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.
hahaha
Inventories at U.S. Wholesalers Unexpectedly Fall (Update2)
By Courtney Schlisserman
Feb. 9 (Bloomberg) -- Inventories at U.S. wholesalers unexpectedly fell in December following the biggest increase in more than five years, indicating distributors had trouble keeping up with demand.
The 0.8 percent decrease in stockpiles followed a revised 1.6 percent gain in November that was the largest since July 2004, figures from the Commerce Department showed today in Washington. Sales climbed 0.8 percent.
A record inventory drawdown last year has opened the door for manufacturers to pick up production and other companies to increase orders to meet demand. Efforts to prevent stockpiles from falling further in the fourth-quarter provided its biggest boost to economic growth in 20 years and may keep supporting the economy in coming quarters.
“Sales growth is strong and every company is in restocking mode,” Ken Mayland, president of ClearView Economics LLC in Pepper Pike, Ohio, said before the report. “They need a significant rebuild. It’s going to last the next couple of quarters.”
Economists forecast inventories would rise 0.5 percent after a previously estimated 1.5 percent increase in November, according to the median of 31 projections in a Bloomberg News survey. Estimates ranged from a drop of 0.8 percent to a 1 percent gain.
Lean Stockpiles
At the current sales pace, it would take 1.12 months for wholesaler to deplete the amount of goods on hand, the lowest level since a record-low 1.11 reading in June 2008.
Efforts to rebuild depleted inventories contributed 3.4 percent points to gross domestic product in the fourth quarter, the most in two decades.
Private reports suggest stockpile rebuilding has continued to help boost production. The Institute for Supply Management’s factory index rose to 58.4 in January, the highest since August 2004, and the survey’s gauges of production and new orders rose.
Inventories of durable goods, or those meant to last at least three years, decreased 1.1 percent in December, and sales increased 3 percent.
Distributors of machinery, automobiles and metals led the drop in stockpiles as sales increased.
Wholesalers make up about 30 percent of all business stockpiles. Factory inventories, which account for about 38 percent of the total, fell 0.1 percent in December, the Commerce Department said Feb. 4. Retail stockpiles make up the rest and will be included in the Feb. 11 business inventories report.
Better Sales
Rockwell Automation Inc.’s profit fell in the fiscal first quarter less than anticipated and the company raised its 2010 forecast. Demand was strongest in the U.S., led by sales of software and orders from recovering industries including automakers, Chief Executive Officer Keith Nosbusch said in an interview Jan. 27.
Companies “de-stocked to the point where any need had to be filled immediately, one to one, as opposed to before where they were able to take it out of their inventory supply chain,” Nosbusch said.
To contact the reporter on this story: Courtney Schlisserman in Washington at cschlisserma@bloomberg.net
Last Updated: February 9, 2010 10:25 EST
Oil 73.05
djia +145
U.S. Stocks Gain on Greece Speculation; Freeport, Exxon Rise
By Rita Nazareth
Feb. 9 (Bloomberg) -- U.S. stocks rallied, recouping yesterday’s losses, as commodities gained and speculation grew that Greece will get European help with its budget deficit.
Freeport-McMoRan Copper & Gold Inc. and Exxon Mobil Corp. rose at least 1.2 percent as metals advanced in London and crude oil rebounded above $72 a barrel. Coca-Cola Co. advanced 1.8 percent after revenue topped estimates as sales grew in China and India. Electronic Arts Inc. plunged 7.5 percent after the world’s second-largest video-game maker forecast earnings that trailed some analysts’ estimates.
The Standard & Poor’s 500 Index climbed 1.3 percent to 1,070.28 at 9:36 a.m. in New York. The Dow Jones Industrial Average increased 130.45 points, or 1.3 percent, to 10,038.84 after closing below 10,000 for the first time since November yesterday.
“The market is poised to go higher,” said Tom Wirth, senior investment officer at Chemung Canal Trust Co., which manages $1.6 billion in Elmira, New York. “Corporate earnings and economic data points have been strong in our country. What recently led the market lower was the international scenario. As soon as we get relief on that front, we’ll see recovery. The path of at least resistance is going to be higher over the next few months.”
U.S. stocks retreated yesterday amid concern that deteriorating European government finances will derail the economic recovery. The S&P 500 has fallen for four straight weeks, the longest losing streak since July, and is down about 7 percent from a 15-month high on Jan. 19.
EU Discussions
European Union leaders will discuss Greece’s plans to reduce the region’s biggest deficit when they meet Feb. 11, and European Central Bank President Jean-Claude Trichet’s decision to leave a meeting of policy makers in Sydney one day early fanned speculation that officials will agree on aid.
“We are not convinced that January’s poor performance has set the tone for this year and prefer to take our cues from the economic and fundamental backdrops, which have been steadily improving,” wrote Brian Belski, New York-based chief strategist at Oppenheimer & Co., in a report distributed yesterday after markets closed.
More than 300 companies in the S&P 500 have reported fourth-quarter earnings since Jan. 11, and about 77 percent have beaten analysts’ estimates, according to data compiled by Bloomberg.
The economy in the U.S. expanded in the fourth quarter at the fastest pace in six years, the Commerce Department said Jan. 29.
To contact the reporter on this story: Rita Nazareth in New York at rnazareth@bloomberg.net.
Last Updated: February 9, 2010 09:38 EST
GM LH
we have 20 inches possible on the way here in Baltimore...
whats the story with ONCY...still going
got it coming.....so I get another day off...
(fwiw kind of would like to be working today)
GM all
No pinks....big boards only...
in case you guys couldn't sleep lol
working on a research proposal for those interested:
Quantification of mRNA in mice at various time intervals following Stroke episode to determine levels of Cytosolic phospholipase A2 alpha and Cyclooxygenase 2 as relates to the Arachidonic acid pathway of prostaglandins production and post-trauma inflammation
Background
Cytosolic phospholipase A2 alpha (cpla2 a) is an enzyme which generates production of arachidonic acid from phospholipid molecules by liberating the fatty acid from the phospholipid bilayer. Arachidonic acid is a precursor which through oxidative metabolism with the enzyme Cyclooxygenase 2 (COX 2) catalyzes production of the eicosanoids the prostaglandins; inflammation causing lipids.
The fact that cpla2 a is “essential for both the immediate and the delayed phases of eicosanoid generation” as Fujishima et al stated has not been contradicted and shows a direct link between the enzyme level and inflammatory response. The research showed that for both immediate prostaglandin production from arachidonic acid as well as delayed prostaglandin manufacture with activation-dependent induction of prostaglandin endoperoxide synthase 2 cpla2 a was necessary.
were getting 20 inches tomm...
you have mail
yep....but lotta eyes on it...gapper tomm?
still $$$$...nice....should go all week if they have an FDA meeting wednesday
nice grab on the ctic...
No direction.....Oil 72.04
Oil 71.87
djia -10
lurker!
CTIC nice bounce...great trader today...for flipping
good...
been busy at hopkins recently...flipping bits here and there mostly....holding PMI big still..I think she goes this year...
wow...
big snow here fri/sat....day off...I have a research proposal to write though...so just trading the morning
day off?
90's...wow
Oil 71.70
USO 35$
RIG 83.99$
I think oil is too low not to be a topic of discussion...
Oil 71.35
Futures
North/Latin America
INDEX VALUE CHANGE OPEN HIGH LOW TIME
DJIA INDEX 9,955.00 +14.00 9,950.00 9,990.00 9,910.00 09:02
S&P 500 1,062.30 +2.50 1,061.90 1,066.70 1,056.30 09:00
NASDAQ 100 1,747.75 +2.75 1,746.75 1,753.25 1,738.50 08:58
GM all
comedian...
djia -31
DJIA +2
djia -21
GM lang
France Wants Tuna Trade Ban In 18 Months - Source
Last update: 2/3/2010 9:25:58 AM
PARIS (AFP)--France wants a ban on the international trade in bluefin tuna to come into force in 18 months in order to protect the over-fished species, Ecology Minister Jean-Louis Borloo said Wednesday "This is a difficult decision... but a necessary one," he told reporters. The announcement came as the European Union has to decide whether to back calls for the lucrative but over-exploited fish--beloved of Japanese sushi fans--to be officially listed as an endangered species. The French decision will weigh heavily on the final position adopted by the EU.
Greenpeace environmental watchdog said the 18-month delay was "absurd" and akin to "waiting until there are no more bluefin tuna left" before the imposition of an international trade ban. But a French government source said the timeframe was decided on to enable new scientific reports to be drawn up and to put the finishing touches to a plan for tuna fishing vessels aimed at reducing their catch. France has a large bluefin fishing fleet and fishermen have urged the state to resist pressure from green groups when it decides whether to back adding bluefin to a list by CITES (the Convention on International Trade in Endangered Species). The head of France's tuna fishing union, Mourad Kahoul, said Borloo's announcement had left him in a "state of shock" and that he was calling for an immediate meeting with President Nicolas Sarkozy. Environmental groups warn that bluefin tuna face disappearance because of overfishing in the Mediterranean and Atlantic, mainly for lucrative markets in Asia, especially Japan. The Japanese buy more than 80% of the tuna fished in the Mediterranean, so imposing an international trade ban would vastly reduce fishing of the species. The EU needs to come up with a common position on a ban ahead of a meeting of CITES in March in Doha, Qatar. (END) Dow Jones NewswiresFebruary 03, 2010 09:25 ET (14:25 GMT)