Thursday, July 19, 2012

DailyMarkets.com - Median Home Price Gain Of 8% Largest Since 2006

DailyMarkets.com - Median Home Price Gain Of 8% Largest Since 2006

Median Home Price Gain Of 8% Largest Since 2006

Posted: 19 Jul 2012 08:22 AM PDT

The National Association of Realtors released its report today on June home sales, and most of the media focus seems to be on the disappointing 4.5% drop in existing-home sales from 4.62 million units in May (revised upward from 4.55 previously reported) to 4.37 million homes in June.  For example, the WSJ reports that:

“Sales of previously occupied homes in the U.S. took an unexpected dip last month to the lowest level in eight months, a sign of weakness for a part of the economy that … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Stocks Fluctuate On Data

Posted: 19 Jul 2012 03:19 AM PDT

07/19/12 Wall Street opened higher, boosted by tech earnings. US stocks fluctuated following weakness in housing figures, the Philly Fed survey and leading … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Near $91.50 On Middle East Tensions

Posted: 19 Jul 2012 08:03 AM PDT

07/19/12 Front month crude rose above $91 a barrel on signs of increased demand in the U.S. and rising tensions in the Middle … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro At Lows Vs Dollar On German Comments

Posted: 19 Jul 2012 02:59 AM PDT

07/19/12 The euro currency hit session lows against the dollar Thursday morning after German Finance Minister Wolfgang Schaeuble said Spanish banks are liable for European aid to the nation’s … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earnings Help Lift Stocks

Posted: 19 Jul 2012 02:29 AM PDT

07/19/12 Global equities were rising Thursday morning as positive earnings kept investors seeking out riskier … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Geithner Vs Huntsman: Trash Vs Truth

Posted: 19 Jul 2012 07:26 AM PDT

I don't know about you, but I find myself often every morning discounting much of what I read in financial periodicals as mere noise if not outright trash. Trash? Yes, trash.
In my opinion, the garbage spewed is not a function of a broken sewer line, so to speak, but very much a function of individuals and institutions working hard to disguise or pollute a situation or a reality.
In the midst of the trash, I welcome and embrace commentaries that promote the truth.
I touched both ends of this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

South Africa Cuts Repo Rate 50 Bps To 5.0%

Posted: 19 Jul 2012 06:41 AM PDT

    The South African Reserve Bank cut its benchmark repurchase rate cut by 50 basis points to 5.0 percent in an attempt to help the country overcome the challenges of a slower global economy and continued downside risks from Europe’s debt crises.
    “Domestic inflation has continued its downward trend, and is expected to remain within the target range over the forecast period. However, despite some moderate employment creation over the past year, the economic growth … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Cartoon Of The Day: Crony Capitalism

Posted: 19 Jul 2012 06:18 AM PDT

Quotation Of The Day: Rearden Steel

Posted: 19 Jul 2012 05:57 AM PDT

"He didn't invent iron ore and blast furnaces, did he?" 

"Who?" 

"Rearden. He didn't invent smelting and chemistry and air compression. He couldn't have invented his Metal but for thousands and thousands of other people. His Metal! Why does he think it's his? Why does he think it's his invention? Everybody uses the work of everybody else. Nobody ever invents anything." 

She said, puzzled, "But the iron ore and all those other things were there all the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Central Bank News Link List – July 19, 2012

Posted: 19 Jul 2012 05:06 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.

Central bankers eyeing whether Libor needs scrapping (Reuters)
Tunisia’s parliament votes to sack central bank governor (Reuters)
Barclays expects RBI to cut policy rates by 0.25% (zeebiz.com)
Australia business outlook dims as rate-cut calls … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Turkey Keeps Key Rate Steady At 5.75%

Posted: 19 Jul 2012 04:36 AM PDT

Turkey’s central bank kept its benchmark one-weekrepurchase rate unchanged at 5.75 percent, saying it was striking a cautious and flexible policy stance in lightof the uncertain state of the global economy and the inflation rate, whichremains above the bank’s target.

      The Central Bank of the Republic of Turkey said in a statement after a meeting of its Monetary Policy Committee that domestic demand was continuing to show a moderate recovery and it maintained all … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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