The Latest Posts
November 26, 2014
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....

Read More
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...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 31 2014 | 10:05 AM

From The Trading Floor; The Japan stimulus plan in addition to some strong earnings from some industry bellwethers have the markets trading in record territory this morning

  • The Employment Cost Index for the 3rd Qtr rose by 0.7%

  • Consumer Spending in the US. unexpectedly dropped in September as incomes rose at the slowest pace of the year. Expenditures decreased 0.2% September, weaker than expected after rising 0.5% the previous month. Incomes increased 0.2%, the smallest gain since December.

  • The PCE price index increased 0.1% and is up 1.4% year‐over‐year. In other words, it is still well below the Fed's longer‐run inflation target of two percent

  • Separately, the third quarter employment cost index increased 0.7% and showed a 2.2% increase in employment costs year over‐year. That is the highest increase since a 2.6% increase in Q4 2008.

  • ISM Milwaukee for October rose to 65.61 from 63....

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 30 2014 | 10:31 AM

From The Trading Floor: Stocks are trading in mixed territory this morning after GDP growth fueled speculation the Fed would raise rates sooner than later while Visa earnings results lifted the Dow

  • Third quarter GDP growth decelerated after a second quarter jump related to make up activity after the first quarter decline due to atypically adverse winter weather. 3rd quarter GDP came in at 3.5% annualized, following 4.6% boost in the second quarter. The median forecast was for 3.0%.
  • Jobless claims moved higher in the latest data but averages are still at recovery lows. Initial claims rose 3,000 in the October 25 week to 287,000

  • Boot Barn Holdings (BOOT) priced 5 million shares at $16 last night. The opening trade was at $19.00 on 1,311,080 shares

  • Ukraine and Russia were unsuccessful in reaching a gas agreement at their overnight talks with the EU, but another round of negotiations will take place Thursday...

Read More
Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 29 2014 | 9:54 AM

From The Trading Floor: Stocks are trading in mixed to positive territory this morning as investors speculate that the Fed will signal continued low interest rates after their 2 day meeting concludes today.

  • Mortgage Applications for the period ending 10/24 fell by -6.6%

  • Ahead of the Wednesday afternoon statement (2:00 pm est) on monetary policy, it is considered certain that the Fed will end its latest bond-buying program. But recent comments from Fed officials show that bond purchases, or quantitative easing, will remain in the central bank's tool kit

  • The tobacco industry is gearing up for its next serious challenge, as more cities raise the legal age for buying tobacco products to 21.

  • The Federal Trade Commission sued AT&T yesterday, alleging that the company sold millions of customers "unlimited" data plans while cutting data speeds to near-impractical levels after the user crossed a usage threshold. AT...

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