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Juli 29, 2014
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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Gepost Door: Charles Brown
Managing Director, The Capital Markets Desk
Jul 28 2014 | 10:17 AM

From The Trading Floor: Equities turned lower this morning as a flurry of M&A activity could not overturn investor’s hesitation in front of a heavy week of earnings and economic reports

  • Dollar Tree will acquire Family Dollar for $74.50 in cash and stock

  • U.S. real estate website operator Zillow said it would buy smaller rival Trulia for $3.5 billion in stock. Trulia shareholders will receive 0.444 common shares of Zillow for each share they hold and will own about 33% of the combined company

  • Markit US. Composite and Services PMI came in largely unchanged at 60.9 and 61 respectively

  • Pending Home Sales for June fell by -1.1%

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

  • 140 of the S&P 500 companies will report this week. 22 IPO’s are scheduled to price this week

  • In China, Industrial Production grew by 18% in June

  • Brent crude...

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Gepost Door: Charles Brown
Managing Director, The Capital Markets Desk
Jul 25 2014 | 10:03 AM

From The Trading Floor: After the S&P closed at a new high yesterday, the markets are pulling back this morning as traders are cautious ahead of the weekend on mixed earnings and continued unrest in Gaza and the Ukraine

  • Orders for US. Business equipment rose in June by 0.7% following a revised drop the prior month, indicating corporate investment remains stop and go and could still hold back economic growth. Business demand improved, evidenced by a 1.4% increase in nondefense capital goods orders excluding transportation that followed a 1.2% decline in May. Shipments of these goods, however, dropped for the third straight month, declining 1.0%.
  • Advanced Drainage Systems (WMS) priced 14.5 million shares at $16.00. They opened the day at $16.05 on a print of 908,315 shares. 

  • There are 22 IPO’s scheduled to price and go public next week

  • Argentine representatives have concluded that the best option for their country...

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Gepost Door: Charles Brown
Managing Director, The Capital Markets Desk
Market Drivers
Jul 24 2014 | 4:11 PM

Equity markets shrugged off geopolitical tensions, and continued their slow grind upward this week. The rally has been helped by a host of positive earnings releases, as well as generally optimistic economic data. Here are three things that have been driving the market this week.

Geopolitical Unrest – Russia, Ukraine, Israel

“Geopolitical unrest” has been a popular buzzword used throughout financial circles and in the media this week. The term refers to several hotbed areas across the globe impacting the psyche of U.S. equity markets. First, we have the ongoing situation following the downing of Malaysian Flight 17 in Ukraine, allegations of tampering with the crash site, and finger pointing for responsibility. We also have the escalating conflict in Israel. The recent round of fighting there between Hamas and Israel has taken more than 600 lives, with little hope for a cease fire in the near future. Lastly, we have the deteriorating situation in Iraq, where...

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Gepost Door: Ronald Bohlert
Managing Director, Global Corporate Client Group
Jul 24 2014 | 10:16 AM

From The Trading Floor: Equities are trading in mixed territory despite some solid earnings on weaker than expected New Home Sales. 

  • Initial Jobless Claims fell by 19,000 to 284,000 for the period ending July 19th, an 8 year low

  • Markit US. Manufacturing PMI slipped slightly to 56.3 for July vs. 57.3 the period earlier

  • The Bloomberg Consumer Comfort Index for the period ending July 20th came in roughly the same as the period before at 37.6

  • New home sales fell to 406,000 for June, lower than the revised 442,000 for May

  • Kansas City Fed Manufacturing Activity Index is at 11:00

  • EU diplomats will convene today to determine an extensive set of economic sanctions to impose upon Russia. The meeting follows the failed attempt of EU foreign ministers earlier this week to formulate a sanctions program.

  • Troubles at the European Central Bank...

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Gepost Door: Charles Brown
Managing Director, The Capital Markets Desk