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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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December 15, 2014
10:20 EDTTreasury Action: yields retreated further
Treasury Action: yields retreated further after the NAHB missed as well, with the earlier Empire shortfall also providing some counter-balance to the jump in industrial production. The T-note yield earlier stalled over 2.135% and dipped as low as 2.11% before finding some equillibrium near 2.12%. The 2s-10s spread has continued to narrow to +153 bp, tightening about 2 bp as the approaching FOMC meeting is keeping the front-end elevated, while the long-end is capped by declining global yields. The 5s-30s spread has narrowed to +118 bp.
10:15 EDTFX Action: USD-CAD touched 1.1604 highs
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10:10 EDTU.S. NAHB homebuilder sentiment index fell back to 57 in December
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10:09 EDTHousing Market Index data reported
December Housing Market Index at 57 vs. consensus of 59
09:55 EDTU.S. NAHB housing market index preview:
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09:55 EDTThe 1.3% November U.S. industrial production pop beat estimates
The 1.3% November U.S. industrial production pop beat estimates, after upward revisions that left a 0.1% (was -0.1%) October figure, an even bigger 0.9% (was 0.8%) utility-led September rise, and a smaller 0.1% (was 0.2%) August drop. The upside November surprise reflected a bigger than expected 5.1% weather-led utility surge, alongside a big 1.1% increase in manufacturing, a vehicle-assembly rate bounce to a 12.0 M rate from a depressed 11.1 M October pace, and a 1.2% surge in business equipment output. Mining surprised to the downside however, with a 0.1% November drop that extended a 1.0% (was 0.9%) November decline to suggest a rapid hit from falling oil prices. Industrial production is poised for a solid 6% utility-boosted rate in Q4 despite today's weak Empire State data thanks to atypical cold winter weather, after rates of 4.0% (was 3.3%) in Q3, 5.7% in Q2, and 3.9% in Q1. Analysts've seen a factory outperformance of GDP through this expansion, and particularly in recent quarters, though this may change if oil prices end up having an outsized impact on the factory sector.
09:45 EDTTreasury Option Action: bullish call buying
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09:44 EDTDow bounces back, opens with triple digit gain
Stock futures were higher during the pre-market trading session as oil prices saw a rebound to begin the week. The futures remained higher despite disappointing data from the Empire manufacturing report, leading to a higher open for the broader market. The price of oil weakened just before the market open, so it remains to be seen if the market can hold its early gains. However, in early trading, the Dow is up 123 points, the Nasdaq is up 35 points and the S&P is up 16 points.
09:32 EDTiPath S&P 500 VIX Short-Term Futures is recently down 2.17 to 31.74
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09:30 EDTU.S. industrial production jumped 1.3% in November
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09:30 EDTTreasury Action: yields rebounded from lows
Treasury Action: yields rebounded from lows on the jump in industrial production, which gave the T-note yield a leg back up over 2.12% from 2.1080% NY lows earlier. The 2s-10s spread is trading just inside +154 bp from +155 bp earlier. Stocks have recouped some pre-open gain once more and the dollar has bounced.
09:25 EDTFX Action: The dollar perked up a few points
FX Action: The dollar perked up a few points following the much better industrial production outcome, pushing EUR-USD under 1.2430, and USD-JPY toward 118.80. Equity futures moved to their best levels of the day, as yields bounced a touch.
09:18 EDTDecember Empire State Mfg Survey to be released at 08:30
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09:10 EDTThe Empire State plunge to a -3.6 two-year low
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09:05 EDTU.S. industrial production preview:
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09:00 EDTU.S. equities managed to rebound
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08:45 EDTTreasury Action: yields eased from highs
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08:45 EDTFX Action: The dollar slipped slightly
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08:40 EDTU.S. Empire State manufacturing index collapsed to -3.6 in December
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08:35 EDTFutures remain higher following New York economic data
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