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juillet 30, 2014
NYSE MAC Desk
juil 30 2014 | 10:32 AM

From The Trading Floor: While the markets jumped out of the gate in positive territory due to strong earnings and economic reports, they have recently given back all of their gains as a much better GDP report has rile speculation that the Fed could hike rates sooner

  • Mortgage Applications for the week ending July 25th fell -2.2%

  • ADP Employment (private sector) rose by 218,000 for July, less than the 230,000 expected

  • GDP jumped by 4.0% for the 2nd quarter significantly higher than the revised -2.1% the previous period

  • The FOMC rate decision is at 2:00 pm EST. The Fed is likely to go forward with its plan to wind down its bond-buying stimulus today, cutting its monthly asset purchases to $25B from $35B - on target for shutting the program this fall

  • AstraZeneca has closed on a deal to purchase the rights to lung drugs developed by Almirall, expanding the drug-maker's...

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Posté par: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
juil 29 2014 | 10:09 AM

From The Trading Floor: Strong earnings from sector bellwethers have investors optimistic over second quarter earnings season ahead of the Fed meeting and some key economic readings on the economy

  • Home Prices rose in the 12 months ending May at the slowest pace in more than a year as there has been a lull in the housing market. The CaseShiller index of property values in 20 cities throughout the US. Rose 9.3% from May 2013 after rising 10.8% the previous period. 

  • Consumer Confidence for the month of July came in at 90.9 vs. 85.4 expected

  • Pfizer reported higher-than-expected second-quarter earnings, helped by growing sales of its cancer medicines.

  • Merck reported better-than-expected quarterly results, with sales of newer drugs mostly offsetting declining sales of drugs facing generic competition.

  • Argentina has sent a delegation to meet with court-appointed mediator Daniel Pollack in NY...

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Posté par: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
juil 28 2014 | 10:17 AM

From The Trading Floor: Equities turned lower this morning as a flurry of M&A activity could not overturn investor’s hesitation in front of a heavy week of earnings and economic reports

  • Dollar Tree will acquire Family Dollar for $74.50 in cash and stock

  • U.S. real estate website operator Zillow said it would buy smaller rival Trulia for $3.5 billion in stock. Trulia shareholders will receive 0.444 common shares of Zillow for each share they hold and will own about 33% of the combined company

  • Markit US. Composite and Services PMI came in largely unchanged at 60.9 and 61 respectively

  • Pending Home Sales for June fell by -1.1%

  • The Dallas Fed Manufacturing Activity Index is at 10:30

  • 140 of the S&P 500 companies will report this week. 22 IPO’s are scheduled to price this week

  • In China, Industrial Production grew by 18% in June

  • Brent crude...

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Posté par: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
juil 25 2014 | 10:03 AM

From The Trading Floor: After the S&P closed at a new high yesterday, the markets are pulling back this morning as traders are cautious ahead of the weekend on mixed earnings and continued unrest in Gaza and the Ukraine

  • Orders for US. Business equipment rose in June by 0.7% following a revised drop the prior month, indicating corporate investment remains stop and go and could still hold back economic growth. Business demand improved, evidenced by a 1.4% increase in nondefense capital goods orders excluding transportation that followed a 1.2% decline in May. Shipments of these goods, however, dropped for the third straight month, declining 1.0%.
  • Advanced Drainage Systems (WMS) priced 14.5 million shares at $16.00. They opened the day at $16.05 on a print of 908,315 shares. 

  • There are 22 IPO’s scheduled to price and go public next week

  • Argentine representatives have concluded that the best option for their country...

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Posté par: Charles Brown
Managing Director, The Capital Markets Desk
Market Drivers
juil 24 2014 | 4:11 PM

Equity markets shrugged off geopolitical tensions, and continued their slow grind upward this week. The rally has been helped by a host of positive earnings releases, as well as generally optimistic economic data. Here are three things that have been driving the market this week.

Geopolitical Unrest – Russia, Ukraine, Israel

“Geopolitical unrest” has been a popular buzzword used throughout financial circles and in the media this week. The term refers to several hotbed areas across the globe impacting the psyche of U.S. equity markets. First, we have the ongoing situation following the downing of Malaysian Flight 17 in Ukraine, allegations of tampering with the crash site, and finger pointing for responsibility. We also have the escalating conflict in Israel. The recent round of fighting there between Hamas and Israel has taken more than 600 lives, with little hope for a cease fire in the near future. Lastly, we have the deteriorating situation in Iraq, where...

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Posté par: Ronald Bohlert
Managing Director, Global Corporate Client Group