The Latest Posts
October 24, 2014
NYSE MAC Desk
Sep 26 2014 | 10:15 AM

From The Trading Floor: Equities are rebounding this morning from the worst day since July as corporate earnings came in better than expected and economic growth accelerated at the fastest pace since 2011

  • The US. economy expanded at a 4.6% annualized pace, the fastest rate since the last 3 months of 2011 as companies stepped up investment and households continued to spend.

  • US Consumer confidence climbs to 84.6 for the month of September, a 14 month high

  • Nike reports Q1 EPS $1.09, consensus 88c. Reports Q1 revenue $8B, consensus $7.83B

  • Coach announced that Lew Frankfort will step down as Executive Chairman after his current term on the board expires in November. The retailer plans to give Frankfort the title of Chairman Emeritus due to his long service with the company.

  • Consumer prices cooled in Japan during August in a development that underscores the tightrope the Bank of Japan is walking in...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Sep 25 2014 | 10:05 AM

From The Trading Floor: Equities are declining this morning, a day after the S&P jumped by the most in a month as traders mulled over a less than expected rise in Jobless Claims and a drop in orders for Durable Goods

  • Applications for unemployment benefits increased by 293,000, less than forecast last week as an improved economy prompted employers to retain staff.

  • Orders for Durable Goods slumped by -18.2% as commercial aircraft orders dropped after surging the previous period. Orders for business equipment climbed more than forecast (0.6%) indicating corporate investment will help spur economic growth

  • Markit Services PMI for September came in at 58.5 vs 59.5 the previous period. Markit US Composite came in at 58.8 vs. 59.7 the previous period.

  • Consumer confidence fell last week to an almost 4 month low (35.5)  as American’s views of the economy and their finances deteriorated

  • ...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Sep 24 2014 | 12:09 PM

From The Trading Floor: The markets are trading in positive territory this morning, boosted by a slew of IPO’s and a rise in new home sales for August

  • Mortgage Applications for the period ending September 19th fell -4.1%

  • New Home sales for the month of August rose to 504,000 from an adjusted 427,000 the month before

  • President Barack Obama urged countries to follow the U.S.'s lead on combating global warming at yesterday's U.N. Climate Summit. While leaders were united on laying the groundwork for a new global climate-change treaty, sharp differences arose on matters such as deforestation, carbon pollution and methane leaks from oil and gas production

  • Walgreen is considering the sale of just over 50% of its infusion services business, in a deal that could value the unit at around $1.5B. The division offers infusion services at home and at care centers across the U.S. Infusion therapies are used for...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Sep 23 2014 | 9:49 AM

From The Trading Floor: Equities are trading lower this morning after new broke that the US and other countries conducted airstrikes over Syria and after the government moved to curb tax benefits to corporations that do inversion deals. 

  • July Home Prices rose 0.1% vs the previous month

  • The US and Arab allies commenced air strikes against ISIS in Syria

  • US Treasury  details new provisions aimed at preventing tax inversions undertaken with the main purpose of evading US taxes. The striking thing about the new provisions is that they don't include any grandfather clause for pending transactions. They apply to deals closed on September 22 or after September 22.

  • Minneapolis Fed President Kocherlakota offered some dovish policy views in a speech last night, yet the market remains in a funk where the negatives appear to be outshining the positives.

  • Philips is planning to split its 120-year-...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Sep 22 2014 | 10:08 AM

From The trading Floor: Equities are trading lower this morning after the S&P 500 reached record highs last week as China’s Finance Minister quelled speculation that the government will boost stimulus even as the country’s growth faces downward pressure

  • Chicago Fed National Activity Index fell to -0.21 for August

  • US. existing Home Sales fell -1.8% to 5.05 million annual rate

  • Alibaba's IPO has now become the world's largest-ever at $25B, after bankers issued additional shares to raise the deal size by 15% on strong demand. The underwriters exercised a greenshoe option to sell an additional 48M ADSs, which was widely expected should the shares perform well in the public market

  • After much speculation, Siemens has announced that it would buy Dresser-Rand for $7.6B

  • Proclaiming its largest single order by number of planes from an African carrier, Boeing  announces it has received an order...

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