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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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January 27, 2015
09:30 EDTFX Action: USD-CAD's 1.2500 print
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09:25 EDTNYSE has invoke "Rule 48" ahead of the open
NYSE has invoke "Rule 48" ahead of the open which provides for "exemptive relief" in the event of extreme market volatility conditions, which allows for relief of suspension of trade temporarily following a market-wide halt. The winter storm could provide some more cover, though it is the earnings blizzard that is causing the chop.
09:20 EDTFed hike forecasts are being revised
Fed hike forecasts are being revised in the wake of this recent round of disappointing earnings and data misses. Among the first is Morgan Stanley, which has reportedly deferred its call to March of 2016 from January 2016. As the energy price and dollar typhoon continues to wrack the markets, others are expected to follow suit and Goldman is expected to not be far behind, according to sources.
09:15 EDTU.S. Case Shiller November 20-city home price index slid 0.22% to 172.94
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09:15 EDTThe U.S. durables report sharply underperformed
The U.S. durables report sharply underperformed, both via big December declines across the orders and equipment data, with and without transportation or defense, and big downward November revisions that left three months of notable underperformance for orders and equipment. Shipments and inventories slightly beat assumptions after restrained factory data in the payroll and industrial production reports, though the data were bad news for the GDP growth outlook on net. Analysts still expect 3.5% Q4 GDP growth, but with a -1% (was +1%) figure for the equipment component. Inventories are poised to add $15 B to Q4 GDP growth, after a $2.6 B subtraction in Q3 that left an already-elevated $82.2 B accumulation rate. Our Q1 GDP estimate remains at 2.5%, though today's data signal downside risk. Analysts expect a flat December factory and overall inventory figure, given today's 0.5% factory durable inventory rise. Analysts assume a 2.2% December factory orders drop with a flat factory shipments figure, given an assumed 1.0% price-led decline for nondurable shipments and orders.
09:12 EDTS&P/Case-Shiller Home Price Index data reported.
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09:00 EDTFX Action: The dollar's ongoing strength
FX Action: The dollar's ongoing strength, along with sagging commodity prices have begun to show up on corporate income statements. Earnings reports from Proctor and Gamble, Pfizer, and Caterpillar this morning all missed street expectations, with the strong dollar, and soft commodity prices mentioned as major reasons for profit slippage. In addition, while Microsoft and 3M profits met earnings expectations, these companies downgraded guidance for the remainder of the year, due to dollar strength. It is only January, but based on the heavily negative market reaction seen on Wall Street this morning, red flags are being raised concerning equity market performance in the coming months.
09:00 EDTTreasury Action: yields reversed lower
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08:58 EDTRedbook Store Sales data reported
Week of 1/24 Redbook Store Sales up 3.2% for the year
08:55 EDTU.S. S&P Case Shiller home prices preview:
U.S. S&P Case Shiller home prices preview: home prices are forecast to 0.7% in November (median 0.6%) for the 20-cities index seasonally adjusted from 0.8% in October or fall 0.25% non-seasonally adjusted. For more, see our home prices comparison.
08:50 EDTFX Action: The dollar slipped further
FX Action: The dollar slipped further following the terrible durables report, taking EUR-USD toward 1.1340 from 1.1310, and USD-JPY to intra day lows of 117.55 from 117.75. Equity futures, already in the tank from numerous earnings misses earlier, have dropped even further, indicating nearly a 300 point DJIA negative open. Yields have slid as well, with the 10-year near 1.76%.
08:50 EDTU.S. equities have been routed
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08:40 EDTU.S. durable goods orders collapsed 3.4% in December
U.S. durable goods orders collapsed 3.4% in December after a downwardly revised 2.1% November decline (revised from -0.9%). Excluding transportation, orders were down 0.8% after a 1.3% drop previously (revised from -0.4%). Nondefense capital goods orders excluding aircraft fell 0.6% following a 0.6% November slide (revised from unchanged). Data are much weaker than expected and will extend declines in equities.
08:37 EDTHouse Financial Services Committee to hold a hearing
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08:15 EDTU.S. durable goods preview:
U.S. durable goods preview: durable goods orders are expected to grow 1.0% in December (median 0.4%) vs -0.9%, with shipments up 0.5% (median 0.4%). Inventories are expected to grow by 0.4% in December, which would leave the I/S ratio steady at 1.67 from last month. Forecast risk is downward, however, as there was a drop in Boeing orders in December and vehicle assemblies in December are expected to slow slightly, to 11.9 M from 12.0 M. preview for more.
08:10 EDTU.S. chain store sales index fell 0.6% in the week ended January 24
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08:06 EDTCredit Suisse to hold a conference
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08:05 EDTU.S. durable goods and new home sales reports
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08:00 EDTEnergy Action: NYMEX crude
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07:56 EDTCredit Suisse to hold a conference
Latin America Investment Conference is being held in Sao Paulo, Brazil on January 27-29.
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