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Stock Market & Financial Investment News

News For NOSYMBOL;NOSYMBOL From The Last 14 Days
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May 12, 2015
07:23 EDTFutures suggest sharp sell-off
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06:51 EDTGreece used emergency reserves to make IMF payment, Reuters reports
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06:46 EDTChina says growth in April was 'reasonable,' Reuters reports
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05:57 EDTOn The Fly: Morning Wrap-Up for May 12
Globex S&P futures are recently down 16.10 from previous day’s SPX cash close. Nikkei 225 up 0.02%, DAX down 2.91%. WTI Crude oil is recently at $59.68, natural gas down 2.22%, gold at $1183 an ounce, copper up 0.90%.
05:51 EDTMay front month equity options last day to trade is May 15, 2015
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03:25 EDTFX Action: USD-JPY ebbed back toward 120.00
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02:35 EDTFX Update: EUR-USD continued to make time in the 1.11s
FX Update: EUR-USD continued to make time in the 1.11s after dipping to a one-week low at 1.1130 on Monday. Yesterday's statement from the Eurogroup reported progress in bailout negotiations with Greece, but said that more time and effort are needed to bridge the gaps. Elsewhere, USD-JPY rose to a one-week high of 120.28, and EUR-JPY and other yen crosses also gained. BoJ Governor Kuroda said today that the central bank is not thinking of cutting interest on excess reserves. Sterling continued its post-election outperformance. Cable hit its highest level since Dec-13 in making 1.5613, since settling in the upper-1.55s. EUR-GBP hit a two-week low at 0.7141, reversing sharping from the pre-election peak at 0.7486. The election result is a relief for markets, while tomorrow's monthly labour market report is expected to should show both the claimant count and unemployment rates falling to new cycle lows. Weakness in the UK BRC April retail sales report was downplayed as a consequence of the timing of Easter this year. AUD-USD logged a two-day high at 0.7940, aided by a strong Australian home loans data, and after Fitch ratings stated, "There is still little evidence to suggest Australia's AAA rating will come under threat over our usual rating horizon of about two years."
May 11, 2015
15:35 EDTTreasury Closing Summary:
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14:20 EDTAverages turn negative in lackluster session
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14:20 EDTTreasury Action: the refunding issues continue to cheapen
Treasury Action: the refunding issues continue to cheapen ahead of the auctions. The 3-year kicks off the offerings Tuesday and the wi has climbed over 4 bps to hit 1.00%. While that's above the 0.865% award rate from April, it would still be one of the richest rates of the year. And with Fed rate liftoff now in play prominently, traders may want more of a concession. Last month's auction weren't as strong as those earlier in the year, which in hindsight may have been a harbinger of the poor demand of late. However, the auctions have a $3 B paydown supporting, and still wide spreads to European sovereigns.
13:45 EDTFX Action: USD-JPY's slow crawl higher today
FX Action: USD-JPY's slow crawl higher today has resulted in a 120.12 peak, after opening the session near 119.90, and posting a low of 119.82. Not much has changed for this pairing of late, though near term, a N.Y. close over the 50-day moving average, currently at 119.93, may embolden dollar bulls to a degree. Bigger picture however, range trade remains the rule. Friday's post-jobs report high of 120.23 provides near term resistance.
13:15 EDTTreasury Option Action: more put buying at long-end
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13:00 EDTAtlanta Fed's GDPNow hasn't been updated
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12:45 EDTTreasury Action: Treasuries remain weaker as the usual suspects weigh
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12:00 EDTU.S. equities remain on a lateral track
U.S. equities remain on a lateral track drifting in and out of the red without much direction or momentum. Europe remains soft with the Euro Stoxx 50 still 0.7% lower and the German DAX off 0.3% despite the reported IMF payment by Greece, though Athens has pared losses to -2.5% from -3.0% around the U.S. open. NYMEX crude remains a hair under $59 bbl amid doubts about China growth following the PBOC's rate cut, along with OPEC doubts about long-term pricing power. The dollar meanwhile is making some upside progress with firmer yields, as the dollar index rises 0.2% to clear 95.0 again. Top gainers in the Dow are Caterpillar +1.8%, AMEX +1.3% and Cisco + 0.8%, while biggest declines are on Exxon -1.8%, Travelers -1.5% and Apple -1.1%.
11:50 EDTTreasury's $48 B 3- and 6-month bill sale was very well subscribed
Treasury's $48 B 3- and 6-month bill sale was very well subscribed amid ongoing heavy demand for bills, both for safety and as banks boost holdings to fulfill capital requirements. The $24 B 3-month bill stopped through at 0.02% versus 0.025% at the bid deadline, and versus 0.015% last week. There were $105.6 B in bids for a 4.43 cover, up from 4.13 previously and better than the 4.09 average. Indirect bidders accepted 35.4%, more than double last week's 16.4% last week and well above the 21.1% average. In fact it's the most since November 10. The $24 B 6-month bill stopped at 0.085%, also below the 0.09% at the bid deadline. Bids totaled $101.3 B for a 4.25 cover, also much better than the 3.94 last week and the 4.09 average. Indirect bidders took a hefty 55.6% versus 33.4% previously and the 37.9% average. That's the second highest since October 7, 2013 (bested only by the 62.8% from April 27).
11:05 EDT4-Week Bill Announcement Offering Amount data reported
4-Week Bill Announcement Offering Amount at $40.0 B
10:50 EDTSF Fed's Williams said he sees steady improvement in the labor market
SF Fed's Williams said he sees steady improvement in the labor market and doesn't want to react to just one month's data, in cnbc interview. Weakness in Q1 GDP is more of an anomaly, and the Fed monitors other indicators, reassuring growth is bouncing back in Q2. Williams reminded that "every meeting is on the table" and repeated that the FOMC is data dependent. He expects the Fed will achieve its 5% employment mandate by the end of the year, but there's more uncertainty about the progress on the inflation mandate. He would prefer not to telegraph the policy decisions in advance, but rather react at every meeting to the recent data and economic conditions. He is not worried about market volatility associated with Fed policy uncertainty, as he believes such market volatility is normal and reflects healthy functioning of the markets since economic conditions can change and affect policy decision making.
10:20 EDTEuro$ interest rate futures turned more defensive
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10:15 EDTFed's Labor Market Index (LMCI) dropped 1.9 points in April
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