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Senator Sanders proposes legislation to break up large banks

Connie Madon — Fri, 06 Nov 2009 17:00:00 EST

Filed under: Management, Industry, Market matters, Money and Finance Today, Politics, Headline news, Federal Reserve, Financial Crisis

US Senator Bernie Sanders, independent from Vermont, is known for his straightforward and unbiased positions.

His new legislative proposal is to break up big banks that are deemed "too big to fail." To quote Mr. Sanders: "if an institution is too big to fail, it is too big to exist. We should break them up so they are no longer in a position to bring down our entire economy."

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US/China trade war heats up with duties slapped on steel pipe imports

Connie Madon — Fri, 06 Nov 2009 13:40:00 EST

Filed under: International markets, Competitive strategy, China, Market matters, Commodities, Headline news, Recession

A few weeks ago the US government slapped import duties on Chinese manufactured tires. China shot back by launching and investigation through the World Trade Organization (WTO) of US car exports to China.

Now we have round two. The US has imposed import duties of up to 99% on $2.6 billion dollars of Chinese pipe imports.

The ruling is temporary, however, US Customs will start collecting cash or bond deposits on imports. A final ruling will be made in March. Meanwhile, President Obama plans his first visit to China within a few weeks.

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Cramer on BloggingStocks: Standing firm but alone on housing

Jim Cramer — Fri, 06 Nov 2009 09:20:00 EST

Filed under: Market matters, Federal Natl Mtge (FNM), Wells Fargo (WFC), Housing, Cramer on BloggingStocks

From TheStreet.com Network

TheStreet.com's Jim Cramer says the bears simply won't hear the positives -- but he'll keep hammering them home.

Lots of things are coming together for housing, but nobody seems to care. We had Wells Fargo (NYSE: WFC) (Cramer's Take) the other day offer attractive interest-only mortgage loans to those in trouble, a bet that eventually housing will go higher. We had Fannie (NYSE: FNM) (Cramer's Take) allow people in trouble to rent to stay in their homes, and the government is going to extend the tax credit for homebuyers and broaden it. Plus, mortgage rates went under 5% again.

But nobody cared. No one.

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Before the bell: Futures decline after unemployment rate rises to 10.2%

Melly Alazraki — Fri, 06 Nov 2009 07:45:00 EST

Filed under: Before the bell, International markets, Employees, Market matters, Economic data, DJIA

U.S. stock futures were higher Friday morning, continuing Thursday's strong performance and nearing two-week highs. All eyes this morning will turn to the government's jobs report. While there have been signs of growth and recovery in the economy, the labor market has been one of the biggest concerns, as the Federal Reserve statement just from Wednesday attests.

[Update 8:33 a.m.: Stock futures changed course after the government reported the unemployment rate rose to 10.2%, above the 9.9% expected. Nonfarm payrolls dropped by 190,000 in October, bringing to total number of jobs lost in the recession to 7.3 million.]

U.S. stock markets surged about 2% on Thursday with the Dow Jones Industrial Average reclaiming the 10,000 mark with a 203 point move. Positive economic news, including sales results from retailers and upbeat outlook from tech giant Cisco (NASDAQ: CSCO).

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Central Banks lead a shift away from the dollar

Connie Madon — Thu, 05 Nov 2009 16:30:00 EST

Filed under: India, China, Brazil, Russia, Market matters, Money and Finance Today, Federal Reserve

The US dollar is down 20% since 2002 on a trade weighted basis. Other world economies like China are dynamic, with growth rates of 8 and 9%. With that kind of clout, countries like China, India and Brazil, can choose where to place their reserves.

Slowly, developing countries are shifting their reserves away from the dollar into the euro and yen. Neil Mellor, strategist at Bank of New York Mellon Corp (NYSE: BK), which has some $20 trillion dollars in assets under custody said: "I don't think there will be an imminent move, but it is quite clear there's a plan to shift reserves to a more balanced portfolio."

Barclays Capital Research reported that central banks placed 63% of new cash in non US currencies between April and July.

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Goldman traders are the best on the Street

Connie Madon — Thu, 05 Nov 2009 15:10:00 EST

Filed under: Earnings reports, Management, Competitive strategy, Market matters, Money and Finance Today

They are the masters of the game. Who are they? They are the traders at Goldman Sachs.

Why is Goldman Sachs Co. (NYSE: GS) the best? Take a look at the record. Goldman traders had one loss in the third quarter. They had a string of 36 $100 million days out of 65 trading days. These figures were down slightly when Goldman had 46 $100 million trades in the second quarter.

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Will the Fed's loose money policy be successful?

Connie Madon — Thu, 05 Nov 2009 12:10:00 EST

Filed under: Market matters, Money and Finance Today, Commodities, Oil, Federal Reserve, Recession

Wednesday, the Fed announced that interest rates would remain at zero to 0.25% for at least the next six months.

The Fed statement read as follows: "weak conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period." The only change in the Fed's policy was a tweak in the amount of corporate debt that the Fed intends to buy.

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Cramer on BloggingStocks: All I'm asking for is rigor

Jim Cramer — Thu, 05 Nov 2009 09:30:00 EST

Filed under: Google (GOOG), Apple Inc (AAPL), Pfizer (PFE), Market matters, McDonald's (MCD), Caterpillar (CAT), Bristol-Myers Squibb (BMY), Chevron Corp (CVX), General Mills (GIS), Procter and Gamble (PG), Kimberly-Clark (KMB), Kohl's Corp (KSS), Polo Ralph Lauren'A' (RL), Stocks to Buy, Cramer on BloggingStocks

From TheStreet.com Network

TheStreet.com's Jim Cramer says you can be bearish, but you have to admit when you're wrong.

Oh boy, I hit a nerve. My last two days of donning the bear suit and imitating the bears has brought on a cacophony of critics, all of whom think that I am attacking them personally! That's right, they think I have read them, seen them and heard them and that I am spoofing them or making fun of them.

Moreover, they think that I am wildly bullish and that I am mocking them for not wanting to buy things here.

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Before the bell: Futures higher after data, earnings

Melly Alazraki — Thu, 05 Nov 2009 07:40:00 EST

Filed under: Before the bell, International markets, Cisco Systems (CSCO), Toyota Motor Corp. (TM), Market matters, Economic data, Federal Reserve

U.S. stock futures drifted a little lower (later a little higher) Thursday morning following Wednesday's Federal Reserve's statement that it was keeping rates at record low levels. However, earnings from tech giant Cisco accompanied by an upbeat outlook could give a boost to tech. Also this morning, investors will watch as retail chain-stores report October sales.

[Update: Futures now point to a higher open following retail sales data, earnings and lower claims numbers.]

On Wednesday, Wall Street ended mixed and relatively flat after the Federal Reserve decided to keep rates steady. While conceding the economy has picked up, policymakers said this was not enough to hike interest rates, saying an increase will instead depend on when the labor market and inflation pickup. Given that there have been no inflationary pressures and that unemployment is expected to rise, the dollar weakened yesterday and short-term Treasury yields fell. The Fed also cautioned consumer spending would remain strained. Of course, the market would have liked to see a stronger show of confidence.

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Cisco posts strong Q1 earnings

Michael Fowlkes — Wed, 04 Nov 2009 18:00:00 EST

Filed under: Earnings reports, Forecasts, Good news, Cisco Systems (CSCO), Market matters, Technology, Recession

Following today's market close, technology giant Cisco Systems (NASDAQ: CSCO) had its chance to impress Wall Street with its fiscal first quarter results, and the company did not disappoint.

Going into this afternoon's earnings report, analysts had been expecting to see the company show earnings of 31 cents per share, but the company surprised to the upside by posting actual earnings of 36 cents per share for its fiscal first quarter. For the same period last year the company had earnings of 42 cents per share.

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The Fed decision: almost exactly as expected!

Douglas S. Roberts — Wed, 04 Nov 2009 15:45:00 EST

Filed under: Market matters, Money and Finance Today, Economic data, Politics, Federal Reserve, Recession, Financial Crisis

The Federal Reserve Open Market Committee (FOMC) issued its statement almost exactly as expected. The language on interest rates is remaining low for an extended period of time remained largely unchanged, and the decision was unanimous.

As I have mentioned earlier, the Fed continues to avoid any potential language which could disrupt the financial markets. Any potentially controversial ideas seem to be reserved for speeches by the Chairman and other government officials.

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Cramer on BloggingStocks: Stunning elections put health care names back in play

Jim Cramer — Wed, 04 Nov 2009 09:00:00 EST

Filed under: Market matters, Stocks to Buy, Cramer on BloggingStocks

From TheStreet.com Network

TheStreet.com's Jim Cramer says stocks like WellPoint are buys again because the months of rhetoric will end.

Buy WellPoint (NYSE: WLP) (Cramer's Take). Right now. That's what I thought the moment I saw Chris Christie's shocking triumph in my home state last night. It was a stunning referendum of the anti-jobs nature of health care and how the Democrats are now being tagged with job losses and a health care obsession that hurts hiring.

Not everyone has a seat as safe as Nancy Pelosi. Many have seats thought to be as safe as Corzine's. They have to be shaking today.

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Before the bell: Futures rise ahead of Fed decision

Melly Alazraki — Wed, 04 Nov 2009 07:30:00 EST

Filed under: Before the bell, International markets, Time Warner (TWX), Berkshire Hathaway (BRK.A), Market matters, Johnson and Johnson (JNJ), Economic data, Oil, Federal Reserve, Burlington Northern Santa Fe (BNI)

U.S. stock futures climbed on Wednesday morning, ahead of the decision by the Federal Reserve on interest-rate and monetary policy. This afternoon, the Fed will give its outlook on the economy and the corresponding policy it's taking. It is widely believed the Fed will not raise rates. Meanwhile, more earnings and economic data are on tap.

Unlike this morning, traders appeared more cautious Tuesday, as the Fed began its two-day policy meeting. Stocks ended mixed and fairly unchanged following news that Warren Buffett's Berkshire Hathaway (NYSE: BRK.B) has decided to buy Burlington Northern Santa Fe (NYSE: BNI) in a deal worth $44 billion and as Johnson & Johnson (NYSE: JNJ) announced a 6-7% workforce reduction.

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Why is gold trading at record levels? Look to India for the answer

Connie Madon — Tue, 03 Nov 2009 18:00:00 EST

Filed under: Major movement, International markets, Deals, Market matters, Money and Finance Today, Commodities

Here's a shocker: India's central bank just bought 200 tons of gold.

India paid $6.7 billion to the International Monetary Fund for the gold, securing the equivalent of 8% of the world's annual production. India's move is a clear signal that Asia is moving away from the U.S. dollar.

India's finance minister said the reason for the purchase was that the economies of Europe and the US had "collapsed."

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Are stocks about to get routed?

Connie Madon — Tue, 03 Nov 2009 11:00:00 EST

Filed under: International markets, Forecasts, India, China, Brazil, Market matters, Commodities, Oil

Bloomberg News took a recent poll of its subscribers. Here are some highlights of the survey:

Only 31% of investors saw investment opportunities in the stock market, down from 35% in the July survey.
Worldwide, investors see the U.S. as the weakest link in the world economy. Twenty five percent of respondents see an unemployment rate of 11% in the U.S. next year.
Respondents see China and India as the most promising markets and commodities are the asset of choice.
Real Estate and bonds are out of favor, with 40% saying that bonds will have the worst returns over the next year.

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Are stocks about to get routed? originally appeared on BloggingStocks on Tue, 03 Nov 2009 11:00:00 EST. Please see our terms for use of feeds.

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Cramer on BloggingStocks: Going it alone isn't always wise

Jim Cramer — Tue, 03 Nov 2009 10:00:00 EST

Filed under: Market matters, Black and Decker (BDK), Cramer on BloggingStocks

From TheStreet.com Network

TheStreet.com's Jim Cramer says opportunistic mergers help deliver value to shareholders during difficult times.

The companies aren't oblivious to this difficult environment. It isn't just that they look at the futures and say, "Uh oh, here comes another bad one" -- the reaction we all feel today. No, it doesn't work like that. They realize that growth's been lowered worldwide and that they can't do it on their own because they don't have critical mass and they have to give up and get together with others in their industries to bring out value.

Black & Decker (NYSE: BDK) (Cramer's Take) and Encore (NYSE: EAC) (Cramer's Take) came to this exact same conclusion at the same time. They just can't make more money for their shareholders independently than they can with other partners. With Encore settling for Denbury's (NYSE: DNR) (Cramer's Take) bid and Black & Decker agreeing to be acquired by Stanley Works (NYSE: SWK) (Cramer's Take), both are settling for about half of what their companies were worth two years ago. But the world has changed in two years, and a lot of the rosy scenarios that justified being independent have to be reconsidered.

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Before the bell: Futures point to a sharply lower start

Melly Alazraki — Tue, 03 Nov 2009 07:45:00 EST

Filed under: Before the bell, International markets, Market matters, Economic data, Lloyds TSB Group plc ADS (LYG), Federal Reserve, Financial Crisis

If on Monday investors were ready to bounce back from Friday's selloff, today stock futures are sharply lower, indicating U.S. stock markets are poised to slump at the open ahead of the Federal Reserve two-day policy meeting that begins today. Another rate hike from Australia, poor results from UBS and weak European markets weigh on sentiment.

Monday was a volatile session. Stocks rallied in the morning following a surprise profit from Ford (NYSE: S) and an upbeat home sales reading, but mostly due to October's manufacturing index that jumped to its highest level in three and a-half years. That didn't hold up, though and the Dow skidded to negative territory only to bounce back later in the afternoon as buyers came back in.

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Before the bell: Futures point to a sharply lower start originally appeared on BloggingStocks on Tue, 03 Nov 2009 07:45:00 EST. Please see our terms for use of feeds.

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Wet harvest causes grain prices to rise 7.7%. Should we buy our Wheaties now?

Connie Madon — Mon, 02 Nov 2009 18:00:00 EST

Filed under: International markets, Products and services, Consumer experience, Market matters, Commodities, Agriculture

We've had wet weather in the Midwest during the harvest season, resulting in higher grain prices.

The U.S. Department of Agriculture (USDA) issued a report on wholesale crop prices paid to farmers. Let's look at some prices:

Corn rose 29 cents per bushel to $3.54
Wheat jumped 8 cents per bushel to $4.56
Soybeans dropped 1 cent per bushel to $9.74
Wholesale milk prices jumped 7.1% in October to $1.19 per gallon. Milk prices, however are down 22% from last year.

Continue reading Wet harvest causes grain prices to rise 7.7%. Should we buy our Wheaties now?

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Fed meets bank executives on pay: Will the sparks fly?

Connie Madon — Mon, 02 Nov 2009 14:00:00 EST

Filed under: Launches, Management, Industry, Market matters, Federal Reserve

Wouldn't you like to be a fly on the wall when the Fed meets with bankers on pay review? You can bet that sparks will fly.

Monday is the day this happens. We already know that the bankers do not want the Fed meddling in their compensation policies. However, there is pressure from the public and Congress for a clamp down on excessive bank pay and bonuses, especially at the big banks.

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Fed meets bank executives on pay: Will the sparks fly? originally appeared on BloggingStocks on Mon, 02 Nov 2009 14:00:00 EST. Please see our terms for use of feeds.

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Cramer on BloggingStocks: Assigning blame after Friday's market plunge

Jim Cramer — Mon, 02 Nov 2009 10:00:00 EST

Filed under: Coca-Cola (KO), PepsiCo (PEP), Market matters, Citigroup Inc. (C), CIT Group (CIT), Kellogg Co (K), General Mills (GIS), Cramer on BloggingStocks

From TheStreet.com Network

TheStreet.com's Jim Cramer wonders whether the big selloff was caused by anxious managers locking in profits.

What happens if it is was mostly lock-in action? What if the big themes that everyone so feared weren't so big, and that the selloff -- so ugly, with so much damage -- was just technical and remains that way?

Besides my oft-repeated statement that I don't expect a pullback to exceed 7%, I think this market didn't make a lot of sense last week.

Here were the big themes: dollar getting stronger, causing a decline in minerals and resources; industrials faltering; recession stocks roaring back.

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