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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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September 3, 2015
10:30 EDTEIA natural gas storage change for week ending August 28
Gas inventories 94 Bcf build vs. consensus of 93 Bcf build.
10:20 EDTThe U.S. ISM-NMI drop in August to 59.0
The U.S. ISM-NMI drop in August to 59.0 trimmed the July surge to 60.3 ten-year high from 56.0 in June and a 55.7 one-year low in May, leaving the measure still-above the 58.8 prior cycle-high last November. The ISM-adjusted measure fell to 58.1 from a 59.7 ten-year high, versus 55.8 in June and a 54.7 one-year low in May. Analysts saw the same 58.1 prior cycle-high in November. The ISM-NMI has shown a larger and more sustained bounce into mid-year than the factory sentiment measures after less of a drop-back during the November-March period, as might be expected if the service sector is benefiting from the boost to household purchasing power from lower gasoline prices while the depressed factory sector is facing a petro-sector headwind. The mix of a strong ISM-NMI but weak factory sector survey readings allowed the ISM-adjusted average of the major surveys to fall back to the 51 two-year low seen over the three months ending in May before the temporary June-July bounce to 53, versus 55 over the four months ending in November and a 56 cycle-high last July that was also seen in February and March of 2011.
10:15 EDTTreasury Action: yields held steady at higher levels
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10:15 EDTFX Action: The dollar remained largely static
FX Action: The dollar remained largely static after the slight services ISM beat, and remains near session highs versus the euro, though off of best levels against the yen. EUR-USD trades near 1.1110, while USD-JPY is running into resistance under 120.00. Stocks are off their best levels, though still in the green.
10:12 EDTISM Non-Mfg Index Composite data reported
August ISM Non-Mfg Index Composite at 59.0 vs. consensus of 58.5
10:10 EDTU.S. ISM non-manufacturing index dipped to 59.0 in August
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10:00 EDTU.S. Markit services PMI rose to 56.1 for the final August print
U.S. Markit services PMI rose to 56.1 for the final August print, versus July's 55.7 and compared to the 55.2 preliminary August reading. It's a second consecutive gain, reflecting a pick up in activity after the expansion in the service sector had been in slowing mode in April, May, and June. Prices charged fell to 49.4 versus July's 51.8 and is the weakest since November 2010. The composite PMI was steady at 55.7.
10:00 EDTTreasury Action: yields reversed higher again
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10:00 EDTFX Action: USD-CAD has dropped to session lows
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09:49 EDTMarket extends gains in early trading
Stock futures were higher throughout the pre-market trading session, leading to a higher open for the broader market. The market will be looking to extend its gains from yesterday and will get help from China, since its market is closed for a holiday. Over the past few weeks the market has reacted to the Chinese trading sessions, many times taking its lead from what occurred the previous night. Tomorrow's monthly nonfarm payrolls report, which will be released prior to the open, will clearly be the highlight of the week and set the tone ahead of the long holiday weekend. In early trading, the Dow is up 108 points, the Nasdaq is up 24 points and the S&P is up 14 points.
09:45 EDTU.S. Non-Manufacturing ISM Preview:
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09:40 EDTThe July U.S. trade deficit drop to $41.9 B
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09:25 EDTEuro$ interest rate futures rallied
Euro$ interest rate futures rallied with the more dovish tone coming out of the ECB, while U.S. data was quickly shrugged off and stocks have settled back down from highs. Fed uber-dove Kocherlakota will be on air later, but long after the close. The December 2015 contract is up a half tick near 99.54 (0.460% implied yield) compared to yesterday's lows of 99.515 (0.485%). The deferreds are 1-5 ticks higher out the back of the curve as the rest of the world continues to tug the Fed away from its normalization objective.
09:14 EDTBrookings Institute to hold a discussion
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09:13 EDTCitigroup to hold a conference
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09:12 EDTDeutsche Bank to hold a conference
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09:11 EDTMacquarie to hold a conference
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09:10 EDTTreasury Action: yields took a dive with those of Bunds
Treasury Action: yields took a dive with those of Bunds in the wake of ECB Draghi's press conference references to full implementation of QE amid downside risks, along with a wider pool of assets for that op, which was treated like an ease by the markets. The T-note yield tumbled from the 2.17% area to probe 2.15% again, as the Bund yield dropped from the 0.77% area to lows of 0.73%. That's widened the Bund/T-note spread to +142 bp. U.S. trade and claims data fell to the background in fast-paced moves on stocks and bonds in Europe.
09:10 EDTFX Action: USD-CAD slipped to 1.3247 lows
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09:00 EDTU.S. equities are on a tear firmer
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