International Business Times

Dow Jones Industrial Average Sets Another Record By Climbing To 15,409.39

mikeobel — Tue, 28 May 2013 20:21:56 GMT

Wall Street set another record on Tuesday as the Dow Jones Industrial Average jumped 106.29 points to a record 15,409.39.

The 0.69 percent gain marks the 20th consecutive Tuesday that the blue chip index of the 30 largest U.S. industrial stocks have climbed, the first such an achievement since 1900, Bloomberg News said.

Investors were encouraged early Tuesday by the Conference Board, which said that its consumer confidence index climbed in May to the highest level in more than five years.

Bank Of Israel Slashes Lending Rate To 1.25% In Effort to Curb The Appreciation Of Shekel

Alexander Kaufman — Tue, 28 May 2013 20:10:38 GMT

Prospects for a full-blown global currency war climbed Tuesday after the Bank of Israel on Tuesday cut its base lending rate by a quarter of a percentage point to 1.25 percent, the second such move in two weeks.

The Love Trade for Gold is Still On!

rogerbaettig — Tue, 28 May 2013 19:06:21 GMT

Investors should have gained confidence from Ben Bernanke’s recent testimony to Congress that the Federal Reserve intends on being accommodative as long as needed. He had a laundry list of job market conditions that needed improving and reiterated that inflation remains low. It’s his belief that “a premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further.”

Gold Prices Could Rise As Central Banks, Pessimistic Investors Lay Groundwork For Rebound: UBS

Nat Rudarakanchana — Tue, 28 May 2013 18:03:44 GMT

Central banks and pessimistic investors are laying the groundwork for what could be a jump in the price of gold from its current level below $1,400 per ounce, according to a note Tuesday from a UBS analyst.

UBS analyst Joni Teves writes that the “extreme” number of investors holding short selling positions in gold might actually encourage a “decent” price hike in the future.

Chevron Looks to Expand in Australia, Reuters and Bloomberg Report

rogerbaettig — Tue, 28 May 2013 17:52:15 GMT

The U.S.'s second largest oil company, Chevron (NYSE: CVX [FREE Stock Trend Analysis]), is planning to increase its investment in Australia by producing more liquefied natural gas (LNG) from its Gorgon and Wheatstone projects.

Cop Killed In Ambush: Kentucky State Police Have Few Clues In Killing Of Bardstown Police Officer Jason Ellis [PHOTO]

hkoplowitz — Tue, 28 May 2013 15:58:19 GMT

Kentucky authorities have few clues in the case of a cop killed in an ambush Saturday on a state highway exit ramp, but they have all but ruled out the possibility that children might have been responsible for the calculated killing of K-9 Officer Jason Ellis of the Bardstown Police Department.

Iran Shells Out $4B Line Of Credit to Assad's Government In Syria

Alexander Kaufman — Tue, 28 May 2013 15:00:49 GMT

Iran has extended two lines of credit worth a total of $4 billion to Syria’s embattled President Bashar al-Assad and hopes to open a third to prop up the war-torn nation’s oil industry in the face of international sanctions, according to a local news report.

Syrian Central Bank Gov. Adib Mayaleh said the “soft loan” from Iran, a long-standing supporter of the Assad regime, will “finance the needs of Syrian oil and oil derivatives,” Tishreen, a government-run daily in Damascus, reported on Monday.

EUR/USD Charts And Observations

rogerbaettig — Tue, 28 May 2013 12:55:21 GMT

EUR/USD Price Action

Abe Pulls Pin on JGB Grenade

rogerbaettig — Tue, 28 May 2013 12:49:52 GMT

Japan has already suffered through a quarter century's worth of an economic malaise because they have refused to allow the free market to work its reconciliation magic. Their reliance on government borrowing and spending to rescue the economy has proven to be a miserable failure. Because of this fact, Japanese politicians have succeeded to increase the debt to GDP ratio to 237%, which should have already caused a collapse in Japanese Government Bonds (JGBs) and the Yen.

Brent Rising On Geopolitical Tension

rogerbaettig — Tue, 28 May 2013 12:42:56 GMT

Tepid global economic growth and growing stockpiles have kept Brent crude oil prices low in recent weeks. However, the commodity saw a lift after geopolitical tension in the Middle East escalated and threatened a supply interruption. Brent traded at 103.50 at 9:33 GMT on Tuesday morning as supply concerns and waning demand pressured the commodity from both sides.

Jamie Dimon Love: Media And Financial Barons Come Out In Support Of JPMorgan Chase CEO [VIDEO]

Luke Villapaz — Fri, 10 May 2013 15:45:02 GMT

Jamie Dimon, president CEO of JPMorgan Chase has come under fire in recent weeks after shareholder advisory firms recommended that shareholders of JPMorgan stock vote to split Chairman and CEO roles, which would effectively demote Dimon. This came in response to the JPMorgan $6.2 trading loss last year due in part to the "London Whale" trade debacle.

Chinese Investors' Love Of Europe Seen Growing As Investment Rose 21% In 2012

Alexander Kaufman — Fri, 10 May 2013 14:05:34 GMT

Chinese companies’ European love affair continued through 2012 as investments in the continent rose by as much as 21 percent, according to a new report.

Europe received $12.6 billion from Chinese companies, making it the foremost destination for Chinese foreign investment, representing 33 percent of it, according to the report from the Hong Kong-based Dezan Shira & Associates’ Asia Briefing.

Abenomics Brings Currency Wars to G7 Talks

rogerbaettig — Fri, 10 May 2013 12:52:04 GMT

Today’s AM fix was USD 1,449.25, EUR 1,114.12 and GBP 941.62 per ounce. Yesterday’s AM fix was USD 1,469.50, EUR 1,118.68 and GBP 944.59 per ounce.

Oil prices on the defensive

rogerbaettig — Fri, 10 May 2013 12:38:59 GMT

Although it looks like the oil market is heading for its third weekly gain in a row the market has been retracing in overnight trading. The spot WTI contract remains above its breakout level of $95/bbl which was breached earlier in the week while the rest of the complex is hovering very close to it range support level. The oil complex remains in a battle between faltering oil demand growth and the support coming from the very easy monetary policies in many areas of the global economy.

Nvidia Beats Q1 Estimates; Provides Weak Guidance

rogerbaettig — Fri, 10 May 2013 12:33:26 GMT

Nvidia (NASDAQ: NVDA [FREE Stock Trend Analysis]) released its fiscal first-quarter earnings after the closing bell on Thursday.

Brent Remains Near $104 on Mixed US and Chinese Data

rogerbaettig — Fri, 10 May 2013 12:28:45 GMT

Brent crude oil traded steadily near $104 on Friday morning as mixed signals kept the commodity trading in a tight range. Brent traded at $104.11 at 8:05 GMT on Friday morning after positive US data gave the commodity a lift, but uncertainty in China kept a lid on prices.

American jobless claims fell last week, injecting optimism into the markets and restoring some confidence in the region's recovery. The number of US citizens filling for unemployment aid dropped to its lowest level in over five years and reconfirmed April's strong employment report.

Euro Under Pressure After Spanish Debt Auction

rogerbaettig — Fri, 10 May 2013 12:23:50 GMT

The euro lost ground on Friday morning after investors looked to take profits on the common currency's two day rise. The euro traded at $1.3013 on Friday morning.

A Spanish debt auction on Thursday was considered smooth by most as the nation was able to raise more than its maximum target of 4.5 billion euros. The Spanish Treasury sold 4.57 billion euros worth of debt, and will return to the market for another sale next week.

Pre-Market Movers (Unilife Corporation, BT Group, Molycorp, ArcelorMittal, Nokia Corporation, Pain Therapeutics Inc, Intersections, Apollo Global, LivePerson)

sreeja.vn — Fri, 10 May 2013 11:25:55 GMT

Unilife Corporation, BT Group Plc, Molycorp, ArcelorMittal, Nokia Corporation, Pain Therapeutics Inc, Intersections Inc, Apollo Global Management LLC and LivePerson Inc are among the companies whose shares are moving in the pre-market trading on Friday.

Gainers

US Stock Futures Point To Higher Open On Friday Ahead Of Federal Budget, Federal Reserve Chairman Ben Bernanke's Speech

sreeja.vn — Fri, 10 May 2013 10:15:20 GMT

U.S. stock index futures point to a higher open on Friday ahead of the release of Federal Budget after the opening bell and Federal Reserve Chairman Ben Bernanke's speech scheduled earlier in the day.

Futures on the Dow Jones Industrial Average were up 0.43 percent, the futures on the Standard & Poor's 500 Index were up 0.31 percent and those on the Nasdaq 100 Index were up 0.35 percent.

Top After-Market NASDAQ Movers (Servicesource, Unilife, Ubiquiti, Sequenom, Erickson Air-Crane, ONCOTHYREON, Allscripts Healthcare, Santarus, magicJack VocalTec Ltd)

sreeja.vn — Fri, 10 May 2013 06:24:25 GMT

The top after-market NASDAQ gainers on Thursday were Servicesource International Inc, Unilife Corporation, Ubiquiti Networks Inc, Sequenom Inc, and Erickson Air-Crane Inc. The top after-market NASDAQ losers were ONCOTHYREON Inc, Allscripts Healthcare Solutions, Santarus Inc and magicJack VocalTec Ltd.

Gainers

BMC Software May Be Acquired For More Than $6.5 Billion By Bain Capital And Golden Gate Capital As Soon As Monday

JJMcGrath — Mon, 06 May 2013 03:26:42 GMT

An announcement that BMC Software Inc. (NASDAQ:BMC) is being acquired for about $46 per share -- a total of more than $6.5 billion -- by a private-equity group consisting of Bain Capital LLC and Golden Gate Capital could come before BMC delivers its financial report for its 2013 fiscal year's fourth quarter Tuesday.

The Houston-based company's share price closed at $45.42 Friday, as it rose 18 cents, or 0.40 percent.

Top After-Market NASDAQ Movers (Arkansas Best, Madison Square, Trius, Audience, Biogen Idec, Brocade Communications, Compuware, Medivation, Finish Line)

sreeja.vn — Sat, 04 May 2013 07:13:00 GMT

The top after-market Nasdaq gainers Friday were Arkansas Best Corporation, The Madison Square Garden Company, Trius Therapeutics Inc., Audience Inc., and Biogen Idec Inc. The top after-market Nasdaq losers were Brocade Communications Systems, Compuware Corporation, Medivation Inc., and Finish Line Inc.

Gainers

Dow Jones Industrial Average, S&P 500 Set Record Highs On Unexpectedly Robust Nonfarm Payroll Report For April, Strong Corporate Earnings

mikeobel — Fri, 03 May 2013 20:10:22 GMT

A surprisingly strong April employment report and robust Q1 corporate earnings lifted shares of U.S. companies into record territory Friday, as both the blue-chip Dow Jones Industrial Average and the broader S&P 500 index of large corporation stocks closed at new highs.

Houston Airport Shooting: Social Media Identifies Gunman As Carnell Marcus Moore [PHOTO]

Zoe Mintz — Fri, 03 May 2013 15:56:38 GMT

Photo: Facebook Social media has named Carnell Marcus Moore as the alleged gunman in the Houston, Texas, airport shooting.

Stock Preparing for Pullback, Buy Bad News, Sell the Good

rogerbaettig — Fri, 03 May 2013 14:57:53 GMT

May 3rd, 2013 at 10:43 amThe SP500 remains in a strong uptrend, but the index has posted a sizable gains for 2013 thus far so it’s only logical that a pullback within this bull market takes place sooner than later. With May now upon us and historically prices fall more times than not I feel a 3-4 weeks correction is on the verge of starting. This Friday we just had very strong economic numbers confirming the economy is recovering. This news has sent stocks sharply higher as shorts cover their positions and investors who are not yet long get into position to profit from higher prices.