FED BOTTOM LINE: Hawkish, no change, no help for markets !!! NO CHANGE: FED DOES NOTHING, STOCKS INSTANTLY FALLING!!!

1 minBusiness Insider‏@businessinsider

NO CHANGE: FED DOES NOTHING, STOCKS INSTANTLY FALLING [link to read.bi]

Excellent !! And as expected...thanks Louie...

euro falling too!!! [link to www.freestockcharts.com]

[link to www.marketwatch.com] Dow bellow 13000 now...

6 minzerohedge‏@zerohedge

FED SAYS IT `WILL PROVIDE ADDITIONAL ACCOMMODATION AS NEEDED', EXCEPTIONALLY LOW RATES AT LEAST THROUGH LATE 2014

23 szerohedge‏@zerohedge

June: "economy has been expanding moderately", July: "economic activity decelerated somewhat "

52 szerohedge‏@zerohedge

Fed not even extending ZIRP through 2015. Huge disappointment

1 minzerohedge‏@zerohedge

Wait until ECB disappoints tomorrow

This is getting interesting... this month and the next will be full of emotions!

7 szerohedge‏@zerohedge

With Ben out, stocks have soaring revenues and no fiscal cliff to look forward to

2:30p
U.S. stock indexes erase limited gains after Fed
By Kate Gibson Aug. 1, 2012, 2:30 p.m. EST NEW YORK (MarketWatch) -- U.S. stock indexes erased limited gains Wednesday after the Federal Reserve opted to stand pat on monetary policy. "If the economy doesn't improve by mid-September, the Fed will do more QE I have little doubt. While the Fed remains the topic of... Full Story
Dow Jones Industrial Average/quotes/zigman/627449 DJIA 12,996.04 -12.64 -0.10% S&P 500 Index/quotes/zigman/3870025 SPX 1,378.27 -1.05 -0.08% See All Quotes (3) 2:27p
Fed stands pat as it frets weaker economy
By Greg Robb The Fed Aug. 1, 2012, 2:27 p.m. EST The Federal Reserve kept policy unchanged despite a weaker outlook. The move was a surprise. The consensus was the Fed would at least pledge to hold its benchmark rate lower for longer. Full Story
S&P 500 Index/quotes/zigman/3870025 SPX 1,378.27 -1.05 -0.08% See All Quotes (1) 2:20p
10-year Treasury yields 1.49% vs. 1.50%
10 Year Treasury Note/quotes/zigman/4868283/delayed 10_YEAR 1.48 +0.01 +0.88% See All Quotes (1) 2:19p
Treasurys pare losses after Fed
10 Year Treasury Note/quotes/zigman/4868283/delayed 10_YEAR 1.48 +0.01 +0.88% See All Quotes (1) 2:19p
Nasdaq Composite down 19.11 points at 2,920.41
NASDAQ Composite Index/quotes/zigman/123127 COMP 2,931.01 -8.51 -0.29% See All Quotes (1) 2:18p
Euro slips after Fed; buys $1.226 vs. $1.225 [link to www.marketwatch.com]

Knight Capital shares sink after algorithm glitch
NYSE reviewing potentially erroneous trades in 140 stocks! NEW YORK (MarketWatch) — Shares of Knight Capital Group Inc. sank 22% on Wednesday after the New Jersey-based firm said that its market-making unit suffered “a technology issue” that affected the routing of around 150 stocks on the New York Stock Exchange.

NYSE Euronext /quotes/zigman/421745/quotes/nls/nyx NYX -2.72% , which operates the New York Stock Exchange, said it was reviewing potentially erroneous trades in 140 symbols that took place between 9:30 a.m. and 10:15 a.m. Eastern.

Shares of Jersey City, N.J.-based Knight Capital /quotes/zigman/378317/quotes/nls/kcg KCG -23.04% fell 22% to $8.01 in afternoon trading. They hit an intraday low of $7.60.

Knight Capital is one of the handful of designated market makers on the NYSE which are responsible for maintaining a fair and orderly market.

“An initial review by Knight indicates that a technology issue occurred in the company’s market-making unit related to the routing of shares of approximately 150 stocks to the NYSE,” said Kara Fitzsimmons, a spokeswoman for Knight Capital, in an emailed statement. “Knight notified its market-making clients this morning to route listed orders away.”
[link to www.marketwatch.com]

[link to www.nanex.net]

watching gold jump back and forth for a bought an hour,looks like a battle.

[link to www.netdania.com]

Yes it's crazy!

2 minzerohedge‏@zerohedge

Gringotts will not be happy with Potter if he doesn't defend 13K

1 minzerohedge‏@zerohedge

Probably no sense in asking KCG what the closing market fixing is

1,2228...

zerohedge‏@zerohedge

Can Knight hit a few millions bids in gold please?

1,2221... Business Insider‏@businessinsider

The Euro Is Getting Pummeled [link to read.bi]

13 szerohedge‏@zerohedge

IMF CALLS ON JAPAN TO EASE MONETARY POLICY TO BEAT DEFLATION. the 39484758th time will be the charm

33 szerohedge‏@zerohedge

KCG LOD

41 sBusiness Insider‏@businessinsider

The Fed May Have Included An Old Greenspan-Era Code In Its Announcement [link to read.bi]

zerohedge‏@zerohedge

JAPANESE BANKS EXPOSED TO SPIKE IN BOND YIELDS, IMF SAYS but not the US.

1 minzerohedge‏@zerohedge

Knight: It Was Us [link to www.securitiestechnologymonitor.com]

Market maker Knight Capital said it incorrectly sent orders for 150 symbols to the New York Stock Exchange at the outset of trading Wednesday, due to a “technical issue.”



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By 2 p.m., the NYSE was reviewing trading in 147 NYSE stocks and 13 NYSE MKT stocks.

Trading in all the symbols, which included Citigroup, Ford Motor, Alcoa, Nokia and other mainstays of the Big Board, continued throughout the day. No trades had been broken as of 2:15 p.m.

If any erroneous trades get broken as a result of the routing, they become the responsibility of Knight Capital.

The trades are being reviewed by both Knight Capital and the New York Stock Exchange. That review likely will last days.

Knight, in a statement, said:

An initial review by Knight indicates that a technology issue occurred in the company’s market-making unit related to the routing of shares of approximately 150 stocks to the NYSE. Knight notified its market-making clients this morning to route listed orders away. The company’s OTC securities and trading in its other businesses are not affected. The company continues to review internally.

That Knight Capital should be the source of the latest malfunction on increasingly high-speed automated markets is something of a turnabout.

The market maker in July said it is taking a $35.4 million pre-tax charge against earnings in its second quarter, due to the delayed and confused opening of trading of Facebook shares. In that initial offering of stock on the Nasdaq Stock Market, many confirmations of transactions did not get relayed from its IPO Cross system for hours.

The charge cuts net income to $3.3 million in the quarter, down from $17.6 million.

“We are evaluating all legal rights and remedies in connection with the Facebook IPO,’’ said chairman and chief executive Thomas M. Joyce, after that technical drubbing.

Nasdaq, for its part, has set aside $62 million to compensate market makers and other firms in that incident. But UBS this week said it is seeking $357 million of payback.

The disruption of trading occurred on the same day that NYSE Euronext launched its Retail Liquidity Program, which offers price improvement to retail investors in off-exchange trading.

But that did not affect the unusually high volume of orders that came into the NYSe at the outset of trading Wednesday. Where the market usually handles trading of about 100 million shares at the open, that leaped to 300 million shares.

That leap is attributed to the mistaken routing of orders from Knight.

The flood of orders did not disrupt the NYSE’s market center, which operates out of a data center in Mahwah, N.J.

“Our systems operated as they should,’’ spokesman Rich Adamonis said.

Business Insider‏@businessinsider

TRADERS ARE GOING TO FLIP OUT: New York Stock Exchange To Cancel Trades Associated With 6 Stocks After Glitch [link to read.bi]

45 szerohedge‏@zerohedge

It would be great if the NYSE's market status update website did not crash

3 minzerohedge‏@zerohedge

Market is now up because it was briefly down, which means more QE