Closing Comments Real Time News items

• Equities ClosePosted:12/03/2010 21:17 GMT by NeedToKnowNews
  Equities finished the day little changed with the Dow up 0.1% to 16025, the S&P unchanged at 1150 and Nasdaq flat at 2368. Before the opening bell, Retail Sales came in better than forecast, and the S&P rallied off the news. The S&P would open the floor session moderately higher but peaked at 1153 in early trade. The majority of the day had little news and the S&P stayed in a 6-point range between 1147 and 1153 before ending the day virtually unchanged. Half of the sectors in the S&P were positive with the 0.6% in Materials outweighing the 0.6% decline in Utilities. Aeropostale rose 4.2% after better-than-expected earnings but Schwab fell 3.5% after lowering their profit forecast. At 8:30am Monday, the March Empire FED Index is expected at 21 from 24.9 previous. At 9am, January Net Long Term TIC Flows are forecast at $55bln from $63.3bln and Total TIC Flows are projected at $40bln from $60.9bln. At 9:15am, February Industrial Production is expected to decline 0.2% after a 0.9% increase and Capacity Utilization is forecast at 72.5% from 72.6%. At 1pm, the March NAHB Housing Market Index is projected at 16 from 17. Later in the week, the FOMC Rate Decision, Housing Starts, CPI and PPI are released.
• Equities ClosePosted:11/03/2010 21:00 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 0.4% to 10612, the S&P gaining 0.4% to 1150 and Nasdaq adding 0.4% to 2368. Overnight, China February CPI rose more than expected, stoking fears that China will pare back stimulus. This led S&P futures falling before the bell, and the index sold off further after Continuing Claims were higher-than-forecast. The S&P traded in negative territory for most of the floor session, but finally broke through resistance at yesterday
• Equities ClosePosted:10/03/2010 21:01 GMT by NeedToKnowNews
  Equities finished mixed to higher with the Dow relatively unchanged at 10567, the S&P rising 0.5% to 1146 and Nasdaq gaining 0.8% to 2359. A well-subscribed Citigroup trust preferred share offering helped boost the S&P and Financials stocks led the index higher in early trade. The S&P erased its gains into lunch, but support at yesterday
• Equities ClosePosted:08/03/2010 21:00 GMT by NeedToKnowNews
  Equities finished the day mixed with the Dow down 0.1% to 10553, the S&P relatively unchanged at 1139 and Nasdaq up 0.3% to 2332. The S&P opened the day marginally higher after the official announcement of AIG
• Equities ClosePosted:05/03/2010 21:02 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 1.2% to 10566, the S&P rising 1.4% to 1139 and Nasdaq jumping 1.5% to 2326 Equities were higher this morning as the EUR5bln Greek 10-yr Note auction was well-subscribed and the January OECD Leading Indicators showed continuing signs of recovery. An hour before the opening bell, S&P Futures really took off when NonFarm Payrolls showed a smaller decline that expected. The S&P continued to rally in early floor trade, and extended its gains throughout the day, before closing near highs. For the week, the S&P gained 3.1%. Nine out of ten sectors in the S&P were higher with Financials up 2.2% and Energy shares adding 2.1%. There are no economic releases or FED speakers on Monday. Later in the week, Wholesale Trade, Trade Balance, and Retail Sales will be released.
• Equities ClosePosted:02/03/2010 20:59 GMT by NeedToKnowNews
  Equities finished flat to higher with the Dow relatively unchanged at 10406, the S&P up 0.2% at 1118 and Nasdaq rising 0.3% to 2281. The S&P opened the floor session higher and extended its gains in early trade as both energy and metals rallied. However, the index peaked at 1123 with two hours left in the trading day, and ultimately pared its losses into the close. The S&P spent the entire day in positive territory but only traded in a tight range between 1117 and 1123. Seven out of ten sectors in the S&P were higher with Energy shares up 1%. Financials rose 0.6% as Wells Fargo increased 1.9%, Morgan Stanley gained 1.8% and Goldman added 1.4%. At 7am tomorrow, MBA Mortgage Applications will be released after falling 8.5% in the previous week. February Challenger Layoffs follow at 7:30, after a 70.4% y-o-y drop previous. At 8am, Dallas FED President Fisher speaks on the economy in New York and Philly FED President Plosser speaks at a Philly FED conference. At 8:15am, February ADP Employment is expected to fall 20k after declining 22k in January. At 9:15am, Boston FED President Rosengren also speaks at the Philly FED Conference. At 10am, February ISM-NMI is forecast to rise a point to 51.5. At 10:30am, EIA Petroleum Inventories are released with expectations for a 1.5mln build in Crude, a 750k build in Unleaded, a 750k draw in Distillates and a 0.2% increase in Refinery Usage. At 1pm, Atlanta FED President Lockhart speaks on the economy in New York. At 2pm, the Beige Book is released.
• Equities ClosePosted:01/03/2010 21:02 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 0.8% to 10404, the S&P rising 1% to 1116 and Nasdaq gaining 1.6% to 2274. Futures were higher in electronic trade as M&A activity boosted stocks. AIG agreed to sell its Asian life insurance unit to Prudential Plc for $35.5bln and German firm Merck KGaA bought Millipore for $7.2bln. The S&P extended its gains in early trade, rocketing through last week
• Equities ClosePosted:25/02/2010 21:04 GMT by NeedToKnowNews
  Equities finished the day lower with the Dow down 0.5% to 10321, the S&P falling 0.2% to 1103 and Nasdaq dipping 0.1% to 2234. Overnight, further worries about European debt pushed markets lower worldwide, and the S&P extended its losses after Initial Claims were higher-than-forecast and Durable Goods ex-Transports unexpectedly fell. The S&P continued to decline in early trade, but the index ultimately found support near its 21-day moving average (1088). The S&P caught a bid in the afternoon and eventually erased most of its losses on the close. Half of the sectors in the S&P were lower with Tech stocks down 0.4% and Consumer Staples up 1.1%. Citigroup fell 1.7% and Goldman declined 1.2%, but Apple rose 0.7% after rumors of a potential stock split. At 8:30am, Preliminary Q4 GDP is expected to rise 5.8% after a 5.7% increase in the Advanced reading. The GDP Price Index is forecast to rise 0.6% and Personal Consumption is projected to increase 2.1%. Also at 8:30am, February NAPM-New York is expected at 69 from 72.6. At 9:45, February Chicago PMI is forecast at 60 from 61.5. At 9am, FED Governor Duke testifies on housing before the House Financial Services Committee. At 9:55am, Final February University of Michigan Consumer Confidence is seen at 74 from 73.7 in the Preliminary reading. At 10am, January Existing Home Sales is forecast at 5.6mln from 5.45mln in December. Also at 10am, February NAPM-Milwaukee is released after a reading of 56 in January. At 10:45am, NY FED President Dudley and Minneapolis FED President Kocherlakota participate in a panel in New York. At 1:30pm, FED Governor Tarullo and Chicago FED President Evans discuss regulatory reform in New York.
• Equities ClosePosted:24/02/2010 21:01 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 0.9% to 10374, the S&P rising 1% to 1105 and Nasdaq gaining 1% to 2236. Before the open, strong earnings from Dollar Tree helped to outweigh poor results from Transocean. The S&P caught a bid off the opening bell, but sold off after New Home Sales came in much lower-than expected. Support at yesterday
• Equities ClosePosted:23/02/2010 21:02 GMT by NeedToKnowNews
  Equities finished the day significantly lower with the Dow down 1% to 10282, the S&P dropping 1.2% to 1095 and Nasdaq tumbling 1.3% to 2213. Before the bell, a lower-than-expected Case Shiller Housing number and disappointing earnings from Barnes & Noble outweighed better-than-forecast data from Home Depot and Macy
• Equities ClosePosted:22/02/2010 21:01 GMT by NeedToKnowNews
  Equities finished the day slightly lower with the Dow down 0.2% to 10383, the S&P dipping 0.1% to 1108 and Nasdaq declining 0.1% to 2242. Over the weekend, Schlumberger officially announced its purchase of Smith International for $11bln, a higher price than expected. This helped to outweigh disappointing earnings from Lowe
• Equities ClosePosted:19/02/2010 21:00 GMT by NeedToKnowNews
  Equities finished higher with the Dow up 0.1% to 10402, the S&P adding 0.2% to 1109 and Nasdaq increasing 0.1% to 2244. After the surprise FED increase of the discount rate yesterday, S&P futures traded lower overnight. However, lower-than-expected CPI, strong earnings from JC Penney and a rumored acquisition of Smith International by Schlumberger led to the S&P opening the floor session only modestly lower. The S&P stayed about 1100 for the entire session, rallying into positive territory by lunch and ultimately closing in the upper half of its trading range. Eight out of ten sectors in the S&P were higher with Utilities stocks up 1.5%. JC Penney rose 6.6% and Smith International increased 13%, but Schlumberger fell 3% and Dell plunged 6.7%. At 8:30 on Monday, the January Chicago FED National Activity Index will be released after a reading of -0.6 previous. The February Dallas FED Index follows at 10:30, following a reading of 8.3 in January. At 11am, San Francisco FED President Yellen will speak on the economy in California. Later in the week, Consumer Confidence, New Home Sales, Durable Goods and GDP will be released. Also next week, FED Chairman Bernanke will deliver his semi-annual Monetary Policy Report before the House Financial Services Committee and the Senate Banking Committee.
• Equities ClosePosted:18/02/2010 21:01 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 0.8% to 10393, the S&P rising 0.7% to 1107 and Nasdaq increasing 0.7% to 2242. S&P futures were lower before the bell after Wal-Mart reported disappointing earnings, Producer Prices were higher-than-expected, and Initial Claims were greater-than-forecast. However, the S&P reversed course in early trade and was boosted by a better-than-expected Philly FED number. The S&P would add to gains throughout the day as commodities rallied, and the index closed near highs. All ten sectors in the S&P were higher with Materials and Industrials stocks both up 1.1%. However, Wal-Mart closed down 1.1%. At 8am, New York FED President Dudley discusses the economy in a speech in Puerto Rico. At 8:30am, January Headline CPI is expected to rise 0.4% after a 0.1% increase previous and Core CPI is forecast to rise 0.2% after a 0.1% increase previous.
• Equities ClosePosted:17/02/2010 21:04 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 0.4% at 10309, the S&P rising 0.4% at 1100 and Nasdaq gaining 0.6% to 2226. Before the opening bell, the S&P was boosted by an earnings beat from Deere, higher-than-expected Housing Starts, and a strong Industrial Production report. The S&P caught a bid as the NYSE opened, but could not break through resistance at 1100. The index erased its gains into lunch, but support at yesterday
• Equities ClosePosted:16/02/2010 21:00 GMT by NeedToKnowNews
  Equities finished significantly higher with the Dow up 1.7% to 10289, the S&P surging 1.8% to 1095 and Nasdaq rising 1.4% to 2214. Before the opening bell, the S&P was boosted by strong earnings from Merck and a better-than-expected Empire FED report. The index continued to rally in early trade, as metals and energy prices rocketed higher. The S&P would extend its gains throughout the floor session and ultimately closed near highs. All ten sectors in the S&P500 were higher with Energy shares up 2.9% and Materials stocks gaining 2.6%. Financials rose 2.4%, with Bank of America increasing 4.9% and Citigroup adding 4.1%. At 8:30am, January Housing Starts are expected at 575k after 557k prior and Building Permits are forecast at 625k after 653k previous. Also at 8:30, January Import/Export Prices are released with projects for a 0.9% rise in Imports, a 1% increase in Petroleum, a 0.5% rise in Imports ex-Petroleum, a 0.2% increase in Exports and a 0.5% rise in Exports ex-Agriculture. At 8:55am, Johnson Redbook Retail Sales for the week will be released. At 9:15am, January Industrial Productions is expected to rise 1% after a 0.6% increase previous and Capacity Usage is forecast at 72.5% from 72%. At 12:45pm, Philly FED President Plosser discusses the financial crisis in Pennsylvania. At 2pm, the January Treasury Deficit is predicted at $48bln after $91.9bln in December and $63.5bln a year ago. Also at 2pm, the FOMC will release minutes from its January 27 meeting.
• Equities ClosePosted:12/02/2010 21:00 GMT by NeedToKnowNews
  Equities finished the day mixed with the Dow up 0.4% to 10099, the S&P falling 0.3% to 1076 and Nasdaq rising 0.3% to 2184. Equities sold off overnight after China raised reserve requirements on its banks. S&P futures pared its losses after Retail Sales came in stronger-than-expected, but then plummeted into the NYSE open. Plunging metals and energy prices sent the S&P down to lows in early trade (1063). The S&P would ultimately erase most of its losses later in the session as commodity prices pared their early declines. For the week, the S&P rose 0.9%. Eight of the ten sectors in the S&P were lower with Utilities stocks down 0.8% and Telecom shares falling 0.5%. At 8:30am, the February Empire FED Manufacturing index is expected at 18 from 15.9 in January. At 9am, December Net Long Term TIC Flows are forecast at $40bln from $126.8bln previous and Total Net TIC Flows are projected at $55bln from $26.6bln prior. At noon, KC Fed President Hoenig speaks on government debt in Washington. At 12:30, Atlanta FED President Lockhart discusses education in Georgia. T 12:45PM, Minneapolis FED President Kocherlakota speaks on the economy in Minnesota. At 1pm, the February NAHB Housing Index is expected at 14 from 15 in January.
• Equities ClosePosted:11/02/2010 20:58 GMT by NeedToKnowNews
  Equities finished higher with the Dow up 1.1% to 10144, the S&P rising 1% to 1078 and Nasdaq increasing 1.4% to 2177. S&P futures were mixed in overnight trade after the EU promised to support Greece but provided no concrete details on its plans. A lower-than-expected Initial Claims number briefly boosted the S&P future, but traders soon realized the data reflected a backlogs adjustment, not an improvement in the jobs picture. The S&P sold off in the opening minutes of floor trade but quickly bottomed out at 1061, and shot higher as commodity prices rallied. The S&P extended its gains throughout the morning and ultimately closed the session near highs. All ten sectors in the S&P were higher with Energy stocks up 2% and Materials shares rising 1.4%. Caterpillar was one of the biggest gainers on the day, surging 5.6%. At 8:30am, January Retail Sales are expected to rise 0.1% after a 0.3% decline previous. Ex-autos, Retail Sales are forecast to increase 0.4% after a 0.2% fall prior. At 9:55am, Preliminary February University of Michigan Consumer Confidence is projected at 75 from 74.4 in January. At 10am, December Business Inventories are expected to be flat after a 0.4% rise previous. At 10:30am, EIA Petroleum Inventories are released with forecasts for a 1.3mln build in Crude, a 500k build in Unleaded, a 1.75mln draw in Distillates and a 0.3% rise in Refinery Usage. At 11am, Natural Gas Storage Change are expected to show a 175bcf draw.
• Equities ClosePosted:09/02/2010 21:14 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 1.5% to 10059, the S&P rising 1.3% to 1071 and Nasdaq adding 1.2% to 2151. Strong earnings from Coca-Cola and NYSE Euronext sent the S&P higher off the NYSE open. Sellers pushed the S&P back towards yesterday
• Equities ClosePosted:08/02/2010 21:01 GMT by NeedToKnowNews
  Equities finished the day lower with the Dow down 1% to 9908, the S&P declining 0.9% to 1057 and Nasdaq dropping 0.7% to 2126. The Dow closed below 10,000 for the first time in three months. Increasing worries about European debt sent S&P futures modestly lower overnight, but strong earnings from CVS helped to push the S&P into positive territory. The S&P was volatile in early floor trade and hit session highs (1071) ahead of lunch. However, falling Financials dragged the S&P into the red in the afternoon and the index ultimately closed the day at lows. Six out ten sectors in the S&P were lower with Financials down 1.3%. Wells Fargo tumbled 3.6% and Bank of America declined 3.5%. At 8:55am, Johnson Redbook Retail Sales will be released. At 10am, December Wholesale Inventories are expected to rise 0.3% after a 1.5% increase previous. Also at 10am, the February IBD/TIPP Economic Optimism survey is released after a reading of 48.8 in January.
• Equities ClosePosted:04/02/2010 21:01 GMT by NeedToKnowNews
  Equities finished significantly lower with the Dow down 2.6% to 10002, the S&P declining 3.1% to 1063 and Nasdaq dropping 3% to 2125. An undersubscribed Portuguese debt auction and more deficit concerns in Greece helped pushed the S&P lower overnight. The losses were extended an hour before the NYMEX open when both Initial Claims and NonFarm Productivity came in worst-than-expected. The S&P really fell out of bed in early floor trade as commodity futures plummeted. The S&P would continue to decline throughout the day and ultimately closed at its lowest level in almost four months. Also, the VIX rose almost 20% and closed above its 200-day moving average. All ten sectors in the S&P were lower with Energy shares down 4.7% and Materials stocks plunging 4.3%. Financials declined 4% as Mastercard plummeted 10.4%. At 8:30, January NonFarm Payrolls are expected to rise 5k after an 85k decline previous and the Unemployment Rate is forecast to be unchanged at 10%. Manufacturing Payrolls are predicted to decline 25k and Government Payrolls are expected to drop 10k. Average Weekly Hours forecast at 33.2 and Average Hourly Earnings are predicated to increase 0.2% to $18.84. Also, the G-7 meeting of Finance Ministers begins tomorrow in Canada.
• Equities ClosePosted:25/01/2010 21:05 GMT by NeedToKnowNews
  Equities finished the day modestly higher with 0.2% to 10197, the S&P rising 0.5% to 1097 and Nasdaq gaining 0.3% to 2211. Over the weekend, numerous senators came out in support of Ben Bernanke, and his reconfirmation seemed on track again. That combined with strong earnings from AK Steel sent the S&P higher on the open. However, it pared its gains half an hour into the day after Existing Home Sales plunged 16.7%, much worse-than expected. Support at Friday
• Equities ClosePosted:20/01/2010 21:16 GMT by NeedToKnowNews
  Equities finished the day lower with the Dow down 1.1% to 10603, the S&P dropping 1.1% to 1138 and Nasdaq declining 1.3% to 2291. S&P futures traded lower overnight after reports from China revealed some banks were asked to curtail lending. The losses were extended after a slew of earnings from financial institutions. Morgan Stanley and Bank of America missed earnings estimates, while Wells Fargo, USB and State Street reported results that beat analyst expectations. However, the bank earnings were full of adjustments and writedowns, and Financials were volatile for most of the day. S&P Cash opened the floor session significantly lower and plummeted in early trade as commodity prices plunged. The S&P ultimately formed a double bottom near 1130, and pared its gains into the close, but still finished in the bottom half of its trading range. All ten sectors in the S&P were lower with Materials stocks down 1.6% and Industrials declining 1.4%. Financials fell 0.3% with Morgan Stanley dropping 1.7%, Wells Fargo declining 1.6% but Bank of America gaining 1%. At 8:30am, Initial Jobless Claims are expected at 445k from 444k and Continuing Claims are forecast at 4.61mln from 4.596mln. At 10am, December LEI is released with predictions for a 0.5% rise in the Leading Index, a 0.2% increase in the Coincident index and a 0.3% fall in the Lagging Index. Also at 10am, the December Philly FED Index is expected at 19 from 22.5 prior. At 10:30am, Natural Gas Storage change is forecast to show a draw of 220bcf. At 11am, EIA Petroleum Inventories are released with projections for a 2.1mln build in Crude, a 1.8mln build in Unleaded, a 300k draw in Distillates and a 0.4% decline in Refinery Usage.
• Equities ClosePosted:19/01/2010 21:02 GMT by NeedToKnowNews
  Equities opened the week higher with the Dow up 1.1% to 10725, the S&P adding 1.3% to 1150 and Nasdaq rising 1.4% to 2320. Equity markets were largely unchanged in electronic trade despite a flurry of M&A news. Cadbury agreed to Kraft
• Equities ClosePosted:14/01/2010 20:59 GMT by NeedToKnowNews
  Equities finished the day modestly higher with the Dow up 0.3% to 10711, the S&P rising 0.2% to 1148 and Nasdaq adding 0.4% to 2317. S&P futures traded higher overnight, but sunk into the red after disappointing Retail Sales figures. However, the low of the day (1144) hit early in the session. S&P Cash rallied into positive territory aided by better-than-expected Business Inventories data. The S&P ultimately closed near highs but spent the day in a 6-point range as investors likely stayed on the sidelines ahead of Intel earnings. Seven out of ten sectors in the S&P were higher with Health Care stocks up 0.7%. Financials rose 0.4%, as Wells Fargo gained 1.2% and JP Morgan added 1%. Goldman and Morgan Stanley, however, finished lower after downgrades from Barclays. t 8:30am, December Headline CPI is expected to rise 0.3% after a 0.4% increase previous and Core CPI is forecast to rise 0.1% after an unchanged reading in November. Also at 8:30am, the January Empire FED Manufacturing Index is predicted at 11 from 2.55. At 9:15am, December Industrial Production is expected up 0.5% after a 0.8% rise prior and Capacity Utilization is forecast at 71.9% from 71.3%. At 9:55am, Preliminary January University of Michigan Consumer Confidence is predicted at 74 from 72.5 in January. At 12:30pm, Richmond FED President Lacker speaks on the economy in Virginia.
• Equities ClosePosted:13/01/2010 21:03 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 0.5% to 10681, the S&P rising 0.8% to 1146 and Nasdaq jumping 1.1% to 2308. The S&P opened the day higher, but fell into the red as commodity futures sold off in early floor trade. The low in the S&P (1133) an hour into the session, and the S&P quickly rallied back into positive territory led by Financials and Health Care stocks. The S&P extended its gains after the Beige Book showed continuing signs of recovery and the index ultimately closed near highs, All ten sectors in the S&P500 were positive. Financials rose 1.4% with JP Morgan and bank of America posting gains of over 1.7%. Health Care names added 1.2%, as Merck surged 3.7% after a Credit Suisse upgrade. At 7:45am, the ECB is expected to keep its benchmark rate unchanged at 1%. At 8:30am, December Retail Sales are expected to rise 0.7% after a 1.3% increase previous. Ex-autos, Retail Sales are forecast to rise 0.4% after a 0.2% increase previous. Also at 8:30am, Initial Claims are predicted at 442k from 434k and Continuing Claims are expected at 4.77mln from 4.802mln. Import-Export Prices are also released at 8:30, with forecasts for a a 0.2% rise in Import Prices, a 1.5% decline in Petroleum Prices, a 0.4% increase in Import Prices ex-Petrol, a 0.4% rise in Export Prices and a 0.5% increase in Exports ex-Agriculture. At 10am, November Business Inventories are predicted to rise 0.5% after a 0.2% increase previous. At 10:30am, Natural Gas Storage is expected to show a draw of 250bcf.
• Equities ClosePosted:12/01/2010 21:05 GMT by NeedToKnowNews
  Equities finished the day lower with the Dow down 0.4% to 10627, the S&P dropping 0.9% to 1136 and Nasdaq declining 1.3% to 2282. Poor earnings from Alcoa and KB Home sent the S&P lower in electronic trade, and it sold off further after the Trade Deficit was larger than expected. Falling commodities prices pushed stocks lower, and Energy and Materials stocks were among the S&P laggards. The S&P bounced off lows of 1132 in the afternoon but still finished in the bottom half of its trading range. Nine out of ten sectors in the S&P were lower with Telecom stocks down 2.6% and Energy shares declining 2.1%. Alcoa plunged 11% and KB Home tumbled 4%. At 9am, the Financial Crisis Inquiry Commission will hold a hearing on the financial crisis. Goldman
• Equities ClosePosted:07/01/2010 20:59 GMT by NeedToKnowNews
  Equities finished the day mixed with the Dow up 0.3% to 10607, the S&P gaining 0.4% to 1142 and Nasdaq down 0.1% to 2300. The Chinese Central Bank raised a key interest rate overnight and, pushing S&P futures lower. The S&P was briefly boosted by lower-than-forecast Continuing Claims but the cash index proceeded to sell off in early floor trade. However the intraday low (1131) was hit early in the session, and the S&P soon erased its losses. Credit Suisse upgraded Bank of America and JP Morgan raised GE, and the S&P ultimately closed near highs. Four out of ten sectors in the S&P were higher with Financials up 1.9% and Consumer Discretionaries adding 1.1%. GE surged 5.2%, and both Wells Fargo and JP Morgan rose over 3%. At 8:30am, December NonFarm Payrolls are expected to fall 10k after an 11k decline prior and the Unemployment Rate is forecast to rise to 10.1% from 10%. Manufacturing Payrolls are predicted to drop 40k, Average Weekly Hours are expected at 33.2 and Average Hourly Earnings are forecast to increase 0.2% to $18.78. At 10am, November Wholesale Inventories are predicted to decrease 0.5% after a 0.3% rise previous. At 10:15am, Boston FED President Rosengren speaks on the economy in Connecticut. At 1:35pm, Richmond FED President Lacker discusses the economy in Maryland. At 3pm, November Consumer Credit is expected to fall $7bln after a $3.5bln decline in October.
• Equities ClosePosted:06/01/2010 21:02 GMT by NeedToKnowNews
  Equities finished the day mixed with the Dow relatively unchanged at 10574, the S&P up 0.1% to 1137 and Nasdaq falling 0.3% to 2301. The S&P opened the day marginally lower after Monsanto reported lower-than-forecast Q1 earnings and ADP Employment came in slightly worse-than-expected. The S&P hit its low of the day (1134) in early trade and stayed in a 5-point range the entire session. The index hit its high (1139) as the markets digested the FOMC minutes, but ultimately pared its gains in to the close. Eight out of ten sectors in the S&P were higher with Energy shares up 1.6% and Materials stocks rising 1.4%. Tech stocks fell 2% and Google declined 2.5%. At 7am, the BOE is expected to keep its key rate unchanged at 0.5%. At 8:30am, Initial Jobless Claims are forecast at 445k from 432k and Continuing Claims are predicted at 4.99mln from 4.981mln. At 10:30am, Natural Gas Storage Changes is expected to show a draw of 133bcf. At 1pm, Kansas City FED President Hoenig will speak on the economy in Missouri.
• Equities ClosePosted:05/01/2010 21:02 GMT by NeedToKnowNews
  Equities finished the day mixed with the Dow down 0.1% to 10572, the S&P up 0.3% to 1137 and Nasdaq unchanged at 2309. The S&P500 opened the day flat and drifted lower in early trade. The S&P fell further after Pending Home Sales plunged 16%, much worse-than-expected. However, buyers quickly re-entered the market, possibly assured by the strong Factory Orders data. In the afternoon, December Auto Sales results were mixed, but the S&P rallied into the close to finish at highs. Seven out of ten sectors in the S&P were higher with the 1.5% rise in Energy stocks outweighing the 1% decline in Utilities. Financials rose 1.1%, as Morgan Stanley, Citigroup, and Bank of America all gained over 3%. Ford surged 6.9% after it reported better-than-forecast December auto sales. At 7:30am tomorrow, December Challenger Layoffs are released after declining 72% in November. At 8:15am, December ADP Employment is expected to fall 89k after a 169k decline previous. At 10am, the December ISM-NonManufacturing Index is forecast to rise to 51 from 48.7. At 10:30am, EIA Petroleum Inventories are released with predictions for a 1.8mln draw in Crude, a 1.5mln build in Unleaded, a 1.7mln draw in Distillates and a 0.2% increase in Refinery Usage. At 2pm, the FED will release minutes from the December 15-16 FOMC meeting.
• Equities ClosePosted:04/01/2010 21:02 GMT by NeedToKnowNews
  Equities opened the year significantly higher with the Dow up 1.5% to 10584, the S&P raining 1.6% to 1133 and Nasdaq surging 1.7% to 2308. S&P futures traded higher overnight as comments from FED Chairman Bernanke and FED Vice Chairman Kohn hinted that the FOMC would continue its accommodative monetary policy stance. S&P Cash shot higher as floor trading opened, with higher commodity prices boosting Materials and Energy stocks. The index added to gains at 10am, as December ISM came in better than expected. Most of the action in equities occurred during the first hour of floor trade, and S&P remained in a 3-point range between 1131 and 1134 the rest of the day. All ten sectors in the S&P were higher with Energy stocks up 4.2% and Materials shares jumping 2.8%. Tesoro surged 9.4% and Chesapeake Energy rallied 8.6%. At 8am, Kansas City FED President Hoenig speaks on government bailouts in Georgia. At 8:55am, Johnson Redbook Retail Sales for the week will be released. At 10am, November Factory Orders are expected to rise 0.7% after a 0.6% increase previous. Ex-transports, Orders are forecast to rise 0.6% after a 0.5% increase previous. Also at 10am, the November Pending Home Sales Index is predicted to fall 1.7% to 112.2.
• Equities ClosePosted:31/12/2009 21:02 GMT by NeedToKnowNews
  Equities finished the day lower with the Dow down 1.1% to 10428, the S&P dropping 1% to 1115 and Nasdaq falling 1% to 2269. S&P futures were modestly higher before the open and added to gains after Initial Claims were lower than expected. However, the S&P gave back its gains in early floor trade and soon settled into a tight range between 1122 and 1123. This held until a furious sell off in the last half-hour of the day, when profit-taking sent the S&P plunging to lows on the close. For the year, the S&P gained 23.5%, the Dow rose 18.8%, and Nasdaq surged 43.9%. All ten sectors in the S&P were negative today with Utilities stocks down 1.7% and Materials shares dropping 1.3%. Markets are closed tomorrow for New Years Day. On Monday at 10am, December ISM is expected at 53 from 53.6. Also at 10am, November Construction Spending is forecast to fall 0.6% after an unchanged reading in October. At 10:15am, Atlanta FED President Lockhart moderates a discussion on the financial crisis in Georgia. At 1:15pm, FED Governor Duke discusses the economy in North Carolina. Later in the week, Pending Home Sales, the FOMC Minutes, and NonFarm Payrolls will be released.
• Equities ClosePosted:30/12/2009 21:07 GMT by NeedToKnowNews
  Equities finished the day flat to higher with the Dow unchanged at 10549, the S&P also unchanged at 1126 and Nasdaq adding 0.1% to 2291. S&P futures were lower in electronic trade, with news of additional $3.5bln in aid to GMAC outweighing Kaufman Brothers upgrades of both NVIDIA and Marvell. S&P cash continued to fall in early floor trade, but a strong Chicago PMI number sent the S&P back to yesterday
• Equities ClosePosted:29/12/2009 21:02 GMT by NeedToKnowNews
  Equities finished the day flat to lower with the Dow relatively unchanged at 10545, the S&P declining 0.1% at 1126 and Nasdaq dipping 0.1% to 2288. Kaufman Brothers and Piper Jaffray raised Amazon before the bell, helping to send the S&P higher. There was muted reaction to the October CaseShiller data, and the S&P opened the floor session moderately higher. After the opening bell, Consumer Confidence data was mixed (the Expectations Index rose, but the Present Situation Index fell), and the S&P would fall into the red. Volume was light throughout the day and the S&P was stuck in a 4-point range between 1126 and 1130. Eight of the ten sectors in the S&P were lower with Energy stocks down 0.9% and Telecom shares falling 0.6%. Chesapeake Energy was one of the biggest decliners, losing 3%. At 9:45am, December Chicago PMI is expected at 54.5 after a reading of 56.1 in November. At 10:30am, EIA Petroleum Inventories for the week will be released with forecasts for a 1.8mln draw in Crude, a 1.5mln build in Unleaded, a 1.7mln draw in Distillates and a 0.2% rise in Refinery Usage.
• Equities ClosePosted:24/12/2009 18:03 GMT by NeedToKnowNews
  Equities finished higher with the Dow up 0.5% to 10520, the S&P also rising 0.5% to 1126, and Nasdaq gaining 0.7% to 2286. The S&P was boosted before the open by lower-than-expected Initial Claims and higher-than-forecast Durable Goods ex-transport data. The S&P added to gains in the floor session, as rising commodity prices drove up Materials stocks. Volume was light and the S&P traded in only a 5 point range, but ultimately closed the day at highs. For the week, the S&P gained 2.2%. Nine out of ten sectors in the S&P were higher with Materials and Tech stocks both up 0.9%. Alcoa was one of the largest gainers, rising 2.1% on the session. Markets are closed tomorrow for Christmas. On Monday at 10:30am, the December Dallas FED Manufacturing Index will be released after a reading of 0.3 in November. Later in the week, the Case/Shiller Home Price Index, Consumer Confidence, and Chicago PMI will be released.
• Equities ClosePosted:23/12/2009 21:07 GMT by NeedToKnowNews
  Equities finished mixed to higher with the Dow unchanged at 10466, the S&P up 0.2% at 1121 and Nasdaq gaining 0.8% at 2270. S&P futures followed its European counterparts higher in electronic trade, and were further boosted after American Greetings reported better-than-expected earnings. There was muted reaction to lower-than-forecast Personal Income and Spending data and S&P Cash caught a bid on the open. It rallied up to 1122, briefly breaching the 50% retracement of the Oct-07 high to the Mar-09 low, but was unable to extend its gains. A poor New Home Sales number sent the S&P into the red, but the S&P ultimately worked its way back into positive territory on a day with light volume. Nine out of ten sectors in the S&P were higher with Materials stocks gaining 1.3% and Energy shares rising 1.2%. At 7am, the Senate is expected pass its Health Care Bill, and at 8am, the Senate is expected to confirm Ben Bernanke for a second term as FED Chairman. At 8:30am, November Durable Goods Orders are forecast to rise 0.4% after a 0.6% decline previous. Ex-transports, Durables are predicted to rise 0.7% after a 1.3% fall in October. Also at 8:30am, Initial Jobless Claims are forecast at 475k from 480k and Continuing Claims are expected at 5.15mln form 5.186mln. At 10:30am, Natural Gas storage change will be released with forecasts for a 169k draw. Equity markets close at 1pm tomorrow ahead of Christmas Day.
• Equities ClosePosted:22/12/2009 21:00 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 0.5% to 10465, the S&P gaining 0.4% to 1118 and Nasdaq adding 0.7% to 2253. For the second straight day, M&A activity boosted the S&P as Boeing purchased half of Global Aeronautica and State Street acquired the securities-services business of Intesa SanPaolo. Downwardly revised Q3 GDP data were cancelled out by better-than-expected Existing Home Sales figures, and the S&P ultimately closed at 14-month highs. There was little volatility today as the S&P spent the floor session in a five point range between 1115 and 1120. Nine out of ten sectors in the S&P were higher, with Telecom stocks up 1%. Boeing was one of the biggest gainers on the day, rising 1.6%. At 8:30am, November Personal Income is expected to rise 0.5% after a 0.2% increase prior and Personal Spending is forecast to rise 0.5% after a 0.7% increase previous. Core PCE m-o-m is predicted to be unchanged, Core PCE y-o-y is expected to rise 1.5% and Headline PCE y-o-y is forecast to increase 1.6%. At 9:55am, Final December University of Michigan Consumer Confidence is projected at 72.5 from 73.4 in the Preliminary reading and 67.4 in November. At 10am, November New Home Sales is expected at 435k from 430k. At 10:30am, EIA Petroleum Inventories for the week are released with forecasts for a 1.5mln draw in Crude, a 1.2mln build in Unleaded, a 1.8mln draw in Distillates and a 0.2% rise in Refinery Usage.
• BLS releases November mass layoffs of 165,346 vs 217,182 in OctoberPosted:22/12/2009 19:48 GMT by NeedToKnowNews
• Equities ClosePosted:21/12/2009 21:05 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 0.8% to 10414, the S&P adding 1.1% to 1114 and Nasdaq gaining 1.2% to 2238. Numerous analyst upgrades, mergers, and the clearing of a key procedural vote on Health Care legislation boosted equities before the open. Sanofi announced it would purchase Chattem, and Bucyrus said it would buy the mining unit of Terex. Also, Credit Suisse raised Cardinal Health and Aetna, Morgan Stanley upgraded Alcoa, while Barclays raised Intel. The floor trading session itself had very little news, and the S&P was stuck in a six point range between 1112 and 1118. All ten of the sectors in the S&P were higher with Materials stocks up 1.8% and Health Care names adding 1.4%. Alcoa surged 7.9%, Intel rose 2.9%, and Aetna jumped 4.7%. At 8:30am, Final Q3 GDP is expected to rise 2.6% after a 2.8% increase in the Preliminary Reading and a 0.7% decline in Q2. At 8:55am, Johnson Redbook Retail Sales for the week will be released. At 10am, November Existing Home Sales is forecast at 6.27mln from 6.1mln. Also at 10am, the December Richmond FED Index is predicted to rise to 4 from 1. The October FHFHA House Price Index, to be released at 10am as well, is expected to increase 0.2%.
• Equities ClosePosted:18/12/2009 21:01 GMT by NeedToKnowNews
  The S&P finished the day higher with the Dow up 0.2% to 10332, the S&P rising 0.6% to 1103, and Nasdaq jumping 1.5% to 2212. Strong earnings from Research in Motion and Oracle after the close Thursday sent equities higher over night and the S&P opened the day above 1100. News of the Iranian army occupying an Iraqi oil field led to uncertainty in the markets, and the S&P erased all its gains by lunch. However, buyers re-entered the market in the afternoon, and the index ultimately closed near highs. For the week, the S&P fell 0.4%. Eight out of ten sectors in the S&P were higher with Tech stocks gaining 1.3% and Financials adding 1.1%. RIMM closed up 10.3% and Oracle surged 6.4%. On Monday, the November Chicago FED Index will be released after a reading of -1.1 in October. Later in the week, Final Q3 GDP, Existing Home Sales, Personal Income and Durable Goods will be released. There are no FED speakers scheduled to speak next week.
• Equities ClosePosted:17/12/2009 20:57 GMT by NeedToKnowNews
  Equities finished significantly lower with the Dow down 1.3% to 10308, the S&P falling 1.2% to 1096 and Nasdaq declining 1.2% to 2180. Higher-than-expected Jobless Claims, weak demand for Citigroup
• Equities ClosePosted:16/12/2009 21:03 GMT by NeedToKnowNews
  Equities finished the day mixed with the Dow down 0.1% to 10441, the S&P up 0.1% to 1109 and Nasdaq adding 0.3% to 2207. Better-than-expected Housing Starts data and lower-than-forecast CPI boosted the S&P in electronic trade. It continued to tick higher throughout the morning, as rising commodity prices boosted Materials and Energy stocks. The S&P ultimately peaked at 1116, and trade was light into the FOMC rate decision. The FED left rates unchanged as expected, but the S&P ultimately erased its gains into the close. Six out of ten sectors in the S&P were positive with Energy stocks gaining 1.2% and Materials shares adding 1%. Citigroup fell for the third day in a row, losing 3% on the session. At 8:30am, Initial Jobless Claims are expected at 469k from 474k and Continuing Claims are forecast at 5.1mln from 5.157mln.At 9:30am, the Senate Banking Committee is expected to confirm FED Chairman Bernanke for a second term. The vote before the full Senate is expected in January. At 10am, November LEI will be released with projections for a 0.6% rise in the Leading Index, no change in the Coincident Index and a 0.1% fall in the Lagging Index. Also at 10am, the December Philly FED Index is expected at 15.5 from 16.7. At 10:30am, Natural Gas Storage Change for the week will be released with forecasts for a 180bcf draw. At 1pm, Dallas FED President Fisher speaks on the economy in Arkansas.
• Equities ClosePosted:15/12/2009 21:07 GMT by NeedToKnowNews
  Equities finished the day later with the Dow down 0.5% to 10452, the S&P dropping 0.6% to 1108, and Nasdaq falling 0.5% to 2201. S&P futures sold off before the bell after higher-than-expected Wholesale Inflation and lower-than-forecast Empire FED data weighed on markets. Buyers flowed in to the S&P as floor trade began, but resistance at yesterday
• Equities ClosePosted:11/12/2009 20:56 GMT by NeedToKnowNews
  Equities finished the day flat to higher with the Dow up 0.6% to 10472, the S&P gaining 0.4% to 1106 and the Nasdaq unchanged at 2190. Before the open, the S&P was boosted by strong Chinese Industrial Production data and better-than-expected US Retail Sales figures. Although, the S&P gave back some gains in early trade, a higher-than-expected University of Michigan Confidence number sent the S&P to fresh highs (1109). Sellers pushed the S&P back to yesterday
• Equities ClosePosted:09/12/2009 21:05 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 0.5% to 10337, the S&P gaining 0.4% to 1096 and Nasdaq adding 0.5% to 2184. S&P futures were trading higher overnight but erased its gains after S&P put the sovereign debt rating of Spain on
• Equities ClosePosted:08/12/2009 20:55 GMT by NeedToKnowNews
  Equities finished the day lower with the Dow down 1% to 10286, the S&P dropping 1% to 1092 and Nasdaq dipping 0.8% to 2173. The S&P traded lower overnight as Fitch downgraded the sovereign debt rating of Greece, while Moody
• Equities ClosePosted:07/12/2009 21:06 GMT by NeedToKnowNews
  Equities finished flat to lower with the Dow unchanged at 10390, the S&P down 0.3% to 1103 and Nasdaq declining 0.2% to 2190. The S&P was modestly higher for in morning trade, but caught a bid after FED Chairman Bernanke reiterated the FOMC
• Equities ClosePosted:04/12/2009 21:03 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 0.2% to 10388, the S&P adding 0.5% to 1106 and Nasdaq gaining 1% to 2194. The S&P opened the day significantly higher after strong Unemployment data and continued to rally in early trade. However, it topped out at 1119, and better-than-expected Factory Orders could not halt the decline. Plunging commodities futures helped propel the S&P lower, and it erased all of its early gains. Ultimately, a double bottom was formed at 1097, and the S&P rallied back into positive territory on the close. For the week, the S&P gained 1.3%. Seven out of ten sectors in the S&P were positive with Financials and Industrials up 2%. Bank of America gained 3.3% and Morgan Stanley added 2.5%. At noon on Monday, FED Chairman Bernanke speaks to the Economic Club of Washington. At 3pm, Consumer Credit is expected to fall $8bln after a $14.8bln decline in September. Later in the week, October Trade Balance, November Retail Sales, and Preliminary December University of Michigan Consumer Confidence will be released.
• Equities ClosePosted:03/12/2009 20:59 GMT by NeedToKnowNews
  Equities finished the day lower with the Dow down 0.8% to 10366, the S&P dropping 0.8% to 1100 and Nasdaq falling 0.5% to 2173. The S&P rallied in early trade as lower-than-expected Initial Claims data and Bank of America
• Fixed Income ClosePosted:03/12/2009 20:15 GMT by NeedToKnowNews
  A global stock market rally fizzled stateside as US indices stalled out and reversed early gains after the ISM services index came in beneath more optimistic forecasts. This helped cap Treasury yields, though informed sources suggested that positioning remained defensively biased. Fed Chairman Bernanke was also on the defense, but acquitted himself with dignity before the Senate Banking Committee, without any specific commitments to unwinding accommodation or ending MBS/agency purchases prematurely. The Treasury confirmed another round of $74 bln in supply next week, which likely played into the hands of bond bears as well.
• Equities ClosePosted:02/12/2009 21:06 GMT by NeedToKnowNews
  Equities finished the day mixed with the Dow down 0.2% to 10453, the S&P flat at 1109 and Nasdaq up 0.4% to 2185. S&P futures were modestly higher overnight but a slightly worse-than-expected ADP Employment report cause the cash index to open the floor session flat. It would rally up to 1116 in early trade, but sold off along with the energy complex and Energy shares after strong builds in Crude and Gasoline inventories. There was muted reaction to the FED
• Fixed Income ClosePosted:02/12/2009 20:27 GMT by NeedToKnowNews
  A few twists and turns in the yield curve kept dealers on their toes Wednesday, with the curve first steepening then flattening back with a midday cash bond rally, only to reverse again into the close. Data consisted of a slightly weaker than expected ADP employment index reading, along with a modest gain in MBA mortgage applications, while the Fed's Beige Book survey was relatively upbeat in a very qualified fashion. Stocks lost traction after opening gains, while yields loosely followed suit after rising early. Short-covering on option structures tied to 30-year swaps and USD-JPY reportedly added to the volatility at the long-end, along with curve unwinds.
• Equities ClosePosted:20/11/2009 20:57 GMT by NeedToKnowNews
  Equities finished lower with the Dow down 0.1% to 10318, the S&P falling 0.3% to 1091 and Nasdaq declining 0.5% to 2146. Disappointing earnings from Dell and rumors of default in the sovereign debt of Ukraine sent S&P futures plunging in electronic trade. However, the losses were erased by the opening bell, and S&P Cash opened the session near yesterday
• Equities ClosePosted:19/11/2009 21:04 GMT by NeedToKnowNews
  Equities finished lower with the Dow down 0.9% to 10332, the S&P declining 1.3% and Nasdaq dropping 1.7%. The S&P500 opened the floor session in negative territory after Bank of America downgraded the semiconductor sector. The S&P quickly plunged to lows as both the price of Crude and Energy shares fell sharply in early trade. The S&P ultimately bottomed out at 1088, and the S&P pared its losses into the close as traders likely trimmed their shorts. All ten sectors in the S&P were lower with Energy stocks down 2.9%, Financials dropping 2.2% and Tech shares falling 2%. Sandisk tumbled 4.9% and Intel declined 4.2%. There are no economic releases or FED speakers tomorrow.
• Equities ClosePosted:16/11/2009 20:59 GMT by NeedToKnowNews
  Equities finished higher with the Dow up 1.3% to 10407, the S&P gaining 1.5% to 1109 and Nasdaq adding 1.4% to 2198. Overnight, strong Japanese GDP data lifted the prices of both metals and energy complex. The rising commodity prices sent Metals and Energy stocks rallying in electronic trade, and the S&P opened the session significantly higher. The index added to gains throughout the morning, before dipping briefly after FED Chairman Bernanke raised doubts about the economic recovery and employment outlook. However, the S&P ultimately made new highs (1114) before paring its losses at the close. All ten sectors in the S&P were higher with both Materials and Energy stocks both gaining 2.6%. Financials added 1.3% as Morgan Stanley and Citigroup gained over 3%. At 8:30am, October Headline PPI is expected to rise 0.4% after a 0.6% drop prior and Core PPI is forecast to be unchanged after a 0.1% dip previous. At 8:55am, Johnson Redbook Retail Sales will be released. At 9am, September Net Long-term TIC Flows are predicted at $40bln from $28.6bln and Total Net TIC Flows are expected at $50bln from $10.2bln. At 9:15am, October Industrial Production is forecast to rise 0.3% after a 0.7% increase prior and Capacity Utilization is predicted at 70.9% from 70.5%. At 10:15am, Richmond FED President speaks on the economy in Virginia. At 12:30pm, discusses the housing market in Ohio. At 1pm, the November NAHB Housing Market Index is expected to rise to 19 from 18 in October.
• Fixed Income ClosePosted:13/11/2009 20:15 GMT by NeedToKnowNews
  Bonds were firm throughout Friday's trade despite firm equity markets - with the long end of the curve leading gains. The December 30yr was up 17 ticks and the 10yr added 2. The 5yr and 2yr were flat. These gains basically reverse y/day's losses as the 30yr has gained nearly 2.5 handles since its post-auction lows. Next week, the market will look towards Monday's release of October Retail Sales at 8:30am EST and the speech by Fed Chairman Bernanke in the afternoon. That will likely set the stage for what could either be a strong week of gains or a disappointing week of losses.
• Equities ClosePosted:12/11/2009 20:53 GMT by NeedToKnowNews
  Equities finished lower with Dow down 0.9% to 10197, the S&P declining 1% to 1087 and Nasdaq falling 0.8% to 2149. The S&P opened the day flat and spent most of the morning hovering around yesterday
• Fixed Income ClosePosted:12/11/2009 20:00 GMT by NeedToKnowNews
  Bonds were in negative territory all session, with the 30yr bond futures moving holding around 20 ticks lower ahead of today's 30yr auction. Following the dismal results, which saw a 2.26 b-t-c, the Dec-30yr dropped a handle plus, making lows around 117-10. The Futures then caught a bid, erasing those gains and some as it closed trading down only 14 ticks. The shorter parts of the curve were relatively flat, with the 10yr future falling 3 ticks while the 5yr was down 2. The 2yr was flat. Today's auction concludes the Treasury's refunding - so the rest of the week will likely build off of today's themes. The lackluster support for the 30yr auction could undermine further gains, while giving support to some of the shorter-date maturities.
• Equities ClosePosted:11/11/2009 21:02 GMT by NeedToKnowNews
  Equities finished higher with the Dow up 0.4% to 10291, the S&P rising 0.5% to 1099 and Nasdaq adding 0.7% to 2167. Trading was slow today as both fixed income and currency markets were closed in observance of Veterans Day. The S&P opened modestly higher and rallied in the first 30 minutes of trade. However it peaked at 1105 and spent most of the session in a range between yesterday
• Equities ClosePosted:10/11/2009 20:56 GMT by NeedToKnowNews
  Equities finished mixed with the Dow up 0.2% to 10247, the S&P flat at 1093 and Nasdaq down 0.1% to 2151. Although the S&P opened in negative territory, it caught a bid on the open to reverse its losses. However, it peaked at 1096 and fell back into the red as the price of Crude tumbled. The S&P erased its losses as Crude mounted a recovery, and the index ultimately finished the day relatively unchanged. Seven out of ten sectors in the S&P were negative with Financials down 1.3% and Telecom shares dropping 0.8%. AIG rose 3.8% after Moody
• Fixed Income ClosePosted:10/11/2009 20:35 GMT by NeedToKnowNews
  Yields rebounded at the long-end after some disappointment registered on the pricing of the 10yr note auction, reversing the initial price action that had tracked stocks lower. Several rounds of Fedspeak washed through that made both the hawkish and dovish case, suggesting that the status quo will remain in place while that debate remains balanced. The dollar index resurfaced above 75.0 after posting 15-month lows, while curve strategies played out in the context of the steepening trend and the Fed purchased another round of $1.8bln in agency debt.
• Equities ClosePosted:09/11/2009 20:59 GMT by NeedToKnowNews
  Equities finished significantly higher with the Dow up 2% to 10227, the S&P rising 2.2% to 1093 and Nasdaq gaining 2% to 2154. Statements from the G-20 assured markets that stimulus measures would not be removed soon, and the S&P opened the day firmly in positive territory. It added to gains throughout the day and ultimately closed at highs of the session. All ten sectors in the S&P were higher with Financials up 3.8%. Morgan Stanley, Bank of America and Wells Fargo all rose over 4%. At 8:55am, Johnson Redbook Retail Sales will be released. At 9:15am, Atlanta FED President Lockhart speaks on the economy in Georgia. At 10:05am, San Francisco FED President Yellen discusses the economy in Arizona. At 11:15am, Boston FED President Rosengren delivers a speech in London. At 3:30pm, FED Governor Tarullo discusses resolution authority in New York.
• Fixed Income ClosePosted:09/11/2009 20:16 GMT by NeedToKnowNews
  Treasuries strengthened moderately on Monday in the face of another windfall session for equities and 3-year supply that provided some headwinds, but no strong gusts. The G20 meeting over the weekend didn't openly support the buck and sustained support behind stimulative policies to keep the recovery on track. Along with some large M&A activity that supported stocks and dented the dollar, while the strong auction results allowed the bond complex to largely ride out all this fresh volatility and risk-seeking activity in the absence of any new data. Even the typically dour Fed Senior Loan Officer Survey couldn't rain on the parade.
• Equities ClosePosted:06/11/2009 20:54 GMT by NeedToKnowNews
  Equities finished higher with the Dow up 0.2% to 10023, the S&P gaining 0.3% to 1069 and Nasdaq rising 0.3% to 2112. The higher than expected unemployment rate sent the S&P500 lower on the open, but it quickly caught a bid and rallied into positive territory. The S&P spent most of a slow afternoon near yesterday
• Equities ClosePosted:05/11/2009 21:03 GMT by NeedToKnowNews
  Equities finished significantly higher with the Dow up 2.1% to 10006, the 1.9% to 1067 and Nasdaq rising 2.4% to 2105. Better-than-expected Initial Claims data and M&A news boosted the S&P before the open, and the index rallied in early trade. It continued to make higher highs throughout the day and ultimate closed the session at highs. Meanwhile, the Dow closed above 10,000 for the first time in two weeks. All ten sectors in the S&P were positive with Consumer Discretionaries up 2.6%.Financials added 2% as JP Morgan rose 3.9% and Morgan Stanley gained 3%. At 8:30am, October NonFarm Payrolls are expected to fall 160k after a 263k decline previous and the Unemployment Rate is forecast to increase to 9.9% from 9.8%. Manufacturing Payrolls are predicted to decline 45k, Average Hours are seen at 33.1, and Average Hourly Earnings are expected to rise 0.2% to $18.71. At 9:45am, Chicago FED President Evans will deliver opening remarks at a community bankers conference in Illinois. At 10am, September Wholesale Inventories are forecast to fall 1.2% after a 1.3% decline previous. At 11:30am, FED Governor Duke will speak at the same community bankers conference in Illinois. At 3pm, September Consumer Credit is predicted to drop $13bln after a $12bln decline in August.
• Fixed Income ClosePosted:05/11/2009 20:23 GMT by NeedToKnowNews
  Yields continued their divergent paths Thursday, set in motion by the FOMC sticking to their accommodative stance yesterday. Shorter yields remained under downward pressure on the Fed's renewed "extended period" commitment, while longer-dated yields climbed with stocks after strong Cisco earnings and a firmer round of data just ahead of Friday's payrolls report. That kept curve steepeners in vogue and the 2s-10s spread widened over 10 basis points from pre-FOMC levels. Though a double-edged sword, Q3 productivity surged 9.5%, while jobless claims sank a deeper than expected 20k. The ECB held rates steady, but the BoE expanded its QE program.
• Equities ClosePosted:03/11/2009 21:03 GMT by NeedToKnowNews
  Equities finished mixed with the Dow down 0.2% to 9772, the S&P up 0.2% to 1045 and Nasdaq rising 0.4% to 2057. Despite the announcement of Burlington Northern
• Fixed Income ClosePosted:03/11/2009 20:06 GMT by NeedToKnowNews
  After a sleepy pre-FOMC start the bond market sold off led by the underperforming long end. Factory and vehicle data was pretty healthy and stocks erased deeper overnight declines after a $44bln investment by Berkshire in rail transporter Burlington and the data offset investor concerns over European bank losses. Consensus appears to be that the Fed won't alter its "extended period" language and tomorrow's supply announcement also looms. Gold set a record high above $1080 following IMF sales to India, giving commodity/growth bets a leg up.
• Equities ClosePosted:02/11/2009 21:03 GMT by NeedToKnowNews
  Equities finished the day higher with the Dow up 0.8% to 9789, the S&P rising 0.7% to 1043 and Nasdaq adding 0.2% to 2049. The S&P opened the day modestly higher but caught a bid after Pending Homes Sales and ISM came in better-than-expected. However, it topped out at 1052 and sold off during lunch. The S&P plunged into negative territory but formed a double bottom at 1030, before rallying into the close. Eight out of ten sectors in the S&P were positive with both Health Care stocks and Materials shares up 0.9%. Financials rose 0.5% as JP Morgan gained 1.9%. At 8:55am, Johnson Redbook Retail Sales will be released. At 10am, September Factory Orders are expected to rise 1% after a 0.8% decline previous. Ex-transports, Factory Orders are forecast to rise 1.2% after a 0.4% increase previous. Throughout the day, October Auto Sales will be released.
• Fixed Income ClosePosted:02/11/2009 20:15 GMT by NeedToKnowNews
  Strong data and weak stocks made for a change in the trading parable, with Treasuries left to loiter sideways ahead of Wed's FOMC decision by default. ISM, construction and PHSI all firmed up and initially gave equities a leg up, but they lost their balance and rolled lower. The NY Fed later met in a planned meeting with about 20 key bank execs on executive compensation, but this rattled stock investors hot on the heels of the CIT bankruptcy.
• Equities ClosePosted:30/10/2009 20:54 GMT by NeedToKnowNews
  Equities were significantly lower with the Dow down 2.5% to 9713, the S&P dropping 2.8% to 1036 and Nasdaq declining 2.5% to 2045. The S&P opened the day modestly lower but steadily sold off throughout most of the day. It ultimately bottomed out at 1033 but still closed near lows of the session. For the week, the S&P fell 4%. All ten sectors in the S&P were negative with Energy stocks down 4.4% and Financials dropping 4.1%. Bank of America plunged 7.3% and JP Morgan plummeted 5.8%. At 10am, October ISM is expected at 53 from 52.6. Also at 10am, September Pending Home Sales is forecast to rise 1.2% to 105 from 103.8 pervious. September Construction Spending, to be released at 10am as well, is predicted to fall 0.7% after a 0.8% rise in August. At 3pm, FED Governor Tarullo speaks on compensation in Maryland.
• Fixed Income ClosePosted:30/10/2009 20:14 GMT by NeedToKnowNews
  Stocks squandered their previous day's rally on Friday into month-end. Combined with a dollar index rebound and more profit-taking on bullish commodity bets, this served to jack Treasuries higher and collapse yields back down to Thursday levels. The data had something for both bulls and bears, stocks and bonds, but reversal on Wall St gathered its own downward momentum and nullified the post-GDP rally. Option flows were initially mixed, but turned steadily more bullish for bonds as the session wore on.
• Fixed Income ClosePosted:29/10/2009 20:15 GMT by NeedToKnowNews
  Bond markets have been lower throughout the US session as GDP and Weekly Claims data gave the market an offered tone. The firm equity markets and mediocre results to the 7yr auction also played a role in the sell-off, though by the end of floor trade, the bond market settled where it had been trading for most of the morning session. The December 30yr futures were down 1-03 to 118-23, while the 10yr lost 16+ to 117-23+. The 5yr was down 11 and the 2yr was off 2+. Tomorrow, Personal Income and Consumption will be released and is likely to be the main draw in the US. Month-end flows could dominate, however, despite where the data comes out.
• Equities ClosePosted:28/10/2009 21:22 GMT by NeedToKnowNews
  Equities finished significantly lower with the Dow down 1.2% to 9763, the S&P falling 2% to 1043 and Nasdaq dropping 2.7% to 2060. The S&P opened the session modestly lower and sunk further after New Home Sales came in worse-than-expected. It continued to decline throughout the session and ultimately closed at lows. Nine out of ten sectors in the S&P were negative with Energy shares down 4.5% and Consumer Discretionaries shedding 3.88%. Financials lost 3.6% as Goldman plunged 6.5% and Morgan Stanley fell 5.1%. At 8:30am, Advanced Q3 GDP is expected to rise 3% after a 0.7% drop in Q2. The GDP Price Index is forecast to rise 1.1% and Personal Consumption is predicted to increase 3.3%. Also at 8:30am, Initial Jobless Claims are expected at 535k from 531k and Continuing Claims are forecast at 5.95mln from 5.923mln. At 9:30am, Treasury Secretary Geithner will testify on regulation before the House Financial Services Committee.
• Equities ClosePosted:27/10/2009 21:00 GMT by NeedToKnowNews
  Equities finished mixed with the Dow up 0.1% to 9882, the S&P down 0.3% to 1063 and Nasdaq declining 1.2% to 2116. Before the open, the CaseShiller House Price Index came in better-than-expected and the S&P opened the session higher. However, it is plunged to lows (1061) after weak Consumer Confidence data, before quickly rebounding and spending most of the day near yesterday
• Equities ClosePosted:26/10/2009 21:00 GMT by NeedToKnowNews
  Equities finished lower with the Dow down 1.1% to 9868, the S&P tumbling 1.2% to 1067 and Nasdaq declining 0.6% to 2142. The S&P was flat on the open, but shot higher in the first half hour of trade. However it plateaued just above 1090 and plunged into negative territory by lunch. Afternoon trade was uneventful and the S&P ultimately closed near its low of 1065. All ten sectors in the S&P were negative with Financials down 2.4%. Bank of America plunged 5.1% and Citigroup shed 4.3%. At 8:55am, Johnson Redbook Retail Sales will be released. At 9am, the August CaseSchiller Home Price Index is expected to drop 12% y-o-y after a 13.3% y-o-y decline in July. At 10am, October Consumer Confidence is forecast at 54.5 from 53.1 previous. Also at 10am, the October Richmond FED Index is predicted to be unchanged at 14. At 4pm, Treasury Secretary Geithner speaks with Charlie Rose at the SIFMA Annual Meeting.