The Latest Posts
November 25, 2014
NYSE MAC Desk
Oct 7 2014 | 10:13 AM

From The Trading Floor: Stocks are trading lower today after the International Monetary Fund cut its growth forecast and warned of frothy stock levels in the face of slowing growth in Europe

  • National Retail Federation released its holiday sales forecast for 2014 and it is expecting good things. Sales for the months of November and December are expected to be up 4.1% versus a 3.1% increase in 2013 and an average 2.9% increase over the last ten years

  • The Obama administration has called for new protocols to help stop the spread of Ebola, including additional passenger screening at airports and increased efforts to educate medical providers on how to handle cases.

  • Rio Tinto says it rejected an informal approach from Glencore about a potential $160B merger in August and has had no further contact

  • Kansas City Fed President Esther George reiterated that a growing economy means the U.S. central bank needs to move toward...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 6 2014 | 10:04 AM

From The Trading Floor: Equities are trading in positive territory this morning, continuing the momentum from Friday’s rise on corporate deals announced by Hewlett-Packard , CareFusion and Becton Dickinson

  • HP is planning on spinning off its PC and  printer operations into a separate publicly-traded company, reports the WSJ. An announcement could come as soon as today, although the spinoff is expected to happen in 2015. If the H-P division goes off as planned, it would give rise to two publicly traded companies, each with more than $50B in annual revenue.

  • Brazil’s Presidential race is headed for another round after leftist President Dilma Rousseff won the most votes on Sunday but failed to clinch the majority she needed to win a second term outright.

  • The crowds of pro-democracy protestors dwindled today, although barricades could still be seen despite government warnings that roads would be cleared before the start of...

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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 3 2014 | 10:02 AM

From The Trading Floor: Stocks are trading in positive territory this morning indicating the S&P 500 will pair its biggest loss in 2 months, as a better than expected Non-Farm Payroll number boosted confidence in the world’s largest economy.

  • The Trade Balance unexpectedly narrowed by -0.5% to $40.1 billion in August, the lowest levels in 7 months
  • Non-Farm Payrolls increased by 248,000 in September, significantly larger than the 180,000 increase the period before

  • The Unemployment rate dropped to 5.9%

  • The Labor Participation Rate remained flat at 62.7%

  • Markit Services PMI rose to 58.9 for September

  • Markit Composite PMI rose to 59 for September

  • ISM Non-Manufacturing Composite came in at 58.6 for September, pretty much on target

  • FMSA Holdings Inc (FMSA) priced 25 million shares at $16. The opening print was $16.55 on 2,185,571 shares.

  • ...
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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 2 2014 | 10:21 AM

From The Trading Floor: Equities are trading in mixed territory this morning as jobless claims unexpectedly fell for the latest period and ECB President Draghi disclosed details of his stimulus program. 

  • Challenger Job Cuts decreased by -24.4% for September

  • Initial Jobless Claims fell to 287,000 for the period ending 9/27 from the previous 295,000. Initial claims below 300,000 are often associated with nonfarm payroll gains in excess of 250,000. We'll see what the September employment report produces on Friday, but if nothing else, the claims trend since the last employment report is an expectation that August nonfarm payrolls should see a pretty decent sized upward revision.

  • ISM New York rose for September to 63.7

  • Consumer Confidence for the period ending 9/28 fell slightly to 34.8 from 35.5 the previous period

  • Factory Orders for August fell by -10.1%, more than expected.

  • ...
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Posted by: Charles Brown
Managing Director, The Capital Markets Desk
NYSE MAC Desk
Oct 1 2014 | 10:28 AM

From The Trading Floor: Equities are trading in negative territory this morning on concerns over European economic growth (Italy cut its growth forecast, German Manufacturing shrank and euro area factories lowered prices in September) and increasing tensions in the Ukraine.

  • Mortgage Applications for the period ending 9/26 fell slightly by -0.2%

  • ADP Employment (private payrolls) for the month of September increased to 213,000

  • Market US Manufacturing PMI for September contracted a bit to 57.5

  • September ISM Manufacturing  fell to  56.6 from 59 the prior period

  • August Construction Spending fell by -0.8% after rising by 1.2% the previous month.

  • Vivint.solar (VSLR) priced 20.6 million shares at $16 last night. The opening print this morning was $17.01 on 3,736,597 shares. 

  • Chrysler, Nissan and General Motors all reported a 19% in sales in...

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