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Daily Highlights: 6.10.10

Tyler Durden's picture

  • Asian shares were modestly higher with resource stocks leading, but for China.
  • Bank of Korea keeps rate at record low 2 percent amid strong recovery.
  • Bernanke: US recovery on track despite European crisis, high unemployment.
  • Brazil central bank lifts rate to 10.25%, meeting expectations.
  • China posted a trade surplus for a second straight month in May on higher export growth.
  • Euro climbs to $1.2039 on Bernanke remarks, raising hopes in global economy.
  • EU's Internet chief warns states against choosing proprietary software as standards.
  • Germany, France ask EU to speed up financial reforms.
  • German governors to debate aid for GM's Opel after minister rejects federal help.
  • Greek consumer inflation accelerated to a 5.4% in May, more than three times euro zone level.
  • Japan revises up 1Q economic growth to 5 percent annualized rate from prev. 4.9%.
  • Oil hovers above $74 in Asia as US crude inventories drop suggests demand is improving.
  • OPEC says no need to increase oil supply.
  • Portugal's economy expanded in the first quarter compared with the previous quarter.
  • UN Security Council passes new sanctions against Iran for its nuclear work.
  • US Wholesale inventories up 0.4% - fourth consecutive month gain led by solid gain in sales .
  • BASF has agreed in principle to buy Cognis for more than $3.62B, including debt.
  • CenterPoint Energy prices 22.0 mln common shares at $12.90/sh.
  • Germany refuses GM loan guarantees of more than $1.19B, for restructuring its Opel unit.
  • Goldman faces $1B suit; Basis Capital cites 'false representations' in collapsed CDO deal.
  • Finnair orders 5 Airbus A321ER aircraft in $480 million deal.
  • Men's Wearhouse 's Q1 net rises 156% to $13.6M on 2% rise in revs at $464.1M.
  • US ratcheted up its demands that BP cover all costs stemming from GOM oil spill.
  • Samsung to invest $3.6B to expand capacity of a semiconductor fabrication plant in Texas.
  • Santander to pay $2.5B to buy the remaining 25% share of its Mexican subsidiary from BofA.
  • Sprint overstated 4G phone sales by a third.
  • U.S. taxpayers "remain at risk for severe losses" on AIG bailout : US Panel on restructuring.

Economic Calendar: Data on Initial & Continuing Claims, Treasury Budget to be released today.

Earnings Calendar: AOI, CRAI, DLM, EXPR, FNSR, HRLY, IDT, NAVI, THO.


Data provided by Egan-Jones Ratings and Analytics


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Thu, 06/10/2010 - 08:45 | 405618 MsCreant
MsCreant's picture

Greek consumer inflation accelerated to a 5.4% in May, more than three times euro zone level.

This should work out well with the new austerity measures.

Thu, 06/10/2010 - 08:56 | 405639 E pluribus unum
E pluribus unum's picture

Oil hovers above $74 in Asia as US crude inventories drop suggests demand is improving.


LOL. Yeah all the shrimp in the Gulf of Mexico want more

Thu, 06/10/2010 - 10:18 | 405790 turds in the pu...
turds in the punchbowl's picture

cheers Mr. Unum! regarding heavy sour shrimp:

There is a widespread misconception that the chinese character for "shrimp scampi" results from the superimposition of the character representing "moist" upon the character representing "decapod crustacean". 

This psuedosinophilic reductionist propaganda is to linguistics as chow mien (west coast bitches! ) is to cuisine -- the truth could not be further from this dribble.

If one wanted to reproduce the AUTHENTIC character for "shrimp scampi", he or she would superimpose the character for "biofuel organism" upon that for "Billy Nungesser". Upon this dyad our scribe would then superimpose the character for "I surrender. I just want maria beltramwhateverthef*ck to sit on my face – just once – before the golden horde Donner-Parties me".



Thu, 06/10/2010 - 09:21 | 405680 yabs
yabs's picture

how the f*ck can this happen


Euro climbs to $1.2039 on Bernanke remarks, raising hopes in global economy


how can anyone let alone an entire market listen to this chump


the market is an arse

Thu, 06/10/2010 - 09:58 | 405744 firstdivision
firstdivision's picture

So the markets in the US go up becuase China had exported more shit (and keeps the money in China), the EU is so fucked that they are keeping rates at current levels (probably have to lower the rates in a month), jobless claims had to be revised to 456,000 (which is still higher than economist estimates), and the US tade deficit widened (partially becuase our exports are contracting, which I am sure is helping our jobless problem).  These markets are definitely on some very shaky broken legs.  The crutch will get kicked out any moment now. 

Thu, 06/10/2010 - 10:10 | 405770 yabs
yabs's picture

I hope so but this market will not die it seems


Thu, 06/10/2010 - 11:08 | 405950 Grand Supercycle
Grand Supercycle's picture


The EURO breakout I suggested yesterday, has made its move ...

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