The Latest Posts
September 17, 2014
NYSE MAC Desk
Sep 8 2014 | 10:01 AM

From The Trading Floor: Equities are trading in measured territory this morning after a 5 week rally sent the S&P 500 to record territory

  • Alibaba kicks off its road show today and will hold 100 meetings worldwide before returning to New York to price its stock on Sept. 18

  • Over the weekend, Philadelphia Fed President Plosser  told a gathering of community bankers that he thinks the Fed needs to alter its communication to prepare the market for the possibility of rates being increased sooner than expected.

  • General Electric will sell its appliance business to Electrolux for $3.3 bln. 

  • Multimedia Games will be acquired by Global Cash Access  for $36.50/share in cash (31% premium), representing a total purchase price of $1.2 bln.

  • Consumer Credit for July comes out at 3:00 pm

  • Goldman Sachs has now upgraded equities to overweight over the next three months,...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Sep 5 2014 | 9:56 AM

From The Trading Floor: Stocks are fluctuating this morning as the lowest Non-Farm Payroll number this year has investors questioning the economy’s strength and the timing of the Federal Reserve’s interest rate increase

  • Payrolls in the US. increased by 142,000 during August, the lowest level all year. The average monthly gain in nonfarm payrolls over the last 12 months has been 212,000.

  • The Unemployment Rate fell slightly to 6.1%

  • The Labor Participation Rate fell slightly to 62.8%

  • The Fed is stepping up efforts to search for an alternative to Libor, in what would be a major transition affecting hundreds of trillions of dollars in U.S. and worldwide contracts and derivatives. The Fed, large financial firms and others will meet over the course of the next year to work toward an alternative benchmark.

  • ICE (NYSE:ICE) is expected to pay $350M for SuperDerivatives, a Tel-Aviv based business that...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Sep 4 2014 | 10:12 AM

From The Trading Floor: Stocks are getting a boost today on news that the ECB unexpectedly cut interest rates and said it will buy back asset backed securities to stimulate growth

  • Challenger Job cuts for August decreased by -20.7%

  • ADP employment came in at 204,000 for August less than the 212,000 the previous period

  • The Trade Balance narrowed by -$40.5 billion. Exports were $1.8 bln more than June exports, led by a $1.7 bln increase in exports of automotive vehicles, parts, and engines, and a $1.3 bln jump in industrial supplies

  • Jobless Claims rose by 4000 to 302,000 in the week ending August 30th as an improving economy prompted businesses to retain staff.

  • Q2 Productivity was revised down to 2.3% from 2.5%.

  • Bloomberg Consumer Comfort for the period ending August 31st rose to 37.7

  • ISM Non-Manufacturing Composite rose to 59.6 from 58.7...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Sep 3 2014 | 10:18 AM

From The Trading Floor: Reports of a cease fire in Ukraine and data that showed US. Factory orders rose the most on record in July have powered equities well into positive territory.

  • Mortgage applications for the week ending August 29th increased by 0.2%

  • Bank regulators are expected to finalize rules today that would require banks to hold capital against every asset on their books, and approve of a "liquidity-coverage ratio", which would require large banks to load up on ultra-safe assets to fund their operations for 30 days. The new rules have Wall Street concerned due to the likely harm to earnings and lending restrictions, although regulators say the policies will create a safer financial system.

  • Coinciding with the sale of its last tobacco product today, CVS Caremark (NYSE:CVS) is unveiling its new corporate name: CVS Health. CVS said in February that it would rid all of its 7,700 stores of tobacco products by Oct...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Sep 2 2014 | 10:19 AM

From The Trading Floor: Equities are trading in measured territory this morning despite a rash of M&A activity and some positive news on the economy

  • ISM Manufacturing increased to 59.0 for August

  • Construction Spending for July jumped to 1.8% from a revised -0.9% the previous month.

  • Economic Optimism for September rose to 45.2 from 44.5 in August.

  • Dollar General increases proposal to board of Family Dollar to $80 per share

  • Compuware to be acquired by Thomas Bravo for $10.92 a share. 

  • Markit US. Manufacturing PMI slipped to 57.9 for August

  • Apple is planning a new partnership with major payment networks, including Visa , MasterCard  and American Express  to transform the next iPhone into a mobile wallet

  • Japanese shares soared today, led by exporters and the yen slipping to a seven-month low against the dollar. Traders...

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