Gold Miners Hit Session Lows Following Fed (NEM) (GG) (ABX) (GLD) (GDX) Oct 29, 2014 03:08PM

Gold mining stocks including Goldcorp (NYSE: GG), Newmont Mining (NYSE: NEM), and Barrick Gold (NYSE: ABX) tumbled Wednesday as gold prices softened in response to a statement from the FOMC and an end to QE. Yamana (NYSE: AUY), Kinross Gold (NYSE: KGC) Silver Wheaon (NYSE: SLW), and Alamos Gold (NYSE: AGI) also declined

Spot gold prices and instruments like SPDR Gold Shares (NYSE: GLD) traded lower by about 1.25% for the session. Market Vectors Gold Miners ETF (NYSE: GDX) declined about 3% intraday and Market Vectors Junior Gold Miners ETF (NYSE: GDXJ) dropped over 5%.


Fed Ends Third Round of QE as Planned; Sees 'Solid Job Gains' with Lower Unemployment Oct 29, 2014 02:01PM

(Updated - October 29, 2014 2:01 PM EDT)

Fed ends third round of QE as planned. Sees 'solid job gains' with lower unemployment.

Information received since the Federal Open Market Committee met in September suggests that economic activity is expanding at a moderate pace. Labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate. On balance, a range of labor market indicators suggests that underutilization of labor resources is gradually diminishing. Household spending is rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Inflation has continued to run below the Committee's longer-run objective. Market-based measures of inflation compensation have declined somewhat; survey-based measures of longer-term inflation expectations have remained stable.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators and inflation moving toward levels the Committee judges consistent with its dual mandate. The Committee sees the risks to the outlook for economic activity and the labor market as nearly balanced. Although inflation in the near term will likely be held down by lower energy prices and other factors, the Committee judges that the likelihood of inflation running persistently below 2 percent has diminished somewhat since early this year.

The Committee judges that there has been a substantial improvement in the outlook for the labor market since the inception of its current asset purchase program. Moreover, the Committee continues to see sufficient underlying strength in the broader economy to support ongoing progress toward maximum employment in a context of price stability. Accordingly, the Committee decided to conclude its asset purchase program this month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. This policy, by keeping the Committee's holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.

To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate. In determining how long to maintain this target range, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. The Committee anticipates, based on its current assessment, that it likely will be appropriate to maintain the 0 to 1/4 percent target range for the federal funds rate for a considerable time following the end of its asset purchase program this month, especially if projected inflation continues to run below the Committee's 2 percent longer-run goal, and provided that longer-term inflation expectations remain well anchored. However, if incoming information indicates faster progress toward the Committee's employment and inflation objectives than the Committee now expects, then increases in the target range for the federal funds rate are likely to occur sooner than currently anticipated. Conversely, if progress proves slower than expected, then increases in the target range are likely to occur later than currently anticipated.

When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.

Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Stanley Fischer; Richard W. Fisher; Loretta J. Mester; Charles I. Plosser; Jerome H. Powell; and Daniel K. Tarullo. Voting against the action was Narayana Kocherlakota, who believed that, in light of continued sluggishness in the inflation outlook and the recent slide in market-based measures of longer-term inflation expectations, the Committee should commit to keeping the current target range for the federal funds rate at least until the one-to-two-year ahead inflation outlook has returned to 2 percent and should continue the asset purchase program at its current level.


Fed Ends Third Round of QE as Planned; Sees 'Solid Job Gains' with Lower Unemployment Oct 29, 2014 02:01PM

(Updated - October 29, 2014 2:01 PM EDT)

Fed ends third round of QE as planned. Sees 'solid job gains' with lower unemployment.

Information received since the Federal Open Market Committee met in September suggests that economic activity is expanding at a moderate pace. Labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate. On balance, a range of labor market indicators suggests that underutilization of labor resources is gradually diminishing. Household spending is rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Inflation has continued to run below the Committee's longer-run objective. Market-based measures of inflation compensation have declined somewhat; survey-based measures of longer-term inflation expectations have remained stable.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators and inflation moving toward levels the Committee judges consistent with its dual mandate. The Committee sees the risks to the outlook for economic activity and the labor market as nearly balanced. Although inflation in the near term will likely be held down by lower energy prices and other factors, the Committee judges that the likelihood of inflation running persistently below 2 percent has diminished somewhat since early this year.

The Committee judges that there has been a substantial improvement in the outlook for the labor market since the inception of its current asset purchase program. Moreover, the Committee continues to see sufficient underlying strength in the broader economy to support ongoing progress toward maximum employment in a context of price stability. Accordingly, the Committee decided to conclude its asset purchase program this month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. This policy, by keeping the Committee's holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.

To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate. In determining how long to maintain this target range, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. The Committee anticipates, based on its current assessment, that it likely will be appropriate to maintain the 0 to 1/4 percent target range for the federal funds rate for a considerable time following the end of its asset purchase program this month, especially if projected inflation continues to run below the Committee's 2 percent longer-run goal, and provided that longer-term inflation expectations remain well anchored. However, if incoming information indicates faster progress toward the Committee's employment and inflation objectives than the Committee now expects, then increases in the target range for the federal funds rate are likely to occur sooner than currently anticipated. Conversely, if progress proves slower than expected, then increases in the target range are likely to occur later than currently anticipated.

When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.

Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Stanley Fischer; Richard W. Fisher; Loretta J. Mester; Charles I. Plosser; Jerome H. Powell; and Daniel K. Tarullo. Voting against the action was Narayana Kocherlakota, who believed that, in light of continued sluggishness in the inflation outlook and the recent slide in market-based measures of longer-term inflation expectations, the Committee should commit to keeping the current target range for the federal funds rate at least until the one-to-two-year ahead inflation outlook has returned to 2 percent and should continue the asset purchase program at its current level.


Traders Place Bets Ahead of Brazil Elections (PBR) (VALE) Oct 24, 2014 03:20PM

Petrobras (NYSE: PBR), Vale S.A. (NYSE: VALE) and other Brazil stocks are on watch ahead of elections Sunday. Incumbent Dilma Rousseff and rival AĆ©cio Neves are practically neck and neck, with conflicting poll data from Sensus and Datafolha/Ibope. Some reports say Rousseff has a slight edge.

Earlier this week, hedge fund manager Jim Chanos described Petrobras as a scheme and called both stocks two of his favorite shorts. Since then shares have been pressured, but pared loses Friday.

If business friendly Neves wins, traders expect Brazil stocks to surge, at least for a day -- regardless of which horse Chanos is betting on.

One way or the other, options traders expect Petrobras sparks to fly Monday. Traders will also be watching iShares MSCI Brazil ETF (NYSE: EWZ).


Natural Gas Inventory 94 bcf vs 98 bcf Expected Oct 23, 2014 10:30AM

Natural Gas Inventory 94 bcf vs 98 bcf Expected

Traders are watching futures and ETFs like United States Natural Gas (NYSE: UNG).


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Oct 16, 2014 01:13PM WTI, Brent Hit Session Highs (USO)
Oct 16, 2014 11:03AM UPDATE: Crude Inventory Grows 8.9M Barrels vs 2.3M Expected
Oct 16, 2014 07:11AM WTI crude falls below $80 for first time since June 2012 (OIL) (USO)
Oct 15, 2014 02:35PM Yellen Said to Voice Confidence in Expansion Amid Foreign Risks
Oct 15, 2014 02:35PM Yellen Said to Voice Confidence in Expansion Amid Foreign Risks
Oct 15, 2014 02:02PM Most Regional Fed Banks Saw Modest or Moderate Economic Growth - Beige Book
Oct 15, 2014 02:02PM Most Regional Fed Banks Saw Modest or Moderate Economic Growth - Beige Book
Oct 14, 2014 09:57AM IEA Lowers Oil Demand Outlook for FY14 on Economic Growth Outlook, Weak Recent Trend (USO) (OIL)
Oct 10, 2014 03:54PM VIX Poised to Close Above 20
Oct 10, 2014 03:35PM Dow Trades Nearly Flat in 2014 Following Recent Slump from All-Time High(DIA)
Oct 9, 2014 02:34PM WTI crude futures close 20% below June peak (USO) (OIL)
Oct 9, 2014 02:14PM Gold Rises Again as Traders Hedge Volatile Market (GG)
Oct 9, 2014 10:30AM Natural Gas Inventory 105 bcf vs 109 bcf Expected
Oct 8, 2014 02:17PM Gold Miners Gain Following FOMC Minutes (GG) (SLW) (ABX)
Oct 8, 2014 02:01PM Fed Officials Saw Global Slowdown Among Risks to U.S. Outlook
Oct 8, 2014 02:01PM Fed Officials Saw Global Slowdown Among Risks to U.S. Outlook
Oct 7, 2014 03:58PM Fed's Dudley Sees Mid-2015 Rate Hike as 'Reasonable'
Oct 7, 2014 03:58PM Fed's Dudley Sees Mid-2015 Rate Hike as 'Reasonable'
Oct 7, 2014 09:01AM IMF Cuts Global Growth Outlook for 2015 to 3.8%
Oct 6, 2014 07:52AM Petrobras (PBR), Vale (VALE), Others on Watch Following Brazil Elections
Oct 3, 2014 08:35AM Nonfarm Payrolls Expanded 248K in Sept., Outpacing Views on Services, Retail, and Health Care Gains
Oct 2, 2014 10:30AM Natural Gas Inventory 112 bcf vs 106 bcf Expected
Oct 2, 2014 07:47AM ECB Maintains Benchmark Rate at 0.05%; Deposit Facility Remains at (0.2%) (FXE)
Oct 2, 2014 07:47AM ECB Maintains Benchmark Rate at 0.05%; Deposit Facility Remains at (0.2%) (FXE)
Oct 2, 2014 06:52AM Crude Slips Below $90/Barrel for First Time Since 2013 (USO) (OIL)
Oct 1, 2014 10:32AM UPDATE: Crude Inventory -1.4M Barrels vs 925K Expected
Oct 1, 2014 10:32AM UPDATE: Crude Inventory -1.4M Barrels vs 925K Expected
Sep 30, 2014 09:53AM UPDATE: September Chicago Purchasing Manager 60.5 vs 62 Expected
Sep 26, 2014 09:12AM UPDATE: PIMCO Total Return ETF (BOND) on Watch as Gross Moves to Janus (JNS)
Sep 26, 2014 09:12AM UPDATE: PIMCO Total Return ETF (BOND) on Watch as Gross Moves to Janus (JNS)
Sep 26, 2014 08:38AM U.S. GDP Rose 4.6% in Q2, Flat with Expectations; Personal Consumption, Private Investment Led Gains
Sep 25, 2014 11:23AM VIX Spikes as Markets Pull Back (SPY) (QQQ) (DIA) (VXX)
Sep 25, 2014 10:30AM Natural Gas Inventory 97 bcf vs 95 bcf Expected
Sep 25, 2014 06:56AM S&P Affirms Ratings of, Issues Commentary on Japan
Sep 23, 2014 09:12AM U.S. Home Prices Rose 0.1% in July, FHFA Says; Middle Atlantic, Mountain Drag on Results (XHB)
Sep 22, 2014 10:04AM UPDATE: U.S. Existing Home Sales Fell 1.8% to 5.05M in Aug.; South, West Pressure Gains (XHB)
Sep 18, 2014 08:52AM ECB Allots EUR 82.6B in First Targeted Longer-Term Refinancing Operation (FXE)
Sep 18, 2014 08:32AM Initial Jobless Claims Rose to 280K Last Week, Coming in Below Expectations
Sep 18, 2014 07:27AM China Home Prices Continue Slump Through August (FXI)
Sep 17, 2014 02:35PM Bank Stocks Gain Following FOMC Statement
Sep 17, 2014 10:38AM Moody's: U.S. Rating Outlook Remains Stable
Sep 12, 2014 09:16AM OPEC Daily Basket Price Stood at $95.35/Barrel (USO) (OIL)
Sep 12, 2014 08:40AM Advance U.S. Retail Sales Rose 0.6% in August, Flat with Expectations (XRT)
Sep 11, 2014 10:30AM Natural Gas Inventory 92 bcf vs 84 bcf Expected
Sep 11, 2014 08:39AM Initial Jobless Claims Rose More than Expected to 315K Last Week; California, New York Led Gains
Sep 11, 2014 06:37AM EU sanctions on Russia to enter into force tomorrow (RSX)
Sep 9, 2014 09:05AM Bank of England's Carney Hints at Spring 2015 Rate Increase (FXB)
Sep 5, 2014 09:43AM Achillion Pharma (ACHN), Gilead (GILD) Decline; Biotech Pressured
Sep 5, 2014 08:47AM Nonfarm Payrolls Rose 142K in August, Missing Expectations; Unemployment Rate Flat at 6.1%
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