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Man, they will need a LOT of hair gel to prop that sucker back up. BIG MISS last night.
Oh shoot, today is my ANNIVERSARY! Luckily I got the wife a nice card. For me, it truly is THE IDES OF MARCH.
Very nice profit Ske. That is good beer money for the weekend!
What Do We Do With Apple? http://stks.co/eNdj via @allstarcharts
Employers Blast Fees From NewHealth Law
By Janet Adamy | The Wall Street Journal
Employers are bracing for a little-noticed fee in the federal health-care law that will charge them $63 for each person they insure next year, one of the clearest cost increases companies face when the law takes full effect.
Companies and other plan providers will together pay $25 billion over three years to create a fund for insurance companies to offset the cost of covering people with high medical bills.
The fees will hit most large U.S. employers, and several have been lobbying to change the program, contending the levy is unfair because it subsidizes individually purchased plans that won't cover their workers. Boeing Co. and a union health plan covering retirees of General Motors, Ford Motor Co. and Chrysler, among other groups, have asked federal regulators to exclude or shield their insurance recipients from the fee.
Insurance companies, which helped put the fee in the law, say the fee is essential to prevent rates from skyrocketing when insurers get an influx of unhealthy customers next year. The fee is part of a new insurance landscape created by the health law that will forbid insurers from denying coverage to people with pre-existing conditions.
The $63 fee will apply to plans covering millions of Americans in 2014. It applies to employers that assume the risk for workers' medical bills, and many private plans sold by insurers. The fee will be smaller for 2015 and 2016, though regulators haven't set those amounts.
MORE - http://finance.yahoo.com/news/employers-blast-fees-health-law-030400728.html?l=1#
Lululemon Looks Ready To Go For A Run http://stks.co/t5VM via @jboorman $LULU
The bases here are funky. Where I am in Kandahar, the living conditions are nice, but the food is ok. Up in Bagram, the living conditions are kind of crappy, but man do they have good food.
The smaller bases also have crappy living conditions, but they make up for it with great food and real nice gyms and MWR facilities.
Off to a few meetings with BDE, will be on later to cheer on the market. Not that it needs any cheering to continue going onward and upward, old Ben has got that taken care of.
Are you sure that article is correct Stuff? I thought George Bush and the evil Republicans are the ones that keep all sorts of secrets, have no transparency, run all sorts of covert wars and detention facilities, etc...
I am SURE the media will continue pounding this story, like they are still delving deep into the Mexican Gun Fiasco, the Bengazhi attacks, more etc...
No hoops for me this morning, but will watch tomorrow. Will be cheering on IU, until they play Syracuse.
Citi Adds More Long USD, Short EUR Positions To Its Overlay Portfolio http://stks.co/hOoC
Fed to hold course on stimulus despite debate over risks
1:08am EDT
By Pedro Nicolaci da Costa
WASHINGTON (Reuters) - Federal Reserve officials will spend much of a meeting next week debating the potential risks from the central bank's stimulus plan, but Chairman Ben Bernanke has already signaled he believes the costs of inaction are even greater.
The U.S. central bank looks set to keep buying $85 billion a month in mortgage and Treasury bonds in an effort to encourage investment and bolster a weak economic recovery.
A raft of recent data, from retail sales and manufacturing to employment, has shown the economy gathering some steam. Still, the unemployment rate remains uncomfortably high at 7.7 percent, while low inflation makes policymakers comfortable that there is plenty of room to let the economy run.
"In light of the moderate pace of the recovery and the continued high level of economic slack, dialing back accommodation with the goal of deterring excessive risk-taking in some areas poses its own risks to growth, price stability, and, ultimately, financial stability," Bernanke said on March 1.
The U.S. central bank will likely nod to the improving economic backdrop when it issues a statement at 2 p.m. (1800 GMT) on Wednesday at the end of its two-day meeting. In forecasts accompanying the statement, it is expected to bump up projections for economic growth and lower predictions for unemployment.
However, it is also likely to renew its commitment to keep buying bonds until the employment outlook improves substantially. A Reuters poll published on Wednesday found economists look for the Fed to keep buying bonds for the rest of the year, taking total purchases in its third round of quantitative easing to $1 trillion. <ECILT/US>
It is a prospect that is not without opposition within the central bank. A number of Fed officials have become increasingly vocal about the program's potential side effects, including the possibility of financial instability, asset bubbles or future inflation.
The Fed cut overnight interest rates to near zero in December 2008. It has already bought more than $2.5 trillion in bonds, bloating its balance sheet to more than $3 trillion.
"I would like the (Fed) to begin to taper these purchases with an aim toward ending them before the end of the year," Philadelphia Federal Reserve Bank President Charles Plosser said last week.
"We are trying to be easier and easier and easier," he said. "I think we need to just stop and have some patience."
GAUGING THE ECONOMY'S PROGRESS
Bernanke told Congress last month that the central bank is taking the concerns of Plosser and other officials seriously, and policymakers plan to review the efficacy and costs of the program next week with fresh analysis pulled together by staff.
It will fall to Bernanke, who will hold a news conference at 2:30 p.m. (1830 GMT) on Wednesday, to make sure the concerns expressed by Fed hawks do not scare investors into believing an end to bond purchases is imminent.
"I get the sense that the Fed's attempts to measure the costs are not turning up anything very large," said Joseph Gagnon, a former Fed economist now at the Peterson Institute in Washington.
Right now, the U.S. stock market sees the economy as being in a sweet spot: Things are improving, but are not so hot as to lead the Fed to pare back its support. That optimism helped lift the Dow Jones industrial average .DJI for a 10th straight day on Thursday, the longest string of gains since late 1996. The Dow closed at yet another record high, while the S&P 500 .SPX came within 2 points of its lifetime peak set in 2007.
The U.S. economy created 236,000 jobs last month. That was a positive surprise. But Fed officials are all too aware that the economy still needs another 3 million or so jobs just to get back to its pre-recession levels - and that's not accounting for population growth.
The Fed has vowed to keep official short-term interest rates near zero until the jobless rate falls to 6.5 percent, as long as inflation is not estimated to rise above 2.5 percent.
The majority of economists in the Reuters poll believe the jobless rate threshold will not be reached until at least the second half of 2015. The survey also showed economists expect a large gap, of potentially more than a year, between the end of asset purchases and the first rate rise.
"Fed officials will want to reassure market participants that tightening soon is not in the cards," said Vincent Reinhart, economist at Morgan Stanley and a former Fed staffer.
(Reporting by Pedro Nicolaci da Costa; Editing by Tim Ahmann and Jan Paschal)
China’s Stock Index Rises, Paring Weekly Loss; Airlines Climb
By Bloomberg News - Mar 15, 2013
China’s benchmark stock index rose, paring a weekly loss, after valuations dropped to the lowest level in three months. Airlines and railway shares advanced, overshadowing losses by property developers.
The Shanghai Composite Index (SHCOMP) climbed 0.4 percent to 2,278.40 at the close, after rising as much as 1.8 percent and falling as much as 0.9 percent. A gauge of volatility jumped to a 10-month high. The index is valued at 9.4 times projected 12- month earnings, according to data compiled by Bloomberg. The multiple dropped to 9.3 on March 13, the lowest since Dec. 21. Hainan Airlines Co. (600221) rallied 10 percent and Daqin Railway Co. advanced the most in almost month.
“Stock valuations are low,” said Zhang Ling, general manager at Shanghai River Fund Management Co. “From a five-year horizon, prices will definitely be higher than the current level as China’s economy is still growing. There are also expectations that the new premier will tackle structural problems such as high property prices and will boost consumption.”
--Zhang Shidong. Editors: Allen Wan, Chan Tien Hin
To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at szhang5@bloomberg.net
To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net
Europe Stocks Little Changed as Leaders Meet at Brussels
By Adria Cimino - Mar 15, 2013
European (SXXP) stocks were little changed, with the Stoxx Europe 600 Index near a 4 1/2-year high, as regional governments eased constraints on national budgets amid a deepening euro-area recession. U.S. index futures were also little changed, while Asia stocks rose.
Homeserve, an emergency-repair provider, advanced 1.1 percent after Jefferies Group LLC upgraded its rating of the shares. Vivendi SA slid 3.6 percent after halting the planned sale of its Brazilian phone and Internet unit, GVT. Ingenico (ING) SA lost 4.3 percent as Safran SA’s Morpho plans to sell part of its stake.
The Stoxx 600 fell less than 0.1 percent to 298.5 at 8:10 a.m. in London. Futures on the Standard & Poor’s 500 Index added less than 0.1 percent, while the MSCI Asia Pacific Index advanced 0.6 percent.
The Stoxx 600 is heading for a 1 percent gain this week, on course for a fourth straight weekly advance, its longest winning streak since December. The benchmark measure has risen 6.7 percent this year as data on U.S. payrolls and Chinese exports bolstered confidence in the global economic recovery and central banks around the world continued stimulus measures.
Stock moves may be influenced by the expiration of futures and options contracts today, a process known as witching.
European Union leaders endorsed “structural” budgetary assessments, using code for granting countries such as France, Spain and Portugal extra time to bring down deficits. Still, balanced budgets remained the goal and there was no talk of large-scale spending programs or bond issues.
“If there is too much austerity, there will be too much unemployment,” French President Francois Hollande said at an EU summit in Brussels late yesterday. “Flexibility is necessary if we want to make growth the priority.”
Cyprus Bailout
European political chiefs also paved the way for finance ministers to wrangle a rescue for Cyprus today as the euro area seeks progress toward a bailout that’s been batted about for nine months.
“I can’t imagine that we’ll let the weekend go by without resolving the Cyprus problem,” Luxembourg Prime Minister Jean- Claude Juncker said early today after euro leaders met midway through the two-day summit in Brussels. The EU gathering ends today with a 27-nation discussion of foreign policy, to be followed by a euro-area ministers’ meeting.
In Asia, Japan’s political parties confirmed Haruhiko Kuroda as the Bank of Japan governor as well as Kikuo Iwata and Hiroshi Nakaso as deputies, ushering in a leadership that may push for more monetary stimulus within weeks. The Dow Jones Industrial Average (INDU) extended the longest rally since 1996 yesterday.
U.S. Data
U.S. industrial production grew 0.4 percent in February after a 0.1 percent decline the previous month, according to the median forecast of a Bloomberg survey before reports today. Other data may show manufacturing in the New York area expanded in March and an index of consumer sentiment climbed, according to economists surveyed.
Homeserve advanced 2.5 pence to 225.8 pence after Jefferies upgraded its rating of the shares to buy from hold.
International Consolidated Airlines Group SA jumped 3.5 percent to 271.8 pence. The stock was raised to overweight from equal weight at Morgan Stanley.
Vivendi Slips
Vivendi lost 60 cents to 16.06 euros. The company halted the planned sale of GVT after failing to get a satisfactory bid for the division, which had been valued at 5.2 billion euros ($6.8 billion).
Vivendi (VIV) wasn’t satisfied with the offers it received, a spokesman said yesterday in a phone interview. The Paris-based company now prefers to develop GVT, he said. It solicited bids for the division last year.
Ingenico, a French provider of payment terminals and services, declined 1.98 euros to 44 euros. Safran’s Morpho will sell 6.6 million Ingenico shares, or a 12.57 percent stake, in a private placement, while retaining a 10.2 percent stake.
Dufry AG retreated 2.4 percent to 119.80 Swiss francs. The Swiss operator of duty-free stores in airports reported 2012 revenue of 3.15 billion francs ($3.33 billion), missing analyst estimates. Earnings before interest, taxes, depreciation and amortization also missed forecasts. Dufry said the 2013 general outlook is positive.
To contact the reporter on this story: Adria Cimino in Paris at acimino1@bloomberg.net.
Notable earnings before Friday’s open: $CRME, $PGNX, $ZGNX
Oh come on, READ THE INTRO, none of this penny stuff here please.
Friday's economic calendar:
8:30 Consumer Price Index
8:30 Empire State Mfg Survey
9:00 Treasury International Capital
9:15 Industrial Production
9:55 Reuters/UofM Consumer Sentiment
It is the Army way. Air Force doesn't bother with laundry, you just get nice fresh NEW ones every day.
I guess they are hiring super-models to fly for the Air Force now. Man, the pilot that flew my last bird was just drop dead HOT in the flight suit. I am in the wrong branch!
Oh HELL YEAH!
Good morning N4.
Still think Windows 8 sucks eggs.
Last post before I head out. I guess my computer is messed up, I am seeing SPY as pretty red all of a sudden. Must be a glitch. SEE YA ALL TOMORROW LOTTOS!!
No problem Ske, hope you have a GREAT holiday. EZ will also be celebrating in BIG style, or so he says.
Same here, next meeting will be another long and nasty one, need to get dinner. See ya tomorrow Stuff.
<zh>Adjusted February Retail Sales Rise More Than Expected As Actual Retail Sales Post First Decline In Three Years
http://www.zerohedge.com/news/2013-03-13/adjusted-february-retail-sales-rise-more-expected-actual-retail-sales-post-first-dec
Ah! That ZH headline says it all. SEASONAL ADJUSTMENT. Makes the numbers whatever the heck you want.
Zero and his minions will do whatever it takes to make things look great out there.
Wow, I was off a bit I guess.
Back from the BRUTAL VTC. 3 hours of my life I will never get back. BRUTAL!! And I got another one in just a bit.
Going to see just where in the heck these great retail sales were. That is one heck of a beat!
My underwear HAS to be soiled, brown and yellow, so I know which is the front and which is the back.
How are ya DA? Just out of a brutal 3 hour VTC with higer. It is 3 years of my life I will NEVER get back!
Alrighty, NOW it is time to go to the damn VTC with Bagram. Catch you all later.
By the way, accumulation way to go. Over the years, I have been accumulating some REITs in my Sharebuilder DRIPs account. They have popped real hard as of late, made a nice increase in my holdings! Hope it lasts.
Good morning EZ. Big holiday tomorrow, hope you got the plans all set.
MARCH 14 BABY!!
Best Holiday Ever!
Hello Ske. Do you know what tomorrow is? It is the MAN'S HOLIDAY, one month AFTER the ladies holiday of Valentines. I hope you have plans to celebrate.
Not here, he was where all the big cheeses go, Kabul. I am in the rottenst place here, Kandahar.
We have the best tourist attraction, though: THE POO POND!
(And yep, it is what it is, and SMELLS just great.)
I should be back before the open, and then I will be gone for the VTC with Texas, so a late night here at the office. After that, probably to sleep, had a damn jet take off and fly over our billeting at about 0200, woke my ass up, couldn't get back to sleep. Coffee has been driving me.
Good morning Stuff. Was JUST about to delete it. You are faster than EZ at the All You Can Eat Buffet when the dessert comes out.
Got a 10 minute reprieve from the VTC. I just LOVE IP address conflicts sometimes.
BEAUTIFUL day out here today, nice and sunny.
PLEASE keep this crap off this board. READ THE INTRO, no pinky or penny stocks. Thanks.
*groan* Back later Lottos. Just found out I got a damn VTC in a few minutes, and then I have one later tonight with the States. MESSING UP MY PLANS!!