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Showing posts with the label From the Desk of Peter Schacknow

From the Desk of Peter Schacknow, CNBC Senior Producer August 05, 2013: Morning Market Brief August 05, 2013: Investors left to ponder next Fed move

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Investors left to ponder next Fed move Peter Schacknow, Senior Producer, CNBC Breaking News Desk With the July employment report and the latest Fed meeting now in the books, U.S. investors face several weeks of pondering over the issue of the so-called "taper" and whether the Fed will pull the trigger at its September meeting. Despite the uncertainty, stocks are coming off another positive week, with the Dow having chalked up its sixth straight weekly gain, and both the Dow and S&P 500 closing at record highs once again Friday. The week begins with just one economic report, with the Institute For Supply Management out with its non-manufacturing index for July at 10 a.m. ET. The measure of the U.S services economy is expected to come in at 53.3, compared to 52.2 in June. The pace of corporate earnings reports slows down this week, with Tyson Foods (TSN) among the few out this morning. Dun & Bradstreet (DNB), Unum Group (UNM), and Vornado Real

From the Desk of Peter Schacknow, CNBC Senior Producer - Morning Brief July 31, 2013: Wall Street anxiously awaits Fed statement.

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Wall Street anxiously awaits Fed statement Peter Schacknow, Senior Producer, CNBC Breaking News Desk The Dow and S&P 500 have essentially run in place for two weeks, waiting for today's Fed policy statement. That statement will be out at 2pm ET, and investors will no doubt be searching for clues as to when and how the central bank will scale back and eventually exit its accommodative monetary policy. The Street will have plenty to occupy its attention ahead of the Fed statement, with the latest ADP and GDP reports out this morning. The ADP report on private sector employment, due out at 8:15 a.m. ET, is expected to show that the U.S. economy added 183,000 jobs in July, following 188,000 in June. At 8:30 a.m. ET, the first estimate of second quarter GDP is expected to show the U.S. economy growing at a 0.9 percent annual rate, following a 1.8 percent rate during the first quarter. At 9:45 a.m. ET, the Chicago Purchasing Manager's Index, a measure of Mi

From the Desk of Peter Schacknow, CNBC Senior Producer - Today's Morning Brief July 30, 2013.

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Wall Street caution still evident ahead of Fed meeting Peter Schacknow, Senior Producer, CNBC Breaking News Desk U.S. stocks come off yet another day of modest movement, with Fed policymakers set to begin a two-day meeting today. In an indication of just how strong the market has been during July, Monday's nearly 37 point loss for the Dow was its biggest since July 2. While investors await the Fed's policy statement Wednesday, they'll have a handful of economic reports to consider in the day ahead. The S&P/Case-Shiller report on home prices for May will be out at 9 a.m. ET, with economists looking for a 12.4 percent year-over-year increase in prices for the report's 20-city index. The Conference Board issues its July Consumer Confidence Index at 10 a.m. ET, with forecasts calling for a reading of 81.5 compared to June's 81.4. Dow components Merck (MRK) and Pfizer (PFE) lead the list of this morning's corporate earnings reports, with

From the Desk of Peter Schacknow, CNBC Senior Produce, Today's Market Analysis. July 29, 2013.

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Investors cautious ahead of Fed meeting Peter Schacknow, Senior Producer, CNBC Breaking News Desk The Dow and S&P 500 come off a week of very little movement, as investors await this week's meeting of Federal Reserve policymakers as well as Friday's July employment report. The Dow rose 15 points for the week, while the S&P 500 was virtually unchanged. With three trading days to go in July, the S&P 500 is on pace for its biggest monthly gain since October 2011. A busy week for economic numbers will get off to a relatively slow start, with just one economic report set for today. The National Association of Realtors will issue its June report on pending home sales at 10 a.m. ET, after they rose to their highest level in more than six years during May. It's a similar story where earnings are concerned, with another busy week starting with a light Monday calendar. Hertz Global (HTZ), Cal-Maine Foods (CALM), Lowes (L), Roper Industries (ROP), an

From the desk of Peter Schacknow, CNBC Senior Producer Market Analysis July 26, 2013.

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Peter Schacknow, Senior Producer, CNBC Breaking News Desk Dow, S&P 500 seek fifth week of gains The Dow and S&P 500 could post their fifth week of gains with a positive session today, following Thursday's modest gains. Both are near breakeven for the week, while the Nasdaq Composite is coming off its best session in two weeks. The three benchmarks have nearly identical gains for the year-to-date, with each rising roughly 19 percent. Investors will only have one economic report to consider as the week concludes, with the University of Michigan issuing its final July consumer sentiment index at 9:55 a.m. ET. Economists look for the index to come in at 84.0, compared to the preliminary July reading of 83.9 and June's final 84.1. The pace of earnings slows down somewhat today, with just about half the S&P 500 having reported following Thursday's after-the-bell flurry. This morning's reports include the latest numbers from Tyco (TYC), Wey

From the Desk of Peter Schacknow, CNBC Senior Producer - Morning Briefing - July 22, 2013: Dow, S&P 500 seek to continue summer streak

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Dow, S&P 500 seek to continue summer streak Peter Schacknow, Senior Producer, CNBC Breaking News Desk The Dow and the S&P 500 are coming off four straight weeks of gains, despite a mixed Friday, and the S&P 500 is currently on pact for its best monthly gain since October of 2011. Quarterly earnings are likely to be the key influence on the markets, with the busiest part of earnings season occurring this week and next. Today marks the first of three straight days containing economic reports on the housing market, beginning with June existing home sales from the National Association of Realtors at 10 a.m. ET. Economists are looking for a 1.9 percent increase in sales to an annual rate of 5.28 million, compared to May's 4.2 percent advance. Dow component McDonald's (MCD) is the most prominent of today's earnings reports, due out at 8 a.m. ET. Other reports scheduled for this morning include Hasbro (HAS), Halliburton (HAL), Gannett (GCI), and

From the Desk of Peter Schacknow, CNBC Senior Producer - Evening Brief July 19, 2013: US stocks on pace for fourth winning week

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US stocks on pace for fourth winning week Peter Schacknow, Senior Producer, CNBC Breaking News Desk A positive day today, or even a mildly negative one, would give the Dow, the S&P 500, and the Nasdaq their fourth consecutive week of gains, with July on track to perhaps chalk up the biggest monthly gains of 2013 for stocks. At the moment, the S&P 500 has its biggest gain for any single month since October 2011. The Street's positive mood, however, could be dampened by disappointing earnings reports from Google and Microsoft. Those earnings may get even more focus than usual today, given the lack of any economic data on the calendar and no Ben Bernanke testimony before Congress after two days of appearances on Capitol Hill. The pace of earnings slows down a bit today, but we will get the latest numbers from Dow component General Electric (GE), as well as Baker Hughes (BHI), Honeywell (HON), Interpublic Group (IPG), LabCorp (LH), Schlumberger (SLB), Wh

From the Desk of Peter Schacknow, CNBC Senior Producer July 18, 2013: Investors Getting Bernanke Message

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Investors getting Bernanke message Peter Schacknow, Senior Producer, CNBC Breaking News Desk Wall Street gets another chance today to show that Fed chairman Ben Bernanke's messages about the central bank's quantitative easing program are coming through. Wednesday's action may have most notable for the lack of reaction to Bernanke's testimony before the House Financial Services Committee, which he'll repeat today before the Senate Banking Committee. Stocks barely moved and ended the session with modest gains. Bernanke's testimony, followed by the usual Q&A session, will begin at 10 a.m. ET. The testimony will be identical to yesterday's, while the questions, of course, may not be. Several economic reports are also on the Street's radar this morning, starting with the Labor Department's weekly initial jobless claims report at 8:30 a.m. ET. Economists are looking for claims of 340,000 for last week, down from 360,000 the prio

Stocks Seek Rebound After Tuesday Drop: From The Desk Of Peter Schacknow, Senior Producer; July 17, 2013.

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Stocks seek rebound after Tuesday drop Peter Schacknow, Senior Producer, CNBC Breaking News Desk The major U.S. stock averages come off their first across-the-board losses in two weeks, although the drops for the Dow, S&P 500, and Nasdaq were modest. Nonetheless, the Tuesday declines ended 8-session win streaks for the S&P 500 and the Nasdaq Composite, as investors anticipate more earnings and two Congressional appearances this week by Fed chairman Ben Bernanke. Bernanke's Congressional testimony begins today as he appears before the House Financial Services Committee at 10 a.m. ET. However, the Street will get an early look at his prepared remarks, which are scheduled for release at 8:30 a.m. ET. Treasury Secretary Jack Lew is also on Wall Street's radar, as he kicks off CNBC's Delivering Alpha event with a speech at 8:25 a.m. ET. Other notable guests during the event include interviews with investors John Paulson and Nelson Peltz. Banks h

Wall Street Focusing On Dovish Bernanke Comments: From the Desk of Peter Schacknow, Senior Producer, CNBC; Breaking News Desk.

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Wall Street Focusing On Dovish Bernanke Comments Peter Schacknow, Senior Producer, CNBC Breaking News Desk U.S. stocks are poised for a higher open this morning, after Fed Chairman Ben Bernanke said the economy still needs the Fed's accommodative monetary policies. His comments in a speech after yesterday's close immediately pushed stock futures higher, and they'll continue to be a focus this morning. The markets will have a few economic reports to consider as well, including the Labor Department's weekly report on initial jobless claims at 8:30 a.m. ET. Economists expect 335,000 new claims for the week ending July 6, down from 343,000 the week before. We'll also get June figures on import and export prices at 8:30 a.m. ET. At 2 p.m. ET, the Treasury reports the monthly budget statement for June, expected to show a rare surplus. Economists are looking for a $40.0 billion surplus for the month, compared to a $59.7 billion deficit in the same month