The Latest Posts
July 29, 2014
Ahead of the Bell
Jun 12 2014 | 8:25 AM

MARKET ACCESS CENTER: MORNING REPORT


Ahead of the Bell: Dow futures are trading up 7 points and S&P futures are trading up 2 points. Major stock indices appear to be rebounding today, after the previous trading sessions losses on global growth concerns. Gains, however were limited by rising crude oil prices following escalating violence in Iraq, where militants from an al-Qaeda splinter group have captured the country's second largest city, Mosul. According to data released by the euro zone, industrial output unexpectedly doubled in April driven by energy and non-durable goods production; led by Germany, the region's largest economy, signs the 17-member bloc continues to grow since the second quarter.


On the economic calendar today, weekly jobless claims will be released before the opening bell, 309K is forecasted compared with 312K for the week prior. Retail Sales for May will also be published before the market opens, a reading of 0.6% is...

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Posted by: Parasnand Madho
Director, Market Watch & Corporate Actions
End of Day Report
Jun 11 2014 | 4:23 PM

Stocks declined on Wall Street, with the Dow closing 102 points lower as investors booked profits following a string of record high closes.  Also in focus was the World Bank's downwardly revised global growth forecast and instability concerns out of Iraq.  Nearly all major S&P 500 sectors were lower with Utilities, Industrials, and Financials topping declines.  Energy and Healthcare outperformed.  Gold and Oil edged higher while the dollar slipped. 


 


A report from Bespoke Investment Group pointed out that the S&P 500 is closing in on the average targets of many strategists’, noting that heading into todays’ session, the S&P 500 was just 18 points below average year-end price target for 20 strategists who submitted to Bloomberg.  Recall the S&P 500 was up more than 1% for a third straight week last week, its longest such winning streak since last September. 


 


The...

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Specialist, Market Watch
NYSE MAC Desk
Jun 11 2014 | 10:05 AM

From The Trading Desk: Equities are trading lower this morning as the World Bank lowered its growth rate

  • Mortgage Applications for the period ending June 6th rose 10.3%

  • The Monthly Budget Statement is at 2:00 pm

  • Seven U.S. senators have urged the Department of Transportation to finally ban the use of electronic cigarettes on domestic flights and those to or from the United States. The ban for "vaping" on U.S. flights was proposed in September 2011.

  • Prominent Republican US Majority Leader Eric Cantor lost the Virginia primary to a Tea Party backed College Professor.

  • The World Bank cut its forecast for Global Growth to 2.8% from 3.2%. The World Bank also highlighted that China's faltering housing market was a growing concern

  • The European Commission is preparing an investigation examining the low tax rates global companies pay in Ireland, Luxembourg and the...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
Ahead of the Bell
Jun 11 2014 | 8:22 AM

MARKET ACCESS CENTER: MORNING REPORT
Ahead of the Bell: Dow futures are trading down 67 points and S&P futures are trading down 9 points. Global equity markets are retreating today, following the recent run up in stocks on upbeat US economic data and the European Central Bank's latest monetary measures, as investors rebalance their portfolios and take some profits off the table. According to reports, the World Bank has cut its global growth forecast, blaming it on the wicked weather across the US and the crisis in Ukraine. China's central bank reiterated it will keep its current monetary policy in place throughout 2014, despite a 25% surge in spending in May as Beijing reenergizes efforts to boost growth.


• On the economic calendar today, the Treasury Department will release its budget report in the afternoon, $-139.0 B is expected compared with $106.9 B.
• The dollar is up against the Japanese yen and down against the euro and the British pound....

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Posted by: Parasnand Madho
Director, Market Watch & Corporate Actions
End of Day Report
Jun 10 2014 | 4:45 PM

U.S. stock indices finished relatively unchanged on Tuesday amid a light corporate and economic calendar. The major S&P 500 sectors were mixed with the biggest gain coming from Healthcare, up .22%, while Utilities declined .29%. Crude oil and gold are both higher while the dollar slipped against its major rivals. 


European  stocks paused for a breath on Tuesday, with U.K. indices losing ground as news of strong industrial output increased the chances of a near-term rate rise. Asian indices took their cue from Wall Street and closed largely in the green, though Japanese markets retreated as the yen rose.


A Wall Street Journal column fueled concerns surrounding the housing market as it relates to first time buyers. The article said the financial burdens that young adults face has cut into their ability to buy a first home, and is a major reason the housing recovery continues to disappoint. The column also said the growing debts have...

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Specialist, Market Watch