The Latest Posts
August 2, 2014
End of Day Report
Jun 30 2014 | 4:17 PM

U.S. equities were mixed amid range bound Monday trading as the markets digested Chicago PMI and pending home sales ahead of the June employment report on Thursday.  Today’s earnings calendar was light; deal news and research dominated corporate headlines.  Of the major sectors, Utilities and Materials led gains, while Industrials and Telecom topped declines.  Gold is higher, while oil and the dollar are currently lower. 


 


In US economic news, existing homes sales showed some life, with the National Association of Realtors Pending Homes Sales Index coming in at a very strong +6.1%, well above consensus of +1.1%.  This gain, coming off a low base, is the largest since the housing stimulus efforts of April 2010. 


 


A separate report from The Institute For...

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Specialist, Market Watch
NYSE MAC Desk
Jun 30 2014 | 10:08 AM

From The Trading Floor: Relatively quiet day in the market as we close out the last day of June looking to stretch the longest streak of quarterly gains since 1998

  • ISM Milwaukee for June came in at 60.57 less than the previous month when the reading was 63.49

  • Chicago Purchasing Managers Survey came in at 62.2 slightly lower than the expected 63.0

  • Pending Home Sales for the month of May jumped 6.1%, the largest monthly jump since April of 2010

  • The Dallas Fed Manufacturing Activity Index is at 10:30

  • General Motors will delineate the terms and conditions applying to its compensation fund today. The fund is being setup to pay victims or families connected to the faulty ignition switch problem that led to 13 reported deaths and hundreds of injuries.

  • Argentina will enter a state of technical default today, as the $832M payment given to holders of the country’s restructured bonds was...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
Ahead of the Bell
Jun 30 2014 | 8:29 AM

MARKET ACCESS CENTER: MORNING REPORT


Ahead of the Bell: Dow futures are trading down 11 points and S&P futures are trading down 2 points. Investors are hopeful a slew of economic data, such as manufacturing, inflation, and jobs report due out this week will show evidence that the global economy is rebounding from a recent slowdown. With second quarter earnings season around the corner, market participants are optimistic companies will provide a brighter picture for the second half of 2014. The European Union's statistics office Eurostat said the regions inflation in June was flat, taking some pressure off the ECB to act again, according to reports.


On the economic calendar today, Chicago PMI will be out after the opening bell, it is expected to be 64.0 compared with 65.5 for the month prior. Pending home sales will also be out after the market opens, a reading of 1.0 is forecasted versus 0.4% for April.
The dollar is up against the Japanese...

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Posted by: Parasnand Madho
Director, Market Watch & Corporate Actions
End of Day Report
Jun 27 2014 | 4:38 PM

End of Day Report

U.S. stock indices, with a late day rally, reversed losses and ended Friday in positive territory. Seven of the ten major sectors ended in the positive with Information Technology and Utilities leading the gains. Materials and Healthcare topped declines.

Internationally, the widespread concern about Iraq and Ukraine and subdued economic data left European shares facing their first week of losses since early April. Ongoing violence in Iraq continues to be a concern for investors, as prolonged tension in the region could cause a continued uncertainty in crude oil prices and might weigh on consumer spending. Crude and Natural gas are down. Gold is fractionally higher.

U.S. consumer sentiment rose in June as consumers remained optimistic the sluggish first quarter was due to difficult winter conditions, a survey released on Friday showed. The Thomson Reuters/University of...

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Specialist, Market Watch
NYSE MAC Desk
Jun 27 2014 | 10:14 AM

From The Trading Floor: Stocks are trading in cautious to negative territory this morning despite better than expected consumer confidence as consumers book profits for a second day in a row on the hangover effect of weaker consumer spending and hawkish comments from some Fed Governors

  • June US Michigan Consumer Sentiment (final) 82.5 vs  consensus 82.0

  • Russell Investments is planning its annual index realignment before the market close, affecting more than $5T in assets. Credit Suisse estimates $42B will trade as a result of the adjustment, resulting in one of the biggest trading days of the year in terms of dollar volume. Asset managers and investors will have to realign their portfolios to match up with the new shifts in indices such as the Russell 2000 and the Russell 3000.

  • Nike reports Q4 EPS 78c, consensus 75c. Reports Q4 revenue $7.4B, consensus $7.34B. Reports Q4 worldwide futures orders up %11, 12% growth excluding...

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