Share This Story
TradeTheNews.com US Market Update: FOMC Meets in Washington, DC
US Market Update: FOMC Meets in Washington, DC
Tue, 17 Sep 2013 11:06 AM EST
- (IL) Israel July Manufacturing Production M/M: 1.5% v 0.0% prior
- (TR) Turkey Central leaves Repurchase Rate unchanged at 4.50%
- (US) Weekly ICSC Chain Store Sales w/e Sept 13th: w/w -1.6%; Y/Y: +3.2%
- (PL) Poland Aug Average Gross Wages M/M: -1.8% v -1.0%e; Y/Y: 2.0% v 2.8%e
- (PL) Poland Aug Employment M/M: 0.1% v 0.0%e; Y/Y: -0.5% v -0.6%e
- (CA) Canada July Manufacturing Sales M/M: +1.7% v +0.5%e
- (US) Aug CPI M/M: 0.1% v 0.2%e; Y/Y:
1.5% v 1.6%e
- (US) Aug CPI Ex Food and Energy M/M: 0.1% v 0.2%e; Y/Y: 1.8% v 1.8%e
- (US) Redbook Retail Sales w/e Sept 13th y/y, Sept MTD: -0.3% m/m; Sept YTD:
- (US) July Total Net TIC Flows:
+$56.7B v -$19.0B -prior; Net Long-term TIC Flows: +$31.1B v -$66.9B prior
- (US) Sept NAHB Housing Market Index:
58 v 59e
- The FOMC is convening in Washington, DC for its two-day meeting this morning
and the gains over recent sessions suggest that markets have finally come to
terms with the inevitability of the forthcoming taper announcement. As of
writing, the DJIA is +0.3%, the S&P500 is +0.3% and the Nasdaq is 0.6%.
- The subdued August US inflation report
shows that price gains remain very moderate, giving the Fed even more cover to
maintain low rates even as it looks to begin withdrawing QE purchases.
Meanwhile the September NAHB homebuilder sentiment index was flat after four
months of gains. This comes as mortgage rates have begun ticking higher.
- With the fall earnings season now on the horizon, firms have begun offering
Q3 profit warnings. Shares of Outerwall
(formerly known as Coinstar) are down more than 13% in the early going after
the firm trimmed its financial targets for the current quarter and the full
year. Trucker Werner Enterprises offered a Q3 outlook that fell well
short of the consensus view, citing a wide range of issues. Nucor is up a few
points after not offering a horrible quarterly view.
- Microsoft renewed its big $40B stock
buyback this morning and also hiked its quarterly dividend by 22%, to
$0.28. Note that this comes just two days ahead of the company's fall analyst
meeting. Shares of MSFT jumped 2% on the news but are down to +0.5% as of
- Apple is up 2% this morning after its shares closed below their 200-day MA
for the first time since August 2012. Analysts have been chattering about the
fact the company is issuing no updates on iPhone preorders, especially for its
new iPhone 5C model.
- Sycamore Partners has taken a nearly
8% stake in troubled teen retailer Aeropostale. Recall that Sycamore
acquired Hott Topic and Billabong earlier this year, and is rumored to be in
takeover talks for the Jones Group. Sycamore also acquired Talbots in 2012.
Shares of ARO are up more than 17% this morning.
- Chinese solar names are losing ground after JinkoSolar outlined plans to
offer 3.5M ADSs. STP is down 3%, YGE is down 4% while JKS is off nearly 10% -
although the stock recently tested two-year highs.
- 11:30 (US) Treasury to sell $ in 4-week and 52-week Bills
- 16:30 (US) Weekly API U.S. Crude Oil Inventories
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."