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U.S. stock market report
1725 ET 16Sept2009 Earnings diary for Thursday, Sept. 17
Companies expected to report quarterly results on Thursday include U.S. economic activity bellwether FedEx Corp, mobile device maker Palm Inc and specialty retailer Pier 1 Imports Inc.
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1705 ET 16Sept2009 Wall St up for third straight day on economic optimism
U.S. stocks rose for a third day on Wednesday, hitting fresh 2009 highs in a broad-based rally following economic data that suggested a stronger-than-anticipated global recovery.
The Dow Jones industrial average was up 108.30 points, or 1.12 percent, at 9,791.71. The Standard & Poor's 500 Index was up 16.13 points, or 1.53 percent, at 1,068.76. The Nasdaq Composite Index was up 30.51 points, or 1.45 percent, at 2,133.15.
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1441 ET 16Sept2009 Sept VIX futures contract settles at 23.64
The CBOE Volatility Index, Wall Street's favorite barometer of investor sentiment, slipped 0.04 percent to 23.42 after hitting a session high of 23.56 this morning. In volatility products, the September VIX futures contract settled at 23.64.
The October VIX futures is now the front-month contract and traded slightly lower at 26.20, still carrying a premium to the spot VIX, suggesting additional volatility ahead.
November and December futures were at 27.50 and 27.60, respectively. Given a benign equity market, the high open interest in the October VIX futures certainly suggest downside pressure on VIX as these market participants appear to have paid an elevated price relative to actual volatility levels for this insurance, said Larry McMillan, president of McMillan Analysis Corp in a note.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1432 ET 16Sept2009
NY AG Cuomo subpoenas 5 BofA directors
Ratcheting up pressure on the largest U.S. bank, New York Attorney General Andrew Cuomo has subpoenaed five current or former Bank of America Corp directors to learn what they knew about Merrill Lynch & Co's problems as the companies prepared to merge.
Cuomo issued the subpoenas Wednesday morning, seeking information concerning knowledge of Merrill's mounting losses, the $5.8 billion of authorized bonus payouts, and how much should be disclose to shareholders, according to a person familiar with the probe.
The person requested anonymity because the probe is ongoing. Bank of America and Cuomo's office declined to comment.
For details, see
Shares of BofA, a Dow component, rose 1.9 percent to $17.10.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Real-time Equity news
U.S. stock market report
1725 ET 16Sept2009 Earnings diary for Thursday, Sept. 17
Companies expected to report quarterly results on Thursday include U.S. economic activity bellwether FedEx Corp, mobile device maker Palm Inc and specialty retailer Pier 1 Imports Inc.
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1705 ET 16Sept2009 Wall St up for third straight day on economic optimism
U.S. stocks rose for a third day on Wednesday, hitting fresh 2009 highs in a broad-based rally following economic data that suggested a stronger-than-anticipated global recovery.
The Dow Jones industrial average was up 108.30 points, or 1.12 percent, at 9,791.71. The Standard & Poor's 500 Index was up 16.13 points, or 1.53 percent, at 1,068.76. The Nasdaq Composite Index was up 30.51 points, or 1.45 percent, at 2,133.15.
Reuters Messaging: rodrigo.campos.reuters.com@reuters.net
1441 ET 16Sept2009 Sept VIX futures contract settles at 23.64
The CBOE Volatility Index, Wall Street's favorite barometer of investor sentiment, slipped 0.04 percent to 23.42 after hitting a session high of 23.56 this morning. In volatility products, the September VIX futures contract settled at 23.64.
The October VIX futures is now the front-month contract and traded slightly lower at 26.20, still carrying a premium to the spot VIX, suggesting additional volatility ahead.
November and December futures were at 27.50 and 27.60, respectively. Given a benign equity market, the high open interest in the October VIX futures certainly suggest downside pressure on VIX as these market participants appear to have paid an elevated price relative to actual volatility levels for this insurance, said Larry McMillan, president of McMillan Analysis Corp in a note.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1432 ET 16Sept2009
NY AG Cuomo subpoenas 5 BofA directors
Ratcheting up pressure on the largest U.S. bank, New York Attorney General Andrew Cuomo has subpoenaed five current or former Bank of America Corp directors to learn what they knew about Merrill Lynch & Co's problems as the companies prepared to merge.
Cuomo issued the subpoenas Wednesday morning, seeking information concerning knowledge of Merrill's mounting losses, the $5.8 billion of authorized bonus payouts, and how much should be disclose to shareholders, according to a person familiar with the probe.
The person requested anonymity because the probe is ongoing. Bank of America and Cuomo's office declined to comment.
For details, see
Shares of BofA, a Dow component, rose 1.9 percent to $17.10.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.