Monday, January 3, 2011

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DailyMarkets.com - Get 24 Month 0% APR On Balance Transfers With Limited Time Offer Discover More Credit Card


Get 24 Month 0% APR On Balance Transfers With Limited Time Offer Discover More Credit Card

Posted: 03 Jan 2011 07:35 AM PST

The Discover More Card – 24 Month Promotional Balance Transfer offer is a great time-limited promotion only for new sign-ups in the US. For those of you who want to consolidate your high-interest credit card debts or store card debts and want to stop paying any interest on them, listen up.

Under this offer which is valid only through February 28, 2011, you get 0% introductory APR on balance transfers for 24 months (one of the longest in the market)! You’ll also enjoy a 0% intro APR on … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: USDJPY Tests 100 Hour MA Target At 81.69

Posted: 03 Jan 2011 07:15 AM PST

The USDJPY has reached the target at the 100 hour MA and found the profit taking sellers from below.  The support now comes in at the 81.53 level.  If that level holds look for a rotation back higher with a break above the 100 hour MA.   81.84 and 82.01-03 become the next upside targets on a break.  A move below the 81.53 will look toward … [visit site to read more] or compare Best Credit Cards and Best CD Rates


The Week Ahead

Posted: 03 Jan 2011 07:15 AM PST

The stories,data, and stocks that may have the greatest impact during the next trading … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. ISM Manufacturing PMI Rises Less-than-expected In December

Posted: 03 Jan 2011 07:08 AM PST

Forex Pros – Manufacturing activity in the U.S. rose less-than-expected in December, industry data showed on Monday.

In a report, the Institute for Supply Management said its index of purchasing managers rose to 57.0 in December, after falling to 56.6 in November.

Analysts had expected the ISM index of purchasing managers to rise to 57.3 in December.

On the index, a reading above 50.0 indicates industry expansion, below indicates contraction.

According to the data, the level of the PMI … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stock Market News Briefs: Advanced Micro Devices, Alcoa, Bank Of America, Barclays PLC, Boeing Company, Citigroup, Deutsche Bank AG, Exxon Mobil, General Motors, Goldman Sachs Group, J P Morgan Chase & Co, Johnson & Johnson, Morgan Stanley, Pfizer, Piper Jaffray Companies, Teradyne, Wal-Mart Stores, Amazon.com, Cisco Systems, Intel Corporation

Posted: 03 Jan 2011 07:05 AM PST

 Goldman Sachs (NYSE:GS) has invested $450.0 million in social networking firm Facebook, and is planning to  invest another $1.5 billion, making the value of the site at about $50 billion

 Bank of America (NYSE:BAC) has reported fourth quarter charges of $3 billion on its GSE exposure, and $2 billion in its insurance unit

 Johnson & Johnson (NYSE:JNJ) and Boston scientists are planning jointly to bring blood testing of cancer cells to the market

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


AES Corp. Extends Repurchase Prog

Posted: 03 Jan 2011 07:05 AM PST

AES Corporation (NYSE:AES) extended its ongoing stock repurchase program into fiscal 2011. The stock repurchase program of up to $500 million of AES common stock was introduced on July 7, 2010, and was set to expire on December 31, 2010. At the end of the third quarter of 2010, the company had $485 million share repurchase authorization remaining under the plan.
AES Corporation has a strong balance sheet compared to its peers with a low long-term debt-to-capitalization of 62.4% at the end of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Zacks Initiates Trans-Pacific Aerospace Company (TPAC) At Outperform

Posted: 03 Jan 2011 07:05 AM PST

Ken Nagy, CFA

Trans-Pacific Aerospace Company (TPAC) intends to monetize its proprietary technology.  TPAC and its joint venture partners intend to manufacture aerospace quality standard spherical bearings, rod ends and bushings (bearings) in China. Growth in China is two-fold: First the number of planes in China is expected to jump from 1,256 today to 4,330 over the next 20 years.  With 3,000 spherical bearings on each plane the market is substantial. Second the offsets or … [visit site to read more] or compare Best Credit Cards and Best CD Rates


HeartWare Files PMA For New Device

Posted: 03 Jan 2011 07:05 AM PST

HeartWare International (HTWR), a leading manufacturer of heart devices, recently submitted a Pre-Market Approval ("PMA") application to the U.S. Food and Drug Administration ("FDA"), for its HeartWare Ventricular Assist System. Essentially the new device is a bridge to heart transplantation for patients suffering from end-stage heart failure.
The PMA includes data from HeartWare's critical ADVANCE clinical trial, an Investigational Device Exemption ("IDE") study intended to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Zacks Initiates Trans-Pacific Aerospace Company (TPAC) At Outperform

Posted: 03 Jan 2011 07:05 AM PST

Ken Nagy, CFA

Trans-Pacific Aerospace Company (TPAC) intends to monetize its proprietary technology.  TPAC and its joint venture partners intend to manufacture aerospace quality standard spherical bearings, rod ends and bushings (bearings) in China. Growth in China is two-fold: First the number of planes in China is expected to jump from 1,256 today to 4,330 over the next 20 years.  With 3,000 spherical bearings on each plane the market is substantial. Second the offsets or … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: EURUSD Tests Support At 1.3310 Area

Posted: 03 Jan 2011 07:03 AM PST

The 200 bar MA on the 5 minute chart provided resistance on the way up today (green line in the chart above). It is providing support now along with the 100 bar MA (blue line).  A break will target 1.3276. On the topside watch 1.3365 to find … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/CAD Hits 32-month Low As Crude Oil Prices Surge

Posted: 03 Jan 2011 06:53 AM PST

Forex Pros – The U.S. dollar tumbled to a 32-month low against its Canadian counterpart on Monday, as crude oil, Canada's largest export, rallied after data showing manufacturing in two of Asia's biggest economies remained robust.

USD/CAD hit 0.9904, the pair's lowest since May 5, 2008; the pair subsequently consolidated at 0.9903, tumbling 0.77%.

The pair was likely to find support at 0.9818, the low of May 21 2008, and resistance at 1.0006, the high of December 31.

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


U.S. Stocks Broadly Higher Ahead Of ISM Data; Dow Jones Up 1.01%

Posted: 03 Jan 2011 06:52 AM PST

Forex Pros – U.S. stocks posted sharp gains after the open on Monday amid low volumes in the first trading session of 2011, as investors awaited the release of key data on U.S. manufacturing activity.

During early U.S. trade, the Dow Jones Industrial Average jumped 1.01%; the S&P 500 index added 1.06%, while the Nasdaq Composite index surged 1.66%.

In the financial sector, shares in Bank of America soared 4.65% after the lender said it settled outstanding mortgage repurchase claims with … [visit site to read more] or compare Best Credit Cards and Best CD Rates


FX Levels And Outlooks 1.3.2011 – USD/CAD AUD/USD Gold

Posted: 03 Jan 2011 06:44 AM PST

USD/CAD – Breaks Below 2010 Lows; Eyes 2008 LowsResistance : 1.00-0.9980; R2: 1: 1.0020; R2: 1.0050; R3: 1.01-1.0110
Support 1: 0.9750; S2: 0.92

- Due to the significance of the 1.0/0.9980 support, and the lack of pivots between parity and the lows of 0.9750, there could be an acceleration. There could still be a pullback, and then if the market sees an inability to return in to the range, then a test of the 2008 lows near 0.9750 is in sight, as well as the 0.9200 area, which was where the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Yields Surge As Risk Appetite Starts Anew

Posted: 03 Jan 2011 06:44 AM PST

Most fixed income markets remain closed until observation for New Year holidays comes to a close later in the week. Of the major markets open only U.S. treasuries and German bonds are in motion. The response to New Year enthusiasm for economic recovery couldn’t contrast more between the two with the cost of government borrowing on the rise in North America while German bunds are attracting inflows from defensive investors wary of a mountain of maturing debt falling due in the early part of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


CEG To Sell 550 MW Gas Plant

Posted: 03 Jan 2011 06:35 AM PST

Constellation Energy Group Inc. (NYSE:CEG) signed an agreement to sell its Quail Run natural gas plant of 550 MW in west Texas to High Plains Diversified Energy Corporation (HPDEC) for $185.3 million. High Plains Diversified Energy is a municipal utility formed by the West Texas Municipal Power Agency. The agreement of sale of the 550 MW plant is contingent upon High Plains Diversified Energy secure the requisite proceeds from its intended sale of municipal bonds.
Constellation Energy manages and … [visit site to read more] or compare Best Credit Cards and Best CD Rates


AMB Stays Neutral

Posted: 03 Jan 2011 06:35 AM PST

We maintain our 'Neutral' recommendation on AMB Property Corp. (NYSE:AMB), a real estate investment trust (REIT) that acquires, develops, operates and manages industrial real estate in North America, Asia and Europe.
AMB provides industrial distribution warehouse space in some of the busiest distribution markets of the world. The majority of the company's portfolio comprises high throughput distribution (HTD), which provides multiple options for quick movement and the distribution of goods … [visit site to read more] or compare Best Credit Cards and Best CD Rates


More Of PDP Biz For CVS Caremark

Posted: 03 Jan 2011 06:35 AM PST

Recently, CVS Caremark Corporation (NYSE:CVS) decided to acquire Universal American's (NYSE:UAM) Medicare Part D business for $1.25 billion, catering to about 1.9 million Prescription Drug Plan (PDP) members. Subsequent to this acquisition, CVS Caremark's Medicare Part D program will increase manifold as the company currently serves 1.2 million members. This is significant since the company's pharmacy benefit management (PBM) business has been recording disappointing performance for the past … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Swiss Franc: Under Pressure

Posted: 03 Jan 2011 06:20 AM PST

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


Australian Dollar: Under Pressure

Posted: 03 Jan 2011 06:20 AM PST

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


Canadian Dollar: Under Pressure

Posted: 03 Jan 2011 06:20 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: 03 Jan 2011 06:20 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: 03 Jan 2011 06:20 AM PST

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


Euro: Rebound

Posted: 03 Jan 2011 06:20 AM PST

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


State Tax Revenues Increased By More Than 6% In 2010, The Largest Incrase In More Than 10 Years

Posted: 03 Jan 2011 06:06 AM PST

Last week, I featured the recent Census Bureau report showing that state and local tax revenues increased by 5.21% in the third quarter this year compared to 2009, which is the largest quarterly increase since the fourth quarter of 2007 (see chart above).  Dennis Cauchon now reports in today’s USA Today that:

“Tax collections are surpassing projections, the clearest sign yet that state and local government finances are on the mend as the economy improves. Sharp rises in tax collections … [visit site to read more] or compare Best Credit Cards and Best CD Rates


PartnerRe Approves New Buyback

Posted: 03 Jan 2011 06:05 AM PST

The board of directors of  PartnerRe Ltd. (NYSE:PRE) authorized the company to buy back up to 7 million of its common shares in an effort to bolster the value for shareholders. The new authorization replaces the previous authorization of 7 million common shares approved by the board in September 2010.
In early December, the company spent $99.5 million to buy back 1.2834 million of common stock. PartnerRe has bought back 13.9 million common shares till date in 2010. We note that buying back … [visit site to read more] or compare Best Credit Cards and Best CD Rates


FX Levels And Outlooks 1.3.2011 – GBP/JPY EUR/JPY EUR/GBP

Posted: 03 Jan 2011 05:56 AM PST

GBP/JPY Sees Bullish Divergence
Resistance 1: 127.00; R2: 128; R3: 129.50
Support 125.50; Target if bearish attempt confirmed: 123.50

- The GBP/JPY is twisting now in a consolidation pattern seen with more detail in the 1H chart. In the 1H chart we see the RSI supported above 40, reflecting and suggesting a bullish attempt. We see that 127.00 held as resistance again, and the market should find resistance there, up to the 61.8% retracement level, which is just below 127.10.
- The RSI in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Dollar’s Early Gains Fading

Posted: 03 Jan 2011 05:54 AM PST

Despite the fact that several major market centers remain closed due to New Year holidays, the dollar has come out all guns blazing at the start of 2011. The dollar index is up while the exaggerated moves to start January mirror those at the end of December. As expected, single currency concerns over governments’ ability to raise debt make it an easy sell as volumes creep back into the market. Australia, New Zealand, Japan and Britain remain closed until later in the week, which means that … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Dollar Broadly Higher In Quiet Post-holiday Trade

Posted: 03 Jan 2011 05:39 AM PST

Forex Pros – The U.S. dollar was broadly higher against its major counterparts on Monday, during quiet post holiday trade in what looked like the final period of calm before a volatile start to 2011.

During European afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.34% to hit 1.3341.

Earlier Monday, data showed that manufacturing activity in the euro zone increased more than initially forecast in December, rising to an 8-month high as rising export orders … [visit site to read more] or compare Best Credit Cards and Best CD Rates


PetroChina Sheds Oil Storage Unit

Posted: 03 Jan 2011 05:35 AM PST

China-based integrated oil firm PetroChina Company (PTR) announced the sale of its wholly owned subsidiary PetroChina Guangxi Oil Storage Limited to the parent company China National Petroleum Corporation ("CNPC"). PetroChina will receive a total consideration of 2.11 billion yuan or $319.7 million in cash.
Per the terms of the agreement, PetroChina will transfer 100% equity of the Guangxi unit for the consideration, which is based on the net asset value of the transferred company.
Apart … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Evergreen’s Reverse Stock Split

Posted: 03 Jan 2011 05:35 AM PST

To move ahead with its capital reorganization plan solar products manufacturer Evergreen Solar Inc. (ESLRD) has implemented a 1-for-6 reverse stock split, effective January 1, 2011. The reverse split will reduce the outstanding shares of the company to 35 million from the previous level of 209 million.
Besides the reverse stock split, other key elements in the capital reorganization plan include raising capital by selling up to $40,000,000 aggregate principal amount of new 4% Convertible … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/USD Trims Losses Ahead Of U.S. PMI Data

Posted: 03 Jan 2011 05:25 AM PST

Forex Pros – The pound trimmed losses against the U.S. dollar on Monday amid quiet trade as markets in London remained closed for the post New Years holiday and ahead of the release of key U.S. economic data.

GBP/USD retreated from 1.5446, the daily low, to hit 1.5506 during European afternoon trade, shedding 0.66%.

Cable was likely to find support at 1.5418, the low of December 31 and resistance at 1.5663, the high of December 31.

The greenback was supported by a string of strong U.S. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


FX Levels And Outlooks 1.3.2011 – EUR/USD GBP/USD USD/JPY

Posted: 03 Jan 2011 05:13 AM PST

EUR/USD Pulls Back up Against Head and ShoulderResistance 1: 1.3400-1.3425; R2: 1.35
Support 1: 1.3250; S2: 1.32-1.3210; S3: 1.3150

- The EUR/USD is in a bullish continuation stance after correcting the December rally with a head and shoulder and a decline to 1.3250 area.
- The market rallied from here (also fibonacci retracement level of 50%), back up to 1.3350. This tests 61.8% retracement of the decline from the top of the head and shoulder at 1.3425. A break above 1.3350 should suggest a … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/CHF Trims Losses As Exports Boost Euro Zone

Posted: 03 Jan 2011 05:03 AM PST

Forex Pros – The euro trimmed losses against the Swiss franc on Monday, but remained close to a record low after a report showed that rising export orders boosted the single currency bloc for the fourth month in a row.

EUR/CHF retreated from 1.2413, the pair's lowest since December 30 to hit 1.2465 during European afternoon trade, shedding 0.38%.

The pair was likely to find support at 1.2399, the low of December 30 and a euro-lifetime low and resistance at 1.257, the high of the same … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Pares Losses Amid Quiet Post Holiday Trade

Posted: 03 Jan 2011 04:23 AM PST

Forex Pros – The euro trimmed losses against the U.S. dollar on Monday amid thin, quiet trade as markets in London, the regions currency trading center, remained closed for the post New Year holidays.

EUR/USD retreated from 1.3249, the pair's lowest since December 29, to hit 1.3309 during European early afternoon trade, shedding 0.57%.

The pair was likely to find support at 1.3082, the low of December 29 and resistance at 1.3423, the high of December 31.

Earlier Monday, a report showed … [visit site to read more] or compare Best Credit Cards and Best CD Rates


EURUSD Poised To Test 50-Day SMA As Bullish Trend Remains Intact

Posted: 03 Jan 2011 03:45 AM PST

   

Fundamental Headlines
• Investors Forecast: Sunny With Chance of Overheating – Wall Street Journal
•Big Firms Poised to Spend Again – Wall Street Journal
• Asian Markets Get off to Strong Start – Financial Times
•Stocks Rally, Dollar Strengthens on Economic Outlook- Bloomberg
•China's Inflation May Cool With Factory Slowdown – Bloomberg
EURUSD: The final Euro-zone PMI manufacturing report jumped to 57.1 in December amid expectations of 56.8 to mark the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Betrayed By Their Government

Posted: 03 Jan 2011 03:39 AM PST

What is the single greatest issue facing our nation today?
Is there any doubt that the last two plus years have been some of the most challenging in our nation's history? Who is to say where we may be currently without the massive federal support of our markets and our economy? That said, what will be the long term costs of that aforementioned support? At the state level, many years–if not decades–of financial malfeasance have left future generations with bills of almost incomprehensible … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/JPY Rebounds From 8-week Low In Thin Holiday Trade

Posted: 03 Jan 2011 03:36 AM PST

Forex Pros – The U.S. dollar snapped a ten-day losing streak against the yen on Monday, rebounding from an eight-week low, amid thin trade volumes as major international markets remained closed for post New Year holidays.

USD/JPY hit 80.94 during European late morning trade, the pair's lowest since November 9; the pair subsequently consolidated at 81.44, gaining 0.35%.

The pair was likely to find support at 80.53, the low of November 9 and resistance at 82.46, the high of December … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Singapore Stock Market Update For Monday 03 January

Posted: 03 Jan 2011 01:46 AM PST

Morning Highlights

Singapore market started steady after the New Year break, with STI up 21.18 points to open at 3211.22.

Singapore’s growth rebounded in the fourth quarter as manufacturing surged 28.2%, boosted by a robust expansion in pharmaceutical output

Watch out for Economic News Today:

China Non-Manufacturing PMI (Dec) [China Dec non-manufacturing PMI rises to 56.5]

U.S ISM Manufacturing (Dec)

Corporate Announcements:

OSIM acquired a 19% stake in Hong Ming (China) Co. Ltd. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stock Investor Sentiment: How To Interpret?

Posted: 01 Jan 2011 07:29 PM PST

As most market followers are aware, investors are overly enthusiastic regarding the prospects for equities in the coming year.  Extremes in investor sentiment are being touted by some as a bearish sign that is a precursor to market correction.  On the other hand, those of a bullish persuasion tend to rationalize this important data point by nervously resorting to such sayings as “stocks climb a wall of worry” or “markets can stay irrational longer than you can stay solvent” or the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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