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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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April 30, 2015
10:00 EDTTreasury Action: yields are on the warpath
Treasury Action: yields are on the warpath again turning higher in the wake of the hotter than expected Chicago PMI reading, on top of the earlier claims plunge, ECI jump and PCE rise. Relative to the dovish but data-dependent Fed statement yesterday, that has caught the bond market on the hop. The T-note yield has backed over 2.10% from 2.03% early a.m. levels to the highest mark in 1.5-months, with mid-March 2.15% level above and 2015 highs of 2.259% on March 6 in contention if the sell-off continues to gather momentum at an institutional level. The 2-year yield is back above 0.60% as well and the curve has steepened 3 basis points to +150 bp.
09:55 EDTU.S. Chicago PMI rose 6.0 points to 52.3 in April
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09:50 EDTFed Policy Outlook: the FOMC removed its calendar guidance yesterday
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09:50 EDTChicago PMI preview:
Chicago PMI preview: Chicago PMI is forecast to rise to 49.0 in April (median 49.0) compared to a 46.3 reading in March. For more detail see our ISM-related indices page.
09:50 EDTFX Action: Dollar gains have been significant
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09:40 EDTMarket opens lower on final day of April
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09:40 EDTA NY Fed report on algorithmic trading
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09:35 EDTThe 0.7% U.S. Q1 ECI rise beat estimates
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09:20 EDTToday's U.S. income report
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08:55 EDTU.S. equities are back on the defensive
U.S. equities are back on the defensive after grinding lower overnight, but above lows after a wave of early data that included flat personal income and 0.4% in spending, while Q1 ECI rose 0.7% and jobless claims plunged 34k. Asia was a bit messy with a 2.69% dive in Japan's Nikkei after the BoJ didn't spoon feed any more liquidity than before, while the HK Hang Seng sank 0.9%. Some equilibrium has returned in Europe, with another Greek deadline for Sunday and the Euro Stoxx 50 is 0.3% higher even after the euro forged to a fresh trend high of 1.1248 (it's back below 1.1175 now). Curiously, Apple is down 1% after many watch functions were disrupted by the tattoos of early adopters (really). The Dow is 26-points lower, S&P sank 2-points and NASDAQ is off 14-points ahead of the opening bell. In earnings news, Yahoo dove 18% after sub-par earnings, Baidu sank 4% after slow revenue growth. On deck is Chicago PMI.
08:50 EDTFX Action: The dollar advanced some
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08:50 EDTThe 34k U.S. initial claims plunge to a 262k new cycle-low
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08:45 EDTU.S. personal income was flat while consumption increased 0.4% in March
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08:45 EDTU.S. Q1 employment cost index climbed 0.7%
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08:45 EDTTreasury Action: yields ticked back up from lows
Treasury Action: yields ticked back up from lows following the sizeable plunge in jobless claims, which didn't seem to have any erroneous explanation, while personal income was unchanged and ECI 0.7% higher. On balance one firm data print shouldn't alter the weaker trend, though it will raise the stakes ahead of the jobs report in early May. The T-note yield based at 2.03%, rebounded over 2.05%, though remains within its rough 2.020-2.067% range. The 2s-10s spread is trading out at +147 bp.
08:44 EDTEmployment Cost Index ECI data reported
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08:44 EDTJobless Claims data reported
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08:40 EDTU.S. initial jobless claims slid 34k to 262k in the week ended April 25
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08:35 EDTU.S. Initial Jobless Claims Preview
U.S. Initial Jobless Claims Preview: Initial claims data for the week of April 25th should reveal a 5k decline to 290k (median 290k) headline, down from 295k last week and 294k in the week of April 11th. Analysts saw the usual seasonal volatility around the Easter Holiday and claims in April look poised to average a higher 292k from 285k in March and 206k in February.
08:34 EDTFutures remain lower following economic reports
Stock futures remain lower following the release of the weekly jobless claims report and the personal income and spending reports. There were 262K initial claims versus the expected 290K, while continuing claims came in at 2.2M versus the expected 2.3M. Personal income was unchanged, versus expectations of a 0.2% increase, while spending rose 0.4% versus expectations of a 0.5% increase.
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