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Published At Asset Class / Category Tickers Content
Friday, 27 May 2016
21:30
Friday, 27 May 2016
21:18
Source: WSJ
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Friday, 27 May 2016
21:02

Today’s session was thin on the ground in terms of both volumes and price driving news, with the focal point coming in the form of comments from Chair Yellen. Stocks managed to grind higher however, with the S&P 500 in close proximity to the April 20th high of 2102.40. The stock story of the day was Google winning a court case against Oracle (released post market yesterday), causing a bump in Alphabet shares, however Oracle are set to appeal the decision. The DJIA finished up 0.25% at 17873.22, S&P 500 finished up 0.43% at 2099.06 and the NASDAQ-100 finished up 0.55% at 4512.54

Comments from Fed Chair Yellen were the focal point of the session and she reiterated that it will probably be appropriate to hike in the coming months, causing some mild dollar strength.  Although her comments relating to monetary policy were brief, they were enough for USD/JPY to take 110 and retest 110.50 and for EUR/USD to test 1.11.

Having spent the day in a tight range, Yellen’s comments were the impetus needed for the break out and the 10y September future fell around 10 ticks over the next two hours of trade. After leaving June/July on the table, yields rose with the curve finishing fairly mixed and some slight outperformance in the long end. T-note Sep'16 futures closed early, down 3 ticks at 129.22+.

Looking ahead, participants will enjoy the Memorial Day weekend. Once back in the office on Tuesday however, participants will be faced with a week full of tier one data including the last NFP report before the June meeting.

Source: RANsquawk
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Friday, 27 May 2016
21:00

- On Sunday May 29th the Asia-Pacific service will open at its regular time of 2200BST/1600CDT with the European service also opening at its regular time of 0630BST/0030CDT given that European markets will be open for trade.

- The European service will run to 1630BST to cover the European cash equity close, upon which the desk will close. Note, there will be no US service thereafter for that session due to US market closures.

- The service will then re-open later that evening on May 30th at 2200BST for the beginning of the Asia-Pacific session with full coverage to resume thereafter on Tuesday May 31st.

UK

All UK products are closed

EUROPE

Regular close and trading

US

Floor Trade

All closed

Electronic Trade

Equity (Closed 1200CDT/1800BST, Re-opens 1700CDT/2300BST)

Interest Rate (Closed 1200CDT/1800BST, Re-opens 1700CDT/2300BST)

FX (Closed 1200CDT/1800BST, Re-opens 1700CDT/2300BST)

NYMEX (Closed 1200CDT/1800BST, Re-opens 1700CDT/2300BST)

Source: RANsquawk
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Friday, 27 May 2016
20:52
Tags: US Session
Source: Hammerstone Market Talk Forum
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Friday, 27 May 2016
20:50

TIME: 1437BST/0937EDT

NEWS:  RANsquawk sources noted talk that Carl Icahn had taken an 8% stake in US Steel (X). RANsquawk analysts immediately reported the news and due to Carl Icahn being historically considered an activist investor, noted that there was potential upside in the Co.’s shares.

REACTION: In an immediate reaction US Steel rose 1.70% from USD 14.84 to USD 15.09.

Source: RANsquawk
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Friday, 27 May 2016
20:46
  • FEI Co (FEIC) (1201BST/0601CDT) - Thermo Fisher (TMO) are to purchase the Co. for USD 4.2bln, with reflects a premium of 13.7% on the last close.
     
  • Valeant Pharmaceuticals (VRX) (1300BST/0700CDT) – Takeda have approached the Co. in regards to an acquisition prior to Joseph Papa becoming CEO but the Co. rejected the offer, according to sources.
     
  • Waste Connections (WCN) (1300BST/0700CDT) – Co. stockholders have approved the merger with Progressive Waste Solutions.
     
  • Terex (TEX) (1400BST/0800CDT) – Co. have stated that discussions with Zoomlion have come to an end.
     
  • Marketo (MKTO) (1603BST/1003CDT) – The Co. are in advanced takeover discussions with Vista, according to sources.
     
  • Baxalta (BXLT) (1756BST/1156CDT) - shareholders have approved the merger with Shire (SHPG)
Source: RANsquawk
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Friday, 27 May 2016
20:40

- EUR short 38K vs 23K short prior week

- GBP  short  33K vs. 38K short prior week

- JPY long 22K vs 59K long prior week

- CAD long 20K vs 23K long prior week

- CHF long 4K vs 4K long prior week

- AUD long 0.1K vs. 25K long prior week

- NZD long 4.6K vs 7K long prior week

Source: Forex Live
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Friday, 27 May 2016
19:58
Friday, 27 May 2016
19:30
Source: RANsquawk
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Friday, 27 May 2016
19:30
Friday, 27 May 2016
19:13
Friday, 27 May 2016
18:58
Source: Newswires
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Friday, 27 May 2016
18:42
Friday, 27 May 2016
18:40
Reaction details: 18:44

- In an immediate reaction, the E-mini S&P 500 fell from 2094.00 to 2089.75 and the 10y Sep'16 future fell 7+ ticks from 129.22+ to 129.15 while EUR/USD fell 27 pips from 1.1148 to 1.1121.

Source: Newswires
Print
Friday, 27 May 2016
18:02

- On Sunday May 29th the Asia-Pacific service will open at its regular time of 2200BST/1600CDT with the European service also opening at its regular time of 0630BST/0030CDT given that European markets will be open for trade.

- The European service will run to 1630BST to cover the European cash equity close, upon which the desk will close. Note, there will be no US service thereafter for that session due to US market closures.

- The service will then re-open later that evening on May 30th at 2200BST for the beginning of the Asia-Pacific session with full coverage to resume thereafter on Tuesday May 31st.

UK

All UK products are closed

EUROPE

Regular close and trading

US

Floor Trade

All closed

Electronic Trade

Equity (Closed 1200CDT/1800BST, Re-opens 1700CDT/2300BST)

Interest Rate (Closed 1200CDT/1800BST, Re-opens 1700CDT/2300BST)

FX (Closed 1200CDT/1800BST, Re-opens 1700CDT/2300BST)

NYMEX (Closed 1200CDT/1800BST, Re-opens 1700CDT/2300BST)

Source: RANsquawk
Print
Friday, 27 May 2016
18:00

- Oil Rig Count (May 27) W/W 316 (Prev. 318)

- Gas Rig Count (May 27) W/W 87 (Prev. 85)

Reaction details: 18:04

- No reaction seen in WTI Crude futures 

Source: Baker Hughes Inc.
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Friday, 27 May 2016
17:56
Friday, 27 May 2016
17:20
Source: Newswires
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Friday, 27 May 2016
16:46
Friday, 27 May 2016
16:41
Friday, 27 May 2016
16:38
Source: RANsquawk
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Friday, 27 May 2016
16:32
Tags: USD - EU Session - Copper
Source: Newswires
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Friday, 27 May 2016
16:21

Into the weekend we saw the market continue to push the USD higher, hitting fresh lows in EUR/USD ahead of 1.1100 where we see some heavy bids soaking up the pressure.  There was little to drive the move lower – if anything the slightly lower revision in Q1 US GDP and the miss on Michigan sentiment providing the perfect opportunity for some retracement, but the rejection of 1.1200 higher up guiding the intra-day market to the downside again.  USD/JPY has been pushed back up towards 110.00 as a result, with the positive mood in equities helping to a degree, but the USD perspective the key driver today.   GBP trade has been mixed, with Cable following the rest of the pack but EUR/GBP tentatively taking out resistance at .7640.  In the commodity pairs, USD/CAD looks to have based out ahead of 1.2900, but has run into some near term support in the upper 1.3000’s.  Oil prices remain well placed for another test on $50.0, so this will hold off any aggressive buying at current levels.   AUD/USD is also on the back foot again, having run into good offers from .7240 on the high side. Along with the NZD, lower levels remain in focus, but achieving them is hard-fought.  Fed chair Yellen set to speak after the London close at Harvard, but expectations on coverage of monetary policy light.  Looking to next week we have a slow start with both the UK and UK off on holiday.  At the other end of the week is US non farm payrolls, so plenty of USD to-and-fro likely.  Thursday sees the Jun ECB meeting, but nothing new expected here.  PMIs are the other notable data theme running through the week. 

Source: RANsquawk
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Friday, 27 May 2016
16:17