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Stock Market & Financial Investment News

News Breaks
December 28, 2012
09:45 EDTISM Non-Mfg Index Composite to be reported at 10:00
December ISM Non-Mfg Index Composite will be reported at 10:00 . Current consensus is 54.5
News For NOSYMBOL From The Last 14 Days
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March 18, 2015
09:05 EDTAltering Fed guidance is likely to lead to increased volatility
Altering Fed guidance is likely to lead to increased volatility according to WSJ Fedwatcher Hilsenrath in his preview (subscription) of this afternoon's decision. That's the upshot if the Fed drops "patient" as expected, while IMF Director Lagarde has warned this could be akin to the "taper tantrum" episode that boosted rates briefly. Recent data has been deteriorating somewhat, however, which could complicate the decision. That may be reflected in the Fed's quarterly forecasts and rate projections as well. This could be accompanied by more vague language on interest rates after the "measured pace" guidance of the past was seen as a failure. They are not seen reversing their still accommodative stance just yet and should be clear to reassure that rates will remain below long-term averages for some time.
08:35 EDTU.S. equities are back on the defensive
U.S. equities are back on the defensive as the Fed wraps up its 2-day meeting today with fresh guidance about the policy outlook, which will attempt to walk the line between opening up the flexibility to hike rates this summer, but without committing to that act. NYMEX crude is 2.5% lower again into the low $42s. The Dow is 85-points lower, S&P sank 8-points and NASDAQ fell 15-points in pre-open action. In Asia, Japan's N-225 rose 0.55% and the Shanghai Comp added another 2.13% on stimulus hopes, while the Euro Stoxx 50 is 0.28% lower after Grexit fears rekindled. Adobe Systems sank 4.5% after a sales miss, while Oracle gained 2.2% after decent dollar-adjusted gains and a boost in its dividend. Alibaba's IPO lock-up expires on Wednesday, potentially leading to selling pressure. Fedex reported a 53% jump in earnings in Q4, benefiting from lower fuel prices and restructuring, though forward guidance disappointed. Citi and Barclays are expected to settle and FX trading lawsuit for $800 M.
08:20 EDTCanada January Wholesale Preview
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08:16 EDTWashington Association of Money Managers to hold a discussion
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08:16 EDTJoint Economic Committee to hold a hearing
The Committee holds a hearing entitled, "The Economic Report of the President" with Chairman Furman of the Council of Economic Advisers on March 18 at 2:30 pm. Webcast Link
08:15 EDTEnergy Action: NYMEX crude fell to $42.04
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08:12 EDTSenate Commerce, Science & Transportation Committee holds a hearing
The Committee holds a hearing entitled, "Oversight of the Federal Communications Commission" with FCC Commissioners Mignon Clyburn, Michael O'Rielly, Ajit Pai, Jessica Rosenworcel and FCC Chairman Tom Wheeler on March 18 at 2:30 pm. Webcast Link
08:03 EDTThe FCC to hold a council meeting
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07:51 EDTHouse Homeland Security Committee
The Subcommittee on Oversight and Management Efficiency holds a hearing entitled, "Unmanned Aerial System Threats: Exploring Security Implications and Mitigation Technologies" is being held on March 18 at 10 am. Webcast Link
07:48 EDTHouse Financial Services Committee to hold a hearing
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07:35 EDTN.Y. FX Outlook
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07:34 EDTU.S. Commodity Futures Trading Commission to hold a public roundtable
The CFTC holds a Roundtable on Cybersecurity & System Safeguards Testing to review system safeguards testing requirements, including potential enhancements to further strengthen the resilience of futures exchanges, clearing organizations and swap data repositories and is being held at CFTC Washington, D.C. offices on March 18 at 9 am.
07:30 EDTTreasury Market Outlook: Treasuries are modestly higher
Treasury Market Outlook: Treasuries are modestly higher, in sync with gains in core sovereigns overseas. The 10-year note yield has slipped to test 2.02%, the lowest since late February as the market sees little prospect of an overly hawkish Fed. U.K. Gilts are the outperformers of the session with the rate down over 7 bps to 1.601% after dovish MPC minutes and disappointing jobs data. That's brought the spread to the Treasury note to the lowest since mid 2006. Concurrently, Germany saw a strong 10-year Bund auction. European bourses are mostly lower as Grexit fears flare up again, and are weighing on U.S. equity futures. In the U.S. today, it's all about the FOMC. The policy statement, the economic projections, and Yellen's presser are all awaited for insights on the timing of rate lift-off. Today's data calendar is thin. The MBA reported mortgage applications fell 3.9% in the week of March 13. The only other item today are oil inventories.
07:30 EDTU.S. MBA mortgage market index sank 3.9%
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07:26 EDTFitch Ratings to hold a webcast
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07:25 EDTFutures lower as Fed watch begins
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07:25 EDTFitch Ratings to hold a webcast
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07:20 EDTFX Update: Sterling dove while other the majors stuck to narrow ranges
FX Update: Sterling dove while other the majors stuck to narrow ranges ahead of today's FOMC's announcement. The pound fell on sub-forecast labour market data and dovish-leaning BoE minutes from the early March MPC meeting. Cable breached the Mar-12 trend low at 1.4699 on route to logging a low of 1.4656, while EUR-GBP extended recovery gains from last week's seven-year low. EUR-USD, meanwhile, remained in close orbit around 1.0600. USD-JPY continued to trade in a narrow range in the 121s for a fourth consecutive trading day in Tokyo. The Nikkei stock index's rally in to 15-year high territory hasn't had much impact on the yen over this time. Japanese pension funds have reportedly been buying USD-JPY, but exporters have been sellers, and speculative and hedging accounts have been trimming dollar long exposures into the FOMC. This leaves USD-JPY in a consolidation phase after making a seven-and-a-half year peak early last week at 122.03.
07:16 EDTStandard & Poor's to hold a webinar
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07:13 EDTCitigroup to hold a conference
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