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~Starting to accumulate $INOH .0009 to .0011 area for bounce and rumored News.
~Starting to accumulate $INOH .0009 to .0011 area for bounce and rumored News.
Old Farmer’s Almanac predicts ‘super-cold’ winter in East
CONCORD, N.H. — The Old Farmer’s Almanac, the familiar, 223-year-old chronicler of climate, folksy advice and fun facts, is predicting a colder winter and warmer summer for much of the nation.
Published Wednesday, the New Hampshire-based almanac predicts a “super-cold” winter in the eastern two-thirds of the country. The West will remain a little bit warmer than normal.
“Colder is just almost too familiar a term,” editor Janice Stillman said. “Think of it as a refriger-nation.”
More bad news for those who can’t stand snow: Most of the Northeast is expected to get more snowfall than normal, though it will be below normal in New England.
Before unpacking the parka, however, remember that “colder than average” is still only about 2 to 5 degrees difference.
Some other regional highlights:
• Florida’s winter could be rainier than most years while other locales in the Southeast and central states will see less rain.
• Summer will be warmer than usual in most places while a drop in rainfall in the country’s midsection could hurt crop yields.
• Despite some winter downpours in the West, the almanac says, California’s drought will likely continue.
• Hurricane season isn’t expected to be especially active though a major storm could hit the Gulf Coast in late August.
For loyal readers of an almanac that also tracks to the minute every sunrise and sunset for the year, the timing of this year’s publication may come as a surprise. Normally, it hits the stands in mid-September. In recent years, its younger cousin, the Maine-based Farmer’s Almanac, has published in August and a competition of sorts has emerged, though Stillman said it had nothing to do with the earlier drop date.
“We’ve found that folks want the almanac as soon as the issue is done up, right as the growing season is done,” she said. “It’s also time to order oil, wood, salt for roads. We’ve had so many inquiries we just decided to get it into people’s hands earlier.”
The almanac, which has about an 80 percent success rate in its forecasts, employs modern technology but still uses the “secret formula” that founder Robert Thomas devised in 1792. By combining the study of sunspots, prevailing weather patterns and basic meteorology, the almanac’s weather staff comes up with a long-range forecast. The temperature deviations are based on 30-year averages compiled by government forecasters. http://www.pressherald.com/2014/08/20/old-farmers-almanac-predicts-super-cold-winter/
Existing-home sales rise 2.4% in July
WASHINGTON (MarketWatch) -- Sales of existing homes rose 2.4% in July to a seasonally adjusted annual rate of 5.15 million, the fastest pace this year, the National Association of Realtors reported Thursday. Economists polled by MarketWatch had expected the sales rate to decline to 5 million in July from an originally reported 5.04 million in June. On Thursday NAR tweaked June's sales rate to 5.03 million. July's sales pace was down 4.3% from a year earlier. The median sales price of used homes hit $222,900 in July, up 4.9% from the year-earlier period. July's inventory was 2.37 million existing homes for sale, a 5.5-month supply at the current sales pace. The number of homes available for sale was up 5.8% from the year-earlier period.
U.S. manufacturing PMI reaches highest level since April 2010
WASHINGTON (MarketWatch) -- The flash Markit manufacturing purchasing managers index jumped to a reading of 58 in August from 55.8 in July to reach the highest level since April 2010. Any reading above 50 indicates expansion. Output and new order components accelerated, and employment rose to the highest level since March 2013. The flash estimate is typically based on approximately 85%-90% of total PMI survey responses each month.
Gold extends losing streak on strong dollar
LOS ANGELES (MarketWatch) — Gold prices remained under pressure on Thursday after hawkish minutes from the latest Federal Reserve Policy meeting showed that the central bankers were surprised at the speed of the jobs recovery.
At last check, gold for December delivery GCZ4, -1.51% was down another $15, or 1.1%, to $1,280.20 an ounce. September silver SIU4, -0.88% lost 17 cents, or 0.9%, to $19.34 an ounce.
A day earlier, gold prices pushed below the $1,300 level as traders positioned themselves ahead of the Fed minutes and as the S&P inched closer to another record high.
Today’s slate of data is more than just an appetizer leading up to Janet Yellen’s speech on Friday. The first to hit will be the initial weekly unemployment claims report followed by existing home sales and the Philly Fed manufacturing survey at 10:00 a.m. Eastern. http://www.marketwatch.com/story/gold-slips-ahead-of-housing-data-yellen-2014-08-21
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http://www.cnbc.com/id/101936505
U.S. stocks: Futures up after claims; S&P eyes record
NEW YORK (MarketWatch) — U.S. stock futures moved north Thursday, though they trimmed their gains slightly following a report on weekly jobless claims that roughly matched expectations.
Neither downbeat Chinese data nor a perceived hawkish set of Federal Reserve minutes deterred upbeat sentiment. Friday’s speech from Janet Yellen remains a market focus, and the S&P 500 is within spitting distance of setting a fresh record close.
Futures for the S&P 500 SPU4, +0.16% added 3 points, or 0.2%, to 1,986.30, while those for the Dow Jones Industrial Average DJU4, +0.25% rose 34 points, or 0.2%, to 16,984. Futures for the Nasdaq 100 NDU4, +0.14% rose 4 points, or 0.1%, to 4,043.50.
Initial jobless claims fell by 14,000 to 298,000 last week, basically in line with the 300,000 claims expected by economists surveyed by MarketWatch.
Three other economic reports are due at 10 a.m. Eastern, the most closely watched of which may be existing-home sales for July, which economists expect to hold steady. Also out at that time: the Philadelphia Fed manufacturing survey for August and leading indicators for July.
With time to mull it over, investors appeared to further shrug off the Fed minutes released Wednesday that showed some officials arguing the groundwork should be laid for raising interest rates sooner than expected. A Thursday report showing a three-month low for Chinese factory data was also brushed aside. http://www.marketwatch.com/story/us-stocks-futures-up-as-fed-china-given-the-brush-off-2014-08-21?dist=beforebell
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http://www.cnbc.com/id/101934844
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S&P 500 tries for record close, recovers from post-Fed dip
NEW YORK (MarketWatch) — U.S. stocks stepped higher on Wednesday afternoon, shaking off a dip that came after Federal Reserve minutes indicated that policy makers talked at their last meeting about hiking interest rates sooner than anticipated.
The S&P 500 SPX, +0.25% rose by 6 points, or 0.3%, to 1,987. The benchmark turned negative shortly after the minutes came out at 2 p.m. Eastern, but it has bounced back and briefly traded above its July 24 record close of 1,987.98.
The Dow Jones Industrial Average DJIA, +0.35% tacked on 67 points, or 0.4%, to 16,987, while the Nadaq Composite COMP, -0.02% gained 3 points, or 0.1%, to 4,531.
Fed officials debated at their July meeting whether to move faster than expected to start raising interest rates in light of an improving job market and rising inflation, said a Wall Street Journal report on the minutes. But the officials decided they needed more evidence before concluding that was the right approach. Read more: Fed more divided on U.S. labor market gains
“The center of gravity is moving gradually to the hawkish side,” said Jerry Webman chief economist at OppenheimerFunds. The stock market “likes accommodation,” so it gave up a little ground after the minutes, he told MarketWatch. But there wasn’t a more extreme negative reaction because the minutes don’t give a reason to get pessimistic about corporate earnings, which are the market’s main driver, he added.
The minutes didn’t contain “anything shocking,” and there wasn’t a big drop by stocks, so the market resumed its two-week uptrend, said Joe Bell, senior equity analyst for Schaeffer’s Investment Research.
While investors are reading the minutes for clues about the Fed’s strategy, markets may also quickly move past them to focus on Fed Chairwoman Janet Yellen’s speech at 10 a.m. Eastern Friday in Jackson Hole, Wyo. http://www.marketwatch.com/story/us-markets-futures-dip-ahead-of-fed-minutes-2014-08-20
Spot gold slides after Fed; futures log slight loss
Spot gold prices extended earlier losses on Wednesday after the minutes from the Federal Reserve's latest policy meeting showed the central bank was surprised by how quickly the U.S. labor market is healing. http://www.cnbc.com/id/101929054
Sales of existing homes seen holding steady in July
The sales pace of previously owned homes likely held steady last month, staying close to the fastest pace since late 2013, according a consensus forecast.
Economists polled by MarketWatch expect the annual sales rate for existing home ticked down to 5 million last month from 5.04 million in June, which was the fastest pace since October. If data show that sales declined in July, that would be the first decrease in four months.
Economists expect total deals this year to wind up below 2013’s tally, pulled down by a weak first half of the year. A July pace of 5 million would mean the sales rate was down 7% from the year-earlier period.
An unusually harsh winter, escalating mortgage rates and prices, limited inventory and tight credit standards have all contributed to holding back home sales. Households are also increasingly interested in renting than owning.
The National Association of Realtors will release the home-sales data at 10 a.m. Eastern.
Earlier Thursday, the government will release its most recent report on unemployment benefits, and economists expect that initial claims for jobless benefits declined to 300,000 in the week that ended Aug. 16 from 311,000 in the prior week.
Claims readings are trending near pre-recession levels, signaling a slow pace of layoffs – a good sign for workers and the greater employment environment. The U.S. Labor Department will release the claims report at 8:30 a.m. Eastern. http://blogs.marketwatch.com/capitolreport/2014/08/20/sales-of-existing-homes-seen-holding-steady-in-july/
nice huge dump at .0004 sad..
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http://www.cnbc.com/id/101933059
The ‘short of the decade’ and one willful bull’s call for Dow 19,000
The Nasdaq’s rally to March 2000 levels and Google’s 10-year IPO birthday have cast a nostalgic light on markets so far this week. And the way things are going these days (up, a lot) nostalgia seems to be suiting traders just fine.
The S&P, after a rough stretch, is now within a whisper of another record; Apple has entered uncharted territory; and Fed Chair Janet Yellen is about to unleash the doves on a receptive Teton audience at the end of the week.
If that last one disappoints and the hawks come out instead, markets could be in store for a stiff pullback. But even that could be Yellen’s gift to traders. http://blogs.marketwatch.com/need-to-know/2014/08/20/the-short-of-the-decade-and-one-willful-bulls-call-for-dow-19000/
U.S. stocks: Futures dip ahead of Fed minutes, Apple up
MADRID (MarketWatch) — U.S. stock futures pushed south on Wednesday amid some concerns the rally could be running out of some steam, though no big action was expected ahead of the minutes of the latest Federal Open Market Committee meeting.
Shares of Apple Inc. were slightly higher in premarket after setting a closing record on Tuesday, while Lowe’s Cos. fell on results.
Futures for the Dow Jones Industrial Average DJU4, -0.12% fell 18 points to 16,863, while those for the S&P 500 index SPU4, -0.04% eased 2.6 points to 1,974.60. Futures for the Nasdaq-100 index NDU4, -0.06% fell 2.75 points to 4,031.50.
No economic events are on Wednesday’s calendar beyond the minutes of the July 29-30 FOMC meeting. Some of the language in the July policy statement was more hawkish, with the Fed dropping language describing the jobless rate as “elevated,” instead noting “a range of labor market indicators suggests that there remains significant under-utilization of labor resources.”
“The question which everyone will be asking is if the Fed are ready to increase the interest rate sooner rather than later. Some hawkish members have certainly started beating the drums of an early increase,” said Naeem Aslam, chief market analyst at Ava Trade. http://www.marketwatch.com/story/us-markets-futures-dip-ahead-of-fed-minutes-2014-08-20
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S&P 500 jumps back near record; Apple at new high
NEW YORK (MarketWatch) — U.S. stocks climbed Tuesday after a better-than-expected jump in July housing starts and upbeat earnings reports. http://www.marketwatch.com/story/us-stocks-futures-up-with-cpi-housing-starts-ahead-2014-08-19?link=MW_latest_news
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Gold loses ground as stocks gain
SAN FRANCISCO (MarketWatch) — Gold prices retreated again Tuesday as investors pushed the Nasdaq Composite to 14-year highs ahead of Fed Chairwoman Janet Yellen’s speech at the end of the week.
Gold for December delivery GCZ4, -0.25% fell $2.60 to settle at $1,296.70 an ounce. September silver SIU4, -1.25% shed 20 cents to $19.41 an ounce. http://www.marketwatch.com/story/gold-stays-glued-to-1300-level-2014-08-19
Stocks gain after strong housing data; Apple tops $100
SAN FRANCISCO (MarketWatch) — U.S. stocks advanced Tuesday after a better-than-expected jump in July housing starts and upbeat earnings reports.
Home Depot Inc. HD, +6.12% was the biggest gainer in the Dow Jones Industrial Average after the retailer’s quarterly results topped forecasts, and Apple Inc. AAPL, +1.04% moved up to levels last seen in September 2012.
The S&P 500 SPX, +0.39% climbed 7 points, or 0.4%, to 1,979, while the Dow industrials DJIA, +0.39% rose 67 points, or 0.4%, to 16,906. The S&P 500 is nearing its July 24 record close of 1,987.98.
The Nasdaq Composite COMP, +0.24% advanced 9 points, or 0.2%, to 4,517 after the tech-laden index on Monday scored its highest close since March 31, 2000.
The Commerce Department on Tuesday said construction on U.S. new homes rose 15.7% in July to an annual rate of 1.09 million versus 973,000 in June. Economists surveyed by MarketWatch had penciled in July starts of 975,000. The decline in new construction in June also was revised to a much smaller drop.
“I think investors will be encouraged to an extent by the revisions in the data,” said Andrew Wilkinson, chief market analyst at Interactive Brokers. He also said geopolitical concerns seem to be receding, even though there’s no resolution in the Ukraine-Russia conflict, and that “just gives added impetus to the bulls.”
In other economic news, the Labor Department said U.S. consumer prices rose 0.1% in July, matching forecasts. http://www.marketwatch.com/story/us-stocks-futures-up-with-cpi-housing-starts-ahead-2014-08-19
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http://www.cnbc.com/id/101929673
Gold ticks up on fund inflows, safe-haven demand
Gold snapped a two-day losing streak on Tuesday as geopolitical tensions and fund inflows boosted the safe-haven metal, but gains were kept in check by strength in equities and the dollar.
Equity markets rose after Russian Foreign Minister Sergei Lavrov said all issues around a humanitarian convoy sent by Moscow to relieve needy areas of eastern Ukraine had been resolved. Moscow said it would like a ceasefire to allow aid to get to people trapped by the fighting.
However, tensions remain high, with Ukraine saying that dozens of people, including women and children, were killed as they fled fighting in eastern Ukraine on Monday when their convoy of buses was hit by rocket fire. http://www.cnbc.com/id/101926203
Nasdaq revisits March 2000 peak, and it’s the saddest party ever http://blogs.marketwatch.com/need-to-know/2014/08/19/nasdaq-revisits-march-2000-peak-and-its-the-saddest-party-ever/
U.S. stocks: Futures up with CPI, housing starts ahead
MADRID (MarketWatch) — U.S. stock futures pushed higher early Tuesday, as investors waited to see if Wall Street will build on a strong close, and looked ahead to data that is expected to show slowing inflation and faster home building.
Home Depot Inc. was among the companies reporting early. http://www.marketwatch.com/story/us-stocks-futures-up-with-cpi-housing-starts-ahead-2014-08-19
Home Depot, Dick’s Sporting Goods, Medtronic report earnings Tuesday http://huntforthenext10bagger.com/stockearnings
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http://www.cnbc.com/id/101928063
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in/added starter