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Stock Market & Financial Investment News

News Breaks
February 22, 2013
14:49 EDTAverages near session highs as end of week approaches
Stocks are just off their highs, with the Dow and Nasdaq each up roughly 0.7%. Advancing stocks are ahead of declining stocks by over 2:1 on the NYSE and Nasdaq. Up volume is ahead of down volume by a similar margin on the NYSE and by a nearly 3:1 margin on the Nasdaq. Crude oil prices are higher by 0.3% and gold is down 0.2%. The Dow is up 94 points, the Nasdaq is up 21 points and the S&P is up 9 points.
News For NOSYMBOL From The Last 14 Days
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February 18, 2015
09:35 EDTThe 2.0% January U.S. housing starts drop
The 2.0% January U.S. housing starts drop to a 1.065 M clip tracked estimates, after small downward revisions that left a small disappointment, alongside a 0.7% permits drop to a 1.053 M rate that reflected a new series based on a 2014 "universe" of places that require permits, versus 2004. January housing starts weakness was led by the single family component, which fell 6.7%, and with starts in the Midwest, which plunged 22% due to harsh weather. The weather has had an oscillating effect on data this winter, as a harsh November was followed by a mild December, but then harsh weather again in January and February. These gyrations were documented by the industrial production report's utility figures, given a 2.3% January bounce after a 6.9% December decline but 3.6% November rise. Beyond weather, the single-digit pace of the housing market recovery since 2013 is disappointing, as the sector faces an ongoing headwind from mortgage market dysfunction and investor caution. Analysts now expect growth for starts under construction of 14% in Q1 that matches the 14% (was 15%) rate in Q4, and our Q1 GDP estimate remains at 2.5%.
09:30 EDTTreasury Action: yields remained below highs
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09:30 EDTFX Action: The dollar eased a touch
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09:25 EDTU.S. industrial production rose 0.2% in January
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09:15 EDTFOMC minutes will show how "patient" debate is evolving
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09:06 EDTRedbook Store Sales data reported
Week of 2/14 Redbook Store Sales up 3.2% for the year
09:00 EDTU.S. equities are in shallow negative territory
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09:00 EDTFX Action: USD-CAD found support into the 1.2400 level
FX Action: USD-CAD found support into the 1.2400 level through the London morning session, and rallied to intra day highs of 1.2456 in early North American dealings. The move came as WTI crude touched intra day lows of $52.24, after peaking at $53.36 in London. Soft U.S. PPI data helped the USD in general a bit lower, which offset the better Canadian wholesale data, taking USD-CAD back into 1.2425.
09:00 EDTU.S. Industrial Production Preview
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08:55 EDTThe 0.8% U.S. January PPI drop
The 0.8% U.S. January PPI drop with a 0.1% core price decline undershot estimates thanks to a 0.8% plunge in transportation and warehousing service prices that allowed a 0.2% drop for service prices overall. Analysts saw the expected big 2.1% January goods price drop with declines of 10.3% for energy and 1.1% for food. Analysts expect a 0.1% PPI drop in February with a 0.1% core price rise, though if the early-February bounce in oil and gasoline prices continues analysts may need to raise these estimates into month-end. On the old SOP basis, analysts saw a 2.1% headline PPI plunge that followed decreases of 1.1% in December and 0.8% in November, alongside a 0.2% core price rise. Last Friday's trade price report revealed a huge 2.0% January export price plunge that accompanied an oil-led 2.8% import price decline, alongside core price declines of 0.4% for exports and 0.6% for imports. Analysts still expect 0.5% headline declines for both CPI and PCE chain prices, with a 0.1% core price gain for CPI and a flat PCE core figure.
08:45 EDTFX Action: The dollar moved a touch lower
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08:45 EDTU.S. PPI fell 0.8% in January, while the core rate dipped 0.1%
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08:45 EDTTreasury Action: yields extended their pull-back
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08:40 EDTU.S. housing starts slid 2.0% to 1.065 M in January
U.S. housing starts slid 2.0% to 1.065 M in January, a little better than expected, following December's 7.1% jump to a 1.087 M clip (revised from 1.089 M), with November bumped down to 1.015 M from 1.043 M previously. Building permits fell 0.7% to a 1.053 M rate from a revised 1.058 M previously (was 1.032 M). Single family starts dropped 6.7% and multifamily starts rose 7.5% last month.
08:35 EDTFutures remain quiet following housing and prices data
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08:30 EDTFed governor Powell will deliver a lecture
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08:20 EDTU.S. Housing Starts Preview
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08:20 EDTCanada Wholesale Shipments Preview
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08:15 EDTU.S. PPI Preview
U.S. PPI Preview: January PPI data is seen down -0.5% (median -0.4%) for the month following a -0.3% decline in December. The core index should be up 0.1% following a 0.3% increase in December. Price data has been depressed lately as collapsing oil prices have weighed on headlines, WTI oil prices plunged -19.4% in January. For the whole story, see our PPI preview.
08:10 EDTEnergy Action: NYMEX crude rallied to better than two-week highs
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