The Latest Posts
December 18, 2014
NYSE MAC Desk
Dec 1 2014 | 11:06 AM

From The Trading Floor: Soft readings on manufacturing growth in Europe and Asia, coupled with a slow start to the holiday season, have the markets trading in negative territory this morning.

  • There were reports from the retail industry of a substantial decline for in‐store spending over the Black Friday weekend compared to last year. Strong on‐line sales didn't offset that weakness.
  • US. Manufacturing PMI for November rose slightly to 54.8 from 54.7

  • ISM Manufacturing Index fell slightly to 58.7 in November from 59 the previous month

  • The major market driver this morning is a drop in the German manufacturing PMI index to 49.5 for November. The European economy is very fragile and Germany has been a critical component in the barely positive eurozone growth in recent years, such as the meager 0.1% growth posted in the third quarter. A negative number in the fourth quarter looms as a risk.

  • There was a...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 28 2014 | 10:54 AM

From The Trading Floor: With markets closing at 1:00 today on Black Friday, equities are trading in mixed territory as the plunging price in oil is juxtaposed against the rise in retail stocks

  • With the main story of the day being OPEC refusing to scale back production of 30M barrels a day, WTI and Brent trade at new lows.

  • The weather did not seem to stop Black Friday shoppers yesterday, as long queues formed in front of retail stores. The National Retail Federation has forecast that sales in November and December, excluding auto, gas and restaurant sales, will rise 4.1% from the same months last year, up a bit from 3.1% in 2013.

  • The number of people without jobs in the eurozone rose for the second straight month in October, while the annual rate of inflation fell further below the European Central Bank's target as energy prices tumbled.

  • Japanese shares gained ground today as a weaker yen and falling oil prices...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 25 2014 | 11:21 AM

From The Trading Floor: Stocks are fluctuating this morning after reaching all-time highs yesterday, as GDP rises for November while consumer confidence slipped.

  • GDP for the 3rd quarter rose to 3.9% on higher consumer spending

  • The Home Price Index for September rose at a slower pace than expected. Home prices in 20 US. cities increased 4.9%  from September 2013

  • Stryker is considering making a bid for medical device manufacturer Smith & Nephew (NYSE:SNN) as a standstill period that prevents it from making an offer nears its end

  • Consumer Confidence declined to 88.7 for November from 94.1 the previous period

  • The Richmond Fed Manufacturing Index fell to 4 for November from 20 during October

  • China is considering a broad ban on smoking, including tobacco advertising, smoking in public places and cutting smoking scenes in film and TV

  • Resistance...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 24 2014 | 10:59 AM

From The Trading Floor: Equities are getting a follow on boost from Friday's action as confidence in the global economy grew amid support from central banks

  • Chicago Fed National Activity Index for October came in at 0.14, lower than the revised 0.29 the previous month

  • Markit Services PMI came in at 56.3 for November with the Composite coming in at 56.1

  • Biomarin Pharm (BMRN) is acquiring Prosensa Holding (RNA) for $17.75 per share, representing a 55% premium to Friday's closing price. Cimatron (CIMT) is being acquired by 3D Systems (DDD) for $8.97 per share in cash, or a total of $97 million.

  • U.S. imports of crude oil from OPEC nations are at their lowest level in almost 30 years, reports FT, underlining the impact of the shale revolution and advances in hydraulic fracturing.

  • Dallas Fed Manufacturing Activity is at 10:45

  • Chinese stocks rallied today, following the POBC's...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 21 2014 | 11:05 AM

From The Trading Floor: Additional stimulus measures signaled by China and Europe have US equity markets trading at record levels, on target to finish a 5th week of gains

  • The People's Bank of China lowered its one‐year benchmark lending rate for the first time in two years by 40 basis points to 5.60% and its one‐year benchmark deposit rate 25 basis points to 2.75%.

  • ECB President Draghi made a comment earlier today that eurozone inflation has become increasingly challenging and that the central bank is ready to act fast and do more if current trends continue.

  • President Obama has outlined plans to use executive authority to help millions of illegal immigrants, granting them the chance to apply for work permits and a temporary reprieve from deportation. "I will make it easier and faster for high-skilled immigrants, graduates and entrepreneurs to stay and contribute to our economy, as so many business leaders have proposed...

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