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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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September 1, 2015
08:45 EDTFX Action: USD-CAD tumbled to 1.3120
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08:15 EDTCanada GDP Preview
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08:05 EDTEnergy Action: NYMEX crude put in its $49.31
Energy Action: NYMEX crude put in its $49.31 one-month high into the N.Y. close on Monday, before falling back to $47.24 Asian lows. The downdraft came on the heels of China's PMI miss, which resulted in another round of hand wringing over the future of China's growth picture, and demand for oil. The contract subsequently put in a $47.03 low in London, before rallying back to $48.85 highs. Sources expect prices to consolidate through the session today, following massive gains which began Thursday. Monday's gains came as the EIA reported slightly softer U.S. June production, but bigger picture, the globe remains oversupplied by upwards of 3 M bpd, which does not say much for the durability of the recent rally. RBOB gasoline prices meanwhile, remain heavy, trading at $1.447/gallon, after topping near $1.50 on Monday. Softer demand has weighed on prices, as inventories remain at relatively high levels. Natural gas futures are up near $2.70/M BTU, up from yesterday's low under $2.65.
08:00 EDTS&P 100 Options volatility elevated into weak China growth data
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07:40 EDTU.S. Treasury Opening Outlook (Sep 1):
U.S. Treasury Opening Outlook (Sep 1): It would appear that September will start with a bang on Tuesday after a heavy dose of mostly weaker global PMI data, especially in China and the UK caused flight back out of stocks and into bonds again. Asian equities closed sharply lower and this fed back in negatively to Europe and the U.S. Yields are lower across the curve, paced marginally by the belly, with the 2-year probing 0.700% again compared to highs over 0.740% yesterday, while the 10-year sank 4 bp to retest 4.16%. The 5-year is 4 bp lower to test 1.50% and the 2s-10s spread narrowed a bp to 145 bp after widening Monday. Today's calendar reveals the August manufacturing ISM seen easing to 52.5 from 5.7, July construction spending expected to rise 0.5%, and August auto sales forecast to fall 0.9% to 17.3 M. The markets will begin looking ahead to Wednesday's August ADP jobs survey, which will see the start of handicapping for Friday's official jobs report. Incoming data between now and the September meeting will be watched like a hawk, as markets attempt to determine the odds for a rate hike. Boston Fed dove Rosengren will also make an appearance on the economic outlook from 13:10 ET, providing a counterpoint to Fischer.
07:40 EDTN.Y. FX Outlook: China riled up global markets
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07:18 EDTFutures follow Asian markets lower once again
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07:00 EDTFX Update: The dollar declined against the euro and yen
FX Update: The dollar declined against the euro and yen, but firmed against the underperforming commodity currencies as stock markets took a tumble in Asia and Europe amid disappointing manufacturing data out of China, the Eurozone and UK, and elsewhere. The yen gained across-the-board on the back of its haven appeal. USD-JPY dove below 120.00, reaching a nadir of 119.53, since recouping above 120.0 but still remaining over 0.5% lower on the day. EUR-JPY sank into six-week low territory while AUD-JPY, a barometer of China sentiment, was registering a loss of more than 1.5% at its lows. EUR-USD was choppy, rallying some 1.1% to a five-day peak of 1.1332 before dipping back to the mid-1.12s. The decline was sparked by Eurozone manufacturing PMI data, which was revised down to 52.3 in the final August reading from July's 52.4. The risk-off backdrop saw the AUD give up post-RBA statement gains. The RBA left cash rate steady at 2.0%, as expected, while maintaining the nothing-more-than cautious dovish tone in its statement, and keeping last month's shift to a less-bearish view of the Australian dollar. AUD-USD ebbed back to the mid-0.70s after spiking to a peak of 0.7154..
06:35 EDTFX Action: The yen is up across-the-board today
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06:12 EDTVanguard Total Stock Market Index volatility elevated on wide price movement
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04:54 EDTOn The Fly: Morning Wrap-Up for September 1
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03:50 EDTChina's Shanghai Composite equity index closed down 1.3%
China's Shanghai Composite equity index closed down 1.3%. The worse doesn't look to be over for Chinese stock markets: there are no signs of fresh stimulus, Beijing yesterday officially threw in the towel with regard to large stock purchases, and, as PMI data today underscored, the economy is deteriorating. The official manufacturing PMI for August fell into contraction territory, coming in at 49.7, which is the first sub-50.0 outcome since February and the weakest in three years. The private Caixin PMI survey came in at 47.3, revised from the 47.1 flash reading but still a six-year low. This backdrop is weighing on global markets. Japan's Nikkei closed 3.9% for the worse, while the pan-Europe STOXX 600 is showing a 1.8% decline and S&P 500 futures are signalling a near 2% opening loss on Wall Street later.
02:50 EDTFX Update: The dollar has traded mostly softer
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August 31, 2015
22:05 EDTChina's Caixin/Markit manufacturing PMI improved to a final 47.3 in August
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21:40 EDTChina's manufacturing PMI fell to 49.7 in August
China's manufacturing PMI fell to 49.7 in August from 50.0 in July, according to the official government index. The dip into contractionary territory matched expectations, leaving the index at the lowest level in three years and tracking the slowing in China's economy. Forced shutdowns at factories in and around Beijing ahead of World War II commemorative events at the end of this week may have had some impact, but the index is likely largely reflective of slowing underlying growth in China's economy despite the barrage of easing measures this year. The non-manufacturing PMI dipped to 53.4 in August from 53.9 in July.
17:28 EDT 6-Month Bill Auction to be released at 11:30
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17:28 EDT 3-Month Bill Auction to be released at 11:30
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16:12 EDTJPMorgan to hold a conference
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16:11 EDTDeutsche Bank to hold a conference
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16:06 EDTCredit Suisse to hold a conference
6th Annual New Zealand Companies Day is being held in Sydney, Australia on September 1.
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