From The Trading Floor: Stocks are continuing their gains from yesterday as a lack of geopolitical turmoil, positive corporate earnings and strong economic results power the markets higher in early trading.
The cost of living in the US. Climbed in July at the slowest pace in 5 months. The CPI increased 0.1% matching analyst estimates indicating that price pressure is limited as the economy picks up.
Housing starts surged in July to 1.09 million annualized rate, the highest levels in 8 months, reinforcing the recent pickup in builder optimism.
From The Trading Floor: Equities are trading in the green today as a flurry of M&A activity and an ease in geopolitical tensions have investors back in bullish mode.
NAHB Housing Market Index (home builder confidence) climbed to 55 for August which is the highest reading since January of this year.
Dollar General makes a proposal to acquire Family Dollar for $78.50 per share
Sensors and electrical controls maker Sensata Technologies Holding NV said it would buy the Schrader group of companies for an enterprise value of $1 billion.
From The Trading Floor: Equities are trading in mixed to positive territory this morning after the Dow fell to its lowest level since April as a report that Russia wants to de-escalate the crisis in Ukraine has offset American airstrikes in Iraq.
The productivity of US. Workers rose by 2.5%, more than projected in the 2nd quarter, rebounding from the biggest drop in more than 3 decades and helping to restrain labor costs.
Unit Labor Costs fell by to 0.6%, much lower than the 11.8% the previous quarter
From The Trading Floor: Equities are trading in positive territory this morning on a better than expected reading on Jobless Claims and continued positive 2nd quarter earnings releases
Initial Jobless Claims for the period ending August 2nd fell to 289,000 from the previously adjusted 303,000. This was the lowest since 2006
Consumer Comfort for the period ending August 3rd remained largely unchanged vs the previous period at 36.2
Consumer Credit is due to be released at 3:00 pm today.
From The Trading Floor: The breakup of 2 large M&A deals in conjunction with the unease over the Russia / Ukraine tensions has the market trading in mixed territory this morning. Strong earnings from some bellwether companies is attempting to reverse the negative trend
Mortgage Applications for the week ending August 1st increased by 1.6%
The Trade Balance shrank to a 5 year low shrinking to $41.58 billion
Sprint is abandoning its bid to acquire T-Mobile USA due to excessive regulatory hurdles
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