Feb 2, 2010

Daily Markets - Financial News Updates

Daily Markets - Financial News Updates

10 Geopolitical & Economic Predictions For 2010

Posted: 02 Feb 2010 06:01 PM PST

A great - and still growing - divergence appeared in 2009 between public statements by leaders and their public performance. The politicized, romanticized theater of increasingly populist “democratic” leaders and media seemed to be of a different planet from activities taking place in the real world.

While a large part of the global population appears still transfixed by words, there is a growing perception that great fissures already rend the global strategic architecture.

This is … [visit site to read more]

Obama Aims To Stimulate Small Business Hiring With $30 Billion Lending Program

Posted: 02 Feb 2010 05:01 PM PST

In the latest in a series of efforts to spur American businesses to hire more workers, President Barack Obama today (Tuesday) issued a proposal to provide community banks with $30 billion to increase lending to small businesses.

The new lending program aims to invest $30 billion in 8,000 banks to provide loans to businesses ready to hire new workers.  Funding for the program would come from money returned by large banks to the government’s Troubled Asset Relief Program (TARP), and would … [visit site to read more]

Just About Says It All

Posted: 02 Feb 2010 04:59 PM PST

As the financial crisis unfolded over the past three years, the so-called “experts” said the government had to do something, and it did.
So, how has that worked out?
A post (or, perhaps, the title alone) from The Economist’s Free Exchange, “$2 Trillion Gone and Nothing to Show for It,” just about says it all.

NOTHING better explains the fiscal setback Barack Obama's domestic agenda has suffered in the last year than this sentence from the budget:

Since the [previous budget] was released in … [visit site to read more]

What’s Next For The US Dollar?

Posted: 02 Feb 2010 04:01 PM PST

The Federal Reserve’s Open Market Committee (FOMC) is sticking to its course for phasing out the additional purchases of Mortgage Backed Securities (MBS). Notably however, in its statement released January 27th, reference to an improving housing market was omitted after recent bad news about the sector.

The Fed rarely puts much weight on a month’s worth of data, be they good or bad; few have ever accused the Fed of being “ahead of the curve”. Indeed, there was one dissenting vote, Kansas … [visit site to read more]

Too Late To Beg From The Too Big To Fail

Posted: 02 Feb 2010 04:00 PM PST

It's a textbook case of when doing less is more. If the Obama administration had better kept its powder dry, instead of spending so profligately, it perhaps wouldn't be stuck doing so much backpedaling.
Now the federal budget's in pieces and it seems too late to be begging from the too big to fail … [visit site to read more]

MannKind Narrows Loss

Posted: 02 Feb 2010 02:32 PM PST

During the fourth quarter of 2009, MannKind (MNKD) lowered its loss per share to 53 cents compared to a loss of 82 cents in the year-ago period. However, the loss per share missed the Zacks Consensus Estimate of 41 cents. For the full year, MannKind reported a loss per share of $2.07, better than $2.98 in 2008.
The company does not have any marketed products, and hence does not generate any revenues. Afrezza (formerly known as Afresa) — inhaled insulin for the treatment of type I and type II … [visit site to read more]

UK Sweeps Madoff Investigation Under The Rug

Posted: 02 Feb 2010 02:22 PM PST

Great Britain just took the definition of America’s strongest ally to a whole new level. How so?

News this morning that the U.K.’s Serious Fraud Office (SFO) will not pursue legal action against the local operations of Bernard Madoff Investment Securities is just another kick in the balls to investors everywhere and the innocent Madoff investors especially.

The New York Times highlights this breaking news story in writing, Britain Will Not Pursue Legal Action Against … [visit site to read more]

Wisconsin Energy Profits Rise

Posted: 02 Feb 2010 02:15 PM PST

Wisconsin Energy Corporation (WEC) reported fourth quarter operating earnings of 96 cents, above the Zacks Consensus Estimate of 88 cents and the year-ago earnings of 85 cents. The company posted full-year 2009 earnings of $3.20, beating the Zacks Consensus Estimate of $3.12 and 2008 reported earnings of $3.03.
The robust earnings growth is attributed to the company's effective cost-control measures and a full year’s earnings from the commercial operation of the newest generating unit at … [visit site to read more]

Daily ETF Roundup: RWX, DBC Surge

Posted: 02 Feb 2010 02:11 PM PST

The showdown over the future of the financial industry continued in Washington on Tuesday, as former Federal Reserve Chairman Paul Volcker continued to push for restrictions on commercial banks engaging in proprietary trading and private investing activity. Earnings reports continued to give domestic equity markets a boost, as did favorable news for the U.S. auto industry out of Detroit: Ford and GM posted sales increases of 25% and 14%, respectively, in January. Toyota results were hammered by … [visit site to read more]

Cartoon: Applying Pressure To The Brakes

Posted: 02 Feb 2010 02:01 PM PST

Source: Eric Allie, … [visit site to read more]

Economic Recovery: The Unresolved Mysteries

Posted: 02 Feb 2010 02:00 PM PST

What a marvelous recovery! But there are so many unresolved mysteries! GDP growth over 5%…but, mysteriously, no jobs…and no rally in the housing market.
And now, to compound the mystery, Mr. Obama has come forward with a $3.8 trillion budget.
The markets like it. Stocks rose 118 points on the Dow yesterday. Gold went up $21. Investors see more hot money on its way…a Vesuvius of it…
The amount of the budget itself is staggering. That's a lot of money. But even more staggering is the … [visit site to read more]

Gold ETFs: Junior Miners, Bullion Get A Boost

Posted: 02 Feb 2010 01:58 PM PST

Gold prices and exchange traded funds (ETFs) are adding to their gains on improved confidence about debt in the Eurozone and Washington’s moves to assist small businesses.

Gold has also been given some support by a better-than-expected fourth-quarter GDP of 5.7% and an increase to 61.5 from 58.7 on the Chicago Purchasing Managers Index in December, gold prices have been gradually improving, as stated by Proactive Investors UK.

Steven Halpern at Blogging Stocks likes the prospects for … [visit site to read more]

Video: Crude Prices Surge On Economic Optimism

Posted: 02 Feb 2010 01:55 PM PST

Front month crude prices continued to rise this session on positive economic data and strong US stock performance. … [visit site to read more]

Lower Q2 Loss For Array Bio

Posted: 02 Feb 2010 01:55 PM PST

Array BioPharma Inc's (ARRY) second quarter fiscal 2010 net loss came in at $21.8 million, or 44 cents per share, which was lower than the Zacks Consensus Estimate of a net loss of 55 cents. The company suffered a loss of $37.8 million, or 79 cents a share, in the year-ago quarter. The narrower loss in the quarter was attributable to increased revenues coupled with lower operating expenses.
Quarterly Results
Total revenue for the quarter came in at $9.6 million, representing approximately a … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: F, C, DHI

Posted: 02 Feb 2010 01:46 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]

Video: UPS Delivers Strong 4Q Results

Posted: 02 Feb 2010 01:45 PM PST

Growth in the company’s international demand & low charges have paved the way for UPS’ 4Q profit to more than double. … [visit site to read more]

Bloggers Tell It Like It Is

Posted: 02 Feb 2010 01:44 PM PST

The world’s largest foundation devoted to entrepreneurship is out with a new report (authored by Kaufman Foundation Senior Fellow Tim Kane) featuring collective insights about the U.S. economy from highly-ranked bloggers (including yours truly) who regularly write about the subject:

America's top economics bloggers represent a diverse group of writers with wide-ranging intellectual and political vantage points on one of the most important issues of the day—the economy. As independent … [visit site to read more]

The Problem With Dow ETFs

Posted: 02 Feb 2010 01:42 PM PST

The Dow Jones Industrial Average is one of the most widely-followed stock indexes in the world, seen as a barometer of U.S. equity market performance. The rise of the ETF industry has given investors the option to track the performance of this benchmark, and a number of spin-offs have increased ETF options for investing in the Dow. But before buying into one of the Dow ETFs available, investors should be aware of the potential drawbacks and limitations that an ETF based on the DJIA may … [visit site to read more]

Gas Supplies Fall At Slower Rate

Posted: 02 Feb 2010 01:40 PM PST

In its weekly release, the Energy Information Administration (EIA) reported an 86 billion cubic feet (Bcf) decline in natural gas supplies for the week ended Jan 22, 2010. The inventory decline, though smaller-than-expected, was the eighth in as many weeks. This has finally started to erode the record-high storage amounts, as frigid temperatures continue to chill major gas-consuming regions in the U.S.
Though the heating season officially began on Nov 1, 2009, net injections continued through … [visit site to read more]

Plum Creek Beats Marginally

Posted: 02 Feb 2010 01:22 PM PST

Plum Creek Timber Co. Inc. (PCL), a real estate investment trust (REIT) owning and managing timberlands in the U.S., reported fourth quarter earnings of $28 million or 17 cents per share, compared to $95 million or 57 cents per share in the year-earlier quarter. 

For full year 2009, the company reported earnings of $236 million or $1.44 per share compared to $233 million or $1.37 per share in 2008. While quarterly earnings marginally beat the Zacks Consensus Estimate by a penny, the … [visit site to read more]

Possible Trend Reversal In Gold And Stock Indices

Posted: 02 Feb 2010 01:05 PM PST

We are seeing the market follow through from yesterday’s strong rally with the Dow, SP500 and NYSE break the previous highs seen on the hourly charts. We now have a higher and high and waiting for a pullback for a higher low. This would complete the trend reversal and this is also the definition of an uptrend. There is a little more room for stocks and metals to move up Tuesday before trading deep into the next short term resistance level.

DOW & SP500 Hourly Charts

Gold Hourly … [visit site to read more]

Chart: How The US Gov’t Is Guaranteeing A Second Housing Bubble

Posted: 02 Feb 2010 01:00 PM PST

Earlier today we looked at how the housing market is teetering atop artificially created price levels engineered through bailout and stimulus. Now, we turn our attention to the official evidence of it. In its latest Quarterly Report to Congress (pdf), the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) documents how, "Supporting home prices is an explicit policy goal of the Government."
According to Tracy Alloway at the Financial Times:
"…propping … [visit site to read more]

Singapore Stock Market Update For Tuesday 02 February

Posted: 01 Feb 2010 05:26 PM PST

Morning Highlights
U.S equity markets rebounded more than 1% overnight as manufacturing reports in the U.S, Europe and China showed the global economic recovery is accelerating. Singapore market followed suit the rise and broke above short term resistance at opening trade, with the key STI gapped up 26.29 points to 2762.46.
Market is trading aimlessly but unable to trade above resistance broke. Subsequently market reversed its early gains after 11:00.
Corporate Announcement

Wilmar … [visit site to read more]
posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)