The Latest Posts
November 1, 2014
NYSE MAC Desk
Oct 3 2014 | 10:02 AM

From The Trading Floor: Stocks are trading in positive territory this morning indicating the S&P 500 will pair its biggest loss in 2 months, as a better than expected Non-Farm Payroll number boosted confidence in the world’s largest economy.

  • The Trade Balance unexpectedly narrowed by -0.5% to $40.1 billion in August, the lowest levels in 7 months
  • Non-Farm Payrolls increased by 248,000 in September, significantly larger than the 180,000 increase the period before

  • The Unemployment rate dropped to 5.9%

  • The Labor Participation Rate remained flat at 62.7%

  • Markit Services PMI rose to 58.9 for September

  • Markit Composite PMI rose to 59 for September

  • ISM Non-Manufacturing Composite came in at 58.6 for September, pretty much on target

  • FMSA Holdings Inc (FMSA) priced 25 million shares at $16. The opening print was $16.55 on 2,185,571 shares.

  • ...
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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 2 2014 | 10:21 AM

From The Trading Floor: Equities are trading in mixed territory this morning as jobless claims unexpectedly fell for the latest period and ECB President Draghi disclosed details of his stimulus program. 

  • Challenger Job Cuts decreased by -24.4% for September

  • Initial Jobless Claims fell to 287,000 for the period ending 9/27 from the previous 295,000. Initial claims below 300,000 are often associated with nonfarm payroll gains in excess of 250,000. We'll see what the September employment report produces on Friday, but if nothing else, the claims trend since the last employment report is an expectation that August nonfarm payrolls should see a pretty decent sized upward revision.

  • ISM New York rose for September to 63.7

  • Consumer Confidence for the period ending 9/28 fell slightly to 34.8 from 35.5 the previous period

  • Factory Orders for August fell by -10.1%, more than expected.

  • ...
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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 1 2014 | 10:28 AM

From The Trading Floor: Equities are trading in negative territory this morning on concerns over European economic growth (Italy cut its growth forecast, German Manufacturing shrank and euro area factories lowered prices in September) and increasing tensions in the Ukraine.

  • Mortgage Applications for the period ending 9/26 fell slightly by -0.2%

  • ADP Employment (private payrolls) for the month of September increased to 213,000

  • Market US Manufacturing PMI for September contracted a bit to 57.5

  • September ISM Manufacturing  fell to  56.6 from 59 the prior period

  • August Construction Spending fell by -0.8% after rising by 1.2% the previous month.

  • Vivint.solar (VSLR) priced 20.6 million shares at $16 last night. The opening print this morning was $17.01 on 3,736,597 shares. 

  • Chrysler, Nissan and General Motors all reported a 19% in sales in...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Sep 30 2014 | 10:14 AM

From The Trading Floor: Concern that Russia may introduce capital controls on money flowing out of the country and weaker than expected consumer confidence have equities trading in mixed to negative territory this morning

  • ISM Milwaukee rose in September to 63.18, significantly higher than the previous period. 

  • The Case-Shiller Home Price Index for July increased 6.7%, the slowest pace in almost 2 years

  • Consumer Confidence for the month of September decreased to 86

  • September Chicago Purchasing Managers Index fell to 62 from 64.3 the previous period 

  • The U.S. is set to become the world’s largest producer of liquid petroleum, with output likely to exceed Saudi Arabia’s this month or next for the first time since 1991. U.S. production of oil and related liquids such as ethane and propane was level with Saudi Arabia in June and again in August

  • September CPI report showed...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Sep 29 2014 | 10:16 AM

From The Trading Floor: Global unrest, this time focused on the pro-democratic protests in Hong Kong have the markets taking back all that they gained on Friday

  • Consumer Spending in the US climbed in August by 0.5% as further job gains encouraged households to loosen their purse strings

  • Personal Income rose by 0.3% in August

  • Pending Home sales for the month of August fell by -1.0%

  • The Dallas Fed Manufacturing Index is at 10:30

  • Following the shock resignation of Bill Gross from Pimco on Friday, investors withdrew about $10B from the investment firm

  • Encana  buying Athlon Energy ATHL for $5.9 billion.

  • Vista Equity Partners buying Tibco Software TIBX for $4.3 billion

  • NiSource's board has approved plans to split into two publicly traded companies, and will file for a new master limited partnership named Columbia Pipeline Partners. NiSource...

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