| 2017-12-01 12:24:02|
BTC, CME… 12:24 12/01 12/01/17
On The Fly: Top stock stories at midday
Stocks are currently deep in negative territory after reports that former National Security Advisor Michael Flynn has plead guilty to lying during the FBI probe of his relationship with Russia. ABC News has said Flynn has agreed to cooperate with the FBI and would testify against the president. However, the averages are off their worst levels as the Senate is about to vote on its version of a tax bill and Majority Leader Mitch McConnell has said Republicans have the votes needed to pass it. ECONOMIC EVENTS: In the U.S., Markit's manufacturing PMI fell 0.7 points to 53.9 in the final print for November. This compares to 53.8 in the preliminary reading and 54.6 in October. The ISM manufacturing index dipped 0.5 points to 58.2 in November from 58.7 in October. Construction spending jumped 1.4% in October, marking a third straight monthly increase. In Asia, China's Caixin manufacturing PMI for November came in at 50.8, roughly in-line with expectations. In Europe, the final Eurozone manufacturing PMI for rose a tick to 60.1 from the 60 flash reading for November. COMPANY NEWS: The U.S. Commodity Futures Trading Commission noted that the Chicago Mercantile Exchange (CME) and the CBOE Futures Exchange (CBOE) self-certified new contracts for bitcoin futures products, and the Cantor Exchange self-certified a new contract for bitcoin binary options. CME Group announced that the initial listing of its Bitcoin futures contract will launch Monday, December 18, while CBOE said its impending launch date of Cboe bitcoin futures, which will trade on CFE under the ticker symbol 'XBT,' will be announced shortly. MAJOR MOVERS: Among the notable gainers following their earnings reports were Ambarella (AMBA), which jumped 17%, and Nutanix (NTNX), which rose 8%. Among the noteworthy losers following their earnings reports were Genesco (GCO), which fell 20%, and Ulta Beauty (ULTA), which dropped 8%. INDEXES: Near midday, the Dow was down 125.05, or 0.52%, to 24,147.30, the Nasdaq was down 71.91, or 1.05%, to 6,802.06, and the S&P 500 was down 18.10, or 0.68%, to 2,629.48.