The Latest Posts
August 20, 2014
NYSE MAC Desk
Jun 18 2014 | 9:58 AM

From The Trading Floor: Equities are trading in measured territory this morning following a 3 day gain as investors await the latest monetary policy decision by the Fed.

  • Mortgage Applications fell by -9.2% for the period ending June 23rd

  • The 1st quarter account balance fell by -$111.2 billion greater than the -$97.0 billion expected 

  • At 2 p.m. Eastern, the Fed is widely expected to announce another $10 billion reduction in its bond-buying program to $35 billion a month. But investors will be looking for any changes in the Fed members' economic projections, and any comments from Fed Chairwoman Janet Yellen's news conference, that might provide clues regarding how long the Fed will keep overnight interest rates near zero.

  • The European Central Bank has expressed its concerns regarding foreign currency benchmarks, stating that relying on one set of data to compile a benchmark cannot...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
Ahead of the Bell
Jun 18 2014 | 8:12 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. All eyes will be on the Federal Reserve today as tensions in Iraq escalate into more violence. The FOMC will conclude its two-day policy gathering today, followed by a press conference by Chair, Janet Yellen. Investors will be looking for hints on interest rates and the pace of the Feds asset purchase program. With the rising threat of inflation, market participants are concerned Yellen and company could strike a more hawkish tone on its monetary policy outlook. Reports suggest, Sunni insurgents have captured additional cities in Iraq and have set the country's largest oil field ablaze, driving crude oil prices higher.


• On the economic calendar today, no major reports are due. The dollar is up against the British pound and down against the euro and the Japanese yen. Gold is trading at $1,271. Crude oil is currently...

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Posted by: Parasnand Madho
Director, Market Watch & Corporate Actions
End of Day Report
Jun 17 2014 | 4:24 PM

U.S. stock indices finished fractionally higher on Tuesday as the markets digested some disappointing housing data and a higher-than-expected CPI reading ahead of the FOMC's policy decision tomorrow. Financials and Discretionary led gains on the S&P 500, while Energy and Utilities topped declines. Crude oil and gold are both lower amid a rally in the dollar. 


 


In US economic news, housing data disappointed with starts for May at 1001K, well below forecasts of 1070K. May's data represented a 6.5% decline from April, with forecasts for a 3.7% fall.  Separately, consumer prices rose 0.4% in May, and ahead of expectations for +0.2%.  Prices ex-food & energy also climbed,  +0.3% versus +0.2% expectations. The CPI index has now risen 2.1% y/y, and 2.0% ex-food & energy.  The data had little effect on today’s markets as investors...

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Specialist, Market Watch
Ahead of the Bell
Jun 17 2014 | 8:22 AM

MARKET ACCESS CENTER: MORNING REPORT
Ahead of the Bell: Dow futures are trading up 20 points and S&P futures are trading up 2 points. World markets react amid escalating violence in Iraq and Ukraine as the Federal Reserve gets ready to meet. The US is reportedly considering engaging Iran in its response to the militant uprising in Iraq. Tensions were renewed in Ukraine after Russia cut off gas supplies to its former member state in a dispute over unpaid bills. The focus today will be on the Federal Reserve's monetary policy statement due out on Wednesday afternoon after the central bank concludes its two-day FOMC meeting. Fed Chair, Janet Yellen is expected to address inflation, interest rates, and the unemployment rate. Other topics that are expected to be discussed include growth forecast as the Fed continues to pare back its bond-buying program .

• On the economic calendar today, consumer price index for May will be published before the market opens, it is...

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Posted by: Parasnand Madho
Director, Market Watch & Corporate Actions
End of Day Report
Jun 16 2014 | 4:33 PM

U.S. equities were fractionally higher during quiet Monday trading as caution caused by turmoil in Iraq was offset by a flurry of new merger activity.  Utilities and Energy led stocks higher on the S&P 500, while Financials and Materials topped declines.  Gold is lower, Crude is higher, and the greenback slipped against its major rivals. 


 


Geopolitical concerns still grabbed much headlines after the capture of more Iraqi towns by the radical Islamic group ISIS.  No clear response from the US, although the Obama Administration said they are preparing to open talks with Iran on how to counter insurgents.   Other commentary still suggesting that the potential impact on oil supplies remains limited for now.  Separately, Gazprom said Ukraine missed their payment deadline on gas debts and will have to pay up-front for deliveries....

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Specialist, Market Watch