From The Trading Floor: Equities are trading in negative territory this morning as investors remain cautious before a 3 day weekend and amidst ongoing concern over the timing of the Fed’s tapering it’s bond buying program.
Orders for Durable Goods increased by 3.3%, more than forecast in April indicating gains in business investment.
Procter & Gamble (PG) has taken what it hopes is no gamble by reappointing A.G. Lafley as CEO to replace the retiring Bob McDonald.
Equity fund flows had another big week, with funds taking in $7.5 billion in assets under management. Bond funds saw big inflows as well, expanding by $4.5 billion. Commodity funds saw outflows of $2.1 billion, and money-market funds expanded by $16 billion.
June German consumer confidence survey's headline index...
Ahead of the Bell: Dow futures are trading down 36 points and S&P futures are trading down 6 points. Business sentiment in Germany improved more than expected in May after falling in the previous two months, suggesting the euro zone's strongest economy is starting to pick up steam after a sluggish first quarter. However, Japanese shares rebounded from yesterday’s 7 % drop despite continued fears that the Federal Reserve will taper its bond buying program. Weak factory activity data out of China added to global concerns that the world’s second largest economy may be heading for a slowdown. A Federal Reserve official, James Bullard said he does not see inflation and the US economy is slowly growing.
On the economic calendar today, April durable goods orders data will be released before the market opens and a 1.5% increase is expected, vs. a 6.9% decline the month prior.
Alpe d’HuZes foundation sounds the gong for the 2013 edition.
Alpe d'HuZes is an event in which participants raise funds to contribute to the fight against cancer. With the words "Quitting is not an option" as their credo, they cycle or walk up the legendary French Alpe d'Huez up to 6 times in one day.An almost impossible challenge, yet many participants have managed to succeed in it so far, even several (former) cancer patients.Alpe d'HuZes guarantees that 100% of all donated funds will actually be spent on research. Johan van der Waal, chairman and race director, sounds the gong.
On Thursday, May 23 executives and guests of Constellium N.V., a Netherlands-based global leader in the design and manufacture of specialty downstream aluminum products and solutions for the aerospace, packaging and automotive industries, will visit the New York Stock Exchange (NYSE) to celebrate the completion of the company’s initial public offering and first day of trading. Constellium N.V. began trading today on the NYSE and on NYSE Euronext Paris under the ticker symbol “CSTM”. In honor of the occasion, CEO Pierre Vareille, joined by the members of Constellium’s leadership team, will ring the NYSE Closing Bell.
About Constellium N.V.
Constellium is a global sector leader that develops innovative, value added aluminum products and solutions for a broad scope of markets and applications, including...