DailyMarkets.com - European Stocks Plunge On Growth Fears; DAX Tumbles 3.5%

---

• European Stocks Plunge On Growth Fears; DAX Tumbles 3.5%
• Crude Oil Futures Drop Amid Concerns Over Demand Outlook
• Forex – Dollar Mixed Vs. Rivals, Swiss Franc Drops On SNB
• U.K. Retail Sales Rise Less-than-expected In July
• Forex – GBP/USD Edges Lower Ahead Of U.K. Retail Sales Data
• Gold Futures Re-approach USD1,800 On Global Economic Outlook
• Forex – NZD/USD Slumps Amid Reduced Appetite For Riskier Assets
• Forex – AUD/USD Edges Lower Amid Global Growth Fears
• Asia Stocks Drop; Nikkei Falls 1.25% As Strong Yen Weighs
• Forex – EUR/USD Dips As Concerns Over EU Debt Woes Linger
• Forex – EUR/USD Dips As Concerns Over EU Debt Woes Linger
• Previewing Friday’s US Fundamental Releases – CPI, Claims, Existing Home Sales, Philly Fed
• Aggressive Growth Stock: Penn National Gaming
• Growth & Income Stock: McGrath RentCorp
• Momentum Stock: Heartland Payment Systems, Inc.
• Bear Of The Day: Marathon Oil (MRO)
• Bull Of The Day: CBS Corporation (CBS)
• Forex – EUR/USD Down During The Asian Session
• Forex – GBP/USD Down In Asian Trade
• UK Retail Sales – 3 Scenarios And Its Importance To UK Datastream
• Gold Futures Advance In Mid-day Asian Trade
• Buffett Pays Too Little Tax, Not Because He’s So Rich But Because The U.S. Tax System Is So Poor
• Forex – USD/JPY Edges Lower In Mid-day Asian Trade
• Asian Stocks Retreat In Early Trade; Nikkei Falls 0.7%
• We’re Number…?
• Crude Oil Futures Surrender Gains In Early Asian Trade
• Gold Daily Fundamental Analysis For August 18, 2011
• Natural Gas Daily Fundamental Analysis For August 18, 2011
• Crude Oil Daily Fundamental Analysis For August 18, 2011
• Oil Technical Analysis For August 18, 2011
• Natural Gas Technical Analysis For August 18, 2011
• Gold Technical Analysis For August 18, 2011

European Stocks Plunge On Growth Fears; DAX Tumbles 3.5% Posted: 18 Aug 2011 02:46 AM PDT Forexpros – European stock markets were sharply lower on Thursday, as lingering concerns over the euro zone&rsquo;s sovereign debt crisis and mounting fears over the global economic outlook prompted investors to shun riskier assets.<br /><br />During European morning trade, the EURO STOXX 50 sank 3%, France&rsquo;s CAC 40 dropped 2.5%, while Germany&rsquo;s DAX 30 plunged 3.5%.<br /><br />Concerns over the economic outlook for the euro zone were underscored … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Drop Amid Concerns Over Demand Outlook Posted: 18 Aug 2011 02:18 AM PDT Forexpros – Crude oil futures were down on Thursday, slumping to a two-day low as lingering concerns over the global economic outlook weighed on future oil-demand expectations, while a stronger U.S. dollar also weighed.<br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at USD86.41 a barrel during European morning trade, dropping 1.4%.&nbsp; <br /><br />It earlier fell as much as 1.5% to trade at USD86.31 a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Mixed Vs. Rivals, Swiss Franc Drops On SNB Posted: 18 Aug 2011 01:44 AM PDT Forexpros – The U.S. dollar was mixed against its major counterparts on Thursday, amid ongoing concerns over the global economic outlook, while the Swiss franc dropped amid speculation the Swiss National Bank was intervening in the market.<br /><br />During European morning trade, the greenback was down against the euro, with EUR/USD gaining 0.11% to hit 1.4442.<br /><br />The single currency found support after ratings agency Standard &amp; Poor&rsquo;s … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

U.K. Retail Sales Rise Less-than-expected In July Posted: 18 Aug 2011 01:38 AM PDT Forexpros – Retail sales in the U.K. rose less-than-expected in July, official data showed on Thursday.<br /><br />In a report, the U.K. Office for National Statistics said retail sales rose by 0.2% in July, below expectations for a 0.3% gain. <br /><br />The previous month&rsquo;s figure was revised up to a gain of 0.8% from a previously reported 0.7% increase.<br /><br />Year-over-year, retail sales were flat in July, disappointing expectations for a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Edges Lower Ahead Of U.K. Retail Sales Data Posted: 18 Aug 2011 01:15 AM PDT Forexpros – The pound edged lower against the U.S. dollar on Thursday, as markets awaited key U.K. data on retail sales to help gauge the strength of the U.K. economic recovery.<br /><br />GBP/USD hit 1.6492 during early European trade, the daily low; the pair subsequently consolidated at 1.6525, declining 0.23%.&nbsp; <br /><br />Cable was likely to find support at 1.6322, the low of August 16 and resistance at 1.6591, Wednesday&rsquo;s high and a three-month … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Re-approach USD1,800 On Global Economic Outlook Posted: 18 Aug 2011 01:05 AM PDT Forexpros – Gold futures were up for a fourth day on Thursday, trading just below the psychologically-important level of USD1,800-an-ounce as ongoing concerns over the global economic outlook boosted the precious metal ahead of the release of key U.S. inflation data.<br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,796.85 a troy ounce during early European morning trade, gaining … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Slumps Amid Reduced Appetite For Riskier Assets Posted: 18 Aug 2011 12:45 AM PDT Forexpros – The New Zealand dollar snapped five consecutive days of gains against its U.S. counterpart on Thursday, slumping to a two-day low as concerns over global economic growth prospects weighed on demand for higher-yielding assets.<br /><br />NZD/USD hit 0.8308 during late Asian trade, the lowest since August 16; the pair subsequently consolidated at 0.8321, falling 0.64%.<br /><br />The pair was likely to find short-term support at 0.8270, the low of August 16 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Edges Lower Amid Global Growth Fears Posted: 18 Aug 2011 12:36 AM PDT Forexpros – The Australian dollar was down against its U.S. counterpart on Thursday, as mounting concerns over the global economic outlook weighed on demand for growth-linked currencies.<br /><br />AUD/USD hit 1.0468 during late Asian trade, a daily low; the pair subsequently consolidated at 1.0482, slumping 0.65%.<br /><br />The pair was likely to find support at 1.0350, the low of August 15 and short-term resistance at 1.0601, Wednesday&rsquo;s high and a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Asia Stocks Drop; Nikkei Falls 1.25% As Strong Yen Weighs Posted: 18 Aug 2011 12:22 AM PDT Forexpros – Asian stock markets were broadly lower on Thursday, amid ongoing concerns over prospects for global economic growth, while shares in Japanese exporters were pressured by a strong yen.<br /><br />During late Asian trade, Hong Kong’s Hang Seng Index sank 1.4%, Australia&rsquo;s ASX/200 Index fell 1.22%, while Japan&rsquo;s Nikkei 225 Index retreated 1.25%.<br /><br />The U.S. dollar continued to trade below levels that prompted the Bank of Japan to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Dips As Concerns Over EU Debt Woes Linger Posted: 18 Aug 2011 12:21 AM PDT Forexpros – The euro edged lower against the U.S. dollar on Thursday, as ongoing concerns over the sovereign debt crisis in the euro zone weighed on the single currency ahead of the release of key U.S. inflation data.<br /><br />EUR/USD hit 1.4382 during late Asian trade, the daily low; the pair subsequently consolidated at 1.4407, slipping 0.13%.<br /><br />The pair was likely to find support at 1.4250, the low of August 15 and short-term resistance at 1.4516, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Dips As Concerns Over EU Debt Woes Linger Posted: 18 Aug 2011 12:14 AM PDT Forexpros – The euro edged lower against the U.S. dollar on Thursday, as ongoing concerns over the sovereign debt crisis in the euro zone weighed on the single currency ahead of the release of key U.S. inflation data.<br /><br />EUR/USD hit 1.4382 during late Asian trade, the daily low; the pair subsequently consolidated at 1.4407, slipping 0.13%.<br /><br />The pair was likely to find support at 1.4250, the low of August 15 and short-term resistance at 1.4516, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Previewing Friday’s US Fundamental Releases – CPI, Claims, Existing Home Sales, Philly Fed Posted: 17 Aug 2011 11:16 PM PDT CPI – Tepid Inflation Expected The July inflation report is not expected to show a big surge in inflation. The cost of living in the US probably barely rose, with estimates of 0.2% increase on the month, which would be the smallest gain in three months. We've had lower energy and other commodity costs over the past few months which is helped to bring down both producer and inflation pressures. For the US, the weak economy could mean the Fed needs to step in with further stimulated … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Aggressive Growth Stock: Penn National Gaming Posted: 17 Aug 2011 11:05 PM PDT Penn National Gaming (NASDAQ:PENN) might look like a gamble thanks to recent volatility, but taking a look at the future growth it looks like a solid bet. Company Description Penn National Gaming owns and operates gaming and racing facilities, focusing on slot machines. The company operates 26 facilities and is in the process of developing 2 more. Jackpot On Jul 21 Penn National Gaming reported second quarter results that showed a 15% increase in revenues, to $688 million. That was more than $5 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Growth & Income Stock: McGrath RentCorp Posted: 17 Aug 2011 11:05 PM PDT Estimates have been rising for McGrath RentCorp (NASDAQ:MGRC) after the company recently turned a triple play: a positive revenue surprise, a positive earnings surprise, and increased earnings guidance from management. It is a Zacks #1 Rank (Strong Buy) stock. McGrath offers solid earnings growth potential and also pays a dividend that yields a stellar 3.6%. Valuation is reasonable too, with shares trading below their historical median. Company Description McGrath RentCorp is a business to business … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Momentum Stock: Heartland Payment Systems, Inc. Posted: 17 Aug 2011 11:05 PM PDT Heartland Payment Systems, Inc. (NYSE:HPY) has been a top performer in 2011, gaining more than 25% in spite of recently pulling back with the market. With a strong Q2 results in hand and rising estimates, this Zacks #1 Rank stock offers plenty of momentum. Company Description Heartland Payment Systems, Inc. provides bank card payment processing services in the United States and Canada. The company was incorporated in 2000 and has a market cap of $788 million. Shares of HPY recently jumped into a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bear Of The Day: Marathon Oil (MRO) Posted: 17 Aug 2011 11:05 PM PDT We are downgrading Marathon Oil Corp. (NYSE:MRO) shares to Underperform from Neutral following the company’s second quarter miss and its clouded post-split outlook. Near-term upstream production profile remains muted without any meaningful large volume additions for the next few years. The weaker-than-expected performance at the Droshky development in deepwater Gulf of Mexico and the suspension of the low cost Libyan operations are also causes for concern. Additionally, the transfer of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bull Of The Day: CBS Corporation (CBS) Posted: 17 Aug 2011 11:05 PM PDT CBS Corporation’s (NYSE:CBS) second-quarter 2011 earnings of $0.58 per share beat the Zacks Consensus Estimate of $0.45 and surged more than double from $0.25 earned in the year-ago quarter, buoyed by a favorable operating environment and cost-containment efforts. The quarter saw a step up in both the advertising marketplace as well as margins. Management remains confident about continued growth momentum in fiscal 2011 and 2012. However, the significant potential risk is CBS’s high dependence on … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Down During The Asian Session Posted: 17 Aug 2011 10:55 PM PDT Forexpros – The Euro was lower against the U.S. Dollar on Thursday.<br/><br/> EUR/USD was trading at 1.4420, down 0.05% at time of writing.<br/><br/> The pair was likely to find support at 1.4238, Monday&rsquo;s low, and resistance at 1.4518, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.06% to hit 0.8726 and EUR/JPY rising 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Down In Asian Trade Posted: 17 Aug 2011 10:25 PM PDT Forexpros – The British Pound was lower against the U.S. Dollar on Thursday.<br/><br/> GBP/USD was trading at 1.6514, down 0.18% at time of writing.<br/><br/> The pair was likely to find support at 1.6257, Monday&rsquo;s low, and resistance at 1.6590, Wednesday&rsquo;s high.<br/><br/> Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.07% to hit 0.8714 and GBP/JPY falling 0.12% to hit … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

UK Retail Sales – 3 Scenarios And Its Importance To UK Datastream Posted: 17 Aug 2011 09:30 PM PDT A key risk event for the GBP overnight will be the UK retail sales report for July. Results to be released at 4:30AM ET (8:30AM GMT). We preview this release. Fundamental Release: UK Retail Sales (July) Time: 4:30AM ET (8:30AM GMT) Forecast: 0.3% Pair(s): GBP/USD and other GBP Crosses Provided by: Office of National Statistics   Importance of UK Retail Sales Event to UK Datastream & GBP: The retail sales report is important because it can give us a very good gauge for demand … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Futures Advance In Mid-day Asian Trade Posted: 17 Aug 2011 08:06 PM PDT Forexpros – <p style=”font: normal normal normal 12px/normal Helvetica; margin: 0px”><span style=”letter-spacing: 0px”>Forexpros &ndash; Gold futures moved higher in Asian trade for the third straight day Thursday, as rising U.S. producer prices raised concerns of possible heightened inflationary pressures &nbsp;</span></p> <p style=”font: normal normal normal 12px/normal Helvetica; min-height: 14px; margin: 0px”><span style=”letter-spacing: … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Buffett Pays Too Little Tax, Not Because He’s So Rich But Because The U.S. Tax System Is So Poor Posted: 17 Aug 2011 07:48 PM PDT Here’s a Canadian perspective from Jack Mintz on Warren Buffett’s proposal that the “billionaire-friendly Congress” stop coddling him and his friends by raising tax rates on the “mega-rich”: “Although a brilliant investor, Warren Buffett's recent prognosis to hike taxes on the rich is off the mark and, frankly, naive public policy. He is right that tax reforms of some sort will be needed to deal with the U.S. deficit since the fiscal hole is just too large now. With federal-state-local … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – USD/JPY Edges Lower In Mid-day Asian Trade Posted: 17 Aug 2011 07:38 PM PDT Forexpros – <p style=”font: normal normal normal 12px/normal Helvetica; margin: 0px”><span style=”letter-spacing: 0px”>Forexpros – The U.S. dollar moved marginally lower against the Japanese yen in Asian trade Thursday,&nbsp;following a lackluster performance overnight on Wall Street and U.S. data showing higher inflationary trends than expected.</span>&nbsp;</p><p style=”font: normal normal normal 12px/normal Helvetica; min-height: 14px; margin: … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Asian Stocks Retreat In Early Trade; Nikkei Falls 0.7% Posted: 17 Aug 2011 07:12 PM PDT Forexpros – <p style=”font: normal normal normal 12px/normal Helvetica; margin: 0px”><span style=”letter-spacing: 0px”>Forexpros – Asian stocks eased lower Thursday, calmed by a timid overnight session on Wall Street with Japanese exporters falling on a stronger yen.</span></p> <p style=”font: normal normal normal 12px/normal Helvetica; min-height: 14px; margin: 0px”>&nbsp;</p> <p style=”font: normal normal normal 12px/normal Helvetica; margin: … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

We’re Number…? Posted: 17 Aug 2011 05:43 PM PDT   (Image: source) Hold on…let me start with the fingers on my left hand…one, two, three, four, five…now on to the other …six, seven, eight, nine, ten…and then to my right foot…eleven, twelve, thirteen…aw, forget it — we’re just too far down the list to matter. Didn’t we used to need only one hand — or just a few fingers – to figure out where we stood in comparison to everyone else? “Can the US Compete if Only 32 Percent of Its Students Are … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Futures Surrender Gains In Early Asian Trade Posted: 17 Aug 2011 05:43 PM PDT Forexpros – <p style=”font: normal normal normal 12px/normal Helvetica; margin: 0px”><span style=”letter-spacing: 0px”>Forexpros – Crude oil futures retreated in Asian trade Thursday, getting an earlier spike on reports that U.S. gasoline supplies fell to their lowest level since June of 2009.</span></p> <p style=”font: normal normal normal 12px/normal Helvetica; min-height: 14px; margin: 0px”>&nbsp;</p> <p style=”font: normal normal normal … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Daily Fundamental Analysis For August 18, 2011 Posted: 17 Aug 2011 01:51 AM PDT By CommoditiesMansion.com Gold prices were little changed on Wednesday, as investors remained concerned that talks between French President Nicolas Sarkozy and German Chancellor Angela Merkel won't solve the European debt crisis, which supported gold prices on Wednesday to hold near its record high set last week. The uncertainty that continued to surround the outlook of the European debt crisis continues to provide gold prices with strong bullish momentum, while signs of slowing global growth … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Daily Fundamental Analysis For August 18, 2011 Posted: 17 Aug 2011 01:51 AM PDT By CommoditiesMansion.com Natural gas prices extended the drop on Wednesday, as speculations of mild weather conditions in East and Midwest of the United States led to expectations of falling demand for power-plant fuel, which put downside pressure on natural gas prices. Moreover, analysts expect the EIA to show that natural gas stockpiles increased by 47 billion cubic feet, above the 5-year average of an increase of 43 billion cubic feet. The outlook of the U.S. economy and the prospects of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Daily Fundamental Analysis For August 18, 2011 Posted: 17 Aug 2011 01:50 AM PDT By CommoditiesMansion.com Crude oil prices rose on Wednesday, as rising demand for higher yielding assets provided crude oil prices with strong bullish momentum, as crude oil prices rose before the EIA report for crude oil inventories. Nonetheless, the EIA report showed that crude oil stockpiles increased by 4.2 million barrels, well above median estimates of a drop by 500,000 barrels, and compared with the prior drop of 5.2 million barrels, which put crude oil prices under pressure. Traders … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Oil Technical Analysis For August 18, 2011 Posted: 17 Aug 2011 12:56 AM PDT By CommoditiesMansion.com   Light Sweet Crude The CL contract found itself rising, and then falling as the Crude Oil Inventories number came in higher than expected on Wednesday. This means that less oil is being used in the US, which means demand, could be faltering. However, the release of the Strategic Petroleum Reserve is factored into this number, so the results may be meaningless. None the less, we have a shooting star for the daily candle, formed just after a hammer. The signal … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Technical Analysis For August 18, 2011 Posted: 17 Aug 2011 12:55 AM PDT By CommoditiesMansion.com   The natural gas markets rose slightly on Wednesday as traders continue to question the break of the $4 mark that happened last week. The sell signal is a break of the lows from that time period, and to be honest – there is far more natural gas than is needed. Because of this, we ultimately feel that prices go lower in this market. However, it looks like the area we are trading in at the moment may make this market stagnate for the short term. A break of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Gold Technical Analysis For August 18, 2011 Posted: 17 Aug 2011 12:54 AM PDT By CommoditiesMansion.com   The gold markets rose again on Wednesday, but not as much as we have seen lately. These are odd times in which we live, as an $8 move in the gold markets is now considered "light". This shows exactly how much has changed over the last couple of years as it wasn't that long ago a $10 move in gold was massive. In this environment, $25 moves in a day are no longer uncommon. Looking at the charts, the $1,800 level seems to be slowing the ascent of this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

You are subscribed to email updates from DailyMarkets.com To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610