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News For NOSYMBOL From The Last 14 Days
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September 26, 2014
10:22 EDTAverages rebound after Nike report, upward revision to Q2 GDP
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10:15 EDTThe September Michigan sentiment rise
The September Michigan sentiment rise to an unrevised 84.6 extended the 0.7 August rise to 82.5, as Michigan sentiment climbed above the narrow 81.8-82.5 range of the prior four months, but remained below the 85.1 cycle-high from July of 2013. Today's lack of an upward headline revision breaks the pattern of consistent boosts in every prior month of 2014, though the average size of the monthly boost has fallen in half to 0.9 this year from a larger 1.8 average in 2013. For other surveys, the RBC-IPSOS index rose to a 52.4 cycle-high from 51.5, versus a 51.8 prior cycle-high in March that was also seen last June. The IBD/TIPP index rose to 45.2 from 44.5, versus a 54.0 cycle-high in October of 2012. The weekly Bloomberg Consumer Comfort index has slipped through the first three weeks of September to a most recent 35.5 from averages of 37.0 in August and a cycle-high 37.1 in July, versus a 36.4 temporary high in July of 2013. Analysts expect a September consumer confidence drop to 91.0 from a cycle-high 92.4 in August, versus last year's temporary June peak of 82.1.
10:10 EDTFX Action: The dollar edged higher after the Michigan sentiment
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10:10 EDTTreasury Action: yields have simmered down
Treasury Action: yields have simmered down after the knee-jerk reaction to Gross's departure from PIMCO, which spread to high yield and peripheral bonds too. The as expected unrevised U. Michigan release left no discernable mark, though the T-note yield pulled back from 2.55% session highs to the 2.52% area after vaulting from 2.50% earlier. Stocks remain jittery too after yesterday's fund portfolio liquidation, which was confirmed today as BlueCrest.
10:05 EDTU.S. consumer sentiment rose to 84.6 in the final September reading
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09:40 EDTTreasury Option Action: demand for volatility
Treasury Option Action: demand for volatility has been cited with good buying on 2.5k December 138 bond straddles, rumored to be a West Coast fund in the midst of a management reshuffle. Dec bonds are 7-ticks lower now near 137-19.
09:30 EDTPIMCO's Gross: decided to join Janus Capital Group
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09:25 EDTFX Action: USD-CAD made new trend highs
FX Action: USD-CAD made new trend highs of 1.1137, after finding support just under 1.11 into the North America open. Fresh bidding interest is now reported coming in at 1.1100, with intra day stops noted at 1.1090. To the upside, the March 26 high of 1.1170 should provide good interim resistance.
09:22 EDTSPDR Lehman High Yield Bond volatility low as yield trends higher
SPDR Lehman High Yield Bond overall option implied volatility of 7 is below its 26-week average of 8 according to Track Data, suggesting decreasing price movement.
09:15 EDTU.S. equities shed gains
U.S. equities shed gains even after European bourses turned the corner slightly on yesterday's steep losses even as Asia caught up on the downside overnight. Q2 GDP was revised up to 4.6% as expected, though the markets are still focused on downside risks as the Fed seeks a graceful exit from QE. News of Bill Gross's departure from PIMCO for Janus appeared to attract more interest, however, as parent Allianz sinks 3% and Janus surges 20%. There was also a WSJ report that BlueCrest sacked equity fund managers yesterday and some of its stock portfolio, contributing to the sell-off then. In Asia, Japan's N-225 sank 0.88%, while the Japan Topix of financial shares tumbled 1.08% and the Shanghai Comp rose 0.11%. Europe's Euro Stoxx 50 is up 0.4%, while the German DAX is in shallow negative territory. The Dow is 2-points lower, S&P sank 5-points and NASDAQ is off 2-points ahead of the opening bell, below earlier highs. In corporate action, NIKE surged over 7% in pre-market action after a solid earnings report, as did Micron Technology which rallied over 6%. U.S. shares of Canada's Blackberry also rallied 4% after cutting its losses. Final U. Michigan sentiment is due next.
09:00 EDTBlueCrest Capital Management LLP was cited by the WSJ
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09:00 EDTThe Q2 GDP growth boost to 4.6%
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08:55 EDTFX Action: The dollar edged up
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08:45 EDTTreasury Action: yields remained subdued
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08:45 EDTU.S. GDP grew at a 4.6% rate in Q2
U.S. GDP grew at a 4.6% rate in Q2, revised up from 4.2% previously and 4.0% in the Advance report. Personal consumption expenditure growth held at 2.5%, where it's been since the first report. Fixed investment came in at a 9.5% rate, boosted from 8.1% in the second report (and from 5.9% originally), with nonresidential spending revised up to 9.7% versus the prior 8.4%, and residential spending up 8.8% compared to 7.2%. Inventories added $49.6 B compared to $48.7 B previously. Net imports subtracted $13.2 B after adding $6.8 B previously. Government spending climbed 1.7% in the final Q2 reading versus 1.4% previously. The GDP price chain price index was steady at a 2.1% pace, with the core rate holding at 2.0% compared to the prior report, and versus respective rates of 2.0% and 1.5% in the Advance report.
08:39 EDTFutures still pointing to higher open after Q2 GDP growth revised higher
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08:15 EDTU.S. Q2 GDP preview:
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08:10 EDTOil Action: NYMEX crude is up 54 cents
Oil Action: NYMEX crude is up 54 cents at $93.07 into the open, with prices up on profit taking into the end of week/month/quarter. The contract found solid support on the $90 handle early in the week, and has been building a base since Monday, print higher daily lows since then. The ample supply/weak demand picture remains in place however, so the current rally is not likely to last too long. For the most part, a $90-95 trading range may be in place for the foreseeable future.
07:46 EDTFDA to hold a public meeting
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07:45 EDTTreasury Market Outlook: Treasuries have shed earlier gains
Treasury Market Outlook: Treasuries have shed earlier gains as the 10-year yield edges up to 2.50% after testing 2.48% in Asian trading. European and Asian sovereigns remain higher with the German Bund yield at 0.95% while the 10-year JGB sits at 0.51%. Sources report real money accounts were noted sellers of Treasuries to purchase other sovereigns. Stocks in Asia ended in the red following Wall Street's plunge Thursday, as U.S. equity futures and European bourses rebound. The dollar is firmer. Weaker than expected German confidence data helped propel bonds higher, while German import prices decelerated further to a -1.9% y/y rate, while Japanese CPI came in below expectations. Supply is out of the way in the U.S. the time being, and that could give some support to Treasuries headed into month- and quarter-end. Data today includes the third revision to Q2 GDP, with growth expected to be boosted to 4.4% from 4.2% previously. The final reading on consumer sentiment for September is also due and is expected to edge up to 85.0 from the preliminary 84.6.
<< 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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