The Latest Posts
August 30, 2014
NYSE MAC Desk
Jul 7 2014 | 10:05 AM

From The Trading Floor; Equities are trading in negative territory this morning after setting new highs last Thursday as analysts move their estimates forward as to when the Fed will raise interest rates

  • Archer Daniels Midland says it will buy Wild Flavors for €2.2B ($3B) in cash, and assume €100M of net debt. Wild Flavors manufactures flavors and colors for the food industry with a particular focus on healthy products.

  • 2nd Quarter Earnings season unofficially begins on Tuesday after the close with Alcoa releasing earnings

  • IMF head Christine Lagarde warned the pace of growth in the second half of the year could be weaker than expected due to weak investment

  • Bank of Japan Governor Kuroda thinks core inflation in Japan will be about 1.25% year over year for some time

  • Germany's industrial production declined 1.8% month‐over‐month in May

  • Afghanistan’s election for a new...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Jul 3 2014 | 10:07 AM

From The Trading Floor: Equities are trading well into the green with the Dow surpassing the 17,000 level as the government reported that jobs increased by level much higher than expectations for June

  • Challenger Job Cuts decreased by -20.2% for June vs a year earlier

  • The Trade Deficit in the US. Narrowed more than forecast in May on record exports. The gap shrank by 5.6% to $44.4 billion

  • Employers added 288,000 jobs in June well above the 224,000 the prior month

  • The unemployment rate fell to 6.1%, the lowest since September 2008

  • Average Hourly earnings rose by 0.2%

  • The Participation Rate stayed the same at 62.8%

  • Bloomberg Consumer Comfort came in at 36.4 for the period ending June 29th vs. 37.1 the previous period.

  • Markit Services and Composite PMI for June both came in at 61.0

  • ISM Non-Manufacturing for June...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
Ahead of the Bell
Jul 3 2014 | 8:12 AM

MARKET ACCESS CENTER: MORNING REPORT


Ahead of the Bell: Dow futures are trading up 16 points and S&P futures are trading up 2 points. All eyes will be on the June employment report due out before the opening bell today. Economists are forecasting the private sector created 211K jobs last month compared with 217K in July, while the unemployment rate is expected to remain unchanged at 6.3%. According to a Reuters poll of economists, the June employment report is expected to be strong boosted by an expansion in manufacturing and robust auto sales, despite the dismal GDP numbers for the first half of 2014.


Other economic data on the calendar today, include weekly jobless claims which is also scheduled to be published prior to the market opening, 314K is expected versus 312K last week.
The dollar is up against the euro and the British pound and down against the Japanese yen. Gold is trading at $1,319. Crude oil is currently trading at $103 a...

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Posted by: Parasnand Madho
Director, Market Watch & Corporate Actions
End of Day Report
Jul 2 2014 | 4:19 PM

Stocks were mostly higher on Wednesday with the major indexes hovering near record levels in range bound trading.  Investors focused on a better-than-expected ADP employment report, inline Factory Orders, and improved EPS guidance for the upcoming Q2 earnings season.  Healthcare and Telecom  led S&P 500 gainers while Utilities – still the best performing sector for 2014 – topped declines.  Crude Oil is lower while Gold and the dollar trade higher. 


 


In economic news, ADP private payrolls surprised to the upside, jumping 281K in June and well ahead of consensus for a 206K gain.   The reading was the biggest increase since November 2012.  Factory orders, which represent the dollar level of new orders for both durable and nondurable goods, fell 0.5% in May vs consensus for a 0.4% slip.  The news had little effect on equities.  Investors now look towards a long list of employment data due...

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Specialist, Market Watch
NYSE MAC Desk
Jul 2 2014 | 10:14 AM

From The Trading Floor: After closing at record levels yesterday, the benchmark indexes are trading modestly in positive territory as investors weigh good private payroll numbers against disappointing Factory Orders

  • U.S. MBA Mortgage Applications fell for the week ending June 27th by 0.2%

  • U.S. July RBC Consumer Outlook Index fell to 50.5 after 51.0 last month

  • Employment at private companied as measured by ADP climbed in June by 281,000, the most since 2012, a sign the job market is strengthening

  • ISM New York rose to 60.5 during June well above the 56.3 level during May.

  • Factory Orders for May dropped -0.5% worse than the expected -0.3%

  • In another move trimming its food product lines, Nestle has sold Juicy Juice to buyout firm Brynwood Partners for up to $200M.

  • Ukraine pressed ahead with a military offensive against pro-Russia militants in the east...

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