Wednesday, November 16, 2011

DailyMarkets.com - Crude Oil, Gold May Rise As ECB Bond Buying Stokes Risk Appetite

DailyMarkets.com - Crude Oil, Gold May Rise As ECB Bond Buying Stokes Risk Appetite


Crude Oil, Gold May Rise As ECB Bond Buying Stokes Risk Appetite

Posted: 16 Nov 2011 02:47 AM PST

Talking Points

Crude Oil Rebound Hinted as ECB Steps into Bond Markets
Gold Has Scope to Rise as Risk Rebound Weighs on US Dollar

WTI Crude Oil (NY Close): $99.37 // +1.23 // +1.25%
European shares are pushing higher, the Euro is on the upswing, and S&P 500 stock index futures have erased overnight losses to stand in positive territory, hinting crude oil prices are poised to advance as Wall Street comes online. The surge in optimism came as the average yield on benchmark 10-year bonds of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Eurozone Inflation Data As Expected

Posted: 16 Nov 2011 02:21 AM PST

CPI y/y at 3.0% and Core CPI y/y at 1.6%.
Eur/Usd trades at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


U.K. Claimant Count Change Rises Less-than-expected

Posted: 16 Nov 2011 01:44 AM PST

Forexpros – The number of people claiming unemployment benefits in the U.K. rose less-than-expected in October, while the unemployment rate rose to the highest level since 1996, official data showed on Wednesday.

In a report, the U.K. Office for National Statistics said that the claimant count rose by a seasonally adjusted 5,300 in October, significantly below expectations for an increase of 21,000.

The previous month's figure was revised down to 13,400 from a previously reported increase … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


European Stocks Higher As Bond Stress Eases; DAX Up 0.81%

Posted: 16 Nov 2011 01:41 AM PST

Forexpros – European stock markets were higher on Wednesday, as Italian borrowing costs fell back below the 7% threshold viewed as unsustainable after the European Central Bank was seen buying up bonds.

During European morning trade, the EURO STOXX 50 jumped 1.22%, France's CAC 40 advanced 0.91%, while Germany's DAX 30 climbed 0.81%.

Market sentiment was hit earlier, after French 10-year bond yields rose to euro-era highs on Tuesday while Italian 10-year bond yields rose to near … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Crude Oil Futures Pare Losses After Italian Yields Decline

Posted: 16 Nov 2011 01:28 AM PST

Forexpros – Crude oil futures pared losses on Wednesday, re-approaching the previous session's three-month high as speculation that the European Central Bank was buying Italian and Spanish government debt helped lift sentiment.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January traded at USD99.08 a barrel during European morning trade, shedding 0.35%.

It earlier fell by as much as 1.05% to trade at a daily low of USD98.44 a barrel. Prices rose to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Pares Losses Amid E.Z. Debt Worries

Posted: 16 Nov 2011 01:09 AM PST

Forexpros – The pound pared losses against the U.S. dollar on Wednesday, easing back from one-month low but worries over potential debt contagion in core euro zone economies continued to weigh on risk appetite.

GBP/USD pulled back from 1.5754, the pair’s lowest since October 20 to hit 1.5794 during European morning trade, still down 0.18%.

Cable was likely to find support at 1.5680, the low of October 20 and resistance at 1.5867, the high of September 15.

The pound came under pressure … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Gold Futures Decline As Stronger Dollar Weighs

Posted: 16 Nov 2011 12:51 AM PST

Forexpros – Gold futures declined on Wednesday, as a stronger U.S. dollar and fears that the euro zone's sovereign debt crisis was spreading to the region's core economies prompted investors to sell their gold holdings and raise liquidity.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,774.65 a troy ounce during early European morning trade, slumping 0.42%.

It earlier fell by as much as 1.05% to trade at a daily low of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – USD/JPY Edges Lower In Risk-off Trade

Posted: 16 Nov 2011 12:37 AM PST

Forexpros – The U.S. dollar was down against the yen on Wednesday, hovering close to a two-week low as sustained worries over debt contagion in the euro zone supported safe haven demand.

USD/JPY hit 76.94 during early European trade, the daily low; the pair subsequently consolidated at 76.97, edging down 0.07%.

The pair was likely to find support at 76.65, the low of October 19 and resistance at 77.45, the high of October 17.

Concerns over the deepening debt crisis in the euro zone grew … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – NZD/USD Drops As E.Z. Debt Concerns Weigh

Posted: 16 Nov 2011 12:24 AM PST

Forexpros – The New Zealand dollar tumbled to a six-week low against its U.S. counterpart on Wednesday, as ongoing concerns over the debt crisis in the euro zone weighed on demand for riskier assets.

NZD/USD hit 0.7628 during late Asian trade, the pair’s lowest since October 5; the pair subsequently consolidated at 0.7690, shedding 0.29%.

The pair was likely to find support at 0.7552, the low of October 5 and resistance at 0.7796, the high of October 7.

Italian 10-year bond yields rose to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Spanish Economic Growth Stagnates In Q3

Posted: 16 Nov 2011 12:16 AM PST

Forexpros – Spain's economy grounded to a halt in the third quarter, adding to fears the country will slip back to a recession, official data showed on Wednesday.

In a report, Spain's National Statistics Institute said the country's gross domestic product was flat in the three months to September, disappointing expectations for growth of 0.2%.

Spain's economy grew by an unrevised 0.2% in the previous quarter.

Year-on-year, Spanish GDP grew at an annualized rate of 0.8%, broadly in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – AUD/USD Falls To 4-day Low On E.Z. Concerns

Posted: 16 Nov 2011 12:03 AM PST

Forexpros – The Australian dollar tumbled to a four-day low against its U.S. counterpart on Wednesday, as investors remained concerned over potential debt contagion to core economies in the euro zone.

AUD/USD hit 1.0061 during late Asian trade, the pair’s lowest since November 10; the pair subsequently consolidated at 1.0090, dropping 0.85%.

The pair was likely to find support at 0.9905, the low of October 11 and resistance at 1.0231, the high of October 13.

Concerns over the deepening … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Asia Stocks Drop As EU Contagion Fears Grow; Nikkei Down 0.9%

Posted: 15 Nov 2011 11:47 PM PST

Forexpros – Asian stock markets were broadly lower on Wednesday, as investors dumped riskier assets amid growing fears that the euro zone's sovereign debt crisis will spread to the region's core economies.

During late Asian trade, Hong Kong’s Hang Seng Index tumbled 2.4%, Australia's ASX/200 Index shed 0.89%, while Japan's Nikkei 225 Index slumped 0.92%.

Appetite for riskier assets was dented after Italy’s 10-year bond yields rose above 7% on Tuesday, a level widely viewed as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Tumbles To 5-week Low On Contagion Fears

Posted: 15 Nov 2011 11:33 PM PST

Forexpros – The euro tumbled to a five-week low against the U.S. dollar on Wednesday, as the bond yields of core euro zone states came under pressure, boosting demand for safe haven assets.

EUR/USD hit 1.3430 during late Asian trade, the pair's lowest since October 10; the pair subsequently consolidated at 1.3442, tumbling 0.73%.

The pair was likely to find support at 1.3360, the low of October 7 and resistance at 1.3538, the day's high.

Concerns over sovereign debt contagion to core … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


BoJ Holds Key Interest Rate Steady

Posted: 15 Nov 2011 11:24 PM PST

Forexpros – The Bank of Japan on Wednesday kept its benchmark interest rate unchanged, in a widely expected move and cut its economic outlook citing the effects of a stronger yen.

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


Bull Of The Day: Sunoco Logistics, LP (SXL)

Posted: 15 Nov 2011 11:00 PM PST

Buoyed by a robust operating performance and favorable growth prospects, we are maintaining our Outperform recommendation on Sunoco Logistics Partners, LP (NYSE:SXL). Recent results for Sunoco Logistics have been driven by strength in its crude pipeline system and terminals facilities.
Importantly, the partnership has grown its cash distribution for twenty-six consecutive quarters. With its stable fee-based revenue, geographically-diverse assets and strong business fundamentals, Sunoco Logistics … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Momentum Stock: Kirby Corp

Posted: 15 Nov 2011 11:00 PM PST

Kirby Corp (KEX) just jumped into a new all-time high after reporting another strong quarter that came in ahead of expectations. That pushed estimates higher, providing more support and momentum for this Zacks #1 Rank stock.
Company Description
Kirby Corp, through its subsidiaries, provides marine transportation and diesel engine services in the United States. The company was founded in 1969 and has a market cap of $3.62 billion.
Kirby was already having a great year before strong Q2 results … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bear Of The Day: Gentiva Health Services (GTIV)

Posted: 15 Nov 2011 11:00 PM PST

Gentiva Health Services’ (NASDAQ:GTIV) third-quarter 2011 earnings lagged the Zacks Consensus Estimate, on the back of high interest payments as well as increasing operating expenses, thereby leading to a net loss and a negative operating cash flow. Reimbursement rate cuts and divestitures have led to reduced earnings guidance for 2011.
Ratings downgrade and legal trouble were the other downsides. Overall, the future outlook for Gentiva does not look very promising.
Our six-month target price of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Growth & Income Stock: Parker Hannifin Corporation

Posted: 15 Nov 2011 11:00 PM PST

Parker Hannifin Corporation (NYSE:PH) recently reported record sales and earnings for the first quarter of its fiscal 2012.
Management also raised its guidance for 2012, prompting analysts to revise their estimates higher too, and sending the stock to a Zacks #2 Rank (Buy).
Parker has also been returning value to its shareholders through stock buybacks and dividend hikes. It currently yields a solid 1.7%. Valuation looks attractive too with shares trading at just 11x forward earnings.
Company … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Aggressive Growth Stock: FARO Technologies, Inc

Posted: 15 Nov 2011 11:00 PM PST

Increasing margins, a surging top line, and a better than expected quarter are just a few things FARO Technologies, Inc. (NASDAQ:FARO) has going for it. Valuations may be a bit high, but that doesn’t mean there isn’t money to be made with this Zacks #1 Rank (Strong Buy).
Company Description
FARO Tech makes computerized measurement and imaging devices. Products are used to make and analyze 3-D models for manufacturing and other specialty applications.
Top Line Swells 43%
FARO Tech reported quarterly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – EUR/USD Down During The Asian Session

Posted: 15 Nov 2011 10:55 PM PST

Forexpros – The Euro was lower against the U.S. Dollar on Wednesday.

EUR/USD was trading at 1.3443, down 0.72% at time of writing.

The pair was likely to find support at 1.3433, today's low, and resistance at 1.3807, Monday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.37% to hit 0.8526 and EUR/JPY falling 0.71% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex – GBP/USD Down In Asian Trade

Posted: 15 Nov 2011 10:25 PM PST

Forexpros – The British Pound was lower against the U.S. Dollar on Wednesday.

GBP/USD was trading at 1.5763, down 0.38% at time of writing.

The pair was likely to find support at 1.5756, today's low, and resistance at 1.6093, Friday's high.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.32% to hit 0.8531 and GBP/JPY falling 0.44% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Amazing Time Lapse View Of Earth From Space

Posted: 15 Nov 2011 08:49 PM PST

Earth | Time Lapse View from Space, Fly Over | NASA, ISS.

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


Happy 40 Year Anniversary Information Age 2.0

Posted: 15 Nov 2011 08:24 PM PST

INTEL — “The microprocessor has been the engine of the digital revolution that has changed our society dramatically over the past few decades, democratizing access to information and making for a more equalitarian world. This year Intel celebrates the 40th anniversary of the microprocessor and the 40th birthday of the Intel® 4004 which was the first customer-programmable microprocessor to become available on the commercial market.”

MP: After the invention of the printing press in the 15th … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: Euro Makes New November Lows

Posted: 15 Nov 2011 07:57 PM PST

In a relatively uneventful Asian session, lacking any significant data we have seen the EURUSD pair make new November lows, currently trading in the middle of the 1.34 handle. The pair is currently trading on the very bottom of the 4hr Bollinger Band and from the chart below we see that trendlines have acted as a strong indicator over the past few weeks and the break lower leaves a large area to fill which could be done very abruptly toward early October … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Forex Trading: USDHKD Breaks Through

Posted: 15 Nov 2011 07:57 PM PST

The USDHKD tops we have been reviewing proved bullish helped by some risk off sentiment, this has sent the pair north and it could move toward September highs. Looking at the daily chart below we see the pair moved above the 50% retracement and has met some resistance here at the 200 day moving … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Even In A Sub-Par Jobless Recovery, There Are Labor Shortages In The U.S. And Around The World

Posted: 15 Nov 2011 07:28 PM PST

1. Wall Street Journal article “The $200,000-a-Year Mine Worker” (HT: Bob Wright):

“Demand for [workers] willing to work 12-hour days in sometimes dangerous conditions, while living for weeks in dusty small [mining] towns, is huge.

“It’s a historical shortage,” says Sigurd Mareels, director of global mining for research firm McKinsey & Co. Not just in Australia, but around the world. In Canada, example, the Mining Industry Council foresees a shortfall of 60,000 to 90,000 workers by 2017. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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