The Latest Posts
September 19, 2014
NYSE MAC Desk
Aug 4 2014 | 10:24 AM

From The Trading Floor: The market is rebounding from its biggest weekly loss in 2 years as a reprieve of geopolitical concerns is encouraging risk takers today.

  • ISM New York rose to 68.1 for July from June’s 60.5 reading.

  • Portugal announced a 4.9 billion euro bailout of Banco Espirito Santo SA

  • Islamic State fighters have taken control of Iraq's biggest dam, two oil fields and three predominantly Kurdish towns in northern Iraq. Islamic State, previously known as ISIS, captured the electricity-generating Mosul Dam (which could give the ability to flood major Iraqi cities or withhold water from farms) in less than 24 hours, The Ain Zala and Batma oil fields have a production output of 30,000 barrels per day.

  • Japanese stocks fell to a more than one week low this morning, with financials and sea transporters leading the losses, as investors turned risk averse due to last week's U.S. stock sell-off, concerns over...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Aug 1 2014 | 10:33 AM

From The Trading Floor: The markets have rebounded this morning after the Futures were down as the Non-Farm payroll number exceeded the magical 200,000 mark for the 6th straight month. The 209,000 was less than expected which also eased speculation that the Fed would look to raise rates in the near term

  • Payrolls in the U.S. rose by 209,000 for July the 6th straight month over 200,000, but slightly less than the 230,000 estimated. 

  • The Jobless Rate increase to 6.2%

  • The Labor Participation Rate remained largely unchanged at 62.9%

  • The average workweek was unchanged at 34.5 hours

  • Consumer Spending in the U.S. rose in June by 0.4%, the most in 3 months signaling that continued job growth will continue to bolster the economy.

  • The PCE Deflator came in as expected at 0.2% for June

  • The University of Michigan Consumer Confidence number came...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Jul 31 2014 | 10:13 AM

From The Trading Floor: Equities are trading lower this morning as a bigger than expected jump in labor costs have traders nervous that the Fed will rates sooner than later. Also the second Argentinian bond default in 12 years is not helping the geopolitical front

  • Challenger Job Cuts for the month of July increased by 24.4%

  • Initial Jobless Claims for the period ending July 26th increased to 302,000, well above the previously adjusted 279,000

  • Second quarter Employment Cost Index increased 0.7%. That was up from 0.3% in the first quarter. Helping to fuel that jump was a 0.6% increase in wages and salaries that followed a 0.3% gain in the first quarter

  • ISM Milwaukee for July came in better than expected at 63.87

  • The Chicago Purchasing Managers Index came in at 52.6, lower than estimated for July

  • Consumer Comfort for the period ending July 27th slipped to 36....

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Jul 30 2014 | 10:32 AM

From The Trading Floor: While the markets jumped out of the gate in positive territory due to strong earnings and economic reports, they have recently given back all of their gains as a much better GDP report has rile speculation that the Fed could hike rates sooner

  • Mortgage Applications for the week ending July 25th fell -2.2%

  • ADP Employment (private sector) rose by 218,000 for July, less than the 230,000 expected

  • GDP jumped by 4.0% for the 2nd quarter significantly higher than the revised -2.1% the previous period

  • The FOMC rate decision is at 2:00 pm EST. The Fed is likely to go forward with its plan to wind down its bond-buying stimulus today, cutting its monthly asset purchases to $25B from $35B - on target for shutting the program this fall

  • AstraZeneca has closed on a deal to purchase the rights to lung drugs developed by Almirall, expanding the drug-maker's...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Jul 29 2014 | 10:09 AM

From The Trading Floor: Strong earnings from sector bellwethers have investors optimistic over second quarter earnings season ahead of the Fed meeting and some key economic readings on the economy

  • Home Prices rose in the 12 months ending May at the slowest pace in more than a year as there has been a lull in the housing market. The CaseShiller index of property values in 20 cities throughout the US. Rose 9.3% from May 2013 after rising 10.8% the previous period. 

  • Consumer Confidence for the month of July came in at 90.9 vs. 85.4 expected

  • Pfizer reported higher-than-expected second-quarter earnings, helped by growing sales of its cancer medicines.

  • Merck reported better-than-expected quarterly results, with sales of newer drugs mostly offsetting declining sales of drugs facing generic competition.

  • Argentina has sent a delegation to meet with court-appointed mediator Daniel Pollack in NY...

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