Wednesday, December 15, 2010

DailyMarkets.com - GE Wins Saudi Contract

DailyMarkets.com - GE Wins Saudi Contract

GE Wins Saudi Contract

Posted: 15 Dec 2010 11:35 AM PST

Saudi Aramco has chosen General Electric Co. (NYSE:GE) as the supplier of a collection of extensive equipments and services for expansion of the Shaybah gas-oil processing facilities. The contract is valued at about $500 million.
The upgradation of the Shaybah facility will develop the oil extraction process, aiding in the economic development of the country.  Saudi Arabia has one of the fastest growing economies in the world and with continued investment in this region GE is committed to be … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Commtouch (CTCH) Dominates In The Cloud

Posted: 15 Dec 2010 11:35 AM PST

Ken Nagy, CFA

Commtouch Software (NASDAQ:CTCH) a provider of email defense and URL filtering solutions to enterprise customers and OEM distribution partners. The firm's "in the cloud" technology has the ability to analyzes 2.5 billion messages a day, which is far superior to the competition's static solutions which have little chance of catching new outbreaks.  During late 2008, the Company released its URL filtering services. The web has more than double the revenue potential of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CNO Financial Prices Credit Notes

Posted: 15 Dec 2010 11:35 AM PST

In order to retire the existing senior credit facility, CNO Financial Group Inc. (NYSE:CNO) has priced its senior secured notes together with the new senior secured credit facility and CNO Financial's available cash.
CNO Financial has priced its $275 million principal amount of 9.0% senior secured notes due in January 2018 at par. The 2018 debt will be offered to qualified institutional buyers as per Rule 144A under the Securities Act of 1933, and the transaction process is expected to close on … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: Longs May Need To Marry

Posted: 15 Dec 2010 11:19 AM PST

Cusick's Corner
This market continues to grind but what is notable (I may be sounding like a broken record) is that it is just so bullish with CBOE Put/Call Ratio .65. What I mean is there is low volatility, great earnings, decent economic data, low inflation and low interest rates and yet everyone is long, both calls/stocks, with no protection. In other words Big and Small strategists are in the market unprotected, the boat is tilted to one side and still sailing along. So what is there to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dollar Stays Higher After Data Releases

Posted: 15 Dec 2010 11:17 AM PST

The US dollar held onto gains against the majors, following the release of key US economic data. The euro saw downward pressure on a possible downgrade of Spain’s debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Channel Trendline At 1.3236 On Current Bar.

Posted: 15 Dec 2010 11:11 AM PST

The EURUSD channel trendline at 1.3236 on current bar. The pair corrected a touch higher off the last lows, but has reversed to new day … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURJPY At Key Level. Does The Pair Have Additional Upside Momentum?

Posted: 15 Dec 2010 11:06 AM PST

Energizer Downgraded To Neutral

Posted: 15 Dec 2010 11:05 AM PST

We downgrade Energizer Holdings Inc. (NYSE:ENR) to Neutral from our previous Outperform rating and lower our price target to $74.00, following the company's dismal fourth quarter 2010 results. We expect the first half of 2011 to remain weak.
Energizer is one of the largest manufacturers and marketers of batteries, lighting and personal care products.
Fourth Quarter Highlights
Both revenues and earnings per share fell short of the Zacks Consensus Estimates. Earnings missed the expectation due to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

McDonald’s Expanding In China

Posted: 15 Dec 2010 11:05 AM PST

McDonald's Corporation (NYSE:MCD) is planning to boost its investment in China by 40% in the next year, as compared with 25% in 2010. The Oak Brook, Illinois-based company will primarily invest in opening 175 to 200 new restaurants in the world's fastest growing economy. The company will also use the fund in renovating existing restaurants.
The world’s largest hamburger chain now operates 1,100 outlets in China, where the company opened its first store in 1990. McDonald's growth was quite … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY Makes A Move Back Toward Key 84.40 Resistance

Posted: 15 Dec 2010 10:53 AM PST

ITT Wins Norway Contract

Posted: 15 Dec 2010 10:35 AM PST

ITT Corporation (NYSE:ITT) has bagged an order from the Norwegian Defense Logistics Organization to supply six tactical radar Electronic Support Measures (ESM) and surveillance systems for its submarines.
ESM systems monitor electromagnetic energy by virtue of which the crew can detect, intercept and locate sources of those signals to detect other vessels or objects, and determine if any of these are a threat to the submarine.
ITT plays an important role in vital markets, including water and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CPI: Inflation Still Tame

Posted: 15 Dec 2010 10:35 AM PST

The Consumer Price Index (CPI) rose by just 0.1% in November, down from 0.2% October. Even with the 0.1% increase in September, year over year it is up just 1.1%.

Energy prices, were surprisingly well behaved in the month, rising just 0.2% after having surged 2.6% in October on top of a 0.7% increase in September. Year over year, energy prices are up 3.9%. Actually, the increase is even narrower than that, as energy commodities such as gasoline were up 0.8% after increases of 4.4% in October … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Falls Below Trendline Support

Posted: 15 Dec 2010 10:31 AM PST

“I Don’t Think The Pain Is Gone From The PIIGs”

Posted: 15 Dec 2010 05:28 AM PST

12/15/10 Sunrise Securities’ Ben Willis discusses the latest US economic data, and weighs in on ongoing euro-zone sovereign debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bearish Player Strangles Visa, Inc.

Posted: 15 Dec 2010 10:17 AM PST

Bearish player strangles Visa, Inc.
Today’s tickers: V, ABC, HTHT & DAL
Visa, Inc. (NYSE:V) – The credit card issuer and global electronic payment services provider popped up on our scanners this morning after one bearish options strategist sold a strangle in the January 2011 contract. It looks like the investor responsible for the transaction sees Visa’s shares slipping lower, while still trading within a certain range through expiration next month. Shares in Visa were down less than 1.25% … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Harley: Made In India

Posted: 15 Dec 2010 10:05 AM PST

Harley-Davidson Inc. (NYSE:HOG) has revealed that it will roll out two new motorcycles assembled at its factory in the north Indian state of Haryana. So far, the company has been importing fully-built motorcycles, which cost more due to higher import duties.
However, local assembling of the motorcycles will help Harley lure Indian buyers by offering lower prices for its premium "hogs". The Indian plant will assemble the models from kits comprising parts produced by its factories in Wisconsin, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

New Chinese Factory For Deere

Posted: 15 Dec 2010 10:05 AM PST

Deere & Co. (NYSE:DE) plans to expend $50 million to build a new factory in China to manufacture construction equipment for China’s domestic market and for export to other markets. The new factory will be located in the Tianjin Economic-Technological Development Area and will manufacture four-wheel-drive loaders and excavators.
Deere's presence in China goes back 30 years, mainly confined to the agricultural equipment sector. In 2008, Deere forayed into the construction equipment sector on … [visit site to read more] or compare Best Credit Cards and Best CD Rates

POSCO Steps Into SNG Business

Posted: 15 Dec 2010 10:05 AM PST

Korean steelmaker, POSCO (NYSE:PKX) signed an agreement with Jeollanam-do and Gwangyang-si, according to which the company will invest in establishing a Synthetic Natural Gas (SNG) manufacturing factory in Gwangyang-si.
The factory will be built on a 415,000m2 site within the Jeonnam Gwangyang National Industrial Complex and will possess an annual production capacity of 500,000 tons of SNG with coal. Both Jeollanam-do and Gwangyang-si have agreed to provide the administrative help for making the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Industrial Production Up 0.4%

Posted: 15 Dec 2010 10:05 AM PST

Total Industrial Production was rose 0.4% in November, which was slightly above the expected 0.3% increase. In October, total production fell by 0.2%, reversing a 0.1% increase in September. Relative to a year ago, total Industrial Production is up 5.4%.

On the surface, these numbers are solid. However, if one digs just a little bit deeper, the report was softer than it first appears. October was revised down to a decline of 0.2% from being unchanged, offset by September being revised to up … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Moves Below MA Support Toward Channel Support

Posted: 15 Dec 2010 09:46 AM PST

UCB Commences Patient Enrolment

Posted: 15 Dec 2010 09:35 AM PST

UCB (UCBJF) along with partner Immunomedics Inc. (NASDAQ:IMMU) recently started patient enrollment in a late-stage trial of epratuzumab in patients with moderate-to-severe systemic lupus erythematosus (SLE). The trial (EMBODY 1) is one of two pivotal phase III trials. The second study, EMBODY 2, has also begun patient enrollment.
Both EMBODY 1 and EMBODY 2 are being conducted to evaluate the efficacy, safety, tolerability, and immunogenicity of epratuzumab when given with standard-of-care … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The New Era Of Cooperation Between The White House And Big Business

Posted: 15 Dec 2010 09:26 AM PST

Jamie Dimon, chairman and CEO of JPMorgan Chase & Co., praises the President's agreement with Republicans to extend the Bush tax cuts.
"If we're going to strengthen our economy and grow jobs, this type of outreach — and cooperation between the administration, Congress, and the private sector — are critical," says Dimon.
Dimon met last week with the President. Thirty other CEOs are meeting with him today.
Dimon's compensation over the last three years has averaged $21,991,394 a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Will “Poor Man’s Gold” Begin To Tarnish?

Posted: 15 Dec 2010 09:19 AM PST

Today’s Idea
The volatile personality of the Silver futures market has certainly been reflected in the relatively high premiums seen in Silver futures options market! The high volatility levels may cause some traders to choose to explore short option strategies in Silver futures options. An example of one such strategy would be selling out-of-the-money strangles. For example, with March Silver trading at 29.710 as of this writing, one could sell the February Silver 40 calls as well as the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NRG Energy Acquires Solar Unit

Posted: 15 Dec 2010 09:15 AM PST

Energy generation company  NRG Energy Inc. (NYSE:NRG) announced that its unit NRG Solar has acquired a 290 megawatt (MW) solar project from First Solar Inc. (NASDAQ:FSLR). This acquisition cements NRG Energy’s alliance with First Solar, as the latter has recently agreed to assist NRG Energy to develop another solar project in New Mexico.
The construction work of the 290 MW Agua Caliente solar project will be completed by 2014. This project will create 400 jobs during the construction process and, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Novartis’ Zometa Disappoints

Posted: 15 Dec 2010 09:15 AM PST

Recently, Novartis AG (NYSE:NVS) presented data from the AZURE trial of its bone drug Zometa at the annual Antonio Breast Cancer Symposium. The phase III study tested the effectiveness of Zometa in improving disease free survival in both premenopausal and postmenopausal women with early breast cancer who had undergone surgery.
The data showed that Zometa when added to standard adjuvant (post surgery) chemotherapy and/or hormonal therapy does not have any advantage in disease free survival compared … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Somber Inflation Revives Treasuries

Posted: 15 Dec 2010 08:56 AM PST

The yield on the U.S. 10-year treasury hit 3.50% late on Tuesday evening following a rather boiler-plate statement from the Fed that left some of us scratching our heads over whether the Fed is looking at the same data improvements we’re watching. The tone simply hasn’t been the same since the Fed launched QEII as bond traders lightened their own boatload of fixed income as data suggested the economy continues to heal. Maybe the buying opportunity needed was a jump in yields back to yesterday’s … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Stocks To Know For Wednesday: AT&T, Kraft, Verizon, Best Buy, AIG, Broadcom, BHP Billiton, Rio Tinto, Credit Suisse, Novartis, Alcon

Posted: 15 Dec 2010 08:49 AM PST

U.S. stocks rose Tuesday, rebounding in the final minutes of trading, as data showing retail sales beat estimates helped equities withstand another blowout sell-off in Treasury bonds. AT&T Inc. (NYSE:T), Kraft Foods (NYSE:KFT) and Verizon Communications (NYSE:VZ) all rallied at least 1.6% to lead gains in the Dow and American International Group (NYSE:AIG) jumped 6.7% after Chairman Steve Miller told Bloomberg TV that he's encouraged about the insurer's prospects for regaining independence … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cubist Cuts Revenue Outlook

Posted: 15 Dec 2010 08:35 AM PST

Cubist Pharmaceuticals Inc. (NASDAQ:CBST) recently lowered its revenue outlook for 2010 due to continuing softness in US sales of its only marketed antibiotic Cubicin. The company now expects to generate revenue in the range of $634–$640 million in fiscal 2010, down from a previous range of $645–$650 million.
The company lowered its Cubicin US sales guidance and now expects Cubicin revenues of $598–$605 million in the US. Earlier, the company was expecting Cubicin revenues in the range of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Lockheed Receives DARPA Contract

Posted: 15 Dec 2010 08:35 AM PST

One of the world's largest U.S. defense contractors, Lockheed Martin Corporation (NYSE:LMT), won a $6.9 million contract to develop multiple One Shot laser-based sniper systems for the Defense Advanced Research Projects Agency (DARPA). The defense agency, DARPA, pointed out that the existing sniper scopes lack the ability to measure wind at long distances.
One Shot laser-based sniper systems improve the accuracy of the snipers and reduces the possibility of detection. One Shot provides the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Comstock Resources Evenly Poised

Posted: 15 Dec 2010 08:24 AM PST

We are maintaining our 'Neutral' recommendation on energy firm Comstock Resources Inc. (CRK) with a target price of $28.
Frisco, Texas-based Comstock Resources is an independent oil and gas exploration and production company engaged in the acquisition, exploration, and development of oil and gas properties. The company's operations are concentrated primarily in two regions in the U.S., East Texas/North Louisiana and South Texas.
As of year-end 2009, Comstock had 725.7 billion cubic feet … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earning Preview: Research In Motion

Posted: 15 Dec 2010 08:24 AM PST

Research In Motion Ltd. (NASDAQ:RIMM) will announce the third quarter financial results of fiscal 2011 on December 16, after the closing bell. We expect the earnings momentum to continue for the company due to two reasons. First, third and fourth quarters of fiscal year generally remains seasonally strong for Research in Motion and secondly, the global smartphone market for high-end customer is vastly untapped. This will naturally provide a growth opportunity to a formidable player like Research In … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market News Briefs: Agrium, Alcon Inc, Companhia De Bebidas Das Americas – AmBev, Dynegy, Goldman Sachs Group, Icahn Enterprises L.P., J P Morgan Chase & Co, Novartis AG, Ryder System, Joy Global, T. Rowe Price Group

Posted: 15 Dec 2010 08:24 AM PST

 Joy Global (NASDAQ:JOYG) reported fiscal fourth quarter earnings of $1.39, ahead of the Zacks Consensus Estimate of $1.16, on revenues of $1.05 billion that topped the Zacks Consensus Estimate of $925.0 million. The firm provided upside 2011 guidance of $5.00-$5.30, above the Zacks Consensus Estimate of $4.17

 Novartis (NYSE:NVS) plans to accuire 22% of Alcon (NYSE:ACL), for $168 per share, or $12.9 billion

 Agrium (NYSE:AGU) will sell their majority interest in AWB Ltd to Cargill for … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Alliant Wins Air Force Contract

Posted: 15 Dec 2010 08:24 AM PST

Alliant Techsystems Inc. (NYSE:ATK) received a $4.5 million limited production phase contract from the U.S. Air Force. The U.S. Air Force has selected two companies for this contract, of which Alliant is one. This contract covers a period of 18 months.
Under the contract, Alliant will modify the High-Speed Anti-Radiation Missile (HARM) for the U.S. Air Force's HARM Control Section Modification (HCSM) program. The HCSM program adds geo-specific targeting capability to the legacy U.S. Air Force … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Tests Channel Support At 1.5600

Posted: 15 Dec 2010 08:23 AM PST

United Technologies Wins NASA Deal

Posted: 15 Dec 2010 08:23 AM PST

Pratt & Whitney Rocketdyne has won a contract from NASA to conduct systems analysis and design studies for heavy-lift launch systems, propulsion technologies and affordability.  Pratt & Whitney Rocketdyne is a United Technologies Corp. (NYSE:UTX) company.
The contract is valued at $622,000 and is aimed at helping NASA prepare the groundwork for flexible space transportation systems that could take humans to asteroids, the moon, Mars and beyond.
Pratt & Whitney segment supplies … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Earnings Scorecard: Costco

Posted: 15 Dec 2010 08:23 AM PST

Costco Wholesale Corporation (NASDAQ:COST), one of the leading U.S. warehouse club operators, recently posted better-than-expected first-quarter 2011 results.
Street analysts had nearly a week to ponder on the news. In the paragraphs that follow, we cover the recent earnings announcement, subsequent analysts' estimate revisions and the Zacks Rank as well as long-term recommendation for the stock.
Earnings Report Review
Costco's quarterly earnings of 71 cents a share topped the Zacks Consensus … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Bullish Bias Above 9825

Posted: 15 Dec 2010 08:22 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Canadian Dollar: Rebound In Sight

Posted: 15 Dec 2010 08:22 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Tests Channel Support

Posted: 15 Dec 2010 08:17 AM PST

Forex – Dollar Broadly Higher Vs. Rivals After U.S. Data

Posted: 15 Dec 2010 08:00 AM PST

Forex Pros – The U.S. dollar was broadly higher its major counterparts on Wednesday, after the release of U.S. data on consumer price inflation, industrial production and manufacturing.

During European late afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.32% to hit 1.3333.

Earlier Wednesday, the premium that investors demand to hold Spanish government debt rose after ratings agency Moody's put Spain’s Aa1 sovereign credit rating under review, pending a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Hangs Around Key 100 Day MA

Posted: 15 Dec 2010 07:59 AM PST

Forex – GBP/USD Extends Losses After U.S. Economic Data

Posted: 15 Dec 2010 07:50 AM PST

Forex Pros – The pound extended losses against the U.S. dollar on Wednesday, tumbling to a fresh 8-day low following the release of U.S. data on consumer prices and industrial production.

GBP/USD hit 1.5616 during European afternoon trade, the pair's lowest since December 3; the pair subsequently consolidated at 1.5638, tumbling 0.85%.

Cable was likely to find support at 1.5580, the low of December 3 and resistance at 1.5822, the high of December 7.

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

Forex – EUR/USD Trims Losses After Tepid U.S. Economic Data

Posted: 15 Dec 2010 07:46 AM PST

Forex Pros – The euro trimmed losses against the U.S. dollar on Wednesday, retreating from a 2-day low, following the release of tepid data on U.S. consumer prices and industrial production.

EUR/USD clawed up from 1.3284, the pair's lowest since Monday to hit 1.3345 during European late afternoon trade, shedding 0.23%.

The pair was likely to find short-term support at 1.3181, Monday's low and resistance at 1.3437, the high of December 3.

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

Revisiting The DXY, UUP And UDN

Posted: 15 Dec 2010 07:34 AM PST

In “$US: A Reversal or Consolidation Pattern” of October 20, I wrote:
“Technical analysis is probably applied more often and with less controversy to foreign exchange than it is to stocks ….. The $US exchange rate has been in a narrow range since 2004 ….. Some might see it as a partially formed complex inverted head-and-shoulder with the neckline currently at around 87.50. Others might see a symmetrical triangle with the exchange index currently bouncing off the bottom trendline ….. I’m … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: DYN, IEP, NVS, ACL, YHOO

Posted: 15 Dec 2010 07:26 AM PST

12/15/10 The latest in news, commentary, and information on what’s moving the US equities … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Stocks Mixed On Spain Downgrade Fear; Dow Jones Up 0.13%

Posted: 15 Dec 2010 06:59 AM PST

Forex Pros – U.S. stocks were mixed after the open on Wednesday, as rekindled fears over the euro zone's sovereign debt crisis overshadowed largely muted data on U.S. consumer prices and industrial production.

During early U.S. trade, the Dow Jones Industrial Average was up 0.13%; the S&P 500 index shed 0.05%, while the Nasdaq Composite index slumped 0.08%.

Earlier in the day, ratings agency Moody's put Spain’s Aa1 sovereign credit rating on review for a possible downgrade, citing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Slips After Muted U.S. Ecomonic Data

Posted: 15 Dec 2010 06:41 AM PST

Forex Pros – The U.S. dollar eased down to a daily low against its Canadian counterpart on Wednesday, following the release of muted data on U.S. consumer prices and industrial production.

USD/CAD hit 1.0045 during European afternoon trade, the daily low; the pair subsequently consolidated at 1.0048, shedding 0.11%.

The pair was likely to find support at 1.0011, the low of December 7 and resistance at 1.0110, Tuesday's high.

Earlier in the day, the Bureau of Labor Statistics said that … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Industrial Production Rises More-than-expected In November

Posted: 15 Dec 2010 06:20 AM PST

Forex Pros – Industrial production in the U.S. rose more-than-expected in November, posting its biggest gain since July, official data showed on Wednesday.

In a report, the U.S. Federal Reserve said that industrial production rose by 0.4% in November, after falling by 0.2% in October, whose figure was revised down from a flat reading.

Analysts had expected industrial production to rise by 0.3% in November.

The report also showed that the capacity utilization rate rose more-than-expected in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. TIC Long Term Purchases Plunge Unexpectedly In October

Posted: 15 Dec 2010 06:07 AM PST

Forex Pros – U.S. Treasury International Capital purchases plunged unexpectedly in October, official data showed on Wednesday.

In a report, the U.S. Department of the Treasury said that net foreign purchases of long-term securities tumbled to USD 27.6 billion in October, after falling to USD 77.2 billion in September, whose figure was revised from USD 81.0 billion.

Analysts had expected purchases of long-term securities to increase to USD 82.3 billion in October.

Following the release of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Tumbles To Fresh 8-day Low After U.S. CPI Data

Posted: 15 Dec 2010 05:57 AM PST

Forex Pros – The pound extended losses against the U.S. dollar on Wednesday, tumbling to a fresh 8-day low after official data showed that U.S. consumer price inflation rose in November.

GBP/USD hit 1.5622 during European afternoon trade, the pair's lowest since December 3; the pair subsequently consolidated at 1.5638, tumbling 0.85%.

Cable was likely to find support at 1.5580, the low of December 3 and resistance at 1.5822, the high of December 7.

The Bureau of Labor Statistics said … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Empire State Manufacturing Index Soars In December

Posted: 15 Dec 2010 05:44 AM PST

Forex Pros – The New York Federal Reserve's index of manufacturing conditions rose significantly more-than-expected in December, official data showed on Wednesday.

In a report, the Federal Reserve Bank of New York said that its general manufacturing conditions index jumped to 10.6 in December, after plunging to -11.1 in November.

Analysts had expected the index to rise to 3.0 in December.

On the index, a reading above 0.0 indicates improving conditions, below indicates worsening … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Core CPI Rises In Line With Expectations In November

Posted: 15 Dec 2010 05:37 AM PST

Forex Pros – Core consumer price inflation in the U.S. rose in line with expectations in November, official data showed on Wednesday.

In a report, the Bureau of Labor Statistics said that consumer prices, less food and energy rose by 0.10% in November, up from a flat reading of 0.0% in October.

The report said that consumer prices including food and energy costs rose less-than-expected in November, increasing by a seasonally adjusted 0.1%, after rising by 0.2% in October.

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

Silver Lining: Jim Williams Of Arian Silver Talks To Stockopedia

Posted: 15 Dec 2010 04:11 AM PST

Jim Williams could hardly have timed it better. After spending the last six years developing silver projects in Mexico, production from his company's flagship San Jose mine finally got underway in September. Just weeks later a near-two year rally in the price of silver saw the precious metal reach a 30-year high of $30.75 an ounce on New York's Comex exchange. For Williams and Arian Silver Corp (LON:AGQ) , the potential for 200m ounces in the ground is something to get excited about.

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

Stock Investor Sentiment: Composite Indicator

Posted: 14 Dec 2010 09:05 AM PST

Figure 1 is a weekly chart of the S&P500, which shows the composite sentiment indicator in the middle panel.   The indicator is constructed from the “Dumb Money”, Rydex asset data, and InsiderScore total market value of insider buying and selling.  These are the set of indicators that I highlight in our weekly round up on sentiment. 9 unique data points are utilized in this indicator. 
 

Figure 1. Composite Sentiment … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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