May 17 2012 | 10:22 AM
New York City - Stock Exchange (NYSE) Deutsch: New York City - Börse (NYSE) (Photo credit: Wikipedia)
Each year, companies distribute millions of...
VP, Corporate Actions & Market Watch
May 17 2012 | 10:13 AM
Breakfast Bites: Ongoing concerns over the European financial crisis and less than stellar economic data is overshadowing some positive earnings from the likes of Wal-Mart
- It is The New York Stock Exchange's 220 year anniversary!!
- Jobless claims were unchanged at 370,000 in the week ending May12th, a sign the labor market is making little to slow progress.
- The Philadelphia Fed general economic index decreased to -5.8 in May from 8.5. Economists had predicted it would rise to 10.
- The Index of U.S. Leading Indicators unexpectedly fell in April indicating the pace of economic expansion may cool.
- Wal-Mart's Q1 EPS of $1.09 beat by $0.05. Revenue grew 8.6% to $112.3B and beat by $1.8B. Expects Q2 EPS of $1.13-$1.18 vs. consensus $1.16
- Consumer confidence dropped last week to the lowest level since the end of January (-43.6) as slower job growth contributed to overall consumer...
Managing Director, The Capital Markets Desk
May 17 2012 | 9:42 AM
Today the NYSE celebrates its 220th birthday.
On May 17, 1792 a group of 24 stockbrokers – pioneers in a business that was still in its infancy – signed an agreement to trade only with each other and to charge their customers a standard commission. The brokers signed their historic agreement underneath a Buttonwood tree that stood on Wall Street, or so the story goes. The document has since been called the “Buttonwood Agreement” and marks the origins of the New York Stock Exchange.
How does a company stay successful for 220 years? Certainly by being best at what it does. Also by being able to see down the road and changing to meet new opportunities and challenges. All while remaining steadfast to its principles and true to itself.
Director, Archives, Corporate Giving and Education
May 17 2012 | 7:54 AM
Ahead of the Bell: Dow futures are trading down 27 points and S&P futures are trading down 4 points as investors worry that a Greek exit from the euro zone might cause a domino effect, and drag other peripheral countries with it. Greece's escalating crisis, and fears of contagion to other debt laden EU members, is rattling financial markets, after the ECB said it will temporarily stop lending to some Greek banks to limit risk.
- On the economic calendar today, initial jobless claims will be out before the market opens and it is expected to be 365K, compared with 367K for the previous week. Philadelphia Fed Survey for May will be out after the market opens and it is expected to be 10.0, versus 8.5 for April. The conference board will release leading indicators for April after the opening bell and it is forecasted to be 0.1% compared with 0.3% for March....
Director, Market Watch & Corporate Actions