Thursday, December 2, 2010

DailyMarkets.com - Monitoring The Stock Market Bull And QE’s Effectiveness

DailyMarkets.com - Monitoring The Stock Market Bull And QE’s Effectiveness

Monitoring The Stock Market Bull And QE’s Effectiveness

Posted: 02 Dec 2010 09:55 AM PST

As we have stated many times, one of the primary objectives of the Fed's quantitative easing (QE) policy is to attempt to reinflate asset prices in order to improve global balance sheets and restore some semblance of the wealth effect. Some key S&P 500 levels can help us monitor the health of the current bull market and the effectiveness of the Fed's QE experiment.

Traders, investors, and trading algorithms have good memories, especially when it comes to potentially important … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ecolab Closes Cleantec Acquisition

Posted: 02 Dec 2010 09:35 AM PST

Leading cleaning and sanitation products company Ecolab Inc (NYSE:ECL) has completed its acquisition of Australian cleaning and hygiene products maker Cleantec for an undisclosed price. The Minneapolis-based company announced the deal in September 2010.
Cleantec, a unit of Brisbane-based diversified industrial services company Campbell Brothers Ltd, develops and markets cleaning and hygiene products primarily to the food and beverage, hospitality and textile care markets in Australia. The entity … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Initial Jobless Claims Bounce Back

Posted: 02 Dec 2010 09:35 AM PST

Initial Claims for Unemployment Insurance rose by 26,000 last week to 436,000 (last week was also revised up by 3,000, so one could see it as a 29,000 increase). This was worse than the expected level of 422,000.

Last week's big surprise to the downside seems to have been a bit of a mirage. However, it still looks like we might get out of the "trading range" that initial claims have been in for the last year. Initial claims have been generally trending down since they hit a secondary … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Levels And Outlook For December 2, 2010: GBP/JPY, EUR/JPY, EUR/GBP

Posted: 02 Dec 2010 09:34 AM PST

GBP/JPY Looking at a Bearish Attempt
Resistance 1:  131 (breaking); Resistance 2: 132.00; Resistance 3: 133.00
Support pivot 1: 130.50; Support pivot 2: 129.90; Support 3:129.30; Target of current downswing: 128.80

GBP/JPY 12/2/2010 1H Chart

The GBP/JPY is showing strong bearish price action. If the RSI can break below 40 to confirm, and price can extend even lower below the 61.8% retracement level. We have some pivots to provide support going down, but the swing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Tractor Ups Outlook

Posted: 02 Dec 2010 09:05 AM PST

Tractor Supply Company (NASDAQ:TSCO) raised its sales and earnings outlook for fiscal 2010 on the back of better-than-expected sales.

Tractor is well positioned to capitalize on positive long-term trends. The company now expects fiscal 2010 topline to range between $3.57 billion and $3.59 billion compared with the previous range of $3.53–$3.55 billion.
On the back of perked-up results and brighter sales trends,Tractor increased its fiscal 2010 earnings guidance to a range of $2.16 to $2.19 from a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ABM Industries Buys Linc Group

Posted: 02 Dec 2010 09:05 AM PST

ABM Industries Inc. (NYSE:ABM) has acquired Irvine, California-based The Linc Group, LLC ("TLG") for a cash consideration of $300 million. With this transaction, ABM Industries is expected to join the ranks of the Fortune 500. ABM Industries expects the deal to be slightly accretive to fiscal 2011 earnings and more so in fiscal 2012.
The Linc Group is a global provider of technical building services, comprehensive green solutions, and other training and support services. The services offered … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Kroger Reports In Line

Posted: 02 Dec 2010 08:35 AM PST

The Kroger Company (NYSE:KR), one of the largest grocery retailers, recently posted third-quarter 2010 results. The quarterly earnings of 32 cents a share came in line with the Zacks Consensus Estimate, and jumped 18.5% from 27 cents delivered in the prior-year quarter.
The Zacks Consensus Estimate rose by a penny prior to the earnings announcement with 2 out 17 analysts covering the stock raising their projections in the last 7 days.
The Cincinnati-based company, Kroger, now expects fiscal 2010 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Harley To Expand In Brazil

Posted: 02 Dec 2010 08:35 AM PST

Harley-Davidson Inc. (NYSE:HOG) has announced that it will expand dealership network in Brazil in order to compensate for the sluggish sales in the U.S. with the rapid growth in the international markets.
The motorcycle maker has reached an agreement with HDSP/Grupo Izzo, its exclusive dealer in Brazil, to appoint new retailers in the future. The dealer already operates nine retail outlets in Brazil. The expansion will cost Harley 6 cents per share in the fourth quarter of the year.
Harley has … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Plum Creek Completes Montana Sale

Posted: 02 Dec 2010 08:16 AM PST

Plum Creek Timber Co. Inc. (NYSE:PCL), a real estate investment trust (REIT) owning and managing timberlands in the U.S., has recently completed the third and final phase of the Montana forestland sale to 'The Nature Conservancy and The Trust for Public Land'. The company has received $89 million in cash for approximately 70,000 acres of forestland.
Earlier in 2008, Plum Creek had entered into an agreement with the conservation organization to sell 312,000 acres of western Montana forestlands … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AMB Renews Yen Credit Facility

Posted: 02 Dec 2010 08:16 AM PST

AMB Property Corp. (NYSE:AMB), a leading real estate investment trust (REIT), has recently renewed its yen-denominated unsecured revolving credit facility to strengthen its liquidity. The facility is scheduled to mature in March 2014 and has a one-year extension option.
The credit facility contains an accordion feature which allows AMB to add Singapore dollars and/or Hong Kong dollars to it, upon the agreement of the participating banks. The borrowing capacity of the revolving credit facility can … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Principal Provides 2011 Outlook

Posted: 02 Dec 2010 08:16 AM PST

Principal Financial Group Inc. (NYSE:PFG) guided full year 2011 operating earnings in a range of $2.80 to $3.00 per share. The Zacks Consensus Estimate for 2011 at $2.83 per share falls within the guidance.
The company also expects an average S&P 500 Index of 1,250 in 2011, driving 9%–10% year-over-year increase in average assets under management in 2011. It still expects operating losses of $100 million to $120 million at the Corporate segment in 2011. Principal Financial estimates weighted … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Regal Beloit Revises Guidance

Posted: 02 Dec 2010 08:16 AM PST

Regal Beloit Corporation (NYSE:RBC) recently revised its guidance for the fourth quarter of 2010. Regal now expects earnings per share to come around 63 cents – 67 cents, down from the previous estimate of 69 cents – 75 cents, primarily due to a slower-than-expected sales pace in the heating, ventilation and air conditioning (HVAC) segment and acquisition-related expenses that the company will undertake in the quarter.
Regal also announced that it will acquire Unico, Inc., which manufactures a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Turning Up

Posted: 02 Dec 2010 08:15 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: 02 Dec 2010 08:15 AM PST

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

Bonds Rise As Defensive Play

Posted: 02 Dec 2010 08:14 AM PST

Today’s Idea
Barring a setback in the EU, T-Note fundamentals remain bearish at the moment. The FOMC has shown no signs that it will make any effort to stop inflation until it becomes a major economic concern. Technically, Notes have broken through support levels, but the extent of any potential downside remains unknown. For this reason, some traders may wish to consider putting on a bear call spread, like selling the Jan Note 125 calls and buying the Jan Note 127 calls for a credit of 0-15, or … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURGBP Tests 100 Day MA And Holds Resistance

Posted: 02 Dec 2010 07:58 AM PST

Forex – Dollar Broadly Lower Vs. Rivals After Mixed U.S. Data

Posted: 02 Dec 2010 07:57 AM PST

Forex Pros – The U.S. dollar was broadly lower against its major counterparts on Thursday, following the release of mixed U.S. data and amid speculation that the European Central Bank was buying the bonds of peripheral euro zone nations.

During European late afternoon trade, the greenback was down against the euro, with EUR/USD climbing 0.17% to hit 1.3164.

Earlier Thursday, ECB President, Jean-Claude Trichet said that the bank's bond purchase program “is ongoing.” Analysts had expected … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Steady, Remains Above $86

Posted: 02 Dec 2010 07:56 AM PST

12/02/10 Front month crude prices continued to remain above $86 a barrel this session following strong equity performance and easing eurozone debt … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Trims Losses After U.S. Pending Home Sales Jump

Posted: 02 Dec 2010 07:38 AM PST

Forex Pros – The pound trimmed losses against the U.S. dollar on Thursday, retreating from a 2-day low after data showed U.S. pending home sales jumped in unexpectedly in October.

GBP/USD clawed up from 1.5512, the pair's lowest since Tuesday, to hit 1.5574 during European afternoon trade, shedding 0.29%.

Cable was likely to find support at 1.5483, Tuesday's low and resistance at 1.5771, the high of November 26.

The U.S. National Association of Realtors said its pending home sales … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: AUDUSD Moves Above 200 Hour MA. Risk Trade Spurs Buying

Posted: 02 Dec 2010 07:36 AM PST

Forex – EUR/USD Trims Gains After ECB, U.S. Data

Posted: 02 Dec 2010 07:26 AM PST

Forex Pros – The euro trimmed gains against the U.S. dollar on Thursday, after the European Central Bank extended special liquidity measures and after data showed U.S. pending home sales jumped in October.

EUR/USD retreated from 1.3217, the pair's highest since November 29, to hit 1.3177 during European afternoon trade, gaining 0.30%.

The pair was likely to find support at 1.2970, Wednesday's low and resistance at 1.3301, Monday's high.

The ECB was due to phase out extra liquidity … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Tax Benefits Help Toll Brothers Construct Fiscal 4Q Profit

Posted: 02 Dec 2010 02:23 AM PST

12/02/10 Luxury home builder Toll Brothers posted a surprise fiscal 4Q profit on … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: PEP, WBD, TGT, COST

Posted: 02 Dec 2010 07:22 AM PST

12/02/10 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 Pending Home Sales Jump Unexpectedly In October

Posted: 02 Dec 2010 07:07 AM PST

Forex Pros – Pending home sales in the U.S. jumped unexpectedly in October, official data showed on Thursday.

In a report, the National Association of Realtors said its pending home sales index surged by 10.4% in October, after falling by 1.8% in September.

Analysts had expected the pending home sales index to decline by 0.9% in October.

Year-on-year, the National Association of Realtors pending home sales index fell 22.4% in October, after falling by 24.9% in September.

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

U.S. Stocks Advance After The Open On Retailers; Dow Jones Up 0.40%

Posted: 02 Dec 2010 06:56 AM PST

Forex Pros – U.S. stocks were up after the open on Thursday, as upbeat retail sales data overshadowed worse-than-expected U.S. employment data, while concerns over euro zone sovereign debt contagion eased.

During early U.S. trade, the Dow Jones Industrial Average gained 0.40%; the S&P 500 index rose 0.38%, while the Nasdaq Composite index advanced 0.43%.

Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Trims Losses As ECB To Extend Liquidity Measures

Posted: 02 Dec 2010 06:37 AM PST

Forex Pros – The euro trimmed losses against the yen on Thursday, after the president of the European Central Bank, Jean-Claude Trichet, said the bank will continue to offer special longer-term liquidity into 2011.

EUR/JPY clawed up from 109.97, the daily low to hit 110.58 during European afternoon trade, shedding 0.02%.

The pair was likely to find support at 108.39, Wednesday's low and resistance at 111.76, the high of November 29.

The extra liquidity measures were due to be phased out … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Extends Losses After Jobless Claims Increase

Posted: 02 Dec 2010 06:17 AM PST

Forex Pros – The U.S. dollar extended losses against its Canadian counterpart on Thursday, falling to hit a 5-day low after official data showed that the number of people who filed for unemployment assistance in the U.S. last week rose more-than-expected.

USD/CAD hit 1.0080 during European afternoon trade, the pair's lowest since November 25; the pair subsequently consolidated at 1.0095, tumbling 0.73%.

The pair was likely to find support at 1.0056, the low of November 15 and resistance … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Initial Jobless Claims Rise More-than-expected

Posted: 02 Dec 2010 05:34 AM PST

Forex Pros – The number of people who filed for unemployment assistance in the U.S. last week rose more-than-expected, official data showed on Thursday.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending November 27 rose to a seasonally adjusted 436K, after falling to 410K in the preceding week, whose figure was revised up from 407K.

Analysts had expected initial jobless claims to rise to 423K in the week ending … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/GBP Surges To 3-day High As Markets Await Trichet

Posted: 02 Dec 2010 05:14 AM PST

Forex Pros – The euro surged to a 3-day high against the pound on Thursday as expectations grew that the European Central Bank was set to take decisive steps to halt sovereign debt contagion in the euro zone.

EUR/GBP hit 0.8459 during European afternoon trade, the pair's highest since November 29; the pair subsequently consolidated at 0.8445, gaining 0.42%.

The pair was likely to find support at 0.8333, Wednesday's low and resistance at 0.8520, the high of November 29.

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

European Central Bank Keeps Interest Rate At 1.00%

Posted: 02 Dec 2010 04:47 AM PST

Forex Pros – The European Central Bank kept its benchmark interest rate unchanged for the 19th consecutive month in December, it announced on Thursday.

The bank said it was maintaining the benchmark interest rate at 1.00%, in a widely expected move.

ECB president Jean-Claude Trichet was to comment on the decision at a press conference later in the day.

Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.15% to hit 1.3159.

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