The Latest Posts
November 25, 2014
NYSE MAC Desk
Nov 25 2014 | 11:21 AM

From The Trading Floor: Stocks are fluctuating this morning after reaching all-time highs yesterday, as GDP rises for November while consumer confidence slipped.

  • GDP for the 3rd quarter rose to 3.9% on higher consumer spending

  • The Home Price Index for September rose at a slower pace than expected. Home prices in 20 US. cities increased 4.9%  from September 2013

  • Stryker is considering making a bid for medical device manufacturer Smith & Nephew (NYSE:SNN) as a standstill period that prevents it from making an offer nears its end

  • Consumer Confidence declined to 88.7 for November from 94.1 the previous period

  • The Richmond Fed Manufacturing Index fell to 4 for November from 20 during October

  • China is considering a broad ban on smoking, including tobacco advertising, smoking in public places and cutting smoking scenes in film and TV

  • Resistance...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 24 2014 | 10:59 AM

From The Trading Floor: Equities are getting a follow on boost from Friday's action as confidence in the global economy grew amid support from central banks

  • Chicago Fed National Activity Index for October came in at 0.14, lower than the revised 0.29 the previous month

  • Markit Services PMI came in at 56.3 for November with the Composite coming in at 56.1

  • Biomarin Pharm (BMRN) is acquiring Prosensa Holding (RNA) for $17.75 per share, representing a 55% premium to Friday's closing price. Cimatron (CIMT) is being acquired by 3D Systems (DDD) for $8.97 per share in cash, or a total of $97 million.

  • U.S. imports of crude oil from OPEC nations are at their lowest level in almost 30 years, reports FT, underlining the impact of the shale revolution and advances in hydraulic fracturing.

  • Dallas Fed Manufacturing Activity is at 10:45

  • Chinese stocks rallied today, following the POBC's...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 21 2014 | 11:05 AM

From The Trading Floor: Additional stimulus measures signaled by China and Europe have US equity markets trading at record levels, on target to finish a 5th week of gains

  • The People's Bank of China lowered its one‐year benchmark lending rate for the first time in two years by 40 basis points to 5.60% and its one‐year benchmark deposit rate 25 basis points to 2.75%.

  • ECB President Draghi made a comment earlier today that eurozone inflation has become increasingly challenging and that the central bank is ready to act fast and do more if current trends continue.

  • President Obama has outlined plans to use executive authority to help millions of illegal immigrants, granting them the chance to apply for work permits and a temporary reprieve from deportation. "I will make it easier and faster for high-skilled immigrants, graduates and entrepreneurs to stay and contribute to our economy, as so many business leaders have proposed...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 20 2014 | 11:10 AM

From The trading Floor; Equities are trading in negative territory this morning as weaker manufacturing data in the Eurozone and China showed signs of a global economic slowdown despite the positive economic data domestically today

  • The cost of living was little changed in October, reflecting a drop in energy prices that has yet to filter through to other goods and services. There was no change in the consumer price index following a 0.1 gain the prior month. Stripping out food and energy prices, the so-called core CPI rose 0.2% last month

  • Fewer Americans filed for unemployment benefits last week as the need to retain staff as we enter the holiday season keeps layoffs at bay. Jobless Claims fell by 2000 to 291,000 in the week ending November 15.

  • Bloomberg Consumer Comfort for the period ending November 16th came in at 38.5, slightly above the 38.2 the previous period and the highest level since January. 

    ...
Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 19 2014 | 11:07 AM

From The Trading Floor: After the major indexes extended their records yesterday, equities are in mild decline this morning after data showed housing starts declined in October and ahead of the FOMC minutes to be released at 2:00 this afternoon

  • Mortgage Applications for the period ending 11/14 increased by 4.9%

  • Housing starts declined 2.8% from September to an annualized rate of 1.009 million units. September starts were revised higher to 1.038 million from 1.017 million and that single‐family starts in October jumped 4.2% to 696,000

  • Building Permits showed a 4.8% increase from September to an annualized rate of 1.080 million. The number of homes currently under construction increased 1.4% to 802,000. 

  • Federal Reserve releases minutes at 2:00 from its most recent policy meeting that could yield clues on when and how the central bank will start its first rate hike cycle

  • Paramount Group (...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk