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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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October 14, 2014
05:45 EDTFX Action: The dollar has recovered on weak European data
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02:20 EDTFX Update: The dollar dropped quiet sharply in early Asia
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October 13, 2014
15:34 EDTiPath S&P 500 VIX Short-Term Futures are recently up 2.58 to 38.14
14:22 EDT Boston Federal Reserve President Eric Rosengren Speech to be released at 08:30
14:22 EDT Federal Reserve Chair Janet Yellen Speech to be released at 08:35
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14:22 EDT Atlanta Federal Reserve President Dennis Lockhart Speech to be released at 12:30
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11:26 EDTCitigroup homebuilding analysts hold an analyst/industry conference call
Homebuilding Analyst Research Team, along with Campbell Surveys' Research Director, Tom Popik, discuss quarterly existing home sales trends via Campbell Surveys' HousingPulse Tracking Survey on an Analyst/Industry conference call to be held on October 24 at 1 pm.
10:01 EDTBernstein U.S. utilities analyst holds an analyst/industry conference call
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09:45 EDTBernstein biotech analyst to hold an analyst/industry conference call
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09:36 EDTMarket opens lower, averages reverse in early trading
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08:59 EDTCitigroup to hold a conference
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08:07 EDTJefferies industrials analysts hold an analyst/industry conference call
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07:53 EDTCredit Suisse macroeconomics analysts hold analyst/industry conference call
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07:40 EDTFederal Reserve Bank President of Chicago speaks at conference
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07:29 EDTFutures show little bounce following last week’s decline
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07:15 EDTFX Update: The dollar is starting the week on a softer footing
FX Update: The dollar is starting the week on a softer footing, having given back most of its advance seen Friday against the euro and sterling while dropping to a four-week low against the outperforming yen. Trading conditions have and will remain thin today in the absence of Japan, the U.S. and Canada for respective public holidays. USD-JPY has been a catalyst for the softer dollar today, with the yen outperforming amid an air of risk aversion. The MSCI Asia Pacific continued lower today, and S&P 500 futures are also lower as market participants fret about global growth concerns and high valuations. The yen has an historical inverse correlation with risk appetite, as the a combination of Japanese repatriation of capital invested in overseas assets and squaring out of yen-funded carry positions tend to support the yen during the bad times, and the opposite forces tend to see the currency underperform during the good times. USD-JPY today dove to a low of 107.06, down just over 50 pips on Friday's closing level. EUR-USD recovered to the upper 1.26s.
06:31 EDTChinese trade data surpasses expectations, Reuters says
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06:02 EDTOn The Fly: Morning Wrap-Up for October 13
Globex S&P futures are recently up 2.60 from previous day’s SPX cash close. Nikkei 225 down 1.15%, DAX up 0.33%. WTI Crude oil is recently at $84.54, natural gas down 0.26%, gold at $1228 an ounce, and copper up 0.08%.
05:58 EDTOctober front month equity options last day to trade is October 17, 2014
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05:20 EDTFX Action: USD-JPY recovered the 107.50 level
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