The Latest Posts
September 20, 2014
Ahead of the Bell
Jun 26 2014 | 8:38 AM

MARKET ACCESS CENTER: MORNING REPORT


Ahead of the Bell: Dow futures are trading down 4 points and S&P futures are trading down 2 points. Investors appear to be ignoring the weaker than forecasted US growth rate in the first quarter of 2014 and escalating violence in Iraq on optimism that the Fed will be more accommodative with its ultra-loose monetary policy for a longer period. With the dismal GDP figures announced on Wednesday, market participants were encouraged by the prospects of the Federal Reserve keeping interest rates low beyond 2015, but inflation fears could prove to be a setback on the high side. Reports suggest, rebel insurgents have captured more oil and natural gas fields about an hour outside of Baghdad, driving crude oil prices higher.


On the economic calendar today, weekly jobless calms will be released before the market opens, it is forecasted to be 301K compared with 312K. Richmond Federal Reserve Bank President Jeffrey...

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Posted by: Parasnand Madho
Director, Market Watch & Corporate Actions
End of Day Report
Jun 25 2014 | 4:33 PM

Stocks rebounded on Wednesday following two days of losses as the markets digested a swath of corporate headlines and mixed US economic reports.  Investors shrugged off weaker-than-expected durable goods and Q1 GDP as a jump in services data raised sentiment.  Healthcare and Discretionary led gains on the S&P 500, while Staples and Telecom topped declines.  Gold and Oil are higher amid a weaker dollar. 


 


Real GDP surprised to downside as data showed the US economy contracted 2.9% in the first quarter, a much steeper pace than previously estimated, though activity was impacted by harsh winter weather and there are indications that growth has since rebounded.  Durables orders were also much weaker than expected, with durable orders falling 1.0% in May after rising 0.8% in April.  Analysts forecast 0.4%.  A bright note, Markit flash services PMI came in at 61.2 in June vs 58.1 in May.  The reading...

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Specialist, Market Watch
NYSE MAC Desk
Jun 25 2014 | 10:10 AM

From The Trading Floor: Equities are trading higher this morning as a report showing expansion in the services sector is overshadowing an unexpected drop in GDP for the 1st quarter. 

  • Mortgage Applications fell -1.0% for the period ending Jun 20th which was better than the -9.2% decline the previous period

  • Durables orders advanced 0.6%, following a 3.7% jump in March. Excluding transportation, durables orders edged up 0.3% in April, following a 3.0% spike the month before. Most of the decline was the result of a drop in transportation orders

  • Real 1st quarter GDP really surprised on the downside. Adverse winter weather had a huge impact as the first quarter fell a revised 2.9% after rising an annualized 2.6% in the fourth quarter. The latest number was significantly below market expectations for a 1.8% decline. 

  • Markit Composite PMI rose to 61.1

  • Markit Services PMI...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
Ahead of the Bell
Jun 25 2014 | 8:31 AM

MARKET ACCESS CENTER: MORNING REPORT


Ahead of the Bell: Dow futures are trading down 2 points and S&P futures are trading up 2 points. Global financial markets are retreating today on fears that turmoil and violence in Iraq could escalate further, prompting investors to seek safe haven asset classes. According to reports, the situation in Iraq is worsening by the day, which triggered a sell off in US equities late on Tuesday. The US is urging the various ethnic groups, including leaders of Iraq's Kurdish region to stand with Baghdad against the rebel insurgency that threatens to destabilize the country. Crude oil prices are presently stable, but could rise in the long term if the crisis in Iraq is not resolved and the country falls into civil war.


On the economic calendar today, durable goods orders for May will be out before the market opens and it is expected to be 0.4% compared with 0.8% for April. A final reading of first quarter GDP will...

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Posted by: Parasnand Madho
Director, Market Watch & Corporate Actions
End of Day Report
Jun 24 2014 | 4:47 PM

U.S. stock indices finished lower after reversing earlier gains as the markets digested some mixed housing data, better-than-expected consumer confidence, continued geopolitical concerns surrounding Iraq and various Fed-speak.  The S&P 500 touched a fresh intraday all-time-high in early trading, however investors took the opportunity to book profits as the major indexes hover near record levels.  Of the major sectors, Energy and Industrials topped declines, while Utilities and Healthcare were the only two groups to finish on the plus side.  Oil is lower while Gold and the dollar advance.  


 


In US economic news, home price data largely disappointed, with the S&P/Case-Shiller 20-city home price index rising 0.2% m/m in April vs consensus of +0.8%.  The Index is up 10.8% y/y, down from 12.4% in March.  FHFA’s house price index...

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Specialist, Market Watch