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Daily Highlights: 6.1.10

Tyler Durden's picture




 
  • Asian stocks fall on Japan political concern, China growth.
  • China's manufacturing expands at slower pace as economic growth moderates.
  • China supercomputer named second-fastest in global list.
  • ECB expects additional $239.26B in write-downs by European banks.
  • ECB states rating firms aggravates crisis.
  • Euro-zone unemployment tops 10% in April.
  • Euro moved lower against USD, Yen, on German Pres. Köhler's unexpected resignation.
  • Evans says Fed could delay ending low rates.
  • German unemployment declines twice as fast as forecast on rising exports.
  • Japanese industrial output rose a seasonally adjusted 1.3% in April from a month earlier.
  • Japan's PM Hatoyama to discuss future with Ozawa as support slumps.
  • Oil hovers below $73 in Asia.
  • Reserve Bank of Australia Tuesday left its cash-rate target on hold at 4.50%
  • Steel prices set to fall in Europe on economic problems, slowdown in demand.
  • Twelve of Spain's 45 savings banks have begun merger talk.
  • US, EU scrutinize shipping rates for any evidence of price fixing.
  • AIG says won't accept lower Prudential offer for Asian insurance business AIA.
  • Deadline extended in contract negotiations between Alcoa, United Steelworkers.
  • Apple said it sold two million iPads in less than 60 days after it was introduced.
  • BP tumbles most in 18 years after abandoning attempt to plug leaking well.
  • Healthscope received two new bids valuing the company at $1.56B.
  • Honda offers strikers in China 24% pay boost.
  • Hynix raises capex spending by 32% to $2.5B, ends ties with Numonyx.
  • Nomura more than tripled pay to top managers last fiscal year as it returned to profit.
  • Prudential fails in bid to reduce price of AIA takeover, jeopardizing deal.
  • Ryanair back in profit for full year.

Economic Calendar: Data on Construction Spending, ISM Index to be released today.

Earnings Calendar: BNS, CMN, GIII, KCAP, LGF, PSS, TRU.

RECENT RATING ACTIONS
HJ HEINZ CO (HNZ)
US BANCORP (USB)
UNIVERSAL CORP/VA (UVV)
TOYS R US INC/OLD (TOY)
EXXON MOBIL CORP (XOM)
WEYERHAEUSER CO (WY)
GOODYEAR TIRE & RUBBER (GT)
CHEVRON CORP (CVX)
BRITISH AMERICAN TOBACCO (BATS LN)
SOTHEBY'S (BID)
COSTCO WHOLESALE CORP (COST)
DELUXE CORP (DLX)

Data provided by Egan-Jones Ratings and Analytics

 

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Tue, 06/01/2010 - 08:43 | 386170 Turd Ferguson
Turd Ferguson's picture

Hmmm, Let's see. The euro is, once again, approaching 1.2150. Which central bank will be the Kninght in Shining Armor today?

ECB? Probably not.

JCB? Nope. Other concerns at present.

The Fed. Ah yes, of course. Any time now boys... 

Tue, 06/01/2010 - 10:21 | 386359 Turd Ferguson
Turd Ferguson's picture

I reply to myself: Nice call. $/Euro back to 1.2254

Tue, 06/01/2010 - 10:31 | 386395 Turd Ferguson
Turd Ferguson's picture

Now 1.2320

Tue, 06/01/2010 - 10:32 | 386405 Turd Ferguson
Turd Ferguson's picture

Now 1.2344

Tue, 06/01/2010 - 08:48 | 386180 ZeroPower
ZeroPower's picture

And BOC rate decision at 9am

Tue, 06/01/2010 - 09:00 | 386209 jkruffin
jkruffin's picture

The tropical storm from Central America is headed into the Gulf.  WOW, the hits keep on coming.

Tue, 06/01/2010 - 09:03 | 386216 jkruffin
jkruffin's picture

Jobs picture not looking to rosy this morning as the FED claims either

HP cutting 9k jobs and taking a $1 Billion charge, is going to use automated hubs

Now isn't that lovely?  Companies that shut people out of jobs for automation should tell people one thing,  don't buy anything from them and they will close their doors completely soon when all their customers are gone.

 

Tue, 06/01/2010 - 11:25 | 386583 AnAnonymous
AnAnonymous's picture

Why? People are not on the same boat and some will welcome the change.

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