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Stock Market & Financial Investment News

News Breaks
July 18, 2014
06:20 EDTOn The Fly: Morning Wrap-Up for July 18
Globex S&P futures are recently up 0.20 from previous day’s SPX cash close. Nikkei 225 down 1.01%, DAX down 0.83%. WTI Crude oil is recently at $103.42, natural gas up 0.33%, gold at $1310 an ounce, and copper down 0.68%.
News For NOSYMBOL From The Last 14 Days
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January 26, 2016
08:56 EDTRedbook Store Sales data reported
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08:50 EDTU.S. home price data preview:
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08:45 EDTEnergy Action: NYMEX crude recovered to $30.83
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08:40 EDTU.S. equities reversed into the green
U.S. equities reversed into the green with similar swing on crude oil after Iraq and Russia indicated that they would consider output cuts, which provided some psychic compensation to the markets after a 6.4% dive on the Shanghai Comp rattled nerves overnight. The Dow is 43-points higher, S&P gained 5-points and NASDAQ is up 10-points after reversing out of the red, while Europe is clawing back toward unchanged territory again from deeper losses of about -2%. Japan's Nikkei fell 2.3%, while the HK Hang Seng sank 2.4%. WTI crude oil is back over $30 bbl, but still roughly -1% lower compared to -3.5% lows overnight. Apple results are looming after the close, with focus on risk of slowing iPhone sales in China. Others on tap are 3M, while AIG agreed to shed its broker-dealer network and mortgage insurance units in a strategic reorg. Next up are home prices, services PMI and consumer confidence. The Fed starts its two-day FOMC deliberations as well.
08:35 EDTTreasury Action: positioning shows the most net shorts since early August
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08:00 EDTN.Y. FX Outlook
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08:00 EDTU.S. chain store sales fell 0.4% in the week ended January 23
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07:55 EDTFed funds are opening firmly in the 0.38% area
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07:50 EDTTreasury Market Outlook: Treasuries are little changed
Treasury Market Outlook: Treasuries are little changed, having given up overnight gains that were made on flight to quality trades. The front end is outperforming despite the advent of the FOMC meeting and supply. Declines in Asian equities, with China's Shanghai plunging over 6.4% (despite more PBoC liquidity) gave global bonds a boost, dropping the 10-year Treasury yield to 1.96%. But European bourses and U.S. equity futures have rebounded in tandem with oil's action and the note yield has moved back up over 2%. WTI crude turned around a better than 3% decline on reports that Iraq is willing to cut production if others follow suit. The March contract is at $30.54 bbl from a low of $29.25 bbl. In other news, BoE's Carney said now is not the time for the MPC to be hiking rates, though he defended the FOMC's actions. The FOMC kicks off its 2-day meeting this afternoon (participants who are deterred by the snow can participate via a video conference), and will release its statement tomorrow at 14:00 ET (there will be no press conference). The Fed won't tightening further, and is not likely to offer explicit forward guidance. There's a lot of data with January consumer confidence, the January flash services PMI, and November Case-Shiller and FHFA home price data, along with the January Richmond Fed index, as well as weekly chain store sales. The Treasury auctions $26 B in 2-year notes to initiate $105 B in coupon offerings. On the earnings front, a busy calendar will reveal quarterly reports from Apple, CA Inc., Capital One Financial, 3M, Corning, Chubb, DuPont, Freeport-McMoran, Johnson & Johnson, Lockheed-Martin, Parker-Hannifin, Proctor and Gamble, U.S. Steel, Vmware, and W. W. Grainger.
07:47 EDTBarclays industrials analysts hold an analyst/industry conference call
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07:31 EDTFOMC begins a two day meeting in Washington, D.C. January 26-27
07:20 EDTRussia may lower oil output if price pressures persist.
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07:13 EDTBrookings Institute to hold a discussion
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07:12 EDTCFA Society of Chicago to hold a luncheon meeting
Kyle Bass, principal of Hayman Capital Management, gives a speech entitled, "The Time is Now: The Misallocation of Capital Has Come to Roost" at a Luncheon Meeting being held in Chicago on January 26 at 1 pm. Webcast Link
07:10 EDTBoard of Governors of the Federal Reserve System holds closed meeting
The Board of Governors of the Federal Reserve System discusses monetary policy issues in a Closed Meeting to be held at the Federal Reserve Washington, D.C. offices on January 26 at 10 am.
07:09 EDTFutures higher as Fed begins two day meeting
U.S. stock futures are modestly higher in early trading. Oil prices are also higher and continue to determine the direction of stocks. Investors will begin to see the barrage of earnings report in what will be the heaviest week for earnings this quarter, with 121 companies in the S&P and 11 Dow companies reporting this week. Investors will also be watching economic reports including the Case/Shiller home price report, the consumer confidence reading, and they will begin their Fed watch as the FOMC begins its two day meeting. In early pre-market trading, Dow futures are 55 points above fair value, Nasdaq futures are 12 points above fair value and S&P futures are 7 points above fair value.
07:04 EDTCitigroup to hold a symposium
Digital Money Symposium is being held in London, England on January 26.
05:22 EDTOn The Fly: Morning Wrap-Up for January 26
Globex S&P futures are recently down 5.20 from previous day's SPX cash close. Nikkei 225 down 2.35%, Shanghai Shenzhen CSI 300 Index down 6%, DAX down 0.89%. WTI Crude oil is recently at $29.71, natural gas up 2.32%, gold at $1114 an ounce, copper up 0.70%.
02:30 EDTFX Action: A risk of theme has been seen in forex markets
FX Action: A risk of theme has been seen in forex markets, which has meant commodity currency underperformance and yen outperformance. The biggest mover on our currency grid is AUD-JPY, which is showing a 0.7% loss as London participants enter the fray. NZD-JPY and CAD-JPY are showing 0.5% declines. USD-JPY, meanwhile, has ebbed back under 118.0 for the first time since last Friday. These are retracing the strong rebound gains seen during the latter part of last week amid the ECB-induced, bust short lived, risk-on revival. Oil prices seem once again to be at the fulcrum of broader market anxieties, with NYMEC crude falling another 2.5% after yesterday's 5%-plus tumble, wiping out the rebound seen on Friday. China growth concerns persist despite the PBoC injections of liquidity into the financial system. The Shanghai Composite has plummeted by over 6%. Elsewhere, EUR-USD is firmer, above 1.0850, but retains a overall non-directional momentum.
02:20 EDTThe Shanghai Composite has plummeted
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