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Daily Highlights: 2.17.10
- Asian stocks, currencies rally on improved earnings, global growth outlook.
- China cuts US Treasury holdings by most (-4.3%) in decade; Japan buys more debt.
- Hong Kong Exchange expects more IPOs from overseas to tap China investors.
- Japan's Service demand fell 0.9% in December, biggest slide in nine months.
- Oil trades above $77 after advancing as Euro strengthens against Dollar.
- Treasuries decline on speculation US Housing, Production rose last month.
- Treasury says new loans by 11 TARP banks rose 13% in December.
- U.K. unemployment claims jump to highest since 1997.
- Yen near 2-week low on recovery signs, waning Greece concerns.
- BNP Paribas CEO says Bank would look at 'FDIC-assisted' transactions, US retail takeovers 'not a priority'.
- Deere's Jan. net income rose from $203M last year to $243M this year.
- Exxon adds 2B barrels of oil equivalents to reserves in 2009, thanks to nat-gas projects.
- General Growth Properties rejects Simon's $10B bid as too low, invites others.
- India's Bharti offers $9B for Zain's Africa Telecom unit, to take on $1.7B debt.
- ING Groep posts $980M Q4 loss, almost double estimates.
- Kraft posts Q4 net of $710M amid moderating commodity prices, lower costs. Revs up 3.2%.
- Merck sales and profit up sharply in 4th quarter due to $41.1B Schering-Plough purchase.
- Mitsui to invest $1.4B to take part in a shale-gas development project in Pennsylvania.
- Navistar Defense awarded $752M contract for MaxxPro Dash MRAP vehicles.
- Perry Ellis expects FY10 EPS at or above the top end of its prev view of $0.80-0.95.
- Qwest Comm's Q4 net falls 39% to $108M on severance costs. Revs down 9.7% at $2.99B.
- Tax dispute that may require a ruling from IRS stalls $15B AIG, MetLife deal.
- US govt conditionally commits $8.33B to Southern Co. and its partners to build a nuclear power plant.
- Whole Foods Market beats est., Q1 net rises 79% to $49.7M. Revs up 7%.
Economic Calendar: Data on Building Permits, Housing Starts, Capacity Util., Minutes of FOMC Meeting to be released.
Earnings Calendar: AAP, ACGY, ADI, CHK, DE, DVN, GENZ, HPQ, IAG, ING, KGC,OC, OMX, PCLN, RCI, XJT.
RECENT RATING ACTIONS
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“The US is not a viable concern anymore”http://ftalphaville.ft.com/blog/2010/02/17/150521/the-us-is-not-a-viable...
and so the rally continues .............
This is absolute B*llsh8t
How can stocks keep on going up?
It defies belief
Agreed, but up it trudges nonetheless because larger forces are at work. Hedge for the downside but be patient because it may take months to come to fruition. Play some S&P minis when the internals are favorable. Pay off all of your debts and save cash. If/when hyperinflation hits, food, energy, water and other consumables will cost a lot more.
if you're anticipating high inflation, then I'd say you would NOT want to pay your debts off now. I'm paying mine off because I have no clue what's coming. I haven't figured out what will happen yet, as it's still a toss up between 'the artificial markets' will drive things up long enough that there will be an actual, (yet not without an inflationary hangover,) recovery, or the balloon will just pop and debt will deflate like crazy. So, I'm doing what I think is sensible: pretend like nothing is happening, but keep looking for a sign that something is going concretely in one direction or the other in order to change course then. I haven't seen anything yet. I'm not a serious investor though, so my lack of a strategy certainly isn't good enough for someone who is.
Once the BS good news runs out it will
ONEY and I care NOT who writes the LAWS," Nat_han R0thschi1ds
Learn the truth behind the fake recovery!!FED does that for the Financial Aristocracy and D1CTAT0RSHIP!
“What to do:
1. Allow the Financial Dictatorship where Wall Street Banksters Owns Congress? http://bartspace12.blogspot.com/2010/02/deficits-unpaid-banks-fed-move.html
2. A State trying to serve its Communities' Needs on Main Street while maximizing productivity and employment?
Is this a Difficult Decision? If you are a Bankster you want #1! If you are everybody eles you want #2!”
“Yes and they are using REAL LOANS - NOT FAKE FRAUDULENT PAPER that is "SURE to FAIL!" so Massive Casino Bets can be ” PAID to CR00KS!
crosey
maybe thats why the market is going up
People see equities less risky than cash?
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