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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
Check below for free stories on NOSYMBOL the last two weeks.
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August 21, 2014
10:15 EDTFX Action: The dollar edged higher
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10:15 EDTU.S. July existing home sales rose 2.4% to 5.150 M
U.S. July existing home sales rose 2.4% to 5.150 M after a same-sized increase to 5.030 M in June (revised from 5.040 M). This is a fourth consecutive monthly gain and is a 10 month high. Single family sales increased 2.7%, while condo/coop sales were flat. The months' supply of homes was steady at 5.5 months. The median sales price increased to $222,900 versus $222,000 (revised from $223,300), and is up 4.9% y/y. Data are better than expected and could start to tame Fed fears over the housing market.
10:15 EDTTreasury Action: yields remained pinned down
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10:10 EDTU.S. Philly Fed manufacturing index climbed 4.1 to 28.0 in August
U.S. Philly Fed manufacturing index climbed 4.1 to 28.0 in August after popping up 6.1 points to 23.9 in July. This is the highest since the 34.7 from March 2011. However, the components were mixed and belie the headline strength. The employment index slid to 9.1 from 12.2 (the latter was the best since October 2013). The workweek edged up to 13.3 from 12.5. New orders were more than halved to 14.7 from 34.2. Prices paid dropped to 24.9 from 34.7, while prices received crumbled to 4.2 from 16.8. The 6-month business conditions index surged to 66.4, however, from 58.1, with employment at 24.7 from 29.1, and capital expenditures at 17.5 from 18.9.
10:02 EDTExisting Home Sales data reported
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10:02 EDTLeading Indicators data reported
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09:55 EDTU.S. leading indicators preview:
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09:55 EDTU.S. Markit flash PMI climbed to 58.0 in August
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09:50 EDTU.S. Philadelphia Fed Index Preview
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09:50 EDTU.S. Existing Home Sales Preview
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09:40 EDTTreasury Option Action: bearish positioning on a short 10-year
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09:34 EDTMarket hoping to extend winning ways
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09:34 EDTJPMorgan automotive analyst holds an analyst/industry conference call
Auto Analyst Brinkman provides an industry update and outlook on an Analyst/Industry conference call to be held on August 21 at 10 am.
09:32 EDTJPMorgan LatAm telecos/education analysts hold analyst/industry conference call
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09:25 EDTTreasury 5-year TIPS auction:
Treasury 5-year TIPS auction: Treasury reopens $16 B in 5-year TIPS this afternoon. Yields on shorter dated issues are a little higher with the April 5-year at -0.294% versus -0.33% yesterday, which compare to the award rate of -0.213%. The updraft in yield should provide some underpinning to the auction, but in the midest of summer doldrums and with inflation still quite benign, demand should be lacking. The April auction saw a 2.70 cover and a 58.4% indirect bid. Analysts look for overseas accounts to again support this auction.
09:24 EDTFederal Reserve Bank of Kansas City to hold symposium
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08:50 EDTThe 14k U.S. initial claims drop to 298k
The 14k U.S. initial claims drop to 298k in the August BLS survey week trimmed the prior 22k bounce to 312k (was 311k) from 290k at the start of the month to leave a five-week stretch of oscillations around lean claims since the depressing effect of auto retooling that left a 279k mid-July cycle-low. Claims are averaging 303k thus far in August, which is above the tight 296k July figure but well below prior averages of 315k in June and 312k in May. Today's 298k August BLS survey week reading sits below the tight 303k July figure, as well as previous BLS readings of 314k in June and 327k in May. Analysts assume a 210k August payroll gain that sits between the 209k July increase and the 214k average rise of the last twelve months, though analysts may see some August give-back of July strength for the goods-sector data as a temporary boost from firm July truck assembly rates is unwound. Payrolls face ongoing upside risk from tight claims, a firm Q3 producer sentiment and ADP trajectory, solid vehicle assembly rates, and an ongoing consumer confidence climb back above mid-2013 levels.
08:50 EDTU.S. equities are on the rise again
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08:45 EDTTreasury Action: bonds were not bothered
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08:45 EDTFX Action: The dollar largely shrugged off
FX Action: The dollar largely shrugged off the slightly better than consensus jobless claims, with EUR-USD trading just under 1.3270, and USD-JPY hovering near 103.80. Trade will likely turn a bit more cautious going forward, where eyes will be on Yellen's Jackson Hole speech on Friday, and on the weekend, where some position paring may be in store in light of geopolitical risks.
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