Wednesday, November 30, 2011

DailyMarkets.com - Capital One Credit Card Rewards Redemption Rises In Third Quarter

DailyMarkets.com - Capital One Credit Card Rewards Redemption Rises In Third Quarter


Capital One Credit Card Rewards Redemption Rises In Third Quarter

Posted: 30 Nov 2011 07:34 AM PST

Capital One (NYSE:COF) credit card customers seem to be preparing ahead of time for their holiday shopping by redeeming their rewards for holiday gifts. A survey recently released by Capital One with details about its customers’ redemption of rewards confirms that redemptions have risen drastically since the beginning of the year.

According to the survey, 15.8% of its cardholders have started redeeming their points for holiday gifts, out of which gift cards were ranked the number one … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: EURUSD Shoots Up On Central Bank Action

Posted: 30 Nov 2011 06:34 AM PST

The EURUSD has surged higher on the back of the central banks coordinated action to boost liquidity.  The price has moved above the 200 hour MA (green line in the chart above) and topside trendline resistance at the 1.3422 level. The next key target comes in at the 1.3511 level. This is the 50% of the move down from the November 11th high to the low reached on November 25th.
Looking at the 5 minute chart below, the price surge corrected to the 38.2% of that unsustainable leg higher.  … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: GBPUSD Tests 50% Retracement At The 1.5756

Posted: 30 Nov 2011 06:34 AM PST

Like the EURUSD the GBPUSD is testing the 50% of the move down from the November 11th high to the low at the 1.5756 level.  A break above opens the door for further upside momentum in today's trading.
Looking at the 5 minute chart, any corrections off the resistance above will have traders eyeing the 1.5722 level as first support. If that level gives way look for the test of 1.5689. This is the 38.2% of the move up from the low right before the announcement.  If these levels … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: USDJPY Trading “between The Goal Posts”

Posted: 30 Nov 2011 06:34 AM PST

The USDJPY is trading "between the goal posts" as defined by the 100 and 200 hour MAs. The 200 hour MA comes in at the 77.33 level. the 100 hour MA comes in at the 77.69 level.  Traders will look to use the levels to define risk on trades in the volatile market.  Look for momentum on a break in either direction … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: USDCHF Falls With The Dollars Decline

Posted: 30 Nov 2011 06:34 AM PST

The USDCHF did not escape the dollar selling today. The price fall has already moved below the initial low reached on the first leg down but the break to new lows did find some buyers.  The price correction of the 2nd leg down, stalled at the 38.2% of that move (see chart above) and held but failing to extend may have the profit takers attention. A move above the 0.9096 to 0.9106 level would be sign a temporary bottom may be in place today. Holding below, should keep the bears … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


+167,000 Auto Jobs By 2015, Thanks To 2-Tier Pay That Is Deflating The Unsustainable Wage Bubble

Posted: 30 Nov 2011 06:21 AM PST

NEW YORK TIMES (DETROIT) — “Employment in the auto industry will return to prerecession levels by 2015, with carmakers and their suppliers adding about 167,000 jobs by then, according to estimates by an auto industry research firm.

The job growth would represent a 28 percent increase over current levels but would still replace only about a third of the jobs lost in the last decade. And much of the increase is made possible by labor agreements ratified this fall that allow the Detroit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Stock Market News Briefs: AMR, Central European Distribution, Delta Air Lines (New), Corning Incorporated, Inhibitex, JetBlue Airways, Transocean, Research In Motion Limited, Susser Holdings, Tiffany & Co.

Posted: 30 Nov 2011 06:11 AM PST

    Tiffany (NYSE:TIF) posted fiscal 3Q EPS of $0.70 surpassing the Zacks Consensus Estimate of $0.60 per share. Revenue for the quarter came in at $821.8 million

    Central European Distribution Corp (NASDAQ:CEDC) revealed in a regulatory filing that Russian Standard Vodka has purchased a 9.9% stake in the Polish Vodka producer company. Following this development, shares of the company surged 29.12%

    Share prices of Blackberry maker Research In … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Apple Beaten In Aussie Court

Posted: 30 Nov 2011 06:05 AM PST

In an unprecedented turn of events, Apple Inc. (NASDAQ:AAPL) suffered a rare defeat as the Australian Federal Court cleared the way for Samsung Electronics to sell its Galaxy 10.1 tablets in Australia.
However, Samsung has got to wait until the termination of the existing ban period, or, December 2, 2011, before its Galaxy tablets hit the stores. Besides, Apple has the option of appeal in a higher Court for re-imposing the ban, post the expiry of the stipulated ban period.
In October this year, an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Newont Halts Peru Project

Posted: 30 Nov 2011 05:50 AM PST

Gold Miner Newmont Mining Corp. (NYSE:NEM) has entered into an agreement with the government of Peru to suspend construction activities at the Conga project in Peru for the safety of employees and community members. Conga is Newmont's $4.8 billion gold project.
During the past month, the Conga project and the near-by Yanacocha operations have experienced intermittent work stoppages as a result of ongoing protests in the region. Local political leaders want to stop the mine from being built, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Canada GDP Rises In Line With Expectations In September

Posted: 30 Nov 2011 05:44 AM PST

Forexpros – Canada’s economy expanded broadly in line with market expectations in September, official data showed on Wednesday.

In a report, Statistics Canada said gross domestic product rose by a seasonally adjusted 0.2% in September, in line with expectations.

The previous month's figure was revised up to a 0.4% gain from a previously reported 0.3% rise.

Canada's economy grew at an annualized rate of 3.0% in September, outstripping expectations for a 2.7% increase, following growth … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Q3 Non-farm Productivity Rises Less-than-expected

Posted: 30 Nov 2011 05:39 AM PST

Forexpros – U.S. non-farm productivity rose less than initially expected in the third quarter, official data showed on Wednesday.

In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 2.3% in the third quarter, compared to preliminary data which showed a 3.1% increase.

Analysts had expected non-farm business sector labor productivity to rise by 2.6% in the three months to September 30.

The report showed that unit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Mechel Inks Deal With BelAZ

Posted: 30 Nov 2011 05:35 AM PST

Russian mining company Mechel OAO (NYSE:MTL) inked a deal with Belarus-based BelAZ OAO, following their agreement-in-principle in August 2011.
As per the partnership agreement, BelAZ is expected to set up production of cargo platforms on the dump trucks and further certify a Mechel subsidiary as a BelAZ service center in the Russian Federation. The financial details of the transaction were not disclosed.
The pact, expected to run for 10 years, was signed at a session of the Supreme State Council … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Dollar Falls Sharply After Surprise Central Bank Move

Posted: 30 Nov 2011 05:29 AM PST

Forexpros – The U.S. dollar turned sharply lower against its major counterparts on Wednesday, after six major central banks announced a coordinated move to enhance the capacity to provide liquidity to the global financial system.

During European afternoon trade, the dollar was sharply lower against the euro, with EUR/USD rallying 0.93% to hit 1.3438.

In a joint statement, the Federal Reserve, the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. ADP Non-farm Payrolls Rise More-than-expected

Posted: 30 Nov 2011 05:22 AM PST

Forexpros – U.S. non-farm private employment increased more-than-expected in November, posting the largest monthly gain since December 2010, industry data showed on Wednesday.

In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 206,000 in November, blowing past expectations for an increase of 130,000.

The previous month's figure was revised up to a gain of 130,000 from a previously reported increase of 110,000.

The increase in November … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


AIR Wins Airlift Support Extension

Posted: 30 Nov 2011 05:16 AM PST

As the whole world and government gears up to defend itself and prepare their aerospace and defense industries to shield against looming terrorism, AAR Corp. (NYSE:AIR),  one of the most trustworthy companies named by Forbes magazine, has been chosen to Extend Airlift Support for the Department of Defense (DoD) operations of U.S. Military.
The United States Transportation Command (USTRANSCOM) has exercised two renewal options for AAR to provide airlift support in Afghanistan through October … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Disney Banks On Low Bond Rates

Posted: 30 Nov 2011 05:05 AM PST

The global credit markets have recently undergone significant disruption creating difficulties for the companies to obtain financing at reasonable terms. However, the scenario is quite different for the U.S. blue chip companies, at least for now, as they can access cheap funding despite the turmoil.
Further, borrowing costs are within 60 basis points range from its record low of 3.45% in August, facilitating the companies to obtain easy financing at compelling terms.
Thus, to bank upon the low … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Sugar Trims Losses On China Bank Move, Downside Risks Remain

Posted: 30 Nov 2011 04:55 AM PST

Forexpros – Sugar futures pared losses on Wednesday, bouncing off the daily low after China's central bank announced that it will lower reserve requirement ratios for lenders, while ongoing concerns over ample global supplies continued to weigh.

On the ICE Futures U.S. Exchange, sugar futures for March delivery traded at USD0.2343 pound during European afternoon trade, dropping 0.5%.

It earlier fell by as much as 1.35% to trade at a daily low of USD0.2316 a pound.

Sugar prices came off … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Stocks Higher On China Move; DAX Up 1.54%

Posted: 30 Nov 2011 04:43 AM PST

Forexpros – European stock markets turned higher on Wednesday, erasing earlier losses after China said it was cutting its banks’ reserve requirement ratios, supporting risk appetite.

During European morning trade, the EURO STOXX 50 jumped 1.02%, France's CAC 40 advanced 0.88%, while Germany's DAX 30 surged 1.54%.

The Peoples Bank of China announced earlier that it plans to cut banks reserve requirement ratios by 0.5%, in an effort to help boost liquidity and support the world's second … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Almost Unchanged In Risk-off Trade

Posted: 30 Nov 2011 04:15 AM PST

Forexpros – The pound was almost unchanged against the U.S. dollar on Wednesday, as risk sentiment remained soft amid ongoing concerns over the deepening debt crisis in the euro zone.

GBP/USD pulled back from 1.5527, the days low to hit 1.5590 during European early afternoon trade, dipping 0.03%

Cable was likely to find support at 1.5468, Tuesday's low and an almost seven-week low and resistance at 1.5628, the days high.

Investor sentiment was boosted after the Peoples Bank of China … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – Euro Erases Losses Against Dollar But Upside Limited

Posted: 30 Nov 2011 03:46 AM PST

Forexpros – The euro erased losses against the U.S. dollar on Wednesday, after the People's Bank of China announced that it will cut banks reserve requirement ratios but the single currency's gains were capped amid concerns over the deepening debt crisis in the region.

EUR/USD pulled back from 1.3260, the pair's lowest since November 25, to hit 1.3331 during European late morning trade, inching up 0.13%.

The pair was likely to find support at 1.3211, the low of November 25 and a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.S. Futures Mixed After Bank Downgrades; Dow Jones Up 0.28%

Posted: 30 Nov 2011 03:32 AM PST

Forexpros – U.S. stock futures pointed to a mixed open on Wednesday, amid sustained concerns over the euro zone's debt crisis after Standard & Poor's cut its rating on 15 global banking companies.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.28%, S&P 500 futures signaled a 0.22% gain, while the Nasdaq 100 futures indicated a 0.58% loss.

On Tuesday, euro zone finance ministers agreed on a plan to expand the region's bailout fund, but said … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Corn Futures Slump On EU Fears, U.S. Demand Concerns

Posted: 30 Nov 2011 03:19 AM PST

Forexpros – Corn futures fell sharply on Wednesday, pulling back from the previous session's one-week high as ongoing concerns over the euro zone's debt crisis and worries about increasing competition for U.S. corn exports weighed.

On the Chicago Mercantile Exchange, corn futures for March delivery traded at USD5.9800 a bushel during European morning trade, dropping 1.1%.

It earlier fell by as much as 1.7% to trade at a daily low of USD5.9512 a bushel.

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


Forex – EUR/GBP Steady As Markets Eye E.Z. Debt Plans

Posted: 30 Nov 2011 03:04 AM PST

Forexpros – The euro was almost unchanged against the pound on Wednesday, amid sustained concerns over the euro zone's debt crisis as the region's finance ministers prepared to meet for a second day of talks.

EUR/GBP hit 0.8528 during European morning trade, the daily low; the pair subsequently consolidated at 0.8534, inching down 0.04%.

The pair was likely to find support at 0.8518, the low of November 18 and resistance at 0.8574, the high of November 15.

On Tuesday, euro zone finance … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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