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Frontrunning: August 23

Tyler Durden's picture




 
  • Bernanke to aid recovery with gradual boost in dosage (Reuters)
  • China factory output cools in August: HSBC (Reuters)
  • German court to rule on Sept 7 on euro, Greek bailouts (Reuters)
  • European Banks Must Pay Up to Borrow $100B (Bloomberg)
  • A ‘no-growth’ boom will follow 2012 global crash (Market Watch)
  • Merkel and Sarkozy Relationship Betrays Europe Crisis (Bloomberg)
  • White House to Scale Back Regulations on Businesses (WSJ)
  • Japan's Maehara Enters Race for Prime Minister (WSJ)
  • 'Arab Spring' Gives Way to an Uncertain Autumn (WSJ)
  • Regime Digs In Against Rebels (WSJ)
  • Euphemism 101: Soft Data Spur Trims to Growth Forecasts (WSJ)

Global highlights from Egan-Jones

  • Asian stocks climb as Copper, Gold advance on speculation of Fed stimulus.
  • China overtakes U.S. as largest market for PC's.
  • China says Libyan oil projects benefit both sides and hopes for return to stability.
  • Gold futures traded over $1,900 in Asia on Tuesday, continuing its record-breaking run.
  • HSBC's China "flash" PMI strengthened to a two-month high of 49.8 in August.
  • Irene strengthens to category 2 storm, threatening northeast US coast.
  • Mortgage delinquency rate rises to 8.44%; Foreclosure starts fall to lowest since 2007: MBA.
  • Oil rises above $86 in Asia as Libyan rebels battle Gadhafi supporters in Tripoli.
  • US economic activity rose in July, according to the Federal Reserve Bank of Chicago.
  • Alpha Natural Resources Inc. said it approved the repurchase of up to $600M in stock.
  • Buffett-backed BYD slumps in Hong Kong trading after 99% plunge in profit.
  • Cerberus backs out of Innkeepers purchase as buyouts show signs of stress.
  • Delta Air Lines plans to order 100 Boeing Co. 737 single-aisle jets, deal est. at $8.58B.
  • Focus Media beats by $0.07, posts Q2 EPS of $0.44. Revs rose 13.1% to $179M.
  • Ford and Toyota said they will partner to develop a new gas-electric hybrids.
  • Foster’s to return $520M to shareholders to thwart SABMiller offer.
  • Goldman says Blankfein hired lawyer in relation to US inquiry.
  • International Paper, PE firm Atlas Holdings to combine their consumer-packaging operations.
  • Lockheed Martin acquire QTC Holdings; terms of the agreement were not disclosed.
  • Lowe's to buy back up to $5B of its shares.
  • Maxim Integrated to buy back up to $750M in shares.
  • Newmont Mining plans new underground exploration program at its Waihi site in New Zealand.
  • Regulators gave Exxon permission to restart a 20-mile segment of Silvertip pipeline in Montana.
  • Sanofi-Aventis in talks to buy a majority stake in India's Universal Medicare Pvt. Ltd.
  • Travelzoo to buy back up to 500,000 shares.
  • UBS AG plans to cut about 3,500 jobs to help reduce annual costs by $2.5B.

Economic Calendar: New Home Sales to be release today.

Earnings Calendar: BAMM, COCO, DAKT, DY, HNZ, LZB, MDT, PSUN, TAYD, ULGX, WSM.

 

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Tue, 08/23/2011 - 08:12 | 1589512 hugovanderbubble
hugovanderbubble's picture

http://www.rankia.com/respuestas/906214/fotos/52312

France is not AAA and UK neither too, dont hold UK and French Bonds cos downgrade is going to be effective soon

Rothschild bank will act as stabilizer agent...OH SNB Thanks for showing us the light...

 

Switzerland making Socgen going to the hell.

 

Rothschild vs Rockefeller war has just started

Tue, 08/23/2011 - 07:54 | 1589514 digitlman
digitlman's picture

If Bernanke's "aid" involves him quitting, then I am all for it!

Tue, 08/23/2011 - 07:55 | 1589517 Captain Benny
Captain Benny's picture

Tyler, the link for "White House to Scale Back Regulations on Businesses (WSJ)" is incorrect.  It should be: http://online.wsj.com/article/SB10001424053111904279004576524870307612628.html?mod=googlenews_wsj for the paywall

Tue, 08/23/2011 - 07:58 | 1589518 Popo
Popo's picture

Bernanke's "boost in dosage" is an indication of the kind of Fed speak we can expect to see.

This is jawboning.   They're promising to do "something" ... "as necessary"... "where possible".

As if the entire world didn't just witness 100% of QE2 coming unwound in a matter of months.

There's no possible way for a "smaller drip" of stimulus to have *ANY* effect whatsoever given that the supposedly knock-out punch of QE2 did absolutely nothing.

 

 

Tue, 08/23/2011 - 08:07 | 1589530 the not so migh...
the not so mighty maximiza's picture

I disagree; just a miner sub conscious thought of more stimuli will give the market a woody. Without it a soft-on for life

Tue, 08/23/2011 - 08:10 | 1589532 Cultural Capital
Cultural Capital's picture

stationary state, bitchez 

Tue, 08/23/2011 - 08:13 | 1589536 Randy Kruger
Randy Kruger's picture

Front page Bloomberg news:

 

http://www.bloomberg.com/news/2011-08-23/gold-declines-from-record-above-1-910-as-some-investors-sell.html

 

Apparently Bberg editorial staff thinks that a $15 drop in spot is now top news.  And I thought they only paid attention to iJunk and patent trolls.

Tue, 08/23/2011 - 08:21 | 1589547 Catullus
Catullus's picture

Holy shit. It almost plunged 1%.  Stick save.

 

HAHA

Tue, 08/23/2011 - 08:20 | 1589544 Careless Whisper
Careless Whisper's picture

 

 

The Morning Careless Whisper Report

Icahn: $2 Billion Bet To Short S&P 500

http://www.nypost.com/p/news/business/icahn_bet_vs_3CnYcShBYgyQBTsWxKXtFJ

China Rail Boss, Blamed For Crash; "Heart Attack"

http://www.nytimes.com/reuters/2011/08/23/world/asia/international-us-ch...

7 Years Of Money Laundering; Miami Bank Fined - No Criminal Charges

http://www.miamiherald.com/2011/08/22/2370465/ocean-bank-to-pay-nearly-1...

Fukishima Homes Off Limits For Several Decades

http://www.guardian.co.uk/world/2011/aug/22/japan-nuclear-disaster-radia...

Ho Claims Forced In To Prostitution By Pimp's "Marijuana Habit"

http://www.palmbeachpost.com/news/crime/palm-beach-shores-man-arrested-f...

Chines Vice Minister; Why Do West Governments Spend So Much More Than They Have?

http://www.spiegel.de/international/world/0,1518,781597,00.html

Glee Project Winner; Damian Mcginty - Beyond The Sea

http://www.youtube.com/watch?v=YMtJ8MbEdGM

 

Tue, 08/23/2011 - 08:23 | 1589550 Catullus
Catullus's picture

Is Reuters already writing damage control for Friday? 

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