Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
the arrow to the left of the tune...
Oil rises above $78 in Asia on bargain hunting
Oil rises above $78 a barrel in Asia on bargain hunting amid weaker dollar
Buzz up! 0 Print..Companies:Alcoa, Inc.Intel Corporation.Related Quotes
Symbol Price Change
AA 15.63 0.00
INTC 20.80 0.00
{"s" : "aa,intc","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Eileen Ng, Associated Press Writer , On Tuesday January 19, 2010, 3:50 am EST
KUALA LUMPUR, Malaysia (AP) -- Oil prices rose above $78 a barrel Tuesday in Asia, spurred by bargain hunting amid a weaker dollar.
Benchmark crude for February delivery was up 2 cents to $78.02 a barrel at late afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. On Monday, the contract fell to as low as $77.07 before settling at $78 in European trade. The U.S. markets were closed Monday for the Martin Luther King public holiday.
"A combination of investors looking at prices approaching $77 as a buy opportunity and positive European equities performance have caused a turnaround in oil," said Victor Shum, energy analyst with consultancy Purvin & Gertz in Singapore.
European stock markets rose Monday amid speculation of a pickup in corporate dealmaking though Asia's markets mostly fell Tuesday.
Shum said a weaker dollar also boosted oil, making crude priced in dollars cheaper for investors holding those currencies. The euro rose to $1.4403 from $1.4380 on Monday and the dollar fell to 90.37 yen from 90.73 yen.
However, he said oil prices are likely to stay rangebound while waiting for cues from upcoming fourth quarter corporate earnings in the U.S. So far, earnings have been mixed, with better-than-expected earnings from the likes of Intel Corp. offset by disappointments elsewhere, most notably Alcoa Inc.
Banks will be in the spotlight especially after U.S. stocks fell 1 percent on Friday -- the Dow Jones industrial average suffered its worst day of the year so far -- as JP Morgan Chase & Co. offered a cautious earnings guidance even though it reported a fairly strong set of results.
In other Nymex trading in February contracts, heating oil fell 1.6 cent to $2.03 a gallon while gasoline was down 0.5 cent at $2.04 a gallon. Natural gas futures shed 10.1 cents to $5.59 per 1,000 cubic feet.
In London, Brent crude for March delivery fell 36 cents to $76.75 a barrel on the ICE Futures exchange.
World stocks fall amid JAL bankruptcy, US earnings
World stock markets weak amid Japan Airlines bankruptcy, caution ahead of more US earnings
Buzz up! 1 Print..Companies:Citigroup, Inc.Starbucks Corp.Wells Fargo Company.
AP - An investor chat with another at a private securities company Tuesday, Jan. 19, 2010 in Shanghai, China. Chinese ...
Related Quotes
Symbol Price Change
C 3.42 0.00
SBUX 23.27 0.00
WFC 28.08 0.00
{"s" : "c,sbux,wfc","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Jeremiah Marquez, AP Business Writer , On Tuesday January 19, 2010, 4:09 am EST
HONG KONG (AP) -- World stock markets were mostly lower Tuesday as Japan Airlines filed for bankruptcy in one of the nation's largest corporate failures and investors awaited a batch of earnings from major U.S. companies.
The lackluster trade came after Wall Street was closed for a holiday and European shares advanced Monday as investors focused on possible corporate mergers. Oil prices hovered near $78 a barrel, while the dollar slipped against the yen and the euro.
This week brings another round of quarterly results from bellwethers like Citigroup Inc. and Wells Fargo & Co., both of which are seeking to bolster their finances after being bailed out with tens of billions in taxpayer money during the crisis. Starbucks Corp. will also release results. In each case, investors will be paying close attention to what company results indicate about the state of consumer demand.
As European markets opened, benchmarks in Germany, France and Britain were down 0.5 percent or more. Futures augured a modest rise Tuesday on Wall Street. S&P futures were up 1.2 points, or 0.1 percent, at 1,133.50.
In Tokyo, the Nikkei 225 stock average slipped 90.18, or 0.8 percent, to 10,764.90 with exporters hit by the stronger yen. After the market closed, Japan Airlines filed for bankruptcy, ending months-long speculation about its fate and launching a massive overhaul to shed the fat and inefficiency that hobbled Asia's biggest airline.
JAL shares, which have lost more than 90 percent of their value over the last week, tumbled another 20 percent Tuesday to 4 yen before finishing flat at 5 yen. The company is now essentially worthless, with a market capitalization of about 10.9 billion yen ($120 million) -- less than the price of one Boeing 787 jet.
Elsewhere, Hong Kong's Hang Seng gained 217.97, or 1 percent, to 21,677.98 and China's Shanghai index edged up 9.78 points, or 0.3 percent, to close at 3,246.87.
But most other Asian markets fell. South Korea's Kospi lost 0.1 percent to 1,710.22, Australia's market shed 1 percent, India's Sensex was down 0.4 percent and Taiwan retreated 1.1 percent.
Oil prices rose above $78 before retreating in late afternoon trade. Benchmark crude for February was down 16 cents to $77.82 in electronic trading on the New York Mercantile Exchange.
In currencies, the dollar slipped to 90.44 yen from 90.73 yen. The euro traded higher at $1.4392 from $1.4380.
under the boardwalk~~john mellencamp
http://music.myspace.com/index.cfm?fuseaction=music.artistalbums&artistid=11019128&ap=0&albumid=5116
when a man loves a woman~~bette midler
http://music.myspace.com/index.cfm?fuseaction=music.artistalbums&artistid=11435477&ap=0&albumid=9144577
do you want to dance~~bette midler
http://music.myspace.com/index.cfm?fuseaction=music.artistalbums&artistid=11435477&ap=0&albumid=9144577
waiting for...
egt to light the candles
Orion Party Bash MLK Day Contest Pick
lol...wnc
my pick is...
wnc
my pick is...
wnc
am i too late for the party?
lol...how true
Orion Party Bash/MLK Contest 18-22 January 2010 / WIN 3 month free Subscription to IHUB
"PLEASE READ RULES BELOW"
Visit and Boardmark the board
http://investorshub.advfn.com/boards/board.aspx?board_id=12753
3 Month Free Subscription to IHUB
Rules: ONE STOCK PICK ENTRY
1.) No OTCBB or Pinkies stocks
2.) Only Stocks between $1.00 - $5.99
3.) Winner Will be determined by highest week increase % on stock. Total weekly % gain entry will be the closing price from 15 and 22 January 2010.
4.) Post your pick- No earlier 4:01 PM Friday 15 January and no later than 2400 PST Hours on January 17th, 2010.
5.) Title all messages (posts) with "Orion Party Bash MLK Day Contest Pick"
6.) No one can have the same stock. First to post gets first selection.
Orion Party Bash/MLK Contest 18-22 January 2010 / WIN 3 month free Subscription to IHUB
"PLEASE READ RULES BELOW"
Visit and Boardmark the board
http://investorshub.advfn.com/boards/board.aspx?board_id=12753
3 Month Free Subscription to IHUB
Rules: ONE STOCK PICK ENTRY
1.) No OTCBB or Pinkies stocks
2.) Only Stocks between $1.00 - $5.99
3.) Winner Will be determined by highest week increase % on stock. Total weekly % gain entry will be the closing price from 15 and 22 January 2010.
4.) Post your pick- No earlier 4:01 PM Friday 15 January and no later than 2400 PST Hours on January 17th, 2010.
5.) Title all messages (posts) with "Orion Party Bash MLK Day Contest Pick"
6.) No one can have the same stock. First to post gets first selection.
good morning !
Intel outlook points to PC industry recovery
Intel's bright expectations for 2010 point to real PC recovery, not holiday shopping blip
Buzz up! 3 Print..Companies:Advanced Micro Devices Inc.Clearwire CorporationIntel Corporation.
AP - FILE - In this Jan. 7, 2010 file photo, people are silhouetted in front of the Intel sign ...
Related Quotes
Symbol Price Change
AMD 9.00 0.00
CLWR 7.77 0.00
INTC 21.48 0.00
MSFT 30.96 0.00
{"s" : "amd,clwr,intc,msft","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Jessica Mintz, AP Technology Writer , On Friday January 15, 2010, 12:02 am EST
Intel's fourth-quarter earnings breezed past Wall Street's expectations, and its rosy profit outlook for 2010 was another sign that a lasting recovery for the recession-battered personal computer market is under way.
As the first major technology company to report its results for the last quarter, Intel is seen as a barometer for the PC market and for technology spending in general. Its revenue beat the Street, as did its gross margin, which can measure how well Intel managed costs.
Investors were restrained in their enthusiasm. Shares of the No. 1 maker of computer microprocessors edged up less than one percent in after-hours trading. Earlier, the stock had gained 2.5 percent to end the regular session at $21.48.
PC shipments grew more sharply than expected in the fourth quarter, a promising sign after a brutal year for the industry during the recession. Intel, which supplies the vast majority of the "brains" inside computers, rode the resurgence of consumer PC shopping to a profit of $2.3 billion, or 40 cents per share.
That was more than nine times as much as it earned in the year-ago quarter, when profit totaled $234 million, or 4 cents per share.
Intel also posted its highest gross profit margin in history, at 64.7 percent. A higher gross margin number means the chipmaker was able to turn more revenue into profit. It's a key measure for a manufacturing-intensive company such as Intel because it reflects how well costs are held in check.
Revenue climbed 29 percent to $10.6 billion, as Intel sold more chips, many at higher prices than in the past.
Analysts expected a profit of 30 cents per share and $10.2 billion in revenue, according to a Thomson Reuters survey.
It's never clear whether chip sales line up with demand for new computers. PC makers might be buying more than they need to replenish low supplies or fewer than they need to preserve cash. But Intel clearly sees the fourth quarter as more than a holiday shopping-induced blip.
Stacy Smith, Intel's chief financial officer, said in an interview that he believes consumer spending will continue to drive growth in Intel's business in 2010. While Intel hasn't yet seen signs that big companies are feeling freer to replace old computers, the CFO said he believes it will happen this year, once the companies have finished testing the new Windows 7 system from Microsoft Corp. that will be installed on most new workplace PCs.
Intel executives also said the company would hire more employees as part of an increased focus on research and development.
Doug Freedman, an analyst for Broadpoint AmTech, said he wasn't surprised investors weren't more effusive. Shares had gained steadily over the last few weeks as it began to seem Intel would beat expectations. And Intel's investors have a long-term perspective on Intel, treating it more like a manufacturer than a technology company.
For the current quarter, Intel forecast revenue from $9.3 billion to $10.1 billion, and a gross profit margin of 59 percent to 63 percent. For the full year, it expects a 61 percent gross margin.
Analysts had forecast first-quarter revenue of $9.3 billion, a quarterly gross margin of 59 percent and an annual gross margin of about 55 percent.
Intel delivered strong fourth-quarter results despite having to pay $1.25 billion to settle antitrust charges brought by Silicon Valley rival Advanced Micro Devices Inc., the world's No. 2 microprocessor maker. That cut 22 cents from Intel's bottom line. The company also had said, however, that the payment would lower its tax rate because legal settlements are tax deductible.
In the comparable quarter last year, Intel's earnings were hurt by a $1 billion charge for a reduction of the value of its investment in wireless networking company Clearwire Corp. That sliced 17 cents from the company's profit.
Intel's full-year earnings fell 21 percent to $4.4 billion, or 77 cents per share, from $5.3 billion, or 92 cents per share in 2008. Revenue slipped 7 percent to $35.1 billion from $37.6 billion a year ago.
Analysts were looking for earnings of 67 cents on $35.1 billion in revenue.
Oil slips below $79 amid stronger US dollar
Oil slips below $79 in Europe as traders eye stronger US dollar, weak crude demand
Buzz up! 4 Print..Companies:Bank Of America Corporation.
AP - A natural gas flame burns as the setting sun colours the sky Thursday, Jan. 14, 2010, in the ...
Related Quotes
Symbol Price Change
BAC 16.82 0.00
{"s" : "bac","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Pablo Gorondi, Associated Press Writer , On Friday January 15, 2010, 7:00 am EST
Oil prices dropped below $79 a barrel Friday amid a strengthening U.S. dollar and weak crude demand in developed countries.
By early afternoon in Europe, benchmark crude for February delivery was down 77 cents to $78.62 a barrel in electronic trading on the New York Mercantile Exchange. On Thursday, the contract fell 26 cents to settle at $79.39.
The euro was down to $1.4371 Friday from $1.4500 on Thursday, while the British pound dipped to $1.6273 from $1.6332. Investors often buy commodities such as oil as a hedge against inflation when the dollar weakens and sell when it strengthens.
Crude prices also fell on concerns demand from the U.S. and Europe remains weak.
Retail sales in the United States fell 0.3 percent in December, while economists had been expected an increase.
"The U.S. retail sales data ... was not as good as expected and put a cap on the global markets," said Olivier Jakob of Petromatrix in Switzerland.
Some analysts expect growth in demand from developing countries such as China will help make up for sluggish economic recoveries in rich nations.
Francisco Blanch, head of global commodities research for Bank of America Merrill Lynch, said 75 percent of the 2.3 percent growth in global crude demand this year will likely come from developing economies.
"I'm not saying demand from OECD countries is going back to the previous highs, but we've fallen very sharply and now we're stabilizing and coming up a little bit," Blanch told reporters in Singapore.
He expects crude to average $78 a barrel in the first half, $92 in the second.
A monthly report from the Paris-based International Energy Agency on Friday held steady its forecast for world oil demand this year, predicting a slight rebound in consumption led largely by developing economies in Asia.
"Oil demand recovery in the OECD is likely to remain sluggish, despite a bout of recent cold weather," the IEA said, predicting average global demand of 86.3 million barrels a day this year, or 1.4 million barrels a day more than in 2009.
In other Nymex trading in February contracts, heating oil fell 2.22 cents to $2.0607 a gallon and gasoline slid 1.28 cents to $2.0610 a gallon. Natural gas futures lost 5.6 cents to $5.532 per 1,000 cubic feet.
In London, Brent crude for February delivery fell 91 cents to $77.66 a barrel on the ICE Futures exchange.
Associated Press writer Alex Kennedy in Singapore contributed to this report.
Stock futures lower ahead of economic reports
.
Alcoa, Inc.Jpmorgan Chase Co..
By Ieva M. Augstums, AP Business Writer
Stock futures dipped Friday ahead of government reports on consumer prices and industrial production in December that could provide more clues about the state of the economy.
The market appeared to be unimpressed with an earnings report from JPMorgan Chase & Co. While the banking giant's profit for the fourth quarter beat Wall Street forecasts, its revenue was weaker than expected and its shares fell.
Intel, the biggest computer chip maker, had also surprised investors late Thursday by reporting one of the most profitable quarters in its history.
Markets in Asia rose modestly on that news.
Before the U.S. market opens, the government provides two fresh readings on the economy.
The Labor Department is likely to report that consumer prices in December rose 0.2 percent after rising 0.4 percent in November, according to forecasts of analysts polled by Thomson Reuters. The report, which is due out at 8:30 a.m. EST, is also likely to show that consumer prices for 2009 posted their first annual drop since 1954.
Later in the morning, the Federal Reserve issues its report on production from factories, mines and utilities for December. Economists predict that industrial production rose 0.6 percent, after rising 0.8 percent the previous month.
Dow Jones industrial average futures fell 36, or 0.3 percent, to 10,627. Standard & Poor's 500 index futures fell 5.50, or 0.5 percent, to 1,139.70, while Nasdaq 100 index futures fell 10.25, or less than 0.5 percent, to 1,878.00.
Investors are getting used to seeing mixed data on the economy, and hoped upcoming corporate earnings reports would turn around following a weak showing by aluminum maker Alcoa Inc. on Monday.
Meanwhile, bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.71 percent from 3.74 percent late Thursday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.06 percent from 0.04 percent.
The dollar mostly rose against other major currencies, while gold prices fell.
Overseas, Japan's Nikkei stock average rose 0.7 percent. In afternoon trading, Britain's FTSE 100 was up 0.3 percent, Germany's DAX index was down 0.5 percent, and France's CAC-40 was down 0.6 percent.
Retail sales unexpectedly fall in December
Buzz up! 0 Print..
Reuters - A holiday shopper passes a sale sign at a clothing store in New York December 23, 2009. REUTERS/Mike ...
On Thursday January 14, 2010, 8:34 am
WASHINGTON (Reuters) - Sales at U.S. retailers unexpectedly fell in December as consumer spent less on vehicles and an array of other goods during the holiday shopping month, data showed on Thursday, raising concerns about the durability of the economy's recovery.
The Commerce Department said total retail sales fell 0.3 percent last month, the first decline in three months, after rising by an upwardly revised 1.8 percent in November. Sales in November were previously reported to have increased 1.3 percent.
Analysts polled by Reuters had forecast retail sales gaining 0.5 percent last month.
Compared to December 2008, sales rose 5.4 percent, but fell 6.2 percent for the whole of 2009.
Motor vehicle purchases fell 0.8 percent, while sales at electronics and appliance stores dropped 2.6 percent.
The data, coming in the wake of a report last week showing a surprise drop in non-farm payrolls in December, could add to worries that the economic expansion that started in the third quarter of 2008 could falter once government stimulus ends.
Stubbornly high unemployment remains the weakest link in the recovery from the worst economic downturn since the 1930s. Job worries are expected to constrain consumer spending, which normally accounts for more than two-thirds of economic activity.
Excluding motor vehicles and parts, retail sales fell 0.2 percent in December, the biggest decline since July, after rising 1.9 percent the prior month. Economists had expected a 0.3 percent increase.
Core retail sales, which excludes autos, gasoline and building materials, fell 0.3 percent after rising 0.9 percent in November.
Stock futures mixed after jobs, retail sales data
Stock futures mixed after unemployment, retail sales reports fall short of expectations
Buzz up! 0 Print..Companies:Alcoa, Inc.Intel CorporationSap Ag.Related Quotes
Symbol Price Change
AA 15.98 0.00
INTC 20.96 0.00
SAP 50.39 0.00
{"s" : "aa,intc,sap","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Stephen Bernard, AP Business Writer , On Thursday January 14, 2010, 8:43 am
NEW YORK (AP) -- Stock futures are narrowly mixed after new reports showed jobless claims rose more than expected last week and retail sales unexpectedly fell in December.
Futures had been gaining momentum heading into the reports after software maker SAP reported upbeat preliminary quarterly results.
The Labor Department says workers filing for unemployment benefits for the first time rose by 11,000 to a seasonally adjusted 444,000.
The Commerce Department says retail sales fell 0.3 percent. Economists had expected a 0.5 percent increase.
Dow Jones industrial average futures are up 3, or less than 0.1 percent, at 10,631. Standard & Poor's 500 index futures are up 0.40, or less than 0.1 percent, at 1,142.00, while Nasdaq 100 index futures are down 1.00, or 0.1 percent, at 1,881.50.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
NEW YORK (AP) -- Stock futures rose modestly Thursday, pointing to a higher opening, after software maker SAP AG reported upbeat preliminary quarterly results.
Futures had been narrowly mixed earlier Thursday as investors avoided making any big bets before new economic reports on jobless claims, retail sales and business inventories.
The preliminary earnings report from SAP reassured investors that earnings might be improving along with the global economy. After Alcoa Inc.'s disappointing earnings report on Monday, investors had become cautious that the expected recovery was not yet boosting corporate earnings.
Chipmaker Intel Corp. releases its quarterly results after the market closes. The chipmaker's earnings and any forecast for future performance will be watched closely for insight into consumer and corporate spending on technology.
Ahead of the opening bell, Dow Jones industrial average futures rose 15, or 0.1 percent, to 10,643. Standard & Poor's 500 index futures rose 1.50, or 0.1 percent, to 1,143.10, while Nasdaq 100 index futures rose 1.75, or 0.1 percent, to 1,884.25.
Investors get fresh readings on the economy throughout the morning that could provide more evidence of a growing rebound. The Federal Reserve boosted stocks on Wednesday, saying in its Beige Book report on regional trends that the recovery was spreading geographically.
The Labor Department releases its weekly jobless claims data at 8:30 a.m. EST. The report is expected to show first-time requests for unemployment insurance rose by 3,000 to a seasonally adjusted 437,000, according to economists polled by Thomson Reuters. Despite the weekly uptick in new claims, economists expect the number of people continuing to collect unemployment benefits declined by 30,000 to about 4.8 million.
The Commerce Department is expected to say more people were out shopping during the holiday season last month. Economists predict retail sales likely rose 0.5 percent in December, after rising 1.3 percent in November.
A steady increase in retail sales is considered vital to a recovery because consumer spending accounts for more than two-thirds of all economic activity.
The retail sales report is also due out at 8:30 a.m. EST.
Shortly after the market opens, traders will get a reading on business inventories. After companies cut inventories for more than a year during the recession, it is expected they added to stockpiles for the second straight month in November.
If retail spending continues to increase, it is expected businesses will start to add to their inventories to keep up with growing demand, further fueling a recovery.
Economists expect inventories rose 0.2 percent in November. The Commerce Department releases the information at 10 a.m. EST.
Stocks rose Wednesday, led in part by financial stocks after the appearance by bank CEOs on Capitol Hill did not dissuade investors from jumping into the sector. The executives testified before Financial Crisis Inquiry Commission, which is investigating the near collapse of the financial system and credit markets in the fall of 2008.
The panel will be meeting with regulators on the topic on Thursday.
Meanwhile bond prices rose, a day after the government easily sold $21 billion in 10-year notes. The yield on the benchmark 10-year note, which moves opposite its price, fell to 3.78 percent from 3.80 percent late Wednesday.
The dollar rose. Gold prices rose modestly.
Overseas markets rallied as investors became more comfortable with China's recent moves to tighten monetary policy. Economists say China is making the moves, such as forcing banks to hold more reserves, to discourage excess lending and the country will not cut back on stimulus spending or raise benchmark interest rates.
The European Central Bank also said it would leave its key interest rates unchanged.
Japan's Nikkei stock average rose 1.6 percent. Britain's FTSE 100 gained 0.4 percent, Germany's DAX index rose 0.5 percent, and France's CAC-40 gained 0.4 percent.
outstanding animation !
China's curbs on bank lending weigh on markets
World stock markets fall as China's lending curbs stoke economic recovery concerns
Buzz up! 1 Print..Companies:Alcoa, Inc.Intel CorporationJpmorgan Chase Co..
AP - Investors gather at a private securities company Wednesday Jan. 13, 2010 in Shanghai, China. Chinese shares fell Wednesday ...
Related Quotes
Symbol Price Change
AA 15.52 0.00
INTC 20.61 0.00
JPM 43.49 0.00
{"s" : "aa,intc,jpm","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Pan Pylas, AP Business Writer , On Wednesday January 13, 2010, 8:34 am
LONDON (AP) -- European stock markets and Wall Street futures held steady Wednesday though China's moves to curb bank lending stoked concerns that further monetary tightening may slow down economic recovery in Asia.
In Europe, the FTSE 100 index of leading British shares was down 8.09 points, or 0.2 percent, at 5,490.62 while France's CAC-40 rose 1.69 points, or less than 0.1 percent, to 4,001.74. Germanys DAX, which fell more than its European counterparts on Tuesday, was up 19.32 points, or 0.3 percent, at 5,962.32.
A fairly subdued opening is expected for Wall Street -- Dow futures were up 13 points, or 0.1 percent, at 10,601 while the broader Standard & Poor's 500 futures rose 2.8 points, or 0.3 percent, at 1,136.70.
Earlier, Hong Kong and Shanghai led Asia down after Chinese authorities raised the proportion of deposits that banks must hold in reserve from next Monday by half a percentage point. The People's Bank of China also raised the yield it is offering on its one-year bills, its second increase in interbank markets in a week.
China has helped support the global economy during the recession and investors are worried it may not be such a big motor of growth in the months ahead, especially if interest rates start to rise, too.
"These moves have weighed on equity markets as investors fret that this is the beginning of a more serious tightening of Chinese monetary policy," said Neil Mackinnon, global macro strategist at VTB Capital.
However, Mackinnon said it is premature to say that this represents the beginning of a "serious tightening" of monetary policy in China which could derail the economy.
A fairly disappointing start to the fourth quarter U.S. corporate reporting season from Alcoa Inc. earlier this week also continued to weigh on markets.
James Hughes, market analyst at CMC Markets, said the 11 percent share price decline in Alcoa Tuesday "will have many worried about what weaker earnings reports will do."
With economic data this week on the light side, attention will continue to focus on earnings statements to see if the increasing optimism on Wall Street, which has driven a ten-month bull run in stock markets, is justified by the fundamentals.
Key earnings statements on the horizon include those from Intel Corp., the world's biggest chipmaker, on Thursday and Friday's results from JP Morgan Chase & Co.
JP Morgan's results come after a profit warning from French bank Societe Generale SA reminded investors that banks still have toxic assets on their books that could still hobble an economic recovery.
Shares in France's second largest bank slid by around 4 percent after it said fourth-quarter profits would be lower than market expectations as it booked another euro1.4 billion ($2 billion) in writedowns and provisions.
Earlier in Asia, Hong Kong's Hang Seng slid 578.04 points, or 2.6 percent, to 21,748.60 and in mainland China, the Shanghai benchmark tumbled 3.1 percent to 3,172.66.
Japan's Nikkei 225 stock average fell 144.11, or 1.3 percent, at 10,735.03, with Japan Airlines down another 81 percent on top of Tuesday's 45 percent collapse as investors worried about an imminent bankruptcy filing.
South Korea's Kospi shed 1.6 percent to 1,671.41, Singapore's index fell 0.8 percent and Australia's market retreated by 0.6 percent.
Oil prices lost more ground after a report showed an unexpected jump in U.S. inventories of distillates and gasoline and traders worried about the impact of slower Chinese economic growth. Benchmark crude for February delivery was down 72 cents to $80.07 a barrel in electronic trading on the New York Mercantile Exchange.
The dollar rose to 91.30 yen from 90.99 yen. The euro rose to $1.4563 from $1.4482.
US stock futures rise after market slide
Stock futures edge higher as investors examine Google's plans in China; Kraft boosts forecast
Buzz up! 0 Print..Companies:Alcoa, Inc.Google Inc.Goldman Sachs Group Inc..
AP - FILE - In this Dec. 31, 2009 file photo, snow falls outside the New York Stock Exchange in ...
Related Quotes
Symbol Price Change
AA 15.52 0.00
GOOG 590.48 0.00
GS 167.82 0.00
JPM 43.49 0.00
KFT 29.29 0.00
{"s" : "aa,goog,gs,jpm,kft,ms","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Tim Paradis, AP Business Writer , On Wednesday January 13, 2010, 9:05 am
NEW YORK (AP) -- U.S. stock futures rose Wedenesday, a day after a slide in the market, as investors examined Google's threats to leave China and Kraft Foods Inc. raised its full-year profit forecast for the second time in two months.
The news comes as investors await testimony Wednesday about the financial crisis from heads of Wall Street's biggest banks.
Asian markets fell as China's moves late Tuesday to curb bank lending stoked concerns that the pace of the global economic recovery may slow. That was one reason stocks fell Tuesday on Wall Street.
In the U.S., investors examined Google Inc.'s threat to withdraw from China. The company said it will no longer censor its search results in the country after finding that computer hackers had led human-rights activists to reveal their e-mail accounts to outsiders. Google's public complaints were a rare show of protest in the country and an about-face for the company after long saying it would abide by Chinese laws that block some political and socially sensitive content. Google shares fell 2.1 percent in electronic trading. Shares of China's largest search engine, Baidu.com, jumped 15.7 percent.
Kraft, which is in a hostile takeover fight for candy maker Cadbury PLC, raised its forecast late Tuesday citing strong operating gains. Shares of the maker of cheese and products like Maxwell House coffee rose 2 percent.
Meanwhile, investors prepared for appearances by Goldman Sachs Group Inc. Chairman-CEO Lloyd Blankfein, JPMorgan Chase & Co. CEO James Dimon, Morgan Stanley Chairman John Mack and Bank of American Corp. CEO-President Brian Moynihan before the Financial Crisis Inquiry Commission. It is the first meeting of the bipartisan, 10-member panel, which is investigating the near collapse of the financial system in the fall of 2008.
Their appearance comes as public discord over big bank profits and bonuses has the White House considering placing a levy on banks to cover about $120 billion in taxpayer losses from a government Wall Street bailout fund. Opponents say it could jeopardize a recovery by the nation's biggest banks.
Scott Colyer, chief executive at Advisors Asset Management in Monument, Colo., is concerned that imposing a special tax on banks would threaten his expectation for a strong economic rebound in 2010.
"You don't want to take money from a group that you're trying to prop up," he said.
With little economic news to go on, investors bet stocks would rebound after falling Tuesday. Dow Jones industrial average futures rose 12, or 0.1 percent, to 10,600. Standard & Poor's 500 index futures rose 2.30, or 0.2 percent, to 1,136.20, while Nasdaq 100 index futures rose 2.75, or 0.2 percent, to 1,868.25.
Earlier, Japan's Nikkei stock average fell 1.3 percent, China's Shanghai index fell 3.1 percent, and Hong Kong's Hang Seng index lost 2.6 percent. Stocks were mixed in Europe.
On Tuesday, the Dow fell 37 points, or 0.3 percent, while the S&P 500 index lost 0.9 percent in its first drop of 2010. The Nasdaq composite index lost 1.3 percent. The drop came on concern about China's bank policies and downbeat quarterly results from aluminum producer Alcoa Inc.
An improvement in demand for mortgages could boost sentiment Wednesday. The Mortgage Bankers Association said mortgage application volume rose 14.3 percent last week on a seasonally adjusted basis. A four-week average is down 6.4 percent.
Later Wednesday, the Federal Reserve is expected to release its Beige Book, which provides readings on the U.S. economy by region. The report, which is due at 2 p.m. EST, arrives two weeks before policymakers' next meeting.
The Treasury Department also will release budget numbers. Economists polled by Thomson Reuters expect the deficit will total $389 billion, topping the imbalance of $332 billion recorded for the same period last year.
Bond prices fell, pushing yields higher, after jumping Tuesday. The yield on the benchmark 10-year Treasury note rose to 3.75 percent from 3.72 percent late Tuesday.
Crude oil fell 50 cents to $80.29 per barrel in premarket electronic trading on the New York Mercantile Exchange.
The dollar slipped against most other major currencies, while gold rose.
In afternoon trading, Britain's FTSE 100 slipped 0.1 percent, Germany's DAX index rose 0.5 percent, and France's CAC-40 rose 0.1 percent.
last trade $1.70...
mah beav....lmao
bizy...
ain't it da trufe....lol
The economy is so bad that:
I got a pre-declined credit card in the mail.
I ordered a burger at McDonald's and the kid behind the counter asked, "Can you afford fries with that?"
CEO's are now playing miniature golf.
If the bank returns your check marked "Insufficient Funds," you call them and ask if they meant you or them.
Hot Wheels and Matchbox stocks are trading higher than GM.
McDonald's is selling the 1/4 ouncer.
Parents in Beverly Hills fired their nannies and learned their children's names.
A truckload of Americans was caught sneaking into Mexico .
Dick Cheney took his stockbroker hunting.
Motel Six won't leave the light on anymore.
The Mafia is laying off judges.
Exxon-Mobil laid off 25 Congressmen.
Congress says they are looking into this Bernard Madoff scandal. Oh Great!! The guy who made $50 Billion disappear is being investigated by the people who made $1.5 Trillion disappear!
And, finally...
I was so depressed last night thinking about the economy, wars, jobs, my savings, Social Security, retirement funds, etc., I called the Suicide Lifeline. I got a call center in Pakistan , and when I told them I was suicidal, they got all excited, and asked if I could drive a truck.
Stocks fluctuate ahead of Alcoa earnings report
Stocks are mixed ahead of earnings season kickoff; Chinese export data boost recovery hopes
Buzz up! 0 Print..Companies:Alcoa, Inc.Caterpillar Inc..
AP - Traders work on the floor of the New York Stock Exchange Monday, Jan. 11, 2010. Stocks zigzagged early ...
Related Quotes
Symbol Price Change
AA 17.22 +0.20
CAT 63.83 +3.49
{"s" : "aa,cat","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Stephen Bernard and Tim Paradis, AP Business Writers , On Monday January 11, 2010, 2:20 pm
NEW YORK (AP) -- Investors made modest moves Monday as they awaited an earnings report from Alcoa Inc. A drop in the dollar lifted some commodity prices.
Stocks traded in a tight range ahead of Alcoa's report, which will give the market one of the first looks at how companies fared in the final quarter of 2009.
Traders also looked to a report that Chinese exports jumped by nearly 18 percent in December. The bigger-than-expected increase follows 13 straight months of declines. The increase in exports has added confidence to investors who believe a global economic rebound is well under way.
"The global economy is healing," said Roy Williams, CEO of Prestige Wealth Management Group in Flemington, N.J. However Williams cautioned that the recovery will still face "a lot of potholes." On Friday, for example, the Labor Department reported a larger than expected number of job losses for December.
Later Monday, Alcoa kicks off the fourth-quarter corporate earnings season, which the market hopes will provide insight into how fast the economy is recovering.
Keefe, Bruyette & Woods Inc. equity strategist Fred Cannon said investors will be looking at the earnings reports for confirmation that improvements in economic indicators aren't just signaling a restocking of depleted inventories but instead show businesses are drawing customers.
"They're sitting on their hands waiting to see how earnings are going to play out," Cannon said.
In midafternoon trading, the Dow Jones industrial average rose 16.86, or 0.2 percent, to 10,635.05. The Standard & Poor's 500 index slipped 1.11, or 0.1 percent, to 1,143.87, while the Nasdaq composite index fell 12.33, or 0.5 percent, to 2,304.84.
Crude oil fell 15 cents to $82.60 a barrel, while gold and copper rose.
Caterpillar Inc., the world's largest maker of construction and mining equipment, rose $3.65, or 6.1 percent, to $63.99 after the report on China's exports and as some commodity prices gained.
In another positive sign for the economy, Heineken NV said it will buy the beer-making operations of Mexico's Femsa in an all-stock deal that values Femsa at $5.5 billion. Femsa makes Dos Equis, Tecate and Sol beers.
Traders are looking to build on a strong first week to the new year. The Dow advanced 1.8 percent, the S&P 500 index jumped 2.7 percent and the Nasdaq added 2.1 percent last week.
Wall Street's rise during the first week of the year is a promising sign for things to come. The S&P 500 has posted full-year gains 31 of the last 36 times the index rose during the first week of the year, according to the Stock Trader's Almanac.
Bond prices rose, sending the yield on the 10-year Treasury note down to 3.83 percent from 3.84 percent late Friday.
Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 586.6 million shares, compared with 607.6 million shares traded at the same point Friday.
The Russell 2000 index of smaller companies fell 2.08, or 0.3 percent, to 642.48.
Britain's FTSE 100 rose 0.1 percent, Germany's DAX index gained 0.1 percent, and France's CAC-40 climbed 0.2 percent. Japan's market was closed for a holiday.
when is egt pr due?
tia
dr. feelgood, i presume...
it's about time...
it's up .63 now...
Oil rises above $83 amid strong Chinese demand
Oil rises above $83 in Europe on signs of strong Chinese crude demand, weaker dollar
Buzz up! 0 Print..Companies:Chevron Corp..Related Quotes
Symbol Price Change
CVX 79.47 0.00
{"s" : "cvx","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Pablo Gorondi, Associated Press Writer , On Monday January 11, 2010, 8:22 am
Oil prices jumped above $83 a barrel Monday amid signs of strong Chinese demand for crude, a weakening U.S. dollar and a strong flow of speculative funds into commodities.
By early afternoon in Europe, benchmark crude for February delivery was up $1.09 to $83.84 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the contract rose 9 cents to settle at $82.75.
China said Sunday that oil imports rose 14 percent last year to a record high in December, part of a 56 percent surge in overall imports last month. The better than expected Chinese figures helped investors brush off Friday's disappointing U.S. jobless report, which showed the economy lost 85,000 jobs in December and the unemployment rate was steady at 10 percent.
A weaker dollar also helped boost oil prices, as investors buy commodities as a hedge against inflation while crude priced in dollars becomes cheaper in other currencies.
The euro rose to $1.4522 on Monday from $1.4430 on Friday while the British pound advanced to $1.6163 from $1.6032 and the dollar fell to 92.39 Japanese yen from 92.64 yen.
Crude prices have spiked 20 percent in the last month as a rash of cold winter weather in parts of the U.S., Europe and Asia boost demand for oil products such as heating oil.
Amplifying the effects of the frigid climate was a surge into commodities of speculative money with little regard for the basics of supply and demand.
"Investors might be overvaluing and thereby multiplying the impact of cold temperatures," said JBC Energy in Vienna. "To make a significant impact the chilly weather will have to remain with us for months and not weeks."
Analysts at Britain's KBC Market Services said that rising oil prices were the result of speculative decisions, not market fundamentals.
"If prices continue to rise next week, it will be tempting to conclude that we are back in the casino-like oil market conditions we saw in 2008," KBC said in a report. Oil hit a record high of $147 a barrel in July 2008.
Supplies were threatened in Nigeria, where unidentified gunmen attacked a Chevron Corp. crude oil pipeline, cutting production by 20,000 barrels a day, a company spokesman said Saturday.
"While this highlights that Nigeria is still a volatile environment, we are not back to the previous scheme of militancy," said Olivier Jakob of Petromatrix in Switzerland.
In other Nymex trading in February contracts, heating oil rose 2.66 cents to $2.2269 a gallon and gasoline gained 3.58 cents to $2.1911 a gallon. Natural gas futures were down 19.1 cents to $5.558 per 1,000 cubic feet.
In London, Brent crude for February delivery rose 99 cents to $82.32 a barrel on the ICE Futures exchange.
Associated Press writer Alex Kennedy in Singapore contributed to this report.
Stock futures higher after China exports rise
Stock futures rise following overseas gains; investors set for beginning of earnings season
Buzz up! 0 Print..Companies:Alcoa, Inc.Heico Cp Cl A.Related Quotes
Symbol Price Change
AA 17.02 0.00
HEI-A 36.19 0.00
{"s" : "aa,hei-a","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Stephen Bernard, AP Business Writer , On Monday January 11, 2010, 8:01 am
NEW YORK (AP) -- Stock futures are rising, pointing to a higher opening Monday, following strong gains in overseas markets.
Stocks are getting a lift globally after a new report showed Chinese exports jumped by nearly 18 percent in December. The bigger-than-expected increase follows 13 straight months of declines. The increase in exports has added confidence to investors who believe a global economic rebound is well under way.
Investors are set to buy into the market ahead of the start of earnings season. Alcoa Inc. kicks off the flood of reports that will provide insight into how fast the economy is recovering. The aluminum company reports results after the market closes.
Economists polled by Thomson Reuters predict Alcoa earned 6 cents per share in the fourth quarter.
Ahead of the opening bell, Dow Jones industrial average futures rose 33, or 0.3 percent, to 10,599. Standard & Poor's 500 index futures rose 3.80, or 0.3 percent, to 1,145.40, while Nasdaq 100 index futures climbed 4.75, or 0.3 percent, to 1,894.75.
The upbeat report from China has also bolstered commodity prices. A rise in production would push demand for resources higher.
Gold and oil are both sharply higher. Oil rose $1.15 to $83.90 a barrel, while gold is up $18.40 to $1,157.30 an ounce.
In further signs of an improving economy, corporate dealmaking continues to pick up steam. Heineken NV said it will buy the beer-making operations of Mexico's Femsa in an all-stock deal that values Femsa at $5.5 billion. Femsa makes Dos Equis, Tecate and Sol beers.
Stocks are looking to build on a strong first week to the new year. The Dow advanced 1.8 percent, the S&P 500 index jumped 2.7 percent and the Nasdaq added 2.1 percent last week.
Investors brushed off a disappointing report on employment Friday, sending stocks modestly higher to close out the week. The Labor Department said employers cut 85,000 jobs in December, far more than the 8,000 cuts forecast by economists polled by Thomson Reuters. The worse-than-expected report was somewhat offset by a revision that showed companies added 4,000 jobs in November, the first gains in nearly two years.
Wall Street's rise during the first week of the year is a promising sign for things to come. The S&P 500 has posted full-year gains 31 of the last 36 times the index rose during the first week of the year, according to the Stock Trader's Almanac.
Meanwhile, bond prices were little changed Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was unchanged at 3.84 percent compared with late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.05 percent from 0.04 percent.
The dollar fell against other major currencies.
Overseas, Hong Kong's Hang Seng index rose 0.5 percent. Japan's market was closed for a holiday.
Britain's FTSE 100 rose 0.4 percent, Germany's DAX index gained 0.5 percent, and France's CAC-40 climbed 0.7 percent.
post what you enjoy...others will join you
ty...i remember it well
it sure is !
HARRY NILSSON REMEMBER
i like it...