The Latest Posts
November 22, 2014
NYSE MAC Desk
Nov 7 2014 | 10:49 AM

From The Trading Floor: Stocks are wavering  a bit this morning, as October jobs data, while exceeding the 200,000 level for another month, came in slightly below forecast

  • Employment gains exceeded 200,000 for the 9th straight month, increasing by 214,000 for October as the jobless rate fell to 5.8%, a 6 year low
  • The Labor Participation rate remained relatively stable at 62.8%

  • Average hourly earnings for all workers rose 0.1% in October. They were up 2% over the past 12 months

  • Disney reports Q4 EPS 89c, consensus 88c. Reports Q4 revenue $12.39B, consensus $12.37B

  • Notable speakers on the agenda include ECB’s Weidmann and Bank of England’s Carney ( 05:15 ET), and Fed Chair Yellen ( 10:15 ET). Governor Tarullo is talking at the FDIC conference at 14:30 ET

  • German industrial production fell short of the consensus forecast of a 2% rise in September, signaling that Europe...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 6 2014 | 11:00 AM

From The Trading Floor: Equities are fluctuating this morning after the release of several positive economic reports and assurances by ECB President Draghi that he would employ further easing measures if needed

  • Challenger job cuts rise 11.9% in October from a year earlier

  • Claims for the week ending November 1 dropped to 278,000 from 288,000 in the prior week. Continuing claims for the week ending October 25 declined to 2.348 million from 2.387 million

  • Third quarter productivity increased 2.0%. Unit labor costs, meanwhile, increased 0.3%.

  • Consumer comfort for the week ending November 2nd rose to 38.1 from 37.2

  • Both the Bank of England and ECB left their key lending rates unchanged at their respective policy meetings today. ECB President Mario Draghi assured the Euro zone that further easing measures would be considered if needed.

  • Kiev has announced that it will...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 5 2014 | 11:29 AM

From The Trading Floor: Equities are trading in positive territory this morning as Republicans won their first Senate majority in 8 years and ADP employment data showed companies added more workers in October.

  • The ADP Employment Change report showed an estimated 230,000 jobs were added to private‐sector payrolls in October. That marked the seventh straight month totals have exceeded 200,000. Goods‐producing employment increased by 48,000 while service‐providing employment rose by 181,000. Job gains were reported across the construction, manufacturing, trade, financial, and professional/business services industry groups.
  • Mortgage Applications for the period ending 10/31 fell -2.6%

  • News that the midterm election results earned Republicans control of both houses of Congress has been widely cited as the driving factor for the bullish bias.

  • Markit US. Services / Composite PMI came in at 57.1 / 57.2 respectively

  • ...
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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 4 2014 | 11:18 AM

From The Trading Floor: With oil trading at a 3 year low and mixed results being reported by corporations today, markets are trading in uneven territory as investors turn conservative

  • The trade deficit for September widened by 7.6% to $43 billion, a 4 month high as exports cooled
  • Factory Orders for September cooled a bit to 54.8 from 63.7 the previous period

  • Economic optimism for November increased to 46.4 from 45.2

  • Alibaba reports Q2 EPS 45c, consensus 45c. Reports Q2 revenue $2.74B, consensus $2.61B

  • CVS Health reports Q3 adjusted EPS excl items $1.15, consensus $1.13. Reports Q3 revenue $35.02B, consensus $34.74B

  • Since the end of WWII, the Oct. 31 to April 30 period has proved to be the strongest period for stocks, with an average 7.1% gain for the S&P 500. Midterm election years tend to see that performance get an extra boost, with stocks returning 16.3% over the same stretch....

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Nov 3 2014 | 11:20 AM

From The Trading Floor: After closing out October at record levels, equities are trading in mixed territory this morning after weak PMI numbers came in from Europe and the Far East despite better than expected ISM Manufacturing for October. 

  • Markit US. Manufacturing for October came in at 55.9, slightly lower than 56.2 the prior period
  • ISM Manufacturing rose to 59 for October from 56.6

  • Construction Spending fell by -0.4% for October

  • Ford sales fell 1.7% for October

  • GM sales rose 0.2% for October

  • Chrysler sales rose 22% during October

  • China's HSBC manufacturing PMI rose to 50.4 in October from 50.2 in September but came in slightly below the official manufacturing PMI of 50.8. That was down from 51.1 previously.

  • Eurozone manufacturing PMI edged up to 50.6 in October from 50.3 in September as growth in Germany, Spain, the Netherlands and Ireland...

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