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Stock Market & Financial Investment News

News Breaks
January 2, 2013
14:45 EDTMoody's: 'Cliff' deal not basis for meaningful improvement in U.S. debt ratios
Moody's Investors Service said that the fiscal package passed by both houses of Congress yesterday is a further step in clarifying the medium-term deficit and debt trajectory of the federal government. It does not, however, provide a basis for a meaningful improvement in the government's debt ratios over the medium term. The rating agency expects that further fiscal measures are likely to be taken in coming months that would result in lower future budget deficits, which are necessary if the negative outlook on the government's bond rating is to be returned to stable. On the other hand, lack of further deficit reduction measures could affect the rating negatively. Notably, yesterday's package does not address the federal government's statutory debt limit, which was reached on December 31. The need to raise the debt limit may affect the outcome of future budget negotiations. Moody's said the macroeconomic effects of the package are positive, since it averts the recession that would likely have occurred had personal income taxes gone up for all income levels. However, the increase in the Social Security payroll tax from 4.2% to 6.2% of income that became effective on January 1 will likely be a constraint on growth in coming quarters. Furthermore, expenditure cuts that may be decided in coming months could also affect the rate of GDP growth in the near term. Overall, therefore, the recent package mitigates part of the fiscal drag on the economy associated with the fiscal cliff but does not eliminate it. Moody's added that it believes that the debt limit will eventually be raised and that the risk of default on Treasury bonds is extremely low, this confluence of events adds uncertainty to the outcome of negotiations. However, the spending measures that result from the negotiations will form part of the medium-term outlook for the budget deficit. Moody's will need to consider these measures in assessing the rating outlook. Further revenue measures may also form part of the negotiations. The debt trajectory resulting from this process is likely to determine whether the Aaa rating is returned to a stable outlook or downgraded to Aa1, as Moody's previously stated.
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February 17, 2015
04:19 EDTFebruary front month equity options last day to trade is February 20, 2015
02:40 EDTFX Update: A lack of progress with Greece
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February 16, 2015
20:00 EDT 3-Month Bill Auction to be released at 11:30
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20:00 EDT 6-Month Bill Auction to be released at 11:30
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20:00 EDT 4-Week Bill Announcement to be released at 11:00
13:56 EDTGreece rejects EU proposal to extend existing bailout, Bloomberg says
Talks in Brussels today on a Greek aid deal ended as an official from Prime Minister Alexis Tsipras’s government said the euro area’s proposal to extend existing bailout commitments was “absurd” and “unacceptable,” says Bloomberg. Reference Link
13:25 EDTFX Summary: EUR-USD dipped below Friday's low
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07:10 EDTFX Update: The dollar has been mixed
FX Update: The dollar has been mixed, posting moderate losses against the euro and yen, while gaining against sterling. EUR-USD traded north of 1.1400 for the most part after closing just below here on Friday. USD-JPY edged out a one-week low at 118.36 during Tokyo trade amid a bout of general dollar softness, subsequently settling 118.60, about 20 pips down on last week's closing level. The Feb-9 low at 118.33 remained untroubled. Japanese preliminary Q4 GDP data today showed Japan exiting recession but not as strongly as expected, which helps maintain the view that the BoJ is likely to make fresh stimulus later in the year (though not likely as soon as this week's policy meeting). Cable tumbled to the 1.5370 area on profit taking and a bid tone in EUR-GBP after clocking a six-week high of 1.5440 during early London trade, which had been seen as the market reacted to a fresh set of hawkish BoE-speak. USD-CAD ebbed to a 10-day low at 1.2421 before steadying around 1.2440-50. The Canadian dollar has found an underpinning amid stronger oil prices in recent days.
03:05 EDTFX Update: EUR-USD is moderately firmer today
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February 15, 2015
14:00 EDTEU bailout fund chief says Greek exit would be worst option, WSJ says
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February 14, 2015
22:11 EDTIndustrial Production Capacity Utilization Rate to be reported at 09:15
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22:11 EDTPMI Manufacturing Index Flash Level to be reported at 09:45
February PMI Manufacturing Index Flash Level will be reported at 09:45 . Current consensus is 53.8
22:11 EDTPhiladelphia Fed Survey General Business Conditions Index to be reported at 10:00
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22:11 EDTIndustrial Production to be reported at 09:15
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22:11 EDTPPI-FD less food & energy to be reported at 08:30
January PPI-FD less food & energy will be reported at 08:30 . Current consensus is 0.1% for the month
22:11 EDTPPI-FD to be reported at 08:30
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22:11 EDTHousing Starts Permits to be reported at 08:30
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22:11 EDTEmpire State Mfg Survey General Business Conditions Index to be reported at 08:30
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22:11 EDTHousing Starts to be reported at 08:30
January Housing Starts will be reported at 08:30 . Current consensus is 1.070M
22:11 EDTHousing Market Index to be reported at 10:00
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