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Scots Stay in U.K.; Wall Street Debuts Biggest IPO Ever


      In the face of heavy trading volume, courtesy of quadruple witching day—the simultaneous expiration of stock and index options and futures contracts—the U.S. equity markets closed the session mixed as the Street debuted its largest IPO to date in the form of Chinese e-commerce company Alibaba Group Holding. Additionally, early morning sentiment may have found a boost from across the pond as Scotland voted to continue its union with the U.K. Treasuries were mostly higher as the lone release on the domestic docket revealed Leading Indicators rose less than … [Read more...]

Stocks Hoping for Considerable Time Above Flatline


        The U.S. equity markets remain solidly above the unchanged mark in afternoon action, amid calmed concerns about a sooner-than-expected Fed rate hike after its statement yesterday, which showed its "considerable time" language was maintained. Equities are rising, but non-stock markets continue to grapple with the Fed's increased interest rate projections, highlighted by yesterday's sharp drop in the yen. Elsewhere, a tumble in U.S. jobless claims is being met with a disappointing read on domestic housing construction and Treasuries are flat after yields … [Read more...]

Stocks Ticking Higher as Fed Decision Awaits


      The U.S. equity markets are moving modestly higher in early action, with traders treading cautiously ahead of this afternoon's release of the monetary policy decision by the Federal Reserve. Meanwhile, reports of further stimulus measures from China's central bank is lending some support, while the domestic economic calendar showed consumer price inflation came in cooler than expected and mortgage applications jumped last week. Treasuries are mostly higher following the data and ahead of the Fed's decision, while a read on U.S. homebuilder sentiment is due out after … [Read more...]

Equities Decline as Global Restraint Remains


        The domestic equity markets are moving modestly lower in early action, with global sentiment remaining handcuffed as the Federal Reserve is slated to begin its two-day monetary policy meeting later today, while speculation is lingering that the Central Bank may tweak its statement tomorrow. Moreover, conviction is being tempered as the Scottish independence vote looms on the week's horizon. Treasuries are slightly higher following an inline U.S. producer price inflation report, which is the lone release on today's economic docket. Meanwhile, the equity … [Read more...]

Stocks Flat as Street Awaits Global Decisions


      The domestic equity markets are nearly unchanged in early action, with caution ahead of Wednesday's Fed monetary policy decision and Thursday's Scottish independence vote keeping conviction hamstrung, along with some disappointing economic data out of China. Meanwhile, a jump to nearly a five-year high in New York manufacturing growth and a plethora of global M&A news are failing to stoke sentiment. Heineken rebuffed a takeover offer from SABMiller, while Cognizant Technology Solutions agreed to acquire TriZetto for $2.7 billion in cash and Danaher agreed to … [Read more...]

Stocks Lower Despite Positive Retail Sales Report


The domestic equity markets have dipped below the unchanged mark in early action, despite a report showing August U.S. retail sales rose inline with expectations and July's disappointing flat reading was revised to a modest gain. Meanwhile, global sentiment continues to face headwinds amid uncertainties regarding the beginning of the Federal Reserve's rate hike cycle and next week's Scottish independence vote, while also digesting reports of broadened sanctions against Russia by the West. Treasuries are moving lower following the retail sales data, which was accompanied by a … [Read more...]

Stocks Giving Back Yesterday’s Gains

Quote Stuffing

      The domestic equity markets are seeing some early pressure, giving back yesterday's advance on the heels of President Obama's announcement last night that the U.S. will lead a broad coalition to defeat Islamic State militants in Iraq and Syria. Meanwhile, a report showing U.S. jobless claims unexpectedly rose may be further dampening sentiment, along with lingering uncertainties regarding the first rate hike by the Federal Reserve and the outcome of next week's Scottish independence vote. Moreover, traders are digesting some cooler-than-expected inflation reports … [Read more...]

Equities Exhibiting Some Afternoon Resiliency


      Despite ramped up uneasiness regarding the timing of the Federal Reserve's first rate hike ahead of its September 17th policy decision and lingering uncertainty regarding next week's Scottish independence vote, U.S. stocks have overcome early losses and are higher in afternoon action. Meanwhile, Treasury yields are moving higher, along with the U.S. dollar, while gold and crude oil prices are lower. Elsewhere, the U.S. economic calendar remains relatively light, with the July wholesale inventory report mixed and mortgage applications dropping. In equity news, Dollar … [Read more...]

Uncertainty and Lack of Data Weighing on Stocks

Stocks Pressured

      The U.S. equity markets are moving lower in late-morning action, as the Street grapples with Fed rate hike expectations and Scottish independence uncertainty, while some key inflation and credit reports out of China loom on the horizon. Meanwhile, the domestic economic calendar is relatively light, with the lone report being a modestly stronger-than-expected improvement in small business optimism. In equity news, Dow member McDonald's Corp posted a drop in August same-store sales and General Mills agreed to acquire natural and organic food company Annie's, while … [Read more...]

Stocks Pare Early Weakness on Soft Job Report

Federal Reserve Lowers Interest Rate To Bolster Economy

      The domestic equity markets are nearly unchanged in early action after paring early weakness on a softer-than-expected August U.S. nonfarm payroll report, which may be keeping concerns about a sooner-than-expected beginning of rate hikes by the Federal Reserve at bay. The data follows yesterday's announcement from the European Central Bank (ECB) to cut interest rates and begin two asset purchase programs. Treasuries are moving higher following the data, while the U.S. dollar is nearly unchanged after yesterday's rally on the ECB's announcement. In equity news, Gap … [Read more...]