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- Study Of Great Depression Shows Intervention Postpones Foreclosures, But Causes Mortgage Rates To Spike
It was January 1934. The Great Depression was five years old - but still had another five years to run.
The carnage was horrific: From 1929 to 1934, U.S. personal income plunged 44%, real output nosedived 30% and the unemployment rate soared to 25% of the American labor force.With the nation’s economic landscape laid to waste, it should be no surprise that home foreclosures were soaring, too: Residential real-estate foreclosures doubled between 1926 and 1929 - before the Great … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. 
Переслать - The Obama Energy Effect
The people have spoken.
Now, President-elect Obama will tackle one of the most unenviable jobs in history. Saddled with two ongoing wars, a record budget deficit, an economy in a worsening recession, and Peak Oil on the immediate horizon, he’s got one hell of a mess to clean up.
As my regular readers know, I believe energy is going to trump all other issues, and a number of energy companies (and their investors) will capitalize in a major way. (More on that below.) And so, I’ve … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Unemployment Rate Vibrates Through Economy, ETFs
The amount of unemployed Americans is rising, and unemployment benefits are being drawn from at record highs, possibly leaving a scar for the economy in the long run and stressing out Wall Street and exchange traded funds (ETFs).
The Labor Department reported Thursday that the number of people continuing to draw unemployment benefits jumped by 122,000 to 3.84 million in late October. This is the highest rate since February 1983, when the country was rising up from a long and hard recession, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Yahoo Enjoys The Attention
Yahoo (YHOO) management seems to have moved on from the disappointment of a scrapped search advertising deal with Google (GOOG) and is back wooing Microsoft (MSFT).
Yahoo’s Chief Executive Jerry Yang was quoted by Reuters as saying that he considered the deal to be the best option for the Internet company. Interestingly, the botched deal was one of the options explored by Yahoo and Google to keep Microsoft at bay, which had offered to buy Yahoo for $31 a share. The price remains … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Toyota Feels Headwinds
A 68% drop in annual profit! Stock value eroded by 18.37% in a day! If you are thinking these are another round of horrific figures from the beleaguered automakers of Detroit, think again. The distress signal comes from none other than Toyota (TM), the Japanese company that has managed to keep steady in the perfect storm.
That story changed today. Toyota’s net income for the year is now pegged at 550 billion yen ($5.6 billion) for the year, down from the earlier forecast of 1.25 … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - AMEX Ready To Pull The Plug On Fixed Return Options?
Stan Freifeld at TheOptionsInsider.com has crafted the first draft of an obituary for fixed return options, also known as FROs. In The Death of Fixed Return Options? Freifeld concludes that the absence of new expirations months and strikes suggests the AMEX is likely to phase out FROs soon.
While clearly a fan of FROs, Freifeld highlights six issues which have hampered the development of these new types of options:
New nomenclature required (Finish High and Finish Low)
Large … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Have We Reached The Bottom?
With the S&P 500 (^GSPC) being down over 30% year to date investors are getting nervous about their sinking retirement accounts. Many are simply throwing the towel and converting a majority of their stock mutual funds into bond funds in order to prevent their investments fall further in case we experience the next great depression.
Still there are some brave souls out there who are either keeping their retirement contributions or even increasing them.
With the stock market … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Outlook Of The US Stock Market After The Election
The stock market yesterday (Wednesday) did not offer President-elect Barrack Obama as warm a welcome as he would have liked. According to Bespoke, the Dow Jones Industrial Index’s (^DJI) decline of 5.1% was its worst post Presidential election day decline in history. As shown in the table below, yesterday was only the fourth time the Dow has ever lost more than 1% the day after a Presidential election (gray-shaded areas). “Coincidentally, all three previous periods occurred during the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - UBS Fairly Valued Near $18
We are maintaining our Hold on UBS AG (UBS). In line with earnings guidance issued on October 16, UBS posted earnings from continuing operations of CHF297 million for the third quarter.
This reflected CHF1.5 billion in trading losses, a surge in loss provisions, and a CHF 913 million tax credit. In other news, UBS will set up a fund consisting of US$60 billion in illiquid assets to be owned by the Swiss National Bank (SNB). This will be funded with US$6 billion of equity provided by … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Bull's Case For Genentech
This article is part of a two-piece segment brought to you by Bullish Bankers. I will be presenting the bull case for the Genentech and Roche deal. Despite the recent credit turmoil, the Roche (RHHBY) and Genentech (DNA) deal has been in and out of the news since it was first announced on July 21st of this year, and many analysts point towards the deal progressing towards a higher bid from Roche. The original bid by Roche came in at $89.00 per share to acquire the remaining 44.1% … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - What Credit Crisis?
According to the most recent weekly banking data from the Federal Reserve, the Total Bank Credit of All Commercial Banks exceeded $10 trillion for the first time during the week of October 22 (see chart above, click to enlarge). Compared to mid-October 2007, total bank credit in October 2008 increased by almost 11%, and is almost $1 trillion higher ($977 billion). Compared to mid-2000, total bank credit has doubled from $5 trillion to $10 … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Watch For The Obama Treasury Nominee For Policy Direction
America has a new president-elect. Barack Obama has been embraced not only by traditional Democrats but by many social liberals/fiscal conservatives (just one of many examples here).
Expectations are extremely high. It’s irrelevant whether the woman in the TV clip believed that Obama’s policies would directly or indirectly alleviate her concerns. The world seems to be expecting miracles from the new president-elect.
Can St. Barack of Chicago deliver?
The atmosphere today is … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - ECB Cuts Interest Rate By Half Point As Recession Grips Eurozone
The European Central Bank (ECB) today (Thursday) cut its benchmark interest rate by half a point to 3.25%. The reduction was widely expected, as economic growth has supplanted inflation as the central bank’s chief concern.
“Interest rates have to be appropriate for the economic environment,” ECB council member Axel Weber said Oct. 30. “If the economy cools, then rates have to come down rapidly so one doesn’t risk falling behind the curve.”
Gross domestic product (GDP) in the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Sorry Obama, Wall Street Doesn't Care
This post is a guest contribution by Paul Kedrosky, market commentator and venture capitalist who also blogs about financial matters of the day on the Infectious Greed site.
Honestly? Wall Street doesn’t care. Yes, I know that’s not the answer anyone wants. People want to believe that Wall Street is obsessing over the presidential race the way most of the country has been. It seems only right somehow, sort of mirrored pathologies. There is a pathology going on, however, but it’s … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Obamanomics Offers Investors Plenty Of Profit Plays In 2009
A review of President-elect Obama’s economic policies - characterized by the term, Obamanomics - clearly offer profit opportunities. Let’s take a closer look at some key areas to consider in 2009. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Pre Market: Bank Of England & European Central Bank Cut Rates
The Bank of England cut their primary rates by a record setting 150 basis points (1.5%).
BOE CUTS BY 150BPS TO 3.00% MORE THAN EXPECTED, LARGEST CUT IN HISTORY
- Says inflation risks have subsided, prospects for business investment have weakened
- Global banks in the midst of worst disruption in almost a century.
- Note - UK base lending rate now at lowest level since 1955.
Shortly after that the European Central Bank (ECB) cut as well.
ECB CUTS INTEREST RATES BY 50BPS TO … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Cisco Sitting On $26 Billion In CASH
I know that John Chambers told the press yesterday that this is the second toughest period in his career with respect to visibility and knowing how things will shake out with the economy and such. How tough can things REALLY be for Cisco (CSCO)?
Here’s a company that is currently sitting on a cash stash of $26 billion. All of that cash is more than likely earning money market type returns. That’s pathetic. In my opinion, it’s apathy on the part of management. It’s laziness. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - SOHU.com A Market Leader
We are maintaining our Buy rating on the shares of Sohu.com Inc. (SOHU), a leading online brand in China. Third quarter numbers were in line with our estimates. The company reported total revenue of $120.7 million, GAAP earnings of $1.02 and Non-GAAP earnings of $1.08.
The tax rate was below our estimate, and we have adjusted future estimates upward to reflect a lower tax rate. We expect SOHU to hold its gain in revenue from the Olympics due to the rapid growth in Internet usage in … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Welcome To Wall Street Prez. Obama
Well that didn’t take long. The love affair with President elect Obama, certainly didn’t reach Wall Street as the market suffered the worst drop ever after a presidential election. Yesterday the S&P 500 closed down 5.3%. I guess soaring rhetoric and calls for unity didn’t sway investors. It appears that investors don’t think that words about change and the fact that many new babies born in Kenya that were named Michelle and Barack, will actually cure an ailing economy.
Investors are … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Gold And Silver Shorts Aggressively Closing Their Positions?
Gold gave up some of the Election Day gains yesterday (Wednesday) on profit taking due to sharply lower oil (WTI $Dec down $5.23 to $65.30) and commodity prices (the CRB Commodities Index fell 10.25 to 267.97) on fears of significant demand destruction due to a protracted global recession. Silver was the exception and was more robust and continued to rise after the previous day’s sharp gains.
With open interest levels in the gold and silver futures market at very low levels - levels … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Buy The Rumor, Sell The Fact
Oh dear. The expected feel-good rally ran into a juddering halt, and instead morphed into a “sell the fact” on the Obama victory. Of course, pundits being what they are, they could obviously claim that yesterday’s sell-off was “always” going to happen. The market rallies? An obvious result of the Obama feel-good factor! The market tanks? Having bought the rumour of an Obama victory (and its presumed beneficent impact on consumer confidence), markets were always going to sell the fact once … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Market Report For Thursday
Upon further investigation, yesterday’s market crash was largely due to lower bank earnings and guidance coming from industry leaders like JP Morgan’s (JPM) Jamie Dimon.
The DJIA (^DJI) (-486.01 -5.05% to 9139.27), S&P 500 (^GSPC) (-52.98 -5.27% to 952.77), and NASDAQ Composite (^IXIC) (-98.48 -5.53% to 1681.84) were hammered. So, up sharply one day and down the next! But, no, this was little to do with a post-Obama rally let-down.
Digging into the details, it’s apparent … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Election Winners And Losers In The Stock Market
Election Hangover
NEWS: After a surprising rally to begin the week, the market gave back Monday’s gains and more after finding out who will be our next president. The Dow (^DJI) fell 486 points or 5.1% and is in danger of heading back to the 9000 level. The S&P 500 (^GSPC) have back 5.3% or 52 points today after a one-day close above 1000. The NASDAQ (^IXIC) also got smoked, losing 5.5% or 98 points after one week rally. Gold and oil also fell, the latter down 7% and back to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Cisco: Another "Stellar" Buyback
Bloomberg today made reference in an article to Cisco’s (CSCO) recent buyback :
The company bought back 46 million shares in the quarter for about $1 billion. That helped boost net earnings per share by reducing the number of outstanding shares to 5.97 billion from 6.33 billion a year earlier….“It is the second most difficult time in my career in terms of the forecast,” Chambers said. Cisco sales also slumped after the dot-com bubble burst in 2000.
If you do the math on this one, … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - ETF Summary: Light Volume Is An Issue
We had a nothing day Monday, followed by a light volume rally yesterday and then a blistering light volume sell-off today (Wednesday). I’ve read a lot of blogs posting with certainty that a year-end rally is in the cards now with lots of people taking long positions. They must be disappointed today since they must feel suckered.
I’d call your attention to a few charts below. First, note the McClellan Oscillator which I post routinely demonstrating extremes moving rapidly from much … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Active Mutual Fund Investors Head For Exits To ETFs
According to one study, It appears that the actively managed mutual fund is out and other investment tools such as structured notes, 130/30 funds, separately managed accounts and exchange traded funds (ETFs) are in.
Financial Research Corp. studied the market and found that the market share is being divided up much differently than before, when mutual funds were in their heyday.
Cheaper alternative vehicles are increasingly the choice among financial advisors, as well. The … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - What Has And Hasn't Changed In The Markets After The Obama Win?
Yesterday was an historic day, and the election of Obama should reduce some of the uncertainty in the market. America’s standing in the world has been renewed, and there is hope that we will finally have some new economic policies in the country. Today, America and the world are filled a new with hope — hope that Obama can deliver on the real change that he promised.
What has not changed is the fact that we are in a deep hole. While the credit markets seem to be thawing due to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Now That Obama Has Won, Which ETFs Could?
In the post-election hangover we’ve all got, now investors are looking ahead to what sectors and exhange traded funds (ETFs) are best poised for success under an Obama administration.
Agriculture and infrastructure are likely to benefit from Barack Obama’s victory last night, reports Aaron Task for the Tech Ticker. He has pledged support for both ethanol and infrastructure spending, and there are several ETFs that could reap the rewards from this if he follows through. Among them:
Market … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Wednesday's Market Recap: US Stocks Refrain From Celebratory Session Post Obama Victory
Stocks fell off of Super Tuesday's gains after the economy contracted to prepare for the upcoming shift in power to the Democratic party. The Dow (^DJI) completely wiped out yesterday's increase, and then some, by dropping 486 points, or 5.05% today. Similarly, the Nasdaq (^IXIC) and S&P (^GSPC) also responded negatively to investors' worries about an Obama economy, and fell 5.53%, and 5.27% respectively. Oil took a hit coming off of yesterday's unjustifiable increases, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Will Obama's Win Push Gold Prices Higher?
Democrat Barack Hussein Obama II has been elected to become the forty-fourth President of the United States of America.
And some gold bugs couldn’t be happier.
Why?
Because the biggest gold bull market in modern history peaked amid a political landscape that is now similar to today’s.
Gold and Politics
The political balance of power in the United States has regularly tilted back-and-forth since the country was first founded 232 years ago. This state of constant change can … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Friday's Job Report Could Rattle Markets
Judging from the news today, Friday’s job report from the Bureau of Labor Statistics (BLS) will likely be one that rattles the markets.
The preliminary from ADP today showed a decrease of 126,000 jobs in goods-producing industries including manufacturers and construction companies. Service providers cut 31,000 workers. Employment in construction fell by 45,000.
That made the total job loss a staggering 157,000 for the month of October.
That’s worrisome because throughout the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - What A Joke: Federal Reserve Hires Chief Risk Officer Of Bear Stearns
Is this a joke? Hiring a Chief RISK Officer of a FAILED i-BANK to Advise on BANK supervision? They couldn’t find ANYONE else?
NEW YORK, Nov 4 (Reuters) - The Federal Reserve Bank of New York has hired the former chief risk officer of Bear Stearns Cos, Michael Alix, to advise on bank supervision, according to a release in the Fed’s Web site.Alix will serve as a senior advisor to William Rutledge in the Bank Supervision Group and his appointment is effective Nov. 3, according to the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Market Selloff: Dow Support At 8550
Support on the DJIA (^DJI) is now at around 8550. If that can’t be held we will retest 8250. Failure at 8250 will lead to a retest of the 7950 lows. HANG ON!
S&P 500 broke support and is now in a “sell” signal. Target = … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Wednesday: Trading Actions In The S&P 500 Index
Well, I was in majority cash yesterday (Tuesday) so I didn’t feel the bite. I’m ready to go long again once we hit the 20-day SMA. Any break from that level, then it’s 100% short for me. We gapped down today, but it was only -100 pts on the Dow (^DJI), initially, and the fact that we weren’t able to fill the gap in the first 30 mins was a big warning sign. I asked my coaching students to stay in cash this morning and for good reason - the market appeared weak and needed a rest. That … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How To Become As Good A Trader As You Want To Make Yourself
It has been my finding that new traders in any market do not succeed because they are flat out lazy. The statement that 90% of traders fail could quite possibly be true. But of the 90% of the traders that fail, 100% of those traders either fall in the category of lazy, have no persistence, or can’t handle the mental roller coaster. It’s about time that I present to you my not so secret strategy towards achieving your goal of becoming a great trader.
Knowing you’re not going to get rich … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Clean Up When Funds Clear Out
Money managers clean up portfolio holdings before the end of their tax year. Over 48% of US mutual funds close their books between late October and December. Managers sell stocks with large losses to avoid reporting them on their year-end report to shareholders. This causes downward pressure on stocks trading within their portfolio(s) that are at or near 52-week lows. Once the selling subsides, these stocks have historically experienced a price reversal. That said, investors should … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - When Will The US Recession End?
Now that the election is over, President-elect Obama has a tough economic road ahead. The advanced GDP report of -0.3% suggests that the US is in a recession. The $64,000 question is how long will the recession last. An examination of a few economic forecasting tools gives an approximation of when then recession began and likely end points.
A widely used index of economic activity is the Chicago Fed National Activity Index (CFNAI). The index is released monthly and is a weighted … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: EUR/USD Gives Up Some Gains Ahead Of ECB Rate Decision
Euro
The euro moved lower vis-à-vis the U.S. dollar today (Wednesday) as the single currency tested bids around the US$ 1.2790 level and was capped around the $1.3030 level. Improved risk appetite has led to the common currency retracing some of its multi-week sell-off but the pair gave back some of those gains today. The European Central Bank is expected to reduce interest rates by 50bps for the second time in two months tomorrow. ECB member Weber speculates … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How Manhattan Slowdown Hurts Real Estate ETFs
The crumbling real estate market has spread from the residential housing sector and right on over to the commercial market, hitting some exchange traded funds (ETFs) where it hurts.
New York City commercial real estate transactions have fallen 61% in 2008, hurt by a severe lending slowdown and stoppage. David M. Levitt for Bloomberg explains that about $17 billion of transactions have closed so far and the market is headed for its worst year since 2004.
About 85% of domestic banks … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Hunger For Food May Feed Commodity ETFs
The hidden value in necessities may be the driving force in the attractiveness of certain exchange traded funds (ETFs).
Let’s face it, everyone has to eat, regardless of economic conditions. With population growths in emerging market countries, extended life expectancies and an overall desire for more food by consumers, the demand for food will continue to increase, which in turn, will cause an increase in demand for staple commodities such as corn, soybeans, wheat and sugar. This … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Google Ends Search Advertising Deal With Yahoo
After much speculation Google (GOOG) ended Wednesday its controversial Internet search advertising deal with Yahoo (YHOO) originally announced in June of this year. Mountain View, Calif.-based Google described the departure as being amicable and recognized the fact that the deal was canceled as result of pressure from US regulators.
Apparently, Google didn’t have much choice but to withdraw from the pact to avoid having a tediously protracted legal battle with US regulators. The … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Volatility Index VIX Way Below 10-Day SMA
Rob Hanna at Quantifiable Edges has a study up this morning with the title VXO Suggesting A Pullback Is Likely. In his previous Is A Low VIX A Short Trigger? Rob concluded, contrary to popular wisdom and quite correctly:
“Owning the S&P 500 (^GSPC) when the VIX (^VIX) was more than 10% below its 10-day moving average was significantly more profitable on average than owning it when it wasn’t.”
Quoting Rob again, the important distinction to make is that “when the VXO (^VXO) … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Time Warner Cuts Forecast
Time Warner (TWX) lowered its full-year forecast as it fears that various restructuring charges will dent profits. The media conglomerate now expects full-year profits to total between $1.04 and $1.07 per share. Previously the company had forecast earnings of $1.07 to $1.11 per share.
The revised guidance lowers the company’s forecast to the target many analysts had been forecasting. During the past 30 days, half of the covering analysts had cut their projections, resulting in a … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Hard Times Ahead For China, India
Nine out of the top ten economies are in recession. All of the developed countries are contracting.
These tables are courtesy of Mish
China and India are desperately opening the liquidity spigots and lowering interest rates. For China it is all to no avail…their customers (US and other deveped countries) are contracting and over-capacity in China will lead to a Hard landing. There is no replacement for the export sector which by all estimates affects 80% of China’s GDP. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Fed Sets A New Boundary For The Fed Funds Rate
The US Federal Reserve has had difficulty keeping the effective fed funds rate near the target rate of 1%. An effective fed funds rate that is below the target rate results in a de facto rate cut for banks. Since interbank lending is conducted at the effective rate, a low effective rate means that banks can borrow at rate lower than the Federal Reserve would like. In an effort to fight this the Federal Reserve began paying interest on required and excess reserves held at the Fed. This … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Weekly Review Of The New Energy Global Innovation Index NEX
Each week I recap the results of the WilderHill New Energy Global Innovation Index, symbol NEX, and published by New Energy Finance Ltd. The index consists of approximately 90 stocks from 22 countries. The NEX is the tracking index for the PowerShares Global Clean Energy Portfolio ETF (PBD).
Last week the NEX broke a string of gut-wrenching weekly drops by posting a 22.9% gain. The index handily out-gained the NASDAQ (^IXIC), up 14.6% and the S&P 500, which gained 13.8%. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Agrium A Play On Agri-Business
Agrium Inc. (AGU) is growing through acquisition and organic expansion. The acquisition of United Agri-Products (UAP) is driving revenues and profits supported by an expanded product line in the major business segment.
Agrium announced record results for third quarter earnings, with net earnings for the third quarter of 2008 of $367-million ($2.31 diluted earnings per share) more than four times the previous third quarter record achieved in 2004 and more than seven times above the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - What Will Obama Mean For The Dollar?
So at last, the election is over. After weeks of facing accusations of being an Obama supporter in the office and an Obama hater in cyberspace, Macro Man can go back to focusing exclusively on markets and macro.
Markets seem to be in some sot of weird limbo at the moment. The acute feeling of crisis seems to have passed, yet has hardly given way to any sort of euphoria. As is generally the case, the slow grind higher is the most painful follow-through to a drop down the elevator … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Newalta: New Dividend Kid On The Block
Canada’s leading industrial waste management and environmental services company, Newalta (NAL-UN.TO) currently has announced it is converting to a corporation. Newalta plans to eventually pay a quarterly dividend of $0.20/quarter (eligible dividends), this represents a yield of 8.9% on Tuesdays closing price.
Newalta also announced a 5% rise in earnings per share and that they are cutting their cap ex growth budget by 30% for 2009. Half of Newalta’s growth as a company to date has … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stone Energy A Buy, Target Down
Stone Energy’s (SGY) third-quarter 2008 earnings were hurt by production slowdowns caused by hurricanes Gustav and Ike, which more than offset the contribution from higher oil and gas price realizations.
On average, Stone produced 129 MMcfe/d during the quarter, down from 203 MMcfe/d during the year-ago period. We are keeping our Buy recommendation unchanged at this stage following the successful completion of the Bois d’Arc acquisition and steadily increasing production that is … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Don't Become Emotionally Attached To Your Stocks
When a new client who had recently received an inheritance opened up an account with me, he transferred this new portfolio from a well-known brokerage firm. After the transfer was completed, we sat down to review his current holdings and adjust the portfolio. Some of the client’s stocks were showing large losses. However, he explained that since he had received them as an inheritance, he felt awkward about selling them. He felt attached to them and didn’t think they should be sold. He … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Long Stock Picks For Wednesday
Most of the best action continues to be in the commodities and energy. Investors are likely to continue to buy dips and breakouts in these sectors. While the following charts are more focused on stocks that are not yet too extended, I will also be looking intraday for stocks that are pulling back to support on low volume.
- SandRidge Energy (SD) was higher with volume yesterday, and looks like it may rally off of this base.
- QuickSilver Resources (KWK) is an oil and gas … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Job Losses - Still Deteriorating
Oops… the economy is back on center stage with two bits of data released this morning, and both are bad.
OCTOBER ADP EMPLOYMENT CHANGE: -157K V -100KE, LOWEST READING SINCE NOV 2002
- No Revisions- Total employment: -157k
- Small businesses: -25k **(First net decline in small business since Nov 2002)
- Medium businesses: -91K
- Large businesses: -41K
- Goods-producing sector: -126k
- Service-providing sector:-31k
Addendum:
- Manufacturing industry:-85k- The … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Asian Markets Bounce On Obama Results
Lower bank earnings including losses in many, reported today across Europe, pushed equity prices down. The Euro weakened against the $USD and commodity prices, including gold and oil, were under pressure this morning, as they have been since noon yesterday. But about 7:00am ET even that picture changed.
Yesterday in North American markets, there was no volume to speak of, but there were positive signs early on. The Crude Oil ($WTIC) price jumped +$6.62/bbl (+10.4%) to 70.53. $GOLD … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Worst Performing Dividend Stocks So Far In 2008
In a previous post I outlined the 5 best performing year to date dividend aristocrats. The 5 worst performing dividend aristocrats so far in 2008 include:
Gannett Co. (GCI) has been hit hard this year as its profits have slipped due to the weakness in the advertising market. Furthermore there is evidence pointing that newspapers are losing readership to the free online news sites. GCI recently confirmed that they are maintaining their quarterly dividend unchanged, even though … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: Dollar Falls As Equities And Commodities Rally
US data shows more contraction, equities rally
USD hit hard but drop may be temporary
All eyes turn to election resultsOvernight Preview
Look for two-way trade and volatility
Equities may soften in TokyoLooking Ahead to Wednesday
All times EASTERN (-5 GMT)
7:30am USD Challenger Job Cuts y/y
8:15am USD ADP Non-Farm Employment Change
10:00am USD ISM Non-Manufacturing PMI
10:35am USD Crude Oil InventoriesSummary
The USD fell hard today as the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Has The Commodity Bull Run Ended Or Is It Taking A Breather?
At the Inside Commodities conference in the NYSE, Jim Rogers said that commodities are in a secular bull market and that the current retracement is simply caused by forced liquidation and deleveraging, and can’t be considered a real bear market. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - AIG And The "Free Lunch Myth"
Yesterday’s WSJ had a rather astounding passage contained within an article on AIG (AIG) and the risk models utilized within their Credit Default Swap business (referred to as their Financial Products Unit):
From the WSJ:
AIG began selling credit-default swaps around 1998. Mr. Gorton’s work “helped convince Cassano that these things were only gold, that if anybody paid you to take on these risks, it was free money” because AIG would never have to make payments to cover actual … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Election Day Rally
When two events happen at the same time, there is a strong psychological basis for connecting them.
Today is such a day. The widely-expected end of the election and Obama victory is somehow getting linked to the stock market. We discuss this, and future investment opportunities, at our sister site, ElectionStocks.com. Please check it out for a more detailed analysis. This will be the source for future stock-specific recommendations as we analylze the emerging Obama plan.
The … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Understanding Why Target Date ETFs Feel The Pain
Target date exchange traded funds (ETFs) are a different animal when it comes to investing.
A recent story we did on the subject noted that one in particular, the TDX Independence 2010 (TDD), was demonstrating “acceptable” performance although it was down year-to-date.
How is this so? In short, the fund is basically doing what it’s supposed to do.
Target-date funds are a unique balance of fund in that they automatically adjust their allocation of equities and bonds. The closer you … [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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