Daily Highlights: 5.7.09

• Administration pledges support for Greece while market regulators launch trading investigation.
• Calif. AG sues former pension fund officials for fraud.
• E. coli outbreak sickens 19 people in 3 states.
• Euro zone summit to try to cover debt crisis.
• Geithner urges Congress to equip regulators.
• German lower approves a law to free up Germany's contribution to a multi-billion euro rescue package for Greece.
• Jobs expected to grow in April; Wall Street tremors over debt crisis could limit future gains.
• Oil hovers above $77 in Asia as euro stabilizes after steep drop on Europe debt crisis.
• AIG's March results up from a $4.3B loss last year to a $1.4B gain this year.
• Alcatel CEO Verwaayen’s credibility tested by its 1Q losses.
• American General Finance did not receive support from AIG after Feb. 2001.
• Avis signs a confidentiality agreement with Thrifty.
• HK shares fall to their lowest level in three months; concerns heightened over the possible spillover of Greece's debt crisis.
• ILFC did not receive extended support from AIG after Feb. 2011.
• Kraft's net income jumps in 1st quarter on growth after Cadbury acquisition.
• Munich Re says Q1 profit rose 11.3 percent to $613.4 million.
• RBS reports a narrower 1Q net loss helped by falling bad-debt charges.
• Shell tells federal court it's ready to drill in Arctic; environmentalists push for delay.
• Solera Holdings posts 3Q GAAP net income attributable to the company of $22.6 million or $0.32 per share.

RECENT RATING ACTIONS

ACE LTD (ACE)
WASTE MANAGEMENT INC (WM)
HERSHEY CO/THE (HSY)
SINCLAIR BROADCAST GROUP (SBGI)
TEXTRON INC (TXT)
BOYD GAMING CORP (BYD)
QUANTA SERVICES INC (PWR)
RR DONNELLEY & SONS CO (RRD)
TIME WARNER INC (TWX)
DEVON ENERGY CORP (DVN)
NEWS CORP (NWS)
PULTE GROUP INC (PHM)

Data provided by Egan-Jones Ratings and Analytics

Comments

[hedgeless_horseman]

Unemployment up to 9.9%

May 7 (Bloomberg) -- Employment in the U.S. increased in April by the most in four years and the unemployment rate unexpectedly rose as thousands of people entered the labor force, indicating the recovery is becoming self-sustaining.

What the fuck kind of logic is that?  Thousands of people entered the labor force, but tens of thosands got the fat (middle) finger, so the recovery is becoming self-sustaining?

[Sudden Debt]

Because red is the same as green for the colour blinded.

[Mr Lennon Hendrix]

Yesterday was the first day of the weekend long Trilateral Commission meeting.  The Commission was founded by David Rockefeller and Zbigniew Brzezinski.

Official website:

http://www.trilateral.org/

[Grand Supercycle]

Posted May 1st - a week before the crash.

 '11,250 / 300 is an area of significant resistance and if this level can’t be breached it should signal the end of the March 2009 bear market rally - the weekly DOW chart shows an expanding wedge indicating a significant move is probable - this remains an overbought bear market rally and the uptrend could falter at any time - the VIX index continues to give bullish warnings which is bearish for equities - long term charts of key equity indexes continue to give bearish warnings and the March 2009 lows will be breached in my opinion - USD Index bullish warnings since 2009 on the weekly and monthly chart have not changed and further USD strength and thus EURO weakness is still expected '

http://www.zerohedge.com/forum/latest-market-outlook-0

http://stockmarket618.wordpress.com