Thursday, October 27, 2011

DailyMarkets.com - Crude Oil Futures Up Sharply After EU Summit Deal

DailyMarkets.com - Crude Oil Futures Up Sharply After EU Summit Deal


Crude Oil Futures Up Sharply After EU Summit Deal

Posted: 27 Oct 2011 02:52 AM PDT

Forexpros – Crude oil futures were up sharply on Thursday, as market sentiment was boosted after European leaders made a breakthrough in resolving the region's two-year old debt crisis.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at USD92.03 a barrel during European morning trade, surging 2.03%.

It earlier rose by as much as 2.25% to trade at a daily high of USD92.43 a barrel.

French President Nicolas Sarkozy said early Thursday that … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Edges Higher After EU Agreement

Posted: 27 Oct 2011 02:27 AM PDT

Forexpros – The pound edged higher against the U.S. dollar on Thursday, but concerns over the outlook for the U.K. economy saw that sterling’s gains were limited despite a broad-based risk rally.

GBP/USD hit 1.6035 during European morning trade, the daily high; the pair subsequently consolidated at 1.5987, edging up 0.08%.

The pair was likely to find support at 1.5890, the low of October 26 and resistance at 1.6082, the high of September 8.

Risk appetite was boosted after European leaders … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Stocks Surge On Debt Plan; DAX Up 3.28%

Posted: 27 Oct 2011 02:01 AM PDT

Forexpros – European stock markets rose sharply on Thursday, surging to a twelve-week high after European leaders announced a new plan to tackle Greece’s financial woes and avoid debt contagion in the region.

During European morning trade, the EURO STOXX 50 surged 3.36%, France's CAC 40 jumped 3.40%, while Germany's DAX 30 soared 3.28%.

European leaders said they had reached an agreement with private banks on a voluntary 50% reduction of Greece’s debt. The writedown will reduce … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Weaker Dollar Hovering Above Record Low Against Yen

Posted: 27 Oct 2011 01:49 AM PDT

Forexpros – The broadly weaker U.S. dollar was hovering just above a record low against the yen on Thursday, after European leaders reached an agreement with banks on a writedown of Greek debt.

USD/JPY hit 75.82 during European morning trade, the daily low; the pair subsequently consolidated at 75.86, shedding 0.40%.

The pair was likely to find short-term support at 75.70, Wednesday's low and the pair's all-time low and resistance at 76.31, Wednesday's high.

The dollar weakened … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold Futures Ease Off 1-month High After EU Reaches Debt Deal

Posted: 27 Oct 2011 01:44 AM PDT

Forexpros – Gold futures were down for the first time in five days on Thursday, easing off a one-month high as the safe haven appeal of the precious metal was dented after European leaders made a breakthrough in resolving the region's two-year old debt crisis.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,716.75 a troy ounce during early European trade, shedding 0.39%.

It earlier rose by as much as 0.52% to trade at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – AUD/USD Jumps To 7-week High On EU Plan

Posted: 27 Oct 2011 01:19 AM PDT

Forexpros – The Australian dollar rallied to a seven-week high against its U.S. counterpart on Thursday, as the unveiling of fresh measures to tackle Greece’s sovereign debt boosted demand for riskier assets.

AUD/USD hit 1.0554 during late Asian trade, the pair’s highest since September 9; the pair subsequently consolidated at 1.0590, jumping 1.85%.

The pair was likely to find support at 1.0312, the low of October 21 and resistance at 1.0660, the high of September 8.

Risk sentiment was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – NZD/USD Rallies To 3-day High On EU Deal

Posted: 27 Oct 2011 01:07 AM PDT

Forexpros – The New Zealand dollar was sharply higher against its U.S. counterpart on Thursday, rising to a three-day high as the announcement of fresh measures to tackle Greece’s sovereign debt boosted risk appetite.

NZD/USD hit 0.8088 during late Asian trade, the pair’s highest since October 24; the pair subsequently consolidated at 0.8107, jumping 1.22%.

The pair was likely to find support at 0.7913, the low of October 26 and resistance at 0.8193, the high of June 22.

European leaders … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Asia Stocks Rally After EU Deal; Nikkei Jumps 2%

Posted: 27 Oct 2011 12:52 AM PDT

Forexpros – Asian stock markets rallied on Thursday, as market sentiment was boosted after European leaders made a breakthrough in resolving the region's two-year old debt crisis.

During late Asian trade, Hong Kong’s Hang Seng Index surged 3.2%, Australia's ASX/200 Index rallied 2.5%, while Japan's Nikkei 225 Index jumped 2.05%.

French President Nicolas Sarkozy said early Thursday that European leaders reached an agreement with banks to take a 50% writedown on the face value of their … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Advances To 7-week High After EU Agreement

Posted: 27 Oct 2011 12:27 AM PDT

Forexpros – The euro rose to a seven-week high against the U.S. dollar on Thursday, after European leaders reached an agreement with banks to take a 'voluntary' 50% loss on the face value of their Greek debt.

EUR/USD hit 1.4038 during late Asian trade, the pair's highest since September 8; the pair subsequently consolidated at 1.4002, gaining 0.68%.

The pair was likely to find support at 1.3863, the days low and resistance at 1.4098, the high of September 8.

The agreement on Greek … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


BoJ Holds Key Interest Rate Steady, Announces More Easing

Posted: 27 Oct 2011 12:26 AM PDT

Forexpros – The Bank of Japan kept its benchmark interest rate unchanged, in a widely expected move and announced additional monetary easing on Thursday.

In a statement, the BoJ said it was keeping its benchmark interest rate unchanged between a range of 0.0% to 0.1%, broadly in line with expectations.

A statement on monetary policy released after the announcement showed that the Bank of Japan's nine-man policy board voted unanimously to maintain the interest rate at its current … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


RBNZ Leaves Interest Rate Unchanged At 2.50%

Posted: 27 Oct 2011 12:21 AM PDT

Forexpros – The Reserve Bank of New Zealand kept its benchmark interest rate unchanged for the fifth straight meeting in October, it announced on Thursday.

In a statement, the RBNZ said it was keeping its benchmark interest rate unchanged at 2.50%, broadly in line with expectations.

Commenting on the decision, RBNZ Governor Alan Bollard said, "As foreshadowed at the time of the September Monetary Policy Statement, there is a real risk that the European sovereign debt crisis could cause a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bull Of The Day: Alexion Pharmaceuticals (ALXN)

Posted: 26 Oct 2011 11:00 PM PDT

Alexion Pharmaceuticals’ (NASDAQ:ALXN) third quarter 2011 adjusted earnings of $0.32 per share breezed past the Zacks Consensus Estimate by $0.09 and the year-ago adjusted earnings by $0.11. Results were driven by increased revenues thanks to a strong performance by Soliris, Alexion’s sole marketed product. Following strong third quarter results, Alexion upped its guidance for 2011.
Our estimate is within the revised guidance range provided by the company. We are also impressed by the successful … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Momentum Stock: Tractor Supply

Posted: 26 Oct 2011 11:00 PM PDT

Tractor Supply Co (TSCO) recently spiked into a new all-time high after reporting awesome Q3 results that included a 12% earnings surprise. With estimates on the rise and a bullish growth projection, this Zacks #1 Rank stock offers momentum from the Heartland.
Company Description
Tractor Supply Company operates retail farm and ranch stores in the United States. The company was founded in 1938 and has a market cap of $5.2 billion.
We got an update on Tractor Supply’s business on October 20 with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Growth & Income Stock: People's United Financial, Inc.

Posted: 26 Oct 2011 11:00 PM PDT

Although many banks are still struggling to generate strong loan growth and credit quality, People’s United Financial, Inc. (NASDAQ:PBCT) has managed to buck this trend.
The company recently reported strong third quarter results marked by stellar organic loan growth and solid credit quality. Earnings per share more than doubled year-over-year and came in 12% ahead of the Zacks Consensus Estimate, prompting analysts to raise their estimates for the remainder of the year.
It is a Zacks #2 Rank (Buy) … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Aggressive Growth Stock: Signet Jewelers Ltd.

Posted: 26 Oct 2011 11:00 PM PDT

Signet Jewelers (NYSE:SIG) has been a bottom fishers delight the past couple weeks. But is the opportunity gone?
This Zacks #1 Rank (Strong Buy) is still showing a great earnings trend, but thanks to late-summer market woes the valuations are great too.
Company Description
Signet Jewelers operates over 1,800 retail jewelry stores, predominantly in the U.S under the “Kay Jewelers” and “Jared The Galleria Of Jewelry” brands.
Estimates Still Rising
Analysts have been actively raising estimates since … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bear Of The Day: Hospira, Inc. (HSP)

Posted: 26 Oct 2011 11:00 PM PDT

Hospira Inc.’s (NYSE:HSP) third quarter preliminary results were below expectations due to continued manufacturing problems at the company’s Rocky Mountain facility. The facility is expected to continue functioning below full capacity through the remainder of 2011. The additional costs for manufacturing remediation resulted in lost sales, inventory loss and lower service levels.
In addition, management cut its 2011 adjusted earnings guidance to $2.95-$3.05 from $3.90-$4.00. We have slashed our … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Up During The Asian Session

Posted: 26 Oct 2011 10:55 PM PDT

Forexpros – The Euro was higher against the U.S. Dollar on Thursday.

EUR/USD was trading at 1.3991, up 0.61% at time of writing.

The pair was likely to find support at 1.3800, Wednesday's low, and resistance at 1.4000, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.46% to hit 0.8744 and EUR/JPY rising 0.32% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Up In Asian Trade

Posted: 26 Oct 2011 10:25 PM PDT

Forexpros – The British Pound was higher against the U.S. Dollar on Thursday.

GBP/USD was trading at 1.6014, up 0.24% at time of writing.

The pair was likely to find support at 1.5891, Wednesday's low, and resistance at 1.6042, Wednesday's high.

Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.41% to hit 0.8740 and GBP/JPY falling 0.001% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Evidence Supports The Bears’ Case For The S&P 500

Posted: 26 Oct 2011 09:25 PM PDT

I am not one to discuss fundamentals or macro views, but this situation in Europe is beginning to morph into a media frenzy. Price action in the marketplace is changing rapidly in short periods of time based on the latest press releases coming from the Eurozone summit.
I cannot help but comment on the seemingly arbitrary actions coming from this high profile meeting. Nothing has happened that market participants were not already privy too. The European Union is going to strengthen their EFSF … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Usd/hkd Breaks Below Hourly Channel.

Posted: 26 Oct 2011 08:36 PM PDT

usd/hkd breaks below hourly channel which might provide a new resistance for the currency … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Interesting Angles Of Ascension In AutoZone AZO

Posted: 26 Oct 2011 08:30 PM PDT

AutoZone (AZO) is a stock I've been watching – and amazed by – for a while, mainly because it just doesn't seem capable of a full trend reversal!
Let's take a look at the strongly trending price action from 2010 to present, and note the change in "angular momentum" or "angles of ascension" (trendlines) and how the stock has behaved along the way.
Here's the "pure price" angle of ascension chart:

I've mentioned the chart concept of "Angular Momentum" in the past, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Loses Ground In Mid-day Asian Trade

Posted: 26 Oct 2011 08:13 PM PDT

Forexpros –
Forexpros – The U.S. dollar moved lower against its major counterparts in Asian trade Thursday, as investors shied away from the safe-haven greenback on hopes for a resolute agreement from European officials to tackle the region's debt crisis.

In mid-day Asian trade, the greenback was lower against the euro, with EUR/USD gaining 0.37% to hit 1.3957.

At a summit of European leaders in Brussels, European Council President Herman Van Rompuy said that finance ministers would … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/JPY Lower In Mid-day Asian Trade

Posted: 26 Oct 2011 07:37 PM PDT

Forexpros –
Forexpros – The U.S. dollar fell against the Japanese yen in Asian trade Thursday, as European officials grappled with details of a plan to comprehensively address the region's debt crisis.

In mid-day Asian trade USD/JPY hit 75.99, the pair's lowest since Wednesday; the pair subsequently consolidated at 76.05, easing down 0.16%.

The pair was likely to find support at 75.75, the all-time low set on Tuesday, and resistance at 77.45, the high of October 17.

At a summit of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Asian Stocks Edge Higher In Early Trade; Nikkei Adds 0.6%

Posted: 26 Oct 2011 07:07 PM PDT

Forexpros –
Forexpros – Asian stocks moved higher in Thursday trade, as regional markets moved between mild gains and losses on the overnight strength of Wall Street and hopes for progress from European leaders on settling the euro-zone's debt issue.

During early Asian trade, Hong Kong's Hang Seng Index rose 0.80% to 19,197.00, while Japan's Nikkei Index gained 0.58% to 8,799.50.

In Sydney, ASX Ltd. halted trading Thursday morning pending investigation of a technical issue.
The Topix … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Usd/hkd Is Testing The Top Of An Hourly Channel

Posted: 26 Oct 2011 06:34 PM PDT

usd/hkd is testing the top of an hourly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Euro Leaders Agree To 50% Greek Writedown

Posted: 26 Oct 2011 06:34 PM PDT

Euro leaders agree to 50% write-down for Greek debt. The Euro immediately popped toward recent highs in the middle of the 1.39 handle before trading back off. This is no surprise to the market and its going to take a lot more of a comprehensive plan to put investors minds at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – NZD/USD Falls In Early Asian Trade

Posted: 26 Oct 2011 06:27 PM PDT

Forexpros –
Forexpros – The New Zealand dollar moved lower against the U.S. dollar Thursday, following the decision by New Zealand's central bank to leave interest rates unchanged while leaving open the possibility of a rate hike if the global economy improves.

NZD/USD hit 0.7987 in early Asian trade, the pair's lowest since Wednesday; the pair subsequently consolidated at 0.7994, declining 0.22%.

The pair was likely to find support at 0.7901, last Friday's low, and resistance at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Marcellus Shale Gas Has Been Very Good For Pennsylvania’s Labor Market And Overall Economy

Posted: 26 Oct 2011 05:53 PM PDT

The Pennsylvania Department of Labor and Industry recently issued a labor market report for the state’s Marcellus Shale-producing region (which covers about 2/3 of the state, see map above), here are some highlights:

1. Employment in Pennsylvania’s core shale-related industries increased by 114% between 2008 Q1 and 2011 Q1. 

2.  There were 214,000 employees working in Marcellus Shale related industries during the first quarter of 2011.
 
3. Marcellus Shale related industries … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil Rises In Early Asian Trade

Posted: 26 Oct 2011 05:51 PM PDT

Forexpros –
Forexpros – Crude oil futures moved higher in Asian trade Thursday, following an unexpected rise in U.S. stockpiles coupled with hopes for progress among European leaders to comprehensively tackle the region's debt threat

On the New York Mercantile Exchange light, sweet crude futures for December delivery traded at USD91.17 a barrel during early Asian trade, gaining 1.09%, after hitting a daily low of USD90.72.

Earlier Wednesday, the Energy Information Administration reported … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold Rises In Early Asian Trade

Posted: 26 Oct 2011 05:13 PM PDT

Forexpros –
Forexpros – Gold futures rose to a new one-month high in Asian trade Thursday, in an atmosphere of market uncertainty surrounding a meeting of European leaders hoping to solve the region's debt crisis.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,723.55 a troy ounce during early Asian trade, their highest level since September 23, gaining 0.16%, after hitting a low of USDS1,720.55.

At a summit of European … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


AMZN: A New Game Plan

Posted: 26 Oct 2011 05:12 PM PDT

Sometimes, all we need the courage of our convictions in order to succeed (i.e., make money in the market). In July 2008, I put together something entitled “Amazon (AMZN): A Game” Plan”. The inspiration for the piece was the fact that AMZN “beat the Street’s consensus estimates” during the midst of the Financial Crisis meltdown. I took exception to the importance given to “consensus estimates” in a stock’s price trend; it may have impact for a day or a week but prices beyond that are … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/JPY Up On Economic Data

Posted: 26 Oct 2011 05:10 PM PDT

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Thursday after the release of Japanese data on Retail Sales.

USD/JPY was trading at 76.20, up 0.02% at time of writing.

The pair was likely to find support at 75.72, Wednesday's low, and resistance at 76.48, Monday's high.

Earlier in the day, official data showed that Japanese retail sales fell more-than-expected to a seasonally adjusted annual rate of -1.2% last month from -2.6% in the preceding month.

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


Daily FTSE Technical Update

Posted: 26 Oct 2011 09:31 AM PDT

By ForexMansion.com
by, James A. Hyerczyk
Having survived three tests this week of a major 50 percent level at 5448.40, the FTSE surged to a new high for the week on Wednesday. With support firmly in place, the support base that has formed helped to generate enough upside momentum to trigger an acceleration through the 61.8 percent level at 5568.36.

Now that the market has penetrated this price, look for traders to try to build support at this level. This price may act as a short-term pivot … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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