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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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February 9, 2016
08:30 EDTU.S. equities are back in the woodshed
U.S. equities are back in the woodshed after Asia took over from Europe as the market whipping boy with a 5.4% plunge in Japan's N-225 after the yen surged to the low 114s and the 10-year JGB went negative. Without China to flog, Japan was the next best proxy for selling, though crude oil rebounded back above $30 bbl despite some bearish supply/price calls by the IEA. Deutsche Bank made the unusual move of reassuring investors that it has sufficient funds and liquidity to services its riskier debt, despite a surge in its CDS and its shares falling another 1% for a total of -10% since Monday. European shares gave up initial gains, with the Euro Stoxx 50 reversing 2.0% lower and the German DAX is -1.5%, with the periphery -2.7%. The yen is off its best levels, though still under 115.00, while risk proxy gold has pulled back to the $1,195 area. The Dow is 141-points lower, S&P reclined 17-points and NASDAQ faltered 38-points. Coca-Cola fell after reporting a decline in sales, while Regeneron sank 4.5% after slower sales. Deja vu all over again.
08:05 EDTFed funds opened at 0.38%
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08:00 EDTU.S. chain store sales declined 2.6% in the week ended February 6
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07:56 EDTCLSA banks analyst holds an analyst/industry conference call
Analyst Mayo, hosts Doug Braunstein, Founder & Managing Partner of Hudson Executive Capital, who discusses his firm's approach to investing and constructive activism in banks on an Analyst/Industry conference call to be held on February 18 at 11 am.
07:55 EDTEnergy Action: NYMEX crude
Energy Action: NYMEX crude ranged between $30.60 and $29.72 overnight, currently at session lows into the N.Y. open. The IEA said overnight that "with the market already awash in oil, it is very hard to see how oil prices can rise." This is backed by Iraq pumping at record highs, Saudi increasing its output, and Iran planning to produce more. Calls from Goldman Sachs and Morgan Stanley for sub-$20 oil based on storage constraints for the former, and a stronger dollar for the latter, are looking like better bets this week. RBOB gasoline is at a fresh seven-year low of $0.9356/gallon, and down nearly 30% from the start of the year.
07:50 EDTTreasury Market Outlook: Treasuries are back in the green
Treasury Market Outlook: Treasuries are back in the green, unwinding overnight losses as stocks resume their downtrend. The 10-year note yield rose to 1.765% from 1.68% earlier, but has since dipped to 1.73%. Treading volume has picked up and was on the high side. European sovereigns are paring losses too with the German Bund at 0.22% versus 0.268%. After a positive start, the Dow future is now off more than 100 points. Japan's Nikkei suffered a 5.4% decline. European bourses are down over 1%. There wasn't much data overnight. German exports slumped 1.6% while industrial production unexpectedly fell 1.2%, while the UK trade deficit was better than expected. The Treasury's $24 B 3-year note auction highlights today's session ahead of Yellen's testimony tomorrow. This kicks off the $62 B February refunding. Data is light with just December wholesale trade, December JOLTS, and weekly chain store sales. Earnings season continues too with a variety of quarterly reports, with Disney still ahead. Coke announced a beat.
07:35 EDTN.Y. FX Outlook
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07:18 EDTFDA Arthritis Advisory Committee to hold a meeting
The Committee discusses Biologics License Application (BLA) 125544 for CT-P13, a proposed biosimilar to Janssen Biotech's REMICADE (Infliximab), submitted by Celltrion, in a meeting being held at FDA Silver Spring, Maryland offices on February 9 at 7:30 am. Webcast Link
07:17 EDTFutures lower in wake of Japan selloff
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07:13 EDTBarclays to hold meetings on energy policy
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06:10 EDTThe IEA warned of a "false dawn" in oil prices
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06:01 EDTNFIB Small Business Optimism Index level data reported
January NFIB Small Business Optimism Index level at 93.9 vs. consensus of 94.9
05:33 EDTOn The Fly: Morning Wrap-Up for February 9
Globex S&P futures are recently down 6.50 from previous day's SPX cash close. Nikkei 225 down 5%, Shanghai Shenzhen CSI 300 Index holiday, DAX down 0.54%. WTI Crude oil is recently at $30.28, natural gas down 2.2%, gold at $1189 an ounce, copper down 0.99%.
05:28 EDTFebruary front month equity options last day to trade is February 19, 2016
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02:35 EDTFX Update: The haven yen has surged amid untampered risk-off
FX Update: The haven yen has surged amid untampered risk-off sentiment in global equity markets. Financial and energy stocks led sharp declines in Japan, Australia and other Asia-Pacific markets that aren't closed for the Lunar New Year celebrations. Japan's Nikkei 225 closed with a 5.4% loss, and Australia's ASX with a 2.9% decline. Oil prices and other commodities saw relatively steady trade, though this followed steep declines yesterday. USD-JPY dove to a 15-month low of 114.20, since recouping to the low 115s but still remaining 0.6% down on the day, as London traders take to their seats. The risk-appetite correlative AUD-JPY cross is showing a 1.3% decline, which is the biggest percentage mover out of the currencies analysts track. CAD-JPY is off by 0.8%. EUR-USD, meanwhile, is near net unchanged, having oscillated without direction around the 1.1200 level, below yesterday's peak at 1.1237. More of the same looks more likely than not.
01:46 EDT Boston Federal Reserve Bank President Eric Rosengren Speech to be released at 19:30
01:46 EDT San Francisco Federal Reserve Bank President John Williams Speech to be released at 15:30
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01:46 EDT Cleveland Federal Reserve Bank President Loretta Mester Speech to be released at 08:00
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01:46 EDT Minneapolis Federal Reserve Bank Presidetent Neel Kashkari Speech to be released at 10:30
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01:46 EDT New York Federal Reserve William Dudley Speech to be released at 10:00
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