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- Three Ways To Take Advantage Of A Market Decline
As we wait for stocks and exchange traded funds (ETFs) to rebound, it’s a great time to help yourself and those that you care about. I have no clue about the short-term direction of the stock market, but I’d bet my new Taylor Made driver that it will be higher five years from now. With that in mind, here are a few things you can do to take advantage of the lower stock prices:
1. Teach Your Kids or Grandkids About Investing
This week I opened up brokerage accounts for my three kids (13, 10 … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. 
Переслать - American Consumer Slowdown Impedes Retail ETFs
Spender’s remorse has set in and retail-related exchange traded funds (ETFs) are showing the aftermath of a less enthusiastic buyer.
The most recent figures show that the American economy has shrunk by an annualized rate 0.3% in the 3rd quarter. Consumer spending, the largest factor in the GDP, fell at an annualized rate of 3.1%, according to a report by the Economist.
On top of consumer confidence bottoming out, the unemployment rate has risen to 6.1% and there is no bright side to that … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Halloween Edition: S&P 500 Index On Friday
Happy Halloween!
S&P 500 1-day
S&P 500 3-day
S&P 500 10-day
S&P 500 … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Honda Earnings Disappoint
Honda Motor Company (HMC) is expanding its business in Asia, growing its global network to increase efficiency, and introducing new products to satisfy local markets. Further, capacity expansion plans in Asia and a new sales strategy in Japan inspire optimism about Honda’s future prospects.
On October 28, Honda Motor reported results for the second quarter of fiscal 2009. In the reported quarter, EPADR was $0.66, down 40% from the prior-year quarter. Revenue declined 4.9% to $27.3 … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Will The Stock Market Bottom In The First Half Of 2009?
Any rally that we may see in the stock market for November and December cannot be regarded as enduring until it can be confirmed in January when hedge funds return to the market. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Chevron Profits Soar On Record Oil
Chevron Corp. (CVX) reported net income of $7.9 billion and diluted earnings of $3.85 per share, up from $3.7 billion and $1.75 per share from the same quarter last year. Rising oil and natural gas prices during the quarter helped to boost sales and other operating revenues 41% from a year ago to $76 billion. These numbers are on the heels of Exxon Mobil’s (XOM) record setting profits reported yesterday. Analysts had expected the second-largest U.S. oil company to report a net … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Watch Emerging Markets Bonds
I know a number of equities-only investors who have started following the bond markets for the first time ever over the course of the past year after becoming tired of being blind-sided by inter-market relationships.
Of the many credit market data points, LIBOR, the TED spread, OIS-LIBOR and others have received a fair amount of press as of late as measures of liquidity. More traditional bond market indicators focus more on risk than liquidity and include the spread between corporate … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Target-Date ETFs: Are They On Target?
Life-cycle funds or target-date exchange traded funds (ETFs) are a unique balance of fund in that they automatically adjust their allocation of equities and bonds.
The closer you get toward your retirement date, the higher the ratio of bonds in your portfolio, earning their name of a retirement plan on autopilot. Simon Maierhofer for ETF Guide reports that XShares and TD Ameritrade teamed up and created five TDAX Independence Funds, which he explores in light of the recent market turmoil. Do … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Intel Looks To Stronger Year Ahead
We are reiterating our Hold rating on the shares of Intel Corp. (INTC), the world’s largest manufacturer of semiconductor products.
September quarter revenue was in-line with the consensus, while the EPS exceeded. Forward guidance is for a revenue decline of -1% to a revenue increase of 7% in the fourth quarter. Since the second half of the year is usually stronger than the first, revenue growth may be expected.
Intel is trading at 9.5x our 2008 EPS estimate of $1.67. The company … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Chevron Keeps Delivering
Chevron (CVX) continued the dream run of oil majors this quarter, doubling its profit in comparison with the same quarter last year. However, the fourth-quarter forecast does not look so rosy with oil prices tumbling by more than 50% from its $147 perch. Thus, in spite of impressive results, the stock is down 47 cents at NYSE since the opening bell.
The company’s net income climbed to $7.89 billion, or $3.85 a share, from $3.72 billion, or $1.75, a year earlier. The figure beat … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Logitech Downgraded To Hold
Logitech International S.A. (LOGI) reported revenues for the second quarter of 2009, which were weaker than expected, and earnings were below our estimates due to higher than expected operating expenses.
The company delivered good quarter in terms of revenues despite weakness in the PC speaker and keyboard & desktop segments. There was strong demand for Harmony remotes and pointing devices combined with good traction in OEM. Gross margins remained at a high level for the company … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Mallet Swings Forward
Regular readers of “A Dash” know about our Gong Model, invented by our system guru, Vince Castelli, and whimsically named by the OldProf. Vince has a brilliant and innovative concept. He takes many of the factors that people look for in finding a market bottom. He investigated which of these really made sense.
We believe that he is the only modeler to have a two-stage process. He has identified certain factors that provide a setup for a solid investment market bottom. Then … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Fundamentals Of Crude Oil Pricing: Part III
If you have not read parts one and two of this article, please visit here for part one of the series and here for part two.
Shortages, Stockpiles, and Decline Rates
Often one of the most important short term pricing factors in regards to crude oil are shortages and stockpiles. These dynamics work in ways that are mysterious to most investors and misunderstood by many others. It is easy to understand that reports or rumors of any shortages will cause the market to price in future shifts … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Weak Spending Hurts US Retailers
This (Friday) morning, the figures for US personal income and spending came out, and it is a continuation of the long series of bad economic news we have been getting. In real terms, consumer spending has not risen since May, and has been down in three of the last four months.
The increase in May was probably entirely attributable to the stimulus checks. The reason for the poor spending is a lack of income. Disposable personal income has plunged recently, although it was very … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Friday's Market Recap: Dow Lost 14.1% In October
The market ended the week, and month, with two consecutive days finishing with gains. The Dow (^DJI) boosted 144 points, ending the worst month in over 21 years down 14.1% since October began. The S&P (^GSPC) saw an increase of 1.54%, and the Nasdaq (^IXIC) moved up 1.32%. Though consumer spending dropped again this month, JP Morgan (JPM) has announced that they will not refrain from foreclosing problem mortgages for up to 90 days, in an effort to find an alternative solution … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Trouble Comes Home To Roost For The "Bad Actors" Of The Global Economy
Four months ago, it appeared that three economic “bad actors” were triumphant in their disregard of economic laws and contempt for the United States: Russia, Venezuela and Argentina. Today, while the iron laws of economics have taken a bite out of all of us, they have taken an especially big chunk out of the economies of these bad actors. Unless most of us, the bad actors will not be quick to recover.
That is good news - for U.S. foreign policy, and for those of us who hope that the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - India Market Up Sharply…Be Careful
After selling net Rs. 1,306cr on October 29, 2008 FII’s came back to buy Rs 1,237cr today, October 31. The net result was: Sensex close 9,788 up 7.4%, Nifty close 2,885 up 7.0%.
The funds have managed to create a better looking NAV for month-end, but nothing has changed. We are still in a de-leveraging environment; redemptions will continue despite the games being played with month end figures.
Bear markets have vicious rallies; these are wonderful traps. Don’t get caught. Use … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Homeowner Bailout May Face Too Many Problems To Succeed
A tentative Bush Administration plan aimed at keeping as many as three million homeowners who are behind on their mortgages from losing their houses will be difficult to administer, and could end up costing the country hundreds of billions of dollars more than the plan’s architects expect, a Money Morning contributing editor and credit-crunch expert said yesterday.
R. Shah Gilani, a retired hedge-fund manager and Money Morning contributing editor who is emerging as an expert on the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Gold Is Up 12% While S&P Is Down 37% Since Credit Crisis Began
Gold continues to surprise to the downside on the COMEX and the futures markets in spite of huge physical demand, increasing supply issues and surging premiums on bullion products.
Speculative paper players using huge leverage continue to exit positions for the relative safety of cash due to margin calls on other bets and some investment banks continue to short gold despite the incredibly strong fundamentals for bullion itself. Once the AM and PM gold fixes for physical bullion took … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Stock Markets: Halloween Relief Or More?
I will be covering a global stock market performance round-up after the month end, but thought it would make for interesting reading to briefly review the action of the past three days.
The numbers speak for themselves, showing the MSCI World Index and the MSCI Emerging Markets index surging by 14.2% and 23.5% respectively since Monday’s closing levels. Strong stuff indeed, but these rallies still leave the two indices down by 43.4% and 58.1% respectively since the highs of October last … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Halloween Indicator Could Be A Treat For ETFs
Investors of stocks and exchange traded funds (ETFs) may be feeling more tricked than treated, but one needs not get spooked, as daylight always shines.
There’s lots of energy surrounding us, with Halloween upon us, elections less than a week away and a global recession teetering on every decision the experts make. But please, do not retreat into the dark corners of your hideaway or behind the curtains of despair, because we have strengths among these ghoulish weaknesses.
For one, last … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Traders Staying On The Sidelines Before US Election?
Thursday morning, with no economic or corporate news to cause a shift in market sentiment, the price of oil and gold started to plunge along with the US T-Bill yield. Equity prices were soft until the final hour, particularly the final minutes of the session, when they soared.
However, today (Friday) in the international markets, there has been a broad based sell-off. Particularly hard hit were Japan (-5.0% to 8577.0) and Hong Kong (-2.5% to 13968.7). The UK FTSE (^FTSE) and German … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Yahoo, Google May Walk Away From Search Pact
The planned advertising partnership deal between Google (GOOG) and Yahoo (YHOO), devised during Microsoft’s (MSFT) unsolicited bid for the Sunnyvale, Calif-based co., may not take place after all.
Citing people familiar with the matter, the Wall Street Journal reported that following a Thursday meeting with the Justice Department both internet companies could abandon the pact as early as the middle of next week if differences with regulators are not resolved.
The Journal notes … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Treat…Or Trick?
While this is always an issue at month end, the sheer scale of the moves in equity markets this month make this the most widely-anticipated month end fixing that Macro Man can recall in his fifteen-plus year career. Stories are circulating that passive and active global equity funds will need to buy something like $35 - $50 billion USD at the 4 p.m. London fix today, and that pension funds will sell cartloads of government bonds to buy equities, as they are now overweight the former and … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Third Quarter GDP Suggests U.S. Has Entered Into Recession
The U.S. economy shrank at an annualized rate of 0.3% in the third quarter - the biggest decline in seven years - after businesses cut back on investments and consumer spending experienced its sharpest pullback since 1980. And though the contraction was smaller than economists expected, they are still predicting a drawn-out downturn that could be one of worst U.S. recessions since the Great Depression.
After growing 2.8% in the second quarter of the year, U.S. gross domestic product … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Brazil ETF Rated As A "Buy" On Monday Has Now Posted A 31% Gain
The iShares MSCI Brazil Index (EWZ), an exchange-traded fund (ETF) that was the topic of the popular “Buy, Sell or Hold” feature on Monday, surged 9.9% yesterday (Thursday) and are now up 31% in the four days since Contributing Editor Horacio Marquez rated the ETF as a “Buy” in his column.
The shares, which closed Friday at $29.94, gained $3.52 each, or 9.9% each yesterday, to close at $39.09, and have now gained and have now gained $9.15 a share, or 31% since they were recommended by … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Target-Date ETFs: Are They On Target?
Life-cycle funds or target-date exchange traded funds (ETFs) are a unique balance of fund in that they automatically adjust their allocation of equities and bonds.
The closer you get toward your retirement date, the higher the ratio of bonds in your portfolio, earning their name of a retirement plan on autopilot. Simon Maierhofer for ETF Guide reports that XShares and TD Ameritrade teamed up and created five TDAX Independence Funds, which he explores in light of the recent market … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - China's Greatest Trade Ever
There has been a considerable uproar over a story in the overseas version of the Chinese newspaper The People’s Daily. The story suggested the Chinese are very unhappy with the low value of the US dollar. The most quoted line from the story is,
The United States has plundered global wealth by exploiting the dollar’s dominance, and the world urgently needs other currencies to take its place.
Clearly the Chinese have a beef with the greenback and the way the US has treated it.
However, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Investing Roundups: Amex, Motorola, Crude Oil
American Express Co. (AXP) said yesterday (Thursday) that it plans to cut 7,000 jobs, or 10% of its global work force, in an effort to reduce costs by $1.8 billion in next year, The Associated Press reported. The company will also suspend management-level salary increases next year and institute a hiring freeze. American Express has reported four straight quarters of profit declines.
Oil prices fell more than 2% yesterday (Thursday), after economic data showed a 0.3% decline in … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Stock Market: "Death By A Thousand Cuts"
The markets have been gyrating up and down wildly this week… and in the end they have moved very little. For a technical analyst like myself this week has been akin to watching the EKG of a patient in ventricular fibrillation.
Massive up and massive down moves in the span of minutes, overnight futures market just as volatile as normal trading hours, and sporadic volume make for a market that is on the brink of a cardiac arrest.
If you are new to trading, or the stock market in … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - EUR/USD Trades With Upside Bias
Rate clears the 1.3000 handle and extends ranges on stop-driven trade. A pullback is likely now and I would look for the 1.2700 handle to hold on a dip. Hook reversal showing from the toolbox suggests aggressive traders can buy the rate on dips. Rate possibly getting spillover effect from GBP. Overnight equities stronger also helping to lift the rate a bit. Support also from cross-spreaders as they unwind Yen. Official interest noted traders say.
Rate is an absolute screaming buy in my … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Daily Forex Commentary: Euro Gains As Emerging Markets Stabilize
Euro
The euro moved sharply higher vis-à-vis the U.S. dollar today (Thursday) as the single currency tested offers around the US$ 1.3295 level and was supported around the $1.2940 level. The common currency recovered following a recovery in emerging market assets. The European Union and International Monetary Fund bailed out Hungary to the tune of US$ 25.1 billion and the IMF also enacted a short-term financing facility for emerging market economies that have been … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Can ETFs Give Direction To Investors?
Mutual fund companies are bearing the brunt of the anger associated with the fallout of many retirees, and speculative retirees, retirement plans, giving exchange traded funds (ETFs) a chance to grab a share of the industry.
Many U.S. investors have been lashing out at mutual fund companies regarding the dramatic decline in assets, putting more pressure on an industry that already has a lot at stake, reports Jason Szep for Reuters.
U.S. mutual fund companies are wrestling with high levels … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Everything You Need To Know About The Fed's Rate Cuts
The graphic below contains all you need to know about the Fed’s rate cuts over the past year:
Graphic Courtesy of the WSJ
Notice how the Fed’s rate cuts have had little effect on mortgage rates and corporate bonds rates? Thus lending credence to my theory from last year (after the first rate cut) that the rate cuts would have little impact on the credit crunch since it was a function of loan losses, bad risk management, investors losing money, derivatives abuse, etc, as opposed to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - American International Group, Where Is OUR Tax Money Going?
Good article in the New York Times:
The American International Group is rapidly running through $123 billion in emergency lending provided by the Federal Reserve, raising questions about how a company claiming to be solvent in September could have developed such a big hole by October. Some analysts say at least part of the shortfall must have been there all along, hidden by irregular accounting.“You don’t just suddenly lose $120 billion overnight,” said Donn Vickrey of Gradient Analytics, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - S&P 500: Program Trading From Big Guys Responsible For The Swings
Another day full of pattern failures. US Q4 GDP should be terrible. What was really surprising is how jobless claims came in at “unchanged”. Are you serious? Is this a joke? How is that possible? They won’t get away with “unchanged” in next week’s report. But first, we have several reports out tomorrow (Friday) morning, including personal income and U. Mich. Consumer Sentiment.
So, despite the negative economic news, we still gapped up significantly but sold off immediately (”sell the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Halloween Humor: Trick Or Bailout!
Even in an environment where even a Financial Calvinist like myself think some industries should be bailed out, you have to admit that this is not only funny, but sadly … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - India Stock Market Scenario Analysis
A reader recently asked for a scenario analysis of the India Stock market. So here is a table showing various forward looking scenarios, the probability of the scenario, scenario Earnings, P/E multiple and hence projected forward looking Sensex value.
(click to enlarge)
You can create the same spread sheet and change the probability to look at your unique scenario.
I have given the following probabilities to potential economic outcomes over the coming year:
Good times: … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Strange S&P 500 Confluence Ahead
The S&P 500 (^GSPC) is striking a strange chord that will resolve eventually into a potentially large trend move - the question is “Which way will it move?” Let’s see this and look for clues.
First, the S&P 500 Daily Chart:
If you look at this structure, you likely see a powerful “sell” signal setting up as price tests the falling 20 day EMA and has formed a shooting star (yesterday - bearish reversal candle) and a similar pattern (so far) today - both of which have … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Recent Volatility And VIX Macro Cycles
The science art of forecasting volatility more than a couple of weeks out has always struck me as a lot more like astrology than astronomy, so it was with some mild apprehension that I thought I should update my VIX macro cycle chart. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Why Is It Us? Because We're Here
Lieutenant Gonville Bromhead: “Was it like this for you ? I mean, how did you feel the first time?”
Lieutenant John Chard: “How do you feel ?”
Lieutenant Gonville Bromhead: “I feel afraid and there’s something more. I feel ashamed. There. You asked me and I told you. How was it your first time ?”
Lieutenant John Chard: “Do you think I could stand this butcher’s yard more than once ?”
- From the screenplay to 'Zulu’ by John Prebble and Cy … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Markets Up But Why?
Mutual fund managers are trying very hard to improve the Oct 31st month end portfolio NAV. I am in complete agreement with the sentiments expressed by Jesse:
Even in a “Market Meltdown” and a “Once-In-A-Lifetime Financial Panic….”
…the Other People’s Money (OPM) managers can still find time to paint the tape into the end of month.When this coat dries, they *might* try to slip on one more layer of paint before the weekend, but if we break to the downside we would look for a … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Lan Airlines Not Exactly Taking Off
We currently have a Hold recommendation on Lan Airlines S.A. (LFL), with a target price of $10 per share. Lan Airlines is the main provider of domestic and international passenger and cargo air services in Chile and one of the leading airlines in Latin America.
The company’s operating results for the third quarter of 2008 were positive. In the third quarter, total operating revenue was US$1,204.6 million, a 37.7% increase over the same period of 2007, representing a 36.1% … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Actively Managed ETFs Making Strides
The actively managed exchange traded fund (ETF) didn’t fare as well as anticipated when they originally launched earlier this year. A primary reason for this is that there’s no back-tested data, so a track record will need to be built before investors are able to see that these funds achieve their objectives.
The challenge for providers who enter this space in the future will be to retain the advantages of ETFs while adding value. Active ETFs already have several advantages over mutual … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - What Do Mozilo, Dodd, Conrad And Raines Have In Common?
They are potentially all under Justice Dept Inquiry - Countrywide back in the news.
The wide-ranging criminal investigation into wrongdoing at Countrywide - once the nation’s largest mortgage originator - now includes serious scrutiny of a loan program that provided special mortgage deals to the well-connected and powerful, including two U.S. senators.NBC News has learned that Robert Feinberg - a former Countrywide loan officer who handled what were known as the “V.I.P.” mortgages - … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Which BRIC ETF Is Better?
The BRIC (Brazil, Russia, India, China) economies are some of the fastest-growing in the world, but which focused exchange traded fund (ETF) is better?
Once thought to be de-coupled form the rest of the world, BRIC ETFs hit the market with major investor interest, and although there’s a downtrend showing through right now, these funds are still useful in the long run for diversification and portfolio allocation, reports Jonathon Bernstein for ETFZone.
Three BRIC ETFs he examines … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Thursday's Market Recap: Stocks Holding Steady On US GDP Report
The third quarter real GDP data was released this morning before trading hours with more promising results than Wall Street had predicted. Experts believed real GDP would shrink by 0.5% due to lack in both credit and confidence in the market. Actual GDP shrunk by only 0.3%, and will most likely delay the official recession title that experts deem to be inevitable. Many economists believe conditions will have to get worse before they improve. Investors didn’t share the same sentiment … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - American Express Hits The Wall Hard
American Express (AXP) is going to lay off 7,000 employees.
An internal email provided to American Express employees:
M E M O R A N D U MSubject: REENGINEERING DECISIONS
Date: October 30, 2008
To: All American Express Employees
From: Ken Chenault
I know it has been an anxious time for everyone since we first announced the need to step up reengineering in light of the worsening economy. In a matter of weeks, we’ve witnessed a chain of events that we wouldn’t necessarily … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Comerica Stays A Sell Post-Report
Detroit-based Comerica Incorporated (CMA) is one of the top 20 banks in the country. CMA delivers financial services in four primary geographic markets Michigan/Midwest, California/West, Texas and Florida but also has operations in numerous other states as well as in Canada and Mexico.
Comerica Inc. was two pennies short of our third quarter estimate. Credit metrics worsened further during the quarter. After reviewing the results and the outlook provided by management, we are … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Nucor Corporation Dividend Stock Analysis
Nucor Corporation (NUE) and its subsidiaries engage in the manufacture and sale of steel and steel products in North America. It operates in two segments, Steel Mills and Steel Products.
Nucor Corporation is a dividend aristocrat as well as a component of the S&P 500 index (^GSPC). It has been increasing its dividends for the past 34 consecutive years. From the end of 1998 up until October 2008 this dividend growth stock has delivered an annual average total return of 14.70 % … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - S&P Index From 1825 To 2008
The graph below is an interesting depiction of the S&P Index’s (^GSPC) annual returns since 1825. Of the 184 years 70% were positive and 30% negative. The 2008 year-to-date return is -36.7%, resulting in the red block moving one category to the right since the graph was constructed. The jury is out on whether the bounce will be strong enough to make the year look more respectable.
Please click on the image for a larger graph.Source: Value Square Asset Management, Yale … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Prime Borrower 'HELP' Requests Surge
I have been preaching for a long time that with values down so much across the nation, as much as 70% in areas of the more populated 'bubble states’, that Subprime was only the beginning. The mortgage meltdown is definitively spreading into higher paper grades.
I maintain that the original buckets of Subprime, Alt-A, Jumbo Prime and Prime Conforming don’t have much relevance any longer and they are just all 'loans’. This is because with such a large percentage of higher rated … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Investing Roundups: Oil, Hungary, P&G Get Boost
Oil Bounces Back; Hungary Gets $25 Billion in Aid; P&G Boosted by Emerging Markets; Qwest Cuts Workforce; Airline Merger Cleared for Takeoff; Domestic Airfares Soar to Record High; Consumer Crunch Hits Comcast; Biotech Firm Plunges
Oil prices rallied off a 17-month low yesterday (Wednesday), soaring $5.12, or 8.16% to settle at $67.85 a barrel. Earlier in the day, crude jumped 9% to a session high $68.91 a barrel. Part of the reason for the oil’s rebound was the Energy Information … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Americans To Bail Out Big Auto Companies
The good people of Detroit Michigan can rest assured today that there will be no bankruptcies at the Big Three. There may be just a Big Two left standing, but that’s a different issue. The key issue is that the US Treasury, which means the taxpayer, today’s and those in the future, is committed to a bail-out package.
Of course, this is called the Fed Commercial Paper Funding Facility that was announced Tuesday. But let’s not kid ourselves; the Fed is technically insolvent and operates … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Las Vegas Sands Shares Soar After Singapore Deals Itself In
Las Vegas Sands Corp. (LVS) shares more than doubled yesterday (Wednesday) after Singapore’s government pledged support for the completion of a local $4 billion casino project.
Las Vegas Sands stock hit a daily high of $10.97, before paring back to close at $8.91 with an 80% gain of $3.96 each.
The Singapore Tourism Board stopped short of pledging financial support for the project, but said it would “facilitate the success” of the project under construction in downtown … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Update On Alternative Energy Stocks
I am a strong proponent of the long term viability of alternative energy stocks but recent market actions have been very hard on these stocks. If you read my weekly update on the NEX renewable energy index you will see how badly this whole sector has been hammered. I also follow two renewable energy stocks on this site, VeraSun Energy (VSE) and Green Hunter Energy (GRH). Both companies have recent news that show diverging prospects for each.
VeraSun Energy stock collapsed yesterday … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Why Earnings On Financials Are Bottoming
The following snippet from the WSJ confirms my belief that earnings on the financials are bottoming and will start to move higher from here. Deutsche Bank (DB) showed a profit, believe it or not. How could that happen, given writedowns etc? Here’s how, they changed the rules of the game. Prior to the change, DB would’ve been forced to writedown the value of the assets. They picked up huge amounts of income due to the changes in the rules. When the governments and the central … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: US Dollar Could Give Back Gains Today
After checking what is on the agenda for important news releases today, I noticed that it is a pretty busy day for the US dollar. Not only are there news releases for the dollar, but negative news for the Euro this morning didn’t mount any losses for the EUR/USD pair. These numbers include much lower consumer confidence, all of which can be found in this great overview written by European Commission for Ecomonic and Financial Affairs. I think it is no surprise that the European economic … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Trading: Thursday's Watchlist
I am finding more charts that look good on the long side, although most would benefit from a low volume pullback. Here is the my watchlist, all long: TNH, APWR, PXP, PDO, MTL, DO, SMH, AG, ZEUS, CLS, RRC, RIO, CNQ, FCX, AUY, TBSI, EXM, GPOR, XEC, CCJ, CHL, CRS, BEAV, WAG, ATI, PCP, APA, WW, EGLE, MPEL, RAH, ADCT, EGY, RIG, ENER. While the watchlist is dominated by long picks, I am not fully in the bullish camp yet.
Yesterday’s (Wednesday) end of day selloff created some long upper … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Bailout Package: Billions Used For Buyout Deals, Not To Increase Loans
While the U.S. government’s plan to invest $250 billion into U.S. financial institutions has been billed as a strategy that will bolster the health of the banking system and also jump-start lending, the recapitalization plan is likely to have a secondary effect - one that whipsawed U.S. taxpayers likely won’t be very happy to learn about. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать
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