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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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August 3, 2015
09:55 EDTU.S. construction spending preview:
U.S. construction spending preview: Construction spending is expected to grow 0.2% in June (median 0.6%) following a 0.8% gain in May. Forecast risk is upward, however, as housing data improved in June, while total construction is currently 37% above the bottom in February of 2011. For more detail, see our full construction spending preview.
09:55 EDTU.S. Markit ISM manufacturing index inched up to 53.8 in July
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09:55 EDTU.S. Auto Sales preview
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09:52 EDTDows slips in early trading after quiet open to start August
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09:45 EDTTreasury Action: yields dipped on the ISM drop
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09:35 EDTFX Action: The dollar pulled back
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09:30 EDTU.S. ISM fell to 52.7 in July from 53.5
U.S. ISM fell to 52.7 in July from 53.5, weaker than expected. The employment component dropped to 52.7 versus 55.5. Prices paid also declined, sliding to 44.0 from 49.5. The softer data should support recent gains in bonds as the September Fed rate hike is in doubt.
09:25 EDTU.S. equities are set for a subdued open
U.S. equities are set for a subdued open to kick off the month of August despite some fireworks overseas with more trouble in mainland China and Greek stocks reopening with the large haircut that debt holders have yet to take. Personal income data was not a deal breaker in terms of a Fed hike in September, but after weak ECI on Friday WSJ points out that the Fed could be back on the fence. The Dow is 20-points firmer, S&P is a point higher and NASDAQ is up 3-points in pre-open trade. In China, the Shanghai Comp fell 1.1% after a PMI sank to a 2-year low, while Japan's N-225 fell 0.18%. In Europe, Athens recovered to -15% after opening some 22% lower, though the broader Euro Stoxx 50 is 1.0% higher. Focus will be on another rash of earnings reports after the close, along with the next round of ISM, construction and auto sales reports.
09:24 EDTISM manufacturing index for July reported at 52.7
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09:15 EDTThe U.S. June income and consumption gains of 0.4% and 0.2%
The U.S. June income and consumption gains of 0.4% and 0.2% respectively beat estimates, though with undershoots in April-May, and three-years of revisions from last week's Q2 GDP report that sharply lowered recent levels for disposable income and real consumption with smaller downward revisions in personal income and nominal consumption. A result was a recent lowering of the savings rate and a lift in the chain price index. Though the savings rate rose in June, to 4.8%, this followed big downward revisions that left a smaller savings rate rise in 2015. Our Q3 GDP estimate was left at 3.0%, but our "real" consumption growth forecast was raised to 2.6% (was 2.5%) with a 4.4% (was 4.0%) nominal clip. Analysts expect respectable Q3 growth of 4.8% for personal income and 4.6% for disposable income, after smaller respective Q2 rates of 3.9% (was 4.4%) and 3.7% (was 4.1%). The annual revisions revealed a sharp hike in personal current tax payments since the expiration of the "Bush tax cuts" in January of 2013, and a more recent steep climb in tax payments in 2015, leaving a larger headwind for GDP growth than previously indicated.
09:10 EDTFurther Gains for U.S. Payrolls in July:
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09:05 EDTEnergy Action: NYMEX crude
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08:55 EDTFed doesn't demand wage growth before hiking rates
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08:45 EDTTreasury Action: yields held above lows
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08:45 EDTFX Action: The dollar reacted positively
FX Action: The dollar reacted positively to the better June income print, and in-line consumption data, though downwardly revised May data saw USD gains reverse quickly. EUR-USD fell to intra day lows of 1.0942 from over 1.0955, though is back again to pre-data levels, while USD-JPY rallied to 124.27 from 124.20. Equity futures are mixed, while yields are steady above lows.
08:41 EDTFutures still quiet after personal income, spending reports
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08:40 EDTU.S. personal income rose 0.4% in June with spending up 0.2%
U.S. personal income rose 0.4% in June with spending up 0.2%, a little better than forecast. But May's 0.5% income gain was revised down to 0.4%, while the 0.9% spending gain was nudged down to 0.7% so it was basically a wash (note benchmark revisions were included today). For income details, compensation was up 0.2% following a 0.4% May gain. Wages and salaries increased 0.2% also, versus 0.4% previously (revised from 0.5%). Disposable income increased 0.5% versus 0.4% previously (revised from 0.5%). The savings rate rose to 4.8% versus 4.6% previously (revised from 5.1%). The PCE chain price index was up 0.2% compared to the 0.3% increase in May, while the core rate was up 0.1%, the same as for April and May.
08:31 EDT Federal Reserve Gov. Jerome Powell Speech to be released at 09:00
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08:31 EDTGallup US Consumer Spending Measure level data reported
July Gallup US Consumer Spending Measure level at $91
08:31 EDT Atlanta Federal Reserve Bank President Dennis Lockhart Speech to be released at 12:25
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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 | >>

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