keep posting those good picks !

good for you !

egt...




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happy new year !

Oil near $81 on US economy, demand optimism
Oil rises to near $81 in European afternoon trade on optimism about 2010 demand, cold weather


Buzz up! 4 Print..By Pablo Gorondi, Associated Press Writer , On Monday January 4, 2010, 7:44 am EST
Oil prices climbed to near $81 a barrel Monday on optimism that a gradual U.S. economic recovery in 2010 will boost demand for crude.

Cold weather in the eastern United States and gains by other currencies against the dollar also helped support prices.

By early afternoon in Europe, benchmark crude for February delivery was up $1.55 to $80.91 a barrel in electronic trading on the New York Mercantile Exchange. The contract added 8 cents to settle at $79.36 on Thursday. Trading was closed Friday for the New Year holiday.

Oil has flirted with the $80 level the last two trading days after jumping from $69 a barrel last month on signs the U.S. economy may be improving. The unemployment rate fell to 10 percent in November from 10.2 percent in October, and the government is scheduled to announced December's results later this week.

"Most people expect the economy to get better this year, and demand should follow," said Victor Shum, an analyst with consultancy Purvin & Gertz in Singapore. "But traders so far lack the conviction to trade oil above $80 for long simply because of there haven't been clear indications of growing demand yet."

Other analysts also underlined that there was still a way to go before thirst for oil returned to earlier levels.

"The bottom line is that demand is improving, but is still a far cry from what it once was," said a report from U.S. consultancy Cameron Hanover.

Uncertainties about demand, high stockpiles of crude and refined products and trading positions defined by the technical analysis of prices were also seen affecting the market.

"We do not think that the fundamental picture and the price structure will allow for the current crude oil prices to be sustained in 2010," said Olivier Jakob of Switzerland's Petromatrix.

Analysts were divided about the impact of a dispute between Russia and Belarus, which is a transit country for oil shipments to Europe through the Druzhba pipeline.

Officials in Belarus said Monday that supplies of Russian oil to Belarus and transit shipments to Europe were continuing despite a dispute over prices.

"Russian crude flows via the northern leg of the Druzhba line are vital, especially for German and Polish refiners, and any uncertainties around feedstock supplies are supporting concerns around the future of the already strongly pressured refiners," said JBC Energy in Vienna.

Petromatrix's Jakob, however, was reminded of a similar dispute between Russia and Belarus in 2007, which was quickly resolved and led to a sharp fall of 7 percent in oil prices.

A weaker dollar also supported prices, making oil cheaper for investors holding other currencies.

Colder weather has also lifted crude prices recently by boosting demand for heating oil and natural gas.

In other Nymex trading in February contracts, heating oil rose 4.98 cents to $2.1654 a gallon and gasoline gained 3.74 cents to $2.0903 a gallon. Natural gas jumped 26.4 cents to $5.836 per 1,000 cubic feet.

In London, Brent crude for February delivery rose $1.57 to $79.50 a barrel on the ICE Futures exchange.

Associated Press writers Alex Kennedy in Singapore and Yuras Karmanau in Minsk, Belarus, contributed to this report.

Stocks futures point to gains to start 2010
Stocks set to open new year higher following gains overseas; ahead of key economic data


Buzz up! 0 Print..Companies:Intel Corporation.Related Quotes
Symbol Price Change
INTC 20.40 0.00


{"s" : "intc","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Stephen Bernard, AP Business Writer , On Monday January 4, 2010, 8:43 am
NEW YORK (AP) -- Stocks appear headed for a higher opening Monday on the first day of trading in the new year following the lead of overseas markets. Stock futures rose.

An analyst's ratings upgrade of Intel Corp. shares helped push the technology group higher.

Asian markets received a boost after new data showed China's manufacturing sector expanded at its fastest rate in 20 months in December. European markets also rose after the monthly purchasing managers' index, a key gauge of manufacturing activity, for the 16 countries that use the euro rose to a 21-month high and a similar survey for Britain rose to a 25-month high.

In the U.S., investors will receive key data throughout the week that could show the economic recovery is continuing, including a report on manufacturing Monday. Ongoing signs of a rebound helped the market surge during the final nine months of 2009 from its 12-year lows.

The Institute for Supply Management's manufacturing index is expected to show modest growth in the sector last month. Economists polled by Thomson Reuters, on average, forecast the ISM's index for December will increase to 54 from 53.6 a month earlier.

The report is due out at 10 a.m. EST.

A report from the Commerce Department Monday is expected to show construction spending dipped 0.4 percent in November. The report is also due out at 10 a.m. EST.

Ahead of the opening bell, Dow Jones industrial average futures rose 59, or 0.6 percent, to 10,424. Standard & Poor's 500 index futures rose 6.40, or 0.6 percent, to 1,117.10, while Nasdaq 100 index futures rose 17.50, or 0.9 percent, to 1,876.25.

The technology sector was getting a boost after Robert W. Baird & Co. upgraded chipmaker Intel Corp. to "Outperform" and increased its price target on the stock to $26. Shares rose 38 cents to $20.78 in premarket trading.

On Friday, the Labor Department releases its monthly employment report. Considered the biggest economic report of the month, it will likely set the early tone for trading in 2010.

Economists surveyed by Thomson Reuters are forecasting that 23,000 jobs were lost, a further signal that the job market is starting to stabilize. The government said employers cut just 11,000 jobs in November, far fewer than anticipated. That pushed the unemployment rate down to 10 percent.

Stocks closed out 2009 on a down note, with major indexes all falling around 1 percent in light, holiday-shortened trading on Thursday. The market was closed Friday for the New Year's holiday.

An upbeat reading on weekly jobless claims sparked concerns the government would have to cut stimulus measures in the coming months, such as low interest rates, to help avoid potential inflation. A much stronger than expected report Friday on monthly employment could stoke similar concerns.

Federal Reserve Chairman Ben Bernanke said Sunday he wouldn't rule out higher interest rates to stop new speculative investment bubbles from forming. However, he did say stronger regulation is the best way to avoid such bubbles that helped push the economy into recession.

Meanwhile, bond prices were mixed Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was flat at 3.84 percent, compared with late Thursday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.09 percent from 0.05 percent.

The dollar fell against other major currencies, while gold prices rose.

Overseas, Japan's Nikkei stock average rose 1 percent. In afternoon trading, Britain's FTSE 100 gained 0.7 percent, Germany's DAX index rose 0.6 percent, and France's CAC-40 gained 1.1 percent.

Buzz up! 0

lol...

;o)

Futures higher ahead of housing, confidence data
Stocks look to extend gains; investors await readings on home prices, consumer confidence


Buzz up! 0 Print..By Sara Lepro, AP Business Writer , On Tuesday December 29, 2009, 7:06 am
NEW YORK (AP) -- Stocks are looking to extend their gains into a seventh straight day as investors anticipate positive readings on home prices and consumer confidence.

Overseas markets are also higher. Other markets, including bonds and commodities, are little changed.

U.S. stock futures edged higher Tuesday ahead of the Standard & Poor's/Case-Shiller October index of home prices, to be released at 9 a.m. Eastern time. Later Tuesday morning, the Conference Board will release its Consumer Confidence Index for December.

Trading has been quiet in recent days, as many investors take vacation between the Christmas and New Year's holidays. But even in light volume, the market continues to plod higher, adding to the big gains logged over the previous 10 months, amid improving economic data. The Standard & Poor's 500 index has risen 2.3 percent in the past six days to a new high for the year.

Ahead of the market's open, Dow Jones industrial average futures rose 33, or 0.3 percent, to 10,520. Standard & Poor's 500 index futures rose 4.50, or 0.4 percent, to 1,126.60, while Nasdaq 100 index futures rose 3.50, or 0.2 percent, to 1,878.

The latest reading on home prices is expected to show a decline in October from year-ago levels, but likely an increase on a monthly basis. Government programs to boost home sales have helped prices improve since June. Economists predict the Standard & Poor's/Case-Shiller home price index of 20 major cities fell 7.2 percent compared to October last year.

Economists expect the Conference Board's Consumer Confidence Index to rise to 52 in December from 49.5 in November. While still a long way from what is considered healthy -- a reading above 100 signals strong growth -- the index has risen significantly from a historic low of 25.3 in February.

The better consumers are feeling about the economy, the more they will be willing to spend. Consumer spending is an important driver of economic growth. On Monday, stocks rose after a report showed retail sales improved this holiday season.

Government bonds were little changed Tuesday. The yield on the benchmark 10-year Treasury note held steady at 3.85 percent. The Treasury Department will issue $42 billion of five-year notes later Tuesday as part of its latest round of auctions.

The dollar slipped against other major currencies. Oil prices fell 22 cents to $78.55 a barrel in electronic premarket trading on the New York Mercantile Exchange. Gold prices gave up $1 to $1,106 an ounce.

Overseas, Japan's Nikkei stock average inched up 0.04 percent and Hong Kong's Hang Seng index gained 0.1 percent. In late morning trading in Europe, Britain's FTSE 100 was up 0.6 percent, Germany's DAX index added 0.1 percent, and France's CAC-40 rose 0.3 percent.

Oil down to near $78 a barrel after big surge
Oil down to near $78 a barrel in Europe after surging on US cold snap


Buzz up! 0 Print..By Pablo Gorondi, Associated Press Writer , On Tuesday December 29, 2009, 7:32 am
Oil prices fell to near $78 a barrel Tuesday as the dollar recovered against the British pound and the yen. Expectations of falling U.S. stockpiles and gains on stock markets helped contain the retreat.

By early afternoon in Europe, benchmark crude for February delivery was down 37 cents to $78.40 a barrel in electronic trading on the New York Mercantile Exchange. Earlier in the session, the contract touched a high of $79.01.

The contract settled up 72 cents at $78.77 on Monday after surging above $79 as an extended cold snap in the U.S. triggered an end-of-year rally in energy futures.

Futures contracts for oil, natural gas and heating oil have all become more expensive this month as snow storms blanketed parts of the U.S. and a sharp drop in supplies of crude and other fuels surprised traders.

Analysts say oil could rise above $80 before the end of the year if U.S. inventories later this week show a drop in stockpiles, which would suggest improving demand in the world's largest economy. It would be the fourth consecutive week decline in U.S. inventories.

Some analysts, however, said that the end-of-year thin trading was distorting the market.

"We continue to be of the opinion that real driver of the oil market last week and this week is the lack of trading volume in the futures market and not really the lack of oil supplies," said Olivier Jakob of Petromatrix in Switzerland. "We do not want to draw hard conclusions on the balance of the oil markets in such a holiday environment."

Providing a positive cue for oil were small gains in most Asian and European stock markets -- sometimes a barometer for oil traders of confidence in the economy.

The dollar's exchange rate also continued to influence oil prices. Oil, which is traded in dollars, often moves in the opposite direction to the currency.

While the euro was up to $1.4443 from $1.4376 in New York late Monday, the British pound dropped to $1.5997 from $1.6003 and the dollar edged up to 91.68 Japanese yen from 91.59 yen.

In other Nymex trading in January contracts, heating oil rose 0.30 cent to $2.0765 gallon while gasoline fell 0.35 cent to $2.0149 a gallon. Natural gas fell 3.1 cents to $5.959 per 1,000 cubic feet.

In London, Brent crude for February delivery fell 43 cents to $76.89 a barrel on the ICE Futures exchange

Oil holds near $78 a barrel in Asia
Oil holds near $78 a barrel in Asia as inventories awaited, may end year on stronger note


Buzz up! 1 Print..By Eileen Ng, Associated Press Writer , On Monday December 28, 2009, 3:52 am EST
KUALA LUMPUR, Malaysia (AP) -- Oil prices held near $78 a barrel Monday in Asia ahead of inventory figures later in the week that could send it through the $80 mark.

Benchmark crude for February delivery was flat at $78.05 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Trading was thin due to the holiday season.

The contract rose $1.38 to settle at $78.05 on Thursday, the first time in more than a month that it closed above $78. Oil markets were closed on Friday for Christmas.

Inventory figures from the Energy Information Administration later this week will determine if oil prices can end the year above $80 a barrel, said Clarence Chu, a trader with Hudson Capital Energy in Singapore.

The government last week reported a crude stocks drawdown of five million barrels and if inventories continue to decline -- suggesting improved demand -- it will be a boost to crude prices.

Improved employment figures in the U.S. last week also buoyed sentiment and raised expectations of stronger consumer spending.

"There is an upside bias and oil can close the year above $80 a barrel but fundamentals are still weak and don't support oil at this level," Chu said.

He expects crude inventories to build up again in January, which could easily drag oil prices back down to $70.

In other Nymex trading in January contracts, heating oil rose 1.1 cents to $2.05 while gasoline rose 1.1 cents to $2. Natural gas added 13.9 cents to $5.78 per 1,000 cubic feet.

In London, Brent crude for February delivery rose 18 cents to $76.49 on the ICE Futures exchange.

Shoppers spend a little more during holiday season
Holiday shoppers spend a little more, but weaker gift card sales may mean rough January


Buzz up! 1 Print..Companies:Taubman Centers Inc..
AP - Pedestrians pass Macy's Saturday, Dec. 26, 2009 in New York. Deal-hunting shoppers headed to America's malls ...

Related Quotes
Symbol Price Change
TCO 37.66 0.00


{"s" : "tco","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Anne D'Innocenzio, AP Retail Writer , On Monday December 28, 2009, 6:16 am EST
NEW YORK (AP) -- Holiday shoppers spent a little more this season, according to data released Monday, giving merchants some reason for cheer.

The spending bounce means retailers managed to avoid a repeat of last year's disaster even amid tight credit and double-digit unemployment. Profits should be healthier, too, because stores had a year to plan their inventories to match consumer demand and never needed to resort to fire-sale clearances.

Retail sales rose 3.6 percent from Nov. 1 through Dec. 24, compared with a 2.3 percent drop in the year-ago period, according to figures from MasterCard Advisors' SpendingPulse, which track all forms of payment, including cash.

Adjusting for an extra shopping day between Thanksgiving and Christmas, the number was closer to a 1 percent gain.

Last year, the economy was in "critical condition," said Michael McNamara, vice president at MasterCard Advisors' SpendingPulse. "This year, it's in stable condition."

A major winter storm that slammed the Northeast and shut in shoppers on the Saturday before Christmas derailed sales. But consumers appeared to have made up for the loss by shopping in advance of the storm and the days leading up to Christmas.

"We had a pretty decent surge," McNamara said.

Online sales were a particular hot spot, fueled by a big increase the weekend before Christmas. They rose 15.5 percent on the season, though they make up less than 10 percent of all retail sales.

One worrisome sign: Merchants are facing big hurdles to lure shoppers back in January amid lean inventories and what appear to be weak gift card sales. Gift card sales are recorded only when they are redeemed.

Stores count on a post-Christmas boost because of the growing importance of January on the retail sales calendar. Last year, the week after Christmas accounted for 15 percent of overall holiday sales, according to ShopperTrak, a research firm.

Retail consultant Burt P. Flickinger describes gift cards as "the lifeblood" of the post-Christmas season, because shoppers typically spend more than the value of the cards.

"Retailers with a disappointing December are going to need January to survive," Flickinger said. "Inventories are even too low for retailers."

Karen MacDonald, a spokeswoman at Taubman Centers Inc., said a survey among its centers this past weekend showed that merchants are on track to generate on average low single-digit sales increases from a year ago, though they still have a week to go.

MacDonald noted that the centers had a strong last-minute sales surge, and this past weekend, business has been strong. She added that 85 percent of shoppers are buying, 10 percent are exchanging and about 5 percent are returning items.

Gift card redemption rates have been discouraging this weekend, she said. They averaged 10 percent, based on a sampling of malls, she said. In good years, those rates are anywhere from 30 to 40 percent. That confirms that gift card sales were just "lukewarm," she said.

"Shoppers are seeing more value in deeply discounted merchandise" than buying gift cards, MacDonald said.

Ricki Smith, 30, of Prairie Village, Kan., had no returns and was hunting for bargains Saturday at the local Walmart store.

"Today, I bought mostly clearance stuff, stuff that got marked down to half-price, " she said. She added that there were a lot of leftover bath sets, which were mostly what she bought. "The Christmas area, the actual decorations, it was pretty picked over," she said.

Among the hottest sectors this shopping season, according to SpendingPulse:

-- Consumer electronics, up 5.9 percent, helped by flat-panel TVs, smart phones, cameras and video games.

-- Footwear, up 5 percent.

-- Jewelry, up 5.6 percent. Last year, jewelry sales fell 30 percent.

Weaker area included luxury items, whose 0.8 percent increase came nowhere near making up for last year's 20 percent decline. Apparel sales fell 0.4 percent on top of a 19 percent decline last year.

A full picture of how individual retailers did will not be known until Jan. 7, when many report December sales.

AP Writer Heather Hollingsworth in Roeland, Kan., contributed to this report.

Gains overseas, retail sales data boost futures
US stock futures creep higher following gains overseas, good news on retail sales


Buzz up! 0 Print..Companies:Delta Air Lines Inc.Ual Corporation.
AP - FILE - In this Dec. 26, 2009 file photo, Delores Simmons, of Dorchester Mass., stands next to her ...

Related Quotes
Symbol Price Change
DAL 11.77 0.00

UAUA 13.09 0.00


{"s" : "dal,uaua","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Sara Lepro, AP Business Writer , On Monday December 28, 2009, 7:51 am
NEW YORK (AP) -- U.S. stock futures crept higher Monday as investors returning from a long holiday weekend were heartened by good news on retail sales.

Overseas markets were also higher. The dollar weakened against other currencies, giving commodities prices a boost. Bond prices fell.

Data released Monday showed shoppers opened their wallets more this season, a good sign that consumers are feeling better about the economy.

Figures from MasterCard Advisors' SpendingPulse, which track all forms of payment, show retail sales rose 3.6 percent from Nov. 1 through Dec. 24, compared with a 2.3 percent drop a year ago. Adjusting for an extra shopping day between Thanksgiving and Christmas, the number was closer to a 1 percent gain.

Consumer spending is one of the biggest drivers of economic growth and is vital to a sustained recovery.

Investors will also be keeping a close eye on airline stocks after a failed attack on a Northwest flight on Christmas Day. Another incident on the same flight to Detroit from Amsterdam on Sunday raised further alarm.

Shares of Delta Air Lines Inc., which owns Northwest, slipped 14 cents to $11.63 in premarket trading. UAL Corp., which operates United Airlines, fell 42 cents, or 3.3 percent, to $12.67.

Stocks are currently at their highest levels of the year, and in the absence of any bad news, analysts say the market is likely to drift higher during the final days of 2009. Trading volume has been extremely light due to the holidays, which can exaggerate price swings. Markets were closed on Friday for Christmas and will be closed again this Friday for New Year's Day.

Ahead of the market's open, Dow Jones industrial average futures rose 4, or 0.04 percent, to 10,470. Standard & Poor's 500 index futures gained 1.20, or 0.1 percent, to 1,123.20, and Nasdaq 100 index futures rose 4.25, or 0.2 percent, to 1,872.25.

Overseas, Japan's Nikkei stock average rose 1.3 percent to its highest close since late August, boosted by encouraging news on factory production. In afternoon trading, Germany's DAX index rose 0.7 percent, while France's CAC-40 rose 0.8 percent. Britain's FTSE 100 was closed for a holiday.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.85 percent from 3.80 percent Thursday.

Commodities prices rose as the dollar fell. Commodities are priced in U.S. dollars, so when the greenback is weak they become more attractive to foreign buyers.

The ICE Futures U.S. dollar index, which measures the dollar against other major currencies, slipped 0.1 percent. Oil prices gained 35 cents to $78.40 a barrel in electronic premarket trading on the New York Mercantile Exchange. Gold prices also rose.

Major stock indexes ended a holiday-shortened session Thursday at new highs for the year following upbeat reports on unemployment and durable goods orders. This week, readings on home prices and consumer confidence are among the few economic reports expected.

Stocks have managed to grind higher this month despite lingering concerns about the economic recovery. But the gains have been more subdued than in recent months as investors have held back on taking risks heading into the end of the year. The Standard & Poor's 500 index is up 66.5 percent since hitting 12-year lows in March.

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it's strikin' like lightnin'...

Oil rises above $77 after US crude supply drop
Oil peaks above $77 before retreating in Europe as US crude supplies drop more than expected


Buzz up! 1 Print..Companies:The McGraw-Hill Companies, Inc..Related Quotes
Symbol Price Change
MHP 34.11 0.00


{"s" : "mhp","k" : "c10,l10,p20,t10","o" : "","j" : ""} Pablo Gorondi, Associated Press Writer, On Thursday December 24, 2009, 7:47 am
Oil prices hit a three-week high above $77 a barrel Thursday before surrendering most of its gains as a larger than expected drop in U.S. crude supplies fueled investor optimism that consumer demand is improving.

By early afternoon in Europe, benchmark crude for February delivery was up 21 cents to $76.88 in electronic trading on the New York Mercantile Exchange amid light volume, Christmas Eve holiday trading. Earlier in the session, it peaked at $77.48, its highest price since Dec. 4.

The contract rose $2.27 to settle at $76.67 on Wednesday after the Energy Department's Energy Information Administration said U.S. crude inventories fell 4.9 million barrels. Analysts had expected a drop of 2.0 million barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

Distillates stocks also declined by a higher-than-expected 3.1 million barrels, while gasoline supplies fell by 900,000 barrels.

Oil prices also received support from a slightly weaker dollar, which makes oil priced in the U.S. currency cheaper for investors holding euros and other notes. On Thursday, the euro rose to $1.4355 from $1.4337 late Wednesday in New York, while the British pound rose to $1.5965 from $1.5953 and the dollar dropped to 91.58 Japanese yen from 91.68 yen.

Crude has jumped from $69 a barrel last week on investor expectations that global crude demand, especially from Asia, will rebound next year and help boost prices. Oil prices have more than doubled from a year ago, and most analysts are forecasting crude will average between $75 and $85 in 2010.

In other Nymex trading in January contracts, heating oil fell 0.05 cent to $2.0113 while gasoline lost 0.62 cent to $1.9604. Natural gas jumped 5.1 cents to $5.872 per 1,000 cubic feet.

In London, Brent crude for February delivery fell 22 cents to $75.23 on the ICE Futures exchange.

Associated Press writer Alex Kennedy in Singapore contributed to this report

Asian markets rise as China affirms loose policy
Asian stocks rise amid expectations China to maintain loose monetary policy; Europe gains


Buzz up! 0 Print..Greg Keller, AP Business Writer, On Thursday December 24, 2009, 6:32 am EST
PARIS (AP) -- European stock markets moved sideways Thursday as trading at some of the continent's major bourses was subdued before the Christmas holiday.

In Europe, the FTSE-100 index of leading British shares was up 11.27 points or 0.2 percent at 5,384, while France's CAC-40 was up 3.16 points or 0.1 percent at 3,914.20. Germany's DAX was closed for the day, while the London market was scheduled to close early at 12:30 p.m. because of the holiday.

Gains were seen capped ahead of the long weekend with sharply constrained trading volumes as well as a surprisingly weak U.S. housing report Wednesday that showed sales of new homes dropped in November to the lowest level since April.

Contrary to many expectations, stocks around the world have rallied this week -- many analysts were anticipating a modest pullback as investors shut up shop for the year by booking profits accumulated during the nine-month bull market.

Earlier Asian markets shrugged off a lackluster performance on Wall Street to move higher Thursday amid expectations China will maintain loose monetary policy.

There was also an element of catch-up for Asian stocks as the region's markets, up massively from their March lows, have this month lagged gains in developed markets. Oil prices held above $77 a barrel while the dollar fell slightly versus the yen and the euro.

China's Shanghai Composite Index jumped 79.63 points, or 2.6 percent, to close at 3,153.41 and Hong Kong's Hang Seng climbed 188.26, or 0.9 percent, to 21,517.

Japan's Nikkei 225 stock average rose to a fresh three-month high as the yen's recent weakness lifted exporters amid thin Christmas season trade. The index gained 158.89 points, or 1.5 percent, to 10,536.92, the highest finish since late September.

Most other markets gained, including Seoul's Kospi, which added 1.3 percent, and Taiwan's Taiex, up 0.8 percent. On Friday, markets around the world will be closed for the Christmas holiday though Japan and China will continue to trade.

On Wednesday, the Dow Jones industrial average rose 1.51, or 0.01 percent, to 10,466.44. The Standard & Poor's 500 index rose 2.57, or 0.2 percent, to 1,120.59, while the Nasdaq composite index gained 16.97, or 0.8 percent, to 2,269.64.

The U.S. stock performance came amid mixed economic data.

The Commerce Department said sales of new homes plunged 11.3 percent in November to their lowest level since March, confounding economists who had forecast an increase.

On the positive side, personal incomes rose 0.4 percent in November -- the fastest rate in four months -- helped by higher wages. Spending rose 0.5 percent. Both figures, however, fell slightly short of market expectations.

Mark Tan, who helps manage about SG$15 billion ($10.7 billion) of equities and bonds at UOB Asset Management in Singapore, said Asian markets were playing a bit of catch-up.

"Basically, Asia has underperformed the developed markets this month," he said.

Oil prices extended gains above $77 a barrel in Asia as a larger than expected drop in U.S. crude supplies fueled investor optimism that consumer demand is improving.

Benchmark crude for February delivery was up 65 cents to $77.32 in electronic trading on the New York Mercantile Exchange. The contract rose $2.27 to settle at $76.67 on Wednesday.

In currencies, the dollar fell 0.3 percent to 91.27 yen but remains near its highest level since late October. The euro rose 0.2 percent to $1.4359.

AP Business Writers Kelly Olsen in Seoul and Joe McDonald in Beijing, and Associated Press Writer Shino Yuasa in Tokyo contributed to this report.

good for you !

Stock futures point to higher opening
Stocks set for modest gains at open; investors prepare for unemployment, durable goods reports


Buzz up! 0 Print..Stephen Bernard, AP Business Writer, On Thursday December 24, 2009, 7:45 am
NEW YORK (AP) -- Stock futures are pointing to a modestly higher opening Thursday, as new reports on unemployment and durable goods orders are expected to show the economy is continuing its recovery.

Overseas markets rose. Asian markets rallied on expectations China will maintain loose monetary policy.

Investors are expecting the new data ahead of Thursday's abbreviated session to show the economy is rebounding. It comes a day after a disappointing report on sales of new homes in November renewed caution about the speed of the recovery.

Economists predict orders to U.S. factories for big-ticket manufactured goods rebounded in November, rising 0.5 percent, according to Thomson Reuters. Durable goods orders, which are for items expected to last at least three years, fell 0.6 percent in October.

The Commerce Department releases the report at 8:30 a.m. EST.

A separate report is expected to show new claims for unemployment benefits fell by 10,000 to a seasonally adjusted level of 470,000 the previous week. Eventual job growth is considered vital for a strong recovery.

The Labor Department's weekly unemployment report is due out at 8:30 a.m. EST.

Ahead of the opening bell, Dow Jones industrial average futures rose 24, or 0.2 percent, to 10,428. Standard & Poor's 500 index futures increased 2.90, or 0.3 percent, to 1,118.50, while Nasdaq 100 index futures rose 2.75, or 0.2 percent, to 1,855.00.

The market will close early Thursday and be closed Friday for the Christmas holiday. Trading has been light throughout the week heading into the holiday season. Low volume can exaggerate market movements.

Stocks eked out gains on Wednesday as rising commodities prices pushed energy and materials stocks slightly higher. Commodities rose as the dollar fell for the first time in four days. A weaker dollar makes commodities more attractive for foreign investors.

The boost from energy and materials stocks helped offset the disappointing report on sales of new homes. The Commerce Department said sales of new homes in November tumbled 11.3 percent to their lowest level since March. The Dow rose less than 0.1 percent, while the S&P gained 0.2 percent.

Meanwhile, bond prices were little changed Thursday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.74 percent from 3.75 percent late Wednesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.06 percent from 0.05 percent.

The dollar fell against other major currencies, while gold prices rose.

Overseas, Japan's Nikkei stock average rose 1.5 percent. Britain's FTSE 100 rose 0.5 percent and France's CAC-40 rose 0.1 percent. Germany's market was closed for Christmas.

another good call !

it didn't...

what's up with tmr?

i know...but the news will move the markets somewhat

Geithner: Job growth should resume by springtime
Treasury's Geithner: Economy ticking up, people should expect healthier job growth by spring


Buzz up! 0 Print..On Wednesday December 23, 2009, 7:32 am
WASHINGTON (AP) -- Treasury Secretary Timothy Geithner says he believes it's reasonable to expect "positive job growth" by spring and that people should have confidence about an improving economic climate.

In an interview broadcast on ABC's "Good Morning America," Geithner (GYT'-nur) also said he believes many banks around the country still have work ahead of them to regain the public's faith. He said, "They need to work very hard to shore it up" and said he wasn't certain that "all banks get it."

Geithner's stewardship of the Treasury has come in for criticism on occasion. He said Wednesday, "I think most people would say the economy actually is strengthening now going into the end of the year," but that the key is to regain lost jobs.

November new home sales seen rising 2.3 percent
New home sales expected to have grown 2.3 pct in November, marking 3rd straight month of gains


Buzz up! 0 Print..Companies:Beazer Homes Usa Inc.Dr Horton Inc.Hovnanian Enterprises Inc..
AP - FILE - In this Aug 26, 2009 file photo, a sold sign is posted outside a recently sold ...

Related Quotes
Symbol Price Change
BZH 5.05 0.00

DHI 11.15 0.00

HOV 4.13 0.00

KBH 13.80 0.00

LEN 13.27 0.00


{"s" : "bzh,dhi,hov,kbh,len,mdc,mho,mth,nvr,phm,ryl,tol","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Alan Zibel, AP Real Estate Writer , On Wednesday December 23, 2009, 6:50 am
WASHINGTON (AP) -- Sales of new homes are expected to have increased in November for the third month in a row, a sign that the housing market is finally on solid ground.

The Commerce Department's report on November's new home sales is forecast to show a 2.3 percent increase to a seasonally adjusted annual rate of 440,000, from 430,000 in October, according to economists polled by Thomson Reuters.

The report will be released Wednesday at 10 a.m. EST. It counts signed contracts to buy homes, rather than completed sales, so it will capture consumer reaction to Congress' decision last month to extend and expand a homebuyer tax credit.

First-time buyers will still be able to save up to $8,000, and now homeowners who have lived in their current properties for at least five years can claim a tax credit of up to $6,500 if they relocate. To qualify, buyers must ink a deal by the end of April.

Still, some analysts don't think the new deadline will have an immediate impact on sales, because many buyers won't act until the 11th hour approaches.

"Buyer traffic is likely to be flat until spring," said Mark Vitner, senior economist with Wells Fargo Securities.

And builders aren't brimming with enthusiasm this winter. The National Association of Home Builders said last week its index of industry confidence fell to the lowest level since June, reflecting concern that job losses and a slow economic recovery will continue to stifle demand.

The real estate recovery is not only dependent on taxpayer dollars but also on the economy, which grew at a slower pace in the third quarter than originally thought. The economy grew at a 2.2 percent rate in the July-September period, down from an initial reading of 2.8 percent, the government said Tuesday.

Robert Toll, CEO of luxury builder Toll Brothers Inc. said earlier this month demand has been "choppy" after several strong months in the spring and summer.

"You just have to bite the finger, be patient, and wait until you see what comes out in the latter part of January, all of February and in the early part of March," he said.

Home resales, meanwhile, are at the highest level in nearly three years. The National Association of Realtors said Monday that sales rose 7 percent from October to a seasonally adjusted annual rate of 6.54 million in November.

Stock futures point to 4th straight day of gains
Stocks headed for higher opening; investors await data on personal income, home sales


Buzz up! 0 Print..By Stephen Bernard, AP Business Writer , On Wednesday December 23, 2009, 6:54 am
NEW YORK (AP) -- Stocks are set to rise for the fourth straight day as investors gain confidence in a building economic recovery.

Traders get key reports on consumer spending and income as well as new home sales Wednesday that are expected to show further improvement.

Overseas markets are rising as well.

Economists expect that consumer spending and incomes rose in November.

New homes sales also likely grew last month. Stocks rose Tuesday following a better-than-expected report on sales of existing homes.

Ahead of the opening bell, Dow Jones industrial average futures are up 23, or 0.2 percent, at 10,431. Standard & Poor's 500 index futures are up 3.80, or 0.3 percent, at 1,117.40, while Nasdaq 100 index futures are up 7.25, or 0.4 percent, at 1,848.25.

Oil rises to near $75 amid US crude supplies fall
Oil rises to near $75 in Asia after US crude supplies fall, housing resales jump


Buzz up! 0 Print..Companies:The Mcgraw-Hill Companies, Inc..Related Quotes
Symbol Price Change
MHP 33.64 0.00


{"s" : "mhp","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Alex Kennedy, Associated Press Writer , On Wednesday December 23, 2009, 6:56 am
SINGAPORE (AP) -- Oil prices rose to near $75 a barrel Wednesday in Asia after a report showed U.S. crude inventories fell last week and a jump in housing sales suggested the world's biggest economy is picking up speed.

Benchmark crude for February delivery was up 36 cents to $74.76 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.

The contract rose 68 cents to settle at $74.40 on Tuesday after the Organization of Petroleum Exporting Countries said the 12-nation cartel won't change production quotas, a move widely expected by investors. OPEC leaders called on group members to adhere more closely to current quotas and reduce cheating.

Prices were boosted by signs U.S. oil demand may be picking up. U.S. crude inventories fell more than expected last week, the American Petroleum Institute said late Tuesday. Crude stocks fell 3.7 million barrels while analysts had expected a drop of 2.0 million barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The Energy Department's Energy Information Administration plans to announce its inventory report later Wednesday.

News that November home resales jumped 7.4 percent, above a forecast 2.5 percent, also supported the case for stronger crude demand in the U.S.

In other Nymex trading in January contracts, heating oil rose 1.04 cents to $1.96 while gasoline gained 0.87 cent to $1.90. Natural gas fell 4.5 cents to $5.67 per 1,000 cubic feet.

In London, Brent crude for February delivery rose 46 cents to $73.92 on the ICE Futures exchange.

Buzz up! 0

bring it on !

looks like jan/feb are the mos for acls...




http://finance.yahoo.com/q/ta?s=ACLS&t=my&l=on&z=m&q=l&p=&a=&c=

you made bank on...



clne

OPEC keeps oil supply unchanged

Buzz up! 1 Print..
Reuters - Angola's Oil Minister and OPEC President Jose Maria Botelho de Vasconcelos prepares for a news conference in the ...
On Tuesday December 22, 2009, 7:38 am EST
By Alex Lawler and Henrique Almeida

LUANDA (Reuters) - OPEC oil producers agreed on Tuesday to keep their supply curbs unchanged but may face an uphill battle to improve compliance with those restrictions if they want to drain bulging global fuel inventories.

The Organization of the Petroleum Exporting Countries that pumps about 50 percent of the world's oil exports has seen crude prices almost double since the start of the year after it sliced output when recession hit fuel demand.

OPEC is content with oil valued at $73.40 for U.S. crude on Tuesday, prices having fluctuated over the past month in the $70-$80 range that many in OPEC say they prefer.

"At between $70 and $80, everyone is happy," Saudi Oil Minister Ali al-Naimi said. "The current price is good for consumers, producers and investors."

OPEC's biggest producer, Saudi Arabia, has made clear that it does not want to risk letting fuel prices get out of hand for fear of stunting a fragile recovery in world economic growth.

LAX COMPLIANCEE

But Naimi and several other ministers expressed concern at the decline in adherence with quota restrictions that has pushed up inventories in industrialized consumer nations to 60 days worth of demand.

"We expect more," Naimi said of compliance.

While Saudi and its Gulf allies Kuwait and the UAE are at or near full compliance with output cuts, Angola, Nigeria and Iran have made little or no contribution.

Some market analysts think OPEC may need to get closer to output targets if it wants to keep prices above $70 a barrel going into 2010.

"We suspect the ensuing price bias will be to the downside," said Edward Meir of MF Global.

"In the least, (market) participants may be unnerved by OPEC's continuing refusal to tighten export quotas, and in fact, given energy's bearish fundamentals, the cartel is lucky prices are not lower than they actually are," said Meir.

Stricter adherence to the self-imposed 4.2 million barrels-a-day of reductions in force throughout this year would skim inventories to levels more acceptable to producers.

Compliance with the restrictions peaked in February at about 80 percent but has since slipped to 60 percent, adding about 800,000 bpd or 3 percent to OPEC supplies over the past nine months.

Iraqi Oil Minister Hussain al-Shahristani said that by sticking to agreed targets, OPEC could mop up excess inventory.

"If the members restrict themselves to agreed levels of production that would eliminate more than more than one million barrels a day from the market," said Shahristani. "There's no need to revise the agreement, we just need to comply with it."

"Given expectations in the market for demand, which is still pretty weak, in the first part of next year they could come under pressure to do something," said Neil Atkinson of KBC Market Services from the sidelines of the meeting in Luanda.

(Additional reporting Simon Webb, Barbara Lewis, Rania al-Gamal, writing by Richard Mably, editing by William Hardy)

Stock futures point toward higher opening
Stocks set for gains at opening even after worse-than-expected report on economic growth


Buzz up! 0 Print..Companies:Bucyrus International Inc.Chattem Inc.Banco Santander-Chile.Related Quotes
Symbol Price Change
BUCY 55.84 0.00

CHTT 93.14 0.00

SAN 62.09 0.00

STT 42.26 0.00

TEX 20.94 0.00


{"s" : "bucy,chtt,san,stt,tex","k" : "c10,l10,p20,t10","o" : "","j" : ""} By Stephen Bernard, AP Business Writer , On Tuesday December 22, 2009, 8:55 am
NEW YORK (AP) -- Stock futures retreated from their highs Tuesday after a report showed economic growth in the third quarter was not as strong as previously forecast.

However, investors appear to be shaking off the worse-than-expected data as the economy is still showing signs of growth. Stocks are set to open higher.

Overseas markets strengthened. A report that the British economy did not contract as much as previously thought in the third quarter sparked a rally in Europe.

The U.S. government said the nation's economy grew at an annual rate of 2.2 percent in the third quarter, smaller than the previous estimate of 2.8 percent. The Commerce Department cut the reading because consumers didn't spend as much, commercial construction weakened and companies reduced inventories.

But the economy returned to growth during the quarter after a record four straight quarters of decline, and many analysts believe the economy is on track for a better finish in the current quarter.

Traders are awaiting a report that is expected to show sales of existing homes rose to their highest level in nearly three years. Economists predict home sales rose 2.5 percent to a seasonally adjusted annual rate of 6.25 million in November, from 6.1 million in October.

A sharp decline in sales and home prices coupled with rising defaults helped push the nation into recession. Any signs of improvement in the market would further boost confidence in the speed of the recovery.

The National Association of Realtors' report is scheduled to be released at 10 a.m. EST.

Ahead of the opening bell, Dow Jones industrial average futures rose 29, or 0.3 percent, to 10,371. Standard & Poor's 500 index futures rose 3.50, or 0.3 percent, to 1,111.70, while Nasdaq 100 index futures rose 8.00, or 0.4 percent, to 1,833.50.

Trading is expected to be light throughout the holiday-shortened week, which can exaggerate price swings. The market is closed Friday for Christmas.

Stocks are set to extend gains into Tuesday after moving sharply higher a day earlier. Corporate dealmaking and a push toward healthcare overhaul on Capitol Hill fueled big gains. Major indexes rose about 1 percent.

Among the deals, French drug maker Sanofi-Aventis SA said Monday it plans to buy U.S. health care products company Chattem Inc. for $1.9 billion, and mining equipment maker Bucyrus International Inc. said it will acquire Terex Corp.'s mining equipment division for $1.3 billion.

Corporate acquisitions are often seen as a sign of an improving economy as companies that had held onto cash during a downturn look for new places to invest their money.

International deals continued Tuesday, as Boston-based State Street Corp. agreed to buy the securities services business of Italian banking group Intesa Sanpaolo for $1.87 billion.

Meanwhile, bond prices continued to fall as optimism for recovery grows. Investors typically sell long-term bonds during a rebound because of fears inflation will increase during that time. Inflation is bad for bonds because it eats into their fixed returns.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.71 percent from 3.68 percent late Monday. The yield on the 10-year note reached its highest level since August earlier in the day.

The yield on the three-month T-bill, considered one of the safest investments, rose to 0.08 percent from 0.05 percent. Short-term rates remain low because they are closely tied to interest rates set by the Federal Reserve. The Fed has said it has no plans to alter rates in the coming months. The growing gap between short- and long-term bonds provides further evidence investors are becoming more confident.

The dollar was mixed against other major currencies, while gold prices declined to their lowest level since early November.

Overseas, Japan's Nikkei stock average rose 1.9 percent. In afternoon trading, Britain's FTSE 100 rose 0.9 percent, Germany's DAX index gained 0.2 percent, and France's CAC-40 rose 0.6 percent

Recovery not as strong as previously thought
Economy grows at 2.2 percent pace in 3rd quarter; recovery slower than previously thought


Buzz up! 3 Print..
AP - In this Dec. 17, 2009 photo, a worker guides a steel beam into place on a new building ...
By Jeannine Aversa, AP Economics Writer , On Tuesday December 22, 2009, 9:02 am
WASHINGTON (AP) -- The economy grew at a 2.2 percent pace in the third quarter, as the recovery got off to a weaker start than previously thought. However, all signs suggest the economy will end the year on stronger footing.

The Commerce Department's new reading on gross domestic product for the July-to-September quarter was slower than the 2.8 percent growth rate estimated just a month ago. Economists were predicting that figure wouldn't be revised in the government's final estimate on third-quarter GDP.

The main factors behind the downgrade: consumers didn't spend as much, commercial construction was weaker, business investment in equipment and software was a bit softer and companies cut back more on inventories, according to Tuesday's report.

Despite the lower reading, the economy managed to finally return to growth during the quarter, after a record four straight quarters of decline. That signaled the deepest and longest recession since the 1930s had ended, and the economy had entered into a new fragile phase of recovery.

Many analysts believe the economy is on track for a better finish in the current quarter.

The economy is probably growing at nearly 4 percent in the October-to-December quarter, analysts say. If they're right, that would mark the strongest showing since 5.4 percent growth in the first quarter of 2006 -- well before the recession began. The government will release its first estimate of fourth-quarter economic activity on Jan. 29.

Yet even such growth wouldn't be enough to quickly drive down the unemployment rate, now at 10 percent. High unemployment and tight credit for both consumers and businesses are expected to continue to weigh on the economic recovery. Many economists predict the economy's growth will slow to a pace of around 2 or 3 percent in the first three months of 2010.

Growth in the final quarter is expected to be driven by companies restocking depleted inventories. Stocks of goods were slashed at a record pace during the recession. So even the smallest pickup in customer demand will force factories to step up production and boost overall economic activity in the final quarter.

Stronger sales of exports to foreign customers, as well as spending by U.S. consumers and businesses, also will help underpin fourth-quarter growth.

It's been a wild ride for the economy this year. In the first three months, it shrank at a pace of 6.4 percent -- its worst downhill slide in 27 years.

The recession eased in the second quarter, with the economy dipping at a pace of just 0.7 percent. The economy returned to growth in the third quarter.

But much of the third quarter's growth was supported by government stimulus spending. The Cash for Clunkers rebates and an $8,000 tax credit for first-time home buyers buoyed sales of cars and homes. The clunkers program ended in August, though the tax credit has been extended and expanded beyond first-time buyers.

The government makes three estimates of GDP, which measures the value of all goods and services produced in the United States, for a given quarter. Each estimate is based on more complete data. The government's initial estimate for the third quarter was more energetic, showing the economy's growth at a 3.5 percent pace. Subsequent estimates, however, showed the recovery was actually slower.

Tuesday's report showed consumer spending grew at a 2.8 percent pace, slightly weaker than the 2.9 percent pace previously estimated and one of the factors behind the lower overall reading.

Retail sales, however, showed decent momentum in October and November, raising hopes that holiday sales would fare better than last year, which was the worst in nearly four decades.

Still, unlike previous economic recoveries, consumers, whose spending accounts for 70 percent of overall economic activity, aren't expected to solely power this one. Businesses and the government are having to pitch in more.

A trouble spot for the economy -- the commercial real-estate market -- was clearly visible in Tuesday's report.

Builders slashed spending on commercial building projects at an annualized pace of 18.4 percent in the third quarter. That was sharper than the 15.1 percent pace previously estimated and contributed to the GDP downgrade.

Business spending on equipment and software, meanwhile, grew at a 1.5 percent pace, less than the 2.3 percent growth rate estimated a month ago.

Furthermore, businesses cut inventories more deeply, by $139.2 billion in the third quarter. However, with inventories at rock-bottom levels, businesses are starting to replenish them, which should support the economy.

It's unclear how the recovery will fare once the government withdraws stimulus programs put in place to combat the financial crisis and the recession. If consumers pull back on spending, the economy could tip back into recession.

Economists at Capital Economics predict the recovery will slow, with the economy's growth fading to just 1.5 percent in 2011.

Against that backdrop, the Federal Reserve pledged last week to keep interest rates at a record low to help the recovery gain traction.

Faced with the prospects of high unemployment well into the 2012 presidential election year, President Barack Obama wants the government to take further steps to put Americans back to work. The House last week passed some provisions that Obama has pushed to aid job growth. But it didn't include new tax breaks for small businesses that hire.

The administration credits its $787 billion package of tax cuts and increased government spending with improving employment, though Republicans argue it did not help much.

good call !

Merry Christmas !




http://www.jigzone.com/puzzles/54055D5005CA

Jose Feliciano - Feliz Navidad

The Kwanzaa Song by Billy Paul Williams

Adam Sandler original Chanukah (Hanukkah) Song