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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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March 13, 2015
10:15 EDTTreasury Action: yields remained above lows
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10:13 EDTBarclays healthcare analysts to hold an analyst/industry conference call
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10:10 EDTU.S. consumer sentiment dropped to 91.2 in the preliminary March print
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10:05 EDTFX Action: The dollar is on the move higher
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09:48 EDTMarket keeps up see-saw pattern with lower open
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09:45 EDTFed Policy Outlook: it's all about the Fed next week
Fed Policy Outlook: it's all about the Fed next week and whether "patient" is dropped from the policy statement. Most Fedwatchers believe it will be given the ongoing strength in the labor market, including the decline in the unemployment rate to 5.5% in February. But Yellen will go to lengths in her press conference to stress the policy path is data dependent and that removal of "patient" doesn't mean rate lift-off in June is a done deal. That view should be backed up by downgrades in the Fed's official growth and inflation forecasts reported at the December FOMC. Indeed, since then, estimates for both Q4 and Q1 GDP have generally been revised lower amid signs of restrained growth (in the U.S. and abroad) in most sales and output measures, along with a big headline inflation headwind from falling oil prices and a stronger dollar. Additionally, analysts suspect policymakers, and particularly the doves, remain sensitive to the potential for bearish reactions to the prospects of rate normalization, and these factors argue for delaying lift-off until at least Q3.
09:35 EDTU.S. Michigan Consumer Sentiment Preview
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09:15 EDTThe 0.5% U.S. February PPI drops
The 0.5% U.S. February PPI drops both with and without food and energy undershot estimates thanks to big 1.5% declines in both transportation and warehousing services prices and trade service prices (margins of wholesalers and retailers). Service prices have fallen in January and February by a combined 0.6% after a firm 2.3% rise in 2014, while goods prices have fallen 5.2% over the past eight months, with a 2.5% drop thus far in 2015 after a 1.2% 2014 drop. Analysts expect a 0.3% PPI drop in March with a 0.1% core price decline, as the downtrend in energy prices has resumed after the February pause, and the dollar is now soaring. On the old SOP basis, analysts saw a 0.1% headline PPI drop after decreases of 2.1% in January and 1.1% in December, while SOP core prices rose 0.1% after gains of 0.2% in January and 0.3% in December. Yesterday's trade price report revealed a February lull in the pace of trade price declines after a six-month string of out-sized drops, and analysts expect 0.1% headline gains for both CPI and PCE chain prices with and without food and energy.
09:15 EDTEuro$ interest rate options: buyers of both puts and calls
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09:01 EDT Federal Reserve Gov. Daniel Tarullo Speech to be released at 10:00
09:00 EDTU.S. equities rebounded from pre-open lows
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08:55 EDTFX Action: USD-CAD bears were saved
FX Action: USD-CAD bears were saved by the nearly in-line Canadian jobs report, which took the pairing back into 1.2710 from earlier highs of 1.2765. Oil prices will become the focus now, as WTI crude stays down so far, hugging the $46.00 mark, after making six-week lows of $45.91 into the open.
08:45 EDTTreasury Action: yields rolled back
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08:40 EDTU.S. PPI dropped 0.5% in February with the core rate down 0.5%
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08:40 EDTFX Action: The dollar eased
FX Action: The dollar eased following the PPI data, which was much cooler than expected. EUR-USD rallied to 1.0595 from 1.0575, as USD-JPY eased into 121.35 from 121.45. Yields eased back some, as equity futures turned lower.
08:35 EDTFX Action: USD-CAD touched session highs of 1.2765
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08:34 EDTProducer prices data has little impact on futures
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08:20 EDTU.S. PPI Preview
U.S. PPI Preview: February PPI should reveal a headline decline of -0.1% (median 0.2%) with an accompanying core figure of 0.1% (median 0.1%). This follows respective January figures of -0.8% and -0.1%. The collapse in oil prices that analysts had observed over the winter month's and which had weighed on inflation measures leveled off on February. This should limit the potential for further big drops in PPI.
08:10 EDTEnergy Action: NYMEX crude has been on the retreat
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07:50 EDTN.Y. FX Outlook: EUR-USD is back on the 1.05 handle
N.Y. FX Outlook: EUR-USD is back on the 1.05 handle this morning, though has largely been in consolidative mode since yesterday. The pairing based at 1.0565 into the London open, later peaking at 1.0634. ECB QE is ongoing, and will continue to weigh on the euro in coming days and weeks. A major U.S. investment bank revised its euro forecasts lower overnight, now looking for EUR-USD at 1.0200, 1.0000, and 0.9500 in 3, 6, and 12 months, respectively. This is down from 1.1200, 1.1000. and 1.0800 previously. The dollar remained firm elsewhere, taking USD-JPY over 121.50, and USD-CAD north of 1.2740. Cable approached 1.4800 following BoE comments expressing concern over protracted sterling strength. U.S. equity futures are marginally higher this morning following Thursday's sharp rally, while yields are little changed. The U.S. calendar reveals February PPI at 8:30 EDT, followed by preliminary March U. of Michigan sentiment at 10:00 EDT.
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