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December 28, 2012
08:15 EDTEmployment Situation Av Workweek to be reported at 08:30
December Employment Situation Av Workweek will be reported at 08:30 . Current consensus is 34.4hrs
News For NOSYMBOL From The Last 14 Days
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January 25, 2016
09:10 EDTFed policy outlook: FOMC highlights this week
Fed policy outlook: FOMC highlights this week. The Fed won't announce a rate hike again Wednesday after last month's liftoff. And there's unlikely to be any explicit forward guidance in terms of action at the next meeting in March. It will be important, though, to gauge the tone of the policy statement for clues on a March rate hike. Analysts doubt the Committee will follow the more dovish lead from the ECB and BoJ last week, where downside risks were stressed. However, the poor start to 2016 for equities and commodities, the downward revisions to global growth, and the likely delay in inflation reaching the 2% inflation target could give the Fed pause. It will be important to see if there is some toning down of the December statement which indicated consumer spending and business fixed investment were "solid" and whether there is any concern that inflation won't be accelerating over the medium term, as hoped. Analysts still expect another hike in March given the still strong labor market and as the markets stabilize, but it's become a closer call. Analysts suspect Yellen's February 10 testimony will be a better venue for the Fed to lay out hints on the rate path.
08:50 EDTYellen losing dollar bet, as its rise slows growth and inflation
Yellen losing dollar bet, as its rise slows growth and inflation according to Bloomberg Fedwatcher Rich Miller, who says the dollar continues to defy the Fed's prediction that hikes are priced in. The dollar has gained another 2% since the Fed's December hike on top of the 11% gain in 2015, which will help curb both growth and inflation, while pushing back Fed tightening expectations from March to June. That could yet cause the Fed to back away from its forecast of 4 hikes this year and markets will look for signs of any such shift in the statement on Wednesday. Morgan thinks this could see a return of explicit global and market concerns to the statement, while still leaving the door open to further hikes. The next update on growth comes with Friday's Q4 GDP reading after the Fed decision, but seen at a sluggish 0.8% advance reading.
08:35 EDTEnergy Action: NYMEX crude
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08:25 EDTU.S. equities are back underwater
U.S. equities are back underwater after a strong finish last week petered out with fresh declines in crude oil, knocking European shares lower. Asia had settled higher on the coattails of gains last week, with the Nikkei 0.9% firmer amid BoJ stimulus hopes and the Shanghai Comp rose 0.8%. But that all stalled out in Europe after WTI sank 3.2% to the $31.15 bbl area, leaving the Euro Stoxx 50 marginally lower and the German DAX flat. The Dow is 55-points lower, S&P sank 7-points and NASDAQ is off 14-points ahead of the opening bell. M&A and quarterly earnings remained in focus with data scarce and the FOMC meeting just ahead at midweek. Johnson Controls announced "advanced talks" over a $20 B merger with Tyco, boosting its shares over 14%. Goldman cut CAT to a sell rating, knocking it 2.5% lower, while Twitter tanked 5% after sacking 4 executives. McDonald's global sales rose 5%, beating forecasts.
08:10 EDTFed funds opened at 0.36%
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08:05 EDTFed is at root of much market turmoil
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08:05 EDTN.Y. FX Outlook
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07:58 EDTFutures pointing to lower start to week
U.S. stock futures are lower to start the week as the market tries to build on last week's small advance. The market had its first winning week of the year as a rebound in oil price helped fuel a rally to end the week. Investors will be watching oil prices, which are lower this morning, as well as the barrage of earnings this week, including Apple's (AAPL) report tomorrow after the close. Also, the FOMC will be holding a two day policy meeting tomorrow and Wednesday and will issue a policy statement at its conclusion. In pre-market trading, Dow futures are 50 points below fair value, Nasdaq futures are 12 points below fair value and S&P futures are 4 points below fair value.
07:55 EDTTreasury Market Outlook: longer dated Treasuries are a little firmer
Treasury Market Outlook: longer dated Treasuries are a little firmer, piggybacking on European bond gains after bourses unwound Asian gains and moved lower. U.S. equity futures are following suit. Crude oil has fallen back into the red, declining over 3% to hit $30.86 from $32.74 earlier. The 10-year Treasury yield is down 2 bps to 2.03%, while shorter dated notes are lagging ahead of this week's FOMC meeting and supply. Trading volume was on the thin side. There wasn't much news overnight. Japan's trade deficit narrowed as expected amid declines in exports and imports. Also, German Ifo was much weaker than expected, as was the UK's CBI industrial trends survey. It's a busy week in the U.S. with the FOMC meeting, supply, earnings and housing, durables data. However, today's slate is light with just the January Dallas Fed index. On the earnings front, Ashland, D.R. Horton, Graco, Halliburton, Kimberly-Clark, and McDonald's will all report quarterly results.
07:35 EDTJPMorgan to hold a conference
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07:25 EDTFX Update:
FX Update: Risk-on in the Asian session soured to risk-off during the European AM session, which has had the usual consequences in forex markets of sending commodity currencies lower and the yen higher. The dollar traded lower against the yen and the euro, but gained versus the likes of the Canadian dollar, which tracked a sharp decline in oil prices. Oil prices once again at the epicentre of broader market sentiment. Brent crude fell some 3% after earlier showing gains of more than 1%. There didn't appear to be a catalyst, though the dip follows Friday's 7%-plus surge. Opec's general secretary said that oil producers must address the supply overhang, though his words had little lasting impact.
07:18 EDTFirst Look Equities to hold a summit
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05:44 EDTOn The Fly: Morning Wrap-Up for January 25
Globex S&P futures are recently down 5.20 from previous day's SPX cash close. Nikkei 225 up 0.90%, Shanghai Shenzhen CSI 300 Index up 0.50%, DAX up 0.19%. WTI Crude oil is recently at $31.35, natural gas down 1.12%, gold at $1104 an ounce, copper up 0.02%.
05:40 EDTOpec's gen. secretary calls on producers to address supply overhand
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05:20 EDTFX Action: CAD-JPY has taken a hit on the oil price side
FX Action: CAD-JPY has taken a hit on the oil price side, which has undermined the Canadian dollar while boosting the yen's haven premium. The cross is presently showing a 0.9% decline, which is the biggest movement out of the dollar pairings and crosses that analysts monitor. Outside of these, the Russian rouble has also taken a hit, presently down 1% against the dollar and about 1.3% for the worse against the yen.
05:17 EDTFebruary front month equity options last day to trade is February 19, 2016
03:40 EDTOil prices are back under pressure
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03:05 EDTFX Action: The main currencies have been consolidating
FX Action: The main currencies have been consolidating the risk-on moves of Friday, even though Asian stocks and oil prices continued to advance, albeit by comparatively moderate magnitudes. The forex market's risk appetite barometer, AUD-JPY, is showing a 0.2% gain but has remained below the 17-day high it posted on Friday, at 83.53. USD-JPY has also remained buoyant in the mid-to-upper 118s, but has left its Friday peak at 118.88 unchallenged. EUR-USD has remained heavy, near 1.0800, but has remained above last week's ECB-induced low at 1.0777. In data today, a 8% drop in Japanese exports in December data provided a reminder of fundamental headwinds, although last week's aggressive liquidity provisions from the PBoC, hopes for more action from the ECB and BoJ, and speculation the FOMC will delay any further tightening until Q2 (at the earliest), have and should continue to maintain investor spirits.
January 24, 2016
14:45 EDTCLSA U.S. banks and energy analysts hold an analyst/industry conference call
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January 23, 2016
21:51 EDTJanuary Treasury STRIPS to be released at 15:00
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