Tuesday, November 16, 2010

DailyMarkets.com - Euro Debt Crisis Ready To Spread To Ireland

DailyMarkets.com - Euro Debt Crisis Ready To Spread To Ireland

Euro Debt Crisis Ready To Spread To Ireland

Posted: 16 Nov 2010 03:50 AM PST

Ireland’s reeling banking system, and the government’s reluctance to accept outside help, is threatening to reignite the European debt crisis that nearly led to the demise of the European Union (EU) and its currency last spring.

EU officials are trying to persuade Irish officials to shore up the country’s devastated banking sector with a possible $100 billion (73.5 billion euros) aid package as Irish policymakers continue to insist that the financially troubled nation doesn’t require a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Caterpillar Expands Into Mining Sector With Bucyrus Acquisition

Posted: 16 Nov 2010 03:35 AM PST

Caterpillar Inc. (NYSE:CAT), the world’s leading manufacturer of construction equipment, yesterday (Monday) said it would pay $8.6 billion for Bucyrus International Inc. (NASDAQ:BUCY) – a maker of large-scale surface and underground mining machinery.

Caterpillar said in a statement the deal would allow the company to continue its expansion into mining and gain from the “robust long-term outlook for commodities.” The company is betting that emerging markets’ growth will “push demand” for coal … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Fed Openly Printing Money Out Of Thin Air Whenever It Wants – How Did We Get To This Point?

Posted: 16 Nov 2010 03:35 AM PST

Ben Bernanke and the rest of the folks over at the Federal Reserve did not just wake up one day and decide that they wanted to start printing hundreds of billions of dollars out of thin air.  The truth is that the economic forces that have brought us to this point have taken decades to develop.  In the post-World War 2 era, when the U.S. economy has fallen into a recession, either the Federal Reserve would lower interest rates or the U.S. government would indulge in even more deficit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stocks To Watch On Tuesday: Berkshire Hathaway, Bank Of New York Mellon, Caterpillar, Bucyrus, EMC, Isilon, Genzyme, BHP Billiton, AstraZeneca, Deutsche Bank, UBS

Posted: 16 Nov 2010 03:21 AM PST

BHP Billiton (NYSE:BHP) – Co. may boost the amount of its share-buyback plan and target smaller acquisitions. (WSJ)

UK

AstraZeneca (NYSE:AZN) – Co. is looking to sell its Swedish unit, Astra Tech, for approximately USD 2bln, according to sources. (Sources)

Xstrata – Co. will resume mining at its idled Sinclair nickel mine in Australia shortly. (RTRS)]

Vedanta – Co. will put the USD 1.1bln proceeds from the listing of Co's Konkola Resources unit towards capital expenditure. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Support Levels For Gold & Silver As They Pullback After Fantastic Gains

Posted: 16 Nov 2010 03:20 AM PST

Gold and Silver are likely in a corrective state after fantastic gains in the late summer and early fall. Where might we expect some support? Take a look at the chart below which shows Gold at the top and Silver at the bottom.

Gold has lateral support at $1325. Trendline support will hit $1300 at the end of this month and the 100-day moving average will be slightly below that. Over the next few days and weeks, we'll focus on $1300 to $1325.

Meanwhile, Silver has lateral support … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: Eurozone CPI

Posted: 16 Nov 2010 02:07 AM PST

EZ Core CPI y/y came in at 1.1%, stronger than the 1.0% expected.
CPI m/m came in at 0.4%, stronger than the 0.3% expected. Y/y came in at 1.9% as … [visit site to read more] or compare Best Credit Cards and Best CD Rates

German ZEW Economic Sentiment Rises More-than-expected

Posted: 16 Nov 2010 02:06 AM PST

German ZEW economic sentiment rises more-than-expected

Forex Pros – German economic sentiment rose more-than-expected in November, turning positive for the first time in three months, data showed on Tuesday.

In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment rose to 1.8 in November, after falling to -7.2 in October.

Analysts had expected the index to advance to -6.0 in November.

On the index, a level above 0.0 indicates optimism; a level … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Mixed Vs. Rivals After Dovish Fed Comments

Posted: 16 Nov 2010 02:06 AM PST

Forex Pros – The U.S. dollar was mixed against its major counterparts on Tuesday, after New York Fed President William Dudley said the need to exit from current U.S. monetary policies could be “years away”.

During European morning trade, the greenback was down against the euro, with EUR/USD climbing 0.13%% to hit 1.3604.

Earlier in the day, data showed that the ZEW index of German consumer sentiment unexpectedly jumped in November. Meanwhile, a separate report showed that consumer price … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: Eurozone ZEW

Posted: 16 Nov 2010 02:05 AM PST

EZ ZEW Economic Sentiment came in at 13.8, stronger than the 2.0 expected.
More positive news out of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.K. Consumer Price Inflation Rises Unexpectedly

Posted: 16 Nov 2010 01:38 AM PST

Forex Pros – Consumer price inflation in the U.K. rose unexpectedly in October, official data showed on Tuesday.

In a report, the U.K. Office for National Statistics said that the rate of consumer price inflation was a seasonally adjusted 3.2% in October, up from 3.1% in September.

Analysts had expected consumer price inflation to remain unchanged at 3.1% in October.

The report said that an increase in fuel prices, which rose by 1.8%, and a rise in alcoholic beverages and tobacco prices … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Touches Daily Low On Dovish Fed Outlook

Posted: 16 Nov 2010 01:37 AM PST

Forex Pros – The U.S. dollar snapped 7-days of gains against the Swiss franc on Tuesday, slipping down to touch a daily low after officials from the Federal Reserve sounded a dovish note and defended the banks easing policy.

USD/CHF hit 0.9830 during European morning trade, the daily low; the pair subsequently consolidated at 0.9834, shedding 0.11%.

The pair was likely to find support at 0.9722, last Friday's low and resistance at 0.9931, the high of November 2.

Earlier in the day, in an … [visit site to read more] or compare Best Credit Cards and Best CD Rates

S&P 500: Waiting For Mr Market To Show His Hand

Posted: 16 Nov 2010 01:11 AM PST

Last Friday was a miserably cold day in Interlaken where I was attending an investment conference. It was also a so-called 90% down-day for American stock markets (and many other bourses also recorded downward dynamics). A 90% down-day is defined as a day when downside volume equals 90% or more of the total upside plus downside volume and points lost equal 90% or more of the total points gained plus points lost. The historical record show that 90% down-days do not usually occur as a single … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Hits Daily High After Japan Approves Stimulus

Posted: 16 Nov 2010 01:11 AM PST

Forex Pros – The U.S. dollar was up against the yen on Tuesday, rising to a fresh daily high after Japan's parliament approved legislation to fund a stimulus package to support the economic recovery.

USD/JPY hit 83.24 during early European trade, the daily high; the pair subsequently consolidated at 83.20, gaining 0.15%.

The pair was likely to find support at 82.39, Monday's low and resistance at 83.80, the high of September 30.

Earlier Tuesday, the Diet passed a 4.4 trillion yen … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Quantitative Easing Update: US Interest Rates Back On The Rise

Posted: 16 Nov 2010 01:01 AM PST

The Federal Reserve's moves are backfiring.

The Fed's recent announcement that it's going to keep the free money spigot flowing for at least another six months was the last straw.

China, which has become a big lender to the U.S. to suppress its currency to make its goods cheaper, has criticized the move.

Germany, a large exporter who benefits greatly when the dollar rises against the Euro, has expressed concerns as well.

Now the program where the Fed buys bonds to push up bond … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Jeremy Grantham: Have Cash, Wait For Stocks To Fall

Posted: 16 Nov 2010 01:00 AM PST

Jeremy Grantham, chief investment strategist of Grantham Mayo Van Otterloo (GMO), recently made a rare television appearance when interviewed by CNBC's Maria Bartiromo. In this extended interview (29 minutes), Grantham shares his views on markets, the economy and his investment strategy. This is must-view material.
<

Click here for a full transcript of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Quantitative Easing 101

Posted: 16 Nov 2010 12:58 AM PST

The video below puts a humorous spin on the otherwise difficult-to-digest process of quantitative easing. I guess as long as we can laugh, there is a modicum of hope …

The transcript below comes courtesy of FDL Action:
BEAR I:  How does the Fed execute the quantitative easing?
BEAR II:  They buy the Treasury bonds.
BEAR I:  Do they buy the Treasury bonds from the Treasury Department?
BEAR II:  No they buy the Treasury bonds from the Goldman Sachs.
BEAR I:  You … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Gary Shilling On Deflation

Posted: 16 Nov 2010 12:56 AM PST

In the clip below, Michael Pento interviews Gary Shilling, president of A. Gary Schilling & Co., on why deflation is in fact a grave threat to the American … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Laugh Out Loud: America Splendor Remains Adrift …

Posted: 16 Nov 2010 12:50 AM PST

Forex – GBP/USD Hits 2-day Low Ahead Of U.K. Inflation Data

Posted: 16 Nov 2010 12:18 AM PST

Forex Pros – The pound was down against the U.S. dollar on Tuesday, falling to hit a 2-day low, ahead of the release of key U.K. data on inflation.

GBP/USD hit 1.6046 during late Asian trade, the pair's lowest since November 12; the pair subsequently consolidated at 1.6030, shedding 0.14%.

Earlier in the day, in an interview with The Wall Street Journal, Federal Reserve Vice Chairwoman Janet Yellen defended the Fed’s November 3 decision to purchase USD600 billion more of U.S. Treasury … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Asia Stocks Decline As Commodities Slump; Nikkei Sheds 0.31%

Posted: 15 Nov 2010 11:55 PM PST

Forex Pros – Asian stocks were down on Tuesday, as a slumping commodity sector led markets lower, but losses were limited as Japanese exporters gained after the yen weakened against the U.S. dollar.

During late Asian trade, Hong Kong’s Hang Seng Index tumbled 1.61%, South Korea’s Kospi Composite fell 0.77%, while Japan's Nikkei 225 Index shed 0.31%.

Shares in the commodity sector led declines as crude oil and metal prices retreated. Japan's biggest oil exporter Inpex saw shares tumble … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Rebounds From 7-week Low After Dovish Fed Remarks

Posted: 15 Nov 2010 11:42 PM PST

Forex Pros – The euro erased losses against the U.S. dollar on Tuesday, rebounding from a 7-week low, following dovish remarks by two senior Federal Reserve officials.

EUR/USD clawed up from 1.3561, the pair's lowest since September 30, to hit 1.3595 during late Asian trade, gaining 0.05%.

The pair was likely to find support at 1.3435, the low of September 27 and resistance at 1.3749, Monday's high.

Earlier in the day, New York Fed President William Dudley said the need to exit from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Play Black Friday And The Holiday Shopping Season With These Tech Stocks

Posted: 15 Nov 2010 11:31 PM PST

In just two weeks, we enter the holiday shopping season. Black Friday is coming, and this year is all about consumer technology.

The war has already started between Wal-Mart (NYSE:WMT) and Target (NYSE:TGT), with massive “doorbuster” deals, like Wal-Mart’s 42-inch Emerson 1080p LCD HDTV for $398 and Target’s Sony wireless Blu-ray player for $99.

These deals are typically kept under wraps until one week before Black Friday, but this year both companies experienced a “leak,” and their ad … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Santa To Send The Philippine Peso Back To P42.00 Vs. The US Dollar?

Posted: 15 Nov 2010 11:17 PM PST

Roughly a month ago, the Philippine Peso together with many other currencies were trading strongly against the US dollar. If you look at the dollar-to-peso chart (USD/PHP), the peso even reached a high of P41.991 versus the greenback last November 4. However, the P42.00 marker proved to be resilient, at least at that time, as the dollar rebounded off of it.

At present, the Philippine Peso is trading back at around P43.70. Several technical factors, though, indicate that the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bear Of The Day: Capella Education (CPLA)

Posted: 15 Nov 2010 11:05 PM PST

The regulations proposed by the Department of Education demonstrate potential risk that looms over the education sector currently. It might weigh upon students enrollment and Capella Education’s (NASDAQ:CPLA) profits.
Capella is witnessing falling students enrollment. We observe that the growth in enrollments in third-quarter 2010 has decelerated sequentially. After increasing 32.1% in the second quarter, the rate of growth in enrollment dropped to 25.7% in the third quarter. Capella now expects … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bull Of The Day: Micromet, Inc. (MITI)

Posted: 15 Nov 2010 11:05 PM PST

Micromet Inc.’s (NASDAQ:MITI) third quarter 2010 loss (excluding special items) of $0.12 per share was narrower than the year-ago loss of $0.22 per share and the Zacks Consensus Estimate of a loss of $0.19 per share. The reduced loss was attributable to an increase in revenues and a fall in operating expenses.
We are pleased with the broad pipeline at Micromet. Moreover, the company’s efforts to develop the pipeline are also encouraging. Furthermore, we believe that the collaborations with major … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Momentum Stock: Steve Madden Ltd.

Posted: 15 Nov 2010 11:05 PM PST

Steve Madden Ltd. (NASDAQ:SHOO) recently hit a new all-time high at $44.85 before reporting solid Q3 results that included a 5% earnings surprise. With an average earnings surprise of 14% over the last four quarters and a bullish growth projection, SHOO is kicking up the momentum meter a notch or two.
Company Description
Steve Madden, Ltd., together with its subsidiaries designs and sells footwear for men, woman and children worldwide. The company was founded in 1990 and has a market cap of $1.16 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Growth & Income Stock: Starbucks Corp

Posted: 15 Nov 2010 11:05 PM PST

Coffee prices have been soaring lately, but that hasn’t stopped Starbucks Corp (NASDAQ:SBUX) from delivering another excellent quarter. The company recently reported solid fourth quarter results for fiscal year 2010 driven by strong top-line growth both domestically and abroad.
Management is also optimistic that it can grow EPS next year by about 15% in spite of higher commodity costs. In addition, the company has been producing strong free cash flow and paid its first dividend in 2010.
Solid … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Aggressive Growth Stock: Air Methods Corp

Posted: 15 Nov 2010 11:05 PM PST

Air Methods Corp (NASDAQ:AIRM) is coming off of back-to-back earnings surprises, thanks to solid increases in revenue.
Currently shares are trading with great valuations, solid growth rates and a Zacks #1 Rank (Strong Buy).
Company Description
Air Methods provides emergency medical air transportation services and systems. The company has about 300 aircrafts that operate from bases in 42 states.
Earning Soar Above Expectations
Nov 4′s earnings release was much better than analysts were expecting. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Double Jeopardy And More For The Rand

Posted: 15 Nov 2010 11:01 PM PST

By Cees Bruggemans, Chief Economist of FNB.
It isn't only that the Rand faces the determination of the Fed to steadily ease US monetary policy yet more through persistent bond buying, injecting yet more liquidity, aiming to lower its yield curve yet more, and by implication weaken the Dollar yet more.
Europe faces its own complexity, in its case its many peripheral Club Med countries with their overextended sovereign debt realities. If it isn't Greece or Portugal, it is Ireland that has the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

SA Interest Rate Outlook Remains Favourable

Posted: 15 Nov 2010 11:00 PM PST

By Cees Bruggemans, Chief Economist of FNB.
With prime interest rate at 9.5% after 600 points easing these past two years what further rate downside is there?
And when can we expect first increase?
——————
SARB remains guided by inflation-targeting, in which both the outlook for inflation and the expected state of the economy figure centrally in any interest rate decision.
Eventually the state of financial markets may also be considered, especially when overly excited and giving rise … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Oil Stalls As Bearish News Flow Spurs Profit Taking, Gold Follows Through To The Downside As Dollar Rises

Posted: 15 Nov 2010 10:51 PM PST

Commodities – Energy
Crude Oil Stalls as Bearish News Flow Spurs Profit Taking
Crude Oil (WTI) – $84.52 // $0.34 // 0.40%
Commentary: Crude oil erased early gains to finish close to unchanged on Monday at $84.86. Price action for the day was in step with that of U.S. equity markets, with European sovereign debt concerns offsetting the bullish underpinnings of the financial markets, which include the Fed's QE2 program, the improving U.S. labor market, and sizzling growth in the emerging … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The Asian Session

Posted: 15 Nov 2010 10:15 PM PST

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

EUR/USD was trading at 1.3613, up 0.19% at time of writing.

The pair was likely to find support at 1.3561, today's low, and resistance at 1.3820, Thursday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.18% to hit 0.8479 and EUR/JPY rising 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Breakouts In IEF And TBT Bond Funds: Levels To Watch Next

Posted: 15 Nov 2010 09:55 PM PST

Monday marked an important initial breakdown in the daily chart of key bond funds iShares Barclays 20+ Year Treasury Bond (TLT) and iShares Barclays 7-10 Year Treasury (IEF).

Let's take a specific look at the 7-10 year IEF Treasury Fund, and the corresponding breakout in the leveraged inverse TBT 20+ year Treasury ETF (TBT).

The IEF is the lesser-known cousin to leading bond fund TLT (20+ Year).  The IEF experienced a stellar rise – as far as bond funds go – from the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down During The Asian Session

Posted: 15 Nov 2010 09:46 PM PST

Forex Pros – The British Pound was lower against the U.S. Dollar on Tuesday.

GBP/USD was trading at 1.6052, down 0.01% at time of writing.

The pair was likely to find support at 1.5986, Friday's low, and resistance at 1.6184, Friday's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.11% to hit 0.8474 and GBP/JPY rising 0.05% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down During The Asian Session

Posted: 15 Nov 2010 09:46 PM PST

Forex Pros – The British Pound was lower against the U.S. Dollar on Tuesday.

GBP/USD was trading at 1.6052, down 0.01% at time of writing.

The pair was likely to find support at 1.5986, Friday's low, and resistance at 1.6184, Friday's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.11% to hit 0.8474 and GBP/JPY rising 0.05% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Up During The Asian Session

Posted: 15 Nov 2010 09:46 PM PST

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Tuesday.

USD/JPY was trading at 83.12, up 0.04% at time of writing.

The pair was likely to find support at 81.66, Friday's low, and resistance at 83.26, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.11% to hit 1.3602 and GBP/USD falling 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Up During The Asian Session

Posted: 15 Nov 2010 09:46 PM PST

Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Tuesday.

USD/JPY was trading at 83.12, up 0.04% at time of writing.

The pair was likely to find support at 81.66, Friday's low, and resistance at 83.26, Monday's high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.11% to hit 1.3602 and GBP/USD falling 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Up During The Asian Session

Posted: 15 Nov 2010 09:46 PM PST

Forex Pros – The Euro was higher against the Japanese Yen on Tuesday.

EUR/JPY was trading at 113.06, up 0.16% at time of writing.

The pair was likely to find support at 111.06, Friday's low, and resistance at 113.64, Monday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the British Pound, with EUR/USD gaining 0.11% to hit 1.3602 and EUR/GBP rising 0.11% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

So, What’s The Best Way To Play The Stock Market These Days?

Posted: 15 Nov 2010 09:39 PM PST

There are no two ways about it, Monday was not a good day for the bulls. For most of the day, it seemed like the market had recovered decently from the losses on Friday but the market gave it all back in the last one hour and the S&P finished negative. It certainly looks like MA(20) on the S&P will finally give way Tuesday – for the first time since 2nd September. The level currently stands at 1195.84.

The dollar meanwhile closed a few cents above MA(50), the first time this … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stanley Ho’s Gaming Company SJM Holdings: A Good Value Buy Now?

Posted: 15 Nov 2010 09:34 PM PST

SJM Holdings Ltd, the gaming company belonging to Stanley Ho, is the counter we're looking at now. The number 1 casino company in Macau by market share has came down quite a fair bit over the last 5 days from $12+ to $10.70.

Chinese prime minister Wen Jiabao's recent visit to Macau was a little worrying as some Chinese reports was speculating his intention to cut back on the gaming scene. The Chinese premier only did urge the Macau Government to put in more efforts towards … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The Asian Session

Posted: 15 Nov 2010 06:00 PM PST

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

EUR/USD was trading at 1.3592, up 0.03% at time of writing.

The pair was likely to find support at 1.3561, today's low, and resistance at 1.3820, Thursday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.03% to hit 0.8466 and EUR/JPY rising 0.10% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

China And Oil Usage

Posted: 15 Nov 2010 12:20 AM PST

Back on August 23, 2010, the Center for Geoeconomic Studies showed this chart of crude oil usage intensity of China and other countries in a blog posting:

Their comment was that China is rapidly approaching the $15,000 GDP per capita level when oil consumption intensity starts to rise. Given the vastness of Chinese population, this would mean that global oil demand would take off like a rocket [emphasis added]: “Were China's per capita oil consumption to be brought up to South Korea's, … [visit site to read more] or compare Best Credit Cards and Best CD Rates
at

No comments:

Post a Comment