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hit and run...
djia turning up here
in FNM...green barely
hey...
as long as you pay the shipping...:)
on FNM
djia -26
have you started ironing my 100$ bill yet?
better get the wife on it maybe...
I just need about .05...
make the djia turn up here...
grabbed FNM at 1.66 for the flip
smokes...and I was adding money to the account today and it hadn't hit til just now
back now...what are we watching?
that's authorized shares...the outstanding shares may be quite different
BBL....I've got to run out for smokes...
I'm liking the usual...FRE C
but thinking about RAD too
what are you watching?
Oil 71.67
Futures
North/Latin America
INDEX VALUE CHANGE OPEN HIGH LOW TIME
DJIA INDEX 9,556.00 +12.00 9,547.00 9,558.00 9,537.00 06:39
S&P 500 1,038.90 +1.50 1,037.00 1,039.60 1,035.00 07:15
NASDAQ 100 1,684.50 +1.75 1,682.25 1,684.75 1,679.50 07:11
Asian Stocks Advance on China Economy Data; Japan Shares Fall
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By Patrick Rial and Shani Raja
Sept. 11 (Bloomberg) -- Asian stocks rose and the MSCI Asia Pacific Index had its biggest weekly advance since July after Chinese economic data beat economist estimates. Japanese shares dropped on a worse-than-expected economic growth report.
Poly Real Estate Group Co., China’s second-largest developer by market value, advanced 3.7 percent in Shanghai after government reports showed industrial production and investment growth accelerated. Cnooc Ltd., China’s third-biggest oil company, rose 2.2 percent in Hong Kong as crude oil rose to the highest in more than a week. Dentsu Inc., Japan’s largest advertising agency, dropped 2.7 percent after the government revised economic growth figures lower and the yen strengthened.
The MSCI Asia Pacific Index added 0.4 percent to 117.59 as of 7:14 p.m. in Tokyo. It advanced 4.2 percent in the past five days, the most since the week ended July 24. The gauge has surged 60 percent in the past six months as economies recovered from the first global recession since World War II.
“There’s a lot of expectation priced in after the recent rally,” said Matt Riordan, who helps manage about $4.1 billion at Paradice Investment Management in Sydney. “Still, the economic data globally and earnings have tended to surprise on the upside.”
China’s Shanghai Composite Index rose 2.2 percent, while Hong Kong’s Hang Seng Index added 0.4 percent as Chinese industrial production climbed 12.3 percent in August from a year earlier. Japan’s Nikkei 225 Stock Average lost 0.7 percent while the Topix dropped 0.8 percent, the only key indexes in Asia to drop. Singapore’s Straits Times Index was little changed.
Oil Forecast
In Tokyo, IHI Corp., a Japanese maker of heavy machinery, gained 2.6 percent after Goldman Sachs Group Inc. said a return to profitability in its energy plant division indicates the shares are poised to rise. Nippon Electric Glass Co. climbed 2 percent after a rival lifted its sales outlook. KB Financial Group Inc. rose to a record in Seoul on a brokerage upgrade.
Futures on the Standard & Poor’s 500 Index added 0.1 percent. Treasuries declined, sending the yield on the 10-year note up by two basis points, before an industry report that economists predict will show U.S. consumer confidence improved for the first time in three months.
The S&P 500 added 1 percent yesterday after the Labor Department reported the number of Americans filing first-time claims for unemployment benefits dropped more than economists had estimated. Treasury Secretary Timothy Geithner also said the government is preparing to withdraw some of its support for financial markets.
China’s Premier Wen Jiabao signaled he will maintain unprecedented government spending because China’s economic rebound “is unstable.” The Shanghai Composite Index has climbed 64 percent this year amid surging loan growth.
Chinese Economy
Poly Real Estate advanced 3.7 percent to 25.85 yuan. Hitachi Construction Machinery Co., which generated the largest portion of its revenue from China last quarter, gained 2.6 percent to 1,996 yen. Gome Electrical Appliances Holdings Ltd., China’s second-biggest electronics retailer by market value, climbed 1.8 percent to HK$2.28 in Hong Kong.
The climb in August industrial production was higher than the 10.8 percent increase the previous month and beat the 11.8 percent estimate of economists surveyed by Bloomberg News. Urban fixed-asset investment for the eight months to Aug. 31 rose 33 percent. Economists in the survey expected 32.7 percent.
“It’s positive news overall,” Liu Hong, Shanghai-based senior portfolio manager at Fortis Haitong Investment Management Co., which oversees about $7.9 billion in assets. “Most of the data is better than expected.”
Oil Demand
China Mobile Ltd., the world’s largest mobile phone operator by subscribers, rose 0.5 percent to HK$80 after the company’s chairman said the company is already working on selling shares on the mainland stock market. The stock earlier climbed as much as 2.3 percent.
Cnooc rose 2.2 percent to HK$11.02, while PetroChina Co., China’s largest oil producer, gained 1.4 percent to HK$9.17. Inpex Corp., Japan’s largest oil explorer, climbed 2.1 percent to 793,000 yen.
The International Energy Agency increased its 2010 estimate for global demand because of stronger sales in North America and China, helping crude oil futures to advance 0.9 percent to the highest settlement since Aug. 28.
The MSCI Asia Pacific climbed for a sixth-straight month in August, the longest stretch of gains since the 10 months ended July 2007. Stocks on the gauge are priced at an average 1.6 times book value, up from 1 at the index’s low in March, according to Bloomberg data.
Volatile Markets
Greater-than-expected profit reports have fueled the rally. Among the 642 companies on the MSCI Asia Pacific Index that reported quarterly net income in the past two months, 35 percent have beaten analyst estimates, while 21 percent have missed.
“The market has been a bit volatile lately, but some of the big money managers are increasingly putting money in, so there’s a firm bottom under it,” said Hiroaki Kuramochi, head of equity sales at Tokai Tokyo Securities Co.
Dentsu fell 2.7 percent to 2,140 yen. Nissan Motor Co., the nation’s third-largest automaker, lost 2.7 percent to 615 yen. Japan’s Cabinet Office reported today that the country’s economy grew at a 2.3 percent annual rate in the second quarter, lower than the 3.7 percent expansion originally estimated.
Stocks also fell as the yen strengthened to as much as 91.24 versus the dollar, the highest since February, depressing the local value of Japanese companies’ overseas sales.
“It has yet to be seen if the global economy will be able to stand on its own legs after the effects of inflated fiscal and monetary supports fade away,” said Hiroshi Morikawa, a senior strategist at MU Investments Co., which manages the equivalent of $14 billion in Tokyo.
Government Support
Haseko Corp., one of Japan’s largest construction companies, tumbled 22 percent to 94 yen, the biggest plunge since 2002, after saying it will issue moving-strike convertible bonds, prompting Credit Suisse Group AG to cut the shares to “neutral” from “outperform.”
IHI rose 2.6 percent to 196 yen. Kunio Sakaida at Goldman Sachs lifted the stock’s target price by 16 percent to 220 yen, as the risk of losses in its energy plant business are diminishing, while the company’s nuclear and natural gas businesses have a strong medium-term outlook.
Nippon Electric Glass, the world’s third-biggest maker of glass for flat-panel televisions, jumped 2 percent to 956 yen. Rival Asahi Glass Co. added 2.1 percent to 780 yen.
Corning Inc., the world’s biggest maker of glass for liquid-crystal display panels, said yesterday fourth-quarter orders probably will be stronger than forecast as sales of flat- screen television pick up in the U.S. and Japan.
KB Financial added 4.1 percent to 58,800 won. The owner of South Korea’s biggest bank was lifted to “outperform” from “neutral” by Macquarie Group Ltd.
To contact the reporter for this story: Patrick Rial in Tokyo at prial@bloomberg.net; Shani Raja in Sydney at sraja4@bloomberg.net.
Last Updated: September 11, 2009 06:15
GM all
Fed Says Economy Stable or Improving in Most of U.S. (Update2)
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By Scott Lanman
Sept. 9 (Bloomberg) -- The Federal Reserve said 11 of its 12 regional banks reported signs of a stable or improving economy in July and August, adding anecdotal evidence that the worst U.S. recession in seven decades is over.
Five districts, including San Francisco, home to the biggest regional economy, “mentioned signs of improvement,” the Fed said today in its Beige Book business survey, published two weeks before officials meet to set monetary policy. The exception was the St. Louis district, which said the contraction’s pace “appeared to be moderating.”
The central bank survey indicates that while the worst of the downturn may be past, the economy has yet to show broader growth. The Fed reported “flat” retail sales and “weak” labor markets, and cited some auto-industry contacts as saying the sales increases from government “cash-for-clunkers” subsidies may be temporary.
“We are slowly on the road to recovery,” former Fed Governor Robert Heller said in an interview with Bloomberg Television. The Beige Book “confirms that we have turned the corner,” he said.
The Standard & Poor’s 500 Index increased 0.5 percent to 1,030.20 at 2:40 p.m. in New York after rising as much as 1.1 percent.
The outlook among many business contacts was “cautiously positive,” the Fed said. “Loan demand was described as weak, and many districts reported that credit standards remained tight.”
Phase Out
The Fed report reflects information collected through Aug. 31 and summarized by staffers at the Atlanta Fed. The Federal Open Market Committee next meets in Washington Sept. 22-23. At their prior meeting in August, officials decided to phase out their $300 billion Treasuries-purchase program through the end of October, extending buying by one month, and considered a similar move for the $1.45 trillion program to buy housing debt.
The Fed lowered its main interest rate almost to zero in December while switching to asset purchases and credit programs as its main policy tools. Investors expect the central bank to begin raising rates next year, according to trading in futures contracts.
Gross domestic product shrank at a 1 percent annual rate from April to June, following a 6.4 percent pace of contraction in the first three months of the year.
Chicago Fed President Charles Evans said in remarks in New York today that the economic recovery is “beginning to start” and he expects growth of 2.5 percent to 3 percent over the next 18 months. At the same time, the jobless rate will rise, peaking at a “little over 10 percent” and staying “high for an uncomfortable period of time.”
Low Levels
A chief exception to the Beige Book’s reports of stabilization was the market for commercial real estate. Demand for space “remained weak,” and construction, already at “very low levels,” kept declining in all districts, the Fed said.
Fed officials expressed concern about the commercial property market at last month’s policy meeting. “Several participants noted that banks still faced a sizable risk of additional credit losses and that many small and medium-sized banks were vulnerable to deteriorating performance of commercial real estate loans,” minutes of the session said.
The residential housing market, by contrast, “remained weak” while showing “signs of improvement,” including higher sales in some areas, the Fed said. Pending sales of existing homes rose more than forecast in July, according to a report last week.
‘Cautiously Optimistic’
Manufacturing showed “modest improvements” in most regions, the Fed said today. Companies were “cautiously optimistic,” with New York among three districts reporting that contacts “expect modest growth later this year or early 2010.”
A recent report showed that in August, manufacturing expanded in the U.S. for the first time in 19 months.
Capacity utilization, the proportion of factory volume in use, remains near its historic low. It rose in July to 68.5 percent from 68.1 percent in June, its lowest level since record-keeping began in 1967.
The labor market “remained weak across all districts,” while some regions reported an “uptick in temporary hiring and a decline in the pace of layoffs,” the Fed said.
That reflects last week’s Labor Department report that employers cut payrolls by 216,000 in August, after a 276,000 drop in July. The jobless rate, at 9.7 percent, is the highest since June 1983, when it registered 10.1 percent. The so-called underemployment rate -- which includes part-time workers who’d prefer a full-time position and people who want work but have given up looking -- reached a record 16.8 percent.
To contact the reporter on this story: Scott Lanman in Washington at slanman@bloomberg.net.
Last Updated: September 9, 2009 14:45 EDT
that's why commodities will continue during his presidency...
usually my best % gains are when I walk away for a few minutes
taking a day off
GL to you early
congrats....
let's hope for 5 more...
Out FRE 1.92
Out FNM 1.71
Out FRE 1.92
Out FNM 1.71
later all
off to school
yep...
I'll catch you later
GL today
still...I like the %'s on eslr if it could get back to where we used to trade it...
congrats on the solars yest...always nice
stuck in FRE/FNM and off to school in 30 min...they are stuck ina rut and may need the djia to pop to break it..
my watchlist mostly green...keep thinking someday eslr will run again...but continues to just sit there...
gold watchlist green too....saw commodities ran in asia...
SEED???.....lol
so you liking solars right now BB?
stuck in FRE FNM at the moment.. 1.88/1.675
Oil 71.56
djia +31
djia +13
C 4.60...wow