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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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February 26, 2015
10:00 EDTTreasury Action: yields have extended their bounce
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09:50 EDTThe 0.7% January U.S. CPI headline drop
The 0.7% January U.S. CPI headline drop was larger than expected thanks to a particularly big 9.7% energy price drop with a flat food price figure, though analysts saw a firm 0.2% (0.178%) core price rise that was lifted by a 0.3% apparel price rise after big Q4 declines. Analysts expect a 0.1% CPI drop in February thanks to a further net oil price decline before a likely March bounce. Analysts now expect a 0.6% January PCE chain price drop with a 0.1% core price rise. Analysts still expect a flat January nominal PCE figure that is restrained by the big 0.8% January retail sales plunge with a 0.9% ex-auto decline, though analysts expect a big January boost from utility consumption that should fuel a 0.6% rise in the "real" January PCE figure. Our 2.5% Q1 GDP growth forecast assumes 1.1% nominal consumption growth with a 4.7% (was 4.3%) real rise and a 3.1% chain price plunge. Today's CPI decline nearly matched last week's 0.8% January PPI drop, alongside an enormous 2.1% January drop for PPI on the old SOP basis. The January trade price report revealed a 2.0% export price plunge that accompanied an oil-led 2.8% import price decline.
09:48 EDTBloomberg Consumer Comfort Index Level data reported
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09:43 EDTMarket has another quiet open
Stock futures drifted lower during the pre-market trading session, leading to a flat open for the broader market. The host of economic reports released prior to the open were generally in-line with expectations with the exception of the initial jobless claims report, which showed higher than expected first-time claims last week. The market moved in a narrow range yesterday and may show the same lack of volatility today. The averages are mixed in early trading, with the Dow down 16 points, the Nasdaq up 8 points and the S&P down 1 point.
09:35 EDTThe U.S. durables report
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09:15 EDTU.S. equities reversed into the red
U.S. equities reversed into the red in the wake of the trifecta of data that included an uptick in core CPI, headline bounce in durables (weak ex-transport) and rebound in jobless claims; beneath the surface not that strong. The Dow is 12-points in the red, S&P sank 1-point and NASDAQ is up 5-points, below previous shallow gains. Europe is still slightly firmer, with the Euro Stoxx 50 up 0.3% after gains of 1.08% on Japan's Nikkei and a 2.1% rise on the Shanghai Comp amid stimulus hopes. Aside from the mixed data, Salesforce.com jumped nearly 11% after a 26% gain in revenues, along with raised earnings and guidance, while Transocean rose 4.4% after firm results. Morgan Stanley sank 0.5% after a $2.6 B settlement for claims on mortgage bond sales.
09:15 EDTU.S. FHFA home price index rose 0.8% to 218.6 in December
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09:00 EDTThe 31k U.S. initial claims bounce to 313k
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08:55 EDTU.S. CPI fell 0.7% in January with the core rate rising 0.2%
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08:50 EDTFX Action: The dollar moved up
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08:50 EDTU.S. durable goods orders rebounded 2.8% in January
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08:45 EDTU.S. initial jobless claims rose 31k to 313k in the week ended February 21
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08:45 EDTTreasury Action: yields popped up from lows
Treasury Action: yields popped up from lows on the headline data, though the big durables gain was mostly Boeing, the 0.2% rise in core CPI was hardly inflamatory and jobless claims rebounded. That should cap the knee-jerk yield rise to 1.96% on the T-note, which has already pulled back to 1.94% compared to lows near 1.93% earlier. The 2s-10s spread has tightened to +133 bp overnight, but slightly outside earlier narrows.
08:42 EDTJobless Claims data reported
Week of 2/21 Jobless Claims at 313K vs. consensus of 290K
08:38 EDTFutures little changed after economic reports
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08:25 EDTFedspeak from moderate Lockhart of the Atlanta Fed
Fedspeak from moderate Lockhart of the Atlanta Fed on monetary policy and the economic outlook has been cancelled before the 2015 Banking Outlook Conference there. But Dallas Fed hawk Fisher will be again tapping his recent "Reflections on 10-years at the Fed: Through the Financial Crisis" speech in London at Imperial College of London from 13:15 ET.
08:15 EDTCanada CPI Preview
Canada CPI Preview: Analysts expect CPI to slow to a 0.8% y/y pace in January from the 1.5% pace in December. CPI is seen falling 0.3% m/m in January after the 0.7% plunge in December. Another hefty drop in gasoline prices should drive month comparable CPI lower. But the impact of gasoline prices on total CPI should be reduced due to changes made in the CPI weights. The BoC's core CPI index is seen rising 0.1% in January, similar to the action seen in past months of January. Annual core CPI growth is expected to expand at a 2.1% y/y rate, down from the 2.2% clip in December and in-line with the 2.1% pace in November.
08:15 EDTU.S. durable goods orders preview:
U.S. durable goods orders preview: durable goods orders are expected to grow 2.5% in January (median 1.6%), or 0.1% ex-transportation, with shipments up 0.5%. Inventories are expected to grow by 0.3% in January, which would leave the I/S ratio steady from 1.66 last month. Forecast risk is downward, as there was a huge drop in Boeing orders in January. preview for more.
08:15 EDTU.S. CPI preview:
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08:15 EDTU.S. initial jobless claims preview:
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