Posted on 04/08/2013 11:15:26 PM PDT by dennisw
Daily investment & finance & thread (4-9-13 edition) Freepers lets make some cash
Trying to focus on the markets for today and each day and the economic news
This is where you can impart some investment wisdom to your fellow freepers. You can vent about the big one that got away. You can
chime in how Obama is out to wreck American capitalism.
If you see another FR economic thread you like and want to link to it here, please do
Post your favorite economic site links. Your favorite economic blogs and precious metals blogs and sites
Apmex.com is a solid place with good reputation to buy precious metals and has great presence on ebay for easy quick impulse buys
such as a gift for a college boy's graduation. College Girls too! Even high scoool.
Kitco is the best site for gold and silver charts and other precious metals information
Ping list -- on or off let me know here or via freep-mail. If I missed you then Freep-mail me
I might ping you to other interesting economic threads a few times a week. One per day maybe
Sites that posters have recommended ------ zerohedge turdferguson
pong
I have plenty of experience in stock market. I just can’t take the swings in this kind of market. How can anyone understand the market when Big Ben is pulling the strings behind a curtain. The harder Ben pumps the harder I hold on to cash. It’s been tough road for me.
And the harder Ben pumps the less that cash you’re holding onto his worth. Big-time inflation is on the way and cash is not where you want to be when it hits. IMHO
I read that 90% of today’s trading goes on in the first and last five minutes
NYSE Morning Update”
Ahead of the Bell: Dow futures are trading up 6 points and S&P futures are trading up 2 points on better than expected Q1 earnings from Alcoa, encouraging comments from Fed Chief Ben Bernanke, and lower than expected inflation data from China. Alcoa kicked off first quarter earnings season after the closing bell yesterday and posted results that beat analysts’ expectations. Ben Bernanke said banks are in better shape today than before the financial crisis and global easy monetary policy was beneficial to world economies. China reported that inflation subsided in March on lower food prices.
• On the economic calendar today, wholesale trade for February will be out after the opening bell, 0.5% is expected compared with 1.2% for January.
• The dollar is up against the Japanese yen and down against the euro and British pound. Gold is trading at $1,571. Crude oil is currently trading at $93 a barrel.
• Yesterday, stocks advanced on speculation 1st quarter earnings would help equities rebound from their biggest weekly decline of the year. Although euro zone troubles still weigh on financial markets, after investor sentiment fell for a second straight month.
• On CNBC today, Scott Sperling, Co-President of Thomas H. Lee Partners, talked about THL’s acquisition of CompuCom Systems, Inc., a leading IT services and solutions specialist company. Terms of the deal were not disclosed but reports suggest the CompuCom could be worth about $1.1 billion. Sperling said the IT industry is a growth area, as the company provides technical IT services to many big companies. Separately he said the private equity industry is doing well, despite the bad publicity the sector received during the elections. He added the industry has to keep investing in opportunities to make money.
Monday’s Close
DJIA up 48.23 pts/+0.33%/ 14,613.48
S&P up 9.79 pts/+0.63%/ 1,563.07
Nasdaq up 18.39 pts/+0.57%/ 3,222.25
Tuesday’s Futures
Dow Futures up 6.27 pts/+0.04%
S&P Futures up 2.50 pts/+0.10%
Nasdaq Fut up 8.25 pts/+0.28%
Overseas Markets
FTSE +0.54%
CAC 40 +0.63%
NIKKEI 225 +0.01%
HANG SENG +0.04%
Overseas: World stock markets are up today. European markets are up on better than expected earnings from Alcoa driving a rally in mining stocks. Asian markets are up following better than expected inflation data from Chain.
Economic Reports: NFIB Small Business Optimism Index and Wholesale Trade expected to be 0.5% at 10:00 a.m.
Top Headlines:
• Reports indicate J.C. Penny’s (JCP) boards of directors are now under fire after ousting CEO Ron Johnson and replacing him with his predecessor, former CEO Myron Ullman.
• Brazilian regulators have given the approval to Chevron Corp (CVX) to restart output from an offshore oil field following a spill that forced the company to halt production.
• Reports indicate the DOJ has settled with Ecolab Inc. (ECL) and privately held Periman Mud Service Inc. allowing the proposed merger to move forward without one of Periman’s subsidiaries
• The Senate yesterday confirmed Mary Jo White to serve as head of the Securities and Exchange Commission. White replaced Mary Schapiro, who led the agency from 2009 thru 2012.
Commodities/Currency:
Gold: down $1.60 to $1,571.80
Oil: up 0.23 to $93.60
EUR/USD 1.3040 +0.0017
USD/JPY 98.8750 -0.5900
GBP/USD 1.5292 +0.0027
Volatility Index (VIX): As of the close of business Monday, April 8, the VIX is down 0.73 at 13.19
Companies Reporting Quarterly Earnings:
Alcoa reports Q1 adj EPS 11c, vs. Est 8c and Q1 revenue $5.83B, vs. Est $5.89B.
Synergy Ressources reports Q2 EPS 5c, vs. Est 6c and Q2 revenue $10.9M, vs. Est $11.75M.
Today’s Opening and Closing Bells:
Retail Properties of America, Inc. – Delayed IPO Celebration (Listed on April 5, 2012) will ring the opening bell.
Sasol Limited – Celebrating 10th Anniversary of Listing will ring the closing bell.
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