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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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April 22, 2015
14:59 EDTAverages at session highs in late day trading
The averages are in positive territory and have stretched their gains to session highs. The move is broad based, with the S&P 500 now up about 0.5%. Advancing stocks are ahead of declining stocks by 5:4, while up volume is ahead of down volume by an even greater margin. Crude oil prices are lower and gold, which has been under pressure all day, is down 1.4%.
14:45 EDTTreasury Action: debt managers sell $18 B in 5-year TIPS Thursday
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13:35 EDTEuro$ interest rate futures toppled lower
Euro$ interest rate futures toppled lower thanks to the rout on the rate complex, sped by the uptick in existing homes sales and spillover selling from European Bunds and Gilts. The December 2015 contract is 2-ticks lower at 99.365 (implied 0.635%), while the deferreds are 2-7 ticks lower further out the curve. Among recent option deals was a bearish purchase of 5k in Green July 75/77/80 put butterflies and 4k purchase of Short December 85 puts.
13:10 EDTFX Action: USD-JPY has put in its third consecutive higher daily high,
FX Action: USD-JPY has put in its third consecutive higher daily high, peaking at 119.96. Reports of Japanese exporter offers from the 120.00 mark have been heard, which have so far kept the figure out of range. With U.S. yields firmer, and risk appetite supportive, downside may be limited from here. The April 14 peak of 120.12 is the next upside target, and should be easy to attain, with buy-stops reposted at 120.05.
12:20 EDTU.S. equities sustained shallow gains
U.S. equities sustained shallow gains after riding out the much stronger than expected existing home sales print, which brought Fed hike debate back to the surface. Europe remained quite mixed with the Euro Stoxx 50 0.14% higher and the German DAX off 0.6% after the ECB reportedly raised the ELA for Greek banks. The Dow settled under 18k, NASDAQ over 5k and S&P near 2.1k, marginally higher. Top gainers in the Dow are Visa +5.3%, McDonald's +2.4% and Coca-Cola +1.0%, while deepest declines were by Boeing -2.3%, UnitedHealth -0.9% and Intel -0.8%. The VIX equity volatility index is 2.6% lower near 12.90, while the USD index is back over 98.0.
11:35 EDTTreasury Option Action: eerily quiet flows
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11:19 EDTWeek of 5/1 MBA Mortgage Applications to be released at 07:00
11:05 EDTU.S. corporate bond update: Harris Corp has a $2.4 B multi-tranche deal
U.S. corporate bond update: Harris Corp has a $2.4 B multi-tranche deal set to price, including 3-, 5-, 10-, 20-, and 30-year maturities. Citigroup has a benchmark 3-year fixed/FRN, and a 10-year deal on tap. IBRD is offering benchmark 3-year notes. Africa Finance Corp launched a $750 M 5-year. Blackstone is offering $350 M in 30-year bonds.
11:02 EDTBofA/Merrill data center analysts hold an analyst/industry conference call
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10:40 EDTEnergy Action: Front month NYMEX crude rallied to $57.15 from $56.05
Energy Action: Front month NYMEX crude rallied to $57.15 from $56.05 following the EIA inventory data which showed a 5.3 M bbl rise in crude stocks. The street had been expecting a 3.0 M bbl increase. Meanwhile, gasoline supplies, seen down 1.0 M bbls actually fell 2.1 M bbls, while distillate stocks were up 400k bbls, versus expectations for a 1.0 M bbl increase. Refinery usage fell to 91.2% from 92.3%. The crude contract had been on the decline into the data, presumably as the market tried to get ahead of what might have been a higher stock build. With that not the case, weak shorts have been squeezed.
10:30 EDTCrude inventories for week of April 17
Crude oil inventories 5.32M build vs. consensus of 3.2M build. Gasoline inventories 2.14M draw vs. consensus of 1.0M draw. Distillates 395K build vs. consensus of 1.1M build.
10:30 EDTThe 6.1% U.S. existing home sales pop
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10:15 EDTFX Action: The dollar moved higher
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10:10 EDTU.S. existing home sales surged 6.1% to 5.190 M in March
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10:10 EDTTreasury Action: yields ramped higher still
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10:05 EDTHouse Oversight & Government Reform Committee to hold a hearing
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10:02 EDTHouse Agriculture Committee to hold a hearing
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10:00 EDTU.S. Existing Home Sales Preview
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09:56 EDTAverages slightly lower in early trading
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09:50 EDTTreasury Action: yields spoofed higher again
Treasury Action: yields spoofed higher again with some eying stop-running on Bunds for the T-note yield surge through Tuesday highs of 1.92% to probe above 1.93% for this positioning move. Again, it's not as if stocks are opening particularly well, though others suggest vaguely that FHFA home prices may have been a little hot. The Bund yield accelerated over 0.10% to clear 0.127%. Perhaps some "layering or jamming" is spilling over from the USD-JPY spike to highs of 119.78, though how could that be if "Flash Crash" trading Nav Sarao is under house arrest?
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