Daily Highlights: 7.16.10

Tyler Durden's picture
  • Americans blame Bush, not Obama, for deficit, jobs and Afghan War
  • Asian stocks fall for 2nd day, Yen strengthens on US output.
  • China interest-rate swaps decline to one-year low on slower growth outlook.
  • Cost of Living, Consumer confidence in US probably dropped.
  • Crude oil falls a third day as economic reports show recovery may falter.
  • Turkey's central bank kept its benchmark interest rate steady at 7%.
  • Advanced Micro beats by $0.05, reports Q2 EPS of $0.11. Revs rose 5.1% to $1.65B.
  • AgriBank gains in Hong Kong on debut after $19.2B IPO.
  • Airbus & Boeing duopoly starts to crack as rivals from Canada, China and Russia attack
  • Bank of America's June net income down slightly from $3.2B last year to $3.1B this year.
  • Arthur J. Gallagher announces new $500 mln credit facility.
  • BP nears $11B asset sale to Apache
  • BP Plc may saddle potential buyers of its assets with lawsuits as it tries to raise money.
  • BP test cap temporarily staunched the Gulf oil leak.
  • Carrefour reported a 6.3% rise in qtrly sales, helped by a positive FX impact.
  • CitiGroup's June net income declined from $4.3B last year to $2.7B this year.
  • GE's June net income rises from $2.7N last year to $3.1B this year.
  • GlaxoSmithKline to record $2.4B in charges in Q2 to cover the cost of settling legal disputes.
  • Goldman will pay $550M to SEC to settle charges related to subprime mortgage CDOs.
  • Google misses by $0.07, posts Q2 EPS of $6.45. Revs rose 25.0% to $5.09B.
  • Honam Petrochemical to buy Malaysia's Titan Chemicals for $1.25B.
  • Nokia board faces call for change on $77B lost value
  • Polycom reports Q2 EPS of $0.34 (cons $0.32); revs rose 27.7% to $295M.
  • Schwab's June net income remains at $205M.
  • Smithtown Bancorp to merge with People's United Financial for ~$4/share.
  • Sony Ericsson swings to second-quarter profit
  • Spectra Energy acquires Bobcat's Gas Storage assets and development project for $540M.
  • Wal-Mart said to seek $1.2B selling Samurai bond sales on July 21
  • WP Carey plans to spend about $3B buying European properties and leasing them back.

Economic Calendar: Data on CPI, Mich Sentiment to be released.




Data provided by Egan-Jones Ratings and Analytics

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RossInvestor's picture

Tyler, can you restore the links?  Again, thanks for the tremendous work!!

fuu's picture

And gold drops $16 and Silver down $0.30 in just over an hour. On what news again?

mrgneiss's picture

I think its options expiration today.

gringo28's picture

why shouldn't it? it went up on no news, thus it falls just the same. that's why gold is a trade, not insurance nor an investment; contrary to the bugs' threats, the world will not fall apart and gold will not supplant paper (i.e. credit).

fuu's picture

Going up on no news in this environment is not exceptional, it's rational actually.


Going down on no news in this environment is worthy of a passing comment on a website. Had they been trending lower all night I wouldn't have even bothered to comment. But right at comex open there they go.


Hansel's picture

On the news that financial reform is about to pass, allowing the TBTF to continue gold and silver shenanigans via derivatives ad infinitum.

RicardoM from Temecula CA's picture

Now I'm upset. GWB is to blame for Afghanistan. But, fiscal deficits are solely the responsibility of Congress. And (my teachers told me not to start a sentence with "and"; I no longer believe teachers), lack of jobs are because of a whole bunch of things. No wonder America is in world of shet. Blaming everything and anything on a single President, even one that was in place 8 years, is a stretch. But, then again, Americans are into stretching just about anything; like their budget and the truth.

DosZap's picture


I have after nearly 2 yrs, YET to see Obamam take ownership of any ONE of our major problems.

And, he's signed off on all of them...............after instructiong Congress on how to do it.

With the exception of the ObamaCare(which Congress had almost nothing to do with,(except to agree with),  as it was drafted, and printed by the SEIU Thugs, and SORO's operatives.

What was to be the most transparent & open admin in History.........has been just the opposite.

overmedicatedundersexed's picture

we in the USA blame the puppets while the real power - entrenched bureaucrats, congress staff,

corrupt courts, bloated government agency's run the country..

wall st insiders , media, military, going in and out of gov then back to private corps and think tanks (CFR) as an example.

at one time the GOP was for elimination of dept of energy, education, housing etc..

they were quickly brought to heel.

blame the front-men while the elites stay hidden

ZH better then most sites, does shine light in

the dark basement of this stinking cabal.

Herne the Hunter's picture

BDI Friday! Wonder what the damage is...

glenlloyd's picture

"Americans blame Bush, not Obama, for deficit, jobs and Afghan War"

blame for deficits = both

jobs = both

afghan war = obama

you can probably blame both of them for the afghan war in reality, the problem is not a party / leader issue, it's a Washington DC mentality and corporate puppetmasters issue.


midtowng's picture

"afghan war = obama"

 How do you figure? We were in Afghanistan for 7 years before Obama took over. That's all you need to know.

JR's picture


Be careful of cherry-picked headlines and the mediaya…and gobbledygooked Bloomberg polls… IE:

Democrats, facing a U.S. electorate angry about the economy and other issues, still have one political asset: George W. Bush.

The former Republican president is blamed more than President Barack Obama for the budget deficit, unemployment and illegal immigration, according to a Bloomberg National Poll conducted July 9-12.

Most surprising is that 60 percent say Bush is primarily responsible for the current situation in Afghanistan. Just 10 percent point to Obama, who has ordered 51,000 additional troops to that country since taking office, doubling the number deployed by Bush.  …

The public remembers the Bush years as a tumultuous time of costly wars, and the years when a budget surplus became a deficit,” said J. Ann Selzer, president of Selzer & Co., a Des Moines, Iowa-based firm that conducted the survey. ...

Asked to compare Bush’s response to Hurricane Katrina with Obama’s handling of the oil spill in the Gulf of Mexico, 51 percent say Bush’s performance was worse, while 35 percent name Obama. Republicans are more likely to pan Obama’s performance on the oil spill, with 69 percent saying he did worse than Bush.

Facing a tough environment in the November congressional elections, when their control of both chambers may be at stake, Obama and his fellow Democrats often mention the problems they inherited from the previous administration, which left the White House 18 months ago.

“They spent a decade driving the economy into a ditch,” Obama, 48, said at a Las Vegas fundraiser on July 8 for Senate Majority Leader Harry Reid of Nevada. “And now they’re asking for the keys back. And my answer is, ‘no, you can’t have the keys. You can’t drive. You don’t know how to drive. You drive in the wrong direction.’”  ...

More blame Bush than Obama for the federal deficit, 32 percent to 24 percent. Among Republicans, 39 percent say Obama is to blame, while about a quarter of independents hold that view. …

On unemployment, Bush is listed as most responsible by 32 percent, compared with 22 percent for Obama. Those with incomes below $25,000 are more likely to blame Bush for the unemployment rate, which was 9.5 percent in June. …

The Bloomberg National Poll is based on interviews with 1,004 U.S. adults ages 18 or older. Percentages based on the full sample may have a maximum margin of error of plus or minus 3.1 percentage points.

Et cetera….


A poll sample of likely voters, along with how the questions are phrased, and the pollster, will be of immensely more value as November looms.

docj's picture

based on interviews with 1,004 U.S. adults

Pretty much tells you all you need to know right there.  35% of said "adults" aren't even registered to vote and of the 65% who are nearly half of them exercise said franchise during any given election.  So that means roughly 60% of these "adults", statistically speaking, can't even be bothered to cast a vote.

So how informed do you think they are on the actual events of the day?  More likely, they just buy the daily pap fed to them by the media (and, by extention, the Administration and TPTB).

Pinky's picture

Wow. Check it!

BP oil leak fixed, weeny Goldman settlement done, toothless financial reform bill passed, all on the same day, what a coinkydink!  Yesterday was SO productive. And so lucrative! Score 3 for the BP/Goldman/Fed/Treas Nexus, bet they partied hard last night!

And then deep in the night  several hours later, a 3.7 Richter Disturbance in the Force under the Federal buildings in Washington, D.C., in/near Germantown home of the fancyfolk. "Cause uncertain." Man, I want someone to write a book about this before I'm dead.