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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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October 31, 2014
09:44 EDTS&P opens in record territory after BOJ stimulus
Stock futures were sharply higher throughout the pre-market trading session following the Bank of Japan stimulus measures that lifted markets around the world. The futures action led to a higher open for the broader market, pushing the S&P to record territory and the Nasdaq to multi-year highs. The next economic reports due out this morning include the Chicago PMI report and the University of Michigan consumer confidence reading. In early trading, the Dow is up 145 points, the Nasdaq is up 59 points and the S&P is up 18 points.
09:40 EDTChicago ISM preview:
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09:40 EDTU. Michigan sentiment preview:
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09:40 EDTFX Action: USD-JPY plowed through the 112.00 mark
FX Action: USD-JPY plowed through the 112.00 mark, ramping up to 112.15 highs, a new seven-year peak. EUR-USD meanwhile, was pushed easily under 1.2500, to 1.2486 lows, levels not seen since August of 2012. Both pairings have pulled back from their extremes, as the initial surge of stop orders run their course.
09:20 EDTThe 0.7% U.S. Q3 ECI rise beat estimates
The 0.7% U.S. Q3 ECI rise beat estimates, following the same big 0.7% Q2 rise but lean 0.3% cycle-low rise in Q1, as ECI gains this year are moving above the 0.4%-0.5% ECI gains in each of the nine quarters ending in Q4 of last year. Analysts have a 0.6% average quarterly rise thus far in 2014 that adds to the gradual cyclical uptrend in labor cost growth from late-2009 recession-lows. The y/y ECI rise climbed to the same 2.2% cycle-high seen back in Q2 of 2011, from 2.0% in Q2, 1.8% in Q1, versus a 1.4% cycle-low in Q4 of 2009. For y/y component increases, analysts saw a 2.1% cycle-high y/y Q3 wage gain that followed a 1.8% Q2 rise and a 1.6% Q1 increase, versus a cycle-low 1.4% wage rise in Q4 of 2011. The y/y benefit cost gain slipped to 2.4% in Q3 from 2.5% in Q2, and 2.1% in Q1, versus a 3.6% cycle-high in Q2 of 2011 and a 1.5% cycle-low in Q3 and Q4 of 2009.
09:05 EDTU.S. equities romped higher
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09:05 EDTFX Action: Broad-based USD buying has resumed
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09:05 EDTToday's U.S. income report revealed a September undershoot
Today's U.S. income report revealed a September undershoot for both income and spending after modest boosts back in July that left a down-tilt in the Q3 figures around the disappointing quarterly averages in yesterday's GDP report. Income rose just 0.2% in September with 0.2% declines in both nominal and "real" consumption, with spending hits from retail sales declines alongside a service consumption rise as analysts further reverse a big July weather-hit. The 0.2% September income rise undershot the 0.5% hours-worked rise with a flat hourly earnings figure in the last jobs report, while the 0.2% September consumption drop tracked the 0.3% headline retail sales drop with a 0.2% ex-auto decline. Analysts lowered our Q4 GDP growth forecast to 2.5% (was 2.8%), following yesterday's 3.5% Q3 growth figure. Analysts lowered our Q4 real consumption growth forecast to 2.4% (was 2.7%), following the disappointing 1.8% Q3 climb. Analysts expect lean personal income growth of just 3.3% in Q4 with a 2.9% pace for disposable income, following higher prior respective growth rates of 4.2% and 4.0% in Q3,and 6.3% and 6.8% in Q2.
08:55 EDTFX Action: USD-CAD ran up from 1.1180
FX Action: USD-CAD ran up from 1.1180 into the Canadian GDP data, to over 1.1250 in the aftermath, where the marginally softer outcome saw buyers step in. Monday's 1.1255 high is in sight now, with the 1.1300 level set to move back into the cross hairs on a break of the level. Gold is down nearly 3%, while WTI crude is now down flirting with the $80/bbl mark, both likely to weigh further on the CAD.
08:50 EDTTreasury Action: yields steadied mid-range
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08:45 EDTU.S. ECI climbed another 0.7% in Q3
U.S. ECI climbed another 0.7% in Q3, the same pace as in Q2 and more than double Q1's 0.3%. And it's up 2.2% y/y versus 2.0% y/y in Q2. Compensation increased 0.8% last quarter after a 0.6% increase previously, with benefits up 0.6%, a little cooler compared to the 1.0% Q2 surge.
08:45 EDTFX Action: The dollar pulled back fractionally
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08:40 EDTU.S. personal income rose 0.2% in September, while spending fell 0.2%
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08:37 EDTFutures continue to suggest a sharply higher open
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08:35 EDTOil Action: NYMEX crude is down nearly 1.0%,
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08:34 EDTEmployment Cost Index ECI data reported
Employment Cost Index ECI up 0.7% vs. consensus of 0.5% for the quarter
08:10 EDTU.S. employment cost index preview:
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08:10 EDTU.S. personal income preview:
U.S. personal income preview: personal income is expected to grow 0.4% in September (median 0.3%), while consumption should be unchanged (median 0.1%). For the PCE chain price data, analysts expect a -0.1% rate for September with an unchanged rate for the core, which compares to CPI forecasts of -0.1% and 0.2%. for more detail.
08:00 EDTTreasury Market Outlook: Treasuries are lower
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07:55 EDTN.Y. FX Outlook
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