Posts Tagged ‘Treasury’

U.S. stocks look to recover slightly this morning after a miserable day yesterday. The S&P 500 fell 14 points to a seven-month low of 1,050; since April 26 the index has lost nearly 14% of its value. Ninety minutes before the opening bell, Dow futures are up 25 points to 9,819 and S&P 500 futures are 4.40 points higher at 1,052.40. The 2 year Treasury note yield is 2 basis points higher at 0.738% and the benchmark 10 year Treasury note is +4 basis points at 3.186% WTI crude oil is down $0.32 to $71.12 per barrel, but Spot Gold is up $7.73 to $1,247.98. Global equities are mixed. Stocks in Asia are up between 0.09% (China) to 0.56% (Hong Kong), but stocks in Europe are worse off with the FTSE 100 and CAC-40 off 0.91% and 0.90%, respectively. No U.S. data will hit the markets this morning...(read more)

Investors are timid ahead of the U.S. employment report for May. The numbers are supposed to be broadly positive, but an hour before the report, equity futures are sharply downwards following two straight days of gains. Ninety minutes before the opening bell, Dow futures are off 85 points to 10,173 and S&P 500 futures are down 8.00 points to 1,095.75. The 2-year Treasury note yield is 2 basis points lower at 0.802% and the benchmark 10-year Treasury note is 3bps lower at 3.34%. NYMEX crude oil is also down 0.39 to 74.20 Gold is off 1.40 to 1206.90. Overnight, the Euro fell below $1.21 for the first time since April 2006, and is now at $1.2118. Meantime, the US dollar index, a measure of the dollar against an array of currencies, slipped two basis points to 87.11 Key Events Today: 8:30 ...(read more)

Stock futures ticked higher overnight and look to extend the broad rally which pushed the S&P 2.58% higher yesterday. Ninety minutes before the opening bell, Dow futures are up 29 points to 10,261 and S&P 500 futures are up 3.75 points to 1,100.75. The 2-year Treasury note yield is 2.8 basis points higher at 0.845% while the benchmark 10-year Treasury noteyield is up 4.6 basis points at 3.395%. NYMEX crude oil futures are up 0.40 to $73.26 per barrel, but Gold futures are down 4.40 to $1,216.20. Global markets are also sharply higher, including a 3.24% gain in Japan’s Nikkei 225 and a 2.21% climb in France’s CAC 40. Most other markets are up more between 1% and 2%. China’s Shanghai index is the outlier, trading lower by 0.73%. The broad inclines occurred despite the…(read more)

Equity futures are sharply lower this morning ahead of several key data points for the U.S. “The whiff of uncertainty is still in the air on this Friday morning, ahead of a handful of U.S. economic data,” said economists at BMO. “Indeed, with the slew of data from Europe and China now out of the way this week, the focus returns squarely on North America and, in particular, the U.S.” Ninety minutes before the opening bell, Dow futures are off 64 points to 10,709 and S&P 500 futures are down 11.50 points to 1,145.25. The 2 year Treasury note is 2.5 basis points lower at 0.81% and the benchmark 10 year Treasury note is 3.6 basis points lower at 3.502%. The Fannie Mae 4.5 MBS coupon is +0-04 at 101-11. Meantime, the euro fell to as low as $1.2433USD overnight, its worst...(read more)

The broad stock market rally from yesterday appears to have fizzled out this morning, as equity futures are looking sharply lower ahead of a quiet data in new economic data. The S&P 500 jumped 4.4% yesterday as domestic stocks had their best single-day performance almost 14 months. This morning, however, optimism that a $1 trillion package for Europe is in place has been replaced by questions about how effective it will be. Ninety minutes before the opening bell today, Dow futures are down 81 points to 10,660 and S&P 500 futures are off 10.90 points to 1,145.70. The 2 year Treasury note yield is 4 basis points lower at 0.82% and the 10 year note yield is 5.7 basis points lower at 3.48%. WTI crude oil is down $1.17 to $75.63 per barrel, but Spot Gold is up $13.20 to $1,216.30. Key Events...(read more)

Overseas stock markets are mostly in the red this morning, but equity futures at home are pointing to a strong open ahead of spending, manufacturing, and construction data. Dow futures are up 37 points to 10,997 and S&P 500 futures are up 5.50 points to 1,189.00. Meantime, WTI crude oil is trading 26 cents higher at $86.41 per barrel and Spot Gold is up $3.15 to $1,182.35. The 2 year Treasury note is -0-01 at 100-01 yielding 0.98% and the 10 year Treasury note is -0-09 at 99-13 yielding 3.695%. Sentiment elsewhere is in reverse, however, despite a Eurozone agreement for Greece. “Global markets are lacking the will to rally this morning ― although the U.K., Japan and China are closed ― and the euro failed to stabilize, tumbling below $1.322, despite hard work over the weekend that…(read more)

Stock futures are recovering a portion of yesterday's losses this morning after a sharp sell-off in the final hour of trading Tuesday. No major economic data is scheduled for release, so investors will be devoting their attention to events in Europe until the Federal Reserve releases its latest monetary policy statement in the mid-afternoon. Two hours ahead of the opening bell, Dow futures are up 28 points to 10,983 and S&P 500 futures are trading 3.75 points higher at 1,184.75. The 2 year Treasury note is -0-02 at 99-30 yielding 1.028% and the 10 year note is -0-11 at 99-03 yielding 3.734%. Commodities, by contrast, are pointing downwards: WTI crude oil is off 38 cents to $82.06 per barrel, while Spot Gold is off $3.95 to $1,163.90. In yesterday’s session, the Dow shed 213 points...(read more)

Stock futures are off this morning as the Federal Reserve prepares to begin its two-day monetary policy meeting and Goldman Sachs readies for a Senate Subcommittee investigative hearing. Ahead of the opening bell, Dow futures are off 11 points to 11,140 and S&P 500 futures are trading 4.25 points lower at 1,204. The 2 year Treasury note is +0-01 at 99-30 yielding 1.029% and the 10 year Treasury note is +0-09 at 98-28 yielding 3.774%. Commodities are also pointing downwards: WTI crude oil is off $1.02 to $83.18 per barrel, while Spot Gold is off $2.40 to $1,151.10. Key Events Today: 9:00 ― A watershed moment is expected to be seen in the S&P Case-Shiller Home Price Index for February. Economists expect the index to see year-to-year home prices increase for the first time in 37 months...(read more)

Stock markets are looking to open the final week of April looking up after the benchmark S&P 500 added 2.1% last week. Positive earnings results were the main driver of those gains “as a whopping 84% of S&P 500 companies so far ... have beaten expectations,” said economists at BMO Capital Markets. They noted that the historical norm is just 66%. One hour ahead of the opening bell on Monday, Dow futures are up 33 points to 11,175 and S&P 500 futures are trading 2.25 points higher at 1,214.50. The 2 year Treasury note is +0-01 at 99-29 yielding 1.045% and the 10 year note is +0-06 at 98-20 yileding 3.794%. The commodities picture is mixed: WTI crude oil is up 32 cents to $85.35 per barrel, while Spot Gold is off $1.60 to $1,156.00. In terms of economic data, the week opens...(read more)

As European equities climb higher on Friday, the US stock market is looking to open on a positive note following a late rally yesterday. Dow futures are up 27 points to 11,095 and S&P 500 futures are up 4.25 points to 1,1206. The 2 year Treasury note is -0-01 at 99-29 yielding 1.049% and the 10 year Treasury note is -0-09 at 98-17 yielding 3.803%. The FN 4.5 mortgage-backed security coupon is -0-06 at 100-01. Commodity prices are slightly weaker with WTI crude oil down 15 cents to $83.55 per barrel, while Spot Gold is trading $1.60 lower at $1,139.90. Euro stocks were raised after Greek Minister George Papandreou officially asked for the €45 billion rescue package administered by the IMF and European Union to be activated . Moreover, the German Ifo index of business condition jumped...(read more)