From The Trading Floor: Despite better than expected jobless claim data, investors have chosen to book some profits after the ECB set a deadline of March 25th for Cyprus aid and manufacturing data in Germany unexpectedly fell this month.
Fewer Americans than forecast filed first time claims for unemployment insurance last week (336,000) a signal the U.S. labor market is maintaining its recent progress
The House Price Index rose slightly to 0.6% for January
Aviv REIT (AVIV) went public on the NYSE this morning pricing 13.2 million shares at $20, above the range of $18 - $20 with an opening price of $22.20 on a print of 1,451,527 shares.
American’s view of the economic outlook improved in March to the highest level this year as stock prices rallied to a record high. The weekly measure fell for the first time in 7 weeks to minus 33.9 from minus 31.6
Ahead of the Bell: Dow futures are trading up 15 points and S&P futures are trading up 2 points as reports in Europe showed that German manufacturing unexpectedly contracted while Cyprus’s president worked on a new plan to obtain a European bailout. A purchasing managers’ index for Germany’s manufacturing industry unexpectedly fell to 48.9 this month from 50.3 in February, London-based Markit Economics reported today; readings below 50 indicate contraction. Investors are also awaiting a slew of economic data today, including jobless claims, home sales and lead indicators.
On the economic calendar today, initial jobless claims for the week ended 3/16 will be released and 340K is expected, vs. 332K the week before. PMI manufacturing index for March will be released before the market opens and economists forecast a reading of 55.0, compared to 55.2 the month prior. Existing...
On Thursday 21 March 2013, Pierre Lebeau, Partner and Head of Corporate Finance of Petercam and Maarten Wolleswinkel, President of M&A International Inc. rang the Opening Bell at NYSE Euronext Brussels to celebrate 13th M&A Mid-Market Forum hosted by Petercam in Brussels. More than 200 professionals working in M&A are attending this unique and highly interactive forum. M&A International was founded in 1985 to harness the entrepreneurial spirit of a group of highly specialized, focused merger and acquisition advisory firms across the globe.
The Frans Hals Museum marks its new exhibition Frans Hals. Eye to Eye with Rembrandt, Rubens and Titian.
In Frans Hals Year 2013, key works by the artist will be shown amidst paintings by such famous predecessors as Titian, Rembrandt, Rubens, Van Dyck and Jordaens in the new exhibition. This extraordinary confrontation of old masters is essential to the understanding of seventeenth-century art. Famous painters often produced their works in response to one another, seeking to outdo the other artist and create something exceptional. The best way to assess the results of their efforts is to look at comparable works side by side. Visitors can see for themselves the artistic challenges Hals must have faced and what makes him unique. The paintings come from some of the world’s greatest museums, among them the National Gallery in London...
Columbia Business School Professor Charles Jones and CFTC Commissioner Bart Chilton bring two different visions to the growing debate over the role high-frequency trading (HFT) plays in our financial markets.
Writing in a POLITICO opinion page, Jones frames the debate by asking: “Is high-frequency trading a threat to our financial markets or an important innovation that benefits today’s investors?”
Surveying nearly 30 theoretical and empirical papers to date, Jones conducted the first ever “meta-analysis” and “clear-headed assessment of the hard data” on HFT, and finds that “HFT and related technologies are making markets better, not destabilizing them.”
“Almost every time there has been a change in market structure facilitating more HFT activity,” Jones writes, “liquidity and overall market quality have improved.” Since “[o]ne computer algorithm can now do the job of...