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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | all recent NOSYMBOL news | >>
May 20, 2015
08:05 EDTEnergy Action: NYMEX crude recovered to $58.86 highs
Energy Action: NYMEX crude recovered to $58.86 highs in London trade, after touching $57.91 lows in N.Y. on Tuesday. The modest rally came on the heels of a larger than expected weekly inventory draw, as reported by API after the close on Tuesday. Later, stronger Japan GDP data helped support. The market will now focus on weekly EIA inventory numbers, due at 10:30 EDT. Elsewhere, RBOB gasoline futures recovered to $2.02/gallon, after sliding more than 5 cents, toward $1.99 yesterday, as natural gas futures steadied under $3.00/M BTU, after posting four-month highs on Tuesday.
07:40 EDTSEC to hold an open commission meeting
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07:40 EDTU.S. MBA mortgage market index fell 1.5%
U.S. MBA mortgage market index fell 1.5% in data released earlier, along with a 3.7% drop in the purchase index and a 0.3% rise in the refinancing index for the week ended May 15. By mid-May mortgage rates had risen to the highest level since December with the Bund tantrum, which drew a parallel move with Treasuries and pulled mortgage rates higher as well. The average 30-year fixed rate rose another 4 basis points to 4.04%, having cleared the 4.0% barrier the week prior. As the MBA noted, "Mortgage rates increased last week, and Treasury rates increased to a recent high at mid-week before falling at the end of the week. Overall purchase activity fell for the week, along with conventional refinance volume, but government refinance volume increased." This data is a little more sober than the 20% boom in housing starts recorded yesterday, but still illustrates the challenging dynamic the Fed faces between managing rate tightening expectations and reining in the economy. New home sales and existing home sales have been on a more gradual upslope this year too.
07:39 EDTB. Riley to hold a conference
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07:31 EDTCitigroup to hold a conference
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07:30 EDTFinancial Research Associates to hold a conference
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07:30 EDTDeutsche Bank to hold a forum
LatAm Concessions Forum is being held in New York on May 20-21.
07:30 EDTTreasury Market Outlook: Treasury yields are slightly lower
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07:11 EDTBofA/Merrill to hold a conference
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07:08 EDTNational Association of Publicly Traded Partnerships to hold a conference
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06:59 EDTFutures quiet as investors await Fed minutes
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06:04 EDTOn The Fly: Morning Wrap-Up for May 20
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05:58 EDTJune front month equity options last day to trade is June 19, 2015
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02:35 EDTFX Update: EUR-USD has remained heavy
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May 19, 2015
20:30 EDTJapan's GDP accelerated to a 2.4% growth pace in Q1
Japan's GDP accelerated to a 2.4% growth pace in Q1 (q/q, saar), much better than expected following a downwardly revised 1.1% pace in Q4 (was +1.5%). Consumption grew at a 1.5% pace in Q1 (q/q, saar) contrary to an expected slowing following the 1.5% rate in Q4. Private investment bounced 7.5% after the 2.4% dip in Q4, 23.2% drop in Q3 and 36.7% pull-back in Q2. Private non-residential investment rose 1.4% in Q1, the first increase since Q1 of 2014. Exports grew 9.9% in Q1 while imports expanded 12.0%, leaving a drag from net exports. Inventories added to growth in Q1. Overall, this is a much better than expected report. While the Japanese economy faces considerable challenges, the pick-up in business investment is a positive sign for the growth outlook that will not be lost on the Bank of Japan.
16:15 EDT 4-Week Bill Auction to be released at 11:30
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16:15 EDTWeek of 5/30 Redbook to be released at 08:55
13:54 EDTDow, S&P 500 hit new highs in afternoon trading
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13:10 EDTFOMC minutes could be a source of further volatility for the markets
FOMC minutes could be a source of further volatility for the markets, even though no big surprises are anticipated. The bond market has generally been defying weaker fundamentals during the selloff over the last three weeks, until today's housing starts figures. And traders may cherry-pick hawkish comments in the minutes to the April 28, 29 meeting to support the potential for a September rate hike, if not June. There weren't any real surprises in the April policy statement, and the forward guidance was removed in favor of data dependency, as universally expected. Remember that the Fed slightly downgraded its economic outlook, though it attributed some of the Q1 slowing to "transitory" factors. So there are likely to be a number of differing views on these topics from which traders can choose. Indeed, there are a number of factors that policymakers can cite to support rate liftoff, especially in the job market, but there are also a number of elements, specifically wages and prices, not to mention sluggish Q1 growth, that give the FOMC pause.
12:15 EDTEnergy Action: NYMEX crude is down 3%
Energy Action: NYMEX crude is down 3% on the session, trading to lows of $58.34, and near support at $58.11, which has been the lowest since the start of May. Sources expect follow through to the $56.50 region should $58.00 give way.
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