks of post-holiday claims data to determine if the pace of labor market improvement is diminishing. Analysts also saw a 0.1% December pending home sales rise, which was weaker than expected but still not nearly as ugly as the durables data. Analysts now expect GDP growth of just 1.0% (was 1.3%) in Q4 and 1.8% (was 2.0%) in Q1, and analysts pushed back our Fed tightening assumption to June.
10:50 EDTU.S. equities have now reversed lower
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10:40 EDTAtlanta Fed's Q4 GDPNow estimate was boosted back to 1.0%
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10:30 EDTEIA natural gas storage change for week ending January 22
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10:20 EDTTreasury Action: yields flung back and forth
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10:01 EDTPending Home Sales Index data reported
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10:00 EDTEuro$ interest rate futures are quite twitchy
Euro$ interest rate futures are quite twitchy as the mixed signals from the Fed (global developments reintroduced) spread around the globe and back again, with the rate contracts higher with global stock losses, then lower as the U.S. and crude oil rebounded on reconstituted Russia-OPEC reports. That's left the futures quite choppy, with the March 2016 contract a tick higher near 99.355 (0.645% implied 3-month rate), compared to 99.315 (0.685%) ahead of the Fed decision. The deferreds range from +1 up front to -4.5 ticks out the curve.
09:50 EDTU.S. pending home sales preview:
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09:47 EDTBloomberg Consumer Comfort Index Level data reported
Week of 1/24 Bloomberg Consumer Comfort Index Level at 44.6
09:45 EDTFed funds futures are slightly higher after the awful durable goods report
Fed funds futures are slightly higher after the awful durable goods report. The rally is notching down implied rates slightly to reflect further erosion in rate hike estimates. Even though yesterday's policy statement left the door open for another rate hike, the markets are pricing out a move in March, and this morning's durable goods data added to that belief. The April implied rate has dipped to 0.40%, which is essentially on top of the 0.375% midpoint of the current range. Indeed, the futures market is showing the Fed on hold through the first half of the year. And instead of four 25 bp hikes this year, implied rates are only pointing to one, to be engineered in the later half of 2016.
09:43 EDTEarnings and oil lift market at open
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09:40 EDTThe disastrous U.S. durable orders report
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09:35 EDTEnergy Action: NYMEX crude has spiked
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09:05 EDTThe 16k U.S. initial claims drop to 278k
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09:05 EDTU.S. equities are marginally higher
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09:05 EDTEnergy Action: NYMEX crude printed three-week highs
Energy Action: NYMEX crude printed three-week highs of $32.92/bbl, as the market continues to hold out hope for some sort of production cut agreement between OPEC and Russia. The lack of concrete news on the subject however, could end in tears for oil bulls, as fundamentals remain bearish, with supply continuing to overrun demand. The next upside target comes in at $33.20, the January 11 peak, with support now seen at $32.00. RBOB gasoline futures are up 4 cents/gallon at $1.0880. The February contract expires at the close today, leaving March as front-month, which is currently trading at $1.123.
08:50 EDTFX Action: The dollar fell
FX Action: The dollar fell against the euro and yen following the very weak durables report, which was perhaps offset some by the dip in weekly jobless claims. EUR-USD rallied to seven-session highs of 1.0928 from near 1.0910, as USD-JPY fell from 118.85 toward 118.70. Equity futures pared back their gains, as yields stumbled.
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