Wednesday, February 9, 2011

DailyMarkets.com - Forex – EUR/USD Down During The Asian Session

DailyMarkets.com - Forex – EUR/USD Down During The Asian Session

Forex – EUR/USD Down During The Asian Session

Posted: 09 Feb 2011 06:05 PM PST

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

EUR/USD was trading at 1.3713, down 0.15% at time of writing.

The pair was likely to find support at 1.3509, Monday's low, and resistance at 1.3744, Wednesday's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.16% to hit 0.8515 and EUR/JPY rising 0.11% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

A Negative Divergence

Posted: 09 Feb 2011 06:00 PM PST

In my latest post for DailyFinance, “With Job Openings Falling, Trouble Could Be Coming,” I highlight a divergence between two employment-related trends that suggest the nonfarm payroll numbers reported each month are poised to head south — once again.

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

Why The Republican Attack On “Job-Killing Regulations” Is Dumb

Posted: 09 Feb 2011 05:46 PM PST

Republicans aim to end all "job-killing regulations" — especially those that, according to House Speaker John Boehner, are "strangling" business with detailed requirements over health, safety, the environment, corporate governance and finance.
Here's another instance of where the White House's attempt to preempt Republican rhetoric (the President said last week his administration would root out all nonsensical and inefficient regulation) ends up legitimizing it — and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Up During Asian Trade

Posted: 09 Feb 2011 05:35 PM PST

Forex Pros – The Euro was higher against the Japanese Yen on Thursday.

EUR/JPY was trading at 113.19, up 0.09% at time of writing.

The pair was likely to find support at 111.25, Monday's low, and resistance at 113.20, today's high.

Meanwhile, the Euro was down against the U.S. Dollar and the British Pound, with EUR/USD shedding 0.16% to hit 1.3712 and EUR/GBP falling 0.12% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Homeownership Rate Falls To 13-Year Low

Posted: 09 Feb 2011 05:27 PM PST

The U.S. homeownership rate in the U.S. fell in the fourth quarter of 2010 to 66.5%, according to data recently released by the Census Bureau.  That was the lowest homeownership rate in 13 years, since the 66.4% rate in the fourth quarter of 1998, and it looks like it will probably fall further in the coming years.  

Conclusion: The political obsession with homeownership artificially raised homeownership in the short fun, but failed in the long run to stimulate homeownerhip, and in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down On Economic Data

Posted: 09 Feb 2011 04:55 PM PST

Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Thursday after the release of Australian data on Unemployment Rate.

AUD/USD was trading at 1.0085, down 0.40% at time of writing.

The pair was likely to find support at 1.0080, today's low, and resistance at 1.0190, Tuesday's high.

Earlier in the day, official data showed that Australia's unemployment rate remained unchanged at a seasonally adjusted 5.00% last month from 5.00% in the preceding month.

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

Australian Unemployment Rate Remains Unchanged

Posted: 09 Feb 2011 04:45 PM PST

Forex Pros – Australia's unemployment rate remained unchanged last month, official data showed on Thursday.

In a report, Australian Bureau of Statistics said that Australian unemployment rate remained unchanged at a seasonally adjusted 5.00%, from 5.00% in the preceding month.

Analysts had expected Australian unemployment rate to remain unchanged at 5.00% last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Employment Change Rises More-than-expected

Posted: 09 Feb 2011 04:45 PM PST

Forex Pros – Australian employment change rose more-than-expected last month, official data showed on Thursday.

In a report, Australian Bureau of Statistics said that Australian employment change rose to a seasonally adjusted 24.00K, from 2.30K in the preceding month.

Analysts had expected Australian employment change to rise 20.30K last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Up During The Asian Session

Posted: 09 Feb 2011 04:45 PM PST

Forex Pros – The British Pound was higher against the Japanese Yen on Thursday.

GBP/JPY was trading at 132.62, up 0.01% at time of writing.

The pair was likely to find support at 131.58, Tuesday's low, and resistance at 133.26, Monday's high.

Meanwhile, the British Pound was down against the U.S. Dollar and up against the Euro, with GBP/USD shedding 0.07% to hit 1.6090 and EUR/GBP falling 0.07% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

ETF News Update: The Chairman Speaks (EEM, FXI, UUP, USO, TLT, CSCO)

Posted: 09 Feb 2011 03:50 PM PST

Fed Chairman Ben Bernanke went to Capitol Hill today to meet with the newly formed House Budget Committee, commonly known on CNBC as "Ryan's Den," and affectionately named after its Republican Chairman Congressman Paul Ryan from Wisconsin who is an outspoken critic of the Fed policy widely known as quantitative easing.
Voicing his concerns over spawning inflation, Congressman Ryan went head to head with Dr. Bernanke over Fed policy, but Bernanke seemed to carry the day as he said that … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Day Ahead: Earnings, BoE Rate Decision, US Jobless Claims, Wholesale Inventories

Posted: 09 Feb 2011 03:50 PM PST

02/10/11 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

Forex – NZD/USD Down In Asian Trade

Posted: 09 Feb 2011 03:50 PM PST

Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Wednesday.

NZD/USD was trading at 0.7714, down 0.11% at time of writing.

The pair was likely to find support at 0.7668, Friday's low, and resistance at 0.7788, Tuesday's high.

Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.001% to hit 1.3105 and EUR/NZD rising 0.04% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Diodes Beats Estimates

Posted: 09 Feb 2011 03:40 PM PST

Diodes Incorporated (NASDAQ:DIOD) reported non- GAAP diluted earnings per share of 55 cents for the fourth quarter 2010, ahead of the Zacks Consensus Estimate of 50 cents. When compared on a sequential and year-over-year basis, earnings rose 7.8% and 52.8%, respectively.
For the fiscal year 2010, the company earned $1.82 per share, up from 55 cents in the previous year. The Zacks Consensus Estimate was $1.77.
Quarterly Performance
Revenue for the reported quarter of $163.8 million … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The “Time Cost” Of Food Has Fallen Since 2008

Posted: 09 Feb 2011 03:18 PM PST

Time Cost (in Minutes), Selected Food Items

Although this is not a complete analysis, the chart above (click to enlarge) provides some additional evidence that there is not a lot of food inflation right now in the U.S.  In the post below, there are a lot of comments that are critical of the way the BLS calculates inflation, with some general consensus that the BLS and CPI massively “under-report inflation.” 

So here’s an alternative approach to measuring food inflation by … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Hot Option Plays: Buyers Dissipating

Posted: 09 Feb 2011 03:17 PM PST

Cusick's Corner
The close was impressive, fighting back to almost breakeven but the volume continued to be light and this has raised a flag. Prices have been moving bullish over the last 10 sessions. However, the driving force [[buyers]] behind this move has been dissipating over the last 4 sessions which has started to make me a little nervous, especially with the markets overbought. There is also some concern with the Emerging Markets, EEM -1.07, which have been challenged again with rising … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Arris Beats Despite Lower Profit

Posted: 09 Feb 2011 03:10 PM PST

Arris Group Inc. (NASDAQ:ARRS) reported fourth quarter 2010 non-GAAP earnings per share of 19 cents moving ahead of the Zacks Consensus Estimate of 14 cents per share. EPS remained flat sequentially and declined 40.6% from year ago quarter. Reported EPS also had a 3 cents per diluted share of full year benefit related with Congress passing the R&D tax credit legislation in December 2010.
For full year 2010, the adjusted net income decreased 15.8% from full year 2009 to 85 cents. This, however, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cisco Misses, Crushed In After Market

Posted: 09 Feb 2011 02:35 PM PST

For the second quarter in a row, Cisco Systems (NASDAQ:CSCO) has posted slightly disappointing earnings numbers. Following cautious optimism before the earnings report after the bell, Cisco posted fiscal 2nd quarter 2011 GAAP earnings of 27 cents per share, below the Zacks Consensus Estimate of 30 cents per share.

Revenues were slightly higher than the Zacks consensus: $10.4 billion in the quarter from the expected $10.3 billion. Net revenues reached $1.52 billion in the quarter, down from $1.85 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market Ideas For Thursday, February 10

Posted: 09 Feb 2011 02:29 PM PST

( click to enlarge )

In line with my prior expectation, Toll Brothers, Inc. (NYSE:TOL)  moved up on Wednesday and is testing key resistance currently. Hence, fresh long position is recommended only if the stock climbs above $21.95 with tight stop-loss at $21.34.

( click to enlarge )

JDS Uniphase Corporation (NASDAQ:JDSU) had a strong day and broke through its resistance line. The volume confirmed the breakout, as it was greater than average. This is what strong stocks generally do in a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Solid Quarter At Andersons

Posted: 09 Feb 2011 02:10 PM PST

The Andersons Inc. (NASDAQ:ANDE) delivered earnings per share (EPS) of $1.39 in its fourth quarter ended December 31, 2010, ahead of the Zacks Consensus Estimate of 91 cents and the EPS of 88 cents in the year-ago quarter.
Total fourth-quarter revenue of $1,154 million was 26% above the year-ago revenue of $916 million and outperformed the Zacks Consensus Estimate of $1,112 million. The favorable year-over-year outcome was led by growth across all segments aside from the Turf & Specialty … [visit site to read more] or compare Best Credit Cards and Best CD Rates

If Stocks Are Right, The Economy’s In Trouble

Posted: 09 Feb 2011 02:06 PM PST

Let’s assume for the moment that equity investors know what they’re doing and can correctly anticipate the future (admittedly, both are very big assumptions).
Based on the following graph, which compares the ISM’s manufacturing index (a proxy for the U.S. economy as a whole) to the swings in share prices that occurred six months earlier, it’s a good bet that the already tepid recovery is poised to end.

To be sure, this relationship is not infallible (note the false signals that were given off … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up At The End Of U.S. Session

Posted: 09 Feb 2011 01:55 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Wednesday.

EUR/USD was trading at 1.3731, up 0.78% at time of writing.

The pair was likely to find support at 1.3509, Monday's low, and resistance at 1.3744, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.56% to hit 0.8528 and EUR/JPY rising 0.76% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Cerner EPS Beats On Solid Bookings

Posted: 09 Feb 2011 01:40 PM PST

Leading healthcare information technology ("HCIT") solutions provider Cerner Corp (NASDAQ:CERN) reported fourth quarter fiscal 2010 earnings per share of 82 cents, beating the Zacks Consensus Estimate of 80 cents and exceeding the year-ago earnings of 71 cents.
Net income surged 16.7% year over year to $70.6 million owing to solid bookings. For fiscal 2010, earnings of $2.78 also surpassed the Zacks Consensus Estimate of $2.75 and the year-ago earnings of $2.31. 
Revenues
Revenues for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sigma Surpasses Estimates

Posted: 09 Feb 2011 01:40 PM PST

Sigma-Aldrich Corp. (NASDAQ:SIAL) delivered fourth quarter earnings of 83 cents, which surpassed both the Zacks Consensus Estimate of 80 cents and prior-year earnings per share (EPS) of 80 cents.
The company incurred restructuring costs of 7 cents in the reported quarter leading to reported EPS of 76 cents compared with 75 cents in the year-ago quarter.
In the fiscal year 2010, reported EPS was $3.12. Excluding $0.19 of restructuring and impairment costs, fiscal 2010 adjusted diluted EPS was $3.31, … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AXIS Capital Surpasses Estimates

Posted: 09 Feb 2011 01:40 PM PST

AXIS Capital Holdings Limited (NYSE:AXS) reported fourth-quarter operating income of $1.41 per share, beating the Zacks Consensus Estimate of $1.22. Results however, fell short of $1.83 earned in the prior-year period. Operating income was $187 million in the quarter, down 32% from $276 million in fourth-quarter 2009.
Strong performance at Insurance as well as Reinsurance segments helped the company deliver better-than-expected results.
Including net realized investment gains of $77 million or 58 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ben On The Hill: Fiscal Policy

Posted: 09 Feb 2011 01:40 PM PST

Federal Reserve Chairman Ben Bernanke testified to the House Budget committee today. Below is the fiscal policy part his prepared testimony and my reaction/translation of it.

Fiscal Policy

“Fiscal policymakers…face significant challenges. Our nation’s fiscal position has deteriorated appreciably since the onset of the financial crisis and the recession. To a significant extent, this deterioration is the result of the effects of the weak economy on revenues and outlays, along with the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Down Toward The End Of U.S. Session

Posted: 09 Feb 2011 01:40 PM PST

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Wednesday.

USD/JPY was trading at 82.37, down 0.001% at time of writing.

The pair was likely to find support at 81.13, Friday's low, and resistance at 82.67, today's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.77% to hit 1.3731 and GBP/USD rising 0.20% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up Toward The End Of U.S. Session

Posted: 09 Feb 2011 01:25 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Wednesday.

EUR/USD was trading at 1.3729, up 0.76% at time of writing.

The pair was likely to find support at 1.3509, Monday's low, and resistance at 1.3744, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.54% to hit 0.8526 and EUR/JPY rising 0.77% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Markets Mixed At Close; Dow Jones Up 0.06%

Posted: 09 Feb 2011 01:10 PM PST

Forex Pros – U.S. stocks were mixed after the closing bell on Wednesday.

At the close of U.S. trade, the Dow Jones Industrial Average rose 0.06%, the S&P 500 index shed 0.28%, while the Nasdaq 100 index declined 0.11%.

Meanwhile, across the Atlantic, European stock markets closed lower. France's CAC 40 was down 0.43%; Germany's DAX shed 0.03%; Britain's FTSE 100 declined 0.64%; and the EURO STOXX 50 fell … [visit site to read more] or compare Best Credit Cards and Best CD Rates

McAfee Misses EPS, Top Line Grows

Posted: 09 Feb 2011 01:07 PM PST

McAfee Inc. (NYSE:MFE) reported fourth-quarter 2010 earnings per share of 47 cents, which was below the Zacks Consensus Estimate of 55 cents.
Revenue
McAfee Inc. reported fourth quarter revenue of $549.6 million, up 5.0% from $525.7 million in the year-ago quarter. The company ended the fourth quarter with moderate numbers and moves into 2011 with strong business momentum. Broad-based demand for the company's security solutions drove the company's revenues across its North America and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

RenaissanceRe Surpasses Estimates

Posted: 09 Feb 2011 01:07 PM PST

RenaissanceRe Holdings Ltd. (NYSE:RNR) reported its fourth-quarter income from continuing operations of $189.1 million or $3.47 per share, way ahead of the Zacks Consensus Estimate of $2.05. This also compares favorably with an income of $177.7 million or earnings of $2.82 per share in the year-ago quarter.
The fiscal 2010 operating earnings of the company were $536.4 million or $9.32 per share, exceeding the Zacks Consensus Estimate of $8.05. However, the results lagged the prior year income of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

02/09 FX Options Report

Posted: 09 Feb 2011 12:46 PM PST

EUR/USD turned higher, reversing earlier weakness amidst central bank expectations and inflation … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Up During The U.S. Session

Posted: 09 Feb 2011 12:45 PM PST

Forex Pros – The British Pound was higher against the U.S. Dollar on Wednesday.

GBP/USD was trading at 1.6096, up 0.17% at time of writing.

The pair was likely to find support at 1.6029, Tuesday's low, and resistance at 1.6185, Monday's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.53% to hit 0.8525 and GBP/JPY rising 0.21% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Agrium Reports Mixed 4Q

Posted: 09 Feb 2011 12:40 PM PST

Agrium Inc. (NYSE:AGU) recorded net earnings of $158 million or $1.00 per share in the fourth quarter of 2010, missing the Zacks Consensus Estimates by 13 cents per share. However, it exceeded the prior-year profit of $30 million or 19 cents per share. Including one-time charges, Agrium recorded net earnings of $175 million or $1.10 per share in the fourth quarter of 2010.
In fiscal year 2010, Agrium posted net earnings of $714 million or $4.52 per share ($731-million and $4.63 diluted earnings … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Closing Bell Market Monitor: DIS, KO, NYX, DSW

Posted: 09 Feb 2011 12:30 PM PST

02/09/11 The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ … [visit site to read more] or compare Best Credit Cards and Best CD Rates

DENTSPLY Beats By A Whisker

Posted: 09 Feb 2011 12:15 PM PST

Leading dental products maker DENTSPLY International (NASDAQ:XRAY) posted fourth-quarter fiscal 2010 adjusted earnings per share of 51 cents, a penny ahead of the Zacks Consensus Estimate while surpassing the year-ago adjusted earnings of 48 cents.
For fiscal 2010, adjusted earnings of $1.90 a share beat the Zacks Consensus Estimate of $1.89 and exceeded the year-ago earnings of $1.84.
Adjusted earnings exclude one-time items such as restructuring and acquisition-related charges as well as … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Down In U.S. Trade

Posted: 09 Feb 2011 12:05 PM PST

Forex Pros – The U.S. Dollar was lower against the Canadian Dollar on Wednesday.

USD/CAD was trading at 0.9945, down 0.07% at time of writing.

The pair was likely to find support at 0.9832, Friday's low, and resistance at 0.9978, Tuesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.71% to hit 1.3722 and GBP/USD rising 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Long Term Trendline Support Test In TLT Bond Fund

Posted: 09 Feb 2011 11:56 AM PST

If you've been watching bond prices over the last few weeks, you may have thought there was nothing to stop price from going off a cliff.
However, price has now pulled back to a critical long-term trendline level that traders are watching very closely to see if the selling stops here… or breaks the major trendline.
Let's see it first from the Monthly Perspective:

If you connect all the yellow highlighted long-term swing lows, you get a trendline that currently rests at the $85 per share … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rare Earth Deficiencies In US: A Proposed Emergency Plan

Posted: 09 Feb 2011 11:35 AM PST

A serious lack of rare earth elements is endemically afflicting the world body politic. It has been brought on by a chronic combination of American short-sightedness and Chinese need for self-survival.
It is well known that rare earths — a group of 17 atomic elements — are essential for the survival of cutting-edge industry in such diverse areas as nuclear launch missiles hybrid autos, wind turbines, solar devices, oncological applications, night-vision devices and petroleum … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Economy Is Getting Better…headwinds Ahead”

Posted: 09 Feb 2011 11:33 AM PST

02/09/11 DME Securities’ Alan Valdes weighs in on Bernanke’s testimony, and merger talks between NYSE Euronext and the Deutsche … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The What? And Why? Of Rare Earth Metals

Posted: 08 Feb 2011 10:00 PM PST

Over the past few months, there's been a buzz surrounding rare earth metals. These are metals such as europium, lanthanum, neodymium and 14 others found in small concentrations attached to other metals and resource deposits. They're actually not that rare, just expensive and difficult to pull out of the ground.
These naturally occurring elements are essential in everything from wind turbines to lasers to iPads.
Rare earths are a conundrum for the environmentally conscious—they hold the … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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