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March 30, 2015
NYSE MAC Desk
Dec 2 2014 | 11:08 AM

From The Trading Floor: Speculation overseas that central banks will increase stimulus in combination with a flurry of M&A deals have the markets trading in positive territory after the S&P retreated the most in 5 weeks yesterday

  • M&A news dominates the landscape this morning. Cypress Semiconductor (CY) and Spansion (CODE) are merging in a $4 billion merger of equals, Otsuka Pharmaceuticals acquiring Avanir Pharmaceuticals (AVNR) for $3.5 billion, and Aviva (AV) buying Friends Life Group for $8.8 billion.

  • ISM New York climbed more than expected for November rising to 62.4 from 54.8

  • Construction Spending for October rose by 1.1% from -0.1%

  • A lot of news on Cyber Monday today. While many of the reports are conflicting, all of them point to a better sales day than last year.

  • Several Fed officials are making remarks today including Fed Chair Yellen

  • We have November...

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