David's Feed
May 28, 2015
via Morning Bid with David Gaffen

Dollar strength, equity weakness?

The dollar’s renewed vigor has some investors worried that the stock market rally will not last.

They’re also concerned the recent trend in buybacks and merger and acquisition activity means capital expenditure will continue to flag.

May 28, 2015
via Morning Bid with David Gaffen

Dollar strength, equity weakness?

The dollar’s renewed vigor has some investors worried that the stock market rally will not last.

They’re also concerned the recent trend in buybacks and merger and acquisition activity means capital expenditure will continue to flag.

May 27, 2015

Euro off lows, stocks rise on tentative Greek debt accord

NEW YORK (Reuters) – The euro stabilized in volatile trading and stocks rose on Wednesday after reports that Greece and its creditors, including the European Union and IMF, had reached an agreement that will provide debt relief to the struggling nation.

The agreement between Greece and the Brussels Group, comprised of major creditors that include the EU and International Monetary Fund, will include no more wage or pension cuts to help get more aid for the nation, which is in danger of missing debt payments.

May 27, 2015
via Morning Bid with David Gaffen

Big Box Sales

Retail sales at Costco Wholesale Corp should be encouraging enough when the company reports results at the close of trading today.

In early May the company said comp-store sales, excluding gasoline and foreign currency effects, were up 7 percent in April and up 7 percent across the United States in the preceding 35 weeks (not sure why this is the number used, but fine).

May 27, 2015
via Morning Bid with David Gaffen

Big Box Sales

Retail sales at Costco Wholesale Corp should be encouraging enough when the company reports results at the close of trading today.

In early May the company said comp-store sales, excluding gasoline and foreign currency effects, were up 7 percent in April and up 7 percent across the United States in the preceding 35 weeks (not sure why this is the number used, but fine).

May 22, 2015
via Morning Bid with David Gaffen

The Road Was Long, But You Ran It (Janet)

On an otherwise quiet day for markets, everyone’s got their eye on Janet Yellen, who speaks at 1:00 p.m. ET (1700 GMT), and it looks like she’s going to make a bit of a case for the Federal Reserve to start raising rates in the near-term.

It won’t be June, but September appears to be very much the likely path here, even if the markets don’t quite believe that.

May 22, 2015
via Morning Bid with David Gaffen

The Road Was Long, But You Ran It (Janet)

On an otherwise quiet day for markets, everyone’s got their eye on Janet Yellen, who speaks at 1:00 p.m. ET (1700 GMT), and it looks like she’s going to make a bit of a case for the Federal Reserve to start raising rates in the near-term.

It won’t be June, but September appears to be very much the likely path here, even if the markets don’t quite believe that.

May 20, 2015
via Morning Bid with David Gaffen

Fed in the Red

The Federal Reserve’s upcoming minutes on Wednesday will serve as something as a precursor of Janet Yellen’s coming Friday speech that looks like it will set the tone for the coming Fed meetings and what should be the market’s outlook for Fed policy.

So it’s instructive to try to look at the last minutes (for the March meeting) to see what may come out of the next minutes (for the April meeting) even though all of this is a bit dated given that the next Fed meeting we’re talking about comes in June.

May 20, 2015
via Morning Bid with David Gaffen

Fed in the Red

The Federal Reserve’s upcoming minutes on Wednesday will serve as something as a precursor of Janet Yellen’s coming Friday speech that looks like it will set the tone for the coming Fed meetings and what should be the market’s outlook for Fed policy.

So it’s instructive to try to look at the last minutes (for the March meeting) to see what may come out of the next minutes (for the April meeting) even though all of this is a bit dated given that the next Fed meeting we’re talking about comes in June.

May 15, 2015
via Morning Bid with David Gaffen

Impressionism

Markets close out another week of interesting times, left with only a few notable data points over the next few weeks to drive activity, and with more than a few people throwing their hands in the air (in confusion, not because they just don’t care).

At this point, the declines in bond market yields have been more positive than lousy for stocks, Dan Greenhaus of BTIG notes. So there’s a bit of upside support for the equity market. Where the rest of the world is going is another story, and whether the equity market can continue to survive on the vestiges of “Hey, the Fed might hang around longer” is part of that.

    • About David

      "David Gaffen oversees the U.S. markets team, having joined Reuters in May 2009. He spent four years at the Wall Street Journal, where he was the original writer of the web site's MarketBeat blog. He is a frequent guest on Reuters TV, and has appeared on CNN International, Fox Business, NPR, and assorted other media and is the author of the book "Never Buy Another Stock Again.""
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