The Latest Posts
July 22, 2014
NYSE MAC Desk
Jun 3 2014 | 10:17 AM

From The Trading Floor: Equities are trading in the red this morning after data in Europe showed slower than forecast inflation while factory orders in the US. actually increased more than expected for April

  • ISM New York for May came in better than expected at 55.3 vs 50.6 the prior month

  • US. April Factory Orders rise 0.7%, ex transports 0.5%. better than the expected 0.5%

  • IBD / TIPP Optimism increased to 47.7 for June

  • Pilgrim's Pride upped its offer for Hillshire Brands (HSH) from $45 per share in cash to $55 per share in cash.

  • AT&T  raised its 2014 revenue growth outlook and affirmed its adjusted earnings estimate, and said that it has seen smartphone sales rise through the current quarter.

  • Chrysler May sales are +15%

  • Ford May sales increased 3%

  • GM May sales increased 12.6%

  • Investors have pulled an estimated $4....

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
Ahead of the Bell
Jun 3 2014 | 8:49 AM

MARKET ACCESS CENTER: MORNING REPORT
Ahead of the Bell: Dow futures are trading down 26 points and S&P futures are trading down 4 points. World financial markets have been boosted by optimism that the European Central Bank will provide more easy monetary policy and encouraging signs China's economy is starting to steady. According to the EU's statistics office Eurostat, euro zone price inflation fell unexpectedly last month, this will increase pressure on the ECB to cut interest rates, which will make it cheaper to borrow. HSBC/Markit purchasing managers' index survey showed China's factory and services sectors rose in May as demand rebounded, fueling speculation that the world's second largest economy is starting to stabilize after a mediocre beginning to 2014.


• On the economic calendar today, factory orders for April will be published after the opening bell, a reading of 0.5% is forecasted compared with 1.1% for the month prior. Kansas City Federal...

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Posted by: Parasnand Madho
Director, Market Watch & Corporate Actions
End of Day Report
Jun 2 2014 | 4:34 PM

On Monday, U.S. stocks fluctuated, with the Standard & Poor’s 500 Index erasing earlier losses, as investors digested some largely in-line manufacturing data and continued M&A speculation. Industrials and Consumer Discretionary led gains, while Tech and Energy topped declines. Gold and Crude Oil both fell while the dollar rallied against a basket of its major rivals. 


 


The conversation surrounding the Treasury rally continued, with another batch of articles over last few days highlighted unexpected resilience in bond market. Usual suspects in focus, including ramp in European Central Bank easing expectations, structural headwinds on long-run equilibrium funds rate, short covering, limited supply and pension fund buying. Still a lot of debate about implications of bond market resilience for stocks. The Wall Street Journal discussed concerns bonds are signaling a more lackluster recovery that could weigh on stocks.

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Specialist, Market Watch
NYSE MAC Desk
Jun 2 2014 | 10:33 AM

From The Trading Floor: After the Dow and the S&P set new closing records on Friday, the markets are trading in negative territory this morning after a report showed that manufacturing in the US grew at a lower level than expected.

  • US. Manufacturing PMI for May came in at 56.4, up slightly from 56.2 the previous period

  • ISM factory Index fell to 53.2 in May from 54.9 in the prior month

  • ISM prices paid for May increased to 60.0 from 56.5

  • US April Construction rose 0.2%, well shy of the 0.6% estimate.

  • The Environmental Protection Agency will propose legislation mandating U.S. power plants to cut greenhouse-gas emissions by an average of 30% by 2030 from levels 25 years earlier. The proposal will be unveiled later today, and is in line with President Barack Obama's climate-change and environmental protection agenda.

  • Google is planning to extend Internet access to the...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
End of Day Report
May 30 2014 | 4:27 PM

US stock indices were mixed on Friday, but finished the week with notable gains as the S&P 500 index continued to hit fresh record highs.  Several economic reports and Fed speak had a muted impact on equities today, but investors had some interesting headlines to focus on surrounding M&A and corporate results.  Of the major sectors, Utilities and Staples led gains, while Energy and Materials topped declines. The Dollar slightly weaker against yen and euro. Oil and gold both lower.


 


Data was somewhat in-line with respect to today’s US economic news, with May final US Michigan Consumer Sentiment at 81.9 vs. consensus of 82.0, and April US Personal Income +0.3%, in line with consensus of +0.3%.  A bright spot was Chicago PMI for May which came in at 65.5 vs. consensus 60.8; New Orders rose 70.2 vs. 68.7 in April.  The combined data had little effect on stocks. 


 


Kansas City Fed...

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Specialist, Market Watch