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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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August 14, 2015
10:59 EDTGuggenheim analysts hold an analyst/industry conference call
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10:26 EDTDeutsche Bank analysts hold an analyst/industry conference call
Analysts discuss the VIX (CBOE Volatility Index) Market and the trading range on an Analyst/Industry conference call to be held on August 14 at 11 am.
10:20 EDTThe August Michigan sentiment downtick to 92.9
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10:15 EDTTreasury Action: yields steadied below highs
Treasury Action: yields steadied below highs following the dip in U. Michigan sentiment, which contrasted the firmer rounds of industrial production and PPI. The T-note yield skied from 2.16% to session highs of 2.21% before easing back to 2.20% again. Stocks are above earlier lows, though recently have fallen for 10 out of 12 Fridays. The 2.25% psych area may hold for now, unless equities defy the odds and their the August downdraft.
10:15 EDTFX Action: The dollar headed a touch lower
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10:10 EDTU.S. August consumer sentiment fell to 92.9 in the preliminary report
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09:50 EDTFX Action: USD-CAD topped out at 1.3087
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09:45 EDTThe hefty 0.6% U.S. industrial production rise
The hefty 0.6% U.S. industrial production rise reflected a 15.3% vehicle assembly rate pop to a cycle-high 13.6 M clip that can be attributed to a temporary boost from this year's limited auto retooling, alongside a downward June revision that trimmed the good news in the report. The vehicle sector surge allowed a big 0.8% manufacturing rise, and alongside a 0.2% mining sector rise but a weather-led 1.0% July utility output drop. Analysts now expect a 3% Q3 growth rate for industrial production, after contraction rates of 2.0% (was 1.7%) in Q2 and 0.2% in Q1 that left the worst two factory sector quarters of the expansion. Before the petro-sector recession and associated factory weakness of 2015, analysts saw gains in every quarter of the expansion that left a factory sector outperformance of GDP. Industrial production growth is slowing to an estimated 1.8% growth pace in 2015 that undershoots our 2.5% 2015 GDP estimate, following overshoots that left respective growth rates of 3.7% versus 2.4% in 2014, 1.9% versus 1.5% in 2013, and 2.8% versus 2.2% in 2012.
09:45 EDTU.S. Michigan Consumer Sentiment Preview
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09:31 EDTFutures action leads to slightly lower open
Stock futures drifted during the pre-market trading session but unfortunately their direction was lower. The futures action led to a modestly lower open for the broader market as it tries to get back to its winning ways. The early economic numbers were positive as producer prices were generally in line with expectations, and industrial production rose 0.6% in July versus expectations of an increase of 0.3%. The next economic data point scheduled to be released is the University of Michigan Consumer Confidence reading, which is due out at 10:00 am ET.
09:30 EDTTreasury Action: yields extended their ascent
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09:25 EDTFX Action: The dollar rallied slightly
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09:25 EDTU.S. July industrial production rose 0.6%, with capacity utilization at 78.0%
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09:10 EDTU.S. Industrial Production Preview
U.S. Industrial Production Preview: July industrial production data is expected to rise 0.2% (median 0.3%) headline that matches the 0.2% June increase. Capacity utilization is seen rising to 77.9% (median 78.0%) from 77.8% in June. The July employment report featured stronger hours worked data that should lend some support to the release, as mining hours worked grew 0.9% in July and factory hours worked were up 0.3%.
09:05 EDTThe 0.2% U.S. July PPI rise
The 0.2% U.S. July PPI rise with a firm 0.3% core price increase beat estimates thanks to 0.4% gains for service prices overall and trade services, alongside a surprising 0.1% goods price decline that included drops of 0.6% for energy and 0.1% for food. On the old SOP basis, analysts saw a 0.1% July headline PPI drop after gains of 0.9% in June and 1.5% in May, as the July downturn in commodity prices after the May-June bounce is more glaring in the SOP series that excludes the service price data. Analysts expect a 0.1% PPI drop in August with a 0.1% core price increase, and a larger August SOP drop of 0.3%. Commodity prices are falling again thanks to a weak global economy, concerns about China that have been heightened by the yuan devaluation, a firming dollar, and continued oil inventory gains and production firmness as OPEC abandons its "cartel function." Yesterday's July trade price report revealed big July core price declines, though analysts saw a lean oil price drop and a small food price bounce. Analysts expect 0.1% headline gains for CPI and PCE chain prices, with core price increases of 0.2% for CPI and 0.1% for PCE.
09:00 EDTU.S. equities found a soft spot
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08:45 EDTTreasury Action: yields probed highs on core PPI
Treasury Action: yields probed highs on core PPI which came in a bit hot relative to low expectations, while the headline print was slightly above median forecasts. The T-note yield lurched toward 2.19% from under 2.18% before simmering back down, compared to session lows near 2.16% in Asia. With supply out of the way and global stocks still looking a bit defensive this may help keep a lid on rates into the weekend, though production and sentiment data are still on tap. The 2s-10s spread at +146 bp remains narrow.
08:45 EDTFX Action: The dollar rallied
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08:40 EDTU.S. PPI (final demand) rose 0.2% in July with the core up 0.3%
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08:34 EDTFutures drift slightly lower following producer prices report
Stock futures drifted lower following the release of the producer prices report. The data showed that prices rose 0.2% overall versus expectations of an increase of 0.1%. When food and energy data is removed, the core reading was up 0.3% versus expectations of a 0.1% gain. The next economic reports are due out at 9:15 am ET, when data on industrial production and capacity utilization reports are due to be released.
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