Day: February 22, 2017

European Benchmarks Rise On M&A and Corporate Earnings

European benchmarks were mixed on Wednesday as continued M&A activity and solid corporate earnings boosted markets in Western Europe The FTSE 100 in London was top of the class for the session, after rising 0.38%, to close at 7,302. The DAX added 0.26% in Frankfurt, to close at 11,998, while the CAC 40 in Paris rose by 0.15% to settle at 4,895.

European Benchmarks Rise On M&A and Corporate Earnings

European benchmarks were mixed on Wednesday as continued M&A activity and solid corporate earnings boosted markets in Western Europe The FTSE 100 in London was top of the class for the session, after rising 0.38%, to close at 7,302. The DAX added 0.26% in Frankfurt, to close at 11,998, while the CAC 40 in Paris rose by 0.15% to settle at 4,895.

Timken Steel Has Been Building on Breakout

Prices are extended now so new longs should wait for a pullback to unwind the overbought conditions and give us a lower-risk entry point on the charts. In this updated one-year daily bar chart of TMST, above, we can see several months of sideways price action around the $10 level.

Rate Hikes Boost Bank Deposits

Repurchase agreements, or repos, are a tool of monetary operations used by the Fed in carrying out monetary policy. In a repo, the Fed will buy securities from authorized counterparties at an agreed-upon price for an agreed-upon term.

Most Americans dona t know the truth about crime

Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events In his inaugural address President Trump offered a characteristically bleak vision of an America beset by “crime and gangs and drugs that have stolen too many lives and robbed our country of so much unrealized potential,” and he promised that “this American carnage stops right here and stops right now.” The subject of crime has been a driving force of the first 100 days of the Trump administration.

S&P, Nasdaq Dip Ahead of Fed Minutes; Dow Hits Record High

The S&P 500 and the Nasdaq slipped on Wednesday as investors awaited the Federal Reserve’s minutes from its most recent meeting for clues on the timing of the next interest rate hike. However, the Dow Jones Industrial Average hit a record intraday high for the eighth time in nine sessions, powered by a 4 percent gain in DuPont shares.

S&P, Nasdaq Dip Ahead of Fed Minutes; Dow Hits Record High

The S&P 500 and the Nasdaq slipped on Wednesday as investors awaited the Federal Reserve’s minutes from its most recent meeting for clues on the timing of the next interest rate hike. However, the Dow Jones Industrial Average hit a record intraday high for the eighth time in nine sessions, powered by a 4 percent gain in DuPont shares.

FCC defends not fighting legal challenge to prison call rates

The Federal Communications Commission is defending its decision not to fight a legal challenge to its rate cap on prison phone calls that it passed under the Obama administration. Brendan Carr, the commission’s acting general counsel, wrote in a letter to Rep. Bobby Rush that the FCC’s stance has changed now that the group is chaired by Republican Ajit Pai, who criticized the original rule when it first passed.

FCC defends not fighting legal challenge to prison call rates

The Federal Communications Commission is defending its decision not to fight a legal challenge to its rate cap on prison phone calls that it passed under the Obama administration. Brendan Carr, the commission’s acting general counsel, wrote in a letter to Rep. Bobby Rush that the FCC’s stance has changed now that the group is chaired by Republican Ajit Pai, who criticized the original rule when it first passed.

Wednesday’s ETF Movers: MCHI, GDX

In trading on Wednesday, the iShares MSCI China ETF is outperforming other ETFs, up about 0.9% on the day. Components of that ETF showing particular strength include shares of Netease , up about 3.4% and shares of Alibaba Group Holding , up about 2.8% on the day.

Citigroup Sets Up D.C. Team as Trump’s Regulatory Overhaul Looms

Citigroup Inc. is establishing a global regulatory affairs team in Washington as Wall Street firms prepare for the possibility of widespread changes to financial rules under the Trump administration. The new group, which will work alongside the bank’s lobbyists and focus on policy at U.S. and overseas regulators, is being run by Kevin Bailey, a former longtime official at the Office of the Comptroller of the Currency.

Citigroup Sets Up D.C. Team as Trump’s Regulatory Overhaul Looms

Citigroup Inc. is establishing a global regulatory affairs team in Washington as Wall Street firms prepare for the possibility of widespread changes to financial rules under the Trump administration. The new group, which will work alongside the bank’s lobbyists and focus on policy at U.S. and overseas regulators, is being run by Kevin Bailey, a former longtime official at the Office of the Comptroller of the Currency.

For Asset Managers Battling Index Funds, It’s Hunt or Be Hunted

Janus Capital Group Inc. and U.K.-based Henderson Group Plc are merging to reduce costs, broaden their product mix and expand geographically. Last week, Japan’s SoftBank Group Corp. struck a $3.3 billion agreement to buy alternative-asset manager Fortress Investment Group LLC, whose shares had lost two-thirds of their value since the company went public in 2007.

For Asset Managers Battling Index Funds, It’s Hunt or Be Hunted

Janus Capital Group Inc. and U.K.-based Henderson Group Plc are merging to reduce costs, broaden their product mix and expand geographically. Last week, Japan’s SoftBank Group Corp. struck a $3.3 billion agreement to buy alternative-asset manager Fortress Investment Group LLC, whose shares had lost two-thirds of their value since the company went public in 2007.

Martin Scorsese and Robert De Niro’s long-awaited new gangster…

It looks like you won’t have to run to the theater to see the long-awaited reunion of Martin Scorsese and Robert De Niro. The project, which has been in the works for decades and will mark the ninth time Oscar winners Scorsese and De Niro have worked together, “I Heard You Paint Houses,” which looks at hitman Frank “The Irishman” Sheeran, who allegedly told Brandy for the book that he killed Jimmy Hoffa.

Martin Scorsese and Robert De Niro’s long-awaited new gangster…

It looks like you won’t have to run to the theater to see the long-awaited reunion of Martin Scorsese and Robert De Niro. The project, which has been in the works for decades and will mark the ninth time Oscar winners Scorsese and De Niro have worked together, “I Heard You Paint Houses,” which looks at hitman Frank “The Irishman” Sheeran, who allegedly told Brandy for the book that he killed Jimmy Hoffa.

An investigation into the former president of the ‘poor man’s…

A federal investigation into Lisa S. Coico, former president of City College, the flagship of the City University of New York , has expanded, the New York Times reported. Prosecutors are now investigating an additional money source – the City College Fund – to understand why the fund apparently paid Coico without university approval, according to the Times, which said the arrangement was not reported on tax returns.

An investigation into the former president of the ‘poor man’s…

A federal investigation into Lisa S. Coico, former president of City College, the flagship of the City University of New York , has expanded, the New York Times reported. Prosecutors are now investigating an additional money source – the City College Fund – to understand why the fund apparently paid Coico without university approval, according to the Times, which said the arrangement was not reported on tax returns.

Two in 3 Americans will never retire at this rate

Less than one-third of Americans are saving money in their 401 s and other workplace retirement accounts, according to an analysis of tax records by Census Bureau researchers. Although nearly 80 percent of Americans work for an employer that offers retirement programs – whether a 401 , 403 or something else – only 32 percent of workers sign up for such accounts, according to a working draft of the study by Michael Gideon and Joshua Mitchell.

US Treasury Yields Rise; All Eyes On Fed Minutes

To read Chairman Yellen’s remarks, visit Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. on February 14, 2017, and Chair Yellen submitted identical remarks to the Committee on Financial Services, U.S. House of Representatives, on February 15, 2017 . The Fed minutes due to be released later on Wednesday could either reinforce or undermine recent hawkish comments from central bank policy makers.

Welltower Tops Fourth Quarter Estimates

Healthcare infrastructure provider Welltower topped analysts’ fourth quarter earnings estimates, reporting an EPS of $1.10 per share vs. Wall Street’s $1.09 per share expectations. Revenue for the period also beat, with the company reporting income of $1.08 billion vs. $1.04 billion expectations.

Trader’s Daily Notebook: Where’s the Volume?

Remember how quiet the market was in early to mid- January? Each regular-session auction between Jan. 4 and 23 could be summarized like this: The E-Mini S&P 500 futures spend yet another day rotating between the mid-2250s and low 2270s. For nearly three weeks, the contract made zero progress, while folks in the media and active traders grew justifiably frustrated with the market’s lack of directional conviction.