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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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August 21, 2014
10:50 EDTU.S. existing home sales beat estimates
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10:45 EDTU.S. equities made another stab higher
U.S. equities made another stab higher in the wake of the better than expected data round, while there were also reports from Russia's Information Agency (RIA) that Russia has "no plans" for an incursion into the Ukraine, according to a Defense Ministry source. That said, the Philly Fed components were mostly weak and undermined the stronger headlines. Treasuries also road out the ostensibly firmer data reportedly thanks to ongoing Japanese demand on dips. The dollar flinched before finding fresh equilibrium. Gold remains sharply lower near $1,277 compared to the $1,291.54-1,273.95 session range. The VIX equity volatility index is above session lows of 11.73.
10:35 EDTThe Philly Fed August surge to a 28.0 three-year high
The Philly Fed August surge to a 28.0 three-year high extended the July pop to 23.9 from 17.8 in June, versus a -6.3 fifteen-month low in February. Yet, the ISM-adjusted Philly Fed measure fell to 55.5 in August, after a July surge to a 59.5 cycle-high from 54.1 in June, versus a 49.0 nine-month low in February. The divergence reflected big declines in new and unfilled orders as well as shipments and deliveries that left a more mixed report than implied by the headline surge. The big July vehicle assembly rate pop, and likely ensuing August drop-back, likely fed both the producer sentiment upswing in July and divergent August moves, both within today's report and relative to last Friday's Empire State drop to 14.69 after surging to 24.60 in July, as well as a continued tightening in initial claims. Analysts expect an unchanged Richmond Fed at 4.0, a Dallas Fed up-tick to 13.0 from 12.7, an ISM drop to 55.0 from 57.1, and an ISM-NMI decline to 56.5 from 58.7. The mix should allow the ISM-adjusted average to slip to 55 in August from a 56 cycle-high in July that was also seen in February and March of 2011, versus 54 through Q2 and 52 through Q1.
10:30 EDTGas Inventories 88 Bcf build vs. consensus of 84 Bcf build.
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10:25 EDTFX Action: After retreating from overnight highs
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10:25 EDTNY Fed outright purchase: Fed is buying $2.05 B to $2.50 B in notes
NY Fed outright purchase: Fed is buying $2.05 B to $2.50 B in notes ranging from November 15, 2021 through August 15, 2024. The buyback should help underpin the belly of the curve. Yield have dipped from overnight highs with the 7-year at 2.08% and the 10-year at 2.425%.
10:20 EDTU.S. leading indicator rose 0.9% to 103.3 in July
U.S. leading indicator rose 0.9% to 103.3 in July versus June's 102.4 (revised from 102.2). This is the largest monthly increase since March, and is a sixth straight monthly gain. It's also the first 103 "handle" since October 2007. Seven of the 10 indicators increased, pace by the interest rate spread (0.27%), building permits (0.24%), and jobless claims (0.24%). The remaining three components made negative contributions, paced by the workweek (-0.13%).
10:15 EDTFX Action: The dollar edged higher
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10:15 EDTU.S. July existing home sales rose 2.4% to 5.150 M
U.S. July existing home sales rose 2.4% to 5.150 M after a same-sized increase to 5.030 M in June (revised from 5.040 M). This is a fourth consecutive monthly gain and is a 10 month high. Single family sales increased 2.7%, while condo/coop sales were flat. The months' supply of homes was steady at 5.5 months. The median sales price increased to $222,900 versus $222,000 (revised from $223,300), and is up 4.9% y/y. Data are better than expected and could start to tame Fed fears over the housing market.
10:15 EDTTreasury Action: yields remained pinned down
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10:10 EDTU.S. Philly Fed manufacturing index climbed 4.1 to 28.0 in August
U.S. Philly Fed manufacturing index climbed 4.1 to 28.0 in August after popping up 6.1 points to 23.9 in July. This is the highest since the 34.7 from March 2011. However, the components were mixed and belie the headline strength. The employment index slid to 9.1 from 12.2 (the latter was the best since October 2013). The workweek edged up to 13.3 from 12.5. New orders were more than halved to 14.7 from 34.2. Prices paid dropped to 24.9 from 34.7, while prices received crumbled to 4.2 from 16.8. The 6-month business conditions index surged to 66.4, however, from 58.1, with employment at 24.7 from 29.1, and capital expenditures at 17.5 from 18.9.
10:02 EDTExisting Home Sales data reported
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10:02 EDTLeading Indicators data reported
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09:55 EDTU.S. leading indicators preview:
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09:55 EDTU.S. Markit flash PMI climbed to 58.0 in August
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09:50 EDTU.S. Philadelphia Fed Index Preview
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09:50 EDTU.S. Existing Home Sales Preview
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09:40 EDTTreasury Option Action: bearish positioning on a short 10-year
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09:34 EDTMarket hoping to extend winning ways
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09:34 EDTJPMorgan automotive analyst holds an analyst/industry conference call
Auto Analyst Brinkman provides an industry update and outlook on an Analyst/Industry conference call to be held on August 21 at 10 am.
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