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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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January 15, 2015
09:43 EDTMarket opens higher, quickly gives up gains in early trade
Stock futures improved during the pre-market trading session, leading to a positive open for the broader market. The early weakness in the futures was attributed to the Swiss National Bank unexpectedly changing its policy and removing the exchange rate floor on the franc. Once the dust settled, the S&P began to recoup some of its losses and received help from the biggest drop in the Producer Price Index in more than three years. The early gains quickly evaporated and about 15 minutes into trading, the Dow is down 63 points, the Nasdaq is down 12 points and the S&P is down 5 points.
09:40 EDTU.S. Philly Fed index preview:
U.S. Philly Fed index preview: The Philly Fed is seen decreasing to 20.0 in January from 24.5 in December. Forecast risk is downward, as the decline in December new orders could flag future weakness. This compares to a recent low of -19.0 in August '11 and a high of 36.1 in March '11, while the Philly Fed has been in positive territory since April. for more.
09:30 EDTThe 0.3% U.S. December PPI drop
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09:25 EDTThe Empire State bounce to 9.95
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09:20 EDTFX Action: USD-CAD was all over the map
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09:15 EDTFed's inflation target is in question
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09:00 EDTThe 19k U.S. initial claims pop to 316k
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09:00 EDTU.S. equities rebounded after the mixed trifecta of data
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09:00 EDTEnergy Action: NYMEX crude has surged through $50 resistance
Energy Action: NYMEX crude has surged through $50 resistance, ramping up to $51.23 highs, and up over $4 from London lows. Sources reported very large buy stops from 50.34, which was the January 6 highs. The next upside target comes at $52.65, though some will consider reloading shorts on moves over $52.
08:55 EDTU.S. PPI fell 0.3% in December with the core rate rising 0.3%
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08:50 EDTU.S. Empire State index rebounded to 9.95 in January
U.S. Empire State index rebounded to 9.95 in January after plunging to -1.23 in December (revised up a bit due to benchmarking from -3.58). The employment index rallied to 13.68 versus 8.33. The workweek improved to -8.42 from -11.46. New orders climbed to 6.09 from -1.97. Prices paid increased to 12.63 from 10.42, and prices received basically doubled to 12.63 from 6.25. The 6-month business conditions index rose to 48.35 from 39.31 (revised up from 38.58), with employment at 31.58 from 20.83, orders at 41.44 from 38.85, and prices paid at 33.68 from 40.63.
08:45 EDTTreasury Action: yields are attempting to base
Treasury Action: yields are attempting to base above lows after the wild mix of opening data that included a jump in core PPI, Empire State and jobless claims. The T-note yield had spilled from 1.90% highs in Asia to 1.79% lows in Europe after the Swiss FX peg was freed, but has since bubbled back up to 1.816% again. The 2s-10s spread has settled near +135 bp.
08:45 EDTFX Action: The dollar rallied some
FX Action: The dollar rallied some following the data, which revealed higher jobless claims, but hotter PPI headline data. USD-JPY popped to 116.95 from 116.65, as EUR-USD dipped to 1.1690 from 1.1705. Equity futures indicate a modestly higher Wall Street open, though given recent volatility, anything can happen, while Treasury yields hold above lows.
08:45 EDTU.S. PPI fell 0.3% in December with the core rate rising 0.3%
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08:41 EDTJobless Claims data reported
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08:41 EDTEmpire State Mfg Survey General Business Conditions Index data reported
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08:40 EDTU.S. initial jobless claims rose 19k to 316k in the week ended January 10
U.S. initial jobless claims rose 19k to 316k in the week ended January 10 from a revised 297k previously (was 294k). That brought the 4-week moving average to 298k from 291.25k (revised from 290.5k). Continuing claims declined 51k to 2,424k in the week ended January 3 from 2,475k (revised from 2,452k). The BLS reported nothing unusual in the data.
08:37 EDTFutures turn positive after economic data released
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08:30 EDTEnergy Action: NYMEX crude oil is on one-week highs
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08:20 EDTU.S. PPI Preview
U.S. PPI Preview: December PPI should reveal a 0.4% (median -0.4%) decline for the month following a 0.2% decline in November. The decline will be driven by the plunge in oil prices which should allow the core to grow by 0.1%. This would leave headline PPI up 1.0% y/y and the core up 2.0%.
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