Frontrunning: June 6

• US data chief warns on employment - "Probably the most notable thing about [the jobs report] is there isn’t anything notable about it,” said Keith Hall, commissioner of the Bureau of Labor Statistics (FT)
• Geithner May Support Lagarde for IMF to Keep U.S. Leadership of World Bank (Bloomberg)
• Obama Is Focusing on Tax Incentives, Subsidies to Spur Jobs, Goolsbee Says (Bloomberg)
• Socialists ousted in Portugal election (FT)
• Sino-Forest to provide details of tree ownership (Daily Mail)
• New data suggests Iran military link-UN atom chief (Reuters)
• Rain quenches thirst of areas hit by drought (China Daily)
• Obama nominee withdraws from Fed race (FT, Reuters)
• Thousands protest against Greek austerity (FT)
• Plan Focuses on Rescheduling of Greek Debt (FT)
• Iran to send caretaker oil minister to OPEC (Reuters)
• Ingredients of a European political union (FT)
• The world economy survives crisis after crisis (FT)
• Saudi Arabia to push OPEC to lift oil output, cut prices (Reuters)
• Johnson: EU Needs Trichet’s Unified Finance Ministry (Bloomberg)

Global Highlights courtesy of Egan-Jones:

• Airline profits forecast cut 54% by IATA on Japan quake, rising fuel costs.
• Asia stocks decline after US jobs growth slows.
• China Airlines may be exempted from EU carbon plan: report.
• Dollar gains seen evaporating as Fed maintains stimulus while growth slows.
• Egypt secures $3B IMF standby loan agreement to help bridge projected deficit.
• Europe producer-price inflation slows for first time in 8 months.
• German banks top French with $23B in Greek debt, BIS report shows.
• Treasuries snap advance on Greece aid, speculation recent gains too rapid.
• Aegis Group in talks over possible sale of its Synovate market-research arm to Ipsos SA.
• Airbus chief warns on emissions policy; says Brussels risks trade war with Beijing.
• Altria recommends rejection of mini-tender offer by TRC Capital for 4M shares.
• Arch Coal prices 48.0 mln shares of common stock at $27 per share.
• Diageo buys 20% stake in Kenyan brewer from SABMiller for $225M.
• Dynamics Research to acquire High Performance Technologies for $143M in cash.
• First Financial to acquire Liberty Savings Bank's Ohio-based retail branch locations.
• Google being probed by Justice Dept on whether its $900M purchase of Nortel Networks patents can give it an unfair competitive advantage in the wireless sector.
• Host Hotels & Resorts sues Molinaro Koger for flipping properties for its own profit rather than getting highest possible price.
• Lagardere SCA sells its intl magazine businesses in Russia, Ukraine to Hearst Corp.
• Newell Rubbermaid sees Q2 normalized earnings as much as 15% below cons.
• Nintendo says US server breached, no data lost.
• PartnerRe expects $50M-$70M loss on tornadoes that hit US in late April.
• Prada said to seek as much as $2.6B in Hong Kong initial offering.
• Smithfield Foods terminates negotiations to acquire controlling interest in Campofrio Food.
• Statoil ASA to divest a 24.1% interest in Gassled joint venture for $3.25B.
• Wal-Mart confirms new $15B share repurchase program; increases dividend.
• Wal-Mart on an analyst briefing said it wouldn’t expect to make acquisitions in the US.

Earnings Calendar: CHMP, CRAI, FCEL, FGP, HWKN, KAD, PBY, RFIL, THO.

Comments

[Out9922]

China makin it rain

http://www.youtube.com/watch?v=pWRuPgHOS0w

[Dolemite]

Precious metals to present good buying oppurtunity after a near term correction?

Gold and silver showing signs of weakness, and oil is confirming.

http://deadcatbouncing.blogspot.com/

[rodocostarica]

You may add to this list of headlines

Commie friend of Hugo Chaves appears to have won presidential election in Peru.

But promises that he is not a commie any longer.

Change you can believe in

[Careless Whisper]

Today's front page headline of the day goes to the NY Post:

Hide The Weiner

http://www.nypost.com/archives/covers/;jsessionid=7592E297A435657E68E3B3...

here's the story:

http://www.nypost.com/p/news/local/brooklyn/weiner_is_shrinking_LkOCResr...

not much economic news today, so whatever

[Careless Whisper]

and the good news for south florida property owners (real headline):

South Florida cities find real estate news less bad than before http://www.miamiherald.com/2011/06/04/2251204/cities-find-real-estate-news-less.html#ixzz1OV1G81rP

Miami-Dade and Broward leaders breathed a sign of relief last week when the latest figures showed that this year’s slide in property values was the smallest since 2008.

[djsmps]

The Marketwatch front page headline:

U.S. futures erase declines

Go the article, whose headline is:

U.S. stock futures drift lower; Apple in focus

[the not so migh...]

I thought this was interesting

http://www.tomsguide.com/us/Alarm-Clock-Money-Shredding,news-11412.html

Looks like we really are preparing for hyperinflation subconsciously.

[Azannoth]

"Socialists ousted in Portugal election" - socialists out -> socialists in, you mean

[Problem Is]

"New data suggests Iran military link-UN atom chief"

Let me write that headline:

Japanese toady tows US fascist military line

What else is new? The entry into the Japanese political class means you are a useful idiot US water carrier for life...