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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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November 18, 2014
12:55 EDTFX Action: USD-JPY has been range bound
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12:50 EDTU.S. corporate bond update: it's another heavy issuance day
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12:05 EDTEuro$ interest rate options: mixed positioning
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11:41 EDTJPMorgan life science tools analyst to hold an analyst/industry conference call
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11:40 EDTTreasury's $40 B 4-week bill auction was ok
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10:45 EDTTreasury Option Action: block and vol trade on 5-year futures
Treasury Option Action: block and vol trade on 5-year futures was cited, with the block sale of 7.3k in December 119-18.25 5-year futures and the sale of 1.5k in February 118 put/119.5 call strangles (volatility) as well. Yet December 5s are 2.2-ticks firmer near 119-172 compared to their 119-20 to 119-155 range.
10:35 EDTU.S. equities have snapped to life
U.S. equities have snapped to life following the bounce in NAHB, while also piggy-backing solid gains in Europe after the firm German ZEW reading ahead of the open. Euro Stoxx 50 is 1.15% higher and the German DAX extended gains to 1.6% on the day. The major U.S. indices are 0.4-0.5% firmer after a flat start. Among the top gainers in the Dow are UnitedHealth +2.0%, Intel +1.4% and Boeing +1.0%, while Home Depot is at the bottom of the heap -0.9%.
10:30 EDTTreasury Option Action: fairly quiet trade
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10:30 EDTFed Policy Outlook:
Fed Policy Outlook: better than expected PPI and NAHB data should not alter views on the rate trajectory. While the improvement is good news for policymakers (it's certainly better than stagnation or erosion) neither report is indicative of sufficient strength to get the FOMC excited. In the case of PPI, the strength of the numbers was in service prices and with the ongoing slide in energy and other commodities, a meaningful pick-up in prices isn't likely. The tepid recovery in housing has also been a thorn in the Fed's side, and while homebuilder sentiment improved to the high end of its recent range, it's still far below pre-financial crisis highs that were in the 70s. Market consensus for a rate hike continues to shift from mid- to late 2015. Given the deterioration in Asian growth, the stagnation in Europe, weakness in prices, and very limited gains in wages, not to mention the dovish make-up of the 2015 FOMC, a hike in the first half of 2015 seems unlikely.
10:15 EDTTreasury Action: yields remain on neutral footing
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10:10 EDTU.S. NAHB homebuilder index rose 4 points to 58 in November
U.S. NAHB homebuilder index rose 4 points to 58 in November, nearly fully unwinding the 5 point drop to 54 in October. Note the 59 from September was the highest since November 2005 when the index hit 61, and compares to a cyclical high of 72 from June 2005, and an all time peak of 78 from December 1998. The low reading was 8 from January 2009. The present single family sales index rebounded 5 points to 62 after falling 6 points previously to 57, while the future sales index edged up 2 points to 66 from 64. The index of prospective buyer traffic increased 4 points to 45 from 41.
10:10 EDTOil Action: NYMEX crude
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10:08 EDTE-Commerce Retail Sales E- Q/Q Change SAAR data reported
E-Commerce Retail Sales E- Q/Q Change SAAR up 4.0% for the quarter
10:08 EDTHousing Market Index data reported
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09:45 EDTU.S. NAHB housing market index preview:
U.S. NAHB housing market index preview: the housing market index (HMI) is seen rising 2-points to 56 in November from 54. For more detail, see the NAHB website.
09:42 EDTQuiet open suggests another lackluster session
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09:35 EDTTreasury Action: the market remains range-bound
Treasury Action: the market remains range-bound with the 10-year yield tightly confined to the 2.28% to 2.38% zone for now. It's not clear what will break the market out, probably one of the unforecastable events that crop up on occasion. A less than hawkish slant to the FOMC Minutes tomorrow my help knock yields to the lower end of the range. Curve flattening trades, softer inflation, and prospects for further BoJ and ECB stimulus also point to lower yields. But, the omnipresent thought that the Fed will start normalizing rates next year should help put a floor under rates. Sources also say current market positioning doesn't argue for much of a decline in yields -- the JPMorgan "all client" survey showed a rise in net longs and a fall in net shorts, with the latter at the lowest level since April.
09:05 EDTThe 0.2% U.S. October PPI rise with a 0.4% core price pop
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09:00 EDTFX Action: USD-CAD peaked at 1.1305
FX Action: USD-CAD peaked at 1.1305 after the U.S. PPI data, rallying modestly from 1.1290. The pairing based at 1.1260 in London, and made its way higher into the North American open as oil prices gave back overnight gains. WTI is trading at $75.30, after peaking at $76.44 earlier. Equity futures meanwhile, are struggling to hold on to modest gains, also supportive of USD-CAD currently. Support remains at 1.1260, while Monday's 1.1328 high steps in as interim resistance.
09:00 EDTU.S. equities are largely unchanged
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