Tuesday, July 17, 2012

DailyMarkets.com - Hot Option Plays: Fed Chief Speaks

DailyMarkets.com - Hot Option Plays: Fed Chief Speaks

Hot Option Plays: Fed Chief Speaks

Posted: 17 Jul 2012 11:54 AM PDT

Cusick’s Corner 07-17-2012
The market has pulled back, giving up most of the early morning run. This started as the much hyped meeting with the Fed Chief was getting pressed on QE. The pullback did halt the move in the dollar, UUP, to the upside while gold, GLD, started to hold up. I expect the choppy action to continue but should stay in a range. Right now the ball is in the bear camp, if the Fed Chief does not tip his hand as he continues to get pressed on QE, the bears could use that as … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Meyers: “Nice Trading Range…ceiling To This Market”

Posted: 17 Jul 2012 11:30 AM PDT

07/17/12 DME Securities’ Warren Meyers weighs in on Bernanke’s testimony before the Senate Banking Committee and the latest earnings and economic data. The effect of the fiscal cliff and EU debt crisis are also … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Barclays Libor Scandal: The Complicit Regulators

Posted: 17 Jul 2012 09:40 AM PDT

Today's Wall Street Journal lead editorial, New York Fed to Barclays: 'Mm hmm', concludes,

. . . if this is really the epic deceit and crime we are now reading about, then either new evidence needs to come to light, or the regulators who smiled and nodded and "Okayed" and "Mm hmmed" through the panic years are complicit with the banks now in the dock. They had ample opportunity to shut down this behavior, but nothing released by the New York Fed or the Bank of England suggests … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hillary Clinton Talks US-Asia Relations

Posted: 17 Jul 2012 04:24 AM PDT

07/17/12 Secretary of State Hillary Rodham Clinton addresses the international media at a press conference after the ASEAN meetings where she discusses both economic and political … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cartoon Of The Day: Keynesian Economics

Posted: 17 Jul 2012 09:24 AM PDT

Too Expensive To Feed

Posted: 17 Jul 2012 08:47 AM PDT

Tuesday, July 17, 2012
The drought plaguing the US has taken its toll on the entire agricultural market and has resulted in skyrocketing food prices. Feedlot operations, who feed skinny cattle, have been some of the worst hit during the drought. Not only has their cost of feed risen to unsustainable levels, but beef demand has plummeted due to the high cost. The August Feeder Cattle chart shows prices in a virtual free-fall, resulting in a parabolic move lower. Typically, this would have many … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street Turns Lower On Bernanke

Posted: 17 Jul 2012 08:13 AM PDT

07/17/12 US stocks turned lower after Bernanke offered no clues on whether the Fed will offer additional stimulus measures, and painted a dismal picture of the U.S. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

June Industrial Production Highlights

Posted: 17 Jul 2012 08:01 AM PDT

The Federal Reserve released its report today on Industrial Production in June, here are some highlights: 

1. Overall industrial output increased by 0.4%% in June on a monthly basis, and by 4.7% on an annual basis, marking the 29th consecutive month of annual growth.

2. Annual increases were especially strong in June for business equipment (12.8%), motor vehicles and parts (26.3%), oil and gas well drilling (8.7%), and overall manufacturing (5.6%), especially for durable manufactured … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Above $89 On Iran, Fed Hopes

Posted: 17 Jul 2012 02:53 AM PDT

07/17/12 Front month crude prices were trading above $89 a barrel Tuesday as Fed stimulus hopes and Iranian tensions kept prices … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dollar Holds On To Slight Gains Ahead Of Bernanke

Posted: 17 Jul 2012 02:50 AM PDT

07/17/12 The dollar had held on to slight gains Tuesday morning as investors await Fed Chairman Ben Bernanke’s testimony for hints of further monetary … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Builder Confidence Rises To A 5-Year High In June, With The Largest Monthly Increase Since 2002

Posted: 17 Jul 2012 07:25 AM PDT

The National Association of Home Builders reports today that:

“Builder confidence in the market for newly built, single-family homes rose six points to 35 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for July, released today (see chart above). This is the largest one-month gain recorded by the index in nearly a decade (since September 2002), and brings the HMI to its highest point since March of 2007.

"Builder confidence increased by solid margins in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stocks Gaining Ahead Of Bernanke

Posted: 17 Jul 2012 02:16 AM PDT

07/17/12 Stocks were in positive territory to start Tuesday morning following strong earnings from Goldman Sachs and as investors await testimony from Federal Reserve Chairman Ben … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Dollar Consolidates Near Lowest Level In Two-Weeks

Posted: 17 Jul 2012 06:58 AM PDT

Fundamental Headlines
- Fed Shifts Focus to Jobs as Unemployment Stalls Above 8% – Bloomberg
- US Industrial Production Increases in Sign of Resilience – Bloomberg
- Gasoline Prices Dampen Consumer Inflation – Reuters
- Five Things to Watch for in Bernanke Testimony – WSJ
- Pentagon Bulks Up Defenses in the Gulf – WSJ
Asian/European Session Summary
Price action was relatively muted in the overnight session, again, as significant fundamental event risk near the start of the US cash … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Central Bank News Link List – July 17, 2012

Posted: 17 Jul 2012 06:48 AM PDT

    Here’s today’s Central Bank News link list, click through if you missed the previous link list. The list is updated during the day with the latest news about central banks so readers don’t miss any important developments.

BoE’s King tells how Bob Diamond took a bullet (Reuters)
Five things to watch for in Bernanke testimony (WSJ)
Kansas City Fed’s George: Fed policy ‘tremendously accommodative’ (WSJ)
Europe’s crises casting shadow on Swedish economy, Riksbank … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Canada Maintains Rate, Cuts Growth Forecast

Posted: 17 Jul 2012 06:21 AM PDT

    The Bank of Canada maintained its target for its key overnight interest rate at 1.0 percent, as widely expected, and repeated its statement from June that a modest withdrawal of the current “considerable monetary policy stimulus” may be appropriate but the timing of this would depend on how the global and domestic economy develop.
    The BoC forecast that Canada’s economy would expand by 2.1 percent this year, 2.3 percent next year and 2.5 percent in 2014 and reach … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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