Tuesday, November 9, 2010

DailyMarkets.com - Exxon Plans To Save Costs

DailyMarkets.com - Exxon Plans To Save Costs


Exxon Plans To Save Costs

Posted: 09 Nov 2010 05:08 AM PST

ExxonMobil Corp. (NYSE:XOM) is planning to reduce development costs in the Upper Zakumoil field off Abu Dhabi. The company will build four artificial islands in this region along with its partners that could lead to a billion dollars in cost savings.
The company thinks that building islands is a cheaper option than erecting offshore production platforms. Exxon's development cost is already one of the lowest among its peers and well below the industry average. We believe this initiative will … [visit site to read more] or compare Best Credit Cards and Best CD Rates


MarkWest Blows Away Estimates

Posted: 09 Nov 2010 05:08 AM PST

MarkWest Energy Partners L.P. (NYSE:MWE), a master limited partnership ("MLP"), reported strong third quarter results, reflecting a robust performance of its core assets and the growing contribution from the Marcellus expansion projects.
Earnings per unit, excluding marked-to-market derivative loss and compensation expense, came in at 47 cents, way ahead of the Zacks Consensus Estimate of 19 cents and the year-ago adjusted profit of 8 cents.
Revenue of $292.4 million was up 40.6% from the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


ImmunoCellular Therapeutics: At The Forefront Of Targeting Cancer Stem Cells

Posted: 09 Nov 2010 04:40 AM PST

Written by Grant Zeng, CFA
ImmunoCellular Therapeutics (IMUC) Targeting Cancer Stem Cells: The Root Cause of Cancer
   
Cancer treatment with therapeutics has made great progress in the past decade. Chemotherapy has long been the only option for oncologists to fight cancers. But the toxicities associated with chemotherapeutics have limited their use. While killing cancer cells, chemotherapeutic agents also kill healthy cells within the body making them highly toxic to humans. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Hana Bioscience: Poised To Deliver Shareholder Value

Posted: 09 Nov 2010 04:40 AM PST

Written by Grant Zeng, CFA

Hana Biosciences Inc. ( HNAB ) A decent pipeline with late stage candidates…
   
South San Francisco, CA based Hana Biosciences, Inc. (Hana) is a late development stage biopharmaceutical company which is focused on two cancer care areas: cancer therapeutics and cancer supportive care. 
The company's lead cancer therapeutic candidate is Marqibo (vincristine sulfate liposome injection), a novel, targeted Optisome encapsulated formulation … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/USD Rebounds As U.S. Attracts Criticism Ahead Of G20

Posted: 09 Nov 2010 04:32 AM PST

Forex Pros – The pound turned higher against the U.S. dollar on Tuesday, rebounding from a 4-day low as the Federal Reserve's stimulus plan attracted fresh criticism ahead of a G20 world economic summit.

GBP/USD clawed up from 1.6066, the pair's lowest since November 3 to hit 1.6167 during European early afternoon trade, gaining 0.20%.

Cable was likely to find support at 1.5960, the low of November 2 and resistance at 1.6212, Monday's high.

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


Risk Appetite Regains Its Footing; Gold And Silver Continue Northern Journey

Posted: 09 Nov 2010 03:45 AM PST

        

Fundamental Headlines
• Ireland's Next Blow – Wall Street Journal
• Gold Prices Extend Climb – Wall Street Journal
• Nerves Push Gold To Fresh High Above $1,420 – Financial Times
• Papaconstantinou Says EU Budget Cuts May "Choke Off Growth"- Bloomberg
•China Trade Surplus May Jump in Sign Quick "Fix" to Elude G-20 – Bloomberg
GBPUSD: Industrial production in the U.K. rose 0.4 percent in September after climbing a revised … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Obama, Bernanke Defend Quantitative Easing, But Everyone Else Hates It

Posted: 09 Nov 2010 03:30 AM PST

Even as Barack Obama and Ben Bernanke publicly defend the Federal Reserve’s new $600 billion quantitative easing program, top finance officials around the globe are expressing alarm and outrage.  But what did Obama and Bernanke expect?  “Quantitative easing” is little more than legalized cheating.  For a moment, imagine that the global economy is a giant game of Monopoly.  Essentially what Bernanke has done is that he has just reached under the table and has slipped another $600 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


America To Face Attacks On Quantitative Easing Policy At G20 Summit As Currency War Rages On

Posted: 09 Nov 2010 03:20 AM PST

The United States will go on the defense at this week’s Group of 20 (G20) meeting, having to explain its quantitative easing (QE2) policy to foreign leaders who have criticized the move as a currency war tactic to weaken the dollar and damage other countries’ export-driven recoveries.

China, Brazil, Germany and South Africa all have spoken out against the U.S. Federal Reserve’s announcement last week that it will buy $600 billion in U.S. Treasuries through June. Finance policymakers … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Trims Losses After Greek Debt Auction

Posted: 09 Nov 2010 03:19 AM PST

Forex Pros – The euro trimmed early losses against the U.S. dollar on Tuesday, retreating from a 7-day low following a successful auction of Greek Treasury bills.

EUR/USD clawed up from 1.3823, the pair's lowest since October 29 to hit 1.3909 during European morning trade, shedding 0.07%.

The pair was likely to find support at 1.3763, the low of October 28 and resistance at 1.4089, Monday's high.

Earlier in the day, the Greek Public Debt Management Agency auctioned EUR300 million of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Newly-Empowered House Republicans To Challenge Dodd-Frank Financial Reform Bill

Posted: 09 Nov 2010 03:15 AM PST

With Republicans taking control of the House of Representatives, much of the Democratic agenda will be challenged in the months ahead. That includes the Dodd-Frank financial reform legislation, which Congressional Republicans have already pledged to weaken.

The financial reform bill passed in June and brought with it increased consumer protection, trading restrictions for big banks, and tighter regulation of financial products. However, the bill still fell short of dramatic Wall Street … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Six Ways To Profit As China Emphasizes Domestic Consumption Over Export-Driven Growth

Posted: 09 Nov 2010 02:55 AM PST

Money Morning’s Keith Fitz-Gerald passes a Pizza Hut restaurant in Beijing’s Central Business District in China. Pizza Hut is an example of a U.S. company that’s doing well with China’s shift to consumerism.

BEIJING, People’s Republic of China – There’s something inherently satisfying about waking up on a clear, crisp fall day in this bustling capital city, and seeing this headline atop the lead story in this morning’s China Daily newspaper:

“World Bank Sees Change in Growth … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stocks To Watch On Tuesday: Bank Of America, General Electric, Oracle, Rio Tinto, SAP, Genzyme, Sanofi Aventis, Randgold, Nokia, Barclays, Vodafone, BP

Posted: 09 Nov 2010 02:39 AM PST

BP (NYSE:BP) – Co. did not put cost before safety in drilling the Macondo well that ruptured in April, according to the presidential commission investigating the spill in the gulf of Mexico. (FT)

UK

Vodafone (NYSE:VOD) – Co.'s H1 EBITDA GBP 7.36bln vs. Exp. GBP 7.29bln, and H1 sales GBP 22.6bln vs. Exp. GBP 22.3bln. Co. said interim dividend GBP 0.0285, and said impairment charges were GBP 800mln in respect of Greece. Co. upgraded full year profit guidance, and said full year … [visit site to read more] or compare Best Credit Cards and Best CD Rates


European Stocks Rise On Upbeat Earnings; DAX Up 0.57%

Posted: 09 Nov 2010 02:20 AM PST

Forex Pros – European stocks advanced on Tuesday, boosted by upbeat corporate earnings reports, while U.S. futures indexes pointed to a higher open on Wall Street.

During European morning trade, the EURO STOXX 50 was up 0.73%; France's CAC 40 rose 0.59%; while Germany’s DAX gained 0.57%.

In earnings news, shares in the world's largest mobile-phone company Vodafone gained 1.69% after it said fiscal first-half profit rose to GBP 8.24 billion, up from GBP 5.74 billion a year earlier. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.K. Trade Deficit Narrows Less-than-expected

Posted: 09 Nov 2010 01:50 AM PST

Forex Pros – The U.K.'s trade deficit narrowed less-than-expected in September, official data showed on Tuesday.

In a report, , the U.K. Office for National Statistics said the country’s trade deficit narrowed to a seasonally adjusted GBP 8.2 billion in September, compared to a deficit of GBP 8.5 billion in August, whose figure was revised from a deficit of GBP 8.2 billion.

Economists had expected the trade deficit to narrow to GBP 7.9 billion in September.

The report said that the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.K. Manufacturing Production Rises Less-than-expected

Posted: 09 Nov 2010 01:39 AM PST

Forex Pros – Manufacturing production in the U.K. rose less-than-expected in September, official data showed on Tuesday.

In a report, the U.K. Office for National Statistics said that manufacturing production rose by a seasonally adjusted 0.1% in September, after rising by 0.4% in August, whose figure was revised up from 0.3%.

Economists expected manufacturing production to rise by 0.3% in September.

The report showed that year-on-year, manufacturing production rose by 4.8% in September, … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Dollar Broadly Higher Vs. Rivals As Focus Swings To Euro Zone

Posted: 09 Nov 2010 01:22 AM PST

Forex Pros – The U.S. dollar was broadly higher against its major counterparts on Tuesday, as concerns about peripheral euro zone sovereign debt resurfaced after markets digested the Federal Reserve stimulus plan unveiled last Wednesday.

During European morning trade, the greenback was up against the euro, with EUR/USD shedding 0.52% to hit 1.3847. On Monday, European Union Commissioner Olli Rehn said Ireland hadn’t requested any financial backstops from the EU.

 The greenback was also … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stock Trading Plan For Tuesday: GLD, LVS, FCEL, BZ, ILMN

Posted: 09 Nov 2010 01:10 AM PST

We locked in a 82% gain on Las Vegas Sands (NYSE:LVS) Friday and locked in a 31% gain on another stock on Monday.

FuelCell Energy (NASDAQ:FCEL) takes off to close up over 22% in 1 day. We are now up 31% in 3 weeks on this one. We sent out an intraday alert closing ½ of the position locking in a 31% gain. If you missed the call you can always trail a stop or close in the morning

SPDR Gold Shares (GLD) once again hit new highs and rallied despite a strong dollar. We are now up 31% and 43% … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/CHF Hits Daily Low As Risk Appetite Wanes

Posted: 09 Nov 2010 12:53 AM PST

Forex Pros – The U.S. dollar snapped 2-days of gains against the Swiss franc on Tuesday, falling to a daily low as risk appetite waned after Chinese authorities announced plans to crack down on financial markets.

USD/CHF hit 0.9631 during European morning trade, a daily low; the pair subsequently consolidated at 0.9639, shedding 0.18%.

The pair was likely to find support at 0.9547, the low of November 5 and resistance at 0.9736, the high of November 4.

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


Forex – USD/JPY Hits 2-day Low As China Tightens Financial Regulations

Posted: 09 Nov 2010 12:35 AM PST

Forex Pros – The U.S. dollar was down against the yen on Tuesday, falling to hit a 2-day low amid increased risk aversion after Chinese authorities announced strict new financial market regulations.

USD/JPY hit 80.74 during Early European trade, the pair's lowest since last Friday; the pair subsequently consolidated at 80.84, shedding 0.40%.

The pair was likely to find support at 80.23, the low of November 1 and a 15-year low and resistance at 81.57, the high of November 3.

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


Forex – Pound Hits 4-day Low Against Broadly Stronger Dollar

Posted: 09 Nov 2010 12:10 AM PST

Forex Pros – The pound was down against the broadly stronger U.S. dollar on Tuesday, falling to a 4-day low following the release of mixed U.K. data on house prices and retail sales.

GBP/USD hit 1.6068 during early European trade, the pair's lowest since November 3; the pair subsequently consolidated at 1.6099, shedding 0.23%.

Cable was likely to find support at 1.5960, the low of November 2 and resistance at 1.6212, Monday's high.

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


U.S. Banks Increase Their Appetite For Treasury Bonds Despite Fed’s Efforts To Spur Lending

Posted: 09 Nov 2010 12:01 AM PST

Despite the U.S. Federal Reserve’s efforts to spur lending by keeping interest rates low and pumping up liquidity with quantitative easing, banks continue to borrow from the government at low rates and reinvest the funds into higher-yielding Treasury bonds.

U.S. commercial banks are buying the most Treasury and agency debt since the Fed began tracking the data in 1950, adding $186.2 billion to their inventories through Oct. 20 bringing the total to $1.62 trillion. At the same time, … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Asia Stocks Mixed As Yen Strengthens; Nikkei Sheds 0.39%

Posted: 08 Nov 2010 11:53 PM PST

Forex Pros – Asian stocks were mixed on Tuesday, as slumping energy sector shares led markets lower, and as the yen advanced against the U.S. dollar after China announced new financial regulations.

During late Asian trade, Hong Kong’s Hang Seng Index was down 0.52%, South Korea’s Kospi Composite gained 0.26%, while Japan's Nikkei 225 Index shed 0.39%.

In Japan, shares in the energy sector led declines as crude oil prices retreated from a 25-month high. Japan's biggest oil exporter Inpex … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Tumbles To 7-day Low As Debt Fears Punish Euro

Posted: 08 Nov 2010 11:33 PM PST

Forex Pros – The euro was down against the U.S. dollar on Tuesday, tumbling to a 7-day low amid ongoing concerns about the debt problems of some peripheral euro zone nations, especially Ireland.

EUR/USD hit 1.3838 during late Asian trade, the pair's lowest since October 29; the pair subsequently consolidated at 1.3866, shedding 0.38%.

The pair was likely to find support at 1.3763, the low of October 28 and resistance at 1.4089, Monday's high.

On Monday, European Union Commissioner for … [visit site to read more] or compare Best Credit Cards and Best CD Rates


The Alberta Bakken Has Major Oil Companies Watching Closely

Posted: 08 Nov 2010 11:20 PM PST

The best new shale oil play you've never heard of is getting ready to explode onto investors' radar early in 2011 – the Alberta Bakken.

Located on either side of the Alberta/Montana border, the key land packages in this play have been assembled with very little news or fanfare – but by some very smart and successful companies, like Crescent Point (CPG-TSX) in Canada, and Rosetta Resources (NASDAQ:ROSE), Newfield Exploration (NYSE:NFX) and Murphy Oil (NYSE:MUR).

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


Has The Stock Market Lost Its Upward Momentum?

Posted: 08 Nov 2010 11:10 PM PST

The rally lost its momentum Monday and the markets had a small sell-off. However, because of the slow news day and lack of any market data, most market participants focused on the action in the US Dollar that maintained its morning advance into the afternoon. Some upcoming data later this week — several retailers will announce earnings which will help gauge consumer spending this holiday season. See you Midday.

It was a day of sluggish and uninspired market action Monday. With no … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Growth & Income Stock: Steris Corp

Posted: 08 Nov 2010 11:05 PM PST

Steris Corp (NYSE:STE) was able to keep the momentum going when it recently reported its 11th consecutive positive earnings surprise. Management also raised the lower end of its guidance, prompting several analysts to raise their estimates higher.
Meanwhile the company has been rewarding its shareholders through stock buy backs and impressive dividend hikes. The stock also trades at a reasonable price and recently became a Zacks #2 Rank (Buy).
Company Description
Steris Corp provides infection … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Aggressive Growth Stock: Solera Holdings

Posted: 08 Nov 2010 11:05 PM PST

Solera Holdings (NYSE:SLH) analysts continue to raise estimates in light of the most recent quarterly earnings surprise.
Thanks to strategic initiatives and anticipated mergers and acquisitions, estimates are showing double-digit growth for the next 2 years. While shares are at an all-time high, this Zacks #1 Rank (Strong Buy) has valuations in line with its industry.
Company Description
Solera Holdings primary business is providing software and services to auto insurance claims processors. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bear Of The Day: Monsanto Company (MON)

Posted: 08 Nov 2010 11:05 PM PST

We reiterate our Underperform recommendation on Monsanto Company (NYSE:MON) based on low visibility on the yield performance of SmartStax seed in the coming years. Based on concerns regarding the performance of SmartStax seed, estimates have gone down by 6 cents and 14 cents for fiscal 2011 and 2012, respectively.
Monsanto continued to post weak results for fiscal 2010 with an EPS of $2.41, almost half its $4.41 in fiscal 2009 due to the decrease in the prices of Roundup herbicides. The increase … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bull Of The Day: EI DuPont De Nemours & Co. (DD)

Posted: 08 Nov 2010 11:05 PM PST

DuPont (NYSE:DD) is focused on capturing $1 billion in working capital productivity gains during 2011-2013. The company is also on track to achieve a combined $600 million in benefits from fixed cost productivity and restructuring actions.
DuPont is executing strategies for further development and growth of new products, particularly for agriculture, photovoltaics, alternative energy and materials. Furthermore, the company’s focus on the emerging markets, along with a strong performance in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Momentum Stock: Crocs, Inc.

Posted: 08 Nov 2010 11:05 PM PST

Crocs, Inc. (NASDAQ:CROX) just hit a new multi-year high after surging on excellent Q3 results that included a 4% earnings surprise. With an average earnings surprise of 177% over the last four quarters and a bullish growth projection, this Zacks #1 rank stock is a shoe-in for momentum.
Company Description
Crocs, Inc. and its subsidiaries design, manufacture and sell footwear for men, women and children worldwide. The company was founded in 1999 and has a market cap of $1.34 billion.
Shares of CROX … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Euro Likely To Trade Lower As European Debt Crisis Takes Center Stage Again

Posted: 08 Nov 2010 10:59 PM PST

Over the past month or so, world`s focus, currency markets in particular, has been centered mainly on the U.S. over QE2, the November elections, and the Job`s Report. As such, there have been some interesting headlines coming out of Europe that went quietly under the radar as Wall Street became infatuated with their own bullish sentiment.

Now, with QE2 and mid-term election pretty much behind us, guess where the market's attention will shift to next?

The euro, which has been … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Is It Worth Holding Santarus Shares?

Posted: 08 Nov 2010 10:56 PM PST

As expected, Santarus (NASDAQ:SNTS) reported a 3rd quarter loss after-hours Monday.  This was mostly attributed to reduced sales because of generic Zegerid competition, one-time costs and their diabetes drug GLUMETZA shipments did not resume in August, as originally anticipated.  The loss was more significant than analysts expected but, the company is still likely to rebound and has significant cash reserves to do so along with a solid pipeline.  Unfortunately, the recovery might not happen … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Crude Oil Pauses At Resistance As Breakout Anticipated, Gold Records Continue To Be Broken Despite Firm Dollar

Posted: 08 Nov 2010 10:51 PM PST

Commodities – Energy
Crude Oil Pauses at Resistance as Breakout Anticipated
Crude Oil (WTI) – $86.68 // $0.38 // 0.44%
Commentary: Crude oil finally fell on Monday, breaking a five-session win streak from last week. Oil fell $0.17, or 0.2%, to settle at $86.89. That being said, crude has hit 25-month highs in recent days and looks poised to decisively break out of a range that has contained it for over a year now. As we stated yesterday, the economic calendar is extremely light in the coming … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Down During The Asian Session

Posted: 08 Nov 2010 10:30 PM PST

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

EUR/USD was trading at 1.3868, down 0.37% at time of writing.

The pair was likely to find support at 1.3838, today's low, and resistance at 1.4282, Thursday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.26% to hit 0.8602 and EUR/JPY falling 0.74% 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: 08 Nov 2010 09:55 PM PST

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

EUR/JPY was trading at 112.18, down 0.73% at time of writing.

The pair was likely to find support at 112.07, today's low, and resistance at 115.42, Thursday's high.

Meanwhile, the Euro was down against the U.S. Dollar and the British Pound, with EUR/USD shedding 0.43% to hit 1.3860 and EUR/GBP falling 0.28% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


How To Manage Risk, Increase Income And Maximize Returns With Mohsin Bashir, CFA Of Highwater Capital Management

Posted: 08 Nov 2010 09:00 PM PST

Mohsin Bashir, CFA is a Research Analyst and Chief Compliance Officer at Highwater Capital Management

Managing risk using options doesn't have to be a hard endeavour. In this interview, you'll learn how one hedge fund analyst uses options to lower his average purchase price of a stock and boost the exit price, while collecting an income as a hedge. Furthermore, being an expert in preferred shares, you'll also learn some of the metrics and ways he uses to assess the value of a … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/USD Down During The Asian Session

Posted: 08 Nov 2010 09:00 PM PST

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

GBP/USD was trading at 1.6135, down 0.02% at time of writing.

The pair was likely to find support at 1.6068, today's low, and resistance at 1.6299, Thursday's high.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.32% to hit 0.8596 and GBP/JPY falling 0.33% 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: 08 Nov 2010 08:00 PM PST

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

EUR/JPY was trading at 112.28, down 0.64% at time of writing.

The pair was likely to find support at 112.12, today's low, and resistance at 115.42, Thursday's high.

Meanwhile, the Euro was down against the U.S. Dollar and the British Pound, with EUR/USD shedding 0.29% to hit 1.3879 and EUR/GBP falling 0.28% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/JPY Down During The Asian Session

Posted: 08 Nov 2010 07:25 PM PST

Forex Pros – The British Pound was lower against the Japanese Yen on Tuesday.

GBP/JPY was trading at 130.53, down 0.38% at time of writing.

The pair was likely to find support at 130.13, Thursday's low, and resistance at 132.02, Friday's high.

Meanwhile, the British Pound was up against the U.S. Dollar and the Euro, with GBP/USD gaining 0.05% to hit 1.6145 and EUR/GBP falling 0.26% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Four ETFs Reaping The Benefits Of Gold’s Luster

Posted: 08 Nov 2010 07:17 PM PST

As sovereign debt concerns continue to emerge and the US continues to implement a loose monetary policy which results in increased money supply, gold continues to glimmer surpassing the $1,400 per ounce mark giving support to the SPDR Gold Shares (GLD), PowerShares DB Gold Fund (DGL), ETFS Physical Swiss Gold Shares (SGOL) and the Market Vectors Gold Miners ETF (GDX).
Gold futures contracts for December delivery hit an intraday price of $1,410.40 per ounce in electronic trading and the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Down During The Asian Session

Posted: 08 Nov 2010 06:45 PM PST

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

EUR/USD was trading at 1.3886, down 0.24% at time of writing.

The pair was likely to find support at 1.3847, today's low, and resistance at 1.4282, Thursday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.27% to hit 0.8600 and EUR/JPY falling 0.71% 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: 08 Nov 2010 05:50 PM PST

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

AUD/USD was trading at 1.0130, down 0.05% at time of writing.

The pair was likely to find support at 1.0022, Thursday's low, and resistance at 1.0183, Friday's high.

Meanwhile, the Australian Dollar was up against the Euro and down against the Japanese Yen, with EUR/AUD shedding 0.19% to hit 1.3709 and AUD/JPY falling 0.14% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Singapore Stock Market Update For Tuesday 09 November

Posted: 08 Nov 2010 05:29 PM PST

Morning Highlights

Singapore stocks opened slightly lower after Wall Street retreated overnight from a two-year high, weighed down by financial stocks and a stronger dollar. STI opened at 3299.50.
Watch Out For Economic News Today

U.S IBD/TIPP Economic Optimism (Nov)

Corporate Announcements

Keppel Land acquired additional 11.85% stake in Ocean Properties Pte. Ltd. for a cash consideration of S$107.1 million.

Wilmar has received the Australian government approval for the takeover of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Risk Appetite May Have Cooled Its Tempo But Oil And Gold Still Set New Highs

Posted: 08 Nov 2010 04:16 PM PST

North American Commodity Update
Commodities – Energy
A Sixth Consecutive Rally for US Oil Ushers in a Notable Two-Year High
Crude Oil (LS Nymex) – $87.06 // $0.21 // 0.24%
The edge of momentum may have dissipated significantly over the opening 24 hours of the new trading week; but US oil nonetheless maintained its bullish trajectory. In fact, the commodity would put in for a sixth consecutive advance – the longest string of gains in many months. Just as interesting in this consistency of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


The Neighbors Complain About Ben’s Party

Posted: 08 Nov 2010 12:02 AM PST

The reaction to the Fed’s QE2 program has come hot and fast. Emerging market authorities are complaining loudly about QE2. From Brazil to South Africa, the reaction has been swift and negative. China's Vice-Foreign Minister Cui Tankai said that the US "owes us some explanation on their decision" and PBoC governor Zhou Xiaochuan complained that QE2 "is not necessarily optimal policy for the world".  In central banker-speak, that’s somewhat akin to Emperor Hirohito’s … [visit site to read more] or compare Best Credit Cards and Best CD Rates


No comments:

Post a Comment