Books
|
|  |
Millennium-Traders Market Alerts
|
|
 Oil futures slide to lowest since November
May 16, 2012
Crude-oil futures fell on Wednesday, hovering at their lowest since November as investors reacted to news that Greece will head back to the polls, adding to the uncertainty surrounding the future of the euro zone
YMMay 16, 2012
Could be heading lower here.
Economical DataMay 16, 2012
April capacity utilization 79.2% vs 78.4% March.
April output at factories alone up 0.6%.
March output revised down 0.6% vs flat prev. est.
April industrial output strongest since Dec. 2010.
April industrial output above consensus 0.7% gain.
U.S. April industrial output up 1.1%.
Coming up: Industrial output for AprilMay 16, 2012
Federal Reserve is due to release its estimate for April industrial output at 9:15am ET.
Economical DataMay 16, 2012
U.S. housing starts rise to 715,000 rate in April.
March starts revised up to 699,000 from 654,000.
Revised March permits at highest level since fall.
Housing permits fall to 717,000 in April from 769.
Coming up: U.S. housing starts for AprilMay 16, 2012
The government will issue the latest data on U.S. housing starts at 8:30am ET.
GM to stop advertising on FacebookMay 15, 2012
General Motors Co. (NYSE:GM) plans to stop advertising on Facebook Inc. (NASDAQ:FB) after it was determined that ads on the social networking site had little impact on consumers.
YMMay 15, 2012
Lower lows.
Economical DataMay 15, 2012
May NAHB builder sentiment up 5 points to 29.
April sentiment revised to 24 vs. 25.
Forecast: May sentiment 27.
GBPUSDMay 15, 2012
Making lower lows.
Coming up: 'TIC' data for MarchMay 15, 2012
Treasury Department's international capital data for March, or the 'TIC' report, is due for release at 9am ET.
Economical DataMay 15, 2012
May Empire State index 17.1 vs. 6.6 in April.
U.S. retail sales inch up 0.1% in April.
May Empire State reading above forecast of 9.5.
Forecasts: 0% CPI, 0.2% core prices.
April core prices rose 0.2%.
First time CPI flat since December.
April consumer prices were flat.
Gasoline keeps consumer prices flat in April.
YM AND ESMay 14, 2012
Literately tanking...
Economical DataMay 11, 2012
Report: May UMich sentiment 77.8.
Coming up: UMich consumer sentiment for MayMay 11, 2012
Preliminary reading of the University of Michigan-Thomson Reuters consumer sentiment index for May is due at 9:55am ET.
Economical DataMay 11, 2012
April producer prices fall 0.2%.
April PPI drop largest since October.
Forecasts: PPI -0.1%, core PPI up 0.2%.
April core producer prices up 0.2%.
April yr-on-yr rise of 1.9% weakest since Oct. '09.
Coming up: Producer prices for AprilMay 11, 2012
Producer prices are slated to be released by the Labor Department at 8:30am ET.
ECONX DATAMay 10, 2012
U.S. import prices 0.5% higher vs. year ago.
U.S. import prices minus fuel up 0.1% in April.
U.S. import prices sink 0.5% in April.
Continuing claims decline 61,000 to 3.23 million.
Four-week claims average falls 5,250 to 379,000.
U.S. jobless claims dip 1,000 to 367,000.
U.S. March trade gap with China $21.7 billion.
March trade gap above consensus of $50 bln.
U.S. March trade gap widens 14.1% to $51.8 bln.
Coming up: Jobless claims, U.S. import pricesMay 10, 2012
U.S. Labor Department will issue weekly jobless claims and monthly U.S. import prices at 8:30am ET.
ECONX DATAMay 9, 2012
U.S. wholesale inventories rise 0.3% in March.
U.S. wholesale sales climb 0.5% in March.
GBPUSDMay 9, 2012
Tumbling lower
GBPUSDMay 7, 2012
Keeps pushing through resistance and striking new, higher highs.
ECONX DATAMay 4, 2012
U.S. economy creates 115,000 jobs in April.
Feb. job gain revised up to 259,000 vs. 240,000.
March job gain revised up to 154,000 vs. 120,000.
Private sector in U.S. gains 130,000 jobs.
U.S. unemployment rate dips to 8.1%.
Coming up: U.S. jobs report for AprilMay 4, 2012
The government will issue the monthly report on U.S. employment at 8:30am ET. The unemployment rate is expected to remain unchanged at 8.2%.
ECONX DATAMay 3, 2012
Challenger: Layoff plans rise in April.
April ISM services index 53.5% vs. March's 56.0%.
ISM services production index down 4.3 points.
ISM services new orders index down 5.3 points.
ECONX DATAMay 3, 2012
U.S. productivity falls 0.5% in first quarter.
Output up 2.7%, hours worked 3.2%, in quarter.
Unit-labor costs climb 2% in first quarter.
Continuing claims drop 53,000 to 3.28 million.
Four-week claims average rises 750 to 383,500.
U.S. jobless claims decline 27,000 to 365,000.
ECONX DATAMay 2, 2012
April private-sector jobs rise 119K: ADP.
Fed's Tarullo urges money-fund reformMay 2, 2012
Federal Reserve Governor Daniel Tarullo on Wednesday urged the Securities and Exchange Commission to move forward with efforts to reform the $2.5 trillion money market fund industry, arguing that new regulations are necessary to limit systemic risk.
Obama to deliver TV address from AfghanistanMay 1, 2012
President Barack Obama will make a televised address Wednesday night from Afghanistan, according to a pool report from the White House press corp. Obama will speak at 7:30am ET from Bagram airbase.
YMMay 1, 2012
Keeps making higher highs
ECONX DATAMay 1, 2012
Feb. building outlays down revised 1.4% vs. 1.1%.
March construction gain below forecast of up 0.5%.
U.S. March construction spending up 0.1%.
ECONX DATAApril 30, 2012
Chicago PMI: Lowest level in 29 months.
Chicago PMI production drops 11.5.
ECONX DATAApril 30, 2012
April Chicago PMI 56.2.
ECONX DATAApril 30, 2012
U.S. consumer spending increases 0.3% in March.
Personal income climbs 0.4% in March.
PCE price index up 0.2%; core PCE rises 0.2%.
U.S. savings rate edges up to 3.8% from 3.7%.
Coming up: Personal income, spending in MarchApril 30, 2012
The government will release the March report on consumer spending and personal income at 8:30am ET.
ECONX DATAApril 27, 2012
UMich sentiment rises to 76.4 in April.
Coming up: April consumer sentimentApril 27, 2012
Data on consumer sentiment for April are due for release at 9:55am ET.
ECONX DATAApril 27, 2012
Q1 PCE core price index up 2.0% vs.1.4% in Q4.
Q1 PCE price index up 2.4% vs. 1.2% in Q4.
Q1 consumer spending up 2.9% vs. 2.1% in Q4.
Q1 consumer spending up 2.9% vs. 2.1% in Q4.
U.S. Q1 GDP up 2.2% annualized vs. 2.7% expected.
YMApril 26, 2012
YM making higher highs
ECONX DATAApril 26, 2012
Pending home sales up 4.1% in March to 23-mo. high.
ECONX DATAApril 26, 2012
Continuing claims edge up 3,000 to 3.32 million.
Monthly claims average at highest level of 2012.
Four-week claims average rises 6,250 to 381,750.
U.S. jobless claims little changed at 388,000.
U.S. jobless claims drop 1,000 to 388,000.
Coming up: Weekly jobless claimsApril 26, 2012
U.S. Labor Department will release weekly jobless claims at 8:30am ET.
ECONX DATAApril 25, 2012
NO CHANGE IN INTEREST RATES.
Fed holds rates before forecast, Bernanke presser.
One dissent from Fed policy vote.
Fed sees moderate growth, then gradual pick up.
Fed repeats market strains are big downside risk.
Fed: Oil prices will affect inflation temporarily.
Fed keeps plan to hold rates low until 2014.
Fed holds policy steady as expected.
ECONX DATAApril 25, 2012
Durable orders minus transportation drop 1.1%.
U.S. durable goods orders fall 4.2% in March.
Core capital orders dip 0.8% last month.
Shipments of core capital goods rise 2.6% in March.
Transport orders sink 12.5% last month.
Coming up: Durable-goods orders for MarchApril 25, 2012
The U.S. government will issue the durable-goods report for March at 8:30am ET.
ECONX DATAApril 24, 2012
April consumer-confidence gauge declines to 69.2.
New homes sold at 328,000 annual rate in March.
New home sales in February revised up to 353,000.
February sales rate originally reported as 313,000.
Median sales price dips 1% to $234,500 last month.
Coming up: New home sales for MarchApril 24, 2012
Figures for new home sales in March will be released at 10.00am ET by the Commerce Department.
GBPUSDApril 20, 2012
GBPUSD in breakout mode.
GBPUSDApril 20, 2012
GBPUSD on the move higher.
YMApril 19, 2012
On a tear to the upside.
ECONX DATAApril 19, 2012
Existing home prices up 2.5% year-on-year.
Inventories down 1.3% to 2.37 million units.
March existing home sales below 4.63 mln consensus.
Existing home sales fall 2.6% in March to 4.48 mln.
Leading economic indicators rise 0.3% in March.
Philly Fed index falls to 8.5 in April.
Philly Fed index was at 12.5 in March.
Philly Fed orders gauge drops to 2.7.
Coming up: LEI, home sales, Philly FedApril 19, 2012
A report on leading economic indicators for March is due for release at 10am ET from the Conference Board, a private research group.
NQApril 19, 2012
Strong downside draft going on since jobs data released.
ECONX DATAApril 19, 2012
Continuing claims climb 26,000 to 3.3 million.
Four-week claims average rises 5,500 to 374,750.
Weekly U.S. jobless claims total 386,000.
NQApril 18, 2012
on the move higher toward currently daily high
USDCHFApril 17, 2012
USDCHF more to the downside.
YMApril 17, 2012
YM going through the roof!
ECONX DATAApril 17, 2012
March industrial production flat for second month.
ECONX DATAApril 17, 2012
Housing starts in U.S. 10.3% higher from year ago.
February starts revised down slightly to 694,000.
Permits at highest level since September 2008.
Permits to build new homes rise 4.5% to 747,000.
U.S. housing starts drop 5.8% to 654,000 in March.
Coming up: U.S. housing starts in MarchApril 17, 2012
U.S. government will release its monthly report on new-home construction at 8:30am ET.
April NAHBApril 16, 2012
April NAHB traffic -4 to 18
April NAHB sales expectations -3 to 32
April NAHB sales conditions -3 to 26
April NAHB home builder index down 3 points to 25
U.S. business inventoriesApril 16, 2012
U.S. business inventories rise 0.6% in February
ECONX DATAApril 16, 2012
Foreign demand for U.S. assets down in February.
ECONX DATAApril 16, 2012
Retail sales excluding autos rise 0.8% last month.
Retail sales 6.5% higher compared to year ago.
February retail sales revised to 1.0% increase.
Retail sales in U.S. climb 0.8% in March.
April Empire State index 6.6.
Coming up: U.S. retail sales, Empire StateApril 16, 2012
Reports on U.S. retail sales and manufacturing activity in the New York region will be released Monday at 8:30am ET.
ECONX DATAApril 13, 2012
UMich sentiment falls to 75.7 in April.
Coming Up: April consumer sentimentApril 13, 2012
Data on consumer sentiment for April are due for release at 9:55am ET.
ECONX DATAApril 13, 2012
Consumer prices climb 2.7% in past 12 months.
Inflation-adjusted hourly wages fall 0.1% in March.
Energy prices rise 0.9%, food costs increase 0.2%.
Core CPI, minus food and energy, up 0.2%.
U.S. consumer prices rise 0.3% in March.
USDCHFApril 13, 2012
In breakout mode.
Coming up: U.S. consumer prices for MarchApril 13, 2012
The month U.S. report on consumer prices will be issued at 8:30am ET.
YMApril 12, 2012
Heading for reversal to lower territory.
YMApril 12, 2012
Heading for reversal to lower territory.
NQApril 12, 2012
Surging!
ECONX DATAApril 12, 2012
Continuing claims drop 98,000 to 3.25 million.
Wholesale energy prices fall 1.0% in March.
Core PPI, minus food and energy, up 0.3% in March.
U.S. producer prices unchanged in March.
Wholesale energy prices fall 1.0% in March.
Coming up: February trade gapApril 12, 2012
Data on the U.S. trade gap in February are due for release at 8:30am ET from the U.S. Commerce Department.
ECONX DATAApril 11, 2012
U.S. import prices climb 1.3% in March.
March fuel prices rise 0.3% excluding oil.
ECONX DATAApril 10, 2012
U.S. wholesale inventories rise 0.9% in February.
Fed to change timing of stress testsApril 10, 2012
Federal Reserve will shift the timing and publication of stress tests next year and will give banks more feedback on the models the central bank employed, Fed Governor Daniel Tarullo said Tuesday. "We do not want to encourage a world in which everyone simply applies the same risk-management model, rather than engages in the important and multidimensional process of evaluating and modeling risk. But there should be ways to provide some further explanation of our modeling approach without leading to this outcome, particularly in the aftermath -- rather than in the middle -- of the supervisory exercise itself," he said. N
GBPUSD April 10, 2012
Possibly set for a breakout
YM, ES, NQApril 4, 2012
The tank continues...
ECONX DATAApril 4, 2012
ISM service-sector index falls to 56.0% in March.
ECONX DATAApril 4, 2012
March private-sector jobs rise 209K: ADP.
ISM services index for MarchApril 4, 2012
Institute for Supply Management's services-sector index for March is due at 10:00am ET
Market sentimentApril 3, 2012
Market sentiment showing strong downward drift after release of FOMC minutes. EURUSD and GBPUSD at new lows.
ECONX DATAApril 3, 2012
Fed sees no inflation threat from oil: minutes.
Doubt persists on consumer spending: minutes.
Fed mulled more ways to talk to markets: minutes.
Economy only a bit stronger in March: minutes.
Some Fed said job gains could diminish: minutes.
Better data not changed 2013-14 outlook: minutes.
Fed March 13 minutes show less interest in QE3.
Fed less interested in bond buys: minutes.
ECONX DATAApril 3, 2012
January orders revised down to 1.1% drop.
U.S. factory orders rise 1.3% in February.
EURUSDApril 3, 2012
Working it higher off lows
ECONX DATAApril 2, 2012
Construction spending falls 1.1% in February.
ISMApril 2, 2012
ISM index was forecast to rise to 53.5%.
ISM index rises to 53.4% in March from 52.4%.
YMApril 2, 2012
Sinking lower and lower
EURUSDApril 2, 2012
Making lower lows
USDCHFApril 2, 2012
Making higher highs
NQMarch 30, 2012
Making lower lows on the session.
MasterCard, Visa warn of security breachMarch 30, 2012
Visa and MasterCard are warning banks around the country of a "massive" security breach at one of their U.S.-based credit-card processors. Visa and MasterCard began sending out alerts to banks late last week advising them that certain cards may have been compromised. The breach is believed to have occurred between Jan. 21 and Feb. 25, and could involve as many as 10 million credit card numbers.
ECONX DATAMarch 30, 2012
UMich sentiment rises to 76.2 in March.
ECONX DATAMarch 30, 2012
March Chicago PMI 62.2%.
GBPUSDMarch 30, 2012
Drifting lower nicely
British poundMarch 30, 2012
British pound hits highest since November
ECONX DATAMarch 30, 2012
U.S. savings rate falls to 3.7% from 4.3%.
Price index for consumer purchases climbs 0.3%.
U.S. personal spending jumps 0.8% in February.
U.S. personal income rises 0.2% last month.
February spending boosted by higher energy costs.
Core PCE index edges up 0.1% in February.
Personal income, spending in FebruaryMarch 30, 2012
The government's monthly report on income growth and personal spending is due at 8:30am ET.
ECONX DATAMarch 29, 2012
U.S. jobless claims total 359,000 in latest week.
Q4 GDP growth unrevised at 3.0% rate.
Continuing claims decline 41,000 to 3.34 million.
Four-week claims average drops 3,500 to 365,000.
Jobless claims still at lowest level in four years.
U.S. jobless claims fall by 5,000 to 359,000.
Q4 before-tax corporate profits down 0.4%.
Q4 core PCE up 1.3%, unrevised vs. prev. estimate.
Q4 GDP below forecast of 3.2% rise.
GBPUSD AND EURUSDMarch 29, 2012
Tumbling lower
Weekly U.S. jobless claims, GDPMarch 29, 2012
U.S. government will release reports on weekly jobless claims and revised fourth-quarter gross domestic product at 8:30am ET
ESMarch 28, 2012
no bottom in sight
ESMarch 28, 2012
ES sell off intensifies.
YMMarch 28, 2012
Pushing for heavy lower lows!
This was last month (Old News)March 28, 2012
Shares of diabetes drug maker Amylin Pharmaceuticals Inc. AMLN +38.79% rocketed 48% to $22.81 after Bloomberg News reported that the firm dismissed a $3.5 billion, or $22 a share, bid from Bristol-Myers Squibb BMY +0.21% . The report, citing two people with knowledge of the matter, said the bid was made last month. Bristol-Myers hasn't approached Amylin since the rejection, the report added.
YMMarch 28, 2012
Tanking!
USDCADMarch 28, 2012
moving to the downside again
Magic JohnsonMarch 28, 2012
Magic Johnson group buys Dodgers for $2bln
USDCHFMarch 28, 2012
nice move to the upside, new high
ECONX DATAMarch 28, 2012
Shipments of core capital goods climb 1.4%.
January durable-orders drop revised down to 3.6%.
February core capital-goods orders increase 1.2%.
Orders minus transportation rise 1.6% last month.
U.S. orders for durable goods up 2.2% in February.
U.S. durable-goods orders for FebruaryMarch 28, 2012
U.S. government will issue its monthly report on orders for durable goods at 8:30am ET.
ECONX DATAMarch 27, 2012
March consumer-confidence gauge declines to 70.2.
ECONX DATAMarch 27, 2012
January Case-Shiller home price index falls 0.8%.
Case-Shiller index down 3.8% in past 12 months.
Case-Shiller at lowest level of housing cycle.
ECONX DATAMarch 26, 2012
Pending sales index up 9.2 points vs. year ago.
Pending-home sales index was 97.0 in January.
February pending home-sales index dips to 96.5.
GBPUSDMarch 23, 2012
Pushing toward resistance at 15882
ECONX DATAMarch 23, 2012
Feb. new-home sales dip 1.6% while prices jump.
Jan. new-home sales revised to 318,000 vs 321,000.
Feb. sales of new homes fall 1.6% to 313,000.
Feb. median price of new homes up 8.3% to $233,700.
New home sales for FebruaryMarch 23, 2012
Commerce Department is due to release data on new-home sales at 10:00am ET.
KB HomeMarch 23, 2012
KB Home (KBH - NYSE) shares were facing a sell off beginning in early trading, down 16% after the home builder reported new orders fell in Q1. Company posted a lower Q1 loss which was helped by higher selling prices, but the fifth-largest U.S. home-builder said orders for new homes declined. Q1 net loss was $45.8 million, or 59 cents a share, down from $114.5 million, or $1.49 a share, a year ago. Revenue rose 29 percent to $254.6 million.
Senate panel to hold sports bounties hearingsMarch 22, 2012
Senate Judiciary Committee will hold hearings to look into the issue of bounties in sports, Sen. Dick Durbin, an Illinois Democrat.
The hearings will look at whether federal sports bribery laws should be expanded to include sports bounty programs. Bounties are sums paid to players for injuring opponents. "When an injury is by design and is paid for, we've moved beyond any definition of sport," said Durbin, assistant Senate majority leader, in a statement. No date has been set for the hearings.
Senate sends insider-trading-ban bill to ObamaMarch 22, 2012
The Senate on Thursday approved legislation to curtail insider trading of securities by lawmakers and officials in the executive branch, sending the legislation to President Barack Obama to be signed into law.
The legislation, known as the STOCK Act, was approved by a vote of 96 to 3 in the Senate and is expected to be approved by Obama shortly. It prohibits lawmakers and their families and staff from buying and selling securities based on their possession of nonpublic information.
The bill requires lawmakers and a broad group of executive-branch and agency officials to report stock and commodities transactions to searchable online databases. That reporting must be done no later than 45 days after the transaction takes place.
The legislation would prohibit a lawmaker convicted of a felony from receiving government pension funds.
The “Pelosi Provision,” restricts lawmakers from using their status to gain special access to initial public offerings of stock. The public has no equal right to participate in IPO shares, which are typically sold to the favored customers of underwriting banks. As a practical matter, institutional investors and high-net-worth individuals usually get access to IPO shares before most retail investors.
ECONX DATAMarch 22, 2012
Dec. house prices revised to 0.1% vs 0.7%.
Jan. house prices down 0.8% yr-on-yr: FHFA.
ECONX DATAMarch 22, 2012
Leading economic indicators rise 0.7% in February.
U.S. house prices unchanged in January: FHFA.
February leading indicatorsMarch 22, 2012
A report on leading economic indicators for February is due for release at 10am ET from the Conference Board
ECONX DATAMarch 22, 2012
Continuing claims decline 9,000 to 3.35 million.
Four-week claims average drops 1,250 to 355,000.
Weekly U.S. jobless claims fall 5,000 to 348,000.
Weekly jobless claimsMarch 22, 2012
U.S. Labor Department is set to release weekly jobless claims at 8:30am ET
Forex MarketMarch 21, 2012
Currency market on the move.
ECONX DATAMarch 21, 2012
Jan. existing home sales revised up to 4.63 mln.
Feb. median price up 0.3% yr-on-yr to $156,600.
February existing home sales down 0.9% to 4.59 mln.
Osborne cuts U.K. corporate tax, top personal rateMarch 21, 2012
British Treasury chief George Osborne on Wednesday confirmed the government will accelerate a cut in the corporate tax rate in April, while dropping the top, marginal personal tax rate of 50% to 45% in April 2013. Presenting his 2012-13 budget to the House of Commons, Osborne said the corporate rate will fall to 24% from 26% in April, compared to an earlier plan to cut it to 25%. The rate will fall to 22% by 2014.
Existing home sales for FebruaryMarch 21, 2012
National Association of Realtors is due to publish existing-home sales data at 10:00am ET.
Bernanke March 21, 2012
Federal Reserve Chairman Ben Bernanke will testify today before a House committee about the European sovereign-debt crisis. His speech runs though the developments in Europe, their effects on the U.S. economy and action the Fed has already taken.
YM, ES, NQMarch 20, 2012
Facing another wave to the downside.
ECONX DATAMarch 20, 2012
February U.S. housing starts fall 1.1% to 698,000.
Housing starts in January revised up to 706,000.
U.S. housing permits climb 5.1% to 717,000.
Permits at highest level since October 2008.
U.S. housing starts for FebruaryMarch 20, 2012
U.S. government will issue its monthly report on new-home construction at 8:30am ET.
Fed to fine eight banks for foreclosuresMarch 19, 2012
Federal Reserve plans to announce monetary penalties against eight banks that were examined as part of a federal and state foreclosure practices investigation. "Although the Federal Reserve has not issued monetary sanctions at this time against the other eight institutions that it supervises and that are also subject to enforcement actions for unsafe and unsound practices in their loan servicing and foreclosure processing, the Federal Reserve believes that monetary sanctions in those cases are appropriate and plans to announce monetary penalties against them," said Federal Reserve director Suzanne Killian in a House Oversight Committee field hearing.
The eight institutions are HSBC Holdings PLC , Goldman Sachs & Co., OneWest Bank, EverBank, PNC Financial Services Group Inc., Bancorp, MetLife Inc. and SunTrust Banks Inc.
Fed's DudleyMarch 19, 2012
Economy still faces significant headwind; Expects core inflation to begin to decline; Annual rate of core inflation has peaked; Recovery may be on firmer footing; Too soon to say economy out of woods
GBPUSD March 19, 2012
Trying to make new high on session
ECONX DATAMarch 16, 2012
UMich sentiment falls to 74.3 in March.
March consumer sentimentMarch 16, 2012
Data on consumer sentiment for March scheduled for release at 9:55am ET.
ECONX DATAMarch 16, 2012
Feb. capacity utilization 78.7% vs 78.8% in Jan.
Feb. output at factories alone up 0.3%.
Jan. output up revised 0.4% vs flat prev estimate.
Feb. industrial output below consensus 0.4% gain.
U.S. industrial output flat in February.
ECONX DATAMarch 16, 2012
U.S. consumer prices climb 0.4% in February.
Energy prices for consumers rise 3.2%.
Consumer price index up 2.9% in past 12 months.
Industrial output for FebruaryMarch 16, 2012
Federal Reserve is due to release its estimate for February industrial output at 9:15am et
Consumer price index for FebruaryMarch 16, 2012
U.S. Labor Department will release its monthly report on consumer prices at 8:30am ET.
Treasury International Capital (TIC) Net Long-Term Transactions data for JanuaryMarch 15, 2012
The Treasury Department's international capital data for January, or the 'TIC' report, is due for release at 9am ET
ECONX DATAMarch 15, 2012
March Empire State reading above forecast of 17.7.
March Empire State index 20.2 vs.19.5 February.
Wholesale energy costs rise 1.3%; gasoline up 4.3%.
Core PPI climbs 0.2% in February.
U.S. wholesale prices increase 0.4% in February.
Continuing claims drop 81,000 to 3.34 million.
Four-week claims average unchanged at 355,750.
U.S. weekly jobless claims fall 14,000 to 351,000.
Jobless claims, PPI, Empire StateMarch 15, 2012
Investors will get a look at reports on weekly jobless claims, U.S. wholesale prices and manufacturing strength in the New York region at 8:30am ET.
ECONX DATAMarch 14, 2012
U.S. Q4 current account deficit $124.1 bln.
Q4 current account deficit 3.2% of GDP.
U.S. import prices climb 0.4% in February.
U.S. import prices, current accountMarch 14, 2012
The federal government is set to release reports on import prices and the U.S. current-account deficit at 8:30am ET.
ECONX DATAMarch 13, 2012
NO CHANGE FOR INTEREST RATES.
Fed holds rates, says inflation rise is temporary.
Fed: Jobless rate has fallen but still elevated.
Fed says housing sector still depressed.
Fed: Gas price to push up inflation temporarily.
Fed says economy expanding moderately.
Fed still sees 'significant downside risks'.
Fed to keep reinvesting housing debt into MBS.
Fed maintains Operation Twist program.
Fed keeps short-term rate target at zero to 0.25%.
Fed sees low rates through at least late 2014.
Fed expects to keep accommodative monetary policy.
ECONX DATAMarch 13, 2012
January business inventories up 0.7%.
Fed fights subpoenaMarch 13, 2012
Federal Reserve is fighting a subpoena for Fed chairman Ben Bernanke to testify in a civil lawsuit challenging Bank of America's takeover of Merrill Lynch & Co in 2008, according to a report in the Wall Street Journal. The lawsuit alleges that Bank of America and its former chief executive Kenneth Lewis deceived shareholders about a looming multi-billion loss at Merrill so that Bank of America shareholders would approve the takeover. The government provided a $20 billion bailout to Bank of America after the deal was completed and the loss announced. Shareholder lawyers want to ask Bernanke about conversations he held with Lewis prior to the closing of the transaction in January 2009.
ECONX DATAMarch 13, 2012
Feb. retail sales climb 1.1% to hit 5-month high.
Feb. retail sales ex-autos up 0.9%.
Feb. retail sales ex-autos and gas up 0.6%.
Jan. retail sales upwardly revised to 0.6%.
Feb. retail sales up 6.5% year-on-year.
Feb. retail sales climb 1.1% to $407.8 billion.
EURUSDMarch 13, 2012
Sinking to new, lower lows
USDCHFMarch 13, 2012
Looks to be in breakout mode.
February retail salesMarch 13, 2012
The Commerce Department is due to release retail sales data for February at 8:30am ET.
ECONX DATAMarch 9, 2012
U.S. wholesale inventories up 0.4% in January
ECONX DATAMarch 9, 2012
Average hourly earnings rise 0.1% to $23.31.
Dec. trade gap rev $50.4 bln vs $48.8 prev est.
U.S. adds 227,000 jobs in February.
U.S. unemployment rate unchanged at 8.3%.
Private sector in U.S. gains 233,000 jobs.
January job gain revised up to 284,000 vs. 243,000.
December job gain revised up to 223,000 vs 203,000.
U.S. monthly jobs report, trade deficitMarch 9, 2012
The government will issue reports on U.S. job growth in February and the January trade deficit at 8:30am ET.
Solar Storm WarningMarch 8, 2012
A major solar storm is expected to bombard the Earth's magnetic field with charged particles until Friday morning, an event that could result in the disruption of electrical power grids, satellite navigation, and aircraft communication, according to the BBC on Thursday. The storm, the largest to hit the Earth in five years, is a byproduct of the Sun's regular 11-year activity cycle. Experts quoted by the BBC said that Earth can expect to see similar, and possibly more severe, storms coming its way until the Sun's cycle peaks in 2013.
ECONX DATAMarch 8, 2012
Weekly U.S. jobless claims rise 8,000 to 362,000.
Four-week claims average edges up 250 to 355,000.
Continuing claims climb 10,000 to 3.42 million.
ECONX DATAMarch 7, 2012
U.S. 4th-quarter productivity revised up to 0.9%.
Unit-labor costs revised up to 2.8% in 4th quarter.
Rise in productivity previously reported at 0.7%.
Real hourly wages revised sharply higher to 2.8%.
Increase in output revised up to 3.7% from 3.6%.
Rise in hours worked revised down to 2.7% vs. 2.9%.
ECONX DATAMarch 7, 2012
February private-sector jobs rise 216K: ADP.
ADP Feb. private-sector jobs reportMarch 7, 2012
Automatic Data Processing Inc. scheduled to release data on private-sector payrolls for February at 8:15am ET.
Revised Q4 productivityMarch 7, 2012
U.S. government will release its revised Q4 productivity report at 8:30am ET.
Obama March 5, 2012
President Barack Obama will hold a news conference Tuesday afternoon, the White House said Monday.
YMMarch 5, 2012
Continues to sink
ECONX DATAMarch 5, 2012
February ISM services index rises to 57.3%.
Jan. factory orders down 1% to $462.6 bln.
Coming up: ISM services index for FebruaryMarch 5, 2012
Institute for Supply Management's services-sector index for February is due at 10am ET
Fed pushes back comment period on capital rulesMarch 2, 2012
The Federal Reserve extended by a month the period to comment on the prudential standards and early remediation requirements of the Dodd-Frank bank reform law. Commenters now have until April 30 to submit views on issues including capital, liquidity, single counterparty credit limits, stress testing, risk management, and early remediation requirements.
USDCHF March 2, 2012
Riding the northbound train with USDCAD.
USDCADMarch 2, 2012
Making moves to the upside.
ESMarch 1, 2012
Tanking
YMMarch 1, 2012
Tanking
NQMarch 1, 2012
Higher highs on the day
No EquityMarch 1, 2012
At the end of Q4 more than 11 million U.S. residential properties were underwater with borrowers owing more on their mortgages than their homes were worth, up from 10.7 million properties in Q3.
GBPUSDMarch 1, 2012
On the move higher
ECONX DATAMarch 1, 2012
Construction spending was forecast to rise 0.7%.
First monthly drop since July.
Construction spending slips 0.1% in January.
ISM manufacturing index falls to 52.4% in February.
February ISM manufacturing indexMarch 1, 2012
Institute for Supply Management releases its U.S. manufacturing index at 10am ET.
ECONX DATAMarch 1, 2012
U.S. jobless claims dip 2,000 to 351,000.
Four-week claims average falls 5,500 to 354,000.
Continuing claims decline 2,000 to 3.40 million.
January personal income up 0.3%.
January consumer spending up 0.2%.
January real disposable income down 0.1%.
January core PCE inflation up 0.2%.
Jobless claims, U.S. personal incomeMarch 1, 2012
U.S. government will release reports on weekly jobless claims and personal income and spending at 8:30am ET.
Bernanke February 29, 2012
Bernanke sees ‘different signals’ from economy
Chicago PMI rise stronger than forecastFebruary 29, 2012
Feb. Chicago PMI 64.0.
ECONX DATAFebruary 29, 2012
Fourth-quarter U.S. GDP growth revised up to 3%.
Commercial construction up 2.8% vs. initial 1.7%.
Personal consumption rises 2.1% in fourth quarter.
Rise in 4th-quarter imports revised down to 3.8%.
Q4 inventories revised down to $54.3B from $56B.
U.S. real final sales revised up to 1.1% from 0.9%.
U.S. fourth-quarter GDP revised up to 3% from 2.8%.
Revised U.S. GDP for fourth quarterFebruary 29, 2012
U.S. government will release its revised report on how fast the economy grew in the fourth quarter at 8:30am ET.
GBPUSDFebruary 28, 2012
Higher highs
ECONX DATAFebruary 28, 2012
Consumer-confidence gauge rises to 70.8 in Feb..
YMFebruary 28, 2012
Sinking
February consumer confidenceFebruary 28, 2012
Data on consumer confidence for February are due for release at 10:00am ET from the Conference Board.
ECONX DATAFebruary 28, 2012
Case-Shiller: Dec. house prices down 0.5%.
ECONX DATAFebruary 28, 2012
Auto orders rise 0.9% in January.
U.S. durable-goods orders fall 4.0% in January.
Durable orders minus transportation drop 3.2%.
Durable orders minus defense fall 4.5% in January.
Commercial aircraft orders decline 19% last month.
Core capital goods orders decrease 4.5%.
Core capital goods shipments retreat 3.1%.
Defense capital-goods orders jump 17.7%.
TroikaFebruary 28, 2012
Portugal program on track, clears review
GBPUSDFebruary 27, 2012
Lower lows.
ECONX DATAFebruary 27, 2012
Jan. pending home sales hit nearly two-year high.
YMFebruary 24, 2012
Drifting toward the basement after recent surge to the downside.
ECONX DATAFebruary 24, 2012
New home sales in December revised up to 324,000.
New homes sell at 321,000 annual rate in January.
Median January selling price edges up to $217,100.
Supply of new homes on market falls to 5.6 months.
ECONX DATAFebruary 24, 2012
Final Feb. UMich sentiment 75.3.
February consumer sentimentFebruary 24, 2012
Data on consumer sentiment for February are due for release at 9:55am ET from University of Michigan and Thomson Reuters.
New home sales for JanuaryFebruary 24, 2012
Sales figures for new homes in January will be released at 10:00am ET by the Commerce Department.
GBPUSDFebruary 24, 2012
On a tear higher!
EURUSDFebruary 23, 2012
Super spike!
NQFebruary 23, 2012
Keeps making new HIGHS!
NQFebruary 23, 2012
Surging higher
ECONX DATAFebruary 23, 2012
FHFA: U.S. home prices down 0.1% in Q4.
FHFA: U.S. home prices up 0.7% in December.
FHFA: U.S. home prices down 2.4% in 2011.
YMFebruary 23, 2012
Drifting to the downside
GBPUSDFebruary 23, 2012
Bouncing off daily moving average
GBPUSDFebruary 23, 2012
GBPUSD on the move higher
ECONX DATAFebruary 23, 2012
Continuing U.S. claims fall 52,000 to 3.39 million.
U.S. weekly jobless claims unchanged at 351,000.
Four-week claims average drops 7,000 to 359,000.
USDCAD February 23, 2012
on the move lower
Weekly U.S. jobless claimsFebruary 23, 2012
U.S. government will issue weekly jobless claims at 8:30am ET
ECONX DATAFebruary 22, 2012
U.S. existing home sales climb 4.3% in January.
Dec. existing home sales revised lower to 4.38 mln.
Jan. housing inventory lowest since March 2005.
Jan. housing inventory down 0.4% to 2.31 million.
CORTFebruary 21, 2012
Corcept Scores A First With Cushing's Treatment Approval In The U.S.
EURUSD February 17, 2012
Selling off again
January leading indicatorsFebruary 17, 2012
Leading economic indicators for January is due for release at 10:00am ET from Conference Board
ECONX DATAFebruary 17, 2012
U.S. Jan. CPI up 0.2% vs 0.3% expected.
Jan. CPI energy prices up 0.9%.
Jan. core CPI up 2.3% yr-on-yr.
Jan. CPI up 2.9% yr-on-yr.
Jan. core CPI up 0.2% as expected.
GBPUSDFebruary 16, 2012
Striking higher highs
EURUSDFebruary 16, 2012
Strumming along higher
ECONX DATAFebruary 16, 2012
Feb. Philly Fed index hits 10.2 vs 7.3 in Jan.
Feb. Philly Fed index highest since October.
Moody’s Investors Service February 16, 2012
Moody’s puts big banks on review for downgrade...
114 financial institutions in 16 European countries on review as well
ECONX DATAFebruary 16, 2012
Wholesale prices up 4.1% in past 12 months.
U.S. jobless claims drop 13,000 to 348,000.
Four-week claims average falls 1,750 to 365,250.
Continuing claims decline 100,000 to 3.43 million.
U.S. wholesale prices rise 0.1% in January.
Wholesale prices, minus food and energy, rise 0.4%.
Wholesale prices up 4.1% in past 12 months.
U.S. Jan. housing starts up 1.5% to 699,000 rate.
Housing starts, jobless claims, PPIFebruary 16, 2012
U.S. government will release reports on jobless claims, new housing starts and producer prices at 8:30am ET
Selloff across the boardFebruary 15, 2012
Stocks futures and forex selling off.
USDCHFFebruary 15, 2012
On the move higher
ECONX DATAFebruary 15, 2012
Feb. NAHB builder gauge at top level in over 4 yrs.
ECONX DATAFebruary 15, 2012
Industrial production in U.S. unchanged in January.
ECONX DATAFebruary 15, 2012
Feb. Empire State index 19.5 vs 13.5 in Jan.
Feb. Empire State reading highest since June 2010.
Feb. Empire State above forecast of 15.0.
Feb. Empire State index jumps to 19.5.
YM, ES, NQFebruary 15, 2012
Another dip southbound
USDCHFFebruary 15, 2012
Looking for another move higher
YM, ES, NQFebruary 14, 2012
Heading to the basement.
EURUSDFebruary 14, 2012
EURUSD going for lower lows
ECONX DATAFebruary 14, 2012
Dec. U.S. business inventories up 0.4%
ECONX DATAFebruary 14, 2012
U.S. retail sales rise 0.4% in January.
Retail sales minus auto sector climb 0.7%.
December retail sales revised down to unchanged.
U.S. retail sales up 5.8% over past 12 months.
EURUSDFebruary 13, 2012
Moving lower
YMFebruary 13, 2012
Trending lower
AppleFebruary 13, 2012
Apple hits $500+ a share
U.S. stock futures fall February 10, 2012
U.S. stock futures fell Friday, along with the euro and commodities, as European finance ministers set conditions for Greece to meet before they release another round of funds.
ECONX DATAFebruary 10, 2012
U.S. trade gap grew in December to $48.8 bln.
U.S. 2011 trade gap with China record $295.5 bln.
U.S. 2011 trade gap $558 bln vs $500 bln in 2010.
U.S. December trade gap with China $23.1 bln.
Nov trade gap rev $47.1 bln vs $47.8 bln prev est.
Dec. trade gap close to consensus of $48.5 bln.
ECONX DATAFebruary 9, 2012
U.S. wholesale inventories up 1.0% in December.
Coming up: wholesale inventories for DecemberFebruary 9, 2012
Commerce Department's report on wholesale inventories is due for release at 10:00 am ET
Greek PMFebruary 9, 2012
Greek PM told Draghi major political parties back deal
Greece February 9, 2012
Draghi: Agreement on Greece has been reached
ECONX DATAFebruary 9, 2012
U.S. jobless claims fall 15,000 to 358,000.
Continuing claims increase 64,000 to 3.52 million.
Four-week claims average falls 11,000 to 366,250.
ECB holds rates unchangedFebruary 9, 2012
European Central Bank offered no surprises Thursday, holding its key lending rate unchanged as investors turn to Mario Draghi’s monthly news conference for clues to the institution’s next moves to contain the euro-zone’s long-running debt crisis.
Coming up: Weekly jobless claimsFebruary 9, 2012
The U.S. Labor Department is set to release weekly jobless claims at 8:30am ET.
EURUSDFebruary 8, 2012
Euro sinking on Greece concerns
Markerts tanking February 8, 2012
Across the board
GBPUSD February 8, 2012
Current whip, to the south.
YM February 8, 2012
Making a move higher
USDCADFebruary 8, 2012
Taking the slow train south.
Consumer credit surges again in DecemberFebruary 7, 2012
U.S. consumers increased their debt in December by a seasonally adjusted $19.3 billion, the Federal Reserve reported Tuesday. The increase is just below November's $20.4 billion pace which was the biggest gain in a decade. Monthly debt rose by a 9.4% pace in December, after a 9.9% pace in the prior month. The increase in consumer credit in December was much larger than expected by Wall Street economists. All types of credit gained in the month. The non-revolving category of debt, such as auto loans, personal loans, and student loans, jumped $16.6 billion, or 11.8%, in December. This is the largest amount since November 2001. Credit-card debt increased by $2.8 billion, or 4.1%, in the month. For the year, consumer credit rose 3.7%, the largest increase since 2007.
NQFebruary 7, 2012
Blowing by daily hod
EURUSDFebruary 7, 2012
Higher highs on the day
USDCHF February 7, 2012
SINKING!
YMFebruary 7, 2012
on the move higher
USDCADFebruary 7, 2012
Heading lower
Obama puts sanctions on Iranian central bankFebruary 6, 2012
President Barack Obama has placed new sanctions on the government of Iran, including its central bank, the White House announced Monday. In an order signed Sunday, Obama said that the sanctions are warranted because of "deceptive practices" by the Iranian central bank to conceal transactions designed to go around sanctions already in place. There has been mounting tension over Iran's nuclear program in the U.S. and in Israel. Discussions of a potential Israeli attack on Iran are widespread. In an interview on the NBC News 'Today' program Monday, Obama said the U.S. has a "very good estimate" of when Iran could complete work on a nuclear weapon. He said that he believes the standoff can be resolved peacefully but the U.S. will keep all options on the table.
USDCHFFebruary 6, 2012
Slowly moving higher
NQFebruary 6, 2012
Trending lower
GBPUSDFebruary 6, 2012
Drifting lower
USDCHFFebruary 3, 2012
On the move into lower territory
YM AND NQFebruary 3, 2012
On the move higher
ECONX DATAFebruary 3, 2012
U.S. Dec. factory orders up 1.1%.
Nov. factory orders up revised 2.2% vs 1.8% prev..
Dec. factory orders below consensus of 1.4% rise.
Jan. ISM services index 56.8%.
December ISM servicesFebruary 3, 2012
Institute for Supply Management's services sector gauge for January is due for release at 10:00am ET
ZOLT (wow)February 3, 2012
Carbon fiber specialist Zoltek Companies Inc. ZOLT +27.77% rallied 25% in premarket trades on Friday after the company said it swung to a first-quarter profit of 28 cents a share, from a loss of 5 cents a share, in the year-ago period. The St. Louis company's sales rose 43% to $47 million. Zoltek said it's the leading supplier of carbon fibers used in wind turbines. Looking ahead, Zoltek said the large turbine segment of wind energy will increase at an annual rate of 15% to 25% for the next decade or more. The company said it continues to expect a $500 million revenue run rate in the next three years.
EURUSDFebruary 3, 2012
EURUSD... continues its fall lower and lower
USDCHF February 3, 2012
USDCHF bolting higher
GBPUSDFebruary 3, 2012
GBPUSD heading lower
YMFebruary 3, 2012
YM on the move higher
ECONX DATAFebruary 3, 2012
Private sector added 257,000 jobs last month.
U.S. created 243,000 jobs in January.
U6 jobless rate dips to 15.1% from 15.2%.
U.S. unemployment rate drops to 8.3% from 8.5%.
Average hourly wages rise 0.2% to $23.29.
Average workweek unchanged at 34.5 hours.
December payrolls revised up to 203,000.
November payrolls revised up to 157,000.
U.S. jobs report for JanuaryFebruary 3, 2012
U.S. federal government will issue the monthly report on U.S. employment at 8:30am ET.
Federal Reserve Board Chairman Ben Bernanke February 2, 2012
Federal Reserve Board Chairman Ben Bernanke warned Thursday that the U.S. risks the possibility of a sudden fiscal crisis unless Washington comes to grips with the deficit.
“Although historical experience and economic theory do not indicate the exact threshold at which the perceived risks associated with the U.S. public debt would increase markedly, we can be sure that, without corrective action, our fiscal trajectory will move the nation ever closer to that point,” Bernanke said in testimony to the House Budget Committee.
USDCADFebruary 2, 2012
USDCAD moving lower
ESFebruary 2, 2012
ES on the move higher
ECONX DATAFebruary 2, 2012
Weekly U.S. jobless claims fall 12,000 to 367,000.
U.S. productivity in fourth quarter rises 0.7%.
Fourth-quarter productivity increases 0.7%.
Continuing claims decline 130,000 to 3.44 million.
Jobless claims, quarterly productivityFebruary 2, 2012
U.S. government will release weekly jobless claims and fourth-quarter productivity at 8:30am ET.
Fed's Plosser: Inflation needs careful watchingFebruary 1, 2012
Inflation may moderate in the near term but that doesn't mean the Federal Reserve can relax, said Charles Plosser, the president of the Philadelphia Federal Reserve Bank on Wednesday. With commodity prices now leveling off or declining and investors not expecting higher prices, "inflation will moderate in the near term," Plosser said. "As a policy maker though, I focus less on the near term and more on the medium term," he said. With the Fed's very easy monetary policy now in place for more than three years, "we must continue to monitor inflation measures very carefully," Plosser said in a speech to the Main Line Chamber of Commerce in suburban Philadelphia. Plosser said he did not support the Fed's statement after its January meeting that pushed out its guidance of when the first rate hike might occur by 18 months until late 2014. Plosser said the economy had improved since late last year and more easing only risked "undermining confidence." Earlier this week, Plosser said, in a television interview, that the Fed might have to hike rates before the end of the year.
Short the EURUSDJanuary 31, 2012
Lower lows...
Chicago PMIJanuary 31, 2012
Chicago PMI falls to 60.2 in January from 62.2.
January consumer confidenceJanuary 31, 2012
Data on consumer confidence for January due for release at 10:00am ET from the Conference Board.
GTXIJanuary 30, 2012
GTX soars 35% on analyst upgrade reports.
EURUSD January 26, 2012
Heading lower
ECONX DATAJanuary 26, 2012
Leading economic indicators rise 0.4% in December.
December leading indicatorsJanuary 26, 2012
A report on leading economic indicators for December is due for release at 10:00am ET from the Conference Board
ECONX DATAJanuary 26, 2012
U.S. jobless claims increase 21,000 to 377,000.
Continuing claims climb 88,000 to 3.55 million.
Dec. 'core' durable-goods orders rise 2.9%.
Dec. durable-goods shipments rise 2.1%.
Dec. durables ex-transportation rise 2.1%.
Dec. durable-goods above 2.4% expectations.
U.S. Dec. durable-goods orders up 3.0%.
Jobless claims, durable goodsJanuary 26, 2012
U.S. government's weekly report on jobless claims and its monthly report on orders for durable goods will be issued at 8:30am ET.
USDCAD & USDCHFJanuary 25, 2012
Heavy move to the downside
ECONX DATAJanuary 25, 2012
BREAKING Fed extends low-rate pledge through late 2014.
One dissent from Fed policy vote.
Fed pushes out low rate pledge to late 2014.
Fed says inflation has been subdued.
Fed says unemployment rate elevated.
Fed holds rate policy steady as expected.
Fed pushes out low rate pledge to late 2014.
ECONX DATAJanuary 25, 2012
Pending home sales fall 3.5% in December.
U.S. stock futures mixed on earningsJanuary 25, 2012
U.S. stock futures trended lower on Wednesday as investors sorted through mixed corporate earnings, with Apple Inc.’s record profit helping to lift Nasdaq Composite futures.
IMF cuts world growth outlook as euro fears riseJanuary 24, 2012
International Monetary Fund, in an update to its world economic outlook, cut its forecast for global growth in 2012 and 2013 due to intensifying risks from the euro zone's ongoing debt crisis. The IMF said it expects world output to grow 3.3% in 2012, down from 3.8% in 2011 and down from a forecast of 4% in September.
USDCADJanuary 24, 2012
Making nice moves to the upside.
Fed plans makeover meant to soothe hawks and dovesJanuary 24, 2012
For the first time, Fed officials will release forecasts for their best guess of the path of short-term rates for coming years. They will also provide the likely time of the first rate hike and will also disclose qualitative assessments of the role of the balance sheet ahead.
USDCHFJanuary 23, 2012
USDCHF free fall
NYSE program tradingJanuary 20, 2012
NYSE program trading mostly flat last week
YMJanuary 20, 2012
Moving to higher highs
ECONX DATAJanuary 20, 2012
Inventories representing 6.2 months of supply.
Dec. U.S. existing home sales up 5% to 4.61 mln.
2011 existing home sales up 1.7% to 4.26 million.
Dec. median sales price down 2.5% to $164,500.
2011 median sales prices were $166,100, down 3.9%.
Inventories drop 9.2% to 2.38 million.
Existing home sales rise 5% in December.
ECONX DATAJanuary 19, 2012
Jan. Philly Fed index 10.0.
ECONX DATAJanuary 19, 2012
Consumer price index unchanged in December.
U.S. jobless claims fall 50,000 to 352,000.
U.S. weekly jobless claims sink 50,000 to 352,000.
Four-week claims average drops 3,500 to 379,000.
Continuing claims decline 215,000 to 3.43 million.
CPI minus food, energy rises 0.1% in December.
U.S. consumer prices rise 3.0% in 2011.
Inflation-adjusted hourly wages up 0.2% last month.
U.S. 2011 housing starts 606,900 vs 586,900 2010.
December starts much weaker than 695,000 expected.
U.S. Dec. housing starts down 4.1% to 657,000.
CPI, housing starts, jobless claimsJanuary 19, 2012
U.S. government will release reports on consumer inflation, new-home construction and weekly jobless claims at 8:30am ET
USDCHFJanuary 18, 2012
Lower lows
YMJanuary 18, 2012
Higher high's.
ECONX DATAJanuary 18, 2012
Dec. industrial output rise matches expectations.
U.S. December industrial output up 0.4%.
Dec. capacity utilization 78.1% vs. 77.8% Nov..
December output at factories alone up 0.9%.
December industrial outputJanuary 18, 2012
Federal Reserve is due to release its estimate for December industrial output at 9:15 am ET.
ECONX DATAJanuary 18, 2012
U.S. wholesale prices fall 0.1% in December.
Core index up 3.0% in 2011, fastest since mid-2009 .
Producer prices climb 4.8% over past 12 months.
Producer prices minus food, energy rise 0.3%.
GSJanuary 18, 2012
Goldman Sachs profit dives 58%.
'TIC' data for NovemberJanuary 18, 2012
Treasury Department's international capital data for November, or the 'TIC' report, is due for release at 9:00am ET.
U.S. producer prices for DecemberJanuary 18, 2012
Labor Department will issue the monthly report on wholesale U.S. inflation at 8:30am ET.
SelloffJanuary 17, 2012
Markets, futures and forex on southbound trend.
ECONX DATAJanuary 17, 2012
January Empire State index jumps to 13.5.
EURUSDJanuary 13, 2012
No floor in site.
YM AND NQJanuary 13, 2012
Dive dive dive.
GBPUSDJanuary 13, 2012
Tumbling lower.
Consumer sentiment for JanuaryJanuary 13, 2012
Consumer sentiment for January are due for release at 9:55am ET.
Euro country downgrades possibleJanuary 13, 2012
Standard & Poor's could move as early as Friday to downgrade euro-zone countries
ECONX DATAJanuary 13, 2012
U.S. November trade gap with China $26.9 billion.
U.S. trade gap widens sharply in November.
U.S. November trade gap largest since June .
November trade gap above consensus of $44.8 bln .
U.S. November trade gap widens 10.4% to $47.8 bln.
EURUSDJanuary 13, 2012
EURUSD trying for move to the upside.
ECONX DATAJanuary 12, 2012
U.S. Dec. budget deficit $86 billion: Treasury.
ECONX DATAJanuary 12, 2012
Nov. U.S. business inventories up 0.3%.
Coke finds fungicide in some orange juiceJanuary 12, 2012
Coca-Cola Co. reported it has found an unapproved fungicide in some of the orange juice it produces and has pointed out to the federal government that some growers in Brazil were using it on their crops.
ECONX DATAJanuary 12, 2012
Continuing claims climb 19,000 to 3.63 million.
Four-week claims average rises 7,750 to 381,750.
Continuing claims climb 19,000 to 3.63 million.
Dec. 'core' retail sales down 0.2%.
Dec. retail sales ex-auto and ex-gas flat.
Dec. retail sales ex-gasoline up 0.3%.
Nov. retail sales revised to up 0.4% vs 0.2% prev.
Dec. sales ex-auto down 0.2% vs. up 0.3% expected.
U.S. Dec. retail sales up 0.1% vs. 0.3% expected.
Jobless claims, December retail salesJanuary 12, 2012
The government will issue reports on weekly jobless claims and U.S. retail sales for December at 8:30am ET.
YMJanuary 11, 2012
Making its move toward a rebound.
Citi cuts Urban Outfitters to sellJanuary 11, 2012
Urban Outfitters URBN -16.19% shares fell 15% to $24.87 in premarket trades on Wednesday after the company named a new chief executive officer. Citi analyst Jeff Black cut his rating on the retailer to sell from buy and slashed his price target on the stock to $20 from $34. Black cited "too much management flux" and "not enough merchandise traction."
Europe jittersJanuary 11, 2012
U.S. stock futures slid this morning, taking a cue from European equity markets after Fitch Ratings said the European Central Bank must do more to help Italy, while investors awaited the Federal Reserve’s Beige Book report on the U.S. economy - out at 2pm ET today.
Fed hands $76.9 billion to TreasuryJanuary 10, 2012
The Federal Reserve transferred $76.9 billion in earnings to the U.S. Treasury during 2011, the central bank announced Tuesday, a side benefit of its unprecedented efforts to stimulate the economy through asset purchases.
Offshore 7.3 quake hits near Sumatra in IndonesiaJanuary 10, 2012
A 7.3 magnitude earthquake struck of the northwest coast of the island of Sumatra in Indonesia at 10:37am PT, according to the U.S. Geological Survey.
OJ futures surge as FDA tests for fungicideJanuary 10, 2012
Futures of frozen orange juice concentrate in New York surged on concerns that the presence of a fungicide in samples from Brazil could crimp supplies.
YMJanuary 10, 2012
Finally cooperating - to the downside.
WBMDJanuary 10, 2012
WebMD terminates merger talks; CEO steps down.
Swiss central bank president Hildebrand resigns January 9, 2012
Hildebrand quits amid currency trades controversy and to make statement later today.
ECONX DATAJanuary 6, 2012
U.S. economy created 200,000 jobs in December.
BBYJanuary 6, 2012
Best Buy December same-store sales down 1.2%.
U.S. jobs report for DecemberJanuary 6, 2012
U.S. government will issue the monthly report on U.S. employment at 8:30am ET.
WAGJanuary 5, 2012
Moody's puts Walgreen on review for possible cut.
ECONX January 5, 2012
Dec. ISM services index 52.6%.
YMJanuary 5, 2012
Making nice rebound, higher.
YMJanuary 5, 2012
tumbling lower
NQJanuary 5, 2012
Sinking!
ECONX DATAJanuary 5, 2012
Weekly jobless claims drop 15,000 to 372,000.
Four-week claims average drops 3,250 to 373,250.
Continuing claims decline 22,000 to 3.6 million.
ECONX DATAJanuary 5, 2012
December private-sector jobs rise 325K: ADP.
SODAJanuary 5, 2012
Kraft Foods and SodaStream ( SODA) Enter Strategic Co-Branding Deal.
Weekly U.S. jobless claimsJanuary 5, 2012
U.S. Labor Department is set to release weekly jobless claims at 8:30am ET
U.S. stocks trim drop as retailers riseJanuary 4, 2012
U.S. stocks on Wednesday erased much of their decline as evidence of strong post-holiday shopping and healthy car sales in December helped offset concern about Europe’s debt troubles.
ECONX DATAJanuary 4, 2012
Factory orders climb 1.8% in November.
Retail stocks slipJanuary 4, 2012
Retail stocks headed lower with the broader markets, ahead o data scheduled out tomorrow.
ECONX DATAJanuary 3, 2012
Fed to give more details about expected rate path; Fed to provide estimates of timing of first hike; Fed to include new information beginning in Jan; Fed still working on statement on longer-run goals; Number' on Fed backed more easing in Dec; 'Few' on Fed oppose easy stance beyond near-term; Fed saw Europe as key downside risk; Many on Fed urge more action by Europe; Some on Fed worried about too-low inflation.
Dec. ISM manufacturing index hits 6-month highJanuary 3, 2012
The Institute for Supply Management's manufacturing index for December climbed to 53.9% from 52.7% in November, which is a six-month high. Economists polled by MarketWatch had anticipated a 53.0% reading. Any reading above 50 indicates expansion. The production and employment gauges each rose 3.3 points, and there was a 0.9 percentage point gain for the new orders index.
ECONX DATAJanuary 3, 2012
Dec. ISM manufacturing index 53.9%.
ISM manufacturing index highest since June.
Triple-digitJanuary 3, 2012
Markets in rally mode on first trading session of the new year. Dow hosting triple-digit gain of over 226 points.
Data coming up at 10am ETJanuary 3, 2012
December ISM manufacturing survey
GBPUSDJanuary 3, 2012
Drifting lower
EURUSDJanuary 3, 2012
Moving to the downside.
New U.S. home sales for NovemberDecember 23, 2011
November report on new-home sales will be issued at 10am ET.
ECONX DATADecember 23, 2011
Personal income rises 0.1% in November.
Durable-goods orders rise 3.8% in November.
Personal spending rises 0.1% in November.
PCE inflation gauge shows no growth in November.
Core PCE index rises 0.1% in November.
Core PCE index up 1.7% over past 12 months.
Durable-goods orders minus transportation up 0.3%.
Transportation orders rise 14.7% in November.
Core-capital-goods orders fall 1.2% in November.
Nov. durable goods, personal incomeDecember 23, 2011
November reports for durable-goods and personal income will both be issued at 8:30am ET.
Obama calls on House to pass payroll-tax cutDecember 22, 2011
With a tax hike for American workers just nine days away, President Barack Obama urged Congress to send him a two-month extension of a payroll-tax cut and then negotiate a year-long deal. Speaking at the White House, he said "a faction" of House Republicans is holding up an extension and that continuing the cut is insurance for the economic recovery. "Enough is enough," Obama said. Without action by Congress the payroll-tax will revert to 6.2% from 4.2%.
YMDecember 22, 2011
YM on the move higher.
November leading indicatorsDecember 22, 2011
Report on leading economic indicators for November is due for release at 10am ET from the Conference Board.
ECONX DATADecember 22, 2011
Weekly U.S. jobless claims fall 4,000 to 364,000.
U.S. Q3 GDP growth revised lower.
Four-week claims average falls 8,000 to 380,250.
Continuing claims fall 79,000 to 3.55 million.
Four-week continuing claims avg down 40K to 3.63M.
Q3 GDP revisions due to lower consumer spending.
Q3 corporate profits up revised 1.2% vs 1.6% prev.
Q3 core PCE up 2.1% vs. 2.0% prev. estimate.
U.S. Q3 GDP below 2.0% forecast.
U.S. Q3 GDP up 1.8% vs. 2.0% prev. estimate.
U.S. jobless claimsDecember 22, 2011
U.S. Labor Department is set to release data on weekly jobless claims at 8:30am ET.
Existing-home sales downwardly revised 14% December 21, 2011
Nov. existing-home sales up 4% to 4.42M ;
Nov. existing-home prices down 3.5% yr-on-yr
YM, ES, NQDecember 21, 2011
Falling hard
November existing-home salesDecember 21, 2011
National Association of Realtors is due to report existing-home sales for November at 10:00am ET.
Walgreen profit falls 4.5% amid higher costsDecember 21, 2011
Walgreen Co.'s WAG -6.51% fiscal first-quarter earnings fell 4.5% on higher costs as the drugstore chain appeared poised to begin the new year without a contract with Express Scripts Inc.
YMDecember 21, 2011
YM trending nicely lower.
USDCHF December 21, 2011
USDCHF trying to make a move higher.
U.S. dollar slides after strong housing reportDecember 20, 2011
The dollar fell further on Tuesday after a strong U.S. housing report boosted stocks and commodities, reversing the flight from riskier assets in the previous session.
Fed proposes tougher rules for big banksDecember 20, 2011
Federal Reserve released a package of post-crisis proposals detailing new tougher rules for big banks, including a measure that would limit how much a large financial institution can lend to other large banks.
Payroll-tax stalemateDecember 20, 2011
A stalemate between Republicans and Democrats about extending a soon-to-expire payroll-tax cut hardened on today as the House rejected a short-term bill passed last weekend in the Senate and demanded negotiations on a new plan.
Fed issues draft Dodd-Frank big bank rules: December 20, 2011
The Federal Reserve on Tuesday released a package of post-crisis proposals detailing new tougher rules for big banks, including a measure that would limit a large financial institution's credit exposure to other large banks. The central bank said it would implement an aspect of a global agreement on bank capital, known as Basel III, named after the city in Switzerland where past agreements have been formed. However, the central bank said it would release a proposal later providing the details of how it would do so. The agency proposed new stringent rules on transactions between big banks, exposing them to possible leverage prohibitions and sets forth a series of new punishments for violators. The regulations would impact the largest U.S. banks including Bank of America Corp. BAC +2.81% , Citigroup Inc. C +3.71% and J.P. Morgan Chase & Co. JPM +3.62% . Based on the proposal, a large designated bank with more than $500 billion in assets is prohibited from having a credit exposure of more than 10% of its stock and surplus with a counterparty bank that also has more than $500 billion in assets.
ECONX DATADecember 20, 2011
Oct. starts revised to 627,000 vs 628,000 prev est.
Nov. building permits highest since March 2010.
Nov. housing starts up 9.3% to 685,000 annual rate.
Oct. starts revised to 627,000 vs 628,000 prev est.
November housing startsDecember 20, 2011
November data on new construction of U.S. houses are due for release at 8:30am ET from the Commerce Department.
DATADecember 19, 2011
S&P 500 rises 2 points to 1,222.
Kim Jong-il December 19, 2011
North Korea Kim Jong-il died over the eekend
GBPUSD AND EURUSDDecember 16, 2011
at new lows
YM AND ESDecember 16, 2011
at new lows.
ECONX DATADecember 16, 2011
U.S. consumer prices flat in November.
Core CPI minus food, energy rises 0.2% in November.
Core CPI minus f U.S. consumer prices up 3.4% in past 12 monthsises 0.2% in November.
Inflation-adjusted average hourly wages fall 0.1%.
Consumer price index for NovemberDecember 16, 2011
The U.S. Labor Department is set to release its monthly report on consumer prices at 8:30am Eastern Time.
Corzine refutes CME accusationDecember 15, 2011
Jon Corzine, the former head of MF Global, on Thursday refuted assertions made by the executive chairman of CME Group that Corzine may have known about a loan made using customer funds to one of the firm's European affiliates. "I don't know the source of the suggestions, but let me repeat clearly: While the last few days of MF Global were chaotic I did not instruct anyone to lend customer funds to MF Global or any of its affiliates nor was I told that anyone had done so," Corzine told a congressional committee.
S&P 500 December 15, 2011
S&P 500 teeters on major support - specific band spans from S&P 1,215 to 1,226, and the response to this area should set the near-term technical tone.
Christine Lagarde, the managing director of the International Monetary FundDecember 15, 2011
European debt crisis is escalating and there must be a global response to resolve it, said Christine Lagarde, the managing director of the International Monetary Fund, on Thursday, according to a report by Bloomberg News. Lagarde said the crisis must be resolved by all categories of countries, not just one group. Lagarde made the remark at an event at the State Department focusing on increasing the number of women in public service.
Diamond FoodsDecember 15, 2011
Diamond Foods shares hit by SEC probe
GBPUSDDecember 15, 2011
Tumbling!
Senate leaders optimistic on avoiding shutdownDecember 15, 2011
With the threat of a government shutdown looming on Friday, the Senate’s top Democratic and Republican leaders indicated Thursday morning they were closer to a deal that would avoid closing many federal operations in about a day’s time.
ECONX DATADecember 15, 2011
Weekly U.S. jobless claims fall 19,000 to 366,000.
Dec. Empire State index above forecast of 3.0.
Dec. Empire State reading highest since May.
Dec. Empire State index 9.5 vs. 0.6 in Nov..
Wholesale prices up 5.7% over past 12 months.
Continuing claims rise 4,000 to 3.60 million.
Four-week claims average declines 6,500 to 387,750.
Jobless claims drop to lowest level since May 2008.
Q3 current account deficit $110.3 bln vs $124.7 bn.
Google removes 22 app scamsDecember 14, 2011
Google has removed 22 so-called “RuFraud” apps from its Android Market after it was discovered they could jack phones into sending out expensive text messages. The fake apps are believed to be Russian in origin, hence the RuFraud moniker.
NQ SupportDecember 14, 2011
Nasdaq losing heavy from move below key support.
U.S. stock indexes down with EuropeDecember 14, 2011
U.S. stocks opened lower Wednesday, extending losses into a third day, as Italy’s borrowing costs rose to a record after an auction of five-year debt and as the euro broke 11-month lows against the dollar.
NQDecember 14, 2011
Very nice short trend going on - losing heavy from move below key support
Payroll-tax billDecember 14, 2011
Senate Democratic Leader Harry Reid said Wednesday he wants to hold a vote later in the day on a House-passed bill to extend a payroll-tax cut, but predicted again that the bill is "dead" in his chamber. "It's time to get this vote over with," Reid said. He said "real negotiations" about extending the payroll-tax cut can begin after the Senate votes. Democrats object to language in the House bill that speeds up approval of a U.S.-Canada oil pipeline and other measures.
Euro, U.S. import prices in the spotlightDecember 14, 2011
U.S. stock futures slip; euro drops below $1.30
U.S. stock futures turned lower on Wednesday, as the euro dropped below the key $1.30 level after Italy had to pay a euro-era-high yield to sell five-year bonds.
NTSB recommends ban on cell phones for driversDecember 13, 2011
The National Transportation Safety Board recommended Tuesday that there be a ban on "the non-emergency use of portable electronic devices (other than those designed to support the driving task) for all drivers" in all 50 states and the District of Columbia because of their potential to distract motorists and cause accidents. The NTSB said it came to that conclusion based on its investigation of a 2010 traffic accident in Gray Summit, Mo., in which two people were killed and 35 were injured when the driver of a pickup truck was text messaging and failed to see a tractor, causing a chain of collisions.
FCC cracks down on loud TV commercialsDecember 13, 2011
Federal Communications Commission said Tuesday it has put rules into place intended to deal with "one of the most persistent problems of the television age" -- loud TV commercials. The agency said regulations under the 2010 Commercial Advertisement Loudness Mitigation (CALM) Act require that commercials have the same average volume as the programs they accompany. The rules become effective Dec. 13, 2012, at which time all TV stations and operators of pay-TV systems must comply.
Siemens BribesDecember 13, 2011
U.S. Securities and Exchange Commission charged seven former Siemens executives over an alleged decade-long bribery scheme to retain a $1 billion Argentine contract. The Department of Justice brought parallel criminal charges. The German firm previously paid $1.6 billion to settle bribery charges with the SEC, the DOJ and the Office of the Prosecutor General in Munich.
Payroll-tax cut decision TuesdayDecember 13, 2011
House of Representatives will approve a payroll-tax cut extension on Tuesday "with bipartisan support," House Speaker John Boehner predicted. The measure, which also calls for fast-tracked approval of an oil pipeline from Canada to the U.S. Gulf Coast, faces a steep uphill climb in the Senate and opposition from the White House. Boehner and Republicans say the pipeline project will create jobs; the White House has delayed a decision until 2013.
ECONX DATADecember 13, 2011
Business inventories climb 0.8% in October.
Retail inventories unchanged in October.
Inventory-to-sales ratio flat at 1.27.
U.S. business inventories for OctoberDecember 13, 2011
Government will report U.S. business inventories at 10am ET
U.S. business inventories for OctoberDecember 13, 2011
Government will report U.S. business inventories at 10am ET
Sandusky December 13, 2011
Ex-Penn St. coach Sandusky waives preliminary
Morgan Stanley settles CDS issues with MBIADecember 13, 2011
Morgan Stanley reported that it has reached a settlement with bond insurer MBIA Inc. regarding several lawsuits over credit default swaps which will lead to a $1.8 billion pretax charge.
Alexza PharmaceuticalsDecember 13, 2011
U.S. Food and Drug Administration panel has recommended that Alexza Pharmaceuticals' schizophrenic and bipolar disorder treatment be approved for use.
ECONX DATADecember 13, 2011
U.S. retail sales rise 0.2% in November.
Auto sales increase 0.5% in November.
Retail sales for NovemberDecember 13, 2011
The government will release U.S. retail sales for November at 8:30am ET.
Gold down 3% as Europe worries rattle marketDecember 12, 2011
Gold futures dropped nearly 3% to trade under $1,700 an ounce Monday, as renewed anxiety about euro-zone debt problems pushed investors into the dollar and away from commodities.
U.S. stocks fall sharply on Moody’s warningDecember 12, 2011
U.S. stocks fell hard on Monday, retreating after a second week of gains for the Standard & Poor’s 500 Index, after Moody’s Investors Service said it would review the ratings of countries in the euro area and Intel Corp. trimmed its fourth-quarter revenue outlook.
Treasurys gain on EU worries before auctionDecember 12, 2011
Treasury prices gained on Monday, pushing yields down, as investors raised doubts that the measures announced by European Union leaders last week addressed the short-term problems of high borrowing costs for some heavily indebted members.
NYSE resolves matching-engine issueDecember 12, 2011
New York Stock Exchange said it resolved an earlier technical glitch that was preventing the acceptance of new orders in about 100 stocks.
News Breaks December 9, 2011
: Diamond Foods rallies after KeyBanc says investigation should end quickly
Diamond Foods (DMND) shares are up almost 35% after KeyBanc said in a note to investors this morning that the company's ongoing audit committee investigation could be wrapped up quickly. KeyBanc believes the investigation will reveal Diamond Foods properly accounted for various payments made to growers and reiterated its Buy rating on shares. KeyBanc lowered its price target for the stock to $76 from $95, but its estimate remains well above the current share price of $35.58, even with today's rally of $8.89, or 33%. :theflyonthewall.com
ECONX DATADecember 9, 2011
Dec. UMich consumer sentiment 67.7 vs 64.1 Nov.
December consumer sentimentDecember 9, 2011
December consumer sentiment out at 9:55am ET.
ECONX DATADecember 9, 2011
Sept trade gap rev $44.2 bln vs $43.1 bln prev est.
U.S. trade gap narrows for fourth straight month.
Oct. trade gap lowest of 2011.
U.S. Oct. trade gap narrows 1.6% to $43.5 bln.
DuPont December 9, 2011
DuPont lowered its 2011 profit outlook as its customers tighten spending in an uncertain economic environment.
U.K. could be lone EU nation outside fiscal unionDecember 9, 2011
In a revised statement outlining measures aimed at a stronger economic union, euro-zone leaders said on Friday that nine countries outside the currency zone -- with the exception of Britain -- may join them in forging closer fiscal ties. "The heads of state or government of Bulgaria, Czech Republic, Denmark, Hungary, Latvia, Lithuania, Poland, Romania and Sweden indicated the possibility to take part in this process after consulting their Parliaments where appropriate," the euro-zone statement said. The EU has 27 members, with 17 of them using the euro as their currency.
Euro drops after Draghi cools bond-buy hopesDecember 8, 2011
The euro fell against the U.S. dollar on Thursday after the European Central Bank’s chief dashed hopes that the central bank would immediately expand its bond purchase program to help distressed European countries.
CorzineDecember 8, 2011
Jon Corzine, the former chief of failed MF Global, apologized to customers of the firm and told lawmakers Thursday that he did not know where missing money was located.
Democrats' payroll tax billDecember 8, 2011
A Democratic bill that would extend a payroll tax holiday by taxing incomes of $1 million and above failed a test vote in the Senate.
U.S. stock indexes down with EuropeDecember 8, 2011
U.S. stocks fell Thursday after the European Central Bank curbed thinking that it would boost debt purchases and regulators said the region’s banks needed to raise additional capital.
“Europe is fundamentally broken, so it’s hard for the world to gain confidence when we see a very duct-tape approach,” said Kevin Brungardt, chairperson of RoundPoint Financial Group.
Down after a three-day rise, the Dow Jones Industrial Average DJIA -1.16% fell 153.45 points, or 1.2%, to 12,044.62.
The Standard & Poor’s 500 SPX -1.60% lost 20.47 points, or 1.6%, to 1,240.54, with financial companies taking the biggest hit among its 10 major industry groups.
Senate blocks consumer agency nominee CordrayDecember 8, 2011
The Senate on Thursday blocked the White House's nominee to head the newly formed Consumer Financial Protection Bureau by a vote of 53 to 45. The vote to end debate on the nomination of Ohio Attorney General Richard Cordray to head the watchdog consumer agency would have required 60 votes to pass. The vote was almost entirely along party lines. Republicans said they would not vote for Cordray without changes to the consumer agency's structure. They had been expected to prevail because more than 40 of them had promised this summer to oppose him without the changes, ensuring that a filibuster could not be broken. Republicans said the CFPB director has almost czar-like powers and want to replace the single position with a five-member commission with the president's party in the majority, a structure that is similar to the Securities and Exchange Commission.
House Republicans December 8, 2011
House Republicans on Thursday tied an extension of a payroll tax cut and unemployment benefits to swiftly approving the Keystone oil pipeline between the U.S. and Canada. President Barack Obama has said he will not accept linking the pipeline project with an extension of the tax cut, which will expire at the end of this year if Congress does not act. House Speaker John Boehner, an Ohio Republican, said "the American people cannot wait" for the jobs the pipeline would bring and said the House would vote on the GOP bill next week. The Obama administration has delayed a decision on Keystone until 2013.
ECONX DATADecember 8, 2011
Jobless claims at lowest level since February.
U.S. jobless claims down 23,000 to 381,000.
AFFYDecember 8, 2011
Affymax price target raised to $17 from $10 at Piper Jaffray.
ECB cuts lending rateDecember 8, 2011
ECB cuts key lending rate to 1% from 1.25%
Blagojevich December 7, 2011
Former Illinois Gov. Rod Blagojevich was sentenced to a total of 14 years in prison by a federal judge.
Deutsche wants NYSE merger "but not at any price"December 7, 2011
German stock market operator Deutsche Boerse AG's chief financial officer Wednesday said the company wants a merger with NYSE Euronext NYX -4.41% , "but not at any price."
Gregor Pottmeyer added the "industrial and economic logic" of the merger shouldn't be compromised by antitrust requirements.
Deutsche Boerse and NYSE's planned tie-up has faced anti-trust resistance in Europe and the candidates last month submitted a range of potential remedies to overcome competitive concerns raised by the proposal, including selling off overlapping options markets in Europe.
Martha Stewart December 7, 2011
Martha Stewart mini-stores to open at Penney's
USDCADDecember 7, 2011
Slowly climbing higher and higher.
NQDecember 7, 2011
Plummeting!
ESDecember 7, 2011
Lower lows
YM December 7, 2011
Lower lows
ECB expected to easeDecember 7, 2011
European Central Bank is expected to deliver its second rate cut in as many months Thursday.
AG urges investigation of Ally MortgageDecember 6, 2011
Massachusetts Attorney General Martha Coakley is urging legislators to investigate alleged improper foreclosure practices by Ally Financial Inc. , which said last week it would scale back most of its mortgage lending in the state.
Ally's announcement came after Coakley filed a lawsuit Thursday against the company and the four other largest mortgage servicers, accusing the companies of robo-signing, which involves employees signing documents without properly reviewing them, as well as deceiving borrowers about the availability of loan modifications.
A day later Ally said GMAC Mortgage, its mortgage lending subsidiary, would stop purchasing new mortgage loans in Massachusetts that are originated by correspondent lenders and wholesale brokers. Ally blamed the move on "recent developments" that have "led mortgage lending in Massachusetts to no longer be viable."
Coakley, in a letter to Sen. Tim Johnson (D-S.D.) and Rep. Spencer Bachus (R-Ala.) dated Tuesday, urged the legislators' committees to investigate the alleged actions by the government-owned company. Johnson is chairman of the Senate Committee on Banking, Housing and Urban Affairs and Bachus is chairman of the House Committee on Financial Services.
"The federal government should not tolerate Ally's serious misconduct and instead should hold them accountable for unlawful actions taken against borrowers," the letter said.
A spokeswoman for Ally did not immediately have a comment when contacted Tuesday.
The company said in a filing with the Securities and Exchange Commission on Friday that the Massachusetts lawsuit will likely result in "penalties, sanctions, or other adverse actions, including monetary fines."
The lawsuit also named Bank of America Corp. BAC -0.52% , J.P. Morgan Chase & Co. JPM -1.58% , Wells Fargo & Co. WFC -0.11% and Citigroup Inc. C -1.61% as well as the Mortgage Electronic Registration System, or MERS, as defendants.
Ally, formerly owned by General Motors Co. GM -0.54% , received $17.2 billion in bailout funds in 2008 and 2009. The company, which also offers auto lending and direct banking services, announced plans for an initial public offering earlier this year to pay back the government's 74% stake, but those plans have been on hold as it deals with repercussions from the housing bust.
S&P’s euro-zone warning in the spotlightDecember 6, 2011
Indications: U.S. stock-index futures hold gains
U.S. stock futures traded higher, a day after S&P warned it could downgrade the ratings of 15 euro-zone countries.
Economic Report: Australia cuts rates, citing global growth fears
Australia’s central bank cut its key cash rate for the second month in a row amid fears the slowdown in Europe has dampened the outlook for global growth.
Fed's Evans says 'liquidity trap' demands actionDecember 5, 2011
There is a liquidity trap that is causing the supply of savings to exceed the demand for investment even at very low interest rates, according to a speech from Chicago Fed President Charles Evans, the only Fed member who voted against a decision at the last meeting to keep its policy unchanged. Evans again argued for interest rates to be tied to improvement in unemployment unless inflation rises above 3%. "There is simply too much at stake for us to be excessively complacent while the economy is in such dire shape," Evans said. The Fed is actively debating how it communicates.
SuccessFactors' surge lead tech gainsDecember 5, 2011
Tech stocks mostly rose in early trading Monday, with SuccessFactors Inc. SFSF +51.22% shares surging more than 50% to $39.72. SuccessFactors' gain was stoked by SAP AG SAP -0.74% saying over the weekend that it would acquire the workforce-management performance software company for $3.4 billion, or $40 a share. Other gains came from Western Digital Corp. WDC +3.47% , eBay Inc. EBAY +3.78% , Dell Inc. DELL +1.21% and Apple Inc. AAPL +1.33% . The Nasdaq Composite Index COMP +1.26% rose 27 points to 2,653.
EU summit, Italy budget in the spotlightDecember 5, 2011
Indications: U.S. futures gain on hope for Europe progress
U.S. stock futures tracked gains for European markets, with investors hoping for progress on the euro-zone debt crisis this week.
Indications
Europe Markets: Europe stocks rise on euro-zone optimism
European stocks rose on Monday, as Italy’s government adopted new budgetary measures, and as investors awaited a meeting between the German and French leaders.
Europe Markets
London Markets: U.K. stocks rise, led higher by banks
British stocks traded higher on Monday, with banks posting early gains as the Italian government agreed on a new package of budgetary measures and the French and German leaders met for EU talks.
London Markets
Asia Markets: Asia stocks start week mostly higher
Asian shares traded mostly higher as investors hoped for progress in curbing Europe’s debt crisis.
Asia Markets
Currencies: Euro edges higher as Merkel, Sarkozy meet
The euro edged higher versus the dollar as investors awaited the outcome of a meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel, kicking off a crucial week for the euro zone that ends Friday with a closely-watched summit of European leaders.
Jobless rate falls to over 2-year low of 8.6%December 2, 2011
The U.S. economy created 120,000 jobs in November and the unemployment rate fell to 8.6%, its lowest level in more than two and a half years, the Labor Department said Friday.
EURUSDDecember 2, 2011
EURUSD keeps making lower lows on the session.
GBPUSDDecember 2, 2011
Striking, lower lows on the session.
ECONX DATADecember 2, 2011
U.S. economy adds 120,000 jobs in November.
U.S. unemployment rate falls to 8.6% from 9.0% .
Size of U.S. labor force declines by 315,000.
October job gains revised up to 100,000.
Average hourly earnings fall 0.1% to $23.18.
Private-sector employment up 140,000 last month.
U.S. unemployment rate falls to 8.6% from 9.0%.
U.S. jobs report for NovemberDecember 2, 2011
The government will issue the monthly report on U.S. employment at 8:30am ET.
U.S. car makers post strong November salesDecember 1, 2011
U.S. car makers reported a surprisingly strong month of sales today with trucks boosting General Motors and Chrysler enjoying its best November since 2007.
IMF to meet Monday on Greek financingDecember 1, 2011
International Monetary Fund officials will meet Monday to discuss Greece's efforts to stem its debt crisis, as concerns about the euro zone persist.
Fund spokesman Gerry Rice told reporters that the fund's board will meet Monday to discuss the IMF's latest review of Greek efforts to implement economic and structural reforms. The review is key to whether Greece receives a sixth installment of bailout funds.
The IMF's goals for Greece have not changed, Rice said, insisting that the pain of austerity measures being instituted by Greek officials should be felt across socio-economic lines, including the most wealthy.
The euro-area's woes continue as the global economic flashpoint, forcing major central banks to move Wednesday to ease liquidity strains by facilitating U.S. dollar loans to European banks. Rice said the IMF welcomed the actions, which are in part intended to give officials in Europe more time to resolve the region's debt crisis.
A number of euro-area officials in recent days have sought to increase pressure on the IMF to take a broader role in helping resolve the area's problems. One idea that has been floated would have the European Central Bank lend money to the IMF, which in turn could offer financing to struggling countries. Rice said such an approach would be legal--central banks are allowed to lend to the fund--but that there are no ongoing discussions about the matter.
Additionally, he reiterated comments made by the fund earlier in the week that there are no ongoing talks with Italian officials about any sort of IMF financing.
Rice also highlighted the troubles facing the global economy. The IMF is likely to revise down its economic forecasts when it next reviews the global outlook, he said, suggesting that "downside risks" continue to grow.
U.S. stock indexes in moderate retreat after rallyDecember 1, 2011
U.S. stocks on Thursday slid moderately after the prior day’s rally as investors took a wait-and-see attitude ahead of Friday’s monthly jobs report.
U.S. stocks fall with financials in the leadDecember 1, 2011
U.S. stocks fell Thursday, with financials leading the retreat following the prior day's rally, after the government reported U.S. initial jobless claims rose above 400,000 last week after three weeks below that level. The Dow Jones Industrial Average DJIA -0.14% fell 36.06 points to 12,009.62. The S&P 500 SPX +0.06% declined 3.88 points to 1,243.08. The Nasdaq Composite COMP +0.28% shed 5.54 points to 2,614.80.
Coming up: November ISM manufacturing gaugeDecember 1, 2011
The key Institute for Supply Management's manufacturing gauge is due for release at 10:00am ET.
ECONX DATADecember 1, 2011
U.S. jobless claims rise to 402,000 from 396,000.
Continuiing claims climb 35,000 to 3.74 million.
Coming up: Weekly jobless claimsDecember 1, 2011
U.S. Labor Department is set to release weekly jobless claims at 8:30AM ET.
TECHXNovember 30, 2011
Market View: SPY, DIA, QQQ all tick to new pullback/afternoon low prints in recent trade; QQQ +2.92% the weakest of the group.
GMCR Green Mtn Coffee: Sales ramping with holiday- Canaccord GenuityNovember 30, 2011
Canaccord Genuity expects several years of rapid growth for GMCR, driven by rising penetration of Keurig single-cup coffee makers in coffee-drinking households that should drive higher revenue growth and even higher rates of earnings growth as the margin story unfolds. Firm says early season sales appear stronger than prior years despite no real price promotion. In years past, sales built throughout the holidays, and there is ample inventory this year.
ECONX DATANovember 30, 2011
September Pending Home Sales +10.4% vs +0.1%
ECONX DATANovember 30, 2011
November Chicago PMI 62.6 vs 57.5
GBPUSDNovember 30, 2011
Higher highs
ECONX DATANovember 30, 2011
Q3 Productivity- revised +2.3% vs +2.6%.
Q3 Unit Labor Costs -2.5% vs -2.1%.
ECONX DATANovember 30, 2011
November ADP Employment Change 206K vs 125K
Global banks act to strengthen dollar swap linesNovember 30, 2011
Global central banks announced today that they are acting to strengthen the existing swap lines that allow them to provide dollars to domestic banks in an effort to ease financial market tension
ECONX November 29, 2011
Fed's Lockhart says he is skeptical more bond buying will help economy; does not blelieve it is a potent policy.
ECONX DATANovember 29, 2011
November Consumer Confidence 56.0 vs 42.5
Retailers' weekly sales best since JulyNovember 29, 2011
Chain-store sales for week ended Nov 26 rose 4% from 2010, the strongest percentage gain since July 30 according to a data released today by the International Council of Shopping Centers and Goldman Sachs.
November consumer confidenceNovember 29, 2011
Data on consumer confidence for November due at 10:00am ET from the Conference Board.
WRAPX S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: -2.30November 29, 2011
Commodities are somewhat mixed this morning, resulting in an incremental gain for the CRB Index. Natural gas prices were pressured in the prior session, but they are up a robust 1.6% to $3.58 per MMBtu this morning. Oil prices are up a solid 0.6% to $98.75 per barrel. Among precious metals, gold prices are down 0.2% to $1708 per ounce, while silver prices are down a much deeper 1.5% to $31.69 per ounce. In the backdrop, the dollar is now flat after it had been down against a collection of competing currencies earlier this morning.
ECONX DATANovember 29, 2011
Sep. Case-Shiller 20-city Index -3.6% vs. -3.0%
Money found in UKNovember 29, 2011
Nearly $200 million believed to belong to clients of bankrupt trading firm MF Global has apparently been found at J.P. Morgan Chase & Co. in the U.K.
Earnings CalendarNovember 28, 2011
Today after the close CPRT, HI, and TAOM are scheduled to report.
Tomorrow before the open BECN and TIF are scheduled to report.
Consumer debtNovember 28, 2011
Consumer debt declined slightly during Q3 as Americans continued to deleverage in the wake of the housing crisis, according to the NY Fed.
ECONX DATANovember 28, 2011
October New Home Sales 307K vs 312K
New U.S. home sales for OctoberNovember 28, 2011
October report on new-home sales will be issued at 10:00am ET by the U.S. Commerce Department.
TECHXNovember 28, 2011
SPX (SPY) & NDX (QQQ) Index Pivot Point Table Using A Combination Of Daily, Weekly, & Monthly H, L, & C Levels- Look for confluences for even stronger levels of support & resistance in play today.
SPY November 22, 2011
S&P -7.4 flirts with yesterday's low and the 50% retrace of the Oct surge at 1183 -- session low 1184.17
Obama lobbies for payroll tax extensionNovember 22, 2011
Obama is due to deliver a speech in New Hampshire to push for a component of his jobs plan that would see a three percentage point reduction in employee payroll taxes, and wants employers to also get a three-point payroll tax deduction.
Nasdaq Comp -2.1 joins Dow -31 and S&P -2 back in the redNovember 22, 2011
S&P needs to hold above the opening low at 1188 to form a more constructive higher low pattern (recently hit 1189 and lifted).
FDIC: Number of 'problem banks' fallNovember 22, 2011
The number of institutions on the Federal Deposit Insurance Corp.'s problem list in Q3 2011 declined for the second quarter in a row and the industry posted its ninth-straight profitable quarter.
Weaker Inventories Drive Second Estimate for Q3 GDP LowerNovember 22, 2011
GDP in the third quarter was revised down from 2.5% in the advance release to 2.0% in the second estimate. That is still up from 1.3% in the second quarter. The Briefing.com consensus expected GDP to remain at 2.5%. Real final sales, which exclude inventories, remained at 3.6%. That means that the entire negative revision to GDP was due to discrepancies in inventory flows. As we noted in our preview, the BEA overestimated inventories in September by substantial amounts. This included an estimated 0.9% increase in merchant wholesaler inventories in September when they actually declined 0.1%. Using the latest inventory data, inventories actually declined by $8.5 bln. That was a marked departure from the $5.4 bln gain in the advance estimate. The revisions subtracted an additional 0.48 percentage points from the advance estimate. Personal consumption and fixed investment were also revised down, but the revisions were modest. Consumption increased 2.3% in the third quarter, down from 2.4%. Fixed investment increased 12.3%, down from 13.7%. The declines in consumption and fixed investment, however, were completely offset by stronger net export levels. The net export deficit was revised down, from -$409.4 bln to -$400.7 bln. This added an additional 0.27 percentage points to GDP. Government spending was essentially unchanged in the second estimate.
ECONX DATANovember 22, 2011
ECONX Q3 GDP- Second Estimate +2.0% vs +2.5%
ECONX Q3 GDP Deflator- Second Estimate +2.5% vs +2.5%
SPY November 21, 2011
Stock indices flirting with midday rebound attempt highs -- Dow -284, S&P -26, Nasdaq Comp -54
ECONX DATANovember 21, 2011
October Existing Home Sales 4.97 mln vs 4.85 mln
S&P -21 and Nasdaq Comp -47 extend to third level support zonesNovember 21, 2011
The aggressive retreat off the open has plowed through a variety of supports with the latest extension leaving the S&P and Nasdaq Comp just above third level supports at 2519/2512 (Nasdaq Comp session low 2523) and 1191/1190 (S&P session low 1193).
October existing home salesNovember 21, 2011
National Association of Realtors is due to report existing home sales at 10:00am ET.
WRAPX S&P futures vs fair value: -15.10. Nasdaq futures vs fair value: -24.00.November 21, 2011
Soured sentiment among global participants has permeated commodity pits. That has the CRB Commodity Index down by 0.5%. Crude oil prices have been clipped by 1.3% so that they now trade at $96.40 per barrel. Natural gas prices are down a less significant 0.2% to $3.50 per MMBtu. A stronger greenback has prevented many from seeking safety in precious metals. In turn, gold prices are down 0.7% to $1713 per ounce while silver prices trade at $31.30 per ounce for a 3.4% loss.
ECONX DATANovember 18, 2011
October Leading Indicators +0.9% vs +0.6%
October leading indicatorsNovember 18, 2011
Leading economic indicators for October is due for release at 10:00am ET from the Conference Board.
$600 millionNovember 18, 2011
Regulators have discovered MF Global Holdings Ltd. shifted hundreds of millions of dollars of customer funds to its own brokerage accounts days before its bankruptcy filing on Oct. 31.
S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +11.70.November 18, 2011
A verbal push by European Central Bank President Draghi to make progress in the completion and implementation of bailout plans alongside the stabilization of yields on the debt of trouble spots Spain and Italy have helped improve the mood among market participants abroad. In turn, Europe's bourses recently worked their way higher, but the move is beginning to be challenged. Still, Germany's DAX is up 0.2% after it had been down markedly earlier in its session. Deutsche Boerse has been primary source of support -- the stock is up more than 5%. According to Germany's latest data, producer prices in October were up 5.3%, which is slightly less than the 5.5% increase that had been reported for the same period one year ago. France's CAC is currently flat after it had been down about 1% at its session low. Vivendi and Suez Environnement remain sources of strength. Financial outfits BNP Paribas, Societe Generale, and Credit Agricole are dragging on trade, however. Britain's FTSE is currently off by 0.6%. Capita Group and Fresnillo Plc have been sources of weakness, offsetting strength in names like Man Group and Smith & Nephew.
Asia's major averages mostly moved lower overnight. The pressure left Japan's Nikkei to suffer a 1.2% loss. Olympus led the slide as participants turned on the stock after it had displayed strength in recent sessions. The stock is still up from the multi-year low that it set last week. Hong Kong's Hang Seng shed 1.7%. Financial issues and property plays led that slide. Their weakness came amid data that indicate average property prices in many of China's cities were pressured in October. The decline in property prices comes well after officials in China had begun efforts to temper rising real estate prices. Property-related components of China's Shanghai Composite also traded with weakness, playing a part in the Composite's 1.9% decline.
TECHX SPXNovember 18, 2011
(SPY) & NDX (QQQ) Index Pivot Point Table Using A Combination Of Daily, Weekly, & Monthly H, L, & C Levels- Look for confluences for even stronger levels of support & resistance in play today
WRAPX S&P futures vs fair value: +9.60. Nasdaq futures vs fair value: +10.00.November 18, 2011
Improved sentiment in Europe, where the region's major bourses are bouncing after suffering a series of sizable losses, is helping to prop up stock futures. The euro is also up nicely against the greenback, but the foreign currency still enters Friday facing a weekly loss in excess of 1%. The action across the Atlantic comes amid comments from the European Central Bank head that urged governments there to progress toward the completion and implementation of rescue funds. Yields on debt are also easing. Data is limited to monthly leading indicators at 10:00 AM ET, making for a light economic calendar after a bevy of reports earlier this week. While the lack of data may limit some trading, the expiration of monthly options is likely to invite more action.
QQQNovember 17, 2011
QQQ leaders & laggards into the final hour: FSLR, LINTA, DLTR, DTV, CTRP, & VOD advance in a weaker tape; NTAP -12% on heavy vol. post earnings; AMAT, MRVL, BRCM, LRCX, MU, BIDU, & FLEX among the weakest performers; NASDAQ TRIN bearish @ 1.70; NASDAQ A/D -2:1
YMNovember 17, 2011
Nice run higher on YM.
ECONX DATANovember 17, 2011
ECONX November Philadelphia Fed 3.6 vs 7.5
Philly Fed November 17, 2011
Philadelphia Fed manufacturing survey is due for release at 10:00am ET
ECONX DATANovember 17, 2011
ECONX Initial Jobless Claims 388K vs 398K
ECONX October Building Permits 653K vs 603K
ECONX October Housing Starts 628K vs 604K
ECONX Continuing Claims falls to 3.608 mln from 3.665 mln
AAPL Apple ests cut at Oppenheimer to build in more cautious iPad rampNovember 17, 2011
Oppenheimer notes that AAPL remains dominant in the tablet market, but they're cutting EPS estimates somewhat to build in a more cautious iPad ramp better reflecting product cycles, macro headwinds and rising competition (cuts their iPad estimates by 2 mln for the Dec qtr; cuts 2012 EPS est to $34.64 from $35.87, vs. $34.65 consensus). Firm says AMZN's Fire is offsetting their iPad cuts in the overall tablet forecast and represents the first real threat with a differentiated value proposition. The fight for the incremental tablet user is now tougher and they believe Apple could go mid-tier to support long-term growth.
Gold futuresNovember 17, 2011
Gold futures slide 1.5% in morning trade
Coming upNovember 17, 2011
U.S. government will release reports on jobless claims and new housing starts at 8:30am ET.
QQQNovember 16, 2011
QQQ leaders & laggards @ midday: GMCR +6.9% squeezing shorts; MU, ADSK, JOYG, SNDK, RIMM, EXPE, & MXIM outperform; CTRP, NFLX, WCRX, FLEX, DELL, ILMN, CHKP, STX, & MAT pace the decliners; NASDAQ TRIN neutral @ 0.90; NASDAQ A/D -1.5:1
Psychiatric drug use November 16, 2011
According to a survey, Americans are taking drugs to treat psychiatric or behavorial disorders at record levels with more than one in five adults using them last year.
SEC charged Morgan StanleyNovember 16, 2011
SEC charged Morgan Stanley Investment Management with violations of securities laws for its scheme that charged a fund and its investors for advisory services they never got.
SEC November 16, 2011
SEC charges Morgan Stanley unit for improper fees
YMNovember 16, 2011
Nice move to the upside
Euro breakup fearsNovember 16, 2011
Even super-secure, triple-A rated Germany could see its borrowing costs rise if investors become more attuned to the risk of a euro breakup
ECONX DATANovember 16, 2011
ECONX October Capacity Utilization 77.8% vs 77.7%
ECONX October Industrial Production +0.7% vs +0.4%
ECONX DATANovember 16, 2011
ECONX October Core CPI M/M +0.1% vs +0.1%
ECONX October CPI M/M -0.1% vs 0.0%
ECONX October Headline CPI Y/Y +3.5%; Core CPI Y/Y +2.1%
SPYNovember 15, 2011
S&P +11 joins Nasdaq Comp +35 at new session high, Dow +72 approaching its high
Fannie-Freddie executive pay November 15, 2011
Defending multimillion-dollar executive pay packages at Fannie Mae and Freddie Mac, the nation’s top housing regulator on Tuesday warned that big cuts in pay could spur employee turnover, weaken recruitment efforts, and lead to higher costs for taxpayers. Democrats and Republicans on the panel both complained that the two the government-seized mortgage firms are using public funds for huge compensation packages.
SPY S&P +8.8 sets new session highNovember 15, 2011
Noted first level support in The Technical Take and the 09:55 update at 1246/1245. The late morning extension slightly penetrated (session low 1244.35) but it has run steadily higher over the last two hours to reach first level resistance at 1260/1261 (session high 1260.85). The action has also been encouraging in terms of potentially ending the three week consolidation (triangle, see 12:48 for chart) but the index may be near the completion of the first thrust off the low.
ECONX DATANovember 15, 2011
September Business Inventories 0.0% vs +0.2%
Treasurys gainNovember 15, 2011
Treasury prices rose this morning, pushing 10-year yields back under 2% as yields on more European countries rose as investors dumped the securities due to continuing uncertainty about the euro zone.
Sandusky admits kid contactNovember 15, 2011
Sandusky said that he has showered with children and embraced them but that he isn’t guilty of the charges against him.
ECONX DATANovember 15, 2011
ECONX November Empire Manufacturing +0.60 vs -0.8
ECONX October PPI -0.3% vs -0.2%
ECONX October Retail Sales ex-auto +0.6% vs +0.2%
ECONX October Retail Sales +0.5% vs +0.4%
Retail sales, PPI, Empire StateNovember 15, 2011
U.S. retail sales, wholesale prices and manufacturing in the New York region will be released at 8:30 am ET
Berkshire November 14, 2011
Warren Buffett, chairman and CEO of Berkshire Hathaway Inc., said today that his firm now owns a $10.7 billion, or roughly 5.4% stake, in International Business Machines Corp.
WRAPX Commodities Update: Strong Dollar Weighs on CommoditiesNovember 14, 2011
The dollar index is showing some strength this morning and is back near previously hit session highs, which is weighing on commodities this morning.
Crude oil futures have been in the red all session and hit a new session low of $97.20/barrel. In current activity, crude is down 1.5% at $97.47/barrel. Natural gas futures are down 2.3% at $3.61/MMBtu. Copper is trading 1.5% higher at $3.51/lb, while the rest of the metals complex is trading lower.
Gold fell as low as $1774.80/oz earlier in the session and is now down 0.5% at $1779.70/oz. Silver is showing a similar pattern to gold this morning and is currently 1.3% lower at $34.25/oz. Platinum is down just 0.2% at $1643.90/oz.
WRAPX S&P futures vs fair value: -4.20. Nasdaq futures vs fair value: -7.50.November 14, 2011
Reflecting the market's fickleness, the risk on-risk off trade continues as participants track action in Europe, where many of the region's major bourses are down in excess of 1%. Little encouragement has been taken from news that Italy approved additional austerity measures during the weekend then held another successful debt offering this morning. Earnings haven't been all that exciting this morning. Only a handful of names are out this morning, but both Lowe's (LOW pre-market: 23.20, +0.09) and J.C. Penney (JCP pre-market: 33.95, +0.03) posted upside surprises. Lowe's issued a relatively mixed outlook, while J.C. Penney issued downside guidance. Shares of both companies are up narrowly ahead of the open. The economic calendar is empty today.
November UMich consumer sentimentNovember 11, 2011
A gauge of consumer sentiment rose to 64.2 in the preliminary reading for November, compared with a final October reading of 60.9.
ECONX DATANovember 11, 2011
November Michigan Sentiment- prelim 64.2 vs 61.3
November consumer sentimentNovember 11, 2011
Consumer sentiment for November are due for release at 9:55AM ET
WRAPX S&P futures vs fair value: +12.80. Nasdaq futures vs fair value: +14.50.November 11, 2011
Although trade in Europe is still sensitive to headline risk, sentiment there continues to strengthen. That has helped trim yields on Italy's debt. The country continues to move forward with its efforts to shore up fiscal and financial conditions, most recently with the country's Senate approving a new austerity plan. Italy's MIB is currently up 1.9%. Meanwhile, Germany's DAX is boasting a 2.0% gain with help from Allianz, which is up nicely in the wake of its latest quarterly report. France's CAC has climbed to a 1.4% gain. Britain's FTSE is now up 1.0% amid strength in financial issues, namely Schroders, Lloyds Group (pre-market: LYG 1.73, +0.00), and Royal Bank of Scotland (pre-market: RBS 7.05, +0.23). As for data, PPI output in the United Kingdom was flat during October after it had increased by 0.3% in the prior month.
Overnight action in Asia took Japan's Nikkei just 0.2% higher. Dowa Holdings, Pioneer Corp., and Yokogawa Electric provided positive leadership, while Olympus continued its descent. Tokyo Dome and Sumco Corp. were also weak. Hong Kong's Hang Seng advanced 0.9%. Mainland China's Shanghai Composite eked out a narrow gain as bank stocks like Agricultural Bank of China and ICBC staged strong gains.
Italy Senate November 11, 2011
Italy's Senate today approved a budget law that includes new austerity measures, clearing the way for the parliament's lower chamber to pass the legislation on Saturday.
Earnings CalendarNovember 10, 2011
Today after the close look for the following companies to report:
MATW, SREV, MSCC, BRKS, COGO, BORN, DIS, HMIN, TPCG, WX, ZGNX, AL, ANAC, BODY, DAR, HOKU, JWN, KIOR, MCP, NVDA, RENN, GOK, SSRX, LDK, ACTV.
Tomorrow before the open look for the following companies to report:
DHI, BAM
YM and NQNovember 10, 2011
Very nice slow drift lower
30-year mortgage rate November 10, 2011
30-year fixed-rate mortgage fell to 3.99% in the week ending Nov. 10
WRAPX S&P futures vs fair value: +16.30. Nasdaq futures vs fair value: +24.50.November 10, 2011
Stocks sold off in the prior session, but the sentiment switch has since turned to positive. The improved mood among market participants comes as traders track the action in Europe, where the region's major bourses have bounced to strong gains. The move there comes amid a successful debt offering by Italy, which has seen the yields on its debt ease lower to slightly less alarming levels. Headlines also suggest Greece has named Lucas Papademos to the position of prime minister. Buying interest in the euro has also picked up, giving it a 0.7% gain against the greenback after it dove about 2% in the prior session. So far the economic calendar has featured a modest decline in weekly initial jobless claims and a downturn in the monthly trade deficit. The Treasury Budget isn't due until 2:00 PM ET.
DATANovember 10, 2011
Gapping up/down: CSCO +6.0% and SI +3.6% following earnings; GMCR -29.4% and PEGA -16.7% following earnings
Gapping up
In reaction to strong earnings/guidance: FTK +9.2%, XIN +6.3%, CSCO +6%, ENS +4.3%, CJES +4.1%, SI +3.6%, AEG +3.1%, MPEL +2.8%, CGA +2.5%, .
Select financial related names showing strength: DB +5.2%, ING +4.8%, CS +4.3%, BCS +3.5%, LYG +3.5%, UBS +2.8%, BAC +1.9%.
Other news: SNTA +6.5% (reports results show Ganetespib sensitizes rectal cancer cells to Chemoradiotherapy), NOK +3.6% (still checking), SNY +1.7% (report positive preliminary Phase 2 program results for anti-PCSK9 antibody in hypercholesterolemia), HOS +0.3% (aprices 7 mln shares of common stock at $30 per share).
Analyst comments: ENS +4.3% (upgraded to Buy from Neutral at Mizuho) VRTX +2.6% (upgraded to Equal Weight from Underweight at Morgan Stanley).
Gapping down
In reaction to disappointing earnings/guidance: GMCR -29.4%, PEGA -16.7%, OPNT -9.6%, KLIC -7.1%.
Analyst comments: PKY -4.3% (downgraded to at ), LII -2.6% (downgraded to Neutral from Buy at Suntrust).
ECONX DATANovember 10, 2011
October Export Prices ex-ag -1.5%; Prior +0.3%
Initial Claims 390K vs 400K
Continuing Claims falls to 3.615 mln from 3.683 mln
September Trade Balance -$43.1 bln vs -$45.9 bln
October Import Prices ex-oil -0.2%; Prior; +0.2%
Adobe pulls plug on FlashNovember 9, 2011
Shares of Adobe Systems tumbled by 7% mid-day after the software maker unveiled several changes to its strategy, which includes a large round of job cuts as well as a plan to stop development of its Flash player software for mobile devices.
SPY S&P -27 range trading slightly under morning bounce highNovember 9, 2011
Some upticks for the S&P after aggressive first hour slide. A posture above intraday supports at 1248 and 1245 during the current lateral drift (right now at 1248.85) below the rebound high (1251) would keep the door open to another recovery attempt.
Paterno commentsNovember 9, 2011
'This is a tragedy'; 'I wish I had done more'; 'devastated' by developments
Paterno November 9, 2011
Paterno to retire at end of season
ECONX DATANovember 9, 2011
September Wholesale Inventories -0.1% vs +0.5% Briefing.com consensus.
WRAPX Market Update: Stocks Slump in Opening MinutesNovember 9, 2011
Stocks are down sharply in the first few minutes of trade. The drop has completely erased the gains that the market had acheived during the course of the past two sessions... Weakness is widespread with more than 90% of S&P 500 components in the red, but financials and energy stocks are generally in the worst shape -- both sectors are down in excess of 3%. Even defensive-oriented plays like telecom and utilities have been unable to keep their losses from exceeding 1%. Dow -2.2%, S&P 500 -2.4%, Nasdaq -2.4%
Supercommittee November 9, 2011
Can the U.S. Supercommittee deliver its orders to recommend a set of proposed spending cuts and revenue increases totaling $1.2 trillion over the next 10 years?
Bernanke November 9, 2011
Making opening remarks to Fed conference but will not discuss rate policy in speech.
WRAPX S&P futures vs fair value: -27.80. Nasdaq futures vs fair value: -44.50.November 9, 2011
The CRB Commodity Index is currently down 0.7% as many of its components come under pressure. Oil prices are down 1.4% to $95.45 per barrel in the first few minutes of pit trade. The action precedes the latest weekly inventory report, which will be released at 10:30 AM ET. Elsewhere in the energy complex, natural gas prices are down 1.2% to $3.80 per MMBtu. As for precious metals, gold prices are fractionally lower at $1797 per ounce, while silver prices are off by 0.9% at $34.85 per ounce. Trade for grains has yet to open, but the action therein will likely be based partly on the November WASDE report. Updated production estimates have taken down expected domestic wheat supplies for 2011-2012 by 9 million bushels. Corn projections were trimmed by 123 million bushels.
Italy flailsNovember 9, 2011
Treasury prices jumped today, pushing yields down by the most in a week, as a deep sell-off in Italian bonds raised concerns that Europe’s third largest economy will need a bailout.
COMDX November 9, 2011
Gold turns positive following the open of pit trade, rallying over 20 points off of overnight lows; now up 10 cents at $1799.30.
SPY S&P +2.5 pullback holds at short term retracementNovember 8, 2011
The index extended the initial headline related dip but has held at support at the 38% retrace of the rally off yesterday's midday low and Monday's peak at 1259 (session low 1259) with some upticks noted. Watching 1266 for a read on the underlying strength of this intraday recovery attempt (recently hit 1264).
Berlusconi November 8, 2011
Berlusconi loses parliamentary majority
September job openingsNovember 8, 2011
Job openings at U.S. workplaces rose to 3.35 million in September from 3.13 million in August, the Labor Department reported.
USDCHFNovember 8, 2011
Plummeting
Berlusconi ally withdraws supportNovember 8, 2011
A key ally of Silvio Berlusconi withdrew his support for Italy's embattled prime minister and urged him to step down ahead of a key budget vote.
WRAPX S&P futures vs fair value: +8.70. Nasdaq futures vs fair value: +23.20.November 8, 2011
Consistent with the action of the past several weeks, stock futures are tracking trade in Europe, where the region's major bourses are up sharply amid speculation that Italy's prime minister may be unable to maintain his post, given his challenges in implementing measures necessary to improve the country's precarious fiscal and financial conditions. Concerns about those conditions continue to take yields on Italian debt to new heights -- the yield on its 10-year Note recently hit 6.75% before pulling back some. As for Greece, the country is expected to announce a new prime minister sometime today. Former Prime Minister Papandreou stepped down from his post this past weekend. On the corporate front, droves of earnings results continue to come across news wires, but there haven't been any blue chips or bellwethers in the bunch. That has generally made the lot of secondary concern. No economic items of consequence are scheduled for today. Results from an auction of 3-year Notes will be released at 1:00 PM ET.
EU should shelve trading taxNovember 8, 2011
U.K. Chancellor of the Exchequer George Osborne called for European Union to shelve its plans for a tax on financial transactions, saying it would hurt competitiveness and result in business leaving Europe.
SCANX Notable movers of interestNovember 7, 2011
The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).
Large Cap Gainers
AMGN (57.87 +4.8%): Disclosed plan to launch modified Dutch auction tender offer to purchase up to $5 bln of its common stock.
DISH (24.36 +3.7%): Reported Q3 earnings of $0.71 per share, revenues rose 12.3% year/year to $3.6 bln vs the $3.62 bln consensus.
GG (53.46 +3.4%): Traded higher as gold prices near $1800/ounce (GFI, KGC).
Large Cap Losers
ING (7.88 -5.5%): Downgraded to Hold from Buy at Societe Generale.
DOV (54.92 -3.4%): Announced that it has acquired Advansor A/S.
Mid Cap Gainers
HMSY (28.5 +13.4%): Co now sees adjusted FY11 EPS of $0.67 (current consensus is $0.60).
CDE (29.29 +7.4%): Beat on the top and bottom lines.
VRUS (71.47 +3.7%): Presented yesterday at AASLD meeting.
Mid Cap Losers
PANL (45.99 -11.5%): Move attributed to cautious analyst comments ahead of tomorrow's earnings.
ALU (2.08 -9.5%): Downgraded to Sell from Reduce at WestLB, downgraded to Sell from Neutral at Citigroup.
CCJ (19.72 -8.0%): Missed by $0.06, missed on revs.
FOREX Dollar index pushing higherNovember 7, 2011
EURUSD -35 pips @ 1.3755
GBPUSD -10 pips @ 1.6020
USDJPY -20 pips @ 78.00
USDCHF +145 pips @ .8990
AUDUSD -35 pips @ 1.0340
USDCAD -20 pis @ 1.0165
EURUSDNovember 7, 2011
tumbling lower
YM and NQNovember 7, 2011
drifting lower
WRAPX S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -3.30.November 7, 2011
Stock futures are up from their morning lows. They now point to a flat to slightly lower start for the session. The generally lackluster tone ahead of the open comes as market participants monitor the events of Europe, where most of the region's major bourses are down modestly amid news that Greece's prime minister has stepped down from his post, leaving officials there to establish a unified political front while simultaneously wrestling with moribund economic and financial conditions. In a similar vein, concern over the health of Italy's finances has called into question the future of Italy's prime minister.
FXE CNBCNovember 4, 2011
Citing DJ, reports that a Sr Greek Socialist lawmaker signals support for the govt.
SPY Fresh session lows for stock indicesNovember 4, 2011
Dow -115, S&P -13.5, Nasdaq Comp -27 -Update- -Technical - Uniform push lower across virtually all sector averages. Minor support for the S&P is at 1246 in front of the 1242/1240 zone (session low 1246.91).
ECONX DATANovember 4, 2011
October Nonfarm Private Payrolls 104K vs 117K.
October Nonfarm Payrolls 80K vs 85K.
October Unemployment Rate 9.0% vs 9.1%.
August Nonfarm Payrolls revised to 104K from 57K.
October Hourly Earnings +0.2% vs +0.2%.
ECONX DATANovember 3, 2011
Headlines crossing that G-20 agrees to raise IMF resources according to sources.
ECONX Strong Petroleum Refineries Demand Lead to an Uptick in Factory Orders in SeptemberNovember 3, 2011
Factory orders increased 0.3% in September, up from 0.1% in August. The upward surprise in orders was mainly due to a 1.0% increase in total nondurable goods demand. That was the biggest increase in nondurable goods orders since March and was well above the previous three-month average (0.2%). The spike in nondurable orders was caused by a 4.2% increase in petroleum refinery products. Excluding petroleum refineries, nondurable goods orders actually fell 0.1% in September. Durable goods orders were revised up modestly (to -0.6% from -0.8%) but still dragged on overall order levels. Excluding transportation, factory orders increased 1.3% in September after falling 0.1% in August. Orders of capital goods excluding aircraft were revised higher (to 2.9% from 2.4%) in September. Shipments, which factor into third quarter GDP, were unchanged at -0.9%.
ECONX DATANovember 3, 2011
October ISM Services 52.9 vs 53.9
September Factory Orders +0.3% vs -0.2%
DraghiNovember 3, 2011
Sees 'very moderate' growth in second half; Inflation elevated but will drop in 2012
ECB President DraghiNovember 3, 2011
ECB President Draghi's press conference begins; Inflation elevated but will drop in 2012; Downside economic risks are materializing
ECBNovember 3, 2011
European Central Bank cuts key lending rate by quarter point to 1.25%
ECONX DATANovember 3, 2011
Q3 Unit Labor Costs- prelim -2.4% vs -1.1%.
Initial Claims 397K vs 401K.
Q3 Unit Labor Costs- prelim -2.4% vs -1.1%.
Continuing Claims falls to 3.683 mln from 3.698 mln
.
ECONX DATANovember 3, 2011
Initial Claims, Continuing Claims, Productivity-Prel, Unit Labor Costs -Prel due out in ~15 mins at 8:30 ET.
ECONX FOMC leaves target at 0.00-0.25%; Fed to continue its program to extend the average maturity of its holdings of securities as announced in SeptemberNovember 2, 2011
Information received since the Federal Open Market Committee met in September indicates that economic growth strengthened somewhat in the third quarter, reflecting in part a reversal of the temporary factors that had weighed on growth earlier in the year. Nonetheless, recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated. Household spending has increased at a somewhat faster pace in recent months. Business investment in equipment and software has continued to expand, but investment in nonresidential structures is still weak, and the housing sector remains depressed. Inflation appears to have moderated since earlier in the year as prices of energy and some commodities have declined from their peaks. Longer-term inflation expectations have remained stable. Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee continues to expect a moderate pace of economic growth over coming quarters and consequently anticipates that the unemployment rate will decline only gradually toward levels that the Committee judges to be consistent with its dual mandate. Moreover, there are significant downside risks to the economic outlook, including strains in global financial markets. The Committee also anticipates that inflation will settle, over coming quarters, at levels at or below those consistent with the Committee's dual mandate as the effects of past energy and other commodity price increases dissipate further. However, the Committee will continue to pay close attention to the evolution of inflation and inflation expectations. To support a stronger economic recovery and to help ensure that inflation, over time, is at levels consistent with the dual mandate, the Committee decided today to continue its program to extend the average maturity of its holdings of securities as announced in September. The Committee is maintaining its existing policies of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee will regularly review the size and composition of its securities holdings and is prepared to adjust those holdings as appropriate. The Committee also decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013. The Committee will continue to assess the economic outlook in light of incoming information and is prepared to employ its tools to promote a stronger economic recovery in a context of price stability. Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Richard W. Fisher; Narayana Kocherlakota; Charles I. Plosser; Sarah Bloom Raskin; Daniel K. Tarullo; and Janet L. Yellen. Voting against the action was Charles L. Evans, who supported additional policy accommodation at this time.
CF Industries conf. call summary November 2, 2011
Co on earnings conf. call said corn economics are very attractive; CF expects that U.S. corn planting will be more than 93 mln next spring. Co noted that ammonia selling prices were 40% higher YoY to $552/ton. Co notes that tight grain ending stocks are not just a U.S. theme... China and South America for example are seeing very low grain ending stocks. Co said that prior concerns of a late harvest, which would compress the fall application season, has been largely resolved. Despite some lagging areas, co said the harvest progressed faster than expected, which provided a good start to the fall application window for fertilizer.
During the quarter, CF did not import an UAN. Third quarter sales got a boost from the strong spring application season that was recently completed, which came as the U.S. has its second largest corn planting on record. Also , fertilizer application extended into July. Co noted in August that India had been delaying urea purchase and buyers continued to do this through September. Co thinks that the awareness that India will return to the market at some point is helping support urea prices.
DMNDNovember 2, 2011
DMND Wants it back.
SPY Solid push in early trade for stock indices -- Dow +143, S&P +16, Nasdaq Comp +24November 2, 2011
The stock indices have jumped higher off the open after two days of aggressive selling. Thus far they have retraced approximately 38% of the slide off Monday's afternoon rebound highs at 1236 S&P (high 1237), 2642 Nasdaq Comp (high 2640.56), 11812 Dow (high 11822) and paused.
ECONX DATANovember 2, 2011
October ADP Employment Change 110K vs 100K
SPYNovember 1, 2011
Stock indices slip further off first hour bounce highs -- Dow -280, S&P -33, Nasdaq Comp -71
ECONX DATANovember 1, 2011
Construction Spending +0.2% vs. +0.3%.
Oct. ISM 50.8 vs. 52.1.
NASDAQNovember 1, 2011
Naz down over 62 points
DOW downNovember 1, 2011
DOW in the red by over 260 points
WRAPX S&P futures vs fair value: -37.00. Nasdaq futures vs fair value: -53.30.November 1, 2011
Stocks are expected to slump at the open as participants respond to aggressive selling pressure in Europe, where contagion concerns have been revived amid reports that Greece may seek a referandum for the recently proposed bailout package and rising yields in Italy suggest that the country's precarious conditions have it on the edge of default. The dollar has been a home for safety seekers. On top of its prior session surge, the greenback is up well in excess of 1% against a basket of major foreign currencies. These themes have completely overshadowed the latest round of earnings results, which continue to generally exceed consensus estimates. Still on tap, though, are the monthly ISM Manufacturing Index and construction spending numbers, both of which are due at 10:00 AM ET. The FOMC also begins its two-day meeting today.
SPY S&P -18 and Nasdaq Comp -38 vacillating near retracementsOctober 31, 2011
The market faltered in opening trade and slightly extended follower weaker data (Chgo PMI) but as noted earlier they have held near the 38% retrace of last week's run (Tues-Thurs) at 1265 S&P (session low 1265) and 2694 Nasdaq Comp (session low 2694). However, only a limited uptick has been seen thus far with S&P upticks to/through 1271, 1274 (200 sma) and more important 1277 needed to improve the weaker price pattern off last week's high. Next support is at roughly 1258/1256 (June low, unch for the year, Oct 24 reaction high).
S&P futures vs fair value: -15.30. Nasdaq futures vs fair value: -23.50.October 31, 2011
Europe's major bourses are under pressure in the first session of a new week and the final session of October. Selling pressure comes after global market participants applauded the efforts of Europe's leaders to establish a comprehensive plan aimed at shoring up financial conditions in the continent. Germany's DAX is currently down 1.6%. Deutsche Bank (DB) and Commerzbank have been a couple of heavy drags on trade. France's CAC has fallen to a 1.5% loss. Financial outfits BNP Paribas, Societe Generale, and Credit Agricole are among the poorest performers in the CAC. Britain's FTSE is currently off by 1.1% as banking plays Royal Bank of Scotland (RBS) and Lloyds Group (LYG) are battered. Barclays (BCS) has also been hit by sellers in the wake of the firm's latest report. Metals and mining plays Xstrata, BHP Billiton (BHP), and Rio Tinto (RIO) are also under heavy pressure.
Overnight action in Asia took Japan's Nikkei down 0.7%. Honda Motor (HMC) was one of its worst performing components ahead of its quarterly report. Officials in Japan intervened in the yen so as to curb its recent climb. Hong Kong's Hang Seng fell to a loss of 0.8%. Real estate plays were weak, as were financial issues like Bank of China and China Construction Bank. Real estate issues also undermined mainland China's Shanghai Composite, which closed with a more modest loss of 0.2%.
YMOctober 31, 2011
Making lower lows on the session
EURUSDOctober 31, 2011
Plummeting
WRAPX Market Update: Stocks Slog Along in Mixed FashionOctober 28, 2011
Trade has been choppy and listless all session. The lackluster action comes as many market participants take a break after the prior session's surge... The broad market rallied more than 3% to a near three-month closing high yesterday. However, momentum from the move has slowed as participants rest on a weekly gain of almost 4%. Given that stocks have already booked three consecutive weekly gains, the S&P 500 is on pace for a monthly gain on the order of 13%, which would make for one of its best one-month showings on record.
Earnings continue to prove strong. Dow components Chevron (CVX 109.62, +0.65) and Merck (MRK 35.07, +0.76) were among the more notable names that reported this morning. Both firms bested expectations for the bottom line. However, Whirlpool (WHR 52.87, -7.60) shares have taken a dive in response to an earnings miss... Data hasn't had any real impact on today's trade. Participants shurgged off news of an incremental increase in personal income and an in-line increase in spending. The final September reading on consumer sentiment from the University of Michigan was revised sharply higher than had been anticipated.
Much like the equity market, the dollar hasn't done much at all today. It dropped precipitously in the prior session as traders pushed into the euro, responding to plans by the EU to shore up Europe's financial conditions... Despite the mixed action among stocks today, Treasuries have traded sharply higher. The action has the yield on the benchmark 10-year Note back at 2.30% after it had spiked to a two-month high near 2.40% in the prior session.
Dow unch., S&P 500 -0.2%, Nasdaq -0.3%, Nasdaq 100 -0.3%, S&P 400 -0.6%, Russell 2000 -0.2%
MF MF Global:October 28, 2011
CNBC, quoting WSJ, says that Goldman (GS), State Street (STT) and Macquarie are eyeing MF.
ECONX Consumer Sentiment Moves Higher in OctoberOctober 28, 2011
The final reading of the October University of Michigan Consumer Sentiment Index came in at 60.9, above the 59.4 registered in September and the 57.5 seen in the preliminary reading. The Briefing.com consensus expected the index to be revised to 58.0. The move contrasted with the decline in the Confidence Board's Consumer Confidence level. That index fell from 46.4 in September to 39.8 in October, the lowest reading since March 2009. The gain in sentiment was most likely the result of the combination of strong equity gains in October and modestly lower gasoline prices. The expectations index was revised up from 47.0 in the preliminary October reading to 51.8. That is the strongest showing in expectations since July. The current conditions index was revised up from 73.8 to 75.1.
ECONX DATAOctober 28, 2011
October Michigan Sentiment (final revision) 60.9 vs. 58.0 consensus; prior 57.5.
WRAPX Market Update: Moderate Morning WeaknessOctober 28, 2011
The major market averages are modestly lower this morning. There isn't any catalyst or headline that has accounted for the relative weakness. Rather, the move lower is mostly owed to a break in buying after stocks ripped higher to close the prior session at their best level in almost three months... That said, financials are trading with outsized losses -- the sector is currently down 1.1%. Of course, that comes after the sector surged 6% yesterday. Dow -0.2%, Nasdaq -0.5%, S&P 500 -0.5%.
October consumer sentimentOctober 28, 2011
Data on consumer sentiment for October are due for release at 9:55am ET.
ECONX DATAOctober 28, 2011
September Personal Income +0.1% vs +0.3%.
September Personal Spending +0.6% vs +0.6%.
September PCE Prices- Core M/M 0.00% vs +0.1%.
Q3 Employment Index +0.3% vs +0.6%.
London stocks October 28, 2011
London stocks drop, led by banks, insurers after rallying in the previous session.
WRAPX S&P futures vs fair value: -4.80. Nasdaq futures vs fair value: -12.00October 28, 2011
Stock futures point to a modestly lower start to the final session of the week. Buyers have tired after driving stocks sharply yesterday for their best close in almost three months. Asia's averages all advanced in the wake of Wall Street's bounce, but buying has also cooled in Europe. Earnings results generally remain strong. Among the more notable names, Dow component Merck (MRK) posted an upside earnings surprise this morning, but fellow blue chip Chevron (CVX) has yet to report. Personal income and spending numbers for September will be posted at the bottom of the hour, along with the third quarter Employment Cost Index. A revised monthly reading on consumer sentiment from the University of Michigan will be posted at 9:55 AM ET.
Personal income, spending for SeptemberOctober 28, 2011
Monthly data on personal income and consumer prices is due at 8:30am ET and U.S. Commerce Department is expected to report that the income of American workers rose 0.3% in September.
ECONX Personal Income and Spending Preview: September 2011October 28, 2011
Both personal spending and income weakened in August. Income fell 0.1% while spending growth slowed from 0.7% in July to 0.2%. The Briefing.com consensus expects income and spending to increase 0.3% and 0.6%, respectively, in September. These levels are roughly in-line with the gains in aggregated wages shown in the September employment report. However, they are considerably different than what the BEA estimated for September in the advance Q3 GDP report. Assuming that there were no revisions to the July and August data, the GDP report showed income fell 0.2% and spending increased 1.2% in September.
GBPUSD AND EURUSD October 27, 2011
...keep making higher highs
John EdwardsOctober 27, 2011
A federal judge in North Carolina on Thursday denied a handful of motions seeking to dismiss the criminal case against former U.S. Senator and presidential candidate John Edwards
EQTOctober 27, 2011
EQT Corp. has resumed trading; shares have rebounded off low.
ECONX DATAOctober 27, 2011
September Pending Home Sales M/M -4.6% vs -0.9%
TOPNX Top News: ISDA Statement on Greek HaircutOctober 27, 2011
The determination of whether the Eurozone deal with regard to Greece is a credit event under CDS documentation will be made by ISDA's EMEA Determinations Committee when the proposal is formally signed, and if a market participant requests a ruling from the DC. Based on what we know it appears from preliminary news reports that the bond restructuring is voluntary and not binding on all bondholders. As such, it does not appear to be likely that the restructuring will trigger payments under existing CDS contracts. In addition, it is important to note that the restructuring proposal is not yet at the stage at which the ISDA Determinations Committee would be likely to accept a request to determine whether a credit event has occurred.
ECONX Q3 GDP Increases By Its Fastest Rate in a YearOctober 27, 2011
According to the advance report, GDP increased 2.5% in the third quarter after increasing 1.3% in Q2 2011. That was the biggest increase since Q3 2010. The Briefing.com consensus expected GDP to increase 2.3%. In all, the GDP report was relatively strong and there were few surprises. The data clearly show that the U.S. is not in a recession and that the likelihood of entering one in the next few months is low. Every sector, with the exception of changes in private inventories, was in the black. After subtracting out the inventory slowdown, final sales of real GDP increased 3.6% in the third quarter. That was two percentage points greater than the final sales increase in Q2 2011 and the largest increase since Q4 2010. Personal consumption expenditures increased 2.4% on healthy growth in durable (+4.1%) and services (+3.0%) demand. Nonresidential investment increased 16.3% as nonresidential structures investment increased 13.3% and equipment and software spending increased 17.4%. Residential construction was up 2.4% and posted its first consecutive increase since the third and fourth quarters in 2005. Exports increased by 4.0% while imports increased by 1.9%. Government spending was flat as a 2.0% increase in federal spending completely offset a 1.3% decline in state and local expenditures.
ECONX October 27, 2011
Initial Claims 402K vs 402K.
Q3 GDP- Advanced +2.5% vs +2.3%.
Q3 GDP Deflator +2.5% vs +2.5%.
Continuing Claims falls to 3.645 mln from 3.741 mln.
ECONX ReminderOctober 27, 2011
Initial Claims, Continuing Claims, GDP-Adv., GDP Deflator due out in ~15 mins at 8:30 ET.
Protestor forced to leave supercommittee hearingOctober 26, 2011
U.S. Capitol police officers escorted a protester from a hearing of the deficit-cutting congressional super-committee on Wednesday after the protester disrupted the event.
ECONXOctober 26, 2011
Congressional Sources saying Super committee Democrats have put forth a plan that has $2.5-3.0 trl in savings over next 10 years; half coming from tax revs, half spending cuts; $300 bln in stimulus spending.
USDCHFOctober 26, 2011
New high on the session
EURUSDOctober 26, 2011
New low on the session
GBPUSDOctober 26, 2011
New daily low
YM AND NQOctober 26, 2011
New lows on day
New home sales in SeptemberOctober 26, 2011
U.S. Commerce Department will release its report on new single-family home sales in September at 10am ET
S&P futures vs fair valueOctober 26, 2011
WRAPX S&P futures vs fair value: +12.00. Nasdaq futures vs fair value: +11.20.
Stock futures have improved their position, such that a sharply higher start to today's trade is now expected. Buying interest comes despite a weak finish to the prior session and angst about how members of the European Union will achieve any plans developed today during a summit, which has been arranged to produce a framework for dealing with Europe's debt crisis and precarious financial conditions. However, headlines indicative of progress are helping improve sentiment. As such, it has just been learned that the German Parliament has approved the motion to strengthen the European Financial Stability Fund, as had been generally expected. The news has helped drive higher the euro, which is now up 0.4% against the greenback. Strong earnings have made for a positive backdrop. For the second straight day reports have generally exceeded what Wall Street had expected. Amazon.com (AMZN) has been one of the few exceptions. As for data, both total durable goods orders and orders less transportation for September proved better than expected. New home sales numbers aren't due until 10:00 AM ET.
Ex-Goldman director Gupta October 26, 2011
Gupta facing criminal charges from hedge fund case
ECONX DATAOctober 26, 2011
September Durable Orders -0.8% vs -1.0%.
September Durable Orders ex-trans +1.7% vs +0.4%.
ECONX ReminderOctober 26, 2011
Durable Orders, Durable Orders -ex Transportation due out in ~15 mins at 8:30 ET
AMZNOctober 26, 2011
Amazon.com sees Q4 revs $16.45 vs $18.21 bln Capital IQ Consensus Estimate.
U.S. durable goods orders for SeptemberOctober 26, 2011
U.S. government will release its report on durable goods orders in September at 8:30am ET
SPY October 25, 2011
Stock indices weaken in recent trade, Nasdaq Comp -42 sets a new session low -- Dow -131, S&P -16.
USDCADOctober 25, 2011
Still surging higher
ECONX October 25, 2011
August FHFA Housing Price Index -0.1%; Prior +0.8%.
October Consumer Confidence 39.8 vs 46.0.
October consumer confidenceOctober 25, 2011
Data on consumer confidence for October are due for release at 10am ET from the Conference Board
YM and NQOctober 25, 2011
Tanking to new lower lows for the day
USDCADOctober 25, 2011
USDCAD rallying higher
Treasury pricesOctober 25, 2011
Treasury prices drifted lower Tuesday, pushing yields up, as trading continued to be driven by news about European leaders’ negotiations on efforts to tame the sovereign debt crisis.
Reserve Bank of IndiaOctober 25, 2011
Reserve Bank of India on Tuesday hiked interest rates by a quarter-point, as expected, but it lowered its growth forecast for the year and hinted that a pause is likely at its December meeting.
NFLXOctober 25, 2011
Netflix downgraded to Sell from Neutral at Janney Montgomery Scott; tgt cut to $51 from $102 following earnings.
TECHX October 24, 2011
Market View: New midday lows DJX, SPX
QQQOctober 24, 2011
QQQ leaders & laggards @ midday: FSLR, BIDU, CTRP, GMCR, JOYG, VMED, & PCAR pace the % gainers; BIIB, NFLX, COST, & TEVA post declines; NASDAQ TRIN bullish @ 0.33; NASDAQ A/D +4:1
FOREXOctober 24, 2011
Dollar index sees further selling, slides into negative territory.
FOREXOctober 24, 2011
Dollar index falls to morning lows.
WikiLeaksOctober 24, 2011
WikiLeaks said Monday that it was temporarily ceasing publication due to lack of funding. In a statement posted on its website, WikiLeaks asked
Mortgage refi plan October 24, 2011
President Barack Obama on Monday is due to unveil a changed mortgage refinance plan that would allow homeowners who have suffered steep price declines on their properties to get cheaper loans.
S&P futures vs fair value: +4.40. Nasdaq futures vs fair value: +11.20October 24, 2011
Commodities are generally performing well this morning. That has the CRB Commodity Index up 0.8%. Among the more widely tracked components, crude oil prices are up 1.1% to $88.40 per barrel in the opening minutes of pit trade. Meanwhile, natural gas prices are up 0.4% to $3.64 per MMbtu. Precious metals are also performing well. Specifically, gold prices are presently up 1.4% to $1659 per ounce, while silver is up 1.3% o $31.60 per ounce. The gains come in the face of a modest upward move by the dollar, which was recently quoted with a 0.2% gain against a basket of major currencies.
SXCIOctober 24, 2011
Buying for the bounce.
Federal Reserve Bank of Chicago's national activity indexOctober 24, 2011
The Federal Reserve Bank of Chicago's national activity index, which gauges the health of the U.S. economy, improved to -0.22 in September from -0.59 in August. The bank said the increase was spurred by gains in employment-related indices. Still, the Chicago Fed index points to economic growth "below its historical trend," though the offshoot could be falling inflation "over the coming year," the bank said. A three-month average of the index, meanwhile, rose to -0.21 from negative -0.28 in August. The Chicago Fed's gauge is composed of 85 separate economic indicators. Last month, 39 of the indexes were positive while 46 were negative. A reading of zero means the economy is performing at trend growth rates.
Fed's DudleyOctober 24, 2011
sees sluggish growth ahead; 'More persistent factors' slowing growth; Economy faces serious headwinds; expects subdued inflation
SPYOctober 21, 2011
Further slippage off morning highs for stock indices -- Dow +154 has pulled back 79 points off high, S&P +11, Nasdaq Comp +12
Down we goOctober 21, 2011
Markets started the fall over last few minutes YM, NQ, GBPUSD AND EURUSD all sliding lower.
America's war October 21, 2011
Obama: 'America's war with Iraq will be over'
Iraq October 21, 2011
Obama to say all U.S. troops to leave Iraq by end of year.
Today's biggest point gainers/losersOctober 21, 2011
Biggest point gainers: CMG (329.76 +21.85), MKL (382.95 +9.66), Y (302.80 +8.38), MTD (148.54 +5.96), SYNA (32.47 +5.45), BIIB (107.09 +5.42), CF (152.55 +5.24), WPO (342.26 +5.08), SIVB (46.46 +4.95), ICE (127.71 +4.90), BXUC (130.47 +4.76), PNRA (110.37 +4.52), BH (325.95 +4.36), CME (265.78 +4.33), HAR (39.89 +4.22), ALTR (37.01 +3.98), DRQ (63.72 +3.84), MELI (65.09 +3.84), MA (329.51 +3.83), AVB (124.24 +3.75), SNDK (49.13 +3.63), PCP (168.60 +3.55), ATRI (225.05 +3.54)
Biggest point losers: VRUS (71.91 -7.49), TVIX (57.35 -6.30), APKT (31.89 -6.24), BXDC (44.33 -4.31), CVOL (45.00 -3.95), VIIX (96.35 -3.65), DTO (56.94 -3.50), GRN (12.00 -3.10), ROSA (41.00 -2.93), SFSA (40.26 -2.88), RTSA (50.05 -2.85), BXDB (83.05 -2.36), VXX (43.98 -2.34), BIDU (121.53 -2.34), DOV (51.43 -2.12), CPHD (36.48 -2.07), DIT (53.00 -1.90), INFA (43.19 -1.81), VXZ (65.70 -1.75), BSFT (35.41 -1.54)
SPY Stock indices range trade just mildly under morning highs -- Dow +209, S&P +19 Nasdaq Comp +38October 21, 2011
Noted in the 10:42 update that the S&P had met a short term technical target with momentum slowing. Some backing and filling was possible but it has remained very limited thus far. A continued hold above the pullback low (1233) which also marks the range top/200 ema would leave it positioned for a intraday follow through attempt.
Dollar hits record low vs. yenOctober 21, 2011
Japanese yen at strongest level since World War II
S&P futures vs fair value: +12.60. Nasdaq futures vs fair value: +23.50.October 21, 2011
Stock futures remain near their best levels of the session, suggesting a strong open to today's trade. Futures are rallying in anticipation that this weekend's European Union Summit will provide some answers as to how European leaders plan to combat the debt crisis. The dollar index has been hammered down to its session lows near 76.50 as the greenback trades lower against all of the other major currencies. A recent slide in dollar/yen dropped the pair to a record low 76.81.
Groupon IPOOctober 21, 2011
In a regulatory filing today, Groupon now aims to raise up to $621 million.
USDCHFOctober 21, 2011
On the move higher
YM and NQOctober 20, 2011
Continue to tumble lower.
Weakness in the U.S. markets coincides with a pullback in the euro and European marketsOctober 20, 2011
The pullback to lows in U.S. markets has coincided with a decline in the euro and move higher in the dollar (euro is now -0.006 at $1.3701). European averages are trading at/near lows (DAX -2.6%, CAC -1.6%). As mentioned at 10:52, the Italian 10-year yield moved above 6% for the first time since early August... There doesn't appear to be any new headlines driving the latest declines. U.S. averages are trading at/near lows as well, giving up early gains that were made on the back of a much better-than-expected Philly Fed reading (Dow -58, SPX -6, Nasdaq Comp -1.1%).
ECONX DATAOctober 20, 2011
September Leading Indicators +0.2% vs +0.3%
October Philadelphia Fed 8.7 vs -8.8
September Existing Home Sales 4.91 mln vs 4.92 mln
September leading economic indicatorsOctober 20, 2011
Scheduled for release at 10am ET by the Conference Board.
Allstate October 20, 2011
Allstate Corp. said it estimates catastrophe losses for the month of September at $215 million, pre-tax, and at $1.08 billion, pre-tax, for Q3 with seven catastrophe events in September.
GadhafiOctober 20, 2011
U.S. State Department Thursday said it can't confirm reports that former Libyan leader Col. Moammar Gadhafi has been captured.
ECONX DATAOctober 20, 2011
Initial Claims 403K vs 403K
Continuing Claims rises to 3.719 mln from 3.694 mln
GBPUSDOctober 20, 2011
GBPUSD diving
Weekly jobless claimsOctober 20, 2011
U.S. Labor Department will release weekly jobless claims at 8:30am Eastern Time
Listeria October 19, 2011
The FDA said that dirty equipment at a Colorado fruit-packing plant is the likely culprit behind a lethal listeria outbreak in cantaloupe.
Fed's RosengrenOctober 19, 2011
Despite the Dodd-Frank bank reform legislation and global efforts to strengthen banks under the Basel III capital accord, the global economy is still at risk from "too big to fail" banks.
Norway central bankOctober 19, 2011
Norway's central bank on Wednesday left its key interest rate unchanged at 2.25%, as expected, and signaled rates will remain on hold as the Norwegian economy deals with a prolonged downturn among advanced economies and continued turbulence in world financial markets.
Greek debtOctober 19, 2011
An overwhelming majority of global investors expect the Greek government to default on its debt obligations.
ECONX DATAOctober 19, 2011
ECONX September CPI M/M +0.3% vs +0.3%
ECONX September Core CPI M/M +0.1% vs +0.2%
ECONX September Housing Starts 658K vs 595K
ECONX September Building Permits 594K vs 610K
ECONX September CPI Y/Y +3.9%, Core CPI Y/Y +2.0%
Visa October 19, 2011
Visa hikes dividend by 47% to 22c from 15c
Economical DataOctober 19, 2011
Consumer prices and new housing starts out at 8:30am ET
Euro October 18, 2011
Euro turns up on report of rescue fund
YM no ceilingOctober 18, 2011
going through the roof
Commodity Futures Trading CommissionOctober 18, 2011
A split CFTC approved long-awaited rules limiting trading in the commodities market, seeking to curb excessive speculation and potential manipulation.
The new rules limit the number of commodity contracts that any investor can hold in agriculture, energy or metals contracts.
HOLX Hologic: FDA clears Hologic's Specimen radiography systemOctober 18, 2011
Co announced that the FDA has cleared the Company's Trident specimen radiography system. The system uses Hologic's proprietary direct digital detector technology to produce high quality images for rapid verification of tissue specimens such as breast biopsy samples.
PPI Spikes in September on Temporary Increase in Energy CostsOctober 18, 2011
Producer prices jumped 0.8% in September after being unchanged in August. The spike in producer prices should not be a cause for concern and most likely will turn negative next month. The average oil and gasoline price in September was substantially lower than August levels. However, the Bureau of Labor Statistics does not use monthly averages to calculate inflation. Instead, it surveys businesses on one day during the month. It just so happened that the day used to compare inflation between September and August was during a mini surge in oil prices where crude prices were 13.7% higher than their respective August level and gasoline prices were up 1.4%. This spike in energy prices translated into a 2.3% increase in energy costs in the PPI index, the largest increase since the North African/Middle East uprisings pushed oil prices higher during the first quarter of the year. Since oil and gasoline prices have moderated since the BLS survey date, the energy index should reverse in October and put downward pressure on inflation. Food prices increased 0.6% in September as fresh and dry vegetable prices were up 10.0%. Outside of food and energy prices, core prices increased 0.2% in September, up from 0.1% in August. The consensus expected core prices to increase 0.1%. A 0.6% increase in light truck prices accounted for one-third of the increase in core prices.
YMOctober 18, 2011
YM on the move higher
GBPUSDOctober 18, 2011
GBPUSD moving lower
SPYOctober 17, 2011
Stock indices slide slightly extended -- Dow -209, S&P -20, Nasdaq Comp -49
GMCROctober 17, 2011
GMCR Getting killed.
L'Oreal heiressOctober 17, 2011
A French court has found that the 88-year-old heiress to the L'Oreal cosmetics fortune, Liliane Bettencourt, is mentally unfit and has placed her under the legal guardianship of her eldest grandson.
USDCADOctober 17, 2011
USDCAD making steady higher highs
YMOctober 17, 2011
YM keeps making steady, lower lows.
SINA October 17, 2011
China's social media may be subject to stricter regulations, according to reports
ECONX October 17, 2011
Reminder: Empire Manufacturing due out in at 8:30 ET
ARCO guides below consensusOctober 17, 2011
Arcos Dorados sees Q3 revs $970-990 vs $1.01 bln Capital IQ Consensus Estimate
Lowe'sOctober 17, 2011
closing 20 stores pares back new stores, changes to impact earnings by 17c-20c, 1,950 employees to be affected
Citi HoldingsOctober 17, 2011
Citi Holdings assets drop 31% from year ago
U.S. economy October 14, 2011
U.S. economic growth hit a 57-week low, posting its weakest reading since Sept. 2010, the Weekly Leading Index (WLI) growth indicator.
ECONX DATAOctober 14, 2011
August Business Inventories +0.5% vs +0.4%
October Michigan Sentiment 57.5 vs
60.0
Near-term pullback pending but Q4 rally likely underway - RBCOctober 14, 2011
RBC's expectation is that the pending pullback is likely to be shallow for most stocks and new lows will not be made. Confirmation of this view is likely to develop by late October. Technology, notably Semis and Communication Equipment, continue to stand out as one of the more attractive emerging technical themes within equities. Use pending pullbacks to accumulate VMW, EMC, CSCO, QCOM, BRCM, SNDK, smaller caps ONNN, DIOD, BRKS and in Software CTXS, TIBX and VELT. Defensive themes slowing/peaking intermediate-term illustrated by SO, WFM and AZO. Other positive: PII, M, ALV, THOR and UHS; negative: KSS, LOW, AAP and WLP.
S&P futures vs fair value: +13.60. Nasdaq futures vs fair value: +28.50.October 14, 2011
Stock futures have ticked higher in recent action. The bidding follows the latest dose of data, which featured news that retail sales increased by 1.1% during September. They had been broadly expected to increase by 0.6% after an upwardly revised 0.3% increase for the prior month. Excluding autos, retail sales were up by 0.6%. That also exceeded what had been widely anticipated, which was a 0.3% increase. Sales less autos for the prior month were revised higher, too. They now show an increase of 0.5%. Separately, import prices increased by 0.2% in September, as they did in the prior month. Export prices, excluding agricultural items, increased by 0.3%, just as they did in August.
ECONX DATAOctober 14, 2011
September Export Prices ex-ag +0.3%; Prior +0.3%
September Retail Sales ex-auto +0.6% vs +0.3%
September Import Prices +0.2%; Prior +0.2%
September Retail Sales 1.1% vs +0.6%
YMOctober 14, 2011
YM trading at HOD ahead of data.
Retail Sales Preview: September 2011October 14, 2011
After languishing around 11.5 mln - 12.0 mln SAAR from May to August, motor vehicle sales in September returned to their recent highs and exceeded 13 mln SAAR for the first time since April. The negative effects following the Japanese earthquake and tsunami -- which lowered inventory levels and elevated prices -- seem to have complexly dissipated. The growth in motor vehicle sales should provide a substantial boost to the transportation sector. Excluding the transportation sector, the consensus expects retail sales to increase 0.3% in September, up from 0.1% in August. Income growth in September was sizable should be enough to support strong consumption growth. Average hourly earnings increased 0.2% while weekly hours increased from 34.2 in August to 34.3 in September. After taking into account the payroll gains, aggregate weekly income increased 0.6% in September. Even after adjusting income data for the Verizon strike -- which biased the payroll numbers by -45,000 in August and +45,000 in September -- aggregate income increased between 0.2% and 0.5%.
Corporate default tally rises to 34 this yearOctober 13, 2011
U.S. home builder and a Greek glass manufacturer. U.S.-based home builder William Lyon Homes Inc. defaulted for the second time this year by again missing an interest payment, making it the second issuer to miss two payments in 2011. Real Mex Restaurants Inc. earlier this month filed for bankruptcy protection, its second default of the year. Greece-based issuer Yioula Glassworks SA also failed to finalize refinancing on a EUR15 million loan from Piraeus Bank SA before the loan matured last month. The glassmaking company has not repaid the loan.
Teva and CephalonOctober 13, 2011
Pharmaceutical Industries Ltd. (TEVA) said received approval from the European Commission to proceed with its buyout of Cephalon (CEPH)
New low for S&P -14, Nasdaq Comp -11.3 but still holding near supportsOctober 13, 2011
Highlighted the 2590/2585 zone for the Nasdaq Comp earlier/Technical Take (session low 2588) with a limited bounce noted. Support for the S&P mentioned previously at 1191/1189 has also held thus far (session low 1190.58). Need set-up but potentially looking at/near end of slide off yesterday's high which would allow for at least of correction of this wave.
Galleon RajaratnamOctober 13, 2011
Galleon Rajaratnam sentenced to 11 years
Strauss-Kahn rape probeOctober 13, 2011
French prosecutors on Thursday dropped their investigation of a writer's claim that Dominique Strauss-Kahn, former head of the International Monetary Fund, tried to rape her.
Oil inventoriesOctober 13, 2011
Oil inventories up 1.3 million barrels per EIA
NFLX Netflix: CBS Corporation and Warner Bros. Television Group announced today a licensing agreement with Netflix October 13, 2011
CBS Corporation and Warner Bros. Television Group announced today a licensing agreement with Netflix [Nasdaq: NFLX] allowing U.S. members of Netflix to instantly watch previous seasons of scripted series that air on The CW from its current schedule through the 2014-15 season. As part of this four-year output deal, Netflix has licensed the rights to stream more than 700 hours of previous-season episodes of The CW's young-skewing dramas as well as future programs. These rights extend for four years after each series, current or future, ends its broadcast run on the network. The CW content can also be made available via traditional syndication windows, electronic sell-through services and, on a partial-season basis, through authenticated cable providers.
CFPB to examine banksOctober 13, 2011
The Consumer Financial Protection Bureau plans to start examining big and mid-sized bank mortgage servicers with a focus on loans in default as part of an effort to ensure that troubled homeowners are aware of all their alternatives.
Raj RajaratnamOctober 13, 2011
Raj Rajaratnam, the convicted inside trader, will be sentenced later today to what could be one of the longest-ever jail terms for such a case. Prosecutors have asked for Rajaratnam to be jailed for as much as a bit more than 20 years. Rajaratnam, who co-founded the Galleon Group of hedge funds, was convicted in May on several counts of insider trading and conspiracy.
POSCO October 13, 2011
South Korean steel giant POSCO plans to cut total spending for this year by KRW1 trillion ($865 million) as a result of continuing concerns over the pace of global and domestic economic growth.
ISTA Pharma October 13, 2011
ISTA Pharma eye treatment meets study goals to treat pain and inflammation following cataract surgery met primary goals in a Phase 3 study.
BlackBerry serviceOctober 13, 2011
Users of Research In Motion Ltd.'s BlackBerry device in Asia had to contend with patchy service for a second straight day Thursday as the smartphone maker scrambled to fix the cause of email and instant-messaging disruptions that have now spread across five continents, although some services elsewhere were starting to return to normal.
S&P futures vs fair value: -10.90. Nasdaq futures vs fair value: -11.00.October 13, 2011
Stocks finished the prior session in weak fashion, but the broad market still scored its sixth gain in seven trading days. Selling pressure, although moderate, has extended into this morning's trade as participants continue to take their cues from Europe's major bourses, which have pulled back in their most recent round of action. An upside earnings surprise from JPMorgan Chase (JPM) has done little to offer support ahead of the open. Shares of the diversified financial services giant are down in excess of 1% ahead of the open. Their slide comes after the stock set a three-week high yesterday. Monthly international trade data and the latest weekly tally of initial jobless claims are due at the bottom of the hour. The monthly Treasury Budget will be released at 2:00 PM ET. Also on the docket, weekly natural gas inventories are due at 10:30 AM ET, followed by weekly oil inventories at 11:00 AM ET. Results from an auction of 30-year Bonds will be released at 1:00 PM ET. Google (GOOG) will report its latest quarterly results after the close.
IDCCOctober 12, 2011
IDCC, lower lows.
Fed's PlosserOctober 12, 2011
The U.S. is not on the verge of a double-dip recession, Philadelphia Fed President Charles Plosser said Wednesday, according to a text of a speech he's due to deliver. "Many of my business contacts suggest that while growth is very sluggish and uneven, they do not see the precipitous declines that many news accounts would suggest," he said in reiterating his forecast for sub 2% growth this year and around 3% growth in 2012.
GMCR on the moveOctober 12, 2011
GMCR on the move higher again.
SPYOctober 12, 2011
SPY soaring
GMCROctober 12, 2011
New LOD
Greece's premier has Thursday meetings in BrusselsOctober 12, 2011
Greek Prime Minister George Papandreou will meet with European Council President Herman Van Rompuy and Jean-Claude Juncker, the chairman of the Eurogroup of euro-zone finance ministers in Brussels on Thursday. He will meet Van Rompuy at 0810 GMT and will sit down with Juncker at 1530 GMT according to his office
Earnings CalendarOctober 11, 2011
Today after the close look for the following companies to report:
* ADTN, AA, EXFO, HCSG, JOEZ, and SURG.
Tomorrow before the open look for the following companies to report:
* ASML, HST, INFY, PEP, and PGR.
Plot to Kill Saudi ambassadorOctober 11, 2011
Justice Department charged two men on Tuesday with allegedly conspiring to kill the Saudi ambassador to the United States. Attorney General Eric Holder said Iran also paid men to bomb the Saudi and Israeli embassies, and that Iran would be held responsible. One suspect remains at large.
United Commercial BankOctober 11, 2011
ormer executives of United Commercial Bank misled investors about mounting loan losses at the bank, resulting in one of the largest bank failures of the finanical crisis, according to charges by the Securities and Exchange Commission Tuesday. United Commercial Bank failed in November 2009 and cost the Federal Deposit Insurance Corp.'s deposit-insurance fund $2.5 billion. The SEC charged the bank's former Chief Executive Thomas Wu, Chief Operating Officer Ebrahim Shabudin, and senior officer Thomas Yu with concealing loan losses from the bank's auditors, an action that was instrumental in causing the bank to fail.
2015 Super BowlOctober 11, 2011
National Football League owners voted Tuesday to award Super Bowl XLIX, set to be played in 2015, to Glendale, Ariz.
Europe fund voteOctober 11, 2011
investors awaiting vote in Slovakia on increasing the size and abilities of Europe’s bailout fund.
Volcker Rule October 11, 2011
FDIC board votes 3-0 in favor
Blackberry UK service experiencing problemsOctober 11, 2011
Research In Motion BlackBerry service is experiencing problems in the U.K. for a second consecutive day, the U.K.'s biggest mobile operator by revenue, Everything Everywhere.
Nasdaq 100 +7 / Comp +2.2 edge slightly above yesterday's highsOctober 11, 2011
The Nasdaq 100 has reach 2285 in recent action, its 200 sma comes into play slightly above at 2290. The QQQ high is 56.09, its 200 sma is at 56.24.
Greece likely to get aid in NovemberOctober 11, 2011
Greece is likely to receive an 8 billion euro ($10.9 billion) tranche of aid in early November, its international lenders said Tuesday, allowing the troubled euro-zone nation to avert a near-term default.
Moody'sOctober 11, 2011
U.S. economy remains vulnerable to a new downturn, though the probability of a recession in the next six months to a year is unchanged at 40%, according to Moody's Analytics.
S&P futures vs fair value: -8.30. Nasdaq futures vs fair value: -7.00.October 11, 2011
During the first few minutes of pit trade, oil prices are down 1.0% to $84.55 per barrel. That follow's the energy component's near 3% gain in the prior session. As for natural gas, prices are up 0.8% to $3.57 per MMbtu, building on the near 2% gain that they staged yesterday. Precious metals have been bid lower. Specifically, gold prices were last quoted at $1663 per ounce for a 0.5% loss, which makes for a rather weak follow-up to their gain of more than 2% in the prior session. Meanwhile, silver prices have slid 1.1% to $31.63 per ounce after they closed yesterday's trade more than 3% higher.
Wall St. cuts through 2012October 11, 2011
The securities industry in New York City faces a likely 10,000 more job cuts through 2012. State Comptroller Thomas DiNapoli also said in the report that the industry's bonuses are likely to shrink this year. "Since April 2011, the securities industry in New York City has lost 4,100 jobs. The Office of the State Comptroller forecasts that the City could lose nearly 10,000 additional jobs by the end of 2012, which would bring total job losses in the securities industry to 32,000 since January 2008. Additional job losses are expected in banking and in other parts of the financial services sector,"
European Markets Update: FTSE -0.9%, CAC -0.8%, DAX -0.7%October 11, 2011
The major European indices are lower this morning as markets brace for Slovakia's EFSF vote. Slovakia is the only country of the 17 member nations in the EU that has not yet approved the expansion of the EFSF. Data in the region was light as British manufacturing production missed (-0.3% MoM expected v. -0.1% MoM actual). Looking at the currencies...EURUSD is weaker at 1.3590 while GBPUSD is is lower near 1.5615. In Britain, the FTSE is -0.9% as commodity-related names underperform. Cairn Energy is -3.4% and miner Xstrata is -2.0% as both are among the worst performers in the index. Financial shares are outperforming as Royal Bank of Scotland and Lloyds Banking Group are up 1.5% and 0.6% respectively.
In France, the CAC is -0.8% as financials see a mixed trade. Embattled banks BNP Paribas and Societe Generale are holding gains of 1.1% and 2.3% while competitor Credit Agricole is -1.3%.
In Germany, the DAX is -0.7% as financials lead the way lower. Allianz and Commerzbank are among the worst performing stocks in the index with losses of 2.2% and 1.7% respectively. Automakers are outperforming Volkswagen is +0.7% and BMW is -0.2%.
Greece October 11, 2011
Greece likely to get aid tranche in Nov.
European stocks riseOctober 10, 2011
European stocks ended with strong gains Monday after Germany and France vowed to present a comprehensive plan to deal with the debt crisis and recapitalize the euro-zone bank sector.
Market Update: Strong Bounce Starts New WeekOctober 10, 2011
The major equity averages are up sharply this morning. The effort has the broad market back in touch with its 50-day moving average for the first time in more than two months... Financials dragged on trade this past Friday, but the sector is leading this morning. It is already up 3.0% as bank stocks and diversified financial services stocks bounce. Many are taking their cues from European banks, which have been bid sharply higher in response to a more concerted, unified commitment by Europe's officials to shore up financial institutions in their region. Dow +2.0%, Nasdaq +2.1%, S&P 500 +2.3%.
InsmedOctober 10, 2011
U.S. Food and Drug Administration has extended a halt on clinical trials for its inhalable antibiotic based on early results from long-term tests on rats.
S&P futures vs fair value: +19.70. Nasdaq futures vs fair value: +35.00.October 10, 2011
Following a 4.5% weekly gain, oil prices are up another 2.0% to $84.60 per barrel in the first few minutes of pit trade today. In the backdrop is news of violence in the streets of Egypt. Meanwhile, natural gas prices are up 1.1% to $3.52 per MMBtu after they tumbled 3.1% last week. Among precious metals, gold prices are up 1.9% to $1667 per ounce after a 0.8% gain last week. Silver prices ascended 3.2% last week and are up this morning by another 3.5% to $32.07 per ounce. Overall strength in the commodity complex has the CRB Commodity Index up 1.2%.
European stocksOctober 10, 2011
European stocks posted modest gains Monday after Germany and France vowed to present a comprehensive plan to deal with the debt crisis and recapitalize the euro-zone bank sector.
Euro Turns LowerOctober 7, 2011
The euro turned down slightly on Friday after Fitch Ratings cut Italy's credit score to A-plus from AA-minus and Spain's rating to AA-minus.
Market sees another quick dipOctober 7, 2011
On Fitch downgrade of Spain... S&P now -3, Nas Comp -20, Dow +29
MCET- MULTICELL TECHNOLOGIES, INC. October 7, 2011
Item 1.01 Entry Into a Material Definitive Agreement.
On September 30, 2011, Multicell Technology, Inc., or the Company, entered into an amendment to the Foreclosure Sale Agreement, or the Agreement, dated as of September 30, 2010, by and among Xenogenics Corporation, Venture Lending & Leasing IV, Inc., Venture Lending & Leasing V, Inc. and Silicon Valley Bank. The amendment extends deadlines for the achievement of certain milestones under the Agreement by twelve months.
The foregoing description of the amendment and the Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the amendment, a copy of which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K, and the full text of the Agreement, which was filed as exhibit 10.2 to a Current Report on Form 8-K filed on October 20, 2010. The foregoing exhibits are hereby incorporated by reference.
Netflix target lowered to $96 at Caris & CompanyOctober 7, 2011
Caris & Company lowers their NFLX tgt to $96 from $103 based on a fresh dose of concern surrounding rights costs paid out to EPIX, the JV owned by Viacom (VIA.B), Lionsgate (LGF), and Metro-Goldwyn-Mayer.
YMOctober 7, 2011
YM surging higher after jobs data.
USDCADOctober 7, 2011
Tumbling!
ECONX Reminder: October 7, 2011
Nonfarm Payrolls, Nonfarm Private Payrolls, Unemployment Rate, Hourly Earnings, Average Workweek due out in ~15 mins at 8:30 ET
Illumina October 7, 2011
shares plummet 31% in pre-market trading
NYMEX Energy Closing PricesOctober 6, 2011
Crude oil rallied for $2.91 to settle at $82.59, natural gas closed up 3 cents at $3.60, heating oil rallied for 8 cents to close at $2.86, while RBOB gasoline gained 11 cents to end at $2.68 (all Nov contracts).
ep. Luis Gutierrez, a democrat of Illinois, said Thursday at a House Financial Services Committee hearingOctober 6, 2011
Treasury Secretary Timothy Geithner failed to employ enough of $50 billion in taxpayer funds that were authorized to help troubled homeowners modify mortgages and avoid foreclosure.
EBA won't rule out new round of stress testsOctober 6, 2011
European Banking Authority said Thursday it can't rule out launching a new round of stress tests on Europe's banks, but denied having already done so.
"The situation has evolved rapidly and dramatically" since the EBA published the results of its stress tests in July, a spokeswoman said, adding that the body, "as a technical authority, will of course assess all the alternatives."
Obama on Wall StreetOctober 6, 2011
Not everyone on Wall Street follows rules; all Street protests reflect frustration; he supports banks that do 'right thing'
Obama: Jobs bill is insurance against new downturn October 6, 2011
U.S. economy is 'fragile' ;
Treasury Sect Tim GeithnerOctober 6, 2011
Prepared remarks before the Committee on Banking, Housing, and Urban Affairs, says European financial crisis has placed significant pressure on its financial institutions and slowed growth significantly in Europe and around the world - \\\"Our direct financial exposure to those governments and their financial institutions is quite small, but Europe is so large and so closely integrated with the U.S. and world economies that a severe crisis in Europe could cause significant damage by undermining confidence and weakening demand. This makes it even more important that Congress act to strengthen growth now and put our fiscal position on a more sustainable path.
S&P +3.2 reaches upper end of first resistance zone and pausesOctober 6, 2011
Noted the hold at first level support for the S&P from The Technical Take in the 10:08 update (1134/1132) with the 18 point rebound reaching first level resistance at 1150/1152 (congestion, 50% retrace of the Aug to Oct slide) in recent trade.
30-year mortgageOctober 6, 2011
30-year mortgage at record low 3.94%
Geithner: Europe crisis could cause major damageOctober 6, 2011
A severe crisis in Europe could cause significant economic damage by undermining confidence and weakening demand, Treasury Secretary Timothy Geithner said in remarks prepared for a hearing on Thursday.
Bank of England launches more QEOctober 6, 2011
The Bank of England stunned currency markets Thursday by announcing another round of quantitative easing, responding to threats to the U.K. economic recovery and prompting a steep selloff in the British pound.
Steve Jobs has diedOctober 5, 2011
Apple says that the company's founder and former chief executive Steve Jobs has died at age 56.
Bank of America website faces access issues againOctober 5, 2011
"We value your business and appreciate your continued patience," the bank's website said Wednesday morning. "Most of our site is working normally, but you may experience occasional delays."
Democrats propose 5% tax on millionairesOctober 5, 2011
Senate Democratic leaders proposed a 5% surtax on income of $1 million or more to pay for President Barack Obama’s jobs bill on Wednesday, casting aside revenue-raising proposals floated by the White House and setting up a clash with vehemently anti-tax Republicans.
Varian climbs on cancer treatment resultsOctober 5, 2011
Shares of Varian Medical Systems Inc. jumped today after the medical device maker released findings that show lung cancer patients can benefit from treatment using radiotherapy methods developed by the company.
Nasdaq 100/Comp +33 set new session highs, Dow +62 and S&P +8.4October 5, 2011
Hovering slightly under their morning peaks.
Consumer-credit delinquencies riseOctober 5, 2011
Delinquency rates for consumer loans rose in the second quarter, as employment weakness persisted and higher gas and food prices pressured family budgets.
Services growth decelerates in September: ISMOctober 5, 2011
The pace of growth in the services sector decelerated slightly in September, according to data released today that reinforce a picture of a slow-moving economy.
September ISM services indexOctober 5, 2011
The Institute for Supply Management is due to release its services index for September at 10am ET.
Apple: Rodman & Renshaw reviews iPhone 4S launch; firm expects the Android ecosystem will likely continue to gain smartphone share at a faster paceOctober 5, 2011
Rodman & Renshaw notes, with Android smartphones offering superior hardware features to the iPhone, Apple will continue to emphasize the differentiation in the software stack and platform. Google (GOOG) is expected to release its own voice recognition engine for the Android ecosystem by early next year neutralizing any major points of differentiation. With only incremental improvements to the iPhone portfolio, firm expects the Android ecosystem will likely continue to gain smartphone share at a faster pace.
GM teaming up with RelayRidesOctober 5, 2011
GM car owners will be able to rent out their autos
U.S., New York sue Bank of New YorkOctober 5, 2011
U.S. Department of Justice and the New York attorney general both sued Bank of New York Mellon Corp. over the way the firm handled some customers' currency transactions, according to a published report.
S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -3.50.October 5, 2011
The prior session saw stocks slide more than 2% to set new 52-week lows, but a late rally resulted in a broad market gain of more than 2% for the day. Such a strong finish and an improved mood in Europe have helped stock futures trade higher this morning, although futures are shy of their best levels of the morning. The prior session's strong finish and the positive tone to trade in Europe comes in conjunction with reports that officials in Europe are considering ways to recapitalize banks in the region. Meanwhile, news that analysts at Moody's downgraded Italy's debt hasn't come as any kind of a surprise, and disappointing PMI Service Index results from the eurozone have been disregarded. Market participants get a dose of domestic data today. The bottom of the hour brings the latest Challenger Job-Cut Report then the ADP Employment Report at 8:15 AM ET. The ISM Services Index follows at 10:00 AM ET.
Challenger October 5, 2011
Challenger cites big military job cuts in to Sept.; Sept. layoffs at highest since 2009; Sept. job cuts 126% higher than August cuts
Fed ready to provide new lending programOctober 4, 2011
The Federal Reserve could start a new broad-based lending program to address a potential run on U.S. financial system if the European crisis worsens, Federal Reserve Board chairman Ben Bernanke said.
NJ Gov. Christie won't run for presidentOctober 4, 2011
New Jersey Gov. Chris Christie will not run for president, media reports said today.
S&P 500 enters bear territoryOctober 4, 2011
U.S. stocks stumbled Tuesday for a third session as Federal Reserve Chairman Ben Bernanke urged lawmakers against budget steps that could hinder a lackluster recovery.
BernankeOctober 4, 2011
Twist will cut long-term rates by 20bp; Twist equivalent to 50 bp fed funds cut
YMOctober 4, 2011
YM sinking
Bernanke Weighing on the MarketsOctober 4, 2011
“Recent indicators, including new claims for unemployment insurance and surveys of hiring plans, point to the likelihood of more sluggish job growth in the period ahead,” Bernanke said in testimony prepared for the Joint Economic Committee of Congress.
Bernanke not optimistic about labor marketOctober 4, 2011
Federal Reserve Board Chairman Ben Bernanke said today. "Recent indicators, including new claims for unemployment insurance and surveys of hiring plans, point to the likelihood of more sluggish job growth in the period ahead," Bernanke said in testimony prepared for the Joint Economic Committee of Congress.
New Jersey Gov. Chris ChristieOctober 4, 2011
New Jersey Gov. Chris Christie has scheduled a 1 p.m. Eastern announcement about a presidential run. Christie has been courted by Republicans but has repeatedly said he won't run for the GOP nomination.
Bear TerritoryOctober 4, 2011
S&P 500 flirts with bear territory as stocks fall
A.C. Moore agrees to be bought for $1.60 a share October 4, 2011
Private crafts distributor Sbar's Inc. buying ACMR
U.S. banks fall on heavy volume in preopen tradeOctober 4, 2011
Shares of top U.S. banks fell in pre-open trade this morning. The sector is once again the focus of the markets as stocks around the world are falling on continuing financial turmoil in Europe.
S&P futures vs fair value: -19.40. Nasdaq futures vs fair value: -34.00.October 4, 2011
The S&P 500 closed at a new 52-week low yesterday, and yet market participants continue to apply pressure to stock futures, such that the cash market looks like it will continue its descent with a marked decline at the open. Concern comes amid continued speculation about a default by Greece after the country had announced during the weekend that it will come short of deficit targets and, more recently, eurozone officials indicated that they will push back the disbursement date of aid to country. Amid such weak sentiment, safe havens remain in strong favor. As such, the dollar is up modestly in an extension of its prior session advance. Treasuries have ticked higher, too. However, gold prices are down narrowly to about $1652 per ounce. At 10:00 AM ET, attention shifts to Fed Chairman Bernanke, who will issue an update on the economic outlook and monetary policy before the Joint Economic Committee. Monthly factory orders figures will also hit news wires at 10:00 AM ET.
SciClone Pharmaceuticals October 4, 2011
Company to repurchase up to $20 million worth of its stock over the next two years.
Deutsche BankOctober 4, 2011
...said it no longer expects to reach the targeted EUR10 billion pretax profit from operating businesses this year, as uncertainty caused by the European sovereign debt crisis ate into volumes and revenue in Q3, notably at the investment bank.
Blue Shield of California to drop Avastin for breast cancerOctober 3, 2011
Blue Shield of California, a non-profit health insurer covering 3.3 million members, will soon stop paying for use of Roche Holding AG's (RHHBY, ROG.VX) drug Avastin as a treatment for breast cancer.
YM and NQOctober 3, 2011
Both are drifting harder to the downside.
BofA Websiite Troubles ContinueOctober 3, 2011
BofA website suffering access issues again.
September ISM manufacturingOctober 3, 2011
Institute for Supply Management is due to release its September report on manufacturing at 10:00 am ET
Wall Street set to start Q4 in negative territoryOctober 3, 2011
Wall Street looks set to begin Q4 in the red zone as stock-market futures dropped following the news that Greece will miss its deficit target for the year
Pharmaceutical Product Development OK's buyout October 3, 2011
PPD to be bought by Carlyle Group for $3.9 billion - shareholders to get $33.25 a share
AGCO agrees to buy GSI holdingsOctober 3, 2011
AGCO Corp. reported they are buying GSI Holdings Corp. for $940 million, helping extend its reach in the agricultural industry and expand its range of products and services.
S&P futures vs fair value: -0.40. Nasdaq futures vs fair value: -9.50.October 3, 2011
In the final session of September, stocks suffered another loss, which only added to their poor monthly performance and their worst quarterly showing in almost three years. Yet the same crucial themes that weighed on sentiment in recent months continue into the new quarter. More directly, underwhelming data from Europe and news that Greece will come short of its deficit target for 2011 have taken Europe's bourses down sharply and, by extension, put pressure on domestic stock futures. That said, premarket pressure hasn't been too intense. There are a couple of noteworthy releases on tap for today. Both the latest ISM Manufacturing Index and construction spending numbers are due at 10:00 AM ET. Monthly motor vehicle sales numbers will be released intermittently.
Greek deficitOctober 3, 2011
European stock markets fell sharply on Monday, with banks such as BNP Paribas SA and Commerzbank AG leading losses on news Greece will not meet its deficit targets this year.
ECONX September 30, 2011
September Chicago PMI 60.4 vs 54.0
YMSeptember 30, 2011
YM falling faster.
ECONXSeptember 30, 2011
August Personal Income -0.1% vs +0.1% -
August Personal Spending +0.2% vs +0.2%-
August PCE Prices- Core M/M +0.1% vs +0.2%
S&P futures vs fair value: -9.60. Nasdaq futures vs fair value: -21.30.September 30, 2011
Stocks head into Friday with a weekly gain of about 2%, but that is expected to be challenged by sellers who have already dragged down stock futures in premarket trade. The weakness comes mostly in response to selling abroad, where traders have reacted to some disappointing data. Still, the selling pressure arguably makes for an appropriate conclusion to the third quarter, which has seen the stock market decline by about 12%. Stocks haven't suffered such a nasty quarterly loss since the fourth quarter of 2008. While premarket pressure is substantial, stocks could experience some swings as traders and investment managers make some end-of-quarter portfolio moves. Domestic data could also play a role in today's action. Personal income and spending numbers are due at the bottom of the hour, followed by Chicago PMI at 9:45 AM ET and the final reading on consumer sentiment for September from the University of Michigan at 9:55 AM ET.
Reuters reports that U.S. criminal authorities are investigating accounting irregularities at Chinese companies listed on U.S. stock exchangesSeptember 29, 2011
The story does not mention which Chinese companies or auditors the Justice Department may be targeting.
SAIC agrees to $20 mln settlement on Navy billingSeptember 29, 2011
SAI agreed to pay the government $20.4 million to settle charges it colluded with two government employees to gain a lucrative support contract.
Market selloffSeptember 29, 2011
YM and NQ NOSE DIVING
Cell phones on airplanesSeptember 29, 2011
Airplanes are one of the only places it seems, where talking on a mobile phone is banned - maybe not for long. As part of the re-authorization bill for the Federal Aviation Administration, a key House committee would require an impact study on the use of vocal communications during flight.
Dell to unveil thin, high performance laptopSeptember 29, 2011
Dell plans to release new thin, high-performance laptop for the holiday season. The new laptop, dubbed the XPS 14z, is a follow-up to the company's 15-inch notebooks and includes a screen that measures 14 inches diagonally while packed into a 13-inch form factor. The computer is less than an inch thick and has about seven hours of battery life with normal use.
Bank of America to charge $5/mth debit card feeSeptember 29, 2011
Bank of America Corp. plans to charge customers a $5 monthly fee for making debit card purchases starting early next year, according to an internal memo sent to bank executives Thursday.
Raymond JamesSeptember 29, 2011
Raymond James told to repay customers $1.7 million. The Financial Industry Regulatory Authority ordered Raymond James Financial Inc and a subsidiary - to pay back $1.69 million to more than 15,500 investors for "unfair and unreasonable commissions on securities transactions," the authority said.
House approves stopgap spending billSeptember 29, 2011
A bill to keep the federal government running until Tuesday passed the House of Representatives, averting a partial shutdown. House lawmakers approved the bill, which the Senate cleared on Monday, by unanimous voice vote. The bill paves the way for a vote next week on a separate stopgap bill that funds the government through Nov. 18.
Reuters reports that U.S. criminal authorities are investigating accounting irregularities at Chinese companies listed on U.S. stock exchangesSeptember 29, 2011
The story does not mention which Chinese companies or auditors the Justice Department may be targeting.
S&P futures vs fair value: +20.20. Nasdaq futures vs fair value: +40.00.September 29, 2011
Aggressive selling late in the prior session sent stocks to steep losses, which snapped a three-session streak of gains, but buyers are stepping back in this morning. The accompanying bid has been a strong one, such that the cash market is expected to open with a gain well in excess of 1%. Renewed support comes in response to news that the expansion of the EFSF, which is intended to bolster financial conditions in Europe, has been approved by Germany. Premarket participants have also been encouraged by news that weekly initial jobless claims fell unexpectedly below 400,000 for the first time in more than a month. The final reading on second quarter GDP also showed upwardly revised growth, which actually exceeded what many economists had anticipated.
U.S. jobless claims and revised GDPSeptember 29, 2011
U.S. government will release reports on revised second-quarter growth and new applications for unemployment benefits at 8:30am ET. Jobless claims, are expected to fall to 417,000 from an initially reported 423,000 in the prior week.
RRCSeptember 28, 2011
Tanking!
IOCSeptember 28, 2011
Going strong all day long.
Market selling offSeptember 28, 2011
Stocks taking hard move to the south - all sectors affected
AMZNSeptember 28, 2011
Amazon keeps strutting its stuff, heading for more, higher higs.
SEC delays ruling on new market shock absorbersSeptember 28, 2011
The U.S. Securities and Exchange Commission on Wednesday put off until Nov. 28 a decision on stock exchanges' plan for a new system of shock absorbers to contain market volatility.
IDCCSeptember 28, 2011
heading lower
Stock indices test/pause near first level resistances -- S&P +3, Nasdaq Comp +8September 28, 2011
Noted first level resistance in The Technical Take at 1185/1187 S&P (session high 1184.71) and 2562/2570 Nasdaq Comp (session high 2569). We have seen a first hour test and in recent action a minor pause. The pace and pattern of yesterday's late decline and a continued stall at these barriers allows for further very short term corrective action.
S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +10.50.September 28, 2011
The CRB Commodity Index is currently down 0.8% after a near 3% hike yesterday. Underpinning its pullback, oil prices are down 1.1% to $83.50 per barrel in the first few minutes of pit trade. Their slip follows a 5% spike in the prior session, but precedes the latest weekly inventory numbers, which are due at 10:30 AM ET. Natural gas prices are down 0.6% to $3.85 per MMBtu. That essentially retraces the energy component's 1% gain in the prior session. Precious metals are also under pressure. Specifically, gold prices were last quoted with a 0.2% loss at $1649 per ounce. Gold prices gained almost 4% yesterday. As for silver, it is down 0.9% to $31.25 per ounce following its 5% jump yesterday.
ECONX Reminder:September 28, 2011
Durable Orders, Durable Ordes ex Transportation due out in ~15 mins at 8:30 ET
Floor Talk: Afternoon pullback trims some gainsSeptember 27, 2011
The broad market averages have seen a notable pullback in recent trade, with the Dow giving up about 90 pts over the past 30 minutes. There isn't one single factor responsible for the pullback from highs, but we'd note that it coincides with a few negative headlines after a strong two-day run that had taken the broad market up by roughly 5% since Friday's close. Financials have been one of the weaker sectors amid this afternoon's pullback from highs, after Meredith Whitney cut estimates on GS and MS. While this news was not entirely surprising given the difficult market environment of Q3, it does represent a negative headline for the group. Additionally, and more importantly, the FT ran a story saying "a split has opened in the eurozone over the terms of Greece's second 109 bln pound bail-out"
Additional afternoon downticks for stock indicesSeptember 27, 2011
Dow +214 has slipped more than 100 points off its high, S&P +19, Nasdaq Comp +38
Selling offSeptember 27, 2011
Markets moving deeper - into a selloff?
GS Goldman SachsSeptember 27, 2011
Meredith Whitney cuts GS Q3 estimate to $0.31 from $3.39 (vs $1.13 consensus)
U.S. overseers eye tightening market trading haltsSeptember 27, 2011
The Securities and Exchange Commission also proposed tying such market-wide circuit breakers to the Standard & Poor's 500 stock index, rather than the Dow Jones Industrial Average, after multiple exchanges called for a broader-based reference point for the stoppages.
Consumer confidenceSeptember 27, 2011
As employment expectations slightly improved, consumer confidence ticked higher in September while remaining at low levels, per the Conference Board.
Shanghai subway crashSeptember 27, 2011
A subway train in Shanghai crashed into a train stopped ahead of it, injuring at least 212 passengers.
September consumer confidenceSeptember 27, 2011
September consumer confidence out at 10am ET.
Germany rejects idea of further EFSF expansionSeptember 27, 2011
Steffen Seibert, a spokesman for German Chancellor Angela Merkel, said the European Financial Stability Facility should look exactly as the plan set out on July 21, according to the report.
S&P futures vs fair value: +22.70. Nasdaq futures vs fair value: +35.50.September 27, 2011
Hope for a plan to prop up fiscal and financial conditions in Europe continues to bring buyers back into the market after stocks slumped last week. However, representatives from the European Investment Bank have said that they have not been approached and that they have no plans to be involved in special purpose vehicles connected to the EFSF. Media had been reported otherwise yesterday. Although Europe has played a regular theme in global market activity, it has garnered additional attention in the absence of any meaningful data or market-moving corporate announcements for the past week. Once again, only a dearth of corporate activity has been reported this morning. Data has, so far, been limited to a S&P/CaseShiller 20-City Index for July that slid 4.1% after a 4.5% decline in the prior month. Coming up at 10:00 AM ET is the latest Consumer Confidence Index.
USDCHFSeptember 27, 2011
Tanking USDCHF making bank for traders.
S&P/Case-Shiller Home Price Index Due out at 9am ETSeptember 27, 2011
he home price index of both CoreLogic and the Federal Housing Finance Agency gained 0.8% on a monthly basis.
AmerisourceBergen to buy CVS unit September 27, 2011
AmerisourceBergen signed a deal to buy CVS Caremark TheraCom LLC unit for $250 million, expanding the drug wholesaler's consulting services offerings and pharmacy benefit reimbursement capabilities.
Treasurys fall ahead of 2-year auctionSeptember 27, 2011
Treasury prices fell for a second day, pushing 30-year yields above 3%, as investors shifted back into riskier assets like stocks and commodities and bond traders set up for the first government debt auction since the Federal Reserve's meeting last week.
S&P futures vs fair value: +19.70. Nasdaq futures vs fair value: +30.20.September 27, 2011
Stock futures are up sharply as premarket traders look to extend the prior session's advance. Most participants continue to take their cues from Europe, where aggressive buying has induced a broad-based rally. Improved sentiment there has also helped win support for the euro, which is up 0.6% to $1.359. The idea that plans to stabilize conditions in Europe are coming together has also helped improve the tone surrounding the commodity complex. In turn, oil prices are up more than 3% to almost $83 per barrel ahead of pit trade, while gold prices are up almost 5% to nearly $1670 per ounce. Once again there isn't much in the way of corporate news this morning, although Walgreens (WAG) announced better-than-expected earnings, but there are a couple of doses of data on tap. The latest data on home prices are due with the S&P/CaseShiller Home Price Index at 9:00 AM ET. The Conference Board's Consumer Confidence Index for September is due at 10:00 AM ET.
Dow +101 and S&P +5.5 extend slip off midday/session highsSeptember 26, 2011
Nasdaq Comp -12 stalled shy of its opening high during the bounce into midday.
Bank of Israel September 26, 2011
Bank of Israel cuts interest rate by 25 bps to 3%
CNBC discusses JP Morgan's note out on AAPLSeptember 26, 2011
CNBC discusses the JP Morgan note on AAPL, which they say suggests that AAPL maybe cutting their orders from its Asian supplers for parts for the iPad. The note was specifically about Hon Hai Precision. CNBC says that JP Morgan is trying to play down an earlier note and has told clients they are not cutting iPad estimates and they remain Overweight on AAPL.
Dallas Fed manufacturing gaugeSeptember 26, 2011
The Dallas Fed's general business activity fell in September to -14.4 from -11.4, the fifth month in a row the index of manufacturing was negative. However, many of the sub-components rose, including production and shipments.
Yves Mersch member of the European Central Bank's Governing CouncilSeptember 26, 2011
Doesn't fully rule out interest rate cuts if the euro-zone's economy worsens considerably.
Oil retreats, poised for fourth straight lossSeptember 26, 2011
Lower prices at the pump won't disappoint anyone!
New U.S. home sales for AugustSeptember 26, 2011
Sale of new homes fell in August for the 4th month in a row, indicating that the depressed U.S. housing market shows no signs of recovery.
Window DressingSeptember 26, 2011
With the end of the quarter just days away, Window Dressing will be in order.
Berkshire to buy back stockSeptember 26, 2011
Berkshire to pay prices no higher than 10% premium
GBPUSDSeptember 26, 2011
GBPUSD - making higher highs
Big U.S. banks September 26, 2011
Big U.S. banks post solid pre-open gains
S&P futures vs fair value: +13.60. Nasdaq futures vs fair value: +15.70.September 26, 2011
Stock futures are up nicely this morning. The positive tone comes in conjunction with a rebound by Europe's major bourses, which have rallied to strong gains after a rather weak start to their session. The bounce abroad comes amid the belief that officials may be planning fixes for the region's flagging financial systems and economies. Even still, the euro remains down about 0.3% at $1.349.
New Home Sales Preview: August 2011September 26, 2011
After decreasing from 300,000 in June to 298,000 in July. That would be the fourth consecutive month of declines. Existing home sales beat expectations in the face of poor underlying data. Both the Pending Home Sales Index for July and weekly reports in August for the Mortgage Bankers Association's Mortgage Purchase Index suggested that there would be a decline in sales. It is unlikely that new home sales followed suit. The underlying fundamental remain in stress and home demand remains weak. Since new home sales are measured by signed contracts and not closings, Hurricane Irene may have prevented many contracts from being signed in the latter half of August.
NBA cancels preseason games, calls off trainingSeptember 23, 2011
The National Basketball Association on Friday canceled more than 40 preseason games and indefinitely postponed training camps, a move that increases the chances of lost regular-season games.
ALXN Alexion Pharma announced that Soliris has been approved by FDA for all patients with Atypical Hemolytic Uremic SyndromeSeptember 23, 2011
Co announced that the FDA has approved Soliris for the treatment of all pediatric and adult patients with atypical hemolytic uremic syndrome. The FDA approval of Soliris in aHUS is based on data from two prospective pivotal Phase 2 open-label clinical trials in adolescent and adult patients with aHUS, and a third retrospective study in children, adolescents, and adults with aHUS.
REMEMBER HEADS UP FOR PIECES OF THE SATELLITE THAT WILL CRASH TO EARTH TODAYSeptember 23, 2011
Satellite pieces expected to fall to earth today - some pieces the size of a bus.
Government shutdown threat loomsSeptember 23, 2011
A government shutdown looms in just a week as the Democratic-led Senate prepares to reject a House-passed funding bill on Friday.
VIX Futures Minimum Margins RaisedSeptember 23, 2011
VIX futures margins upped fourth time since August. Chicago Board Options Exchange reported late Thursday it would raise minimum margin requirements for contracts tied to the CBOE Volatility Index, also called the VIX or "fear index." VIX futures are used to construct often-complex bets on swings in the stock market, or to hedge against those swings.
Pepperidge Farm RecallSeptember 23, 2011
Pepperidge Farm Inc. said it was voluntarily recalling about 13,000 cases of 10.2-ounce-box Baked Naturals Sesame Sticks, due to possible presence of small, thin pieces of wire.
FTSE 100September 23, 2011
FTSE 100 drops below 5,000 - under the psychologically-important level
Continued Europe fearsSeptember 23, 2011
U.S. stock index futures declined sharply ahead of opening bell on Wall Street, as international policy makers met on Europe’s debt crisis a day after worries over world growth prospects triggered a global selloff.
S&P futures vs fair value: -11.90. Nasdaq futures vs fair value: -26.50.September 23, 2011
Overseas markets continue to slide as global participants look to dump relatively risky holdings. That has Germany's DAX down 2.6%. Of its 30 members, only Adidas is in higher ground. K+S and HeidelbergCement are at the other end of the spectrum; both are currently wrestling with losses of about 7% or more. France's CAC has fallen to a 2.5% loss as participants apply broad selling pressure. BNP Paribas is the only stock trading with any kind of a gain in the 40-member Index. Britain's FTSE 100 has fallen 2.2% in the final session of the week. Tesco Plc, Centrica Plc, Vodafone (VOD), Admiral Group, Autonomy Corp, and Imperial Tobacco represent its only advancers. In Asia, Hong Kong's Hang Seng slid to a 1.4% loss. Pressure was broad, once again, but global banking giant HSBC (HBC) was an especially heavy drag. China's Shanghai Composite fell 0.4%. ICBC continued to hamper action by falling another 5%. Japan's Nikkei was closed for trade.
DOW SINKINGSeptember 22, 2011
DOW down over 500 points
DIA DowSeptember 22, 2011
-402 sets new low of 10721 near its Aug close low of 10719
New low on sessionSeptember 22, 2011
YM and ES stretching for lower lows on the session
Meg WhitmanSeptember 22, 2011
Meg Whitman to be named H-P CEO after closing bell today
Netflix lining up sale to Amazon?September 22, 2011
Analysts raised his rating on the company, saying Netflix could be setting itself up to sell its online video-streaming business to Amazon.com Inc.
NASA: Satellite won't fall on North AmericaSeptember 22, 2011
While NASA officials are still unsure exactly where a 6.5-ton decommissioned satellite will fall to Earth on Friday, it will not be in North America, the agency said Thursday. The Upper Atmosphere Research Satellite, or UARS, which ceased scientific operations in 2005, is now expected to fall from orbit during the afternoon of Sept. 23, Eastern Daylight Time.
ECONXSeptember 22, 2011
July FHFA Housing Price Index +0.8%; June +0.9%
Conference Board August economic indicatorsSeptember 22, 2011
Conference Board August economic indicators - "continued weak growth" through the fall and winter
DOW sinking by over 300 pointsSeptember 22, 2011
DOW is falling hard on global economic concerns - no sign of pulling back as of yet
SPY S&P -30 slides slightly below its previous Aug low of 1136 -- session low 1135September 22, 2011
A congestive zone below is in the 1130/1128 area.
August leading indicatorsSeptember 22, 2011
August leading indicators, from the Conference Board, out at 10am ET
United Tech to buy Goodrich for $16.5 billionSeptember 22, 2011
United Technologies Corp., the Hartford, Conn., industrial major, agreed to acquire Goodrich Corp. for $127.50 a share cash, or $16.5 billion, the companies said late Wednesday.
Weekly jobless claims fall to 423,000 from 432,000September 22, 2011
New applications for unemployment compensation fell to 423,000 last week from 432,000, the Labor Department said Thursday.
S&P futures vs fair value: -31.90. Nasdaq futures vs fair value: -54.00.September 22, 2011
Negativity stemming from a global sell off has sent stock futures sharply lower this morning, positioning stocks for an extension of their late slide in the prior session. Underwhelming data from Europe and China hasn't helped sentiment. Market participants get another dose with the latest weekly initial jobless claims count at the bottom of the hour. The monthly report on Leading Indicators is due at 10:00 AM ET. Amid the negative sentiment, questions and concerns about global economic conditions have been revived. Of course, the ongoing threat of contagion from the corners of Europe continues to loom. In turn, commodities are being clipped aggressively this morning. Among the more widely watched resources, crude oil futures are down 4.7% to $81.90 per barrel ahead of pit trade. Gold hasn't benefited from any kind of flight to safety; it is down 3.8% to $1740 per ounce. However, the greenback has benefited from strong buying interest; it currently leads a basket of competing currencies by 1.1%. Treasuries are also attracting plenty of bids. Buying has been so strong that the yield on the benchmark 10-year Note is now below 1.80%.
Losses intensify for Europe as U.S. futures tumbleSeptember 22, 2011
Losses for European stock markets increased ahead of the open of U.S. markets, as U.S. futures tumbled in the wake of the previous day's action by the U.S. Federal Reserve.
DownTown Wall StreetSeptember 22, 2011
Markets set for a negative open - jobs data out at 8:30am ET.
European BanksSeptember 21, 2011
European Banks Turn To Asia's Rich For Cash
BACSeptember 21, 2011
Moody's Downgrades Bank of America On Less Probability of US Support
CITIGROUP RebuttalSeptember 21, 2011
Citi: 'We Have Ample Liquidity'
CITIGROUPSeptember 21, 2011
Moody's Outlook On Citigroup Long-Term Sr Rtgs Remains Negative
CRMSeptember 21, 2011
CRM surging higher
QQQ Nasdaq CompSeptember 21, 2011
-0.5 slips into the red for first time this morning -- Dow -46, S&P -6
ChoppySeptember 21, 2011
mildly firmer start for stock indices but early momentum faltering -- Dow -10, S&P -0.15, Nasdaq Comp +14
NFLX Netflix:September 21, 2011
CNBC reporting Janney downgraded NFLX to Sell and cut their tgt to $102
Trading around the flat line ahead of the FedSeptember 21, 2011
Futures are little changed this morning, trading around the flat line ahead of the release of the Fed's latest policy statement at 2:15 ET. S&P futures are -1 and DJ futures are -12. The Fed statement is the key event today, and many expect the central bank to implement new actions aimed at lowering long-term interest rates.
It was quiet overnight in terms of news out of Europe, and the major averages there are giving up some of yesterday's gains (FTSE -0.6% DAX -1.3% CAC -1.1%). In Asia, China saw strong gains (Shanghai +2.7%) while Hong Kong lagged (Hang Seng -1.0%) and Japan finished closer to the flat line (Nikkei +0.2%). The speculation on the outperformance in the Shanghai stems from the thought the PBOC will remain on the sidelines with regard to rate hikes until after the "Golden Week" in early October. Cheap valuations may have also triggered bargain hunting.
UBS rogue traderSeptember 20, 2011
Just how "rogue" was the UBS rogue trader? The alleged $2.3 billion trading fraud suffered by the Swiss bank has exposed a major loophole in the way banks transact exchange-traded funds in Europe, which may have enabled one of its traders to write fictitious trades knowing the banks on the other side wouldn't be required to confirm the deal, according to a person familiar with the situation. Worryingly, there's no immediate prospect this loophole will be closed.
Afternoon retreat continuesSeptember 20, 2011
Dow +61 has slipped 92 points off its high -- S&P +2.3, Nasdaq Comp -14
SECformer general counsel David Becker and MadoffSeptember 20, 2011
Top SEC employee who profited from a Madoff account craft the commission’s position on how to treat Madoff victims,” said Sen. Chuck Grassley, Republican of Iowa. “It’s hard to see how the agency could have let such a major conflict of interest slide.”
Oil rig explodes in Okla,, homes evacuatedSeptember 20, 2011
An oil rig explosion in Watonga, Okla., about 80 miles northwest of Oklahoma City, has forced the evacuation of homes within a two-mile radius of the blast,
S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +14.20.September 20, 2011
With help from Europe's bourses, which have benefited from renewed buying interest after their slump in the prior session, stock futures point to a solid start to trade for Tuesday. The apparent willingness to take on riskier holdings has put pressure on the dollar, which advanced sharply against competing currencies yesterday. Most of the dollar's decline today is due to increased support for the euro, which has been bid higher amid hopes that Greece is close to an austerity plan that will help the country secure financial aid. Those hopes have overshadowed disappointment associated with news that Italy has been downgraded by analysts at Moody's. To be fair, though, speculation about such a decision made its rounds last week, so the announcement wasn't exactly surprising. Although market participants appear more bullish today, gold has garnered some buying interest after its price tumbled almost 2% yesterday. The precious metal was last priced at $1784 per ounce for a 0.3% gain. Meanwhile, Treasuries are down modestly.
USDCHFSeptember 20, 2011
USDCHF soaring to new highs
Netflix September 20, 2011
Netflix shares tumble 1.7% in pre-market trade
S&P futures vs fair value: +7.90. Nasdaq futures vs fair value: +18.00.September 20, 2011
Stocks slashed losses in the prior session with a late rally, but futures encountered renewed pressure overnight in response to news that analysts at Moody's have downgraded the debt of Italy. The decision wasn't a total surprise since speculation over the matter had surfaced last week. A bounce by Europe's bourses has since helped stock futures improve their position, such that a strong start to today's trade looks likely. Corporate news is limited this morning and a light economic calendar features only new housing starts numbers at 8:30 AM ET. Worth noting, though, is that today also marks the start of the FOMC's two-day meeting, which will culminate with the latest monetary policy statement tomorrow afternoon.
U.S. housing starts for AugustSeptember 20, 2011
The government will issue the latest data on U.S. housing starts at 8:30am ET.
GOLDSeptember 19, 2011
London Bullion Market Association is supporting the gold sector's push to have bullion included by the Basel Committee on Banking Supervision in its recommendations of high quality liquid assets commercial banks should hold, which, if successful, will be one of the most significant events for the industry in recent years.
ObamaSeptember 19, 2011
U.S. can't afford special wealthy tax rates
ECONX September NAHBSeptember 19, 2011
Housing Market Index 14 vs 15
GBPUSD September 19, 2011
GBPUSD is tanking
Goodrich (GR) rallied ~$22/shareSeptember 19, 2011
to ~$115 after CNBC reported that United Technologies (UTX) is in talks to buy GR and said the deal could value GR at $110-125/share
Dollar RisesSeptember 16, 2011
The dollar rose against the euro today as news out of Europe left investors nervous about the outlook heading into the weekend.
S&P futures vs fair value: +1.60. Nasdaq futures vs fair value: +3.50.September 16, 2011
Stock futures have recovered from moderate pressure earlier this morning so that the major equity averages now appear poised for a flat start. The tepid tone comes after stocks advanced in each of the past four sessions for a cumulative gain of almost 5%. That stretch ties the market's best streak of gains since five consecutive gains were tied together at the end of June. The positive tone of late has come amid improved sentiment in Europe, where plans of dollar loans to banks have been regarded as a proper step toward stabilizing the precarious fiscal and financial conditions in the region's periphery. Reports have also indicated that a TALF-like program is also being considered in Europe. The notion that Europe's leaders are on the right path has helped the euro rally against the greenback in four straight straight sessions, but it is down 0.5% this morning. Still, the euro is up more than 2% from the seven-month low that it set at the start of the week.
OpenSeptember 16, 2011
Stock futures point toward lower open on Wall Street
USPSSeptember 15, 2011
The U.S. Postal Service announced they are considering closing or combining more than half of its 487 mail processing facilities and slowing mail delivery service, in an effort to return to profitability.
"We simply need fewer facilities to process less mail," said Megan Brennan, the chief operating officer of the Postal Service, at a press conference.
Listeria fearSeptember 15, 2011
Colorado grower recalls cantaloupe over listeria fear
COMDXSeptember 15, 2011
Crude oil breaks above $90 to fresh highs at $90.15; now up $1.20 to $90.11
French banksSeptember 15, 2011
French banks soar after ECB dollar liquidity move
ECB ActionSeptember 15, 2011
European Central Bank said it was coordinating with the Federal Reserve and other central banks to ease U.S. dollar funding stress in the European banking system.
RVBDSeptember 14, 2011
RVBD - new daily High
Facebook September 14, 2011
Facebook said to postopone IPO until late 2012.
Retail Sales - August 2011September 14, 2011
According to the Department of Commerce, retail sales were virtually unchanged in August and were up 0.1%, excluding autos. The Briefing.com consensus estimates called for increases of 0.2% and 0.3%, respectively. In addition, retail sales in July were indicated to be up 0.3% versus the prior report that showed an increase of 0.5%.
The breakdown for August was somewhat mixed, but not a total disaster as some had thought given the weak employment report for August and the plunge in consumer confidence associated with the debt ceiling negotiations. On that score, the market could ultimately find reason to be encouraged by this report.
Weakness was seen in a number of discretionary spending areas, led by a 2.2% decline in miscellaneous store retailers and a 0.7% drop in sales at clothing and clothing accessories stores. Conversely, there was some surprising strength at electronics and appliance stores (+0.5%), as well as at sporting goods, hobby, book and music stores (+2.4%).
Gasoline station sales were up a modest 0.3%.
Commodities Close: Energy and Precious Metals All Perform WellSeptember 13, 2011
Broad buying among commodities helped the CRB Commodity Index climb to a 0.5% gain. It is up only 0.9% this year, though... Among its more widely watched components, oil was a top performer today. Futures contract prices closed with the commodity priced 2.3% higher at $90.21 per barrel. Elsewhere in the energy complex, natural gas prices scored a 2.6% gain by settling pit trade at $3.98 per MMBtu... Precious metals performed well, too. Specifically, gold prices gained 0.9% to close pit trade at $1830 per ounce. Meanwhile, silver settled at $41.19 per ounce for an even stronger gain of 2.4%.
U.S. August budget deficit $134 billionSeptember 13, 2011
The federal government ran a budget deficit of $134 billion in August, the Treasury Department reported Tuesday, $44 billion more than the shortfall recorded in the same month last year. Much of the increase was due to the timing of payments for certain government benefits, Treasury said. The latest monthly figure pushes the year-to-date deficit to $1.23 trillion, $25 billion above where it was in August 2010.
Insulin useful against Alzheimer'sSeptember 13, 2011
A study featured in the online edition of the Archives of Neurology on Tuesday showed that insulin nasal spray may help slow the progression of early-stage Alzheimer's disease. The study, which tracked 104 non-diabetics patients with mild cognitive impairment or mild-to-moderate Alzheimer's disease, showed that those receiving regular doses of insulin performed better on memory tests than those who were given a placebo. The researchers said that while the difference between the two groups was not dramatic, the results warrant further investigation.
Record poverty in 2010September 13, 2011
The 46.2 million people in poverty in 2010 was the largest group for the 52 years that data has been published, the Census Bureau reported Tuesday. The number of people in poverty rose for the fourth consecutive year as the poverty rate climbed to 15.1% -- the highest since 1993 - up from 14.3% in 2009.
TeeteringSeptember 13, 2011
Markets are teetering here w/ potential move lower of Futures.
YMSeptember 13, 2011
YM falling fast
S&P futures vs fair value: +1.10. Nasdaq futures vs fair value: +4.00.September 13, 2011
After being dragged down amid ongoing concerns about conditions in Europe, stock futures have worked their way higher so that a relatively flat start to today's trade appears to be in order. That said, stock futures are an imperfect indicator of opening action, let alone the shape of things to come as trade progresses. No doubt, though, participants will continue to take their cues from Europe, where many of the region's major bourses now sport varied gains. Only a modicum of corporate news and data has been made this morning. Specifically, Best Buy (BBY) posted earnings results that came short of the consensus forecast. That has caused its shares to slip ahead of the open. As for data, no real reaction was made to import and export price action during August. Later today (1:00 PM ET) participants get results from the latest auction of 10-year Treasury Notes. The benchmark 10-year Note is hugging the neutral line ahead of the auction.
$300 million cable to speed London-New York tradesSeptember 13, 2011
A $300 million underwater cable is being laid between London and New York to speed up financial transactions by 6 milliseconds, or about 10%, the Telegraph reports.
ECONX September 13, 2011
August Export Prices ex ag +0.3% ; Prior +0.5%
ECONXSeptember 13, 2011
August Import Prices ex-oil +0.2%; Prior +0.2%
Forex September 12, 2011
Forex slow right now after fairly decent morning.
LULU lululemon athletica: Sales per foot of $1,801; need we say more? tgt raised to $60 at RBCSeptember 12, 2011
RBC is raising their tgt to $60 from $53; they note Q2 results were among the strongest they've seen from any co this reporting season. Comps grew 20%, gross margin expanded 470 basis points, and EPS grew 75%.
CREESeptember 12, 2011
Wunderlich cuts to Sell
EURSeptember 9, 2011
EUR/USD continues to fall
ECONXSeptember 9, 2011
July Wholesale Inventories +0.8% vs. +0.7%
S&P futures now -10 vs. fair value; drop in futures coincides with deterioration in the euro (-0.9% at $1.377) following reports on EU Commissioner Rehn commentSeptember 9, 2011
According to Reuteres, EU'S Rehn said pressures on bank funding not as serious as post-Lehman collapse. There are also reports that ECB Chief Economist Stark will retire.
S&P -14, Dow -127 and Nasdaq Comp -27 slide to new session lowsSeptember 8, 2011
Minor congestion noted in 14:30 update near 1183 is being probed (session low 1183) with the 38% retrace of this week's recovery rally at 1179.
YMSeptember 8, 2011
YM pierced new day low.
SPY S&P +0.2 and Dow +16 join Nasdaq Comp +8 at minor new session highsSeptember 8, 2011
Relative sector strength in recent trade has been noted in: Semi SMH (early leader as well), Software IGV, Disk Drive, Networking IGN, Casino.
YMSeptember 8, 2011
YM on another move higher - making higher highs.
Mortgage ratesSeptember 8, 2011
Mortgage rates hit record lows, 30-year at 4.12%
U.S. Trade Deficit Narrow to its Lowest Level Since April in JulySeptember 8, 2011
The U.S. trade deficit narrowed from $51.6 bln in June to $44.8 bln in July. The Briefing.com consensus expected the deficit to fall to $51.5 bln. The goods deficit decreased by $6.4 bln while the services surplus increased by $0.4 bln. Exports increased by $6.2 bln, from $171.8 bln in June to $178.0 bln in July. Imports declined by $0.5 bln, from $223.4 bln in June to $222.8 bln in July. Export growth was widespread, including a $2.7 bln increase in industrial supplies sales, a $2.2 bln increase in capital goods excluding automotive sales, and a $1.3 bln increase in automotive exports. The decline in imports came solely from the petroleum sector. Petroleum imports fell from $38.0 bln in June to $35.5 bln in July. Nonpetroleum imports increased from $147.8 bln to $149.7 bln on strong demand for automotive products (up $2.9 bln).
WLT soaringSeptember 7, 2011
WLT soaring higher
Peanut ButterSeptember 7, 2011
JM Smucker (SJM) is raising prices an eye-popping 30% on Jiff peanut butter come November, owing largely to a weak peanut crop.
WLTSeptember 7, 2011
WLT tanking
IDCCSeptember 7, 2011
Trying again.
IDCCSeptember 7, 2011
IDCC testing recent high
Fed's Evans saysSeptember 7, 2011
Feds needs to take strong action now, should 'seriously consider' easing policy significantly.
S&P futures vs fair value: +12.40. Nasdaq futures vs fair value: +19.00September 7, 2011
Stock futures are up sharply this morning. The bid marks a continuation of the prior session's intraday climb, which helped the major averages settle at session highs. Strong gains abroad have helped perpetuate a positive tone. Most of Asia's major averages scored strong gains overnight. Japan's Central Bank made no changes to its monetary policy. As for Europe, its major bourses are up sharply amid news that a court in Germany rejected a lawsuit to block the country's participation in European Union bailouts. On the corporate front, Bank of America (BAC) has streamlined its management and operations, establishing co-chief operating officers in the process. Also, Yahoo! (YHOO) has ousted its CEO, Carol Bartz. The economic calendar is relatively light today. It features the latest Fed Beige Book, which contains regional anecdotal data, but is ultimately likely to be just as exciting as it sounds. It is due at 2:00 PM ET.
ECONX BernankeSeptember 6, 2011
In letter, says Fed closely monitoring developments in Europe; Europe credit event could hit many markets, financial firms.
EURUSDSeptember 6, 2011
EURUSD tanking!
YMSeptember 6, 2011
YM could be set for run higher here.
ISM index September 6, 2011
Institute for Supply Management on Tuesday said its service-sector index rose to 53.3% in August from 52.7% in July.
ISM services indexSeptember 6, 2011
ISM services index rises to 53.3% in August - ISM services index had been projected to decline
Gold climbs to record above $1,900 an ounceSeptember 6, 2011
Gold futures climbed Tuesday to trade above $1,900 an ounce as steep declines in the U.S. and overseas stock markets made the metal more attractive to investors.
Rule 48September 6, 2011
NYSE invokes \'rule 48\' to smooth Tuesday open. Rule 48 allows designated market makers on the NYSE to refrain from disseminating price indications ahead of the opening bell. The procedure makes it easier and faster to open stocks on days when trading could be rough.
S&P futures vs fair value: -32.20. Nasdaq futures vs fair value: -42.50.September 6, 2011
Oil prices have dropped a precipitous 3.0% to start pit trade at $83.85 per barrel. Natural gas prices have managed to push up to $3.90 per MMBtu for a 0.8% gain, though. Precious metals are also mixed this morning. Specifically, gold prices are up 1.1% to $1897 per ounce, but silver prices have fallen to $42.30 per ounce for a 1.8% loss. In all, weakness in the commodity complex has the CRB Commodity Index down 1.4% this morning.
Louisiana September 2, 2011
Tropical depression takes aim at Louisiana coast
Hiring grinds to halt in August per U.S. data September 2, 2011
Non-farm payroll employment comes in unchanged in August, the weakest performance since September 2010. The grim report could serve as a catalyst for further Federal Reserve easing
Nonfarm payroll for AugustSeptember 2, 2011
The Labor Department's non-farm payroll report for August is due for release at 8:30 a.m. Eastern.
Nonfarm payroll for AugustSeptember 2, 2011
The Labor Department's non-farm payroll report for August is due for release at 8:30 a.m. Eastern.
Blackboard follow up: Spike attributed to positive newsletter comments regarding pending dealSeptember 1, 2011
Recall that back on 7/1, Blackboard had agreed to be acquired by Providence Equity Partners for $45.00/share in cash or $1.64 bln.
Mortgage rates near record lowsSeptember 1, 2011
As weak economic data persist, mortgage rates remained near record lows in the week ending Sept. 1, Freddie Mac reported Thursday.
August ISM, July construction spendingSeptember 1, 2011
August ISM from Institute for Supply Management and July construction spending coming out at 10am ET
USDCADSeptember 1, 2011
USDCAD could be set for a collapse
YMSeptember 1, 2011
YM on target to keep climbing.
Stock Futures Pull BackSeptember 1, 2011
Investors appeared ready to cash in on recent gains and showed signs of nervousness ahead of data on weekly jobless claims and manufacturing activity out at 8:30am ET.
Weekly jobless claims, productivitySeptember 1, 2011
The U.S. Labor Department is set to release weekly jobless claims at 8:30 a.m.
USDCADAugust 31, 2011
USDCAD powering higher
GBPUSDAugust 31, 2011
GBPUSD heading lower
June factory ordersAugust 31, 2011
June factory orders revised down to 0.4% decline
U.S. factory orders August 31, 2011
U.S. factory orders in July climb 2.4%
USDCHFAugust 31, 2011
USDCHF falling hard - downward trend over past 20 minutes
YMAugust 31, 2011
YM surging after ADP data
August ADPAugust 31, 2011
U.S. August ADP private-sector jobs up 91,000
S&P futures vs fair value: +2.10. Nasdaq futures vs fair value: +5.20.August 31, 2011
Stock futures suggest that market participants are ready to put stocks on the path toward their fourth straight gain, or their seventh advance in eight sessions. The bid comes amid renewed strength in Europe, where the continent's major bourses have all bounced by about 1% or more. A key data point is on its way, though. The August ADP Employment Change, which is due at 8:15 AM ET, is generally regarded as a precursor for the official nonfarm payrolls report on Friday. Also on the calendar are the latest Chicago PMI (9:45 AM ET) and monthly factory orders figures (10:00 AM ET).
Momentary' NYSE glitchAugust 30, 2011
The New York Stock Exchange suffered what it described as a "momentary" glitch Tuesday that interrupted trading and quote processing in 47 stocks. The problem was disclosed in a 1:03 p.m. EDT trader notice in which the exchange operator said its systems had recovered and were "functioning normally." The glitch caused rival Nasdaq OMX Group Inc. /quotes/zigman/86035/quotes/nls/ndaq NDAQ -0.62% briefly to invoke a procedure known as "self-help," which is used to prevent buggy trading from extending to other venues. The self-help declaration, enacted as of 12:59:40 p.m., was lifted at 1:09:27 p.m., according to a Nasdaq notice.
Consumer confidence plungesAugust 30, 2011
Consumer confidence plunged in August as expectations dived, with worsening views on future business conditions, jobs and income, the Conference Board reported Tuesday. The nonprofit organization said its consumer-confidence index fell to 44.5 in August - the lowest level since April 2009 -- from a slightly downwardly revised 59.2 in July.
Case-ShillerAugust 30, 2011
U.S. home prices rose 1.1% in June compared to May but fell 4.5% from the last year, according to the latest S&P/Case-Shiller 20-city composite released Tuesday. Compared to the first quarter, prices rose 3.6%. None of the 20 cities made new lows in June.
Fed's EvansAugust 30, 2011
The Federal Reserve should consider further strong easing moves with the labor market in a recession-like state, said Charles Evans, the president of the Chicago Fed, on Tuesday. "I think we need to do more," Evans said
S&P/Case-ShillerAugust 30, 2011
The S&P/Case-Shiller 20-city composite home price index for June is due at 9:00am ET. Economists increasingly see stabilization in prices, and in May prices were up 1% on the month but down 4.5% over the year.
S&P futures vs fair value: -10.50. Nasdaq futures vs fair value: -15.50.August 30, 2011
The S&P 500 has ascended more than 7% during the course of the past five sessions, but this morning participants are pushing back a bit. In similar fashion, many of Europe's bourses have drifted lower after staging impressive gains in recent sessions. Traders are preparing for data and minutes from the most recent FOMC meeting -- the latest Case-Shiller Housing Price Index will be posted at 9:00 AM ET; the Consumer Confidence Index is due at 10:00 AM ET, and; FOMC meeting minutes will be released at 2:00 PM ET. Gold and Treasuries were out of favor yesterday, but the two safety plays are up this morning. Specifically, gold has rallied to a 1.7% gain at $1823 per ounce while buying in Treasuries has the yield on the benchmark 10-year Note down to about 2.22%. The dollar has also attracted buyers this morning; it was last quoted with a 0.7% gain against a basket of major foreign currencies.
Comments from Fed's EvanAugust 30, 2011
Evans: U.S. economy 'moving sideways' ; I favor strong accommodation at this point ; Job market is recession-like ; I wanted to do more at Aug. FOMC meeting ; Inflation pressures not as strong as feared
YMAugust 30, 2011
YM poised to move lower on negative market sentiment this morning.
OilAugust 29, 2011
Oil futures rallied to $87 after U.S. government data showed a jump in personal spending last month while pending home sales slipped.
TRV 1st hour DIA leaders & laggards:August 29, 2011
Financials (TRV, BAC, JPM) pace the index higher this a.m. with XLF tops in the SPX; HD -0.15% weak in a stronger broad mkt.; NYSE TRIN bullish reading @ +0.58; NYSE A/D +9:1
Personal Spending/IncomeAugust 29, 2011
July PCE inflation index rises 0.4%, or 0.2% core
Higher auto sales boost July spending
Personal spending rose 0.8% in July
Personal income in U.S. climbs 0.3% in July
Foreclosures make up 31% of home salesAugust 26, 2011
Thirty-one percent of home sales in the second quarter were on properties in some stage of foreclosure or sold by the bank, according a report released by RealtyTrac. That’s up from 24% at the same time last year.
QQQ leaders & laggards midday:August 26, 2011
MU, MYL, GMCR, ERTS, FSLR all post solid gains in the index; YHOO, NTAP, VRTX all off 100 basis points in a strong tape; NASDAQ TRIN bullish reading @ +0.43; NASDAQ A/D +3.5:1
YM SoaringAugust 26, 2011
YM on a tear - higher highs.
GBPUSD readyAugust 26, 2011
GBPUSD poised for another move higher
USDCHFAugust 26, 2011
USDCHF is on fire, soaring through the roof.
YM AND NQAugust 26, 2011
Nice runs on YM and NQ
USDCHFAugust 26, 2011
Soaring after Bernanke comments
GBPUSD and EURUSD FallingAugust 26, 2011
Moving lower on Bernanke comments
America’s unemployed can’t wait, Bernanke saysAugust 26, 2011
We cannot afford to stand by idly while millions of Americans remain unemployed or underemployed for years and years, Federal Reserve Chairman Ben Bernanke said Friday. It’s up to Congress and the Obama administration to do something to speed up the sluggish recovery.
MORE Excerpts of Bernanke’s speech at Jackson HoleAugust 26, 2011
On the long-term potential of the U.S. economy: “ This economic healing will take a while, and there may be setbacks along the way. Moreover, we will need to remain alert to risks to the recovery, including financial risks. However, with one possible exception on which I will elaborate in a moment, the healing process should not leave major scars. Notwithstanding the trauma of the crisis and the recession, the U.S. economy remains the largest in the world, with a highly diverse mix of industries and a degree of international competitiveness that, if anything, has improved in recent years. Our economy retains its traditional advantages of a strong market orientation, a robust entrepreneurial culture, and flexible capital and labor markets. And our country remains a technological leader, with many of the world’s leading research universities and the highest spending on research and development of any nation.”
On the recent debt-ceiling negotiations: “ The country would be well served by a better process for making fiscal decisions. The negotiations that took place over the summer disrupted financial markets and probably the economy as well, and similar events in the future could, over time, seriously jeopardize the willingness of investors around the world to hold U.S. financial assets or to make direct investments in jobcreating U.S. businesses. Although details would have to be negotiated, fiscal policymakers could consider developing a more effective process that sets clear and transparent budget goals, together with budget mechanisms to establish the credibility of those goals. Of course, formal budget goals and mechanisms do not replace the need for fiscal policymakers to make the difficult choices that are needed to put the country’s fiscal house in order, which means that public understanding of and support for the goals of fiscal policy are crucial.”
Excerpts of Bernanke’s speech at Jackson HoleAugust 26, 2011
On why the recovery has been slow: “ Historically, recessions have typically sowed the seeds of their own recoveries as reduced spending on investment, housing, and consumer durables generates pent-up demand. As the business cycle bottoms out and confidence returns, this pent-up demand, often augmented by the effects of stimulative monetary and fiscal policies, is met through increased production and hiring. Increased production in turn boosts business revenues and household incomes and provides further impetus to business and household spending. Improving income prospects and balance sheets also make households and businesses more creditworthy, and financial institutions become more willing to lend. Normally, these developments create a virtuous circle of rising incomes and profits, more supportive financial and credit conditions, and lower uncertainty, allowing the process of recovery to develop momentum.
These restorative forces are at work today, and they will continue to promote recovery over time. Unfortunately, the recession, besides being extraordinarily severe as well as global in scope, was also unusual in being associated with both a very deep slump in the housing market and a historic financial crisis. These two features of the downturn, individually and in combination, have acted to slow the natural recovery process.”
On what actions the Fed could take: “ In addition to refining our forward guidance, the Federal Reserve has a range of tools that could be used to provide additional monetary stimulus. We discussed the relative merits and costs of such tools at our August meeting. We will continue to consider those and other pertinent issues, including of course economic and financial developments, at our meeting in September, which has been scheduled for two days (the 20th and the 21st) instead of one to allow a fuller discussion. The Committee will continue to assess the economic outlook in light of incoming information and is prepared to employ its tools as appropriate to promote a stronger economic recovery in a context of price stability.”
YMAugust 26, 2011
Lower lows ahead, looks like backfill.
Hurricane Irene looking extremely dangerousAugust 26, 2011
As Irene nears North Carolina, evacuations have already been ordered, and the Outer Banks will be the first to vacate. The governors of North Carolina, Virginia, Maryland, and New Jersey have already declared states of emergency to prepare for Irene. New York City will decide later today on whether to recommend evacuation for those living in flood-prone coastal sections of the city.
Weak DollarAugust 26, 2011
The dollar weakened slightly against most major rivals Friday ahead of Federal Reserve Chairman Ben Bernanke’s much-awaited speech at Jackson Hole, Wyoming.
Consumer SentimentAugust 26, 2011
Almost a *give me* that data will not be good.
YMAugust 26, 2011
YM is poised to fall lower - potentially nearing release of Consumer Sentiment at 9:55am ET
GBPUSD and EURUSDAugust 26, 2011
Both are moving nicely higher ahead of Consumer Sentiment Index out at 9:55am ET
NYSE vows to keep trading as Irene loomsAugust 26, 2011
The NYSE Euronext is taking steps to prepare for the impact of Hurricane Irene as it approaches the East Coast, but the latest forecasts show the big storm sparing the Big Apple from a direct hit.
U.S. stock futures fall ahead of BernankeAugust 26, 2011
All eyes are on Bernanke...Wall Street remains on high alert for Federal Reserve Chairman Ben Bernanke’s upcoming speech.
Airlines begin canceling flights ahead of IreneAugust 26, 2011
U.S. airlines on Friday began cancelling weekend flights to avoid any lengthy delays ahead of Hurricane Irene.
Hurricane Irene roars past Florida toward NCAugust 26, 2011
Hurricane Irene roared past Florida Friday morning, but the core of the storm is expected to remain well off the coast for now. Irene was earlier downgraded to a category two from a category three storm, though some re-intensification is possible, the National Hurricane Center reported.
U.S. stock indexes fall ahead of BernankeAugust 25, 2011
U.S. stocks slid Thursday after a three-day rise, once weekly jobless claims came in higher and as Wall Street braced for Federal Reserve Chairman Ben Bernanke’s speech the next morning.
Irene to hit Carolina coast on SaturdayAugust 25, 2011
Hurricane Irene is still barreling toward the Eastern Seaboard and could make landfall along the Carolina coast by early Saturday, according to the National Hurricane Center. Currently packing sustained winds of 115 mph, Irene is moving north-northwest from the Bahamas at 14 mph.
Statement expected on French short-selling banAugust 25, 2011
French stock-market regulator Autorite des Marches Financiers said it will issue a statement on the temporary short-selling ban on financial stocks after the market closes today.
CME Group increased margin requirements to trade gold 27%August 25, 2011
Gold futures slumped nearly $50 an ounce Thursday, extending recent sharp losses, after exchange operator CME Group raised margin requirements.
BofA rallies 24% on Buffett's $5 billion stakeAugust 25, 2011
Bank of America Corp. rallied 24% to $8.67 a share in pre-market trades on Thursday after Berkshire Hathaway said it would invest $5 billion in the financial conglomerate.
ECB, BOE extend swap facility agreementAugust 25, 2011
Bank of England and the European Central Bank announced an agreement to extend a temporary liquidity swap facility until Sept. 28, 2012.
Berkshire - BOAAugust 25, 2011
Berkshire is investing $5BILLION in Bank of America
Jobless ClaimsAugust 25, 2011
The U.S. Labor Department is set to release weekly jobless claims at 8:30 a.m. Eastern Time.
CMEAugust 24, 2011
CME Group is ripping higher as move into final half hour of trading.
CRMAugust 24, 2011
Salesforce.com on the move higher, nice trend, aiming for 117 and higher.
With Jobs Elusive, Young Workers Quit LookingAugust 24, 2011
Some 48.8% of young people held jobs in July, the lowest rate for that month based on data going back to 1948, the Labor Department said Wednesday. "The youth labor force...grows sharply between April and July each year," the Labor Department said in its report, "During these months, large numbers of high school and college students search for or take summer jobs, and many graduates enter the labor market to look for or begin permanent employment."
Some 1.7 million more young people had jobs in July than in April, an increase slightly smaller than last summer's 1.8 million increase. In all, 18.6 million people aged 16 to 24 had jobs last month.
Markets teeteringAugust 24, 2011
Markets a teetering around, not doing much. Possibly the fear of Irene starting to lay wake on Wall Street.
Marcellus Shale Holds About 86 Years Gas SupplyAugust 24, 2011
USGS says the vast Marcellus Shale, which underlies parts of eight eastern states, holds some 84 trillion cubic feet of technically recoverable natural gas.
SilverAugust 24, 2011
Silver slides, down 7.1% at $39.25/Oz - attributing to AGQ tanking.
AGQ Continues to SinkAugust 24, 2011
AGQ ProShares Ultra Silver keeps reaching for lower lows, new low of 201.29 and falling.
AGQAugust 24, 2011
AGQ striking new daily low of 208.43.
Libyan Oil Can Fully Recover In 2012August 24, 2011
Libya's oil production could return to full capacity by the end of 2012 depending on its ability to manage a challenging political transition.
SPY Stock indices slip back further off first hour highs -- Dow +4, S&P +0.2, Nasdaq Comp -12August 24, 2011
An intraday jump (+0.5%) in the Dollar Index off its 10 ET low back to it overnight/session high coincided with the start of the intraday stock index pullback. The S&P has slipped just below intraday support mentioned earlier at 1162 (pullback low 1161) with a stronger morning support at 1159/1157. Relative sector weakness on this move has been noted in Energy XLE, Oil Service OIH, Steel SLX, Coal KOL, Reg Bank KRE, Retail XRT, Internet FDN.
Va. nuclear reactors near quake taken offlineAugust 23, 2011
Two nuclear reactors operated by Dominion Resources Inc. in Virginia have been taken offline as a precaution following a rare earthquake.
Saab Auto says may be unable to pay August wagesAugust 23, 2011
Swedish Automobile NV (SWAN.AE), the owner of troubled Swedish car maker Saab Automobile AB, Tuesday said the payment of August wages to Saab Automobile employees could be delayed because some of the funds that were committed by investors may not be paid in time.
D.C. rocked by magnitude 5.9 earthquakeAugust 23, 2011
A 5.9-magnitude earthquake shook Washington, D.C. and Virginia on Tuesday afternoon, according to the U.S. Geological Survey. The quake, which was centered 83 miles southwest of the nation's capital and 41 miles northwest of Richmond, Va., occurred at 1:51 p.m. Eastern. Parts of the White House, U.S. Capitol building and the Pentagon were reportedly evacuated. Originating at a depth of less than a mile, the tremor was widely felt in the D.C. metro area and as far away as New York City.
YM new HODAugust 23, 2011
The trend of the market pushed the YM to a new, daily high.
Richmond Fed gauge at worst level since June 2009August 23, 2011
The Richmond Fed said Tuesday that its manufacturing index slumped to -10 in August from -1 in July, as shipments and new orders declined sharply.
July new home sales fall for 3rd straight monthAugust 23, 2011
Purchases of new home in the U.S. fell for the third straight month in July, the Commerce Department estimated Tuesday. New home sales fell 0.7% to a seasonally-adjusted annual rate of 298,000.
Bank of America hits 52-week low in preopenAugust 23, 2011
Bank of America Corp shares surrendered earlier gains and hit a 52-week low of $6.30 as the pre-open session wound down.
TSL Trina Solar misses by $0.16August 23, 2011
Look out below.
S&P futures vs fair value: +12.90. Nasdaq futures vs fair value: +21.70.August 23, 2011
Stocks started the prior session with a gain of about 2%, but fading strength left the broad market to finish flat. Despite the underwhelming finish, stocks have attracted strong buying interest again this morning. As was the case yesterday, the premarket bid has been partly inspired by a strong bounce by major overseas averages, which have already logged or are on pace for gains in excess of 1%. Buying abroad follows some solid data out of China, Germany, and the broad Eurozone. Gold is taking a breather after it cleared $1900 per ounce to set a new record in electronic trade. The yellow metal is currently down about 0.6% to $1881 per ounce. The dollar is also down this morning. It was last quoted with a 0.6% loss against a basket of major foreign currencies. Earnings announcements continue to dwindle and today's calendar of events is relatively sparse. Data are limited to monthly new home sales numbers at 10:00 AM ET. Results from an auction of $35 billion in 2-year Notes will be posted at 1:00 PM ET. Treasuries are currently under modest pressure.
Mortgage delinquencies rise in Q2August 22, 2011
Mortgage delinquencies rose in the second quarter, a development that reflects the deterioration of the job market per the Mortgage Bankers Association. The delinquency rate for mortgages on one-to-four unit residential properties reached a seasonally adjusted 8.44%, up from 8.32% in the first quarter, yet still down 9.85% when compared with the second quarter of 2010.
S&P futures vs fair value: +21.20. Nasdaq futures vs fair value: +43.20.August 22, 2011
Gold prices are currently up 0.7% to $1865 per ounce after they came within only a couple of dollars of $1900 per ounce to set a new record high in early-morning electronic trade. One year ago the precious metal was a few dollars shy of $1230 per ounce. As for silver, the precious metal moved up to a multi-month high above $44 per ounce this morning, but it now trades at $42.82 per ounce for a 0.9% gain. In the energy complex, crude oil futures have yet to open pit trade, but the component is currently quoted with a 1.5% gain at $83.65 per barrel. Meanwhile, Brent oil prices were last quoted with a loss of about 1.2% at $107.30 per barrel. The spread between Brent and WTI has narrowed in the wake of news that Libyan rebels have entered their country's capital in an effort to usurp control. Natural gas prices are down 0.9% to $3.90 per MMBtu. Overall, though, action in the commodity complex has the CRB Commodity Index up a healthy 0.5%.
July Chicago Fed index shows improved activityAugust 22, 2011
The Federal Reserve Bank of Chicago's national activity index improved to negative 0.06 in July from negative 0.38 in June. The gain was led by improvements in production-related indicators. A three-month average of the Chicago Fed's national index of economic activity rose to a negative 0.29 from negative 0.54 in June. The data show less risk of a recession.
Moody’s Investors Service’sAugust 19, 2011
A former senior analyst submitted a revealing tell-all breakdown of life as a Moody’s employee to the SEC last week, complete with tales of coercion and conflict which render Moody’s “useless at best and harmful at worst".
GoogleAugust 19, 2011
Google ites were the most-read on the Web in July, with 182.3 million visitors. Yahoo! sites were second with 177.6 million visitors, followed by Microsoft sites, which drew 174.3 million.
U.S. Stocks Meander August 19, 2011
U.S. stocks meandered between gains and losses on Friday as Wall Street’s fixation on the European Union and its banks continued.
U.S. Stocks Reverse LossesAugust 19, 2011
U.S. stocks reversed course Friday, turning higher and reducing weekly losses, as fixation on the European Union and its banks continued.
Treasury prices fallAugust 19, 2011
Treasury prices fell slightly, pushing yields up from all-time lows, as traders take a quiet morning to readjust positions and their outlook for the global economy.
S&P futures vs fair value: -13.20. Nasdaq futures vs fair value: -17.00.August 19, 2011
Equity futures are pointing to a sharply lower open as the Dow trades down 120 points versus fair value on worries of a global economic slowdown and the lingering European sovereign debt crisis. The weakness comes despite corporate earnings in the United States continuing to exceed forecasts. Gap (GPS), Marvell (MRVL), and Salesforce.com (CRM) all beat on both the top and bottom lines. Another record setting day for gold saw the yellow metal climb to near $1880 per ounce before easing to its current $1860. Meanwhile, Treasuries are holding slight losses despite the weakness in equities. The 10-yr yield is higher by a couple of basis points at 2.092%.
Brocade Color on QuarterAugust 19, 2011
RBC is lowering their tgt to $4 from $6; after preannouncing disappointing results, Brocade is maintaining the reduced consensus outlook. For F4Q11, Brocade is endorsing revs between $520 and $540 mln (+3% to +7% QoQ), making the midpoint in line with consensus of $530 mln. Brocade is assuming a normal seasonal uptick in the federal vertical for 4Q11 and a further sequential decline in weeks of OEM inventory to about 1-1/2 weeks. BRCD is trading below book as its book value/share is now $4.35/share.
Wunderlich notes BRCD reported 3Q11 earnings in the upper end of the pre-announced (April 5) guidance range. Ethernet performance exceeded their expectations and reflects improving execution. Customer breadth for new Ethernet fabric technology is progressing and so is penetration of the router market, as illustrated by 70% growth in Service Provider sales. Storage networking appears likely to remain a drag on rev expansion, but, the progress in Ethernet justifies waiting out the cycle, especially at a P/E that is less than 8x. They maintain Buy rating and tgt of $6.00, which is 14x 2012E, but about half the growth rate forecasted for H212.
* BRCD is at $3.35 in the premarket.
Dollar turns down as stock futures pare lossesAugust 19, 2011
The dollar turned down against the euro in early U.S. trading Friday as U.S. stock futures pared their losses, which currency traders took as an indication that investors may not be so risk-averse after the prior session’s dramatic moves.
H-P backing from tablet marketAugust 19, 2011
HP cut its full-year sales outlook and said it was abandoning efforts to compete in the tablet and smartphone market
Gold ends at record $1,822 on growth fearsAugust 18, 2011
Gold futures settled at a record $1,822 an ounce as fears of a global economic slowdown gripped markets and the day’s macroeconomic reports gave such worries even more weight.
H-P cuts sales view, reports ahead of scheduleAugust 18, 2011
Hewlett-Packard cut its full fiscal-year revenue forecast as it posted preliminary results for its fiscal Q3 ahead of its earnings announcement after the closing bell.
DOJ probe involves S&P, other rating firmsAugust 18, 2011
The Justice Department is investigating Standard & Poor's and other credit-rating firms for their role in developing mortgage-bond deals that helped trigger the financial crisis.
HP HaltedAugust 18, 2011
Hewlett-Packard shares halted for news pending -3:01pm ET
Brain-eating amoeba death roll risesAugust 18, 2011
A deadly brain-eating amoeba has claimed another victim, bring the summer's tally to three so far, according to public health officials. The deceased was a Louisiana man in his early 20s who died in June after rinsing his sinuses with tap water, reports the New York Daily News Thursday. News of his death comes following the two other highly-publicized fatalities of a 9-year-old Virginia boy and a 16-year-old Florida girl. Those two died after contracting meningoencephalitis following swims in stagnant water where the killer bug, known as Naegleria fowler, is thought to thrive.
Florida home, condo sales up 12% in JulyAugust 18, 2011
Florida existing home sales rose 12% in July over the same month a year ago, according to the latest housing data released by Florida Realtors. Existing condominium sales were up by the same percentage. The biggest increase came in the Tallahassee market, where home sales jumped 57%.
Mortgage rates hit record lowsAugust 18, 2011
Mortgage rates reached record lows this week, following the Federal Reserve’s policy statement last week and continued concerns over the European debt market.
Philly Fed’s factory index in August freefallAugust 18, 2011
The Philly Fed’s business outlook survey fell to negative 30.7 in August from 3.2 in July. This is the lowest reading since March 2009.
Volatility at it finest for traders today.August 18, 2011
Trading activity was fast and furious amidst the selloff across the boards. While the Dow Jones Industrial Average fell more than 500 points in early morning trading, day traders and short term traders were reaping the benefits of shorting stocks, futures and forex.
Factory activity weakens sharply in PhiladelphiaAugust 18, 2011
Manufacturing activity weakened sharply in the Philadelphia region in August, the Philadelphia Federal Reserve reported Thursday. The bank's business condition index fell to negative 30.7 in August from 3.2 in July. This is the lowevel level since March 2009.
President Obama calls for Syria's Assad to step downAugust 18, 2011
President Barack Obama early Thursday called for embattled Syrian President Bashar al-Assad to step down and the immediate freezing of all Syrian assets under U.S. jurisdiction. The move comes as Assad faces harsh criticism from global leaders over a brual government crackdown on pro-democracy protestors in his nation. "We have consistently said that President Assad must lead a democratic transition or get out of the way. He has not led. For the sake of the Syrian people, the time has come for President Assad to step aside," said Obama, in a statement. Obama also issued an executive order calling the freezing of Syrian assets, the prohibition of U.S. citizens from conducting business with the Syrian government, and a ban on the import of Syrian-origin oil and petroleum products.
ECONX Reminder:August 18, 2011
Existing Home Sales, Philadelphia Fed, Leading Indicators due out in ~10 mins at 10:00 ET
DATA OUT AT 10AM ET Home sales, Philly Fed, LEIAugust 18, 2011
Data on the sales of existing homes in July are due for release at 10 a.m. from the National Association of Realtors.
Jobless claims rise 9,000 to 408,000August 18, 2011
The number of initial claims in the week ending Aug. 13 rose 9,000 to 408,000, the Labor Department. The four-week average fell 3,500 to 402,500. The number of people who continued to receive state unemployment checks increased by 7,000, to 3.7 million, in the week of Aug. 6. Continuing claims are reported with a one-week lag
Gold settles at record, six dollars from $1,800August 17, 2011
Gold futures settled at a record Wednesday as investors continued to seek the metal amid worries about a potential global slowdown.
President Obama Says Will Provide Deficit Plan With More Cuts Than TaxesAugust 17, 2011
President Barack Obama on Wednesday said he will present a key congressional committee with a deficit-reduction plan that includes more spending cuts than revenue increases.
Free Chat RoomsAugust 17, 2011
Register now to our Free Chat Rooms for after hour market chat - Penny Stocks, Options, Stocks, Forex and Futures. http://www.millennium-traders.com/freechatrooms.aspx
S&P futures vs fair value: +4.70. Nasdaq futures vs fair value: +4.30.August 17, 2011
Stock futures have eased back a bit in the wake of the latest producer price data. Overall producer prices increased by 0.2% during July. That came as a bit of a surprise since the consensus among economists polled by Brieifng.com had called for no change. The month before, prices had actually fallen 0.4%. As for core prices, they spiked 0.4%, which exceeds the 0.2% increase that had been broadly anticipated after a 0.4% increase in the prior month.
PPIAugust 17, 2011
US Jun PPI Unrevised At -0.4%;
US Jul Passenger Car Prices +0.2%;
US Jul PPI Crude Goods -1.2%; Core +0.7%;
US Jul PPI Ex-Food & Energy +0.4%; Consensus +0.2%;
US Jul PPI Intermediate Goods +0.2%; Core +0.2%;
US Jul Producer Prices +0.2%; Consensus +0.1%
President Barack Obama to help rural communitiesAugust 16, 2011
Obama said he is preparing a new economic plan to boost the economy to present to Congress next month. “I’ll be putting forward, when they [Congress] come back in September, a very specific plan to boost the economy, to create jobs, and to control our deficit. And my attitude is, get it done,” Obama said.
DELLAugust 16, 2011
Dell is forecasted to report a 53% jump in second-quarter earnings to 49 cents a share
Gold Record LevelAugust 16, 2011
Gold futures finished at a record level Tuesday after climbing $27 an ounce as investors remained on the defensive following weakness in global stock markets and disappointing data on European economic growth.
SPY S&P -5 and Dow -30 set new intraday bounce highs -- Nasdaq Comp -17 flirts with its mid-morning highAugust 16, 2011
Recent sector relative strength has been noted in Retail XRT, Housing XHB, Finance XLF, Airline FAA, Casino, Materials XLB, Coal KOL.
Proliferation of “Death CrossesAugust 16, 2011
The death cross is a bear-market indicator formed when the 50-day moving average crosses the 200-day moving average in a downward trajectory - they are all over the place right now.
US AAA RatingAugust 16, 2011
Fitch Ratings reaffirmed Monday its AAA rating on the U.S. but cautioned Congress that failure to reach a deal to cut the federal budget deficit could start the ball rolling toward a downgrade.
Further upticks off early lows for stock indices -- Dow -48, S&P -8, Nasdaq Comp -22August 16, 2011
Noted earlier that the indices pulled back to yesterday's midday lows and stabilized. Some additional upticks off this zone has been noted in recent action with relative sector strength on the move (outperforming the S&P) noted in Biotech IBB, Housing XHB, Retail XRT, Reg Bank KRE, Airline, REITs IYR, Gold Miners GDX, Silver SLV, Solar TAN, Steel.
Building permitsAugust 16, 2011
Building permits in July 2011 were 597,000, down 3.2 percent from June and up 3.8 percent from July 2010. Housing starts were 604,000, down1.5 percent from the prior month and up 9.8 percent from the prior year.
Cap Utilization and Industrial OutputAugust 16, 2011
July capacity utilization highest since Aug. '08 ; July capacity utilization 77.5% vs. 76.9% June; July output at factories alone up 0.6%; July industrial output in line with expectations; July industrial output gain highest since Dec; U.S. July industrial output up 0.9%.
Housing startsAugust 16, 2011
Housing starts fell to a seasonally adjusted annual rate of 604,000, down from a downwardly revised 613,000 rate in June, per Commerce Department.
Weather-Induced Surge in Housing Starts in June Cannot Be Sustained in JulyAugust 16, 2011
Housing starts fell 1.5% in July, dropping from 613,000 in June to 604,000. The Briefing.com consensus expected starts to fall to 608,000. Single-family starts fell from 447,000 in June to 425,000 in July. Multi-family starts increased from 160,000 in June to 170,000 in July. Typically, single-family starts follow a stable trend. Thus, the nearly 5% drop in July confirms anecdotal reports from April and May that poor weather caused a delay in many construction projects until June. The July single-family starts level fell back to its previous three-month average. Multi-family starts, on the other hand, are notoriously volatile and the increase in these starts are more likely random fluctuations. It would not be surprising to see these starts tumble next month while single-family starts remain near their current level. After a brief respite in June where the number of homes currently under construction increased for the first time since May 2006, builders returned to a downward moving trend in July. The number of homes currently under construction fell from 416,000 to 413,000. This is the lowest level in the history of the dataset. The drop in the number of homes under construction suggests that builders believe that inventory levels remain too high for near-future demand.
Industrial ProductionAugust 16, 2011
The Federal Reserve is due to release its estimate for July industrial output at 9:15am Eastern time.
Import pricesAugust 16, 2011
Import prices were higher by 0.3% in July, the Labor Department reported today.
Housing dataAugust 16, 2011
June building permits revised down to 617,000; Building permits fall 3.2% to 597,000 in July; July single-family starts down 4.9% to 425,000; June housing starts revised down to 613,000 ; Housing starts fall 1.5% to 604,000 in July.
Berkowitz\'s Fairholme Capital discloses Q2 portfolio holdings last night.August 16, 2011
New positions in JEF & AGO, increases stake in AIG, cuts position in MS.
New positions in JEF (~4.1 mln shares), AGO (~1.5 mln)
Liquidates CSCO (~35.8 mln)
Increases in AIG (~103.2 from ~44.2 mln), MBI (~46.8 mln from 41.3 mln)
Decreases in MS (~12.0 mln from ~38.9 mln)
Dennis Lockhart, president of the Atlanta FedAugust 15, 2011
The risks of recession are higher than a month or two ago, but the U.S. economy should grow in the second half of the year and into 2012, according to Dennis Lockhart, president of the Atlanta Fed, who becomes a voting Federal Open Market Committee member next year.
Gold climbs, poised to break losing streakAugust 15, 2011
Gold futures climbed this morning, with weak U.S. economic data and declines in the dollar providing some support, while rising risk appetite lured some bargain-hunting investors out of their defensive shells and into the equities market, capping the metal’s gains.
Today's biggest point gainers/losersAugust 15, 2011
Biggest point gainers: IDCC (59.49 -16.23), EL (93.21 -7.64), BIDU (144.33 -5.82), NFLX (238.89 -5.11), AZO (283.38 -4.23), TVIZ (52.94 -3.64), CVOL (39.98 -3.52), APEI (39.62 -3.17), BDMS (16.12 -2.76), CMG (315.18 -2.52), ROSA (46.30 -2.49), ULTA (57.00 -2.39), ISRG (344.52 -2.31), STRT (20.69 -2.27), PCP (150.11 -2.26), AMZN (200.05 -2.25), RTSA (51.76 -2.03), BXDB (87.60 -1.88), CVCO (29.53 -1.88), PSMT (55.13 -1.86), FOSL (91.51 -1.85), DTO (61.74 -1.83), SFSA (47.01 -1.80), TVIX (37.94 -1.80), WPO (355.28 -1.76)
Biggest point losers: WLL-A (242.08 +13.83), MKL (381.22 +9.63), CEO (195.51 +9.37), CRR (146.78 +6.62), AAPL (382.65 +5.66), RAH (83.80 +4.78), FITB.P (126.22 +4.12), OIH (136.83 +4.06), WBK (110.97 +3.94), BXUC (121.71 +3.73), NOV (70.47 +3.69), RTLA (46.37 +3.62), NVO (112.13 +3.53), PTR (126.21 +3.51), VMW (94.08 +3.42), VRUS (128.36 +3.33), CLB (110.24 +3.32), LUFK (71.75 +3.23), IBM (171.43 +3.23), LFUS (45.36 +3.18), DDS (44.46 +2.95), CKH (93.32 +2.87), SM (79.10 +2.81), UFS (73.17 +2.79), BRY (51.42 +2.77)
PZG Paramount Gold and Silver announces positive results from sleeper waste dump drillingAugust 15, 2011
Co completed this work as part of its ongoing evaluation of historically mined materials that could be amenable to reprocessing. Drill holes were distributed across the three dumps and drilled to the base of the dump with total depths ranging between 16 meters and 43 meters and averaging 29 meters. Samples were collected on 1 meter intervals, with assays from these samples ranging up to 1.51 g/t Au. The North waste dump returned the most consistent results with drill hole 9 containing 19 meters of 0.60 g/t Au.
Buffett calls for higher taxes on mega richAugust 15, 2011
Billionaire investor Warren Buffett is calling on Congress to crank up the tax rate on the mega-rich claiming that many only pay around 15% income taxes due to various taxation loop-holes, which is unfair to middle-class workers.
Home builder sentiment stuck at low level in AugustAugust 15, 2011
The National Association of Home Builders/Wells Fargo home market index remained at 15 in August, on a seasonally adjusted measure where readings over 50 are considered “good,” which hasn’t been the case since April 2006.
AAPL Apple initiated with a Buy at Hilliard Lyons; tgt $475August 15, 2011
Hilliard Lyons initiates AAPL with a Buy and price target of $475 saying they view the release of OS X Lion, the expected fall release iOS 5 and iPhone 5 as extremely positive for shareholders.
NAHB August 15, 2011
Aug. NAHB home builder index stays at 15
EURUSD & GBPUSDAugust 15, 2011
EURUSD & GBPUSD at HOD!
EURUSDAugust 15, 2011
On the move higher
GBPUSDAugust 15, 2011
Could be ready for a move higher
Empire State Index AugAugust 15, 2011
Aug. Empire State index remains below zero
Empire State indexAugust 15, 2011
Aug. Empire State index -7.7 vs. -3.8 in July
Capital OneAugust 15, 2011
Capital One July credit card delinquencies rise
MMI Motorola Mobility to be acquired by Google (GOOG) for $40/share in cashAugust 15, 2011
Google (GOOG) and MMI announced that they have entered into a definitive agreement under which Google will acquire Motorola Mobility for $40.00 per share in cash, or a total of about $12.5 billion. The transaction was unanimously approved by the boards of directors of both companies. Motorola Mobility will remain a licensee of Android and Android will remain open. Google will run Motorola Mobility as a separate business. The transaction is expected to close by the end of 2011 or early 2012.
Be an investor or a trader, but not bothAugust 14, 2011
BOSTON (MarketWatch) — There’s a simple lesson for mutual fund investors traveling the stock market’s wild road these days: Pick a lane.
In the slow lane are investors, concerned about road conditions but confident in their ability to reach their destination. In the fast lane are traders, anxious to move around, pass others and maneuver any way they can to reach their destination faster.
The drivers who can’t decide if they are going to be traders or investors — the ones who are weaving and cutting in and out or riding the center line taking up space in all lanes — they’re acting like they don’t know where they are going or how to get there.
To modify an old market axiom: traders make money, investors make money, but wafflers get run over.
Berkshire enters talks with TransatlanticAugust 13, 2011
Transatlantic Holdings Inc. /quotes/zigman/242672/quotes/nls/trh TRH -0.28% on Friday said Berkshire Hathaway Inc. (BRKA, BRKB) unit National Indemnity Co. has signed off on a confidentiality agreement that will likely heat up competition for the reinsurer.
The move is significant given Berkshire's reputation for disdain of bidding wars over companies. Transatlantic called the terms of its arrangement with National Indemnity "substantially similar" to its confidentiality agreement with another bidder, Allied World Assurance Co. /quotes/zigman/3001209/quotes/nls/awh AWH -1.34% , including a customary standstill provision.
The reinsurer had already agreed in June to a stock-for-stock deal currently worth about $3 billion with Allied World. As part of that merger agreement, Transatlantic had to wait three business days from its response to the offer before it could begin talks with National Indemnity.
Transatlantic on Monday said National Indemnity's offer of $52 a share was likely to lead to a "superior proposal" to its existing merger agreement with a competitor, but wasn't itself a superior proposal.
Transatlantic shares were recently off a penny at $50.12 after hours. Berkshire's B shares were up 0.4% at $71.55.
ECONX DATAAugust 5, 2011
ECONX July Unemployment Rate 9.1% vs 9.2% ECONX July Nonfarm Private Payrolls +154K vs 100K ECONX July Nonfarm Payrolls 117K vs 84K ECONX July Hourly Earnings +0.4% vs +0.2%
|
|
Top of the page | |
| |
Total for Year |
Last Week |
$207,545.00 |
$15,148.00 |
|
| |
Total for Year |
Last Week |
$54,280.00 |
$7,557.50 |
|
| |
Total for Year |
Last Week |
$477,923.89 |
$44,196.66 |
|
| |
Total for Year |
Last Week |
$395,980.00 |
$47,570.00 |
|
| |
Total for Year |
Last Week |
$0.00 |
$0.00 |
|
|
|
