Thursday, November 11, 2010

DailyMarkets.com - 15 Facts Revealing Just How Obscene The U.S. National Debt Has Become

DailyMarkets.com - 15 Facts Revealing Just How Obscene The U.S. National Debt Has Become


15 Facts Revealing Just How Obscene The U.S. National Debt Has Become

Posted: 11 Nov 2010 03:35 AM PST

In a surprise move, the co-chairs of Barack Obama’s national debt commission released their preliminary proposals to the media on Wednesday.  The proposals are actually quite modest – they recommend that nothing be implemented until 2012 because of the weak economy, and their plan would not balance the federal budget until 2037 – but almost as soon as it was released Democrats and Republicans both started screaming bloody murder about how they would not support it.  The truth is that … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Dollar Down Vs. Most Rivals As G-20 Summit Gets Underway

Posted: 11 Nov 2010 03:16 AM PST

Forex Pros – The U.S. dollar was down against most of its major counterparts on Thursday, as investors shifted focus to the Group of 20 world economic summit, which got underway in Seoul.

During European morning trade, the greenback was up against the euro, with EUR/USD falling 0.21% to hit 1.3754.

Earlier in the day, official data showed that Greece's unemployment rate increased to a record high in August, raising further concerns over sovereign debt problems in peripheral euro zone … [visit site to read more] or compare Best Credit Cards and Best CD Rates


3 Quick-And-Easy Ways To Profit From The Rebound In Natural Gas Prices

Posted: 11 Nov 2010 02:50 AM PST

I love autumn.  The leaves start to turn color, and the first hint of winter is invigorating. It is also a great time to peruse each of the financial markets for the shorter-term, seasonal trades that are always lurking – if you know where to look, that is.

One place that’s worth looking at right now is the global currency markets, where a major war is currently being waged. As part of the so-called “race to the bottom,” the U.S. dollar is down 14% since June. This drop in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stocks To Watch On Thursday: Adobe, Cisco, Siemens, Aegon, Credit Agricole, Rolls Royce, BT, Repsol

Posted: 11 Nov 2010 02:30 AM PST

Rolls Royce (RR.L) – Europe's aviation regulator said fire from an oil leak was the likely cause of last week's engine failure of a Qantas A380 plane and ordered fresh inspections for superjumbos using co.'s engines. (RTRS)

UK

3I – Co.'s NAV GBP 3.30 per share, and H1 dividend GBP 0.012 per share vs. Prev. GBP 0.01. Co. said there is increased momentum throughout the business. (Sources)

BT (NYSE:BT) – Co.'s Q2 adjusted EBITDA GBP 1.45bln vs. Exp. GBP 1.42bln, and Q2 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


European Stocks Mixed Ahead Of G-20; DAX Up 0.14%

Posted: 11 Nov 2010 02:22 AM PST

Forex Pros – European stocks were mixed on Thursday, as losses in the financial sector overshadowed advances in the commodity sector, while U.S. futures indexes pointed to a lower open on Wall Street.

During European morning trade, the EURO STOXX 50 fell 0.33%; France's CAC 40 declined 0.24%; while Germany’s DAX gained 0.14%.

Shares in the financial sector weighed on markets ahead of the Group of 20 world economic summit in Seoul.

Shares in Italy's largest lender Unicredit tumbled … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Why You Should Skip The Rare Earths Sector For Now

Posted: 11 Nov 2010 01:40 AM PST

While most are anxiously anticipating a grand currency showdown at the G20 summit in Seoul this month, rare earths is bound to be one act of the G20 high Korean Drama amid the mounting worries among corporations and governments around the world about China's recent export restrictions and embargo,

Seventeen Metals Make the World Go Around

Rare earths or rare earth minerals / metals (REMs) represent a group of 17 metals. Among them, “heavy” rare earth such as europium — used to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/CHF Hits 2-day Low As Risk Appetite Wanes Ahead Of G-20

Posted: 11 Nov 2010 01:34 AM PST

Forex Pros – The U.S. dollar snapped 4-days of gains against the Swiss franc on Thursday, falling to hit a 2-day low, as risk appetite waned ahead of the Group of 20 world economic summit.

USD/CHF hit 0.9670 during European morning trade, the pair's lowest since November 9; the pair subsequently consolidated at 0.9698, shedding 0.10%.

The pair was likely to find support at 0.9586, the low of November 9, and resistance at 0.9823, the high of November 3.

Later in the day, G-20 leaders were … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/JPY Edges Down Ahead Of G-20 Economic Summit

Posted: 11 Nov 2010 01:03 AM PST

Forex Pros – The U.S. dollar edged down against the yen on Thursday, as markets focused on the Group of 20 economic summit expected to take place later in the day in South Korea.    

USD/JPY hit 82.03 during European morning trade, a daily low; the pair subsequently consolidated at 82.19, shedding 0.09%.

The pair was likely to find support at 80.53, the low of November 9, and resistance at 82.79, Wednesday's high.

Later in the day, G-20 leaders were to gather in … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBD/USD Hits 2-day High As Investors Eye Group Of 20 Meeting

Posted: 11 Nov 2010 12:30 AM PST

Forex Pros – The pound was up against the U.S. dollar on Thursday, rising to hit a fresh 2-day high, as investors awaited the outcome of the 2-day Group of 20 world economic summit. 

GBP/USD hit 1.6178 during European morning trade, the pair's highest since November 9; the pair subsequently consolidated at 1.6151, rising 0.18%.

Cable was likely to find support at 1.5960, Wednesday's low, and resistance at 1.6293, the high of November 5.

Later in the day, G-20 leaders were to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Asia Stocks Advance On Financials; Nikkei Up 0.31%

Posted: 10 Nov 2010 11:59 PM PST

Forex Pros – Asian stocks advanced on Thursday, as shares in the financial sector led markets higher, while shares in Japanese exporters were boosted as the yen weakened against the U.S. dollar.

During late Asian trade, Hong Kong’s Hang Seng Index jumped 1.25%, Australia's S&P/ASX 200 gained 0.61%, while Japan's Nikkei 225 Index gained 0.31%.

In Japan, shares in the financial sector led gains after global financial service provider Deutsche Bank upgraded Japan's banking industry … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Eases Up Ahead Of G-20 Summit

Posted: 10 Nov 2010 11:47 PM PST

Forex Pros – The euro eased up against the U.S. dollar on Thursday, as concerns over sovereign debt problems in peripheral euro zone nations eased and ahead of the Group of 20 summit expected to take place later in the day.

EUR/USD hit 1.3819 during European morning trade, a daily high; the pair subsequently consolidated at 1.3787, easing up 0.03%.

The pair was likely to find support at 1.3670, Wednesday's low, and resistance at 1.3973, the high of November 9.

Concerns over sovereign … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Thursday Market Analysis: Cisco Shares Fall 12%, US Dollar Mixed Against Major Currencies

Posted: 10 Nov 2010 11:20 PM PST

Equities

Asian markets were mixed on Wednesday.  The Nikkei climbed 1.4% to 9830, it's highest close since June.  Bank shares and exporters led the market higher.  On the losing side, the ASX fell .9%, and the Hang Seng lost .8%.  A report from China indicated that copper imports and oil shipments are down.

Unfortunately, European markets followed the losers, dropping more than 1%.  The FTSE fell 1.1% to 5807, while the CAC 40 dropped 1.4%.  Mining stocks fell more than 3% as … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Mid-Week Trading Outlook For Gold, SPY And US Dollar

Posted: 10 Nov 2010 11:08 PM PST

It has been a roller coaster week thus far as stocks and precious metals plunged on heavy selling volume on the back of a rising dollar, only to make a strong rebound Wednesday. While there has been significant intraday price movement, it was no surprise to us as we have been anticipating this pullback since discussing it in my Sunday Gold Newsletter.

Let's take a quick look at the charts…

US Dollar Daily Trading Chart

The past couple weeks the dollar has traded in a choppy … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Aggressive Growth Stock: Osiris Therapeutics

Posted: 10 Nov 2010 11:05 PM PST

Osiris Therapeutics, Inc. (NASDAQ:OSIR) has analysts buzzing over the prospects for the next couple of years. Estimates are surging after the third consecutive earnings surprise.
But is that enough of a reason to jump into this biotech company, which also carries a Zacks #1 Rank (Strong Buy)?
Company Description
Osiris Therapeutics is a stem cell company that develops products to treat inflammatory, autoimmune, orthopedic and cardiovascular conditions. The company has commercial rights to 2 drugs in … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bear Of The Day: Greatbatch, Inc. (GB)

Posted: 10 Nov 2010 11:05 PM PST

We downgrade our recommendation for Greatbatch (NYSE:GB) to Underperform following its lower-than-expected third quarter fiscal 2010 results and management’s tepid outlook. Both revenues and earnings for the quarter missed the Zacks Consensus Estimate, impacted by the decline in the company’s CRM/Neuromodulation business.
Greatbatch has narrowed its fiscal 2010 revenue and operating margin targets based on sluggish market conditions. The company’s cost-cutting and restructuring initiatives … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bull Of The Day: Biogen Idec (BIIB)

Posted: 10 Nov 2010 11:05 PM PST

Biogen Idec (NASDAQ:BIIB) reported third-quarter earnings of $1.33 per share, well above the year-ago figure of $1.20 and the Zacks Consensus Estimate of $1.09. Revenue increased 5% to $1.2 billion, with MS treatments Tysabri and Avonex being the primary growth drivers.
Based on third quarter results, Biogen’s new guidance for 2010 and the impact of the company’s recently announced restructuring plan, we are raising our earnings estimates for 2010 and 2011 by 16 and 65 cents, respectively. Key … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Momentum Stock: JAKKS Pacific, Inc.

Posted: 10 Nov 2010 11:05 PM PST

JAKKS Pacific, Inc. (NASDAQ:JAKK) recently jumped to a new multi-year high at $19.96 after reporting a 15% Q3 earnings surprise in late October. With a compelling valuation and rising estimates, this Zacks #1 rank stock provides plenty of upward momentum for investors to play with.
Company Description
JAKKS Pacific, Inc. designs and sells toys and consumer products. The company was founded in 1995 and has a market cap of $528 million.
With the global economy rebounding from the crippling recession … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Growth & Income Stock: Bancolombia S.A.

Posted: 10 Nov 2010 11:05 PM PST

With BRIC countries all the rage these days, investors often overlook other strong emerging markets. Through free market reforms and a stable political climate, Colombia has been one of Latin America’s strongest economies over the last several years.
Bancolombia (NYSE:CIB) is Colombia’s largest bank and stands to benefit from continued economic growth. The company recently reported a strong third quarter marked by solid loan demand and improving credit trends.
Despite a nice run up in the share … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – AUD/USD Down On Jobs Data

Posted: 10 Nov 2010 11:00 PM PST

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Thursday after the release of Australian data on Unemployment Rate.

AUD/USD was trading at 1.0043, down 0.10% at time of writing.

The pair was likely to find support at 0.9976, Wednesday's low, and resistance at 1.0174, Tuesday's high.

Earlier in the day, official data showed that Australia's unemployment rate rose unexpectedly to a seasonally adjusted 5.40% last month from 5.10% in the preceding month.

Analysts … [visit site to read more] or compare Best Credit Cards and Best CD Rates


General Motors Gathers Momentum For Its IPO As It Reports $2 Billion Q3 Profit

Posted: 10 Nov 2010 10:59 PM PST

General Motors Co. reported a profit for the third straight quarter yesterday (Wednesday) and said it is on a path this year to produce its first annual profit since 2004, gathering critical momentum for its planned initial public offering (IPO) next week.

The world’s largest automaker said profits rose to $2.16 billion in the third quarter and revenue rose 20% to $34.1 billion. The company reported earnings per share of $1.20, compared to a loss of 73 cents a share in July through … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Crude Oil Boosted By Bullish Inventory Report, Gold Rises Back Over $1400 As Traders Buy The Dips

Posted: 10 Nov 2010 10:51 PM PST

Commodities – Energy
Crude Oil Boosted by Bullish Inventory Report
Crude Oil (WTI) – $88.24 // $0.43 // 0.49%
Commentary: Crude oil rose for the seventh time in eight sessions as an extremely bullish inventory report offset early weakness in U.S. equity markets. Crude settled at $87.81, up $1.09, or 1.26%, a new 25-month high, and decisively above the previous high for the year at $87.15. Prices are now in the process of breaking out of a 13-month range, which is extremely significant.
There … [visit site to read more] or compare Best Credit Cards and Best CD Rates


US Dollar Index: High Probability Of Forming A Higher Low

Posted: 10 Nov 2010 10:41 PM PST

The DXY's (US Dollar Index) recovery completed the initial correction target before reversing course. The late October highs were tested before bearish diverging hourly studies took hold. This triggered a reversal that wiped out most of the day's gains, leaving a daily doji hammer formation. However, since it took only 4 days to match the previous 6-day decline, there is a high probability of forming a higher low within the next few days. While previous 20-day moving average … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Watch Closely For Further Upside Moves In Exxon-Mobil

Posted: 10 Nov 2010 10:22 PM PST

I admit that the most recent move higher in Exxon-Mobil (NYSE:XOM) – a leading bellweather stock to watch – has been impressive, taking price up into weekly resistance.

Let's move our way up from the daily chart to view the weekly level and find out what might be the next potential move for XOM.

I've written previously about the daily chart Triangle Pattern breakout at the $60 level, and this week hit the upside price pattern projection target as drawn.

The general rule … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Up During The Asian Session

Posted: 10 Nov 2010 10:15 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Thursday.

EUR/USD was trading at 1.3783, up 0.00% at time of writing.

The pair was likely to find support at 1.3672, Wednesday's low, and resistance at 1.4085, Monday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.13% to hit 0.8538 and EUR/JPY falling 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/USD Up During The Asian Session

Posted: 10 Nov 2010 09:15 PM PST

Forex Pros – The British Pound was higher against the U.S. Dollar on Thursday.

GBP/USD was trading at 1.6142, up 0.13% at time of writing.

The pair was likely to find support at 1.5954, Tuesday's low, and resistance at 1.6215, Monday's high.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.08% to hit 0.8544 and GBP/JPY rising 0.08% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – AUD/USD Down During The Asian Session

Posted: 10 Nov 2010 08:15 PM PST

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Thursday after the release of Australian data on Unemployment Rate.

AUD/USD was trading at 1.0051, down 0.02% at time of writing.

The pair was likely to find support at 0.9976, Wednesday's low, and resistance at 1.0174, Tuesday's high.

Earlier in the day, official data showed that Australia's unemployment rate rose unexpectedly to a seasonally adjusted 5.40% last month from 5.10% in the preceding month.

Analysts … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Is The U.S. A Currency Manipulator?

Posted: 10 Nov 2010 08:08 PM PST

The U.S. dollar has depreciated by about 30% over the last 8 years, and during that time period U.S. exports as a share of GDP increased from about 2.2% in 2002 to 3.3% in mid-2008, and then fell through early 2009 as a result of the recession and a stronger dollar (see chart).  Since early 2009, the dollar’s decline has continued, and exports as a share of GDP have been increasing. Is the U.S. guilty of manipulating its currency to increase … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Three ETFs To Avoid Increased Margin Requirements On Commodities

Posted: 10 Nov 2010 07:17 PM PST

On Wednesday, the CME group raised margin requirements on trading soybeans futures contracts, shortly after the Chicago exchange increased margin requirements to curb silver and cotton trading, further boosting the appeal of exchange traded funds [[ETFs]] which enable investors to gain exposure to these commodities.
Margin requirements are the minimum deposit, or cash, that a trader is required to put with up an exchange to cover inherent risks involved with trading commodities.  When … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – NZD/USD Up During The Asian Session

Posted: 10 Nov 2010 07:15 PM PST

Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Thursday.

NZD/USD was trading at 0.7862, up 0.42% at time of writing.

The pair was likely to find support at 0.7738, Tuesday's low, and resistance at 0.7940, Monday's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.31% to hit 1.2797 and EUR/NZD falling 0.24% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/JPY Down During The Asian Session

Posted: 10 Nov 2010 06:30 PM PST

Forex Pros – The Euro was lower against the Japanese Yen on Thursday.

EUR/JPY was trading at 113.38, down 0.01% at time of writing.

The pair was likely to find support at 111.72, Tuesday's low, and resistance at 114.30, Monday's high.

Meanwhile, the Euro was up against the U.S. Dollar and down against the British Pound, with EUR/USD gaining 0.24% to hit 1.3816 and EUR/GBP falling 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Singapore Stock Market Update For Thursday 11 November

Posted: 10 Nov 2010 05:42 PM PST

Morning Highlights

Singapore market started the day flat, with STI opened at 3,290.11. MOst of the other Asian stock markets are mixed and trading in relatively tight ranges as many investors are looking to Chinese economic data due later for cues…
NEW IPO : STX OSV Offer Price : S$0.79
Commence Trading : 12 Nov 2010
Underwriters : Goldman Sachs
Offer Size : 325,646,000
Watch Out For Economic News Today

China Oct CPI (China’s October consumer price index jumps 4.4% from year earlier, … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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