Daily Markets - Financial News & Opinions |
- Marc Faber, Mohamed El-Erian And Stephen Roach On 2010
- Last Decade Was A Big Success For Global Economy
- The Risk Of A US Double-Dip Recession Remains High
- Do Canada’s Oil Sands Deserve World’s Dirtiest Commodity Label?
- US Public Pension “Smoothies” Will Cost $2 Trillion
- IMG’s Ted Forstmann: “Wall Street Never Had Principles”
- Video: The Day Ahead: ADP Employment Report
- Trading Potential: Gold And Dow To Resume Downtrend Soon
- Judge Rakoff Throws Out Bank Of America’s Hypocrisy
- Barney Frank Wants To Roll The Dice Back On Sub-Prime Lending
- 20 Years After The Bubble: What’s The State Of Japan’s ETFs?
- Forex Trading: Potential Inverted Flag Pattern In EUR/USD
- Forex Trading: Reversal Bottom Sets Up Potential US Dollar Rally
- Consider Reinvesting Whatever Dividends You Receive Right Now
- Phony Growth From Fiscal Stimulus
- Daily ETF Roundup: UNG Slides, China ETFs Surge
- Eni: A New Deal In Venezuela
- Video: NYSE Closing Bell Market Monitor: F, KFT, CAL
- Is The Nabucco Pipeline Worth The Projected $11.4 Billion?
- Watch This Breakthrough Tech
- MT Issues Convertible Bonds
- TAM Signs Agreement With LAN
- Iceland To Potentially Ditch Its British And Dutch Debts
| Marc Faber, Mohamed El-Erian And Stephen Roach On 2010 Posted: 05 Jan 2010 11:01 PM PST The Financial Times featured basic comments from Marc Faber, Mohamed El-Erian and Stephen Roach. Readers know all about the first two, Stephen Roach is the Chairman of Morgan Stanley Asia. Faber states that while 2009 produced life-time buying opportunities, 2010 will be a year of capital preservation. If asset markets were to weaken again, more fiscal and monetary stimulus would be implemented. If markets were to gain another 20 per cent, fiscal and monetary restraint would probably … [visit site to read more]
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| Last Decade Was A Big Success For Global Economy Posted: 05 Jan 2010 10:01 PM PST From Tyler Cowen’s NY Times article “Fruitful Decade for Many in the World”:
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| The Risk Of A US Double-Dip Recession Remains High Posted: 05 Jan 2010 09:01 PM PST Now that 2009 has passed into history, analysts have flooded the public with their opinions on how the events of the past year will impact the coming years. While most are optimistic, I feel that last year’s developments have greatly exaggerated the imbalances in the U.S. economy. Although we may see a temporary respite from the turbulence, these mistakes will hinder our long-term viability. I fear that we have gone down a road that will destroy the value of the dollar and may even … [visit site to read more]
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| Do Canada’s Oil Sands Deserve World’s Dirtiest Commodity Label? Posted: 05 Jan 2010 08:01 PM PST When you think of Canada, which qualities come to mind: the world’s peacekeeper, the friendly nation, a liberal counterweight to the harsher pieties of its southern neighbour, decent, civilised, fair, well-governed? Think again. This country’s government is now behaving with all the sophistication of a chimpanzee’s tea party. From Dudley Do-Right to Corrupt Petro-State? So amazingly destructive has Canada become … I am watching the astonishing spectacle of a beautiful, … [visit site to read more]
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| US Public Pension “Smoothies” Will Cost $2 Trillion Posted: 05 Jan 2010 07:21 PM PST Life will get increasingly expensive in America 2010. Just because the calendar changed does not mean the smoke and mirrors disguising massive losses in banks, insurance companies, and federal and municipal operations have undergone some massive purging. If anything, the policies and programs developed in 2009 have likely only exacerbated the losses across a wide cross section of our economic landscape. Our federal deficit obviously dwarfs all public and private deficits combined. … [visit site to read more]
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| IMG’s Ted Forstmann: “Wall Street Never Had Principles” Posted: 05 Jan 2010 07:01 PM PST Theodore J. Forstmann, IMG Chairman and CEO Ted Forstmann is a Wall Street legend. Those on Wall Street know Ted for his dealmaking prowess. His deal to purchase IMG (International Management Group) in 2004 positioned him atop this sports, entertainment, and media enterprise. Forstmann is a world renowned philanthropist. What more can we learn about this entrepreneur? From the IMG website:
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| Video: The Day Ahead: ADP Employment Report Posted: 06 Jan 2010 12:00 AM PST The stories, data, and stocks that may have the greatest impact during the next trading session. … [visit site to read more]
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| Trading Potential: Gold And Dow To Resume Downtrend Soon Posted: 05 Jan 2010 06:01 PM PST We posted the following chart in our last article: So far, the Dow has indeed made a small move higher, followed by a shallow correction. Here is the updated chart, following roughly our projected timing: Another final push in the Dow should mark the top of this bear-market rally’s strength. Once the next major leg down in the market resumes, expect it to be strong and swift as all of the positive sentiment built since March 2009 quickly unwinds and becomes negative. As per … [visit site to read more]
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| Judge Rakoff Throws Out Bank Of America’s Hypocrisy Posted: 05 Jan 2010 05:22 PM PST The economic landscape of 2009 remains littered with amazing stories and tales yet to be told. Sense on Cents would hope that all these stories generate a full dose of truth, transparency, and integrity. To eliminate the hypocrisy presented by the financial industry, America needs more arbiters like Judge Jed Rakoff. Let’s review recent developments in the merger of then failing Merrill Lynch with Bank of America (BAC). Were the multiple billions in bonus payments accelerated to … [visit site to read more]
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| Barney Frank Wants To Roll The Dice Back On Sub-Prime Lending Posted: 05 Jan 2010 05:21 PM PST If you wonder why America is broke, look no further than the individual who wanted to roll the dice on sub-prime lending, that is the Democrat from The People’s Republic of Massachusetts, Barney Frank. In an interview Tuesday morning on CNBC, Frank as much admits that maybe sub-prime lending should have been more regulated. Wow! What balls! America doesn’t need legislators who operate by looking in the rear view mirror. With the sole exception of Frank’s remark in support of auditing the … [visit site to read more]
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| 20 Years After The Bubble: What’s The State Of Japan’s ETFs? Posted: 05 Jan 2010 05:01 PM PST The investment bubble that burst in Japan 20 years ago still resonates deeply with the country’s citizens. Has this fear led to an inertia that’s having a domino effect in the country’s exchange traded funds (ETFs). Although homelessness and suicide are up, Japan still has much going for it. It has top-notch exporters, $16.3 trillion in savings and its denizens still gravitate toward luxury dining and shopping. After the bubble burst, though, Japan went risk-shy. Retail investors were … [visit site to read more]
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| Forex Trading: Potential Inverted Flag Pattern In EUR/USD Posted: 05 Jan 2010 04:33 PM PST Price action on EUR/USD, a daily chart of which is shown, has consolidated in an inverted flag-like formation since late December. This occurs after price dropped substantially starting in the beginning of December, breaking down below a key uptrend that had been in place since the March lows. In the process of dropping, EUR/USD also broke down below several key support levels, most recent of which was the approximate 1.4450 price region. After breaking down below this level in … [visit site to read more]
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| Forex Trading: Reversal Bottom Sets Up Potential US Dollar Rally Posted: 05 Jan 2010 04:31 PM PST The U.S. Dollar was able to mount a comeback after early session weakness. A lower than expected U.S. pending home sales report helped raise fears that the Fed would once again leave interest rates at historically low levels and fueled increased demand for the Dollar as a safe-haven investment. Oversold conditions also contributed to today’s rally. Tuesday’s closing price reversal bottom indicates the start of a 2 - 3 day rally to 77.77 - 77.93.
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| Consider Reinvesting Whatever Dividends You Receive Right Now Posted: 05 Jan 2010 04:05 PM PST When we were first planning our trip to India, my wife - and all her family members - insisted that I make an effort to go see the Taj Mahal. My initial response was something like - “Yeah, I’m sure it’s impressive, but I’d really rather just avoid the tourist spots altogether. I want to see the real India, or whatever’s left of it. You know … farms, markets, places in the middle of nowhere.” Still, I begrudgingly took a ride to Agra. And I have to say - even though the site was … [visit site to read more]
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| Phony Growth From Fiscal Stimulus Posted: 05 Jan 2010 03:11 PM PST How was the first day of 2010? Well, most commentators would say it was a good day. The Dow rose 155 points. Oil closed over $81. The dollar fell. And gold shot up $22.
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| Daily ETF Roundup: UNG Slides, China ETFs Surge Posted: 05 Jan 2010 03:07 PM PST After a dull couple of weeks, the action on Wall Street picked up on Tuesday, highlighted by a rare public warning from Berkshire to Kraft. It was an eventful day on the data front as well, with a slip in housing data and solid domestic automotive sales numbers the biggest news of the day. Most benchmarks continued a solid year-to-date period, tacking on smaller gains to Monday's major rally.
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| Posted: 05 Jan 2010 03:00 PM PST Eni SpA (E) joins with Venezuela's state-owned oil firm PDVSA for a joint venture that will start producing heavy crude oil in the country's Orinoco region. The joint venture is planning to start construction in 2011, with a commencement of production in 2014. The deal is subject to approval from the Board of Directors of both companies.
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| Video: NYSE Closing Bell Market Monitor: F, KFT, CAL Posted: 05 Jan 2010 07:11 PM PST The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]
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| Is The Nabucco Pipeline Worth The Projected $11.4 Billion? Posted: 05 Jan 2010 02:01 PM PST Inside Beltwayistan, a number of Bushevik oil patch zombies still roam the recession-blasted landscape mindlessly chanting their Caspian mantra, “Happiness is multiple pipelines” - with the caveat that they flow westwards and bypass both Russia and Iran. They’ve now added a new word to their vocabulary, “Nabucco,” and worse, have bitten a number of Obama administration officials and visiting European politicians, who have joined their shuffling ranks. Their thinking remains somewhat … [visit site to read more]
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| Posted: 05 Jan 2010 02:00 PM PST Xerox has developed a silver-based conductive ink that can be printed on everything from plastics to textiles. The ink's melting temperature of 140 degrees Celsius is low enough to allow printing on plastics. Instead of expensive fabrication facilities, specialized inkjet printers will be able to print circuits that could be used as part of flexible signage, radio frequency identifier tags and even novelty clothing.
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| Posted: 05 Jan 2010 01:42 PM PST Recently, leading steel maker ArcelorMittal (MT), through its wholly owned subsidiary in Luxembourg, announced the issuance of a $750 million bond mandatorily convertible into preferred shares of the subsidiary.
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| Posted: 05 Jan 2010 08:25 AM PST Towards the end of 2009, TAM S.A. (TAM) and Argentina subsidiary of LAN Airlines S.A. (LFL) signed the flight codeshare agreement in order to offer more convenience and comfort to passengers wishing to travel between Brazil and Argentina. The agreement goes into effect for flights beginning on January 4, 2010, but passengers can already buy tickets issued through both companies’ reservation systems.
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| Iceland To Potentially Ditch Its British And Dutch Debts Posted: 05 Jan 2010 07:44 AM PST In 2008, when the Icelandic economy imploded and Landsbanki's Icesave division went under, the UK and the Netherlands rode to the rescue of their own citizens caught up in the collapse by reimbursing their lost deposits. The Icelandic deposit insurance fund had promised to make EU account holders whole in the event of a bank failure… but it didn't. Hence the British and Dutch insistence that Iceland now pay up.
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