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US Market Update TRADETHENEWS.COM
STAFF
German Court Greenlights ESM, FOMC Gathers In Washington
Economic Data
- (US) MBA Mortgage Applications w/e Sept 7th: +11.1% v -4.3% prior
- (US) Aug Import Price Index M/M: 0.7% v 1.5%e; Y/Y: -2.2% v -1.5%e
- (US) July Wholesale Inventories: 0.7% v 0.3%e
- (US) DOE Crude: +1.99M v -1.5Me; Gasoline: -1.18M v -1.5Me; Distillates: +1.48M v -1Me; Utilization: 84.7% vs. 86.2%e
- A touch of risk appetite has carried over from the European session into New York trading on the largely positive German Constitutional Court ruling on the ESM earlier this morning. The conditions placed on German participation were relatively mild: no more than a €190B German contribution and guarantees that the parliament would be consulted on ESM activities. In the US, the solid July wholesale inventory data helped sustain the risk-on tone in early trading. However, markets have returned to unchanged mid-morning following the data as the FOMC gathers ahead of its big announcement tomorrow.
- Various tech names are in focus this morning. In its mid-quarter update Texas Instruments bucked the trend of bad news out of the semi industry and actually increased its Q3 earnings guidance range slightly. The firm also narrowed its revenue forecast for the quarter. Shares of Facebook jumped following CEO Zuckerberg's first public interview since the botched IPO. FB is up 5% this morning after Zuckerberg offered a mea culpa, admitting that the performance of the stock has been disappointing and insisting that Facebook cares about shareholders. He also made bullish comments about the firm's ...
- (US) MBA Mortgage Applications w/e Sept 7th: +11.1% v -4.3% prior
- (US) Aug Import Price Index M/M: 0.7% v 1.5%e; Y/Y: -2.2% v -1.5%e
- (US) July Wholesale Inventories: 0.7% v 0.3%e
- (US) DOE Crude: +1.99M v -1.5Me; Gasoline: -1.18M v -1.5Me; Distillates: +1.48M v -1Me; Utilization: 84.7% vs. 86.2%e
- A touch of risk appetite has carried over from the European session into New York trading on the largely positive German Constitutional Court ruling on the ESM earlier this morning. The conditions placed on German participation were relatively mild: no more than a €190B German contribution and guarantees that the parliament would be consulted on ESM activities. In the US, the solid July wholesale inventory data helped sustain the risk-on tone in early trading. However, markets have returned to unchanged mid-morning following the data as the FOMC gathers ahead of its big announcement tomorrow.
- Various tech names are in focus this morning. In its mid-quarter update Texas Instruments bucked the trend of bad news out of the semi industry and actually increased its Q3 earnings guidance range slightly. The firm also narrowed its revenue forecast for the quarter. Shares of Facebook jumped following CEO Zuckerberg's first public interview since the botched IPO. FB is up 5% this morning after Zuckerberg offered a mea culpa, admitting that the performance of the stock has been disappointing and insisting that Facebook cares about shareholders. He also made bullish comments about the firm's ...