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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.
News For NOSYMBOL From The Last 14 Days
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November 10, 2014
07:24 EDTStock futures quiet as week’s trading is set to begin
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07:22 EDTSecurities Industry & Financial Markets Association to hold annual meeting
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07:21 EDTBofA/Merrill to hold a conference
Russia & CIS 1:1 Conference is being held in London, England on November 10-11.
07:09 EDTSterne Agee to hold a conference
4th Annual Philadelphia SMID Cap Conference to be held in Philadelphia on November 10.
07:09 EDTEmpire Startups to hold a conference
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06:40 EDTChina to link stock exchanges starting November 17, Reuters reports
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06:40 EDTFX Update: The dollar gave back some of the post-U.S. jobs gain
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06:22 EDTOn The Fly: Morning Wrap-Up for November 10
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05:56 EDTStocks with implied volatility above IV index mean; GME ACHN
Stocks with implied volatility above IV index mean; GameStop (GME) 66, Achillion (ACHN) 226 according to iVolatility
05:56 EDTNovember front month equity options last day to trade is November 21, 2014
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November 9, 2014
18:54 EDTChina approves $113B of infrastructure investments, Reuters says
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18:29 EDTChina's exports and imports slowed in October, Reuters says
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09:34 EDTRetail Sales less autos to be reported at 08:30
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09:34 EDTConsumer Sentiment Index to be reported at 09:55
Consumer Sentiment Index will be reported at 09:55 . Current consensus is 87.5
09:34 EDTBusiness Inventories to be reported at 10:00
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09:34 EDTRetail Sales to be reported at 08:30
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09:34 EDTTreasury Budget to be reported at 14:00
October Treasury Budget will be reported at 14:00 . Current consensus is $[130.0]B
09:34 EDTJOLTS Job Openings to be reported at 10:00
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09:34 EDTWholesale Trade Inventories to be reported at 10:00
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09:34 EDTNFIB Small Business Optimism Index level to be reported at 07:30
October NFIB Small Business Optimism Index level will be reported at 07:30 . Current consensus is 96.0
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