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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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April 1, 2015
10:25 EDTThe U.S. ISM March drop to a 51.5 two-year low
The U.S. ISM March drop to a 51.5 two-year low from 52.9 in February left a fifth consecutive decline, as the measure falls well below the recent-high of 58.1 last August. The oil-price hit to mining, an inventory overhang, harsh weather, and the port labor dispute likely explain ongoing declines in producer sentiment, as seen in all the major sentiment surveys since November, and as also reflected in a Q1 slowdown for GDP and industrial production. Today's ISM drop accompanied a Chicago PMI uptick to 46.3 from a 45.8 five-year low, a Dallas Fed plunge to a -17.4 four-year low that was also seen in April of 2013, from -11.2, a Richmond Fed decline to -8.0 from zero, a Philly Fed drop to 5.0 from 5.2, and an Empire State decline to 6.90 from 7.78. Analysts expect an ISM-NMI down-tick to 56.7 from 56.9. The weak mix of major sentiment readings should allow the ISM-adjusted average to fall sharply to just 50 from 52 in January and February, 53 in December, 55 over the four months ending in November, and a 56 cycle-high last July that was also seen back in February and March of 2011.
10:25 EDTFed Policy Outlook: data continues to paint a picture of Q1 weakness
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10:15 EDTFX Action: The dollar headed lower
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10:15 EDTTreasury Action: yields remained under pressure lower
Treasury Action: yields remained under pressure lower in the wake of the drop in ISM and its employment sub-index slipping to right on top of the 50 boom-bust line. Likewise, construction spending missed and fell as well, keeping the bulls in charge on bonds, while stocks and the dollar post additional declines. Auto sales have been trickling out and haven't been that firm either. The T-note yield decline extended under 1.86%, some 9 basis points below highs of 1.95% ahead of the open - that puts 1.852% March lows in the cross-hairs. The 2s-10s spread continues to slide as well to +132 bp, another 2 bp tighter.
10:15 EDTU.S. construction spending dipped 0.1% in February
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10:12 EDTConstruction Spending data reported
February Construction Spending down -0.1% vs. consensus of 0.2% for the month
10:12 EDTISM Mfg Index data reported
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10:10 EDTU.S. ISM manufacturing index fell to 51.5 in March
U.S. ISM manufacturing index fell to 51.5 in March, lower than forecast, after dipping to 52.9 in February. It's a 5th straight monthly decline and is the weakest since May 2013, reflecting a significant slowing in manufacturing since the summer. The employment component eroded to 50.0, right at the expansion-contraction line, from 51.4. New orders slipped to 51.8 from 52.5. New export orders crashed to 47.5 from 48.5. Meanwhile, prices paid rose to 39.0 from 35.0.
10:00 EDTU.S. Manufacturing ISM Preview
U.S. Manufacturing ISM Preview: March ISM should reveal a headline decline to 52.5 (median 52.5) from 52.9 in February. Other measures of sentiment have declined for the month with both the Empire State and Philly Fed down. The component weakness in these early month reports points toward downside risk in the ISM as analysts discussed in our March 23rd commentary.
10:00 EDTTreasury Action: Japanese accounts are reportedly buyers in the belly
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09:55 EDTU.S. Markit PMI edged up to 55.7 for the final March print
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09:45 EDTEuro$ interest rate options: a variety of flows
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09:44 EDTStocks begins Q2 in negative territory
Stock futures weakened during the pre-market trading session, suggesting a follow through to yesterday’s selloff. The broader market opened in negative territory as the second quarter of the year gets under way. In addition to PMI reports from China and Europe, manufacturing data for the U.S. is due shortly. Ahead of domestic manufacturing reports from Markit and the ISM, the Dow is down 128 points, the Nasdaq is down 33 points and the S&P is down 15 points.
09:35 EDTGoldman economist Jan Hatzius rolled back Fed hike call
Goldman economist Jan Hatzius rolled back Fed hike call to "very late this year or early next year," which seems to more closely align with slowing economic indicators of late, including the latest on jobs from ADP, thanks to a variety of known headwinds in the energy sector, firm dollar and deep freeze in the northeast. Analysts are sticking with September for now.
09:12 EDTAmerican Enterprise Institute holds a discussion with the FTC
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09:10 EDTU.S. Auto Sales Preview
U.S. Auto Sales Preview: March auto sales data from the major automakers will be released throughout the day and analysts expect sales to accelerate 3.9% to a 16.8 M pace after a 2.3% dip to a 16.2 M pace in February. Domestic car sales are expected to pick up to a 5.5 M (median 5.4 M) pace from 5.2 M in February and truck sales should be 7.9 M (median 7.8 M) from 7.7 M in February.
09:05 EDTU.S. equities reversed lower on weak ADP
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08:40 EDTSF Fed dove Williams canceled his appearance
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08:40 EDTFed's Lockhart says the June-September is a reasonable timeframe
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08:35 EDTTreasury Action: yields tripped lower
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