By Ellis Mnyandu NEW YORK (Reuters) - U.S. stocks rallied on Monday as investors snapped up shares of financial companies and big manufacturers on hopes that the Federal Reserve would keep slashing interest rates to forestall an economic downturn. Fed policy-makers are due to announce a rate decision on Wednesday at the end of their two-day meeting, and investors are counting on lowered borrowing costs for businesses and consumers to stimulate economic activity. Shares of General Electric Co, seen as a proxy for the economy because of its diversified businesses, rose as did interest-rate sensitive companies, such as credit card provider American Express Co and Bank of America Corp. Shares of home builders were also among the standouts, with the Dow Jones home construction index up 3.73 percent. Government data showing a bigger-than-expected drop in new-home sales last month strengthened the argument for Fed rate cut, analysts said. Lower rates could ease the strain on mortg
By Ellis Mnyandu NEW YORK (Reuters) - U.S. stocks surged on Monday as investors snapped up shares of manufacturers and downtrodden banks after more weak housing data bolstered expectations the Federal Reserve will slash rates this week. A sharp drop in December new-home sales cemented the view that Fed policy makers, following last week's emergency rate cut, will make another deep cut in interest rates on Wednesday after the conclusion of a two-day meeting. All three major stock indexes gained more than 1 percent. While the housing data in itself was unsettling, the prospect of lower interest rates coupled with a proposed $150 billion economic stimulus package helped lift shares of manufacturers like General Electric Co and home builders like Hovnanian Enterprises. The S&P financials index rose 2 percent, with index gainers outnumbering decliners by 6 to 1. It was the latest indication that investors are scouring the sector for bargains after months of relentless selling st
TOKYO (Reuters) - Japanese stocks rose more than 2 percent on Tuesday, led by high-tech exporters such as Advantest Corp, after Wall Street rose on hopes for another U.S. interest rate cut. As of 0009 GMT, the benchmark Nikkei average was up 2.2 percent or 289.42 points at 13,377.33, after closing Monday down 4 percent. The broader TOPIX index added 2.7 percent to 1,327.87.
It is to early in the campaign for me to get to excited about the 2008 US Presidential election, but it is interesting how the worlds media seems to be wetting itself over Barack Obama, which in itself should be a bit of a wake up call for all progressives. In my opinion Obama lacks political gravitas and seems to me to be in the mould of the European clean skin politicians that have emerged in the last decade, such as Angela Merkel, Tony Blair and David Cameron, Obama’s language is also very similar, slick but meaningless politically. I noticed he has refused to come out in favor of universal health care free at the point of need. If one takes into account that for many US families, health care costs is one if not the most pressing problem they face, then his stance is cowardly to say the least, the more so when one takes into account that the private health care industry is the most powerful political lobby in the USA.I also noticed that when US members of the Republican Party bas
In a previous post I referred to Wall Street “perkies,” my name for those in the financial world who diligently and unceasingly attempt to make bad economic news appear to be good.
Here’s how a perkie views things.
“We’ve received word from the captain that our ship, the Titanic, has hit an iceberg. However there’s is [...]
By John Poirier NEW YORK (Reuters) - The economy might be edging toward a recession in the wake of mortgage-related credit woes plaguing the financial markets, bankers and analysts said on Monday. "I think that the risk of a recession is greater than people realize," James Dunne, chief executive of Sandler O'Neil & Partners, said at the Reuters Finance Summit in New York. With home prices dropping, more people about to lose their homes due to unaffordable mortgages and sharply higher oil prices, the economy could be on the brink of slowing down, they said. "I think there is a serious risk to the economy," Howard Lutnick, CEO of Cantor Fitzgerald, told the summit. Charles Peabody, partner at New York-based research firm Portales Partners LLC, said the Fed may have to take more aggressive action and drop the benchmark fed funds rate in an effort to prevent a Japanese-style economic stagnation, which eventually evolved into a deflationary recession.
Joost vince per la categoria WSJ Media/Broadcasting ottenendo il Bronzo.La motivazione sintetizzata : **Joost NV Lussemburgo, per il suo servizio gratuito di distrubuzione programmi Tv su internet. A differenza di YouTube ed altri siti video, Joost offre programmi completi e full-screen. Come Kazaa, Joost usa tecnologia peer-to-peer per download più veloci, ma differentemente da Kazaa, che incoraggiava la pirateria, Joost ha percorso la via della legalità siglando accordi con la major.**
Duff & Phelps Corporation (NYSE:DUF) priced its initial public offering of 8,300,000 shares of...
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Wallst.net is a social networking stock site that allows people to get together, research stocks, and otherwise get good business information about what is happening on Wall Street today. It is an interesting niche site. They bill themselves as a “financial social network for those interested in investing. Learn about investing, trade ideas with [...]
Of the thousands of Chinese children adopted by American families each year, a small number are adopted by expats living in China. These children maintain their Chinese identity while developing an American one.Columnist Alan Paul of the Wall Street Journal...
Dado que recientemente he tocado el tema de la “política exterior de Zapatero”, y que todavía estoy perfilando el post del método para ahorrarse una buena cantidad de dinero en la compra de la vivienda, no he podido resistir la tentación de poner hoy este genial artículo publicado por el Wall Stree Journal, en el que se muestra la imagen que nuestro talantoso presidente proyecta en el exterior. Como se puede ver está en ingles, por lo que recuerdo a los que no sean doctos en la lengua de Shakespeare la posibilidad de usar el traductor haciendo click en la banderita de arriba. Here's a European political pop quiz: What do Poland's Kaczynski twins and Spain's José Luis Rodríguez Zapatero have in common? Discuss. Ideologically, the men hail from different planets. Just for starters, the Polish duo wants to limit gay rights; Prime Minister Zapatero expands them with gusto. But on the global stage, these national leaders stand together, having both marginalized, needlessl
The background info about The Fearless Frog is here.
The more recent background info about TFF’s patented Alphabetic Inversion and Chart Reversal Strategy is here.
Two weeks ago I said that I could convince you that I am a stock-picking genius. The proof is right up there at the top of this post, and it’s completely true.
Today Citigroup downgraded MT, [...]
US stocks were set for a sharply lower start on Friday, as the labour market contracted for the first time in four years, led by sharp declines in construction and manufacturing payrolls.
With money market rates still at elevated levels as banks endure a credit squeeze, the news that payrolls contracted by 4,000 in August - [...]
Joseph Mantone of the Wall Street Journal Health Blog interviewed Mark Chassin, M.D., a professor of health policy at the Mount Sinai School of Medicine in New York, and the incoming President of the Joint Commission. Mr. Mantone asks: Why...
Well not as an article, but as a related articles and blogs. When I was viewing my Google Analytics this morning, I usually look at it on a weekly basis. I found a high amount of traffic for 2 days! Most came from online.wsj.com, when visited it was the Wall Street Journal! I was very surprise to see this and I was happy at the same time that I appeared on the WSJ.
Below is the screen shot I captured at the bottom of the article about Business.com being sold. I came up as a related Blog Post about this topic and I came up right before TechCrunch! This flow of traffic was beautiful I can say as it provided me with lots of traffic for 2 days.
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For those of you not into value investing to create long term positions, I know this will totally go against everything you have ever heard of, but stay with me on this.
At the end of last week, the stock market took a beating. Stock prices fell almost across the board.
I’m happy. Only way I could be happier is if the prices fell further.
No, I’m not ready to get a bunk at the loony bin. It’s simple. The market was due to a correction. Basically a correction means that the market was either under, or, as in this case, over priced and needed to be fixed. Too many people buying a driving stock prices up creates an artificial price relative to the company’s actual value. No matter how long it takes, there always is a correction.
Now, why is the stock market taking a beating a good thing? Easy. Stock prices are lower and you can get better deals on your favorite stock. Think of it as a sale for stocks.
Let me give you an example, and I’ll u
SINGAPORE - Singapore share prices closed 2.4 percent lower on Friday, falling sharply in line with other regional bourses after one of Wall Street's worst sell-offs overnight, dealers said.The Straits Times Index was down 87.03 points at 3,492.70, its lowest finish since June 8.Overall volume was 4.11 billion shares worth S$4.11 billion, with losers leading gainers 933 to 139 and 491 stocks remaining unchanged.US shares plunged Thursday by more than 300 points, with investors gripped by anxiety over the housing market.Those losses, coupled with lacklustre local corporate results from DBS Group Holdings and Chartered Semiconductor, prompted investors to dump shares, dealers said. CIMB-GK Research said a technical analysis of global equity markets showed signs of an impending major correction. "Stock markets in Europe and the US have started to correct and weekly indicators have turned negative," CIMB-GK said in a research note. "Asia (excluding Japan) still looks strong, but may not b
From the Wall Street Journal, no less. (Their investigative reporting remains excellent even as neanderthals lumber across their editorial page. Lest we forget, it was WSJ that broke the Enron story. Two of their reporters went digging and said, whoa, these numbers do not add up.)
Twelve years ago, Lehman Brothers Holdings sent a VP to look into making loans to First Alliance Mortgage Co. The VP reported back that First Alliance was a” financial ’sweat shop’ specializing in ‘high pressure sales for people who are in a weak state.’ At First Alliance, he said, employees leave their ‘ethics at the door.’ ”
Lehman apparently left their ethics out the door too, as they loaned First Alliance $500 million, then sold $700 million in bonds backed by the loans. The company cratered and a federal jury found that Lehman “helped First Alliance defraud customers.”
So why would investment banks knowingly back such risky loans? “Because
http://blogs.wsj.com/washwire/2007/07/03/more-to-come-on-paris-hilton/
Mary Lu Carnevale reports on reaction to Bush’s clemency for Paris Hilton.
Some conservatives were frustrated with President Bush’s decision to grant “Simple Life” Hilton something less than a full pardon for his felony convictions of perjury and obstruction of justice.
Robert Novak, the columnist who triggered the leak inquiry by reporting that CIA operative Valerie Plame [...]
Wall Street investment banks encouraged lending to those with little ability to pay, then created hedge funds (also using borrowed money) that bought and sold bizarre and risky packages of those very same mortgages. Thus, the subprime mess is very much their own creation.
When that Bear Stearns fund blew up recently, the company was forced to prop it up with billions of dollars in secured loans. They did this because the other investment banks, who have similar shaky portfolios, didn’t want Bear Strearns liquidating because this would set new, sharply lower market prices for the garbage mortgages in their portfolios. If Bear Stearns had liquidated, they’d be out of the club, and other investment banks would no longer deal with them. So, these august titans of Wall Street are really just pretending their mortgage portfolios are solid when it’s obvious more carnage is coming. They will probably come begging to DC soon for bailouts too.
No doubt that many subprime borr
According to Dealbreaker.com, Michael Moore was scheduled to have an interview on CNBC today. However, someone banned him from coming on the show.
I think this is justified because his new movie “Sicko” takes on the healthcare industry. Many of the businesses involved in the health care industry are not at all happy with his documentary and they way he spins his movie to promote an agenda.
I think Michael Moore forgot to mention in his movie how many foreigners come to the states each year because we have one of the best health care industries in the world.
I also think he has a beef with the healthcare industry because he’s fat, and he doesn’t know how to take personal responsibility and eat well and exercise. In fact, no health care system can “force” you to be healthy. It’s a personal choice each individual must make themselves.
**Dealbreaker.com just updated their site saying that Moore may now be unbanned…
More hedge funds are expected to blow up in the coming months too. They’ve already lost billions. Well, that’s what they get for being greedheads. They should have remembered their own Wall Street adage, “bulls make money, bears make money, but pigs get slaughtered.”
Odd, wasn’t it just a few months ago those firms (and the Fed) were saying everything was just peachy with subprime, with no problems expected?
So, do they just lie for the sake of lying or are they genuinely and seriously deluded? As for the hundreds of thousands (maybe millions by now) of those who have lost or are losing homes due to fraudulent or usurious mortgages, Wall Street is, of course, silent.
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