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Stock Market & Financial Investment News

News Breaks
January 10, 2013
06:08 EDTJanuary front month equity options expire, January 18, 2013
News For NOSYMBOL From The Last 14 Days
Check below for free stories on NOSYMBOL the last two weeks.
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May 22, 2013
14:29 EDTSome Fed members say willing to cut asset purchases by June
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14:28 EDTApril Factory Orders to be released at 10:00
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14:28 EDTMay ISM Non-Mfg Index to be released at 10:00
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14:28 EDT Productivity and Costs to be released at 08:30
14:28 EDTMay ADP Employment Report to be released at 08:15
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14:25 EDTDallas Fed hawk Fisher: printing money does no good
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14:20 EDTTreasury Action: yields are back off highs as stocks extend their declines
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14:15 EDTFOMC Minutes: a number of participants expressed a willingness to adjust purchases downward as early as June
FOMC Minutes: a number of participants expressed a willingness to adjust purchases downward as early as June if the economic data showed evidence of sufficiently strong and sustained growth. But, the Minutes also revealed disagrement on the evidence needed. Also, "many" wanted to see more progress on the labor market before slowing QE. Additionally, recent data opened up some concerns that the recovery was stalling. So, the minutes continue to reflect debate over QE. June sticks out, but analysts don't believe the Committee will be ready to pull the trigger next month.
14:06 EDT'Most' Fed members looking for continued progress before easing
Minutes from the last Federal Reserve meeting state, "Participants also touched on the conditions under which it might be appropriate to change the pace of asset purchases. Most observed that the outlook for the labor market had shown progress since the program was started in September, but many of these participants indicated that continued progress, more confidence in the outlook, or diminished downside risks would be required before slowing the pace of purchases would become appropriate."
14:05 EDTTreasury Option Action: heavy put positioning in 5-year area
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13:57 EDTAverages erase gains, turn mixed for session
Stocks have turned mixed after a sharp move higher to start the day’s trading. The Dow made triple digit gains following dovish comments from Fed Chairman Ben Bernanke, but each of the major indices have erased their early gains, trading well off their best levels. Advancing stocks are even with declining stocks and up volume is also about even with down volume. Crude oil prices are lower by more than 1.5% and gold is up 0.7%. The Dow is up 8 points, the S&P is down 1 point, and the Nasdaq is down 13 points.
13:45 EDTU.S. equities reversed lower
U.S. equities reversed lower as taper talk finally took its toll on the optimistic assets, though it's all a bit premature either way. In the Dow the biggest losers are mostly tech thanks to a 1% Cisco drop, UnitedHealth 0.5% decline and Microsoft 0.4% dip. On the upside, JPM at +2.8%, Home Depot at +2.7% and Pfizer +2.6% are all the leading gainers. NASDAQ is off 0.15%, while the Dow is 0.25% higher and S&P is hanging on to a 0.35% gain. Dallas Fed hawk Fisher and the FOMC minutes are due next.
13:35 EDTFOMC Minutes preview: FOMC minutes will hopefully shed further light on the QE debate
FOMC Minutes preview: FOMC minutes will hopefully shed further light on the QE debate, such as the inclusion of the symmetric stance on asset purchases with in the May 1 policy statement. Analysts suspect it was done to appease the centrist dovish members given the numerous hawkish comments about the costs of QE that have weighed on Treasuries in recent months. Analysts're also going to be interested in ongoing guidence on the economy and inflation. Bernanke's comments were a little more downbeat on both. Meanwhile, in the March minutes it was seen that 1 member wanted to slow purchases immediately; 2 members wanted to continue QE through year end. A "few" thought tapering could begin around mid-year and end later this year, while "sevearl others" thought if the outlook labor market conditions improved as expected, could start trimming purchases later in the year and stop them at year end. Of course analysts'll count up to see if these numbers have changed. But, there's still a big IF on the FOMC's policy course, and that of course is the data.
13:30 EDTFX Action: USD-CAD took out prior 2013 highs of 1.0343
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13:00 EDTGoldman Sachs reiterated a Dec FOMC taper launch
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12:40 EDTTreasury Action: the T-note yield has cleared 2.0% again
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12:00 EDTFX Action: The dollar has largely stabilized
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11:42 EDTWeek of 5/31 MBA Purchase Applications to be released at 07:00
11:42 EDTSeptember S&P Case-Shiller HPI to be released at 09:00
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11:40 EDTPIMCO's Gross Tweeted on Bernanke:
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