The Latest Posts
August 29, 2014
NYSE MAC Desk
Aug 6 2014 | 10:13 AM

From The Trading Floor: The breakup of 2 large M&A deals in conjunction with the unease over the Russia / Ukraine tensions has the market trading in mixed territory this morning. Strong earnings from some bellwether companies is attempting to reverse the negative trend 

  • Mortgage Applications for the week ending August 1st increased by 1.6%

  • The Trade Balance shrank to a 5 year low shrinking to $41.58 billion

  • Sprint is abandoning its bid to acquire T-Mobile USA  due to excessive regulatory hurdles

  • 21st Century Fox has withdrawn its $80B bid to buy Time Warner  saying the company won't engage with it over talks.

  • Walgreen is expected to announce this morning that it plans to acquire the remaining 55% of Alliance Boots that it does not already own in a deal costing in the region of £6B ($10.1B). However, sources say that Walgreen  is likely to disclose as part of...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Aug 5 2014 | 10:17 AM

From The Trading Floor: Equities have come off their lows as weak economic activity abroad is being balanced against domestic earnings and better than expected Factory Orders and ISM Non-Manufacturing Composite data

  • Markit Services and Composite PMI came in in line with consensus at 60.8 and 60.6 respectively

  • ISM July Non-Manufacturing Composite rose to 58.7, better than expected

  • Factory Orders for June rose 1.1%

  • IBD / TIPP Economic Optimism fell to 44.5 during August.

  • Gannett has agreed to take full ownership of Cars.com for $1.8B. Gannett  currently owns 27% of Cars.com parent Classified Ventures, so the deal values the whole business at about $2.5B.

  • Sycamore Partners, a private equity firm which recently bought Jones Group, Talbots and Hot Topic, is considering a bid for Sears Canada

  • China's services purchasing managers' index fell to 50.0 in July...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Aug 4 2014 | 10:24 AM

From The Trading Floor: The market is rebounding from its biggest weekly loss in 2 years as a reprieve of geopolitical concerns is encouraging risk takers today.

  • ISM New York rose to 68.1 for July from June’s 60.5 reading.

  • Portugal announced a 4.9 billion euro bailout of Banco Espirito Santo SA

  • Islamic State fighters have taken control of Iraq's biggest dam, two oil fields and three predominantly Kurdish towns in northern Iraq. Islamic State, previously known as ISIS, captured the electricity-generating Mosul Dam (which could give the ability to flood major Iraqi cities or withhold water from farms) in less than 24 hours, The Ain Zala and Batma oil fields have a production output of 30,000 barrels per day.

  • Japanese stocks fell to a more than one week low this morning, with financials and sea transporters leading the losses, as investors turned risk averse due to last week's U.S. stock sell-off, concerns over...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Aug 1 2014 | 10:33 AM

From The Trading Floor: The markets have rebounded this morning after the Futures were down as the Non-Farm payroll number exceeded the magical 200,000 mark for the 6th straight month. The 209,000 was less than expected which also eased speculation that the Fed would look to raise rates in the near term

  • Payrolls in the U.S. rose by 209,000 for July the 6th straight month over 200,000, but slightly less than the 230,000 estimated. 

  • The Jobless Rate increase to 6.2%

  • The Labor Participation Rate remained largely unchanged at 62.9%

  • The average workweek was unchanged at 34.5 hours

  • Consumer Spending in the U.S. rose in June by 0.4%, the most in 3 months signaling that continued job growth will continue to bolster the economy.

  • The PCE Deflator came in as expected at 0.2% for June

  • The University of Michigan Consumer Confidence number came...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Jul 31 2014 | 10:13 AM

From The Trading Floor: Equities are trading lower this morning as a bigger than expected jump in labor costs have traders nervous that the Fed will rates sooner than later. Also the second Argentinian bond default in 12 years is not helping the geopolitical front

  • Challenger Job Cuts for the month of July increased by 24.4%

  • Initial Jobless Claims for the period ending July 26th increased to 302,000, well above the previously adjusted 279,000

  • Second quarter Employment Cost Index increased 0.7%. That was up from 0.3% in the first quarter. Helping to fuel that jump was a 0.6% increase in wages and salaries that followed a 0.3% gain in the first quarter

  • ISM Milwaukee for July came in better than expected at 63.87

  • The Chicago Purchasing Managers Index came in at 52.6, lower than estimated for July

  • Consumer Comfort for the period ending July 27th slipped to 36....

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