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Friday, December 3, 2010

Stocks in U.S. Gain as Commodities dollar weakens after jobs data

U.S. stocks raw materials increased and extended its biggest weekly rise in more than a year as a falling dollar drove oil prices and metals, helping to overcome a drop early action following an unexpected rise in unemployment. The Standard & Poor's 500 rose 0.3 percent to 1,224.71 at 4 pm in New York, adding to gains in the last half hour after CBS reported that the Federal Reserve, Ben S. Bernanke has not ruled out expanding the central bank program to buy assets beyond $ 600 billion. The dollar index lost 1.5 percent to its biggest drop since July. Oil rose to a 25 - month high near $ 89 a barrel and the S & P / GSCI index of prices rose to its highest level in more than two years. The Dow Jones Industrial Average and S & P 500 earnings rose more than 3.2 percent in the last...

U.S. service economy grows more than expected as ISM index rises to 55

Service industries expanded in November at its fastest pace in six months, showing the U.S. recovery is expanding throughout the year comes to an end. The index of the Institute for Supply Management non-manufacturing, which covers about 90 percent of the economy, rose to 55 last month from 54.3 in October. A reading above 50 signals growth. Target Corp. is one of the largest retailers and sales during the holiday shopping season, testament to the earnings of the costs needed to encourage U.S. companies to increase hiring. A report from the Labor Department today showed the economy generates fewer jobs than expected last month while the unemployment rate rose to its highest level since April. "The economy is improving," said Jeffrey Roach, chief economist at Horizon Investments in Charlotte,...

Euro may reach $ 1.25 in 2011 Ichimoku

The fall of the euro in the last month has led to the currency through key levels on a table Ichimoku call, indicating the decline may continue to $ 1.25 next year, Merrill Lynch Bank of America said, citing patterns trade. The single currency reached a maximum of nine months of $ 1.4282 on Nov. 4, from $ 1.1877 on June 7, the lowest level since March 2006. The currency broke below the bottom of a chart Ichimoku the $ 1.3374 level, and its line of short-term conversion crossed below its long-term base. Also fell below $ 1.3080, representing a 50 percent Fibonacci retracement of the rally from June to November. "After the euro broke below...

Cotton Has Biggest Weekly Gain in 39 Years

Cotton prices rose, capping the biggest weekly gain in 39 years, the growing concern that exports will be limited in India, the second largest producer in the world. shipments of cotton yarn will be capped at 720,000 metric tons in the year that began October 1 in a bid to stabilize domestic prices and increase supply, the government of India said Dec. 1. New York futures have soared 75 percent this year as demand in China rose and stocks fell in the U.S., the leading exporter. "India is not reliable," said Keith Brown, president of Keith Brown & Co., a brokerage firm in Moultrie, Georgia. "We have not solved any problem." For the third...

Crude oil futures increase to 25 months ago in New York as Dollar Falls

Crude oil rose to its highest level in 25 months, while the dollar fell, increasing the appeal of commodities as an alternative investment. Oil jumped 1.4 percent in the dollar index fell to its lowest level since Nov. 23 after U.S. employers added fewer jobs than expected in November. The unemployment rate rose unexpectedly. Futures for delivery from 2013 to 2018 fell below the price of the current month. "The increase is due to a dollar much lower," said Hamza Khan, an analyst of Schork Group Inc., a consulting firm in Villanova, Pennsylvania. "This is not based on fundamentals." Crude oil for January delivery rose $ 1.19 to settle at $ 89.19 a barrel on the New York Mercantile Exchange, the highest closing price since Oct. 7, 2008. Futures rose 6.5 percent this week and 12 percent this...

Madoff Trustee Sues Picard JP Morgan for $ 6.4 billion

The administrator liquidate the investment firm Bernard Madoff sued former JPMorgan Chase & Co. for 6.4 billion U.S. dollars of bank credits with the complicity of fraud the fraudster jailed. Irving H. Picard, the attorney appointed as trustee for a bankruptcy court in New York, said in a statement yesterday that JPMorgan sued seeking $ 1 billion in fees and $ 5.4 billion in damages. "JP Morgan was willfully blind to the fraud, even after knowing many red flags surrounding Madoff," said David J. Sheehan, "Picard's lawyer, said in a statement." CCPE was in the center of that fraud, and fully complicit in it. " Any money recovered from...

U. S. crop commodity stocks gain as producers

U.S. stocks erased losses as the weak dollar boosted oil prices and metals, which sparked a rally in commodity producers helped overcome an early fall action caused by an unexpected rise in unemployment. 500 of Standard & Poor's raised less than 0.1 percent, to 1,222.19 at 3:36 pm in New York after falling to 0.4 percent previously. The dollar index, which measures the currency against six major peers, dropped 1.2 percent to its biggest decline since October. Oil rose 1.4 percent to a 25-month high near $ 89 a barrel and the S & P / GSCI index products rose 1.3 percent above its highest closing level since October 2008 . At the beginning of the decline in stocks came after the Labor Department said U.S. payrolls increased by 39,000 last month, behind the median forecast of economists...

Tax Negotiators Urge Court Delay bipartisan vote pending talks

U.S. lawmakers selected to negotiate with the government of Obama on the extension of all or some of the tax cuts the Bush said congressional leaders should abandon plans to hold polls until the negotiators can meet. Sen. Max Baucus, Montana Democrat, and Rep. David Camp, a Michigan Republican, said having the votes immediately on extending lower tax rates for the first $ 250,000 of income, that President Barack Obama proposed would be premature. Camp, who is the chairman of the House Ways and Means Committee starting in January, and Baucus, chairman of the Senate Finance Committee, was appointed yesterday as Congress delegates to the negotiations....

Bangalore Jokes Manila beatings at $ 21 billion-Call Center Career

During the last decade, Americans dial customer service was a great opportunity to be connected to someone in India. Now they are more likely to end up calling the Philippines. Strong government support, a supply of university graduates speak English and an effort to call center operators to reduce their dependence on India have helped Argentina beat India in call center revenue, Bloomberg reported BusinessWeek in its issue of 06 December. "Not that we're trying to take business from India," said Oscar Sanez, executive director of the Business Processing Association of the Philippines, an industry group. "We're finding our own place in the sun." Philippines earn 5.7 billion U.S. dollars for the call center job this year in the U.S., Europe and Australia, compared with 5.5 billion dollars...

JP Morgan said that oil prices will reach $ 120 a barrel before the end of 2012

Oil advances to $ 120 a barrel before the end of 2012 as consumption grows in emerging economies, according to JPMorgan Chase & Co. The Organization of Petroleum Exporting Countries, which accounts for about 40 percent of global supplies is unlikely to increase production in the first half of next year unless prices increase by $ 100 a barrel, said the bank said in a report released today. Futures traded at around $ 87 a barrel in New York today, near its highest price in two years. "Strong growth in oil demand emerging in the next 24 months is likely to pick up the call on OPEC production levels last seen at the top of the rise in oil prices in 2008," analysts led by Lawrence Eagles in New York, said. "We expect oil stocks to continue their trend of drawing in the first quarter." JP...

Advances in gold above U.S. $ 1,400 Increase payroll less than estimated

Gold rose above $ 1,400 an ounce in New York, USA employers added fewer jobs than expected in November, increasing the demand for wealth protection. Payrolls increased by 39,000 jobs, less than the most pessimistic forecast of economists surveyed by us , the Labor Department figures showed today. The unemployment rate rose to 9.8 percent, the highest since April. Gold futures reached a record $ 1424.30 an ounce on November 09. Weaker than expected jobs data is likely to keep metals driven by continued focus on easy Fed policy, "said Tom Pawlicki, an analyst at MF Global Holdings Ltd. in Chicago, in a report, referring to Federal Reserve. Gold futures for February delivery added $ 13.90, or 1 percent, to $ 1,403.20 an ounce at 8:42 am on the Comex in New York. The metal for immediate delivery...

Rules of the Stock Exchange of research can be affected by U.S. trade probe

Rules for research analysts of stocks will probably not be affected by the U.S. research insider trading has resulted in the arrest of an "expert network" of employees, securities lawyers and law professors said. A technology specialist Asia in Primary Global Research LLC, which matches investors with industry experts, was accused of leaking inside information within the framework of U.S. Attorney General Eric Holder, called a "very serious "criminal investigation of illegal operations on Wall Street. Researchers have assaulted three hedge funds and money managers including Janus Capital Group Inc. said The shares, which are an extension of federal cases filed last year that have produced 14 convictions, raising questions about whether regulators are redefining what constitutes legitimate...

U.S. stock Futures Retreat unexpected increase in unemployment rate

The U.S. stock futures slid, indicating the market may cut a weekly meeting, after slower growth than expected in payroll and an unexpected increase in the unemployment rate dampened optimism about economic recovery. Hewlett-Packard Co., Citigroup Inc. and Amazon.com Inc. retreated at least 1.3 percent to lead abatement among the largest U.S. companies. Kroger Co. and Safeway Inc. fell more than 1 percent each after Barclays Plc lowered the ratings of the two supermarket chains. Futures on the Standard & Poor's 500 Index expiring this month lost 0.6 percent to 1,215.8 at 9:11 am after climbing to 0.4 percent before the jobs report. Dow Jones Industrial Average futures fell 57 points, or 0.5 percent, to 11,306. "It is a recovery of the glaciers to the labor market," said Chad Morganlander,...

Unemployment climbs to 9.8% in the U.S. Only adds 39,000 jobs

Employers added jobs Fewer Than forecast in November and the Unemployment rate unexpectedly increaser, underscoring the Federal Reserve's decision to pump more money Into the economy to spur growth. Payrolls INCREASED 39.000, Less Than The Most pessimistic projection of Economists survey by us, after a revised 172.000 Increase the prior month, Labor Department figures today Eichmann in Washington. The jobless rate rose to 8.9 Percent, the Highest Since April, while earnings stagnate and Worked hours. Stocks Decline and Treasury securities as the report Eichmann Jumped Payrolls Are not growing fast enough to reduce the jobless rate, one reason why Fed policy makers Announced a new round of Monetary stimulus. More Jobs Are Needed to Sustain the holiday-season input gains in Consumer Spending,...

Oil falls after U.S. Payrolls rise less than expected

Oil fell, cutting its biggest weekly gain in a month on signs that economic recovery in the U.S. is fighting the world's largest consumer of crude. Future resigned earlier gains after the Labor Department figures showed that U.S. employers added fewer jobs than expected in November and the unemployment rate rose unexpectedly, claiming the Federal Reserve's decision to inject more money into the economy to stimulate growth. Oil for January delivery on the New York Mercantile Exchange fell to 58 cents to $ 87.42 and was at $ 87.71 a barrel at 13:35 London time. Earlier it rose to $ 88.33 a barrel, the highest since Nov. 11, and 4.5 percent this week. Brent crude for January in Europe ICE Futures exchange in London fell 23 cents to $ 90.46 a barrel, after reaching a maximum of two years of...

U.S. Treasuries Advance Then adds fewer jobs than expected in November

Treasuries rose after U.S. employers added fewer jobs in November forecast of economists, reigniting concern the pace of economic recovery will be slow. yields ten-year note fell from the highest level since July yesterday reached the Labor Department said the economy created 39,000 jobs, below the median of a survey. "I see nothing good in numbers," said John Briggs, government bond strategist U.S. at the Royal Bank of Scotland, RBS Securities unit in Stamford, Connecticut, one of the 18 primary dealers trade with the Federal Reserve. "Despite the stronger manufacturing data, which could be a reflection of the weakness of the dollar in recent months, there are a lot of wood to chop in the field of employment and firms seem to be reluctant to continue to recruit" . The yield on the 10-year...

Big Lots, Chipotle, CVB, eBay, Teekay, Walter Power

Shares of the following companies may have unusual movements in U.S. trade. Stock symbols are in parentheses and prices are from 7:45 am in New York. Amazon.com Inc. (AMZN U.S.) increased 0.3 percent to $ 177.07. Most e-commerce company invested $ 175 million in LivingSocial.com, a newspaper coupon website to benefit from growing demand for online discounts on products and services. Big Lots Inc. (BIG U.S.) fell 3.7 percent to $ 29.94. The seller of excess inventory reduced its earnings forecast for 2010 to no more than $ 2.81 per share. The company previously projected at least $ 2.82 per share. Cadence Pharmaceuticals Inc. (CADX U.S.): The San Diego company, signed Bristol-Myers Squibb Co. (BMY U.S.) to injections Ofirmev for sale in the U.S. and Canada, according to a regulatory filing. Chipotle...

Snow, frost disrupted trains, planes across Europe for Fifth Day

Snow and freezing temperatures continue to affect services to the Channel Tunnel rail passengers, while airport operators say travelers tend to have more breaks in the tracks reopened across Europe. Eurostar Group Ltd. plans to operate a "significant reduction" calendar until at least Dec. 5 and has halted all sales of tickets to next week, said on its website. London Gatwick Airport, the UK's second busiest, opened this morning after being closed since 30 November. Passengers should expect delays and cancellations, according to the website of the airport. The unusually cold weather caused a major disruption of air transportation in Europe...

U.S. equity futures decrease as Treasuries, Gold Rally Report weaker employment

U.S. -stock futures fell, erasing an earlier gain, and Treasury bonds rose after losing employment growth estimates of economists in November and the unemployment rate rose unexpectedly, dampening optimism about economic recovery. Gold rose and left the oil. Futures on the Standard & Poor's 500 Index expiring this month lost 0.5 percent to 1,217.1 at 8:36 am in New York after rising to 0.4 percent before the jobs report. Dow Jones Industrial Average futures fell 46 points, or 0.4 percent, to 11,317. The yield on the benchmark 10-year Treasury lost seven basis points to 2.92 percent. Gold for immediate delivery rose 0.8 percent and oil...

European shares fall as U.S. employers create fewer jobs than forecast

European shares retreated after the U.S. economy generates fewer jobs in November than economists had forecast. The benchmark Stoxx Europe 600 Index lost 0.5 percent to 270.33 at 1:34 pm in London, having swung between gains to losses of at least 13 times. The number of jobs increased by 39,000 last month, the lack of the average estimate of 150,0...

Best World Cup Promotion Units Steel Bond Rally in Five Months

Russia's bid to 2018 World Cup host football is driving the biggest bond rally in five months for most steel producers as the government prepares to spend at least 9.6 billion U.S. dollars and expanding stage airports and roads. The yield on dollar bonds maturing in 2013, OAO Severstal, Russia's largest steelmaker, fell 5 basis points to 5.235 percent, adding to 26 from yesterday's drop point, the biggest drop since July. Advances in Evraz Group SA, the second largest steelmaker, boosted the performance of its bonds in dollars for 2015, the biggest drop in three days since May. costs of borrowing relative to the U.S. Russia Treasury bonds fell and the benchmark Micex stock rose to the highest level since July 2008, after soccer governing body FIFA gave the world's most-watched sporting event...

JP Morgan, Deutsche Bank Battle of Rich as the rules change

JPMorgan Chase & Co., Deutsche Bank AG and Citigroup Inc. are hiring bankers who cater to wealthy clients as the more stringent capital standards reduces the profitability of investment banking. JPMorgan, the largest U.S. bank by market value, plans to increase their personal wealth management in Europe, Middle East and Africa up to 20 percent per year until 2013. Frankfurt-based Deutsche Bank is strengthening its business in Asia after the purchase of Sal Oppenheim Group, the largest independent private bank in Germany, nine months ago, said spokesman Klaus Winkler. Leaders of the Group of 20 plans approved last month at a meeting in...

Copper heads for first weekly advance in four weeks before U.S. payrolls

Copper headed for the first weekly advance in four weeks in New York before a report that may indicate a strengthening U.S. economy, the second largest consumer of the metal world. An increase in November payrolls probably pushed U.S. gains work beyond the 1 million mark for the year, economists said. Copper added 5.6 percent this week as reports showed stronger manufacturing in China, USA and Europe and inventory followed by the London Metal Exchange shrank during 41 weeks in a row. "The market is just waiting ahead of U.S. payrolls today," said David Thurtell, analyst at Citigroup Inc. in London. Copper for March delivery fell 0.4 cents, or 0.1 percent, to $ 3.975 a pound at 7:47 am on the Comex in New York. Copper for delivery in three months lost 0.1 percent to $ 8,710 a ton on the...

Peripheral Debt Falls Central Bank May Buy Bonds speculation Region

bonds Irish, Greek and Portuguese rose, reducing the performance gap with the benchmark German bonds amid speculation the European Central Bank to buy more assets from countries with high deficits to curb the debt crisis. Ireland 10-year bonds headed for their biggest weekly advance since May 14, when the European Union and the International Monetary Fund announced an endorsement for nations in crisis. The ECB Irish buy bonds today, according to three traders with knowledge of the transactions. Growth of regional service and manufacturing industries accelerated more than initially estimated in November. "We've seen quite a tightening of spreads in the last two days on increasing the purchase of BCE," said Vincent Chaigneau, head of rate strategy at Societe Generale SA in London. "Investors...

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