Afternoon Brief
Welcome to the today’s Afternoon Brief- Four hours into the U.S. session equities continue fall on data showing contracting manufacturing activity in the Chicago area, Chicago’s PMI came in at 49.7.
Bank of America Settles Class Action Lawsuit
Bank of America (BAC, quote) announced it has agreed to settle a class action lawsuit over its acquisition of Merrill Lynch in a settlement much larger than excepted of $.2.43 billion. The lawsuit was on the behalf of Bank of American stock holders when Bank of America announced plans to buy Merrill Lynch during the fall out of the financial crisis in the fall of 2008.
Breaking News – Personal Income
Breaking News – Personal Income
Morning Coffee Break
Welcome to Friday’s Morning Coffee Break – U.S. futures are moving lower on the last day of the week and quarter on fears from the Euro Zone fears and U.S. economic data. After mix data from the U.S. economic calendar traders are looking towards Consumer Income, Spending and Sentiment reports.
Grain Commentary Report
What a difference a month makes, just 30 days ago the bean and corn markets were pushing near all-time highs with thoughts of another 10% surge, there wasn’t many anticipating that the 10% move would be lower. The seasonal tendency all points towards September being a dismal month to be long grains, but this year was different…right? Apparently not. So what does the market do from here?
Afternoon Brief
Welcome to the today’s Afternoon Brief- Four hours into the U.S. session equities continue to climb after Spain released its 2013 budget. According to a release from Deputy Prime Minister the budget will focus on spending cuts and not raise taxes.
Euro Losing Ground to the U.S. Dollar
The Euro continues to be under pressure for the 9th straight session. As headlines hit the wires about Greece and Spain market participants look to move away from the risk appetite assets send money flowing out of the Euro and into the U.S. dollar. Playing the move Euro move
Breaking News – Pending Home Sales
Breaking News – Pending Home Sales Report.
Break News –
Breaking News – U.S. Economic Data
Morning Coffee Break
Welcome to Thursday’s Morning Coffee Break – U.S. markets struggled the first 3 sessions of the week as its on pace for the largest weekly move in 4 months. However, in today’s pre-market U.S. futures are pointing to bounce higher at the open as traders approached not only end of the week but the end of the 3rd quarter.
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