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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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January 21, 2015
09:45 EDTEuro$ interest rate options: mixed flows
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09:38 EDTECB said to weigh bond buying program of EUR 50B per month, Bloomberg reports
The ECB quantitative easing program is said to be considered to run at EUR 50B per month through 2016, according to Bloomberg.
09:25 EDTBank of Canada Governor Poloz holds a news conference
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09:25 EDTThe 4.4% December U.S. housing starts bounce
The 4.4% December U.S. housing starts bounce to a 1.089 M clip beat estimates, after upward October and November revisions, alongside a 6.3% bounce in completions that mostly reversed the October-November drop. Yet, analysts also saw a 1.39% permits decline to a surprisingly lean 1.032 M pace that trimmed prospects for starts in January. A hefty 2.3% December pop in starts under construction slightly lifted the balance of risks for Q4 GDP, were analysts still expect 3.5% growth. The weather improved sharply in December after harsh weather in November as was evident in the big utility gyration in the last industrial production report that included a 7.3% December plunge after a 4.2% November surge though regional starts data slow little evidence. Beyond weather, the single-digit pace of recovery in the 2014 housing market was disappointing on net. Starts and permits are both poised for restrained Q1 rates in the 1.065 M area, versus prior respective rates of 1.075 M and 1.059 M in Q4 and a 1.030 M rate for both in Q3.
09:16 EDTCFA Society of Atlanta to hold annual forecasting event
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09:15 EDTU.S. Redbook reported chain store sales slid 3.5% for the month-to-date
U.S. Redbook reported chain store sales slid 3.5% for the month-to-date ending January 17, from a 3.2% decline previously. Compared to the same period last year, sales slowed a bit to 3.4% y/y versus 3.8% y/y. According to the Goldman Sachs/Retail Economist (formerly known as the ICSC index), sales fell 1.3% in the week ended January 17 after a 2.1% decline previously. It's a third straight monthly decline for this measure. The post-holiday shopping season is starting off with a thud as discounting weighs a bit on the bottom line. Compared to last year, however, the Retail Economist sales index rose at a 3.4% y/y rate versus the prior 2.8% y/y clip, though not as fast as the 3.9% y/y pace for the January 3 week.
09:08 EDTRedbook Store Sales data reported
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09:08 EDTFinancial Stability Oversight Council to hold a meeting
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09:05 EDTAmerican Enterprise Institute holds a discussion on the FCC
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09:05 EDTU.S. equities rolled over lower after an IBM miss
U.S. equities rolled over lower after an IBM miss and amid caution emerging ahead of the ECB meeting tomorrow, which, if history is any future guide, could come up shy of market expectations on full-blown QE (ECB's Nowotny downplayed). Housing starts rose 4.4% in December, perhaps beginning to feel the benefit of lower global rates, though permits were lower. This didn't thrill stocks and the Dow is 65-points lower, S&P fell 5-points and NASDAQ is off 7-points in pre-market action. The Euro Stoxx 50 is above earlier lows, but still 0.4% lower and the Swiss Market Index is 2% lower after more mixed trade in Asia with the Japan N-225 0.49% lower and the Shanghai Comp 4.7% higher. IBM shed 2.5% after coming up shy of expectations, while Qualcomm sank 2.8% after reports Samsung may not use its chips in its next Smartphone. That said, Netflix surged 18% on news of increased subscriber growth.
09:04 EDTCFA Society of Columbus to hold a luncheon meeting
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09:02 EDTCFA Society of Washington, D.C. to hold a luncheon meeting
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09:01 EDTCFA Society of Pittsburgh to hold luncheon meeting
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08:55 EDTFX Action: The dollar didn't do much of anything
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08:45 EDTTreasury Action: yields probed lows perversely
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08:40 EDTU.S. housing starts rebounded 4.4% to 1.089 M in December
U.S. housing starts rebounded 4.4% to 1.089 M in December after falling 4.5% to 1.043 in November (revised from 1.028 M; October's prior 1.045 M pace was revised to 1.092 M). Building permits dropped another 1.9% to 1.032 M from a revised 1.052 M (was 1.035 M). Single family starts increased 7.2% following a 5.2% December drop (revised from -5.4%), while multifamily starts dipped 0.8% after a 3.2% decline previously (revised from a 6.7% gain). Housing completions were up 6.3% after declines of 4.7% in November (revised from 6.4%) and 3.7% in October (revised from 2.9%).
08:35 EDTFX Action: USD-CAD has retreated from Tuesday's trend high
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08:34 EDTFutures remain lower ahead of open
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08:25 EDTJapan is a cautionary tale for the Fed
Japan is a cautionary tale for the Fed so says WSJ's Hilsenrath in the Grand Central blog after telling us on Monday that a mid-2015 is still a virtual lock. Prematurely hiking rates in 2006, only to have to knock them back down again following the financial crisis, which would be the "nightmare scenario" for the Fed. "Federal Reserve officials say it would be a disaster if they attempt to raise rates and then are forced to push them back down to zero. It is one reason why many officials want to be patient and certain the U.S. economy is fully on the mend before the central bank moves toward raising rates later this year. Yes, yes, yes, there are many differences between Japan’s economy, financial system and central bank and the U.S. Analysts have heard this many times. Still, Japan's experience is a reminder that any number of factors - bad luck, global economic shocks, nagging headwinds to the domestic economy, the drags of an aging population -- could derail the Fed's hopeful plans. Perhaps this is one reason why investors - who have pushed long-term U.S. rates down in recent weeks and whose futures market rate expectations are lower than the Fed's published forecasts - are so skeptical that U.S. rates are anywhere near returning to normal."
08:15 EDTU.S. Housing Starts Preview
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