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- Why Jim Rogers Thinks Commodity ETFs Aren't Finished Yet
Whether you’re bullish or bearish, you can’t deny it: commodities and related exchange traded funds (ETFs) have been in the headlines in a major way this year. They’ve also been the center of numerous debates: were they a bubble? Are they done for now? Is this just a correction?
Jim Rogers, chairman of Rogers Holdings, feels that commodities will be the place to have your money when the United States comes out of the downturn. Since farmers cannot get loans, they can’t get their fertilizer, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. 
Переслать - Traders Pricing In 100% Chance That Fed Will Cut Rates To 0.5%
Euro
The euro moved lower vis-à-vis the U.S. dollar today (Friday) as the single currency tested bids around the US$ 1.2625 level and was capped around the $1.2800 figure. Traders were shocked by U.S. economic data that confirmed November non-farm payrolls fell by a larger-than-expected 533,000, the most significant decline since December 1974 and the eleventh consecutive monthly decline. The November unemployment rate ticked higher to 6.7%, its highest level since … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Why GM Is More Bailout-Worthy Than Citigroup
Financial journalists, most of whom spend more time writing about derivatives than carburetors, have been scathing about the possibility of an auto industry bailout, even though they’ve happily accepted multiple bailouts for the financial sector.
Of course, the reality is that bailouts are likely to do more harm than good in the long run, regardless of what sector they are in. But given the choice, I would rather bail out General Motors Corp. (GM) than Citigroup Inc. (C), because … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Chrysler Hires Bankruptcy Counseling Firm
Chrysler has hired prominent Jones Day law firm as its bankruptcy counsel, the Wall Street Journal reported on Friday. The firm was hired several weeks ago to help the struggling automaker prepare for a possible Chapter 11 bankruptcy filing.
The Journal notes that Jones Day co-head of restructuring Corinne Ball is handling the case. She has worked on other automotive bankruptcies such as that of auto supplier Dana Corporation and many cases involving the UAW. She has also represented … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Central Banks Likely To Cut Rates Even More
As the global recession accelerates, central banks are coordinating efforts to ease monetary policy. Until the financial crisis situation is fully quarantined, the economic paramedics will remain on high alert. As a result, the markets are currently reflecting the following probabilities for interest rate cuts:
FED (U.S.): 100% probability of 50 bps rate cut and 24% probability of 75 bps rate cut by year-end.
BOJ (Japan): 14% probability of 25 bps rate cut year-end.
ECB (Eurozone): … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Time For Hedge Funds To Return To Their Roots
With the news getting worse and worse for the hedgies (e.g. Fortress, Thomas Lee, D. E. Shaw), it’s time for a rethink on hedge funds.
For hedge fund investors: You probably went into them believing that they were uncorrelated absolute return vehicles, or pure alpha. Isn’t it funny how correlations all go to 1 in times of crisis? Maybe it’s time to return to your roots and understand the role of alternative investments in your portfolio.
For hedge fund managers: The really … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - SanDisk Is Evaluating Production Halt In Japan
SanDisk Corporation (SNDK) is considering according to CNet, a production halt over the holidays at its manufacturing facilities in Japan.
“The joint venture is evaluating plans for operations over the holiday season, including a possible stoppage of some production lines,” a SanDisk spokesman said Friday. “We constantly consider manufacturing schedules in light of market requirements and this is particularly true during the holiday season,” he added.
The news isn’t surprising at a … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - November NFP Plunge: What A Number
The November NFP plunged by 533,000 jobs. This was the 2nd largest decline on record but according to my numbers courtesy of the BLS, the 25th worst decline if adjusted for the size of the workforce (going back to 1948). As if that was not bad enough, the September and October were also revised sharply lower. The September number was revised from -284K to -403K (-119K) and the October number was revised to -320K from -240K (-80K). On a historical basis, the three numbers are the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Nortel Networks - Rating Downgraded To Sell
Nortel Networks Corporation (NT), a leading developer of telecom equipment, is facing severe business challenges as a result of the global economic slowdown, increasing competition, and reduced capital spending on the part of several of its major customers.
Nortel’s third quarter 2008 financial results were significantly below our expectations. Revenue from all four business segments decreased year-over-year with further declines expected over upcoming reporting periods. In addition, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Comparing USD/JPY And The S&P 500 Index
Given the high negative correlation between the S&P 500 (^GSPC) and the JPY, it’s reasonable to ask how high will the JPY go and how low will the USD/JPY go. I looked at a longer term chart of the USD/JPY. You can see that we’re slowly approaching 1995 lows. I remember in the 1990s when the USA was scared that the Japanese were going to come into this country and start buying up all the assets (Rockefeller Center).
Below is a table showing the USD/JPY Price Change … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Federal Reserve Buys $5 Billion Of Fannie, Freddie And FHLB Debt
The Federal Reserve aiming at reducing mortgage costs, bought $5 billion of Fannie Mae (FNM), Freddie Mac (FRE) and Federal Home Loan Bank corporate debt, in the open market on Friday, according to Reuters.
Results from the auction were positive:
Dealers submitted $12.9 billion for consideration in the Fed purchase. The Fed made heaviest purchases in Fannie Mae’s 3.875 percent notes maturing February 2010 and Fannie Mae’s 4.75 percent notes maturing in March 2010, buying more than … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - 533,000 Jobs Lost In The US In November
Nonfarm payrolls plunged by 533,000 in November. This was biggest loss of jobs since December 1974.
The unemployment rate rose to 6.7%, a 15-year high.
Though far worse than expected, the numbers are not completely surprising given the terrible ISM data released earlier this week.
The economy is clearly in a recession and things will get worse before they get better. The economy will get better, however. It’s a matter of when, not if.
In the meantime, investors need to remain … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Oil Prices End The Week Just Above $40
Light, sweet crude prices continued to plummet this past trading session as poor US economic data and further declines in energy demand continued to weigh in on the markets. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Data Weighs On Stocks
The biggest drop in Nonfarm Payrolls is taking its toll on the markets. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Hang Seng Closes The Week In The Green
In a week filled with heavy losses throughout Asia, the Hang Seng managed to defy the odds and post a hefty gain to close out the week. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Massive US Job Losses Send The Dollar Spiraling Downward
The release of news that the US economy lost more than half a million jobs in November alone led the US dollar to continue falling this past trading session against the euro and yen. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Wall Street Was Bracing For Bad News
James McGuire Jr., of Christopher J. Forbes, says a lot of the bad data has already been priced into the markets. That’s one of the reasons there is no huge sell-off at the moment. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: General Motors To Cut 2,000 More Jobs
US automaker General Motors (GM) announced today that another 2,000 workers will lose their jobs by early next year as low profits, slow demand, and a lack of funding has continued to shackle the car manufacturer. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: France Announces A Stimulus Plan
French President Nicholas Sarkozy announced yesterday that in order to boost domestic automakers, aid construction and keep recession to the side, France will be … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Further Breakdown Of The US Non-Farm Payrolls Report
Sept was revised from -284K to -403K
October was revised from -240K to -320K
November -533K -The second most job losses since 1970The 3 month average job loss equals -418K. The number of job losses this year totals 1.911M. The Unemployment Rate only stayed low because discouraged workers left the job hunting market. A total of 422K left the workforce last month. I found this surprising given the housing situation. However, it might suggest more people will be giving up … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Market's Reaction To The Non-Farm Payroll
Needless to say the anxiety with regard to the NFP is great. Most see a weak number with a bias to even weaker. The reaction by the market will be interesting to see as it will be hard to predict. To give an idea of the potential reaction, a look at last months move can be a proxy. The range for the day post the announcement was around 100 pips, rather narrow. However, the movements up and down were fast and furious especially in the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Mini Head And Shoulder Forming On S&P E-Mini Futures
The E-Mini S&P 500 is forming a head and shoulder formation that could take us down to 800. Keep your eye on this one.
Today’s payroll NFP report showed it was worse than everyone … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Billions In U.S. Bank Rescue Funds Are Fueling Buyouts Worldwide – Instead Of Lending At Home
While the US Treasury Department’s investment of more than $250 billion in U.S. financial institutions has been billed as a strategy that will bolster the health of the banking system and also jump-start lending, those billions have touched off a banking-sector version of “Let’s Make a Deal,” in which the biggest U.S. banks are using government money to get even bigger. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading News: USD/JPY Holding Channel
In a very cautious overnight as traders gear up for the US Job numbers, one which is expected to show the worst job data since 1980, the USD/JPY is still holding the downward channel as shown below. The pair has been gradually creeping down overnight but has been unable to break the support. This channel support has been tested several times now and if broken the pair should see some resistance down at the 100% retracement … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Scenes From The Strategic Economic Dialogue
The Scene:
The Presidential Salon in an undisclosed government palace, Beijing
Dramatis personae:
Hu Jintao, President of the People’s Republic of China
Wen Jinbao, Premier of the People’s Republic of China
Hank Paulson, US Treasury Secretary
Interpreters
Hu: Welcome, Secretary Paulson, to Beijing for our end of year strategic economic dialogue.
Hank: Thank you, Mr. President.
Wen: We know you have a lot on your plate at the moment.
Hank: Yes, these … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Investing Roundups: AT&T And Credit Suisse Cutting Jobs
AT&T Disconnecting 12,000 Jobs; Credit Suisse Announces 5,300; Capital One Puts Chevy Chase in Its Wallet; Argentina Announces $3.9 Billion Stimulus, Jobless Benefits at 26-year High; Dupont Cuts 2,500 Employees; Williams-Sonoma Beats Estimates; Oil Falls 5%
AT&T Inc. (T) said it would scale back 12,000 jobs, about 4% of its workforce, between now and the end of 2009 to fight “economic pressures, a changing business mix and a more streamlined organizational structure.” It … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - What Will It Take For Solar ETFs To Shine?
Southern California Edison is on the cusp of the alternative energy movement, and their push could help warm up solar exchange traded funds (ETFs). … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Are Bonds Overvalued?
I’ve been thinking lately about Bond Funds and Bonds and how they’re valued. Recently I’ve been watching some High Income funds. These are basically low quality high yielding junk debt. Prices on these securities have plummeted. Have they plummeted enough. This graphic shows pretty nicely the default rates of HY bonds during periods of recession. The problem is that the historical data that we have on Junk debts is relatively short compared to the US Stock Market.
You can … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Gap Fade Stats For November
The first of the month means it’s time to look at the performance of overnight gaps on the DIA! November was a particularly volatile month, with the average overnight gap being around $1.00 (100 Dow Points). Let’s look at the percentages and numbers of filled and unfilled gaps for the month.
Gap Fill Chart:
Trading Days with Gaps:
Let’s define a 'gap’ as being an overnight change of at least $0.25 in the DIA (roughly 25 points in the Dow Jones). The Excel sheet … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - India Stocks: Bank Nifty Valuation, The Long View
(click on table to enlarge)
This table provides my forecasts of fair value prices for the components of BankNifty based on assumptions in my post BankNifty offering good value.
Overall, the BankNifty is 26% under-valued at this time…in a time of extreme stress and volatility this is expected.
However, two stocks stand out as over-valued: HDFC Bank and Kotak Bank. Due to HDFC Bank’s lack of housing loans I have reduced their losses to one years earnings…despite that … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Honda Withdraws From Formula 1
Japan’s number two car manufacturer Honda (HMC), is pulling out of Formula One. The carmaker will close down its formula one team before the start of next season unless a buyer can be found by January 2009. However, chances of that happening at this point seem rather slim. Workers at the UK Brackley base have already been told to expect redundancy letters before Christmas.
At an emotional press conference, according to BBC, Honda Motor president Takeo Fukui, blamed the global … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Euro And Yen: Currencies In Play
The Yen still seems to be in control. As the Yen increases against the US currency, the US stock market continues to decline. Japanese Yen was sold short for years, permitting the investment of the proceeds into risky assets. This is all now unwinding. The Yen is now rallying, and US assets are deflating faster than you can say “Hisssssss”.
The Euro has been declining against the USD; recently it seems to have found a bottom. It could be getting ready to break out and US … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Pre Market: Employment Data
The stories, data, and stocks that may have the greatest impact during the next trading session. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - It's An Alice In Wonderland World Where Logic And Market Performance Rarely Meet
Thursday we just witnessed more of the kind of lethal volatility that defines this market. I was reading the news Thursday morning and couldn’t find a scintilla of positive news. Layoff news was impressive and dominating the headlines as were crummy retail reports.
When markets opened down it didn’t surprise but then in came the bulls to bid things right back up. They were following-through on momentum from the previous two days. Not much took place once the propping was done until 3 … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - USD/JPY Breaks Through The Bottom Trendline
Watch for a further move lower as the USD/JPY finally broke through the channel support trendline. A break back in the range will solicit squaring up. Favor the downside, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: USD/CHF Breaks 100 And 200 HR Moving Average
USD/CHF has broken through support levels and looks to be in a descending triangle on the way to its next support level at 1.1830. With any USD strengthness overnight, we could possibly see a pull back to old support around 1.2020 as new … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - That $25 Billion In Loans America's "Big Three" Automakers Had Sought … It's Now $34 Billion
The U.S. “Big Three” of General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp. submitted their turnaround plans to Congress yesterday (Tuesday), hoping for approval of a massive loan package they say is central to their survival.
And while the plans include such politically palatable moves as salary cuts for top-tier executives, the sale of cushy corporate jets and the elimination of moribund brands, the three embattled U.S. automakers are also now seeking government aid … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Housing Affordability Reaches All-Time Record High
Thanks to the National Association of Realtors, I was able to get monthly data on the Housing Affordability Index (HAI) back to 1988. As the chart above shows (click to enlarge), the October HAI of 141.8 (a family earning the median family income had 141.8%% of the income necessary to qualify for a conventional loan covering 80% of a median-priced single-family home) is the highest level on record, going back at least to January 1988.
As I mentioned in this recent CD post: a) the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Is China About To Break Out?
It was only ten days ago that I thought I would be provocative with an early call on China in Time to Be Long China? Since that time, what looked like a possible cessation in downside momentum has turned decidedly more bullish, with the FXI rising an additional 10%.
The chart below shows FXI, the iShares FTSE/Xinhua China 25 Index ETF, closing above its 50 day simple moving average (SMA) for the first time in 4 ½ months yesterday. It has been 27 trading days since the FXI put in a … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Halliburton's Price Is A Steal
Halliburton Company (HAL) is one of the largest oilfield service providers in the world, offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors. In early April 2007, Halliburton completed the separation of Kellogg Brown & Root (KBR). The transaction enabled Halliburton to become a pure-play energy services company.
Continued commodity and credit-market issues are weighing on the oilfield service … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Will There Be Food Riots And Revolution In The US By 2012?
Here is a picture of the next five years or so that is worth keeping in mind for several reasons. One: it is not out of the question. Two: it is not being discussed by anyone else that I know of. Three: the person who is predicting it has a pretty good track record.
I don’t say this scenario will happen. But I do say it could happen. And since it has some non-zero likelihood, investors should bear in mind the risks of something like it coming to pass as they assemble their … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Apple: A Long-Term Technical Outlook
What has Apple (AAPL) been up to lately? Not much for long-term investors recently, but let’s take a moment to view the monthly, weekly, and daily charts and apply Elliott Wave combined with Fibonacci analysis to see where we’ve come, how we got there, and what might be in store for the future.
Apple (AAPL) Monthly Chart:
The monthly chart shows a potentially completed full Elliott Wave Impulse from start to finish - it’s extraordinarily rare to see such a chart like this … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Are We Underestimating The Strength Of The Economy?
The question is: How abnormal are these times?
A snapshot of a moving target is of limited use, but: Sales the day after Thanksgiving were 3% higher than last year. Over the weekend, 172 million people, shopping in stores and online, spent an average of $372.57, a 7.2% increase over a year ago, when 147 million shoppers spent $347.55 per person.
Is this evidence that the recent deleveraging of indebted households has breathed fresh life into personal consumption, which normally is … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Nortel Networks Is Not Looking Good
Nortel Networks Corporation (NT), a leading developer of telecom equipment, is facing severe business challenges as a result of the global economic slowdown, increasing competition, and reduced capital spending on the part of several of its major customers.
Nortel’s third quarter 2008 financial results were significantly below our expectations. Revenue from all four business segments decreased year-over-year with further declines expected over upcoming reporting periods. In addition, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - China Blasts U.S. Economic Policy, Expresses Doubt In Financial System
China blasted U.S. economic policy yesterday (Thursday) at the Strategic Economic Dialogue, a two-day summit engineered to address long-term issues between the two countries. Chinese authorities have grown more fervent, and more explicit, with their criticism of the U.S. financial system over the past year, evidence of a shift in the balance of power between the nations.
“Over-consumption and a high reliance on credit is the cause of the U.S. financial crisis,” said Zhou Xiaochuan, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How Lower Mortgage Rates Could Help Housing ETFs
A new Treasury plan to lower mortgage rates is getting some criticism, but the health of related exchange traded funds (ETFs) could change.
Mortgage rates could be falling to 4.5% if the plan goes through, but many feel that this will stem the bleeding for a short time, and let homebuilders stocks get ahead.
Although homebuilding stocks did have a rally, critics feel that the housing prices simply must come down, reports Aaron Task for Tech Ticker on Yahoo Finance.
The Treasury has the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Coming Oil Crash And $30 Oil?
From the December 2007 article “The Coming Oil Crash” by John Cassidy, subtitled “Crude at $100 a barrel makes good headlines but ignores basic economics. Why oil prices are in for a 50% drop.”
The tripling of oil prices since the summer of 2003 (from $30 to about $95 per barrel, see chart above) has unleashed forces that within the next two or three years will bring oil prices tumbling back down to below $50 a barrel. Looking even further ahead, prices could easily fall to $30 a … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Record Rate Cuts And Economic Props Light Up Europe
A spree of economic props dominoed across Europe today (Thursday) all sharing the same theme - stopping the global financial crisis from getting worse.
The European Central Bank took a drastic step to protect the Eurozone economy from shrinking further by lowering its benchmark interest rate by three-quarters of a percentage point to 2.5%.
As ECB President Jean-Claude Trichet announced the largest cut in the Eurozone’s 10-year history, he said that the region is bracing for negative … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Viacom, NBC Cut Media Jobs
A full 7% of the Viacom, Inc. (VIA) workforce - 850 jobs - is to be terminated by the media conglomerate. And 500 more media industry workers’ jobs will be cut at NBC Universal, the media wing of General Electric Company (GE), amounting to 3% of that company’s workforce. This comes at a time of slowing box office sales for some film studio businesses, not to mention a pending Screen Actors Guild (SAG) strike.
Who says the entertainment industry is recession-proof? While these … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Buckle Inc: Surprising Performance For A Small Cap
It comes as no surprise that the consumer discretionary sector has been one of the hardest hit sectors given its heavy reliance on consumer spending, which has declined for 3 straight months- a very rare event in market history. Only the largest cap, stable plays like Nike (NKE) and McDonalds (MCD) have performed well in this environment. But today I have a stock for you that has performed just as well (or poorly) as NKE has and offers more upside once the market turns. Historically, … [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: Losses In Wall Street Ahead Of US Employment Data
Uneasy investing reigned across markets Thursday and created losses on Wall Street. Besides the obvious reasons, markets faced losses today ahead of the employment report which will conveniently come out tomorrow. All three major indexes dropped by about 3 percentage points. The Dow (^DJI) fell 215 points to finish at 8,376 points. The Nasdaq (^IXIC) fell 46 points and closed at 1,445 points, while the S&P (^GSPC) lost 25 points and closed at 845 points. Jobless rates are … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How India, ETF Can Stay Strong After Attacks
Divergent opinions are being floated around regarding the attacks on Mumbai, India and its affect on India’s exchange traded funds (ETFs).
Carl Delfeld for ETF XRAY writes how the attack is another burden on India and how increased tension with Pakistan and the disputed Punjab region may be a more pressing matter compared to economic growth.
As India is affected by a global credit crunch and rupee’s decline, most economists have cut India’s GDP growth in half for 2008 and 2009. The … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Stock Market Wrap-Up: The Truth Behind Retail Sales
The big three begged for money in DC today (Thursday) and it did not have much of an affect on stocks until the last hour of trading. The market was back its old tricks and sold off during the last 60 minutes of trading, turning a basically flat day into a triple-digit loss for the Dow (^DJI). The index closed with a loss of 215 points or 2.5%. The S&P 500 (^GSPC) fell 25 points or 2.9% and the NASDAQ (^IXIC) tumbled 46 points or 3.1%. Oil fell to a 4-year low, down 6% and gold … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Who REALLY Can Benefit From Lower Mortgage Rates?
Who can benefit from lower rates? The answer is 'a small fraction as in the past’. I am already seeing analysts reports come out saying things like 'if rates drop to 5.25% then 6 million people will be eligible to refi’ and 'this will save the purchase market and builders’. This in not correct and I will explain why in detail in this post.
First, I am glad to see mortgage rates dropping but it would have been nice to see them drop naturally vs artificially as a result of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Bernanke Urges US Government To Prevent Foreclosures
Fed Chairman Ben Bernanke speaking Thursday at a Fed housing conference in Washington, D.C., urged the government to consider doing more to prevent foreclosures. After emphasizing the continued deterioration in the value of mortgage securities and the resulting increase in uncertainty about the value of a much larger amount of financial assets exposed to that risk, contributing substantially, in turn, to the weakening of economic activity - Mr. Bernanke implied - that since the housing … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Hank Paulson's 4.5% Mortgage Plan
Ok I’ll admit it this one has taken me a bit by surprise. In fact, when I heard it yesterday for the first time I nearlty fell out of my chair.
But no matter how far off my radar a 4.5% mortgage has been, at first look the latest mortgage rumor is nothing less than a game-changer.
And while it wouldn’t be enough to put a permanent floor under housing, it could be enough to generate a massive do-over in the mortgage world. That to me would be a net positive-provided they managed to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - ETFs Ethanol Could Help Energize
With the increasing worries of global warming, cleaner energy and ways to make it more cost-efficient is the talk of the town and ultimately could help benefit the exchange traded funds (ETFs) and stocks that follow the sector.
Until recently, ethanol used in transportation fuel had been moved by trucks or trains, resulting in high costs in getting ethanol to the market and an increase in carbon emissions in the production and use of ethanol.
Kinder Morgan (KMP) just announced that … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Bigger Isn't Necessarily Better
Although there are any number of reasons why mainstream analysts remain confused and behind the curve with respect to the current unraveling, their repeated failure to see things from a broad perspective goes some way towards explaining the disconnect.
Many “strategists,” for example, keep making the same mistake of trying to evaluate recent events in the light of the patterns of the past few decades, even though there is no real comparison. That leads them to make bogus … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Former Yahoo VP To Run Online Services Group At Microsoft
Microsoft (MSFT) today announced the appointment of Dr. Qi Lu, former Yahoo (YHOO) VP in charge of search and ad technology, as President of the software giant’s Online Services Group.
Dr. Lu during his ten years at Yahoo has been instrumental in initiating the development of many new projects such as Yahoo! Maps and Yahoo! Local services. Dr. Lu is also credited in helping get Yahoo’s fancy new Panama engine up and running. In his new role, Lu will report directly to CEO Steve … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Automakers Seeking Bailout: Congress Plays Goldilocks As UAW Concedes
Today (Thursday), executives from General Motors (GM), Ford (F) and Chrysler are returning to Washington to seek bailout funds, loans and assistance. It remains to be seen if they will get the help they need. Sixty-one percent of Americans don’t believe they should.
It’s playing out like a twisted fairytale on Capital Hill as request amounts near $34 billion. One automaker needs a little more, one needs less, and one is about right.
The problem is that Congress is playing the … [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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