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bola_no1 ( Date: 06-Jul-2010 23:38) Posted:
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Dow breaks 7-session losing streak
NEW YORK (CNNMoney.com) -- The Dow ended higher Tuesday, finishing a volatile session with gains and breaking its seven-session losing streak as investors scooped up certain shares hit in the recent bloodletting.
The Dow Jones industrial average (INDU) added 57 points or 0.6% after having been up as much as 171 points earlier and briefly dipping into negative territory.
The Dow ended Friday's session at an 8-month low, closing lower for seven straight sessions, its worst streak since October 2008. The gains Tuesday broke that streak.
The Nasdaq (COMP) composite gained 2 points or 0.1%, after having risen as much as 44 points in the morning before dipping. Like the Dow, the Nasdaq ended Friday at an 8-month low.
The S&P 500 (SPX) added 5 points or 0.4%. The S&P 500 ended Friday's session at its lowest point in 9 months.
Stocks rallied through the early afternoon, slipped in the mid-afternoon, and seesawed erratically in the last hour of trading.
Selling in retail, transportation and select technology stocks was countered by strength in financial and energy shares.
"I didn't see anything driving the rally this morning other than it's a Tuesday after a holiday, so I wasn't surprised to see it fizzle," said Joseph Saluzzi, co-head of equity trading at Themis Trading.
"This is how the market is going to be for a while, particularly this week when some people are on vacation and there isn't a lot of economic news," he said. "The good thing is we could end up higher in the next few days because it's so volatile."
Concerns about the health of the U.S. economy and what hits it might take from the European debt crisis have dragged on stocks in recent months. On Friday, the major indexes closed at multi-month lows as investors pulled back ahead of a long holiday weekend. All U.S. financial markets were closed Monday in celebration of Independence Day.
Initially, investors followed European markets higher, but stocks ended up losing momentum as the day wore on.
Since peaking in late April, the Dow is down just under 14%, the S&P 500 is off 16% and the Nasdaq is off 17%.
"In the last two months and especially the last two weeks, everyone was focused on the negatives," said Bernard McGinn, CEO at McGinn Investment Management. "But longer term, I'm more optimistic. Companies aren't hiring yet, but other economic conditions continue to improve, just at a slow pace."
Retail stocks: Citigroup cut its targets on a number of retailers for the 2010 to 2012 period, citing a "hangover" for consumer spending in the second half and beyond after the first-quarter binge.
Citi cut its earnings per share forecasts and 12-month price targets on Home Depot (HD, Fortune 500), JC Penney (JCP, Fortune 500), Lowe's Companies (LOW, Fortune 500), Nordstrom (JWN, Fortune 500), Kohl's (KSS, Fortune 500), Macy's (M, Fortune 500), Saks (SKS), Target (TGT, Fortune 500) and Wal-Mart Stores (WMT, Fortune 500).
World markets: European markets surged across the board, with Britain's FTSE 100 gaining 2.9%, Germany's DAX advancing 2.2% and France's CAC 40 rising 2.7%.
Asian markets rallied as well, with Japan's Nikkei gaining 0.8%, Hong Kong's Hang Seng up 1.2% and the Shanghai Composite rising 1.9%.
Commodities: U.S. light crude oil for August delivery settled down 11 cents to $71.98 a barrel on the New York Mercantile Exchange, giving up earlier gains.
COMEX gold for August delivery ended down $13.20 to $1,195.10 an ounce.
Bonds: Treasury prices rose, lowering the yield on the 10-year note to 2.93% from 2.98% late Friday. Debt prices and yields move in opposite directions. Treasury markets were closed Monday.
BP: Shares of BP (BP), the beleaguered oil company, rallied 6% after a report said Libya's sovereign wealth fund might invest in the company and the company announced that it would not issue new shares to cover costs associated with the oil spill.
Both Saluzzi and McGinn said that the fallout from the oil spill was also continuing to drag on the markets as investors worried about the depth of the damage to the economy.
Market breadth: Market breadth was negative. On the New York Stock Exchange, losers beat winners by a narrow margin on volume of 1.32 billion shares. On the Nasdaq, decliners beat advancers two to one on volume of 2.19 billion shares.
Economy: The Institute for Supply Management's index on the services sector of the economy was released after the start of trading. The index fell to 53.8 in June from 55.4 in May. Economists surveyed by Briefing.com expected it to fall to 55. A reading above 50 signals expansion in the sector.
The Dow opened with an initially huge rally of +170 pts,
but ended with only a wimpy gain of 57 pts at the close.
Looking at the Dow's chart,
it obviously appears to be still in a down-trending mode...
Thus, there's still no sign of a bull market yet, if any...
Yes! Tml hoseh!
Dow gains 100 points
NEW YORK (CNNMoney.com) -- Stocks opened higher Tuesday as investors returning from the holiday weekend eyed buying opportunities and a rally in overseas markets.
Dow Jones industrial average (INDU) was up 108 points, or 1.1%, shortly after the opening bell. The S&P 500 (SPX) rose 12 points, or 1.2%, and the Nasdaq (COMP) composite gained 34 points or, 1.6%.
Economic woes have pummeled stocks in recent months. But with the S&P 500 and Nasdaq nearly 20% off their recent highs, investors appear ready to wade back into the market.
Tuesday is the start of a holiday-shortened week since U.S. financial markets were closed Monday in celebration of Independence Day.
"We're seeing a rally off the strength in European markets today," said David Jones, chief market strategist at IG Markets. "But overall the market is still nervous, and all of last week there were ongoing concerns about how strong the recovery was."
"So even though we're seeing strength right now, we may see it start to run out of steam as the week goes on and investors turn back to worries about growth," he added.
World markets: Stocks around the world rose. In the early going in Europe, the FTSE 100 in Britain, Germany's DAX and France's CAC 40 all rallied more than 2%.
In Asia, the Shanghai Composite soared 1.9%. Hong Kong's Hang Seng index finished the session 1.2% higher and Japan's Nikkei added 0.8%.
Economy: The Institute for Supply Management's services sector index is due to be released at 10 a.m. ET. The index is forecast to have fallen to 55 in June from 55.4 in May. Any reading above 50 indicates expansion in the sector.
Dollar and commodities: The dollar was lower against the euro and the British pound, but up versus the Japanese yen.
U.S. light crude oil for August delivery climbed $1.05 to $73.20 a barrel.
COMEX gold's August contract edged down $4.20 to $1,203.20 per ounce.
Bonds: Treasury prices rose, pushing the yield on the 10-year note down to 2.97% from 2.98% late Friday. Bond prices and yields move in opposite directions.
pharoah88 ( Date: 05-Jul-2010 14:36) Posted:
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STI opens lower
SINGAPORE shares opened lower on Tuesday, with the benchmark Straits Times Index at 2,829.54 in early trade, down 0.51 per cent, or 14.48 points.
Around 50.1 million shares exchanged hands.
Losers beat gainers 80 to 14.
dOw is subject tO INFLATiON and DEFLATiON
STi is subject tO DiSFLATiON
INFLATiON: LiViNG cOsts RiSE; PRiCES RiSE; SALARiES RiSE; DEPOSiT iNTEREST Rate RiSE; ANNUiTY RiSE; LOAN iNTEREST Rate RiSE; gOvernment eXpenditure RiSE; Taxes RiSE.
DEFLATiON: LiViNG cOsts Fall; PRiCES Fall; SALARiES Fall; DEPOSiT iNTEREST Rate Fall; ANNuiTY Fall; LOAN iNTEREST Rate Fall; gOvernment eXpenditure Fall; Taxes Fall.
DiSFLATiON: LiViNG cOsts RiSE; PRiCES RiSE; SALARiES Fall; DEPOSiT iNTEREST Rate Fall; ANNUiTY Fall; LOAN iNTEREST Rate RiSE; gOvernment eXpenditure RiSE; Taxes RiSE.
DiSFLATiON is mOst DEADLY.
It is iNternally generated and nOt iMpOrted.
There is nO ESCAPE and cannOt be AVOiDED.
It is a dOuble-EdgEd PRESS and cUts iNwards frOm bOth SiDES.
CiTizens have tO DiE TWiCE frOm this dOuble SQUEEZE.
DiE And DiE [DAD]
DON'T call mE DAD
STI lower at midday
SINGAPORE shares were lower at midday on Monday, with the benchmark Straits Times Index at 2,842.1, down 0.07 per cent, or 2.09 points.
About 527.5 million shares exchanged hands.
Losers beat gainers 199 to 100.
Global:
· Twin headwinds in the form of the Eurozone debt crisis and renewed worries about a China-led global slowdown contributed to a general flight to quality. A turbulent June saw China’s announcement of “greater flexibility” for the Yuan, the exit of Australian PM Rudd, measures to manage capital flows in South Korea and Indonesia, and the US financial reform bill. Global risk appetite took a sharp hit when the US consumer confidence unexpectedly plunged from a revised 62.7 in May to 52.9 in June. In addition to the Conference Board revised its leading economic index for China down from +1.7% to just +0.3% in April on a Calculation Error. This sent equity markets reeling, the 2-year US Treasury bond yield down to a record low of 0.60%, and the VIX back above the 30 handle. European banks also hoarded cash ahead of the €442b maturity of the 1-year ECB lending facility on 1 July, even as regional central banks stepped up purchases of Greek, Portuguese and Irish government bonds, ahead of the upcoming European bank stress test results due in late July. With lingering headwinds, expect the global environment to remain conducive to bonds amid general de-risking.
MEDiOCRACY
Australian PM gets tough on immigration
Gillard vows not to let ‘political correctness’ get in the way
SYDNEY
Ms Gillard, who ruthlessly deposed former leader Kevin Rudd and solved the mining tax row that weakened him a week later, said people should not be called racist for raising concerns about asylumseekers.
“I certainly dismiss labels like intolerant or racist because people raise concerns about border security but we’ve also got to be very alive to the complexity of this andthat there’s no quick fix,” Ms Gillard told the
“There’s a temptation for people to use these labels and names to try and close down debate and I’m very opposed to that. People need to be able to have honest discussions.
“So any sort of political correctness, or niceties that get in the way, I think, need to be swept out of the way.”
The Welsh-born Ms Gillard, whose parents emigrated to Australia in 1966, has made it a top priority to slow the steady flow of asylum-seeker boats that plagued the Rudd government.
She also defended former conservative leader John Howard, whose tough immigration policies were scrapped by Mr Rudd, after he was dubbed a “closet racist” in Indian media over his failed bid to lead world cricket’s governing body.
“The suggestion John Howard should be labelled a racist, what a load of nonsense. He’s most certainly someone who’s not,” she said.
The new Prime Minister is due to make an announcement before a three-month freeze on processing Afghan and Sri Lankan asylumseekers — which was criticised by the United Nations — ends on Thursday.
Foreign Minister Stephen Smith told the
Another boat carrying 34 asylum- seekers was intercepted yesterday, underlining a problem that arouses strong passions in voters and is likely to be a major factor at elections expected within the coming months.
Ms Gillard on Friday announced a compromise deal on the mining tax, which had drawn strong protests from the powerful resources industry and cost Mr Rudd vital support.
— Australia’s new Prime Minister Julia Gillard (picture) yesterday vowed not to let “political correctness” get in the way of tackling immigration, signalling a tough line on the issue.Sunday Telegraph.Ten Network television station that Australia wanted to “work not just with the source countries like Afghanistan and Sri Lanka but also transit countries through our region — Indonesia, Malaysia, Thailand”.afpGood for you.
I'm moving to Defensive Stocks now.
Will be more aggressive when I see clearer direction.
Good luck to you.
Hulumas ( Date: 05-Jul-2010 11:25) Posted:
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wIthOUT DEMO,
DEMO-CRACY
cannOt EXiST
pharoah88 ( Date: 05-Jul-2010 11:38) Posted:
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Clinton challenges
rights crackdown
BAKU
Day, United States Secretary of
State Hillary Clinton is challenging what she
calls a global crackdown on human rights,
lamenting a “steel vise’’ squeezing the life
out social activism.
Ms Clinton arrived in this Caspian Sea nation yesterday after declaring in Poland that intolerant governments around the world are undercutting rights groups whose work is vital to the development of democracy. She said the trend is apparent, and growing worse, even in countries that call themselves DEMO-CRACIES.
Ms Clinton spoke briefly with President Ilham Aliyev at the latter’s residence.
Mr Aliyev wished her a happy Fourth of July and then stressed the urgency of his country’s territorial dispute with neighbouring Armenia. The two nations are in conflict over Nagorno-Karabakh, an enclave in Azerbaijan that has been under control of Armenian troops and ethnic Armenian forces since a 1994 cease-fire.
“This is the major problem for us and the major threat to regional security,” he said.
At an airport news conference later with her Azeri counterpart Elmar Mammadyarov, Ms Clinton said they had discussed at length the territorial dispute.
“The final steps toward peace are often the most difficult, but we believe peace is possible,” Ms Clinton told reporters.
“This is a high priority for the United States,” she added. She said the 1994 ceasefire agreement “must be enforced”.
Following her meeting with Mr Aliyev, Ms Clinton met about a dozen Azeri youth activists, including bloggers, to encourage them to speak out in favour of social change.
She said she raised the issue of freedom of expression in her talks with Mr Aliyev. Ms Clinton said both she and President Barack Obama have received letters about Azeri bloggers imprisoned for their writings.
(Azerbaijan) — On America’s IndependenceAPalexchia01 ( Date: 05-Jul-2010 11:08) Posted:
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GENIUS caused mOre DAMAGE than IDIOTS
MEDiOCRACY and MERiTOCRACY are iN clOSe bOrders
It is absurd and troubling to spend US$1 billion on three days of meetings under any circumstances (since there are much cheaper ways to have such meetings and much better uses for the money).
***** SKYPE SUMMIT is F R E E ********
But it is tragic to spend so much money and then accomplish next to nothing in terms of concrete results and honest accountability.
pharoah88 ( Date: 05-Jul-2010 11:11) Posted:
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An iNFAMOUS sOng "GENIUS & IDIOTS" in HONG KONG tells the TRUTH and the DiFFERENCE between GENIUS and IDIOTS.
GENIUS and IDIOTS are brOthers and SiSTERS and PEERS.
GENIUS and IDIOTS bOrder On One anOther
GENIUS and IDIOTS have the SAME MOTIVATION
GENIUS and IDIOTS have the SAME HUMAN VICES
MERiTOCRARY and MEDiOCRACY bOrder On One anOther
One can find MERiTOCRACY iN MEDiOCRACY
One can find MEDiOCRACY iN MERiTOCRACY
DON'T be MiSled by MERiTOCRACY as mOre sUperiOR than MEDiOCRACY due tO the Presence of PETERACY (The PETER PRiNCiPLE)
GENIUS and IDIOTS are ALL PETERS
At the end of the day, GENIUS cause mOre DAMAGE than the IDIOTS
pharoah88 ( Date: 05-Jul-2010 10:53) Posted:
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Ya, you are right.
No one minds.
Are you Buying now?
Hulumas ( Date: 05-Jul-2010 11:03) Posted:
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