Larry Summers withdrew his name from the Federal Reserve Chairman pool on Sunday afternoon New York time. Classic risk-on price action has ensued in the overnight session. Larry Summers Won’t be Fed Chairman. After months …
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The main overnight move occurred around 1:15 am EDT following this online Nikkei report. Financial markets have since retraced much of that move. Nikkei Speculates That Summers to be Nominated for Fed chair soon – The …
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Equity markets were quiet, while currency and commodity markets were a bit more active. Asian Equity Markets Are Subdued – The largest move in either direction for the major indices was the 0.9% decline in Indian …
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Obama’s speech last night was the headline event in an otherwise quiet overnight session. President Obama Delays Congressional Vote on Syria – This was expected after Syria’s acceptance of Russia’s offer to hand over its chemical …
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VIX spot fell almost 2 points yesterday, with the entire VIX futures curve down more than 1 point. That’s a huge move for VIX futures. Especially with payrolls today, and elections on Tuesday. Most interesting …
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Part of the difficult part of being bearish on markets is that you get rewarded in very brief intervals, while the majority of time, markets grind higher. Even in bear markets, the falls are drastic …
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Main overnight story? Weak European PMI. This is the chart making the rounds (and it caused SPX futures to sell off from their overnight highs): European growth showing no signs of picking up. …
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I am working on a MSFT earnings preview that will be out later this morning. In the meantime, here are the highlights from markets overnight: Asia continued to be the region of strength, with all …
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Today’s jobs report holds less meaning than previous reports this year. The Fed has already instituted the long-rumored QE3. One monthly data point also does not have much meaning for the broader economy. But traders …
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I showed the extreme drop in Durable Goods Orders in one Chart of the Day post last week. It was the second largest drop in the data set. But ex-transport orders were close to flat. …
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