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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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January 27, 2015
13:10 EDTU.S. equities rounded off the bottom with an Apple bounce
U.S. equities rounded off the bottom with an Apple bounce in their eyes ahead of its earnings after the close. This followed getting sucked lower with the European close as the Euro Stoxx 50 finished 1.22% lower and Athens 5.0% lower (above session lows). NASDAQ has cut losses to -1.5%. Apple is still down 1.5% near $111.32, but closer to session highs of $112.48 than lows of $109.75. A miss by the tech gadget firm would be devastating to weakened stocks, but that's not expected to be the case as strong demand for the higher margin iPhone 6 series, which should bolster its earnings, though dollar strength could be a catch here too especially for global sales. Other highlights could be on iPad vs Mac sales, the roll-out of Apple Pay and the Apple watch could all factor in. Median estimates are for $53.7 B in revenue vs $45.7 B for the year-ago quarter and forward guidance will of course be key. The bulk of the Dow remains in the red, however, after earnings and durables misses, with the deepest holes dug by Microsoft -8.8%, Caterpillar -7.8% and Intel -4.3%. Note, risk proxy USD-JPY is rebounding as well.
12:15 EDTTreasury Action: Treasuries are still in rally mode
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11:55 EDTFX Action: USD-CAD traded through sell-stops at 1.2390
FX Action: USD-CAD traded through sell-stops at 1.2390, on its way to 1.2380 lows. The pairing has returned over the 1.2400 mark, though with WTI oil prices up over $1 from overnight lows, and approaching $46.00, USD-CAD sellers have returned over the figure. The overnight move to 1.2500 prompted a good amount of position squaring, and given the more than 100 point retracement, analysts look for the pairing to consolidate on either side of 1.2400 near term.
11:25 EDTGundlach of Doubleline scoffed at Fed hiking rates
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11:15 EDTEuro$ interest rate options: bullish put selling
Euro$ interest rate options: bullish put selling has been reported in the latest wave of activity on the short-dated rate contracts, including the sale of 17k in June 2015 93/93/96 put butterflies and sale of 5k in Short March 86/88 put spreads. Though the underlying deferred contracts are still as much as 9-ticks firmer thanks to the slump in stocks, sources believe this is mostly pre-FOMC position unwinding.
11:15 EDTToday's U.S. reports
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10:45 EDTThe U.S. consumer confidence January surge to a cycle-high 102.9
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10:35 EDTThe 11.6% U.S. new home sales pop
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10:35 EDTTreasury Action: a wild ride for the 30-year
Treasury Action: a wild ride for the 30-year culminated in a run to a historic low yield of 2.3289% before bubbling back up over 2.34%, well off session highs of 2.4095%. In the melee after the damp durables print the cash bond yield perversely shot to that session high near 2.41% before plunging back down to 2.34% again, a move rumored to be driven by some HFT (high-frequency) crew or other fast-money type. It especially stood out as there was no parallel move on the 10-year yield at all, just a big downbar on the yield from the 1.80% area to 1.76% at the time, lending credence to the conspiracy theory.
10:30 EDTU.S. Markit flash services PMI rose to 54.0 in January
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10:30 EDTFed Policy Outlook: FOMC began its meeting at 10:00 ET.
Fed Policy Outlook: FOMC began its meeting at 10:00 ET. It is not expected to make major changes in its policy statement tomorrow. The Fed made the shift in its December announcement away from "considerable time" toward a "patient" approach in terms of its normalization path and is widely expected to retain that posture. Analysts don't expect the Fed to tip its hand yet on the timing of rate liftoff. Indeed, if the path is truly data dependent, policymakers can't predetermine that outcome, though many have already indicated their best guess is around mid-2015 given the improvement in the economy and labor market. However, the stronger dollar, declining oil prices, deceleration in price pressures, falling inflation expectations, and minimal wage pressures suggest the first rate hike could be delayed into the second half of 2015, as analysts suspect, if not 2016. Note that retaining the "patient" characterization would take an April rate hike off the table (Yellen defined patient as meaning no tightening for the next two meetings.
10:30 EDTU.S. new home sales rebounded a hefty 11.6% to 481k in December
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10:25 EDTU.S. Richmond Fed manufacturing index dipped to 6 in January
U.S. Richmond Fed manufacturing index dipped to 6 in January from 7 in December, having ranged in 2014 from -5 (March) to 20 (October). The employment component dropped to 5 from 13, but with the workweek doubling to 8 from 4. Wages fell to 3 versus 8. New order volume was flat at 4. The annualized percent change in prices paid dropped to 0.7% from 1.26%. The 6-month shipment index dipped to 30 compared to 38 in December, with employment falling to 18 versus 23, new orders at 29 from 34, with the annualized percent change in prices paid sliding to 1.17% from 1.46%.
10:15 EDTFX Action: The dollar edged higher
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10:15 EDTTreasury Action: yields based above lows
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10:10 EDTU.S. consumer confidence jumped to 102.9 in January
U.S. consumer confidence jumped to 102.9 in January from an upwardly revised 93.1 in December (was 92.6). This is the best read since August 2007, and was helped by the gains on Wall Street and lower gas prices. The present situations component surged to 112.6 from 99.9 (revised from 98.6). The expectations component rose to 96.4 from 88.5. The labor market differential improved significantly, basically halved to -5.2 from -10.6 (revised from -10.6).
10:05 EDTU.S. new home sales preview:
U.S. new home sales preview: new home sales are expected to increase 1.6% to a 445k unit pace in December (median 450 M) from 438k in November. Forecast risk is upward, given the improvement in the December starts. preview.
10:00 EDTU.S. consumer confidence preview:
U.S. consumer confidence preview: January Consumer Confidence is expected to increase to 97.0 (median 95.1) from 92.6 in December, as sinking gasoline prices, falling rates and rising wealth boost confidence. This compares to a recent low of 25.3 in February of 2009. Forecast risk is upward, given firm figures in the first Michigan release. preview.
09:56 EDTMarket down sharply after Microsoft, Caterpillar, durable goods disappoint
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09:55 EDTU.S. Markit services flash PMI preview:
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<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | all recent NOSYMBOL news | >>

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