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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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June 25, 2015
10:15 EDTTreasury Action: yields turned choppy below highs
Treasury Action: yields turned choppy below highs following the drop in Markit services flash PMI at the same time the Eurogroup talks were "temporarily-indefinitely" suspended (conflicting headlines) until Greece comes back with another counter proposal, while Greek PM Tsipras subsequently said he's convinced a compromise can be reached. Most see negotiations going well into the weekend, with the real deadline next Tuesday's debt payment deadline. The T-note swung with Bunds, slumping to 2.383% on talks ended headlines before rebounding to 2.41% on more optimistic Tsipras headlines. Likewise, stocks and the dollar are being whipped around. All in a day's work.
10:05 EDTFX Action: USD-CAD has traded softer
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10:00 EDTU.S. Markit services index fell to 54.8 for the flash June reading
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09:45 EDTMarket opens higher as Greece continues talks
Stock futures were higher during the pre-market trading session, but finished off their best levels. The strength comes as talks continue between Greece and its creditors as a debt deadline quickly approaches. There will be little else for investors to follow today, as the main domestic economic reports have already been released. Markit's service PMI for June and the weekly natural gas inventory report remain to be released. In early trading, the Dow is up 2 points, the Nasdaq is up 7 points and the S&P is up 1 point.
09:30 EDTFireworks watch in early July for Fed:
Fireworks watch in early July for Fed: WSJ's Hilsenrath in his Grand Central blog (subscription) thinks the Fed could signal a September hike based on events early in July: "Fed watchers can mark their calendars with the following dates: July 2, July 8 and July 15. During that span of 13 days next month, the Labor Department will release its next jobs report (Thursday due to July 4th), minutes of the Fed's last policy meeting will be released and Fed Chairwoman Janet Yellen will begin two days of testimony presenting the central bank's semiannual report to Congress. The sequence of events could provide the makings for important disclosures on the central banking beat." A 200k June jobs gain and jobless dip, FOMC minutes and semi-annual Yellen testimony could take the spotlight since she won't be attending the annual Wyoming Fed retreat in August that has in the past been used as a signaling event.
09:20 EDTTreasury 7-year auction outlook:
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09:20 EDTThe U.S. income report revealed upside surprises
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08:55 EDTU.S. equities have rebounded
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08:45 EDTTreasury Action: yields remained elevated
Treasury Action: yields remained elevated after the firm income/spending readings and still-low jobless claims, which fit with the better underlying picture of the economy. The T-note yield nudged back over 2.40%, up from 2.37% lows in Asia, though stocks are below overnight highs. The 2s-10s spread is holding near +170 bp.
08:45 EDTU.S. personal income rose 0.5% with spending up 0.9% in May
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08:45 EDTThe 3k U.S. initial claims bounce to 271k
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08:45 EDTFX Action: The dollar rallied
FX Action: The dollar rallied after the mix of data, where jobless claims and income were in line with consensus, and consumption rose above forecasts. EUR-USD dipped to 1.1190 from 1.1210, as USD-JPY approached 123.75 from near 123.60. Equity futures maintained gains, as Treasury yields stayed firm.
08:40 EDTU.S. initial jobless claims rose 3k to 271k in the week ended June 20
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08:35 EDTFutures remain higher following early economic data
Stock futures remain higher following the release of the weekly jobless claims data and personal income and spending reports. Initial jobless claims were 271,000, versus expectations for 273,00 first-time claims, while continuing claims were 2.24M, versus a forecast of 2.21M. Personal income rose 0.5% in May, matching the consensus expectation, while spending rose 0.9%, versus the expected 0.7% increase.
08:35 EDTFed's Tarullo stuck to the topic of regulation in early remarks
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08:31 EDTBarclays analyst research team holds an analyst/industry conference call
Barclaycard Commercial Head of Product Development Richard Silvey discusses an overview of the virtual card product, the current state of the commercial payments market, the potential opportunity for the players in the ecosystem on an Analyst/Industry conference call to be held on June 25 at 11 am.
08:25 EDTU.S. Initial Jobless Claims Preview
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08:25 EDTFedspeak resumes with Fed Governor Tarullo
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08:15 EDTU.S. Personal Income Preview
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08:10 EDTEnergy Action: NYMEX crude was relatively steady
Energy Action: NYMEX crude was relatively steady overnight, managing $60.43 highs, and a low of $59.86. Increased refined product demand in the U.S. and Europe in particular, has been supportive of crude prices most recently, though over supply, and reports of unsold cargoes of Brent and Nigerian crude have been offsetting factors. RBOB gasoline futures have settled in near $2.055/gallon, coming off of near $2.11 highs following a surprise build in inventories, reported on Wednesday. Natural gas futures are on one-week highs of $2.78/M BTU, ahead of EIA inventory data, which is expected to reveal a small stock build.
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