Thursday, December 30, 2010

DailyMarkets.com - What Are Americans’ Top 3 Money Goals For 2011? Part 3 Of Our Special Series

DailyMarkets.com - What Are Americans’ Top 3 Money Goals For 2011? Part 3 Of Our Special Series

What Are Americans’ Top 3 Money Goals For 2011? Part 3 Of Our Special Series

Posted: 30 Dec 2010 07:35 AM PST

We at DailyMarkets.com ask some Americans what their top 3 money management or investing goals are for 2011. This is part 3 of our 4-part special year-end series. See part 1 and part 2 if you haven’t.

Who: Yan Ross
Location: Arizona
Job: Director of Special Projects, Institute of Consumer Financial Education, and Founder of Avalon Strategies

Yan says,
“Goal #1: Get debt-free

I should be clear that this is not an absolute, but a general goal.  We are already careful to pay … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ZIOP Initiates Cancer Study

Posted: 30 Dec 2010 07:35 AM PST

Recently, ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) commenced an early-stage study of its candidate palifosfamide as a combination therapy in patients suffering from small cell lung cancer (SCLC) and other cancers.
ZIOPHARM intends to enroll 12 to 15 patients for the single arm, dose escalation study which is designed to evaluate the safety of the combination of palifosfamide, etoposide and cisplatin/carboplatin for the planned mid-stage study in patients suffering from extensive SCLC. The combination of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Windstream Upgraded To Neutral

Posted: 30 Dec 2010 07:35 AM PST

We are upgrading our long-term recommendation on Windstream Communication (NYSE:WIN), the fifth largest local telephone carrier in the U.S., to Neutral from Underperform. We believe the company's liquidity concerns will be reined in by the growth opportunities ahead. Currently, the stock has the Zacks # 3 (Hold) Rank.
Windstream's ongoing acquisitions to expand its coverage markets and subscriber count are vital for its survival in an industry that is consolidating. We believe acquisitions … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Foreclosures Up: A Caveat For 2011?

Posted: 30 Dec 2010 07:35 AM PST

Just a couple of days before entering the New Year, a report from bank regulators revels that the U.S. home foreclosures jumped in the third quarter as lesser number of distressed borrowers received assistance related to loan modifications from mortgage servicers. This seems to be one of the reasons for the extensiveslip in home prices in 20 of the largest U.S. cities in October. Should we view this as one of the warnings for 2011?
Though an increase in foreclosures is one of the major negative … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Goldcorp Acquires Andean Resources

Posted: 30 Dec 2010 07:35 AM PST

Goldcorp Inc. (NYSE:GG) announced that it has completed the previously announced acquisition of Sydney, Australia-based Andean Resources Limited (AND.AX) for approximately C$3.6 billion ($3.4 billion). The acquisition brings to Goldcorp the Cerro Negro Gold project, an advanced-stage, high-grade vein system with substantial expansion potential adding to Goldcorp's peer-leading low cost growth pipeline.
Earlier in September, Goldcorp had entered into an agreement to acquire all the outstanding … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Under Pressure

Posted: 30 Dec 2010 07:21 AM PST

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

Canadian Dollar: Caution

Posted: 30 Dec 2010 07:21 AM PST

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

Signs Of Foreign Interest Spur Bonds

Posted: 30 Dec 2010 07:20 AM PST

Today’s Idea
The large sell-off that the Bond market has seen in recent months suggests that some investors could see Bonds as an attractive investment. Yields are at their highest levels since the first half of 2010, and traders could see equities and commodities as being a bit toppy, at least in the near-term. The chart shows large intra-day moves without a direction for much of the month. This could be a sign that the market could turn. Some traders may wish to consider buying a March Bond … [visit site to read more] or compare Best Credit Cards and Best CD Rates

State Tax Revenues Rebound By 5.2% In QIII

Posted: 30 Dec 2010 07:15 AM PST

The Census Bureau reported this week that state and local tax revenues increased by 5.21% in the third quarter compared to a year ago, which is the largest quarterly increase since the fourth quarter of 2007.  Here’s a breakdown by category for the third quarter 2010 vs. 2009:

Individual income tax: +4.78%
Property taxes:  +7.77% 
General sales taxes: +4.01% 
Motor fuel taxes: +8.21% 
Tobacco taxes: +8.25% 
Alcoholic beverage taxes: +1.90%
Corporation income … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Pending Home Sales Fall Less-than-expected

Posted: 30 Dec 2010 07:10 AM PST

Pending home sales in the U.S. fell less-than-expected last month, industry data showed on Thursday.

In a report, National Association of Realtors said that Pending home sales fell to a seasonally adjusted 3.50%, from 10.40% in the preceding month.

Analysts had expected Pending home sales to fall to 2.10% last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Stocks Decline After The Open In Thin Trade; Dow Jones Down 0.12%

Posted: 30 Dec 2010 07:06 AM PST

Forex Pros – U.S. stocks were down after the open on Thursday with the last full trading day of the year marked by low volumes and volatile trade with many traders already gone for the New Year's holiday.

During early U.S. trade, the Dow Jones Industrial Average dropped 0.12%; the S&P 500 index slumped 0.15%, while the Nasdaq Composite index was down 0.24%.

With many investors already away on year-end leave, trading volumes were expected to be low, resulting in volatile … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Allscripts EHR Wins Certification

Posted: 30 Dec 2010 07:05 AM PST

Allscripts Healthcare Solutions (NASDAQ:MDRX), a leading provider of clinical software and information solutions meant for medical providers, recently announced that both its Sunrise Emergency Care, Version 5.5 as well as Sunrise Acute Care, Version 5.5 are currently in compliance with 2011/2012 Certification Commission for Health Information Technology (CCHIT).
These products were duly certified to be Complete EHRs ("Electronic Health Record"), on December 21, 2010, by the CCHIT, a part of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Boost For Endo Pharma

Posted: 30 Dec 2010 07:05 AM PST

Endo Pharmaceuticals' (NASDAQ:ENDP) portfolio received a boost with the US Food and Drug Administration (FDA) clearing Fortesta Gel for treating men (above 18 years of age) with low levels of testosterone (low T or hypogonadism). The disease results from the failure of the body to produce normal amounts of the male sex hormone testosterone. The disorder is associated with erectile dysfunction and reduced sexual urge, fatigue, energy loss, depression, waning of secondary sexual characteristics in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market News Briefs: Anadarko Petroleum, BHP Billiton Limited, Boston Properties, Credit Suisse Group, Global Payments, Goldman Sachs Group, Jefferies Group, Lockheed Martin, Morgan Stanley, Public Service Enterprise Group Incorporated, Endo Pharmaceuticals Holdings

Posted: 30 Dec 2010 07:05 AM PST

 BHP Billiton (NYSE:BHP) plans to offer a price of $90 per share for Anadarko (NYSE:APC)

 Lockheed Martin (NYSE:LMT) was awarded a Navy contract yesterday to build 10 warships  known as Littoral Combat Ships, between now and 2015 worth up to $3.6 billion

 Susquehanna increased its target price of Global Payments (NYSE:GPN) from $47 to $55, and  maintained its positive outlook

 Credit Suisse (NYSE:CS) lowered their earnings projections for both Goldman Sachs (NYSE:GS) and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: GBPUSD Dam Breaks And Surges Higher

Posted: 30 Dec 2010 07:01 AM PST

THE
GBPUSD surged higher after breaking above the 100 hour MA at the 1.5433 level and the 200 hour MA at the 1.5447 level. Staying above these levels should keep the upward bias in tact for the pair. Next resistance at the 1.5465-69 (100 bar MA on the 5 minute chart and 50% of the days range. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Chicago PMI Rises Unexpectedly

Posted: 30 Dec 2010 07:00 AM PST

The U.S.'s Chicago PMI rose unexpectedly last month, data showed on Thursday.

In a report, research group Kingsbury International said that the Chicago PMI rose to a seasonally adjusted 68.60, from 62.50 in the preceding month.

Analysts had expected the Chicago PMI to fall to 61.50 last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY Testing Resistance. A Break Above 81.68 Should Be Bullish

Posted: 30 Dec 2010 06:58 AM PST

The USDJPY is testing intraday channel resistance at 81.68. A break above should lead to higher prices. The 81.94 is the next … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BJ’s Wholesale May Face Hostile Bid

Posted: 30 Dec 2010 06:35 AM PST

The shares of BJ's Wholesale Club Inc. (NYSE:BJ), a leading warehouse club operator in the United States, rose 7.1% or $3.15 to $47.62 on Wednesday, when speculations of a hostile takeover bid spread across the market.
According to the New York Post, a private-equity firm, Leonard Green & Partners may make an attempt to acquire the company, if BJ's does not commence a sales auction, as planned. Earlier, the Post had reported that BJ’s has been exploring strategic alternatives, including a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

As Year Ends, Labor Market Continues To Improve

Posted: 30 Dec 2010 06:35 AM PST

The Department of Labor reported today that initial jobless claims fell to 388,000 for the week ending December 25, the lowest weekly level since early July 2008, almost two and-a-half years ago.   That brought the four-week moving average down to 414,000 claims, the lowest count since late July 2008 (see chart).

In other positive labor market news this week, the American Staffing Association reported that its weekly Staffing Index was 100 for the week ending December 19.  That … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 30 Dec 2010 06:25 AM PST

Forex Pros – The U.S. dollar was broadly lower against its major counterparts on Thursday in subdued year-end trade, after official data showed that U.S. initial jobless benefits in the week ended December 25 fell to the lowest level since early July 2008.

Earlier in the day, the U.S. Department of Labor said that the number of individuals filing for initial jobless benefits fell more-than-expected in the week ended December 25, declining to a seasonally adjusted 388K, after falling to a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Swiss Franc: Under Pressure

Posted: 30 Dec 2010 06:21 AM PST

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

Japanese Yen: Under Pressure

Posted: 30 Dec 2010 06:21 AM PST

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

British Pound: Rebound

Posted: 30 Dec 2010 06:21 AM PST

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

Euro: Rebound

Posted: 30 Dec 2010 06:20 AM PST

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

Forex – USD/CAD Trades In Tight Range In Subdued Trade

Posted: 30 Dec 2010 06:09 AM PST

Forex Pros – The U.S. dollar was down against its Canadian counterpart for the seventh consecutive day on Thursday, falling to a daily low in subdued trade ahead of the New Year's weekend.

USD/CAD hit 0.9990 during European afternoon trade, a daily low; the pair subsequently consolidated at 0.9999, slumping 0.10%.

The pair was likely to find support at 0.9974, Wednesday's low and an 8-month low, and resistance at 1.0055, Wednesday's high.

With many investors already away on year-end … [visit site to read more] or compare Best Credit Cards and Best CD Rates

BXP Completes Hancock Acquisition

Posted: 30 Dec 2010 06:05 AM PST

Boston Properties Inc. (NYSE:BXP), a real estate investment trust (REIT), has recently completed the acquisition of 'John Hancock Tower', the tallest building in Boston, Massachusetts, for $930 million. The company acquired the property from an affiliate of Normandy Real Estate Partners and an affiliate of Five Mile Capital Partners, both real estate private equity firms.
The purchase price included approximately $289.5 million in cash and the assumption of $640.5 million in a senior mortgage … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Trading Plan For Thursday: NFLX, MOS, ATPG, CSTR

Posted: 30 Dec 2010 05:52 AM PST

Market Confirmation: Market In Confirmed Uptrend

Short Term Action: (Red Alert for longs) Buying on pullbacks but too stretched to the upside to enter here (Good time to take profits) Light volume drift upward to overbought levels can make for an ugly pullback early in January with just average volume. Prepare for a pullback.

For 2011 we will be adding a couple important enhancements to our nightly reports.
Not only is it critical to be in the right stocks at the right time but when … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Hits 2-day High After Euro Zone Retail Sales Data

Posted: 30 Dec 2010 05:52 AM PST

Forex Pros – The euro was up for the first time in three days against the yen on Thursday, rising to hit a 2-day high in subdued trade ahead of year's end, after the release of upbeat data on euro zone retail sales. 
.
EUR/JPY hit 108.30 during European afternoon trade, the pair's highest since December 28; the pair subsequently consolidated at 108.10, gaining 0.14%.

The pair was likely to find support at 107.61, Wednesday's low, and resistance at 109.50, the high of December … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Dollar Moves Lower As Recovery Theme Grows

Posted: 30 Dec 2010 05:50 AM PST

The dollar continued to weaken overnight as it typically does in more favorable economic times. The euro extended its claw-back exercise against the greenback while the Swiss franc maintained its nascent role as anchorman of Europe by furthering its recent record peaks against the world’s major pair of reserve currencies.
Swiss franc – A reinvigorated Swiss economy spearheaded by recovering exports has helped buoy the role of the Swiss franc throughout 2010. Its value has been further bolstered … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/GBP Surges To 7-week High In Volatile End-of-year Trade

Posted: 30 Dec 2010 05:40 AM PST

Forex Pros – The euro was up for the second consecutive day against the pound on Thursday, surging to a 7-week high, after data showed that European retail sales in December increased at the fastest pace since May 2008.

EUR/GBP hit 0.8612 during European afternoon trade, the pair's highest since November 10; the pair subsequently consolidated at 0.8608, jumping 0.88%.

The pair was likely to find support at 0.8502, Wednesday's low, and resistance at 0.8637, the high of November … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Top Stories (12/30)- CHF At Record Highs Vs USD, EUR, GBP; AUD/USD Hits Record High

Posted: 30 Dec 2010 05:38 AM PST

Top Stories – CHF At Record Highs vs USD, EUR, GBP; AUD/USD Hits Record High
Today's session was characterized by further USD weakness and at the same time strength by the Swiss Franc. The CHF hit record highs against the GBP, EUR, and USD simultaneously. The USD was also weaker against both the Japanese Yen and the Australian Dollar.
USD/CHF – Record Low as Thin Conditions Exaggerate Moves
Pushed to record lows, broke out of its downward channel, sliding to 0.9350. This week, we have … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Petrobras’ Reserves To Jump

Posted: 30 Dec 2010 05:35 AM PST

Brazil’s state-run energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A., declared that the pre-salt reservoirs of the Tupi and Iracema areas in the country's Santos Basin are commercially viable, holding a massive 8.3 billion barrels of recoverable reserves.
In a regulatory filing, Petrobras pegged Tupi's initial recoverable volumes at 6.5 billion barrels, while Iracema is estimated to contain 1.8 billion barrels of oil and equivalents. Latin America's largest company by market … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Highwoods Acquires Assets

Posted: 30 Dec 2010 05:35 AM PST

Highwoods Properties, Inc. (NYSE:HIW), a leading real estate investment trust (REIT), has recently acquired 'Independence Park' – a 33-acre multi-building development site in the Westshore submarket of Tampa for $4.9 million. The property can facilitate construction of office space spanning 524,000 square feet  and is the largest remaining development tract in the Westshore submarket.
Highwoods also acquired a vacant office building totaling 117,000 square feet of space on an additional … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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

Posted: 30 Dec 2010 05:35 AM PST

The number of people who filed for unemployment assistance in the U.S. last week fell 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 last week fell to a seasonally adjusted 388.00K, from 422.00K in the preceding week whose figure was revised up from 420.00K.

Analysts had expected initial jobless claims to fall to 416.00K last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 12.30.2010 – GBP/JPY EUR/JPY EUR/GBP

Posted: 30 Dec 2010 05:14 AM PST

GBP/JPY Breaks below 126.00
Resistance 1: 126.00; R2: 127.00: R3 128
Support 125.50; Target if bearish attempt confirmed: 123.50

- The GBP/JPY continues to slide, and broke below 126.00. The 4H chart shows a bullish divergence during this bearish breakout. The daily RSI is in the oversold area.
- The market is too bearish to consider a bullish scenario, but we are indeed at important support levels as seen in the daily chart.
- I would like to see the market decline a bit further from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

China’s Manufacturing PMI Shows Slowdown, AUD/USD Falls From Multi-Year Highs

Posted: 30 Dec 2010 05:04 AM PST

China released its manufacturing data for December, and while the index slid slightly to 54.4 from 55.3, it still showed strong activity to end the 4th quarter.

From the Release (via Markit): "December data pointed to a continued improvement of Chinese manufacturing sector operating conditions. However, overall growth of the sector lost momentum, with both output and new business rising at the slowest rates in three months. The slowdown in new order growth was  insufficient to prevent … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Plunges To 22-month Low On Downbeat U.K. Outlook

Posted: 30 Dec 2010 04:42 AM PST

Forex Pros – The pound was down for the fourth consecutive day against the yen on Thursday, plunging to a 22-month low, after data showed that U.K. home prices were likely to extend their decline in 2011.    

GBP/JPY hit 125.54 during European afternoon trade, the pair's lowest since February 2, 2009; the pair subsequently consolidated at 125.84, plunging 0.53%.

The pair was likely to find support at 124.22, the low of January 27, 2009, and resistance at 126.79, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 12.30.2010 EUR/USD GBP/USD USD/JPY

Posted: 30 Dec 2010 04:38 AM PST

EUR/USD in Holiday TradingResistance: 1: 1.3280-1.33; R2 (61.8%): 1.3030; R3: 1.34
Support 1: 1.3180-1.32;  S2: 1.3150; S3: 1.3050-1.3100;
Targets below 1.3050: 1.2970, 1.2920, 1.28, 1.26

- Erratic holiday trading continues as the EUR/USD rallied after a very strong move down, with almost the same strength. The RSI did tag 70 in the 1H chart, but we saw that it went higher last attempt.
- Price action is also now developing a wedge near the last highs around 1.3280. A break above that … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CHART OF THE DAY

Posted: 30 Dec 2010 04:02 AM PST

Hype Over Active ETFs Not Misplaced

Posted: 30 Dec 2010 04:00 AM PST

Jonathan Liss, at Seeking Alpha, recently spoke to Laura Morrison, who is the head of US Exchange Traded Products (ETPs) at NYSE Euronext which lists more than 1,200 ETPs with close to a $1 trillion in assets. Morrison opines on the banner year that 2010 has been for ETFs and also talks about future developments including actively-managed ETFs.
Asked about what kind of new products she sees coming to market, Morrison said, "I also expect we'll see more actively managed ETFs come to market, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – U.S. Dollar Mixed Vs. Rivals In Volatile Year-end Trade

Posted: 30 Dec 2010 03:55 AM PST

Forex Pros – The U.S. dollar was mixed against its major counterparts on Thursday with the last full trading day of the year marked by low volumes and volatile trade as many traders are already gone for the New Year's holiday.

During European afternoon trade, the greenback was down against the euro, with EUR/USD jumping 0.15% to hit a 2-day high of 1.3246.

Earlier in the day, data showed that Italian business confidence surged to a 33-month high in November, while European retail sales … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Erases Gains, Tumbles To Daily Low In Choppy Trade

Posted: 30 Dec 2010 03:32 AM PST

Forex Pros – The pound erased gains against the U.S. dollar on Thursday, retreating from a 1-week high in choppy year-end trade, after industry data showed that U.K. home prices were likely to extend their decline in 2011.    

GBP/USD hit 1.5409 during European morning trade, a daily low; the pair subsequently consolidated at 1.5424, tumbling 0.49%.

The pair was likely to find support at 1.5349, Wednesday's low, and resistance at 1.5567, the high of December … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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