Daily Markets - Financial News And Opinions

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• Why China Wants Lower Gold Prices « Justice Litle »
• Sweden ETF Bucks The Trend « Michael Johnston »
• Forex Trading: EURUSD. Keep The 1.3800/05 Area In Your Mind « Greg Michalowski »
• U.S. Exports Would Rank #8 For Largest Economy « Mark Perry »
• 2011 Budget The “Perfect Plan For Catastrophe” « Daily Reckoning »
• Safe…or Sorry? « Michael Panzner »
• Forex Trading: AUDUSD Moves Sharply Higher On The Back Of The Better Employment Data « Greg Michalowski »
• Coming Soon: Norway, UAE, And Pakistan ETFs « Michael Johnston »
• Stock Picks For Thursday 11 February: Sara Lee Corp, Baidu « Antonio Costa »
• I Think Bernanke Just Signalled A Tightening « Larry Doyle »
• Forex Trading: U.S. Dollar Finishes Higher; EU Delays Greece Aid Package « BrewerFX »
• Daily ETF Roundup: DBA Jumps, HYG Sinks « Michael Johnston »
• Despite India’s Optimism, The Picture Is Not Quite So Rosy « Martin Hutchinson »
• Blowing Up A City In The Name Of Economics « Daily Reckoning »
• CSC Revenue Flat, EPS Exceeds « Zacks Investment Research »
• Global Confidence Rollercoaster Hits Downdraft « Larry Doyle »
• Stability From Sigma-Aldrich « Zacks Investment Research »
• US Debt Crisis And The Threat Of Economic Warfare « Daily Reckoning »
• Video: First Toyota, Now Honda: Recalls Vehicles Over Airbags « NYFP »
• Lincoln Betters Expectations « Zacks Investment Research »
• Video: NYSE Closing Bell Market Monitor: S, WYN « NYFP »
• Gildan’s Q1 Tops View « Zacks Investment Research »
• Max Capital Gains On Lower Costs « Zacks Investment Research »
• Singapore Stock Market Update For Wednesday 10 February « Vivien Chia »

Why China Wants Lower Gold Prices « Justice Litle » Posted: 10 Feb 2010 05:50 PM PST To the degree that the gold price falls (and the dollar rises), we are witnessing a giant geopolitical chess game in progress. As you have no doubt heard, Beijing is sitting on something like $2 trillion in excess reserves. It’s actually more than that. According to Michael Pettit, a noted in-country China watcher, the figure is “pretty close to $3 trillion” depending on how you account for it. This massive sum is no guarantee against a China market crash. Pettit goes on to point out that … [visit site to read more]

Sweden ETF Bucks The Trend « Michael Johnston » Posted: 10 Feb 2010 05:26 PM PST Most European equity markets have fallen sharply through the first six weeks of 2010, as worries over an escalating crisis in Greece have spread throughout the region. Both broad-based funds and country-specific ETFs are far in the red: the iShares MSCI EMU Index Fund (EZU) has lost more than 10%, while the MSCI Spain Index Fund (EWP) has shed almost 15%. But one European country has come through the crisis relatively unscathed: Sweden. Focus On Greece One of the EU's smallest members has … [visit site to read more]

Forex Trading: EURUSD. Keep The 1.3800/05 Area In Your Mind « Greg Michalowski » Posted: 10 Feb 2010 05:06 PM PST The 1.3800 level represented the 50%retracement of the move up from the 2009 low to the 2009 high. In addition, the 200 hour MA is at the 1.3805 level currently (and coming down).  On the better data out of Australia today, keep this area in mind on the upside as a profit taking level.  A move above, however, should lead to further buying pressure for the pair on the increased risk appetite. Support on dips should find buyers at the 1.3755 area.  Below that level is support at … [visit site to read more]

U.S. Exports Would Rank #8 For Largest Economy « Mark Perry » Posted: 10 Feb 2010 05:01 PM PST In 2008, the U.S. exported $1.276 trillion (or $1,276 billion, BEA data here) of manufactured goods to the rest of the world including food products ($89 billion), industrial supplies and materials ($780 billion), capital goods ($454 billion), automotive vehicles and parts ($234 billion), and consumer goods ($482 billion). If the value of U.S. exports ($1.276 trillion) in 2008 were considered as a separate country, it would have been the 12th largest country in the world, larger than … [visit site to read more]

2011 Budget The “Perfect Plan For Catastrophe” « Daily Reckoning » Posted: 10 Feb 2010 05:00 PM PST Arthur Laffer, former head of the Office of Management and Budget, has decided that President Obama's 2011 budget "is the perfect plan for catastrophe." Laffer has a variety of policy recommendations he presents in an interview released today, and some of his more interesting thoughts include the three we've transcribed below: On unfunded liabilities: [including civil service and military retirement and medical benefits, Medicare, Medicaid, and the Pension Benefit Guaranty ... [visit site to read more]

Safe…or Sorry? « Michael Panzner » Posted: 10 Feb 2010 04:54 PM PST (Source: Yahoo! Finance) Spurred on by relatively high yields and a desire for “safe” investments, Americans have piled into municipal bonds. As a result, bonds issued by state and local governments have outperformed Treasurys by a hefty margin. Unfortunately, investors seem to be ignoring the fact that many municipalities are in dire straits, hurt by falling tax revenues and rising costs, which means they may not be able to pay off their various obligations on time or in full. In fact, as … [visit site to read more]

Forex Trading: AUDUSD Moves Sharply Higher On The Back Of The Better Employment Data « Greg Michalowski » Posted: 10 Feb 2010 04:53 PM PST The price has found some profit taking sellers against the 0.8865 but the bias is back to the upside.  The low correction off the intial surge has come down to 0.8835. This should be a support … [visit site to read more]

Coming Soon: Norway, UAE, And Pakistan ETFs « Michael Johnston » Posted: 10 Feb 2010 04:17 PM PST Total ETF assets grew by more than $240 billion in 2009, as funds continued to flow from traditional actively-managed mutual funds and issuers introduced more than 100 new products. Despite some suggestions that the a saturation point is nearing (or has perhaps even been passed), the ETF industry is poised to continue its rapid expansion in 2010, and is on pace to surpass last year's new product total. Many of the new funds launched this year have been instant hits, and the pipeline is full … [visit site to read more]

Stock Picks For Thursday 11 February: Sara Lee Corp, Baidu « Antonio Costa » Posted: 10 Feb 2010 04:11 PM PST ( click to enlarge ) Sara Lee Corp (SLE) is breaking out. The stock broke through the highs set in December, and should continue to move. I’m buyer of SLE once it breaks through today’s high of $12.97 for the continuation move. The stock will move very quickly, so watch it closely on Thursday. ( click to enlarge ) Baidu.com (BIDU) has been is on a remarkable run since January 2009 and it doesn’t looks like the trend will change soon.Today stock broke out an important … [visit site to read more]

I Think Bernanke Just Signalled A Tightening « Larry Doyle » Posted: 10 Feb 2010 04:01 PM PST I think Fed Chair Ben Bernanke just sent a very clear sign that he is getting ready to start tightening monetary policy. Be mindful that Bernanke, as with every Fed chair, chooses his wording very carefully. While many market strategists and economists seem to be dismissive of Bernanke’s comments this morning, I beg to differ. The fact that Bernanke used the phrase “before long” in regard to his view on a shift in the discount rate is a very clear sign that he will soon start to raise … [visit site to read more]

Forex Trading: U.S. Dollar Finishes Higher; EU Delays Greece Aid Package « BrewerFX » Posted: 10 Feb 2010 03:21 PM PST The Euro finished lower as the lack of concrete news regarding the European Union’s plan to guarantee Greece’s debt caused investors to remain nervous and skeptical that a resolution would be reached over the next few days. The U.S. Dollar finished higher against most major currencies except the Canadian Dollar. The Dollar opened the New York session overnight and managed to hold on to its gains throughout the day although earlier gains against the Canadian Dollar were erased. Once investors … [visit site to read more]

Daily ETF Roundup: DBA Jumps, HYG Sinks « Michael Johnston » Posted: 10 Feb 2010 03:07 PM PST Yesterday's rally failed to carry over to Wednesday's session, as Fed Chairman Bernanke detailed plans to tighten credit and suggested that the rate paid to banks on excess reserves may become the main policy tool. France and Germany continued to weigh options for propping up Greece's mounting budget issues, even as Greek civil servants went on strike to protest a wage freeze and cuts in bonuses. Elsewhere, Google announced plans to experiment with faster internet services and AIG … [visit site to read more]

Despite India’s Optimism, The Picture Is Not Quite So Rosy « Martin Hutchinson » Posted: 10 Feb 2010 03:01 PM PST The Indian government announced Monday that the country’s economy was expected to expand by 7.2% during the fiscal year that ends next month. Agriculture - which had been expected to be a major drag on the economy because of a poor monsoon season - contracted a mere 0.2%. That is a truly stellar performance, showing that India - like China - has emerged almost unscathed from the global economic meltdown. It would pretty well justify the Bombay Stock Exchange Ltd.’s rich Price/Earnings … [visit site to read more]

Blowing Up A City In The Name Of Economics « Daily Reckoning » Posted: 10 Feb 2010 03:00 PM PST Yes, dear reader, your editor is snowed in. Not for the first time this winter. And we're not the only ones. The US government is shut down too. No matter. They weren't doing anything but making things worse. But wait…what's this? The Washington Post: "Blizzard or not, top Treasury staff is snowed in – with work." Uh oh. The folks who run the economy for us are still on the job. "Geithner, aides skip day off to tackle economic clouds." We have to confess; we've never seen a … [visit site to read more]

CSC Revenue Flat, EPS Exceeds « Zacks Investment Research » Posted: 10 Feb 2010 02:27 PM PST Computer Sciences Corporation (CSC) reported third quarter 2010 EPS of $1.36, exceeding the Zacks Consensus Estimate of $1.23. Revenue The company's third quarter 2010 revenue of $3.95 billion was flat compared to the year-ago quarter. CSC witnessed new business bookings and sequentially positive revenue growth across all business segments except the North American Public Sector. North American Public Sector (NPS) revenue was $1.47 billion, flat compared to the previous year. Managed … [visit site to read more]

Global Confidence Rollercoaster Hits Downdraft « Larry Doyle » Posted: 10 Feb 2010 02:17 PM PST Rollercoaster…..!!! I used the analogy of this amusement ride yesterday to describe our global economy and markets. A day at Six Flags seems far more appealing than the continued twists and turns of our global economy. Today, the riders on our global economic rollercoaster indicate they see further downward motion with hard twists and turns ahead. Bloomberg surveyed close to 2,500 'riders’ the first week in February and reports, Global Confidence Ebbs on Concern Budget Gaps Will … [visit site to read more]

Stability From Sigma-Aldrich « Zacks Investment Research » Posted: 10 Feb 2010 02:07 PM PST Sigma-Aldrich Group (SIAL) reported fourth quarter earnings of 75 cents, compared to the Zacks Consensus Estimate of 73 cents and prior-year EPS of 68 cents. Quarterly sales of $572.5 million were up 12.3% from the fourth quarter of 2008. Excluding currency translation impact, the company posted organic growth of 5.6%. Organic sales for the Research business grew 3.1%, while organic sales for SAFC (Sigma Aldrich Fine Chemicals) increased by 11.6%. SAFC's strong organic growth was driven by … [visit site to read more]

US Debt Crisis And The Threat Of Economic Warfare « Daily Reckoning » Posted: 10 Feb 2010 02:00 PM PST Greece is the word…or at least it was during yesterday's trading sessions in Europe and New York. Everywhere you looked, there was that word again… "Euro Surges Against Dollar as EU Signals Support for Greece." "Canada's Dollar Rises Most in Month on Prospect of Greece Aid." "US Stocks Rally on Growing Prospects for Bailout of Greece." "Corporate Credit Risk Falls Amid Prospects of Greece Support." "Treasuries Tumble on Prospect European Union Will Assist … [visit site to read more]

Video: First Toyota, Now Honda: Recalls Vehicles Over Airbags « NYFP » Posted: 10 Feb 2010 01:56 PM PST Honda announced Tuesday that it is voluntarily adding 437,763 vehicles to a previously announced recall to fix drivers-side air bags. … [visit site to read more]

Lincoln Betters Expectations « Zacks Investment Research » Posted: 10 Feb 2010 01:48 PM PST Life insurance and annuity company Lincoln National Corp.'s (LNC) fourth quarter earnings of 90 cents per share were ahead of the Zacks Consensus Estimate of 83 cents. Last year, the company reported a loss of 50 cents. Results reflected growth in average variable account values and included favorable returns on alternative investments helped by rallying equity and bond markets. GAAP net income for the quarter came in at $102 million, or 27 cents a share. This compares with a net loss of … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: S, WYN « NYFP » Posted: 10 Feb 2010 01:48 PM PST The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ “http://www.nyx.com/marketmonitor” … [visit site to read more]

Gildan’s Q1 Tops View « Zacks Investment Research » Posted: 10 Feb 2010 01:28 PM PST Gildan Activewear Inc. (GIL) reported fiscal 2010 first-quarter results after the closing bell on Tuesday. The company's earnings surged to $28.0 million from $4.4 million posted in the year-ago period. Excluding certain special items, earnings per share came in at 24 cents, beating the Zacks Consensus Estimate by 2 cents. Gildan has a good record of surpassing the Zacks Consensus Estimate in the recent past, evident from an earnings beat in 3 of 4 previous quarters with an average positive … [visit site to read more]

Max Capital Gains On Lower Costs « Zacks Investment Research » Posted: 10 Feb 2010 01:16 PM PST Max Capital Group (MXGL) reported fourth quarter operating earnings of $1.04 per share, beating the Zacks Consensus Estimate of 99 cents. Results were significantly ahead of the prior-year period loss of $1.52. Results were helped by lower expenses, partially offset by lower premiums written. For the full year 2009, Max Capital reported an operating income of $208.9 million, or $3.62 per diluted share, compared to a net operating loss of $143.8 million, or $2.54 per diluted share last … [visit site to read more]

Singapore Stock Market Update For Wednesday 10 February « Vivien Chia » Posted: 09 Feb 2010 05:33 PM PST Morning Highlights The STI  edged higher in opening trade on Wednesday after a positive lead from Wall Street on reports of help for indebted Greece. Dow posted its largest one-day percentage gain in three months. However, Singapore market starts pulling back within minutes. CapitaLand Limited will be announcing its 4Q09 results this morning.  Index is drifting aimlessly now, support is seen at 2665.97. We are watching closely on the recent IPO China Hu An. Though the stock is … [visit site to read more]

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