US stock market indexes opened to a flat start this morning (SPY _0.01%), with the markets pausing after fresh record high closes yesterday. Crude prices are trending up while the US dollar is slipping.
Here is the current market situation from CNN Money
European markets are lower today with shares in France off the most. The CAC 40 is down 0.37% while London's FTSE 100 is off 0.27% and Germany's DAX is lower by 0.23%.
Looking at the last three columns, the first one (Actual), is what was reported this morning. The second column (Forecast) is what analysts had forecast and the third column is the previous report. Full calendar HERE.
Fed fund futures priced in around a 27% chance of a rate hike in March, according to Investing.com's Fed Rate Monitor Tool, up from less than 10% at the start of the week. Odds of a June increase was seen at around 74%.
WASHINGTON (Reuters) - U.S. homebuilding fell in January as the construction of multi-family housing projects dropped, but upward revisions to the prior month's data and a jump in permits to a one-year high suggested the housing recovery remained on track.
WASHINGTON/NEW YORK (Reuters) - America's largest banks are to propose a complete overhaul of how financial institutions investigate and report potential criminal activity, arguing that rules imposed in the years after the Sept. 11, 2001 attacks and strengthened during the Obama administration are onerous and ineffective, sources said. The Clearing House, a trade association representing the largest U.S. banks including Goldman Sachs , JPMorgan Chase & Co and Bank of Am
SEOUL (Reuters) - Samsung Group leader Jay Y. Lee left a Seoul court after more than eight hours on Thursday to await a decision on whether he will be arrested over his alleged role in a corruption scandal that has engulfed President Park Geun-hye.
NEW YORK (Reuters) - The Trump administration's combative view of traditional news media as the "opposition party" and "fake news" is turning out to be the best hope in 2017 for newspapers struggling to attract more digital readers and advertisers.
FRANKFURT (Reuters) - Deutsche Boerse's chief executive said insider trading allegations against him would prove unfounded, pointing out that he did not determine the timing of his share purchases ahead of the announcement of merger plans with the London Stock Exchange .
HONG KONG (Reuters) - A Chinese consultancy that has previously helped to win antitrust battles against Coca-Cola and Apple has taken aim at McDonald's Corp, arguing in a complaint to regulators that the American fast food giant's China sale may hurt workers and consumers.
While less exciting than yesterday, when Trump again praised his stupendous, "imminent" tax plan while meeting with retail CEOs complaining about border adjustment, before telling Netanyahu he is ok with either a one or "two-state" solution, all eyes will again remain focused on DC, and - of course - the biggest wildcard, Donald Trump. Here's a look at scheduled events of interest today in Washington, courtesy of Bloomber; all times Eastern
Senate vote on nomination of Rep. Mick Mulvaney to lead Office of Management and Budget
Senate cmte hearings to consider nominations of David Friedman to be U.S. ambassador to Israel and Seema Verma to lead Centers for Medicare and Medicaid Services
10:30am: President Trump participates in Congressional listening session
1:25pm: Trump speaks with President Beji Caid Essebsi of Tunisia in phone call
Dennis Kucinich, Former U.S. Rep. and Democratic presidential candidate, defended Donald Trump on "Mornings with Maria" on Tuesday.
In regards to Michael Flynn's resignation, Kucinich defended Trump and told America to "Wake Up"
In the interview, Kucinich blamed factions of the US intelligence community for wanting to end any positive relationship between Russia and the US, hoping for a return of the cold war.
"...the American people have to know that there's a game going on inside the intelligence community... at the bottom of all this is the fact that there are those that seek to separate US from Russia to reignite the cold war... wake up America!!"
Kucinich did not see this as an anti-Trump game, but rather an anti-Russia game:
"It's not just this administration. I want to remind the views and all those who are on the panel that in the closing months of the Obama administration, they put together a deal with Russia to create peace in Syria. A few days later, a military strike in Syria killed a hundred Syrian soldiers and that ended the agreement. What happened is inside the intelligence and the Pentagon there was a deliberate eff ...
Against expectations of a 18.0 print, February's Philly Fed exploded higher to 43.3 - the highest since January 1984. This is a 10-standard-deviation beat, led by a surge in new orders and the workweek, despite a decline in 'hope' and the number of employees.
Everything is Awesome America... especially in Philapdelphia?
The index for current manufacturing activity in the region increased from a reading of 23.6 in January to 43.3 this month and has remained positive for seven consecutive months.
The share of firms reporting growth continues to increase: More than 48 percent of the firms reported increases in activity this month compared with 40 percent last month. The index for current new orders increased 12 points this month (with 44 percent of the firms reporting increases and just 6 percent reporting decreases).
For context, that is a 10-sigma event...
But 'hope' declined...
And as the full breakdown shows, the number of employees declined, as did inven ...
The market expectations for weekly initial unemployment claims (from Bloomberg / Econoday) were 242 K to 250 K (consensus 246,000), and the Department of Labor reported 239,000 new claims. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 244,750 (reported last week as 244,250) to 245,250. The rolling averages generally have been equal to or under 300,000 since August 2014.
Gold futures tried for back-to-back gains Thursday as the dollar wavered. Gold's gain Wednesday snapped what had been a four-session, more than 1%, fall, stoked by expectations for dollar-boosting higher U.S. interest rates.
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