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Stock Market & Financial Investment News

News Breaks
February 4, 2013
06:20 EDTOn The Fly: Morning Wrap-Up for February 4
Globex S&P futures are recently down 2.40 from previous day's SPX cash close. Nikkei 225 up 0.62%, DAX down 0.49%. WTI Crude oil is recently at $96.89, copper down 0.32% and gold is at $1665 an ounce.
News For NOSYMBOL From The Last 14 Days
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June 19, 2013
15:05 EDTBernanke on rising rates: he reiterated that the jobless rate figure is a threshold
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15:03 EDTJune ISM Non-Mfg Index to be released at 10:00
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15:02 EDTAverages extend losses as Bernanke press conference continues
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15:00 EDTBernanke Q&A: Chairman Bernanke reiterated there's been no policy change
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14:57 EDTBernanke says just holding securities will put downward pressure on rates
Holding assets will put downward pressure on interest rates even after the Fed has stopped purchasing assets, Bernanke said.
14:54 EDTBernanke refuses to answer question about whether he will stay in job in 2014
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14:48 EDTBernanke says increased optimism about housing compensates for higher interest
14:46 EDTBernanke says asset purchases tied to economy, not calendar
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14:42 EDTBernanke says committee on track to reduce asset purchases later this year
If economic data comes in as expected, the Fed anticipates that it will be appropriate to moderate its asset purchases later this year, Bernanke said. The process would continue into 2014, and asset purchases would likely cease when the unemployment rate is about 7%, Bernanke said.
14:38 EDTBernanke: Subdued inflation will make committee more patient with raising rates
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14:35 EDTBernanke: Majority of committee does not support selling mortgage securities
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14:32 EDTBernanke says federal fiscal policies have created strong headwinds for economy
Fed Chairman Bernanke made the statement at his press conference today.
14:28 EDTFed changes 2014 inflation outlook to 1.4%-2% from 1.5%-2%
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14:27 EDTFed lowers 2014 unemployment outlook to 6.5%-6.8% from 6.7%-7%
14:26 EDTFed raises 2014 GDP growth outlook to 3%-3.5% from 2.9%-3.4%
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14:25 EDTFed keeps asset purchases unchanged, does not mention tapering
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14:25 EDTFed lowers 2013 inflation outlook to 0.8%-1.2% from 1.3%-1.7%
14:24 EDTFed lowers 2013 unemployment outlook to 7.2%-7.3% from 7.3%-7.5%
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14:23 EDTFed chnages 2013 GDP outlook to 2.3%-2.6% from 2.3%-2.8%
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14:20 EDTFOMC takeaway: the diminishing downside risks noted in the statement suggests a reduction in QE purchases
FOMC takeaway: the diminishing downside risks noted in the statement suggests a reduction in QE purchases is a real potential over the second half of the year. That has weighed on stocks and bonds, and given the dollar a boost, as one would have expected. Major wildcards to a pullback in QE as soon as the September FOMC meeting (analysts still believe it will be at a meeting with a press conference) including potentially negative effects, especially on jobs, from sequestration, as well as from further weakness in prices. There are also some concerns over the effects of rising rates on the economy. Net-net, Fed policy will continue to be a work in progress and dependent on the data.
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