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Daily Highlights: 9.15.09
- Asia currencies gain on signs recovery may spur rate increases.
- British inflation falls back to 1.6 percent amid favorable oil price comparisons.
- Car, gas sales seen boosting August retail sales, but consumers cautious.
- China shares rise for 3rd day on economic recovery hopes, led by metals.
- EU deepens investigation into Dutch govt.'s plan to buy ING bad assets.
- Dollar trades near weakest level this year on record low borrowing costs.
- Foreign direct investment in China climbed for the first time in 11 months in August.
- German investor sentiment may rise to 3-year high as economy rebounds.
- Obama is 'optimistic' US financial rules overhaul will happen this year.
- President of Federal Reserve Bank of San Francisco expects 'tepid recovery'.
- Stocks in Asia fluctuated as phone, finance stocks dropped, while mining shares gained.
- UK Housing market shows first gains since 2007: Royal Institution of Chart. Survey.
- Avaya buys Nortel business that makes phone systems for businesses for $900M.
- Brazil's Marfrig Alimentos to acquire Cargill's Brazilian business for $900M cash.
- CA Inc. to acquire privately held NetQoS Inc. for $200M cash.
- Campbell Soup's Q4 net falls 22% to $69M on trademark write-offs.
- China Investment Corp. in talks to invest $300M in a Mongolian iron-ore mine.
- Chrysler sales expected to fall sharply in Sept, as it tries to revamp its model lineup.
- Delta Air cuts fuel-cost f'cast, but expects pensions costs to rise $450M next year.
- Eli Lilly to reduce work force by ~14%, or 5,500 employees, to save $1B by 2011.
- Intuit Inc. agreed to buy personal-finance site Mint.com for $170M.
- Kraft Foods is considering formal offer for Cadbury, Chief Rosenfeld says.
- Lubrizol raises 2009 EPS view to $6.10-6.40 on better volumes, lower costs.
- Munich Re CEO: Company will resume buying back its own shares in 2009.
- Pall Corp.'s Q4 net falls 0.6% to $69.5M; revs down 9.9% to $652M.
- Sasol's full year net fell 39% to $1.81B on lower crude, chemical products prices.
- Telstra told to split into network, retail units to bolster competition.
- Tenet Healthcare raises full-year EBITDA forecast to $900-950M (prev $810-875M).
- Toys "R" Us is opening scores of temporary stores for the holidays.
- US said to explore selling 34% Citigroup stake acquired in bank rescue.
- Willis Group Holdings agrees to pay $130M to settle legal dispute with CNA Fincl Corp.
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Of course retail sales went up. Because prices of everything went up.
Sales adjusted for inflation would show something entirely different.
What am I missing here? Everything I have bought in last 3 months was significantly marked down, around 70%, and it wasn't like I had to look hard either. My food bill is down a lot, restaurants are doing promos all the time to drag in people, my travel expenses are way down ( mostly airfare and hotel costs ), etc. I'm not seeing it, and Austin is supposedly "relatively immune" to the recession, compared to the harder hit areas of the country.
Anything that isn't markedly on sale doesn't move, in my little sphere, other than gasoline.
Best Buy & Kroger miss.
Margins!
PPI data say margin shrinkage is going to accelerate quickly as soon as manufacturing tries to tick up.
Data is out, S & P up 1-2%. Doesn't matter if the news is "good" or "bad",
data=rocket.
Get your SPY calls while they're hot!
Nat Gas short squeeze continues through $3.50.
Everything is a dollar trade... even retail goods. The dollar price of everything seems to be in a phase alignment process. This will ultimately create massive instability for the dollar. We now ride a very tight peak wave. If we only knew which side of the curve we were going to ultimately slide down... inflation or deflation.
they are dumping dollars for anything. Even Germany issued their bonds in American dollars.
Look at the metal ramp in China. It=dollar dumpola
These numbers are pathetic. If gas goes up, everything costs more. And ex. autos and gas, all they could come up with +0.7%? With back-to-school and all the government subsidies paid out to "buy school supplies?" Are you serious?
Congrats to the media/govt for setting expectations for ex-autos at 0.4% when gas went up during the month along with school shopping. They got their pop again. Let's see what they can fanagle for September.
Also, DXY popped big on these numbers. Just more slack to weaken the dollar and drive up the market today. Does anyone doubt yesterday's inexplicable runup was a setup to pop the SPX over 1050 with these numbers?
Don't retail numbers usually go up in August? Back to school time anyone?
Why is Toy's R Us opening scores of temporary stores? Is this the same Toy's r Us that gave away 500,000 dollars to charity and spend $4.5 million advertising it?
retail sales went up as incomes fell and consumer credit tanked big time.....yeah...right.
We are being fed lies lies lies lies lies lies lies. This rally is computer-controlled and accompanied by a louder propaganda campaign than I ever imagined possible. The idiots accepting this as okay had better wake up, because the same old crooks are laughing and lining their pockets right now with all the Fed dollars printed up for this disgusting scam. And the dirtbag idiot scammers, too, have only succeeded in turning the markets into a disfunctional farce, which can only aid in ultimately (soon?) destroying the system entirely. Nice going boyz. I wish them all the hell on earth.
It says to me that we may have reached the official point where cutting costs to increase profits margins are
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions