tag:blogger.com,1999:blog-115622442024-03-07T16:40:30.640-08:00Online Consultancy Network Financial Journal<i>The Independent Business Consultants Network™</i><br>
Exclusive business commentary and a selection of investment, business, economic and marketing feature articles authored by our Consultant and Business Members.Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.comBlogger229125tag:blogger.com,1999:blog-11562244.post-68607882174654467992024-01-21T19:00:00.000-08:002024-01-21T19:00:36.394-08:00Bank Failure List updated November 3, 2023<div style="color: #990000; font-family: Times, "Times New Roman", serif;">
<span style="font-size: x-large;">Failed U.S. Banks and Credit Unions<br /></span></div>
<br />
<div style="font-family: Arial, Helvetica, sans-serif;">
The Federal Deposit Insurance Corp. (FDIC) is often<br />
appointed as receiver for failed banks. These events<br />
are also structured as bank mergers and/or consolidations.</div>
<div style="font-family: Arial, Helvetica, sans-serif;">
</div>
<div style="font-family: Arial, Helvetica, sans-serif;">
<br />
Credit Union Failures are handled in much the same manner, and</div>
<div style="font-family: Arial, Helvetica, sans-serif;">
deposits are insured by the National Credit Union Administration</div>
<div style="font-family: Arial, Helvetica, sans-serif;">
(NCUA), the federal agency that charters, supervises and insures</div>
<div style="font-family: Arial, Helvetica, sans-serif;">
federal credit unions. In this structure, take-over banks and credit<br />
unions can avoid U.S. banking laws and U.S. anti-trust hearings.</div>
<br />
<span style="font-style: italic;">The actual number of bank and credit union branch offices </span><br />
<span style="font-style: italic;">are not accounted for in this list. Listing in descending order.</span><span style="font-style: italic;"></span><br />
<br />
Courtesy of the <a href="http://ocnww.blogspot.com/" target="_blank">Online Consultancy Network</a>™<br />
<br />
==========================================<br />
<span style="color: #cc0000; font-size: 130%; font-style: italic;">Insolvent
Bank/Credit Union Name -
Closing Date</span><br />
==========================================<br />
<br />
<br />
<b><i>----------------- 2024</i></b><br />
<br />
<br />
<b><i>----------------- 2023</i></b><br />
<br />
<br />
Citizens Bank<b>-CLOSED</b>, Sac City, IA.,November 3, 2023<br />
Heartland Tri-State Bank,<b>-CLOSED</b>, Elkhart,KS.,July 28, 2023<br />
Yonkers Postal Employees Credit Union,<b>-CONSERVED</b>,Yonkers, NY.,July 28, 2023<br />
PacWest BanCorp <b>-CLOSED/MERG</b>,Huntington Beach,CA.July 25,2023<br />
First Republic Bank,<b>-CLOSED</b>, San Francisco, CA., May 1, 2023<br />
Signature Bridge Bank, <b>-CLOSED</b>, New York, NY., March 12, 2023<br />
Silicon Valley Bank,<b>-CLOSED</b>, Santa Clara, CA., March 10, 2023<br />
Silvergate Capital Bank,<b>-CLOSED</b>, La Jolla, CA.,March 10, 2023<br />
Inter-American Federal Credit Union,-<b>CLOSED</b>, Brooklyn, NY., March 8, 2023<br />
Valwood Park Federal Credit Union-<b>CONSERVED</b>, Carrollton, TX., January 20, 2023
<br />
<br />
<b><i>----------------- 2022</i></b><br />
<br />
<br />
Richmond City Employees Federal Credit Union-<b>CONSERVED</b>, Richmond, IN.,December 12, 2022<br />
O.F. Toalston Federal Credit Union -<b>CLOSED</b>, Logan, WV., Nov. 15, 2022<br />
Mingo County Education Federal Credit Union -<b>CLOSED</b>, Williamson, WV.,Nov. 15, 2022<br />
Mingo County Education Federal Credit Union-<b>CONSERVED</b>,Williamson, WV.,Oct. 7, 2022<br />
O.F. Toalston Federal Credit Union-<b>CONSERVED</b>, Logan, WV.,October. 7, 2022<br />
Paducah Teachers Federal Credit Union-<b>CONSERVED</b>, Paducah,KY.,September 30, 2022<br />
Empire Financial Federal Credit Union-<b>CLOSED</b>,New York, NY.,March 04,2022<br />
Pomona Postal Federal Credit Unio -<b>MERGED</b>, Pomona, CAJanurary 03, 2022<br />
<br />
<br />
<b><i>----------------- 2021</i></b><br />
<br />
<br />
Portsmouth Schools Federal Credit Union -<b>CLOSED</b>,Portsmouth,VA.,December 30, 2021<br />
Pomona Postal Federal Credit Union-<b>CONSERVED</b>,Pomona,CA., November 05, 2021<br />
CO Federal Credit Union -<b>CLOSED</b>, Charleston, SC., September 17, 2021<br />
Defense Logistics Federal Credit Union-<b>CLOSED</b>, Dover, NJ.,July 1, 2021<br />
Empire Financial Federal Credit Union-<b>CONSERVED</b>, Jackson, NJ, May 24, 2021<br />
Edinburg Teachers Credit Union-<b>CONSERVED</b>, Edinburg, TX.,March 26, 2021<br />
Indianapolis Newspaper Federal Credit Union-<b>CONSERVED</b>,Indianapolis, IN., Jan. 14, 2021<br />
C O Federal Credit Union-<b>CONSERVED</b>,Charleston, SC., January 5, 2021<br />
<br />
<br />
<b><i>----------------- 2020</i></b><br />
<br />
<br />
Almena State Bank, Almena, KS., October 23, 2020<br />
First City Bank of Florida, Fort Walton Beach, FL. October 16, 2020<br />
Southern Pine Credit Union - <b>CONSERVED</b>, Valdosta, GA., June 11, 2020<br />
IBEW Local Union 712 Federal Credit Union - <b>CLOSED</b>, Beaver, PA., May 29, 2020 <br />
The First State Bank, Barboursville, WV., April 3, 2020 <br />
Ericson State Bank, Ericson, NE., February 14, 2020 <br />
<br />
<br />
<b><i>----------------- 2019</i></b><br />
<br />
<br />
City National Bank of New Jersey, Newark, NJ., November 1, 2019<br />
Resolute Bank, Maumee, OH.,October 25, 2019<br />
Louisa Community Bank, Louisa, KY., October 25, 2019 <br />
The Enloe State Bank, Cooper, TX., May 31, 2019<br />
Municipal Credit Union - <b>Conserved</b>, New York, NY., May 17, 2019 <br />
Mid East Tennessee Community Credit Union - <b>Conserved</b>, Decatur, TN,. April 23, 2019 <br />
CBS Employees Federal Credit Union - <b>CLOSED</b>, Studio City, CA - March 29, 2019<br />
<br />
<br />
<b><i>----------------- 2018</i></b><br />
<br />
<br />
Radio, Television and Communication Federal Credit Union, Staten Island, NY., Oct. 12, 2018<br />
Melrose Credit Union, Briarwood, NY., August 31, 2018 <br />
Greater Christ Baptist Church Credit Union, Detroit, MI., July 31, 2018 <br />
Louisville Metro Police Officers Credit Union, Louisville, KY., June 29, 2018 <br />
Beverly Bus Garage Federal Credit Union - <b>Conserved</b>. Chicago, IL., March 14, 2018 <br />
First Jersey Credit Union, <b>CLOSED</b>, Wayne, NJ., Feb. 28, 2018<br />
Ukrainian Future Credit Union, - <b>Conserved</b>. Warren, MI., February 23, 2018 <br />
St. Elizabeth’s Credit Union, Chicago, IL., January 30, 2018<br />
<br />
<br />
<b><i>----------------- 2017</i></b><br />
<br />
<br />
Washington Federal Bank for Savings, Argonia, KS., December 15, 2017 <br />
Louisville Metro Police Officers Credit Union - <b>Conserved</b>, Louisville, KY.,Dec.15, 2017 <br />
Riverdale Credit Union - <b>CLOSED</b>, Selma, AL., December 4, 2017 <br />
New York State Employees - <b>CLOSED</b>, New York, NY., Oct. 27, 2017<br />
Farmers and Merchants State Bank, Argonia.IL., October 13, 2017 <br />
Shreveport Federal Credit Union, <b>CLOSED</b>, Shreveport, LA,. October 2, 2017 <br />
LOMTO Federal Credit Union - <b>Conserved</b>, Woodside, NY., June 26, 2017<br />
Citizens Community Credit Union - <b>Conserved,</b> Devils Lake, ND., June 23, 2017 <br />
Riverdale Credit Union - <b>Conserved</b>, Selma, AL., June 22, 2017 <br />
Fayette County Bank, Saint Elmo, IL., May 26, 2017 <br />
Guaranty Bank, (dba BestBank in Georgia & Michigan), Milwaukee, WI.,May 5, 2017 <br />
First NBC Bank, New Orleans, LA., April 28, 2017 <br />
Community United Federal Credit Union - Conserved, Waycross, GA., April 20, 2017 <br />
Shreveport Federal Credit Union- <b>Conserved</b>, LA., April 13, 2017 <br />
Valley State Credit Union, Saginaw, MI., March 31, 2017 <br />
Florida Conference AME Church Federal Credit Union,Tallahassee,FL.,March 17, 2017<br />
Proficio Bank, Cottonwood Heights, UT., March 3, 2017<br />
Melrose Credit Union - <b>Conserved</b>, Briarwood, NY., February 10, 2017 <br />
Seaway Bank and Trust Company, Chicago, IL., January 27, 2017<br />
Harvest Community Bank, Pennsville, NJ., January 13, 2017<br />
<br />
<br />
<b><i>----------------- 2016</i></b><br />
<br />
<br />
First African Baptist Church Federal Credit Union, Sharon Hill, PA.,Nov. 29, 2016 <br />
Valley State Employees Credit Union-<b>Conserved</b>, Saginaw, MI., Nov. 9, 2016 <br />
Allied Bank, Mulberry, AR., September 23, 2016<br />
The Woodbury Banking Company, Woodbury, GA., August 19, 2016 <br />
First CornerStone Bank, King of Prussia, PA., May 6, 2016 <br />
Trust Company Bank, Memphis, TN., April 29, 2016 <br />
Chester Upland School Employees Federal Credit Union, Chester, PA., April 5, 2016<br />
Cardozo Lodge Federal Credit Union, Bensalem, PA., April 5, 2016<br />
Electrical Inspectors Federal Credit Union, Bensalem, PA., April 5, 2016<br />
O P S EMP Federal Credit Union, Bensalem, PA., April 5, 2016<br />
Servco Federal Credit Union, Bensalem, PA., April 5, 2016<br />
Triangle Interests Service Center Federal Credit Union, Bensalem,PA., April 5, 2016 <br />
North Milwaukee State Bank, Milwaukee, WI., March 11, 2016 <br />
Education Associations Federal Credit Union, Washington, D.C., March 4, 2016 <br />
Mildred Mitchell-Bateman Hospital Federal Credit Union, Huntington, WI., Feb 24, 2016 <br />
CTK Credit Union, Milwaukee, WI., February 5, 2016 <br />
Cory Methodist Church Credit Union - <b>Conserved</b>, Cleveland, OH., February 4, 2016<br />
Montgomery County Credit Union, Dayton, OH., February 1, 2016 <br />
Clarkston Brandon Community Credit Union<b>-Conserved</b>, Clarkston, MI., January 13, 2016<br />
<br />
<br />
<b><i>----------------- 2015</i></b><br />
<br />
<br />
First Hawaiian Homes Federal Credit Union, Hoolehua, HI., December 29, 2015 <br />
Bethex Federal Credit Union, Bronx, NY., December 18, 2015 <br />
Greater Abyssinia Federal Credit Union, Cleveland, OH., December 1, 2015 <br />
Helping Other People Excel Federal Credit Union, Jackson, NJ.,Nov.20, 2015 <br />
Hometown National Bank, Longview, WA., October 2, 2015<br />
The Bank of Georgia, Peachtree City, GA., October 2, 2015<br />
SWC Credit Union, Tampa, FL., September 24, 2015 <br />
Montauk Credit Union - <b>Conserved</b>, New York, NY., Sept 18, 2015<br />
Bethex Federal Credit Union - <b>Conserved</b>, Bronx, NY., Sept 18, 2015 <br />
SCICAP Credit Union, Chariton, IA., August 28, 2015 <br />
New Bethel Federal Credit Union, Portsmouth, VA.,Aug 05, 2015 <br />
Lakeside Federal Credit Union, Hammond, IN., July 16, 2015<br />
Premier Bank, Denver, CO., July 10, 2015<br />
Trailblazer Federal Credit Union, Washington, PA., July 10, 2015<br />
Edgebrook Bank, Chicago, IL., May 8, 2015<br />
TLC Federal Credit Union, Tillamook, OR., April 30, 2015 <br />
Montgomery County Credit Union-<b>Conserved</b>, Dayton, OH., April 23, 2015<b></b> <br />
North Dade Community Development Federal Credit Union, Miami Gardens, FL., March 31, 2014 <br />
Doral Bank En Espanol, San Juan, Puerto Rico, February 27, 2015<br />
Capitol City Bank & Trust Company, Atlanta, GA., February 13, 2015 <br />
American Bakery Workers Federal Credit Union, Philadelphia, PA., Jan 30, 2015<br />
Highland Community Bank, Chicago, IL., January 23, 2015<br />
First National Bank of Crestview, Crestview, FL., January 16, 2015<br />
<br />
<br />
<b><i>----------------- 2014</i></b><br />
<br />
<br />
New Bethel Federal Credit Union, Portsmouth, VA., Dec. 23, 2014 <b>Cease and Desist Order</b><br />
Northern Star Bank, Mankato, MN., December 19, 2014 <br />
Health One Credit Union, Detroit, MI., December 12, 2014 <br />
Metropolitan Church of God Credit Union, Detroit, MI., Dec 3, 2014 <br />
Frontier Bank,FSB, DBA El Paseo Bank, Palm Desert, CA., Nov 7, 2014 <br />
National Republic Bank of Chicago, Chicago, IL., October 24, 2014 <br />
NBRS Financial, Rising Sun, MD., October 17, 2014 <br />
County & Municipal Employees Credit Union,Edinburg, TX., Oct.10,2014<br />
Republic Hose Employees Federal Credit Union, Youngstown,OH.,Sep 30, 2014 <br />
Louden Depot Community Credit Union. Fairfield, IA.,Sept. 05, 2014<br />
GreenChoice Bank, fsb, Chicago, IL., July 25, 2014 <br />
Eastside Commercial Bank, Conyers, GA., July 18, 2014<br />
IBEW Local 816 Federal Credit Union, Paducah, KY., July 10, 2014 <br />
The Freedom State Bank, Freedom, OK., June 27, 2014 <br />
Valley Bank, Fort Lauderdale, FL., June 20, 2014<br />
Valley Bank, Moline, IL., June 20, 2014 <br />
Slavie Federal Savings Bank, Bel Air, MD., May 30, 2014 <br />
Columbia Savings Bank, Cincinnati, OH., May 23, 2014<br />
Life Line Credit Union, Richmond, VA., May 23, 2014 <br />
AztecAmerica Bank, Berwyn, IL., May 16, 2014<br />
Health One Credit Union, Detroit, MI., May 16, 2014 <br />
Allendale County Bank, Fairfax, SC., April 25, 2014<br />
Vantage Point Bank, Horsham, PA., February 28, 2014<br />
Parsons Pittsburg Credit Union, Parsons, KS., March 21, 2014 <br />
Vantage Point Bank, Horsham, PA., February 28, 2014<br />
Millennium Bank, National Association, Sterling, VA., Feb. 28, 2014 <br />
St. Francis Campus Credit Union, Little Falls, MN., Feb. 14, 2014<br />
Syringa Bank, Boise, ID., January 31, 2014 <br />
Parsons Pittsburg Credit, Parsons, KS., January 24, 2014 <br />
The Bank of Union, El Reno, OK., January 24, 2014<br />
DuPage National Bank, West Chicago, IL., January 17, 2014<br />
<br />
<br />
<b><i>----------------- 2013</i></b> <br />
<br />
<br />
Texas Community Bank, The Woodlands, TX., December 13, 2013<br />
Bagumbayan Credit Union, Chicago, IL., December 12, 2013 <br />
Polish Combatants Credit Union, Bedford, OH., November 22, 2013 <br />
Mayfair Federal Credit Union, Bridesberg, PA., November 1, 2013<br />
Bank of Jackson County, Graceville, FL., October 30, 2013 <br />
First National Bank, Edinburg, TX., September 13, 2013<br />
The National Bank of El Paso, El Paso,TX., Sept.13, 2013<br />
The Community's Bank, Bridgeport, CT., September 13, 2013 <br />
Craftsman Credit Union, Detroit, MI., September 6, 2013 <br />
Sunrise Bank of Arizona, Phoenix, AZ., August 23, 2013<br />
Community South Bank, Parsons, TN., August 23, 2013 <br />
Bank of Wausau, Wausau, WI., August 9, 2013<br />
Community Bank of Cape Coral,Fort Myers, FL., August 2, 2013<br />
First Community Bank of Southwest Florida,Fort Myers,FL.,August 2, 2013<br />
Taupa Lithuanian Credit Union, Cleveland, OH., July 15, 2013 <br />
Ochsner Clinic Federal Credit Union, New Orleans, LA.,June 28, 2013<br />
PEF Federal Credit Union, Highland Heights, OH., June 21, 2013 <br />
Mountain National Bank, Sevierville, TN., June 7, 2013 <br />
1st Commerce Bank, North Las Vegas, NV., June 6, 2013 <br />
First Kingdom Community Credit Union of Selma, AL.,May 31, 2013<br />
Banks of Wisconsin/Bank of Kenosha, Kenosha, WI.,May 31, 2013 <br />
Electrical Workers#527 Federal Credit Union, Texas City, TX.,May 23,2013<br />
First Kingdom Community Federal Credit Union, Selma, AL.,May 16,2013 <br />
Central Arizona Bank, Scottsdale, AZ., May 14, 2013<br />
Sunrise Bank, Valdosta, GA., May 10, 2013<br />
Pisgah Community Bank, Asheville, NC., May 10, 2013 <br />
Lynrocten Federal Credit Union, Lynchburg, VA., May 3, 2013 <br />
Douglas County Bank, Douglasville, GA., April 26, 2013<br />
Parkway Bank, Lenoir, NC., April 26, 2013 <br />
Chipola Community Bank, Marianna, FL., April 19, 2013<br />
Heritage Bank of North Florida, Orange Park, FL., April 19, 2013<br />
First Federal Bank, Lexington, KY., April 19, 2013 <br />
Shiloh of Alexandria Federal Credit Union, Alexandria,VA.,April 12, 2013 <br />
Gold Canyon Bank, Gold Canyon, AZ., April 5, 2013 <br />
Pepsi Cola Federal Credit Union, Buena Park, CA., March 15, 2013<br />
I.C.E. Federal Credit Union, Inglewood, CA., March 15, 2013<br />
Frontier Bank, LaGrange, GA., March 8, 2013 <br />
Amez United Credit Union, Detroit, MI.,February 19, 2013 <br />
Covenant Bank, Chicago, IL., February 15, 2013 <br />
NCP Community Development Federal Credit Union, Norfolk,VA.,Feb 8, 2013 <br />
1st Regents Bank, Andover, MN., January 18, 2013 <br />
Westside Community Bank, <span face=""arial" , "helvetica" , sans-serif" style="font-size: xx-small;">University Place</span>, WA., January 11, 2013 <br />
New Covenant Missionary Baptist Church Credit Union, Milwaukee, WI Jan 7, 2013<br />
<br />
<br />
<b><i>----------------- 2012</i></b><br />
<br />
<br />
Chetco Federal Credit Union, Oregon & California, December 31, 2012<br />
(NCUA placed Chetco into conservatorship Sept. 23, 2011) <br />
Olean Tile Employees Federal Credit Union, Olean, NY, Dec 17, 2012 <br />
Community Bank of the Ozarks, Sunrise Beach, MO., December 14, 2012 <br />
G.I.C. Federal Credit Union, Euclid, OH., December 13, 2012 <br />
Border Lodge Credit Union, Derby Line, VT. November 29, 2012 <br />
Hometown Community Bank, Braselton, GA., November 16, 2012 <br />
Citizens First National Bank, Princeton, IL., November 2, 2012<br />
Heritage Bank of Florida, Lutz, FL., November 2, 2012 <br />
Women’s Southwest Federal Credit Union, Dallas, TX., Oct. 31, 2012 <br />
NOVA Bank, Berwyn, PA., October 26, 2012 <br />
Excel Bank, Sedalia, MO., October 19, 2012 <br />
First East Side Savings Bank, Tamarac, FL., October 19, 2012<br />
GulfSouth Private Bank, Destin, FL., October 19, 2012 <br />
First United Bank, Crete, IL., September 28, 2012<br />
El Paso’s Federal Credit Union, El Paso, TX., Sept. 28, 2012 <br />
Truman Bank, St. Louis, MO., September 14, 2012 <br />
First Commercial Bank, Bloomington, MN., September 7, 2012 <br />
United Catholic Credit Union, Temperance, MI., Aug 09, 2012 <br />
Waukegan Savings Bank, Waukegan, IL., August 3, 2012 <br />
Trinity Credit Union, Trinidad, CO., July 27, 2012<br />
Jasper Banking Company, Jasper, GA., July 27, 2012 <br />
Second Federal Savings and Loan Association, Chicago, IL., July 20, 2012 <br />
Heartland Bank, Leawood, KS., July 20, 2012 <br />
First Cherokee State Bank, Woodstock, GA., July 20, 2012<br />
Georgia Trust Bank, Buford, GA., July 20, 2012<br />
The Royal Palm Bank of Florida, Naples, FL., July 20, 2012 <br />
Glasgow Savings Bank, Glasgow, MO., July 13, 2012 <br />
Western Bridge Federal Credit Union, San Dimas, CA., July 6, 2012<br />
Montgomery Bank & Trust, Ailey, GA., July 6, 2012 <br />
The Farmers Bank of Lynchburg, Lynchburg, TN.,June 15,2012<br />
Security Exchange Bank, Marietta, GA., June 15,2012<br />
Putnam State Bank, Palatka, FL., June 15,2012 <br />
Waccamaw Bank, Whiteville, NC., June 8, 2012<br />
Farmers'and Traders'State Bank, Shabbona, IL.,June 8, 2012<br />
Carolina Federal Savings Bank, Charleston, SC., June 8, 2012<br />
First Capital Bank, Kingfisher, OK., June 8, 2012 <br />
USA One Credit Union, Matteson, IL., June 4, 2012 <br />
Wausau Postal Employees Credit Union, Wausau, WI., May 18, 2012 <br />
Alabama Trust Bank, National Association,Sylacauga, AL.,May 18, 2012 <br />
Security Bank, National Association, North Lauderdale, FL., May 04, 2012 <br />
Palm Desert National Bank, Palm Desert, CA., April 27, 2012 <br />
Plantation Federal Bank, Pawleys Island, SC., April 27, 2012<br />
Inter Savings Bank, FSB InterBank, Maple Grove, MN., April 27, 2012<br />
HarVest Bank of Maryland, Gaithersburg, MD., April 27, 2012<br />
Bank of the Eastern Shore, Cambridge, MD., April 27, 2012 <br />
Fort Lee Federal Savings Bank, Fort Lee, NJ., April 20, 2012 <br />
Fidelity Bank, Dearborn, MI., March 30, 2012<br />
Shepherd’s Federal Credit Union, Charlotte, NC., March 26, 2012 <br />
Saguache County Credit Union, Moffat, CO., March 23, 2012<br />
Telesis Community Credit Union, Chatsworth, CA., March 23, 2012<br />
Premier Bank, Wilmette, IL., March 23, 2012<br />
Covenant Bank & Trust, Rock Spring, GA., March 23, 2012 <br />
New City Bank, Chicago, IL., March 9, 2012 <br />
Global Commerce Bank, Doraville, GA., March 2, 2012 <br />
Home Savings of America, Little Falls, MN., February 24, 2012<br />
Central Bank of Georgia, Ellaville, GA., February 24, 2012 <br />
AM Community Credit Union, Kenosha, WI., February 17, 2012<br />
SCB Bank, Shelbyville, IN., February 10, 2012<br />
Charter National Bank and Trust, Hoffman Estates, IL., February 10, 2012<br />
Eastern New York Federal Credit Union, Napanoch, NY., January 27, 2012<br />
BankEast, Knoxville, TN., January 27, 2012<br />
Patriot Bank Minnesota, Forest Lake, MN., January 27, 2012<br />
Tennessee Commerce Bank, Franklin, TN., January 27, 2012<br />
First Guaranty Bank and Trust Company, Jacksonville, FL., Jan. 27, 2012<br />
American Eagle Savings Bank, Boothwyn, PA., January 20, 2012<br />
The First State Bank, Stockbridge, GA., January 20, 2012<br />
Central Florida State Bank, Belleview, FL., January 20, 2012<br />
People for People Community Development Credit Union,Philadelphia,PA., Jan., 6, 2012 <br />
<br />
<br />
<b><i>----------------- 2011</i></b> <br />
<br />
<br />
Western National Bank, Phoenix, AZ., December 16, 2011<br />
Premier Community Bank of the Emerald Coast, Crestview, FL., Dec.16, 2011 <br />
O.U.R. Federal Credit Union in Eugene, Ore., December 5, 2011<br />
BCT Federal Credit Union of Binghamton, N.Y., November 30, 2011 <br />
Central Progressive Bank, Lacombe, LA., November 18, 2011<br />
Polk County Bank, Johnston, IA., November 18, 2011 <br />
Community Bank of Rockmart, Rockmart, GA., November 10, 2011 <br />
SunFirst Bank, Saint George, UT., November 4, 2011<br />
Mid City Bank, Inc., Omaha, NE., November 4, 2011 <br />
All American Bank, Des Plaines, IL., October 28, 2011<br />
Birmingham Financial Federal Credit Union, Birmingham, AL., Oct.,27, 2011 <br />
Community Banks of Colorado, Greenwood Village, CO., Oct.,21, 2011<br />
Community Capital Bank, Jonesboro, GA., October 21, 2011<br />
Decatur First Bank, Decatur, GA., October 21, 2011<br />
Old Harbor Bank, Clearwater,FL., October 21, 2011 <br />
Country Bank, Aledo, IL., October 14, 2011<br />
First State Bank, Cranford, NJ., October 14, 2011<br />
Blue Ridge Savings Bank, Inc., Asheville, NC., Oct. 14, 2011<br />
Piedmont Community Bank, Gray, GA., October 14, 2011 <br />
Sun Security Bank, Ellington, MO., October 7, 2011<br />
The RiverBank, Wyoming, MN., October 7, 2011 <br />
First International Bank, Plano, TX., September 30, 2011<br />
Citizens Bank of Northern California, Nevada City, CA., Sept.23, 2011 <br />
Chetco Federal Credit Union, Harbor, OR., September 23, 2011<br />
Bank of the Commonwealth, Norfolk, VA., September 23, 2011 <br />
First National Bank of Florida, Milton, FL., September 9, 2011 <br />
CreekSide Bank, Woodstock, GA., September 2, 2011<br />
Patriot Bank of Georgia, Cumming, GA., September 2, 2011<br />
First Choice Bank, Geneva, IL., August 19, 2011<br />
First Southern National Bank, Statesboro, GA., August 19, 2011 <br />
Lydian Private Bank, Palm Beach, FL., August 19, 2011<br />
Public Savings Bank, Huntingdon Valley, PA., August 18, 2011<br />
The First National Bank of Olathe, Olathe, KS., August 12, 2011 <br />
Bank of Whitman, Colfax, WA., August 5, 2011<br />
Bank of Shorewood, Shorewood, IL., August 5, 2011 <br />
Integra Bank National Association, Evansville, IN., July 29, 2011 <br />
BankMeridian, N.A.. Columbia, SC., July 29, 2011<br />
Virginia Business Bank. Richmond. VA., July 29, 2011 <br />
Saguache County Credit Union, CO., July 22, 2011<br />
Bank of Choice, Greeley, CO., July 22, 2011<br />
LandMark Bank of Florida, Sarasota, FL., July 22, 2011<br />
Southshore Community Bank, Apollo Beach, FL., July 22, 2011 <br />
Summit Bank, Prescott, AZ., July 15, 2011 <br />
First Peoples Bank, Port St. Lucie, FL., July 15, 2011<br />
High Trust Bank, Stockbridge, GA., July 15, 2011<br />
One Georgia Bank, Atlanta, GA., July 15, 2011<br />
Vensure Federal Credit Union, Mesa, AZ., July 11, 2011 <br />
Signature Bank, Windsor, CO., July 8, 2011<br />
Colorado Capital Bank, Castle Rock, CO., July 8, 2011<br />
First Chicago Bank & Trust, Chicago, IL., July 8, 2011 <br />
O.U.R. Federal Credit Union, Eugene, OR., June 25, 2011 <br />
Borinquen Federal Credit Union, Philadelphia, PA., June 24, 2011 <br />
Mountain Heritage Bank, Clayton, GA., June 24, 2011 <br />
First Commercial Bank of Tampa Bay,Tampa,FL.,June 17, 2011<br />
McIntosh State Bank, Jackson, GA., June 17, 2011<br />
BCT Federal Credit Union, Binghamton, NY., June 10, 2011<br />
Atlantic Bank and Trust, Charleston, SC., June 3, 2011 <br />
First Heritage Bank,Snohomish, WA., May 27, 2011<br />
Summit Bank, Burlington, WA., May 20, 2011 <br />
First Georgia Banking Company, Franklin, GA., May 20, 2011<br />
Atlantic Southern Bank, Macon, GA., May 20, 2011 <br />
Coastal Bank, Cocoa Beach, FL., May 6, 2011<br />
Hmong American Federal Credit Union, St. Paul, MN., May 4, 2011<br />
Valued Members Federal Credit Union, Jackson, MS., May 4, 2011 <br />
Utah Central Credit Union, Salt Lake City, UT., April 29, 2011<br />
Community Central Bank, Mount Clemens, MI., April 29, 2011<br />
The Park Avenue Bank, Valdosta, GA.,April 29, 2011<br />
First Choice Community Bank, Dallas, GA., April 29, 2011<br />
Cortez Community Bank, Brooksville, FL., April 29, 2011<br />
First National Bank of Central Florida, Winter Park,FL.,April 29, 2011<br />
Texans Credit Union, Richardson, TX., April 15, 2011<br />
Vensure Federal Credit Union, Mesa, AZ., April 15, 2011 <br />
Heritage Banking Group, Carthage, MS., April 15, 2011<br />
Rosemount National Bank, Rosemount, MN., April 15, 2011<br />
Superior Bank, Birmingham, AL., April 15, 2011<br />
Nexity Bank, Birmingham, AL., April 15, 2011<br />
New Horizons Bank, East Ellijay, GA., April 15, 2011<br />
Bartow County Bank, Cartersville, GA., April 15, 2011 <br />
Mission San Francisco Federal Credit Union, San Francisco, CA.,April 8, 2011 <br />
Nevada Commerce Bank, Las Vegas, NV., April 8, 2011 <br />
Western Springs National Bank and Trust, Western Springs, IL., April 8, 2011 <br />
The Bank of Commerce, Wood Dale, IL., March 25, 2011<br />
Legacy Bank, Milwaukee, WI., March 11, 2011<br />
First National Bank of Davis, Davis, OK., March 11, 2011 <br />
Land of Enchantment Federal Credit Union,Santa Fe, NM., March 7, 2011 <br />
Wisconsin Heights Credit Union, Ogema, WI., March 4, 2011 <br />
Valley Community Bank, St. Charles, IL., February 25, 2011 <br />
NYC OTB Federal Credit Union, New York, NY., February 23, 2011<br />
San Luis Trust Bank, FSB, San Luis Obispo, CA., February 18, 2011<br />
Charter Oak Bank, Napa, CA., February 18, 2011<br />
Citizens Bank of Effingham, Springfield, GA., February 18, 2011<br />
Habersham Bank, Clarkesville, GA., February 18, 2011<br />
Greensburg Community Federal Credit Union,Greensburg, PA,, Feb.17, 2011<br />
Family First Federal Credit Union, Orem, UT., February 15, 2011 <br />
Canyon National Bank, Palm Springs, CA., February 11, 2011 <br />
Badger State Bank, Cassville, WI., February 11, 2011<br />
Peoples State Bank, Hamtramck, MI., February 11, 2011<br />
Sunshine State Community Bank, Port Orange, FL., February 11, 2011<br />
Oakland Municipal Credit Union, Oakland, CA., February 4, 2011<br />
Community First Bank Chicago, Chicago, IL.,February 4, 2011<br />
North Georgia Bank, Watkinsville, GA., February 4, 2011<br />
American Trust Bank, Roswell, GA., February 4, 2011 <br />
First Community Bank, Taos, NM., January 28, 2011<br />
FirsTier Bank, Louisville, CO., January 28, 2011<br />
Evergreen State Bank, Stoughton, WI., January 28, 2011<br />
The First State Bank, Camargo, OK., January 28, 2011 <br />
United Western Bank, Denver, CO., January 21, 2011<br />
Bank of Asheville, Asheville, NC., January 21, 2011<br />
CommunitySouth Bank & Trust, Easley, SC., January 21, 2011<br />
Enterprise Banking Company, McDonough, GA., January 21, 2011<br />
Oglethorpe Bank, Brunswick, GA., January 14, 2011<br />
Legacy Bank, Scottsdale, AZ., Jan. 7, 2011<br />
First Commercial Bank of Florida, Orlando, FL., Jan. 7, 2011 <br />
<br />
<br />
<i><b>------------- <span style="font-style: italic; font-weight: bold;">2010</span></b></i><br />
<i><b><span style="font-style: italic; font-weight: bold;"> </span></b></i> <br />
<br />
AEA Federal Credit Union, Yuma, AZ., December 17, 2010<br />
Community National Bank, Lino Lakes, MN., December 17, 2010<br />
First Southern Bank, Batesville, AR., December 17, 2010 <br />
United Americas Bank, N.A., Atlanta, GA., December 17, 2010 <br />
Appalachian Community Bank, FSB, McCaysville, GA., Dec. 17, 2010<br />
Chestatee State Bank, Dawsonville, GA., December 17, 2010<br />
The Bank of Miami,N.A., Coral Gables, FL., December 17, 2010 <br />
Beehive Credit Union, Salt Lake City, UT., December 14, 2010 <br />
Earthstar Bank, Southampton, PA., December 10, 2010<br />
Paramount Bank, Farmington Hills, MI., December 10, 2010<br />
Constitution Corporate Federal Credit Union, Wallingford, CT., Nov.19,2010 <br />
First Banking Center, Burlington, WI., November 19, 2010 <br />
Allegiance Bank of North America, Bala Cynwyd, PA., Nov. 19, 2010 <br />
Gulf State Community Bank, Carrabelle, FL., November 19, 2010<br />
Copper Star Bank, Scottsdale, AZ., November 12, 2010 <br />
Darby Bank & Trust Co., Vidalia, GA., November 12, 2010<br />
Tifton Banking Company, Tifton, GA., November 12, 2010 <br />
First Vietnamese American Bank, Westminster, CA., November 5, 2010<br />
Pierce Commercial Bank, Tacoma, WA., November 5, 2010<br />
Western Commercial Bank, Woodland Hills, CA., November 5, 2010 <br />
K Bank, Randallstown, MD., November 5, 2010 <br />
Union Credit Union, Spokane, WA., October 29, 2010 <br />
First Arizona Savings, A FSB, Scottsdale, AZ., Oct.22, 2010<br />
Hillcrest Bank, Overland Park, KS., October 22, 2010<br />
First Suburban National Bank, Maywood, IL., October 22, 2010<br />
The First National Bank of Barnesville, Barnesville, GA., Oct. 22, 2010<br />
The Gordon Bank, Gordon, GA., October 22, 2010<br />
Progress Bank of Florida, Tampa, FL., October 22, 2010<br />
First Bank of Jacksonville, Jacksonville, FL., October 22, 2010<br />
Phil-Pet Federal Credit Union, Pampa, TX.,October 21, 2010<br />
Premier Bank, Jefferson City, MO., October 15, 2010<br />
WestBridge Bank and Trust Company, Chesterfield, MO., Oct. 15, 2010<br />
Security Savings Bank, F.S.B., Olathe, KS., October 15, 2010 <br />
Shoreline Bank, Shoreline, WA., October 1, 2010<br />
Wakulla Bank, Crawfordville, FL., October 1, 2010 <br />
North County Bank, Arlington, WA., September 24, 2010<br />
Members United Corporate Federal Credit Union, Warrenville, IL., Sept. 24, 2010<br />
Southwest Corporate Federal Credit Union, Plano, TX, Sept. 24, 2010<br />
Constitution Corporate Federal Credit Union, Wallingford, CT.,Sept. 24, 2010<br />
Haven Trust Bank Florida, Ponte Vedra Beach, FL., September 24, 2010<br />
Maritime Savings Bank, West Allis, WI., September 17, 2010<br />
Bramble Savings Bank, Milford, OH., September 17, 2010<br />
The Peoples Bank, Winder, GA., September 17, 2010<br />
First Commerce Community Bank, Douglasville, GA., Sept.17, 2010<br />
Bank of Ellijay, Ellijay, GA., September 17, 2010<br />
ISN Bank, Cherry Hill, NJ., September 17, 2010<br />
Industries Puerto Rico Federal Credit Union,Manati,Puerto Rico, Sept. 13, 2010<br />
Horizon Bank, Bradenton, FL., September 10, 2010<br />
First American Credit Union, Parchment, MI., Sept. 1, 2010<br />
Sonoma Valley Bank, Sonoma, CA., August 20, 2010<br />
Los Padres Bank, Solvang, CA., August 20, 2010<br />
Butte Community Bank, Chico, CA., August 20, 2010<br />
Pacific State Bank, Stockton, CA., August 20, 2010<br />
ShoreBank, Chicago, IL., August 20, 2010<br />
Imperial Savings and Loan Association, Martinsville, VA., Aug 20, 2010<br />
Independent National Bank, Ocala, FL., August 20, 2010<br />
Community National Bank, Bartow, FL., August 20, 2010<br />
Palos Bank and Trust Company, Palos Heights, IL., August 13, 2010<br />
Ravenswood Bank, Chicago, IL., August 6, 2010<br />
Kappa Alpha Psi Federal Credit Union, Addison, TX., August 3, 2010<br />
Certified Federal Credit Union, Commerce, CA., July 31,2010<br />
Family First Federal Credit Union, Utah County, UT.,July 30, 2010<br />
LibertyBank, Eugene, OR., July 30, 2010<br />
The Cowlitz Bank, Longview, WA., July 30, 2010<br />
Coastal Community Bank, Panama City Beach, FL., July 30, 2010<br />
Bayside Savings Bank, Port Sainte Joe, FL., July 30, 2010<br />
Northwest Bank & Trust, Acworth, GA., July 30, 2010<br />
Norbel Credit Union, San Antonio, TX., July 29, 2010<br />
Home Valley Bank, Cave Junction, OR., July 23, 2010<br />
SouthwestUSA Bank, Las Vegas, NV., July 23, 2010<br />
Community Security Bank, New Prague, MN., July 23, 2010<br />
Thunder Bank, Sylvan Grove, KS., July 23, 2010<br />
Williamsburg First National Bank, Kingstree, SC., July 23, 2010<br />
Crescent Bank and Trust Company, Jasper, GA., July 23, 2010<br />
Sterling Bank, Lantana, FL., July 23, 2010<br />
Mainstreet Savings Bank, FSB, Hastings, MI., July 16, 2010<br />
Olde Cypress Community Bank, Clewiston, FL., July 16, 2010<br />
Turnberry Bank, Aventura, FL., July 16, 2010<br />
Metro Bank of Dade County, Miami, FL., July 16, 2010<br />
First National Bank of the South, Spartanburg, SC., July 16, 2010<br />
Woodlands Bank, Bluffton, SC., July 16, 2010<br />
Home National Bank, Blackwell, OK., July 9, 2010<br />
USA Bank, Port Chester, NY., July 9, 2010<br />
Ideal Federal Savings Bank, Baltimore, MD., July 9, 2010<br />
Bay National Bank, Baltimore, MD., July 9, 2010<br />
First Delta Federal Credit Union, Marks, MISS.,June 30, 2010<br />
Southwest Community Federal Credit Union, Saint George, UT., June 30, 2010<br />
Arrowhead Central Credit Union, San Bernardino, CA., June 25, 2010<br />
High Desert State Bank, Alburquerque, NM., June 25, 2010<br />
First National Bank, Savannah, GA., June 25, 2010<br />
Peninsula Bank, Englewood, FL., June 25, 2010<br />
Nevada Security Bank, Reno, NV., June 18, 2010<br />
Washington First International Bank, Seattle, WA., June 11, 2010<br />
Orange County Employees Credit Union, Orange, TX., June 9, 2010<br />
TierOne Bank, Lincoln, NE., June 4, 2010<br />
Arcola Homestead Savings Bank, Arcola, IL., June 4, 2010<br />
First National Bank, Rosedale, MS., June 4, 2010<br />
Sun West Bank, Las Vegas, NV., May 28, 2010<br />
Granite Community Bank, NA. Granite Bay, CA., May 28, 2010<br />
Bank of Florida - Tampa, Tampa, FL., May 28, 2010<br />
Bank of Florida - Southwest, Naples, FL., May 28, 2010<br />
Bank of Florida - Southeast, Fort Lauderdale, FL., May 28, 2010<br />
Pinehurst Bank, Saint Paul, MN., May 21, 2010<br />
Convent Federal Credit Union, New York, N.Y.,May 17, 2010<br />
Midwest Bank and Trust Company, Elmwood Park, IL., May 14, 2010<br />
Southwest Community Bank, Springfield, MO., May 14, 2010<br />
New Liberty Bank, Plymouth, MI., May 14, 2010<br />
Satilla Community Bank, Saint Marys, GA., May 14, 2010<br />
1st Pacific Bank of California, San Diego, CA., May 7, 2010<br />
Towne Bank of Arizona, Mesa, AZ., May 7, 2010<br />
Access Bank, Champlin, MN., May 7, 2010<br />
Bank of Bonifay, Bonifay, FL., May 7, 2010<br />
Frontier Bank, Everett, WA., April 30, 2010<br />
BC National Banks, Butler, MO., April 30, 2010<br />
Champion Bank, Creve Coeur, MO., April 30, 2010<br />
CF Bancorp, Port Huron, MI., April 30, 2010<br />
Westernbank Puerto Rico, Mayaguez, PR., April 30, 2010<br />
R-G Premier Bank of Puerto Rico, Hato Rey, PR., April 30, 2010<br />
Eurobank, San Juan, PR., April 30, 2010<br />
Tracy Federal Credit Union, Tracy, CA., April 27, 2010<br />
St. Paul Croatian Federal Credit Union, Eastlake, OH., April 23, 2010<br />
Wheatland Bank, Naperville, IL., April 23, 2010<br />
Peotone Bank and Trust Company, Peotone, IL., April 23, 2010<br />
Lincoln Park Savings Bank, Chicago, IL., April 23, 2010<br />
New Century Bank, Chicago, IL., April 23, 2010<br />
Citizens Bank and Trust Company of Chicago, Chicago, IL., April 23, 2010<br />
Broadway Bank, Chicago, IL., April 23, 2010<br />
Amcore Bank, National Association, Rockford, IL., April 23, 2010<br />
City Bank, Lynnwood, WA., April 16, 2010<br />
Tamalpais Bank, San Rafael, CA., April 16, 2010<br />
Innovative Bank, Oakland, CA., April 16, 2010<br />
Butler Bank, Lowell, MA., April 16, 2010<br />
Riverside National Bank of Florida, Fort Pierce, FL., April 16, 2010<br />
AmericanFirst Bank, Clermont, FL., April 16, 2010<br />
First Federal Bank of North Florida, Palatka, FL., April 16, 2010<br />
Lakeside Community Bank, Sterling Heights, MI., April 16, 2010<br />
Beach First National Bank, Myrtle Beach, SC., April 9, 2010<br />
South End Mutual Benefit Association, Bloomfield, CT, April 8, 2010<br />
Desert Hills Bank, Phoenix, AZ., March 26, 2010<br />
Unity National Bank, Cartersville, GA., March 26, 2010<br />
Key West Bank, Key West, FL., March 26, 2010<br />
McIntosh Commercial Bank, Carrollton, GA., March 26, 2010<br />
Tracy Federal Credit Union, Tracy, CA., March 24, 2010<br />
State Bank of Aurora, Aurora, MN., March 19, 2010<br />
First Lowndes Bank, Fort Deposit, AL., March 19, 2010<br />
Bank of Hiawassee, Hiawassee, GA., March 19, 2010<br />
Appalachian Community Bank, Ellijay, GA., March 19, 2010<br />
Advanta Bank Corp., Draper, UT., March 19, 2010<br />
Century Security Bank, Duluth, GA., March 19, 2010<br />
American National Bank, Parma, OH., March 19, 2010<br />
Statewide Bank, Covington, LA., March 12, 2010<br />
Old Southern Bank, Orlando, FL., March 12, 2010<br />
Park Avenue Bank, New York, NY., March 12, 2010<br />
Liberty Pointe Bank, New York, NY., March 11, 2010<br />
Lawrence County School Employees Federal Credit Union, New Castle, PA., Mar. 5, 2010<br />
Centennial Bank, Ogden, UT., March 5, 2010<br />
Waterfield Bank, Germantown, MD., March 5, 2010<br />
Bank of Illinois, Normal, IL., March 5, 2010<br />
Sun American Bank, Boca Raton, FL., March 5, 2010<br />
Mutual Diversified Employees Federal Credit Union, Santa Ana, CA., Feb. 26, 2010<br />
Friendship Community Federal Credit Union, Clarksdale, Miss.,Feb. 25th, 2010<br />
Rainier Pacific Bank, Tacoma, WA., February 26, 2010<br />
Carson River Community Bank, Carson City, NV., Feb. 26, 2010<br />
La Jolla Bank, FSB, La Jolla, CA., February 19, 2010<br />
George Washington Savings Bank, Orland Park, IL., Feb. 19, 2010<br />
La Coste National Bank, La Coste, TX., February 19, 2010<br />
Marco Community Bank, Marco Island, FL., February 19, 2010<br />
Mountain High Credit Union, Provo, UT., February 8th, 2010<br />
Premium Capital Funding, LLC, Jericho, NY., February 5, 2010<br />
TopDot Mortgage, Jericho, NY., February 5, 2010<br />
1st American State Bank of Minnesota, Hancock, MN., Feb. 5, 2010<br />
American Marine Bank, Bainbridge Island, WA., January 29, 2010<br />
First Regional Bank, Century City, CA., January 29, 2010<br />
Community Bank and Trust, Cornelia, GA., January 29, 2010<br />
Marshall Bank, N.A., Hallock, MN., January 29, 2010<br />
Florida Community Bank, Immokalee, FL., January 29, 2010<br />
First National Bank of Georgia, Carrollton, GA., Jan. 29, 2010<br />
Columbia River Bank, The Dalles, OR., January 22, 2010<br />
Evergreen Bank, Seattle, WA., January 22, 2010<br />
Charter Bank, Santa Fe, NM., January 22, 2010<br />
Bank of Leeton, Leeton, MO., January 22, 2010<br />
Premier American Bank, Miami, FL., January 22, 2010<br />
Barnes Banking Company, Kaysville, UT., January 15, 2010<br />
St. Stephen State Bank, St. Stephen, MN., January 15, 2010<br />
Town Community Bank & Trust, Antioch, IL., January 15, 2010<br />
Horizon Bank, Bellingham, WA., January 8, 2010<br />
Kern Central Credit Union, Bakersfield, CA., January 8, 2010<br />
<br />
<i><b><br /><span style="font-style: italic; font-weight: bold;"></span></b></i>
<i><b>------------- <span style="font-style: italic; font-weight: bold;">2009</span></b></i><br />
<i><b><br /><span style="font-style: italic; font-weight: bold;"></span></b></i>
<br />
<br />
HeritageWest Federal Credit Union, Tooele, UT., December 31, 2009 <br />
First Federal Bank of California, F.S.B., Santa Monica, CA., Dec 18, 2009<br />
Imperial Capital Bank, La Jolla, CA., December 18, 2009<br />
Independent Bankers' Bank, Springfield, IL., December 18, 2009<br />
New South Federal Savings Bank, Irondale, AL., December 18, 2009<br />
Citizens State Bank, New Baltimore, MI., December 18, 2009<br />
Peoples First Community Bank, Panama City, FL., Dec. 18, 2009<br />
RockBridge Commercial Bank, Atlanta, GA., December 18, 2009<br />
SolutionsBank, Overland Park, KS., December 11, 2009<br />
Valley Capital Bank, N.A., Mesa, AZ., December 11, 2009<br />
Republic Federal Bank, N.A., Miami, FL., December 11, 2009<br />
Greater Atlantic Bank, Reston, VA., December 4, 2009<br />
Benchmark Bank,Aurora, IL., December 4, 2009<br />
AmTrust Bank, Cleveland, OH., December 4, 2009<br />
The Tattnall Bank, Reidsville, GA., December 4, 2009<br />
First Security National Bank, Norcross, GA., December 4, 2009<br />
The Buckhead Community Bank, Atlanta, GA., December 4, 2009<br />
Commerce Bank of Southwest Florida, Fort Myers, FL. Nov. 20, 200<br />
Ensign Federal Credit Union, Henderson, NV., November 13, 2009<br />
Pacific Coast National Bank, San Clemente, CA., November 13, 2009<br />
New South Federal Savings Bank, Lending Division, Birmingham, AL., Nov. 13, 2009<br />
Orion Bank, Naples, FL., November 13, 2009<br />
Century Bank, F.S.B. Sarasota, FL., November 13, 2009<br />
Fairfield County Ohio Federal Employees Federal Credit Union,Lancaster,OH.,Nov30,2009 <br />
United Commercial Bank, San Francisco, CA., November 6, 2009<br />
Gateway Bank of St. Louis, St. Louis, MO., November 6, 2009<br />
Prosperan Bank, Oakdale, MN., November 6, 2009<br />
Home Federal Savings Bank, Detroit, MI., November 6, 2009<br />
United Security Bank, Sparta, GA., November 6, 2009<br />
AME Financial Corp, Alpharetta, GA., November 03, 2009<br />
North Houston Bank, Houston, TX., October 30, 2009<br />
Second Baptist Church Credit Union, Los Angeles, CA., Oct. 29, 2009<br />
Madisonville State Bank, Madisonville, TX., October 30, 2009<br />
Citizens National Bank, Teague, TX., October 30, 2009<br />
Park National Bank, Chicago, IL., October 30, 2009<br />
Pacific National Bank, San Francisco, CA., October 30, 2009<br />
California National Bank, Los Angeles, CA., October 30, 2009<br />
San Diego National Bank, San Diego, CA., October 30, 2009<br />
Community Bank of Lemont, Lemont, IL., October 30, 2009<br />
Bank USA, N.A., Phoenix, AZ., October 30, 2009<br />
Prosperity Federal Credit Union, Rancho Domingue, CA., Oct. 29, 2009<br />
Cumorah Credit Union, Las Vegas, NV., October. 24, 2009<br />
First DuPage Bank, Westmont, IL., October 23, 2009<br />
First Midwest Bank, Itasca, IL., October 23, 2009<br />
Riverview Community Bank, Otsego, MN., October 23, 2009<br />
Bank of Elmwood, Racine, WI., October 23, 2009<br />
Flagship National Bank, Bradenton, FL., October 23, 2009<br />
Hillcrest Bank Florida, Naples, FL., October 23, 2009<br />
American United Bank, Lawrenceville, GA., October 23, 2009<br />
Partners Bank, Naples, FL., October 23, 2009<br />
San Joaquin Bank, Bakersfield, CA., October 16, 2009<br />
Southern Colorado National Bank, Pueblo, CO., Oct. 2, 2009<br />
West Texas Credit Union, El Paso, TX., October 2, 2009<br />
Jennings State Bank, Spring Grove, MN., October 2, 2009<br />
Warren Bank, Warren, MI., October 2, 2009<br />
Member’s Own Federal Credit Union, Victorville, CA., Sept. 30,2009 <br />
Georgian Bank, Atlanta, GA., September 25, 2009<br />
Clearstar Financial Credit Union, Reno, NV., September 25, 2009<br />
Keys Federal Credit Union, Key West, FL., September 25, 2009<br />
Comunidades Federal Credit Union, Los Angeles, CA., Sept. 22, 2009 <br />
Irwin Union Bank, F.S.B., Louisville, KY., September 18, 2009<br />
Irwin Union Bank and Trust Company, Columbus, IN., Sept. 18, 2009<br />
Venture Bank, Lacey, WA., September 11, 2009<br />
Brickwell Community Bank, Woodbury, MN., Sept. 11, 2009<br />
Corus Bank, N.A., Chicago, IL., September 11, 2009<br />
First State Bank, Flagstaff, AZ., September 4, 2009<br />
Platinum Community Bank, Rolling Meadows, IL., Sept. 4, 2009<br />
Vantus Bank, Sioux City, IA., September 4, 2009<br />
InBank, Oak Forest, IL., September 4, 2009<br />
First Bank of Kansas City, Kansas City, MO., Sept. 4, 2009<br />
Kaiser Lakeside Credit Union, Oakland, CA., August 31, 2009 <br />
Affinity Bank, Ventura, CA., August 28, 2009<br />
Mainstreet Bank, Forest Lake, MN., August 28, 2009<br />
Bradford Bank, Baltimore, MD., August 28, 2009<br />
Free Choice Federal Credit Union, Feasterville, PA., Aug. 28, 2009<br />
Guaranty Bank, Austin, TX., August 21, 2009<br />
CapitalSouth Bank, Birmingham, AL., August 21, 2009<br />
First Coweta Bank, Newnan, GA., August 21, 2009<br />
ebank, Atlanta, GA., August 21, 2009<br />
Community Bank of Nevada, Las Vegas, NV., August 14, 2009<br />
Community Bank of Arizona, Phoenix, AZ., August 14, 2009<br />
Union Bank, National Association, Gilbert, AZ., August 14, 2009<br />
Colonial Bank, Montgomery, AL., August 14, 2009<br />
Dwelling House Savings and Loan Association, Pittsburgh, PA., Aug. 14, 2009<br />
Community One FCU Las Vegas, NV., August 12, 2009<br />
Community First Bank, Prineville, OR., August 7, 2009<br />
Community National Bank of Sarasota County, Venice, FL., Aug. 7, 2009<br />
First State Bank, Sarasota, FL, August 7, 2009<br />
Mutual Savings Credit Union, Birmingham, AL., August 6, 2009<br />
Mutual Bank, Harvey, IL July 31, 2009<br />
First BankAmericano, Elizabeth, NJ July 31, 2009<br />
Peoples Community Bank, West Chester, OH July 31, 2009<br />
Integrity Bank, Jupiter, FL July 31, 2009<br />
First State Bank of Altus, Altus, OK July 31, 2009<br />
U.S. Central Federal Credit Union, Lenexa, KS., July 24, 2009<br />
Western Corporate Federal Credit Union, San Dimas, CA.,July 24, 2009<br />
Security Bank of Jones County, Gray, GA July 24, 2009<br />
Security Bank of Houston County, Perry, GA July 24, 2009<br />
Security Bank of Bibb County, Macon, GA July 24, 2009<br />
Security Bank of North Metro, Woodstock, GA July 24, 2009<br />
Security Bank of North Fulton, Alpharetta, GA July 24, 2009<br />
Security Bank of Gwinnett County, Suwanee, GA July 24, 2009<br />
Waterford Village Bank, Williamsville, NY July 24, 2009<br />
New Hope Community Development Federal Credit Union, Birmingham, AL., July 22, 2009<br />
Temecula Valley Bank, Temecula, CA July 17, 2009<br />
Vineyard Bank, Rancho Cucamonga, CA July 17, 2009<br />
BankFirst, Sioux Falls, SD July 17, 2009<br />
First Piedmont Bank, Winder, GA July 17, 2009<br />
Watts Credit Union, Los Angeles,CA, July 14, 2009<br />
Bank of Wyoming, Thermopolis, WY July 10, 2009<br />
Founders Bank, Worth IL July 2, 2009<br />
Millennium State Bank of Texas, Dallas TX July 2, 2009<br />
First National Bank of Danville, Danville IL July 2, 2009<br />
Elizabeth State Bank, Elizabeth IL July 2, 2009<br />
Rock River Bank, Oregon IL July 2, 2009<br />
First State Bank of Winchester, Winchester IL July 2, 2009<br />
John Warner Bank, Clinton IL July 2, 2009<br />
Mirae Bank, Los Angeles, CA June 26, 2009<br />
Metro Pacific Bank, Irvine, CA June 26, 2009<br />
Horizon Bank, Pine City, MN June 26, 2009<br />
Neighborhood Community Bank, Newnan, GA June 26, 2009<br />
Community Bank of West Georgia, Villa Rica, GA June 26, 2009<br />
First National Bank of Anthony, Anthony, KS June 19, 2009<br />
Cooperative Bank, Wilmington, NC June 19, 2009<br />
Southern Community Bank, Fayetteville, GA June 19, 2009<br />
High Desert FCU, Apple Valley, CA., June 18, 2009 <br />
Bank of Lincolnwood, Lincolnwood, IL June 5, 2009<br />
Citizens National Bank, Macomb, IL May 22 2009<br />
Strategic Capital Bank, Champaign, IL May 22 2009<br />
BankUnited Financial, Coral Gables, FL, May 21, 2009<br />
Rouge Employees Credit Union, Dearborn, MI., May 15, 2009<br />
Westsound Bank, Bremerton, WA May 8, 2009<br />
America West Bank, Layton, UT May 1, 2009<br />
Citizens Community Bank, Ridgewood, NJ May 1, 2009<br />
Silverton Bank, N.A., Atlanta, GA May 1, 2009<br />
Eastern Financial Florida Credit Union, Miramar, FL, April 24, 2009<br />
First Bank of Idaho, Ketchum, ID April 24, 2009<br />
First Bank of Beverly Hills, Calabasas, CA April 24, 2009<br />
Heritage Bank, Farmington Hills, MI April 24, 2009<br />
American Southern Bank, Kennesaw, GA April 24, 2009<br />
Great Basin Bank of Nevada, Elko, NV April 17, 2009<br />
American Sterling Bank, Sugar Creek, MO April 17, 2009<br />
Cooperative Bank, Wilmington, NC., April 10, 2009<br />
New Frontier Bank, Greeley, CO April 10, 2009<br />
Cape Fear Bank, Wilmington, NC April 10, 2009<br />
Omni National Bank, Atlanta, GA March 27, 2009<br />
U.S. Central Federal Credit Union, Lenexa, Kansas, March 20, 2009<br />
TeamBank, National Association, Paola, KS March 20, 2009<br />
Colorado National Bank, Colorado Springs, CO March 20, 2009<br />
Western Corporate Federal Credit Union, San Dimas, CA, Mar. 20, 2009<br />
FirstCity Bank, Stockbridge, GA March 20, 2009<br />
Freedom Bank of Georgia, Commerce, GA March 6, 2009<br />
Security Savings Bank, Henderson, NV February 27, 2009<br />
Heritage Community Bank, Glenwood, IL February 27, 2009<br />
Bank of Antigua, Caribbean Island, February 20, 2009<br />
Silver Falls Bank, Silverton, OR February 20, 2009<br />
Center Valley Federal Credit Union, Wheeling, WV., Feb. 13, 2009<br />
Pinnacle Bank of Oregon, Beaverton, OR February 13, 2009<br />
Corn Belt Bank and Trust Company, Pittsfield, IL Feb. 13, 2009<br />
Riverside Bank of the Gulf Coast, Cape Coral, FL Feb. 13, 2009<br />
Sherman County Bank, Loup City, NE February 13, 2009<br />
County Bank, Merced, CA February 6, 2009<br />
Alliance Bank, Culver City, CA February 6, 2009<br />
FirstBank Financial Services, McDonough, GA Feb. 6, 2009<br />
Ocala National Bank, Ocala, FL January 30, 2009<br />
Suburban Federal Savings Bank, Crofton, MD Jan. 30, 2009<br />
MagnetBank, Salt Lake City, UT January 30, 2009<br />
1st Centennial Bank, Redlands, CA January 23, 2009<br />
Bank of Clark County, Vancouver, WA January 16, 2009<br />
National Bank of Commerce, Berkeley, IL January 16, 2009<br />
<br />
<i><b><br /><span style="font-style: italic; font-weight: bold;"></span></b></i>
<i><b>------------- <span style="font-style: italic; font-weight: bold;">2008</span></b></i><br />
<i><b><br /><span style="font-style: italic; font-weight: bold;"></span></b></i>
<br />
<br />
Sanderson State Bank, Sanderson, TX December 12, 2008<br />
Haven Trust Bank, Duluth, GA December 12, 2008<br />
West Hartford Credit Union, West Hartford, CT, Dec. 5th, 2008<br />
First Georgia Community Bank, Jackson, GA Dec. 5, 2008<br />
PFF Bank and Trust, Pomona, CA November 21, 2008<br />
Downey Savings and Loan, Newport Beach, CA Nov. 21, 2008<br />
The Community Bank, Loganville, GA November 21, 2008<br />
Security Pacific Bank, Los Angeles, CA November 7, 2008<br />
Franklin Bank, SSB, Houston, TX November 7, 2008<br />
Freedom Bank, Bradenton, FL October 31, 2008<br />
Alpha Bank & Trust, Alpharetta, GA October 24, 2008<br />
High Desert Federal Credit Union, Apple Valley, CA, Oct. 16, 2008<br />
Meridian Bank, Eldred, IL October 10, 2008<br />
Main Street Bank, Northville, MI October 10, 2008<br />
N&W Poca Division Federal Credit Union of Bluefield, W. VA, Oct. 3, 2008<br />
TEXDOT-WF Credit Union, TX, September 30, 2008<br />
Washington Mutual Bank, Henderson, NV and<br />
Washington Mutual Bank FSB, Park City, UT September 25, 2008<br />
Ameribank, Northfork, WV September 19, 2008<br />
Interfaith Federal Credit Union, East Orange, N.J., Sept. 16, 2008<br />
Silver State Bank, Henderson, NV September 5, 2008<br />
The Valley Credit Union, San Jose, CA, September 3, 2008<br />
Integrity Bank, Alpharetta, GA August 29, 2008<br />
The Columbian Bank and Trust, Topeka, KS August 22, 2008<br />
Port Trust Federal Credit Union, North Charleston, S.C., Aug. 8, 2008<br />
Sterlent Credit Union, Pleasanton, CA, August 8, 2008<br />
First Priority Bank, Bradenton, FL August 1, 2008<br />
New London Security FCU, New London, CT., July 28, 2008<br />
First Heritage Bank, NA, Newport Beach, CA July 25, 2008<br />
First National Bank of Nevada, Reno, NV July 25, 2008<br />
Meriden F.A. Federal Credit Union, Meriden, CT., July 16, 2008<br />
IndyMac Bank, Pasadena, CA July 11, 2008<br />
First Integrity Bank, NA, Staples, MN May 30, 2008<br />
Father Burke Federal Credit Union, Bronx, NY., May 12, 2008<br />
ANB Financial, NA, Bentonville, AR May 9, 2008<br />
Cal State 9 Credit Union, San Jose, CA., May 8, 2008<br />
St. Luke Baptist Federal Credit Union, Laurelton, NY., May 3, 2008<br />
Hume Bank, Hume, MO March 7, 2008<br />
Douglass National Bank, Kansas City, MO January 25, 2008<br />
Miami Valley Bank, Lakeview, OH October 4, 2007<br />
Huron River Credit Union, Ann Arbor, MI., January 19, 2008<br />
Green Tree Federal Credit Union, January 19, 2008<br />
Sharebuilders Federal Credit Union, January 19, 2008<br />
Norlarco Credit Union, Ft. Collins, CO., January 19, 2008<br />
<br />
<i><b>------------- <span style="font-style: italic; font-weight: bold;">2007</span></b></i><br />
<br />
NetBank, Alpharetta, GA September 28, 2007<br />
Metropolitan Savings Bank, Pittsburgh, PA February 2, 2007<br />
<br />
<i><b>------------- <span style="font-style: italic; font-weight: bold;">2004</span></b></i><br />
<br />
Bank of Ephraim, Ephraim, UT June 25, 2004<br />
Reliance Bank, White Plains, NY March 19, 2004<br />
Guaranty National Bank of Tallahassee, Tallahassee, FL Mar. 12, 2004<br />
Dollar Savings Bank, Newark, NJ February 14, 2004<br />
<br />
<i><b>------------- <span style="font-style: italic; font-weight: bold;">2003</span></b></i><br />
<br />
Pulaski Savings Bank, Philadelphia, PA November 14, 2003<br />
The First National Bank of Blanchardville,Blanchardville, WI May 9, 2003<br />
Southern Pacific Bank, Torrance, CA February 7, 2003<br />
<br />
<i><b>------------- <span style="font-style: italic; font-weight: bold;">2002</span></b></i><br />
<br />
The Farmers Bank of Cheneyville, Cheneyville, LA December 17, 2002<br />
The Bank of Alamo, Alamo, TN November 8, 2002<br />
AmTrade International Bank of Georgia, Atlanta, GA Sept. 30, 2002<br />
Universal Federal Savings Bank, Chicago, IL June 27, 2002<br />
Connecticut Bank of Commerce, Stamford, CT June 26, 2002<br />
New Century Bank, Shelby Township, MI March 28, 2002<br />
Net 1st National Bank, Boca Raton, FL March 1, 2002<br />
NextBank, N.A., Phoenix, AZ February 7, 2002<br />
Oakwood Deposit Bank Company, Oakwood, OH Feb. 1, 2002<br />
Bank of Sierra Blanca, Sierra Blanca, TX January 18, 2002<br />
Hamilton Bank, N.A., Miami, FL January 11, 2002<br />
<br />
<i><b>------------- <span style="font-style: italic; font-weight: bold;">2001</span></b></i><br />
<br />
Sinclair National Bank, Gravette, AR September 7, 2001<br />
Superior Bank, FSB, Hinsdale, IL July 27, 2001<br />
The Malta National Bank, Malta, OH May 3, 2001<br />
First Alliance Bank & Trust Company, Manchester, NH Feb. 2, 2001<br />
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<i><b>------------- <span style="font-style: italic; font-weight: bold;">2000</span></b></i><br />
<br />
National State Bank of Metropolis, Metropolis, IL Dec. 14, 2000<br />
Bank of Honolulu, Honolulu, HI October 13, 2000<br />
<br />
<i><b><br /><span style="font-style: italic; font-weight: bold;"></span></b></i>
<br />
The Bank Failure List is updated the day any bank or credit union is
reported as closed in the United States of America. This is a voluntary
service of the Online Consultancy Network™. We feel we have a personal
responsibility to educate business owners and the public of changing
economic conditions.<br />
<br />
<span style="font-size: medium; font-style: italic;">Below are some additional resources for your consideration.</span><br />
<br />
<span style="font-style: italic; font-weight: bold;">To see the current posted list of failed banks, visit:</span><br />
<a href="http://www.fdic.gov/bank/individual/failed/banklist.html">http://www.fdic.gov/bank/individual/failed/banklist.html</a><br />
<br />
<span style="font-style: italic; font-weight: bold;">To check your Bank or Credit Union's rating, visit:</span><br />
<a href="http://www.bauerfinancial.com/ratings.html">http://www.bauerfinancial.com/ratings.html</a><br />
<br />
<span style="font-weight: bold;">Interactive State Map from BankInfoSecurity.com</span><br />
Map of failed banks and credit unions in the U.S.:<br />
<a href="http://www.bankinfosecurity.com/articles.php?art_id=1681">http://www.bankinfosecurity.com/articles.php?art_id=1681</a><br />
<br />
<span style="font-weight: bold;">National Credit Union Administration (NCUA):</span><br />
<a href="http://www.ncua.gov/News/Pages/AllNewsSummary.aspx" target="_blank">http://www.ncua.gov/ </a><br />
<br />
<br />
<span style="font-weight: bold;">Credit Union Times</span><br />
<a href="http://www.cutimes.com/">http://www.cutimes.com/</a><br />
<br />
<span style="font-weight: bold;">BankImplode.com</span><br />
<a href="http://bankimplode.com/">http://bankimplode.com/</a><br />
<a href="http://ml-implode.com/#lists">http://ml-implode.com/#lists</a><br />
<br />
<span style="font-weight: bold;">Online Consultancy Network™ Bank Failure List</span><br />
<a href="http://ocnww.blogspot.com/2011/01/bank-failure-list-updated-january-28.html">http://ocnww.blogspot.com/2011/01/bank-failure-list-updated-january-28.html</a><br />
<br />
<br />
<div style="font-family: Arial, Helvetica, sans-serif;">
© Copyright 1999-2024, Online Consultancy Network™. All Rights Reserved.</div>
<div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com4tag:blogger.com,1999:blog-11562244.post-34654364339132599052017-01-04T13:36:00.002-08:002023-01-01T03:53:41.967-08:00Bank Failure List updated June 7, 2013<div style="color: #990000; font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;">Failed U.S. Banks and Credit Unions<br />
</span><span style="font-size: x-large;"></span></div>
<br />
<br />
<span style="font-size: large;"><b>For the most recent bank and credit union closures and conservatorships, read the most recent posting of Failed U.S. Banks and Credit Unions above. </b></span><br />
<br />
<br />
<span style="font-weight: bold;">Online Consultancy Network™ Bank Failure List</span><br />
<a href="http://ocnww.blogspot.com/2011/01/bank-failure-list-updated-january-28.html">http://ocnww.blogspot.com/2011/01/bank-failure-list-updated-january-28.html</a><br />
<br />
<div style="font-family: Arial,Helvetica,sans-serif;">
© Copyright 1999-2023, Online Consultancy Network™. All Rights Reserved.</div>
<div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com12tag:blogger.com,1999:blog-11562244.post-34616364712255553302011-01-18T12:25:00.002-08:002023-01-01T03:58:04.336-08:00Stock Market Update - Jan. 17, - Jan. 21, 2011 Mixed Economic Data Continues<div style="font-family: Arial,Helvetica,sans-serif;">
Stock Market Update</div>
<div style="font-family: Arial,Helvetica,sans-serif;">
Friday, Jan. 21, 2011<br />
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<i>This will be the last weekly column of the Stock Market Update for a while, as I take a break from the hectic writing and daily deadlines. I’ll still be writing occasionally. The best part of the column has always been hearing feedback from readers. I will continue to try to respond personally to every e-mail, and read all the comments posted here at the journal. </i></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Latest US Economic News Headlines:</span><br />
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<a href="http://ichart.finance.yahoo.com/instrument/1.0/%5EDJI/chart;range=1d/image;size=239x110" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="http://ichart.finance.yahoo.com/instrument/1.0/%5EDJI/chart;range=1d/image;size=239x110" /></a></div>
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<b>USA EQUITY INDEXES: (FRIDAY, JAN. 21; 4:00 PM EST)</b></div>
<i> </i><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b><i><span style="font-family: "times" , "times new roman" , serif;">.(Closing Index Numbers)</span></i></b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif;"><b>Dow Jones </b>11,871.84 <span style="color: #274e13;">+49.04 (+0.41%)</span><br />
<b>Nasdaq </b> 2,689.54 <span style="color: red;">-14.75 (-0.55%)</span><br />
<b>S&P 500</b> 1,283.35 <span style="color: #274e13;">+3.09 (+0.24%)</span></span><b><i><span style="font-family: "times" , "times new roman" , serif;"> </span></i></b></span><br />
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<b> </b><br />
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<b></b><br />
<b>Dow Jones 2:00 PM Averages: DJIA 11,877.63 UP 54.83</b><br />
30 INDUS 11,877.63 UP 54.83 OR 0.46%<br />
20 TRANSP 5,051.99 DN 28.83 OR 0.57%<br />
15 UTILS 413.22 DN 0.49 OR 0.12%<br />
65 STOCKS 4,088.06 UP 2.03 OR 0.05%</div>
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</span><br />
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<b>US COMMODITY PRICES:<i> </i>(FRIDAY, JAN. 21; 4:00 PM EST)</b></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Crude Oil 89.10 - 0.01%<br />
Natural Gas 4.72 - 0.30%<br />
Gasoline 2.46 +0.12%<br />
Heating Oil 2.66 + 0.37%<br />
Gold 1342.96 - 0.21%<br />
Silver 27.48 +0.12%<br />
Copper 4.30 + 0.8%</span><br />
<br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif;">US DOLLAR FUTURES INDEX DXY; FRIDAY, JAN. 21, 2011: </span></b><i><b><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span></b></i><br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="color: red;"><span style="color: black;">4:05PM EST: 78.49 <span style="color: red;">Down 0.33 (0.42%)</span> <br />
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; font-family: Arial,Helvetica,sans-serif; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://chart.finance.yahoo.com/t?s=DX-Y.NYB&lang=en-US&region=US&width=300&height=180" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="http://chart.finance.yahoo.com/t?s=DX-Y.NYB&lang=en-US&region=US&width=300&height=180" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><b>US DOLLAR INDEX DXY (30 MIN DELAY)</b> </td></tr>
</tbody></table>
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://ih.advfn.com/p.php?pid=staticchart&s=FX%5EEURUSD&t=35&f=0&p=0&dm=0&delay=1&cb=1302363701828" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="http://ih.advfn.com/p.php?pid=staticchart&s=FX%5EEURUSD&t=35&f=0&p=0&dm=0&delay=1&cb=1302363701828" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><b><span style="font-family: "arial" , "helvetica" , sans-serif;">EUR/USD</span></b></td></tr>
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<span style="font-size: x-large;">U.S. Dollar Drops, Stocks Mixed Edge Higher, Commodities Rise </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>FRIDAY, </b></span><span style="font-family: "arial" , "helvetica" , sans-serif;">Jan. 21, 2011</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>:</b> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The Dow Jones Industrial Average rose 0.41% percent to close at </span><span style="font-family: "arial" , "helvetica" , sans-serif;">11,871.84, gaining 49 points. The Nasdaq lost -14.75 points to close lower at 2,689.54. The SPX500 gained 3.09 points to end the week at 1,283.35. U.S. blue-chip stocks gained as encouraging earnings from General Electric boosted industrial stocks, overshadowing a handful of disappointing reports. <br />
<br />
At mid-day, the Dow Jones Industrial Average rose 31 points, or 0.3%, to 11853. GE led the measure, soaring 6.7%, after its profit jumped 51% and revenue also beat Wall Street's estimates, with a pickup in orders for big-ticket equipment and services. <br />
<br />
The Nasdaq Composite fell 0.2% to 2699. The Standard & Poor's 500-stock index rose 0.3% to 1284, led by the industrial sector. Financial and telecommunications stocks were also strong. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Equity futures are pointing to a higher open. The U.S. dollar declined from overnights high against the Yen and Euro. The dollar weakened against both the euro and the yen. The euro was trading recently at $1.3536. Crude-oil prices eased, while gold futures also declined. The Dow Jones Industrial Average rose 66 points, or 0.6%, to 11889. The Nasdaq Composite rose 0.5% to 2719. The Standard & Poor's 500-stock index rose 0.6% to 1288, led by the industrial sector. </span><br />
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<div style="color: #e06666; font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;">U.S. BANK FAILURES:</span></div>
<div style="font-family: Times,"Times New Roman",serif;">
<span style="font-size: large;"><b>The FDIC Closed Banks Friday After Hours</b></span></div>
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The U.S. Government FDIC regulators closed additional Banks late Friday and seized all assets.The Federal Deposit Insurance Corp announced it closed additional banks. </div>
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">United Western Bank, Denver, CO., January 21, 2011</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Bank of Asheville, Asheville, NC., January 21, 2011</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">CommunitySouth Bank & Trust, Easley, SC., January 21, 2011</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Enterprise Banking Company, McDonough, GA., January 21, 2011</span><br />
<br />
<i><span style="font-size: small;">To see the complete list of failed banks and credit unions visit:</span></i><br />
<span style="font-size: large;">Online Consultancy Network™ Bank Failure List</span><br />
<br />
<a href="http://ocnww.blogspot.com/2011/01/bank-failure-list-updated-january-28.html">http://ocnww.blogspot.com/2011/01/bank-failure-list-updated-january-28.html</a><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY:</b> The U.S. indexes declined Thursday. The Dow settled at 11,822.8, just 2.49 points lower. The Nasdaq lost 21 points to close at 2704, while the SPX500 declined 1.66 points to end the session off at 1280.26. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The dollar rose. The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, gained 0.3%. U.S. equities fell Thursday as the dollar strengthened and commodities and blue chips declined on earnings news. News that China may further restrict borrowing also concerned investors. The Dow Jones Industrial Average slipped 42 points, or 0.4%, to 11783.The Nasdaq Composite dropped 0.7% to 2706. The Standard & Poor's 500 index slipped 0.4% to 1276. The materials and energy sectors led the drop in U.S. stocks. Commodities weakened on concerns about the impact to demand if China announces more policy moves after data showed its economy unexpectedly accelerated in the fourth quarter of 2010. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY:</b> U.S. equity indexes are lower in mixed trading Wednesday. The Dow closed 12.64 points lower to end at 11,825.29. The Nasdaq ended 40.49 points lower to close at 2725.36. The SPX500 closed 13.10 points off, to close out the session at 1281.92. The Dow Jones Industrial Average slipped in and out of positive territory during the session, and was two points higher at 11840 in mid-afternoon trading. The broader Standard & Poor's 500-stock index dropped 0.9% to 1283. Materials also lagged behind as commodity prices sagged, with U.S. Steel off 4.6% and AK Steel Holding falling 4.1%. Monsanto was also down 3.4%. Copper fell 1.2%, while crude-oil prices slipped to below $92 a barrel. Gold futures edged up. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The lower dollar is driving commodities and providers higher in early trading. The euro was recently up 0.9% to $1.3516, after hitting two-month highs against the greenback. The dollar weakened against both the euro and the yen. The euro was trading recently at $1.3472, up from $1.3385 late Tuesday in New York. The U.S. Dollar Index, which tracks the currency against a basket of others, fell 0.6%. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The day's U.S. economic data was mixed. Blue-chip stocks start the day with slim gains, buoyed by early strength in IBM after it reports sharply higher profit, while the broader market dips modestly after a round of mixed corporate quarterly reports. IBM is up 3% but Goldman dips 2% after its results disappoint. The Dow Jones Industrial Average shed 4 points to 11834.The Nasdaq Composite fell 0.7% to 2747. The Standard & Poor's 500-stock index dropped 0.5% to 1288. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY:</b> The U.S. equities market moved higher with a lowered dollar and mixed economic data in the equities market.</span> <span style="font-family: "arial" , "helvetica" , sans-serif;">U.S. stocks on Tuesday tallied mild gains, with the Dow industrials boosted by aircraft maker Boeing Co. amid disappointing earnings from Citigroup Inc. and concerns about Apple Inc</span>. <br />
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<div style="font-family: Arial,Helvetica,sans-serif;">
The Dow Jones Industrial Average (DJI) rose 64.25 points, or 0.6%, to 11,851.56, with 20 of its 30 components higher. Boeing Co. (BA) led the blue chips, its shares rising 3.1% after the company said it now expects to deliver its new 787 jet in the third quarter. </div>
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The Standard & Poor's Index (SPX) was up 1 point at 1,294.17, with energy the best performing of its 10 industry group. Telecommunications fared the worst.Shares of iPod maker Apple (AAPL) slumped 1.7% after news that Jobs would be taking another medical leave. Apple is scheduled to release its earnings after Tuesday's close. </div>
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The Nasdaq 100 lately stood at 2,326.11, up 2.35 points, or 0.2%.The Nasdaq Composite Index (RIXF) rose 3.81 points, or 0.1%, to 2,759.11.Decliners remained just ahead of advancers on the New York Stock Exchange, where volume topped 623 million as of 1:35 p.m. Eastern time. </div>
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<div style="font-family: Arial,Helvetica,sans-serif;">
On Tuesday, banking giant Citigroup (C) reported fourth-quarter earnings that missed Wall Street's expectations, while Delta Air Lines Inc. (DAL) also reported results that came up short. </div>
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"The reports from Delta and Citigroup may bring some sense of reality to Wall Street, reminding investors that there will be some negative earnings surprises this quarter," said Fred Dickson, chief investment strategist at Davidson Cos. </div>
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<div style="font-family: Arial,Helvetica,sans-serif;">
Shares of Citigroup fell 5.9%, while those of Delta retreated 5.8%.Wall Street offered little reaction to the National Association of Home Builders reporting its housing market index held steady in January, with the trade group's index unchanged at 16 for a third consecutive month.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">,</span>____________________________________________________________<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">CRUDE OIL:</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-size: small;"><b style="font-family: Arial,Helvetica,sans-serif;">US CRUDE OIL</b></span></td></tr>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">FRIDAY:</span></b><b><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">$ 112.11 PER BARREL</span></b><br />
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FRIDAY Jan. 21, 2011 OIL FUTURES: Nymex Crude Settles Down 48c At $89.11 per barrel<br />
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Oil futures were flat Friday as traders paused a day after a steep sell-off prompted by worries about China's economy. <br />
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Light, sweet crude for March delivery fell 2 cents at $89.57 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange added 47 cents, or 0.5%, at $97.06 a barrel.<br />
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Front-month February reformulated gasoline blend-stock, or RBOB, recently traded up 0.64 cent, or 0.3%, at $2.4289 gallon. February heating oil added 1.04 cent, or 0.4%, at $2.6336 a gallon.<br />
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<b>THURSDAY</b> OIL FUTURES: Nymex Crude Settles Down $2 at $88.86/Barrel </div>
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<b>DEPARTMENT OF ENERGY REPORT: </b></div>
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DOE: US Refineries Ran At 83.0%; Seen 85.70%</div>
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US Gasoline Stocks +4.443 Mln Bbl At 227.67 Mln Bbl</div>
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US Crude Oil Stocks +2.617M Bbl In Wk; Seen -0.9M Bbl </div>
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U.S. crude inventories rose by more than analysts' expectations last week, according to data released Thursday by the the U.S. Department of Energy. <br />
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Crude oil stockpiles rose by 2.6 million barrels to 335.7 million barrels, compared with an average survey estimate calling for a 900,000-barrel drop. The American Petroleum Institute, an indsutry group, reported on a 3.5-million-barrel build in its weekly report released Wednesday. Distillate stocks, which include heating oil and diesel fuel, rose by 1 million barrels to 165.8 million barrels, compared with analysts' forecast calling for a 500,000-barrel build. <br />
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Refining capacity utilization fell 3.4 percentage points to 83%. Analysts had expected a decline of 0.7 percentage point. . </div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Light, sweet crude futures for February delivery were recently down $2.51, or 2.8%, to $88.35 a barrel following the report, maintaining earlier losses. The February contract expires at settlement Thursday, and March futures were down $2.47 to $89.34 a barrel. Brent crude on the ICE futures exchanges were recently down $1.99 at $96.17 a barrel. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Front-month February reformulated gasoline blend-stock, or RBOB, recently fell 6.91 cents to $2.4125 a gallon. February heating oil lost 4.67 cents to $2.6095 a gallon.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY</b> OIL FUTURES: Nymex Crude Settles 52c Lower At $90.86/Barrel </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Thursday's inventory numbers caused concern among investors who drew down the crude futures price in afternoon trading.</span> <span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Light, sweet crude for February delivery settled 52 cents, or 0.6%, lower at $90.86 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 36 cents higher at $98.16 a barrel. Front-month February reformulated gasoline blend-stock, or RBOB, settled 0.24 cent higher at $2.4816 a gallon. February heating oil settled 1.03 cents higher at $2.6562 a gallon.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The American Petroleum Institute, an industry group, said late Wednesday crude stocks rose by 3.5 million barrels. Gasoline stocks rose by 1.9 million barrels, while stocks of distillates rose by 900,000 barrels.</span> <span style="font-family: "arial" , "helvetica" , sans-serif;">Near-capacity stockpiles of oil in Cushing, Okla., the delivery point for Nymex-traded West Texas Intermediate crude futures, has kept the U.S. benchmark trading at a large discount to Brent, which is used to price much of the oil in Europe and Asia. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Crude futures moved higher in morning trading Wednesday, helped by a weak dollar ahead of key inventory data later this week. U.S. oil inventories are expected to fall by 1.4 million barrels in weekly data from the U.S. Department of Energy. But the expected decline is partly due to the shutdown of the Trans-Alaska Pipeline, which restarted Monday. <br />
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Light, sweet crude for February delivery recently traded 33 cents, or 0.4%, higher at $91.71 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 52 cents higher at $98.32 a barrel.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Front-month February reformulated gasoline blend-stock, or RBOB, recently traded 1.61 cents, or 0.7%, higher at $2.4953 a gallon. February heating oil recently traded 2.46 cents higher at $2.6705 a gallon. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The American Petroleum Institute, an industry group, is scheduled to release its weekly inventory data later Wednesday. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY</b> OIL FUTURES: Nymex Crude Settles 16c Lower At $91.38/Barrel </span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">TUESDAY:</span></b> <span style="font-family: "arial" , "helvetica" , sans-serif;">Oil futures were flat Tuesday. Crude futures settled slightly lower Tuesday, as traders paused following a report from the International Energy Agency that offered a mixed picture on global oil supplies. </span><br />
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Light, sweet crude for February delivery settled 16 cents, or 0.2%, lower at $91.38 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 31 cents higher at $97.74 a barrel. </div>
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Front-month February reformulated gasoline blend-stock, or RBOB, settled down 1.54 cents at $2.4792 a gallon. February heating oil settled 0.07 cent higher at $2.6459 a gallon. </div>
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U.S. gasoline stockpiles have risen by 12.9 million barrels to 223 million barrels since the beginning of November, reaching the highest level for the first week of January since 1994. <br />
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Inventories of distillates, which include heating oil and diesel, sit at 165 million barrels, the highest level since 1983 and 17% higher than the five-year average. </div>
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Early Tuesday, the IEA said the world will need more crude from the Organization of Petroleum Exporting Countries amid faster-than-expected oil demand growth. The Paris-based agency, which represents the world's main energy consuming nations, boosted its 2010 and 2011 demand estimates by 320,000 barrels a day from its December report, due to stronger-than-expected consumption by the U.S. and other industrialized nations. <br />
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But the report sounded a note of caution on the recent rise in oil prices.Friday after China's central bank raised its reserve requirements, spurring fears of declining demand in the world's No. 2 oil consumer.</div>
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The IEA said Saudi Arabia, which voices a more moderate pricing policy than some other OPEC members, had increased volumes by 100,000 barrels a day in December to 8.6 million b/d - the country's highest output level since November 2008. <br />
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"It appears Saudi Arabia has been making more crude available to the market in the past six months, judging by export data from independent tanker trackers," the report said, adding that preliminary data suggested the kingdom's January output would be higher still. <br />
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"The Saudis have increased discounts for January and February liftings, which indicates they want to ease some oil onto the market," said Leo Drollas, chief economist of the Centre for Global Energy Studies in London. "Obviously the rising price of oil is a factor that would influence the Saudis." <br />
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Saudi Arabia's veteran oil minister Ali Naimi recently insisted that despite the recent increase in oil prices and OPEC's unwillingness to change its official quotas, he still favored a price range of $70-$80 a barrel. Total OPEC December production stood at 29.6 million b/d, a rise of 250,000 b/d from November and around 2.3 million b/d higher than its agreed production ceiling, the report said. <br />
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OPEC's own production report, which is based on secondary sources, said Saudi output rose by 63,000 b/d in December, while the Joint Oil Data Initiative, a statistics body representing both oil producers and consumers, said exports in November had increased by 770,000 b/d over October. <br />
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Among the other OPEC producers, Nigeria also pushed output higher in December after repairs were carried out on damaged infrastructure. According to the IEA, OPEC might now quietly increase production rather than wait until its next scheduled meeting, due in early June.<br />
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<span style="font-size: large;">Retail Diesel Price Rose 7.4 Cents In Week</span></div>
<span style="font-family: "times" , "times new roman" , serif; font-size: large;"> To $3.407 A Gallon </span><br />
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The national average price of retail diesel fuel jumped 7.4 cents to $3.407 a gallon in the week ended Monday, the U.S. Energy Information Administration said Tuesday. Prices remained at their highest level since late October 2008 for the seventh straight week and have risen 24.5 cents, or 7.7%, in that period, in line with stronger crude-oil prices. <br />
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The rise in the latest week was the biggest since April 5, 2010. Nationwide, prices are 18.7%, or 53.7 cents, above their levels a year earlier. <br />
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The latest price puts retail diesel at 28.5% below the record high level of $4.764 a gallon hit on July 14, 2008. Then, diesel carried a premium to a year earlier of $1.875 a gallon as crude-oil prices soared to record highs near $150 a barrel. <br />
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Prices so far in January are averaging $3.332 a gallon. The EIA said in its Jan. 11 monthly Short-Term Energy Outlook it expects prices to set a January record of $3.34 a gallon this month.<br />
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<b>Region </b> Change Week Ago Price Per Gallon<br />
East Coast +8.4c $3.448<br />
Midwest +6.9c $3.371<br />
Gulf Coast +8.2c $3.366<br />
Rocky Mountains +4.0c $3.374<br />
West Coast +6.4c $3.509<br />
California +4.6c $3.562 <br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">NATURAL GAS:</span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-size: small;">United States Natural Gas (UNG)</span></td></tr>
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<b>FRIDAY:</b> <b>Natural Gas: $4.74</b> <br />
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Natural gas futures on Friday climbed to their highest levels since early August on speculation that cold weather in the forecast would lead to further large inventory draws and help balance a market that has long been pressed by a supply overhang. <br />
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Natural gas for February delivery recently traded 5.1 cents, or 1.1%, higher at $4.746 a million British thermal units on the New York Mercantile Exchange. Futures earlier Friday traded as high as $4.757, the highest intraday price since Aug. 5.<br />
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<b>THURSDAY:</b> Natural Gas: $4.68</div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>US GAS: Futures Rise On Larger-Than-Expected Storage Draw</b> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Natural gas futures climbed to their highest levels in more than two weeks after a larger-than-average weekly storage draw eased the supply overhang that has pressured prices for the heating fuel. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Natural gas for February delivery recently traded 7.9 cents, or 1.7% higher, at $4.640 a million British thermal units on the New York Mercantile Exchange. The benchmark contract rose as high as $4.690/MMBtu after the report, the highest intraday price since Jan. 4. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The U.S. Energy Information Administration reported that natural gas inventories fell by 243 billion cubic feet last week. Natural gas in U.S. storage during the week ended Jan. 14 stood at 2.716 trillion cubic feet. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY</b> US GAS: Futures Close 3.07% Higher At $4.561/MMBtu </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Natural gas futures climbed Wednesday on a cold-weather outlook for major gas-heating markets and anticipation of a large weekly decline in gas stockpiles. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Natural gas for February delivery recently traded 4.3 cents higher, or 1%, at $4.468 a million British thermal units on the New York Mercantile Exchange. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Wednesday's forecasts for the next two weeks came in slightly colder than previously expected across much of the eastern U.S.</span> <span style="font-family: "arial" , "helvetica" , sans-serif;">Futures have traded in a narrow range this month between about $4.30/MMBtu and $4.70/MMBtu as market participants weighed weather forecasts with inventories. The EIA's report is scheduled for release Thursday at 10:30 a.m. EST. <br />
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Inventories as of Jan. 7 stood at 2.959 trillion cubic feet, the EIA said last week, about 5.8% above the five year average. That's down from nearly 10% above average in November, when inventories reached a record high. <br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">PRECIOUS METALS: </span><br />
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<tr><td class="tr-caption" style="text-align: center;"><b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">U.S. Gold</span></b></td></tr>
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<b>FRIDAY: </b><b>Gold: $1,344</b> </div>
<b><span style="font-family: "arial" , "helvetica" , sans-serif;">FRIDAY: </span></b><b style="font-family: Arial,Helvetica,sans-serif;">Silver: $27.28</b> <br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>FRIDAY:</b> Spot gold falls further in Europe Friday as an improving economic outlook weighs on the precious metal complex, though bargain buying and a weaker dollar is keeping losses at a minimum. The most actively traded gold contract, for February delivery, fell $5.50, or 0.4%, to settle at $1,341 a troy ounce on the Comex division of the New York Mercantile Exchange. Thinly traded nearby January gold also fell $5.50, to $1,341, losing 1.4% on the week to close at its softest price since Nov. 17. Silver futures also dropped, with March metal losing 0.2% to settle at $27.427, its lowest close since Nov. 29. <br />
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Platinum group metals--with are more widely used in industry than gold--rose. Nymex April platinum gained 0.2% while March palladium on the exchange added 0.1% </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Engelhard Corp's base price for industrial gold bullion was $1346.43 per troy ounce, down $2.01 from previous. It's selling price for gold in fabricated form was $1447.42, down $2.15.<br />
Handy & Harman's base price for gold was $1343.50 per troy ounce, down $2.00. The fabricated form price was $1450.98, down $2.16. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Friday Settlements (range includes floor and electronic trading):</b><br />
London PM Gold Fix: $1,343.50; previous PM $1,345.50<br />
Feb gold $1,341.00, down $5.50; Range $1,337.00-$1,349.70<br />
Mar silver $27.427, down 4.6 cents; Range $27.080-$27.630<br />
Apr platinum $1,822.30, up $3.70; Range $1,805.30-$1,832.80<br />
Mar palladium $816.75, up 90 cents; Range $803.00-$824.00<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY:</b> Gold futures fell to a two-month low Thursday. The most actively traded gold contract, for February delivery, also fell $23.70 to $1,346.50. The thinly traded gold for January delivery lost $23.70, or 1.7%, to settle at $1,346.50 a troy ounce. Other precious metals traded in New York, which have smaller markets and are subject to greater volatility than gold, also fell. Comex March silver lost $1.328, or 4.6%, to settle at $27.473, its lowest close since Nov. 29. Nymex April platinum fell 1.1% and Nymex March palladium declined 0.5%.</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Engelhard Corp's base price for industrial</span> <span style="font-family: "arial" , "helvetica" , sans-serif;">gold bullion was $1348.44 per troy ounce, down $26.54 from previous. It's selling price for gold in fabricated form was $1449.57, down $28.54.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Handy & Harman's base price for gold was $1345.50 per troy ounce,</span> <span style="font-family: "arial" , "helvetica" , sans-serif;">down $26.50. The fabricated form price was $1453.14, down $28.62.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> <b>Thursday Settlements (range includes floor and electronic trading):</b><br />
London PM Gold Fix: $1,345.50; previous PM $1,372.00<br />
Feb gold $1,346.50, down $23.70; Range $1,342.40-$1,370.90<br />
Mar silver $27.473, down $1.328; Range $27.375-$28.780<br />
Apr platinum $1,818.60, down $19.50; Range $1,800.60-$1,842.40<br />
Mar palladium $815.85, down $3.90; Range $795.00-$818.85<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY:</b> Gold futures gained Wednesday as investors wanted an alternative to the U.S. dollar. </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The most actively traded gold contract, for February delivery, was recently up $7.50, or 0.5%, at $1,375.70 a troy ounce on the Comex division of the New York Mercantile Exchange.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Engelhard Corp's base price for industrial gold bullion was $1374.98 per troy ounce, up $2.50 from previous. It's selling price for gold in fabricated form was $1478.11, up $2.70.<br />
Handy & Harman's base price for gold was $1372.00 per troy ounce, up $2.50. The fabricated form price was $1481.76, up $2.70.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY:</b> Gold was supported by a weaker dollar Tuesday. The most actively traded gold contract, for February delivery, settled up $7.70, or 0.6%, at $1,368.20 an ounce on the Comex division of the New York Mercantile Exchange.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Other precious metals traded in New York also settled higher. Comex March silver rose 59.2 cents, or 2.1%, to $28.912 an ounce. Nymex April platinum settled 0.7% higher at $1,828.30 an ounce and Nymex March palladium climbed 2.5% to $810.45 an ounce.<br />
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<b>Tuesday Settlements (range includes floor and electronic trading):</b><br />
London PM Gold Fix: $1,369.50; previous PM $1,360.50<br />
Feb gold $1,368.20, up $7.70; Range $1,356.80-$1,376.00<br />
Mar silver $28.912, up 59.2 cents; Range $28.050-$29.080<br />
Apr platinum $1,828.30, up $12.30; Range $1,803.20-$1,832.30<br />
Mar palladium $810.45, up $19.95; Range $782.50-$813.10</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">US Oct Gold Output 26,900 Kg, Down 2.2% On Month</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">U.S. domestic production of mined gold was 26,900 kilograms in October, down 2.2% from 27,500 kg in September, according to the U.S. Geological Survey on Tuesday.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">BASE METALS:</span> <br />
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<b>FRIDAY: Copper $ 4.30 Per Pound</b> <br />
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Copper futures rose Friday as the dollar declined. The most actively traded copper contract, for March delivery, rose 3.7 cents, or 0.87%, to settle at $4.3090 a pound on the Comex division of the New York Mercantile Exchange. The ICE Futures U.S. Dollar Index was down 0.7% shortly after copper closed. A weaker dollar tends to help dollar-denominated copper by making the metal less expensive for foreign buyers, boosting demand. <br />
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Inventories of copper stored in London Metal Exchange warehouses rose 775 metric tons Friday, leaving them at 381,300. Data released on Fridays by the Shanghai Futures Exchange showed a weekly decline of 2,283 metric tons to 130,364. The most recent Comex inventory data, released late Thursday afternoon, were up 317 short tons at 65,873 short tons.<br />
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<b>Copper settlements (range include electronic and floor trading):</b><br />
Mar $4.3090; up 3.7 cents; Range $4.2450-$4.3375<br />
May $4.3130; up 3.65 cents; Range $4.2590-$4.3365<br />
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China's December imports of refined copper declined 1.6% from a month earlier to 228,609 metric tons. Chinese imports of copper concentrate in December declined 3.5% from a year earlier to 485,055 metric tons, the General Administration of Customs data showed Friday.<br />
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Workers at Zambia's Mopani Copper Mines have agreed an 10.5% pay increment with management after weeks of talks, a union official said Friday.<br />
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<b>WEDNESDAY:</b> Copper $ 4.36 Per Pound<b> </b></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Base metals are moving with the market, slightly higher This week. Copper is trading near fresh record highs on the London Metal Exchange Wednesday and, supported by strong fundamentals, industry participants say it is only a matter of time before prices hit $10,000 a metric ton. The global refined copper market recorded a small deficit of 97,000 metric tons during the first 11 months of the year, the World Bureau of Metal Statistics said Wednesday. <br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">U.S. TREASURYS/BONDS: </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>FRIDAY:</b> Demand for Treasurys was mixed, with the two-year note flat and the 10-year note up. The yield on the 10-year note fell to 3.43%. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY:</b> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Treasurys fell, lifting the yield on the 10-year note up to 3.40%. The U.S. Treasury plans to auction $35 billion in 2-year notes Tuesday. The debt will settle on Jan. 31, 2011 and will mature Jan. 31, 2013. The Federal Reserve holds $2.232 billion of maturing securities for its own account. Amounts bid by the Federal Reserve banks for their own account will be in addition to the public offering amount. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY:</b> Demand for U.S. Treasurys rose Wednesday. In late afternoon trading, the benchmark 10-year note was 8/32 higher to yield 3.337%. The 30-year bond was 22/32 higher to yield 4.523%.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Fed bought $7.716 billion in notes Wednesday. It only took two notes, with the bulk of the buying was on the note maturing Jan. 15, 2014. Yet the total amount of buying was on the upper band of $7 billion to $9 billion range the Fed intended to buy for this operation. The Fed is scheduled to buy Treasurys Thursday and Friday, targeting longer-dated maturities. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The U.S. two-year swap spread, which measures the differential between the two-year swap rate and two-year Treasury yield and a main gauge of credit risks, was 0.5 basis point tighter at 22.25 basis points. The 10-year swap spread was 0.25 basis point wider at 6.75 basis points. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY:</b> Treasurys fell, lifting the yield on the 10-year note up to 3.32%. In late afternoon trading, Treasurys posted moderate losses on Tuesday as demand for safe assets eased and some investors cut holdings to book profits. <br />
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In a day short of major U.S. data, the bond market was jolted during the mid-morning session as talk circulated in the market that an investor made a mistake--known as a "fat finger" error--on a trade inquiry, according to several traders and dealers. <br />
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The benchmark 10-year note's yield surged to 3.378% at 9:26 a.m. EST from 3.298% at 9:14 a.m. EST. The yield continued to move higher and hit as high as 3.413%, though it is still below the seven-month peak of 3.568% hit on Dec. 16. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">In late-afternoon trading, the benchmark 10-year note was 8/32 lower to yield 3.364%. The 30-year bond was 16/32 lower to yield 4.566%.</span><br />
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The Treasury market rose earlier Tuesday morning, with traders noting Asian central banks buying overnight, and some investors were disappointed that a finance minister meeting for the euro zone put off a decision on whether to increase the size of the bailout funding mechanism until at least the European Union summit in early February. </div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>BONDS FRIDAY, JAN. 21, 2011; 4:00 PM EST: </b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">3 Month 0.13% 0.00 (0.00%)<br />
6 Month 0.17% 0.00 (0.00%)<br />
2 Year 0.61% 0.00 (0.00%)<br />
5 Year 2.01% -0.01 (-0.50%)<br />
10 Year 3.41% -0.01 (-0.29%)<br />
30 Year 4.56% -0.01 (-0.22%)</span><br />
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<span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">U.S. ECONOMIC NEWS:</span></span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">FRIDAY:</span> </b> <br />
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<span style="font-size: large;">EPA APPROVES LOWER GAS MILEAGE FOR US AUTO'S</span></div>
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<span style="font-size: large;"> BY APPROVING A HIGHER ETHANOL BLEND</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">The U.S. Environmental Protection Agency has approved higher levels of ethanol in gasoline for model year 2001 through 2006 cars, after months of studying the safety of the fuel. The EPA's decision, which was widely expected, allows owners of those cars to use gasoline made with 15% ethanol, as opposed to the current 10% blend. Last year, the EPA approved the higher ethanol blend for model-year 2007 cars and newer.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">LENDERS SEE LITTLE CHOICE BUT TO LAY OFF</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The banking industry, racked by the financial crisis and facing slower revenue growth, is starting to cut costs, increasingly at the expense of jobs, writes Matthias Rieker.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">JAPAN TO STAND PAT ON RATES</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The Bank of Japan's policy board is expected next week to keep its monetary policy unchanged, and maintain its view that the nation's economy will resume a moderate recovery.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">BUSINESS GROUP BACKS OVERHAUL OF TAX CODE</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">A drive to overhaul the U.S. tax code gets off to a quick start at a congressional hearing when an influential business group throws its weight behind the effort and lawmakers of both parties pledge to work together on a fix.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">CALIFORNIA UNEMPLOYMENT RATE 12.5%</span><br />
California's government and construction sectors shed thousands of positions. L.A. County's unemployment rate hits 13%. California's unemployment rate climbed in December as fallout from real estate downturn and the state's budget woes continued to weigh on the labor market.<br />
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The jobless rate rose to 12.5% from 12.4% in November. That stood in contrast to the nation's unemployment rate, which fell to 9.4% in December, from 9.8% the previous month.<br />
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California employers added just 4,900 jobs to payrolls in December, the Employment Development Department said Friday, after adding 30,500 the month before. The construction sector lost 3,200 jobs. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The state's construction sector has lost 319,000 jobs since the recession began in December 2007. <br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The month's biggest loser was the government sector, which shed 15,400 jobs. (The jobless rate rose despite the net increase in jobs because an even greater number of people joined the labor market; the reverse can also be true.)<br />
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Economists expect public sector employment to keep shrinking as Gov. Jerry Brown tries to close a budget deficit projected to be $28 billion over the next 18 months. Many of these job losses will be felt in local government payrolls, which account for the lion's share of government employment.<br />
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The government sector has had to contract to compensate for lower revenue collections. The sector lost 21,700 jobs in 2010, with most of those positions coming from local government.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY: </b> </span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">US EXISTING HOME SALES RISE 12.3% IN DECEMBER </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Sales of previously occupied homes rise more than expected to an annual rate of 5.28 million, ending a rocky year for the housing market on an encouraging note, the National Association of Realtors says. Economists were expecting sales to increase to 4.9 million.</span><br />
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<span style="font-size: large;">U.S. STATE AND CITY ECONOMIC OUTLOOK</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"> A Center on Budget and Policy Priorities report released Thursday says eleven states are reporting new mid-year shortfalls for fiscal year 2011, while 40 have already projected gaps for fiscal 2012 that total roughly $113 billion, according to the CBPP.State and local governments do need to take more immediate steps to resolve projected budget gaps, the non-profit, non-partisan group said. While the revenue picture has improved, the money coming into state coffers is still 12% below pre-recession levels, it added. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Recent media reports that suggest state and local governments could default on their debt or declare bankruptcy because they face large budget deficits and massive unfunded pension liabilities.state and local governments should have about three decades to address their growing unfunded pension liabilities, the CBPP said. The pension liability problem may also not be as massive as some have predicted, the group added. <br />
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One estimate by finance academics Robert Novy-Marx and Joshua Rauh says government pensions in aggregate could be underfunded to the tune of $3 trillion, but the CBPP argues this number is way too high. The $3 trillion figure "is based on valuing future liabilities as if investments in pension trust funds will earn no more than 'riskless' investments such as Treasury bonds," the group said. The CBPP estimates unfunded pension liability figure to be closer to $700 billion, which it called more "manageable though still troubling." </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Also today, a meeting to determine whether a New York State watchdog should seize control of the finances of Nassau County will be set soon, an official said Thursday. <br />
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The Nassau County Interim Finance Authority, or NIFA, can take over the finances of the wealthy county adjacent to New York City if it concludes the $2.6 billion budget for 2011 isn't balanced. The authority required county officials by Thursday to show documents that prove their budgetary fixes create a balanced spending plan.NIFA board members had expected the earliest a meeting could be held would be next week. <br />
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Brian Nevin, a senior policy advisor and communications director for County Executive Edward Mangano, said all the county's requested documents were submitted to NIFA by Jan. 14. Nassau County first ran into trouble a decade ago, when it required a $100 million bailout from the state. <br />
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Now, the county is facing problems common in other local governments, particularly aging suburban communities: generous union contracts, rising costs, and reluctance to cut services or raise taxes. In November, Moody's Investors Service downgraded the county's credit rating one notch to A1 with a negative outlook. It called its cash-flow projections "aggressive" and said that the 2011 budget had "significant assumptions that may be difficult to meet." Nassau County has about $1.2 billion in outstanding bonds. <br />
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Municipal bond investors have recently punished bonds issued by Nassau County, demanding yields higher than similarly rated debt.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">On Friday, California Treasurer Bill Lockyer responded angrily to suggestions that states be allowed to declare bankruptcy. <br />
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"To the folks in Congress cooking this baloney: Don't bother. States didn't ask for it. We don't want it. We don't need it," Lockyer said in an emailed statement. <br />
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The statement by the chief </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Treasurer</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> for the nation's most populous state and largest municipal bond issuer apparently was touched off by an article in Friday's New York Times. The article recapped states' huge budget deficits and other fiscal problems and said Washington policymakers are "working behind the scenes" to come up with a way to let states declare bankruptcy and get out from under crushing debts..." <br />
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Unlike cities and smaller units of government, states aren't allowed to seek federal bankruptcy protection. Considered sovereign entities, they would have to seek difficult-to-obtain constitutional changes. <br />
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"Advocates of this preposterous idea want one thing above all--to see government go up in flames and, with it, the lives of a certain class of working people they don't like," Lockyer said. <br />
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One primary advocate is former Republican House Speaker Newt Gingrich, who is said to be considering a possible presidential bid in 2012. Pushing to allow state bankruptcy could help break or at least punish Democratic-friendly unions while burnishing his credentials with the right wing of the Republican party. <br />
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Just the mention of state bankruptcy could send shivers through the $2.9 trillion market for state and local government debt, which already has been attracting media attention that it wishes would somehow go away. A Bay Area California city--Vallejo, the most populous in Solano County--filed for bankruptcy two years ago, while other cities facing tough times have been put under the auspices of some form of state control board.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">404,000 MORE AMERICAN'S LOST </span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: large;">THEIR JOBS LAST WEEK- THAT'S NOT GOOD NEWS</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The number of U.S. workers filing new claims for unemployment benefits falls 37,000, more than expected, last week, indicating a stronger economy is leading to a slow improvement in the jobs market. Economists had expected claims to drop to 420,000. </span>Net job gains in December were modest. Employers added only 103,000 jobs, less than half of the total needed to reduce the unemployment rate.The unemployment rate fell to 9.4 per cent from 9.8 per cent last month. </div>
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<span style="font-size: large;"><span style="font-family: "times" , "times new roman" , serif;">EURO-ZONE CONSUMER CONFIDENCE WEAKENS</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Consumer confidence in the 17 countries that use the euro continues to weaken in January, reflecting concerns about the economic outlook and the jobs market.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">CBOE'S BRODSKY SEEKS REVIEW</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">OF DARK-POOL OFF-EXCHANGE TRADING</span><br />
Market regulators in the U.S. need to undertake a "comprehensive review" of trading activity in private, off-exchange platforms, according Chicago Board Options Exchange Chairman and Chief Executive William Brodsky.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">NYC INVESTMENT BANK, </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">SECURITIES EMPLOYMENT DIPS 16%</span><br />
While overall New York City employment on Wall Street was relatively flat in 2010 there were double-digit declines in activities such as investment banking and securities dealing and securities brokerage, according to the New York Department of Labor. </span><br />
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<span style="font-size: large;">CONF. BOARD: DEC US LEADING INDEX UP 1.0%</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">The leading index of leading economic indicators increases 1.0% in December, after an unrevised jump of 1.1% in November, the Conference Board says. Economists were expecting a gain of just 0.6% in the December index.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">WORLD ECONOMIC FORUM IN DAVOS SWITZERLAND</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">January 27-28, Treasury Secretary Timothy Geithner will lead the U.S. delegation to the World Economic Forum in Davos, Switzerland. At the meeting next Thursday and Friday, Geithner will discuss a range of issues including the state of the U.S. and the global economy, the Treasury said.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: large;"><span style="font-family: "times" , "times new roman" , serif;">PHILADELPHIA FED AREA FACTORIES REPORT</span></span><br />
Mid-Atlantic manufacturers see a solid start to the year amid continued growth and gains in hiring, with the Federal Reserve Bank of Philadelphia business activity index moving to 19.3, compared with 20.8 in December and forecasts of 19.5.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">HOUSE VOTES TO REPEAL HEALTH-CARE LAW</span><br />
The Republican-led House votes to repeal the sweeping health overhaul, making good on a GOP election promise but leaving uncertain how the party will attempt to replace the law..</span><br />
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<b>WEDNESDAY: </b></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">CHINA TO EXPAND MARKET ACCESS</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The White House on Wednesday said China has committed to expanding access for U.S. manufactured goods and will strengthen enforcement of intellectual-property rights. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">China has also committed to eliminating, during government-procurement decisions, policies that discriminate against where a product is made, the White House said in a press release Wednesday. The commitments from China were first initiated following the 21st Joint Commission on Commerce and Trade. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The White House issued a press release detailing China's commitments during an official state visit by Chinese President Hu Jintao. Hu is meeting with President Barack Obama in the Oval Office to discuss, among other things, concerns over China's currency and global trade imbalances. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">In preparation for the meeting, U.S. and Chinese companies have completed about $45 billion worth of export deals, including the sale of $19 billion of Boeing Co. (BA) aircraft, a senior administration official said Wednesday.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">EU SUSPENDS ETS TRADING FOR WEEK; Security Breaches</span><br />
Trading on the European carbon market is suspended until at least next Wednesday because of recent security breaches that need to be addressed, the European Commission said. <br />
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"The European Commission will suspend transactions, except for allocation and surrender of allowances, in all EU ETS [Emissions Trading System] registries at least until 26 January 2011," it said in a statement. It went into effect at 1800 GMT Wednesday. <br />
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The ETS is the European Union's flagship program to reduce greenhouse gas emissions, a virtual market where companies can buy more allowances to emit one metric ton of carbon dioxide if they need to emit more, or sell them if they pollute less. It has a cap to make sure emissions are limited. <br />
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While a major overhaul will be implemented in 2013 to include new sectors and limit the number of allowances given out for free, the system has lately suffered some setbacks and its functioning has been crippled by illegal actions. The commission's decision follows "repeated" security breaches in some member countries in the last two months, it said. <br />
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EU countries, and also Norway, Liechtenstein and Iceland, keep track of the transactions on the market in an electronic registry that ensures accounting of all allowances issued and records their ownership. Because of its virtual nature, the system is prone to illicit computer actions, and hackers have broken into the registries of several EU countries, stealing credits, the AFP reported Wednesday. Credits stolen from the Czech Republic were worth 7 million euros, it said. <br />
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The commission will make another announcement early next week, it said. "The Commission will proceed to determine together with national authorities what minimum security measures need to be put in place before the suspension of a registry can be lifted," it said.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">INFLATION DILEMMA FOR DOLLAR FANS</span><br />
Inflation alarms are going off all over the world, creating a big dilemma for dollar supporters. Support for the greenback is starting to wane as the U.S. is one of the few countries not suffering from an inflation problem, writes Nicholas Hastings.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">US HOME BUILDING DROPS </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Second-lowest number of US homes built in half a century in 2010 . Early data on U.S. housing from the Commerce Department left traders concerned about the strength of the key sector, as home construction in the U.S. fell by 4.3% to its lowest level in more than a year in December. Home construction in the U.S. falls to an adjusted rate of 529,000 in December, its lowest level in more than a year as builders cut back on new single-family homes, the latest sign of a moribund market. Economists were expecting starts to fall to just 554,000. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">US FACTORIES MADE A LITTLE PROGRESS</span><br />
U.S. manufacturing has begun creating more jobs than it eliminates for the first time in more than a decade. The number of manufacturing jobs in the U.S. last year grew 1.2%, or 136,000, and is expected grow again this year.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">US MORTGAGE APPLICATION VOLUME RISES 5%</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Volume of mortgage applications filed in the U.S. last week rise a seasonally adjusted 5% from the previous week, the Mortgage Bankers Association reports, as refinancing applications increase 7.7%.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">MIXED SIGNALS IN CURRENCY FOREX MARKETS </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Peculiar patterns in the currency markets show that while key exchange rates hold steady, the options market is warning of violent shifts ahead.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">SWISS FACE SERIOUS PROBLEMS ON STRONG FRANC</span><br />
Swiss Economics Minister Johann Schneider-Ammann says that the country faces a serious situation as result of the Swiss franc's recent appreciation, and would examine various ideas to help stabilize sectors affected by the currency's gains.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">UK & US CONSUMERS SQUEEZED BY </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">HIGH FOOD ENERGY INFLATION, LOW WAGE GROWTH</span><br />
U.K. consumers face a brutal squeeze in 2011 as wage increases fail to keep pace with soaring inflation and the threat of rising unemployment tempers people's ability to negotiate pay increases, Ainsley Thomson writes. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">U.S. UNION PROTESTERS DISRUPT BANKER'S CONFERENCE</span> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">A group of more than 200 union protesters shut down a Mortgage Bankers Association conference for about 10 minutes on Wednesday, taking over the stage to protest against home builder PulteGroup Inc.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Laborers' International Union of North America, the Sheet Metal Workers' International Association, the International Union of Painters and Allied Trades and the AFL-CIO organized the protest, union members said. They say Pulte has laid off workers and question whether the Michigan-based company has created jobs. The labor groups are also upset that Pulte uses contractors that don't hire unionized workers.Unions have been pressing Congress to assess how Pulte spent about $900 million in government tax breaks meant to help spur job creation and avoid layoffs. </span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">TUESDAY: </b><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">CONSUMER CONFIDENCE DECLINES</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">US ABC News Consumer Confidence Index -43 In Jan 16 Week</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">US NAHB HOUSING INDEX UNCHANGED</span><br />
Sentiment in the U.S. housing construction market remains pessimistic, with the National Association of Home Builders' housing market index remaining flat at 16 in January, despite signs of improvement elsewhere in the economy.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">FANNIE MAE LIFTS ESTIMATE FOR ECONOMIC GROWTH</span><br />
Fannie Mae sees the U.S. economy growing 3.6% for 2011, citing stronger consumer spending and growing lobal policy clarity. It also expects a small rise in home sales this year, although foreclosures will continue to hamper the housing picture.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: large;"><span style="font-family: "times" , "times new roman" , serif;">NY MANUFACTURING INDEX RISES IN JANUARY</span></span><br />
New York manufacturing activity begins the year on a high note, with further expansion and large improvement in employment, according to the New York Feds Empire State Manufacturing Survey.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">US REGULATORS TO CHANGE MORTGAGE</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;"> SERVICE FEE SYSTEM</span><br />
Federal housing regulators will develop a new payment system for mortgage servicing companies, which have been battered by paperwork errors and widespread consumer complaints. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">CHINA NET SELLER OF US TREASURYS </span><br />
Foreigners are net buyers of long-term U.S. financial assets in November, according to the monthly Treasury International Capital report, known as TIC. China's holdings fall $11.2 billion to $895.6 billion, but remains the largest foreign holder.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">CREDIT CARD DELINQUENCIES FLAT</span>.<br />
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<i><b><span style="font-family: "arial" , "helvetica" , sans-serif;">American Express 30-Day Delinquencies 2.1% In Dec Vs 2.2% Nov</span></b></i><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"></span><span style="font-family: "arial" , "helvetica" , sans-serif;"></span><span style="font-family: "arial" , "helvetica" , sans-serif;"> American Express Co. (AXP) said Tuesday in a regulatory filing the number of U.S. card loans with payments past due fell to 2.1% in December from 2.2% in November. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The 30-day delinquency rate, a key gauge of future losses, is important because higher delinquencies force issuers to set aside capital to reserve for potential losses. Ultimately, companies must write off loans if customers can't repay them. For AmEx, delinquencies peaked at 5.3% in February last year. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">AmEx also said Tuesday, in a filing with the U.S. Securities and Exchange Commission, 30-day delinquency rates fell to 2.1% in the fourth quarter, according to preliminary data, from 2.5% in the third quarter. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">This monthly report card on the performance of credit card loans, including those packaged into bonds, offers a window into the creditworthiness of the affluent, who make up the bulk of AmEx's consumer base. The New York-based lender is leading the pack in improving credit trends among the major U.S. issuers of plastic. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The next challenge for American Express, which has reported improving credit trends since the start of the year, will be the growth of its book of card loans. To fight losses from card loans, AmEx and its peers have been scaling back on credit in the last several months and getting tougher about lending standards. Now, with the worst likely behind them, they have the balancing act of increasing lending to spur revenue and not loosening standards. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"></span><span style="font-family: "arial" , "helvetica" , sans-serif;"> AmEx said Tuesday it wrote off an annualized 4.4% of its U.S. card loans in the fourth quarter, citing preliminary data, down from 5.2% in the third quarter. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">In December, the company wrote off 4.1% of its U.S. card loans, down from 4.4% in November. Write-offs peaked in April at 10.1%. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">As of December, the company's book of average card loans, including those packaged into bonds, totaled $49.8 billion. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The company's shares recently traded at $46.31, up 0.1%. The stock has traded in the range of $36.60 and $49.19 over the last 52 weeks. </span><br />
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<span style="font-size: x-large;">U.S. EQUITY NEWS:</span></div>
<b><span style="font-family: "arial" , "helvetica" , sans-serif;">FRIDAY: </span></b><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">SUNTRUST BANKS SWINGS TO PROFIT</span><br />
SunTrust Banks swings to a 4Q profit of $185 million, or 23c a share, due to loan-loss provisions falling to $512 million from $974 million a year earlier and improved revenue climbing 19% to $2.33 billion. Shares are up 5%.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">HSBC TO LAY OFF 500</span><br />
HSBC will lay off about 500 employees as it ends its credit card customer service and collections operations in New Castle, Del., Reuters reports. HSBC will continue insurance underwriting and insurance customer service operations at the center.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">PEP BOYS SAID TO EXPLORE POSSIBLE SALE</span><br />
Auto service and parts retailer Pep Boys-Manny, Moe & Jack is considering a sale of the company and is working with Bank of America to explore strategic options, Bloomberg News reports.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">GE PROFIT JUMPS 51% AS REVENUE EDGES UP</span><br />
Conglomerate's 4Q profit rises 51% to $4.54 billion, or 42c a share, on lower costs, a slight rise in revenue and a lower-than-expected tax rate. Earnings from continuing operations come in at 36c a share, better than analysts' views of 27c. Shares rise 5%. <br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">SCHLUMBERGER PROFIT RISES 31%</span><br />
Schlumberger's 4Q earnings rise 31% to $1.04 billion, or 76c a share, as the oil-field services company benefits from a rebound in North American drilling and its Smith International acquisition. Shares up 2%.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">WARNER MUSIC SEEKS POTENTIAL BUYERS</span><br />
Warner Music enlists Goldman Sachs to seek buyers for part or all of its business, which could lead to the sale or breakup of the third-largest music company, two people familiar with the matter tell The Wall Street Journal. Shares leap 22%. <br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">S&P DOWNGRADES SYSCO</span><br />
Standard & Poor's downgrades Sysco a notch, citing the risk that food and fuel costs could pressure its margins. S&P says Sysco's risk profile is "somewhat riskier than previously assumed" and margins could decline.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">ICBC TO GAIN ACCESS TO US RETAIL BANKING</span><br />
Industrial & Commercial Bank of China will acquire a majority stake in Bank of East Asia's U.S. subsidiary, becoming the first Chinese bank to make an acquisition of a U.S. deposit-taking institution.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">H-P SHAKES UP ITS BOARD OF DIRECTORS</span><br />
Hewlett-Packard says it is replacing four board members and adding a fifth, part of sweeping changes that come less than six months after the exit of former Chief Executive Mark Hurd. <br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">GOOGLE TURNS THE PAGE ON SCHMIDT</span><br />
Google's decision to replace Eric Schmidt with co-founder Larry Page suggests the search giant wants more nimble management as it fights Facebook, Martin Peers writes. <br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">BANK OF AMERICA LOSS WIDENS</span><br />
Bank's 4Q loss widens to of $1.24 billion, weighed down by charges from pre-announced settlements and writedowns related to mortgage problems. Excluding the writedown, Bank of America earns 4c a share. Shares dip 1%. <br />
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<b>THURSDAY:</b> </div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">BOEING TO CUT 1,100 JOBS AS IT REDUCES OUTPUT</span><br />
Boeing plans to cut about 1,100 jobs through the end of next year as it pares production of a line of transport aircraft. The cuts come as the aerospace and defense giant plans to reduce annual production of its C-17 Globemaster III airlifters. </div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">MORGAN STANLEY NET UP 35% AS REVENUE RISES</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The bank says 4Q profit rose to $836 million, or 41c a share, topping estimates, as revenue climbs across its investment banking, wealth and asset management businesses. But trading activity dips with an industry-wide slowdown.</span><br />
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<span style="font-size: large;"><span style="font-family: "times" , "times new roman" , serif;">UNITEDHEALTH PROFIT RISES 10% AS COSTS DROP</span></span><br />
UnitedHealth Group's 4Q earnings rise to $1.04 billion, or 94c a share, as the health insurer sees medical claims costs decline in relation to revenue. The company affirmed its 2011 earnings guidance. Shares dip 2%. </div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">PNC NET DOWN 26% ON PRIOR-YEAR GAIN</span><br />
PNC Financial Services Group 4Q profit drops to of $820 million, or $1.50 a share, following a big year-earlier gain, but adjusted earnings top analysts' expectations as revenue fell less than expected. </div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">TYCO ELECTRONICS NET UP 54% AS SALES JUMP</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Tyco Electronics' fiscal 1Q earnings climb 54% to $265 million, or 59c a share, as sales jump, especially in its two biggest segments, helped by an acquisition. The company also raised its outlook for the full year. </span><br />
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<b>WEDNESDAY: </b></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">CITIGROUP NAMES JOHN HAVENS NEW PRESIDENT</span><br />
Citigroup CEO Vikram Pandit names John Havens as president and chief operating officer. The move is part of a structural overhaul meant to address the bank's efforts to expand.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">GE CAPITAL UNIT TO BUY TJX CREDIT-CARD PROGRAMS</span><br />
General Electric's consumer-finance unit agrees to acquire discounter TJX's U.S. consumer credit-card programs from J.P. Morgan Chase. Completion of the $400 million portfolio acquisition is expected in the second quarter. Terms weren't disclosed.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">GOLDMAN SACHS PROFIT DROPS 52% REVENUE SLIDES</span><br />
Bank's 4Q profits sink to $2.39 billion, or $3.79 a share, as revenue falls more than analysts expected. Investment banking revenues fall 10%, and trading and securities services revenues are down 31%. Shares fall 2%.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">WELLS FARGO PROFIT RISES 21%</span><br />
Bank's 4Q earnings climb to $3.41 billion, or 61c a share, on stronger-than-expected revenue as $850 million is released from reserves due to improved portfolio performance.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">AMR LOSS NARROWS AMID IMPROVED BUSINESS TRAVEL</span><br />
AMR's 4Q loss narrows to $97 million, or 29c a share, as the parent of American Airlines sees revenue improve amid a stronger business travel market and improved fare trends. Shares are up 2%.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">AMERICAN EXPRESS TO CUT 550 JOBS IN RESTRUCTURING</span><br />
American Express will cut about 550 jobs as it consolidates some facilities. The firm also projects 4Q earnings of 94c a share, under analysts' projections of 95c. Shares are down 3%.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">BANK OF NEW YORK MELLON PROFIT JUMPS 15%</span><br />
Bank of New York Mellon and State Street 4Q results show their services remain in high demand as higher stock-market values and increased volatility help boost fee collections, but Northern Trust fails to keep up with falling interest income. The bank's 4Q profit climbs 15% to $679 million, or 54c a share. Excluding items, earnings reach 65c cents, beating analysts' expectations of 57c a share, as fee revenue rose and managed assets hit a record level.</div>
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<b>TUESDAY:</b></div>
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<span style="font-size: large;"><span style="font-family: "times" , "times new roman" , serif;">CITI SWINGS TO PROFIT AS REVENUES SURGE</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Bank posts 4Q profit of $1.31 billion, or 4c a share, turning around a year-ago loss of $7.58 billion, but below analysts expectations of an 8c profit. Revenue more than doubles and it sets aside sharply less to cover potential losses. Shares down 4%.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">DELTA AIR POSTS PROFIT ON STRONGER REVENUE</span><br />
Airline reports its first 4Q profit in a decade on improved revenue from ticket sales and other products and services, such as its frequent flier program. But earnings of $19 million, or 2c a share, miss analysts' expectations and its shares dip 5%.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> <span style="font-size: large;"><span style="font-family: "times" , "times new roman" , serif;">APPLE SHARES FALL AS JOBS TAKES MEDICAL LEAVE</span></span><br />
Apple shares slip 4%, erasing about $15 billion in market value, after the consumer electronics maker discloses that CEO and company visionary Steve Jobs will take another unexpected medical leave.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">GOLDMAN'S FACEBOOK OFFERING</span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: large;"> EXCLUDES US CLIENTS</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Goldman Sachs says it will exclude U.S. clients from the private offering of as much as $1.5 billion in shares of social-networking company Facebook, citing "intense media attention."</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">CHARLES SCHWAB 4Q NET DOWN 27% ON CHARGE</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"></span><span style="font-family: "arial" , "helvetica" , sans-serif;">Charles Schwab's 4Q earnings fall 27% to of $119 million, or 10c a share, on a charge related to settlements stemming from its troubled YieldPlus fund. Profit meets analysts' expectations. Revenue climbs 14% to $1.13 billion in period.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">FOREST LABORATORIES' NET UP AS DRUG SALES RISE</span><br />
Forest Laboratory's fiscal 3Q profit rises 53% to $320.7 million, or $1.11 a share, on strong sales of the pharmaceutical company's Alzheimer's and dementia treatment. Shares rise 2%. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">COMERICA PAYING $1.03B FOR STERLING BANCSHARES</span><br />
Comerica plans to acquire Sterling Bancshares for $1.03 billion in stock while also reporting a swing to a bigger-than-expected 4Q profit and setting aside less to cover loan losses. Sterling shares up 18%, Comerica down 7%. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">GE TO BUILD AT LEAST 50 POWER GENERATORS IN CHINA</span><br />
General Electric discloses a five-year joint venture with China Huadian to produce and install at least 50 gas turbine generator sets in China ahead of Chinese President Hu Jintao's state visit to the U.S. Tuesday. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">FORD TO INVEST $400M AT KANSAS CITY</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;"> ASSEMBLY PLANT</span><br />
Ford Motor plans to invest $400 million in its Kansas City assembly plant to build a new vehicle replacing production of the Escape sport-utility vehicle, which will be moved to another plant later this year. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">TNK-BP INTERESTED IN ROSNEFT SHARES</span><br />
BP's Russian joint venture TNK-BP would be interested in buying shares in Kremlin-controlled Rosneft, the Interfax news agency reports, citing Maxim Barsky the joint venture's deputy chief executive and future head. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">RUSSIA'S ESPO CRUDE MAY BECOME ASIAN BENCHMARK</span><br />
Russia's new ESPO blend of crude oil, a rising star in Asian Pacific oil markets, may become a regional oil benchmark, although in the short term, volumes available internationally might fall, the International Energy Agency says.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">PETROFAC GETS $1.2B IN SALAH GAS EPC PACT IN ALGERIA</span><br />
Petrofac says it has been awarded a $1.2 billion engineering, procurement and construction, contract by In Salah Gas a dry gas project in Algeria between Sonatrach, BP and Statoil to develop southern fields in the development.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">BOEING SEES 787 DELIVERIES STARTING IN 3Q</span><br />
Boeing expects to deliver its first 787 Dreamliner in the 3Q, its first such prediction since an electrical fire and power failure in November forced a month-long suspension of flight testing on the long-delayed aircraft. </span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">FCC, JUSTICE APPROVE COMCAST BUY OF NBC UNIVERSAL </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The Federal Communications Commission and the Justice Department approve Comcast's acquisition of control of NBC Universal from GE, setting the stage for the cable giant to complete the deal shortly.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>FRIDAY:</b> </span><br />
<span style="font-size: x-large;"><span style="font-family: "georgia" , "times new roman" , serif;"><span style="font-family: "times" , "times new roman" , serif;">Toronto Stocks Closed Lower Friday</span> </span></span><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">TSX closed down 72.75 points to 13,258.57. S&P/TSX Composite Index — 13,258.57 down 72.75 points.TSX Venture Exchange — 2,265.58 up 17.90 points. Cdn 100.46 cents US, up 0.17 of a cent. The stock market was flat at midday Friday, as energy producers and fertilizer giant Potash Corp. of Saskatchewan helped to offset declines among the gold miners. <br />
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At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was up just 0.65 points at 13331.97. Declines led advances 698 to 693. Trading volume was 225.3 million shares. The S&P/TSX 60 Index was down 0.27 points to 763.78. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The market opened higher Friday led by energy and materials. The Canadian dollar is up 0.53 of a cent to 100.82 cents US at 11 a.m. ET Friday against a lower U.S. dollar. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The loonie rose 0.27 of a cent to 100.56 cents US.</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> The TSX Venture Exchange opened on Friday at 2,255.41, up 7.73 points. </span><br />
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Statistics Canada reported Friday that sales increased 1.3 per cent to $37.3 billion, reflecting growth at most store types. This marks the sixth consecutive monthly rise in sales and was the largest increase since March 2010. It was also a much higher than the 0.4 per cent rise that economists expected.</div>
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The March crude contract on the New York Mercantile Exchange rose 19 cents to US$89.78 a barrel. Gold prices were slightly lower with the February bullion contract on the Nymex down $1.60 to US$1,344.90. The March copper contract in New York rose two cents to US$4.29.</div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Toronto Indexes, Friday Volume; 2 PM EST Composite Up 8.10</b><br />
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S&P/TSX Composite 13339.42 up 8.10 or 0.1%<br />
S&P/TSX 60 Index 764.38 up 0.33 or 0.0%<br />
Financials 184.75 off 0.82 or 0.4%<br />
Materials 416.23 off 1.24 or 0.3%<br />
Energy 326.06 up 3.37 or 1.0%<br />
Industrials 114.15 off 0.14 or 0.1%<br />
IT 31.52 off 0.35 or 1.1%<br />
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<b>Volume Friday Thursday</b><br />
1-2 46.6M 49.5M<br />
9:30-2 340.2M 406.6M</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY: </b><b> </b></span><br />
<span style="font-size: x-large;"><span style="font-family: "georgia" , "times new roman" , serif;"><span style="font-family: "times" , "times new roman" , serif;">Toronto Stocks Close Lower Thursday</span> </span></span><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The stock market was lower again Thursday, led by a rise in the U.S. Dollar and weakness in resource and energy stocks. Also China's strong economic growth will lead to more credit tightening measures that could damp demand for commodities. The Loonie declined against the dollar. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The currency, which has closed above parity every day since Dec. 30, lost 0.48 of a cent to 99.97 cents US. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">According to closing data, the S&P/TSX Composite Index fell 107.72 points, or 0.80%, to 13331.32, declines exceeded advances 1162 to 531 and trading volume was 572.50 million shares, up from Wednesday's total of 554.7 million shares. The S&P/TSX 60 Index closed down 5.91 points, or 0.77%, to 764.05. <br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The March copper contract on the New York Mercantile Exchange dropped 12 cents to US$4.25 a pound. </span>The February crude contract on the Nymex fell $2.62 to US$88.24 barrel. Also driving oil prices lower were data showing that crude inventories increased by 2.6 million barrels last week in the U.S. Gold prices also weakened as the February bullion contract in New York was down $25.70 at US$1,344.50 an ounce.</div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">At Mid-day, the S&P/TSX Composite Index was down 192.02 points, or 1.4%, at 13247.02. Declines led advances 1,182 to 316. Trading volume was 271 million shares. The S&P/TSX 60 Index was down 10.55 points, or 1.4%, to 759.41. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY:</b> </span><br />
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<span style="font-size: x-large;"><span style="font-family: "georgia" , "times new roman" , serif;">Toronto Stocks Lower </span></span><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The stock market was lower at Wednesday, led by weakness in resource and energy stocks.Toronto stocks closed lower Wednesday, led by mining and energy stocks, as disappointing economic data dented optimism about the economic recovery. <br />
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The S&P/TSX Composite Index fell 120.16 points, or 0.9%, to 13439.04. Declines exceeded advances 1,013 to 685. Trading volume was 554.7 million shares, down from Tuesday's total of 627.3 million shares. The S&P/TSX 60 Index closed down 7.35 points, or 0.9%, to 769.96. . The TSX Venture Exchange stood at 2,298.27 up 5.76 points at noon on Wednesday. </span><br />
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The Canadian dollar lost early strength to move lower Wednesday as commodity prices also lost early gains and traders took in a surprising slowdown in manufacturing in November.</div>
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The loonie was down 0.11 of a cent at 100.61 cents US as Statistics Canada reported that manufacturing sales declined 0.8 per cent in November to $44.9 billion, led by decreases in the motor vehicle and motor vehicle parts industries.Economists had expected an increase of 0.5 per cent. <span style="font-family: "arial" , "helvetica" , sans-serif;">The Canadian dollar opened on Wednesday at 101 cents US, up 0.28 of a cent. </span><br />
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Nine of Toronto's 10 sector indexes were lower amid profit-taking and renewed concern over the economy. Only the health care index bucked the trend, rising 0.1%. <br />
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Statistics Canada said Wednesday manufacturing sales fell 0.8% in November, led by slower activity in the motor vehicle and auto-parts industry. That's well short of the 0.3% increase economists had been expecting. The materials group, which rallied 36% last year, fell 1.3% despite higher prices for gold, copper and other metals. </div>
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At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was down 67.20 points, or 0.50%, at 13492.00 and declines led advances 819 to 625. Trading volume was 243.00 million shares. The S&P/TSX 60 Index was down 4.48 points, or 0.58%, to 772.83 points. </span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">TUESDAY:</span></b><br />
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<span style="font-size: x-large;"><span style="font-family: "georgia" , "times new roman" , serif;">Toronto Stocks Mixed to Higher</span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Toronto stock exchange closed higher Tuesday, led by the raw-materials producers, as increasing demand from China lifted commodity prices amid concern that consumption will outstrip global supplies. A softer U.S. dollar also lifted gold futures. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The Canadian dollar was lower Tuesday as the Bank of Canada announced it was leaving its key interest rate unchanged. The loonie fell 0.58 of a cent to 100.72 cents US as the central bank also raised its 2011 growth forecast to 2.4 per cent from 2.3 per cent.</span><br />
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The S&P/TSX Composite Index rose 119.09 points, or 0.9%, to 13559.20. Advances exceeded declines 1,021 to 692. Trading volume was 627.3 million shares, almost double Monday's total of 315.7 million shares. The S&P/TSX 60 Index closed up 6.97 points, or 0.9%, to 777.31. TSX Venture Exchange closed 17.06 points higher to 2,292.51 on Tuesday. The volume was 490.17 million shares.<span style="font-family: "arial" , "helvetica" , sans-serif;"> </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">CANADIAN ECONOMIC NEWS:</span></span><br />
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<b>THURSDAY: </b></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">WHOLESALE SALES SHOW GAINES 1.2% </span></div>
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Wholesale sales were up for the fourth straight month in November, rising 1.2 per cent to $45.7 billion. Statistics Canada attributes the increase largely to higher sales in the machinery, equipment and supplies subsector, the miscellaneous subsector, and the food, beverage and tobacco subsector. In volume terms, wholesale sales were up 1.3 per cent.</div>
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The agency reports gains in all subsectors except vehicle and parts. Excluding vehicle and parts, wholesale sales were up 2.4 per cent. The largest increase came in the machinery, equipment and supplies subsector, where sales rose 4.5 per cent to $9.7 billion in November, their highest level since November 2008.</div>
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Sales in the miscellaneous subsector rose 2.9 per cent, while food, beverage and tobacco was up 1.8. The motor vehicle and parts subsector dropped 4.2 per cent, largely due to a significant decrease in sales in the motor vehicle industry (down 6.8 per cent). Wholesalers in eight provinces reported higher sales in November. Only wholesalers in Ontario and Nova Scotia were hit with declines.</div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">Canada To Auction C$3B Of 1.75% 2013 Bonds On Jan. 26</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The Canadian government said it will auction on Jan. 26 C$3 billion (US$3 billion) of 1.75% bonds due March 1, 2013. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The issue will be dated and delivered Jan. 28. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The new 1.75% bonds due March 1, 2013 are in addition to C$12.6 billion of like bonds now outstanding and will be issued with accrued interest from September 1, 2010 to January 28, 2011. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Proceeds from the issue will be used for general government purposes. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The Bank of Canada will acquire a minimum of C$450 million of the new bonds. </span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">WEDNESDAY: </span></b><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">Canada Not Gaining From Better US Outlook</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Canada isn't benefiting from an improved U.S. outlook because a strong currency and poor productivity have led to a loss of competitiveness, Bank of Canada Governor Mark Carney said Wednesday. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Carney also said U.S. fiscal stimulus measures are heavily weighted to the household sector whereas Canada's main exports to its largest trading partner are geared to the business sector. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">He said it's "absolutely essential" to restore Canada's competitive position to deal with a tough export environment. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">He said Canada has lost competitiveness in recent years against the U.S. and also other countries that export to the U.S., such as Mexico. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Carney said business investment, which rebounded in the summer, is "headed in the right direction," but has "a ways to go" to return to pre-recession levels. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> "It's absolutely essential to start to rebuild this competitive position in what is a tougher external environment. And we expect to be a tougher external environment for some time," Carney said at a news conference after the Bank of Canada released its quarterly Monetary Policy Report.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">Manufacturing Sales Decline in November </span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Manufacturing sales declined 0.8 per cent in November to $44.9 billion, led by decreases in the motor vehicle and motor vehicle parts industries. </span>Statistics Canada reports manufacturing sales edged up 0.2 per cent when the motor vehicle industries were excluded.</div>
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Constant-dollar manufacturing sales fell 1.4 per cent in November. Higher sales were reported in 12 of 21 industries, representing 55.2 per cent of total manufacturing. Sales in the transportation equipment industry fell seven per cent, led by declines in motor vehicle (down 9.2 per cent) and motor vehicle parts (down 6.5) manufacturing.</div>
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Primary metal sales also declined, down 1.9 per cent, though they remained 22.9 per cent higher than a year earlier. Outside of the transportation and primary metal industries, many manufacturers reported gains over October.</div>
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Computer and electronic product sales led the gains, rising 5.1 per cent. Food manufacturing (up 0.7 per cent), as well as beverage and tobacco product sales (up 2.9), rose for the first time in four months. Petroleum and coal product sales advanced one per cent in November, their fifth straight increase. Seven provinces reported sales gains. However, these advances were more than offset by declines in New Brunswick, Alberta, and in particular, Ontario, where sales dropped 2.3 per cent. Manitoba led the provincial sales advances in November, increasing 7.6 per cent following a 6.1 per cent drop in October.</div>
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Nationally, inventory levels increased 1.3 per cent in November to $61.1 billion. Unfilled orders advanced 0.5 per cent to $52.7 billion in November, the first increase in three months.</div>
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New orders advanced 1.6 per cent.</div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY:</b> </span><br />
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<span style="font-size: large;">Bank of Canada leaves rates unchanged, ups growth forecast.</span></div>
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The Bank of Canada announced it was leaving its key interest rate </div>
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unchanged at one per cent and left traders thinking the bank is in no </div>
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rush to raise rates.</div>
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"The global economic recovery is proceeding at a somewhat faster pace than the bank had anticipated, although risks remain elevated," the Bank of Canada said in a statement.</div>
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"The recovery in Canada is proceeding broadly as anticipated, with a period of more modest growth and the beginning of the expected rebalancing of demand."</div>
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Although the central bank's statement yielded no clues as to when it may start raising rates, many economists expect a move up later this year.</div>
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"We maintain our call that the Bank of Canada is more likely to wait until July to raise the overnight rate," said Pascal Gauthier, senior economist at TD Bank. He noted that the central bank's next interest rate announcement is only six weeks away and its communique did not signal a hike at the March 1 announcement.</div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>MONDAY: </b>Statistics Canada said non-residents added a further</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> $8.0 billion to their portfolios in November, again focusing on bonds. </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Canadian acquisitions of foreign securities reached an 8-month high</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> of $5.8 billion in November, led by the largest investment in foreign </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">bonds since March 2007.<br />
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Canada tightened mortgage lending rules to curb household debt. </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">The maximum amortization period for government-insured mortgages</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> will be reduced to 30 years from 35 years and that of the maximum </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">loan amount to 85% from 90% of the value of the property.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">China sovereign-wealth fund to open Toronto office</span><br />
China's sovereign-wealth fund is preparing to open an office in Toronto, <br />
snubbing the financial centers of New York and London to focus on ramping <br />
up its investments in resource-rich Canada, the Globe & Mail reported <br />
Wednesday. China Investment Corp. will formally announce plans for the <br />
office next week, the report said. CIC's Chairman Lou Jiwei will reportedly <br />
be in the Canadian city to attend the opening. In November, CIC announced <br />
plans to open a wholly owned unit in the self-governed Chinese territory of <br />
Hong Kong to further its overseas investments. CIC was founded in 2007 with <br />
1.6 trillion yuan ($200 billion) drawn from China's vast foreign-exchange <br />
reserves as part of plans to help diversify the nation's assets.<br />
<br />
<a href="http://www.marketwatch.com/story/china-sovereign-wealth-fund-to-open-toronto-office2011-01-12%20">http://www.marketwatch.com/story/china-sovereign-wealth-fund-to-open-toronto-office2011-01-12 </a> </span></span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">COMPANY NEWS:</span></span></b><br />
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<b>FRIDAY:</b> Copper Canyon Resources Ltd. (TSXV:CPY) board to respond by Feb. 2 to an unsolicited, $34.1-million all-stock takeover offer from NovaGold Resources Ltd. (TSX:NG). </div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY:</b> Royal Bank of Canada fell 0.13 to 54, while Toronto-Dominion Bank declined 0.42 to 76.10. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Research In Motion dropped 1.77 to 63.05 after Apple reported on Tuesday a 78% jump in first-quarter profit, reminding investors that Apple remains a formidable competitor in the smartphone and tablet market. <br />
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Bombardier rose 0.11 to 5.77 after saying that the new international financial accounting standards won't impact its cash flow or its fundamental business. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Magnum Hunter Resources Corp. (NYSE:MHR) agrees to acquire oil and gas producer NuLoch Resources Inc. (TSXV:NLR) for US$327 million. </span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">N.S. Wind Turbine Plant On Track For Startup in May</span></b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">A spokesman for Daewoo Shipbuilding and Marine Inc. says the company remains on track to begin manufacturing wind turbine components at its plant in Trenton, N.S.</span><br />
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Brad Murray says work on the steel tower components of the wind turbines is scheduled to begin in May after equipment has been installed at the former TrentonWorks rail car plant.</div>
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Murray says old equipment in the plant has been removed and the installation of the new equipment is set to begin on Friday.</div>
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He says the facility has 36 employees including 20 support staff and 16 plant workers consisting of millwrights, electricians, carpenters and engineers. Murray says further recruitment is underway and it's expected about 130 workers will be hired by the time production begins on the turbine towers. Up to 400 workers are expected to be hired by the time the operation is ready to manufacture turbine blades by the end of the year.</div>
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<b>Teck Resources to Report Lower Yield </b></div>
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Teck Resources (TSX:TCK.B) expects coal sales to range between five million and 5.5 million tonnes in the first quarter as it deals with avalanche conditions in British Columbia and a mechanical failure at an export terminal.</div>
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The Vancouver-based mining company said the forecast for the three-month period ending March 31 compares with sales of 5.25 million tonnes in the same period a year earlier.</div>
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For the full year, the company expects sales to come in at 24.5 million to 25.5 million tonnes.</div>
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"The foregoing estimates assume no interruption of production due to labour disturbances, and a reasonably prompt resumption of normal levels of rail service," the company said Wednesday.</div>
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Teck said avalanches in and around the Rogers Pass area of British Columbia are affecting train service and weather is affecting recommissioning of a coal dryer at its Greenhills Mine.</div>
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Canadian Pacific Railway Ltd. (TSX:CP) declared force majeure on Monday because of the avalanche conditions, which have slowed rail service.</div>
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Teck said it was continuing negotiations following the expiration of a collective agreement at its Elkview mine, while the agreement at its Fording River operation is set to expire in April.</div>
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<b>TUESDAY:</b> TransCanada's Wyoming-to-North Dakota pipeline comes into service. Natural gas is now flowing on TransCanada Corp.'s new Bison pipeline, which stretches from Wyoming to North Dakota.<br />
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The Calgary-based pipeline and utility giant (TSX:TRP) said Tuesday the 487-kilometre came into service last week. The line is able to ship 407 million cubic feet per day of natural gas under long term contract. With additional compression, it can transport up to one billion cubic feet per day.<br />
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Bison is the first TransCanada pipeline to tap into the U.S. Rocky Mountain region. The gas is bound for markets in the U.S. Midwest. "The Rockies was one of the last major North American producing basins that we weren't connected to," said chief executive Russ Girling in a statement.<br />
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"Bison provides new options both to producers in the Powder River Basin and to consumers in the Midwest." Bison is one of six new projects TransCanada has brought into service over the past 10 months. Others include: the first phase of the Keystone crude pipeline from Alberta to the Midwest; the North Central Corridor natural gas pipeline across northern Alberta; the Groundbirch pipeline in British Columbia; the Kibby wind project in Maine and the Halton Hills power station in Ontario.<br />
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DundeeWealth has announced a special dividend to shareholders as part of its obligation under a takeover offer by Scotiabank (TSX:BNS). Holders of its common shares (TSX:DW) will get $2 cash plus one common share of Dundee Capital Markets Inc. as a special dividend.</div>
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Holders of Series X first preference shares will get a special dividend of $1.67 cash plus 0.83 share of Dundee Capital Markets Inc. The special dividend will be paid on Jan. 31 to shareholders of record on Jan 28.</div>
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Scotiabank announced it has extended its offer for all of DundeeWealth's shares until Feb. 1, to allow time to get the required regulatory approvals.</div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><b>MONDAY</b>: property and casualty insurance services provider Fairfax Financial Holdings said that First Mercury Financial Corp.'s stockholders have voted in favor of its acquisition of First Mercury for $16.50 per share in cash.<br />
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Broadband services provider Craig Wireless Systems reported a narrower first quarter net loss of $2.7 million or $0.05 per share compared to $4.1 million or $0.08 per share in the year ago quarter .</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Metals mining company Platinum Group Metals slipped in to the red in first-quarter, reporting net loss of C$4.34 million or C$0.03 per share, compared with a net profit of C$592,000 or C$0.01 per share in the prior year quarter. The gain in the comparative period was due to the sale of investments.<br />
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Green structural building technology services provider Genesis Worldwide stated that it has made application to voluntarily delist its common shares from the TSX, effective February 12 or earlier.<br />
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Specialized broadband wireless systems provider Redline Communications swung to profit in third quarter 2010, reporting net income of $1.1 million or $0.05 per share, compared with a loss of $2.9 million or $0.14 per share in the same period last year.<br />
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Heavy oil development company Ivanhoe Energy said it has made a second natural gas discovery in less than a month at its subsidiary Sunwing in southwest China.<br />
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International technology and services company Pure Technologies aid that Dallas City Council has awarded three-year service contract worth up to $8.5 million to its wholly-owned subsidiaries, Pure Technologies U.S. Inc. and Pressure Pipe Inspection Company (USA) Inc.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<b>(FRIDAY, JAN 21, 2011 4:00 PM EST)</b><br />
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EUR/USD 1.3598 +0.0130 (0.97%)<br />
USD/JPY 82.6100 -0.4300 (-0.52%)<br />
GBP/USD 1.6001 +0.0099 (0.62%)<br />
USD/CAD 0.9947 -0.0030 (-0.30%)<br />
USD/HKD 7.7902 +0.0068 (0.09%)<br />
USD/CNY 6.5831 -0.0021 (-0.03%)<br />
AUD/USD 0.9896 +0.0024 (0.24%)<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> <span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<b>(FRIDAY, JAN. 21, 2011: 4:00 PM EST)</b><br />
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Shanghai 2,715.95 +38.29 (1.43%)<br />
Nikkei 225 10,274.52 -162.79 (-1.56%)<br />
Hang Seng Index 23,876.86 -126.84 (-0.53%)<br />
TSEC 8,954.38 +26.31 (0.29%)<br />
FTSE 100 5,896.25 +28.34 (0.48%)<br />
DJ EURO STOXX 50 2,970.56 +43.14 (1.47%)<br />
CAC 40 4,017.45 +52.61 (1.33%)<br />
S&P TSX 13,258.57 -72.75 (-0.55%)<br />
S&P/ASX 200 4,755.70 -28.00 (-0.59%)<br />
BSE Sensex 19,007.53 -39.01 (-0.20%)</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">FRIDAY'S U.S. ECONOMIC CALENDAR:</span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">No Major U.S. Economic Calendar Friday. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">© Copyright 1999-2023, Online Consultancy Network™. All Rights Reserved.</span><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-49842316535364546472011-01-10T09:17:00.001-08:002022-01-01T08:04:02.264-08:00Stock Market Update - Jan. 10, - Jan. 14 2011 Mixed Economic Data<div style="font-family: Arial,Helvetica,sans-serif;">Stock Market Update<br />
Friday, January 14, 2011</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Market Note Monday U.S. Holiday: The U.S. Stock and bond markets will be closed Monday, January 17, 2011 <span style="font-family: Arial,Helvetica,sans-serif;">in observance of Martin Luther King, Jr. Day</span> </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines:</span><br />
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<b>USA EQUITY INDEXES: (FRIDAY, JAN. 14; 4:00 PM EST)</b></div><i> </i><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b><i><span style="font-family: Times,"Times New Roman",serif;">(Closing Index Numbers)</span></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>Dow Jones</b> 11,787.30 <span style="color: #274e13;">+55.40</span><b> </b></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>Nasdaq</b> 2,755.30 <span style="color: #274e13;">+20.01</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>S&P 500</b> 1,293.23 <span style="color: #274e13;">+9.48 </span><b><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>Dow Jones CLOSING Averages Friday, Jan. 14, 2011: DJIA 11,787.38 UP 55.48</b><br />
30 INDUS 11,787.38 UP 55.48 OR 0.47%<br />
20 TRANSP 5,228.30 DN 1.17 OR 0.02%<br />
15 UTILS 410.87 UP 1.53 OR 0.37%<br />
65 STOCKS 4,110.90 UP 12.35 OR 0.30%</div><span style="font-family: Arial,Helvetica,sans-serif;"><b></b></span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>US COMMODITY PRICES:<i> </i>(FRIDAY, JAN. 14; 3:00 PM EST)</b></div><span style="font-family: Arial,Helvetica,sans-serif;">Crude Oil 91.54 + 0.15%<br />
Natural Gas 4.48 + 1.59%<br />
Gasoline 2.49 +0.12%<br />
Heating Oil 2.64 +0.12%<br />
Gold 1359.77 - 1.00%<br />
Silver 28.41 - 1.01%<br />
Copper 4.42 + 1.33%</span><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">US DOLLAR FUTURES INDEX DXY; FRIDAY, JAN. 14, 2011: </span></b><i><b><span style="font-family: Arial,Helvetica,sans-serif;"> </span></b></i><br />
<b><span style="font-family: Arial,Helvetica,sans-serif;"><span style="color: red;"><span style="color: black;">3:08PM EST: 79.16 <span style="color: red;">Down 0.03 (0.04%)</span> <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. Dollar Lowers, Stocks Mixed Edge Higher, Commodities Mixed to Flat </span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY:</b> The U.S. equities market closed the week at a 30 month high, withe the Dow gaining more than 55 points to close at 11,787.38. The Nasdaq composite ended more than 20 points higher to close at 2755.30. The S&P 500 index gained 9.48 points to close out the week at 1293.24. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The financial sector led U.S. stocks to a 30-month high Friday following stronger-than-expected earnings from J.P. Morgan, while the materials sector declined. U.S. economic data came in with mixed results, with readings on the consumer coming in weaker than expected while measures of the business sector showed minor improvement. U.S. retail sales posted a smaller-than-expected increase of 0.6% in December, while the consumer sentiment index's reading for January unexpectedly fell. The Dow Jones Industrial Average rose 57 points, or 0.5%, to 11788, in recent trading. The Nasdaq Composite added 0.5% to 2750. The Standard & Poor's 500 index gained 0.6% to 1292. The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, was flat. The euro rose to $1.3354, from $1.3351 late Thursday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Before the bell, U.S. equities are lower as economic data, combined with material and energy issues are lower against the higher dollar. US stock futures remained lower Friday morning following a smaller-than-expected gain in US retail sales for December while another round of tightening from China also weighed. Dow Jones Industrial Average futures were recently down 46 points. U.S.consumer prices rose 0.5% in December, led by higher fuel and food prices. The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, edged up 0.1%. The euro rose to $1.3363, from $1.3351 late Thursday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>MARKET NOTE</b>: <b>Martin Luther King, Jr. Day</b><br />
In observance of Martin Luther King, Jr. Day, the equity market and bond market will be closed on Monday, Jan. 17. </span><br />
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<div style="color: #e06666; font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. BANK FAILURES:</span></div><span style="font-size: large;"><b>The FDIC Closed Banks Friday After Hours</b></span><br />
The U.S. Government FDIC regulators closed additional Banks late Friday and seized all assets.The Federal Deposit Insurance Corp announced it closed additional banks. <br />
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Oglethorpe Bank, Brunswick, GA., January 14, 2011<br />
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<i><span style="font-size: small;">To see the complete list of failed banks and credit unions visit:</span></i><br />
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<span style="font-size: large;">Online Consultancy Network™ Bank Failure List</span><br />
<a href="http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html">http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html</a> <br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY:</b> U.S. stocks weakened Thursday in the wake of largely disappointing U.S. economic data. The Dow Jones Industrial Average fell 23 points, or 0.2%, to 11731.The Nasdaq Composite edged down 2 points to 2735. The Standard & Poor's 500-stock index shed 0.17% to 1283.76. The dollar weakened against both the euro and the yen. The euro hit a one-week high against the dollar, trading recently at $1.3338, up from $1.3133 late Wednesday in New York.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">A set of bad U.S. economic data Thursday morning largely missed market expectations. The number of workers filing for initial jobless claims unexpectedly increased by 35,000 to 445,000 in the week ended Jan. 8, 2011.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Before the bell, we may see a mixed open Thursday morning. The dollar has declined from overnight trading against the Euro and a basket of currencies.The Euro is more than $1.31 in recent Trades. </span><span style="font-family: Arial,Helvetica,sans-serif;">US stock-index futures fell, signaling the Standard & Poor's 500 Index may retreat from the highest level since September 2008, after first-time jobless claims climbed more than economists estimated.</span><span style="font-family: Arial,Helvetica,sans-serif;"> U.S. futures indicated a weak open ahead of the latest data on jobless insurance claims and the U.S. trade deficit. The Dow Jones futures declined 13 points to 11,695, the Nasdaq futures were down two points to 2,307 and the S&P 500 futures were off a point to 1,284.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>WEDNESDAY</b>: U.S. stocks followed European equities higher as the dollar relaxed its upward movement against the Euro's gain. The euro vaulted past the $1.31 mark against the dollar in Wednesday afternoon trading. Gold futures eased alongside the dollar Wednesday morning, but energy sector remained strong. The Dow closed 83.56 points higher at 11,755. The Nasdaq closed 0.75% percent higher gaining 20.50 points to finish at 2737.33. The S&P closed at 1,285.96 gaining +11.48 points, almost a full percent higher (0.90%). </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">At mid-day the Dow Jones Industrial Average gained 104 points, or 0.9%, at 11776 in mid-day trading, while the Standard & Poor's 500-stock index added 12 points, or 0.9%, to 1286 and the Nasdaq Composite gained 19 points to 2736. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Dow Jones Industrial Average opened 55 points, or 0.5%, at 11728 in early trading, while the Standard & Poor's 500-stock index added six points, or 0.5%, to 1281 and the Nasdaq Composite gained eight points to 2725. European stocks rallied, and the euro rose 0.5% against the dollar. Commodities are leading the market higher today. The United States Oil Fund LP (NYSE: USO) is higher by 1.60%, trading at $38.78, +0.61. In addition, the SPDR Gold Trust (NYSE: GLD) finds itself higher on the day, trading at $134.57, +0.45 (+0.34%). </span><br />
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<div style="color: black;"><span style="font-family: Arial,Helvetica,sans-serif;">The New York Stock Exchange invoked "<i>Rule 48</i>" on Wednesday to smooth the opening of the markets today. The rule means that <u>designated market makers</u> will not have to disseminate price indications before the bell, making it easier and faster to open stocks. </span></div><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY</b>: </span><span style="font-family: Arial,Helvetica,sans-serif;">U.S. equity and commodity indexes closed higher Tuesday. After a shaky start to the earnings season, investors are hesitant to leave big bets in the market. But, as the dollar relaxed its lead against a basket of currencies in choppy trading, the market closed in a positive area for the week.The Dow closed 34.43 points higher to end at 11,671.88. The Nasdaq closed 9.03 points higher to end at 2716.83. The S&P 500 closed at 1274.48, 4.73 points higher.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The dollar relaxed its overnight gains. US stock index futures rose on Tuesday as fourth-quarter earnings season began with a profit from Alcoa that topped Wall Street targets and as concerns over European debt eased. The Dow Jones Industrial Average rose 51 points, or 0.4%, to 11688.The Nasdaq Composite climbed 0.5% to 2722. The Standard & Poor's 500 index added 0.5% to 1277, with its industrial and materials sectors leading the advance.The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, was flat. Treasurys were mixed, with the two-year note flat while the 10-year note fell, lifting its yield to 3.30%. Crude-oil futures advanced above $90 a barrel while gold futures also rose. </span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">MONDAY:</b><span style="font-family: Arial,Helvetica,sans-serif;"> U.S. stocks finished lower Monday in mixed choppy trading. The Dow closed lower by 37.31 points to end the day at 11, 637.45. NASDAQ closed slightly higher at 2707.8, gaining 4.63 points. The S&P 500 closed lower 1.75 points to finish at 1269.75.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">U.S. stocks opened lower Monday. The Dow Jones Industrial Average sank 60 points, or 0.5%, to 11615. The Nasdaq Composite fell 0.6% to 2688. The Standard & Poor's 500-stock index shed 0.5% to 1265. The euro edged above $1.29 and was trading recently at $1.2912, up slightly from $1.2905 in New York late Friday, following reports that the European Central Bank was buying bonds issued by highly indebted euro-zone countries. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">With no U.S. economic data Monday, stocks dipped in morning trading Monday ahead of the start of the latest round of quarterly earnings news. The market's focus turned toward Europe. The euro touched a four-month low against the dollar after German media reported over the weekend that France and Germany were pressuring Portugal to accept an Ireland-type bailout package from the International Monetary Fund and the European Union. Officials in Germany and France denied the report, but fears grew that Portugal and Spain could follow Greece and Ireland's steps in requesting financial aid from international lenders. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CRUDE OIL:</span><br />
<div style="text-align: left;"></div><b><span style="font-family: Arial,Helvetica,sans-serif;">FRIDAY: </span><span style="font-family: Arial,Helvetica,sans-serif;">$ 91.54 PER BARREL</span></b><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Arial,Helvetica,sans-serif;">FRIDAY OIL FUTURES: Nymex Crude Settles Up 14c At $91.54/Barrel </span><br />
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Oil futures declined Friday after China's central bank raised its reserve requirements, spurring fears of declining demand in the world's No. 2 oil consumer. <br />
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Light, sweet crude for February delivery settled up 14 cents, or 0.2%, at $91.54 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange finished up 62 cents, or 0.6%, at $98.68 a barrel. <br />
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Front-month February reformulated gasoline blend-stock, or RBOB, gained 4.87 cents, or 2%, to settle at $2.4946 a gallon. February heating oil advanced 3.61 cents, or 1.4%, at $2.4946 a gallon.</div><div style="font-family: Arial,Helvetica,sans-serif;">FRIDAY MARKET NEWS: </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The market braced for the weekend shutdown of the Trans-Alaska Pipeline. Pipeline operator Alyeska Pipeline Service Co. had temporarily restarted the pipeline, which had been shuttered after an oil leak was discovered in a pump station Saturday. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Alyeska said it would again shut down the pipeline from Friday night through the weekend as repair crews begin installing a new piece of pipe to replace the damaged section near Deadhorse, Alaska. The repairs would likely begin early Saturday, a spokeswoman said. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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THURSDAY OIL FUTURES: Nymex Crude Settles 46c Lower At $91.40/Barrel <br />
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<b>THURSDAY:</b> Light, sweet crude for February delivery recently traded 38 cents, or 0.4%, higher at $92.24 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 36 cents higher at $98.48 a barrel. <br />
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Gasoline futures also weighed on the rally. Front-month February reformulated gasoline blend-stock, or RBOB, recently traded nearly flat, up 0.02 cent at $2.4633 a gallon. U.S. stockpiles of the fuel rose by 5.1 million barrels last week, surprising analysts by the size of the increase. <br />
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February heating oil recently traded 0.28 cent higher at $2.6214 a gallon.<br />
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<b>WEDNESDAY OIL FUTURES</b>: Nymex Crude Settles Up 75c At $91.86/Barrel <br />
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D.O.E. REPORT: </div><div style="font-family: Arial,Helvetica,sans-serif;">US Crude Oil Stocks -2.154M Bbl In Wk; Seen -0.5M Bbl</div><div style="font-family: Arial,Helvetica,sans-serif;">US Crude Oil Stocks -2.154 Mln Bbl At 333.112 Mln Bbl</div><div style="font-family: Arial,Helvetica,sans-serif;">US Refineries Ran At 86.4%; Seen 88.00%</div><div style="font-family: Arial,Helvetica,sans-serif;">US Gasoline Stocks +5.081M Bbl In Wk; Seen +1.3M Bbl </div><div style="font-family: Arial,Helvetica,sans-serif;">US Distillate Stocks +2.652M Bbl In Wk; Seen +0.6M Bbl<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Crude's Draw Drives Up Crude Above $92 </span><br />
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U.S. crude inventories fell more sharply than analysts expected last week while petroleum products expanded, according to data released Wednesday by the U.S. Department of Energy. <br />
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Crude oil stockpiles fell by 2.2 million barrels to 333.1 million barrels for the week ended Jan. 7, versus an average survey estimate of a 500,000-barrel draw. <br />
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The EIA data widened early gains seen in oil on the futures market. Crude oil contracts for February rose by 1.1% to $92.15 a barrel on the New York Mercantile Exchange. February futures for gasoline were recently down 0.5% at $2.4671 a gallon and heating oil was up 0.4% at $2.6197.<br />
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Inventories for crude oil and petroleum products remain at unusually high levels, though tightening supplies have caused prices to rally in recent weeks. Gasoline stockpiles expanded by 5.1 million barrels to 223.2 million barrels, the department's Energy Information Administration said in its weekly report That compares with 1.3-million increase forecasted.<br />
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Distillate stocks, which include heating oil and diesel fuel, rose 2.7 million barrels to 164.8 million barrels. Analysts expected a 1.3-milliom barrel increase. Refining capacity utilization fell by 1.6 percentage points to 86.7%. Analysts expected it to remain unchanged at 88% of capacity. <br />
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API reported that gasoline stocks rose by 7 million barrels and distillates added 1.6 million barrels. Refinery runs fell by 1.1 percentage points, the industry group said. <br />
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<b>ENERGY NEWS:</b><br />
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US regulators are set to issue draft proposals to curb speculative trading in commodities, over the objections of Wall Street groups who are demanding changes to the proposals, claiming they will harm commodities markets.<br />
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The Trans Alaska Pipeline will be shut for a day and a half so that a new pipe segment can be installed ahead of a full restart of the pipeline, the pipeline operator says. <br />
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Russia will review a proposal to raise oil pipeline tariffs by 2% to 3% in April and May, the head of the country's oil pipeline operator OAO Transneft says. Last year, Russia raised transportation tariffs to finance large pipeline projects.<br />
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Cnooc, China's largest offshore oil and gas producer by capacity, plans to issue international bonds to institutional investors, becoming the latest Chinese company to tap the offshore bond market amid tightening liquidity at home.<br />
India's Essar Oil is seeking to buy a stake of at least 5% in Spanish oil company Repsol YPF, which at current market prices is worth more than €1.3 billion, reports Expansion. <br />
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Marathon Oil Corp.'s (MRO) board said it has approved advancing plans to spin off the company's refining and sales operations.<br />
<br />
Libya won't call for an emergency OPEC meeting, even if oil hits $110 a barrel, Libya's top oil official says. The remarks are the latest to suggest many members of OPEC would favor a hands-off approach should oil prices spike.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Royal Dutch Shell says it is continuing negotiations with several potential buyers of the lubricant manufacturing plant at its refinery in Hamburg, Germany, but has decided to close fuel-processing facilities at the plant.<br />
<br />
Chevron expects fourth-quarter earnings to rise from the prior quarter, driven by higher crude oil prices and gains from the sale of its interest in a U.S. pipeline operator.<br />
<br />
PIPELINE REOPENS<br />
Oil futures move higher following the reopening of the Trans-Alaska Pipeline, albeit on a temporary basis. Traders are awaiting a government reports on U.S. oil supplies.<br />
<br />
<br />
<b>TUESDAY OIL FUTURES: </b>Nymex Crude Settles $1.86 Higher At $91.11/Barrel<br />
Crude futures aimed higher Tuesday, pushing above $91 a barrel with traders still concerned about potential supply disruptions from the closure of a major Alaskan pipeline.<br />
<br />
Light, sweet crude for February delivery recently traded $1.62, or 1.8% higher at $90.87 a barrel on the New York Mercantile Exchange. February crude oil rose as high as $91.33. Brent crude on the ICE futures exchange traded $1.93 higher at $97.63 a barrel. <br />
<br />
Heating oil moved higher, as investors bet that colder-than-normal temperatures in the U.S. would eat into high supplies. Front-month February heating oil recently traded 4.45 cents, or 1.7%, higher at $2.6006 a gallon after hitting a fresh two-year high earlier in the session. February reformulated gasoline blend-stock, or RBOB, recently traded 2.61 cents higher at $2.4804 a gallon after hitting the highest price since October 2008. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">EIA OIL AND FUEL FORECAST </span><br />
The price of crude oil is expected to rise to an average of $93 a barrel in 2011, the U.S. Energy Information Administration said Tuesday. With demand improving, U.S. consumers will likely be paying more for gasoline. The EIA expects retail gasoline prices will average $3.17 a gallon in 2011, up from an earlier forecast of $3 a gallon. <br />
<br />
The Energy Information Administration said it sees oil demand in the U.S., the world's largest consumer, averaging 19.29 million barrels a day this year, a gain of 160,000 barrels a day from the 2010 level. <br />
<br />
In an early look at 2012, the Energy Information Administration said it expects demand to rise by a further 170,000 barrels a day, to 19.46 million barrels a day. That level would still lag 2008 demand. <br />
<br />
Demand in the current quarter is expected to average 19.32 million barrels a day, up 2.7%, or 500,000 barrels a day from a year ago, the EIA said in its monthly Short-Term Energy Outlook. Last month, the EIA projected first-quarter growth of 2.2%. <br />
<br />
Gasoline demand grew by 0.7% in 2010, to 9.06 million barrels a day and is expected to rise by a similar level in 2011, to 9.12 million barrels a day. Demand for distillate fuel (diesel/heating oil) rose by 3.6%, or 130,000 barrels a day, last year to 3.76 million barrels a day. A further gain of 2.4%, to 3.85 million barrels a day, is forecast this year. <br />
<br />
Demand for the fuels is expected to "account for much of the growth in consumption in the next two years," the EIA said. In 2012, gasoline use is expected to rise by 70,000 barrels a day, to 9.19 million barrels a day, still below the 2007 average. Distillate use is expected to gain 90,000 barrels a day next year, to an average of 3.94 million barrels a day, just below the 2008 average. <br />
<br />
<br />
<b>MONDAY OIL FUTURES:</b> Nymex Crude Settles $1.22 Higher At $89.25/Barrel </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><span style="font-family: Arial,Helvetica,sans-serif;">Crude futures moved higher Monday following the closure of the Trans-Alaska Pipeline, a major route for oil delivery, igniting some fears about falling supplies. The shutdown initially sent oil futures up nearly $2 to $89.98 a barrel on the New York Mercantile Exchange. But futures have retreated as traders and analysts said global supplies won't be pressured if the pipeline is restarted soon, as many expect. <br />
</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Light, sweet crude for February delivery settled $1.22, or 1.4%, higher at $89.25 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded $2.38 higher at $95.71 a barrel. Front-month February reformulated gasoline blendstock, or RBOB, settled 4.12 cents, or 1.7%, higher at $2.4543 a gallon. February heating oil settled 6.98 cents, or 2.8%, higher at $2.5561 a gallon. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">On Saturday, Alyeska Pipeline Co., which operates the 800-mile pipeline network, turned off the pipeline after workers discovered a leak. The closure forced BP PLC (BP.LN), Exxon Mobil Corp. (XOM) and others to shut down nearly all of their oil production on Alaska's North Slope, an area that produces 630,000 barrels a day -- about 9% of total domestic U.S. output-- and is relied upon by U.S. West Coast refineries. <br />
<br />
The shutdown initially sent futures up nearly $2 to $89.98 a barrel. West Coast refiners, who rely on Alaskan crude for about one-quarter of their supply, said they could rely on inventories and other suppliers to bridge a short-term gap. Millions of barrels of oil are also available in storage at Valdez, the pipeline's terminus on Alaska's southern coast, said Chevron Corp. (CVX) <br />
<br />
"This outage was enough to stampede some players back to the long side of the market, but it's not a lasting or material change to the global supply-demand balance," said Tim Evans, an oil analyst with Citi Futures Perspective. <br />
<br />
Major oil producers, particularly Saudi Arabia and other members of the Organization of Petroleum Exporting Countries, could increase production if supplies were pressured. Analysts say the group is still holding back as much as five to six million barrels of daily production. </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NATURAL GAS:</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY: Natural Gas: $4.48</b></div><span style="font-family: Arial,Helvetica,sans-serif;">FRIDAY US GAS: Futures Settle 1.7% Higher At $4.480/MMBtu </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Natural gas futures rose Friday as weather forecasts for the next two weeks turned colder across some major gas-heating markets, lifting demand expectations for the heating fuel. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Natural gas for February delivery settled 7.3 cents, or 1.7% higher, at $4.48 a million British thermal units on the New York Mercantile Exchange. The benchmark contract rose 1.3% on the week. </span><br />
<br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY US GAS:</b> Futures Close 3.1% Lower At $4.391/MMBtu </span><br />
<br />
<b><span style="font-family: Arial,Helvetica,sans-serif;">Natural gas futures fell Thursday. Lower Than Expected Draw</span></b><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">Natural gas futures extended their earlier losses Thursday after a report of a slightly smaller-than-expected weekly draw from U.S. gas stockpiles reinforced the view that supplies will be ample to meet winter's heating needs. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Natural gas for February delivery recently traded 11.7 cents, or 2.6% lower, at $4.414 a million British thermal units on the New York Mercantile Exchange. The benchmark contract had traded at about $4.48/MMBtu before the report's release. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">The U.S. Energy Information Administration reported that natural gas inventories fell by 138 billion cubic feet last week, less than consensus estimates. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Natural gas in U.S. storage during the week ended Jan. 7 stood at 2.959 trillion cubic feet. The storage draw was larger than the five-year average withdrawal of 108 bcf, but less than last year's decline of about 250 bcf.</span><br />
<br />
<br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>WEDNESDAY:</b> Natural gas futures ended higher Wednesday on expectations for late-January cold and an above-average weekly draw from U.S. gas supplies. <br />
<br />
Natural gas for February delivery settled up 5 cents, or 1.1%, at $4.531 a million British thermal units on the New York Mercantile Exchange. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Natural gas futures edged higher Wednesday as forecasts for colder-than-normal temperatures in some major gas-consuming markets lifted the demand outlook for the heating fuel. <br />
<br />
Natural gas for February delivery recently traded up 1.7 cents, or 0.4%, at $4.498 a million British thermal units on the New York Mercantile Exchange. The benchmark contract ended higher Tuesday for the first time in five sessions, as forecasting models predicted an arctic blast across the central and eastern U.S. in late January. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Traders are looking ahead to Thursday's gas storage data, which is widely expected to show a larger-than-average withdrawal from U.S. stockpiles as recent cold led to high demand. U.S. stockpiles hit a record high in November, but colder-than-normal weather since has eased the supply burden. The EIA's weekly report is scheduled for release at 10:30 a.m. EST. </span><br />
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<b>NATURAL GAS ENERGY NEWS:</b><br />
<br />
Azerbaijan commits to supply natural gas to the European Union, the first written pledge paving the way for Europe's bid to tap the huge Caspian energy reserves, as the bloc seeks to diversify its supply sources.<br />
<br />
Iran signs a deal to buy 1 billion cubic meters of natural gas from Azerbaijan this year with the possibility of increasing volumes in the future, Azerbaijan's state energy company Socar says.<br />
<br />
Oil & Natural Gas expects further delays in signing a deal with Iran's state-run Petropars to develop phase 12 of the South Pars gas field as U.S. sanctions on Iran are making it hard to secure funding, a senior company official says.<br />
<br />
US Natural Gas Corp (UNGS) Announces Share Repurchase Program .<br />
PAA Natural Gas: Fire Occurred At Bluewater Natural Gas Facility In Michigan. Their gas handling facility is currently shut down .<br />
<br />
<span id="intelliTxt">Exxon Mobil Corp. (XOM) said Wednesday that it is shopping its stake in four North Sea oil and gas fields.<br />
<br />
The U.K. unit of ExxonMobil's recently acquired XTO Energy owns the properties, according to a document announcing the sale released by IndigoPool, Schlumberger Ltd.'s (SLB) mergers and acquisitions business. ExxonMobil, the largest U.S. oil company by market value, did not provide an estimated value of the assets.<br />
<br />
ExxonMobil will consider a cash sale, swap of assets or a combination of both for its entire interest in the production blocks, according to the IndigoPool document. </span></div><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PRECIOUS METALS: </span><br />
<div style="text-align: left;"></div><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY: </b><b>Gold: $1,361</b> </div><b><span style="font-family: Arial,Helvetica,sans-serif;">FRIDAY: </span></b><b style="font-family: Arial,Helvetica,sans-serif;">Silver: $28.42</b> <br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">The most-actively traded gold contract, for February delivery, declined $26.50, or 1.9%, to settle at $1,360.50 a troy ounce on the Comex division of the New York Mercantile Exchange. Thinly traded nearby January gold also lost $26.50, to $1,360.40. Comex March silver declined 0.9%, Nymex April platinum fell 0.3% and Nymex March palladium dipped 2.8%.. <br />
</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><span style="font-family: Arial,Helvetica,sans-serif;">Engelhard Corp's base price for industrial gold bullion was $1369.97 per troy ounce, down $14.53 from previous. It's selling price for gold in fabricated form was $1472.72, down $15.62.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Handy & Harman's base price for gold was $1367.00 per troy ounce, down $14.50. The fabricated form price was $1476.36, down $15.66.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>Friday Settlements (range includes floor and electronic trading):</b><br />
London PM Gold Fix: $1,367.00; previous PM $1,381.50<br />
Feb gold $1,360.50, down $26.50; Range $1,354.60-$1,377.80<br />
Mar silver $28.320, down 94.3 cents; Range $28.100-$28.965<br />
Apr platinum $1,816.00, down $5.20; Range $1,804.00-$1,826.50<br />
Mar palladium $790.50, down $22.95; Range $787.35-$811.50<br />
.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY: </b>The most actively traded gold contract, for February delivery, rose $1.20 to settle at $1,387 a troy ounce on the Comex division of the New York Mercantile Exchange. Thinly traded nearby January futures also rose $1.20, to $1,386.90. Comex March silver lost 1%, Nymex April platinum rose 1%, and Nymex palladium gained 0.8%. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Engelhard Corp's base price for industrial gold bullion was $1384.50 per troy ounce, up $2.76 from previous. It's selling price for gold in fabricated form was $1488.34, up $2.97.<br />
Handy & Harman's base price for gold was $1381.50 per troy ounce, up $2.75. The fabricated form price was $1492.02, up $2.97. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>Thursday Settlements (range includes floor and electronic trading):</b><br />
London PM Gold Fix: $1,381.50; previous PM $1,378.75<br />
Feb gold $1,387.00, up $1.20; Range $1,377.20-$1,392.90<br />
Mar silver $29.263, down 28.2 cents; Range $28.900-$29.810<br />
Apr platinum $1,821.20, up $20.10; Range $1,794.50-$1,833.00<br />
Mar palladium $813.45, up $6.70; Range $805.00-$825.10 </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"> <b>WEDNESDAY: </b>The most actively traded contract, for February delivery, ended up $1.50, or 0.1%, at $1385.80 per troy ounce. The thinly traded January-delivery contract settled up $1.70, or 0.1%, at $1385.70 per troy ounce on the Comex division of the New York Mercantile Exchange. </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Physical gold held by exchange-traded funds fell by 1.1 metric tons Tuesday to a total of 2,134 metric tons, according to Barclays Capital, which tracks 24 listed physical gold ETFs.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">The price of palladium is nearing its highest level in a decade, spurred by fund buying and strong demand for exchange-traded products.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Platinum producer Lonmin PLC (LMI.LN) has agreed to increase South African mineworkers' wages by 8%, and pay a one-off bonus, although their labor union said Wednesday other mining companies should be prepared to pay higher increases this year.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Engelhard Corp's base price for industrial gold bullion was $1381.74 per troy ounce, up $4.75 from previous. It's selling price for gold in fabricated form was $1485.37, up $5.11.<br />
Handy & Harman's base price for gold was $1378.75 per troy ounce, up $4.75. The fabricated form price was $1489.05, up $5.13. </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><br />
</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>Wednesday Settlements (range includes Floor and electronic trading):</b><br />
London PM Gold Fix: $1,378.75; previous PM $1,374.00<br />
Feb gold $1,385.80, up $1.50; Range $1,376.30-$1,389.00<br />
Mar silver $29.545, up 0.46 cents; Range $29.395-$29.845<br />
Apr platinum $1,801.10, up $30.80; Range $1,764.60-$1,809.90<br />
Mar palladium $806.75, up $23; Range $781.30-$813.90<br />
<br />
</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY:</b> </span><span style="font-family: Arial,Helvetica,sans-serif;">Gold futures logged their second consecutive gain Tuesday.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The most actively traded contract, for February delivery, settled up 0.7%, or $10.20, at $1,384.30 per troy ounce. The thinly traded January delivery contract settled up 0.8%, or $10.30, at $1,384.00 per troy ounce on the Comex division of the New York Mercantile Exchange. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Engelhard Corp's base price for industrial gold bullion was $1376.99 per troy ounce, up $5.76 from previous. It's selling price for gold in fabricated form was $1480.26, up $6.19.<br />
Handy & Harman's base price for gold was $1374.00 per troy ounce, up $5.75. The fabricated form price was $1483.92, up $6.21. </span><br />
<br />
<b><span style="font-family: Arial,Helvetica,sans-serif;">Tuesday Settlements (range includes floor and electronic trading):</span></b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">London PM Gold Fix: $1,374.00; previous PM $1,368.25</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Feb gold $1,384.30, up $10.20; Range $1,372.40-$1,386.80</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Mar silver $29.499, up 63.8 cents; Range $29.060-$29.710</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Apr platinum $1,770.30, up $25.20; Range $1,740.00-$1,774.30</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Mar palladium $783.75, up $34.10; Range $753.00-$785.00</span><br />
<br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY:</b> The slight gains in gold Monday were primarily coming from a weakening U.S. dollar. That makes dollar-denominated gold less expensive for foreign buyers, helping demand. </span><span style="font-family: Arial,Helvetica,sans-serif;">Silver futures also gained, with March metal rising 19 cents, or 0.7%, to settle at $28.861. Meanwhile, Nymex April platinum rose 0.4% and March palladium on the exchange fell 0.8%.<br />
</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Engelhard Corp's base price for industrial</span> <span style="font-family: Arial,Helvetica,sans-serif;">gold bullion was $1371.23 per troy ounce, up $1.26 from previous.</span> <span style="font-family: Arial,Helvetica,sans-serif;">It's selling price for gold in fabricated form was $1474.07, up $1.35.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Handy & Harman's base price for gold was $1368.25 per troy ounce,</span> <span style="font-family: Arial,Helvetica,sans-serif;">up $1.25. The fabricated form price was $1477.71, up $1.35.</span> <br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>Monday Settlements (range includes floor and electronic trading):</b><br />
London PM Gold Fix: $1,368.25; previous PM $1,367.00<br />
Feb gold $1,374.10, up $5.20; Range $1,365.00-$1,376.40<br />
Mar silver $28.861, up 19.0 cents; Range $28.650-$29.140<br />
Apr platinum $1,745.10, up $6.80; Range $1,735.60-$1,753.40<br />
Mar palladium $749.65, down $6.30; Range $746.20-$764.35<br />
</span><br />
<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BASE METALS:</span> <br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY: Copper $ 4.40 Per Pound</b><b> </b></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Base metals are down on the London Metal Exchange in European trading Thursday as the market eases after Wednesday's rally, though heightened risk sentiment on the back of better-than-expected European bond auctions spurred the market to pare some of its earlier losses.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Base metals on the Shanghai Futures Exchange were mixed Thursday, with copper and zinc rising modestly in response to an improving economic outlook for the euro-zone economies.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">A slightly weaker dollar buoyed copper prices Monday. Copper prices held near steady Monday amid a weaker dollar and easing Chinese trade data. China's imports of copper and copper products fell 6.7% to 344,558 tons in December. <br />
<br />
The most actively traded contract, for March delivery, settled down 0.4%, or 1.8 cents, at $4.2645 per pound on the Comex division of the New York Mercantile Exchange. The thinly traded January-delivery contract settled down 0.4%, or 1.8 cents, at $4.2545 per pound. </span><br />
<br />
<b><span style="font-family: Arial,Helvetica,sans-serif;">BASE METAL NEWS: </span></b><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Canadian copper miners Inmet and Lundin agree on a merger worth about $9 billion in stock. Each Inmet holder will receive 3.5 shares of Symterra, the merged firm, while each Lundin shareholder will receive a 0.3 share.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Several of Chile's largest private mining companies have opted for the new copper royalty structure, Mining Minister Laurence Golborne said Wednesday.</span><br />
<br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Zambia's state power utility, Zambia Electricity Supply Corp., also known as Zesco, warned that it will step up power rationing following the closure of a 165-megawatt generation unit at the Kafue Gorge hydropower station for annual maintenance.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><br />
</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Talison Lithium Ltd. (TLH.TX), the world's biggest miner of the metal, Wednesday reported record sales and production from its Greenbushes mine in Western Australia.</span><br />
<br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Extract Resources Ltd. (EXT.AU) said Wednesday "further outstanding assay results" reinforce the high-grade nature of its Husab uranium prospect in Namibia, and that its definitive feasibility study remains on track to be completed in the first quarter.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Base metals are up on the London Metal Exchange in European trading Wednesday as a weaker dollar and increasing confidence over the future of the euro zone boost risk sentiment and drive investors back into the market. </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><br />
</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Base metals on the Shanghai Futures Exchange gained Wednesday in response to higher local shares and a mild recovery by the euro against the dollar, but investors remained hesitant to take any big new positions.</span><br />
<br />
<br />
<b style="font-family: Arial,Helvetica,sans-serif;">Monday Settlements (range includes floort and electronic trading):</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Jan copper $4.2545, down 1.8 cents; Range $4.2540-$4.3275</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Mar copper $4.2645, down 1.8 cents; Range $4.2525-$4.2700</span><br />
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<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS: </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY:</b> Treasurys fell, lifting the yield on the 10-year note up to 3.32%. In late afternoon trading, the benchmark 10-year note was 6/32 lower to yield 3.327%. The 30-year bond was 13/32 lower to yield 4.528%. Bond yields move inversely to their prices. The 10-year note's yield was little changed compared to 3.324% at the end of last week. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">The Fed bought $7.306 billion in Treasurys with maturities between February 2015 and June 2016 Friday, as part of the Treasury bond-buying program. </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY:</b> Treasurys rose Thursday. The seven-year Treasurys, the focus of the buying, were the best performer. The Fed's $8.412 billion purchases in the medium-term sector were near the top of the $7 billion to $9 billion range the central bank intended to buy for this operation. In late afternoon trading, the benchmark 10-year note was 16/32 higher to yield 3.305%. The seven-year note was 15/32 higher to yield 2.630%. The 30-year bond was 18/32 higher to yield 4.496%. Bond prices move inversely to their yields. <br />
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The 30-year bond pared some gains after a sale of $13 billion in the maturity, whose demand trailed expectations from some market participants. <br />
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The Treasury Department sold the 30-year bonds at a yield of 4.515%, compared with 4.492% traded right before the auction. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY:</b> Treasurys declined Tuesday, ending a three-session winning streak, as the market was weighed down by the first round of this year's new government note and bond supply.investors are bracing for $21 billion in 10-year notes Wednesday and $13 billion in 30-year bonds Thursday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">In late-afternoon trading, the benchmark 10-year note was 13/32 lower in price to yield 3.338%. The three-year note was 2/32 lower to yield 0.976%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Tuesday, the Federal Reserve purchased $7.802 billion in Treasurys with maturities between July 2016 and December 2017. It is part of the Fed's $600 billion Treasury bond-buying plan launched in earlier November as the second round of monetary stimulus to foster an economic recovery.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<b style="font-family: Arial,Helvetica,sans-serif;">MONDAY:</b><span style="font-family: Arial,Helvetica,sans-serif;"> Demand for U.S. Treasurys climbed, sending yield on the 10-year note down to 3.30%. Treasurys also rallied broadly Friday on a disappointing U.S. jobs report.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY, JAN. 14, 2011; 4:00 PM EST: </b></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">3 Month 0.12% 0.00 (0.00%)<br />
6 Month 0.16% -0.01 (-5.88%)<br />
2 Year 0.57% -0.01 (-1.72%)<br />
5 Year 1.92% +0.02 (1.05%)<br />
10 Year 3.32% +0.03 (0.91%)<br />
30 Year 4.53% +0.04 (0.89%)</span><br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">U.S. ECONOMIC NEWS:</span></span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">FRIDAY: </b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TREASURY ISSUES SMALL BUSINESS GROWTH FUNDS TO TWO STATES </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The Treasury Department awards Small-Business Funds to two States Friday. Michigan on Friday received $79 million and North Carolina got $46 million under the $1.5 billion initiative designed to create jobs. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The U.S. Treasury Department says it has given funding to the first two states awarded under a program that is intended to spur small-business growth. All states can apply for federal funds that would support private lending for small firms. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"Small businesses depend on access to credit in order to hire and expand, and this funding will better position main street entrepreneurs to create new jobs and invest in their local communities," Treasury Secretary Timothy Geithner said.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. FARMERS IN SERIOUS DEBT</span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The farm and ranching sector has seen the largest surge in debt since the 1970s, growing just short of 5% a year from 2003 to 2009. Fueling the rise was a 40% increase in farmland values over the same period, the report said.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Debt carried by U.S. farmers increased significantly in recent years as prices for farmland surged, leaving young farmers and livestock producers most exposed to possible financial strain, according to a Federal Reserve Bank of Kansas City report. <br />
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The article by reserve bank economist Brian Briggeman finds that farmers with sales of more than $1 million drove the rise in debt, but also are positioned to handle a hike in interest rates or drop in income. Farmers younger than 35 years old and livestock producers are in a more vulnerable position because of limited incomes. The whole farm sector would come under financial stress if a sharp combination of rising interest rates and falling income occur. <br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"A surge in financial stress among livestock producers, who hold half of all farm debt, would be of particular concern to agricultural lenders," Briggeman wrote.<br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">BUSINESS INVENTORIES FLAT</span></span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">The inventories of U.S. businesses rose in November less than expected after strong holiday sales drew down their supplies. Inventories increased 0.2% from the prior month to a seasonally adjusted $1.422 trillion, the Commerce Department said Friday. <br />
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U.S. business sales also rose in November, rising 1.2% to $1.133 trillion after a revised 1.5% gain in October. November's sales figure was the highest since September 2008, when investment bank Lehman Brothers went bankrupt and agitated financial markets in the middle of the deep U.S. recession. <br />
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Retail inventories were flat in November as sales rose during the holiday shopping season, while merchant wholesale inventories fell 0.2%. Manufacturers inventories rose 0.8%. Friday's inventories report said that at the current sales pace, businesses had enough goods on hand in November to last 1.25 months, down from 1.27 months in October. <br />
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U.S. companies slashed inventories during the recession. They increased stockpiles earlier in the recovery and are now trying to keep their supplies of goods in line with demand. Wholesalers make up about 30% of all business stockpiles. Factories account for about 37%. Retailers make up the rest. <br />
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Inventories of car dealers fell 0.8%. Excluding cars, other retail inventories rose 0.2% General merchandise store inventories, the next biggest component to the retail stockpile figures, rose 0.1%, while building materials rose 0.4% and clothing stores fell 0.3%. <br />
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<i>The Commerce Department data on business inventories can be found at:</i></div><a href="http://www.census.gov/mtis/www/data/pdf/mtis_current.pdf" style="font-family: Arial,Helvetica,sans-serif;">http://www.census.gov/mtis/www/data/pdf/mtis_current.pdf</a><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">JAN REUTERS/UNIVERSITY </span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">OF MICHIGAN SENTIMENT</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> FALLS BELOW EXPECTATIONS</span><br />
The Reuters/University of Michigan consumer sentiment index's preliminary reading for January falls to 72.7, down from 74.5 at the end of December and last month's preliminary 74.2. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">.</span><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">BASEL COMMITTEE REQUIRES</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;"> HIGHER CAPITAL RESERVES</span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Federal Reserve Bank Governor Dan Tarullo Friday said members of the Basel Committee are ready to designate which financial institutions will be on the panel's list of systemically important institutions -- a designation which could require them to have higher capital levels, CNBC reported. Tarullo, who just returned from a meeting with Basel members, made the comments in an interview with CNBC.</span> <br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Banks will be required to hold more and better quality capital, including countercyclical capital buffers, taking the minimum core Tier 1 ratio to 7%. They also must meet tough new liquidity ratios and will be subject to a leverage ratio. The greater challenge is likely to lie in the new liquidity rules. The Basel Committee found that 67% of large banks had a stable funding ratio above 85% at the end of 2009, well below the new minimum of 100%, and that these banks had a combined shortfall in liquid assets of EUR2.3 trillion. </span> <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US RETAIL SALES RISE LESS THAN 0.07%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The Commerce Department said retail sales rose less than expected in December, stoking worries that the U.S. recovery remains sluggish. U.S. retail sales post a mere 0.6% gain in December, but the increase is smaller than expected as high unemployment weighs on the minds of holiday shoppers.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. INFLATION RAISED</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Consumer Prices Rose 0.5% in December; Core Up 0.1% </b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><i>U.S. consumer prices in December surged to the fastest pace since June 2009. Consumer prices rose last month as the cost of gas increased by the largest amount since June 2009. </i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The Labor Department said Friday the Consumer Price Index rose 0.5 per cent in December, the largest increase in 18 months. About 80 per cent of the increase was due to an 8.5 per cent rise in the gasoline index, also the sharpest increase in 18 months. Food prices ticked up 0.1 per cent in December.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">High unemployment and a weak economy are keeping prices in check. Retailers and manufacturers are reluctant, for now, to pass on the rising costs of raw materials to consumers, for fear of scaring them away.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Last year, the consumer price index rose by only 1.5 per cent, down from 2.7 per cent in 2009.</div><div style="font-family: Arial,Helvetica,sans-serif;"><u><i><span style="color: #660000;">Excluding the volatile food and energy categories</span></i></u>, the so-called core index moved up 0.1 per cent in December for the second straight month. In the past year, the core index rose by only 0.8 per cent.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">That's near a record low of 0.6 per cent set earlier in 2010 and the smallest December-to-December increase in the history of the index, which dates to 1958.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Inflation could tick up this year as prices for commodities such as oil, grains and cotton have risen sharply in recent months. Grain prices hit a 2 1/2 year high earlier this week after the government said corn, wheat and soybean harvests would come in below previous estimates. Oil prices have risen due to strong demand in large, fast-growing developing countries.</div><div style="font-family: Arial,Helvetica,sans-serif;">Companies could be forced to pass on some of the higher raw material costs to consumers. So far, there is only limited evidence that that is occurring.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The Fed said in a survey released Wednesday that "competitive pressures" had limited the ability of companies to pass on higher prices.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Fed chairman Ben Bernanke told Congress last week he expected inflation in the United States will "likely to be subdued for some time."</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The Federal Reserve would like to see prices rise a bit faster than they are now. Its preferred range for the core consumer index is roughly 1.5 per cent to two per cent. Figures below that carry the threat of deflation, a widespread and prolonged downturn in prices, wages and home values.<br />
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Food prices have been hit by inflation, and that’s going to change even more, according to BMO Nesbitt Burns. Worldwide, prices are at a record high, according to the Food and Agriculture Organization, and there are fears that floods in Australia, a key region for some crops, will push them up even more.<br />
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A look at commodity prices and the lag effect suggests costs will rise, according to an analysis by BMO’s deputy chief economist Douglas Porter, who projects an impact on the consumer price index later this year.<br />
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<a href="http://www.theglobeandmail.com/report-on-business/food-prices-in-canada-tame-for-now-but-will-head-higher/article1861057/?cmpid=rss1%20">http://www.theglobeandmail.com/report-on-business/food-prices-in-canada-tame-for-now-but-will-head-higher/article1861057/?cmpid=rss1 </a><br />
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<b>Average Food Inflation Chart: </b> <br />
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<a href="http://www.bloomberg.com/news/2010-10-21/general-mills-signals-faster-u-s-food-inflation-chart-of-the-day.html%20">http://www.bloomberg.com/news/2010-10-21/general-mills-signals-faster-u-s-food-inflation-chart-of-the-day.html </a><br />
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<b>Average Fuel Price Chart Jan 2009-Dec 2010:</b><br />
<a href="http://news.bbcimg.co.uk/media/images/50375000/gif/_50375050_fuel_prices_466gr.gif">http://news.bbcimg.co.uk/media/images/50375000/gif/_50375050_fuel_prices_466gr.gif</a> </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. STATE BOND SALES FALL</span></div><b>NEW HIT TO CASH STRAPPED STATES</b><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Continued flows out of money market mutual funds, as well as additional negative headlines, send the $2.9 trillion municipal bond market skidding again. </span>With the market for municipal bonds tumbling, cities, hospitals, schools and other public borrowers are scrambling to refinance tens of billions of dollars of debt this year, another sign that the once-safe market is under duress.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PIMCO CUTS US HOLDINGS</span><br />
The U.S. government-related holdings for Pimco's flagship Total Return Fund, the world's biggest bond fund with $240.7B in assets, fell to 22% in December, the lowest level for 2010, from 30% in November.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA TO RAISE RESERVE </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">REQUIREMENT RATIO AGAIN</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">China's central bank says it will raise banks' reserve requirement ratio by 50 basis points, following six hikes last year. The increase will take effect Jan. 20, and is the latest move by China to curb inflation.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">EURO-ZONE INFLATION </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">HITS 26-MONTH HIGH</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The euro zone's annual rate of inflation rises above the European Central Bank's medium-term target for the first time for more than two years in December, driven by fuel, food, alcohol, and tobacco.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY: </b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CFTC SET TO ISSUE COMMODITY TRADING CURBS</span><br />
US regulators are set to issue draft proposals to curb speculative trading in commodities, over the objections of Wall Street groups who are demanding changes to the proposals, claiming they will harm commodities markets.<br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">445,000 MORE AMERICAN'S</span></span><br />
<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;"> LOST THEIR JOBS LAST WEEK</span></span><br />
Jobless Claims in US Rose 35,000 Last Week to 445,000. Initial jobless claims rose by 35,000 to 445,000, according to Labor Department data released today.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FACTORY DATA REVISED LOWER</span><br />
Philadelphia manufacturing sector grew at a slightly less rapid pace at the end of 2010 than was first reported, according to Federal Reserve Bank of Philadelphia. Despite the downward revision, data shows the factory sector expanding at a solid pace.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US COMMERCIAL PAPER FALLS</span><br />
The U.S. commercial paper market, used by companies to fund payrolls, rent and other daily needs, falls again on both a seasonally adjusted and unadjusted basis in the week ended January 12.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">HOME FORECLOSURES NEAR 4 MILLION </span><br />
<i><b>Foreclosure Filings Neared 4 Million in 2010. The housing crisis is getting worse. </b></i><br />
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Foreclosure filings for December alone were reported at 257,747 for U.S. properties. More than 1 million American family's lost their homes. <br />
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Real estate research firm RealtyTrac has reported that 2010 was particularly bad. The company's Year-End 2010 U.S. Foreclosure Market Report shows "a total of 3,825,637 foreclosure filings -- default notices, scheduled auctions and bank repossessions -- were reported on a record 2,871,891 U.S. properties in 2010, an increase of nearly 2% from 2009 and an increase of 23% from 2008."<br />
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James J. Saccacio, chief executive officer of RealtyTrac, offered little hope for the beginning of 2011. He said "many of the foreclosure proceedings that were stopped in late 2010 -- which we estimate may be as high as a quarter million -- will likely be re-started and add to the numbers in early 2011."<br />
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The report also indicates that "2.23% of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 2.21% in 2009, 1.84% in 2008, 1.03% in 2007 and 0.58% in 2006."<br />
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Tax credits, offered early in the year, boosted buying activity, but those benefits expired in April. The Home Affordable Modification Program (HAMP), meant to refinance mortgages to keep people in their homes, was simply a failure.<br />
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Most analysts believe that housing cannot recover in markets where unemployment is above 10%. Low interest rates on mortgages have not aided home sales. Government's attempt to rectify the situations have had mixed success.<br />
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Visit RealtyTrac®, the leading online marketplace for foreclosure properties. Read its Year-End 2010 U.S. Foreclosure Market Report™<br />
<br />
<i>See full research article from RealtyTrac: </i><br />
<a href="http://www.realtytrac.com/content/press-releases/2010-year-end-foreclosure-report-6309%20">http://www.realtytrac.com/content/press-releases/2010-year-end-foreclosure-report-6309 </a><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US TRADE DEFICIT NARROWS</span><br />
The U.S. trade deficit unexpectedly narrows for the third straight month, decreasing 0.3% to $38.31 billion in November. Economists were expecting the deficit to widen to $40.7 billion.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US PRODUCER PRICES JUMP HIGHER</span><br />
U.S. producer prices jump 1.1% higher in December on the back of higher energy and food costs, but underlying wholesale inflation remained tame in 2010. It marks biggest monthly gain since January and the sixth monthly increase in a row.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TREASURY PROGRAM REFUNDS</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> TAXES ON DEBIT CARDS</span><br />
The U.S. Treasury begins a program that lets low- and moderate-income Americans receive tax refunds on a debit card, allowing about 600,000 individuals to avoid check-cashing operations or refund-anticipation loans that charge high fees.<br />
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<b>WEDNESDAY:</b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Beige Book Report:</span> </span><br />
The U.S. economy gained muscle at the end of 2010 but remains so weak that inflation pressures are muted and the jobs market still soft, a Federal Reserve survey of regional economies showed Wednesday. <br />
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In its latest beige book, the Fed said all of its 12 districts reported some form of strengthening in economic activity in November and December. However, the expansion was "moderate" as strength in the manufacturing and retail sectors were offset by weakness in real estate and financial services. <br />
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The beige book is a summary of economic activity prepared for use at the U.S. central bank's next policy-setting meeting January 25-26. The latest report, prepared by the Boston Fed, examined economic conditions across the Fed's 12 regions based on information collected on or before Jan. 3. With unemployment high and inflation low, Fed officials are expected to keep in place their easy-money policies later this month. <br />
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Economic conditions were defined as "improving" in the Boston, New York, Philadelphia, and Richmond Fed districts. The economy in the Cleveland, Atlanta, Chicago, St. Louis, Kansas City, and Dallas Fed areas increased "modestly to moderately." The Minneapolis Fed region "continued its moderate recovery," while that of the San Francisco District "firmed further." <br />
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Consumer spending, accounting for about two-thirds of demand in the U.S. economy, appears to be strengthening since the last Fed beige book was released Dec. 1. Retailers in all the 12 districts indicated that sales were higher in the 2010 holiday season than in 2009. In some areas, they even beat expectations. <br />
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"Boston, Richmond, Atlanta, Chicago, and Kansas City observed consumers positively reacting to promotions and discounting, although Philadelphia and San Francisco reported that retailers relied less heavily on discounting," the Fed report showed. <br />
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Recent strong gains in U.S. retail sales, including car sales, and industrial production suggest the pace of economic expansion accelerated in the final three months of 2010 compared to the previous quarter. Fed Chairman Ben Bernanke last week told Congress the economy should improve in 2011, but cautioned the 2007-2009 recession was so severe that unemployment is expected to remain high and inflation low for a long time. <br />
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In most regions, retailers and manufacturers reported that costs were rising, the Fed report showed. But the pass-through to final prices has been modest due to intense competition. <br />
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Import prices rose for the second year in a row in 2010, increasing 4.8% on the back of higher energy and other raw material prices, a government report showed Wednesday. But that hasn't fed into broader price pressures in the U.S. economy, which remain at a low level close to 1.0%. <br />
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The beige book showed the jobs market was firming in most part of the country, with some companies expanding their workforce. At the same time, however, the persistently high unemployment is helping to keep upward pressure on wages "very limited." <br />
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The housing sector, meantime, remained in the doldrums at the end of last year. Residential real estate and new home construction were slow across the country. <br />
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"Most Districts indicated that business contacts were positive about the outlook, although still generally cautious," the beige book said. <br />
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</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. IMPORT PRICES RISE 1.1% IN DECEMBER</span></div><i><b><span style="font-family: Arial,Helvetica,sans-serif;">Fuel and Food Lead Import Price Rise</span></b></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Labor Department reported that U.S. import prices rose 1.1% in December, on higher prices for fuel and non-fuel imports, in line with consensus estimates. Prices for fuel imports rose 4.1% in December, while prices for non-fuel imports gained 0.3%. </span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">ILLINOIS HOUSE PASSES </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BIG INCOME-TAX INCREASE</span><br />
The Illinois House passes a massive income-tax increase to help the state dig out of a $13 billion deficit, despite opposition from Republicans and business groups.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">HOME BUILDERS EXPECT </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">INCREASED 2011 STARTS</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Builders expect to start construction on 575,000 single-family homes this year, up 21% from last year, according to the National Association of Home Builders, but the market remains fragile as housing's recovery struggles to take hold.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US BUDGET DEFICIT $80.0 BILLION</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> DOLLARS FOR DECEMBER</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The U.S. budget deficit contracted in December, but the </span><span style="font-family: Arial,Helvetica,sans-serif;">government still spent $80.0 billion more than it </span><span style="font-family: Arial,Helvetica,sans-serif;">collected, adding to the country's already high level of </span><span style="font-family: Arial,Helvetica,sans-serif;">debt. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The bloated Government could reach its debt limit of nearly $14.3 </span><span style="font-family: Arial,Helvetica,sans-serif;">trillion as early as March 31, 2011.</span> <span style="font-family: Arial,Helvetica,sans-serif;">With the continued widening deficits, the government could </span><span style="font-family: Arial,Helvetica,sans-serif;">reach its debt limit of nearly $14.3 trillion as early as </span><span style="font-family: Arial,Helvetica,sans-serif;">March 31. Lawmakers have lifted the ceiling 10 times over </span><span style="font-family: Arial,Helvetica,sans-serif;">the past 10 years, and Treasury Secretary Timothy Geithner </span><span style="font-family: Arial,Helvetica,sans-serif;">is pushing for another raising of the debt limit. But, in </span><span style="font-family: Arial,Helvetica,sans-serif;">exchange, Republicans in Congress want spending cuts. </span> <br />
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<i><span style="font-family: Arial,Helvetica,sans-serif;">December marked the government's 27th deficit shortfall </span><span style="font-family: Arial,Helvetica,sans-serif;">in a row. </span></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">In the first three months of fiscal 2011, which began Oct. </span><span style="font-family: Arial,Helvetica,sans-serif;">1, federal spending totaled $902.62 billion, including </span><span style="font-family: Arial,Helvetica,sans-serif;">$56.78 billion in interest payments on the government's </span><span style="font-family: Arial,Helvetica,sans-serif;">debt. Revenue was $531.80 billion, which are higher than </span><span style="font-family: Arial,Helvetica,sans-serif;">the same period last year as a stronger economy pulls in </span><span style="font-family: Arial,Helvetica,sans-serif;">more taxes. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Treasury Department's regular monthly statement on </span><span style="font-family: Arial,Helvetica,sans-serif;">spending and revenue Wednesday showed an $80.00 billion </span><span style="font-family: Arial,Helvetica,sans-serif;">shortfall during last month. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The December deficit met expectations and was smaller than </span><span style="font-family: Arial,Helvetica,sans-serif;">the $91.41 billion shortfall in the same month a year </span><span style="font-family: Arial,Helvetica,sans-serif;">prior. Also, the gap wasn't as wide as October 2010's </span><span style="font-family: Arial,Helvetica,sans-serif;">deficit of $140.43 billion or November's $150.39 billion. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The deficit for the first three months of fiscal year 2011 </span><span style="font-family: Arial,Helvetica,sans-serif;">topped $370 billion. And when fiscal 2011 ends Sept. 30, </span><span style="font-family: Arial,Helvetica,sans-serif;">the deficit for the year might be the biggest ever. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Washington ran a $1.294-trillion deficit in fiscal 2010 </span><span style="font-family: Arial,Helvetica,sans-serif;">and a record $1.416 trillion in fiscal 2009 as the U.S. </span><span style="font-family: Arial,Helvetica,sans-serif;">trudged through a deep recession. Yet even though the </span><span style="font-family: Arial,Helvetica,sans-serif;">economy is healing, recovery is slow because of high </span><span style="font-family: Arial,Helvetica,sans-serif;">joblessness. Some private analysts think this year's </span><span style="font-family: Arial,Helvetica,sans-serif;">deficit might set an all-time high because of the recent </span><span style="font-family: Arial,Helvetica,sans-serif;">extension of income-tax cuts. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The tax cuts are another government tool designed to spur </span><span style="font-family: Arial,Helvetica,sans-serif;">the economy. The extension drew criticism amid a push to </span><span style="font-family: Arial,Helvetica,sans-serif;">bring down future deficits. Concerns about a burgeoning </span><span style="font-family: Arial,Helvetica,sans-serif;">national debt abound as the U.S. population ages and </span><span style="font-family: Arial,Helvetica,sans-serif;">strains entitlement programs such as Social Security and </span><span style="font-family: Arial,Helvetica,sans-serif;">Medicare that make up a big chunk of government spending. </span><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">TUESDAY:</span></b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CBOT/USDA GRAIN REPORT</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> DUE WEDNESDAY</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Traders Await Government Crop Data</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">U.S. corn futures face a risk of falling if highly anticipated government crop reports fail to shock the market by tightening supplies more than expected, analysts said. <br />
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The U.S. Department of Agriculture will issue fresh estimates on U.S. and global grain production, supplies and demand at 8:30 a.m. EST Wednesday. Market participants widely expect the government to tighten its supply outlook because of poor weather and solid demand. <br />
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However, recent rallies to 29-month highs have priced in the potential for reductions, analysts said. Futures prices could come under pressure Wednesday in a "buy the rumor, sell the fact" scenario if the government's adjustments don't surprise market participants, they said. <br />
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"A neutral corn report is going to be a bearish corn report," said John Kleist, broker and analyst at Allendale, an Illinois-based brokerage firm. <br />
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Corn for March delivery, the most-active contract, on Tuesday closed unchanged at $6.07 a bushel at the Chicago Board of Trade as traders waited for the government to release the reports. The contract trimmed gains after reaching an intraday high of $6.15 1/2. <br />
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There is a "fair amount" of risk for a "buy the rumor, sell the fact" scenario Wednesday, said Jeff Hainline, director of Advance Trading, a commodity brokerage firm. Hainline, who started working in the commodities business in 1977, said it was "the most bullishly anticipated report in my lifetime." <br />
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Traders began looking ahead to USDA's January crop reports in November after the USDA cut its corn-harvest estimate for the third consecutive month. The government traditionally doesn't adjust production estimates in its December reports and didn't do so this year. <br />
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Analysts, on average, expect USDA to project corn supplies at the end of the crops' marketing year on Aug. 31 at 778 million bushels, down from the government's December estimate of 832 million bushels, a 15-year low. The range of their estimates is 681 million to 884 million bushels. </div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Ethanol futures traded mixed as traders waited for federal forecasters to release the crop reports. Ethanol for March delivery edged up 0.3 cent, or 0.1%, to $2.26 per gallon at the CBOT. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Oat futures edged higher in light trading. Oats for March delivery settled up 2 1/2 cents, or 0.7%, at $3.82 a bushel.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CONSUMER CONFIDENCE DROPS </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">ABC News Consumer Confidence Idx -40 In Jan 9 Week<br />
Confidence drops sharply, erasing a positive trend as job losses mount.</div><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">JOB OPENINGS FALL</span><br />
U.S. job openings fall in November for the third time in four months, a Labor Department report says.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">BANK OF CHINA OPENS YUAN</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;"> TRADING TO US CUSTOMERS</span></div><span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">Bank of China has opened trading in the Chinese currency to customers in the U.S., representing a symbolic endorsement by Beijing of foreign trading in the yuan. The move is the first by a state-owned bank into yuan trading in the U.S.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> <span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. CHAIN STORE SALES DOWN 3.2%</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index slides 3.2% in the week ended Saturday on a seasonally adjusted, comparable-store basis, ending four consecutive weeks of growth.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US CHAMBER - POSITIVE NOTE</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> ON ECONOMY</span><br />
U.S. Chamber of Commerce is forecasting economic growth of 3.2% in 2011 and is "cautiously optimistic" that the economic recovery will continue in the coming year, with the creation of 2.4 million to 2.6 million net new jobs.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US WHOLESALE INVENTORIES DECLINE</span><br />
Inventories of wholesalers unexpectedly dips 0.2% in November to an adjusted $425.54 billion, as their sales surge going into the holiday shopping season. Economists had been expecting a 0.9% rise in goods stockpiled by distributors. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">HOME BUILDERS CAUTIOUS </span><br />
Despite the economy showing signs of growth, home-builders' confidence remained low in December, Amy Hoak writes, but recent data is giving builders reason to be a bit more optimistic. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US SMALL-BUSINESS OPTIMISM</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> INDEX DECLINED IN DECEMBER</span><br />
After four consecutive gains, the National Federation of Independent Business index of small-business optimism slips by 0.6 point to 92.6 in December. Even so, small-business owners expect an improvement in demand. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US Consumer-Credit Delinquencies</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Higher In Third Quarter</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Consumer-credit-delinquency rates in the U.S. ticked higher in the third quarter of 2010 as the labor market "hit the pause button," according to a report released Tuesday by the American Bankers Association. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The ABA's composite ratio, which tracks delinquencies in eight loan categories, gained one basis point to 3.01% in the third quarter from 3% in the second quarter, according to the ABA. A delinquency is a late payment that is at least 30 days overdue. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"The economy just skipped a beat in the third quarter," said James Chessen, ABA's chief economist, in a statement. "It doesn't move in a straight line, and neither do consumer-credit delinquencies." </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The ABA reported that delinquencies for bank cards, which are credit cards provided by a bank, "were stable," rising two basis points to 3.64%, compared with the 15-year average of 3.92%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Chessen said he thinks delinquencies will improve in coming months, depending on the strength of the labor market. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"There's less uncertainty about the economy now, and consumers and businesses feel more confident," Chessen said. "We are also encouraged by lower consumer-debt levels and higher personal-savings rates. This will help rebuild a sense of financial stability." </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Among eight types of closed-end loans, there were increased delinquencies in four categories, decreased delinquencies in three categories, and one category with unchanged delinquencies: </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">--Delinquencies for direct auto loans rose to 1.74% in the third quarter from 1.67% in the second quarter </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> --Delinquencies for indirect auto loans rose to 3.02% from 3.01% </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> --Delinquencies for home-equity loans rose to 4.05% from 3.97% </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> --Delinquencies for personal loans rose to 3.68% from 3.55% </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> --Delinquencies for marine loans fell to 2.04% from 2.2% </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> --Delinquencies for property-improvement loans fell to 1.23% from 1.35% </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> --Delinquencies for RV loans fell to 1.53% from 1.63% </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> --Delinquencies for mobile-home loans remained at 4.01% </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> Among three types of open-end loans, there were two categories with decreased delinquencies and one with increased delinquencies: </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> --Delinquencies for home-equity lines of credit fell to 1.74% from 1.81% </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> --Delinquencies for non-card revolving loans fell to 1.09% from 1.21% </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> --Delinquencies for bank cards rose to 3.64% from 3.62%</span> <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">EUROPE, CHINA AND JAPAN</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> TACKLE EURO DEBT</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The European Central Bank stepped in to buy under-pressure euro-area government bonds for the second consecutive day. The Japanese Finance Minister Yoshihiko Noda said Tokyo may buy more than 20% of the securities issued by the European Financial Stability Facility in its initial round. The announcement follows reports that China is ready to buy EUR4 billion to EUR5 billion of Portuguese debt. <br />
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"Between China and Japan, that's a lot of buying power that at least buys time and gives them a chance to attempt to restructure without having a crisis in the short term," said John Apruzzese, partner and equity portfolio manager at Evercore Wealth Management. "That's definitely a help." </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Japan plans to buy a major portion of the European bonds being auctioned this month to finance emergency loans to Ireland, the Japanese government said Tuesday.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Finance Minister Yoshihiko Noda said his government may buy one-fifth of the bonds being issued this month by the European Financial Stability Facility, a last-resort fund for countries that use the euro common currency.<br />
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The European Union created the Luxembourg-based fund in May as it scrambled to save Greece from national bankruptcy. In November, Ireland became the second euro member to require an international bailout amid crippling debts at Dublin banks.<br />
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The Luxembourg fund, which is backed by the European Investment Bank and Germany's debt management agency, is expected to auction about euro5 billion (US$6.5 billion) of bonds this month to fund the first stage of its planned euro22.5 billion (US$29.2 billion) contribution to the emergency loan for Ireland.<br />
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A wider European Union fund and the Washington-based International Monetary Fund are drumming up identical amounts, taking Ireland's global credit line to a potential euro67.5 billion (US$87.6 billion) — about euro15,000 (US$19,500) for every man, woman and child in Ireland.<br />
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</div><span style="font-family: Arial,Helvetica,sans-serif;">European Union governments are discussing proposals to increase the EUR440 billion ($569.98 billion) bailout fund for indebted euro-zone countries, a recognition that the fund might prove too small if the region's debt crisis spreads to Spain, according to European officials. </span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">Public broadcaster NHK reported that the government plans to invest around 100 billion yen (euro935 million, US$1.2 billion) using its foreign reserves. This would represent 18.7 per cent of the expected euro5 billion auction foreseen by European analysts.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Tokyo already has invested about euro1.2 billion (US$1.55 billion) into the International Monetary Fund's portion of the Irish bailout, according to Japan's largest newspaper, Yomiuri. It said Japan appeared determined to help bolster the euro and keep the yen from rising further versus the currency, which makes Japanese imports more expensive in the 17-nation eurozone.</div><div style="font-family: Arial,Helvetica,sans-serif;">Noda's pledge helped to lift European markets, which have been rattled in recent weeks by rising fears that Portugal soon could be forced to join Ireland and Greece in seeking an international bailout.</div><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">Tuesday Portugal resisted pressure to seek a bailout. The debt-laden euro-zone member is due to seek between EUR750 million and EUR1.25 billion at a sovereign-bond auction scheduled for Wednesday, and recent trading of its existing bonds saw interest rates brush past the 7% level. <br />
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"Portugal won't ask for any financial help because it's not necessary," Prime Minister Jose Socrates told reporters Tuesday, after announcing the country cut its budget deficit by more than expected. <br />
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However, the country's slow pace of recovery and high debt costs leave many market participants questioning its ability to repay loans. <br />
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"The European debt situation will remain a concern," said Frank Lesh, broker at FuturePath Trading. "Their economies are in trouble, you're not going to have one auction and fix Europe. We'll be watching European debt auctions and activity for months to come." <br />
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Portugal's troubles are just the latest chapter in Europe's ongoing sovereign-debt crisis. The growing line-up of euro-zone members struggling with higher financing costs and rising credit obligations has left many investors dissatisfied with the risks of holding paper currencies. Investors were particularly shaken last year when the euro's future came under threat from Greece and Ireland, as each country sought rescue financing to cover sprawling sovereign debts.<br />
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Krishna Memani, director of fixed income at OppenheimerFunds, says he would snap up Spanish government debt if pressures in the euro zone escalate even more and make it cheaper to buy. Spain will sell debt on Thursday. </div><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY:</b></div><br />
<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">CHICAGO BUSINESS BAROMETER</span></span><br />
<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;"> REVISED DOWNWARD</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The U.S. economy continued to grow in December but a slower pace than previously estimated, according to the Institute for Supply Management-Chicago, which revises its December business barometer to 66.8 from 68.6.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FISHER SEES FED BOND</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BUYING TO BE COMPLETED</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dallas Fed President Richard Fisher says the Federal Reserve's bond buying program is likely to run its planned course and stop, and it would take a lot to drive the central bank to go beyond what it has said it will do.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">US Fed Estimates 2010 Net Income At $80.9 Billion </span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The U.S. Federal Reserve's 2010 net income grew to $80.9 billion largely due to a boost in earnings from securities it acquired during the financial crisis, according to preliminary unaudited results the central bank announced Monday. <br />
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The income surge--a significant jump from its record-breaking $53.4 billion in earnings in 2009--makes way for the Fed to transfer about $78.4 billion to the Treasury Department. <br />
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The $78.4 billion in payments represents a 65% increase over the 47.4 billion the Fed paid the Treasury in 2009. Fed officials said the bulk of the payments have already been distributed to Treasury.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Providing a preliminary overview of its 2010 finances, the Fed said the estimated 2010 net income was derived primarily from $76.2 billion in income on federal agency and government-sponsored enterprise, or GSE, mortgage-backed securities, U.S. Treasury securities, and GSE debt securities. In contrast, 2009 income from those securities totaled $48.8 billion, Federal Reserve officials said on a conference call with reporters Monday morning. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Fed said $7.1 billion in net income came from consolidated limited liability companies that were created in response to the financial crisis; $2.1 billion in interest income from credit extended to American International Group, Inc.; $1.3 billion of dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC; and $0.8 billion in interest income on loans extended under the Term Asset-Backed Securities Loan Facility (TALF) and loans to depository institutions. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Fed officials said they expect to release final financial results this spring.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">New York City Comptroller John C. Liu added to the pressure Sunday, as he led seven public pension systems, which hold $430 billion combined in investments, in demanding the banks start more independent examinations of their processes. Bank of America slipped 0.7%, J.P. Morgan Chase declined 1.2%, Wells Fargo fell 1.4% and Citigroup slid 1.1%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Responding to a growing wave of foreclosures, the Federal Deposit Insurance Corporation is considering whether to impose new disclosure requirements on big banks seeking to package and sell mortgage securities to investors. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">U.S. Treasury Secretary Timothy Geithner and French finance minister Christine Lagarde met Monday morning to discuss Europe's economic woes and plans to rebalance the global economy. <br />
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Geithner's top concerns are encouraging European officials to take quick and assertive action to contain the sovereign-debt crisis, and developing a strategy within the Group of 20 major nations to rein in widening global economic imbalances. <br />
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Lagarde is seeking to cajole the U.S. into supporting France's agenda of reforming the international monetary system. French President Nicolas Sarkozy, visiting with President Barack Obama Monday, has said he plans to use his country's chairmanship of the G-20 to champion restrucuturing of the world's reserve currency system. <br />
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French officials complain that reliance on the U.S. dollar during the global financial crisis has been a major factor in exacerbating volatile capital flows as investment flows from low-interest-rate, rich countries to high-yield emerging nations. <br />
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The Obama administration says far more vital to the global economy right now is getting the European sovereign-debt crisis under control. Greece and Ireland have already needed emergency bailouts and markets are speculating that Portugal may need external assistance as well. <br />
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While International Monetary Fund and Treasury officials say they don't believe Spain will need a rescue package, some economists and analysts paint a more pessimistic picture. Spain's economy eclipses those of Portugal, Ireland and Greece, and, as one of the major drivers of the European economy, fiscal failure could trigger another global recession. <br />
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Although European officials are debating a new package of programs that could help to cordon off contagion, the U.S. is concerned that the markets will sell off sovereign debt before Brussels acts. Washington is also fearful that Europe's actions may be retroactive--loaning cash after a financial disaster--rather than proactive--stemming the problem before it occurs. </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Thousands Protest at Bangladesh Stock Exchange</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Bangladesh suspended trading at its main stock exchange Monday after a market plunge ignited protests by thousands of investors.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. EQUITY NEWS:</span></div><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY:</b></div><br />
<span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;">JP MORGAN PROFIT JUMPS</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Bank's 4Q profit climbs 47% to $4.83 billion, or $1.12 a share, beating analysts' expectations, as asset quality improves and revenue increases, while it continues to set aside less to cover potential credit losses.J.P. Morgan Chase led the Dow's climb with a 3.2% jump. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">PNC Financial Services Group climbed 4.5%, Morgan Stanley added 2.5% and Wells Fargo rose 2.4%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Coinstar tumbled 25%. The company, which operates coin-counting stations and redbox DVD-rental kiosks, slashed its financial outlook for the fourth quarter and current year. The company has been hurt by weak holiday rentals and a delay it has had to put on some new DVD releases. <br />
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Sterling Bancshares climbed 2.8%. The bank has put itself on the auction block, The Wall Street Journal reported, citing people familiar with the situation. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">INTEL PROFITS UP </span></span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">Intel Corp.’s fourth quarter net income jumped 48 per cent to US$3.39 billion or 59 cents a share, beating expectations of 53 cents a share. However, the results were based mainly on strong demand from corporations. The rise of smaller and sleeker gadgets such as the iPad have hurt consumers’ appetite for new PCs. Intel's shares dipped 18 cents to US$21.11..</div><br />
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<b>WEDNESDAY:</b> <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">AIG SHARES DECLINE</span><br />
American International Group slipped 0.2% after the giant insurer decided to sell its Taiwan unit, Nan Shan Life Insurance, to Taiwan's Ruen Chen Investment Holdings for $2.16 billion, another step forward in the U.S. insurer's efforts to repay U.S. government bailout funds. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">LULUEMON GAINS</span><br />
Yoga-wear retailer Lululemon climbed 8.9% as it significantly boosted its fourth-quarter outlook on stronger-than-expected revenue. <br />
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<span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;">ZALES SURGES</span></span><br />
Jewelry retailer Zale surged 33% after posting a 8.5% increase in same-store sales for the last two months of the year, which the company said represented progress in its efforts to stabilize its business. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">CAMPBELL-SWIRE TO MARKET SOUPS IN CHINA</span><br />
Campbell Soup is forming a joint venture with Swire Pacific to sell soup and broths in the world's second-largest economy. Profits and losses will be shared, say the companies although Campbell will control 60% of the joint venture.<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">ITT TO SPLIT INTO 3 PUBLICLY TRADED COMPANIES</span><br />
ITT plans to split into three publicly traded companies, spinning off its water-related businesses and its defense and information segment, a shift from the piecemeal restructuring efforts the manufacturing conglomerate had made. Shares rise 20%. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">CARGILL PROFIT TRIPLES ON PROCESSING SEGMENT</span><br />
Global meatpacking, grain processing and food business reports a fiscal 2Q profit of $1.49 billion, helped by strong returns from its Mosaic stake. Cargill's revenue climbs 16% to $31.1 billion.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">DECEMBER ONLINE SALES SURGE 12%</span><br />
Online sales climb 12% in December year-over-year as consumers' average order value climbs 11%, according to a survey by IBM. Smart phones and other mobile devices continue to claim a bigger slice of the online market.<br />
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<b>TUESDAY:</b> </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">VERIZON WIRELESS UNVEILS</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;"> ITS VERSION OF APPLE IPHONE </span><br />
Verizon Wireless unwraps its highly anticipated version of the Apple iPhone, ending AT&T's exclusive hold over the blockbuster smartphone. The phone will be available Feb. 10 and sell in $199.99 and $299.99 versions. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Times,"Times New Roman",serif; font-size: large;">SEARS UP ON 4Q VIEW</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;"> Retailer predicts fiscal 4Q earnings above analysts' expectations, although domestic same-store sales dip 6% and overall same-store sales fall 1.7% in December. Sears shares jump 7%.</span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">LENNAR PROFIT TOPS VIEWS</span><br />
Homebuilder's fiscal 4Q profit drops 10% following prior-year earnings that were buoyed by a hefty tax gain, but results beat expectations as margins soared on a reduction in incentives and other cost cutting. Shares up 6%. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">TALBOTS SLASHES FISCAL 4Q ESTIMATES</span><br />
Women's apparel retailer now expects to post a loss from continuing operations in the fiscal fourth quarter of 15c-19c a share, owing to a dropoff in sales that began in the second half of December. Shares drop 20%.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">GOLDMAN SPLITS INCOME UNITS</span><br />
Goldman Sachs announced today that the Investment bank breaks its trading and principal investments business segment into two separate categories, one of several changes made to its quarterly reports after an eight-month review of its business practices.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">AMGEN ESTIMATES 2010 EARNINGS</span><br />
Amgen expects to report 2010 earnings slightly below Wall Street expectations, but roughly in line with the company's previous projections. It expects 2010 adjusted earnings in the middle of a range of $5.05 to $5.10 per share.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">ARM MAKES DEALS AT CES </span><br />
ARM Holdings, the nearly 21-year-old British chip-design firm, finally gets its day in the sun, revealing two new partner at the Consumer Electronics Show with deals that are likely to reverberate throughout the tech world. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">COMVERSE EXPECTED TO SELL VERINT</span><br />
Software maker is likely to pursue a sale of its subsidiary Verint Systems after the parent company files the last of its outstanding financial reports with regulators, and a deal could fetch $2 billion, people familiar with the matter say.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">APOLLO IN TALKS TO BUY ZALE UNIT</span><br />
Apollo Management has emerged as the leading contender to purchase Zale's s Piercing Pagoda, a chain of mall-based jewelry kiosks, The Wall Street Journal reports, citing people with knowledge of the negotiations.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY:</b></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Alcoa Inc. (AA) swung to a fourth-quarter profit as the economic recovery boosted aluminum prices, and the aluminum maker said it expected demand would stay strong. </span><span style="font-family: Arial,Helvetica,sans-serif;">The bottom line topped analysts' expectations, although sales growth wasn't as strong as Wall Street had expected. Shares slid 1.5% to $16.27 in after-hours trading. Alcoa rose 0.43% ahead of its fourth-quarter earnings report. Analysts surveyed by Thomson Reuters expected a profit of 19 cents on revenue of $5.71 billion. </span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Standard Microsystems Corp. (SMSC, $26.84, -$2.90, -9.75%) swung to a fiscal third-quarter loss as charges masked rising revenue and margins. The semiconductor-equipment and circuits maker also agreed to acquire Conexant Systems Inc. (CNXT, $2.16, +$0.27, +14.29%) for about $185 million.<br />
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Edison International's (EIX, $38.13, -$0.61, -1.57%) southern California utility made a major solar-power deal with SunPower Corp. (SPWRA, $14.62, +$1.18, +8.78%) (SPWRB, $14.00, +$1.10, +8.53%) and Spain's Fotowatio Renewable Ventures Inc., it said Monday.<br />
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Bank of America Merrill Lynch cut its rating on security-software and storage vendor Symantec Corp. (SYMC, $17.05, -$0.50, -2.85%) to underperform from neutral saying it believes the stock has appreciated mainly on break-up chatter which it assigns a low probability.<br />
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Telular Corp. (WRLS, $7.03, +$0.26, +3.84%), a provider of wireless technology, boosted its earnings forecast for the year as it said it is acquiring a third-party operation that sells its tank monitoring offerings.<br />
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Bank of America Merrill Lynch raised its rating on Taleo Corp. (TLEO, $30.98, +$0.86, +2.86%), a human-resources software maker, to buy from neutral, noting the Street may be underestimating bookings and revenue acceleration potential. The firm said Taleo is getting an increased portion of bookings from adjacent segments like performance management, signaling higher structural growth.<br />
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Jefferies downgraded Texas Industries (TXI, $40.48, -$1.67, -3.96%) to hold from buy, citing better-than-expected second-quarter results. The firm said it also anticipates higher production costs in the third quarter, as well as selling prices for both cement and aggregates to be broadly flat in the third and fourth quarter.<br />
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Union Pacific Corp. (UNP, $97.36, +$2.18, +2.29%) shares gained after the nation's largest railroad was mentioned in Barron's. The article said that with oil prices up, trucks are proving increasingly weak competition. With demand for commodities booming, there's plenty for Union Pacific to haul across its 33,000 miles of track. Additionally, the company has been cutting costs and preparing to raise prices.<br />
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Uroplasty Inc. (UPI, $5.04, +$0.48, +10.53%) said its fiscal third-quarter revenue rose 13% to about $3.5 million, driven by U.S. sales growth, particularly for the medical-device company's overactive bladder treatment Urgent PC.<br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Verizon Wireless will officially announce Tuesday that it will carry Apple's iPhone, which initially had only been available on the AT&T network. Sprint Nextel sank 3.4% and AT&T shed 2%, while shares of Verizon Communications edged up 0.2%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Playboy Enterprises soared 17% after agreeing to be taken private by an entity controlled by its founder and controlling shareholder Hugh Hefner in a deal valued at about $207.3 million, ending a month's long wrangling over the future of the media and entertainment company. </span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">DuPont fell 3.2% after agreeing to acquire Denmark's Danisco, an enzyme and specialty-food-ingredients company, in a $6.3 billion deal. DuPont will pay $5.8 billion in cash and assume $500 million of Danisco net debt. </div><div style="font-family: Arial,Helvetica,sans-serif;">Duke Energy shed 0.9% after agreeing to acquire Progress Energy in an all-stock deal valued at about $13.7 billion, creating the country's largest utility. Shares of Progress Energy weakened 0.8%.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Strayer Education plunged 25% as the for-profit education company slashed its 2011 forecast after reporting that new-student enrollment for its winter term fell 20% from the prior year. Sterne Agee cut the company's stock-investment rating to sell from neutral. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Denmark's Danisco urges its shareholders to accept a 665 Danish kroner ($115.2) per share takeover offer from DuPont that values the food ingredients and enzymes maker at DKK36.1 billion ($6.3 billion).</div><div style="font-family: Arial,Helvetica,sans-serif;">Alcoa will restart production lines in three locations during the first half of the year, boosting production by 137,000 metric tons over the course of 2011. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Shares in BP fall after the U.K.-listed oil giant and other oil producers are forced to shut down some 600,000 barrels a day of output on Alaska's North Slope, following a leak that closing the Trans Alaska pipeline.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Myspace is expected to lay off 550 to 600 of its staff of just over 1,000 tomorrow, according to several sources. After the layoffs, the News Corp.-owned Myspace will turn its sights to sale options. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Market:</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"></div><b><span style="font-family: Arial,Helvetica,sans-serif;">FRIDAY:</span></b><br />
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<span style="font-size: x-large;"><span style="font-family: Georgia,"Times New Roman",serif;">Toronto Stocks Mixed to Higher</span></span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">The banking sector propelled Toronto stocks to their highest level since August 2008 on Friday, after J.P. Morgan posted better-than-expected results and gains in industrial production and business sales cheered investors. However, lower gold prices provided a counterbalance. <br />
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The S&P/TSX Composite Index rose 62.58 points, or 0.47%, to 13464.06. Advancers outpaced decliners 946 to 756. Trading volume was 589.7 million shares, down from Thursday's total of 621.7 million shares. The S&P/TSX 60 Index closed up 4.74 points, or 0.6%, to 771.68.<br />
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The stock market's key index was little changed in mixed trading at midday Friday as a sharp drop in spot gold prices hurt the miners, but the banking sector pushed higher on expectations of good corporate earnings. <br />
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At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was up 1.91 points, or 0.01%, at 13403.39. However, decliners outweighed advancers 753 to 683. Trading volume was 243.0 million shares. The S&P/TSX 60 Index was up 1.45 points, or 0.2%, to 768.39 points. <br />
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The resource-heavy S&P/TSX composite index slipped 6.3 points to 13,395.18 while the TSX Venture Exchange lost 18.22 points to 2,270.78. Falling prices for oil and gold helped push the Canadian lower against the American currency, down 0.28 of a cent to 100.81 cents US.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>Toronto Indexes, Friday Volume; 4 PM EST Composite Up 25.21</b><br />
S&P/TSX Composite 13464.06 up 62.58 or 0.5%<br />
S&P/TSX 60 Index 771.68 up 4.74 or 0.6%<br />
Financials 186.97 up 3.24 or 1.8%<br />
Materials 425.33 off 5.35 or 1.2%<br />
Energy 325.14 up 2.00 or 0.6%<br />
Industrials 114.04 up 0.80 or 0.7%<br />
IT 32.02 up 0.40 or 1.3%<br />
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<b>Volume Friday Thursday</b></div><span style="font-family: Arial,Helvetica,sans-serif;"> 3-4:15 109.5M 118.2M</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> 9:30-4:15 589.70 622.5M</span><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">ECONOMIC NEWS: </span></b><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> <span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">HOUSING ACTIVITY INCREASED</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Canadian housing sales activity higher than expected in fourth quarter.</span><span style="font-family: Arial,Helvetica,sans-serif;">The Canadian Real Estate Association says housing resale activity was higher than anticipated last year due to a strong fourth quarter but sill below 2009.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">About 447,000 homes traded over CREA's Multiple Listing Service last year, down 3.9 per cent from 2009. Actual sales last month were down 14.4 per cent compared to the record-setting December 2009, but still slightly ahead of the 10-year average.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Canadians rushed into the market in late 2009 and early 2010 to take advantage of historic interest and mortgage rates, then plunged to a trough in last summer. CREA says December sales were up 18.3 per cent from that low reached in July. It also says the national average price for homes sold last month was $344,551 — stable with October and November and up two per cent from December 2009.</div><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">TRUCK SALES INCREASED</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>New vehicle sales increased in seven provinces in November.</b></i></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">StatsCan announced Trucks on the move as new vehicle sales rise in November. </span><span style="font-family: Arial,Helvetica,sans-serif;">The number of new vehicles sold in November was up 0.3 per cent to 135,823 on the strength of rising truck sales.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">Statistics Canada reports preliminary industry data indicate the number of new vehicles sold in December fell five per cent.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Sales of trucks (which include minivans, sport-utility vehicles, light and heavy trucks, vans and buses) increased 1.2 per cent to 75,916 in November, partially offsetting October's decline.</div><div style="font-family: Arial,Helvetica,sans-serif;">Truck sales have been consistently higher than sales of passenger cars since late 2009.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Sales of passenger cars declined 0.8 per cent to 59,907 after two straight months of increases.</div><div style="font-family: Arial,Helvetica,sans-serif;">The agency says a two per cent decrease in sales of North American-built passenger cars was partially offset by a 0.8 per cent increase in sales of overseas-built passenger cars.</div><div style="font-family: Arial,Helvetica,sans-serif;">Sales numbers for both North American and overseas-built passenger cars remains below those in 2009.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">COMPANY NEWS:</span></b><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Canadian Miners Inmet, Lundin To Create Copper Giant </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Inmet Mining Corp.'s (IMN.T, IEMMF) planned merger with Lundin Mining Corp. (LUN.T, LUNMF) will catapult the combined C$9 billion miner among the world's biggest copper producers as demand for the widely used industrial metal shows no signs of easing.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Kinross Gold Corp. (TSX:K) shares were down five cents to $17 after it said Friday it produced between 2.3 million and 2.35 million gold equivalent ounces for 2010, in line with its earlier guidance. The company’s forecast average cost was between $505 and $520 per gold equivalent ounce.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Baytex Energy Corp. (TSX:BTE) has agreed to purchase heavy oil assets in northern Alberta and western Saskatchewan. The assets, worth $156.5 million, are being acquired through the a corporate acquisition of a private company and an asset acquisition.</span> <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">CanElson Drilling Inc. (TSXV:CDI) will acquire eight rigs in the Bakken area of southeast Saskatchewan under a proposed agreement to buy Eagle Drilling Services Ltd. The deal is valued at $78 million, including $17.1 million of assumed debt. Eagle Drilling shareholders will receive $20 million in cash and $41 million of CanElson shares at a deemed price of $4.15 per share.</div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Baytex Energy Corp. (TSX:BTE) has agreed to purchase heavy oil assets in northern Alberta and western Saskatchewan. The assets, worth $156.5 million, are being acquired through a corporate acquisition of a private company and an asset acquisition. Its shares rose 10 cents to $47.</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<b><span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;">THURSDAY: </span></span></b><br />
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<span style="font-size: x-large;"><span style="font-family: Georgia,"Times New Roman",serif;">Toronto Stocks Mixed to Lower</span></span><span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;"> </span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Energy and Industrials are the only two sectors advancing Thursday. The TSX main index is off 3.85 points in afternoon trades.The Toronto stock market appeared set for a flat open Thursday amid major merger activity in the Canadian mining sector and little movement in commodity prices. The Canadian dollar was down 0.15 of a cent to 101.18 cents US. The loonie was down 0.18 of a cent to 101.15 cents US.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>ECONOMIC NEWS:</b></div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canada PM Says Low Taxes</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> Keep Economy Growing</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Canadian Prime Minister Stephen Harper said Thursday that his government is committed to keeping taxes low. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"I think it is very obvious to everybody who is looking at the relative success of the Canadian economy in a challenged global environment that the way to keep this economy growing is to keep taxes down for businesses and consumers. That's what this government is committed to doing," Harper said in a televised news conference in Mississauga, Ont. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The main opposition Liberal party wants the government to stop cutting corporate taxes until the budget deficit is eliminated. Harper said he's willing to listen to ideas from the opposition for the 2011 Budget. But he said the opposition seems to change its position. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"I'm always willing to listen to the opposition parties, but some days, it's kind of a moving target," he said. Harper also said his Conservative Party opposes direct public subsidies to political parties, but his minority government cannot eliminate the payments on its own. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"Obviously, in a minority parliament we can't change that because we're the only party that has that position," he said. "A subsidy where parties make no effort whatsoever to raise money is not acceptable." </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">He said taxpayers also oppose the subsidies and suggested that his Conservative party will campaign to end them at the next election campaign. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Earlier, Harper announced the creation of a commission to reduce red tape for small businesses. He said Canadian businesses spend "billions of dollars each year adhering to regulations." </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"Small and medium-sized businesses are a critical driver of the Canadian economy," Harper said in a statement." "This initiative will help ensure that they can grow, prosper and create jobs without being impeded by unnecessary government regulations." </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The commission will hold consultations with Canadians and Canadian businesses in a series of round tables this month, and online, to identify red tape that deter growth, competitiveness and innovation. It will issue recommendations to the government in the fall. </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Trade deficit shrinks in November</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Canada's trade deficit with countries other than the United States declined to $3.1 billion in November from $3.2 billion in October.</span> <span style="font-family: Arial,Helvetica,sans-serif;">Merchandise exports rose while imports dropped in November, and as a result Canada's trade deficit shrunk precipitously.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Statistics Canada reports the trade deficit narrowed to $81 million in November from $1.5 billion in October. </span><span style="font-family: Arial,Helvetica,sans-serif;">Merchandise imports declined 3.2 per cent to $34.4 billion in November, led by a 15.1 per cent drop in volumes of energy products.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Overall, import volumes fell 2.4 per cent and prices, down 0.8 per cent, decreased for a fourth straight month.</span> <span style="font-family: Arial,Helvetica,sans-serif;">Energy products and machinery and equipment were the main factors behind the decrease in the value of imports, while imports of industrial goods and materials rose.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Export volumes fell two per cent but the value of exports increased 0.8 to $34.3 billion, as prices, up 2.8 per cent overall, rose in most sectors. </span><span style="font-family: Arial,Helvetica,sans-serif;">Exports to the United States increased 0.6 per cent while imports fell 5.1, reflecting a drop in imports of automotive products.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Consequently, Canada's trade surplus with the United States rose to $3 billion in November from $1.7 billion in October. </span><span style="font-family: Arial,Helvetica,sans-serif;">Exports to countries other than the United States grew 1.1 per cent, a fifth straight month of increases, while imports remained virtually unchanged.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">As a result, Canada's trade deficit with countries other than the United States declined to $3.1 billion in November from $3.2 billion in October.</span><br />
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<span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;"><b>WEDNESDAY:</b> </span></span><br />
<br />
<span style="font-size: x-large;"><span style="font-family: Georgia,"Times New Roman",serif;">Toronto Stocks Closed Higher Wednesday</span></span><span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;"> </span></span><br />
<span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;"> The market opened higher Wednesday led by energy and material issues. At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was up 54.10 points, or 0.40%, at 13455.15. Advancers outweighed decliners 844 to 595. Trading volume was 269.8 million shares. The S&P/TSX 60 Index was up 3.03 points, or 0.4%, to 769.64 points. </span></span><br />
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<span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;"><b>TUESDAY:</b> </span></span><br />
<span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;"> </span></span><br />
<span style="font-size: x-large;"><span style="font-family: Georgia,"Times New Roman",serif;">Toronto Stocks Higher Tuesday</span></span><br />
<span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;">The stock market was higher Tuesday.Toronto stocks closed higher Tuesday for the first time since the start of 2011, as worries about European debt problems ebbed and the first wave of fourth-quarter earnings were reasonably positive. Higher oil prices also provided support. The Canadian dollar closed at 101.04 cents US on Tuesday, up 0.36 of a cent. <br />
<br />
The S&P/TSX Composite Index rose 155.93 points, or 1.2%, to 13401.05. Advances nearly doubled declines 1108 to 581. Trading volume was 601.2 million shares, up significantly from Monday's anemic total of 472.2 million shares. The S&P/TSX 60 Index closed up 9.00 points, or 1.2%, to 766.61. </span></span><br />
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<span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;">At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was up 151.98 points, or 1.15%, at 13397.1. Advancers about doubled decliners 949 to 483. Trading volume was 257.8 million shares. The S&P/TSX 60 Index was up 9.21 points, or 1.2%, to 766.82 points. </span></span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">The Canadian dollar moved higher against the American currency Tuesday amid rising commodity prices while anxiety about Europe's sovereign debt issue moderated.</span> <br />
<div style="font-family: Arial,Helvetica,sans-serif;">The loonie was up 0.1 of a cent to 100.78 cents US. The loonie benefited from higher commodity prices as the February crude contract on the New York Mercantile Exchange rose 40 cents to US$89.65 a barrel.</div><br />
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<b><span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;">MONDAY:</span></span></b><br />
<span style="font-size: x-large;"><span style="font-family: Georgia,"Times New Roman",serif;">Toronto Stocks Finished Lower Monday</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Toronto stocks closed slightly lower in mixed trading Monday, extending their decline for a fifth consecutive session. The S&P/TSX Composite Index fell 27.18 points, or 0.20%, to 13245.12. But trading was mixed, with 869 advances topping 804 declines. Trading volume was 472.2 million shares, well down from Friday's total of 513.1 million. The S&P/TSX 60 Index closed down 2.26 points, or 0.3%, to 757.61. Canadian dollar closed at 100.68 cents US on Monday, down 0.15 of a cent. </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> . </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Arial,Helvetica,sans-serif;">Toronto stocks opened lower Monday, with materials, energy and financials capping the lower end of the index in morning trades. </span><span style="font-family: Arial,Helvetica,sans-serif;">The Canadian dollar declined Monday as traders bought into the safe-haven status of the American currency</span><span style="font-family: Arial,Helvetica,sans-serif;">. </span><span style="font-family: Arial,Helvetica,sans-serif;">The loonie was 0.21 of a cent lower to 100.62 cents US.Handy and Harman fine silver quotations in Canadian dollars: </span> </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Handy and Harman fine silver quotations in Canadian dollars:</div><div style="font-family: Arial,Helvetica,sans-serif;">Monday $30.232 oz., $971.96 kg.; Friday $30.048 oz., $966.04 kg.</div><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">COMPANY NEWS: </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
RSA Canada has received final regulatory approval to acquire GCAN Insurance for $420 million, a strategic move that could mark the early stages of a consolidation in the Canadian property and casualty industry. The GCAN purchase will make RSA Canada the country's fourth-largest general insurance company after Intact Financial Corp. (TSX:IFC), the Canadian arm of Aviva PLC (LSE:AV) and Co-operators Group of Guelph, Ont. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Canadian Natural Resources Ltd. said Monday its fire-damaged oilsands upgrader may soon be able to run at half capacity while it undergoes repair work. The major Calgary-based oil and gas producer (TSX:CNQ) said it expects to get a better idea of the extent of the damage in the next few days, as provincial authorities allow personnel onto the site. Canadian Natural says the blaze broke out in the top portion of one of four coke drums in its upgrader, in which molasses-thick oilsands bitumen is converted into refinery-ready crude. It appears damage to at least two of the drums is "minimal," the company said. <br />
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Pensioners of insolvent forestry company Fraser Papers Inc. voted Monday to strike down the company's restructuring proposal, saying they could not accept a clause that would absolve the company from any legal wrongdoing. <br />
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The Communications, Energy and Paperworkers Union, which represents about 1,900 active and retired employees, says it and other major creditors, including the pension branch of New Brunswick, voted to reject the plan Monday.<br />
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Fraser Papers filed for creditor protection last year in both Canada and the United States as it struggled with weak markets and heavy debt. <br />
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Nunavut Iron Ore Acquisition Inc. has tweaked its offer for a controlling stake in Baffinland Iron Mines Corp. (TSX:BIM), whose board is supporting a rival bid from global steel producer ArcelorMittal.<br />
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Bruce Walter, chairman of Nunavut Iron, said Monday his revised offer gives Baffinland shareholders cash up front and the chance to benefit as the company develops its massive Mary River iron ore project in the Canadian Arctic.<br />
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"The Arcelor offer is what it is, it has no upside whatsoever and frankly it has baffled us that the Baffinland board has continued to support it," Walter said.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">ECONOMIC NEWS:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Building Permits Fall 11.2% in November </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">Contractors took out $5.5-billion worth of building permits in November. That's down 11.2 per cent from October and their second straight monthly decline. Statistics Canada reports lower construction intentions, particularly for multifamily dwellings in British Columbia and commercial buildings in Ontario, were behind the decline.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">After two straight monthly gains, permits in the non-residential sector fell 16.1 per cent to $2.3-billion in November, mainly due to drops in the commercial and institutional components.</div><div style="font-family: Arial,Helvetica,sans-serif;">The value of residential permits fell 7.2 per cent to $3.2-billion, with most of the decrease coming from British Columbia.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The total value of permits fell in seven provinces, led by British Columbia, Ontario and Newfoundland and Labrador, while Quebec experienced the largest increase by far.</div><div style="font-family: Arial,Helvetica,sans-serif;">The total value of permits fell in 19 of 34 cities, led by Vancouver, Toronto and St. John's, N.L.</div><div style="font-family: Arial,Helvetica,sans-serif;">.</div><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<b>(FRIDAY, JAN 14, 2011 4:00 PM EST)</b><br />
<br />
EUR/USD 1.3358 +0.0009 (0.07%)<br />
USD/JPY 83.0000 +0.1700 (0.21%)<br />
GBP/USD 1.5880 +0.0049 (0.31%)<br />
USD/CAD 0.9892 -0.0006 (-0.06%)<br />
USD/HKD 7.7742 +0.0005 (0.01%)<br />
USD/CNY 6.5876 -0.0168 (-0.25%)<br />
AUD/USD 0.9895 -0.0092 (-0.92%)<br />
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</b></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> <span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<b>(FRIDAY, JAN. 14, 2011: 3:50 PM EST)</b><br />
<br />
Shanghai 2,790.68 -37.03 (-1.31%)<br />
Nikkei 225 10,499.04 -90.72 (-0.86%)<br />
Hang Seng Index 24,283.23 +44.25 (0.18%)<br />
TSEC 8,972.51 -3.07 (-0.03%)<br />
FTSE 100 6,002.07 -21.81 (-0.36%)<br />
DJ EURO STOXX 50 2,920.40 +4.78 (0.16%)<br />
CAC 40 3,983.28 +8.45 (0.21%)<br />
S&P TSX 13,450.10 +48.62 (0.36%)<br />
S&P/ASX 200 4,801.50 +6.30 (0.13%)<br />
BSE Sensex 18,860.44 -322.38 (-1.68%)</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FRIDAY'S U.S. ECONOMIC CALENDAR:</span></span><br />
<br />
<b style="font-family: Arial,Helvetica,sans-serif;">8:30 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec Retail & Food Services Sales Overall Sales (expected +0.9%), Sales, Ex-Auto (expected +0.7%)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">8:30 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec Real Earnings </span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">8:30 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec CPI (expected +0.5%), CPI Core (expected +0.1%), CPI Core, Unrounded (previous +0.1%), CPI Energy Index (previous +0.2%), CPI Food Index (previous +0.2%), CPI Real Average Weekly Earnings (previous -0.1%), CPI, Unrounded (previous +0.12%)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">9:15 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec Industrial Production (expected +0.6%), Capacity Utilization (previous 0.3), Current Capacity Utilization (expected 75.6%)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">9:55 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Jan Thomson Reuters / University of Michigan Survey of Consumers - preliminary Sentiment Index Mid Month (expected 76), Expectations Index Mid Month (expected 66.8), Value (Current Period) Mid Month (previous 85.7)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">10:00 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Nov Manufacturing & Trade: Inventories & Sales Total Inventories (expected +0.8%)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">12:45 p.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Richmond Fed President Jeffrey Lacker speech on economic outlook </span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">1:15 p.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Boston Fed Pres Rosengren speaks in Mashantucket, Conn. </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>MONDAY MARKET NOTE: Martin Luther King, Jr. Day</b><br />
In observance of Martin Luther King, Jr. Day, the equity market and bond market will be closed on Monday, Jan. 17. <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>FINANCIAL CONFERENCES: </b><br />
Among the significant conferences next week are the Biotech Showcase 2011 in San Francisco Monday through Wednesday; Cowen & Co. Consumer Conference in New York Monday and Tuesday; J.P. Morgan Healthcare Conference in San Francisco Monday through Friday; Sidoti & Co. Micro-Cap Conference in New York Monday; Deutsche Bank Securities Inc. Global Auto Industry Conference in Detroit Tuesday and Wednesday; Needham & Co. Growth Conference in New York Tuesday through Thursday; and the ICR Inc. XChange in Dana Point, Calif., Tuesday through Thursday. <br />
...</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Arial,Helvetica,sans-serif;">© Copyright 1999-2022, Online Consultancy Network™. All Rights Reserved.</span> </div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com2tag:blogger.com,1999:blog-11562244.post-56320306738569311342011-01-03T07:50:00.000-08:002017-01-04T13:37:05.122-08:00Stock Market Update - Jan. 3, - Jan. 7, 2011 Gains Seen with Mixed Economic Data<div style="font-family: Arial,Helvetica,sans-serif;">
Stock Market Update<br />
Friday, January 7, 2011</div>
<div style="font-family: Arial,Helvetica,sans-serif;">
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<div style="font-family: Arial,Helvetica,sans-serif;">
<br /></div>
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Latest US Economic News Headlines:</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">
<br />
<b>USA EQUITY INDEXES: (FRIDAY, JAN. 7; 4:00 PM EST)</b></div>
<i> </i><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><i><b><span style="font-family: "times" , "times new roman" , serif;">(Closing Index Numbers) </span></b></i><b><br />
</b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Dow Jones</b> 11,674.76 <span style="color: red;">-22.55</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Nasdaq</b> 2,703.17 <span style="color: red;">-6.72</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>S&P 500</b> 1,271.50 <span style="color: red;">-2.35</span><b><br />
</b></span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">Dow Jones CLOSING Averages : DJIA 11,674.76 DN 22.55</span></b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> 30 INDUS 11,674.76 DN 22.55 OR 0.19%<br />
20 TRANSP 5,178.45 UP 34.48 OR 0.67%<br />
15 UTILS 407.72 UP 1.29 OR 0.32%<br />
65 STOCKS 4,072.97 UP 6.57 OR 0.16%<br />
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<div style="font-family: Arial,Helvetica,sans-serif;">
<b>US COMMODITY PRICES:<i> </i>(FRIDAY, JAN. 7; 4:05 PM EST)</b></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Crude Oil 88.48 + 0.51%<br />
Natural Gas 4.42 +0.12%<br />
Gasoline 2.43 + 0.66%<br />
Heating Oil 2.50 + 0.58%<br />
Gold 1369.42 - 0.12%<br />
Silver 28.76 - 1.03%<br />
Copper 4.27 - 1.25%</span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">US DOLLAR FUTURES INDEX DXY; FRIDAY, JAN. 7, 2011: </span></b><i><b><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span></b></i><br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="color: red;"><span style="color: black;">4:03PM EST: 81.09 <span style="color: #274e13;">Up 0.30 (0.37%)</span><br />
<span style="color: #274e13;"></span></span></span></span></b><br />
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<div style="font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;">U.S. Dollar Edges Higher, Stocks Flat to Lower, Commodities Flat to Lower </span></div>
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<div style="font-family: Arial,Helvetica,sans-serif;">
<b>FRIDAY:</b> U.S. stocks closed lower Friday. The Dow ended 22.55 points lower to close at 11,674.76. The NASDAQ moved 6.72 points lower to end the session at 2703.17. The S&P closed at 1271.50 losing 2.35 points. For the week, the S&P500 gained 1.1%, and the Dow increased 0.8%. As the choppy dollar gained from Thursday's close, US commodities and equities declined. The Dow Jones Industrial Average fell 10 points to 11687.The Nasdaq Composite slipped 0.1% to 2707. The Standard & Poor's 500 index added 0.1% to 1275. The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, edged up 0.1%.The dollar rose to its highest in nearly four months against the euro on Friday. The euro slipped to $1.2982, from $1.3015 late Thursday.<br />
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<div style="color: #e06666; font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;">U.S. BANK FAILURES:</span></div>
<span style="font-size: large;"><b>The FDIC Closed Banks Friday After Hours</b></span><br />
The U.S. Government FDIC regulators closed additional Banks late Friday and seized all assets.The Federal Deposit Insurance Corp announced it closed additional banks. <br />
<br />
Legacy Bank, Scottsdale, AZ., January 7, 2011<br />
First Commercial Bank of Florida, Orlando, FL., Jan. 7, 2011<br />
<br />
<i><span style="font-size: small;">To see the complete list of failed banks and credit unions visit:</span></i><br />
<br />
<span style="font-size: large;">Online Consultancy Network™ Bank Failure List</span><br />
<a href="http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html">http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html</a> <br />
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<b>THURSDAY:</b> U.S. equities ended Thursday in lower to mixed fashion, as the dollar gained taking metals and energy issues lower. The Dow closed down 25.58 points to close at 11,697.58. The Nasdaq cloed higher at 2709.89, gaining 7.69 points. The Standard & Poor's 500® index closed losing only 2.71 points to end the session at 1273.85 . The U.S. Dollar Index, which tracks the currency against a basket of others, rose 0.7%. The euro was recently trading at $1.3012, down from $1.3155 late Wednesday in New York. </div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Choppy trading patterns indicate a mostly unchanged to a lower trading day ahead in tight trading margins. The U.S. dollar strengthened overnight against the euro, but weakened against the yen in early trading. The euro was trading recently at $1.301, down from $1.3150 late Wednesday in New York. The Dow Jones Industrial Average fell 36 points, or 0.3%, to 11688 in recent trading. The Nasdaq Composite edged up 0.1% to 2704. The Standard & Poor's 500-stock index shed 0.3% to 1273. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">There is a good chance the US Dollar will rally for a while said analyst Jim Rogers late Wednesday. I own the US dollar at the moment because there have been many-many skeptics on the US dollar. I expect it to rally for a while. I do not know whether I would own it for a week or a month or a year. I just do not know. I do know that as long as there are many-many skeptics, there is a good chance that it will rally, there are some things going on in the US which may cause the rally to go even further.<br />
<br />
I am not selling my dollars if it goes down, I might even buy more US dollars, but longer term the US dollars may be in terrible-terrible shape. It is a very flawed currency; I do not plan to own the US dollar 5-10 years from now.<br />
<br />
Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC. </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Stocks came under pressure in late morning trading as the dollar climbed. The U.S. Dollar Index, which tracks the currency against a basket of others, rose 0.7%. The euro fell below a technical level after the expiry of a large option payout prompted heavy selling of the currency. The euro was recently trading at $1.3017, down from $1.3150 late Wednesday in New York. </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">THURSDAY, BEFORE THE BELL U.S. equities are moving forward to a higher open but stock index futures trimmed gains slightly on Thursday after new jobless claims rose more than expected last week, even as a drop in the four-week average indicated an improving labor market.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">S&P 500 futures rose 2.5 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 34 points and Nasdaq 100 futures added 4.25 points. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY:</b> U.S. equities closed higher Wednesday.</span> <span style="font-family: "arial" , "helvetica" , sans-serif;">By noon Wednesday, U.S. stocks turned positive as the dollar relaxed it gaining momentum. The Dow Jones Industrial Average added 48 points, or 0.3%, at 11739 after spending much of the morning in negative territory. The Standard & Poor's 500-stock index was up six points at 1276 while the Nasdaq Composite advanced 16 points to 2697. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Wednesday's muted morning action in equities is due to the rise of the dollar moving off support and resistance points during trades. Leading the declines were materials and energy stocks. U.S. stocks traded flat to marginally lower Wednesday as falling commodity prices offset a pair of somewhat encouraging numbers from the labor market and service sector. The dollar jumped on the economic news to trade higher against all of its major rivals. The U.S. Dollar Index, which tracks the currency against a basket of six others, rose 1%. The euro fell 1.3% against the dollar to $1.3132, while the yen fell to 83.15. <br />
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Commodities, continued to be under pressure following a day of steep losses. Copper fell 0.6% while crude oil fell another 0.8% to below $89 a barrel. Gold futures also tumbled, falling 0.8% to 1368 an ounce. <br />
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The Dow Jones Industrial Average was off 14 points, or 0.1%, at 11677 in mid-morning trading. The Standard & Poor's 500-stock index was off less than one point at 1270 while the Nasdaq Composite edged up three four points at 2685. <br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY:</b> Tuesday U.S. equities held flat to lower in most sectors in afternoon trading with some Blue Chip equities moving higher in the Dow set. The Dow Jones Industrial Average rose 20 points, or 0.18%, to close at 11,691.18. The dollar strengthened against both the yen and the euro. The U.S. Dollar Index, which tracks the currency against a basket of others, rose 0.4%. The Nasdaq Composite fell 10.3 points to end at 2681.25. The Standard & Poor's 500 stock index shed 0.13% to 1270.20. ABC News Consumer Confidence LDX reported -45 In Jan 2 Week. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">At Mid-day Tuesday U.S. stocks edged lower Tuesday in late morning trading as the dollar regained its rise from Mondays close. The dollar strengthened against both the euro and the yen. The euro reversed earlier gains to trade recently at $1.3308, down from $1.3351 late Monday in New York. The U.S. dollar index, which tracks the currency against a basket of others, rose 0.4%. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Dow Jones Industrial Average recently shed 7 points, or 0.1%, to 11664.The Nasdaq Composite fell 0.4% to 2680. The Standard & Poor's 500-stock index lost 0.3% to 1268.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">the market's moves will likely be modest until 2 p.m. EST, when the U.S. Federal Reserve releases the minutes from its latest meeting. . </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>MONDAY:</b> The Dow Jones Industrial Average closed higher Monday. The Dow closed 93.24 points higher, or 0.81%, to 11670.75. The Nasdaq Composite added 38.65, or 1.46%, to 2691.52. The Standard & Poor's 500-stock index gained 14.23, or 1.13%, to 1271.87. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">In afternoon trading US stocks rose to fresh two-year highs Monday, starting 2011 with a bang.</span> <span style="font-family: "arial" , "helvetica" , sans-serif;">The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, edged up 0.4%. ICE Dollar Index trading is firmer on the day but perhaps not firm enough to mount a convincing uptrend, writes Stephen Cox. It is technically strong above the 79.027-78.883 intraday support band, but its strength is tentative. </span> <span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Stocks are in the strongest leg of a long-term rally. I expect the U.S. dollar to relax gains further that will allow any upcoming weakness in the U.S stock market to be a buying opportunity for long-term followers of the Elliott wave theory of market cycle investing. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Dow Jones Industrial Average recently jumped 125 points, or 1.1%, to 11702. The Nasdaq Composite added 1.6% to 2695 and reached a three-year intraday high at 2704.86. The Standard & Poor's 500 index gained 1.4% to 1275 after hitting a two-year intraday high at 1276.35. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">In morning trades, U.S. stocks were helped by investor optimism about the outlook for U.S. growth. March futures for the S&P 500 index were recently up 0.8%, underpinned by gains for Asian and European stocks. . </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Dow Jones Industrial Average jumped 110 points, or 1%, to 11687. The measure hit 11695.19, its highest intraday level since August 2008. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"></span><span style="font-family: "arial" , "helvetica" , sans-serif;">The Nasdaq Composite added 1.8% to 2700. The Standard & Poor's 500 index gained 1.2% to 1268, with its financial sector leading a broad climb. The energy sector was also strong as crude-oil futures moved above $92 a barrel. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The gains in U.S. stocks on Monday followed rallies overseas in Europe and Asia. The Stoxx Europe 600 rose 0.9%, boosted by euro-zone manufacturing data that showed the sector's expansion accelerated more than expected in December, and that industrial output in Spain and Ireland has begun to catch up with that in Germany and France. In Asia, South Korea's main index surged to an all-time high, led by technology and auto companies amid optimism on the global demand outlook. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Monday Outlook:</b> I fully expect the U.S. Dollar index to further decline until Feb 14, 2011, and expect to see equities and commodities to continue to rise until that time period. </span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">FACT:</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">The Earth's magnetic pole is shifting toward Russia</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"> at 40 miles per year.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">CRUDE OIL:</span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">FRIDAY: </span><span style="font-family: "arial" , "helvetica" , sans-serif;">$ 88.48 PER BARREL</span></b><br />
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FRIDAY OIL FUTURES: Nymex Crude Settles Down 35c at $88.03/Bbl <br />
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Crude was choppy immediately after Friday's 8:30 a.m. EST jobs report. Initially prices rose, then drifted into negative territory before sustaining a rally above $89 a barrel.<br />
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Light, sweet crude for February delivery rose 80 cents, or 0.9%, at $89.18 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange fell 32 cents, or 0.3%, at $94.20 a barrel, paring earlier losses. </div>
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Oil products were mixed. Front-month February reformulated gasoline blendstock, or RBOB, recently gained 0.28 cent, or 0.1%, at $2.4458 a gallon. February heating oil fell 0.09 cent, or $2.5100 a gallon. <br />
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THURSDAY OIL FUTURES: Nymex Crude Settles Down $1.92 at $88.38/Bbl </div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY:</b> Crude oil futures finished at their lowest price in more than two weeks Thursday, as the dollar gained against the euro. <br />
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Light, sweet crude for February delivery tumbled $1.92, or 2.1%, to $88.38 a barrel on the New York Mercantile Exchange, the lowest settlement price since Dec. 20. Brent crude on the ICE futures exchange recently lost $1.10, or 1.2%, to $94.40 a barrel. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Front-month February reformulated gasoline blend-stock, or RBOB, gave up 0.21 cent, or 0.1%, to settle at $2.4430 a gallon. February heating oil gave up 3.10 cents, or 1.2%, to $2.5112 a gallon. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY</b> OIL FUTURES: Nymex Crude Closes Up 95c at $90.33/Bbl </span><br />
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Oil prices rose Wednesday, reversing course midday, as equities markets turned higher. <br />
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Light, sweet crude for February delivery rose 52 cents, or 0.6%, at $89.91 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange added $1.37, or 1.4%, at $94.90 41 cents, or 0.4%, at $93.12 a barrel. </div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Oil products also moved higher Wednesday. Front-month February reformulated gasoline blendstock, or RBOB, recently traded up 1.60 cents, or 0.7%, at $2.4300 a gallon. February heating oil gained 2.56 cents, or 1%, at $2.5321 a gallon. </span><br />
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<span style="font-size: x-large;">Dept. of Energy Report</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The U.S. Department of Energy said Wednesday U.S. crude stockpiles fell 4.2 million barrels during the week ended Dec. 31. Stockpiles of gasoline and distillates rose more than expected, weighing on crude prices along with the dollar's rise.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Gasoline stockpiles rose 3.3 million barrels last week, the DOE said. Analysts forecast a 600,000-barrel increase. Stocks of distillates, which include heating oil and diesel, rose by 1.2 million barrels, more than the 500,000 barrels seen by analysts. <br />
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Refinery utilization rates rose by 0.2 percentage point to 88%. Analysts expected the figure to remain unchanged. <br />
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Oil products also lost ground Wednesday. Front-month February reformulated gasoline blend-stock, or RBOB, recently fell 1.86 cents, or 0.8%, at $2.3954 a gallon. February heating oil gave up 0.84 cent, or 0.3%, at $2.4982 a gallon. . </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY</b> OIL FUTURES: Nymex Crude Settles $2.17 Lower At $89.38/Bbl </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Light, sweet crude for February delivery settled down $2.17, or 2.4%, at $89.38 a barrel on the New York Mercantile Exchange, the lowest settlement since Dec. 20. Brent crude on the ICE futures recently traded down $1.31, or 1.4%, at $95.53 a barrel. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Oil products also declined Tuesday. Front-month February reformulated gasoline blend-stock, or RBOB, fell 1.33 cents, or 0.6%, to settle at $2.4140 a gallon. February heating oil gave up 4.63 cents, or 1.8%, at $2.5065 a gallon. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Crude stockpiles often decline toward the end of the year, as refiners draw down inventories to reduce their tax bill. The American Petroleum Institute, an industry group, said late Tuesday crude stocks fell 7.5 million barrels last week. Gasoline stocks jumped 5.6 million barrels, while distillate stocks rose 2.2 million barrels, API said. Refinery runs fell 0.2 percentage point to 85.4% of capacity. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>MONDAY</b> OIL FUTURES: Nymex Crude Settles 17c Higher At $91.55/Bbl</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Crude futures headed above $92 a barrel Monday on the first trading day of 2011. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Light, sweet crude for February delivery settled up 17 cents, or 0.2%, at $91.55 a barrel on the New York Mercantile Exchange after climbing to an intraday high of $92.58, the contract's highest level since October 2008. Brent crude on the ICE futures settled up 9 cents, or 0.1%, at $94.84 a barrel.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Front-month February reformulated gasoline blend-stock, or RBOB, fell 0.3 cent, or 0.1%, to settle at $2.4273 a gallon. February heating oil added 1.04 cents, or 0.4%, at $2.5528 a gallon. </span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">NATURAL GAS:</span><br />
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<b>FRIDAY: Natural Gas: $4.42 </b></div>
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FRIDAY US GAS: Futures Settle 0.3% Lower At $4.422/MMBtu<br />
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Natural gas for February delivery recently traded 2.6 cents lower, or 0.6%, at $4.408 per one million British thermal units on the New York Mercantile Exchange. Futures earlier Friday fell as low as $4.366/MMBtu, a one-week low. Natural gas in U.S. storage during the week ended Dec. 31 stood at 3.097 trillion cubic feet, 6.5% above the five-year average level on the week, according to the EIA. <br />
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<b>THURSDAY</b> US GAS: Futures Settle 0.9% Lower At $4.434/MMBtu<br />
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Gas futures increased this morning. The natural gas storage draw increased last week due to cold weather across much of the U.S.Natural gas for February delivery recently traded higher by 10.9 cents, or 2.4%, at $4.582 per million British thermal units on the New York Mercantile Exchange. The benchmark contract had traded nearly flat around $4.48/MMBtu before the report. <br />
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The U.S. Energy Information Administration reported that natural gas inventories fell by 135 billion cubic feet last week. Natural gas in U.S. storage during the week ended Dec. 31 stood at 3.097 trillion cubic feet. The storage draw was larger than the five-year average withdrawal of 79 bcf, but less than last year's 149-bcf decline.<br />
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<b>WEDNESDAY</b> US GAS: Futures Settle 4.2% Lower At $4.473/MMBtu <br />
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Natural gas futures fell Wednesday morning as above-average inventories, a rising dollar and losses across many commodities pressured futures lower. Natural gas for February delivery recently traded 6.9 cents, or 1.5%, lower at $4.600 a million British thermal units on the New York Mercantile Exchange. <br />
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<b>TUESDAY</b> US GAS: Futures Settle 0.4% Higher At $4.669/MMBtu<br />
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Natural gas for February delivery recently traded 2.9 cents, or 0.6% lower, at $4.621 a million British thermal units on the New York Mercantile Exchange. Futures earlier Tuesday climbed as high $4.707, the highest intraday price since Aug. 5, 2010.<br />
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<b>MONDAY</b> US GAS: Futures Settle 5.6% Higher At $4.650/MMBtu</div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">Futures Hit Highest Level Since August</span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: large;"> On Cold Weather Forecasts</span></div>
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Natural gas prices rose Monday as forecasts for colder-than-normal temperatures in January lifted heating demand expectations. Natural gas for February delivery recently traded 23 cents, or 5.2% higher, at $4.635 a million British thermal units on the New York Mercantile Exchange. Futures earlier Monday rose as high as $4.650/MMBtu, the highest intraday price since Aug. 5. <br />
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The natural gas market had been bound in choppy trading in recent weeks, rising when forecasts turned colder, but with gains limited by ample stockpiles. The amount of natural gas in U.S. storage as of Dec. 24 stood at 3.232 trillion cubic feet, more than 8% above the five-year average, the Energy Information Administration said last week. <br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">PRECIOUS METALS: </span><br />
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<b>FRIDAY: </b><b>Gold: $1,370</b> </div>
<b><span style="font-family: "arial" , "helvetica" , sans-serif;">FRIDAY: </span></b><b style="font-family: Arial,Helvetica,sans-serif;">Silver: $28.76</b> <br />
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<span style="font-size: large;">Gold Prices Ended Near Steady Friday</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">The most actively traded contract, for February delivery, was down 0.2%, or $2.80, at $1,368.90 per troy ounce. The thinly traded January delivery contract settled down 0.2%, or $2.90, at $1,368.50 per troy ounce on the Comex division of the New York Mercantile Exchange.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Engelhard Corp's base price for industrial gold bullion was $1369.97 per troy ounce, down $1.51 from previous. It's selling price for gold in fabricated form was $1472.72, down $1.62.<br />
Handy & Harman's base price for gold was $1367.00 per troy ounce, down $1.50. The fabricated form price was $1476.36, down $1.62. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Friday Settlements (range includes floor and electronic trading):</b><br />
London PM Gold Fix: $1,367.00; previous PM $1,368.50<br />
Feb gold $1,368.90, down $2.80; Range $1,352.70-$1,379.00<br />
Mar silver $28.671, down 4.45 cents; Range $28.325-$29.375<br />
Apr platinum $1,738.30, up $3.20; Range $1,719.00-$1,749.90<br />
Mar palladium $755.95, down $6.95; Range $740.00-$767.10<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY:</b> Gold futures declined against a raising dollar. The most actively traded contract, for February delivery, settled down $2, or 0.15%, at $1,371.70 per troy ounce on the Comex division of the New York Mercantile Exchange. The thinly traded January delivery contract settled down $2, or 0.15%, at $1,371.40 per troy ounce. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Engelhard Corp's base price for industrial gold bullion was $1371.48 per troy ounce, up $.50 from previous. It's selling price for gold in fabricated form was $1474.34, up $.54.<br />
Handy & Harman's base price for gold was $1368.50 per troy ounce, up $.50. The fabricated form price was $1477.98, up $.54.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Thursday Settlements (range includes floor and electronic trading):</b><br />
London PM Gold Fix: $1,368.50; previous PM $1,368.00<br />
Feb gold $1,371.70, down $2.00; Range $1,364.30-$1,30.00<br />
Mar silver $29.126, down 7.2 cents; Range $28.815-$29.600<br />
Apr platinum $1,735.10, up $1.00; Range $1,727.00-$1,745.30<br />
Mar palladium $762.90, down $12.40; Range $758.50-$778.50 </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY:</b> Gold futures fell Wednesday as robust jobs data caused the dollar to gain steam.The most-actively traded gold contract, for February delivery, fell $5.10, or 0.4%, to settle at $1,373.70 a troy ounce on the Comex division of the New York Mercantile Exchange. The thinly-traded nearby January contract also lost $5.10, to $1,373.40. </span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">Wednesday Settlements (range includes floor and electronic trading):</b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">London PM Gold Fix: $1,368.00; previous PM $1,388.50</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Feb gold $1,373.70, down $5.10; Range $1,364.00-$1,385.20</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Mar silver $29.198, down 31.0 cents; Range $28.580-$29.905</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Apr platinum $1,734.10, down $13.30; Range $1,710.60-$1,761.50</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Mar palladium $775.30, up $6.25; Range $750.20-$779.05</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY:</b> Engelhard Corp's base price for industrial gold bullion was $1391.51 per troy ounce, down $30.05 from previous. It's selling price for gold in fabricated form was $1495.87, down $32.31. Handy & Harman's base price for gold was $1388.50 per troy ounce, down $31.80. The fabricated form price was $1499.58, down $34.34.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>MONDAY</b>: Gold futures were near steady on the first trading day of 2011 as positive sentiment on the economic recovery sent investors into equities instead. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The most-actively traded gold contract, for February delivery, rose $1.50, or 0.1%, to settle at a record $1,422.90 a troy ounce on the Comex division of the New York Mercantile Exchange. The sparsely traded front-month contract also gained $1.50, to $1,422.60. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Monday, silver gained more strongly than gold and hit a more-than-30-year high amid the positive economic sentiment. Silver is more widely used in industrial applications like electronics than is gold. Comex March silver gained 0.6% to settle at $31.125 an ounce after hitting $31.275 intraday, its strongest price since March 1980. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"> April platinum gained 0.5% while March palladium on the exchange dipped 0.4%.</span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">Monday Settlements (range includes floor and electronic trading):</span></b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Feb gold $1,422.90, up $1.50; Range $1,414.50-$1,424.40</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Mar silver $31.125, up 18.8 cents; Range $30.620-$31.275</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Apr platinum $1,786.40, up $8.20; Range $1,769.00-$1,792.80</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Mar palladium $800.40, down $2.90; Range $795.80-$808.90</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">BASE METALS:</span> <br />
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<b>FRIDAY: Copper $ 4.27 Per Pound </b><br />
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<span style="font-size: x-large;">Copper Futures Lower with Rising Dollar</span></div>
The most-actively traded contract, for March delivery, fell 4.7 cents, or 1.1%, to settle at $4.2825 a pound on the Comex division of the New York Mercantile Exchange. It slipped 3.7% on the week.<br />
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A stronger U.S. dollar weighed on demand for dollar-denominated copper by making it more expensive for foreign buyers. Shortly after copper closed, the ICE Futures U.S. Dollar Index was up 0.3%.<br />
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Inventories of copper stored in London Metal Exchange warehouses rose 125 metric tons Friday, leaving them at 379,525. Once-a-week data released on Fridays by the Shanghai Futures Exchange showed a weekly rise of 275 metric tons to 132,166. The most recent Comex inventory data, released late Thursday afternoon, were unchanged at 64,888 short tons. <br />
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<b>THURSDAY</b>: The most actively traded contract, for March delivery, settled down 1.8%, or 7.85 cents, at $4.3295 per pound on the Comex division of the New York Mercantile Exchange. The metal is down 3.1% from its record settlement of $4.4575 a pound, set Jan. 3. The thinly traded January contract settled down 1.8%, or 8.05 cents, at $4.3210 per pound. </div>
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<b>MONDAY</b> U.S. BASE METALS: Comex Copper Settles At Record $4.4575 </div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Low trading volumes kept Comex copper futures near record levels on the first market day of the new year as traders waited for U.S. economic data. <br />
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The most actively traded contact, for March delivery, was down 0.1%, or 0.25 cents, at $4.4445 a pound on the Comex division of the New York Mercantile Exchange. The contract set a fresh intraday record at $4.4980 Monday. It had ended 2010 on a fresh all-time settlement high of $4.4470 a pound. Copper soared further into uncharted territory on the final trading day of 2010.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">U.S. TREASURYS/BONDS: </span><br />
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<b>FRIDAY:</b> Treasurys rallied broadly Friday on a disappointing U.S. jobs report. In late-afternoon trading, the benchmark 10-year note was 20/32 higher to yield 3.324%. Bond prices move inversely to their yields. The yield traded at 3.294% by the end of 2010. The two-year note was 5/32 higher to yield 0.597% and the five-year note was 17/32 higher to yield 1.959%.The five-year note was the best performer as many investors bought this maturity and sold 30-year securities The 30-year bond underperformed as long-dated securities will bear the brunt of the $66 billion in new debt supply in the coming week. <br />
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<b>THURSDAY:</b><br />
Demand for U.S. Treasurys rose, pushing yield on the 10-year note down to 3.40%.<br />
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<b>WEDNESDAY: </b><br />
Treasurys declined in early trading on the reported data, as the brighter picture of the U.S. economy dented the allure of safe-haven assets. The yield on the benchmark 10-year note rose to 3.44%. <br />
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<b>TUESDAY:</b><span style="font-family: "arial" , "helvetica" , sans-serif;"> Demand for U.S. Treasurys was mixed after the minutes, with increased interest in the two-year note. But demand fell for the 10-year note, pushing its yield up to 3.34%. </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">During mid-day trading, demand for U.S. Treasurys increased Tuesday, pushing yield on the 10-year note down to 3.32%. Yields have risen despite Fed buying and market participants will be eager to hear the Fed's take on higher yields. The five-year Treasury note was up by 6/32 to 1.973%, and the 10-year was up 4/32 to 3.319%. The two-year Treasury note was flat to yield 0.593%, while the 30 was lagging behind, down 1/32 to 4.401%. The Fed bought $1.618 billion in Treasury inflation protected securities; $5.168 billion in offers were submitted.. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>MONDAY:</b> Demand </span><span style="font-family: "arial" , "helvetica" , sans-serif;">for Treasurys fell, lifting the yield on the the benchmark 10-year note was 14/32 lower, pushing up the yield by about six basis points to 3.344%. The 30-year bond was 14/32 lower to yield 4.405%. <br />
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The 10-year note's yield, a benchmark for consumer and corporate borrowings, has risen more than one percentage point from the trough of 2.332% hit in early October, the lowest level since January 2009. The yield rose to 3.568% on December 16, the highest level since May. <br />
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Bonds recouped some losses, moving off the worst levels of the session after the release of a key U.S. manufacturing-sector indicator while the Fed bought $7.79 billion in Treasurys due between February 2018 and November 2020. <br />
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The Fed plans to buy Treasurys on each of the trading days this week. They are part of the central bank's $600 billion Treasury-bond buying program launched in early November. By buying Treasurys regularly until June, the Fed hopes to push long-dated borrowing costs lower for consumers and businesses to boost an economic recovery.</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>FRIDAY, JAN. 7, 2011; 4:00 PM EST: </b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">3 Month 0.12% -0.01 (-7.69%)<br />
6 Month 0.16% -0.01 (-5.88%)<br />
2 Year 0.59% -0.05 (-7.81%)<br />
5 Year 1.96% -0.07 (-3.45%)<br />
10 Year 3.32% -0.05 (-1.48%)<br />
30 Year 4.49% -0.03 (-0.66%)</span><br />
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<span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">U.S. ECONOMIC NEWS:</span></span><br />
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<b>FRIDAY:</b></div>
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<span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">THE MONEY SUPPLY REPORT</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">M2 (narrow) "money" supply rose $14.0bn to a record $8.848 TN. Over the past year, "narrow money" grew 3.7%. For the week, Currency declined $2.1bn. Demand and Checkable Deposits surged $38.8bn, while Savings Deposits dropped $25.7bn. Small Denominated Deposits fell $3.7bn. Retail Money Funds added $6.6bn.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The dollar index jumped 2.6% to 81.08. On the upside for the week, the Mexican peso increased 0.9%, the Canadian dollar 0.5%, and the South Korean won 0.3%. On the downside, the euro declined 3.6%, the Danish krone 3.5%, the Swiss franc 3.3%, the Swedish krona 3.3%, the Norwegian krone 2.8%, the Australian dollar 2.7%, the New Zealand dollar 2.6%, the South African rand 2.6%, the Japanese yen 2.4%, the Brazilian real 1.4%, the Singapore dollar 0.8%, the British pound 0.4%, and the Taiwanese dollar 0.2%</span>.<span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
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<span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">GOLDMAN SAYS S&P 500 COULD HIT 1500</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Goldman Sachs sets a new, highly bullish target for the Standard & Poor's 500 index this year in a reflection of the investment bank's upbeat outlook for U.S. economic growth, on sustained earnings growth by U.S. companies.</span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">FED SAYS ...</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">U.S. Federal Reserve Governor Elizabeth Duke seeks to allay worries that elevated reserve balances could spur inflation in an economy still struggling to recover.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Joseph Tracy, a senior New York Fed official, says the economy is likely to grow and add jobs this year even as a troubled housing market acts as a drag on growth.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Federal Reserve remains "unwaveringly committed" to maintaining price stability amid an uneven economic recovery that is likely strengthen in the new year, says Chairman Ben Bernanke in his first appearance before Congress this year.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Bernanke : Tax Code Overhaul Should Be Part Of Deficit Debate: U.S. policymakers should consider a long-term overhaul of the U.S. tax code for both individuals and businesses as part of any plan to address the nation's fiscal position, Federal Reserve Chairman Ben Bernanke said Friday.Making his first appearance on Capitol Hill in the new year, Bernanke squarely put the onus on lawmakers and the Obama administration to consider and enact a plan to deal with long-term deficit projections. Putting a "credible plan" in place could bolster the current economic recovery, particularly if it includes providing greater clarity on the future of the country's tax policy, he said. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Alan Greenspan, former chairman of the U.S. Federal Reserve, says the U.S. could face a bond market crisis if politicians don't soon take steps to cut the nation's debt.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">BANKS' STAGNANT-LOAN</span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">LOSSES SEEN IMPROVING</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The year ended with hopes that the drought in bank lending was subsiding, but residual issues from the financial meltdown continue to overshadow the fourth-quarter results of the nation's big banks.</span><br />
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<span style="font-size: x-large;">Rare Earths Shortage Becoming</span></div>
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<span style="font-size: x-large;">Problem For Refiners</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">The skyrocketing cost of rare-earth metals coming out of China is pushing up the cost of gasoline production in the U.S., the latest sign of the wide-reaching impact of Beijing's decision to restrict exports of the minerals. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Prices for some of the chemicals refiners use to process gasoline have risen exponentially after China, which controls about 95% of the world's rare-earth supply, said it would slash exports of the metals by 35% in 2011. The increase could raise gasoline production costs by about a penny a gallon and potentially lead some refiners to cut back on fuel production, and is expected to become a topic in many refiners' earnings conference calls in the first quarter of 2011. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Rare earth elements that go into high-tech batteries, television sets and military technology, are also used in the catalyst component of refiners' gasoline-making fluid catalytic cracking units, or FCCUs. Although rare earths account for only up to 4% of catalysts used in these units, their recent price increase has added as much as an extra 25% to catalyst costs, according to the National Petrochemical and Refiners Association, a group representing the sector. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The increase comes just as U.S. refiners were getting back on their feet financially after years of low demand and tight profit margins. Refiners such as Valero Energy Corp. (VLO) and Sunoco Inc. (SUN) sold some of their plants in 2010 to rid themselves of poor-performing assets. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> "Any kind of increase, especially in today's markets and conditions, is significant," said NPRA President Charlie Drevna. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">There are about 100 FCCUs amid the country's 150 refineries, ranging in capacity from more than 100,000 barrels of oil a day to less than 10,000. The typical 50,000 barrel-a-day FCCU uses an average of seven tons a day of catalyst to help remove impurities from what will become gasoline and diesel, with the increase in rare-earth prices costing its owner an extra $147,000 a month. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">That would add about a penny to the production cost of each gallon of gasoline made--not enough to make the consumer notice, but enough to make some refiners think about scaling back production, analysts say. Adding to the cost is the U.S. drive for cleaner-burning gasoline and diesel, which requires refiners to use more catalysts. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Refiners acknowledged that catalyst costs were growing but declined to elaborate. Valero, which is the largest U.S. independent refiner and operates 12 FCCUs ranging in capacity from 24,000 to 100,000 barrels of oil a day, will probably address the issue during its fourth-quarter earnings conference call, company spokesman Bill Day said. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">"Catalyst costs are something that Valero is monitoring closely," Day said. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Tesoro Corp. (TSO) said it has included the rising cost of rare earths into its 2011 budget but declined to say how much extra money it was paying for catalysts. The company, which runs five FCCUs, was seeking ways to mitigate the damage done to its bottom line, Tesoro spokesman Mike Marcy said. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">"There may be ways to adjust catalyst blends to reduce the impact of cost increases," Marcy said. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">How long rare-earth prices will continue to climb is in question as companies outside China hustle to make more of the metals available. U.S.-based Molycorp Inc. (MCP) said it plans to spend $531 million to mine and process rare earths from a Mojave desert mine that used to produce the material until it was shut in 2002. Lynas Corp. Ltd. (LYC), a rare-earth supplier based in Australia, said it plans to start mining rare earths from Mount Weld in western Australia for expected production in the third quarter of 2011. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Until those projects come online, rare-earth prices will likely continue to increase, however. Chemical companies, which supply catalysts to refiners, have started indexing the cost of their product to rare-earth price movements, said Ed Morrison, president of consulting firm Global Catalyst & Process Technology Management PLLC. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> "They are passing the price on to the oil refiner," Morrison said.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Top Massachusetts Court Rules</span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"> Against Foreclosing Banks</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Massachusetts' highest court voided foreclosures on two homes. This now sets the legal precedent throughout the US. J.P. Morgan Chase slipped 2.9% and Bank of America fell 2.3%, after the Massachusetts State Supreme Judicial Court upheld a decision that two foreclosures from U.S. Bancorp and Wells Fargo were invalid because the banks failed to show they held the mortgages at the time of the foreclosure..</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">U.S. Employment RA RA</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">U.S. stocks fell Friday as investors were disappointed by a smaller-than-expected increase in non-farm payrolls for December. <i>"It just reflects people getting totally disgusted and discouraged by the job market and pulling out of the search process," </i>said Peter Tuz, president of Chase Investment Counsel. Tuz added that he would rather have seen a rise in the unemployment rate with an increase of 150,000 in non-farm payrolls, as that would indicate more people were entering the workforce. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Mixed and falsified data to promote a blind population of followers, is emblematic of the Governments slow and uneven path through economic survival. So, in case you are wondering why I have not bothered to post the ridiculous banter of how great it is, that long term unemployed who have been dropped off the numbers to make things look better than they really are in the U.S., or why low paid temporary holiday sales and warehouse jobs and government subsidized jobs and "seasonally adjusted" numbers, and birth and death numbers influences are now considered good "employed numbers", well, perhaps you should do some homework, or maybe some math.</span><br />
<br />
<i> <span style="font-family: "arial" , "helvetica" , sans-serif;">"People are writing off the unemployment rate because a lot of that is seasonal retail hiring, which is only temporary," said Tom Pawlicki, analyst with MF Global. "We may see more disappointing data as we go further, and that's offering an upside push to gold," Pawlicki said. </span></i><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The U.S. economy adds fewer jobs than expected and more Americans drop out of the workforce in December.</span><br />
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<span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;">Debt Ceiling And The Stock Market </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The nightmare prospect of a government shutdown later this year due to the increasingly likely possibility that political gridlock in Washington will result in a failure to raise the federal government's debt ceiling, writes Mark Hulbert.</span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">THURSDAY: </span></b><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">DECEMBER RETAIL SALES DECLINED</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Department store operators were largely lower after same-store figures missed analysts' expectations. Of the retailers reporting same-store sales so far Thursday, about half have missed analysts' expectations for the holiday month's same-store sales, including Costco Wholesale. Macy's fell 3.1%, while Kohl's shed 1.2% after missing Street expectations, though the retailer raised the low end of its earnings forecast for the fourth quarter. Target fell 5.9% after same-store sales increased 0.9% last month, falling far short of analysts' estimates. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A handful of teen retailers also came in below Street forecasts, including Zumiez, which plunged 12% and Wet Seal, down 13%. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;">AT LEAST 409,000 THOUSAND AMERICAN'S</span></div>
<div style="font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;"> LOST THEIR JOBS LAST WEEK</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">New claims for unemployment benefits rose more than expected last week, but a decline in the four-week average to a fresh low in more than two years indicated the labor market improvement remained intact.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Initial claims for state unemployment benefits increased 18,000 to a seasonally adjusted 409,000, the Labor Department said on Thursday, above economists' expectations for 400,000. The prior week's figure was revised up to 391,000 from the previously reported 388,000.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The data falls outside the survey period for the government's closely watched employment report for December. The government is expected to report on Friday that non-farm payrolls increased 175,000 last month after November's surprisingly small 39,000 gain.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The unemployment rate is expected to have edged down to 9.7 percent from 9.8 percent in November. A Labor Department official said there was nothing unusual in the state-level data and noted that the long-term trend in jobless claims remained to the downside.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The four-week moving average of unemployment claims -- a better measure of underlying trends, fell 3,500 to 410,750, the lowest level since late July 2008.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The spike in weekly claims does little to change perceptions the economy is now on a sustainable growth path, as flagged by sturdy data on consumer spending, trade and manufacturing.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The number of people still receiving benefits under regular state programs after an initial week of aid fell 47,000 to 4.10 million in the week ended December 25. That was in line with market expectations, and the prior week's number for the so-called continuing claims was revised up to 4.15 million from 4.13 million.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The number of people on emergency unemployment benefits fell 133,625 to 3.58 million in the week ended December 18, the latest week for which data is available. A total of 8.77 million people were claiming unemployment benefits during that period under all programs.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">GEITHNER URGES CONGRESS</span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"> TO RAISE NATIONAL DEBT LIMIT</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Treasury Secretary Timothy Geithner a former Goldman Sacks executive, is pushing U.S. lawmakers to lift the U.S. National debt ceiling for the sixth time in less than four years as the U.S. approaches its debt limit of nearly $14.3 trillion. According to him, the U.S. Government will have to default on its interest payments after March of 2011 if the debt is not raised.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">MORTGAGE RATE; </span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">30-YEAR FIXED AT 4.77%</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Mortgage rates ease in the latest week, falling slightly after several weeks that saw mostly sharp increases. The 30-year fixed-rate mortgage averages 4.77% for the week ended Thursday, down from the prior week's 4.86% average.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;">VOLCKER QUITTING AS </span></div>
<div style="font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;">ECONOMIC COUNCIL HEAD</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Former Fed Chairman Paul Volcker is expected to step down as head of a panel that advises President Barack Obama on economic issues, according to two people familiar with the matter.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">COMPANIES SHOULD BORROW</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">WHILE THEY STILL CAN</span></span><br />
Borrowers are rightly taking advantage of current good economic news and increased risk appetite to issue while the going is good. But these borrower-friendly times may not last, Richard Barley writes. By the end of Wednesday, just three business days into the year, investment-grade bond issuance in the U.S. stood at just over $27 billion, according to Barclays Capital. The recent run of covered bond issuance continues to surge, with six new deals announced in what has been the busiest week for the asset class since 2006, Art Patnaude writes.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Banks have understandably been among the biggest issuers. Regulators and central bankers are concerned about the wall of refinancing that comes due, particularly as government-guaranteed bonds sold at the height of the crisis mature. Banks are particularly exposed to the risk of new turmoil in the government bond markets: senior bank debt issuance shut down in May and was severely hampered in November in Europe </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">.</span><br />
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<b>WEDNESDAY:</b></div>
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<div style="font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;">US Service Sectors Show Minor Gains</span></div>
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New orders moved to 63.0, from 57.7. Inflation quickened its pace, with the prices index at 70.0, versus November's 63.2. In the ISM report, hiring gains lost momentum, with the employment index at 50.5, from 52.7. <br />
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<div style="font-family: Arial,Helvetica,sans-serif;">
The ISM said its overall index of non-manufacturing activity, which comprises most of American economic output, moved to 57.1, from 55.0 in November and 54.3 in October. </div>
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The U.S. service sector picked up steam in the final month of 2010, ending the year on a strong note, although hiring gains slowed down and price pressures grew, according to a report Wednesday from the Institute for Supply Management. <br />
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The report came on the heels earlier this week of the private research group's manufacturing survey, which also suggested economic strength and good momentum into the start of the New Year.</div>
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<div style="font-family: Arial,Helvetica,sans-serif;">
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">US Holiday Online Retail Spending Rose</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">Online retail spending during the most recent holiday season jumped 12% from a year earlier, hitting an all-time record, according to online researcher comScore Inc. The company said spending in November and December of last year totaled $32.59 billion, up from 2009's $29.08 billion.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">PRIVATE-SECTOR JOBS SHOW INCREASE</span><br />
The core private-sector job creation has been 51,000 a month, that comes to 16 jobs per</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> county as compared to more than 5,000 job seekers per county. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The report shows that private-sector jobs in the U.S. "surged by 297,000 in December", according to payroll giant ADP, suggesting Friday's payroll data could beat current expectations. Most jobs are in the temporary sector and don't really show what the outlook is for longer term employment in the U.S. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Most of those "jobs" have been in government subsidized health care and social services,</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> and temporary business services. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Economists expect the Labor Department to report the economy added 140,000 jobs in</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> December, barely enough to hold unemployment steady at about 9.8% and far less than </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">should be expected 18 months into an economic recovery.. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">UN FOOD PRICE INDEX HITS RECORD HIGH</span><br />
Global food prices rise to a record high in December, according to the monthly Food Price Index published by the United Nations Food and Agriculture Organization, above a previous high in 2008.<br />
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<br />
<b style="font-family: Arial,Helvetica,sans-serif;">TUESDAY:</b><br />
<br />
<span style="font-size: x-large;">FOMC Minutes Report</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><i><b>Fed Sees Rapid Increase In Energy Prices Raising Inflation </b></i></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Federal Reserve believes a stronger U.S. economy is among the reasons behind the rise in government bond yields, which may undermine its efforts to keep the recovery going via low interest rates. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">In minutes of the central bank's Dec. 14 meeting, released with the customary lag on Tuesday, Fed officials offered several explanations on why U.S. Treasury yields have been increasing despite their $600 billion bond purchase program. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> Investors' downward revision of the ultimate size of the program, the improved economic outlook, and the impact of the recent tax-cut deal on the budget deficit were all factors behind the rise in yields, Fed officials said. Some noted the backup in rates may have even been amplified by year-end positioning. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">But despite the improvement in the economy, Fed officials "generally felt that the change in the outlook was not sufficient to warrant any adjustments to the asset-purchase program, and some noted that more time was needed to accumulate information on the economy," the minutes showed. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The bond-purchase program was supposed to help the economy by, among other things, keeping borrowing rates low. But interest rates charged on consumers and companies that borrow to spend and invest have actually been rising since the Fed Nov. 3 annouced its plan to buy $600 billion government bonds through June 2011. The yield on the 10-year Treasury note, used as a benchmark for several interest rates, currently stands around 3.35%, up from 2.48% Nov. 4. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The minutes show that Fed officials were more optimistic on the growth outlook, with risks of deflation having receded. But they noted there are still lots of downside risks, most notably in housing and from Europe's continued debt crisis. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The U.S. economy's recovery from the severe 2008-2009 recession was already gathering pace when the Fed last met three weeks ago. Since then, signs have grown that the feeble jobs market is improving and President Barack Obama signed a bipartisan tax package into law that is expected to boost the economy further in 2011 -- at the cost of increasing an already large budget deficit. The improved outlook, together with concerns the economy may eventually overheat and bring high inflation, led investors to sell government bonds, bringing lower prices and higher yields. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Critics of the central bank point to the interest rates increase to say the Fed's strategy is not working. Fed officials counter in the minutes that bond yields would be even higher without them. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Supporters of the Fed's policy also note the bond purchases help the economy in other ways: by driving investors into riskier securities, thus contributing to the rise in stocks; and by keeping the U.S. dollar value against other currencies low, thereby boosting exports. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;">US AUTO SALES RISE</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">U.S. auto sales likely hit their strongest pace of the year as General Motors and Ford report solid increases for the December, while Chrysler says sales of cars and light trucks jumped 16%. </span><br />
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<span style="font-size: x-large;">U.S. FACTORY ORDERS REPORT SHOW INCREASE</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> <i><b>Factory orders increased 0.3% in November. </b></i></span><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />
</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">U.S. factory goods orders unexpectedly rose in November, giving another indication of solid momentum in manufacturing amid a growing economy. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Orders for manufactured goods rose 0.7% to $423.85 billion from the prior month, the Commerce Department said Tuesday. Economists surveyed by Dow Jones Newswires had forecast a 0.1% decline in November factory goods. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Non-defense capital goods orders excluding aircraft increased 2.6% in November, after falling 3.2% the month before. Those orders are considered an indicator of capital spending by businesses. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The economy grew 2.6% in third quarter, pushed along by modest consumer spending. Some manufacturers are projecting higher profits as orders increase. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Last month Nike Inc.'s (NKE) said its fiscal second-quarter earnings rose a better-than-expected 22%, as the athletic-shoe maker continues to see strong interest in future orders. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The U.S. manufacturing sector is growing. This week, the Institute for Supply Management reported its December index of manufacturing activity moved to 57.0 from 56.6 in November and 56.9 in October. Any reading in the ISM survey above 50 indicates growth. The relatively strong momentum is allowing the industry to recover from the deep recession. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Tuesday's data showed demand for factory goods that are made to last at least three years fell 0.3% in November, revised from a previously reported 1.3% drop. These so-called durable goods plunged 3.1% in October. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Non-durable goods factory orders climbed 1.7% in November, after increasing 1.5% in October. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A sharp drop in civilian airplane demand restrained the increase in overall factory orders in November. Orders for goods made in the transportation sector fell 11.1%, after dropping 6.2% in October. Excluding the transportation sector, factory orders shot 2.4% higher in November, following a 0.1% rise the previous month. Orders rose for metals, computers, and electrical equipment. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Capital goods orders fell 4.4% in November. Defense capital-goods orders rose 17.5%. Demand for all non-defense capital goods declined 6.8%. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Excluding defense orders, overall factory orders increased 0.3% in November. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The report showed November factory shipments climbed 0.8%. Unfilled orders, a sign of future demand, rose 0.6%. Inventories went up 0.8%. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Overall factory orders in October fell 0.7%, revised up from a previously reported decrease of 0.9%. September orders jumped 3.0%.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">U.S. CHAIN STORE SALES RISE 0.4%</span></span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Goldman Sachs same store sales report showed a minor increase the last week in December. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Despite a major snow storm along the East Coast at the beginning of the week, a warming trend by week's end helps lift store traffic and recover some lost post-Christmas sales, according to a report from ICSC/Goldman Sachs.</span><br />
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<span style="font-size: x-large;">U.S. PERSONAL BANKRUPTCIES JUMP 9%</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The number of Americans filing for personal bankruptcy topped 1.5 million last year, as households buckled under debt loads and turned to the courts to lighten the burden. Personal bankruptcies rose to 1,530,078, up 9% from 2009.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">U.S. OFFERS FLOOD AID TO AUSTRALIA</span><br />
The U.S. government offered aid Tuesday to an estimated 200,000 people hit by record floods in Australia, as rising waters threatened to cut off the tropical city of Rockhampton in Queensland state. </span><br />
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<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">CHINESE FOREIGN MINISTER</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"> HOLDING TALKS IN U.S.</span><br />
</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">U.S. Treasury Secretary Timothy Geithner will host bilateral talks with China's top diplomat Tuesday in Washington amid preparations for the upcoming state visit of Chinese President Hu Jintao. <br />
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U.S. President Barack Obama is to host Hu in the White House on Jan. 19 as the two major powers address diplomatic ties strained by trade and currency, security and human rights issues. <br />
<br />
Geithner and Chinese Foreign Minister Yang Jiechi will hold closed-door discussions on Tuesday afternoon, a U.S. Treasury Department statement said. <br />
<br />
In recent weeks there have been signs that Chinese authorities have been allowing the yuan to slowly appreciate ahead of Hu's visit, likely to feature prominent coverage of trade and currency tensions. <br />
<br />
The People's Bank of China set the yuan central parity rate -- the middle of the currency's allowed trading band -- at 6.6227 to the dollar Friday, meaning it has appreciated about 3% against the greenback since June 19. <br />
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Obama and Hu last met in Seoul on the fringes of the Group of 20 summit in November, and are due to hold talks at the White House and a state dinner during the Chinese president's visit to Washington. <br />
<br />
But serious divisions between the two largest economies will simmer beneath the diplomatic pageantry, including Washington's desire for a bigger Chinese effort to influence North Korea, amid high tensions on the peninsula following Pyongyang's assault on a South Korean island in November. <br />
<br />
Hu's visit will be the culmination of a flurry of preparatory diplomacy by top officials from both sides. <br />
<br />
U.S. Secretary of Defense Robert Gates is due to visit China between Jan. 9 to 12, a year after Beijing snapped off military relations with Washington in protest against a multibillion-dollar U.S. arms package for Taiwan..</span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">MONDAY: </span></b><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Dow Jones Economic Sentiment Indicator</span></div>
<div style="font-family: Arial,Helvetica,sans-serif;">
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"> Dec 46.1 Vs Nov 43.9</span></div>
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The Dow Jones Economic Sentiment Indicator posted a sharp rise for December, a sign that shows the upbeat economic data that closed out 2010 may be the start of an upswing. The indicator rose 2.2 points to 46.1, following two months stuck at 43.9, bringing it closer to the levels of late 2007.</div>
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The Dow Jones ESI aims to predict the health of the economy by analyzing the contents of 15 major daily American newspapers, using a proprietary algorithm to look for positive and negative sentiment about the economy in every article. Although less volatile than other confidence indicators, historical back-testing has shown that for a rise to be considered significant it needs to be sustained over more than one month. <br />
<br />
The indicator's rise in December was only modestly boosted by coverage of the relatively strong holiday retail sales. Most of its strength was drawn from a wide range of upbeat economic newspaper articles reporting improved economic activity across the nation, from car dealerships in Dallas to grain elevators in the Twin Ports.The late burst of upbeat economic data at the end of 2010--most notably the sharp fall in jobless claims announced Dec. 30--had a multiplied effect on sentiment because they added an upbeat final tone to many year-end economic round-ups..</div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Factory Sector Sees 'Significant Recovery' In 2010 </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> <i><b>ISM Manufacturing Pops to 57.0 from 56.6 Matching Expectations</b></i></span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Institute for Supply Management (ISM) reported significant gains are to be seen in 2011, as the economy is expected to recover. A significant recovery was seen in 2010. Today's ISM Manufacturing figure came in line with expectations at 57.0 with prices paid up 3 points (72.5 from 69.5) and new orders up 4.3 points (60.9 from 56.6). </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">US November Construction Spending Up </span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">U.S. construction spending rose a third consecutive time during November, a sign the industry is recovering despite unemployment and difficulty getting financing. <br />
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Spending on construction projects increased by 0.4% to a seasonally adjusted annual rate of $810.23 billion compared to the prior month, the Commerce Department said Monday. <br />
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Spending rose 0.7% in October and 1.2% in September. <br />
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November's bigger-than-expected gain was supported by increases in all the major categories of the construction report. <br />
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Spending on U.S. residential projects, for instance, climbed 0.7% to $246.78 billion after rising 3.7% in October. The housing sector is struggling to recover but high unemployment, foreclosures, tightened mortgage loan standards, and uncertainty about home prices are thwarting a comeback. The latest government data show new-home sales down more than 20% from a year ago. <br />
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Spending on non-residential projects in November rose by 0.3%. But over the past year, non-residential project outlays were down 6.8%, with big drops in hotel and other commercial construction spending as the economy recovers slowly from recession. Builders are having trouble getting loans to start new projects. Labor Department data on payroll employment show the construction industry shed 5,000 jobs in November. <br />
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The report Monday said U.S. private-sector construction spending rose by 0.3% in November to $491.76 billion. Public-sector spending increased by 0.7% to $318.47 billion. Federal spending jumped 8.2%; outlays of state and local governments, however, dipped 0.1%. <br />
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The recession's effects continue being felt by municipal governments. According to the National League of Cities' latest annual report on cities' fiscal conditions, financial officers report the largest spending cuts and loss of revenue in the 25-year history of the survey. <br />
<br />
New Jersey Gov. Chris Christie in October halted a $9 billion project to build a rail tunnel under the Hudson River because of high costs. Part of the funding came from the federal government. <br />
<br />
Just after Election Day, the Obama administration warned that Wisconsin and Ohio would lose hundreds of millions of dollars in federal stimulus money if their incoming Republican governors keep campaign promises to halt intercity passenger-rail projects. <br />
<i><br />
The Commerce Department report on construction spending can be found at:</i> <a href="http://www.census.gov/const/C30/release.pdf">http://www.census.gov/const/C30/release.pdf</a>. </span><br />
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<span style="font-size: x-large;">INVESTMENT BANKERS SEE</span><br />
<span style="font-size: x-large;"> MORE IPO GROWTH</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">U.S. investment bank executives expect that there will be continued growth in initial public offerings on American exchanges in 2011, according to a national survey.</span><br />
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<span style="font-size: x-large;">GLOBAL CHIP SALES EASE DURING NOVEMBER</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Global chip sales ease 0.9% in November from a month earlier, the second straight month of declines, with sequential drops in all its geographic regions except Europe, according to the Semiconductor Industry Association.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">US BANKRUPTCY BOOM MAY FADE IN 2011</span></span><br />
After two years punctuated by a historic economic downturn, a rash of mega-bankruptcy cases and sky-rocketing default rates, 2010 appears to have ushered in a new era of normalcy when it comes to corporate restructuring in the U.S. </span><br />
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____________________________________________________________<br />
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<span style="font-size: x-large;">U.S. EQUITY NEWS:</span></div>
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<b>FRIDAY:</b></div>
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President Barack Obama on Tuesday will visit the birthplace of General Electric Co. (GE) in its birthplace of Schenectady, N.Y., with GE Chief Executive Jeffrey Immelt as part of a new effort to mend relations with the private sector. The president will tour the company's largest energy division, according to a White House official.<br />
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Liz Claiborne tumbled 14% after the apparel maker cut its operating income forecast for the second half of 2010, citing "clearly disappointing" direct-to-consumer sales in December.<br />
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Wall Street banks J.P. Morgan Chase and Morgan Stanley win approval from China to underwrite deals in China's fast-growing securities market with local partners.</div>
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AIG, which is trying to end a long-running case over alleged under-reporting of premiums on workers' compensation policies, agrees in principle to pay $450 million to settle litigation with rival insurance companies. Shares rise 4%.</div>
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The giant consumer-electronics seller's sales drop to $8.4 billion as same-store sales decline 4%. Domestic segment revenue decreases 3.2% from a year earlier, hurt by softer TV and entertainment-software sales. Shares up 1%. </div>
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KB Home's 4Q profit slides 83% to $17.4 million, or 23c a share, though results were better than analysts had feared, as revenue falls by one-third and the company records a significantly lower tax benefit than a year earlier. Shares rise 6%.</div>
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Apple says more than one million apps for its Macintosh computers were downloaded the day it took the wraps off its newest online store to sell the apps. Apple will take a 30% cut of app revenue.</div>
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<div style="font-family: Arial,Helvetica,sans-serif;">
<b>THURSDAY:</b></div>
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Graphic-chip maker Nvidia rallied 2.35, or 14%, to 19.33, after saying late Wednesday that it is developing its first computer processor aimed at mainstream computing, a move that makes the company a direct challenger to Intel and Advanced Micro Devices. </div>
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Shares of Intel eased 17 cents, or 0.8%, to 20.77, while AMD slid 22 cents, or 2.5%, to 8.69. <br />
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TJX, parent of off-price chains T.J. Maxx and Marshalls, gained 2.52, or 5.9%, to 45.52, after raising its earnings outlook for the fourth quarter, pointing to growth in the number of customer transactions. <br />
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Constellation Brands' fiscal 3Q profit more than triples to $139.3 million, or 65c a class A share, as the company benefits from a lower tax rate and as fewer charges dented its bottom line. Shares slip 3%.<br />
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Gap fell 1.53, or 6.9%, to 20.70, after reporting a surprise drop in December sales, with particular weakness at its namesake stores in North America.<br />
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Target dropped 4.01, or 6.8%, to 54.93, after its same-store sales increased only 0.9% last month, falling far short of analysts' estimates.<br />
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Macy's fell 1.00, or 4%, to 23.97, while Kohl's shed 1.67, or 3.1%, to 52.23, after missing Street expectations, though the retailer raised the low end of its earnings forecast for the fourth quarter.<br />
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Zumiez plunged 2.23, or 8.4%, to 24.44, and Wet Seal, down 45 cents, or 12%, to 3.46. </div>
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Boeing's 4Q commercial aircraft deliveries decline 4.9% to 116 from a year earlier, when the figure more than doubled after one of the worst years on record.</div>
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Shares in BP rise, as investors conclude that the report of a U.S. presidential commission into last year's Gulf oil spill reduced the likelihood that the company would be found guilty of gross negligence.</div>
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AT&T cuts its price for Apple's iPhone 3GS to $49 from $99 as the carrier prepares for heightened competition from a Verizon Wireless iPhone launch expected early this year. The iPhone 4, released in June, sells for $299.<br />
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MetroPCS Communications tumbled 96 cents, or 6.7%, to $13.30, after the prepaid wireless provider disclosed its fourth-quarter subscriber growth slowed from the prior period.<br />
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AT&T shed 40 cents, or 1.4%, to 29.15, after cutting its price for Apple Inc.'s iPhone 3GS to $49 from $99 as the carrier prepares for heightened competition from a Verizon Wireless iPhone launch expected early this year.<br />
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Verizon Communications, which operates Verizon Wireless as a joint venture with Vodafone Group, slid 95 cents, or 2.6%, to 36.23. </div>
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Inundated with demand, Goldman Sachs will stop taking orders for shares of Facebook, and it will give some investors a small fraction of their requested shares, people familiar with the situation tell The Wall Street Journal.</div>
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Monsanto swings to fiscal 1Q profit of $6 million, or a penny a share, as its seeds and genomics business turns in sales growth of 13% and the agribusiness giant recovers from a sharp drop in sales of its Roundup and other herbicides.</div>
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Bank of America will soon begin testing fees of roughly $6 per month on its most basic account and customers will have no waiver options, a person familiar with the plan tells The Wall Street Journal.</div>
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In an Oct. 20 letter to AIG, the SEC asked the company to explain whether a U.S. regulatory filing from two days earlier should be interpreted as an offering to sell the shares of its Asian life insurance unit AIA Group to U.S. investors.. <b><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">WEDNESDAY: </span></b><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">China Shen Zhou Mining (SHZ) Files $50M Mixed Securities Shelf . stock raised 0.37 to $10.20 a share under heavy volume.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Online health insurance marketer eHealth Inc. (EHTH) will probably miss Street's 4Q EPS view and offer 2011 guidance "meaningfully below" expectations, Citi says. The stock surged more than 60% in late 2010, but down 7.4% to $12.68 in recent trade.</span> <br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Qualcomm rose 2% after it agreed to acquire Atheros Communications for $3.1 billion in cash as the suitor seeks to fill a hole in its chip-making operations. Atheros's shares rose 1.3% to $44.55 per share, below the $45 per share offer price, after surging 19% the day before. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Family Dollar Stores slid 7.2% as the discount retailer cut its earnings outlook for the current quarter. Fiscal first-quarter earnings rose 9.9% as the company continued to report increased customer traffic and sales. Rivals Dollar General and Dollar Tree fell 2.9% and 4% respectively.</span> <br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">BJ's Wholesale Club fell 1.1% after the discount retailer said it would close five under performing stores and restructure its home office. At the same time, December same-store sales increased 3.8%, short of expectations of a 4.4% increase. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Shares in Mosaic rose 2% after the fertilizer producer late Tuesday reported fiscal second-quarter sales and earnings that were both comfortably ahead of market expectations. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">US Airways Group rose 2.8% after the low-cost carrier said traffic rose 6% in December from a year earlier, continuing an industry-wide trend of growth even as last month's foul weather hampered airlines.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Worthington Industries fell 2.2% after the steel-processing and metal products company saw fiscal second-quarter profit fall 38% amid higher costs. <br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Qiao Xing Universal Resources jumped 21% after the company said it acquired a 34.5% equity interest in a Chinese copper-molybdenum mining company for 185 million yuan ($27.9 million) from a local Chinese government agency. <br />
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<b>TUESDAY:</b> </div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">China's Zuoan Limited Plans IPO Of Up To $100 Mln ADSs</span>.<span style="font-family: "arial" , "helvetica" , sans-serif;">The company has applied to list its ADS on the New York Stock Exchange under the symbol ZA. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"></span><span style="font-family: "arial" , "helvetica" , sans-serif;"> China's Zuoan Fashion Ltd. said it plans to sell up to $100 million of American depositary shares in an initial public offering, as the menswear company looks to fund store openings and enhance its advertising and promotions. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The IPO market has generated large interest in Chinese companies, with many among the most well-received by investors in 2010. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Zuoan Fashion sells its products through a distribution network covering 27 of China's provinces and centrally administered municipalities, as well as through direct stores. It mostly targets urban males between the ages of 20 and 40. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The company said, according to Frost & Sullivan Report, Zuoan-branded products ranked second in China within the casual menswear market, with a 5.4% market share. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">According to a filing with the U.S. Securities and Exchange Commission, Zuoan Fashion intends to use proceeds from the offering to open its directly operated flagship stores in China, which incorporates the company's current plan to open 50 of those locations by 2012. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">For the first nine months of 2010, Zuoan's reported revenue climbed 25% to CNY613.9 million ($91.8 million), helping profit rise 11%. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Macy's moved up today as retail stocks received a boost today, as analysts forecast their projections for December retail sales.</span><br />
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Dell Inc. (DELL) has agreed to acquire information-security company SecureWorks Inc., bolstering its offerings in on-demand information technology services. </div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Food retailers in the S&P 500 fell Tuesday after Bank of Montreal downgraded Safeway, Vitamin Shoppe, and Whole Foods to marketperform from outperform, noting limited upside. Shares of Safeway fell 3.9%, Vitamin Shoppe was off 4.9% and Whole Foods shed 3.3%. BMO also reduced its estimates for Supervalu, noting the chain's inability to drive traffic, and Kroger, saying the fiscal year 2011 consensus could be too high given the challenging environment. Supervalu tumbled 8.5%, while Kroger lost 2%. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"> Morgan Stanley also cut Safeway and Supervalu to underweight from equalweight, noting Supervalu's strategy to reduce prices will collide with inflationary food costs. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Qualcomm is near an agreement to buy semiconductor manufacturer Atheros Communications, the New York Times reports. Deal would be for about $3.5 billion, or about $45 a share. Atheros shares jump 17%.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Archer Daniels Midland Co. (ADM) has bought out its partner in Golden Peanut Co. LLC, giving it full control of the largest peanut processor and exporter in the U.S.The peanut company's operations include seven handling facilities in the U.S. and one in Argentina. It is also the largest peanut sheller and peanut-oil refiner in the U.S. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Borders Group plunged 9.4% after the book retailer's Counsel Thomas Carney and Chief Information Officer D. Scott Laverty resigned.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">U.S.-listed shares of BP rose 1.9%, touching a six-month high following reports that compensation payouts for the Gulf oil spill may be much lower than expected .</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Shares of Motorola Mobility Holdings rose 7.8% and Motorola Solutions gained 0.2% as Motorola's long-awaited split into two entities officially took place Tuesday.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Seven insurance companies have filed lawsuits against Toyota seeking a total of $230,000 to cover cost of claims paid for accidents related to the unintended acceleration problems identified in Toyota vehicles in the last several years.</span><br />
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<b>MONDAY:</b></div>
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Motorola Inc.'s (MOT) long-awaited split into two entities is set to take place formally Tuesday.</div>
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The two spinoffs will be Motorola Mobility Holdings Inc. (MMI), consisting of its consumer-focused smartphone and set-top box business, and Motorola Solutions Inc. (MSI), focusing on public safety radios and handheld scanners.</div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Goldman Sachs and Russia's Digital Sky Technologies have invested $500 million in Facebook in a deal that gives the social networking site a valuation of $50 billion.</span><br />
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Ruby Tuesday (RT) jumps 7% to $13.98 as Morgan Keegan expresses confidence in the casual-dining chain's plan to further improve results at its namesake brand, convert underperforming Ruby Tuesdays to other flags and have Lime Mexican Grill become a new growth driver. Firm upgrades RT to outperform from market perform ahead of Wednesday's release of 2Q results and boosts price target to $15 from $13 as shares have surged nearly 55% since late August.</div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Clorox Co. (CLX) shares fell about 3% as weak sales of disinfectants, bleach and cat litter in the U.S. caused the household products giant to project disappointing fiscal second-quarter earnings. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"> Clorox also moderated the growth trajectory of its Burt's Bees personal-care business, leading to a goodwill write down of between $250 million to $255 million related to a 2007 purchase of the brand for $925 million. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"> Clorox's warnings reflect lingering challenges for household products companies to sell products amid still-weak consumer spending</span>.<br />
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Ann Taylor Stores (ANN) Cut To Neutral From Overweight By Piper Jaffray Barnes & Noble climbed 6% after the bookseller said its preliminary holiday same-store sales surged 9.7%, partly thanks to strong sales of its Nook e-reader device. The company said last week that the Nook had become the best-selling product in its nearly 40-year history.</div>
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Tyson Foods (NYSE: TSN) opened at $17.17. The stock touched a low of $16.65 and a high of $17.21. TSN is now trading at $16.67, down $0.55.<br />
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Berkshire is prepping a $1.5 billion sale of three- and 10-year senior unsecured notes. The three-year piece will consist of fixed and/or floating-rate notes, while the 10-year will be a fixed-rate piece. </div>
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Taxation issues are holding up a deal that will lead to a consortium of iGATE and Apax Partners buying a controlling stake in Patni Computer Systems from the company's founders and private equity firm General Atlantic.<br />
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Coach (NYSE: COH) opened at $54.79. Coach stock has hit a low of $54.20 and a high of $55.03. COH is now trading at $54.75, down $0.56. </div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Bank of America said it expects to take a provision of about $3 billion in the fourth quarter to buy back bad loans from Freddie Mac and Fannie Mae that were issued by its troubled Countrywide Financial unit. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Alcoa and Boeing were also strong, boosted by upgrades from analysts. Alcoa climbed 4.2% after Deutsche Bank raised its investment rating on the aluminum giant's stock to buy from hold, citing "growing optimism" on the likelihood for higher aluminum prices and a belief that "Alcoa has turned the corner from an operational point of view." Boeing climbed 1.5% after J.P. Morgan upgraded its investment rating on the stock to overweight from neutral, saying its outlook for "core commercial aircraft business continues to improve." </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Intel fell 0.5%. Piper Jaffray cut its investment rating on the stock to neutral from overweight, saying Intel is missing the wave of "ultramobile devices," and it expects PC unit growth to decline. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Canadian Market:</span><br />
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<b><span style="color: #990000; font-family: "arial" , "helvetica" , sans-serif;"><span style="color: black;">FRIDAY:</span></span></b><br />
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<span style="font-size: x-large;"><span style="font-family: "georgia" , "times new roman" , serif;">Toronto Stocks Lower Friday</span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Toronto stocks closed lower Friday, capping a week of steady declines, after a fire at the Canadian Natural Resources' Horizon oil-sands plant,.a major oil-sands facility, further battered sentiment on the energy sector. The S&P/TSX Composite Index fell 39.37 points, or 0.3%, to 13,272.30. Decliners outweighed advancers 851 to 790. Trading volume was 513.1 million shares, down from Thursday's total of 563.0 million shares. The S&P/TSX 60 Index closed down 2.72 points, or 0.4%, to 759.87.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Canadian Natural Resources diving C$2.35 to C$40.60 amid uncertainty over the effect the fire will have on its production, the bearishness appeared to spread to other producers. Suncor Energy ended 0.16 lower to 36.98 and EnCana Corp. lost 0.32 to 28.47. Overall, the energy index lost 1.10%. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Other decliners included the materials group, which fell 0.64% as investors continued to trim profits from the sector, one of 2010's big winners. The information technology group slipped 0.61%. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The financials group added 0.37% on the good employment numbers, and industrials rose 0.27%. Royal Bank of Canada rose 0.41 to 52.02, Potash Corp. slipped 2.88 to 165.88 and Manulife Financial lost 0.05 to 17.63. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The stock market was weaker at midday Friday, hurt by softness in the energy and materials sectors after Canadian National Resources shut down production at its Horizon oil-sands plant in Alberta and investors sold the stock in response. Canadian dollar opened on Friday at 100.37 cents US, up 0.06 of a cent. TSX Venture Exchange stood at 2,221.06, up 3.88 points at noon on Friday. Toronto gold quoted at C$1,360 bid, C$1,361 asked in mid-morning trading. The Canadian dollar advanced Friday morning as traders took in a strong employment report for December.<br />
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The loonie was off early highs by late morning but still up 0.33 of a cent at 100.64 cents US as Statistics Canada reported that Canada's economy added 22,000 jobs in December, while the unemployment rate stayed unchanged at 7.6 per cent from the previous month as more people entered the workforce. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">At mid-day, the S&P/TSX Composite Index was down 25.75 points, or 0.19%, at 13285.92 and declines led advances 741 to 645. Trading volume was 231.10 million shares. The S&P/TSX 60 Index was down 1.73 points, or 0.23%, to 760.86 points. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Toronto Indexes, Volume Friday; CLOSING Composite Down 39.37</b> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> S&P/TSX Composite 13272.30 off 39.37 or 0.3%<br />
S&P/TSX 60 Index 759.87 off 2.72 or 0.4%<br />
Financials 183.68 up 0.67 or 0.4%<br />
Materials 428.96 off 2.76 or 0.6%<br />
Energy 314.26 off 3.48 or 1.1%<br />
Industrials 111.81 up 0.30 or 0.3%<br />
IT 31.10 off 0.19 or 0.6%<b><br />
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Volume Friday Thursday</b> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">9:30-5 515.40 563.5M<br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">ECONOMIC NEWS:</span></b><br />
<span style="color: #990000; font-family: "arial" , "helvetica" , sans-serif;"><span style="color: black;"><span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;">CANADA JOBS UP, RECORD</span></span></span><br />
<span style="color: #990000; font-family: "arial" , "helvetica" , sans-serif;"><span style="color: black;"><span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;">GAIN IN MANUFACTURING</span><br />
Canadian job creation modestly exceeds expectations in December as employers, primarily in the private sector, filled full-time positions and eliminated part-time workers, leaving the jobless rate steady at a near two-year low.</span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;"> The national unemployment rate was 7.6 per cent in December. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities and provinces but cautions the figures may fluctuate widely because they are based on small statistical samples. </span><span style="color: #990000; font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><span style="color: black;"> </span></span><br />
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<span style="color: #990000; font-size: x-large;"><span style="color: black;">Canada's Bankruptcy Debt Warnings</span></span></div>
<span style="color: #990000; font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><span style="color: black;">Canada's Superintendent of Bankruptcy issued a warning to Canadians about the dangers of high household debt Friday, adding his voice to the chorus from officials concerned about the amount of leverage the average resident now has. <br />
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In a letter attached to the latest report on bankruptcy statistics, James Callon said it was "important for Canadians to be aware of the risks and possible consequences of taking on a large amount of debt." <br />
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He noted that a significant event - a change in employment such as job loss, or a change in family status such as a divorce, or a serious illness - "can cause a huge drain on finances." If such an event were to suddenly occur in a household carrying a large amount of debt, that could lead to "the harsh realities of insolvency," Callon said. <br />
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The number of consumer insolvencies filed in Canada in October 2010 was 22.5% higher than in 2007-08, before the economic crisis that led to the recent recession. <br />
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Household debt in Canada reached a record C$1.41 trillion in December. According to Statistics Canada, debt to household income levels has reached a record 148%, rising above comparable U.S. figures for the first time since the late 1990s. <br />
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Bank of Canada Governor Mark Carney recently warned that a growing number of Canadian households were vulnerable to adverse shocks, and more would become vulnerable if interest rates go up from record low levels as expected. Finance Minister Jim Flaherty has also sounded numerous warnings on household debt levels in recent months.</span></span><i style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><br />
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<b><span style="color: #990000; font-family: "arial" , "helvetica" , sans-serif;"><span style="color: black;">THURSDAY:</span></span></b><i style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Toronto Stocks Closed Lower Thursday</span><b><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />
</span></b><span style="font-family: "arial" , "helvetica" , sans-serif;">The S&P/TSX Composite Index closed 84.32 points lower, or 0.63%, to 1331.67, declines exceeded advances 913 to 726 and trading volume was 563.00 million shares, up from Wednesday's total of 524.70 million shares. The S&P/TSX 60 Index closed down 4.13 points, or 0.54%, to 762.59. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The TSX Venture Exchange was trading at 2,236.69 on Thursday, down 25.79 points. The volume at noon was at 25.79 million shares.</span><span style="font-family: "arial" , "helvetica" , sans-serif;">Canadian dollar is down 0.13 of a cent to 100.23 cents US at 11 a.m. ET Thursday.Toronto gold quoted at C$1,363 bid, C$1,364 asked in mid-morning trading. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The stock market was lower at midday Thursday, led by weakness in the energy, and materials sectors. At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was down 70.79 points, or 0.53%, at 13325.20 and declines led advances 827 to 591. Trading volume was 272.60 million shares. The S&P/TSX 60 Index was down 4.07 points, or 0.53%, to 762.65 points. The TSX Venture Exchange opened on Thursday at 2,253.15, down 9.32 points..</span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">Toronto Indexes, Thursday Volume; Closing Composite Down 84.32<br />
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</span></b><span style="font-family: "arial" , "helvetica" , sans-serif;">S&P/TSX Composite 13311.67 off 84.32 or 0.6%<br />
S&P/TSX 60 Index 762.52 off 4.13 or 0.5%<br />
Financials 183.01 off 0.52 or 0.3%<br />
Materials 431.72 off 5.05 or 1.2%<br />
Energy 317.74 off 5.58 or 1.7%<br />
Industrials 111.51 up 0.96 or 0.9%<br />
IT 31.29 up 0.02 or 0.1%</span><b><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />
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Volume Thursday Wednesday<br />
</span></b><span style="font-family: "arial" , "helvetica" , sans-serif;"> 9:30-5 563.5M 527.1M</span><b><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">ECONOMIC NEWS:</span></b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Ivey Purchasing Managers Index At 50.0</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Ivey Purchasing Managers Index was at 50.0 in December, indicating that purchasing activity in Canada was unchanged from a month earlier. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Ivey PMI is compiled by the Purchasing Management Association of Canada and the Richard Ivey School of Business and measures changes in dollars of purchases as indicated by a panel of 175 purchasing managers from across the country. It includes both the manufacturing and non-manufacturing sectors, and isn't seasonally adjusted. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Canadian dollar modestly weakened versus its U.S. rival following the report. The U.S. dollar rose to C$0.9979, from C$0.9959 just before the release and C$0.9960 late Wednesday, according to data provider CQG. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The report's one disappointment, was the employment index, which was at 47.3 for December, indicating employment was lower than in the previous month. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> The inventories index was at 54.1 in December, indicating inventories were higher than in the previous month. The prices index was at 62.3, indicating prices were higher than in November. The supplier deliveries index was at 40.4, indicating supplier deliveries were slower than in November. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Economic Club of Canada survey says Canadians less optimistic about economy </span></span><br />
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The chief economists of Canada's big five banks gave their predictions for moderate Canadian growth Thursday at a panel discussion sponsored by the Economic Club of Canada.</div>
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About an hour before the economists took the stage in Toronto, the Economic Club released the bleak results of a survey that showed 65 per cent of respondents still believe Canada is in a recession.</div>
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Economists officially declared the recession had come to an end in mid-2009.</div>
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"The perceptions don't reflect the fact that things have been getting better for now a year and a half," TD's chief economist Craig Alexander told the Toronto audience.</div>
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"There's no question that the recession is over, so how do you actually reconcile the poll results with what the economic forecasters are talking about?"</div>
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Avery Shenfeld, chief economist at CIBC, said the difference of opinion stems from semantics.</div>
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"Canadians are reflecting, rightly, that the job market isn't as good as it was when times were good and they say 'we're in recession' because of that, where economists say 'we're in recovery' because we're not as bad as we were during the recession."</div>
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Canada has churned out six quarters of economic growth, and the economy has recovered all of the jobs lost during the recession, but the Economic Club and Pollara survey suggests that Canadians are less optimistic about the state of the economy than they were a year ago.</div>
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The poll found that about 38 per cent of respondents feel the Canadian economy will improve in the next few months, compared to 54 per cent who felt that way a year ago.</div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;"><i>Read the entire article at the Winnipeg Free Press</i>:</span></b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> <a href="http://www.winnipegfreepress.com/business/breakingnews/economic-club-of-canada-survey-says-canadians-less-optimistic-about-economy-113000849.html">http://www.winnipegfreepress.com/business/breakingnews/economic-club-of-canada-survey-says-canadians-less-optimistic-about-economy-113000849.html</a> </span><br />
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<span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">Capital Investment at Domtar Mill in Quebec </span></span></div>
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Prime Minister Stephen Harper has announced about $25 million in investment for paper manufacturer Domtar (TSX:UFS). Harper made the announcement today alongside Natural Resources Minister Christain Paradis at the company's plant in Windsor, Que.</div>
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The Montreal-based pulp and paper producer was granted $143.5 million in credits in 2009 as part of the Pulp and Paper Green Transformation Program — the largest amount given to a single company. Today's final investment is for $24.8 million.</div>
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Harper heads to the Quebec town of Victoriaville this afternoon for an economic roundtable meeting at the offices of Norampac, a containerboard producer and affiliate of Cascades (TSX:CAS).</div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">MARKET NEWS:</span></b><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">Franco-Nevada Reaches Definitive Deal To Buy Gold Wheaton </span><br />
Franco-Nevada Corp. (FNV.T) and Gold Wheaton Gold Corp. (GLW.T) have, as expected, signed a definitive deal under which Franco-Nevada will purchase Gold Wheaton for about C$5.20 a share.</span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">WEDNESDAY:</span></b></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Toronto Stocks End Lower Wednesday </span></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Toronto stocks ended slightly lower, as strength in technology stocks wasn't quite enough to offset weakness in gold issues and to a lesser degree energy, particularly among small and mid cap stocks. <br />
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The S&P/TSX Composite Index fell 6.32 points, or 0.05%, to 13395.99, declines exceeded advances 868 to 770 and trading volume was 524.70 million shares, down from Tuesday's total of 552.30 million shares. The big-cap S&P/TSX 60 Index closed up 0.64 points, or 0.08%, to 766.72. <br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Commodity prices weakened in response to the stronger U.S. dollar following the release of some bullish U.S. economic data. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Gold spot price was quoted at C$1,366 bid (US$1,374) and C$1,367 asked (US$1,375) at the close of trading Wednesday at Travelex Canada Ltd.</span><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">. </span><br />
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<b>MARKET NEWS:</b></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Plutonic Power Corp. (TSX: PCC) and a subsidiary of GE (NYSE:GE) have agreed to buy three solar-electric facilities to be built in Ontario. Plutonic will be the managing partner of the projects, which will have the capacity to generate up to 50 megawatts of electricity. Project debt will be arranged by the seller, First Solar Inc. (Nasdaq:FSLR).</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span></div>
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<span style="font-size: x-large;">Canada Small Business Confidence Higher</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">An index of Canadian small business confidence rebounded strongly in December to the highest level since March, which the Canadian Federation of Independent Business Wednesday said was a signal the economy is "at last finding some firmer footing." <br />
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The CFIB's Business Barometer Index rose to 69.3 from 64.0 in November, edging close to the post-recession high of 69.9 reached in March. <br />
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"Interestingly, it wasn't holiday retail spending that accounted for the brighter sentiment," CFIB vice-president and chief economist Ted Mallett said in a report. "Instead, a large improvement in optimism among manufacturers, natural resource businesses, financial services and personal services firms pushed the overall index upward." <br />
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Business confidence improved in 10 of the 13 sectors, led by manufacturing which scored 78.5 points. Optimism among retailers improved slightly, but the index was still almost 4 points below the overall average, the CFIB said. <br />
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The report said business metrics such as inventory levels, new orders and overtime are "staying on their improving trend lines." Also, capital investment, particularly on computer and communications equipment is on an upward track. <br />
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Only about 14% of business owners plan to add to full-time staff in the next three months, while another 14% are planning lay-offs. Meanwhile, 13% are planning to raise part-time employment versus 17% who are planning cut-backs. <br />
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Among provinces, Ontario's score was 69.5, its strongest showing since March. Sentiment also improved in Manitoba and Quebec. <br />
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<i>For more information visit their website</i>: <a href="http://www.cfib.ca/">http://www.cfib.ca</a> </span></div>
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<b>TUESDAY:</b></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Toronto Stocks Mixed Lower Tuesday</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The S&P/TSX Composite Index fell 40.91 points, or 0.30%, to 13402.31, declines exceeded advances 868 to 816 and trading volume was 552.30 million shares, up from Friday's total of 102 million. The market was closed Monday and only open a half day Friday in observance of New Year's day, which fell on Saturday. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The S&P/TSX 60 Index closed down 2.57 points, or 0.33%, to 766.08. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">TSX Venture Exchange opened on Tuesday at 2,311.48, up 23.63 points. The Canadian dollar opened the year above parity with the U.S. dollar, but gave back 0.43 cents to 100.11 cents US as commodities moved lower. The Canadian dollar is now down 0.44 of a cent to 100.10 cents US at 11 a.m. ET Tuesday</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The market turned mixed at midday Tuesday, partially weighed down by precious metals adn energy issues. At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was down 30.87 points, or 0.23%, at 13412.35 but advances had edged declines 744 to 743. Trading volume was 277.80 million shares. The S&P/TSX 60 Index was down 1.96 points, or 0.25%, to 766.69 points.</span><br />
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The Canadian Loonie (dollar) kicked off the new year above parity, but fell slightly from Friday's two-year high as commodity prices pulled back from record territory. The loonie gave back 0.39 cents to close the trading day at 100.15 cents U.S.</div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">MARKET NEWS:</span></b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">In corporate developments, Bombardier Aerospace (TSX:BBD.B) says it has received firm orders for four CRJ700 NextGen regional jets from SkyWest Inc. in a transaction valued at US$148 million. Shares were up five cents to $5.05.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Atrium Innovations says it has acquired dietary supplement marketer Seroyal International for US$110 million in cash. Shares in the Quebec-based manufacturer and seller of supplements gained six per cent or 95 cents at $16.17.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Torstar (TSX:TS.B) said it has received $40 million in connection the Woodbridge Company Ltd.'s move to increase its stake in the Globe and Mail to 85 per cent. Shares in Torstar fell 10 cents to $12.20.</span><br />
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Baffinland Iron Mines Corp. (TSX:BIM). Miner. Up two cents, or 1.40 per cent, at $1.45 on 3,832,079 shares. European steel giant ArcelorMittal says it won't increase its offer for the Canadian company beyond $1.40 per common share. ArcelorMittal's bid for all of Baffinland matched the price offered by rival Nunavut Iron Ore Acquisition Inc. </div>
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Enbridge Inc. (TSX:ENB). Pipeline. Down 56 cents, or one per cent, at $55.71 on 647,317 shares. The Calgary-based company plans to shut down a crude oil pipeline in the U.S. Midwest for about five days in February and March for repair.<br />
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Members of Saskatchewan First Nation concerned about deal to build potash mine<br />
Some members of a Saskatchewan First Nation say there are more questions than answers about the development of a potash mine on reserve land.<br />
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The Muskowekwan First Nation announced last fall that it had signed an agreement with Vancouver-based Encanto Potash Corp. (TSX:V:EPO) to develop the mine on the reserve, about 75 kilometres northeast of Regina.<br />
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Band member Pamela Blondeau says people haven't been given enough information to know if they should support the deal. </div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">ECONOMIC NEWS:</span></b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Canada PM Names New Environment Minister</span><br />
Canadian Prime Minister Stephen Harper named his fourth environment minister in five years in a minor cabinet shuffle which involved the promotion of four lawmakers, including a newly elected member of parliament. <br />
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Peter Kent becomes the new environment minister, filling the vacancy created by the surprise resignation of Jim Prentice in November to take up a top banking position in the private sector. It's a promotion for Kent, who was junior minister of foreign affairs. <br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Toronto: </span><i style="font-family: Arial,Helvetica,sans-serif;">Canadian financial markets and institutions were closed Monday.</i></div>
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<b>FRIDAY:</b></div>
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<span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;">Brazil Stocks Lower Friday</span><br />
<i><b><span style="font-family: "arial" , "helvetica" , sans-serif;">Brazil's blue-chip stocks were mixed in Friday trading. </span></b></i><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Brazilian stocks dropped Friday as slower-than-expected job creation in the U.S. and the prospect of rising interest rates at home overwhelmed optimistic expectations for gains by Brazil's steel stocks. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The benchmark Ibovespa stock index slipped to 70057 from Thursday's close of 70578 points. The index has gained 1.1% this year. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"></span><span style="font-family: "arial" , "helvetica" , sans-serif;">In Brazil, higher-than-expected inflation in December reinforced the view that the central bank's monetary policy committee will raise rates at its next meeting this month. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Consumer inflation as measured by Brazil's official IPCA index, rose 0.63%, slightly above the median estimate of a 0.60% advance made by 10 analysts polled by Dow Jones Newswires. The December gain pushed the yearly increase to 5.91% in 2010, the fastest rate of inflation since 2004. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> Interest-rate-sensitive stocks posted big losses on the index, with the investment unit of Brazil's biggest non-state bank leading declines. Itausa Investimentos Itau (ITSA4.BR) slumped 2.94% to BRL12.87, while parent company Itau Unibanco Banco Multiplo SA (ITUB, ITUB4.BR) dropped 2.37% to BRL30.95. Leading lenders Banco do Brasil SA (BDORY. BBAS3.BR) and Banco Bradesco SA (BBD, BBDC4.BR) fell more than 1.6% each. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Brazil's biggest retailer, Cia. Brasileira de Distribuicao Grupo Pao de Acucar (PCAR5.BR) dropped 2.79%, while home builder Gafisa SA (GFA, GFSA3.BR) fell 2.71%. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Utilities, whose electric rates are usually adjusted to match inflation, posted strong performances, with Cia. Energetica de Minas Gerais (CMIG4.BR) leading gains on the index. Cemig, as the state-controlled electric company is known, jumped 2.5% to BRL28.24. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Usinas Siderurgicas de Minas Gerais (USNZY, USIM5.BR) led the industry after the flat-steel maker was raised to buy at BTG Pactual. The brokerage said the country's steel stocks have bottomed and should show improvement after the first quarter. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Usiminas rose 1.73% to BRL20.60, while rival steelmaker Metalurgica Gerdau SA (GOAU4.BR) rose 0.28% to BRL28.59. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">"Brazilian steel stocks have also bottomed," BTG analyst Edmo Chagas wrote. "We do not expect domestic steel prices to deteriorate much further as we see real demand improving and potential de-stocking through [the first quarter]. Coupled with the expected decline in imports, this should help drive double-digit [11%] volume growth in 2011, with local companies clearly benefiting from this trend." </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"></span><span style="font-family: "arial" , "helvetica" , sans-serif;">Iron-ore producer Vale SA (VALE, VALE5.BR) fell 0.75% to BRL51.20. State-controlled oil company Petroleo Brasileiro SA (PBR, PETR4.BR) fell 1.4% to BRL26.73. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Telephone company Tele Norte Leste SA (TNE, TNLP4.BR), or Oi, advanced 0.04% to BRL25.71. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), or Embraer, slipped 0.9% to BRL12.14.</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">THURSDAY:</b> <br />
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<span style="font-size: x-large;"><span style="font-family: "georgia" , "times new roman" , serif;">Brazil Stocks Trade Lower Thursday</span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Brazilian stocks traded lower early Thursday, as the market digested new foreign exchange measures announced by Brazil's Central Bank. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The measures, which raise local banks' reserve requirements for short dollar positions, hurt banks' share prices. However, traders said the measures should favor exporting companies as they may curb the real's strength. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Ibovespa index of blue-chip companies opened at 71,092 points, marginally higher than Wednesday's close of 71,091 points. However, within minutes the index moved into negative territory, hovering at around 70,798 points during the first trading hour. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The central bank early Thursday announced a new reserve requirement for banks with short-term dollar positions of over $3 billion. Under the new rules, effective April, banks must deposit the equivalent of 60% of these positions with the central bank, at zero interest rates. The move is designed to create local demand for dollars and curb the appreciation of the real, which has in recent months hit the international competitiveness of Brazilian exporters. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Bank shares responded negatively to the news. Banco Bradesco SA (BBDC4.BR) fell 1.06% to BRL33.59 ($19.99), while Bradesco's investments unit Braadespar SA (BRAP4.BR) shed 0.57% to BRL46.85. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Banco do Brasil SA (BBAS3.BR) slipped 0.25% to BRL31.90. Banco Santander Brazil Unit (SANB11.BR) fell 0.35% to BRL22.48, while Itau Unibanco Banco Multiplo SA (ITUB4.BR) shed 1.01% to BRL40.19. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Most other stocks were also down, including oil and gas giant Petroleo Brasileiro SA (PBR. PETR4.BR), which shed 0.11% to BRL27.18, and utility Eletrobras SA (ELET3.BR) which dived 1.30% to BRL23.56. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">One of the positive performers was miner Vale SA (VALE, VALE5.BR), which gained a marginal 0.06% over Wednesday's close to BRL51.59.</span><br />
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<span style="font-size: x-large;">Central Bank Measures Ease Pressure On Real</span></div>
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Brazilian Finance Minister Guido Mantega said Thursday the central bank's increase in reserves that banks must hold to cover their currency bets will alleviate pressure on the real, though it may not reverse the currency's climb against the dollar. <br />
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The central bank's move "is a step in the right direction by limiting short positions and, therefore, the pressure on the real to gain decreases," Mantega said in Brasilia. <br />
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The Finance Ministry will follow the effect of the measure to determine if additional action is necessary to contain the real's gain, Mantega said. Brazil has stepped up action to weaken the real on concern that the country's exporters are becoming less competitive. <br />
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The government didn't raise reserve requirements on currency bets earlier because the jump in short dollar positions, which indicates investors expect the dollar to weaken, happened only in recent months, Mantega said..</div>
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<b>WEDNESDAY:</b></div>
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Brazilian Stocks Climbed Wednesday</div>
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<b>TUESDAY: </b></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Brazil Stocks Gained Tuesday</span><br />
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Brazilian stocks climbed Tuesday, rising for a fifth session, as investors bet that global growth will drive demand for the country's commodities, and on speculation that state-controlled utility known as Cesp may be privatized. <br />
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The benchmark Ibovespa stock index settled at 70318 points, a 0.5% gain from Monday's close of 69962 points. <br />
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Recovering growth in the world's major economies and continued demand from China will likely boost demand for raw materials. Domestically, high inflation and rising interest rates are already priced in and the stock index offers some cheap stocks that will protect against rising prices, BTG Pactual analyst Carlos Sequeira wrote in a note. <br />
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"We believe that all the cheap money being thrown into the global economy may eventually produce some inflation and support commodity prices," Sequeira wrote. "Measures to restrict credit expansion and curb economic growth may impact Brazil's GDP growth in 2011, (but) we believe they could keep GDP growth within the 4-5% range." <br />
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The economy is expected to have grown 7.6% in 2010 and to expand 4.5% this year, according to economist surveyed by Brazil's central bank. <br />
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Cesp, as Cia. Energetica de Sao Paulo is known, jumped 6.2% to BRL28.50. The energy secretary of the state of Sao Paulo said after assuming his post Monday that the government may put up Cesp for sale, Estado de S. Paulo reported. The government tried to sell the company in the past but had to cancel the auctions due to lack of buyers. <br />
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Gains in the index were offset by a decline in Petroleo Brasileiro SA (PBR, PETR4.BR), which confirmed it is studying the purchase of Italian oil major Eni SpA's (E, ENI.MI) 33% stake in Portuguese energy company Galp Energia SGPS (GALP.LB). <br />
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The state-controlled oil company reportedly offered EUR3.5 billion ($4.69 billion) to buy all of Eni's stake in Galp Energia, according to Portugal's daily Diario Economico. Petrobras fell 0.4% to BRL26.90 and traded as low as BRL26.40. <br />
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Credit- and debit-card companies Redecard SA (RDCD3.BR) and Cielo SA (CIEL3.BR) both slumped, falling more than 2% each on a Valor Economico report Global Payments Inc. (GPN) will start a credit- and debit-card processing service in Brazil this year. <br />
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Brazil's blue chip stocks were mostly higher in Tuesday trading. <br />
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Vale SA (VALE, VALE5.BR), the world's biggest iron-ore producer, jumped 1.9% to BRL50.83. <br />
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Usinas Siderurgicas de Minas Gerais (USNZY, USIM5.BR), Brazil's biggest maker of flat steel for the automotive industry, was up 4% to BRL19.94. <br />
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Telephone giant Tele Norte Leste SA (TNE, TNLP4.BR), or Oi, added 0.5% to BRL24.98. <br />
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Minas Gerais utility Cemig (CIG, CMIG4.BR) rose 0.3% to BRL27.51. <br />
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Gol Linhas Aereas Inteligentes (GOL, GOLL4.BR) jumped after saying it expects an increase of up to 15% of domestic traffic in 2011. Brazil's second-biggest airline rose 2.2% to BRL26.48. <br />
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Aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), or Embraer, climbed 1.93% to BRL12.13.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Brazilian state-run oil company Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, offered EUR3.5 billion ($4.69 billion) to buy all of Italian oil major Eni SpA's (E, ENI.MI) 33.34% stake in Portuguese energy company Galp Energia SGPS (GALP.LB), Portugal's daily Diario Economico reported Tuesday.</span><br />
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<b>MONDAY:</b></div>
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<span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">Brazil Stocks Start Year With Enthusiasm - End Higher Monday</span></span><br />
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The main Ibovespa stocks index ended 0.95% higher, at 69962.32 points, falling back from a break above 70000 late in the session.</div>
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In Brazil's capital, Brasilia, as key members of Rousseff's cabinet gave their inaugural speeches, Brazil's stocks kicked off the new year on an enthusiastic note, as investors digested the first signals from the new administration of President Dilma Rousseff. </div>
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One difference was highlighted by the new Trade and Development Minister Fernando Pimentel, who said Rousseff would talk to China about concerns that the yuan is undervalued--a topic which hadn't been addressed much, at least in public, by Lula's team. The minister also said Rousseff will debate other protectionism issues on her visit to China. <br />
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In his inaugural speech, Pimentel said the ongoing "currency war" is one of the big challenges that Brazil's new government will face, along with high domestic interest rates and taxes, and low investment levels in infrastructure and education. </div>
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Most stocks were in positive territory, although the two main blue chips diverged. Mining giant Vale SA (VALE5.BR, VALE) was up 2.9% at BRL49.90 while oil company Petroleo Brasileiro SA (PETR4.BR, PBR), or Petrobras, was down 1.1% at BRL27.00. <br />
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Brazil's two largest airlines moved higher amid signs that a threatened strike by employees, may not materialize. Gol Linhas Aereas Inteligentes SA (GOLL4.BR) was the biggest gainer early on, rising 3.2% to BRL25.90, while TAM SA (TAMM4.BR, TAM) was up 1.1% at BRL39.4. </div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Brazil's 2010 Trade Surplus Narrows On Imports</span><br />
Brazil's foreign trade surplus narrowed in 2010 as the booming Brazilian economy and the strong appreciation of Brazil's real led to a surge in imports, the Trade and Development Ministry said Monday. <br />
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Brazil's 2010 foreign trade surplus of $20.1 billion narrowed from the 2009 surplus of $24.62 billion, the ministry said. Despite the reduction, the trade surplus was above government expectation of $15 billion for the entire year. <br />
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Exports in 2010 totaled $201.9 billion, up from $152.2 billion seen in 2009. Exports in 2010 surpass the previous annual record saw in 2008 of $198 billion. <br />
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Exports accelerated as global demand fueled world prices for many of the country's commodities. <br />
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In the meantime, imports expanded at a higher pace. Imports were $181.8 billion in 2010, up from $127.64 billion in 2009. <br />
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Brazil's trade surplus began to deteriorate in the second half of 2009 as demand for imports rose, the economy started to recover from the global financial and economic crisis, and the currency began to appreciate. <br />
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After a decline of 0.6% in gross domestic product in 2009, Brazil's economy is expected to increase by more than 7.5% this year, and is expected to grow 4.5% next year. <br />
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The real made most of its gains versus the dollar in late 2009, but the real impact was felt this year, as economic growth caught up. The real strengthened 34% against the dollar in 2009, and is a further 4.4% stronger in 2010.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">BRAZIL TO FREEZE SPENDING </span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Brazil's government will freeze a portion of spending this year, incoming Planning Minister Miriam Belchior said Monday, without revealing by how much. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> "We will have a budget freeze this year because revenues are estimated above what we think we're going to receive," Belchior said in her inaugural speech. "We're going to talk to the cabinet ministers right away to see how we can do more with less." </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Local press have reported in recent days that because the budget approved by Congress doesn't add up, the new administration of President Dilma Rousseff, who took office Saturday, would cut some 20 billion Brazilian reais ($12.1 billion) to BRL30 billion. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Belchior, who takes over from Paulo Bernardo at the planning ministry, didn't provide details of the size of the cutsLocal press have reported in recent days that because the budget approved by Congress doesn't add up, the new administration of President Dilma Rousseff, who took office Saturday, would cut some 20 billion Brazilian reais ($12.1 billion) to BRL30 billion. <br />
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Belchior, who takes over from Paulo Bernardo at the planning ministry, didn't provide details of the size of the cuts.</span><br />
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<span style="font-size: x-large;">MEXICO:</span></div>
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<b>FRIDAY:</b><br />
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<span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;">Mexico's Stocks Close Higher Friday</span><br />
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Mexican stocks ended marginally higher Friday in a late session turnaround. The IPC index of key stocks rose 11 points, or 0.03%, to 38,601 points. Volume was 144.1 million shares worth 4.10 billion pesos ($335.1 million). The index ended 2010 at a record close for the year at 38,551 points, and hit a new all-time high on Wednesday at 38,696 points. <br />
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An afternoon round of profit-taking was followed by the IPC's steady climb upwards in the final hour. Market analysts said next week should be volatile as well, as investors decide whether to take money from the table or hang on for an expected medium-term upside. <br />
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Market bellwether America Movil (AMX,AMX.MX) L shares rose 0.4% to MXN36.17, and cement and building-materials maker Cemex (CX, CEMEX.MX) CPO shares were 0.8% higher at MXN13.17. <br />
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Newly listed mining company Minera Frisco (MFRISCO) A-1 shares gained 5.8% to MXN40.27. Frisco, a spinoff of billionaire Carlos Slim's conglomerate Grupo Carso (GPOVY, GCARSO.MX), began trading Thursday at MXN30.14 and gained 26% in its first session. <br />
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Mexico's biggest retailer Wal-Mart de Mexico (WMMVY) V shares rose 0.3% to MXN35.86 after filing a positive same-store sales report for 2010 and for the month of December after the market close Thursday. <br />
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Silver miner Penoles (PE&OLES.MX) shares shed 2% to MXN422.86. The issue had risen 61% last year. Penoles is the parent company of London-listed Fresnillo PLC (FRES.LN), the world's biggest primary silver producer. <br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Mexico Inflation Ends 2010 At 4.4%</span><br />
Mexican consumer prices rose more than expected in December, pushing inflation for the full year to 4.4%, up from 2009 when the economy suffered a deep recession. <br />
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The Bank of Mexico said Friday that the consumer price index rose 0.50% last month, as higher prices of cigarettes, tortillas, limes and package tours outweighed declines in prices of tomatoes, cars, and others. <br />
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The increase was above the 0.39% median estimate in a Dow Jones Newswires survey of 11 economists. Annual inflation was up from 4.32% at the end of November and from 3.57% in 2009. The core index, which excludes energy and fresh fruit and vegetables, rose 0.47% in December, compared with expectations of 0.43%, and ended the year at an annual 3.61%, down from 4.46% in 2009. <br />
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"While core and non-core measures of inflation increased in December by more than the market expected, a closer look at inflation dynamics reveals that inflation pressures remain low," Benito Berber of Nomura Securities said in a note. "We still believe Banxico (the Bank of Mexico) will not raise the policy rate until Q1 2012." <br />
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After spiking higher in the first quarter of 2010, inflation eased on favorable produce prices and a smaller-than expected impact from last year's increase in consumer taxes. <br />
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The Bank of Mexico expects annual inflation will continue to move lower in the first quarter of this year, and by the third quarter approach its 3% plus-or-minus one percentage point target range. <br />
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With inflation seen remaining tame, market expectations are that the Bank of Mexico will leave its overnight lending rate target unchanged in 2011 at the current 4.5%, and begin raising interest rates in 2012. <br />
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Citigroup unit Banamex said that while processed food prices accelerated last month, there was a slowdown in annual increases for core services, reflecting a still-sluggish recovery in demand and a stable exchange rate.<br />
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<b>THURSDAY:</b><br />
<span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;">Mexico Stocks Close Lower Thursday</span><br />
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Mexican stocks closed lower Thursday as soft U.S. retail sales led to some profit-taking. Mining concern Minera Frisco (MFRISCO.MX) soared 26% in its market debut after being spun off by billionaire Carlos Slim's Grupo Carso (GCARSO.MX, GPOVY) conglomerate. <br />
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The market's key IPC index fell 0.3% to 38,590 points on volume of 145.7 million shares worth 4.7 billion pesos ($386 million). The market had a record close in the previous session and was ripe for profit-taking. <br />
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Cement and building-materials giant Cemex (CX, CEMEX.MX) CPO shares fell 2.2% to MXN13.06. The stock had been edging up since mid-October. Mexico's biggest broadcaster Grupo Televisa (TLEVISA.MX) CPO shares dropped 0.7% to MXN62.69. <br />
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Bread maker Grupo Bimbo (BIMBO.MX) A shares fell 0.6% to MXN105.82, and Mexico's biggest retailer Wal-Mart de Mexico (WMMVY, WALMEX.MX) V shares gained 0.2% to MXN35.76. <br />
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The IPC got knocked off its record perch by U.S. holiday same-store sales that weren't as strong as expected, even as initial jobless claims came in slightly less than forecast. Traders and investors will be looking closely at U.S. nonfarm payroll numbers coming out Friday. One local trader said unemployment in the U.S. is a key worry in Mexico, which sends 80% of its exports to its northern neighbor. <br />
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Much of the trading action was in the mining sector, which got a new player in Minera Frisco (MFRISCO.MX), raising to four the number of mining firms in the local stock market. Frisco's A-1 shares jumped from their pre-market auction price of MXN30.14 at the session's start and climbed throughout the day to close at MXN38.07 on volume of 6.47 million shares. <br />
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Frisco's principal products--gold, silver, lead and copper---have seen rising prices on demand in China for industrial metals, and general investor demand for precious metals. <br />
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Copper miner Grupo Mexico (GMEXICO.MX) B shares fell 0.9% to MXN49.40. Grupo Mexico shares were among the top 2010 performers, rising 69% in the year. Silver miner Industrias Penoles (PE&OLES.MX) shares slipped 3% to MXN431.61. The issue had risen 61% last year. Penoles is the parent company of London-listed Fresnillo PLC (FRES.LN), the world's biggest primary silver producer. Manganese and ferro-alloys firm Autlan (AUTLAN.MX) B shares fell 0.8% to MXN32.18. <br />
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Grupo Carso A1 shares were up 0.8% at MXN34.70. The conglomerate retained its retail and industrial sectors while spinning off Frisco and its real estate holdings, Inmuebles Carso (INCARSO.MX), which had its B-1 shares crash 16% to MXN11.27, after pricing in the pre-market auction at MXN13.43.<br />
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<b>WEDNESDAY:</b><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Mexican Stocks Rise Wednesday</span><br />
<b><i>New Record Close On US Data; IPC Up 0.4%</i></b><br />
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Mexican stocks ended Wednesday at an all-time high as positive U.S. data on jobs and the services sector outweighed a short-lived slip in commodity prices that had been holding markets back. <br />
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The IPC index of the 35 most-traded stocks rose 0.4% to 38,696 points on volume of 144.8 million shares worth 5.01 billion pesos ($411 million.) Leading the charge back to record levels after a dip in the previous session were two IPC heavyweights in the telecom and retail sectors. <br />
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Latin America's biggest wireless provider America Movil (AMX, AMX.MX) L shares rose 1.2% to MXN35.99. The cellular giant is the most heavily weighted stock on the index. <br />
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Mexico's largest retailer Wal-Mart de Mexico (WMMVY, WALMEX.MX) V shares gained 1.6% to MXN35.68. The market bellwether is expected to benefit from an uptick in consumer spending this year. Also, pharmaceuticals firm Genomma Lab (LAB.MX) B shares rose 2.7% to MXN30.99. <br />
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Top metals stocks slipped. Copper miner Grupo Mexico (GMEXICO.MX) B shares fell 0.2% to MXN49.85, and silver miner Industrias Penoles (PE&OLES) slipped 2.6% to MXN444.93. Both mining firms had seen a run-up on their prices as metals prices hit record highs in recent days. <br />
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<b>TUESDAY:</b><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Mexico's Stocks Edge Lower Tuesday</span><br />
<i><b>Mexico's Stocks Close Lower, Retreating From Record High</b></i><br />
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Mexican stocks beat a modest retreat Tuesday after a record-setting start to the year, led by declines in copper miner Grupo Mexico and cement company Cemex. The market's IPC index of leading issues closed down 0.2%, or 64 points, at 38,542, after a string of record-high closes including an all-time intraday high on Monday. Volume showed signs of picking up after the holiday lull, with 131.4 million shares traded worth 4.61 billion pesos ($377 million). <br />
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Cemex CPO shares fell 0.4% to MXN13.37 as the company went to market to place a benchmark amount of seven-year global bonds, according to a person familiar with the deal. <br />
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In a filing with the U.S. Securities and Exchange Commission, Cemex said that in December it prepaid $100 million in debt under its 2009 financing agreement, bringing the outstanding amount under the $15 billion agreement to about $9.6 billion. Cemex shares have risen in recent sessions on optimism about the U.S. economic recovery, which could help the company's earnings recovery. <br />
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Grupo Mexico B shares fell 1.7% as copper prices slipped from record highs. Bellwether America Movil L shares closed up 0.2% at MXN35.58. <br />
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Conglomerate Grupo Carso A1 shares fell 0.7% to MXN77.40 as the company prepares to spin off its mining and real estate units--Minera Frisco and Inmuebles Carso--with the units to begin trading separately on Thursday. Carso shareholders will receive one share in the each of the new companies for each Carso share held. The prices will be determined in a pre-market auction, according to the stock exchange. <br />
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Retailer Wal-Mart de Mexico, or Walmex, V shares edged up 0.1% to MXN35.13. Walmex plans to report its December sales for Mexico and Central America on Thursday after the market close. Citigroup unit Banamex said in a report it expects Walmex to report 3% year-on-year growth in same-store sales for Mexico as higher average spending per customer was offset by a small decrease in store traffic. <br />
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Latin America's largest wireless provider and market bellwether America Movil (AMX, AMX.MX) L shares were rising 0.2% to MXN35.58. Mexico's largest broadcaster Grupo Televisa (TV, TLEVISA.MX) CPO shares were falling 0.6% to MXN64.60.<br />
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<span style="font-size: x-large;">Mexico's Key Oil-Exporting Ports Reopen</span></div>
All three principal ports used by Mexico's state-owned oil company Petroleos Mexicanos, or Pemex, for exporting crude oil were open on Tuesday after bad weather along the Gulf of Mexico had closed them in recent days, the Transport and Communications Ministry said.<br />
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The transport ministry said it was on the alert for another cold front that could move into the Gulf of Mexico on Wednesday afternoon.<br />
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The Dos Bocas port was the last to reopen after closing on Sunday due to bad weather. Pemex's No. 1 crude export terminal at the port of Cayo Arcas, along with another at the Coatzacoalcos port, was closed early Monday but opened later in the day. <br />
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Temporary closures of Pemex ports, usually during cold winter months and the hurricane season, rarely affect overall crude exports due to storage capacity. <br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Mexico's Foreign Reserves End 2010</span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"> At Record $113.6 Billion</span><br />
Mexico's foreign reserves rose by $22.6 billion in 2010 to end the year at a record $113.6 billion, bolstered by inflows from oil exports and the central bank's dollar purchases as the peso appreciated last year against the U.S. currency. <br />
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The Bank of Mexico said reserves rose by $601 million in the last week of the year as a result of dollars bought from the federal government and other transactions. <br />
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Higher-than expected oil prices in 2010 contributed to the rise in reserves as the Bank of Mexico changes dollars for state oil monopoly Petroleos Mexicanos. The central bank also bought about $4.6 billion from commercial banks under a system of put options that were designed to bolster reserves when the peso is appreciating against the dollar. <br />
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The Bank of Mexico sells $600 million in options each month, which can be exercised on days when the peso is stronger than its 20-day average. <br />
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Banks have already exercised $592 million of the $600 million in options for January, selling the dollars Monday as the peso rallied at the start of the year. The peso was recently quoted in Mexico at MXN12.2535 to the dollar, according to Infosel, compared with MXN12.3650 at the end of 2010. <br />
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Mexico's decision last month to request an extension and expansion to $73 billion from $48 billion of its flexible credit line with the International Monetary Fund was seen by some as a sign that it could consider lowering the amount of dollar options in 2011, since the reserve build carries a financial cost with domestic interest rates above those of U.S. Treasurys. <br />
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<b>MONDAY:</b></div>
<span style="font-size: x-large;">Mexico Stocks Start Year At Record High</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Mexico's stocks opened higher Monday, starting out 2011 as they ended 2010 by setting new records. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The market's IPC index of leading issues was up 0.8% at 38,859 points around 11:30 a.m. EST, adding to its record-high close last Friday. The IPC also set a new intraday high of 38,869 points. Volume was 38.4 million shares worth 1.06 billion pesos ($86.5 million). </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Bellwether America Movil L shares were up 0.8% to MXN35.76, cement maker Cemex CPO shares were gaining 2.5% to MXN13.50, and fixed-line phone company Telmex L shares were up 0.2% to MXN10.03. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Mexican state-owned oil company Petroleos Mexicanos, or Pemex, missed its own 2010 target for crude oil production, with December output averaging 2.573 million barrels a day, according to preliminary figures posted Monday on the company's website. In this year's federal budget, the crude production estimate is 2.55 million barrels a day, with 1.149 million barrels a day to be exported. The price estimate for 2011 used in the budget is $65.40.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"> In Pemex's preliminary report Monday, which covers the Dec. 1 to Dec. 31 period, production at the Ku-Maloob-Zapp offshore fields remained near record levels at 852,000 barrels a day. Cantarell output was steady at 467,000 barrels a day when compared with October and November. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The IPC rose 20% in 2010, and 27% in dollar terms as the peso appreciated against the dollar. Analysts expect more gains in 2011 as the economy continues to expand, helped by monetary and fiscal stimulus in the U.S., Mexico's main trading partner. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Vector brokerage set a target of 45,700 points for the IPC in 2011. "Given persistent high liquidity, low interest rates, and continued world economic recovery, the Mexican stock market again offers some interesting investment opportunities in 2011," Vector said in a report. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The peso, which gained 5.8% against the dollar in 2010, was stronger Monday, quoted in Mexico City at 12.2610, according to Infosel. The peso ended Friday at 12.3650, according to the central bank's closing reference price.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">ARGENTINA:</span><br />
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<b>THURSDAY:</b></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Argentina Stocks Ended Mixed Thursday</span><br />
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Argentine stocks and bonds closed mixed on Thursday with the Merval Index of leading shares closing virtually unchanged as selective profit-taking was offset by big gains in companies linked to agricultural commodities. The Merval Index closed just 0.03% lower at 3,603.44 points amid moderate volume of ARS114 million ($28 million). <br />
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Major sugar producer Ledesma S.A. (LEDE.BA) added to the big gains posted this week, climbing another 2.8% to ARS10.10. Ledesma shares are trading at a historic high, fueled by sky-rocketing international sugar prices, financial advisors Research For Traders said in a market note. <br />
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Grain exporter and food processor Molinos Rio de La Plata S.A. (MOLI.BA) also continued to climb due to high international commodity prices, rising 5.7% to ARS33.60. <br />
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Bonds posted mixed results as investors keep an eye on Argentina's efforts to reach a deal with the Paris Club of lending nations over the roughly $7.5 billion in defaulted debt owed stemming from Argentina's 2001 sovereign default. <br />
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The peso-denominated 2033 discount bond eased 0.7% in price terms to ARS191, to yield 7.1%. The dollar-denominated Global 2017, rose 0.1% in price terms to ARS417.10, with the yield at 8.1%. </div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY: </b></span></span></span><br />
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<span style="font-size: x-large;">Argentina Auto Manufacturing Record In 2010</span></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Argentina's car makers had a blockbuster year in 2010, with output setting a new record on the back of soaring domestic demand and exports to neighboring Brazil. <br />
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Vehicle production last year reached 724,023, up a whopping 41.2% on the year, the automobile manufacturer association Adefa reported Wednesday. </span></span></span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"><b><span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">MONDAY:</span></span></b><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Argentina Markets Start 2011 Higher Monday</span><br />
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Argentina began the year with heavy buying on Monday. The benchmark Merval stock index jumping 3% to close at 3,628.48 points. Volume was heavy at 105 million pesos ($26 million). </div>
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Banks fronted the gains on the Merval, with banking group Grupo Financiero Galicia (GGAL, GGAL.BA) rising 6.3% to ARS6.44, Banco Patagonia (BPATL, BPAT.BA) up 6.3% to ARS5.9%, and BBVA Banco Frances (BFR, FRAN.BA) closing 6.5% higher at ARS16.35. Banks are major holders of government bonds, which also rallied on Monday. <br />
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Pampa Energia (PAM, PAMP.BA), a holding company that owns electricity distribution and transmission assets, rose 0.7% to ARS2.78. Meanwhile, the country's biggest oil and gas company YPF (YPF, YPFD) rose 1.6% to ARS203.75, while phone company Telecom Argentina (TEO, TECO2) rose 1.8% to ARS20.35. <br />
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Bonds also posted big gains amid the global market rally. The peso-denominated 2033 discount bond jumped 2.7% in price terms to ARS192.50, to yield 7.1%. <br />
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The dollar-denominated Boden 2015, rose 0.7% in price terms to ARS391, with the yield at 8.1%. Tthe peso strengthened against the dollar, trading at ARS3.9750 compared to ARS 3.9775.</div>
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<span style="font-size: x-large;">COLUMBIA:</span></div>
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<b>MONDAY:</b></div>
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<span style="font-size: x-large;">Colombia's Stocks Declined Monday</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Colombian stocks declined Monday despite a rise in shares of oil firm Pacific Rubiales Energy Corp. (PEGFF, PRE.T), which as of Monday became the heaviest-weighted company in the Colombian Stock Exchange's main IGBC index. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The IGBC index of blue-chip stocks ended down 0.83% at 15,368 points. Trading extended to 4 p.m. local time for the first time Monday as part of an effort by the exchange to adhere to international standards and coincide with New York trading hours. Colombian stock trading used to close at 1 p.m. local time. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Pacific Rubiales, a Toronto-based energy producer whose main assets are in Colombia, saw its local shares gain 1.1% to COP63,900. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The company has been expanding rapidly in Colombia, developing oil fields in partnership with Colombia's state-run energy firm Ecopetrol SA (EC, ECOPETROL.BO), whose shares dropped 2.4% Monday to COP4,000. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The Colombian peso strengthened against the dollar for a third straight session, ending at COP1,893 for $1 from COP1,920 Thursday. The peso weakened sharply early last week, climbing above COP2,000 against the dollar for the first time in seven months. </span><br />
<br />
<br />
<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Colombian 2010 Tax Income Beats Target</span> <br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Colombia's tax authority DIAN said it collected 65.2 trillion Colombian pesos ($33.96 billion) in taxes last year, adding that more revenue from taxes on imports helped it exceed its target. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">DIAN said the 2010 figure is a 2.2% increase from last year's haul and that the total also beat the 2010 target collection of COP64.24 trillion. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">According to preliminary data, DIAN said it took in COP51.3 trillion in taxes domestically, while COP13.9 trillion were foreign, mostly in the form of tariffs and value-added taxes on imports. The foreign contribution was a 12.6% jump from 2009's collection of COP12.3 trillion, DIAN said.</span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Last week, the office of President Juan Manuel Santos announced plans to increase the number of people required to pay taxes on personal assets as a way to help pay for recovery efforts from the worst rainy seasons in years, which caused massive flooding and killed about 300 people.</span><br />
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<span style="font-size: x-large;">CHILE:</span></div>
<div style="font-family: Arial,Helvetica,sans-serif;">
<br />
<b>WEDNESDAY: </b><br />
<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Chile Stocks End At Record High Wednesday </span><br />
<br />
Chile's blue-chip Ipsa index ended at a record high Wednesday as monthly economic activity data came in well above expectations, and as growth in the construction sector jumped. <br />
<br />
The Ipsa ended 0.3% higher at 5040.97, while volume slipped to 142.5 billion Chilean pesos ($288.0 million) from CLP203.6 billion the prior session. <br />
<br />
As the Andean nation continues to recover from a 2009 recession and February's devastating earthquake, economic activity surged by a higher-than-expected 6.2% in November, the highest reading for 11th month of the year since 2004. <br />
<br />
Additionally, as Chile rebuilds from the earthquake and tsunami it spawned, growth in the construction sector gained 6.6% in November. <br />
<br />
Chile's largest construction company, SalfaCorp (SALFACORP.SN), which aims to more than double its sales to some $2.4 billion by 2013, from $1.1 billion in 2009, and to increase its international exposure in Peru and Colombia, rose 1.6% to CLP1,780.40. For its part, real-estate developer Socovesa (SOCOVESA.SN) gained 1.3% to CLP387.95. <br />
<br />
Banks, whose bottom lines are expected to benefit from rapid economic growth and strong consumer confidence, also posted gains. <br />
<br />
Within the sector, the nation's largest bank in terms of loans, Banco Santander Chile (SAN, BSANTANDE.SN), gained 1.7% to CLP43.65, and the second-largest bank, Banco de Chile (BCH, CHILE.SN) increased 1.5% to CLP72.95. <br />
<br />
After gaining 37.6% last year, the Ipsa is still expected to continue to rise in 2011 but at a more moderate pace. <br />
<br />
"Last year was exceptional. The Ipsa will definitely continue to rise, but not like it did last year. I seriously doubt that will happen. Strong economic growth and robust profits are already incorporated into many share prices," said Rodrigo Arriagada, trader with local brokerage Molina y Swett. <br />
<br />
Analysts see the Ipsa rising 10% to 12% by the end of the year to 5,500 to 5,600 points. <br />
<br />
The peso ended 1.4% weaker against the dollar as the central bank began its previously announced $12 billion currency market intervention program. The peso ended at CLP494.80 to the dollar compared with Tuesday's close of CLP487.80, while trading in a range of CLP490.50 to CLP495.30.<br />
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<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Chile Approves Strengthened</span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"> Power Transmission Grid</span><br />
<br />
Chilean authorities approved a record investment of $859 million to expand and revamp <br />
the transmission network of the nation's largest power grid, the SIC. <br />
<br />
Following a devastating earthquake in late February, which assailed central-southern Chile, the SIC grid suffered power outages, including two massive blackouts: one in the immediate aftermath of the quake and the other several days later. <br />
<br />
"There's a clear sign about the importance of developing the transmission network to improve security to the energy supply in this country and also to move forward in the connection of the power grids, with competitive prices," Energy Minister <br />
<br />
The government aims to have the nation's two largest power grids, the SING and SIC, interconnected by 2017. <br />
<br />
<br />
<br />
<b>TUESDAY:</b></div>
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<div style="font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;">Chile Stocks End Higher Tuesday</span></div>
<br />
Chile's blue-chip Ipsa index ended 1.3% higher Tuesday, as exporters got a boost from the central bank's planned purchase of $12 billion aimed at stemming the peso's appreciation. <br />
<br />
After settlement, the Ipsa was 1.2% higher on the day at 5024.66, just shy of a record high. Meanwhile, volume slipped to 203.6 billion Chilean pesos ($417.4 million) from CLP498.8 billion the prior session. <br />
<br />
The central bank's move to increase foreign currency reserves by $12 billion this year will help exporters, who have been sent reeling as the peso's appreciation in recent months cut into the competitiveness of their products abroad. <br />
<br />
Wine exporter and producer Vina Concha Y Toro (VCO, CONCHATOR.SN) jumped 1.8% to CLP1,150.00, while Coca-Cola bottler and beverage company Embotelladora Andina (AKOB, ANDINA-B.SN) gained 3.3% to CLP1,961.70. <br />
<br />
"A company like Concha y Toro sees sales in dollars and costs in pesos, so a move like this obviously benefits the company," said Ximena Garcia, deputy director of studies at local brokerage EuroAmerica. <br />
<br />
Commodities-related companies, which export the majority of their products, also posted gains. <br />
<br />
Fertilizer and specialty chemical producer SQM's (SQM) more liquid B-series (SQM-B.SN) advanced 1.0% to CLP27,963.00; integrated steel and iron-ore producer Cap (CAP.SN) gained 1.2% to CLP25,962.00; pulp and paper producer CMPC (CMPC.SN) rose 2.1% to CLP25,300.00; and fuel and forestry conglomerate Copec (COPEC.SN), the most heavily weighted share on the Ipsa, jumped 1.9% to CLP9,299.20. <br />
<br />
"A cheaper peso, helps exporters boost their bottom lines," said Rodrigo Mujica, analyst with local brokerage BCI Corridor de Bolsa. <br />
<br />
Construction and real-estate companies again posted strong gains on expectations that a ramping up of post-earthquake reconstruction activity this year will boost profits. <br />
<br />
Construction company Besalco (BESALCO.SN), which was incorporated into the Ipsa index on Monday, leaped 5.8% to CLP1,085.70, and real-estate developer Socovesa (SOCOVESA.SN) gained 2.8% to CLP383.06. <br />
<br />
The peso ended 4.8% weaker versus the dollar as the market digested the central bank's plans to intervene in the local currency market. <br />
<br />
The peso ended at CLP487.80 to the dollar, versus Monday's close of CLP465.40, which was a 32-month high. The local currency traded in a range of CLP482.70 to CLP490.50 <br />
<br />
The central bank's long-awaited intervention pulled the peso sharply lower. The intervention is "exceptional" and carries credibility, the central bank President Jose De Gregorio told reporters. <br />
<br />
In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended sharply higher after the central bank detailed plans to use $2 billion in short-term instruments and facilities and $10 billion in both peso-denominated and inflation-indexed bonds to "sterilize" its dollar purchases. <br />
<br />
The yield on five-year BCU bonds ended at 2.80%, up from 2.67% on Monday, while the yield on 10-year BCUs closed at 3.11%, up from 2.95% the previous session.<br />
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<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">CHILE UNVEILS $12 BILLION PESO INTERVENTION</span><br />
Chile's $12 billion local currency-market intervention won't pressure inflation upward as most local prices weren't adjusted to the strength the peso was showing against the dollar, Finance Minister Felipe Larrain said.<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Chile Stocks Close Higher Monday</span><br />
<br />
After rising 37.6% during 2010, Chile's blue-chip Ipsa index ended 0.8% higher Monday, in unusually heavy trading volume, as commodities-related and construction-sector companies surged. <br />
<br />
The Ipsa rose to 4967.51, while volume leapt to 498.8 billion Chilean pesos ($1.07 billion), compared with CLP373.1 billion the prior session. <br />
<br />
At the start of the year, just as in the last days of 2010, volume and share prices rose as investors shuffled their portfolios and bought stocks for accounting and tax purposes, traders said. <br />
<br />
Among commodities-related companies, fertilizer and specialty chemical producer SQM's (SQM) more liquid B-series (SQM-B.SN) jumped 4.4% to CLP27,700.00 after local investment bank BCI said the fertilizer producer's shares are one of its favorites for 2011. <br />
<br />
"The strong fundamentals of the global fertilizer market have been a catalyst for the [company's] shares. We believe [this] should continue as these fundamentals translate into higher prices for potassium-based fertilizers," BCI said in a note to clients. <br />
<br />
Also within the sector, integrated steel and iron ore producer Cap (CAP.SN) gained 2.9% to CLP25,660.00. <br />
<br />
Additionally, construction and real-estate companies posted strong gains on expectations that a ramping up of postearthquake reconstruction activity this year will boost profits. <br />
<br />
Construction company Besalco (BESALCO.SN), which was incorporated into the Ipsa index on Monday, increased 3.0% to CLP1,030.00, while rival SalfaCorp (SALFACORP.SN) grew 3.3% to CLP1,745.00, and real-estate developer Socovesa (SOCOVESA.SN) gained 1.4% to CLP372.00. <br />
<br />
The Ipsa is expected increase to between 5,400 and 5,500 points this year, as Chile's gross domestic product is forecast to expand between 5.5% and 6.5% on the year on the back of robust domestic demand, strong investments and reconstruction efforts. <br />
<br />
"Expectations for strong economic growth this year will continue to fuel the Ipsa's rise," said Hernan Guerrero, head of research with local brokerage BBVA Corredores de Bolsa. <br />
<br />
The peso ended at a 32-month high against the dollar as international copper prices hit a new record, bringing the local currency closer to levels expected to prompt central bank intervention. <br />
<br />
The peso finished stronger at CLP465.40 to the dollar compared with Thursday's close of CLP467.30, while trading in a range of CLP465.10 to CLP467.00. With the peso's 7.8% appreciation last year, exporters have demanded currency-market intervention as the strength of the local currency hurts their competitiveness abroad. <br />
<br />
The central bank recently said it doesn't rule out increasing its foreign-currency reserves as a way to limit the peso's recent strength. Traders see an increased risk of intervention if the peso appreciates to CLP450-CLP460. <br />
<br />
In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended higher in light over-the-counter trading. The yield on five-year BCU bonds ended at 2.67%, from 2.65% on Thursday, while the yield on 10-year BCUs closed at 2.95%, from 2.89%. </div>
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Markets and banks in Chile were closed Friday for the New Year's Eve holiday. </div>
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<span style="font-size: x-large;">PERU:</span><br />
<br />
<b>FRIDAY:</b><br />
<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Peru's Main Stock Indexes End Sharply Lower</span><br />
<br />
Peru's main stock market ended sharply lower Friday, as weaker mineral prices continued to drag down mining company shares. <br />
<br />
The Lima Stock Exchange's broad General index closed lower by 1.61%, at 22,928.86. <br />
<br />
The Selective blue-chip index ended weaker by 1.93% at 31,298.59. <br />
<br />
Base metals miner Southern Copper Corp. (SCCO) decreased 1.85% to end at $46.72, as the price of copper weakened. Copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) lost 8.33% at end at $49.50. Silver and lead miner Volcan Compania Minera SAA (VOLCABC1.VL) fell 0.78% to end at 3.80 soles, ($1.36) in heavy volumes. Financial holding Credicorp Ltd. (BAP) declined 4.37% to end at $113.32. It owns Banco de Credito, Peru's largest bank. The sol ended slightly stronger at PEN2.804 per dollar. The sol ended the previous session at PEN2.805 per dollar.<br />
<br />
<br />
<b>THURSDAY:</b><br />
<br />
<span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">Peru's Main Stock Indexes End Lower</span></span><br />
<br />
Peru's main stock market ended lower Thursday, as a number of key mining companies fell due to weaker mineral prices. The Lima Stock Exchange's broad general index closed lower by 0.81%, at 23,305.04. <br />
<br />
The blue-chip index ended weaker by 0.99% at 31,914.21. <br />
<br />
Precious metals miner Compania de Minas Buenaventura SAA (BVN, BUENAVC1.Vl) lost 2.58% to end at $45.30 as the price of gold eased. <br />
<br />
Silver and lead miner Volcan Compania Minera SAA (VOLCABC1.VL) fell 1.03% to end at 3.83 soles, ($1.37) in heavy volumes. <br />
<br />
Base metals miner Southern Copper Corp. (SCCO) decreased 2.06% to end at $47.60, as the price of copper weakened. Copper miner Sociedad Minera Cerro Verde SAA(CVERDEC1.VL) lost 3.04% at end at $45.30. The sol ended slightly weaker at PEN2.805 per dollar. The sol ended the previous session at PEN2.803 per dollar.<br />
<br />
<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Peru's Central Bank Increases </span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Interest Rate To 3.25%</span><br />
<i><b>The central bank aims to keep inflation within a target range of 1.0% to 3.0%</b></i>. <br />
<br />
The Central Reserve Bank of Peru on Thursday increased its reference interest rate by 25 basis points to 3.25%. In a statement, the central bank's board of directors said the policy rate increase was "preventive." <br />
<br />
They said the increase took place due to dynamic domestic demand, "in a scenario of increases in the international prices for food and energy." "This measure seeks to avoid that inflationary expectations are influenced by supply factors," the central bank added. <br />
<br />
The central bank said that future movements in its reference rate will be tied to new information about inflation and its determinants. Inflation remains subdued in Peru, with the national statistics agency reporting that Peru's benchmark consumer price index rose 0.18% in December from the previous month, bringing the annual increase in inflation in 2010 to 2.08%. <br />
<br />
In September last year, the central bank increased its reference interest rate by 50 basis points to 3.0%, the fifth consecutive monthly increase. The key policy rate had hit a historic low of 1.25%. <br />
<br />
<br />
<br />
<b>WEDNESDAY: </b><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Peru's Main Indexes End Higher Wednesday</span><br />
<br />
Peru's main stock market ended slightly higher Wednesday as some blue-chip mining companies gained ground. The Lima Stock Exchange's broad General index closed higher by 0.02%, at 23495.61. The Selective blue-chip index ended stronger by 0.38% at 32233.26. <br />
<br />
Precious metals miner Compania de Minas Buenaventura SAA (BVN, BUENAVC1.Vl) gained 0.22% to end at $46.50. <br />
<br />
Silver and lead miner compania Minera Volcan SAA (VOLCABC1.VL) gained 1.04% to end at 3.87 soles, ($1.38) in heavy volume. Going the other way was base metals miner Southern Copper Corp. (SCCO, SCCO.VL), which decreased 0.25% to end at $48.60, as the price of copper weakened. <br />
<br />
The sol ended unchanged at PEN2.803 per dollar. The Central Reserve Bank of Peru noted in a statement Wednesday that the sol had its 20th anniversary on Jan. 3. <br />
<br />
<br />
<b>MONDAY:</b></div>
<div style="font-family: Arial,Helvetica,sans-serif;">
<br />
<div style="font-family: Times,"Times New Roman",serif;">
<span style="font-size: x-large;">Peru's Main Stocks Close Higher Monday</span></div>
The Lima stock market continued where it left off last year, when its broad General Index gained 65%. On Monday, rising mining companies, boosted by climbing mineral prices, continued to lift the overall indexes. <br />
<br />
The Lima Stock Exchange's broad General index closed higher by 0.95% at 23,595.62. That is just off of its record high of 23,789.75, reached in July 2007 <br />
<br />
On Monday, the Selective blue-chip index ended stronger by 1.29% at 32,464.52. <br />
<br />
Base metals miner Southern Copper Corp.(SCCO) increased 1.36% to end at $49.80, while copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) rose 3.51% at end at $56 as copper prices improved. <br />
<br />
Silver and lead miner Compania Minera Volcan SAA (VOLCABC1.VL) gained 1.30% to end at 3.89 soles ($1.39) in heavy trade. <br />
<br />
Financial holding company Credicorp Ltd. (BAP) rose 2.24% to end at $121.15. It owns Peru's largest bank, Banco de Credito. <br />
<br />
The sol ended slightly stronger at PEN2.802 per dollar. In the previous session it closed at PEN2.807 per dollar.<br />
<br />
<br />
<br />
<span style="font-size: x-large;">VENEZUELA:</span><br />
<br />
<b>WEDNESDAY:</b><br />
<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Venezuela Takes Over Banvalor</span><br />
<br />
Venezuelan officials said Wednesday they took over Banvalor, a small bank in financial troubles, amid growing efforts to increase state control in the sector. The state banking regulator known as Sudeban cited "fragilities" in Banvalor that justified the takeover. <br />
<br />
The Venezuelan state already owns about 25% of the banking system due in part to a series of government takeovers of financially troubled banks. Venezuela's legislature approved a law last month increasing state control over the banking system in what the opposition warned was a prelude to nationalization. <br />
<br />
The law strengthens the power of the superintendence of banks "to control and apply sanctions against the institutions and persons that form part of the (financial) sector." It declares the banking system a public utility, places limits on the formation of financial groups and bars banks from having an interest in brokerage firms or insurance companies.<br />
<br />
<br />
<br /></div>
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____________________________________________________________<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">European Markets:</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>FRIDAY:</b> </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY</b>: EURO STOXX 50 2,834.48 +0.74 (0.03%) </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The euro zone's private sector grew at a steady pace in December, with growth in Germany and France offsetting weakness in debt-laden Spain and Ireland. Meanwhile, factory orders and factory-gate prices in the euro zone rose. </span><br />
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</span><br />
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CENTRAL EUROPE FACES PRICE PRESSURES<br />
Poland's central-bank governor hinted that interest rates could start climbing here soon, while Romania held rates steady as central bankers across the region weigh the contrasting risks posed to their countries' fragile economies by hot money and mounting inflation.</div>
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<br /></div>
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Greece will have no problems repaying private holders of its bonds, thanks to its vigorous debt-reduction efforts, structural reforms and the financial support provided by the EU and the IMF, the country's prime minister said. </div>
<br />
<br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif;">WEDNESDAY:</span></b><b style="font-family: Arial,Helvetica,sans-serif;"> </b><span style="font-family: "arial" , "helvetica" , sans-serif;">EURO STOXX 50 2,819.55 -24.62 (-0.87%)</span><b><br />
</b><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">European stock markets dropped Wednesday, giving back some of the gains they made in the previous two sessions, with Germany's DAX index falling 0.9% and the broad Stoxx Europe 600 index shedding 0.3% in intraday action. </span><br />
<br />
<br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif;">TUESDAY:</span></b><b style="font-family: Arial,Helvetica,sans-serif;"> </b><span style="font-family: "arial" , "helvetica" , sans-serif;">EURO STOXX 50 2,861.54 +22.11 (0.78%)</span><b><br />
</b><br />
<span style="font-size: x-large;">EURO-ZONE INFLATION THREATENS ECONOMY</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Annual euro-zone inflation rose to 2.2% in December from 1.9% in November, Eurostat data showed Tuesday. That was above the ECB's target of below, but close to 2% for the first time since late 2008. The euro zone's first batch of economic data in 2011 had more negatives than positives, providing a sharp reminder of the delicate balance between supporting growth and keeping inflation in check, Geoffrey Smith writes. Though most economists still predict that the ECB won't raise rates before 2012, rising inflation across the euro zone, if continued, could prompt them to hike interest rates earlier than currently expected, Nina Koeppen writes. </span><br />
<br />
<br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif;">MONDAY:</span></b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Euro edges up vs. dollar in a thin market and on solid U.S. manufacturing data. </span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">EURO ZONE'S MANUFACTURING EXPANSION GATHERS PACE</span><br />
Activity in the euro zone's manufacturing sector increases more rapidly than first estimated in December, with factories in Spain and Ireland starting to catch up with those in Germany and France.<br />
</span><br />
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<span style="font-size: x-large;">UK - United Kingdom:</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>FRIDAY:</b> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">FTSE 100 5984.33 -35.18 -0.58%</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">FTSE 100 5984.33 -35.18 -0.58%<br />
FTSE 250 11674.35 -42.52 -0.36%<br />
DJ UK Smaller Companies 986.81 -0.52 -0.05%<br />
<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">London Stocks End Lower Friday</span> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">FTSE 100 finishes down, 0.6% lower at 5984.33. However, it should be noted that overall, the FTSE 100 has a positive week, ending +1.4%. There are no economic data for the UK on Monday. Investors will be looking forward to the Bank of England rate announcement on Thursday. </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">New-Car Registrations Climb In 2010</span><br />
U.K. new-car registrations in 2010 rose 1.8% from 2009, but are expected to shrink 5% this year as tough market conditions persist.<br />
<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: large;">UK PM Cameron To Meet Executives</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;"> To Boost Job Creation Monday</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">U.K. Prime Minister David Cameron will hold talks with business leaders Monday in an effort to boost job creation as he looks to kick-start a private sector-led economic recovery, a Downing Street spokesman said Friday. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">THURSDAY:</span><b><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span></b><span style="font-family: "arial" , "helvetica" , sans-serif;">FTSE 100 6,014.61 -29.25 (-0.48%)</span><b><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span></b><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">FTSE Closes Lower Thursday</span><br />
FTSE 100 6019.51 -24.35 -0.40%<br />
FTSE 250 11716.87 -24.70 -0.21%<br />
DJ UK Smaller Companies 987.32 -4.32 -0.44%<br />
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Much of the session's focus is on ARM Holdings and BP. ARM soars, ending the session +2.3% after Microsoft confirms it will use ARM chips in the next Windows operating system. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">BP finishes 0.5% lower. Traders still feel any gross negligence in the Macondo incident cannot be proved but at this stage, they think it looks a bit pricey. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">U.K. Chancellor of the Exchequer George Osborne Thursday said he remains confident in the U.K. economy despite data showing a surprise contraction in the services sector in December.</span><br />
<span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;">UK Mortgage Demand "Fell Markedly" In 4Q</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">U.K. mortgage demand fell "markedly" in the three months to December and is likely to drop further in the current quarter, a Bank of England survey released Thursday found.</span><br />
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<span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;">U.K. Adverse Weather Claims</span><br />
<span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;"> More Retail Victims </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Severe U.K. snowfall in the run-up to Christmas claimed two more retailers as victims Thursday, as both Clinton Cards PLC (CC.LN) and Mothercare PLC (MTC.LN) said they will miss full-year earnings expectations because of sluggish festive sales.</span><br />
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<span style="font-size: x-large;">British Airways Estimates Cost Of Disruption</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">U.K. flag carrier British Airways PLC (BAY.LN) Thursday said heavy snowfall that forced the cancellation of some flights last month will cost the airline about GBP50 million.</span><br />
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<span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;">Rolls-Royce And Airbus </span><br />
<span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;">Win Orders In Wake Of Blowout </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">In a sign of confidence following the high-profile engine blowout on a super jumbo jet late last year, plane manufacturer Airbus and engine maker Roll-Royce Group PLC (RR.LN) Thursday announced new orders for A380 aircraft and Trent 900 engines potentially worth about $7 billion.</span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">WEDNESDAY: </span></b><span style="font-family: "arial" , "helvetica" , sans-serif;">FTSE 100 6043.86 +29.99 +0.50%</span><b style="font-family: Arial,Helvetica,sans-serif;"> </b><br />
<b style="font-family: Arial,Helvetica,sans-serif;"> </b><span style="font-family: "arial" , "helvetica" , sans-serif;"></span><br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">FTSE Ends Higher Wednesday</span><span style="font-family: "arial" , "helvetica" , sans-serif;">London's FTSE 100 ends +0.5% at 6043.86, managing a positive finish despite spending most of the session in negative territory. The better-than-expected US ADP employment survey helps the index off lows .</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">FTSE 100 6043.86 +29.99 +0.50%</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">FTSE 250 11741.57 +19.01 +0.16%</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">DJ UK Smaller Companies 991.63 -0.47 -0.05%</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><u>Wednesday Economic Reports:</u> UK CIPS construction PMI is at 0930 GMT. </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The ADP employment survey at 1315 GMT will be of interest to investors. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">UK Business Confidence Hit </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">By Domestic Demand </span><br />
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Fears-Survey U.K. businesses are less confident about the outlook for the next six months than they were in mid-2010 due to renewed fears about domestic demand, but the economy should avoid slipping back into recession, Lloyds TSB Commercial said Wednesday.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">UK Company Administrations Decline, </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">But Many More At Risk </span><br />
The number of U.K. companies going into administration declined 35% in 2010 compared with the previous year, but continued economic weakness means many more are still at risk,<br />
professional services firm Deloitte LLP said Wednesday.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">LME Lists Malay Warehouse; </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Receives Request For Aluminum Brand</span> <br />
The London Metal Exchange Wednesday said it has listed a new warehouse in Malaysia, and has also received an application from a Malaysian producer to list a new aluminum brand. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">ARM Holdings Rises On Takeover Talk</span> <br />
ARM Holdings (ARM.LN) shares up 1.9% at 446p, bucking the overall downward trend amid reports the company may be the subject of a takeover bid, with Intel Corp (INTC) mooted as the potential purchaser. At the same time, a trader notes talk that Microsoft (MSFT) will reveal a new version of Windows Thursday at the Consumer Electronics Show in Las Vegas, that uses ARM Holdings' microprocessors rather than Intel's. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Waitrose To Double Rate of </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Store Expansion In 2011 </span><br />
Upmarket Waitrose plans to open 39 new stores this year as U.K. grocers continue their push into the convenience store space. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Tuesday Reports:</b> U.K. Chancellor of the Exchequer George Osborne defended the rise in the sales tax rate that takes effect Tuesday and said the government had no hidden plans to introduce further tax increases to fix public finances. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Bank of England's preferred measure of broad money supply picked up in November although the pace of growth remained weak, underscoring the likelihood that the central bank will keep policy on hold for some time.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">UK Year-Ahead CPI Expectations High</span><br />
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U.K. public inflation expectations for the year ahead rose to a two-year high in the last month of 2010, as price growth remained at elevated levels, a survey by Citi and pollsters YouGov showed Tuesday.</div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">UK Manufacturing PMI Hits 16-Year High </span><br />
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The U.K.'s manufacturing sector expanded at the fastest rate for more than 16 years in December, which bodes well for a continuation of the manufacturing-led economic recovery, data showed Tuesday. </div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">UK Mortgage Approvals Rise</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">The number of mortgages approved for house purchases in the U.K. rose unexpectedly in November, but consumer credit was weaker than expected, data from the Bank of England showed Tuesday.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>M&A News: </b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Oberthur, a maker of banknotes and smart-card technologies, Tuesday sought reassurances from acquisition target De La Rue PLC (DLAR.LN) about the impact on its business and reputation of embarrassing paper-production irregularities that hurt its operations last year. <br />
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In spite of its concerns, Oberthur signaled it remained interested in buying the world's largest printer of banknote paper. <br />
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Oberthur said in a statement to the London Stock Exchange that it believed De La Rue's commercial relationship with a principal international customer had been "materially impaired" as a result of the production problems, and that the customer hadn't invited the company to participate in a recent tender. Oberthur said it believed the customer to be India's central bank, the Reserve Bank of India. <br />
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The privately held French company said it believed that it was important for De La Rue to "provide a full update to its shareholders as to its realistic prospects of obtaining new business from this very important customer." <br />
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It added that it believed De La Rue's reputation had been damaged by the production issues and that its ability to win new contracts and retain existing customers had been undermined. <br />
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<span style="font-size: x-large;">GERMANY:</span></div>
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<b> FRIDAY:</b><br />
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<b>German Chancellor signing $8.7 billion in deals with China</b><br />
<span style="font-size: small;">China's Vice Premier pledges to improve business conditions for foreign firms during a bilateral meeting with the German Chancellor and begins signing $8.7 billion in deals with German companies.</span><b> </b><br />
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<b>THURSDAY:</b> <span id="articleText">Germany's DAX gained 0.6 percent</span> <br />
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<span id="articleText">German carmaker Daimler (<span id="symbol_DAIGn.DE_12">DAIGn.DE</span>) rose 1.9 percent after government sources said the automaker and Volkswagen (<span id="symbol_VOWG_p.DE_13">VOWG_p.DE</span>) would sign deals totaling $5 billion at a meeting with Chinese Vice Premier Li Keqiang on Friday.</span> <br />
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<span style="font-size: x-large;">Germany Closes More Than </span></div>
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<span style="font-size: x-large;">4,700 Farms After Dioxin Scare</span></div>
Germany's agriculture ministry Thursday said it had ordered the closure of 4,709 farms across the country following a scare over dioxin contamination. <br />
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<b>WEDNESDAY: </b>The German DAX 30 index fell 0.5% to close at 6,939.82<br />
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Shares of Heidelberg Cement AG losing 3.4% and auto group Volkswagen AG declining 2.6%. Retailer Metro AG fell 4.1% in a sector that was particularly weak across Europe. <br />
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<b>MONDAY:</b><b> </b></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Fresenius Medical Care AG & Co. KGaA (FMC) said Tuesday it will purchase Euromedic International's dialysis service operations for EUR485 million.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: large;">MUNICH RE PUTS GLOBAL CATASTROPHE COSTS AT $130B</span><br />
Reinsurance firm estimates that major global catastrophes in 2010 resulted in overall losses of about $130 billion, putting 2010 among the six most loss-intensive years for the insurance industry since 1980, by the company's estimate.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">FRANCE:</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY: </b> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">France's CAC 40 3,900.83 -3.78 (-0.10%) </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The French anti-trust watchdog's advisory council is to meet Thursday to study a plan by the majority-shareholding family of Hermes International SCA (RMS.FR) that would prevent a hostile takeover of the luxury group, according to a source familiar with the matter.</span><br />
<span style="font-size: x-large;"><br style="font-family: Georgia,"Times New Roman",serif;" /><span style="font-family: "georgia" , "times new roman" , serif;">RENAULT VEHICLE SPYING</span></span><br />
<span style="font-size: x-large;"><span style="font-family: "georgia" , "times new roman" , serif;"> THREATENS STRATEGIC ASSETS</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">A case of corporate espionage in electric vehicles at Renault , which has led to the suspension of three managers, was serious enough to "threaten strategic assets," the car maker says.</span><br />
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<span style="font-family: "georgia" , "times new roman" , serif; font-size: x-large;">PEUGEOT-CITROEN POSTS SALES RECORD; OPEN TO ALLIANCES</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Peugeot-Citroen sells a record 3.6 million vehicles in 2010, helped by a boost through government incentives, and Chief Executive Philippe Varin says France's largest car maker remains open to equity alliances with other automakers.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">NETHERLANDS:</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> <br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>FRIDAY: </b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Tata Steel Europe, a unit of India's Tata Steel Ltd (500470.BY), declared force majeure on a series of strip products made at the company's Netherlands-based IJmuiden steel plant, a person familiar with the matter said Friday. <br />
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The force majeure was declared in response to a fire that broke out on the smallest of IJmuiden's three pickling lines on Dec 27. <br />
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He confirmed that the force majeure would apply to products such as cold reduced coil, pickled and oiled, and hot-dip galvanized coil but noted that deliveries to customers aren't expected to be materially disrupted. <br />
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Tata Steel Europe has other pickling lines at IJmuiden and within Europe from which it can source additional products to meet customer orders.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">BELGIUM: </span><br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif;">FRIDAY:</span></b><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Belgium Budget Deficit Lower Than Expected</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Belgium's caretaker government will announce a final 2010 budget deficit that is below its current target, a government official said Friday. <br />
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"The numbers will be better than expected by a significant margin," the official said. "On a federal level, the reduction is better than planned." <br />
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Local news agency Belga reported, without citing sources, that the federal budget deficit for 2010 would be 3.5% of gross domestic product, compared with the 3.8% target in Belgium's stability plan. <br />
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The larger-than-expected reduction in the deficit could reassure holders of Belgian sovereign debt, who are increasingly concerned about the country's debt-to-GDP ratio, the third highest in the euro zone. <br />
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Johan Vande Lanotte resigned Thursday as mediator of talks between Belgium's two main language groups, prolonging the deadlock in coalition negotiations that has left the country without a government since elections in June. <br />
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The spread between 10-year government debt for Belgium and Germany was at 127 basis points late Friday, 12 basis points wider than Thursday, according to Tradeweb. This is still below highs of over 150 in November during the worst days of the European debt crisis. <br />
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While the political situation is very complex, all the parties involved in the talks are "well aware" that they "can't get it wrong in terms of market pressure," to form a government and propose a budget, the official said, adding that the country's debt levels would only increase slightly and by less than European peers. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">IRELAND:</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>FRIDAY:</b> Dublin Stocks: ISEQ Ends Flat At 2,871</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">THURSDAY: Dublin Stocks: ISEQ Ending Flat at 2,868</span><br />
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<span style="font-size: x-large;">SPAIN:</span></div>
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<b>WEDNESDAY:</b><br />
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Spanish stocks were under the most pressure on Wednesday. A Markit Spain Services PMI survey reported business activity decreased at its fastest pace in 12 months during December, with new business down for a sixth month. <br />
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"The macro is still driving the markets and so they will for a period of time," said one trader in Madrid who asked not to be named. <br />
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Shares of BBVA SA fell 1.3%, with the banking heavyweight dragging the Spanish IBEX 35 index down 0.9%. <br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">SPAIN SELLS ASSETS TO CHINA </span><br />
Financially troubled Spain signed more than a dozen business accords Wednesday with China, a welcome boost for its recession-battered economy.<br />
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The deals involving the banking, energy, transport and telecommunications companies were signed after Prime Minister Jose Luis Rodriguez Zapatero met with China's Vice Premier Li Keqiang on Wednesday. Other deals involved the wine, cured ham and olive oil sectors.<br />
State-owned Spanish National Radio and other media outlets said the deals were valued at some euro5.6 billion (US$7.5 billion).</div>
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Spain's connections with China have been growing since the countries signed a strategic association during a visit by President Hu Jintao in 2005. </div>
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Earlier this week, Li wrote in Spanish daily El Pais that China was confident Spain would emerge from the economic crisis and added that it would continue to buy the country's public debt as a show of support.<br />
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The visit was important for Spain, which is emerging from nearly two years of recession with a eurozone high unemployment rate of 20 per cent and a massive deficit.<br />
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Li later met with King Juan Carlos and Foreign Minister Trinidad Jimenez. The vice-premier started of the day with a breakfast with some 100 business leaders from both countries.<br />
On Tuesday, he met with Finance Minister Elena Salgado and Industry Minister Miguel Sebastian. A finance ministry statement said the two had discussed bilateral relations and the economic situation on in Spain, the European Union and China.<br />
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<b>TUESDAY:</b></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;">On Tuesday, BBVA sold EUR1.5 billion in covered bonds at a much higher yield than its European rivals. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Construction company Actividades de Construccion y Servicios SA (ACS.MC) Tuesday said it has secured 30.34% of the voting rights in Hochtief AG (HOT.XE), allowing it to buy additional shares of the German builder on the stock market at its discretion.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">SPAIN'S 2010 BUDGET DEFICIT BELOW TARGET</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Spain succeeds in lowering its budget deficit for 2010 to just under the government's 9.3% target, Prime Minister Jose Luis Rodriguez Zapatero says, adding Spain will meet its 2011 target for a budget deficit of 6% of gross domestic product.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">____________________________________________________________<br />
<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Asian Pacific Markets:</span></span><br />
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Asian stocks slid on Wednesday following a broad commodities sell-off but the U.S. dollar edged higher after stronger-than expected U.S. factory data offered further evidence of an economic recovery.</div>
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Oil fell for a second day as investors took profits from a sharp year-end rally. Gold inched up, though, after sinking more than 2 percent in the previous session.</div>
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The fall in commodities to their lowest level in seven weeks weighed on shares of resource companies in early Asia trade, although market analysts said it was likely to have a limited impact.</div>
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<span style="font-size: x-large;">CHINA:</span> <b> </b></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY:</b>Shanghai 2,824.20 -14.40 (-0.51%)<b> </b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Hang Seng Index 23,786.30 +28.48 (0.12%)</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY: </b>Shanghai 2,842.87 -9.77 (-0.34%) <b> </b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Hang Seng Index 23,615.39 -53.09 (-0.22%)</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY:</b>Shanghai 2,852.65 +44.57 (1.59%) <b><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Hang Seng Index 23,668.48 +232.43 (0.99%) <b><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>MONDAY</b>:Shanghai 2,808.08 +48.50 (1.76%) </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Hang Seng Index 23,436.05 +400.60 (1.74%) </span><br />
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<b>THURSDAY MARKET NEWS:</b></div>
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<span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;">CHINA WILL GIVE HIGHER</span></span><br />
<span style="font-size: x-large;"><span style="font-family: "times" , "times new roman" , serif;"> PRIORITY TO CURBING INFLATION</span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">China's central bank will give a higher priority to curbing inflation in 2011, the People's Bank of China says, boosting expectations that it will adopt more tightening measures, such as raising interest rates.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">CHINA TAKES LARGER EU POSITION </span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">China has been increasing its holdings of EU countries' debt, including Spanish government debt, since the outbreak of the European sovereign debt crisis, China's vice commerce minister said. </span><br />
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<b>WEDNESDAY MARKET NEWS</b>:</div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">China Eastern: Expect Increase In Net Profit</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Hong Kong-listed China Eastern Airlines Corp. said Tuesday it expects its 2010 net profit to be around 10 times that of a year earlier, partly due to a rapid recovery in global air traffic demand.</span><br />
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<b>TUESDAY </b><span style="font-family: "arial" , "helvetica" , sans-serif;"> MARKET NEWS</span><b>:</b></div>
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China's economic planning agency unveiled rules to prevent price collusion and monopolistic pricing practices, giving the government more tools to rein in inflation pressures.</div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">MONDAY</span></b><span style="font-family: "arial" , "helvetica" , sans-serif;"> MARKET NEWS</span><b><span style="font-family: "arial" , "helvetica" , sans-serif;"> :</span></b><br />
<span style="font-size: x-large;">Chinese PMI Falls in December</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Manufacturing growth slowed in December because of a tighter monetary policy and the closure of energy-wasting and highly polluting factories.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A purchasing managers’ index fell to 53.9 from 55.2 in November, China’s logistics federation and the statistics bureau said Jan. 1. Manufacturers’ input costs rose at a slower pace, the report showed.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Premier Wen Jiabao is seeking to limit bank lending and inflows of capital that could fuel inflation after a record expansion in credit drove the nation’s recovery. The central bank raised interest rates on Christmas Day and, six days later, the currency regulator said it was expanding a program to let exporters keep revenue overseas</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Growth slowed for the first time in five months and the reading was less than any of 13 analysts’ estimates in a Bloomberg News survey. Their median forecast was 55. In contrast, a non-manufacturing PMI rose in December from November’s level, a separate logistics federation report showed today.<br />
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Inflation Forecasts<br />
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December’s annual inflation rate probably fell from November’s 5.1 percent, a 28-month high, according to economists at Bank of America-Merrill Lynch and China International Capital Corp. CICC estimates consumer prices rose 4.5 percent last month from a year earlier, while Merrill’s forecast is 4.8 percent.<br />
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A higher base for comparison may have helped to pare December’s increase. Credit Suisse Group AG. cautioned today that inflation may surge back to exceed 6 percent by mid-year “after a brief pause over the next two to three months.”<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">CHINA EASES CAPITAL CONTROLS ON EXPORTERS</span><br />
China eases capital controls on exporters' foreign-currency earnings, a move that over time could damp inflationary pressures and slow growth in its massive foreign-exchange reserves. </span><br />
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<span style="font-size: large;">HONG KONG - Hutchison Whampoa Ltd. to buy </span></div>
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<span style="font-size: large;">China Resources (Holding) Co. Assets</span></div>
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Hutchison Whampoa Ltd., a conglomerate forming part of billionaire Li Ka-shing's business empire, which surged 5.2 per cent after it announced the purchase of assets from China Resources (Holding) Co. in a deal worth 5.7 billion Hong Kong dollars ($733 million).<br />
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<span style="font-size: x-large;">JAPAN:</span></div>
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<tr><td style="text-align: center;"><a href="http://ichart.finance.yahoo.com/instrument/1.0/%5EN225/chart;range=1d/image;size=239x110?lang=en-US&region=US" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="http://ichart.finance.yahoo.com/instrument/1.0/%5EN225/chart;range=1d/image;size=239x110?lang=en-US&region=US" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-size: small;"><b>NIKKEI 225 INDEX</b></span></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY:</b>Nikkei 225 10,529.76 +148.99 (1.44%) <b><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY:</b>Nikkei 225 10,380.77 -17.33 (-0.17%)</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY:</b> Nikkei 225 10,398.10 +169.18 (1.65%) </span><br />
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<span style="font-size: x-large;">JAPAN'S KAN URGES TALKS</span><br />
<span style="font-size: x-large;"> ON RAISING TAX</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Japanese Prime Minister Naoto Kan said he wants to begin talks with the country's opposition parties on raising the nation's consumption tax, in a move that could further erode public approval of the government.</span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">SINGAPORE:</span></span><br />
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<b>MONDAY: </b></div>
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<span style="font-size: x-large;">Singapore Economy Had Record Expansion in 2010</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Singapore's economy expanded at a record rate in 2010, driven by a surge in manufacturing activity.The economy grew by 14.7% last year, rebounding strongly from a 1.3% contraction the previous year.Singapore's growth surpasses the previous record of 13.8% set in 1970, although Prime Minister Lee Hsien Loong said the pace would slow in 2011.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The economy expanded by 12.5% in the fourth quarter, helped by a 28.2% growth in the manufacturing sector.According to figures from the International Monetary Fund, only Qatar had faster growth, at 16%.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Singapore's GDP, valued at 247.33bn Singapore dollars ($191bn; £123.7bn) in 2009, is very dependent on external trade and exposed to changes in the global economy.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Its GDP shrank 1.3% in 2009 because of the global downturn when demand from the United States and other developed economies collapsed.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The services sector, which accounts for 65% of Singapore's GDP, grew 8.8% in the fourth quarter of 2010.</span><br />
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<span style="font-size: x-large;">SOUTH KOREA:</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY: </b></span><span style="font-family: "arial" , "helvetica" , sans-serif;">South Korea's KOSPI Composite Index</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif;"><b> </b>2,077.61 +(16.74)<b> </b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY:</b> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">South Korea's KOSPI Composite Index</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">2,078.10 Down 7.04 (0.34%)</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY:</b> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">South Korea's KOSPI Composite Index</span><span style="font-family: "arial" , "helvetica" , sans-serif;"> 2,085.14 Up 12.06</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>MONDAY:</b> </span><span style="font-family: "arial" , "helvetica" , sans-serif;">South Korea's KOSPI Composite Index 2,070.08 Up 19.08 (0.93%)</span><br />
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<b>WEDNESDAY </b><span style="font-family: "arial" , "helvetica" , sans-serif;"> MARKET NEWS</span><b>:</b></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Samsung Group Announces Hiring Plans for 2011 </span></div>
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Samsung Group has announced record investment and hiring plans for this year as it seeks to strengthen international dominance of its mainstream businesses and develop new ones. </div>
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South Korea's biggest business conglomerate said Wednesday in a statement that it will invest slightly over 43 trillion won ($38.3 billion) in 2011 for an increase of 18 per cent over last year.</div>
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Samsung also said that it will hire 25,000 people for a gain of 11 per cent over 2010.</div>
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The statement said both figures are all-time highs.</div>
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Samsung Electronics Co. is the group's flagship corporation. The conglomerate also consists of dozens of other businesses covering a broad array of sectors including shipbuilding, construction, leisure and finance.</div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">MONDAY </span></b><span style="font-family: "arial" , "helvetica" , sans-serif;"> MARKET NEWS</span><b><span style="font-family: "arial" , "helvetica" , sans-serif;">:</span></b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">Hyundai Motor Co., South Korea's No. 1 car maker by sales, is targeting to produce and sell 6.33 million units in global markets in 2011, up 10% from a year earlier, the company's chairman said Monday.<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">NORTH KOREA:</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">N Korea Calls For 'Unconditional' Talks With South</span><br />
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SEOUL (AFP) -- North Korea proposed "unconditional and early" talks with the South Wednesday to mend battered cross-border ties, as a top U.S. envoy arrived in Beijing for meetings on the Korean peninsula crisis. <br />
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In an unusually conciliatory statement carried by its KCNA agency, Pyongyang said the communist nation "courteously propose having wide-ranging dialogue and negotiations" with South Korea. <br />
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"In order to mend the north-south relations now at the lowest ebb we will conduct positive dialogue and negotiations<br />
.. be they authorities or civilians, ruling parties or opposition parties, progressives or conservatives," said the statement. <br />
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It said Pyongyang is "ready to meet anyone anytime anywhere" and called for "unconditional and early opening of talks" among officials with "real power and responsibility," it said. <br />
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The move from Pyongyang came two days after South Korean President Lee Myung-Bak reached out to the North, offering closer economic ties if it changes its course. <br />
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In his New Year policy address, delivered after Pyongyang called for improved relations in 2011, Lee said the door for talks was "still open" if North Korea shows sincerity to mend ties. <br />
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Relations between the two Koreas were stretched to breaking point after the North shelled a South Korean island on the disputed border in November, killing four people, including two civilians. <br />
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The South has since staged a series of military exercises, including a live-fire drill on Dec. 20 on the island, but the North didn't follow through with threats of a new and deadlier attack. <br />
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Earlier on Wednesday the chief U.S. envoy on North Korea arrived in Beijing to hold talks with Pyongyang's main ally China, after a visit to Seoul focused on reducing frictions on the peninsula. <br />
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Stephen Bosworth's three-nation tour comes six weeks after the North shelled the frontier island of Yeonpyeong, killing four South Koreans, including two civilians, and sending tensions in the region to their highest level in years. <br />
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The U.S. embassy in Beijing said Bosworth had arrived in Beijing Wednesday evening and would hold talks with officials before his expected departure on Thursday for Tokyo. <br />
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In Seoul, Bosworth met South Korea's chief nuclear negotiator, Wi Sung-lac, and Foreign Minister Kim Sung-Hwan, for talks centered on Pyongyang's nuclear program and easing strains that have emerged since November's attack. <br />
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Foreign ministry officials said Bosworth stressed that Pyongyang needed to show it was sincere about mending ties with Seoul if six-party international talks on its nuclear program are to resume. <br />
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Kim added that any resumption of the multi-party talks should be preceded by two-way talks between the Koreas. <br />
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The North has refused to discuss the nuclear issue directly with the South, saying it only wants to deal with Washington. <br />
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"The six-party talks are a useful framework for negotiation on the North's denuclearization but in order to achieve tangible progress through the talks, the right atmosphere -- including bilateral talks -- should be created," Kim said. <br />
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"The government will continue pursuing both tracks -- dialogue and sanctions -- to press the North to prove its willingness for denuclearization through actions," he said. <br />
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Upon arrival in Seoul Tuesday, Bosworth called for "serious negotiations" as a central strategy to deal with the communist state. Bosworth also held talks with Unification Minister Hyun In-taek before leaving for Beijing. <br />
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In Washington, State Department spokesman Philip Crowley said dialogue with the North should be constructive. "We don't just want to have talks for talks' sake," he said. <br />
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Crawley said the United States wanted to see a reduction of tension between the Koreas, an end to North Korean provocation, and a seriousness of purpose with respect to its obligations under a 2005 agreement on denuclearization. <br />
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The North also raised security fears that month by disclosing a uranium enrichment plant to visiting U.S. experts. <br />
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Bosworth and Wi agreed that the North's uranium program deserved a stern response from the international community, foreign ministry officials said. <br />
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The North has insisted the plant is designed solely to fuel a light-water reactor being built to produce energy. But U.S. officials and experts say this could easily be converted to produce weapons-grade uranium.</span><br />
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<span style="font-size: x-large;">AUSTRALIA:</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>FRIDAY:</b> S&P/ASX 200 4,705.00 -20.00 (-0.42%) </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>THURSDAY:</b><b> </b>S&P/ASX 200 4,725.00 +10.10 (0.21%) <b><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY: </b>S&P/ASX 200 4,714.90 -27.60 (-0.58%)</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>TUESDAY:</b> S&P/ASX 200 4,742.50 -2.70 (-0.06%) </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>MONDAY:</b> S&P/ASX 200 4,745.20 -45.20 (-0.94%) </span><br />
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<b>FRIDAY MARKET NEWS:</b></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">Rio Tinto Working To Reopen</span></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"> Kestrel Mine After Floods </span><br />
Mining giant Rio Tinto Plc (RIO) on Friday said it is working towards reopening its Kestrel coal mine in the flood-affected Australian state of Queensland but the declared force majeure will stay in place until full production is resumed.<b><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>WEDNESDAY MARKET NEWS:</b></span><br />
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Australian stocks slipped 0.2 percent in mid-morning trade on Wednesday hurt by weak commodity stocks but top airline Qantas gained after a newspaper said it was set to resume A380 flights on the lucrative Los Angeles route. </div>
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BHP Billiton Ltd. (BHP.AU) said Wednesday its Kwinana nickel refinery in Western Australia state has resumed operations after production was hit in December due to a shortage of nitrogen gas.<br />
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Qantas climbed 1.2 percent to A$2.51. The airline grounded its super-jumbo fleet after a Rolls-Royce engine exploded in November, but it has resumed A380 flights on some other routes. </div>
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Top miners were down after copper eased from record highs as part of a broad-based sell off over-heated commodities. BHP Billiton was 0.6 percent lower, while Rio Tinto was 0.3 percent weaker. </div>
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Queensland-based insurer Suncorp Metway fell 0.6 percent extending Tuesday's 3 percent fall on fears of mounting claims due to record floods in the state. </div>
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Rare earths firm Lynas fell 5.6 percent to A$2.18 as investors viewed the sharp rise over the past four sessions, after dominant supplier of rare earths China cut export quotas of the minerals, as excessive. The stock had risen 42 percent in the past four days of trade. </div>
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Goody Fined - The Federal Court has found that an Adelaide company falsely advertised its plastic bags as biodegradable.</div>
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The Australian Competition and Consumer Commission claimed Goody Environment breached the Trade Practices Act in the making and distribution of the bags. The court heard the company engaged in misleading and deceptive conduct and made false claims about the bags. Goody Environment will pay $65,000 in court proceedings and publish corrective notices.</div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">TUESDAY </span></b><span style="font-family: "arial" , "helvetica" , sans-serif;"> MARKET NEWS</span><b><span style="font-family: "arial" , "helvetica" , sans-serif;">: </span></b><br />
<span style="font-size: x-large;">Australia December Performance Of</span><br />
<span style="font-size: x-large;"> Manufacturing Index Declined</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Australia's manufacturers suffered more pain in December, hit by still record highs in the local currency and rising interest rates, according to an index released Tuesday. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The Australian Industry Group-PricewaterhouseCoopers Australian Performance of Manufacturing Index fell 1.3 points in December from November to 46.3. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">New orders remain low, suggesting there's little immediate relief in sight. </span><span style="font-family: "arial" , "helvetica" , sans-serif;"></span><span style="font-family: "arial" , "helvetica" , sans-serif;">This decline highlights the stark contrasts within Australia's economy as a once-in-a-century mining boom grabs headlines but with little solace for manufacturers and exporters outside of the mining sector. The areas most hard hit in the month were clothing and footwear, basic metals, food and beverages, and wood products and furniture. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"></span><span style="font-family: "arial" , "helvetica" , sans-serif;">The mining boom has notably driven the currency up for nearly six straight months, with the Australian dollar now trading at its highest levels since the currency was floated in 1983. In addition, the country's central bank has been forced to hike interest rates seven times in its last 14 meetings in an effort to stave off the risk of rising inflation.</span><br />
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<span style="font-size: x-large;">NEW ZEALAND:</span></div>
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<b>WEDNESDAY:</b> New Zealand's benchmark NZX 50 index climbed 0.6 percent to 3,328.55. </div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<b>(FRIDAY, JAN 7, 2011 4:00 PM EST)</b><br />
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EUR/USD 1.2932 -0.0067 (-0.52%)<br />
USD/JPY 83.0300 -0.2500 (-0.30%)<br />
GBP/USD 1.5548 +0.0094 (0.61%)<br />
USD/CAD 0.9927 -0.0045 (-0.45%)<br />
USD/HKD 7.7719 -0.0011 (-0.01%)<br />
USD/CNY 6.6276 +0.0016 (0.02%)<br />
AUD/USD 0.9954 +0.0022 (0.22%)<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">____________________________________________________________</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;"> <span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<b>(FRIDAY, JAN. 7, 2011: 4:00 PM EST)</b><br />
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Shanghai 2,838.80 +14.60 (0.52%)<br />
Nikkei 225 10,541.04 +11.28 (0.11%)<br />
Hang Seng Index 23,686.63 -99.67 (-0.42%)<br />
TSEC 8,782.72 -100.49 (-1.13%)<br />
FTSE 100 5,984.33 -35.18 (-0.58%)<br />
DJ EURO STOXX 50 2,808.25 -27.98 (-0.99%)<br />
CAC 40 3,865.58 -38.84 (-0.99%)<br />
S&P TSX 13,272.30 -39.37 (-0.30%)<br />
S&P/ASX 200 4,705.00 -20.00 (-0.42%)<br />
BSE Sensex 19,691.81 -492.93 (-2.44%)<br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: x-large;">FRIDAY'S U.S. ECONOMIC CALENDAR:</span></span><br />
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<b>8:30 a.m.</b><br />
Dec Unemployment rate Non-Farm Payrolls (expected +150K), Unemployment Rate (expected 9.7%), Average Hourly Earnings (previous 22.75), Average Hourly Earnings Net Change (previous +0.01), Manufacturing Payrolls (previous -13K), Service Producing Payrolls (previous +54K), Government Payrolls (previous -11K), Federal Payrolls (previous +2K)<br />
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<b>9:30 a.m.</b><br />
Fed Chmn Bernanke testifies before U.S. Senate Budget panel on 'The U.S. Economic Outlook: Challenges for Monetary and Fiscal Policy' in Washington)<br />
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<b>12:15 p.m.</b><br />
Minneapolis Fed Pres Kocherlakota participates in Sovereign Credit Risk' discussion in Denver, Colo. <br />
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<b>1:30 p.m.</b><br />
Federal Reserve Governor Elizabeth Duke speech on the economic outlook <br />
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<b>3:00 p.m.</b><br />
Nov Consumer Credit Monthly Net Change (expected 0)<br />
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<b>4:30 p.m.</b><br />
Chicago Fed Pres Evans participates in 'The Future of Monetary Policy' panel in Denver, Colo. <br />
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<b>4:30 p.m.</b><br />
Boston Fed Pres Rosengren participates in 'Understanding the Effects of Unorthodox Monetary Policies' discussion in Denver, Colo. <br />
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<b>N/A</b><br />
Dec Halifax House Price Index Monthly (previous -0.1%), Yearly (previous -0.7%)<br />
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© Copyright 1999-2017, Online Consultancy Network™. All Rights Reserved.</span><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-89616288751405224212010-12-27T07:18:00.000-08:002011-01-22T03:42:59.237-08:00Stock Market Update - Dec.27 - Dec, 31, 2010 Cautious Choppy Minor Gains Seen with Mixed Economic Data<div style="font-family: Arial,Helvetica,sans-serif;">Stock Market Update<br />
New Year's Eve </div><div style="font-family: Arial,Helvetica,sans-serif;">Friday, December 31, 2010</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines:</span><br />
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<b>USA EQUITY INDEXES: (FRIDAY, DEC. 31; 4:05 PM EST)</b></div><i>(Closing Index Numbers)<br />
</i><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>Dow Jones 11,577.51 <span style="color: #274e13;">+7.80</span></b></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>Nasdaq 2,652.87 <span style="color: red;">-10.11</span></b><b><br />
S&P 500 1,257.64 <span style="color: red;">-0.24</span></b></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>Dow Jones CLOSING Averages: DJIA 11,577.51 UP 7.80</b><br />
30 INDUS 11,577.51 UP 7.80 OR 0.07%<br />
20 TRANSP 5,106.75 DN 1.85 OR 0.04%<br />
15 UTILS 404.99 UP 0.24 OR 0.06%<br />
65 STOCKS 4,033.19 UP 1.37 OR 0.03%</span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>US COMMODITY PRICES:<i> </i>(FRIDAY, DEC. 31; 4:00 PM EST)</b></div><span style="font-family: Arial,Helvetica,sans-serif;">Crude Oil 91.41 + 0.03%<br />
Natural Gas 4.39 - 0.29%<br />
Gasoline 2.43 +0.12%<br />
Heating Oil 2.54 + 2.35%<br />
Gold 1421.40 + 1.22%<br />
Silver 30.90 + 1.51%<br />
Copper 4.31 - 0.23%</span><br />
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<i><b><span style="font-family: Arial,Helvetica,sans-serif;">US DOLLAR FUTURES INDEX DXY: THURSDAY, DEC. 30, 2010 EST: </span></b></i><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;"><span style="color: red;"><span style="color: black;">12:03PM EST: 79.61 <span style="color: red;">Down 0.19 (0.24%)</span></span></span></span></b></i><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. Dollar Lower, Stocks Flat, Commodities Mixed to Higher </span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>Monday Outlook:</b> I fully expect the U.S. Dollar index to further decline until Feb 14, 2011, and expect to see equities and commodities to continue to rise until that time period.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY:</b> U.S. Blue Chips edge higher along with energy, metals and small caps as the dollar wanes. The dollar fell, with the U.S. Dollar Index, which tracks the U.S. currency against a basket of six others, off 0.7%. The Euro is trading higher than the dollar, currently 1.3335 up 0.0046 (+0.35%) </span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">U.S. Stocks closed Friday in mixed fashion as the Dow Jones industrial average edged 7.8 points higher to 11,577.51. The Nasdaq composite index was down 10.11 points to 2,652.87 while the S&P 500 index dipped 0.24 of a point to 1,257.64. The Dow Jones industrial average gained 11 per cent in 2010, the Standard & Poor’s 500 finished up 12.78 per cent while the Nasdaq composite index finished up 16.9 per cent.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Dow Jones Industrial Average edged up 15 points, or 0.1%, to 11585 in afternoon trading. The measure is within reach of closing above 11585.38, which would represent its highest close since August 2008 and the 12th time in the Dow's history of closing out the year at its high. The Nasdaq Composite shed 0.3% to 2654 although it is up 17% for 2010. The Standard & Poor's 500 index rose 0.1% to 1259. The measure is up nearly 13% for the year, with a 6.7% climb this month marking its best December performance in 19 years. Friday's small moves in U.S. stocks came as investors made their final position changes for 2010. Less than a billion shares had changed hands in New York Stock Exchange Composite trading as of 12:45 p.m. EST. . <br />
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</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">By 10:30 a.m. EST as the dollar lowered U.S. stocks began moving up in light morning trading. Equities look mostly flat while materials are rising. Gold is above $1,414 an ounce while silver is over $30.60 an ounce and copper is steady. Energy issues are mixed. The dollar fell, with the U.S. Dollar Index, which tracks the U.S. currency against a basket of six others, off 0.9%. But demand for Treasurys rose, pushing the yield on the 10-year note down to 3.33%. </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">At the open, U.S. stocks fell slightly Friday morning, in the final session of a strong year in which the market climbed to two-year highs. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Dow Jones Industrial Average slipped 18 points, to 11551. J.P. Morgan Chase led the measure's decline with a 0.4% drop, while Chevron also declined 0.4%. Verizon Communications helped keep the drop in check, rising 0.5%, while General Electric tacked on 0.2%. The Nasdaq Composite shed 0.1% to 2661. It has jumped 17% this year. The Standard & Poor's 500 index declined 0.1% to 1256. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">A weaker dollar boosted gold prices Friday, as dollar-denominated gold appears cheaper to buyers using foreign currencies when the dollar eases. The euro was recently at $1.3366, up from $1.3295 late Thursday.. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY BEFORE THE BELL:</b> U.S. Stock indexes are headed to a lower open on the final trading day of 2010.</span> <span style="font-family: Arial,Helvetica,sans-serif;">Ahead of the opening bell Friday, Dow Jones industrial average futures are down 14, or 0.1% percent, at 11,508. Standard & Poor's 500 index futures are down 2, or 0.2% percent, at 1,252. Nasdaq 100 index futures are down 1, or 0.1% percent, at 2,223. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Oil prices fell slightly below US$90 a barrel Friday in Asia as investors took profits amid light year-end trading volume. </span><span class="secondary-box-teaser" style="font-family: Arial,Helvetica,sans-serif;">The Dollar looks set to weaken in the last hours of trading this calendar year, but the outlook for 2011 is a somewhat strengthening US currency. </span><span style="font-family: Arial,Helvetica,sans-serif;">The Institute for Supply Management-New York releases its December index of regional business activity at 1330 GMT. In the previous month, the index read 485.7. At 1530 GMT, Economic Cycle Research Institute releases its weekly index of economic activity for Dec. 24.</span><span id="articleText"> <span style="font-family: Arial,Helvetica,sans-serif;">Volume is expected to remain weak as the most of the world markets have concluded their year. The U.S. government and many businesses observe the New Year's holiday on Friday.</span></span><span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">No key data are on tap for Friday, which will be a full session for the U.S. stock market although volume is expected to be particularly light due to the holiday. The bond market is set for an early close today, at 2 p.m., EST. .</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY:</b> U.S. stocks are posting small declines Thursday. The Dow Jones Industrial Average shed 15 points, or 0.14%, to 11569.71. The Nasdaq Composite Index slid almost 4 points to close at 2662.98. The Standard & Poor's 500 index shed 0.15% to end the days trades at 1257.88. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Fewer than 1.2 billion shares had traded in New York Stock Exchange Composite volume as of 1:30 p.m. EST .</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The U.S. Dollar Index, which tracks the U.S. currency against a basket of six others, fell 0.3%. The Swiss franc reached new highs against the dollar, the euro and the pound in London, as thin trading conditions exaggerated currency movements and the effects of general dollar weakness. . </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">THURSDAY BEFORE THE BELL: U.S. Stocks look like we are heading to a flat or higher open as the dollar declined below Wednesday's close. The dollar continues to loose broadly against the Yen and a basket of World currencies.The euro was recently at $1.3297, from $1.3225 in New York trading Wednesday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Stock futures pointed to a flat open as the market digested a larger-than-expected drop in jobless claims. Initial jobless claims fell by 34,000 to 388,000 in the week ended Dec.25, from 422,000 in the prior week, according to the Labor Department. Futures for the Dow Jones Industrial Average were down by 7 points, or 2 points above fair value, at 11,525. Futures for the S&P 500Nasdaq futures were ahead by 1 point, or nearly 1 point above fair value.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">The FTSE in London will also finish the year with an abbreviated session, was down by 0.2%, and the DAX in Frankfurt was off by 1.1%. The DAX will be closed on Friday, resuming trading on Jan. 4. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">At 9:45 a.m., Chicago's Institute for Supply Management will release December manufacturing data with its purchasing managers index. Wall Street expec</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>WEDNESDAY</b>: U.S. stocks edged higher Wednesday amid a holiday week that was low volume, choppy, missing any significant economic news and boosted by a falling dollar. </span><span style="font-family: Arial,Helvetica,sans-serif;">The week between Christmas and New Year, almost always a quiet interval for markets</span>.<span style="font-family: Arial,Helvetica,sans-serif;"> The dollars decline against a basket of world currencies gave precious metals and energy stocks the edge on the day. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">By mid-afternoon the energy issues and commodities had moved the U.S. indexes higher as the dollar fell lower on the day. The U.S. Dollar Index, which tracks the currency against a basket of others, fell 0.5%. Energy and materials stocks were among the best performers of the day. Halliburton rose 2%, Schlumberger gained 2% and Occidental advanced 1.6%. Monsanto also gained 2.7%. The Dow Jones Industrial Average rose 46 points, or 0.4%, to 11622, adding to a gain of more than 5% this month. McDonald's, Walt Disney, International Business Machines and Chevron all gained 1% or more, helping buoy the blue-chip index. The Nasdaq Composite gained 0.3% to 2671. The Standard & Poor's 500-stock index added 0.3% to 1262. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">US stocks edge higher in very light volume as the dollar trades below Tuesday's close. The U.S. Dollar Index, which tracks the currency against a basket of others, fell 0.2%. The dollar was lower across the board, down against both the euro and the Japanese yen. The euro was trading recently at $1.3135, up from $1.3117 late Tuesday in New York. The Dow Jones Industrial Average rose 38 points, or 0.3%, to 11613. McDonald's led the measure higher, rising 1.2%, while Chevron gained 0.8%. The Nasdaq Composite gained 0.3% to 2670. The Standard & Poor's 500-stock index added 0.3% to 1262, led by its energy and consumer discretionary sectors. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>WEDNESDAY</b> BEFORE THE BELL U.S. Stock futures look we are going to open higher Wednesday morning. </span><span style="font-family: Arial,Helvetica,sans-serif;">U.S. futures pointed to a positive open with the Dow Jones futures up 13 points to 11,522, the Nasdaq futures ahead 5.75 points to 2,231 while the S&P futures gained 1.7 points to 1,256.</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">TUESDAY: The Dow closed higher Tuesday, gaining 20 points to close at 11,575.54 up+0.18%. The Nasdaq closed off 4 points to close at 2662.88. The S&P 500 closed flat but up 0.97 to finish the session higher at 1258.51. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">At the Open: U.S. stocks wavered between small gains and losses on Tuesday as metals and mining stocks bounced back. The declining dollar regained some dignity and began the day with a small rise that finished the day flat from Monday's close. Precious metals and base material both rose. Gold is now trading at $1,404 an ounce again. Copper continues to make new highs. Cisco extended its strong climb this week, but mixed housing data kept the gains in check. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Dow Jones Industrial Average fell 9 points to 11546 in recent trading. The Nasdaq Composite edged down 0.1% to 2665. The Standard & Poor's 500-stock index was nearly flat at 1257. </span> <br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY</b>, BEFORE THE BELL: </span><span style="font-family: Arial,Helvetica,sans-serif;">Stocks are pointed to early gains ahead of reports on home prices and consumer confidence. </span><span style="font-family: Arial,Helvetica,sans-serif;">Ahead of the opening bell, Dow Jones industrial average futures are up 9 points, or 0.1 per cent, to 11,524. S&P 500 futures are up 3, or 0.2 per cent, to 1,256. Nasdaq composite futures are up 4, or 0.2 per cent, to 2,234.</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The U.S. Conference Board is expected to announce that consumers are feeling more confident about the economy for the third straight month. Analysts expect the index to rise to 55.8 in December, but the Harris pole and Gallup surveys both show a decline in confidence. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The dollar weakened for a fourth consecutive day against the euro in overnight trades, as commodities rise.</span> <span style="font-family: Arial,Helvetica,sans-serif;">The dollar touched a three-week low against the yen. </span><span style="font-family: Arial,Helvetica,sans-serif;">In overnight currency markets, the dollar fell to 82.51 yen in Tokyo Tuesday from 82.78 yen in New York late Monday. The euro edged up to $1.3238 from $1.3164</span><span style="font-family: Arial,Helvetica,sans-serif;"> The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners including the euro, yen and pound, declined 0.3 percent and touched the lowest since Dec. 17. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">At 9:00 a.m. EST, the S&P/Case-Shiller Index of property values is expected to show its first year-over-year drop since January. Stan Humphries, chief economist of Zillow Inc., a provider of housing data, said in an interview yesterday on Bloomberg Television, that U.S. home prices will fall 5 percent to 7 percent more before reaching a bottom in late 2011. The gauge of residential real-estate values in 20 cities lost 0.2 percent from a year earlier, according to the median estimate of 17 analysts, before the S&P/Case-Shiller report is published today. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">European markets are mostly higher leading into the market open Tuesday in the U.S.</span> <span style="font-family: Arial,Helvetica,sans-serif;">Asian stock markets were mostly lower Tuesday as investors continued to worry about a recent interest rate rise in China and stayed on the sidelines ahead of the release of key U.S. home price data later in the day.</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY:</b> The DJIA closed 18 points lower, or 0.16%, to 11555 at 4:00 p.m. EST, weighed by material and industrial components. Alcoa shed 1%, while Caterpillar fell 0.9%. </span><span style="font-family: Arial,Helvetica,sans-serif;"> The Nasdaq Composite edged up 0.03% to 2667.27. The Standard & Poor's 500-stock index advanced 0.6% to 1257.54. </span><span style="font-family: Arial,Helvetica,sans-serif;">The euro was recently at $1.3152, up from $1.3117 late Thursday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Trading, already expected to be light because of the holidays, was thin as a blizzard snarled traffic and businesses in much of the Northeast. By early afternoon, fewer than 1.3 billion shares had traded hands in New York Stock Exchange Composite volume. The 2010 average for a full-day session is around 4.8 billion shares.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">U.S. equities are trading lower at 10:00 am in another low volume holiday week trading day. The volatility Index is higher; now at 18.16, up 1.70 from Thursday's close.</span><span style="font-family: Arial,Helvetica,sans-serif;"> Trading was light Monday, as a blizzard snarled traffic and businesses in much of the Northeast. By midday, less than 800 million shares had traded hands in New York Stock Exchange Composite volume. The 2010 average for a full-day session is around 4.8 billion shares. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">NYSE Euronext and Nasdaq OMX Group said they expected their U.S. exchanges to operate under normal market hours, with some special rules in effect, due to weather conditions. Futures exchange operator CME Group delayed the start of floor trading until 11 a.m. EST on the New York Mercantile Exchange. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Traders said the weather had contributed further to a week already staffed more lightly as many on Wall Street extended the holiday weekend.</span> <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CRUDE OIL:</span><br />
<div style="text-align: left;"></div><div style="text-align: left;"></div><b><span style="font-family: Arial,Helvetica,sans-serif;">MONDAY: </span><span style="font-family: Arial,Helvetica,sans-serif;">$ 92.17 PER BARREL</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span></b><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">FRIDAY OIL FUTURES: Nymex Crude Settles Up $1.54 At $91.38/Bbl</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Crude futures headed above $90 a barrel Friday on the last trading day of 2010, nearing fresh two-year highs and charting a course towards $100 a barrel oil next year. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Light, sweet crude for February delivery was recently trading up $1.40 at $91.24 a barrel on the New York Mercantile Exchange, nearing a two-year high of $91.52 a barrel set earlier in December. Markets are open today despite the New Year's holiday to comply with exchange rules requiring trading on the last day of the month, and volume is close to the lowest level this year. </span><span style="font-family: Arial,Helvetica,sans-serif;"> Brent crude on the ICE futures exchange were $1.44 higher at $94.53 a barrel. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">According to the International Energy Agency, which advises the U.S. and other industrialized nations on energy. The agency raised its oil demand forecast in December, and now expects demand next year to grow by 1.3 million barrels a day, adding to the rise in 2010 of 2.5 million barrels a day. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Front-month January reformulated gasoline blend-stock, or RBOB, recently traded 4.42 cents higher at $2.4360 a gallon. January heating oil recently traded 4.69 cents at $2.5323 a gallon. Both contracts expire at settlement Friday.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">At the open, crude futures were lower Friday on the last trading day of 2010, a pause in the latest rally in energy prices that nevertheless is expected to bring $100 a barrel oil next year. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Light, sweet crude for February delivery was recently trading down 77 cents to $89.06 a barrel on the New York Mercantile Exchange amid very light trading volume. Markets are open Friday despite the New Year's holiday to comply with exchange rules requiring trading on the last day of the month. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Brent crude on the ICE futures exchange traded 89 cents lower at $92.19 a barrel. Front-month January reformulated gasoline blend-stock, or RBOB, recently traded 1.07 cents, or 0.5%, higher at $2.4025 a gallon. January heating oil recently traded 1.58 cents lower at $2.4696 a gallon. Both contracts expire at settlement Friday. . </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">THURSDAY OIL FUTURES: Nymex Crude Closes $1.28 Lower At $89.84/Bbl</span><br />
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<span style="font-size: x-large;">Department of Energy Reported:</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;"><i><b>Oil Stockpiles Small Decline Seen </b></i></span></div><div style="font-family: Arial,Helvetica,sans-serif;">DOE: US Crude Oil Stocks -1.258M Bbl In Wk; Seen -2.9M Bbl<br />
US Crude Oil Stocks -1.258 Mln Bbl At 339.427 Mln Bbl </div><div style="font-family: Arial,Helvetica,sans-serif;">US Gasoline Stocks -2.316M Bbl In Wk; Seen +1.2M Bbl</div><div style="font-family: Arial,Helvetica,sans-serif;">US Distillate Stocks +0.243M Bbl In Wk; Seen -0.8M Bbl</div><div style="font-family: Arial,Helvetica,sans-serif;">US Distillate Stocks +0.243 Mln Bbl At 160.959 Mln Bbl</div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The draw in U.S. crude inventories last week fell shy of analysts' expectations, according to data released Wednesday by the U.S. Department of Energy. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Crude oil stockpiles fell by 1.3 million barrels to 339.4 million barrels for the week ended Dec. 24, compared with an average survey estimate of a 2.9-million barrel draw. The American Petroleum Institute, an industry group, reported an increase of 3.1 million barrels last week. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Investors reacted negatively to the news. Crude oil futures for February were recently down 1.8% at $89.46 a barrel on the New York Mercantile Exchange. January contracts for gasoline were down 0.9% at $2.3700 a gallon and heating oil were down 1.8% at $2.4774 a gallon. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Distillate stocks, which include heating oil and diesel fuel, rose by 243,000 barrels to nearly 161 million barrels. Analysts expected inventories to fall by 800,000 barrels. Refining capacity utilization rose by 0.1 percentage point to 87.8%, right in line with expectations. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">API pegged refinery runs at 85.6%, or 0.2% higher, and reported that inventories of gasoline fell by 3.1 million barrels but distillates rose by 1.4 million barrels.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">U.S. Oil Inventories:</span><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">For week ended Dec. 24, 2010:</span></b><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Crude Distillates Gasoline Refinery Use</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">EIA data: -1.3 +0.2 -2.3 +0.1</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Forecast: -2.9 -0.8 +1.2 +0.1</span><br />
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<i><span style="font-family: Arial,Helvetica,sans-serif;">Figures in millions of barrels, except for refining use, which is reported in percentage points. Forecasts are the average of expectations in a Dow Jones Newswires survey of analysts earlier in the week.</span></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The U.S. Department of Energy is scheduled to report stockpiled inventory's on Thursday for the week ending last Friday. The report is due at 11 a.m. The American Petroleum Institute, an industry group, will issue its own report Wednesday at 4:30 p.m. after the close. Both reports were delayed due to the Christmas holiday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>WEDNESDAY</b> OIL FUTURES: Nymex Crude Settles 37c Lower At $91.12/Bbl </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Light, sweet crude for February delivery settled down 37 cents, or 0.4%, at $91.12 a barrel. Brent crude on the ICE futures finished down 24 cents, or 0.3%, at $94.14 a barrel. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Front-month January reformulated gasoline blendstock, or RBOB, lost 1.52 cents, or 0.6%, to finish at $2.3904 a gallon. January heating oil gave 0.28 cent, or 0.1% at $2.5215 a gallon.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY'S</b> OIL FUTURES: Nymex Crude Settles 49c Higher At $91.49/Bbl </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Oil futures traded higher Tuesday as the dollar hit a record low against major currencies and cold weather persisted across the northern hemisphere. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Light, sweet crude for February delivery settled up 49 cents, or 0.5%, at $91.49 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures rose 53 cents, or 0.6%, to settle at $94.38 a barrel. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Front-month January reformulated gasoline blendstock, or RBOB, fell 1.53 cents, or 0.6%, to $2.4056 a gallon. January heating oil added 0.77 cent, or 0.3%, to settle at $2.5243 a gallon.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY'S</b> OIL FUTURES: Nymex Crude Closes 48c Lower At $91.03/Bbl </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">January heating oil fell 2.42 cents, or 1%, to settle at $2.5166 a gallon on the New York Mercantile Exchange on Monday. Front-month reformulated gasoline blendstock, or RBOB, gave up 2.17 cents, or 0.9%, at $2.4209 a gallon. </span><br />
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Monday, </span><span style="font-family: Arial,Helvetica,sans-serif;">Iraq's newly appointed oil minister on Monday said the country's daily oil production has increased by about 100,000 barrels a day, exceeding 2.6 million barrels per day for the first time in 20 years.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span> <br />
<div style="font-family: Arial,Helvetica,sans-serif;">Abdul-Karim Elaibi said Iraq's production of crude will continue to rise and will reach its planned, higher targets "sooner than expected." "Today, our production exceeded 2.6 million barrels a day," Elaibi told reporters during a ceremony to formally put him in charge of Iraq's oil ministry after the country's new government was sworn in last week. "We haven't reached this figure since 20 years ago," Elaibi said.</div><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Last Friday, the national average price for a gallon of gas has risen to over $3 a gallon for the first time since October, 2008, when it felt like the bottom had just dropped out of the American economy.<br />
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According to the AAA Fuel Gauge Report, the price for a gallon of gasoline nationwide hit $3.013. California once again has the highest gas prices in the Lower 48 states, hovering at about $3.27 a gallon. In total, 26 states plus the District of Columbia have gas prices exceeding $3 a gallon, while Colorado has the lowest average gas prices, about $2.75 a gallon. The rise in gas prices coincides with a rise in crude prices, which recently topped $90 a barrel...another high not seen since October 2008.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NATURAL GAS:</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY: Natural Gas: $4.41 </b><br />
<b>FRIDAY US GAS: Futures Settle 1.5% Higher At $4.405/MMBtu </b><br />
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Natural gas prices rose Friday as forecasts for colder-than-normal temperatures in January lifted heating demand expectations. <br />
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Futures are poised to end the year higher. Natural gas for February delivery recently traded up 4.3 cents, or 1%, at $4.381 per million British thermal units on the New York Mercantile Exchange. <br />
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If natural gas settles around this level however, it will mark the lowest end-of-year settlement for the heating fuel since 2001.<br />
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THURSDAY'S US GAS: Futures Settle 1.2% Higher At $4.338/MMBtu <br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Smaller-Than-Expected Storage Draw</span><br />
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Natural gas futures pared their gains Thursday after a smaller-than-expected weekly draw from U.S. gas stockpiles. <br />
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Natural gas for February delivery recently traded 2.2 cents, or 0.5% higher, at $4.309 a million British thermal units on the New York Mercantile Exchange. The benchmark contract had traded as high as $4.364/MMBtu before the report. <br />
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The U.S. Energy Information Administration reported that natural gas inventories fell by 136 billion cubic feet last week, less than consensus estimates for a withdrawal of 146 bcf. <br />
Natural gas futures rose Thursday ahead of a government report expected to show a larger-than-average weekly decline in U.S. gas stockpiles last week. <br />
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Natural gas for February delivery recently traded 5.3 cents, or 1.2% higher, at $4.340 a million British thermal units on the New York Mercantile Exchange. Futures earlier rose as high as $4.364/MMBtu, the highest intraday price since Dec. 14. <br />
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The benchmark contract has spent November and December in choppy, range-bound trading, supported when forecasts called for cold and a boost to gas-heating demand, but pressed by ample supplies. <br />
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WEDNESDAY'S US GAS: Futures Settle 0.1c Lower At $4.287/MMBtu <br />
Natural gas for February delivery recently traded 5.7 cents, or 1.3% lower, at $4.231 a million British thermal units on the New York Mercantile Exchange on its first day as the front-month contract. The January contract expired Tuesday at $4.216/MMBtu. <br />
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TUESDAY'S US GAS: Futures Settle 2.5% Higher At $4.216/MMBtu <br />
Natural gas for January delivery on the New York Mercantile Exchanged settled up 10.4 cents, or 2.5%, at $4.216 per million British thermal units. The January contract expired at the end of floor trading, and February futures settled up 3.2% at $4.288/MMBtu. <br />
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<b></b></div><div style="font-family: Arial,Helvetica,sans-serif;">Monday's US GAS: Futures Settle 0.7% Higher At $4.112/MMBtu<br />
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Natural gas for January delivery on the New York Mercantile Exchanged settled 2.9 cents, or 0.7%, higher at $4.112/MMBtu. The January contract expires on Tuesday, and trading volume was light. February gas settled at $4.155 a million British thermal units, up 0.5%. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PRECIOUS METALS: </span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY: </b><b>Gold: $1,421</b> </div><b><span style="font-family: Arial,Helvetica,sans-serif;">FRIDAY: </span></b><b style="font-family: Arial,Helvetica,sans-serif;">Silver: $30.86</b> <br />
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Gold futures finished the year with a 10th consecutive annual gain amid expectations for new record highs next year. The yellow metal was firmly above the $1,400 mark on the last trading day of 2010 and locked in a 29.7% gain for the year, the largest in three years. <br />
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The most actively traded contract, for February delivery, settled up 1.1%, or $15.50, at $1,421.40 per troy ounce on the Comex division of the New York Mercantile Exchange. The thinly-traded January-delivery contract was up 1.1%, or $15.50, at $1,421.10 per troy ounce. <br />
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Palladium futures capped off the year with a 96.5% gain and a fresh nine-year high, as the recovering automotive sector boosted demand across the world. The most actively traded palladium contract, for March delivery, settled up 2.2%, or $17.10, at $803.30 per troy ounce on the New York Mercantile Exchange.<br />
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Silver futures ended the year at a new 30-year high Friday, up 83.7% this year. The cheapest member of the precious metals family has gained from spillover investment demand as gold soared outside of some investors' budgets.<br />
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The most actively traded silver contract, for March delivery, settled up 1.4%, or 42.4 cents, at $30.937 per troy ounce on the Comex division of the New York Mercantile Exchange. <br />
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Platinum lagged precious metals in 2010, locking in an increase of just 20.9% on the year. The white metal is widely used in catalytic converters for diesel engines, as well as in oil refining equipment. <br />
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The most actively traded contract, for April delivery, settled up 1.7%, or $28.90 higher, at $1,778.20 per troy ounce on the New York Mercantile Exchange.<br />
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<b>Settlements (range includes floor and electronic trading):</b><br />
Feb gold $1,421.40, up $15.50; Range $1,404.60-$1,422.00<br />
Mar silver $30.937, up 42.4 cents; Range $30.475-$30.975<br />
Apr platinum $1,778.2, up $28.90; Range $1,722.00-$1,780.90<br />
Mar palladium $803.30, up $17.10; Range $786.30-$804.90<br />
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Engelhard Corp's base price for industrial gold bullion was $1414.25 per troy ounce, up $5.71 from previous. It's selling price for gold in fabricated form was $1520.32, up $6.14.<br />
Handy & Harman's base price for gold was per troy ounce, unchanged. The fabricated form price was , unchanged. <br />
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<b>THURSDAY:</b> The most actively traded contract, for February delivery, was down 0.3%, or $4.80, at $1,408.70 per troy ounce on the Comex division of the New York Mercantile Exchange. <br />
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The thinly-traded January contract was down 0.3%, or $3.70, at $1,409.40 per troy ounce. </div><div style="font-family: Arial,Helvetica,sans-serif;">Engelhard Corp's base price for industrial gold bullion was $1408.54 per troy ounce, down $7.01 from previous. It's selling price for gold in fabricated form was $1514.18, down $7.54.<br />
Handy & Harman's base price for gold was $1405.50 per troy ounce, down $7.00. The fabricated form price was $1517.94, down $7.56.<br />
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<b>WEDNESDAY:</b> The most actively traded contract, for February delivery, settled up 0.6%, or $7.90, at $1,413.50 per troy ounce on the Comex division of the New York Mercantile Exchange. <br />
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The thinly traded December delivery contract was up 0.6%, or $7.90, at $1,413.10 per troy ounce.<br />
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Engelhard Corp's base price for industrial gold bullion was $1415.55 per troy ounce, up $11.52 from previous.It's selling price for gold in fabricated form was $1521.72, up $12.39.<br />
Handy & Harman's base price for gold was $1412.50 per troy ounce, up $11.70. The fabricated form price was $1525.50, up $12.64. <br />
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<b>Wednesday Settlements (range includes floor and electronic trading):</b><br />
London PM Gold Fix: $1,412.50; previous PM $1,373.50<br />
Feb gold $1,413.50, up $7.90; Range $1,401.50-$1,414.90<br />
Mar silver $30.704, up 38.1 cents; Range $30.315-$30.720<br />
Jan platinum $1,754.20, up $2.50; Range $1,743.70-$1,761.80<br />
Mar palladium $793.40, up $6.20; Range $782.25-$796.95<br />
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<b>TUESDAY: </b>Gold futures rallied above the $1,400 mark as traders eyed thin volumes and Comex option expirations Tuesday afternoon. <br />
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The most actively traded contract, for February delivery, settled up 1.6%, or $22.70, at $1,405.60 a troy ounce on the Comex division of the New York Mercantile Exchange. The thinly traded December delivery contract ended up 1.7%, or $22.80, at $1,405.20 a troy ounce. <br />
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<b>TuesdaySettlements (range includes floor and electronic trading):</b><br />
Feb gold $1,405.60, up $22.70; Range $1,383.10-$1,407.20<br />
Mar silver $30.323, up $1.068; Range $29.280-$30.370<br />
Jan platinum $1,751.70, up $16.20; Range $1,737.00-$1,755.30<br />
Mar palladium $787.20, up $20.10; Range $768.95-$787.70<br />
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MONDAY: Gold: $1,382</div><span style="font-family: Arial,Helvetica,sans-serif;">MONDAY: Silver: $29.25</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Monday morning precious metals are thinly traded. Gold trading was closed in the U.K. for celebration of the Boxing Day holiday. A weaker dollar and thin pre-holiday trading volumes helped Comex gold futures inch higher Monday.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The most actively traded contract, for February delivery, settled up 0.2%, or $2.40, at $1,382.90 per troy ounce on the Comex division of the New York Mercantile Exchange. The thinly traded December-delviery contract settled up 0.2%, or $2.40, at $1,382.40 per troy ounce. <br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">Monday Settlements (range includes floor and electronic trading):</span></b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Feb gold $1,382.9, up $2.40; Range $1,372.70-$1,387.70</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Mar silver $29.255, down 7.3 cents; Range $28.810-$29.355</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Jan platinum $1,735.50, up $12.40; Range $1,701.50-$1,741.00</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Mar palladium $767.10, up $9; Range $747.00-$771.00</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BASE METALS:</span> <br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY: Copper $4.31 per pound </b><br />
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Copper soared further into uncharted territory on the final trading day of 2010, with the red metal poised to settle at a fresh record amid dollar weakness and thin trading volumes. <br />
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The most actively traded copper futures contract, for March delivery, was recently up 1.4%, or 5.95 cents, at $4.4220 a pound. Thinly traded January copper was up 1.3%, or 5.6 cents, at $4.4125 per pound on the Comex division of the New York Mercantile Exchange. <br />
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<b>THURSDAY:</b><br />
The most actively traded contract, for March delivery, settled down 0.4%, or 1.65 cents, at $4.3115 a pound on the Comex division of the New York Mercantile Exchange. The thinly traded December-delivery contract was down 0.4%, or 1.5 cents, at $4.3090 a pound. The most active contract set a fresh all-time intraday high in morning trade, hitting $4.3320 a pound. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Comex Copper Settles At Record $4.3280/lb </span><br />
Copper prices marched into uncharted territory Tuesday as a weaker dollar and investor appetite for commodities increased. The most actively traded contract, for March delivery, settled up 1.15, or 4.8 cents, at $4.3280 a pound on the Comex division of the New York Mercantile Exchange. This is a new record settlement price, beating Monday's record of $4.2800. <br />
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The most actively-traded contract also set a fresh intra-day record at $4.3350. The thinly-traded December delivery contract settled up 1.2%, or 4.9 cents, at $4.3240 a pound. <br />
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The rally is likely to continue into next year as many analysts forecast a copper supply shortfall for 2011, including BMO Capital Markets base metals strategist Bart Melek who pegs the deficit at 387,000 metric tons. <br />
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Tuesday's record-breaking leap launched as the dollar declined against the euro. The euro was recently at $1.3213, from $1.3155 late Monday. Investors using foreign currencies tend to purchase more dollar-denominated contracts like copper futures when the greenback weakens, as these assets appear cheaper. <br />
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<b>MONDAY:</b> Copper $4.28 per pound + 0.61% </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Comex Copper Record Settlement $4.2800/lb</span></div></div><span style="font-family: Arial,Helvetica,sans-serif;">Monday's Comex copper futures are trading slightly higher. Comex copper futures settled at a fresh record high Monday as supply concerns and a weaker dollar were amplified by thin holiday-trading volumes. <br />
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The most actively traded contract, for March delivery, settled up 0.5%, or 2.15 cents, at $4.2800 a pound on the Comex division of the New York Mercantile Exchange. This is the highest ever settlement price. <br />
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The most-actively traded contract had set a fresh intraday record of $4.2985 a pound overnight in electronic trading. <br />
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The thinly traded December-delivery copper futures settled up 0.5%, or 2.3 cents, at $4.2750 a pound. <br />
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An ongoing supply problem at one of Chile's largest copper mines supported copper prices Monday. The Dona Ines de Collahuasi copper mine, with annual output of around 550,000 metric tons of copper or around 3% of annual global supply, suspended sales contracts on Dec. 20 after a fatal accident at its port. <br />
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The mine, jointly owned by Xstrata PLC, Anglo American PLC and a consortium led by Mitsui & Co., continues to look for an alternate port. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS: </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY:</b></div><span style="font-family: Arial,Helvetica,sans-serif;">Demand for Treasurys rose, pushing the yield on the 10-year note down to 3.30%. U.S. Treasurys prices also pushed up Friday on the final trading day of 2010 on month-end buying, leaving the bond market poised to end volatile year of trading on a high note. <br />
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The U.S. Treasury market saw a record year of debt sales in 2010, rallying strongly in early months amid rising worries about fiscally troubled euro zone nations, and then weakening in latter months amid signs that the U.S. economy is poised to improve in 2011. </span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY: </b></div><span style="font-family: Arial,Helvetica,sans-serif;">Treasurys prices dropped on the last full trading day of 2010. Treasury prices fell, lifting the yield on the 10-year note to 3.39%. . The benchmark 10-year Treasury yield, which moves inversely to its price, has risen by some 100 basis points since October. In recent trading, the two-year note was off 1/32 to yield 0.657%, the 10-year was down 10/32 to yield 3.398% and the 30-year off 13/32 to yield 4.462%. Treasurys' losses Thursday follow a sharp rally Wednesday, which came on the heels of a strong seven-year note auction, the final Treasury note sale of 2010. . </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>WEDNESDAY:</b> Demand for U.S. Treasurys rose one day after an auction of five-year notes saw weak demand and ahead of a sale of seven-year debt. Yield on the 10-year note fell to 3.44%. Early morning demand for U.S. Treasurys rose one day after an auction of five-year notes saw weak demand and ahead of a sale of seven-year debt. Yield on the 10-year note fell to 3.48%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY:</b> Demand for Treasurys was mixed Tuesday, with the two-year note up and the 10-year note down, sending its yield up to 3.36%. The tepid reception for a $35 billion sale of five-year Treasury notes caught attention in otherwise quiet credit markets Tuesday. <br />
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Higher yields failed to lure enough buyers to underwrite the auction, a marked contrast to a $35 billion sale in two-year notes Monday. The lukewarm reception of the five-year notes sent Treasury prices lower across the board. Some market participants also worried about the fate of Wednesday's sale of $29 billion in seven-year Treasury notes. . </span><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">MONDAY</span></b><b style="font-family: Arial,Helvetica,sans-serif;">:</b><span style="font-family: Arial,Helvetica,sans-serif;"> Demand for U.S. Treasurys declined, sending yield on the 10-year note up to 3.41%. The dollar weakened against both the euro and the yen. The euro was traindg recently at $1.3156, up from $1.3117 late Thursday in New York. Treasurys declined, lifting the yield on the 10-year note to 3.38%.</span><br />
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<b>FRIDAY, DEC. 31, 2010: 1:00 PM EST:</b></div><div style="font-family: Arial,Helvetica,sans-serif;">3 Month 0.10% -0.01 (-9.09%)<br />
6 Month 0.17% -0.01 (-5.56%)<br />
2 Year 0.59% -0.04 (-6.35%)<br />
5 Year 2.01% -0.05 (-2.43%)<br />
10 Year 3.30% -0.03 (-0.90%)<br />
30 Year 4.35% -0.03 (-0.68%)<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div>____________________________________________________________<br />
<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">U.S. ECONOMIC NEWS:</span></span><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">FRIDAY: </span></b><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> </span><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NY BUSINESS CONDITIONS INDEX HITS 7-MONTH HIGH</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">ISM-New York's Current Business Conditions index jumps to 70.0 in December from 65.6 in November, the highest reading since May. Businesses are also more optimistic about 2011.</span><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">THURSDAY:</span></b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FDIC Requires Banks To </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Make Changes In Quarterly Call Reports</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">U.S. banks submitting quarterly reports on their financial conditions next month must make several changes due to new regulations, the Federal Deposit Insurance Corp. said Thursday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The FDIC said banks must report the amount and number of noninterest-bearing transaction accounts valued at more than $250,000. They are also required to report data on reverse mortgages, the agency said. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The quarterly reports, known in the industry as Call Reports, for the fourth quarter are due Jan. 30. </span><span style="font-family: Arial,Helvetica,sans-serif;"> The FDIC reported in November that U.S. banking industry profits jumped again in the third quarter, as banks saw stronger revenue and set aside fewer reserves. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Net income for the roughly 7,700 U.S. banks and thrifts totaled $14.5 billion for the quarter, up from just $2 billion a year earlier. However, the number of banks on the FDIC's list of problem institutions rose to 860 at the end of September, inching up from 829 at the end of June.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chicago Business Barometer Reported Rise</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">A surge of new orders saw the closely-watched Chicago Business Barometer blow past analysts' expectations in December, with the seasonally-adjusted reading of 68.6 released Thursday marking the highest level seen in 22 years. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The survey of regional purchasing managers produced by the Institute for Supply Management-Chicago is valued as a leading indicator of national activity, and has advanced for 15 straight months. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><u>While new orders and prices paid for employment and services drove most of the gains</u>, the employment indicator rose for the third month in a row and at 60.2 was at its highest level in more than five years, adding to the sentiment generated by data released earlier Thursday showing lower initial jobless claims over the past week </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The barometer, once known as the Chicago PMI, is compiled from a survey of purchasing managers in the manufacturing, resources and service sectors. with readings above 50 pointing to economic expansion. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. HOME SALES REPORT </span></span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><i><b>The year is shaping up to be the worst for home sales since 1997.</b></i> </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Pending Sales of US Existing Homes Rose 3.5% in November <br />
The number of signed contracts to buy homes rose in November, the fourth increase since contract signings hit a low in June. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The National Association of Realtors says its index of sales agreements for previously occupied homes increased 3.5 per cent last month from a downwardly revised reading in October. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Contract signings were up in the West and Northeast, but down in the South and Midwest.</div><div style="font-family: Arial,Helvetica,sans-serif;">Signings are 22.1 per cent above June's index reading, which was the lowest level since the private group began tracking the data in 2001. Still, signings are 5 per cent lower than November 2009 when buyers were scrambling to close purchases to qualify for the first federal tax credit.</div><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. MORTGAGE RATES REPORT</span><br />
Mortgage rates are up after easing slightly last week, according to Freddie Mac's weekly survey of mortgage rates. The 30-year fixed-rate mortgage averaged 4.86%, up from 4.81%, while 15-year fixed-rate mortgages were 4.2%, up from 4.15%.<br />
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<span style="font-size: x-large;">388,000 MORE AMERICAN'S LOST THEIRS JOBS LAST WEEK</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">New claims for unemployment benefits dropped more than expected last week to their lowest level in more than two years, Initial jobless claims fell by 34,000 to 388,000 in the week ended Dec.25, from 422,000 in the prior week, according to the Labor Department. </div><span style="font-family: Arial,Helvetica,sans-serif;">:</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>WEDNESDAY: </b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Retail Sales For Week Ended Dec 25 Down 4.1%</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Retail sales in the week leading up to Christmas fell 4.1% from the prior year, though much of that can be blamed on a calendar shift, according to ShopperTrak, which monitors U.S. sales and shopping traffic in retail outlets and malls. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> Christmas fell on a Saturday this year, compared with a Friday in 2009. The comparable week-of-sales data in the year-ago period included sales from Dec. 26, a major day for shoppers to cash in gift cards, exchange unwanted sweaters and take advantage of after-Christmas promotions. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">According to data from ShopperTrak, traffic fell 6.8% in the week ended Dec. 25 from the prior-year period. </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Financial </span><span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Investors'</span> A</span><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">dvisers</span><span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> </span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Intelligence Poll - Lower S</span></span><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">entiment</span><span style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><i><b>Bullish Sentiment Lower </b></i></span><br />
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</div><span style="font-family: Arial,Helvetica,sans-serif;">Bullish sentiment fell among financial advisers surveyed in the weekly Investors' Intelligence poll from last Friday. </span><span style="font-family: Arial,Helvetica,sans-serif;">The percentage of financial advisers who are bullish on the market fell to 55.6% from 58.8%, while bearish sentiment fell to 20.0% from 20.6%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The percentage of financial advisers expecting a market correction rose to 24.4% from 20.6%. </span><span style="font-family: Arial,Helvetica,sans-serif;"> In the week ended Tuesday, 77.95% of stocks listed on the New York Stock Exchange were above their 10-week moving averages.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><a href="http://www.investorsintelligence.com/">http://www.InvestorsIntelligence.com/</a> </span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">TUESDAY:</b><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Edmunds Reported New Car Sales</span><br />
<span style="font-size: x-large;"> Are Trending Upwards For 2010</span></div><span style="font-family: Arial,Helvetica,sans-serif;">New automobile sales of 1.1 million units sold was reported by Edmunds.com The past year was marked by increased demand for larger vehicles and used cars. For 2010, Edmunds expects truck sales rose 15% and SUV sales, 21%. Sales of midsize and compact cars are expected to be up 7.8% and 1.1%, respectively. Hybrid car sales are seen down 8.1%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Auto makers outside Japan scaled back incentives, car shopping website Edmunds.com said Tuesday in its review of 2010 trends. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Used cars were also more popular: their average price was $19,345 this month versus $16,586 a year earlier. Consumers, particularly those who put off buying a car in the recession, were warmer to trucks and sports utility vehicles as gas prices remained stable. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The group's data on incentives costs found that U.S., European and Korean auto makers scaled back their large incentives in 2010, while Japan car makers increased their relatively meager ones. <br />
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Japanese brands remained the lowest in average incentive spending with $1,968 per car sold this year, up from $1,637 the prior year. In comparison, U.S. cars averaged $3,333 in incentives this year, down from $3,766 in 2009. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. Consumer Confidence Index Declines</span></div><span style="font-family: Arial,Helvetica,sans-serif;">U.S. consumers turned a bit more cautious about the economy in December, according to a report released Tuesday. However, the change in sentiment didn't slow holiday shopping. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Conference Board, a private research group, said its index of consumer confidence fell to 52.5 in December from a revised 54.3 in November, first reported as 54.1. The present situation index, a gauge of consumers' assessment of current economic conditions, fell to 23.5 from a revised 25.4, originally reported as 24.0. <br />
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Consumer expectations for economic activity over the next six months dropped back to 71.9 after jumping to a revised 73.6, first reported as 74.2. <br />
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Lynn Franco, director of the Conference Board Consumer Research Center, said, "Despite this month's modest decline, consumer confidence is no worse off today than it was a year ago. Consumers' assessment of the current state of the economy and labor market remains tepid, and their outlook remains cautious." <br />
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Consumers are more worried about the labor markets this month. A large 46.8% think jobs are "hard to get" this month, up from 46.3% in November, while 3.9% of respondents think jobs are "plentiful," down from 4.3% last month. <br />
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Expectations about labor markets also turned darker. The percentage of consumers expecting more jobs in the months ahead dropped to 14.3% from 15.1%, and the proportion expecting fewer jobs increased to 19.5% from 19.1%. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CHAIN STORE SALES RISE 1%</span></div><span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">ICC/Goldman Sachs Retail Chain Store Sales Index rises 1% in the week ended Saturday from the week before. The last-minute holiday spending lift is aided by consumers having more money as a result of the improving economy.</span><br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">CHINA CUTS RARE EARTH EXPORT QUOTA</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">China's decision to sharply cut its rare earth export quotas for the first half of 2011 after cutting second-half export quotas this year will exacerbate concerns among global buyers of the materials.</span><br />
<h1 class="top_head" style="font-family: Times,"Times New Roman",serif; font-weight: normal;">U.S. Home Prices Falling Faster in Major Cities; Further Declines Expected in 2011</h1><div style="font-family: Arial,Helvetica,sans-serif;">Home prices are dropping in America's largest cities and are expected to fall through next year, with the worst declines coming in areas with high numbers of foreclosures. The Standard & Poor's/Case-Shiller 20-city home price index fell 1.3 per cent in October from September. All cities recorded monthly price declines.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Atlanta recorded the largest decline. Prices there fell 2.9 per cent from a month earlier. Washington, which had posted increases for six straight months, dropped 0.2 per cent in October.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The 20-city index has risen 4.4 per cent from their April 2009 bottom. But it remains 29.6 per cent below its July 2006 peak.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Average U.S. Home Mortgage Rate Falls to 4.42%</span><br />
Federal Housing Finance Agency's national average rate for loans used to purchase homes dips 0.7 percentage point from a month earlier to 4.42% in November. Rate on 30-year loans falls 0.12 percentage points to 4.38. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Richmond Fed Manufacturing index Rises</span><br />
The Federal Reserve Bank of Richmond reported that economic activity among manufacturers in the central Atlantic region expanded this month, . The service sector also showed improvement. The index jumps to 25 in December from 9 in November. <br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY:</b></div><i><span style="font-family: Arial,Helvetica,sans-serif;"></span></i><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">Chicago Fed Manufacturing index Rises</span></div><span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">The Chicago Fed's Midwestern Manufacturing Index is up 0.4% to a seasonally adjusted 81.1 in November as gains in steel and machinery production offset a decline in auto production.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">Dallas Fed Dec Business Activity 12.8 Vs Nov 16.2</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Texas factory activity increased in December, but at a slower pace, according to a report released Monday by the Federal Reserve Bank of Dallas, with improvement in employment a highlight. <br />
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The bank said that its general business activity index moved to 12.8 from 16.2 in November. The production index for the current month slipped to 12.8 from 13.1. It was positive for the fourth consecutive month. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The shipments index held steady at 7.8, where it was last month, after it turned positive following five months of negative readings. The new orders index was at 1.6 this month from 9.1 in November. The growth rate of new orders was at 2.5 from 9.3. <br />
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The materials inventory index moved to -3.2 in December from -7.1, and the finished goods inventory index stood at -1.1 from -12.2. </span><span style="font-family: Arial,Helvetica,sans-serif;">The prices-paid index jumped to 43.9 from 34.9, while the prices-received index turned positive, rising to 11.6 from 6.0. </span><span style="font-family: Arial,Helvetica,sans-serif;"> <br />
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The employment index increased to 15 from 5.8 in November. The jobs expectations index that looks out six months was at 36.2 from 37.9. <br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">The Wall Street Journal Says 100 Banks in Trouble</span></span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Nearly 100 U.S. banks that got bailout funds from the federal government show signs they are in jeopardy of failing. The total, based on an analysis by The Wall Street Journal, is up from 86 in the second quarter.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">J.P. Morgan Chase & Co. (JPM) reported Monday that branches in the metropolitan New York area remained closed Monday due to heavy snow storm that buried the area Sunday. <br />
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Other major New York banks didn't return phone calls or weren't able to give any details about their branches. <br />
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A spokeswoman for New York's largest bank by number of branches and deposits said J.P. Morgan hopes to be able to open branches later Monday, and local managers are assessing which can be opened safely and how many employees can safely reach the branches. <br />
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Some mortgage and auto lending operations centers in New York and New Jersey also remain closed, but staff is working from home. The disruptions remain confined to the metro New York area, the spokeswoman said. Branches in Rochester, N.Y., and Syracuse, N.Y., are open.</span><br />
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</span><b> </b><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><a href="http://www.gallup.com/poll/145220/Economic-Confidence-Declines-Early-December.aspx"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. Economic Confidence Declines in Early December</span></a><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Gallup's Economic Confidence Index worsened considerably during the first two weeks of December, offsetting November's improvement. Consumer optimism decreased among upper-income consumers and their middle- and lower-income counterparts.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">According to a Harris Survey: </span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">42% Feel Less Financially Secure </span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">About 42% of Americans feel less financially secure than a year ago, though that's an improvement from last year at this time, according to Harris Poll data.<br />
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In a survey of 2,331 adults from Dec. 6 to Dec. 13, a third felt just as secure and 19% felt more secure. A year ago more than half surveyed felt less financially secure.<br />
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The survey showed more pessimism about the direction of the economy than just last month. About 26% expect the economy will worsen this year, while 29% thought it would improve and 45% think it will stay the same. In November, 34% expected the economy to improve, with just 25% expecting it to get worse, according to Harris.<br />
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Regarding their regional job markets, just 13% of Americans rated their area as good, while 63% rated it as bad. About a quarter expect the job market to improve in the next six months, while 22% expect it to get worse.<br />
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About 49% of Americans plan to reduce household spending this year, and 41% plan to reduce their debt levels, according to the poll. Meanwhile about 22% plan to shed one or more credit cards and save more for retirement. About 13% expect to make home improvements.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. EQUITY NEWS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>FRIDAY:</b><br />
<br />
Dollar Financial agreed to buy online payday loan business Purpose U.K. Holdings<br />
Ltd. for an anticipated $195 million, its second international acquisition this<br />
month. Dollar Financial shares were down 0.5% to $28.49 in light after-hours<br />
trading. <br />
<br />
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New Mexico's Office of Natural Resources Trustee and Freeport-McMoRan Copper & Gold Inc. (FCX) have reached a $13 million settlement over allegations that the release of hazardous substances from the company's mining in southwestern New Mexico damaged groundwater, the agency said Thursday. The settlement includes nearly $12.8 million to restore groundwater resources and $206,000 to the Office of Natural Resources Trustee to reimburse outstanding damage assessment costs.<br />
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Borders Group tumbled 22% ($0.91, -$0.25, -21.84%) after the company said it is delaying payments to some publishers. The bookstore chain said the delays were part of its efforts to refinance its debt, but warned "there can be no assurance" that its larger refinancing efforts will be successful. The nation's second-largest bookstore chain by revenue said the delays were part of its efforts to refinance its debt and that it had notified the publishers with which it is seeking to restructure payments. <br />
<br />
The Ensign Group Inc. (ENSG, $26.37, +$1.83, +7.46%), a skilled-nursing and<br />
assisted-living services company, said it is acquiring Wisteria Place, a<br />
continuing-care retirement community, and its sister facility Wisteria Independent<br />
Living, both located in Texas. Ensign expects the facilities, which have an<br />
occupancy rate of about 73%, to be accretive to earnings in 2011. <br />
<br />
Other Stocks In Focus <br />
<br />
Shares of Anadarko Petroleum Corp. (APC, $78.33, +$2.74, +3.63%) continued to move<br />
up, a day after the U.K.'s Daily Mail reported that BHP Billiton Ltd. (BHP,<br />
$93.02, +$0.12, +0.13%) (BHP.AU) may be preparing an offer worth $90 a share for<br />
the oil and gas exploration company. Anadarko climbed 6.9% Thursday. <br />
<br />
Luxembourg-based steel giant ArcelorMittal (MT, $38.32, +$0.54, +1.43%) matched<br />
the price of Nunavut Iron Ore Acquisition Inc.'s sweetened bid for Baffinland Iron<br />
Mines Corp. (BIM.T) Friday, the latest move in a three-month battle for control of<br />
the junior miner. <br />
<br />
Biglari Holdings Inc. (BH, $421.31, +$1.06, +0.25%), a holding company engaged in<br />
diverse business activities, said it has increased its proposal to acquire all of<br />
the common stock of property and casualty insurance carrier Fremont Michigan<br />
InsuraCorp Inc. (FMMH, $28.40, +$2.40, +9.23%) to $31 per share in cash. <br />
<br />
Jefferies & Co. initiated coverage on E-House (China) Holdings Ltd. (EJ, $15.25,<br />
+$0.66, +4.52%) with a stock-investment rating of buy, saying the real-estate<br />
services company is well positioned to benefit from a growth uptrend in the<br />
Chinese property market, and is less sensitive to market volatility. <br />
<br />
Standpoint Research cut its rating on Gap Inc. (GPS, $22.16, -$0.30, -1.34%) to<br />
hold from buy, as the firm said its has decided to lock in gains after a recent<br />
run up in the retailer's stock. <br />
<br />
China may not announce a second rare-earths export quota in 2011, the official<br />
China Securities Journal said on Friday, after Beijing raised concern by cutting<br />
exports of the minerals next year. Rare-earth plays, like Molycorp Inc. (MCP,<br />
$50.05, -$1.94, -3.73%) and Rare Element Resources Ltd., (REE, $16.01, -$0.73,<br />
-4.36%), have been volatile lately around reports of China's quota actions. <br />
<br />
PetroChina Co. (PTR, $131.59, +$2.25, +1.74%), China's largest listed gas producer<br />
by capacity, said Friday it agreed to sell its wholly owned PetroChina Guangxi Oil<br />
Storage Ltd. unit to its parent for CNY2.11 billion (US$320 million). <br />
<br />
PharmAthene Inc. (PIP, $4.17, +$0.18, +4.51%) gained as a trial on the biodefense<br />
company's breach of contract lawsuit against SIGA Technologies Inc. (SIGA, $13.95,<br />
-$0.01, -0.07%) is set to begin on Jan. 3. The case involves rights to a smallpox<br />
antiviral following a failed merger between the two companies. <br />
<br />
Mine-development company PolyMet Mining Corp. (PLM, $2.33, +$0.10, +4.48%) (POM.T)<br />
announced changes to its board. Effective immediately, Chairman William Murray is<br />
stepping down, but will continue to serve as an active, non-management director.<br />
Directors Ian Forrest and Frank Sims will become independent co-chairmen.<br />
<br />
CVS Caremark agrees to acquire Universal American's Medicare Part D prescription drug business for $1.25 billion. The deal will more than double the size of CVS's share in that program.<br />
<br />
FDA discloses PRock Marketing will recall all Fruta Planta weight loss products, after testing confirmed they contained sibutramine, a drug withdrawn from the market for safety reasons.<br />
<br />
Steel giant ArcelorMittal matches the price of Nunavut Iron Ore Acquisition's sweetened bid for Baffinland Iron Mines, the latest move in a three-month battle for control of the junior miner.<br />
A U.S. court grants Wi-LAN's motion to change certain terminology in a patent-infringement case involving its Wi-Fi patents, a ruling that delays the trial for the case by about a month.<br />
<br />
Sony is considering a $40-a-share bid for big-screen movie company Imax, with Walt Disney interested as well, U.K. newspaper the Daily Mail reports.<br />
<br />
AIG converts 35.7 million partnership units in Blackstone Group into the same amount of common shares that can be more easily sold in the public market. The shares represent an 11.7% stake in the global investment manager. <br />
<br />
<br />
<b>THURSDAY:</b><br />
<br />
Among the companies whose shares are actively trading in the after-hours session are Cumberland Pharmaceuticals Inc. (CPIX). Cumberland Pharma said it is recalling six lots of Acetadote, the specialty pharmaceutical company's treatment for overdose of acetaminophen. <br />
<br />
<br />
Peabody Energy Corp. (BTU) said it has issued force majeure notices advising customers of weather-related shipment disruptions in Queensland, the latest miner to do so amid unprecedented rainfall across large stretches of eastern Australia.<br />
<br />
American Express fell 0.9%, Pfizer slipped 0.5% and Microsoft shed 0.6%. Intel helped keep the declines in check with a 0.5% increase, while Alcoa tacked on 0.3% and Caterpillar rose 0.2%. <br />
<br />
Carlyle has sold part of its stake in China Pacific for around $860 million via a private placing of shares, having been subject to a lockup until the end of 2010 as part of the insurer's Hong Kong IPO last year.<br />
<br />
The trustee attempting to recoup money for the companies of convicted Ponzi schemer Tom Petters has sued J.P. Morgan Chase seeking more than $300 million in multiple lawsuits.<br />
<br />
Chrysler initiates three separate recalls for 144,065 Dodge Ram and Journey vehicles and Ford issues one for 14,737 vehicles over fire concerns, the National Highway Traffic Safety Administration says on its website. <br />
<br />
Germany's Keiper Recaro Group plans to sell the bulk of its auto-parts business to Johnson Controls and focus on the booming market in commercial aircraft seats. The sale price wasn't disclosed.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Anadarko Petroleum(APC, $75.59, +$4.86, +6.87%) jumped 6.9% after the U.K.'s Daily Mail reported BHP Billiton may be preparing an offer worth $90 a share for the oil and gas exploration company. BHP slipped 0.1%. <br />
<br />
CIT will redeem $500 million of its 7% Series A second-lien notes maturing in 2013, leaving $1.6 billion of the series outstanding, as the lender continues its efforts to bolster its balance sheet.<br />
<br />
Endo Pharmaceuticals Holdings Inc. (ENDP, $35.79, +$0.57, +1.62%) said the U.S. Food and Drug Administration approved its Fortesta gel to treat low testosterone, moving the company into another treatment outside its traditional pain-killer focus. Endo has an agreement with U.K. drug company ProStrakan Group PLC (PSK.LN) to market Fortesta in a deal that could be worth up to $210 million if the gel meets sales targets. <br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The U.S. Navy awards multibillion-dollar contracts to Lockheed Martin and a unit of Australia's Austal, finalizing a revamped plan to buy two </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Major independent oil refiner Tesoro (TSO) $18.44 a share down $0.24 in light trading, is flanked by larger rivals that have shed assets to better compete in a tough business environment for the sector, is betting that it can raise its profits by holding on to its refineries.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Chartis, the property-and-casualty insurance unit of AIG, takes steps to improve disclosures about guarantees its subsidiaries provided to other AIG units, after a state regulator found "deficiencies" in its reporting.<br />
<br />
Endo Pharmaceuticals climbed 1.9% after the U.S. Food and Drug Administration approved its Fortesta gel to treat low testosterone. <br />
<br />
<br />
<b>WEDNESDAY:</b><br />
<br />
McDonald's is higher, rising 1%, while Disney added 1% and Chevron gained 0.8%. BJ's Wholesale Club rose 7% after the New York Post cited unnamed sources as saying buyout firm Leonard Green & Partners might launch a hostile bid for the warehouse-club retailer. <br />
<br />
Simon Property agrees the terms of a loan to fund its GBP3 billion plan to buy Capital Shopping Centres. Simon Property has cautioned that its proposal is conditional on CSC not completing the planned purchase of Manchester's Trafford Centre.<br />
<br />
A pension fund for Ohio school employees sues Wachovia and its current owner Wells Fargo over losses the fund sustained from investing in Wachovia's securities lending program. <br />
<br />
A federal judge rules that SAP must pay interest on a $1.3 billion award that Oracle won against it in a November copyright-infringement case, but not the amount Oracle originally sought. <br />
<br />
Sears Holdings soared 5.2% after it was reported that the parent company of Sears and Kmart would jump into the online movie downloading business.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Bank of America edged up 0.2%, after Allstate sued the bank and its Countrywide Financial mortgage-originator unit over a $700 million investment made by the insurer into residential mortgage-backed securities. J.P. Morgan fell 0.3% to lead the decliners.<br />
<br />
A federal judge rules that SAP must pay interest on a $1.3 billion award that Oracle won against it in a November copyright-infringement case, but not the amount Oracle originally sought.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Blackstone Group jumps into the bidding war for Australian shopping-center owner Centro Properties Group, intensifying what is likely to be one of the largest property takeover battles of 2011. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Shares of GenVec jumped 8.2% after the biopharmaceutical company said it will be working with Sanofi-Aventis' animal-health unit Merial to commercialize GenVec's vaccine technology for treatment of foot-and-mouth disease. <br />
<br />
Savient Pharmaceuticals shed 2.6% after its board started a search for a chief executive, a role the company left vacant since late 2008 when Christopher G. Clement resigned in an "involuntary termination by the company without cause," according to a regulatory filing at the time. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>TUESDAY:</b> Metals and mining stocks rebounded after dipping Monday in the wake of China's interest rate hikes. Newmont Mining gained 1.6%, Alcoa rose 0.7%, and Titanium Metals gained 0.3%. shares of General Motors rose 2.4% after a flank of Wall Street firms initiated coverage of GM with a barrage of bullish predictions. JPMorgan calls GM a "high-octane macro play" that will see a "product renaissance" within two years, while even more bullish Morgan Stanley sets a $50 price target and predicts "dramatic improvement" for the company's balance sheet.<br />
<br />
The Federal Trade Commission approves Carl Icahn's $665 million, or $5.50 a share, buyout of Dynegy, according to the commission's web site. Dynegy shares are down 1%. <br />
<br />
Allstate has sued Bank of America's Countrywide mortgage unit regarding $700 million in residential mortgage-backed securities the insurer purchased, claiming Countrywide misrepresented the investments, Bloomberg News reports.<br />
<br />
Hewlett-Packard wins an up to $2.5 billion, 10-year contract to supply personal computers, accessories and support services to NASA, beating incumbent Lockheed Martin. <br />
<br />
Shares of Alcatel-Lucent gained 2.1% after the Paris telecommunications group agreed to pay $137 million to settle charges by the Securities and Exchange Commission that it paid bribes to win business in certain emerging markets.<br />
<br />
American International Group (AIG) could raise between $2.20 billion and $3.00 billion in its second attempt to sell its Taiwan life insurance unit, a Taiwan lawmaker says.<br />
<br />
Johnson & Johnson and AstraZeneca PLC have halted studies of experimental painkillers due to concerns that a class of drugs may raise the risk of joint damage, Bloomberg News reported late Monday. Still, U.S. shares of AstraZeneca were down just one cent, while Johnson & Johnson rose 0.2%. <br />
<br />
<b>MONDAY:</b> Amazon.com says on its peak day, also known as "Cyber Monday," customers ordered more than 13.7 million items, up 44% from its peak day a year earlier, and its third-generation Kindle is the best-selling product in its history.<br />
<br />
AIG establishes $3 billion in new bank credit facilities, split between a 364-day line and a 3-year facility, under which banks agree to make loans to AIG. Also, AIG's Chartis subsidiary enters a one-year, $1.3 billion letter of credit facility. AIG shares up 7%.<br />
<br />
Tesla Motors Inc. (TSLA) shares dropped as much as 17% early Monday after a 180-day, post-IPO restriction on certain stock sales expired and allowed investors to unload their positions. Tesla shares had bounced back from a session low of $25.06 but were still down more than 14% at $25.76. <br />
<br />
The stock, despite some big hits, has managed to stay well above its $17-a-share IPO price <br />
<br />
Cal-Maine Foods Inc. (CALM) fiscal second-quarter earnings fell 5.6% as the largest U.S. producer and distributor of fresh shell eggs reported that higher feed costs and weak demand in September following a nationwide egg recall.<br />
<br />
General Electric will form separate joint ventures with Russian energy company Inter and state-owned technology holding company Rostekhnologii, the U.S. conglomerate says. <br />
<br />
Santander will buy a $2 billion mortgage portfolio of Mexican real estate assets from General Electric's finance division for $162 million plus the assumption of debt. <br />
<br />
Intel and AMD chip makers soon will deliver one of biggest joint venture advances in years in the technology that powers laptop and desktop computers.<br />
<br />
H&R Block. The tax-preparation company tumbled 7% after the company disclosed late Friday that HSBC Holdings ended its long-term contract for the controversial refund anticipation loans. <br />
<br />
Online travel company Expedia was also weak, falling 2.9% after AMR Corp's American Airlines said Thursday that Expedia was hiding its flights<br />
<br />
Late Friday after the bell DryShips Inc. (DRYS) said it was entering into the tanker industry with a $770 million purchase of 12 vessels from a South Korean shipyard and planned to set the new segment up for a spinoff or initial public offering. Shares were down a penny at $5.96 in after-hours trading.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div>____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Market:</span><br />
<i><span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"></span></i><br />
<i style="color: #990000; font-family: Arial,Helvetica,sans-serif;">Canadian financial markets and institutions will be closed Monday.</i><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="color: #990000; font-size: x-large;"><span style="color: black;">TORONTO </span></span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>FRIDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Toronto Stocks Mixed Higher Friday</span><br />
<br />
Toronto stocks closed modestly higher Friday, led by mining companies, with Canada's benchmark index capping 2010 as it spent much of the year -- outperforming the S&P 500 index. The Toronto stock market closed little changed on the final day of 2010, as mining stocks benefited from record high copper, silver, gold, and platinum prices.The S&P/TSX composite index gained 8.81 points to 13,443.22 with most other sectors negative, adding up to a solid double-digit gain on the year.<br />
<br />
The TSX Venture Exchange rose 26.16 points to 2,287.85 for a surge of 767 points or 50.4 per cent this past year.<br />
<br />
The Canadian dollar closed above parity against the American currency, up 0.54 to 100.54 cents U.S., its highest close since May 2008.<br />
<br />
The TSX ended 2010 up 1,697.11 points or 14.45 per cent, led by a 47 per cent surge in the base metals sector. The surge reflected a 33 per cent rise in the price of copper, on demand from China and other emerging markets.<br />
<br />
The Toronto gold sector was ahead about 26 per cent for 2010 as the precious metal smashed through record highs a number of times during 2010 as investors looked for a safe haven amid inflation worries and a hedge against weaker currencies.<br />
<br />
The energy sector advanced about 8.6 per cent as oil prices ran ahead 15 per cent, while the other big weighting on the TSX, the financials group, finished the year up 4.4 per cent.<br />
The tech sector was up 4.7 per cent while shares in sector leader Research In Motion Ltd. (TSX:RIM) fell about 18 per cent as investors worried about competition from other devices including Apple's iPhone.<br />
<br />
On Friday, the base metals group climbed 0.4 per cent as copper prices moved further into record territory as the March contract on the New York Mercantile Exchange rose eight cents from Thursday’s latest record close to US$4.45 a pound. <br />
Teck Resources (TSX:TCK.B) gained 83 cents to $61.79 while Quadra FNX Mining (TSX:QUX) was ahead 19 cents to $16.75.<br />
<br />
<br />
Gold stocks also advanced as bullion made headway with the February contract on the Nymex ahead $15.50 to US$1,421.40 an ounce. Goldcorp Inc. (TSX:G) gained 54 cents to $45.88 while Barrick Gold Corp. (TSX:ABX) ran up 51 cents to $53.12.<br />
<br />
The TSX energy sector was slightly lower even as oil prices moved ahead after losing ground in the wake of data Thursday which showed a much smaller than expected decline in U.S. crude inventories in the latest week. The February crude contract in New York was up $1.54 to US$91.38 a barrel. Cenovus Energy (TSX:CVE) was ahead 33 cents to $33.28 while Talisman Energy (TSx:TLM) shed 13 cents to $22.12.<br />
<br />
The telecom sector was up about 12 per cent for the year, but was the leading laggard on the TSX Friday with Telus Corp. (TSX:T) down 46 cents to $45.48.<br />
<br />
In corporate news, global steel giant ArcelorMittal has increased its bid for Baffinland Iron Mines Corp. (TSX:BIM) to $1.40 per share cash, matching the price offered by rival Nunavut Iron Ore Acquisition Inc. ArcelorMittal is offering to buy 100 per cent of Baffinland, whereas Nunavut Iron is proposing to acquire just 60 per cent of the company. Baffinland shares ran ahead five cents to $1.43.<br />
<br />
Imax Corp. (TSX:IMX) shares rose $1.16 to $28.04 after earlier going as high as $32.56 after Britain’s Daily Mail newspaper reported that Sony Corp. was eyeing the theatre system company for a takeover. However, the company issued a statement Friday afternoon saying it was not aware of any corporate developments that would account for the stock movement.<br />
Shares of Ottawa-based Wi-LAN Inc. (TSX:WIN) gained 40 cents to close at $6.40 after the company said a U.S. district court’s ruling bodes well for the technology company’s defence of one of its patents.<br />
<br />
SeAH Holdings Corp. of Seoul, South Korea, has substantially increased its holdings of Avanti Mining Inc. (TSXV:AVT) through a private placement and now owns nearly 13 per cent of the Vancouver-based company’s common shares. Avanti shares edged up two cents to 35.5 cents.<br />
Parkland Income Fund (TSX:PKI.UN), Canada’s largest independent fuel distributor has acquired Island Petroleum Products Ltd. of Prince Edward Island in a cash and equity deal valued at $22.6 million. Its units were up nine cents at $11.49.<br />
<br />
<br />
The stock market was higher at midday Friday in a quiet New Year's Eve session, led by mining companies, on the final day of a year that saw the S&P/TSX Composite once again outperform the S&P 500. The TSX Venture Exchange was trading at 2,273.25 on Friday, up 11.56 points. The volume at noon was at 128.9 million shares. The Canadian dollar closed at 100.54 cents US on Friday, up 0.54 of a cent.The U.S. dollar stood at 99.46 cents Cdn, down 0.54 of a cent. Pound sterling closed at C$1.5513, up 0.86 of a cent, and US$1.5597, up 1.70 cents. The euro was worth C$1.3319, up 0.31 of a cent. Quotations provided by BMO Capital Markets.<br />
<br />
At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was up 9.21 points, or 0.1%, at 13443.62. Advances led declines 720 to 536. Trading volume was light at 102 million shares. The S&P/TSX 60 Index was down 0.45 points, or 0.1%, to 767.53. <br />
<br />
Materials is the only sector in the green Friday, while all others remain in the red by 10 am. <br />
Before the open, with precious metal rising, the Toronto stock market looked for mining stocks to provide a lift on the final trading day of 2010 as gold prices ran ahead and copper prices hit new records for a third day.Bullion was also higher with the February contract on the Nymex ahead $6.70 to US$1,412.60 an ounce.<br />
<br />
The TSX is set to end 2010 up almost 1,700 points or 14.3 per cent, led by a 46 per cent surge in the base metals sector, reflecting a 30 per cent rise in the price of copper on higher demand from China and other emerging markets. .<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">The Canadian Dollar Opened at 100.18 cents</span> <br />
<br />
Canadian dollar opened on Friday at 100.18 cents US, up 0.18 of a cent. The Canadian dollar opened at 100.18 cents US, up 0.18 of a cent from Thursday's close. The U.S. dollar stood at 99.82 cents Cdn, down 0.18 of a cent. Pound sterling was worth C$1.5493, up 0.66 of a cent and US$1.5521, up 0.94 of a cent. The euro was worth C$1.3358, up 0.70 of a cent.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canada Bonds Move Higher </span><br />
Canadian bond prices moved higher Friday, as the market closed its books for 2010. <br />
<br />
Canada's two-year bond yield was at 1.668% Friday, from 1.692% late Thursday. The 10-year bond yield was at 3.126%, from 3.151%. Bond yields and prices move in opposite directions. <br />
<br />
The modest rally in bonds was largely driven by year-end pressures and position-squaring, said Paul Ferley, assistant chief economist at RBC Capital Markets in Toronto. <br />
<br />
Canadian markets were open Friday, but bond trading closed at 1 p.m. EST (1800 GMT) in advance of the New Year's Day holiday. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>Toronto Indexes, Friday Volume; 4:15 PM EST Composite Up 8.81<br />
<br />
</b>S&P/TSX Composite 13443.22 up 8.81 or 0.1%<br />
S&P/TSX 60 Index 768.65 up 0.67 or 0.1%<br />
Financials 183.86 up 0.18 or 0.1%<br />
Materials 446.61 up 3.06 or 0.7%<br />
Energy 323.18 off 0.34 or 0.1%<br />
Industrials 110.22 off 0.20 or 0.2%<br />
IT 30.70 off 0.09 or 0.3%<b><br />
<br />
Volume Friday Thursday<br />
</b>3-4:15 63.7M 49.6M<br />
9:30-4:15 247.4M 295.1M<br />
<br />
<br />
<br />
<b>THURSDAY: </b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Toronto Stocks Mixed To Lower </span><br />
The Toronto stock market was stuck in the red Thursday afternoon as energy and gold stocks fell alongside lower prices for bullion and oil.<br />
<br />
<br />
The S&P/TSX composite index slipped 31.38 points to 13,417.8 as the market found support from mining stocks after strong Chinese economic data helped push copper prices deeper into record territory. The TSX Venture Exchange was 6.81 points higher to 2,250.39 in thin, yearend trading. The Canadian dollar was ahead 0.01 of a cent against the American currency to 99.95 cents US.<br />
<br />
Canadian Natural Resources (TSX:CNQ) moved down 22 cents to $44.08 while Cenovus Energy (TSX:CVE) fell 26 cents to $32.97.<br />
<br />
Gold prices backed away with the February bullion contract in New York off $7.90 to US$1,405.60. Gold spot price was quoted at C$1,405 bid (US$1,405) and C$1,406 asked (US$1,406) at the close of trading Thursday at Travelex Canada Ltd., a major gold and foreign exchange dealer. At the close, silver spot price was quoted at C$30.54 bid (US$30.54) and C$30.59 asked (US$30.59) .<br />
<br />
<br />
The TSX global gold sector faded 0.74 per cent as Goldcorp Inc. (TSX:G) declined 32 cents to $45.31 and Barrick Gold Corp. (TSX:ABX) lost 39 cents to $52.74. The TSX base metals sector gained 0.23 per cent as the March copper contract rose six cents to US$4.37 a pound.<br />
<br />
The HSBC China Manufacturing Purchasing Managers Index dipped to a three-month low of 54.4 in December from November’s 55.3 on a 100-point scale where numbers above 50 show activity expanding. Production still expanded at a steep pace in December and didn’t slow enough to allow factories to cut down on order backlogs, HSBC said.<br />
<br />
Strong demand from emerging economies such as China's has pushed copper prices up more than 30 per cent during 2010. Teck Resources (TSX:TCK.B) gained $1.01 to $60.92 while Western Coal Corp. (TSX:WTN) advanced 16 cents to $12.37.<br />
<br />
Research In Motion Ltd. (TSX:RIM) is disputing a report in The Economic Times of India that it has offered to install a “network data analysis” system at its location in India to resolve a dispute with the government. India views encrypted communications over RIM’s BlackBerry system as a potential security threat. RIM shares dipped 14 cents to $58.01. <br />
<br />
Shares in GWR Global Water Resources Corp. (TSX:GWR) began trading for the first time at $7.40 on the Toronto Stock Exchange Thursday. The company had set an initial public offering price of $7.50 per common share.GWR owns 46.4 per cent of a company that operates water utilities near Phoenix, Arizona. The company brought in $61.4 million from the initial public offering. It said it would use the money to expand its technology into more municipalities and build upon its existing base of customers.<br />
<br />
<br />
At mid-day trading the S&P Composite was down 42 point in light volume.The stock market was lower at midday Thursday, as the energy sector joined the heavily weighted materials and financial groups in the red after crude oil fell and natural gas futures pared their gains. Canadian dollar is up 0.06 of a cent to 100 cents US at 11 a.m. ET Thursday. <br />
<br />
At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was down 33.37 points, or 0.2%, at 13415.80. Declines led advances 678 to 633. Trading volume was 136.3 million shares. The S&P/TSX 60 Index was down 2.13 points, or 0.3%, to 766.36.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Prices were mixed in mid-morning trading</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;"> at ICE Futures Canada on Thursday.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Canola:Jan ’11 $1.20 lower $576.10; March ’11 $2.00 lower $583.90; May ’11 $2.20 lower $588.40; July ’11 $1.00 higher $591.00; Nov. '11 $2.10 higher $529.50; Jan. '12 unchanged $532.00; March '12 unchanged $534.40; May '12 unchanged $531.70; July '12 unchanged $530.40; Nov. '12 unchanged $499.00; Jan. '13 unchanged $499.00.<br />
<br />
Barley (Western):March '11 unchanged $194.00; May '11 unchanged $194.00; July '11 unchanged $194.00; Oct. '11 unchanged $185.00; Dec. '11 unchanged $190.00; March '12 unchanged $190.00; May '12 unchanged $190.00; July '12 unchanged $190.00; Oct. '12 unchanged $190.00; Dec. '12 unchanged $190.00; March '13 unchanged $190.00.<br />
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<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CANADA SLASHES BUSINESS LEVIES</span><br />
Canada is poised to cut its corporate-tax rate to 16.5% on Jan. 1, part of a decade-long campaign that some experts say is making the country one of the most cost-effective places to do business in the developed world.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CANADIANS TO PAY MORE IN 2011 TAXES</span> <br />
For a year of little tax changes, Canadians will still be paying quite a bit more to governments and public agencies starting on Jan. 1, 2011. <br />
<br />
For working Canadians, 2011 will go down as the year they saw their net pay stubs shrink, in some cases by significant amounts. All workers will be paying higher premiums for employment insurance and the Canada Pension Plan, adding up to $76 more on anyone earning greater than $44,200.<br />
<br />
But a quirk in the way Ottawa indexes tax brackets to adjust for inflation means most Canadians will be paying higher income taxes as well, says the Canadian Taxpayers Federation.<br />
<br />
According to the federation's calculations, some families in Ontario, where inflation was highest last year, will wind up paying more than $1,000 in taxes in 2011 compared with 2010.<br />
<br />
On average, a family with one earner and an income of $45,000 will pay about $184 more in taxes next year. A similar family with an income of $100,000 will pay $437 more. In Ontario, those same families will wind up paying $390 and $1,077 more respectively, according to the lobby group.<br />
<br />
<br />
<br />
<b>WEDNESDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Toronto Stocks Higher Wednesday</span><br />
The Toronto S&P composite closed 66 points higher Wednesday led by materials. The stock market was higher at midday Wednesday, as near-record gold and copper prices lifted commodity and materials issues. The Canadian dollar was stronger Wednesday, trading at parity with its U.S. rival for most of the session in a very thin, holiday market. <br />
<br />
The U.S. dollar was at C$1.0004 at 3 p.m. EST (2000 GMT) Wednesday, from C$1.0020 at 8 a.m. EST and C$1.0044 late Tuesday, according to data provider CQG. The U.S. dollar touched an overnight low of C$0.9969 <br />
<br />
At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was up 42.33 points, or 0.3%, at 13425.49. Advances led declines 901 to 552. Trading volume was light at 172.6 million shares. The S&P/TSX 60 Index was up 1.59 points, or 0.2%, to 766.40. <br />
<br />
In late morning trading under a low volume, the TSX composite was up 40 points to 13,423.96 led by the materials sector. The Toronto stock market enjoyed a higher open Wednesday following a four-day Christmas break with mining stocks expected to catch up to a sharp run up in copper prices, and news from the weekend that China is again raising a key interest rate. Toronto gold quoted at C$1,405 bid, C$1,406 asked in mid-morning trading. The TSX Venture Exchange opened on Wednesday at 2,223.30, up 35.90 points. <br />
<br />
The Canadian dollar gained ground against the American dollar, rising 0.22 of a cent from Friday's close to 99.73 cents US.<br />
<br />
In the mining sector, Nunavut Iron Ore Acquisition Inc. has raised its offer to buy Baffinland Iron Mines Corp. (TSX:BIM) to $1.40 per share for 60 per cent of Baffinland shares.<br />
<br />
Other commodity prices softened Wednesday morning with the February bullion contract on the Nymex down 30 cents to US$1,405.30 an ounce while the February crude contract in New York lost 51 cents to US$90.98 a barrel.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Consumer Confidence Ends 2010 Stable</span><br />
Canadian consumer confidence has become more subdued, despite an upswing early in 2010. A Harris/Decima study done for the Investor's Group measured consumer confidence at 82.8 in November, little changed from the third quarter.<br />
<br />
Harris/Decima says consumer confidence hit a post-recession high of 89 in February, but fell for two quarters. The poll results are consistent with a consumer confidence report issued last week by the Conference Board of Canada. <br />
<br />
<br />
<br />
<br />
<i style="color: #990000;"></i></div><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Canola Futures Prices Higher</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Prices were higher in mid-morning trading at ICE Futures Canada on Tuesday. </b></i> </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Canola:Jan ’11 $5.40 higher $584.00; March ’11 $5.50 higher $592.00; May ’11 $4.80 higher $595.20; July ’11 $4.00 higher $594.50; Nov. '11 $1.00 higher $528.70; Jan. '12 unchanged $534.60; March '12 unchanged $537.00; May '12 unchanged $534.30; July '12 unchanged $533.00; Nov. '12 unchanged $504.00; Jan. '13 unchanged $504.00.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Barley (Western):March '11 unchanged $194.00; May '11 unchanged $194.00; July '11 unchanged $194.00; Oct. '11 unchanged $185.00; Dec. '11 unchanged $190.00; March '12 unchanged $190.00; May '12 unchanged $190.00; July '12 unchanged $190.00; Oct. '12 unchanged $190.00; Dec. '12 unchanged $190.00; March '13 unchanged $190.00.</div><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chamber Sees </span></span><span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Subdued </span></span><span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Economy 2011 </span> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The Canadian Chamber of Commerce says the domestic economy faces subdued growth in the new year as an initially strong economic rebound from the recession transitions into a more sluggish expansion.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span> <br />
<div style="font-family: Arial,Helvetica,sans-serif;">In its annual outlook for 2011, the chamber says Canadians are focused on "more prudent spending" as they work to repair their own financial situations.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The Canadian economy is projected to grow at an average annual rate of less than 2.5 per cent in 2011, it said in the report released Monday.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">That's after the domestic economy expanded at a "sluggish" 2.3 per cent annual rate in the second quarter and a much slower one per cent rate in the third quarter.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">"The Canadian economy is chugging along but not at full steam," said chamber president and CEO Perrin Beatty in a statement.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Government spending and stimulus programs are winding down and will make a "considerably smaller contribution" to the growth of real GDP in 2011, the chamber said.</div><br />
<div style="font-family: Arial,Helvetica,sans-serif;">The chamber said it expects the Bank of Canada to keep interest rates steady until the summer, with the overnight rate climbing to two per cent by the end of next year, and three per cent by the end of 2012.</div><br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">South American Markets:</span><br />
<br />
<br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">BRAZIL:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>THURSDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil's Coffee Growers Face Rains</span><br />
<br />
Minas Gerais, Brazil's largest coffee-producing state, faces continuing rains, according to a forecaster at private weather service Somar. The rains, which foster the growth of fungus, "have not stopped" in the state, said Celso Oliveira, a meteorologist at Somar in Sao Paulo. <br />
<br />
The rains are falling more heavily in the coffee-growing regions of Minas Gerais than in the parts of the state raising corn, according to Oliveira. One coffee-producing region in the state bordering Espirito Santo state has had 320 millimeters of rain since Dec. 22, though 100 millimeters would be normal, the meteorologist said. <br />
<br />
Rains in Minas Gerais state caused the death of four more people Thursday, daily Folha de Sao Paulo reported. Eleven people have died this week in the state because of the heavy rains, Folha said in its report. <br />
<br />
Brazil is the world's largest coffee producer and exporting country. It is the world's second-largest coffee consumer country after the United States.<br />
<br />
<br />
<br />
<b>WEDNESDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazilian Stocks Close Higher Wednesday</span><br />
Stocks closed higher Wednesday spurred by encouraging data on inflation and a rise in Petroleo Brasileiro SA (PBR.PETR4.BR) share values following positive developments on oil and gas reserves. <br />
<br />
The Ibovespa index of blue-chip companies closed at 68,952 points, up 1.34% on Tuesday's close of 68,040 points and its highest since Dec. 13. <br />
<br />
The Bovespa exchange's trading values marched steadily higher after Brazil's Getulio Vargas Foundation announced encouraging news on inflation early in the day. Brazil's general price inflation as measured by the IGP-M index slowed to 0.69% in December, from 1.45% in November, and below the 0.77% median expectation of economists surveyed by the local Estado news agency. <br />
<br />
The drop was led by declining inflation in the country's important agricultural goods sector, which fell to 1.15% from 5.43% the previous month. The December data was interpreted by traders as positive for the markets despite the overall leap in Brazilian inflation rates this year. <br />
<br />
Petrobras closed 1.16% higher at BRL26.97 ($16.05) after it declared the giant Tupi and Iracema presalt oil and gas areas commercially viable in a document sent to Brazil's National Oil Regulator ANP. <br />
<br />
he two fields hold a total of 8.3 billion barrels of oil equivalent recoverable volume, which will boost registered reserves of the company and its partners at the sites, BG Group PLC (BG.LN) and Galp Energia SGPS SA (GALP.LB). <br />
<br />
"The market expects a substantial increase in Petrobras' proven reserves when these are announced in January 2011, above the 14.8 billion barrels of oil and gas reserves announced in January this year," a Petrobras spokesman said. <br />
<br />
Brazilian President Luiz Inacio Lula da Silva's confirmation that Petrobras CEO Jose Sergio Gabrielli will remain in his post under Brazil's new government which takes office Jan. 1 also was well received by Petrobras investors. <br />
<br />
Miner Vale (VALE, VALE5.BR) recovered from earlier in the week after the news that spot iron ore prices for sale to China, the company's main buyer, rose to close to their highest this year, at $177 per metric ton. The iron ore price has risen 21% over the last quarter. Vale shares rose 0.43% to BRL48.51. Miner MMX Mineracao e Metalicos SA (MMXM3.BR), which has a Chinese partner, rose 3.21% to BRL11.24. <br />
<br />
Steel maker Usinas Siderurgicas de Minas Gerais SA (USIM5.BR), or Usiminas, gained 2.79% to BRL18.82 after it registered an accounting gain of BRL890 million on the sale of a 30% stake in its iron-ore business to Sumitomo Corporation. Sumitomo made an extra payment above the value stipulated in the stake sale as a cushion in case of future needs. <br />
<br />
The exchange's best performer was paper company Klabin SA (KLBN4.BR), which registered a 4.60% gain to BRL5.91. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil's Government Finances Fall Into the Red </span><br />
Brazil's public sector finances fell deeper into the red in November, adding to concerns over spending, inflation and interest rates. <br />
<br />
The government's primary budget surplus for the rolling 12-month period fell to 2.51% of gross domestic product, from 2.85% of GDP in October, according to central bank data published on Wednesday. Including interest payments on debt, the nominal deficit increased to 2.74% of GDP at the end of November. <br />
<br />
Officials have admitted that it will be tough to meet the country's fiscal targets for 2011, and economists said the November results make that all but impossible. <br />
<br />
Tax revenues have soared thanks to the rebounding economy, with GDP expected to rise more than 7.5% this year. But public sector spending has kept pace, initially as a response to the global economic crisis and also in the run-up to October's national elections. <br />
<br />
<br />
<br />
<br />
<b>TUESDAY: </b><br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazil Stocks Move Higher Tuesday</span></div>Brazilian stocks edged higher early Tuesday, helped along by European markets which were higher in thin trading, although U.S. stocks threatened the fragile gains after some disappointing data on housing prices and consumer confidence.<br />
<br />
In Sao Paulo, the Ibovespa index ended up 0.4% at 68,040.94 points, led by telecoms and mining stocks. The index is still down since the beginning of the year, by 0.8%. <br />
<br />
One of the major blue chips, oil giant Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, helped keep stocks higher, amid one of the day's strongest performances. Its preferred shares ended up 2.3% at BRL26.66. Oil futures traded higher Tuesday as the dollar fell and hit a record low against the Swiss franc and cold weather persisted across the northern hemisphere. <br />
<br />
The Ibovespa index was up 0.2% at 67,923.7 points, amid thin holiday week trading. <br />
<br />
Spain's Telefonica SA (TEF) said that, as had been expected, it will incorporate its Brazilian fixed and mobile phone operators into one of its Brazilian units, Telecomunicacoes de Sao Paulo (TLPP4.BR), or Telesp. Earlier this year, Telefonica acquired the 50% stake in leading cellular operator Vivo Participacoes (VIV) which it didn't already own from Portugal Telecom SGPS SA (PT). <br />
<br />
The companies said that a reduction in costs is expected from the restructuring, but didn't provide details. Executives have previously said that they eventually expect all operations in Brazil to use the Vivo brand. <br />
<br />
The price for the merger hasn't been divulged, but Vivo shares were among the biggest gainers on Tuesday, rising 2.3% to BRL53.75. Telesp shares were up 0.5% at BRL40.76. <br />
<br />
The board of Brazil's largest retailer, Companhia Brasileira de Distribuicao (PCAR5.BR), has authorized the company to raise 610 million Brazilian reais ($358 million) from the issue of non-convertible debentures, the company said late Monday in a statement. The debentures will mature on Jan. 5, 2014 and the company is proposing to pay an annual interest rate of 7.75 percentage points over the variation of local interbank rate called DI. <br />
<br />
CBD's shares were up 0.4% at 68.30. <br />
<br />
Brazilian education company Anhanguera Educacional Participacoes SA (AEDU3.BR) said Tuesday that international investors bought 75% of its primary offering of shares on the Brazilian Stock Exchange, or BMFBovespa. The company raised a total of 844 million Brazilian reais ($496 million) from the offer. <br />
<br />
Anhanguera sold 23 million shares, with each priced at BRL36.70. International investors acquired 17.27 million shares. The company said it will use the proceeds from the offer to finance expansion plans, which includes acquisitions.<br />
<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil November Surplus BRL1.1B Vs BRL10.7B</span><br />
Brazil's central government continued to increase its operating surplus in November, though possibly not at a fast enough pace to meet its target for this year, the government reported Tuesday. <br />
<br />
The central government, which includes the treasury, the publicly administered social security system and the central bank, posted a 1.09 billion Brazilian real ($646 million) primary budget surplus in November. <br />
<br />
The November result, which came within market forecasts, narrowed from a BRL7.72 billion surplus in October this year, and from a BRL10.7 billion surplus in November 2009. <br />
<br />
The November result brought the country's central government budget surplus for the first 11 months of the year to BRL64.56 billion, or the equivalent of 1.95% of gross domestic product. <br />
<br />
Brazil's government has pledged to post a consolidated public sector primary budget surplus this year equivalent of 3.1% of GDP. The consolidated public sector result includes state and local government and state-controlled company results, in addition to the central government result. <br />
<br />
The latest central government monthly surplus was composed of a federal treasury surplus of BRL5.67 billion, a social security administration deficit of BRL4.24 billion, and a central bank deficit of BRL152 million. <br />
<br />
Brazil's federal tax department posted November revenue collection of BRL71.1 billion, down from record revenue of BRL74 billion in October. Revenue during the first 11 months of the year rose by BRL139 billion, or 24.6%, from the same period in 2009, in line with a 24.6% increase in expenditures. <br />
<br />
The increase in revenue was due in large part to more than BRL74 billion in payments for oil exploration rights, as well as rising industrial production and economic activity. <br />
<br />
The November central government figures reported Tuesday are a key component of consolidated public sector results, scheduled for release by the country's central bank Wednesday. <br />
<br />
In October, Brazil posted a 12-month consolidated public sector primary surplus of BRL63.38 billion, or 2.19% of gross domestic product.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazil's Soy Quotes Rise</span></div><br />
<i><b>Brazil is the world's second-largest producer of soybeans after the United States.</b></i> <br />
<br />
Brazilian soy prices on Tuesday rose because of the drought in neighboring Argentina, although traders reported little business in advance of the year-end holidays. <br />
<br />
Soybeans were quoted at $26 for a 60-kilogram (132 pounds) bag for delivery next April 30 in Rondonopolis in Brazil's Mato Grosso state, Samir Rosa, a trader at Diversa Corretora de Cereais, told Dow Jones by telephone. "This is one dollar more than a week ago," he said. <br />
<br />
Quotations rose by 4% from a week ago because of the continued drought in Argentina, Rosa said. Diversa Corretora de Cereais is based in Rondonopolis, an agricultural center in Mato Grosso, Brazil's largest soy-producer state. <br />
<br />
Though quotations rose, there were no transactions Tuesday, according to Rosa. Many soy traders were on holiday and couldn't be reached in advance of the year-end holiday and the beginning of harvesting of Brazil's 2010-11 soy crop in January.<br />
<br />
Soybeans for January delivery, the nearby contract, advanced but failed to take out a 28-month high of $13.85 1/4 set in overnight trading, this news service reported earlier Tuesday. The contract recently was up 9 1/2 cents, or 0.7%, at $13.82 1/2. <br />
<br />
Grupo Bom Jesus increased the area it planted to soybeans 10% to 110,000 hectares for the 2010-11 crop it began harvesting this week. Vigolo termed the beginning of harvesting incipient and said collecting the crop will begin in earnest in the Jan. 10-15 period, according to Agencia Estado. <br />
<br />
<br />
<b>MONDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Move Lower Monday</span><br />
<br />
The benchmark Ibovespa stock index closed at 67803 points, a 1% decline from Thursday's close of 68485 points. Markets were closed Friday for the Christmas holiday. <br />
<br />
A weekly Brazil central-bank survey of economists placed the 2010 year-end forecast for the IPCA inflation rate at 5.90%, up from 5.88% a week earlier. Economists also increased their average estimate for 2011 inflation to 5.31% from 5.29%, above the central bank's inflation target of 4.5% for the year. <br />
<br />
JBS SA (JBSS3.BR), the world's biggest beef producer, fell the most on the index, after announcing plans to sell four billion Brazilian reais ($2.36 billion) of convertible debentures. JBS dropped 3.4% to BRL7.31. <br />
<br />
Stocks also retreated on higher rates in China, the biggest trade partner of commodity exporting Brazil. The People's Bank of China issued a statement Saturday on its website announcing a 25-basis-point increase to both its one-year lending and one-year deposit rates. <br />
<br />
Vale SA (VALE5.BR, VALE), the world's biggest iron-ore producer, which sells most of its ore to China, dropped 1.9% to BRL49.10. <br />
<br />
Brazil's blue-chip stocks were mostly lower in Monday trading. <br />
<br />
Government-controlled energy giant Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, advanced 1.2% to BRL26.05. Usinas Siderurgicas de Minas Gerais (USIM5.BR, USNZY), Brazil's biggest maker of flat steel for the automotive industry, retreated 1.4% to BRL18.70. Telephone giant Tele Norte Leste SA (TNE, TNLP4.BR), or Oi, slipped 1.4% to BRL23.97.Minas Gerais utility Cemig (CIG, CMIG4.BR) fell 1.2% to BRL26.47. Aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), or Embraer, dropped 2.7% to BRL11.87.<br />
<br />
Brazilian stocks opened lower Monday as domestic inflation expectations rose and trade partner China raised rates in its first steps to cool growth.<br />
<br />
<br />
<h1 class="top_head" style="font-family: Times,"Times New Roman",serif; font-weight: normal;">Brazil Gov. Statistics Bureau Reports Record Employment</h1><h1 class="top_head" style="font-weight: normal;"></h1>New government statistics say Brazil has record employment levels — and even shortages of workers in some sectors. Monday's report from the government's IBGE statistics bureau on Monday shows the lowest level of unemployment ever recorded, 5.7 per cent.<br />
<br />
Employers in sectors ranging from construction to retail say they're not finding enough workers to meet needs. Banking group Santander has delayed contracting 1,200 people in Brazil because of difficulty finding applicants. Bradesco bank raised the wages of managers to avoid poaching by competitors.<br />
<br />
Labor unions say Brazil's heated economy has led to above-inflation wage increases in nearly all sectors.<br />
<br />
<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">MEXICO:</span><br />
<br />
<b>FRIDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico's Stocks Open Higher, Adding To Record Close</span><br />
<br />
Mexican stocks gained in early trading Friday after the previous session's record close, as volume thinned in the last trading day of the year. <br />
<br />
The IPC index of the 35 most-traded stocks was gaining 0.2% to 38,316 points at about 10:35 a.m. EST on volume of 4.3 million shares worth 131.4 million pesos ($10.6 million). <br />
<br />
Silver mining company Industrias Penoles (PE&OLES) gained 2.6% to MXN452.48 as silver prices hovered near record levels. Mexico's largest retailer Wal-Mart de Mexico's (WMMVY, WALMEX.MX) V shares were rising 0.4% to MXN35.38. <br />
<br />
Global cement and building materials company Cemex's (CX, CEMEX.MX) CPO shares fell 0.2% to MXN13.25. Latin America's biggest cellular provider America Movil's (AMX, AMX.MX) L shares were 0.1% lower at MXN35.13. <br />
<br />
The Mexican peso was gaining against the U.S. dollar and was quoted in Mexico City at MXN12.3550 to the dollar, according to Infosel, versus Thursday's close of MXN12.3795.<br />
<br />
<br />
<br />
<br />
<b>WEDNESDAY: </b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico Stocks Close Higher, Near Record </span><br />
Mexican stocks closed 0.2% higher on Wednesday, just one point shy of last week's record, with mining issues leading the charge toward what many investors believe will be a year of solid expansion in 2011. <br />
<br />
The IPC index of the 35 most-traded issues mounted a late-session rally to settle at 38,230 points on light volume of 67.1 million shares worth 2.14 billion pesos ($173 million). The index had reached a record close of 38,231 points on Dec. 21. <br />
<br />
Mining company Industrias Penoles (PE&OLES) shares rose 3.6% to MXN437.29. Penoles is the parent company of London-listed Fresnillo PLC (FRES.LN), the world's biggest primary silver producer. In commodities markets, silver futures gained and were near a record high. <br />
<br />
Global copper mining giant Grupo Mexico (GMEXICO.MX) B shares gained 1.2% to close at MXN49.77. Copper futures also hovered near record levels. <br />
<br />
Mexico's largest retailer Wal-Mart de Mexico (WMMVY, WALMEX.MX) V shares fell 0.2% to MXN34.94, and Latin America's biggest wireless provider America Movil (AMX, AMX.MX) L shares slipped 0.2% to MXN35.13. <br />
<br />
The Mexican peso gained against the U.S. dollar and was quoted in Mexico City at MXN12.3715 versus Tuesday's close of MXN12.3960. <br />
<br />
<br />
<b>TUESDAY: </b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico's Stocks Open Higher Close Flat Tuesday</span><br />
Mexico's stocks opened higher Tuesday, with U.S. equities mixed following reports of strong holiday spending but weaker-than-expected consumer confidence and house pricing. <br />
<br />
The market's IPC index of leading issues was up 0.1% around 10:20 a.m. EST to 38163 points. Volume was a light 5.7 million shares worth 159 million pesos ($12.9 million). <br />
<br />
Among the most active gainers, cement company Cemex CPO shares were up 0.3% to MXN13.10, and copper mining company Grupo Mexico B shares were rising 0.3% to 49.02 as copper prices rose on a weaker dollar. Retailer Wal-Mart de Mexico V shares were 0.5% higher at MXM35.41. <br />
<br />
The peso was stronger against the dollar, which was losing ground against the euro, the yen and the Swiss franc. The peso was quoted in Mexico City at MXN12.3415 to the dollar, according to Infosel, compared with MXN12.3745 at the close Monday. <br />
<br />
The Bank of Mexico reported that foreign reserves increased by $1.11 billion last week to a record $113 billion on Dec. 24. Mexico's reserves have risen by more than $22 billion this year, bolstered by oil dollars, federal government foreign borrowing and the purchase of dollars under put options. <br />
<br />
Last week the central bank bought $495 million under the options, bringing to $501 million the amount of December's $600 million in options that have been exercised so far. <br />
<br />
Mexico applied this month to extend its flexible contingency credit line with the International Monetary Fund for two years and expand the amount available to $73 billion from $48 billion, leading to some speculation the exchange commission--formed by government and central bank officials--could reduce the amount of the dollar options in 2011 as the need to accelerate reserve accumulation diminishes. <br />
<br />
<b>MONDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico's Stocks Close Higher, Peso Strengthens</span><br />
<br />
The benchmark IPC index of 35 most-traded shares closed up 0.1% at 38133 points. Volume was a light 50.9 million shares worth 1.48 billion pesos ($119.6 million). <br />
<br />
Mexico's stocks resumed trading around midday Monday after technical problems led operations to be halted. The market resumed operations at 12:52 p.m. EST. The market's benchmark IPC index was down 0.3% at 37,959 points around 1:10 p.m. EST.<br />
<br />
Trading on the Mexican stock exchange was halted mid-morning Monday owing to technical issues, the exchange confirmed. Trading stopped at 10:47 a.m. EST. The market's benchmark IPC index was off 0.3% at 37967 points .<br />
<br />
Mexican stocks opened lower Monday. Mining company Grupo Mexico B shares rose 1.1% to MXN48.86, home builder Geo B shares rose 0.3% to MXN44.79, and phone company Telmex L shares rose 0.9% to MXN9.96. <br />
<br />
Bellwether America Movil L shares finished 0.2% lower at MXN34.94 and cement company Cemex CPO shares closed down 0.3% at MXN13.06. <br />
<br />
Trading was halted for about two hours during the morning because of technical problems. The interruption had little effect on the market, which was already showing low holiday volume. <br />
<br />
A Mexico City equities trader said he doubted that the final week of this year would see a major runup in local stocks, which had eased from a record high in recent sessions. <br />
<br />
"The market's at a good level. Some people might like to push it up a bit for the close of the year, but without spending much money," the trader said. <br />
<br />
The Chinese interest-rate increase put pressure on the U.S. dollar, and also on Mexico's peso which, after opening stronger, closed slightly weaker at MXN12.3745, according to Infosel, compared with MXN12.3610 Friday. <br />
<br />
"China will have an initial unfavorable effect on global markets, affecting the peso as the effect of the increase is digested," the Actinver brokerage said in a report, in which it added that it expects the peso to trade between MXN12.35 and MXN12.4150 this week. <br />
<br />
On the local debt market, the yield on benchmark 10-year government bonds closed flat at 7.02%, and the yield on 20-year bonds due 2029 rose four basis points to 7.73%. <br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">CHILE:</span><br />
FRIDAY: <br />
<i style="color: #990000;">Markets, businesses and government offices in Chile will be closed Friday for the New Year's eve holiday. </i><br />
<br />
<b>THURSDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Close Higher, </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Cap 37.6% Rise In 2010</span><br />
<br />
Chile's blue-chip Ipsa index higher Thursday, capping its meteoritic 37.6% rise during 2010 which was greatly slowed in the final quarter of the year. <br />
<br />
The Ipsa rose 0.8% to 4927.53, while volume surged to an unusually high 373.1 billion Chilean pesos ($798.5 million), compared with volume of CLP287.1 billion the prior session. <br />
<br />
With the end of year approaching, volume and share prices rose as investors shuffled around their portfolios and snapped up stocks for accounting and tax purposes, traders said. <br />
<br />
The Ipsa's strong gains this year came on the back of robust domestic demand and strong investments--which fueled corporate bottom lines--as Chile quickly recovers from last year's recession and February's devastating earthquake. <br />
<br />
Chile's gross domestic product is expected to grow 5.2% in 2010 from 2009, while domestic demand is forecast to jump 16.1%, according to the central bank. <br />
<br />
At the outset of 2010, analysts expected the Ipsa to end the year between 4,000 and 4,100 points. <br />
<br />
During the fourth quarter, the Ipsa rose a much more modest 2.8% following the sharp rise during the preceding three quarters. The Ipsa's rise slowed after breaking the psychological barrier of 5,000 points, as some speculated the index had risen too quickly, and then posted an accumulated loss of 3.7%, prior to this Wednesday's and Thursday's gains, after the central bank said on Monday last week that the select-stock index was "overvalued." <br />
<br />
Retailers have been among the Ipsa's biggest gainers as domestic demand and consumer confidence rebounded. <br />
<br />
Among retailers, retail holding giant Cencosud (CENCOSUD.SN) gained 1.3% to CLP3,680.00, and the nation's largest department store Falabella (FALABELLA.SN) rose 1.5% to CLP5,257.80. <br />
<br />
Commodities-related companies, which have benefited from strong demand for their products, especially from emerging-market nations such as China, also posted gains. <br />
<br />
Fuel and forestry conglomerate Copec (COPEC.SN), the Ipsa's heaviest-weighted share, increased 1.3% to CLP9,100.00, and pulp and paper producer CMPC (CMPC.SN) jumped 2% to CLP24,950.00. <br />
<br />
The peso ended stronger against the dollar at a fresh 31-month high, inching toward levels thought to merit an intervention and topping off a year in which the local currency appreciated 7.8% versus the dollar. The peso finished stronger at CLP467.30 to the dollar, compared with Wednesday's close of CLP468.70, while trading in a range of CLP467.30 to CLP468.90. <br />
<br />
In recent months, Chilean exporters have clamored for currency-market intervention as the strength of the local currency hurts their competitiveness abroad. <br />
<br />
Early last week, the central bank said it won't rule out increasing its foreign-currency reserves as a way to limit the peso's recent strength. <br />
<br />
Traders now believe there is an increased risk of intervention if the peso appreciates to CLP450-CLP460. Previously they saw an increased risk at CLP460 to CLP465. <br />
<br />
In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended flat in light over-the-counter trading. The yield on five-year BCU bonds ended unchanged on the day at 2.65%, while the yield on 10-year BCUs closed flat at 2.89%. <br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Sept-Nov Unemployment 7.1%</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Unemployment in Chile fell to a better-than-expected 7.1% in the September through November period, from 7.6% in August through October, the government statistics agency reported Thursday. <br />
<br />
Unemployment fell on the seasonal increase in agricultural jobs as the southern hemisphere's crops season kicked into gear and on higher employment rates in the retail sector, said the INE, as the statistics agency is known locally. <br />
<br />
Chile's government aims to create a total of 1 million new jobs, or 200,000 per year, during its 2010-2014 term. Unemployment is falling quickly "due to the recovery of our economy and global economy following the global crisis and due to reconstruction efforts following the earthquake," said Economy Minister Juan Andres Fontaine. <br />
<br />
In total, 7.31 million people held jobs during the latest period, higher than the 7.24 million people who held jobs in the previous three-month period, according to the INE's new employment survey. <br />
<br />
Chile, as part of its process to join the Organization for Economic Cooperation and Development, recently restructured its unemployment and consumer price indexes, among other indicators, to meet OECD standards. <br />
<br />
<br />
<br />
<b>WEDNESDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks End 1.1% Higher Wednesday</span><br />
Chile's blue-chip Ipsa index ended 1.1% higher Wednesday, as shares rebounded following a recent steep drop and as retail, corporate and institutional investors adjusted their investment portfolios. <br />
<br />
The Ipsa rose to 4888, while volume surged to 287.1 billion Chilean pesos ($612.6 million), compared with volume of CLP130.2 billion the prior session. <br />
<br />
Prior to Wednesday's gain, the Ipsa had posted an accumulated loss of 3.7% since last Monday after the central bank said that day that the select-stock index was "overvalued" considering its sharp climb during 2010. <br />
<br />
Also, "stocks rose as investors shuffled around their portfolios and bought into stocks, for accounting and tax purposes, as the end of the year approaches," said Arturo Curtze, senior trader with brokerage BBVA Corredores de Bolsa. <br />
<br />
Among gainers, fuel and forestry conglomerate Copec (COPEC.SN), the heaviest-weighted share on the Ipsa, rose 1.7% to CLP8,999.00, flagship carrier LAN Airlines (LFL, LAN.SN) increased 0.9% to CLP14,479.00, and specialty chemical and fertilizer producer SQM's (SQM) more liquid B-series shares (SQM-B.SN) jumped 3.1% to CLP26,443. <br />
<br />
The peso ended stronger against the dollar, at a new 31-month high, nearing levels thought to merit a central bank intervention. <br />
<br />
The peso finished stronger at CLP468.70 to the dollar compared to Tuesday's close of CLP469.70, while trading in a range of CLP467.60 to CLP469.50. As the peso has gained over 12% against the dollar since mid-year, exporters have demanded currency-market intervention -- which traders believe may happen if the currency appreciates to CLP460-CLP465 -- as the strength of the peso hurts their competitiveness abroad. <br />
<br />
In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended flat in light over-the-counter trading. <br />
<br />
The yield on five-year BCU bonds ended unchanged on the day at 2.65%, while the yield on 10-year BCUs closed flat at 2.89%. <br />
<br />
<br />
<b>TUESDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Close Lower Tuesday</span><br />
Chile's blue-chip Ipsa index ended lower Tuesday as participants shuffled their investment portfolios around with the end of the year approaching. <br />
<br />
The Ipsa lost 0.1% to 4835.22, while volume grew to 130.2 billion Chilean pesos ($277.2 million) after local natural-gas supplier Gasco (GASCO.SN) sold 7.31 million shares of cement maker Cemento Polpaico (POLPAICO.SN), equivalent to a 40.9% stake in the company. Volume the prior session totaled CLP77.6 billion. <br />
<br />
After the sale, which raised $116.7 million for Gasco, Cemento Polpaico's shares ended flat at CLP7,500.00, while Gasco's shares gained 1.3% to CLP3,090.00. <br />
<br />
"It's the end of the year and participants are moving around their portfolios, so certain shares are seeing a correction," said Allan Becker of local brokerage CorpBanca Corredores de Bolsa. <br />
<br />
Three of the most liquid stocks on the local market posted declines. <br />
<br />
Fuel and forestry conglomerate Copec (COPEC.SN), the heaviest-weighted share on the Ipsa, lost 1.2% to CLP8,846.40, retail holding giant Cencosud (CENCOSUD.SN) shed 0.9% to CLP3,606.80, and flagship carrier LAN Airlines (LFL, LAN.SN) decreased 0.6% to CLP14,347.00. <br />
<br />
The Ipsa has posted a cumulative loss of 3.7% since last Monday after the central bank said the select-stock index was "overvalued" considering its sharp rise during 2010. <br />
<br />
Market attention Tuesday also focused on information technology firm Sonda (SONDA.SN), which surged 6.1% to CLP1,125.00 after local brokerage IM Trust gave the company a buy recommendation and target price of CLP1,427 per share for year-end 2011. <br />
<br />
Sonda, which has an aggressive 2010-12 investment plan of $500 million--including recent acquisitions of Mexican firm NextiraOne, Colombian company Red Colombia, Argentina-based Ceitech and Brazilian companies Telsinc, Kaizen and TI Procwork--also plans to list shares in Brazil in 2011 and raise a minimum of $350 million. <br />
<br />
The peso ended stronger versus the dollar, approaching a 31-month high, as participants brushed aside China's weekend interest rate hike and as international copper prices rose to a record high. <br />
<br />
The peso finished at CLP469.70 to the dollar compared to Monday's close of CLP471.40, while trading in a range of CLP469.30 to CLP470.30. <br />
<br />
In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended mixed again in light over-the-counter trading. <br />
<br />
The yield on five-year BCU bonds ended unchanged on the day at 2.65% for a second straight session, while the yield on 10-year BCUs closed at 2.89%, from 2.92% the prior session. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<br />
<b>MONDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Close 1.1% Lower Monday</span><br />
In recent trading, the Ipsa fell to 4846.94 in light volume of 35.3 billion Chilean pesos ($74.8 million). Volume the prior session skyrocketed to an unusually high CLP1.033 trillion, after the local Cueto family transferred its 28.1% controlling stake of flagship carrier LAN Airlines (LFL, LAN.SN) to a new holding company, in the single largest transaction to ever take place on the Santiago Stock Exchange. <br />
<br />
Retailers, which have fueled the Ipsa's record run this year, were among the session's biggest decliners. <br />
<br />
The nation's largest department store Falabella (FALABELLA.SN) lost 1.4% to CLP5,120.00 and retailer La Polar (LAPOLAR.SN) shed 1.3% to CLP3,319.00. <br />
<br />
Also slipping were construction and real-estate companies, as investors took profits following the sector's sharp increase in recent weeks on expectations that a ramping up of post-earthquake reconstruction activity will boost profits. Construction company Besalco (BESALCO.SN) fell 1.1% to CLP1,019.00 and rival SalfaCorp (SALFACORP.SN) dropped 2.2% to CLP1,662.00.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile Peso Ends Weaker</span></div><br />
Chile's peso ended weaker against the dollar Monday in light trading after China's interest rate hike over the weekend put a speed bump in the way of the peso's appreciation. <br />
<br />
The peso ended weaker at CLP471.40 to the dollar compared to Friday's close of CLP469.80, while trading in a range of CLP469.00 to CLP472.00. <br />
<br />
All markets in Chile were open only for a half day on Friday in observance of Christmas Eve.<br />
<br />
<br />
<span style="font-size: x-large;">COLUMBIA:</span><br />
<b>MONDAY:</b><br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Colombian Stocks Climb Monday</span> <br />
Colombian stocks rose for a fifth session Monday as a jump in state-run oil firm Ecopetrol SA (ECOPETROL.BO) more than offset a dip in Isagen SA (ISAGEN.BO), a state-controlled power generator. <br />
<br />
The IGBC index of blue-chip stocks rose 0.87% to 15,805 points. Shares of Ecopetrol SA, which are the heaviest-weighted in the index, added 1.58% to COP4,170. <br />
<br />
Isagen shed some of its big gains from Friday, slipping 1.1% to COP2,700. The company announced in November it is considering listing in the U.S. through an American Depositary Receipt next year. <br />
<br />
The Colombian peso lowered toward the COP2,000 to the dollar mark, ending at COP1,995.00 from COP1,935.00 Friday.<br />
<br />
<br />
<span style="font-size: x-large;">PERU:</span><br />
TUESDAY:<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Peru's Stock Indexes End Higher Tuesday </span><br />
<br />
Peru's main stock market ended higher Tuesday, as a number of mining companies benefited from rising mineral prices. <br />
<br />
The Lima Stock Exchange's broad General index closed higher by 0.43%, at 23,057.30. The Selective blue-chip index ended 0.41% stronger at 31,649.50. <br />
<br />
Base metals miner Southern Copper Corp.(SCCO) increased 1.15% to end at $48.31, while copper miner Sociedad Minera Cerro Verde SAA(CVERDEC1.VL) gained 1.92% at end at $53.00 as copper prices improved. <br />
<br />
Precious metals miner Compania de Minas Buenaventura SAA (BVN, BUENAVC1.Vl) gained 1.68% to end at $48.45, as the price of gold rose. <br />
<br />
Financial holding Credicorp Ltd. (BAP) gained 1.01% to end at $120.10. It owns Banco de Credito, Peru's largest bank. <br />
<br />
The sol ended slightly weaker at PEN2.805 per dollar, compared with PEN2.803 per dollar in the previous session.<br />
<br />
<br />
<span style="font-size: x-large;">ARGENTINA:</span><br />
<br />
<b>THURSDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina Exchange Raises Wheat Forecast </span><br />
Excellent conditions through key development phases boosted Argentina's wheat yields and led the Buenos Aires Cereal Exchange on Thursday to raise its forecast for total production by one million metric tons to 14.5 million tons. <br />
<br />
The harvest is almost two-thirds complete and the crop is expected to be up 45.5% from last season, the exchange said in its weekly crop report. <br />
<br />
The exchange also made its first forecast for sunflower seed production, pegging output at 2.7 million tons, up 25.6% on the year. Estimates for Argentina's 2010-11 crop production in million of hectares (HA) or millions of metric tons (MT) (One hectare equals 2.47 acres):<br />
<br />
Wheat Soy Corn Sunseed<br />
Ag Ministry 13MT 52MT 26MT 2.5MT<br />
USDA 13.5MT 52MT 25MT 2.8MT<br />
B.A. Cereals Exch 14.5MT 18.7HA 3.15HA 2.7MT<br />
Rosario Grain Exch 10-11.5MT 49.5MT 21-22MT -- <br />
<br />
<br />
<br />
<b>WEDNESDAY: </b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina Stocks Close Higher Wednesday</span><br />
<br />
Argentine stocks followed international markets higher Wednesday, climbing to a new record while bonds held on to recent gains. <br />
<br />
Argentina's benchmark Merval stock index added 0.8% to close at 3,523 points. <br />
<br />
On Wednesday, the positive mood overseas and expectations for continued strong economic growth in Argentina next year provided a boost, said Julian Siri, analyst at Maxinver brokerage. <br />
<br />
That growth is expected to continue to drive market gains. "We're still bullish," Siri said. <br />
<br />
Petrobras Argentina (PZE, PESA.BA), the local unit of the Brazilian oil giant, posted one of the largest gains on Wednesday, rising 5% to ARS10.45 ($2.63) amid a global rally of energy companies. <br />
<br />
Bonds were little changed but tended positive, continuing to enjoy a tailwind from the government's defaulted bond swap which was opened this week and will run through Friday. <br />
<br />
The peso-denominated 2033 discount bond was unchanged at ARS187.10, to yield 7.3%. the peso edged higher against the dollar for the second straight day, closing at ARS3.98 compared to ARS3.9825. <br />
<br />
<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Supermarket, Shopping-Center Sales</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;"> Rise In November</span></div>Sales at Argentina's supermarkets and shopping centers logged hefty gains in November as consumers ramped up spending ahead of the holiday season. <br />
<br />
Supermarket sales rose 19.4% year-on-year in seasonally adjusted prices in November, and were up 3.3% from October, the national statistics institute, Indec, reported Wednesday. <br />
<br />
In peso terms, supermarket sales rose 29.6% on the year to ARS5.61 billion ($1.41 billion) in the prior month, Indec said. <br />
<br />
Shopping center sales increased 20.1% on the year in seasonally adjusted prices in November, and were up 1.1% from October, Indec said in a separate report. Sales in pesos totaled ARS953.4 million, a 26% increase from November 2009. <br />
<br />
Indec's supermarket sales data are based on a survey of 66 companies across the country. Its shopping center survey polled 34 establishments in the capital city and neighboring urban area in Buenos Aires Province. <br />
<br />
Argentina is enjoying strong consumer spending thanks to an economy that is expected to grow about 9% this year, low unemployment and government social programs that put cash directly in the hands of the poor. That consumption boom has been accompanied by inflation, which, according to Indec's heavily questioned consumer price index data, put the annual rate at 11.1% at the end of November. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Automobile Sale Increased </span></div><div style="font-family: Arial,Helvetica,sans-serif;">Argentine auto makers are aiming to set a new record for vehicle production next year, beating the high mark set in 2010. <br />
<br />
Car makers hope to crank out 840,000 vehicles next year, up from the record of 730,000 set this year, production minister Debora Giorgi was quoted by state news agency Telam as saying on Wednesday. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Vehicle sales and production have surged this year amid a broad economic recovery and strong demand from neighboring Brazil.<br />
<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">November Construction +17.2%</span></div>Argentina's construction activity rose 17.2% in November from the same month a year earlier in seasonally adjusted terms, the national statistics agency, Indec, reported Wednesday. <br />
<br />
Construction activity last month increased 3.3% from October in seasonally adjusted terms, Indec said. <br />
<br />
The following annual increases were observed in construction materials in November: cement 30%, asphalt 28.8%, bricks 23%, rebar 9.2%, paint 4.6% and ceramic tiles 4.2%. <br />
<br />
<br />
<br />
<b>TUESDAY:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina's Stocks Rise Tuesday</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Argentina's stocks edged slightly higher to set a new record Tuesday, led by rising share prices for energy companies while bonds generally added to recent gains fueled by the government's defaulted debt swap offer. <br />
<br />
Argentina's benchmark Merval stock index added 0.5% to close at 3,494.90 points. <br />
<br />
Utility stocks have been on a tear in recent days amid speculation that the government is poised to loosen rate controls. Shares of electricity transmission company Transener (TRAN.BA) have risen 15% over the past three days, closing at ARS1.70 on Tuesday. <br />
<br />
That comes despite rolling blackouts which have plagued the capital Buenos Aires in recent days as residents overwhelm the system by cranking up air conditioners to fight a heat wave. <br />
<br />
Electricity demand has grown 6% a year on average since 2003 thanks to strong economic growth and low rates due to government price controls that give consumers little reason to conserve energy. Although the government has invested heavily in electricity generation and transmission infrastructure in recent years, the country's distribution system struggles when demand spikes. <br />
<br />
Most bonds racked up more gains on Tuesday following the government's announcement late Monday that the holders of about 52% of Argentina's defaulted Brady bonds representing about $172 million have accepted a debt-swap offer. Three weeks ago, the government offered the swap for a basket of U.S. dollar-denominated bonds and a cash payment. <br />
<br />
The government is currently on a big push to try to mop up the rest of the defaulted bonds stemming from the country's economic meltdown in 2001 and 2002 when the country stopped making payments on over $100 billion in sovereign debt. <br />
<br />
Last week, the government announced it reopened another debt swap that closed in June. In that swap, which runs through the end of the year, the government is offering U.S. dollar- and peso-denominated Discount 2033 bonds and GDP warrants as well as dollar-denominated Global 2017 bonds. About $6.1 billion of default bonds are eligible for the swap. <br />
<br />
The peso-denominated 2033 discount bond slipped 0.4% in price terms to ARS187.10, to yield 7.3%. The dollar-denominated Boden 2015 bond rose 0.2% in price terms to ARS388.75, with the yield at 8.3%. <br />
<br />
The peso recovered some ground on Tuesday after easing against the greenback during the previous two sessions. The peso closed at ARS3.9825 to the dollar compared to ARS3.9850 on Monday.<br />
<br />
</div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina's Agra Business Plagued by Heat</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The sweltering heat has impacted the corn, soy, and grain harvest figures in Argentina for December-January delivery. Even after the crop size planted was larger, the yield is expected to be reduced by 20% percent overall.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Argentina's developing corn and soybean crops are wilting under a blistering heat wave and a cloudless sky, which has already taken a deep bite out of the prospects for corn production and threatens to stunt soy yields. <br />
<br />
The drought has pushed international corn and soy prices to two-and-a-half-year highs as strong global demand meets fears over supply problems from Argentina. Argentina is the world's second leading corn exporter behind the U.S. and trails only the U.S. and Brazil in soybean exports. <br />
<br />
It's already too late for the corn crop to escape major damage, said the vice president of local brokerage Panagricola, Ricardo Baccarin. <br />
<br />
Early expectations were for production of about 25 million metric tons, a new record, but the drought has caused prospects to fall about 20% over the last two weeks, Baccarin said. Moreover, "if the drought continues, prospects will plunge further with every passing day." <br />
<br />
Beyond the heat, what's causing farmers to sweat is that there's no relief in sight. Hot, dry weather is expected over the next two months due to the La Nina weather phenomenon. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">This season's La Nina is one of the most intense in recent decades, according to the Buenos Aires Cereals Exchange. In the central farm belt, the corn fields are in their flowering stage and between 60 and 120 millimeters of rain are desperately needed, according to the Rosario Grain Exchange. <br />
<br />
While a weather front appears to be headed towards the fields on Friday, the most optimistic hopes are for about 20 millimeters of rain, "far from covering the crops' demands," the Rosario Grain Exchange said in press release. <br />
<br />
The soy crop is also feeling the heat, although there's still time for a recovery if it gets a good soaking soon. The next 15 days are crucial, but there aren't high hopes that the crops will get enough rain, Baccarin said. <br />
<br />
Early forecasts had called for near-record soy production of 52 million metric tons. However, now "nobody is thinking about more than 50 million," Baccarin said.<br />
</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The price of soybeans may reach $15 (a bushel) in Chicago in the event the drought continues in Argentina, said Nelson Vigolo, managing director of Grupo Bom Jesus, one of the largest soy producers in Mato Grosso state, Agencia Estado reported Tuesday.</span><br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Venezuela Sets Single Exchange Rate</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> For U.S. Dollar</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;"><br />
</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Beginning Jan. 1, 2011 Venezuela will have a single exchange rate for the U.S. dollar, Venezuelan Finance Minister Jorge Giordani said Thursday. As of January 1, 2011, </span><span style="font-family: Arial,Helvetica,sans-serif;">Venezuela will remove the VEF2.6/Dollar exchange rate</span><span style="font-family: Arial,Helvetica,sans-serif;">. It will now take 4.30 Venezuelan bolivars to buy one dollar. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">This measure eliminates an earlier exchange rate of 2.6 bolivars per dollar for imports of health products, food, machinery, and most government imports.</span><br />
<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Venezuela Reports 2010 GDP -1.9%</span></div><span style="font-family: Arial,Helvetica,sans-serif;"><i><b>Inflation Jumps 26.9%</b></i><br />
<br />
The Venezuelan economy contracted 1.9% in 2010 as the country continued to struggle with high inflation, low investment and declining oil production, its central bank reported Thursday in an annual report. <br />
<br />
The pullback is Venezuela's second-straight loss in productivity, after the economy shrank by 3.3% during 2009. In the report, Central Bank President Nelson Merentes attributed the shrinking economy to a 2.2% drop in petroleum-sector activity, the lifeblood of the OPEC-member. Oil and natural gas extraction slid 2.8%, the bank said. <br />
<br />
Activity in the nonoil sectors, meanwhile, fell 1.8%. <br />
<br />
"During the first months of the year, the energy crisis, caused by the prolonged period drought and the need to implement a rationing program, limited capacity expansion of the manufacturing sector and influenced the downturn that started in 2009," Merentes said. <br />
<br />
The country recorded an annual inflation rate of 26.9%, among the highest in the world. Inflation at the end of 2009 was reported at 25.1%. <br />
<br />
The central bank estimated 8.7% unemployment this year, up from 8% last year. <br />
<br />
"It will be a year of economic growth and increased social welfare," Merentes said, adding, the bank will be working to reduce inflation levels, while at the same time stimulate credit growth and investment. <br />
<br />
The country's struggling economy has drawn increasing attention at a time when much of the South American continent is experiencing robust growth and high investment. Indeed, even with oil prices at a high and stable level, Venezuela continues to struggle. <br />
<br />
Critics have blamed the policies of President Hugo Chavez as he continues to nationalize companies and property, which many say has stifled investment into the country. Chavez, in turn, has blamed the economic hardships on the global financial system and has justified his actions as integral to his socialist revolution. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">. </span><br />
<br />
<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Markets:</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY: </b>EURO STOXX 50 2,807.04 -34.19 (-1.20%) <b><br />
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<b>THURSDAY:</b> EURO STOXX 50 2,807.04 -34.19 (-1.20%) <br />
<b>WEDNESDAY:</b><b> </b>EURO STOXX 50 2,841.23 +16.93 (0.60%) <br />
Stoxx 600 index finished a thin trading session up 0.3% to 280.63. <b><br />
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<b>TUESDAY:</b> EURO STOXX 50 2,832.02 +5.51 (0.19%) <br />
<b>MONDAY: </b><span style="font-family: Arial,Helvetica,sans-serif;">EURO STOXX 50 2,826.51 -35.43 (-1.24%)</span></div><br />
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<span style="font-size: x-large;">Estonia Becomes Latest Euro State</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Estonia becomes the 17th member of the Eurozone - the first former Soviet republic to adopt the EU's single currency.</span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">UK - United Kingdom:</span></div><span style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY: FTSE 100 5,899.94 -71.07 (-1.19%) </b></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY: </b>FTSE 100 5,971.01 -25.35 (-0.42%)<b> </b></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>WEDNESDAY: </b>FTSE 100 5,996.36 -12.56 (-0.21%) <b><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY:</b> FTSE 100 6,008.92 +12.85 (0.21%) </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY:</b><b> </b><i><span style="color: #990000;">The U.K. for celebration of the Boxing Day holiday</span></i></span><br />
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Friday, the final trading day of the year shows the FTSEurofirst 300 .FTEU3 index of top European shares is down 0.2 percent in holiday-thinned trade. In London, Brent crude fell 11 cents to $92.98 a barrel on the ICE Futures exchange.. <br />
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Wednesday, the U.K.'s FTSE 100 index reopened for the first time since Christmas Eve and slipped 0.2% to 5,996.36.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">GERMANY:</span><br />
<b>FRIDAY: </b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Germany 'stronger' after crisis</span><br />
Germans have emerged stronger from the economic crisis, Chancellor Angela Merkel says in an upbeat new year's message.<br />
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A U.S. federal judge dismissed a lawsuit by 10 hedge fund groups accusing German automaker Porsche SE of cornering the market in shares of Volkswagen AG, resulting in more than $2 billion of damages<b>.</b><br />
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<b>THURSDAY: </b>The DAX 30 index fell 1.2% to 6,914.19 <b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">EXPORTS RISE 21.5% PERCENT</span><br />
Germany's third quarter exports up by 21.5% per cent on the year to $322 billion. Official data show Germany's third quarter exports rose by 21.5 per cent to €245 billion (US$322 billion) from €202 billion a year earlier.<br />
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Germany's Federal Statistics Office said Thursday trade with other European Union member rose by 16.5 per cent and amounted to almost 60 per cent of all exports between July and September.<br />
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But it says exports to countries outside the bloc recorded the strongest growth, with sales to the U.S. up by 32 per cent to €17 billion, and those to China by 34 per cent to €14 billion. Those to Russia were up by 42 per cent to €7 billion.<br />
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The data show German exports in the first three quarters combined rose from €591 billion to €703 billion as demand for German goods increased amid a strengthening world economy. <br />
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<b>WEDNESDAY:</b> Germany's DAX 30 added 0.3% to 6,995.47. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">GERMAN DECEMBER CPI SURGES ON TOURISM, FUEL, FOOD</span><br />
<i><b> German inflation edges up to 1.7 per cent in December</b></i><br />
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Consumer prices in Germany rise by more in December than in the previous eight months put together, according to a preliminary estimate released by the Federal Statistics Office, Destatis.<br />
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An official estimate shows that Germany's annual inflation rate picked up to 1.7 per cent in December, with higher oil and fuel prices helping push the rate higher.<br />
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The Federal Statistical Office said Wednesday that annual consumer price inflation was up from 1.5 per cent in November. Prices were up one per cent on the month. Data from Germany, Europe's biggest economy, are important for interest rate decisions by the European Central Bank. The bank has kept its main interest rate at one per cent since May 2009 and shows no signs of raising it any time soon. <br />
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<span style="font-size: x-large;">IRELAND:</span><br />
<b>WEDNESDAY:</b> Dublin Stocks: ISEQ Ends Flat At 2,885; Bank Of Ireland +7.5%<br />
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<span style="font-size: x-large;">FRANCE:</span><br />
<b>FRIDAY: </b>CAC 40 3,804.78 -45.98 (-1.19%) <b><br />
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<b>THURSDAY:</b> CAC 40 3,850.76 -39.89 (-1.03%) <br />
<b>WEDNESDAY:</b><b> </b>CAC 40 3,898.16 +39.44 (1.02%) <b><br />
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<b>TUESDAY:</b> CAC 40 3,874.53 +12.34 (0.32%) <br />
<b>MONDAY:</b> CAC 40 3,862.19 -38.20 (-0.98%) <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">FRENCH 3Q FINAL GDP REVISED DOWN TUESDAY </span><br />
The French economy slowed in 3Q compared with the previous three-month period, revised data shows. National statistics office Insee say 3Q GDP rose 0.3% between June and September, revising down previously reported preliminary figures.<br />
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<span style="font-size: x-large;">SPAIN:</span><br />
<b>FRIDAY:</b><br />
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<div class="introduction" id="story_continues_1"><br />
</div><div class="introduction" id="story_continues_1"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MINIMUM WAGE RAISED </span></div><div class="introduction" id="story_continues_1">Spain's minimum wage will rise by 1.3% in 2011, Prime Minister Jose Luis Rodriguez Zapatero has announced.</div><div class="introduction" id="story_continues_1"><br />
</div>The increase will take monthly minimum pay to 641.50 euros (£551; $851).<br />
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Mr Zapatero said state pensions would go up by at least the same percentage - and more in the case of those receiving the smallest pensions. He told a news conference the government was making "a special effort at solidarity" despite Spain's economic crisis.<br />
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The proposed rise in the minimum wage is well below inflation, which is currently 2.3% a year in Spain. The prime minister predicted that Spain would go from recession to recovery in 2011 after "a difficult year" in 2010.<br />
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This view has already been endorsed by the Organisation for Economic Co-operation and Development (OECD), which said earlier this month that Spain's economy would grow by 0.9% in 2011 and by 1.8% in 2012.<br />
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The country's unemployment, which at almost 20% is the highest in the EU, would "drop slightly" to 19.1% next year and to 17.4% in 2012, the OECD said.<br />
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The body also reiterated its forecast that the government's budget deficit would be 9.2% this year, 6.3% in 2011 and 4.4% in 2012.<br />
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The Spanish government is currently able to borrow money from the international money markets in order to fund its debts, although at much higher rates than before the eurozone debt crisis began.<br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">RUSSIA:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>WEDNESDAY: </b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Norilsk Buying Back $3B In Shares; Rusal </span><br />
Hours after failing to reach a compromise on United Co. Rusal PLC's (0486.HK) 25% stake in OAO Norilsk Nickel (GMKN.RS), Norilsk Wednesday offered to buy back up to $3 billion in shares. Embattled shareholders in Russian mining giant Norilsk Nickel fail to reach a compromise on the future of a 25% stake in the company, prolonging a bitter, two-year-old conflict. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Deripaska: Glencore Sought To Buy Trafigura's Norilsk Stake</span><br />
Billionaire and United Co. Rusal PLC (0486.HK) major shareholder Oleg Deripaska said Wednesday that commodities giant Glencore had offered to buy the OAO Norilsk Nickel (GMKN.RS) stake that ultimately went to commodities rival Trafigura Beheer BV.<br />
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<b>TUESDAY: </b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">RUSSIAN PANEL APPROVED PEPSICO PURCHASE</span><br />
Russia's government commission on foreign investment approved PepsiCo's purchase of juice and dairy maker OAO Wimm-Bill-Dann, according to the head of the Anti-Monopoly Service, Igor Artemyev, Interfax reports. <br />
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<b>MONDAY:</b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Russian firms to build electricity and health-care equipment with GE</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">General Electric Co. and two Russian companies have formed joint ventures to build and sell health-care and power equipment in Russia. The deal is part of a broader strategy by GE to boost overseas growth, the company said Monday. CEO Jeffrey Immelt told investors earlier this month that such partnerships will help GE capitalize on rising investments in foreign projects.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">GE and state-owned Russian Technologies and INTER RAO UES JSC will create new businesses to manufacture, sell and service gas-fired power generation turbines. GE also formed a partnership with Russian Technologies to manufacture, sell and service high-tech medical diagnostic equipment.</div><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Asian Pacific Markets:</span><br />
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<span style="font-size: x-large;">CHINA:</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY</b>:Shanghai 2,759.57 +8.05 (0.29%) </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Hang Seng Index 22,999.34 +30.04 (0.13%) </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>WEDNESDAY:</b> Shanghai 2,751.53 +18.54 (0.68%) </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Hang Seng Index 22,969.30 +347.57 (1.54%) </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY:</b><b> </b>Shanghai 2,744.41 -37.00 (-1.33%) </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Hang Seng Index: 22,624.94 -208.86 (-0.91%) </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY:</b> Shanghai 2,781.40 -53.75 (-1.90%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Hang Seng Index: 22,833.80 -69.17 (-0.30%) </span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY: </b><br />
China's largest digital-media company Focus Media Holding Ltd. (FMCN, $21.77, +$0.98, +4.71%) agreed to acquire 15.3 million VisionChina Media Inc. (VISN, $4.67, +$0.80, +20.67%) shares for $61 million, giving it with a 15% stake in the Chinese mass-transportation mobile TV advertising company.<br />
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<b>WEDNESDAY:</b> </div><div style="font-family: Arial,Helvetica,sans-serif;">China's Shanghai Composite Index rose 0.7 per cent to close at 2,751.53 while Hong Kong's Hang Seng index climbed 1.5 per cent to finish at 22,969.30.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Chinese stocks bounced back after two days of losses in reaction to news at the weekend that authorities would raise a key interest rate. Chinese officials are trying to keep a lid on rising inflation and the rate hike was the second such move in just over two months.<br />
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The People's Bank of China raises the rediscount and refinancing rates, making it more expensive for banks to borrow from the central bank. </div><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span id="intelliTXT">China said it is reducing the amount of rare earths it will export for the first half of the year by more than 10 percent — likely to be an unpopular move worldwide since the minerals are vital to the manufacture of high-tech products. <br />
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China accounts for 97 percent of the global production of rare earths, which are essential to devices as varied as cell phones, computer drives and hybrid cars. Countries were alarmed when Beijing blocked shipments of the minerals to Japan earlier this year amid a dispute over islands claimed by both countries. <br />
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Concerns over China's grip on rare earths has led countries on a hunt for alternative sources. A number of companies in North America; notably Molycorp Inc. in the U.S. and Thompson Creek Metals Co. in Canada are hurrying to open or reopen rare earth mines. Two Australian companies are also preparing to mine rare earths. </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span id="intelliTXT">China is also cracking down on illegal mining operations that are producing rare earth materials without proper permits. </span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY: December 28, 2010</b> </span><br />
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<span style="font-size: x-large;">China's Markets Closed Lower Tuesday </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The Shanghai Composite Index was down 1.7% as securities firms fell in China as investors were concerned over tighter credit and the possibility of further monetary tightening measures from Beijing. The </span><span style="font-family: Arial,Helvetica,sans-serif;">Hang Seng Index closed at 22,624.94 losing -208.86 points, down -0.91% percent on the day. </span><span style="font-family: Arial,Helvetica,sans-serif;">Higher interest rates would make it more expensive for people to borrow money to buy homes. China auto stocks have been dragged down in recent days after an announcement last week that traffic-clogged Beijing would sharply limit new vehicle registrations.</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">China Cuts First-Round Rare Earth Export Quotas by 11%</span><br />
China cut its rare earths export quotas by 11 percent in the first round of permits for 2011, threatening to worsen a global shortage of the minerals needed for smartphones, hybrid cars and guided missiles.<br />
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The government allotted 14,446 metric tons of rare earth exports split among 31 companies, the Ministry of Commerce said in a statement. That compares with the first round this year of 16,304 tons and the second round of 7,976 tons, according to previous ministry statements. The government usually issues two rounds of export quotas every year.<br />
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China, which accounts for more than 90 percent of world supplies, slashed export quotas by 72 percent in the second half of this year, sparking a surge in prices. Japan, the biggest user, has sought alternate supplies with companies including Hitachi Metals Ltd. and Toyota Motor Corp. seeking cooperative ventures at home and abroad to secure the minerals. <br />
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<i>Read the entire article on Bloomberg News: </i><br />
<a href="http://www.bloomberg.com/news/2010-12-28/china-cuts-first-round-rare-earth-export-quotas-by-11-correct-.html">http://www.bloomberg.com/news/2010-12-28/china-cuts-first-round-rare-earth-export-quotas-by-11-correct-.html</a>.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">China Investigates U.S. Feed Exports</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">China's Ministry of Commerce opened an anti-dumping investigation into U.S. exports of a livestock feed that the U.S. farm industry lobby has sought to promote among Chinese feed mills.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">China May Hike Interest Rate First Half of 2011</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">China's central bank could raise interest rates to alleviate negative real interest rates in the first half of next year while inflation pressures are large, the central bank-backed Financial News reported Tuesday.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">SATURDAY: December 25, 2010</span></b><br />
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<h1 class="top_head" style="font-family: Georgia,"Times New Roman",serif; font-weight: normal;"><span style="font-size: x-large;">China raises key interest rates again after inflation hit 28-month high</span> </h1><div class="byline first_byline"><span style="font-family: Arial,Helvetica,sans-serif;">By: </span><span style="font-family: Arial,Helvetica,sans-serif;">The Associated Press</span></div><div class="byline first_byline" style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">BEIJING, China - China increased interest rates Saturday for the second time in little more than two months as the government steps up its fight against rising inflation that could threaten political stability.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The move by the People's Bank of China had been expected by the end of the year or early next year.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Effective from Sunday, the benchmark one-year lending rate will climb 25 basis points to 5.81 per cent, while the one-year deposit rate will go up the same amount to 2.75 per cent, the central bank said on its website.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Earlier this month, China's leaders wrapped up an annual economic planning meeting with a pledge to cool surging inflation while shifting the economy toward more stable, balanced growth.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Inflation is especially sensitive in a society where poor families spend up to half their incomes on food. Rising incomes have helped to offset price hikes, but inflation undercuts economic gains that help support the ruling Communist party's claim to power.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Inflation jumped to 5.1 per cent in November, a 28-month high despite a crackdown on speculation and repeated moves to curb a flood of money circulating in the economy from massive stimulus spending and bank lending.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Chinese banks lent a total of 7.45 trillion yuan (US$1.1 trillion) in January-November and are certain to overshoot the government's official lending target of 7.5 trillion yuan.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">While a frenzy of lending over the past two years has helped China rebound quickly from the global crisis, combined with bad weather and rising global commodity prices, it has complicated efforts to cool inflation.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">November's rate was way above the government's original target of three per cent.</div><div style="font-family: Arial,Helvetica,sans-serif;">The rate increases, which follow similar moves Oct. 19, also highlight the divergence of China's robust economic expansion from the United States, Europe and Japan, which still are trying to shore up growth.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">China's rapid economic growth eased to 9.6 per cent in the three months ending in September from a post-crisis high of 11.9 per cent in the first quarter. It is expected to fall further in coming months but to remain strong.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Mindful of the political turmoil linked to past bouts of inflation, Beijing has already sought to reassure the public it has prices under control.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Earlier this month it raised banks' reserve requirement ratio — meaning they have to hold more deposit funds in reserve rather than lending them out —for the sixth time this year to help curb the surge in lending.</div><br />
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<span style="font-size: x-large;">JAPAN:</span></span><br />
<div class="separator" style="clear: both; text-align: center;"><a href="http://ichart.finance.yahoo.com/instrument/1.0/%5EN225/chart;range=1d/image;size=239x110?lang=en-US&region=US" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="http://ichart.finance.yahoo.com/instrument/1.0/%5EN225/chart;range=1d/image;size=239x110?lang=en-US&region=US" /></a></div><span style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY:</b> Nikkei 225 10,228.92 -115.62 (-1.12%) </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>WEDNESDAY:</b> Nikkei 225 10,344.54 +51.91 (0.50%)</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY: </b>Nikkei 225 10,306.62 -49.37 (-0.48%) <b> </b></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY:</b><b> </b>Nikkei 225 10,355.99 +76.80 (0.75%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> <b> </b></span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY:</b></div><div style="font-family: Arial,Helvetica,sans-serif;">In the last trading day of the year for Japan, the Nikkei lost 1.1% on a stronger yen. Hong Kong's Hang Seng, which will have a shortened trading session on Friday, added 0.1%. </div><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY: December 28, 2010</b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Japan Threatens Currency Intervention</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Japan's finance minister threatens to intervene again in the currency market as the yen marks three-week highs against the dollar. But doubts remain on whether Tokyo can carry out its threat.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Japanese Markets Declined Tuesday. </span><br />
Asian stock markets were mixed Tuesday with the Japanese market weighed by profit-taking. Japan's Nikkei Stock Average fell 0.4%. <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Japan's Industrial Output Increased in November </span></div><div style="font-family: Arial,Helvetica,sans-serif;">Japan's government says industrial production rose in November for the first time in six months. The Ministry of Economy, Trade and Industry said Tuesday that factory output climbed 1 percent from the previous month due to stronger demand for transport equipment and electronic parts. Data last week showed that export growth in November accelerated for the first time in nine months.<br />
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The result was slightly better than Kyodo News agency's average market forecast for a 0.9 percent climb. The increase follows a 2 percent drop in October, when the Japanese auto sector took a major hit from the expiration of government subsidies for eco-car purchases.<br />
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The ministry's survey points to stronger growth ahead. It expects industrial production to rise 3.4 percent in December and 3.7 percent in January.<br />
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Separately, the government said prices in November fell for the 21st straight month as deflation kept its grip on the economy. The key consumer price index, which excludes volatile fresh food prices, fell 0.5 percent from a year earlier.<br />
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Japan's unemployment rate held steady at 5.1 percent, and household spending fell a real 0.4 percent from a year earlier, according to the Ministry of Internal Affairs and Communications.<br />
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Tokyo has been struggling to keep its fragile economic recovery alive, battling deflation and a strong yen, which can hurt exports. The current government is facing low approval ratings and has made job creation a priority, recently passing a $61 billion stimulus package with support for small businesses and regional economies. </div><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">SOUTH KOREA:</span></div><span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY:</b> </span><span style="font-family: Arial,Helvetica,sans-serif;">South Korea's Kospi rose 0.8 per cent to 2,039.06</span><span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">TAIWAN:</span></div><span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY:</b> Taiwan's main index lost 0.2%</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">AUSTRALIA:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Aussies Bring in 2011 with a Bang </span><b><br />
</b><br />
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</div><div class="separator" style="clear: both; text-align: center;"><a href="http://www.abc.net.au/reslib/201012/r696464_5295027.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="http://www.abc.net.au/reslib/201012/r696464_5295027.jpg" /></a></div><div class="first"><br />
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</div><div class="first">Australians have welcomed a fresh decade with cheers, beers and in some cases a few tears, as fireworks brightened night skies in states ranging from the sunburnt to the sodden.</div><div class="first"><br />
</div>New Year's Eve celebrations were muted for many Queenslanders as the state struggles to come to grips with its mounting flood disaster.<br />
<br />
Sydney promised a party better than any since the 2000 Olympics and judging by crowd reaction, it delivered.<br />
<a href="http://www.abc.net.au/news/stories/2011/01/01/3104647.htm">http://www.abc.net.au/news/stories/2011/01/01/3104647.htm</a><b> </b><br />
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<br />
<b>FRIDAY: S&P/ASX 200 4,745.20 -45.20 (-0.94%) </b><br />
<b>THURSDAY: </b>S&P/ASX 200 4,790.40 +15.20 (0.32%) <b> </b><br />
<b>WEDNESDAY:</b> S&P/ASX 200 4,775.20 -2.10 (-0.04%) <br />
<br />
<div style="color: #990000;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">FLOODS HALT AUSTRALIA COAL OUTPUT</span></div><div style="color: #990000;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;"> AND DESTROYS CROPS</span></div>Torrential rains across Australia's North-eastern Queensland state are inundating mines, flooding crops and threatening to strand tens of thousands of people. The area is 1.73 million sq km (668,000 sq mile)<br />
<br />
Floods devastating large areas of Australia's Queensland state will worsen in the coming days, authorities warned. Separately, a tropical cyclone is expected to develop Saturday in the northwest.<br />
<br />
<br />
The impact of bad weather on key Australian resources exports worsens as oil and iron ore facilities on the North West coast scramble to shut down ahead of a tropical cyclone due over the weekend.<br />
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There are concerns that damage could cost billions of Australian dollars to repair.<br />
<br />
State Treasurer Andrew Fraser said the economic impact would be severe, with huge costs compounded by lost income from mining, farming and tourism.<br />
<br />
Mr Fraser has had to delay a fiscal and economic review in order to account for the costs of the floods. <br />
<br />
Rockhampton, where 77,000 people live, is the latest city bracing for impact, amid warnings of 30ft (9m) floodwaters.More than 20 other towns have already been left cut off or flooded. The town's airport was closed to commercial flights.<br />
<br />
Among the areas already hit by the flooding are Emerald - a town of some 11,000 people - and two smaller towns, Theodore and Condamine, which have been completely evacuated. In some areas, helicopters were used to deliver supplies and food to cut-off householders.<br />
.<br />
<br />
MONDAY-TUESDAY: The Australian market is closed for Boxing Day holiday.<b> </b><br />
<b></b><br />
<b></b>S&P/ASX 200 4,777.30 -21.70 (-0.45%)<br />
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<br />
<br />
<b></b></div><span style="font-size: x-large;"><span style="font-family: Arial,Helvetica,sans-serif;">NEW ZEALAND: </span></span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY-TUESDAY:</b> The New Zealand market was closed for Boxing Day holiday.</div><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<b>(FRIDAY, DEC 31, 2010 1:05 PM EST)</b><br />
<br />
EUR/USD 1.3391 +0.0101 (0.76%)<br />
USD/JPY 81.1200 -0.3900 (-0.48%)<br />
GBP/USD 1.5598 +0.0171 (1.11%)<br />
USD/CAD 0.9948 -0.0051 (-0.51%)<br />
USD/HKD 7.7732 -0.0085 (-0.11%)<br />
USD/CNY 6.5900 -0.0100 (-0.15%)<br />
AUD/USD 1.0234 +0.0065 (0.64%)<br />
</span><span style="font-family: Arial,Helvetica,sans-serif;"><b><br />
</b></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> <span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<b>(FRIDAY, DEC. 31, 2010 1:00 PM EST)</b><br />
<br />
Shanghai 2,808.08 +48.50 (1.76%)<br />
Nikkei 225 10,228.92 -115.62 (-1.12%)<br />
Hang Seng Index 23,035.45 +36.11 (0.16%)<br />
TSEC 8,972.50 +64.59 (0.73%)<br />
FTSE 100 5,899.94 -71.07 (-1.19%)<br />
DJ EURO STOXX 50 2,792.87 -48.36 (-1.70%)<br />
CAC 40 3,804.78 -45.98 (-1.19%)<br />
S&P TSX 13,445.51 +11.10 (0.08%)<br />
S&P/ASX 200 4,745.20 -45.20 (-0.94%)<br />
BSE Sensex 20,509.09 +120.02 (0.59%)<br />
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____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FRIDAY'S U.S. ECONOMIC CALENDAR:</span></span><br />
<br />
<b style="font-family: Arial,Helvetica,sans-serif;">8:30 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec US ISM-NY Business Index (previous 65.6 </span><br />
<br />
<b style="font-family: Arial,Helvetica,sans-serif;">9:45 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec DJ Economic Sentiment Indicator (previous 43.9)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;"></b><b style="font-family: Arial,Helvetica,sans-serif;">December 31, 2010</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">New Year's Eve; Govt offices closed. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> ____________________________________________________________<br />
<span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;">US STOCK MARKET SUMMARY, THURS., DEC.30, 2010:</span></span><br />
</span><br />
<b>STOCKS:</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">U.S. stocks edged lower Thursday amid a holiday week that was low volume, choppy, boosted by a falling dollar. </span><span style="font-family: Arial,Helvetica,sans-serif;">U.S. stocks are posting small declines Thursday. The Dow Jones Industrial Average shed 15 points, or 0.14%, to 11569.71. The Nasdaq Composite Index slid almost 4 points to close at 2662.98. The Standard & Poor's 500 index shed 0.15% to end the days trades at 1257.88. </span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><span style="font-family: Arial,Helvetica,sans-serif;">The week between Christmas and New Year, almost always a quiet interval for markets</span>.<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<br />
<br />
<b>TREASURYS:</b><br />
Treasury prices slipped a little further Thursday, pushing yields up, after reports showed fewer Americans filing for first-time jobless benefits than economists had forecast and pending home sales higher than predicted. Analysts noted that most bond investors would treat the session as the last of the year, even though the market is open for a half-day Friday. That will mean a lot of position adjustments and so-called window dressing of portfolios for the end of the month and year.<br />
<b>FOREX:</b><br />
The dollar had rallied sharply following upbeat economic readings on manufacturing, home sales and unemployment claims on Thursday, but has been unable to sustain momentum from those reports.<br />
<br />
On Wednesday, the dollar weakened broadly in light trading after strong demand for safe-haven Treasury debt fanned concerns about the U.S. economic recovery. <br />
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Tuesday the yen strengthened broadly as encouraging industrial production data from Japan and year-end positioning converged to increase demand for the Japanese currency. Data released during the Asian trading session showed that Japan's industrial output rose in November for the first time in six months, logging a seasonally adjusted 1% gain. <br />
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The euro rose against the dollar and yen on Monday in thin trading. The few traders in the market brushed aside initial concerns about China's interest-rate increase, opting to send the euro higher. The dollar touched a three-week low against the yen. The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners including the euro, yen and pound, declined 0.3 percent and touched the lowest since Dec. 17. The yen gained 0.1 percent to 82.81 versus the dollar at 5:02 p.m. in New York, compared with 82.88 on Dec. 24. The Japanese currency touched 82.66, the strongest since Dec. 7. The dollar declined 0.3 percent to $1.3165 per euro from $1.3122. <br />
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The Australian and New Zealand dollars weakened against most of their major counterparts as China’s rate increase damped the outlook for spending in one of the biggest export markets for commodities from the two South Pacific countries. The euro gained against 13 of its 16 most-traded counterparts after failing to break through a technical level. <br />
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The Swiss franc traded at 1.2641 versus the euro, compared with 1.2627, after touching 1.2439 on Dec. 22, the strongest level since the European currency began trading in 1999. <br />
<br />
Swiss National Bank President Philipp Hildebrand, who ended 15 months of intervening in foreign-exchange markets this year, may prove powerless to stop the currency from extending a record rally that he calls a “burden.” <br />
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© Copyright 1999-2011, Online Consultancy Network™. All Rights Reserved.</span><br />
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</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-31651165230545148782010-12-20T07:49:00.000-08:002011-01-09T08:36:41.563-08:00Stock Market Update - Dec.20 - Dec, 24, 2010 Cautious Choppy Gains Seen with Mixed Economic Data<div style="font-family: Arial,Helvetica,sans-serif;">Stock Market Update</div><div style="font-family: Arial,Helvetica,sans-serif;">Friday, December 24, 2010</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines:</span><br />
<b style="color: #990000;">The U.S. Market Will Be Closed Friday for the Christmas holiday.</b><br />
<b style="color: #990000;"></b><br />
Christmas Eve; Markets, banks, businesses and government offices are closed. <b style="color: #990000;"> </b></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>USA EQUITY INDEXES: (THURSDAY, DEC. 23; 4:05 PM EST)</b></div><b></b><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;"></span></b><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;"><i>(CLOSING INDEX NUMBERS) </i></span></b><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">DJIA 11,573.49 <span style="color: #274e13;">+14.00</span></span></b><br />
<b><span style="font-family: Arial,Helvetica,sans-serif;">NASDAQ 2,665.60 <span style="color: red;">-5.88</span></span></b><br />
<b><span style="font-family: Arial,Helvetica,sans-serif;">S&P 500 1,256.77 <span style="color: red;">-2.07</span></span></b><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>Dow Jones CLOSING Averages 12/23/2010: DJIA 11,573.49 UP 14.00</b><br />
30 INDUS 11,573.49 UP 14.00 OR 0.12%<br />
20 TRANSP 5,078.92 DN 19.90 OR 0.39%<br />
15 UTILS 405.73 UP 0.33 OR 0.08%<br />
65 STOCKS 4,026.91 DN 1.78 OR 0.04%</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>US COMMODITY PRICES:<i> (FRIDAY, DEC. 24; 11:15 AM EST)</i></b></div><span style="font-family: Arial,Helvetica,sans-serif;">Crude Oil 91.41 - 0.11%<br />
Natural Gas 4.08 - 1.66%<br />
Gasoline 2.44 +0.12%<br />
Heating Oil 2.54 +0.12%<br />
Gold 1385.12 + 0.37%<br />
Silver 29.26 - 0.17%<br />
Copper 4.25 - 0.40%%</span><br />
<br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">US DOLLAR FUTURES INDEX DXY: DEC. 24: 8:30AM EST: 80.48 <span style="color: red;">Down 0.23 (0.29%)</span></span><span style="font-size: small;"> </span></b></i><br />
<div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<br />
<span id="articleText"><i>Merry Christmas and Happy Holidays from the staff of the Online Consultancy Network.</i></span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. Dollar drops, Stocks Flat, Commodities Higher in Mixed Trading </span></div></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The DJIA closes up 14 points (0.1%) to end at 11,573.49, the S&P closed lower 2.07 points (-0.17%) to finish at 1256.77, and the NASDAQ finished 5.88 (-0.22%) lower to complete the week at 2665.60. U.S. blue-chip stocks edged higher Thursday while other stock-market measures drifted lower, trading in a tight range as a mixed bag of economic data left investors with little reason to make major position changes ahead of the holiday. Stocks and bonds were little changed in quiet trading Thursday after a report showed that consumers didn't increase their spending last month as much as analysts anticipated. The euro was trading at $1.3102 recently, up slightly from $1.3099 late Wednesday. The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, slipped 0.2%. <br />
<br />
The Dow Jones Industrial Average recently edged up 4 points to 11563. Earlier Thursday, the measure reached a fresh two-year intraday high at 11580.84. Alcoa led its climb with a 1.3% rise, while Hewlett-Packard and Verizon Communications each increased 0.8%. <br />
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Bank of America kept the measure's advance in check, falling 2%, although that erases only part of its Wednesday jump. Walt Disney was also weak, off 0.7%, while Travelers slipped 0.7%. <br />
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The Nasdaq Composite fell 0.3% to 2663. The Standard & Poor's 500-stock index declined 0.2% to 1296, with financials leading to the downside in a small pullback from the sector's Wednesday rally while materials and telecommunications stocks rose. <br />
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The activity followed a mixed round of economic data with few surprises, prompting investors to see little need to change their positions heading into the holiday. At Noon the dollar dropped to allow the major Wall Street indexes to finish the week in positive territory.<br />
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THURSDAY BEFORE THE BELL US stock futures remained slightly lower in mixed trading on Thursday morning as the dollar edged higher. Treasurys declined, lifting the yield on the 10-year note up to 3.37%. Crude-oil futures slipped but remained above $90 a barrel, while gold futures also edged lower. Investors awaited a slew of economic data ahead of the final trading day. US stock futures fell slightly Thursday morning following a bigger-than-expected drop in durable-goods orders and a smaller-than-projected increase in consumer spending for November. <br />
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WEDNESDAY: New York indexes finished higher, with the Dow Jones Industrial Average ending up 26.33 points, or 0.23%, to 11559.49 and the Nasdaq composite index rising 3.87 points, or 0.15%, to 2671.48. The broader Standard & Poor's 500-stock index finished up 4.24 points, or 0.34%, at 1258.84. <br />
<br />
<span style="font-size: large;"><i></i></span><br />
U.S. stocks wavered after U.S. 3Q economic growth missed economists' estimates while existing-home sales for November rise less than expected. The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, was flat. The euro slipped to $1.3087, reversing earlier gains from $1.3096 late Tuesday. <br />
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<b>WEDNESDAY:</b> BEFORE THE BELL U.S. stock futures are little changed, as investors await data on economic growth and existing home sales for more clues on the state of the economy.<br />
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The third estimate of U.S. third-quarter gross domestic product is due this morning. Crude Oil was trading above $90.18 a barrel, and the dollar is slightly lower than Tuesday's close.<br />
<br />
<br />
<b>TUESDAY:</b> U.S. equities closed higher Tuesday, along with a higher dollar. US blue-chip stocks closed at there highest level in more than two years The DJIA edged up 55.03 points (+0.48%) to 11,533.16. The S&P moved up 7.52 points (+0.60%) to 1254.60, NASDAQ also finished up 18.05 points (+0.68%) to 2667.61. The euro was recently trading at $1.3093, down from $1.3126 late Monday in New York. <br />
<br />
The blue-chip measure rose 50 points, or 0.4%, to 11528 in afternoon trading. The measure earlier hit its highest intraday point since September 2008 at 11534.37, and was on pace to finish at a two-year closing high. J.P. Morgan Chase climbed 2.6%, Bank of America added 2.1% and American Express advanced 1.8%. <br />
<br />
The Nasdaq Composite gained 0.6% to 2666, on track to hit a fresh three-year closing high. The Standard & Poor's 500-stock index rose 0.6% to 1254, set to reach its highest close since September 2008 and led by its financial sector. <br />
<br />
Financials received a boost from expectations that deal-making in the sector may continue next year after Canadian bank Toronto-Dominion Bank agreed to acquire Chrysler Financial, the auto lender owned by Cerberus Capital Management, for $6.3 billion. Shares of Toronto-Dominion rose 2.9%. <br />
<br />
The broader market also received a boost after China Vice Premier Wang Qishan said China supports efforts by European officials to stabilize the global markets hit by the euro zone's debt crisis. <br />
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Fitch Ratings became the third major credit rating agency this month to put Greece's ratings on review for a possible downgrade into junk territory. Still, the market had little reaction to the news, as investors have braced themselves for a long recovery in Europe. <br />
<br />
Mid-day Tuesday U.S. stocks climbed Tuesday, led by the overnight dollar's decline and M&A activity boosted hopes for more takeovers next year and a Chinese official's comments boosted sentiment around the fragile eurozone. The dollar weakened against both the euro and the yen. The euro was recently at $1.3116, down from $1.3120 late Monday. <br />
<br />
The Dow Jones Industrial Average rose 48 points, or 0.4% to 11526. Financial components led the measure in early trading, with J.P. Morgan Chase up 2%, American Express up 1.8% and Bank of America up 1.4%. <br />
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The Nasdaq Composite gained 0.4% to 2661. The Standard & Poor's 500-stock index rose 0.5% to 1253, also led by its financials sector. <br />
<br />
<br />
<b>TUESDAY:</b> Before the Bell heading into the open, futures on the DJIA and the SPX are trading roughly 22 points and 3 points above fair value, respectively. Look for the Dow to find support at 11,400-11,450, with resistance at 11,500-11,520. The SPX, has resistance at 1,250, and support at 1,240. The dollar moved lower overnight as the Euro gained supported by market news that Asian interests may move to support European markets and it currency. The euro gained on speculation investments by China, which holds a record $2.65 trillion in foreign-exchange reserves, will ease Europe’s sovereign fiscal crisis. The euro climbed 0.2 percent to $1.3154 as of 6:23 a.m. in New York. <br />
<br />
<br />
<b>MONDAY:</b> U.S. Stocks closed flat in choppy low volume trading Monday with energy stocks getting a boost by colder temperatures. Precious metals gain on valid on economic concerns. The DJIA was down 13.85 (-0.12%) to 11478.13, S&P up 3.17 (+0.26%) to 1247.08, NASDAQ up 6.59 (+0.25%) to 2649.56.<br />
<br />
The EURUSD extended Friday’s decline to reach an intraday low of 1.3124 during the overnight trade, and late Monday, the euro was at $1.3120 as debt contagion fears in the Euro-Zone continue to weigh on investors. The euro slipped below $1.31 on Monday, falling briefly below its 200-day moving average. The ICE Dollar Index, which tracks the greenback against a trade-weighted basket of currencies, was at 80.599 late Monday.The dollar was at Y83.73 from Y83.96, while the euro was at Y109.90 from Y110.66. The U.K. pound was at $1.5514 from $1.5520. The dollar was at CHF0.9652 from CHF0.9703. The euro's drop against the Swiss franc fueled some speculation the Swiss central bank could step into currency markets, exploiting thin end-of-year liquidity to halt the currency's rise. <br />
<br />
In afternoon trading, the dollar relaxed earlier gains and the DJIA was 11,498.76 up 6.85 points at 2:30 p.m. EST. The S&P was up 4.75 points and Nasdaq was 13.51 point higher.<br />
<br />
U.S. equities moved slightly lower by 10:30 AM on light trading as the dollar regained Friday's position. The Dow Jones Industrial Average fell 23 points, or 0.2%, to 11474. The Nasdaq Composite shed 0.2% to 2637. The Standard & Poor's 500-stock index edged down less than one point to 1244.<br />
<br />
The euro fell to a series of all-time lows against the Swiss franc as investors concerned about the euro zone's festering government-debt problems continued to shun the common currency. The euro was trading recently at $1.3117, down from $1.3182 late Friday in New York. The U.S. Dollar Index, which tracks the dollar against a basket of other currencies, gained 0.3%. <br />
<br />
</div><span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;">MONDAY: At The Open: </span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">U.S. stocks opened higher on Monday. Stocks started the holiday-shortened week modestly green on Monday morning extending two weeks of low volume trading, showing slight gains as the market was boosted by a choppy lower dollar before the bell and rising materials stocks. </span><span style="font-family: Arial,Helvetica,sans-serif;">The Dow Jones Industrial Average gained 12 points, or 0.1%, to 11503. Materials companies led the Dow higher, with Caterpillar rising 0.8%.The Nasdaq Composite rose 0.3% to 2651. The Standard & Poor's 500-stock index rose 0.3% to 1247.</span><span style="font-family: Arial,Helvetica,sans-serif;"> BEFORE THE BELL: U.S. Futures Up as the Dollar declined just before the bell.</span><span style="font-family: Arial,Helvetica,sans-serif;"> President Barack Obama signed a $858 billion package Friday renewing tax cuts for another two years and extending expiring unemployment benefits through next year.</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CRUDE OIL:</span><br />
<div style="text-align: left;"></div><span style="font-family: Arial,Helvetica,sans-serif;"> <b>FRIDAY: </b>Market Closed</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"> <span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Gasoline Prices Hit $3 a Gallon Nationwide</span><br />
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Today, the national average price for a gallon of gas has risen to over $3 a gallon for the first time since October, 2008, when it felt like the bottom had just dropped out of the American economy.<br />
<br />
According to the AAA Fuel Gauge Report, the price for a gallon of gasoline nationwide hit $3.013. California once again has the highest gas prices in the Lower 48 states, hovering at about $3.27 a gallon. In total, 26 states plus the District of Columbia have gas prices exceeding $3 a gallon, while Colorado has the lowest average gas prices, about $2.75 a gallon. The rise in gas prices coincides with a rise in crude prices, which recently topped $90 a barrel...another high not seen since October 2008.</span><br />
<br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">THURSDAY: U.S. CRUDE OIL: $91.61 per barrel </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">THURSDAY OIL FUTURES: Nymex Crude Closes Up $1.11 At $91.59/Bbl <br />
Feb. crude oil futures were up 13 cents to $90.61 at 6:41 am ET, Jan. reformulated gasoline futures were up 0.63 cent to 241.82 cents and Jan. heating oil futures were up 0.19 cents to 254.21 cents in quiet pre-holiday trading.<br />
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WEDNESDAY: U.S. Crude Oil: $90.63 per barrel</div><div style="font-family: Arial,Helvetica,sans-serif;">WEDNESDAY'S OIL FUTURES: Nymex Crude Settles Up 66c At $90.48/Bbl <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Crude Oil Hits Two-Year High On Drop In US Oil Stockpile Supply </span><br />
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Crude futures rose to a fresh two-year high Wednesday after a government report showed continued declines in weekly U.S. oil stockpiles.The data helped confirm a similar report late Tuesday from the American Petroleum Institute, a trade group, which reported U.S. crude stockpiles fell by 5.8 million barrels. <br />
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Light, sweet crude for February delivery recently traded 70 cents, or 0.8%, higher at $90.52 a barrel on the New York Mercantile Exchange, after hitting $90.80, the highest price since October, 2008. Brent crude on the ICE futures exchange traded 50 cents higher at $93.70 a barrel. <br />
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U.S. crude stockpiles fell by 5.3 million barrels in the week ended Dec. 17, the U.S. Department of Energy reported. The decline was much larger than the 2.3 million-barrel drop analysts had expected. <br />
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Gasoline stockpiles rose by 2.4 million barrels, while stocks of distillates, which include heating oil and diesel, fell by 600,000 barrels.<br />
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Front-month January reformulated gasoline blend-stock, or RBOB, recently traded 2.07 cents higher at $2.4192 a gallon. January heating oil recently traded 1.64 cents higher at $2.5328 a gallon. <br />
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<b>Department of Energy Reported: </b><br />
DOE: US Refineries Ran At 87.7%; Seen 87.80% <br />
Refineries Ran At 87.7% Vs 88.0% Week Ago</div><span style="font-family: Arial,Helvetica,sans-serif;">US Crude Oil Stocks -5.333M Bbl In Wk; Seen -2.3M Bbl</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">US Crude Oil Stocks -5.333 Mln Bbl At 340.685 Mln Bbl </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">US Distillate Stocks -0.589 Mln Bbl At 160.716 Mln Bbl</div><div style="font-family: Arial,Helvetica,sans-serif;">US Gasoline Stocks +2.4M Bbl In Wk; Seen +0.9M Bbl </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">TUESDAY OIL FUTURES: Nymex Crude Settles 45 Higher At $89.82/Bbl <br />
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Oil prices settled at a fresh two-year high Tuesday, lifted by a stronger stock market and upbeat sentiment on the U.S. economy. <br />
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Light, sweet crude for January delivery finished up 45 cents, or 0.5%, at $89.82 a barrel on the New York Mercantile Exchange, the highest settlement since October 2008. Brent crude on the ICE futures settled up 46 cents, or 0.5%, at $93.20 a barrel. <br />
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Nymex crude traded as high as $89.97 midway through the day, but fell short of the $90 price point that many investors view as a key threshold. <br />
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Front-month Brent crude on the ICE futures exchange hit a two-year high of $93.22 a barrel before falling back to $92.57, down 17 cents, or 0.2% so far for the day. On the New York Mercantile Exchange, light, sweet crude for February delivery slipped 6 cents, or 0.1%, at $89.31 a barrel.<br />
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<b><i>Wednesday, oil market participants will turn their attention to the Department of Energy's report on U.S. energy inventories, which last week showed a 9.9 million-barrel decline in crude stocks. </i></b><br />
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MONDAY'S OIL FUTURES: Nymex Crude Closes 79c Higher At $88.81/Bbl </div><span style="font-family: Arial,Helvetica,sans-serif;">Light, sweet crude for January delivery settled up 79 cents, or 0.9%, at $88.81 a barrel on the New York Mercantile Exchange. With the January contract expiring Monday, February crude rose 77 cents, or 0.9%, settling at $89.37. Brent crude on the ICE futures rose $1.07, or 1.2%, to finish at $92.74 a barrel. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Gasoline futures leaped higher on reports that Hovensa LLC has delayed by a week the restart of its gasoline-making unit at its 500,000-barrel-a-day St. Croix refinery. </span><span style="font-family: Arial,Helvetica,sans-serif;">January reformulated gasoline blend-stock, or RBOB, settled up 6 cents, or 2.6%, at $2.3778 a gallon. </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NATURAL GAS:</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY:</b> Natural Gas: $4.07 <br />
THURSDAY US GAS: Futures Settle 1.7% Lower At $4.083/MMBtu<br />
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January natural gas was trading in negative territory all session heading into today's inventory data. Following the data, which showed a draw of 184 bcf versus consensus of a draw down of 180 bcf, natural gas saw a mixed reaction to the data and is now 1.0% lower at $4.11 per MMBtu.<br />
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WEDNESDAY: Natural Gas: $ 4.14</div><div style="font-family: Arial,Helvetica,sans-serif;">WEDNESDAY'SUS GAS: Futures Close 2.1% Higher At $4.14/MMBtu </div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Natural gas futures regained some ground Wednesday ahead of an expected report of a large draw of gas from storage. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Natural gas for January delivery on the New York Mercantile Exchange settled 9.3 cents, or 2.3%, higher at $4.152 a million British thermal units after opening 1 cent higher at $4.069/MMBtu. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Traders expect the U.S. Energy Information Administration to report on Thursday morning a larger-than-normal withdrawal of gas from storage due to colder-than-usual temperatures last week, which lent support to gas futures prices. </span><br />
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</div><span style="font-family: Arial,Helvetica,sans-serif;">FUTURES SETTLEMENT NET CHANGE</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Nymex Jan $4.152 +9.3c</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Nymex Feb $4.188 +10.4c</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Nymex March $4.196 +10.0c</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">CASH HUB RANGE PREVIOUS DAY</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Henry Hub $3.97-$4.05.....$4.0825-$4.21</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Transco 65 $3.95-$4.06.....$4.10-$4.17</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Tex East M3 $5.00-$7.72....$7.50-$9.00</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Transco Z6 $5.25-$8.00.....$8.50-$10.00</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">SoCal $3.8875-$3.95.....$4.025-$4.16</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">El Paso Perm $3.7525-$3.83.....$3.91-$4.00</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">El Paso SJ $3.75-$3.81......$3.88-$3.99</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Waha $3.80-$3.84......$3.92-$4.02</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Katy $3.875-$3.9525.... $4.0275-$4.11</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PRECIOUS METALS: </span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY: Gold: $1,380</b></div><b style="font-family: Arial,Helvetica,sans-serif;">THURSDAY: Silver: $29.26</b><br />
<div style="font-family: Arial,Helvetica,sans-serif;">Thursday's thinly traded December contract settled down $6.80, or 0.1%, at $1,380.00 a troy ounce on the Comex division of the New York Mercantile Exchange. The most actively traded contract, for February delivery, settled down $6.90, or 0.1%, at $1,380.50.<br />
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Engelhard Corp's base price for industrial gold bullion was $1376.48 per troy ounce, down $13.53 from previous. It's selling price for gold in fabricated form was $1479.72, down $14.54.<br />
Handy & Harman's base price for gold was $1373.50 per troy ounce,down $13.50. The fabricated form price was $1483.38, down $14.58.<br />
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<b>Settlements (range includes floor and electronic trading):</b><br />
London PM Gold Fix: $1,373.50; previous PM $1,387.00 </div><div style="font-family: Arial,Helvetica,sans-serif;">Feb gold $1,380.50, down $6.90; Range $1,372.60-$1,389.00<br />
Mar silver $29.328, down 5.7 cents; Range $28.945-$29.420<br />
Jan platinum $1,723.10, down $7.80; Range $1,711.00-$1,731.90<br />
Mar palladium $758.10, up $2.95; Range $744.70-$755.60<br />
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Feb. gold futures, which have surged this year, were off $3.60 to $1383.80 at 6:35 am ET on profit taking. Speculators frustrated by inability to push yellow metal past the $1400 level after another a range bound session in Asia. Euro-area debt concerns will continue to underpin on dips, but buying momentum is limited, with stocks performing well and economic fundamentals improving. March silver futures were off 15.5 cents to $29.23. Jan. platinum futures were off $1.80 to $1729.10 and March palladium futures were off $4.40 to $750.75.<br />
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WEDNESDAY: Gold: $ 1,386</div><div style="font-family: Arial,Helvetica,sans-serif;">WEDNESDAY: Silver:$ 29.25</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
WEDNESDAY: The most actively traded contract, for February delivery, was recently down 0.1%, or $1.40, at $1,387.40 per troy ounce on the Comex division of the New York Mercantile Exchange.<br />
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Engelhard Corp's base price for industrial gold bullion was $1390.01 per troy ounce, up $4.01 from previous. It's selling price for gold in fabricated form was $1494.26, up $4.31.<br />
Handy & Harman's base price for gold was $1387.00 per troy ounce, up $4.00. The fabricated form price was $1497.96, up $4.32. <br />
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<b>TUESDAY:</b> The most actively traded contract, for February delivery, settled up $2.70, or 0.2%, at $1,388.80 per troy ounce on the Comex division of the New York Mercantile Exchange. The thinly traded front-month contract, for December delivery, settled up $2.70, or 0.2% higher, at $1,388.20 per troy ounce. Precious metals futures rise as the dollar weakens before the bell. <br />
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Engelhard Corp's base price for industrial gold bullion was $1386.00 per troy ounce, up $3.00 from previous. It's selling price for gold in fabricated form was $1489.95, up $3.23.<br />
Handy & Harman's base price for gold was $1383.00 per troy ounce, up $3.00. The fabricated form price was $1493.64, up $3.24. <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY:</b> Gold futures rose Monday as the dollar relaxed its earlier gains and economic concerns weighed. Comex gold futures settled higher Monday as global political and economic worries saw traders cover previously sold short positions. <br />
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The most actively traded contract, for February delivery, settled up 0.5%, or $6.90, at $1,386.10 a troy ounce on the Comex division of the New York Mercantile Exchange. The thinly traded December-delivery contract gained 0.5%, or $6.90, to settle at $1,385.50 per troy ounce. <br />
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<b>Monday Settlements (range includes floor and electronic trading):</b><br />
London PM Gold Fix: $1,380.00; previous PM $1,368.50<br />
Feb gold $1,386.10, up $6.90; Range $1,376.60-$1,388.90<br />
Mar silver $29.355, up 22.2 cents; Range $28.810-$29.560<br />
Jan platinum $1,710.70, up $12.20; Range $1,698.40-$1,711.70<br />
Mar palladium $744.75, up $6.15; Range $736.35-$749.90 <br />
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Engelhard Corp's base price for industrial gold bullion was $1383.00 per troy ounce, up $11.52 from previous. It's selling price for gold in fabricated form was $1486.72, up $12.38.<br />
Handy & Harman's base price for gold was $1380.00 per troy ounce, up $11.50. The fabricated form price was $1490.40, up $12.42.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BASE METALS:</span> <br />
<b>THURSDAY:</b> Copper $4.25 per pound <br />
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Thursday's Comex copper futures settled lower. The most actively traded contract, for March delivery, settled down 1.65 cents at $4.2585 per pound on the Comex division of the New York Mercantile Exchange. <br />
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<i>Comex copper future trading closed an hour early Thursday, at 12 p.m. EST, in observance of the Christmas day holiday Friday</i>. <br />
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The most actively traded contract, for March delivery, settled down 1.65 cents at $4.2585 per pound Comex division of the New York Mercantile Exchange. Copper prices began declining overnight as investors across the globe moved to cash positions ahead of the Christmas holiday Friday.<br />
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WEDNESDAY<b> :</b> Copper $ 4.27 a pound <br />
TUESDAY:<b> </b>Copper $ 4.28 a pound<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Copper Settles At All-Time Record</span></div>Comex copper futures vaulted to fresh record highs Tuesday on upbeat Chinese trade data and a supply interruption at one of the world's largest copper mines. <br />
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The most actively traded contract, for March delivery, was recently up 1.7%, or 7 cents, at $4.2760 per pound on the Comex division of the New York Mercantile Exchange. The contract hit a new all-time record of $4.2895 earlier this morning, breaching the $4.2605 level set amid thin trading on May 5, 2008. <br />
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Copper prices revved up after China, the world's largest copper consumer, said its imports of refined copper rose 37% in November from a month earlier, to 232,298 metric tons. November imports are up 19% from a year earlier. <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">The report sent copper prices on both sides of the Atlantic to record highs. Three-month delivery copper on the London Metal Exchange set a record of $9,392 per metric ton before closing trade at $9,365 per metric ton.<br />
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<b>Tuesday Settlements (range includes floor and electronic trading):</b><br />
Dec copper $4.2705, up 7 cents; Range $4.2170-$4.2805<br />
Mar copper $4.2760, up 7 cents; Range $4.1920-$4.2895</div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS:</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY:</b> Treasurys declined, lifting the yield on the 10-year note to 3.38%. Treasury prices came under pressure on Thursday, pushing yields up and towards a weekly rise. Yields on 10-year notes (UST10Y) , which move inversely to prices, rose 4 basis points to 3.39%. A basis point is one one-hundredth of a percent. <br />
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Yields on 2-year notes (UST2YR) rose 2 basis points to 0.66%. <br />
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Thirty-year bond yields (UST30Y) edged up by 1 basis points to 4.46%. <br />
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The bond market is expected to close at 2 p.m. Eastern time Thursday and remain shut on Friday for Christmas. The government will auction $35 billion in 2-year notes on Monday, followed by $35 billion in 5-year debt (UST5YR) on Tuesday. A sale of $29 billion in 7-year notes (UST7YR) on Wednesday will end the sales in what will be another holiday-shortened week. Treasurys declined at market open, lifting the yield on the 10-year note up to 3.37%. </div><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">WEDNESDAY: Treasurys fell Wednesday after the Federal Reserve completed its last bond purchase of the week and as market participants anticipated stronger upcoming data and year-end Treasury note auctions. </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><br />
With Fed bond purchases out of the way for the week, Treasurys market participants were anticipating stronger data Thursday, with durable-goods orders in November seen down just 0.6% after they fell 3.4% in October. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">In afternoon trading, the two-year Treasury was off 1/32 to 0.630%, the seven-year note was off 11/32 to 2.721% and the 10-year Treasury was off 11/32 to yield 3.346%. The 30-year bond was off 14/32 to 4.445%. <br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Treasury prices were little changed. the Fed is expected to buy about $2.5 billion in Treasurys maturing in the next 11 to 17 years in its last Treasury buying operation of the week. Thus far this week, the Fed has already bought $23.978 billion in Treasury securities in four operations. </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> <br />
After Wednesday's purchase, the Fed will have just two buying operations left on its schedule before year-end. Unlike this week's purchases, those operations will be met with a hefty amount of supply. The government next week, in its final round of note sales for 2010 is expected to sell some $99 billion new notes, <br />
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Traders said the prospect of another Treasury purchase from the Federal Reserve was also helping the U.S. government bond market to improve a bit.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">In recent trading, the two-year Treasury note was flat to yield 0.606%, the seven-year note was flat to yield 2.669% and the 10-year Treasury was flat to yield 3.303%. The 30-year was flat to yield 4.418%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>TUESDAY:</b> Demand for Treasurys was mixed, with declines in the two-year note lifting its yield to 0.61% while increasing demand for the 10-year note pushed its yield down to 3.33%. At the market open, demand for Treasurys was mixed. The two-year note was slightly lower, while the 10-year note rose, pushing its yield down to 3.34%. <br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><b>MONDAY:</b> Treasury prices deteriorated into the afternoon Monday after the Federal Reserve bought Treasurys twice in thin, year-end trading conditions. In recent trading, Treasurys maturing in the next five to 30 years were lagging, with the 30-year the hardest hit. The 30-year was off 10/32 to 4.461% and the 10-year down 4/32 to yield 3.353%. The Fed's Treasury holdings have surpassed $1 trillion after the second round of POMO today. The two year was flat to 0.605%. <br />
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Treasury prices pushed up Monday as the holiday-shortened week kicked off, spurred higher ahead of hefty purchases of Treasurys by the Federal Reserve. Demand for Treasurys increased, sending the yield on the 10-year note down to 3.32%. <br />
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The Fed will buy Treasurys twice Monday in what will likely be the largest one-day Treasury purchase it has done thus far. The Fed is expected to buy a total of $13 billion to $17 billion Treasurys Monday, first with a morning purchase of notes maturing in the next eight to 10 years, and then with an afternoon purchase of four to six-year Treasury securities The Fed will also buy Treasurys twice Tuesday, for a total of $8 billion to $11 billion. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">In recent trading, the 10-year note was up 15/32 to 3.278% and the five-year note was up 8/32 to 1.909%. The two-year was up 1/32 to 0.589% and the 30-year up 25/32 to yield 4.392%. The gains add to a bond market rally on Friday, further helping Treasurys to recover a bit from their recent sell-off. The gains add to a bond market rally on Friday. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><i style="color: #0c343d;">MARKET NOTE: The bond market will close early Thursday and be closed Friday for the Christmas holiday in the U.S. </i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY, DEC. 23, 2010; 12:45 PM EST:</b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">3 Month 0.12% +0.01 (9.09%)<br />
6 Month 0.18% 0.00 (0.00%)<br />
2 Year 0.65% 0.00 (0.00%)<br />
5 Year 2.04% +0.02 (0.99%)<br />
10 Year 3.38% +0.01 (0.30%)<br />
30 Year 4.45% +0.01 (0.23%)<br />
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</div><br />
<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">U.S. ECONOMIC NEWS:</span></span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>FRIDAY:</b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">New Tax Law Packed With Obscure</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Business Tax Cuts</span><br />
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WASHINGTON (AP) — The massive new tax bill signed into law by President Barack Obama is filled with all kinds of holiday stocking stuffers for businesses: tax breaks for producing TV shows, grants for putting up windmills, rum subsidies for Puerto Rico and the Virgin Islands.<br />
There is even a tax break for people who buy race horses.<br />
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Millions of homeowners, however, might feel like they got a lump of coal. Homeowners who don't itemize their deductions will lose a tax break for paying local property taxes.<br />
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The business tax breaks are part of sweeping legislation that extends Bush era tax cuts for families at every income level through 2012. Obama signed the $858 billion measure a week ago. It also provides a new payroll tax cut for wage earners and extends jobless benefits to the long-term unemployed.<br />
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Most of the business tax breaks — about 50 in all — are part of a package that expires each year, creating uncertainty for tax planners but lots of business for lobbyists. Many of these tax breaks have been around for years but expired at the end of 2009 because lawmakers couldn't agree how to pay for them.<br />
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The new law extends most of them through 2011, some through 2012. They will be paid for with borrowed money.<br />
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Nearly 1,300 businesses and trade groups formed a coalition urging Congress to extend the business tax breaks. Others lobbied for specific provisions, including a generous tax credit for research and development and subsidies to produce alternative energy.<br />
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There is a generous tax break for banks and insurance companies that invest overseas, a tax credit for railroad track maintenance, more generous write-offs for upgrading motorsport race tracks, and increased deductions for businesses that donate books and computers to public schools and libraries.<br />
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Many of the tax breaks are designed to encourage economic activity. But passing them each year at the last minute, or skipping a year and passing them retroactively, isn't terribly efficient, said Clint Stretch, a tax expert at Deloitte Tax LLP. "It gives it a lot of dignity to call it a 'system,' " Stretch said.<br />
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Every year, taxpayers risk losing their favorite tax breaks, if they are not renewed. That's what happened to millions of homeowners. For 2008 and 2009, homeowners who didn't itemize their deductions were able to get an extra deduction — on top of the standard deduction — for paying local property taxes. Individuals could reduce their taxable income by as much as $500, couples could cut theirs by $1,000.<br />
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The provision, which has saved homeowners about $1.6 billion a year, expired for 2010 and was left out of the new tax law.<br />
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"A lot of Americans don't make so much money that they itemize their tax returns. But those same Americans own property," said Sen. Max Baucus, D-Mont., who sponsored the original tax break. "It seems to me that they, too, should have the ability to deduct it. It's a matter of equity."<br />
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Taxpayers who itemize will continue to be able to deduct local property taxes. About two-thirds of tax filers don't itemize.<br />
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<b>Among the provisions in the new law:</b><br />
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—A tax break that allows profitable companies to write off large capital expenditures immediately — rather than over time — giving some companies huge tax shelters.<br />
The tax break, known as bonus depreciation, benefits automakers, utilities, heavy equipment makers like Caterpillar Inc., and John Deere, air freight companies like Fedex Corp., and wireless companies like Verizon and AT&T, said Anne Mathias, director of research for the Washington Research Group, which provides research to institutional and corporate investors. It will save companies nearly $21 billion over the next decade.<br />
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"It helps companies that use expensive capital equipment, that spend a lot of money," Mathias said. "It also helps places where the economy is growing, like wireless infrastructure, because there is a pretty big wireless build out right now."<br />
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The tax break is also available to people who buy race horses and farmers who buy cattle for breeding or dairy, according to a depreciation list produced by the Internal Revenue Service.<br />
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—An exemption that allows banks, insurance companies and other financial firms to shield foreign profits from being taxed by the U.S. through 2011. Cost: $9.2 billion.<br />
The tax break is important to major multinational banks and financial firms, such as Citigroup, Bank of America, Goldman Sachs and Morgan Stanley, and to the financing operations of other international companies, Mathias said.<br />
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—A tax credit for research and development, benefiting a wide range of industries, including pharmaceutical and high tech companies. The law extends the tax credit through 2011, at a cost of $13.3 billion.<br />
"The House and the Senate are in the holiday spirit and giving US companies a present of $13 billion in potential R&D Tax Credits!" says a press release by Braithwaite Global Inc., a firm that advises companies on applying for research tax credits.<br />
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—Increased tax rebates to Puerto Rico and the Virgin Islands from a tax on rum imported into the United States. The U.S. imposes a $13.50 per proof-gallon tax on imported rum, and sends most of the proceeds to the two U.S. territories.<br />
Previously, the rebate was $10.50 a gallon. The new law extends a more generous rebate of $13.25 a gallon through 2011. Cost: $262 million.<br />
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—Extends a grant program for the production of wind, solar and other renewable energy through 2011. Cost: $3 billion.<br />
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"This is a great holiday present for the 85,000 American workers in the wind energy industry, tens of thousands of whom will now be able to get back to work in a sector that has been a bright spot in the recession so far," Denise Bode, CEO of the American Wind Energy Association, said in a statement.<br />
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—Extends a 50 percent tax credit for expenses related to railroad track maintenance through 2011. Cost $331 million.<br />
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—Enhanced deductions for companies that donate food to the needy, books to public schools or computers to public libraries, through 2011. Cost: $537 million.<br />
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—A tax break that allows TV and movie productions to more quickly write off expenses, extended through 2011. Sexually explicit productions are ineligible. Cost: $101 million.<br />
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THURSDAY: </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Soybean Futures Hit 28-Month High</span><br />
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U.S. soybean futures rallied to a fresh 28-month high Thursday on strong demand and concerns about the development of Argentina crop. <br />
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Soybeans for January delivery at the Chicago Board of Trade were recently up 15 3/4 cents, or 1.2%, to $13.44 1/2 a bushel. The March contract, which is the most actively traded, reached similar highs. <br />
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The soybean market has rallied in the last month, boosted by potential crop problems in Argentina, which has been plagued by hot and dry weather. While the weather poses more immediate problems to corn that's in a crucial growth stage, the soybean crop could be threatened as well, analysts say. <br />
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Corn futures have set new 29-month highs this week, with the March contract recently trading near flat at $6.09 1/4 a bushel. <br />
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Argentina is the world's third-largest producer of soybeans behind the U.S. and Brazil. The South American country is being counted on to relieve the strain on U.S. supplies amid strong global demand. The Argentina soybean crop will reach a critical stage in their development next month ahead of a spring harvest. <br />
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Global soybean demand continues to be robust. The U.S. Department of Agriculture reported Thursday that weekly export sales were up sharply from a week ago. The USDA also announced new export sales to an undisclosed destination. <br />
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Traders also are anticipating that index funds will pour more money into agricultural commodities at the start of the year, pushing prices higher, analysts said. <br />
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The USDA reported weekly export sales of 827,800 metric tons, up from 173,600 the prior week. Traders were expecting anywhere between 400,000 and 1.2 million metric tons. The government also reported a new sale of 150,000 metric tons to an undisclosed destination. <br />
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Traders said the U.S. Census Bureau's November soybean crush report issued Thursday was in line with expectations. The bureau reported the November soybean crush, which is the amount of soybeans crushed into oil and meal, at 155.0 million bushels, up slightly from the average analyst estimate of 154.7 million bushels. <br />
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The number was down from the prior month's total of 157.2 million, due in part to the higher soybean prices, which pressured margins, analysts said. <br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">CONSUMER SENTIMENT</span></span><br />
<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;"> SOMEWHAT IMPROVES</span></span><br />
The final Consumer Sentiment Survey for December from the University of Michigan came in at 74.5, which is slightly better than the preliminary reading of 74.2. The final December reading is the second best of the past two years, behind only a reading of 76.0 this past July.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NEW HOME SALES INCREASE</span><br />
<span style="font-size: small;"><i><b>Builders Sold Fewer New Homes Than Forecast in November </b></i></span><br />
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New home sales for November increased 5.5% month-over-month to an annualized rate of 290,000 units, but that was a bit below the rate of 300,000 units that had been expected, on average, among economists polled by Briefing.com. Nonetheless, the 5.5% increase makes for a nice follow up to the 10.7% drop that occurred in October.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FANNIE, FREDDIE MORTGAGE DELINQUENCY DATA</span><br />
Fannie Mae says serious delinquencies on single-family mortgages declined further in October from September, while Freddie Mac says such delinquencies rose in November for a second straight month, after declining since February.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">DURABLE GOODS DECLINED </span></div><div style="font-family: Arial,Helvetica,sans-serif;">Slumping demand for airplanes offset gains in other parts of the factory sector and caused U.S. durable goods orders to fall below expectations during November. Durable-goods orders decreased by 1.3% to a seasonally adjusted $193.71 billion, the Commerce Department said. The drop was more than double the 0.6% drop that was projected by economists. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The report showed a key barometer of capital spending, new orders for non-defense capital goods excluding aircraft, rose, by 2.6%--an indication businesses are spending as the economy recovers. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CONSUMER SPENDING DECLINED </span></div><div style="font-family: Arial,Helvetica,sans-serif;">Separate data showed U.S. consumer spending was modest in November after rising by the largest amount in more than a year in October. Consumer spending rose by 0.4% in November while Americans' incomes grew by 0.3%. Economists had forecast spending would increase by 0.5% and incomes by 0.2% in November. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">420,000 MORE AMERICAN'S LOST THEIR JOBS LAST WEEK </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Initial unemployment claims fell by 3,000 to 420,000 in the week ended Dec. 18, the Labor Department said in its weekly report. The previous week's figures were revised upward slightly to 423,000 from 420,000.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">WEDNESDAY: </span><br />
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<span style="font-size: x-large;">A SOBERING REALITY </span><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Inflation, Oil and Gold All Rise Together</span></div><div style="font-family: Arial,Helvetica,sans-serif;"> By Benjamin Train</div><div style="font-family: Arial,Helvetica,sans-serif;">Wednesday, December 22, 2010</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The upward price trend in the global price of crude oil, commodities, precious metals <i></i>and agricultural commodities are all extremely clear signals that global inflation is the actual condition of the economic exchange traded currencies.<br />
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Any government agency that excludes those items from their reported inflation figures are committing a fraud. Anyone who studies economics understands that a given commodity's price is governed by demand and the price paid for that commodity.<br />
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By "inflation" one generally means a persistent rise in the general price level in a basket of items, rather than a once-time rise in a single item, while "deflation" is persistent falling price level for a basket of items. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">A situation is described as inflationary when the prices paid for an item rises, and the supply of money are rising together.</span> <span style="font-family: Arial,Helvetica,sans-serif;">If the money, and or currency has declined in value, it generates a higher price for the given item purchased. If that item is a gallon or liter of petrol. then the price would increase at the rate of the devalued currency used to purchase it . The U.S. Dollar has declined by more than 25% percent in the last 12 months. Therefore most of everything that is dollar denominated has risen by at least that amount in the same period of time.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">An inflationary situation is also where there is too much money chasing too few goods.This is basically when the aggregate demand in an economy exceeds the aggregate supply. As products/services are scarce in relation to the money available in the hands of buyers, prices of the products/services rise to adjust for the larger quantum of money chasing them.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">There are several additional economic conditions that are also deemed inflationary. But without developing a complete treatise here in this posting on basic economic, I'd say that much of the economic data published by the U.S. Government and Federal Reserve is a smoke and mirror facade. The inflation-adjusted rise of an item is more "expensive" by standards, but generates more of a "mean" price guideline, than one that is not. A seasonally adjusted figure is an entirely different form of "mean" number generator system.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">When prices are noted as rising and the population is told that "inflationary pressures </span><span style="font-family: Arial,Helvetica,sans-serif;">were even more muted than previously expected". That U.S. inflation is "flat", after we eliminate energy and food to get it, is useless and not the truth. But what baffles me more is that the U.S. media blindly reports what it is told, and somehow the public and analysts simply go along with it. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Eliminating energy and food from key core inflation numbers </span><span style="font-family: Arial,Helvetica,sans-serif;">as a public statement is not in the public's best interest, and it is a violation of a public trust and obligation given to our government officials. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Estimated U.S. Economy Growth 2.6%</span></div><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">The Commerce Department showed that the US economy expanded at a 2.6 percent annual rate in the third quarter, below expectations,</span><span style="font-size: small;"> </span><span style="font-size: small;">the final revision shows</span><span style="font-size: small;"> .</span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The revised increase in gross domestic product compares with a 2.5 percent estimate issued last month and was less than the median forecast of a 2.8 percent. Wednesday's number, the third and final one made by the government for the July-through-September period, missed economists' expectations for GDP to have risen by a higher 2.9%. The main revisions were to consumer spending, which rose by less than previously estimated, and to company inventories, which increased by more than previously thought. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Economists’ projections ranged from gains of 2.5 percent to 3.3 percent, according to the Bloomberg survey of 71 economists. Today’s report is the third and final for the quarter after a 1.7 percent pace in the previous three months. </span><br />
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Inventories rose more than initially reported, while the rise in household purchases was revised down.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Gauges measuring non-consumer inflation were even more muted than previously expected. The government's price index for personal consumption showed a 0.8% rise July through September, compared to a previously estimated 1.0% increase.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Federal Reserve's preferred gauge-the PCE price index <i>excluding volatile food and energy</i> items-rose at an annual rate of just 0.5% in the third quarter, the lowest since quarterly records began in 1959. That's lower than the original estimate of a 0.8% increase and down from the second quarter's 1.0% increase. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. EXISTING HOME SALES</span></div><span style="font-family: Arial,Helvetica,sans-serif;">U.S. sales of used homes was reported by the Government Wednesday to be higher. If you find that hard to believe, well so do real estate agents and home sellers. They only sells realized have been short sales from banks dumping used foreclosed home to foreign investor pools. The U.S. Government reported an increase of 5.6% in November to a <i><u>"seasonally adjusted annual rate"</u></i> of 4.68 million, lower than the 4.72 million rate expected by economists. Prices for existing homes rise 0.4% to a median price of $170,600.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">A high level of unsold homes has contributed to the recent drop in prices. The inventory of previously owned homes listed for sale shrunk by 4.0% at the end of November to 3.71 million available for sale. That represented a 9.5-month supply at the current sales pace, compared with a 10.5-month supply in October. But a big supply of unlisted bank-owned homes and potential foreclosures loom on the horizon, a "shadow inventory" that could push down prices. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Foreclosures have climbed because Americans out of work couldn't keep up with payments on mortgages taken out during the housing boom. The NAR said distressed properties accounted for about a third of sales in November.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Government House Price Index</span> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">U.S. home prices rose 0.7% from September to October but took a deeper than initially estimated fall from August to September, the Federal Housing Finance Agency's latest House Price Index shows. <br />
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U.S. home prices were 3.4% below their October 2009 level and 14.5% below their April 2007 peak, the agency said Wednesday. Home prices fell a revised 1.2% from August to September. The FHFA had initially estimated home prices fell 0.7% from August to September.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The FHFA uses loans backed by government-sponsored mortgage companies Fannie Mae and Freddie Mac to make its calculations. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US MORTGAGE APPLICATION VOLUME PLUNGES</span><br />
The volume of mortgage applications filed in the U.S. last week slumps a seasonally adjusted 19% from the previous week, the Mortgage Bankers Association also reported on an ongoing plunge in refinance activity as mortgage rates held near six-month highs.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CONGRESS KEEPS GOVERNMENT FUNDED THROUGH MARCH 4TH</span><br />
Congress completes work on a $250 billion package to keep the federal government running through March 4, 2011.</div><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">TUESDAY:</span></b><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. Government's Bottom Line Worsens</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;"> To <span style="font-family: Times,"Times New Roman",serif;">$13.5 Trillion Dollar Deficit</span></span><span style="font-size: x-large;"> In FY2010</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Report shows that the US Government now has a net financial position running $13.5 Trillion Dollar Deficit in FY2010. The country's deficit--not including long-term obligations to fund Social Security and Medicare--rose by $2 trillion. <br />
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The government's fiscal 2010 deficit stood at $13.5 trillion, up from $11.5 trillion in fiscal 2009 and $10.2 trillion in fiscal 2008, the U.S. Treasury said in an annual financial report released Tuesday. <br />
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A rise in government borrowing and in spending for federal employee and veterans' benefits drove the increase, which more than offset revenue gains. <br />
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The report highlights the tough financial position the U.S. government is in as it weighs options toward a sustainable fiscal future without derailing the fragile recovery that has taken hold in the aftermath of the deepest recession since the Great Depression. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">At the end of fiscal 2010, the U.S. held $2.9 trillion in assets and $16.4 trillion in liabilities. <br />
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Unlike the government's budget reports, its financial reports compare revenue and costs. Budget reports compare receipts and outlays. The government's fiscal 2010 budget deficit came in at $1.3 trillion, slipping from $1.4 trillion in fiscal year 2009.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US Census Reports U.S.Population hits 308.7 Million</span></div><span style="font-family: Arial,Helvetica,sans-serif;">The US population has risen by almost 10% in the last 10 years to stand at 308.7 million, according to new data from the US Census Bureau. But the population figure marked the slowest growth in a decade since the Great Depression of the 1930s.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> The south and west of the country continued their population expansion.This year's US census is expected to confirm that Hispanics are now the largest minority in the country, thanks to rapid growth since the last census 10 years ago.</span><br />
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</span><span style="font-family: Arial,Helvetica,sans-serif;">Roughly 60% of the increase was from individuals born inside the US, while 40% was the result of those immigrating to the country, Mr Groves said.</span><span style="font-family: Arial,Helvetica,sans-serif;">.<br />
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Hispanics, or Latinos, are responsible for about half of US population growth since 2000. In 2009, one in seven Americans was living in poverty, with the level of working-age poor the highest since the 1960s, the US Census Bureau says. The number of people in poverty increased by nearly four million to 43.6 million between 2008 and 2009, officials said.<br />
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The individual states' populations will be used to reapportion the number of representatives each state sends to the US Congress for the next 10 years. The total population of the US grew to 308,745,538 in 2010, up from 281.4m a decade ago, Census director Robert Groves said at a news briefing announcing the 2010 results.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"In every Census since 1790, we have counted all persons who live in the country - we count residents, whether they are citizens or not," Mr Groves said.<br />
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The state with the largest population growth was Nevada at roughly 35%, while Michigan was the only state to see a decline. Mr Groves said the slow growth during the Great Depression and the slow growth of the past decade could be attributed to each decade's economic dips.<br />
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It was "an assertion on the part of historians" that growth slowed in the 1930s because of the Great Depression, Groves said.<br />
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And "the case is pretty attractive to make that the depression hurt the growth rate", he added, referring to the most recent recession. But Mr Groves pointed out that understanding the effect of the economy on population was a complex task and researchers might never be sure how heavily economic problems weighed on growth.<br />
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The US is still growing quickly in comparison to other developed nations, like France and England - whose populations increased by about 5% over the last decade.<br />
Congressional changes. The growth in population throughout the US fell largely on Republican-leaning states in the South, which will allow these regions to add seats in the House of Representatives in the next election.<br />
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The US Constitution mandates that each of the 435 House districts properly represents roughly the same number of people within each region, and the battle over redrawing of congressional districts is usually partisan and protracted.<br />
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The figures could also play a role in the 2012 White House race as the number of seats each state has in the House determines their representation in the Electoral College, which is used to elect each president. Eight states, mostly in the Southern and Western US, will add Congressional seats during the next election, while many states in the Northeast and Midwest will suffer loses in 2012.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">FED EXTENDS SWAP LINES WITH FOREIGN BANKS</span> </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"></div><span style="font-family: Arial,Helvetica,sans-serif;">Tuesday, Federal Reserve authorizes an extension of dollar swap lines with major foreign central banks, reviving a rescue program set up to ease strains from the European debt crisis.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The U.S. Federal Reserve extends until Aug. 1, 2011, temporary U.S. dollar loans to the European Central Bank, as well as the central banks of Canada, England, Japan and Switzerland, amid concerns the debt crisis could intensify again. </span><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">MONDAY:</span></b><br />
<span style="font-size: x-large;">MAJOR STATE BOND NEWS </span><br />
<i><b>S&P REVISIONS COULD LOWER SOME MUNI RATINGS</b></i><br />
<i><b>This should be a major red flag to investors of State and local bonds. Another Red Flag is that there is only one </b><b><span id="search" style="visibility: visible;">underwriting</span></b></i><i><b> guarantor of bonds remaining in the U.S. </b></i><br />
<span style="font-family: Arial,Helvetica,sans-serif;">S&P seeks comment on proposed revisions to rating a form of municipal note that allows state and local borrowers to temporarily raise short-term funds backed by a promise to repay with a future bond issue.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FANNIE MAE BOOSTS 2011 </span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">ECONOMIC OUTLOOK</span> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Fannie Mae forecasts boosted economic growth of 3.4% for the year, up from its previous outlook of 2.9% growth, on improving consumer spending and confidence, increasing demand for goods, noting downside risk still lingers. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">RETAIL SALES FOR THE HOLIDAY'S </span></span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Retailers are pulling out all the stops as they count down the days to Christmas, with overtures ranging from keeping doors open around the clock to offering better deals than on their so-called "Black Friday" deals with "official adjusted unemployment" levels at major recession levels and major weather storms keeping holiday shoppers from going to the malls. </span><span style="font-family: Arial,Helvetica,sans-serif;">The last 10 days before Christmas account for 34% of overall holiday sales, says ShopperTrak.</span> <br />
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<span style="font-size: x-large;">CHICAGO FED NATIONAL </span><br />
<span style="font-size: x-large;">ACTIVITY INDEX SLIPS</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Chicago Federal Reserve's National Activity Index falls to -0.46 in November from a revised -0.25 in October, pointing to a sixth straight month of below-trend growth in the U.S. economy.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. EQUITY NEWS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY:</b> DryShips Inc. (DRYS) said it was entering into the tanker industry with a $770 million purchase of 12 vessels from a South Korean shipyard and planned to set the new segment up for a spinoff or initial public offering. Shares were down a penny at $5.96 in after-hours trading.<br />
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Fabric and craft supplies retailer Jo-Ann Stores has agreed to be acquired by private equity firm Leonard Green & Partners LP for $1.6 billion, or $61 per share. Micron (MU 8.28) reported first quarter earnings of $0.15 per share, $0.13. Rovi Corp. is buying Sonic Solutions in a cash-and-stock deal valued at approximately $720 million in order to enhance its digital entertainment offerings. Bed Bath & Beyond climbed 6% in premarket trading. The housewares retailer posted a 25% increase in fiscal third-quarter earnings, beating its guidance and raising its expectations for the remainder of the year. The company's board also approved a new $2 billion share repurchase program, representing roughly 16% of its market value. <br />
Micron Technology slipped 2.5% premarket. The memory-chip maker's fiscal first-quarter profit declined 24% on lower margins as softening personal-computer demand weighed and sales growth missed Wall Street's expectations. <br />
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WEDNESDAY: Shares of Office Depot Inc. (ODP) surged as much as 10% Wednesday as investors interpreted the office-supplies retailer's new change-of-control agreement could be in the offing. Shares were recently up 7.8% at $5.22 after earlier hitting a high of $5.34. General Electric climbed 0.8%, McDonald's added 0.6% and Alcoa rose 0.5%. Limiting the advance, Intel fell. 1.1%. Hewlett-Packard declined 0.8% . Walgreen jumped 7.6% after the drugstore operator posted a 19% increase in fiscal first-quarter earnings, with Chief Executive Greg Wasson citing cost controls and a slowing of new-store openings. The company posted higher prescription sales and said the front of the store saw "significant increases" due to improved merchandising. Nike shed 4.7%. Emerging middle-class consumers in countries from China to Brazil helped propel a 22% increase in the company's fiscal second-quarter earnings. <br />
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TUESDAY: In equity news, shares of Martek Biosciences soared 35% after the company has agreed to a $31.50 a share bid, or $1.09 billion, from Dutch-based life sciences and materials-science group Royal DSM. CONAGRA profit declined16%. the maker of Healthy Choice meals and Egg Beaters posts fiscal 2Q profit of $200.9 million, or 46c a share, hurt by rising commodities costs and tepid consumer responses to promotions in its consumer segment. Sales rise 2% to $3.16 billion. Google Inc. (GOOG) is in talks with much smaller rivals of the online coupon site Groupon, after the Internet search company's $6 billion buyout offer was spurned by Groupon earlier this month. Adobe Systems Inc. (ADBE) reported a fourth-quarter profit of $268.9 million, or 53 cents per share. Jabil Circuit Inc. (JBL) said that it earned a first-quarter profit of $106.7 million, or 49 cents per share, on revenue of $4.1 billion. On the earnings front, CarMax Inc. (KMX), ConAgra Foods Inc. (CAG), Hovnanian Enterprises Inc. (HOV), Nike Inc. (NKE), Red Hat Inc. (RHT), Tibco Software Inc. (TIBX), and Cintas Corp. (CTAS) are slated to release their quarterly reports. <br />
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<b>MONDAY:</b> Defense contractor Raytheon fell 0.5% after agreeing to pay about $490 million to buy intelligence and reconnaissance products company Applied Signal Technology, whose shares jumped 8%. Raytheon will pay $38 a share, an 8.5% premium to Applied Signal's Friday's closing price of $35.02. American Express declined 13 points 6% after analyst Stifel Nicolaus said the company is "more exposed" following last week's Federal Reserve proposals on debit-card interchange fees. .Jefferies fiscal 4Q preliminary profit falls 24% to $70.7 million, or 35c a share. Wells Fargo Securities hired six senior investment bankers, shares rose to $30.20. Wells Fargo & Co. (WFC) agreed to make an estimated $2.4 billion in mortgage modifications for California homeowners with "pick-a-payment" type adjustable-rate loans, as part of an agreement with the state's attorney general. The company said it is also paying $33 million to the state for customer outreach and to prevent or reduce the effects of foreclosures in California communities. Boeing share declined 3.1% in morning trading. Over the weekend the chief executive of Qatar Airways said the company could cancel orders for Boeing's 787 Dreamliner if there are further delays to its delivery. Boeing on Monday said it plans to boost production of a separate aircraft, the 777 airplane, starting in 2013.<br />
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AT&T shed 0.3% after the company said it will pay $1.93 billion for a swath of spectrum licenses from Qualcomm as AT&T looks to bolster its 4G service while Qualcomm said it plans to shut down its mobile broadcast video service. Shares of Qualcomm added 0.1%, while Verizon Communications rose 0.2%. <br />
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Medtronic rose 2.1% after the medical-device maker said William A. Hawkins, its chairman and chief executive, will retire in April, the end of the company's current fiscal year. <br />
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Sara Lee gained 1.5% after the company's talks on selling itself to Brazil's JBS have hit a snag over price. Adobe Systems rose 0.9% ahead of its fiscal fourth-quarter results after the close.<br />
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Brown-Forman, the maker of Jack Daniel's whiskey, is putting its wine business up for sale, according to people familiar with the matter. <br />
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Financials were a bright spot in Monday's trading. Bank of America was the Dow's top performer, rising 1%, while J.P. Morgan Chase gained 0.9%. In light of last week's takeover news, banks are "very well-positioned," McMahon said. "We're anticipating them starting to pay dividends or buybacks." </div><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Market:</span><br />
<i><span style="color: #990000; font-family: Arial,Helvetica,sans-serif;">The Toronto Stock Exchange and the TSX Venture Markets will close at 1:00 p.m. on Friday, December 24, 2010 for the Christmas holiday.</span></i><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="color: #990000; font-size: x-large;"><span style="color: black;">TORONTO STOCKS EDGE UP FRIDAY</span></span></div><br />
<span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;">Toronto stocks edged up in low volume trading, during a shortened session Friday. By noon Friday the TSX index was up 20.75 points to 13,391.95. Energy equities led the index higher. The S&P/TSX opened at 13,371.03, down 0.17 of a point. The Canadian dollar opened on Friday at 99.43 cents US, up 0.31 of a cent. </span></span><span style="font-family: Arial,Helvetica,sans-serif;">By 10:00 a.m. EST the loonie was up 0.24 of a cent to 99.36 cents US.</span> <span style="font-family: Arial,Helvetica,sans-serif;">Gold was quoted at C$1,392 bid (US$1,384) and C$1,393 asked (US$1,385) in mid-morning trading Friday at Travelex Canada Ltd., a major gold and foreign exchange dealer.</span><span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;"> </span></span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">The Toronto stock market was mostly flat Friday on very low volume with New York stock and commodity markets closed as American traders get an early start on the Christmas holiday. </div><div style="font-family: Arial,Helvetica,sans-serif;">The S&P/TSX composite index inched up 0.48 of a point to 13,371.68 points to while the TSX Venture Exchange rose 2.8 points to 2,178.16.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The Canadian dollar moved higher against the greenback, up 0.08 of a cent to 99.2 cents US.</div><div style="font-family: Arial,Helvetica,sans-serif;">Consumer discretionary stocks led advancers with Quebecor Inc. (TSX:QBR.B) ahead 48 cents to $38.05.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Energy stocks were also positive with Canadian Natural Resources (TSX:CNQ) up 14 cents to $44.74.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Metal stocks were weak with Lundin Mining (TSX:LUN) down five cents to $7.05.</div><div style="font-family: Arial,Helvetica,sans-serif;">The TSX is headed for a positive end to the second last trading week of the year, up about 170 points or 1.28 per cent. The exchange's main index is set to close out 2010 trading up more than 13 per cent, led by strong gains in mining stocks amid growing demand from China and other emerging markets.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">The resource-heavy TSX has been supported by energy stocks as oil traded at levels not seen since the fall of 2008</span><span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;"> </span></span><br />
<span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><span style="color: black;"> </span></span><i><span style="color: #990000; font-family: Arial,Helvetica,sans-serif;"><br />
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<div style="color: black;"><span style="font-family: Arial,Helvetica,sans-serif; font-size: large;">In equity news Friday:</span></div><div style="color: black;"><br />
</div><div style="color: black; font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Western Financial Shares Move </span></div><div style="color: black; font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Higher on Takeover News</span></div><div style="color: black;"><br />
</div><div style="color: black;"><span style="font-family: Arial,Helvetica,sans-serif;">Shares in Western Financial Group (TSX:WES), </span><span style="font-family: Arial,Helvetica,sans-serif;"> the largest insurance and financial services retailer in Western Canada, </span><span style="font-family: Arial,Helvetica,sans-serif;">rose more than 66 per cent in early Friday trading, a day after a friendly takeover bid by Quebec-based Desjardins Financial Group.<br />
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The financial group announced Thursday it was making an all-cash offer of $443 million or $4.15 per share for Western, in a bid to increase its influence outside of Quebec. Quebec-based Desjardin Financial Group is trying to buy Western Financial Group (TSX:WES) in a bid to increase its influence in Western Canada. Western Financial shares surged $1.65 to $4.10.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> <br />
Western's board of directors is recommending that shareholders accept the offer. Shares of Western rose $1.63 to $4.08 in heavy trading by 11:15 a.m. EST, 2,983,304 shares had been traded up 1.64%. Western Financial Group Inc. (WES.T, C$2.45, C$0.01, 0.4%) has agreed to be acquired by Quebec-based Desjardins Financial Group in a cash transaction worth C$443 million or C$4.15 a share.</span><br />
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</div><span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Maple Leaf Foods Inc. (MFI.T, C$11.37, -C$0.07, -0.6%) said that, at its annual meeting on April 28, shareholders will be asked to vote on five non-binding resolutions put forward by hedge fund West Face Capital, which owns about 11.4% of Maple Leaf's shares.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canada Bond yields and prime rates for Friday, Dec. 24, 2010</span><br />
<i>Canada Bond yields (previous day in brackets):</i><br />
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Two-year: 1.69% (1.69)<br />
Five-year: 2.45% (2.46)<br />
10-year: 3.17% (3.18)<br />
30-year: 3.56% (3.57)<br />
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<b>Interest rates:</b><br />
Prime rate: 3.00%<br />
Overnight lending rate: 1.00%</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">THURSDAY:</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canada's International Reserves</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Up $401M In December 2010</span> <br />
<span style="font-family: Arial,Helvetica,sans-serif;">Canada's official international reserves rose $401 million in the week ended Dec. 23, the Bank of Canada reported. The official international reserves totaled $56.638 billion, up from $56.237 billion at Dec. 15. </span><br />
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<i><span style="font-family: Arial,Helvetica,sans-serif;">The Dec. 23 reserves included: </span></i><br />
<span style="font-family: Arial,Helvetica,sans-serif;">U.S. dollars, $26.632 billion; other foreign currencies, $17.829 billion; gold, $150 million; special drawing rights, $8.992 billion; reserve position in the International Monetary Fund, $3.035 billion. All reserve figures are reported in U.S. funds.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TORONTO EDGES LOWER THURSDAY</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">Toronto stocks ended mixed Thursday, as modest gains in the energy and materials sectors were offset by equally modest losses in just about every other sub-group on a light trading day ahead of the holiday season.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The S&P/TSX Composite Index fell 9.50 points, or 0.07%, to 13371.20. However, advances led declines 909 to 737. Trading volume was 346.50 million shares, down from Wednesday's total of 432.50 million shares. The S&P/TSX 60 Index closed down less than a point to end at 763.87.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><span style="font-family: Arial,Helvetica,sans-serif;">The biggest story of the day came out of Ventana Gold, which advised shareholders to reject an unsolicited C$12.63-a-share bid from Brazil's EBX Group. Ventana said the bid was inadequate and that it has signed "a number" of confidentiality agreements with potentially interested bidders as it "aggressively" pursues alternatives to the EBX Group bid. Ventana closed up 23 Canadian cents to C$13.28. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Toronto indexes were modestly lower most of the day Thursday's upward movement was led by materials. The S&P/TSX Composite index was at 13,392.76, higher by 12. points. Earlier today the Canadian October Gross Domestic Product rose 0.2%, but was slower than analysts had expected .</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">AECO drop unchanged at C$3.55/GJ</span><br />
<i><b>Canadian spot gas flat despite big storage draws</b></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Canadian spot natural gas prices were little changed on Thursday as hefty storage withdrawal numbers were offset by ample short-term supplies and moderate weather.<br />
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Canadian inventories fell last week by 6.8 percent to 538.8 bcf, Canadian Enerdata said. Facilities across the country were 77.3 percent full on average, versus 81.7 percent 12 months earlier.<br />
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Spot gas at the AECO storage hub in southeastern Alberta averaged C$3.55 a gigajoule, unchanged from Wednesday. Deals were done between C$3.51 and C$3.58 a GJ. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TORONTO HIGHER WEDNESDAY</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Toronto stocks ended modestly higher Wednesday, as gains in the energy sector offset losses in the materials group. <br />
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An increase in the price of oil, which closed above US$90 a barrel for the first time in more than two years, helped lift energy stocks. Crude closed up 66 U.S. cents to end at US$90.48 a barrel in New York. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">In corporate news, Sunoco Inc. (SUN) said Wednesday it will buy 25 retail gas stations in New York state from Leigh Gas Corporation for an undisclosed amount, furthering the company's reach into northeastern U.S. markets. <br />
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Sunoco, which earlier this month sold its Toledo refinery to PBF Holdings Co. LLC, has pledged to increase its retail business while it shrinks its refining footprint. Falling U.S. gasoline demand has left refiners looking for ways to cut back on production capacity and make money in other ways. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The energy group ended up 1.07%, with Suncor rising 0.82 to 38.34 and Canadian Natural Resources climbing 0.52 to 44.38. <br />
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The financial services group rose 0.53%, with Royal Bank of Canada ending up 0.21 to 52.03, Canadian Imperial Bank of Commerce climbing 0.50 to 79.65 and Toronto-Dominion Bank gaining 0.54 to 73.70. The telecom group gained 0.66%, with BCE rising 0.79 to 35.96 and Telus ending up 0.19 to 46.75. <br />
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The materials group fell 1.19%, with Barrick Gold giving up 0.65 to 51.97 and Agnico-Eagle Mines ending down 1.52 to 76.35. The industrials group shed 0.25%, with Canadian National Railway dropping 0.62 to 67.26. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Dalsa surged C$3.69 to C$18.19 after the company said it agreed to be acquired by Teledyne Technologies for C$18.25 a share. The cash offer is worth about C$341 million. <br />
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Wi-LAN jumped 0.50 to 4.83 after announcing it settled its patent-infringement dispute with LG Electronics. Terms of the deal weren't disclosed. The announcement could be the first of a number of settlements as Wi-LAN's patent-infringement disputes with several U.S. technology bellwethers, including Apple, Intel, Dell and Hewlett-Packard, nears trial. <br />
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The S&P/TSX Composite Index rose 15.55 points, or 0.12%, to 13380.70 Advances led declines 874 to 745. Trading volume was 432.50 million shares, up from Tuesday's total of 408.10 million shares. The S&P/TSX 60 Index closed up 1.99, or 0.26%, to 764.66 points. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The TSX Venture Exchange stood at 2,163.33, up 7.50 points at noon on Wednesday. Toronto energy equities drove led the index higher Wednesday driving the S&P/TSX Composite to 13389.98 up 24.83 points.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TORONTO STOCKS HIGHER TUESDAY</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">The Toronto stock market closed sharply higher Tuesday as another major acquisition in the Canadian financial sector raised hopes for a strong economic rebound and more such dealmaking. The S&P/TSX composite index jumped 171.87 points to 13,365.15, while the TSX Venture Exchange was up 8.68 points at 2,155.83.<br />
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Toronto indexes were up Tuesday led by materials, financials, and energy. The Canadian dollar ended slightly lower Tuesday as soft inflation data and a stronger-than-expected retail sales report tended to offset each other in light trading flows. The U.S. dollar was at C$1.0183 at 3:04 p.m. EST (2004 GMT) Tuesday, from C$1.0192 at 8:00 a.m. EST (1300 GMT) <br />
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By 2:00 p.m. EST the <span style="font-family: Arial,Helvetica,sans-serif;">S&P/TSX Composite was 13324.09, up 130.81 points or 1.0%</span> from Monday. TSX Venture Exchange stood at 2,146.88, down 0.27 of a point at noon on Tuesday. <br />
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Loonie falters amid low inflation. The Canadian dollar lost ground Tuesday as the greenback gained against other currencies.The loonie was down 0.15 of a cent at 98.24 cents US. The Canadian dollar opened on Tuesday at 98.04 cents US, down 0.35 of a cent. <br />
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The dollar also declined amid data showing that inflation remains very tame in Canada. Statistics Canada reported that Canada’s annual inflation rate rose to an annualized rate of two per cent in November, down from 2.4 per cent in October. Analysts said the lower inflation figure indicates the Bank of Canada will be in no hurry to raise interest rates before mid-2011.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Retail Sales Rose</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">For Fifth Straight Month</span><br />
Statistics Canada says this fifth-straight monthly increase was pushed by a 7.4-per-cent increase in gas station sales. Higher gasoline prices drove overall retail sales up 0.8 per cent to $36.6 billion in October. <br />
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Sales rose in seven of the 11 areas monitored, but with gas stations excluded, overall sales actually slipped 0.1 per cent. Business was up at furniture and home furnishing stores, which recorded a 2.2-per-cent increase.Sales of motor vehicles and parts rose 0.3 per cent, a fifth consecutive monthly increase. New car sales were flat.<br />
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Miscellaneous store retailers, including office supply and stationery stores, reported a 1.4-per-cent increase in business.Jewellery, luggage and leather goods stores reported a 2.0-per-cent sales increase. Sales at general merchandise stores, which include department stores, slipped 1.2 per cent. Sales were also off at food and beverage stores, supermarkets and among clothing and clothing accessory retailers.<br />
</div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TD BANK TO PAY $6.3B FOR CHRYSLER FINANCIAL</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Toronto-Dominion Bank, Canada's second-largest bank in assets, confirms it will buy Chrysler Financial Corp., the auto lender owned by Cerberus Capital Management, for about $6.3 billion to expand its reach in the U.S. market.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">IVANHOE ENERGY- MAJOR CHINA GAS FIND</span><br />
Calgary-based oil and gas company's China-focused unit makes a 'significant' natural gas discovery at its Yixin-2 well in southwest China, triggering a 24% jump in Ivanhoe's shares in pre-market trading. </span><br />
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<br />
<span style="font-size: x-large;">Tuesday's Market Note</span><br />
<i><b>On Tuesday, two key domestic data points will be released. </b></i><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">Consumer price data for November will be released at 7:00 a.m. EST (1200 GMT). Economists expect that core inflation was at 1.6% on an annualized basis in November, dropping from 1.8% in the previous month. They expect all-items inflation to come in at 2.2% from 2.4% in October. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Retail sales data for October will be reported at 8:30 a.m. EST (1330 GMT). Economists expect that retail sales grew by 0.5% in October after a 0.6% climb in September. </div><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Shares Mixed to Lower Monday</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Toronto stocks closed flat Monday, as gains in commodities sectors were offset by modest declines across all other sectors on the S&P/TSX Composite Index which finished down 8 points. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The biggest corporate news stories Monday came out of Talisman Energy and CAE, a maker of full-flight simulators. Talisman agreed to sell a 50% stake in its Farrell Creek shale assets to Sasol for C$1.05 billion, while CAE agreed to buy CHC Helicopter's flight training operations for an undisclosed amount. CAE closed up 17 Canadian cents to C$11.41, while Talisman rose 1.00 to 21.89. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The TSX's key equity index fell 8.18 points, or 0.06%, to 13193.28. Advances led declines 982 to 656. Trading volume was 425.30 million shares, down from Friday's total of 741.3 million shares. The S&P/TSX 60 Index closed down 2.19, or 0.29%, to 752.03 points.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Canadian bonds ended mostly higher Monday with modest gains in most maturities in subdued and somewhat directionless trading in advance of the Christmas holiday season. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Canada's two-year bond yield was at 1.613% late Monday, from 1.605% late Friday. The 10-year bond yield was at 3.167%, from 3.170%. Bond yields and prices move in opposite directions. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The stock market was trading slightly higher at midday Monday lead by materials and energy sectors on thin volume, as many investors begin booking off for the holiday season. <br />
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The main news maker of the day was Talisman Energy, which announced an agreement to sell a 50% stake in its Farrell Creeek shale assets to Sasol for C$1.05 billion. Talisman was up 77 Canadian cents to C$21.66. <br />
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At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was up 21.12 points, or 0.16%, at 13222.58. Advances led declines 806 to 625. Trading volume was 195.60 million shares. The S&P/TSX 60 Index was down less than a point at 754.17 points. Toronto stocks closed higher Friday, for the first time in four days.</span><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">Toronto Indexes, Friday; Noon EST Composite Up 20.75</span></b><span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> S&P/TSX Composite 13391.95 up 20.75 or 0.2%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> S&P/TSX 60 Index 765.05 up 1.18 or 0.2%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Financials 183.88 up 0.45 or 0.2%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Materials 434.99 off 0.14 or 0.0%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Energy 324.69 up 1.01 or 0.3%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Industrials 110.20 up 0.12 or 0.1%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> IT 31.24 up 0.17 or 0.5%</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> Volume Friday Thursday</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> 11-12 20.6M 48.9M</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> 9:30-12 75.7M 173.2M</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">South American Markets:</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">BRAZIL:</span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks End Higher Thursday</span><br />
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Brazilian stocks closed marginally higher Thursday after wading in negative territory for most of the day. Banking shares gained on announcement of Brazil's strong credit performance, and oil giant Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, rose on higher oil prices. <br />
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The Ibovespa stocks index ended at 68485 points, just 0.02% higher than Wednesday's close of 68471 points. Volumes were thin on the last day of trading before the Christmas holiday break. <br />
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Brazil's stocks shrugged off some of the uncertainties that had dogged global markets for much of the day on disappointing U.S. economic indicators and negative signals from Europe. <br />
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Brazilian domestic news was brighter. The Central Bank announced strong bank lending figures, reflecting vigorous economic growth. Total loans rose for the 12th straight month to 1.68 trillion reais ($988 billion) in November, up nearly 21% from a year earlier, the bank said. Credit now equals 46.3% of gross domestic product, up from 45.9% in October, it said. <br />
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Despite the inflationary risk from high credit levels that led the central bank earlier this month to rein in credit by raising bank reserve requirements, bank shares surged on the new figures. <br />
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Banco do Brasil (BDORY, BBAS3.BR) rose 1.24% to 31.04 Brazilian reais ($18.37) while Banco Santander (BSBR, SANB4.BR) gained 1.11% to BRL21.98. <br />
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Petrobras gained 0.18% to BRL28.54 after oil futures prices continued a rising streak on international markets, reaching $91.63, a barrel for February contracts, their highest since February 2008. <br />
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Brazilian airlines Gol Linhas Aereas Inteligentes SA (GOL, GOLL4.BR) was the Bovespa exchange's second-biggest gainer after a planned airline workers' strike which had threatened to paralyze Brazilian air transport over the holiday weekend was averted early Thursday by a court ruling. <br />
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Gol gained 2.41% to BRL25.10, reversing Wednesday's losses. Rival TAM SA (TAM, TAMM4.BR), which had risen strongly earlier in the day, ended up slipping back 0.05% to BRL40.46 as it became apparent that the threatened strike may simply be postponed until January. <br />
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Miner Vale SA (VALE, VALE5.BR) closed down 0.40% at BRL50.05 after metals prices slipped back on international markets in thin trading in the run-up to the Christmas holiday break.<br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Consumer Confidence Index Drops 2.1%</span> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">Brazil's main consumer confidence index decreased in December, ending a nine-month stretch of increases, but remains at a high level which suggests demand is likely to remain strong. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Consumer Confidence Index, or ICC, dropped 2.1% to 125.1 points in December. The index runs from 1 to 200 points, with 100 considered neutral, the Getulio Vargas Foundation, or FGV, said Wednesday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Despite the fall, the figure remains well above the historical average of 107 points. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The survey shows that consumer confidence "stabilized at high levels, declining a bit in December after reaching successive record-highs month after month," said Goldman Sachs in a research report for its clients. </span><span style="font-family: Arial,Helvetica,sans-serif;"> Private consumption should "sustain a strong expansion in coming quarters," so the government should move to raise interest rates, rein in spending and slow borrowing, the bank said. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Earlier Wednesday, the central bank said it may need to raise the benchmark Selic interest rate in the short term to stave off growing pressures on inflation. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Brazil's economy has proved resilient in the face of the global economic crisis, and the country's gross domestic product is expected to expand more than 7% this year and more than 4% next year. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">Earlier Wednesday, the central bank raised its forecast for the IPCA consumer price index to 5.9% in its latest quarterly inflation report from 5.0% in September. For 2011, the figure was increased to 5% from 4.6%. </span><span style="font-family: Arial,Helvetica,sans-serif;"> With the rise in inflation forecasts, economist now see the Selic rate, currently at 10.75%, reaching 12.25% by the end of 2011. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The ICC index is based on interviews with 2,000 families in Brazil's seven largest cities. The ICC measures the willingness of families to make purchases of various types of consumer goods and gauges expectations about employment, income and economic opportunities.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazilian Banks Cut Credit </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Expansion View For 2011</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">Brazilian banks revised downward their estimates for the expansion of credit portfolios next year after the government adopted measures to restrict credits. </span><span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">The downward revision came after the government adopted measures to restrict credit in order to control inflation pressures.</span> <br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Brazilian banks are expecting an expansion of credit portfolios by 17.8% in 2011, according to a survey by the national banks federation, known as Febraban, with more than 30 financial institutions. </span><span style="font-family: Arial,Helvetica,sans-serif;">The decisions will remove some 61 billion Brazilian reais ($35.88 billion) from the financial system while discouraging long-term installment buying by consumers. </span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">In the previous survey, published in November, local banks were expecting a credit portfolio expansion by 18.5% next year. By comparison, for this year credit expansion is expected to reach 20.3%, according to the survey. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">Earlier this month, the central bank announced it was raising reserve requirements on term deposits to 20% from 15% and on cash deposits to 12% from 8%. The bank also raised capital requirements on long-term loans to individual consumers to 150% from 100%. </span><span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Economists expect inflation to end the year above target, at 5.88%, although that's within the two-percentage-point band on either side of the target that the government allows. </span><span style="font-family: Arial,Helvetica,sans-serif;">Local banks maintained their view for the nonperforming loan rate, expected to reach 4.6% next year compared with 4.7% this year.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazil's Currency Moves Up</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Brazil's currency appreciated after economists raised their 2010 and 2011 year-end average inflation forecasts, according to the Central Bank of Brazil's market survey published Monday.</span> <span style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Brazilian real closed stronger on Monday as economists boosted inflation expectations, heightening speculation the central bank will raise one of the world's highest interest rates even higher. </span><span style="font-family: Arial,Helvetica,sans-serif;">The real closed at BRL1.7065 to the dollar, stronger than Friday's close of BRL1.7112. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The weekly survey placed the 2010 year-end forecast for the IPCA inflation rate at 5.88%, up from 5.85% a week earlier. Tombini's nomination to head the central bank starting next year was approved by Brazil's Senate last week. President-elect Dilma Rousseff, who nominated Tombini, has pushed for lower rates, prices of food, rent and basic services are rising faster than forecast. Many Brazilian economists expect the country to boost its 10.75% interest rate in the beginning of next year.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">MEXICO</span><br />
<span style="color: #990000; font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-size: small;"><i><b>T</b></i><i><b>he Mexican market closes early, at 1 p.m. EST. </b></i></span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Mexico's Stocks Flat In Early Trading Friday</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-size: small;">.Mexican stocks opened flat in thin Christmas Eve trading on Friday, with few players in the game as U.S. markets were closed for the holiday. <br />
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The IPC index of the 35 most-traded stocks was lower by 41 points, or 0.1% at about 10:30 a.m. EST. Volume was 1 million shares worth 140.6 million pesos ($11.4 million). <br />
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The Vector brokerage said in a research note that given the closure of markets in some European nations as well, and no economic news expected, the session is likely to be "apathetic and with little volume." <br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-size: small;">Santander Mexico signs deal to buy GE's consumer mortgage business in Mexico<br />
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Among stocks trading early in the session, Mexico's largest retailer Wal-Mart de Mexico (WMMVY, WALMEX.MX) V shares were off 0.7% to MXN35.31 and brewer Grupo Modelo (GMODELO.MX) C shares were down 0.7% to MXN73.22. <br />
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Latin America's biggest wireless provider America Movil (AMX, AMX.MX) L shares slipped 0.2% to MXN34.96, and chemical maker Mexichem (MEXCHEM.MX) shares were ahead 0.2% to MXN43.20. <br />
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The IPC set a record high earlier in the week. The peso was slightly stronger against the dollar, quoted in Mexico City at MXN12.3310, according to Infosel, compared with MXN12.3450 at the close Thursday.</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico Microfinance Bank Compartamos Completes Share Exchange</span><br />
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Mexican microfinance bank Banco Compartamos said Friday it has completed an exchange offer to switch its shares into holding company Compartamos (COMPARC.MX). <br />
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Compartamos said the total capital stock acquired by the holding company reached 97.24%, which was above the 95% it needed to delist the bank--Banco Compartamos--from the Mexican Stock Exchange. The new Compartamos shares were rising 0.9% to 26.48 pesos ($2.15) around 11:45 a.m. EST. <br />
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When the bank announced its exchange offer in mid-November, it said the switchover would give it greater flexibility to expand into other markets, both in Mexico and abroad. The management of the bank will be essentially unchanged by the transaction, it said. <br />
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Compartamos is the largest of Mexico's microfinance banks, which make small loans to people and businesses with little access to traditional bank credit.<br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-size: small;">THURSDAY:</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico's Stocks Close Lower Thursday</span><br />
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Mexican stocks closed 0.1% lower Thursday in light pre-Christmas trading. The IPC index of the 35 most-traded issues ended 41 points lower at 38131. Volume was 81.6 million shares worth 2.6 billion pesos ($212 million). <br />
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The IPC traded lower during most of the session but mounted a short-lived comeback in the final minutes as investors took positions going into the long weekend in the U.S., where markets are closed Friday. Mexico's stock market will open for a half-day on Christmas Eve, closing at noon local time (1 p.m. EST). <br />
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Among IPC blue chips, cement and construction materials company Cemex (CX, CEMEX.MX) CPO shares lost 0.5% to MXN13.12. The stock has crept steadily upward since mid-October as the global giant gears up for a possible recovery in the U.S. construction sector. <br />
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Retailer Comercial Mexicana (COMERCI.MX) UBC shares fell 1.1% to MXN14.17. The stock had risen 3.1% in the previous session as the company's debt restructuring, which had already been approved in Mexico, received the green light from a U.S. court. <br />
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Mexico's biggest broadcaster Televisa (TLEVISA) CPO shares dropped 1.4% to MXN64.16. The company's stock price has been rising steadily since it announced a deal to take a 35% stake in U.S. Spanish-language broadcaster Univision in early October, and the issue reached a 12-month high at Wednesday's close. </span></span><span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"></span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Mexico's Stocks Open Lower</span></div><span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-size: small;">Mexican stocks fell in early trading Wednesday after their record close a day earlier, as revised U.S. economic growth data came in lower than expected. <br />
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The IPC index of the 35 most-traded stocks was down 0.2% to 38,151 points at about 10:25 a.m. EST on volume of 11.3 million shares worth 297.2 million pesos ($24.2 million). <br />
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Revised U.S. third-quarter gross domestic product expanded 2.6%, missing economists' expectation of 2.9%. Mexico sends 80% of its exports to the U.S., which has been driving recovery in Mexican industries like manufacturing. <br />
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Mexico's exports rose a solid 26% in November to $28.15 billion, the National Statistics Institute reported. <br />
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The IPC was also coming off a record close set on Tuesday, as a pre-Christmas rally pushed it to close above the 38,000-point barrier for the first time ever on general economic optimism. <br />
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Wireless provider America Movil (AMX, AMX.MX) L shares were losing 0.5% to MXN35.00. The cellular giant is the most heavily weighted stock in the IPC. Mexico's biggest retailer Wal-Mart de Mexico (WMMVY, WALMEX.MX) V shares fell 0.5% to MXN35.74. <br />
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Cement and materials giant Cemex (CX, CEMEX.MX) CPO shares were slipping 0.3% to MXN13.32 after closing higher by 4.6% on Tuesday. Bread maker Bimbo (BIMBO.MX) A shares were rising 0.7% to MXN106. <br />
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The Mexican peso was gaining ground against the U.S. dollar and was quoted by Infosel at MXN12.3510 versus Tuesday's close of MXN12.3755. </span></span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Mexico November Unemployment Slips To 5.3%</span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-size: small;">Mexico's unemployment rate fell in November from previous months as employers ramped up hiring on expectations of a seasonal pickup in economic activity, though the rate remained similar to a year ago. <br />
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The jobless rate slipped to 5.3% of the workforce last month from 5.7% in October and September, the National Statistics Institute, or Inegi, said Wednesday. November 2009 also registered an unemployment rate of 5.3%. <br />
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Underemployment, or the percentage of employed workers who needed work and were available to work more hours than they did, fell sharply to 7.1% last month from 8.5% in October and 8.7% in November 2009, Inegi said. <br />
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Joblessness in Mexico typically declines in the final two months of the year as holiday shoppers breathe life into the economy. <br />
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Mexico's economic recovery this year has brought mixed results for the job market. While the number of formal, private-sector workers registered with the Mexican Institute of Social Security, or IMSS, has reached historic highs, unemployment levels according to Inegi's monthly surveys remain well above the 3%-4% levels typical before last year's crisis. <br />
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Eclac, the United Nations agency that monitors Latin American economies, estimated this month that Mexico's average wages will fall 0.6% this year, in real terms, from 2009... </span></span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico's Stocks Rise Tuesday</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><i><b>Mexico's Stocks Close At Record High; IPC Index Up 0.7%</b></i> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Mexican stocks rallied to a new record high at Tuesday's close on U.S. market gains and general optimism going into the new year that a recovery could be in store for both nations' closely linked economies. <br />
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The IPC index of the 35 most-traded stocks rose 0.7% and closed above the 38,000-point barrier for the first time to settle at 38,231. Volume was a healthy 220.7 million shares worth $6.76 billion pesos ($546 million). <br />
Leading the IPC rally was cement and construction materials giant Cemex (CX, CEMEX.MX), whose CPO shares rose 4.6% to MXN13.37. The firm was one of the most likely to benefit from renewed U.S. economic growth after getting its financial house in order over the last year, said Sotomayor, who added that the stock price was nearing Actinver's target of MXN13.80. <br />
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Mexico's biggest retailer Wal-Mart de Mexico (WMMVY, WALMEX.MX) V shares rose 0.9% to MXN35.64, and top broadcaster Televisa (TV, TLEVISA.MX) CPO shares rose 1.8% to MXN64.74. Copper miner and railways operator Grupo Mexico (GMEXICO.MX) B shares rose 0.9% to MXN48.30 as copper prices hit a record on demand from China and reduced supply due to the closure of a Chilean copper mine. <br />
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The Mexican peso gained ground against the U.S. dollar to close at MXN12.3755, according to Infosel, versus Monday's close of MXN12.4010. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Mexican stocks rose in early trading Tuesday. </span><span style="font-family: Arial,Helvetica,sans-serif;">The IPC index of the 35 most-traded stocks was 0.5% higher at about 10:45 a.m. EST to 38,163 on volume of 22.5 million shares worth 544.5 million pesos ($44 million). </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico's Stocks Higher Monday</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Mexican stocks were flat in early trading Monday as the peso was losing ground against the U.S. dollar, quoted in Mexico City at MXN12.4255 versus Friday's close of MXN12.4125. The stock index remained near record levels going into Christmas week. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The IPC index of the 35 most-traded stocks was down 0.04% at 37,983 points around 10:50 a.m. EST. Volume was 24.2 million shares worth 665.4 million pesos ($53.5 million) </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">Bellwether America Movil (AMX) L shares were down 0.1% at MXN35.14. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Mexico's largest broadcaster Grupo Televisa (TV, TLEVISA.MX) CPO shares rose 1.3% to MXN63.47. The media conglomerate said Monday it had closed a deal reached earlier to take a 35% stake in U.S. Spanish-language broadcaster Univision in a $1.2 billion transaction. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Cement company Cemex (CX, CEMEX.MX) CPO shares rose 1% to MXN12.67, while copper miner and railways operator Grupo Mexico (GMEXICO.MX) B shares fell 0.3% to MXN47.87. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Chemical maker Mexichem (MEXCHEM.MX) shares increased 0.7% to MXN43.50. The company recently announced it had signed an agreement to acquire Massachusetts-based AlphaGary plastics group from Rockwood Holdings Inc. (ROC) as part of Mexichem's expansion plans.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico's October Retail Sales Up 4.4%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">Retail sales in Mexico picked up pace in October from the previous month as Mexicans increased their purchases of clothing, cars and other goods, the National Statistics Institute, or Inegi, said Monday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Inegi said retail sales rose 4.4% from October 2009, and were up 0.67% from September in seasonally adjusted terms. The increase from the year-ago month was bigger than September's 4.1% rise..</span><span style="font-family: Arial,Helvetica,sans-serif;"> Inegi said sales of garments, home appliances, food and beverages, and cars all rose from October 2009, while sales of health-care goods, stationery, and other goods for personal use were lower. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Domestic demand has been advancing more slowly than export-oriented industrial production as Mexico recovered this year from the 2008-2009 recession. Retail sales in the first 10 months were up 2.4% from the like period of 2009, well below the 5.8% growth rate for gross domestic product in the first three quarters of the year.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MEXICO PIPELINE EXPLOSION KILLS 28</span><br />
The chief executive of Mexico's state-owned oil company Petroleos Mexicanos said fuel thieves were the most likely cause of an early morning pipeline blast. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">ARGENTINA:</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">ARGENTINA STOCKS CLOSE HIGHER THURSDAY</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Argentina Stocks Hold At Record High; Bonds Up On Swap Offer</b></i><br />
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Argentine stocks closed virtually unchanged Thursday from the record set a day earlier, while bonds ended the week on a positive note in moderate buying after the government re-opened a debt swap for defaulted bonds. <br />
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The Merval index of leading shares ended the day at 3,476.42 points, up less than two-tenths of a point from Wednesday and bringing the gain for the week to just over 2% and for the year to almost 50%. Markets will be closed Friday ahead of the Christmas weekend. <br />
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One of the biggest gainers Thursday was electricity transmission company Transener (TRAN.BA), which surged 9.5% to 1.61 Argentine pesos ($0.40) amid speculation that the government may soon ease up on residential power rates, said Besfamille brokerage trader Diego Zavaleta. <br />
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Shares of Argentine oil and gas firm YPF SA (YPF, YPFD.BA), a unit of Spanish energy group Repsol YPF SA (REP, REP.MC), soared 11.1% to close at ARS205. <br />
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Earlier in the day, Repsol YPF said it will sell another 3.3% stake in YPF SA to private-equity firm Eton Park Capital Management for $500 million. <br />
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Repsol, which took over the Argentine company in 1999, will still hold a 79.84% stake in the group, with the Peterson Group owning 15.46% and 4.69% freely floating shares. Repsol said the move is part of its strategy to rebalance its global asset portfolio. YPF said Thursday that it has been awarded a $250 million loan from the Andean Development Corporation, or CAF, to partially fund its oil and gas production, refining and sales investment plans. <br />
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The sale and loan comes on the heels of a major gas find by YPF in Argentina. Earlier this month, YPF said it had found an estimated 4.5 trillion cubic feet of unconventional gas after drilling four exploratory wells at its Loma La Lata field in Neuquen Province. The discovery could eventually increase Argentina's proven gas reserves by about 34% from 13.3 trillion cubic feet, according to Energy Secretariat Data. <br />
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Bonds also edged higher on continued momentum after the government said Wednesday it will offer investors the opportunity to swap bonds dating back to the country's default in 2001 for Discount 2033 bonds, GDP Warrants, and Global 2017 bonds. About $6.1 billion of default bonds are eligible for the swap, which runs through the end of the year. <br />
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The peso-denominated 2033 discount bond added 0.8% in price terms to close at ARS192, to yield 6.96%. The dollar-denominated Global 2017, rose 1% in price terms to ARS415, with the yield at 8.14%. <br />
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The peso ended the week with a slight dip after holding steady through most of the week. The peso was quoted by Thomson Reuters as closing in interbank markets at ARS3.98 to the U.S. dollar, weakening from ARS3.9725 at on Wednesday.</div><br />
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<span style="font-size: x-large;">Argentina's Stocks Rise Monday</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Argentine stocks and bonds advanced Monday, with the market taking its cue from the gains in Europe and rising international oil prices. The peso closed unchanged at ARS3.975 to the dollar. </span><span style="font-family: Arial,Helvetica,sans-serif;">Argentina's benchmark Merval stock index rose 1.8% to close at 3465.31. Volume was moderate at ARS72 million ($18 million). </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Steel-tube manufacturer Tenaris (TS, TEN.MI), rose 2.5% to settle at ARS97.90. The company sells its pipes to the oil sector and its share price often tracks international crude-oil prices. Oil prices got a lift Monday as cold weather in Europe help to boost international prices to nearly $89 a barrel. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Investor demand also focused on banking group Grupo Financiero Galicia (GGAL, GGAL.BA), which rose 5% to close at ARS6.26. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Bonds performed well Monday, with the peso-denominated 2033 discount bond rising 0.8% in price terms to ARS185.50, to yield 7.3%. </span><span style="font-family: Arial,Helvetica,sans-serif;">The dollar-denominated Global 2017 added 0.9% in price terms to close at ARS379.25, with the yield at 8.8%. </span><br />
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<span style="font-size: x-large;">Argentina 3Q Account Surplus $900 Million</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Argentina posted a current account surplus of $900 million during the third quarter of 2010, coming in slightly lower than expectations, the national statistics institute, Indec, reported Monday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The current account surplus, which is the broadest measure of a country's transactions with the rest of the world, was down from $3.1 billion in the second quarter and $1.14 billion a year earlier.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">CHILE:</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">All markets in Chile will be open only half a day on Friday, Christmas Eve.</span></b></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">FRIDAY:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Close Higher Christmas Eve</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Chile's blue-chip Ipsa index ended higher Friday, fueled by retail holding giant Cencosud's (CENCOSUD.SN) rise as participants applauded its aggressive $1.0 billion expansion plan for 2011. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Ipsa rose 0.2% to 4895.59, ending its streak of four straight losses. Meanwhile, market volume skyrocketed to 1.033 trillion Chilean pesos ($2.20 billion), after the local Cueto family transferred its 28.1% controlling stake of flagship carrier LAN Airlines (LFL, LAN.SN) to a new holding company, in the single largest transaction to ever take place on the Santiago Stock Exchange. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Volume rose as Chilean President Sebastian Pinera auctioned off his 13.7% stake in soccer club Colo-Colo (COLO-COLO.SN), divesting himself of the last major asset he was expected to sell. After the auction, Colo-Colo shares ended 4.3% higher at CLP250.02 </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> Market volume totaled CLP81.1 billion the prior session. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Heavily-weighted Cencosud rose 1.3% to CLP3,649.80 as its investment plan, which was reported after market close the prior session. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">LAN Airlines gained 0.4% to CLP14,573.00, after the Cuetos transferred their stake in the airline from their Costa Verde Aeronautica (CVA.SN) holding company to another holding company they own. The move aims to simplify LAN's ownership structure to facilitate the merger process with Brazilian carrier TAM SA (TAM, TAMM4.BR). </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The blue-chip index had fallen sharply since Monday when the central bank's half-year Financial Stability Report said the Ipsa was overpriced. "We likely won't see the Ipsa falling much further on the central bank's comments after this week's correction," said Arriagada. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The peso ended slightly weaker against the dollar in very light trading ahead of the Christmas holiday. The peso ended at CLP469.80 to the dollar compared to Thursday's close of CLP469.30, while trading in a range of CLP468.90 to CLP470.30. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended mixed in light over-the-counter trading. The yield on five-year BCU bonds ended at 2.65%, from 2.64% on Thursday, while the yield on 10-year BCUs closed at 2.91%, from 2.92% the prior session </span>.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile Peso Closes Slightly Weaker</span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Chile's peso ended slightly weaker against the dollar Friday in very light trading ahead of the Christmas holiday. </span><span style="font-family: Arial,Helvetica,sans-serif;">The peso ended weaker at CLP469.80 to the dollar compared to Thursday's close of CLP469.30, while trading in a range of CLP468.90 to CLP470.30.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Government's Corfo Approves Stake Sale In Water Utilities</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Chilean government's Corfo development corporation approved the sale of the state's minority stakes in four water utilities, which is expected to garner a total of $1.6 billion. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The funds will be used to help finance other state companies such as copper giant Corporacion Nacional del Cobre de Chile and the government's reconstruction efforts following the devastating earthquake that hit the country in February. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"Corfo's board has decided to use these funds to strengthen the financial position of certain state companies which need a capital injection to expand their operations and for profitable investments in projects that will improve their productivity," Corfo said in a statement Friday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">At a joint press conference Wednesday, Chile's Finance and Economy Ministers announced the sale, which needed Corfo's stamp of approval. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The government aims to sell its 35.0% stake in Aguas Andinas SA (AGUAS-A.SN), which operates in Santiago; its 43.4% stake in Essbio SA (ESSBIO-A.SN) and 45.5% participation in the Essal SA utilities, both operating in southern Chile; and its 29.4% stake in Esval in the port of Valparaiso. The sale of the utilities could take six to nine months to complete. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">THURSDAY:</span><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;"> </span></b></i><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHILE STOCKS CLOSE FLAT THURSDAY</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Chile's blue-chip Ipsa index ended little changed Thursday, as participants remained wary after the central bank warned on Monday that the local market is overvalued. </span><span style="font-family: Arial,Helvetica,sans-serif;"> The Ipsa slipped 0.04% to 4884.09, following three straight declines, while market volume fell to 81.1 billion Chilean pesos ($172.9 million), compared with CLP171.6 billion the prior session. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">With the Ipsa gaining nearly 39% in peso terms and 46% in dollars in 2010 prior to this week's losses, the central bank's half-year Financial Stability Report on Monday said the Ipsa was overpriced. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"The central bank's assessment created the feeling among some that there was a bubble in the local equity market...although that's something we disagree with," said Maria Jesus Bofill, analyst with local brokerage BCI Corredor de Bolsa. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">According to a BCI report, fundamentals such as strong expected growth and corporate earnings support the Ipsa rising to 5,670 points by the end of 2011. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Among decliners Thursday, power companies fell again as the government is expected to decide next week on stricter emissions rules for existing thermal generation plants. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Energy holding company Enersis (ENI, ENERSIS.SN) lost 0.8% to CLP218.46, while power generators Colbun (COLBUN.SN) declined 0.7% to CLP130.10, and AES Gener (GENER.SN) dropped 1.4% to CLP256.47. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Construction and real-estate companies were among the biggest decliners. </span><span style="font-family: Arial,Helvetica,sans-serif;">Construction company Besalco (BESALCO.SN) fell 1.5% to CLP1,040.00, rival SalfaCorp (SALFACORP.SN) dropped 1.0% to CLP1,693.00, and real-estate developer Socovesa (SOCOVESA.SN) declined 2.8% to CLP372.00. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Shipping company Compania Sud Americana de Vapores (VAPORES.SN) gained 3.3% to CLP588.98 after local investment bank Celfin Capital initiated coverage on the company with a buy rating and a 12-month target price of CLP720. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The peso ended slightly weaker against the dollar on concerns the central bank might soon intervene the local currency market and on the fall in international copper prices and the euro's slip versus the dollar. </span><span style="font-family: Arial,Helvetica,sans-serif;">The peso ended at CLP469.30 to the dollar compared with Wednesday's close of CLP468.80, while trading in a range of CLP468.30 to CLP470.30. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended higher after local retailer La Polar (LAPOLAR.SN) issued a total $229.6 million in six-, 10- and 21-year inflation-indexed bonds. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The yield on five-year BCU bonds ended at 2.64%, up from 2.63% Wednesday, while the yield on 10-year BCUs closed at 2.92%, up from 2.90% the prior session.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Decline Wednesday</span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Chile's blue-chip Ipsa index ended 1.2% lower Wednesday, its third straight decline, after the central bank recently warned that local stocks are overpriced. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Ipsa fell to 4891.14, while market volume grew to 171.6 billion Chilean pesos ($366 million), compared to volume of CLP151.8 billion the prior session. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">As the Ipsa gained around 39% measured in pesos and 46% measured in dollars in 2010 prior to this week's losses, the central bank's president, Jose de Gregorio, said Tuesday that "the Ipsa is somewhat overvalued." </span><span style="font-family: Arial,Helvetica,sans-serif;">His assessment, which echoed those made Monday in the central bank's half-year Financial Stability Report, has pulled the Ipsa lower since the start of the week. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">"If the Ipsa were to continue rising, companies would need to post better-than-expected earnings next year to justify that," Andaur said. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Retailers, which have fueled the Ipsa's record-run this year, were among the session's biggest decliners, as were power generators. </span><span style="font-family: Arial,Helvetica,sans-serif;">Within the retail sector, the nation's largest department store, Falabella (FALABELLA.SN), shed 1.0% to CLP5,174.60; retail holding giant Cencosud (CENCOSUD.SN) decreased 1.9% to CLP3,605.10; retailer La Polar (LAPOLAR.SN) fell 1.8% to CLP3,338.60; and department store Ripley (RIPLEY.SN) lost 1.2% to CLP649.98. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">After the government said it could tighten emissions rules for existing thermal generation plants, power generators saw their share prices slip. </span><span style="font-family: Arial,Helvetica,sans-serif;">The nation's largest power producer Endesa (EOC, ENDESA.SN) decreased 1.6% to CLP867.36; its parent company, energy holding firm Enersis (ENI, ENERSIS.SN), lost 2.1% to CLP220.20; and rival Colbun (COLBUN.SN) declined 1.4% to CLP130.95. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The peso ended flat against the dollar, just shy of a 31-month high, as participants feared the central bank could intervene in the local currency market if the peso continues appreciating. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The peso ended at CLP468.80 to the dollar compared with Tuesday's close of CLP468.70, while trading in a range of CLP468.50 to CLP471.00. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The central bank's de Gregorio said Monday the monetary authority "doesn't rule out" increasing foreign currency reserves as a way to alleviate the peso's strength. </span><span style="font-family: Arial,Helvetica,sans-serif;"> In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended slightly lower in thin over-the-counter trading. </span><span style="font-family: Arial,Helvetica,sans-serif;">The yield on five-year BCU bonds ended at 2.63%, down from 2.64% on Tuesday, while the yield on 10-year BCUs closed at 2.90%, down from 2.92% in the prior session. </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Close Lower Monday</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">Chile's blue-chip Ipsa index ended lower Monday as investors selectively booked profits on sectors that have posted strong growth recently. The Ipsa ended 0.3% lower at 4992.94, while market volume fell to 105.4 billion Chilean pesos ($224.3 million), compared to CLP226.5 billion Friday. The Chilean peso closed at a 31-month high against the dollar, as international copper prices rose. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">Retailer La Polar (LAPOLAR.SN) fell 1.7% to CLP3,449.10 after rising sharply over the last couple of sessions. The retailer's shares gained recently as market participants speculated that local businessman Alvaro Saieh, whose family holds a controlling stake in local bank Corpbanca (BCA, CORPBANCA.SN) and the La Tercera newspaper, is looking to purchase a stake in it. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Construction company SalfaCorp (SALFACORP.SN) dropped 1.2% to CLP1,724.60, and real-estate developer Socovesa (SOCOVESA.SN) declined 1.3% to CLP388.53 following recent strong gains on expectations that a ramping up of post-earthquake reconstruction activities will boost profits. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Earlier in the session, the Lima Stock Exchange decided to suspend integration with its Chilean and Colombian peers until capital gains taxes in Peru are standardized to 5%. The Chilean and Colombian bourses will continue with the integration of their stock exchanges without their Peruvian counterpart, a Santiago Stock Exchange statement said. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile's 2010 GDP May Grow 5.2%</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Gross domestic product will likely grow 5.2% on the year in 2010 and between 5.5% and 6.5% in 2011 on significant domestic demand, the bank said Monday. Chile produces more than a third of the world's copper, the price of the metal is a significant indicator of the country's economic health. <br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Finance Minister Felipe Larrain said Monday. "We've had a year of recovery, from a GDP contraction of 1.5% last year; growth [this year] will likely be in the middle of the 5%-to-5.5% range," Larrain said in a speech Monday at the presidential palace. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">PERU:</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PERU STOCKS CLOSED LOWER THURSDAY</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Peru's main stock market indices ended mixed Thursday, following uneven results in international markets and some lower metals prices. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Lima Stock Exchange's broad General index close down 0.13% at 22689.38. The Selective blue-chip index was up however by 0.35% to close at 31411.27. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Losing ground was silver and zinc miner Sociedad Minera El Brocal SAA (BROCALC1.VL), down 0.87% to close at $57. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Peru's leading property and engineering company Grana y Montero (GRAMONC1), was lower by 1.18% to close at 6.72 soles ($2.40), while financial holding company Credicorp Ltd. (BAP) lost 0.20% to close at $119.61. Credicorp owns Peru's biggest bank, Banco de Credito. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Copper miners however gained ground, with Southern Copper Corp. (SCCO, SCCO.VL) up 0.21% to close at $48.35, while Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) was up 0.98% to close at $50.50. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">According to the Central Reserve Bank of Peru's website, the sol ended slightly stronger at PEN2.800 per dollar. In the previous session the central bank said the sol closed at PEN2.803 per dollar. </span><br />
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<span style="font-size: x-large;">Peru's Main Indexes End Higher Monday</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Peru's main stock market indexes ended higher Monday, boosted by metals prices and despite news that the Lima exchange is suspending a planned integration with the Chilean and Colombian exchanges. The sol ended slightly stronger at PEN2.808 per dollar. In the previous session the sol closed at PEN2.813. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">A statement from Peru's stock exchange earlier in the day said the planned merger was on hold until passage of a new law standardizing capital gains taxes at 5%, from a current range of 5% to 30%. The Lima Stock Exchange's broad General index rose 0.26% to close at 22092.86. The Selective blue-chip index rose 0.08%, closing at 30896.49, while the key mining subindex gained 0.71%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Precious metals miner Compania de Minas Buenaventura SAA (BVN, BUENAVC1) rose 1.15% on higher gold prices to close at $48.55, while red metal miner Southern Copper Corp. (SCCO, SCCO.VL) was up 1.48%, in line with higher red metal prices, to close at $47.21. Tin miner Minsur SA (MINSURI1.VL) rose 1.68% to close at 10.87 soles ($3.88), as tin prices gained. Credicorp Ltd. (BAP), rising 0.25% to close at $121.30. Credicorp owns Peru's biggest bank, Banco de Credito. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">VENEZUELA:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Venezuela Unemployment Drops To 7.7%</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Venezuela's unemployment rate declined to 7.7% in November, compared with the 9% rate seen in October, the National Statistics Institute, or INE, reported Thursday. Unemployment in the South American country was recorded at 7.5% in November 2009, the institute said. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">According to the post on the INE website, 44.8% of employed Venezuelans worked in the informal economy last month while 55.2% were in the formal sector.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Markets:</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY:</b> EURO STOXX 50 2,861.94 -7.69 (-0.27%) <br />
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THURSDAY:EURO STOXX 50 2,860.37 -9.26 (-0.32%) <br />
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WEDNESDAY: <span style="font-family: Arial,Helvetica,sans-serif;">EURO STOXX 50 2,869.63 -7.36 (-0.26%)</span> <br />
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TUESDAY<b>:</b> DJ EURO STOXX 50 2,859.44 +20.22 (0.71%) <br />
The European benchmark Stoxx Europe 600 Index advanced, extending a two-year high, and U.S. equities futures rose.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The euro rose from near a two-week low against the dollar and yen after Chinese Vice Premier Wang Qishan said his nation had taken “concrete action” to help the European Union with its debt problems.<br />
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The euro climbed 0.2 percent to $1.3154 as of 6:23 a.m. in New York, from $1.3131 yesterday, when it dropped to $1.3095, the lowest since Dec. 2. The common currency was up 0.1 percent to 110.08 yen after paring earlier gains. It fell to 109.58 yen yesterday, the weakest since Dec. 7. The Japanese currency rose to 83.69 per dollar, from 83.77, after reaching 83.57, the strongest since Dec. 14.<br />
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The euro gained on speculation investments by China, which holds a record $2.65 trillion in foreign-exchange reserves, will ease Europe’s sovereign fiscal crisis and boost the allure of assets in the region.<br />
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China - EU Largest Trading Partner<br />
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The EU is China’s largest trade partner and the Asian nation is Europe’s second-biggest export market, with bilateral trade increasing 33.1 percent in the 11 months through November from a year earlier to $433.88 billion, China’s customs department said on Dec. 10.<br />
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“EU members have taken a number of steps to actively respond to the sovereign-debt crisis,” Wang said at a forum in Beijing today. “We hope these measures will quickly produce results and lead to a steady recovery of the EU economies.”<br />
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EU OKS EMERGENCY MEASURES TO HELP IRISH BANKS<br />
The European Commission temporarily approves billions of euros in state aid as emergency measures to help Allied Irish Banks, the nationalized Anglo Irish Bank and the Irish Nationwide Building Society.<br />
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<b>MONDAY: </b>EURO STOXX 50 2,851.19 +29.42 (1.04%) <br />
The Stoxx Europe 600 index advanced 0.7% to end at 278.38 points European stocks rose on Monday, with the Italian market posting particularly strong gains, while airlines and retailers fell on fears of lost business caused by the severe wintry weather. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">UNITED KINGDOM: </span></div><b>FRIDAY:</b> FTSE 100 6,008.92 +12.85 (0.21%) <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FTSE Ends Higher Friday;</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Closes Above 6000</span><br />
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FTSE 100 6008.92 +12.85 +0.21%<br />
FTSE 250 11492.88 -76.34 -0.66%<br />
DJ UK Smaller Companies 971.44 -1.93 -0.20%<br />
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Most mining stocks close in the red, with Randgold Resources down 4.3% after a profit warning. African Barrick Gold is down 1.2% and Eurasian Natural Resources down 0.9%. On the upside, however, retailers advance, with Next +2% and Kingfisher +1.3%.<br />
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Rangold Resources Ltd. (GOLD, RRS.LN) has revised its fourth-quarter gold production guidance to between 135,000 and 140,000 troy ounces after suffering production setbacks in Ivory Coast and Mali, the company's chief financial officer said Friday.<br />
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THURSDAY: FTSE 100 5,996.07 +12.58 (0.21%) <br />
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WEDNESDAY: FTSE 100 5,983.49 +31.69 (0.53%) <br />
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TUESDAY: FTSE 100 5951.80 +60.19 +1.02% <br />
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London Stocks End Up Higher Tuesday<br />
FTSE 100 5951.80 +60.19 +1.02%<br />
FTSE 250 11506.65 +73.54 +0.64%<br />
DJ UK Smaller Companies 964.34 +3.77 +0.75%<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Economy Faces Difficult Months Ahead </span></div>U.K. Prime Minister David Cameron said Tuesday that the country's economy faced some challenging months ahead as many trading partners faced uncertainty, but the government was focused on driving growth and boosting employment.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Business Minister In Threat To Quit If Pushed</span><br />
The U.K. business minister has privately indicated he could quit and "bring the government down" if he is pushed too far in talks with the Conservatives, in remarks published Tuesday.<br />
The loose tongue of the U.K. business secretary might have created headlines the country's coalition government could have done without Tuesday, but it's the latest figures on the public finances that are likely to cause more long-term difficulties.<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">UK Treasury: Nov Net Borrowing Data In Line With OBR Forecast </span><br />
The U.K. Treasury said Tuesday the dire November net borrowing data still left the government on track to meet the independent Office for Budget Responsibility's full-year borrowing estimates.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">UK Dec Consumer Confidence Steady Ahead Of Sales Tax Hike </span><br />
U.K. consumer confidence held steady in December, helped by an increase in perceptions over buying big ticket items ahead of the U.K.'s steep sales tax hike in January which masked falls elsewhere, a monthly survey released by polling firm GfK NOP showed Tuesday.<br />
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The U.K.'s Office for Budget Responsibility said Tuesday it has only factored GBP1.6 billion in central government privatization proceeds into its official forecasts for coming years.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">London Stocks End Higher Monday</span><br />
FTSE 100 5891.61 +19.86 +0.34%<br />
FTSE 250 11433.11 +6.33 +0.06%<br />
DJ UK Smaller Companies 960.56 +0.38 +0.04%<br />
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The U.K. economy will continue to recover over the next two years, but only slowly, with growth particularly sluggish at the start of 2011, the Confederation of British Industry said Monday. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">U.K. retailers face a sales shortfall of up to 5% in their busiest and most important quarter as last minute Christmas shoppers are stymied by the severe weather.The head of British airports operator BAA Airports Ltd. apologized Monday for chaos at London Heathrow as freezing weather threatened to ruin Christmas plans for "many thousands" of people.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">U.K. gross mortgage lending grew at a slower pace in November from October, and at the slowest November pace since 2000. U.K. net mortgage lending accelerated slightly in November from October, according to data from the Bank of England Monday.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">U.K. Prime Minister David Cameron played host to union leaders Monday for the first time since taking office, even as senior officials from the labor movement urged action against the government's austerity plans.<br />
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<span style="font-size: large;">National Grid Reassures UK Customers Gas Demand At Record High</span><br />
U.K. natural gas network operator National Grid PLC (NGG) sought to reassure consumers Monday that there would be sufficient supplies to a meet a new all-time high in demand, despite the utility issuing a gas balancing alert Sunday.<br />
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Apax Partners is nearing a deal to acquire German clothing retailer Takko for roughly EUR1.3 billion ($1.7 billion), people familiar with the matter said, in the U.K. private-equity firm's latest big-ticket purchase from a rival buyout firm.<br />
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Shares in Gartmore Group Ltd. (GRT.LN) fell sharply Monday after the troubled U.K. find manager said that it is considering a takeover proposal from local rival Henderson Group PLC (HGI.LN) at a discount to its recent share price.<br />
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Shares in online gaming company 888 Holdings PLC (888.LN) rose 19% Monday morning on the London bourse following a second takeover tilt from Ladbrokes PLC (LAD.LN), four years after its first attempt to buy its smaller rival.<br />
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<span style="font-size: x-large;">GERMANY: </span><br />
<i><b>Germany’s DAX is closed until Monday </b></i><br />
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MONDAY:<b> </b>The German DAX 30 index rose 0.5% to end at 7,018.60 <br />
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The German fertilizer producer rose 1.5% after its Chief Executive Norbert Steiner told the Frankfurter Allgemeine Sonntagszeitung that he believes the company's C$434 million ($431.8 million) takeover offer for Potash One Inc. of Canada would be successful, according to Reuters. <br />
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Deutsche Lufthansa AG fell 0.8% after severe weather disrupted flights across Europe. <br />
London retailer Apax may be near deal to buy German retailer Takko <br />
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Shares of Volkswagen AG rallied 3.7%<br />
BMW AG gained 1.9%<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">FRANCE:</span><br />
<b>FRIDAY:</b> CAC 40 3,900.39 -10.93 (-0.28%) <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">France To Build Two Naval Command Ships With Russia</span><br />
France and Russia have agreed to build jointly two French Mistral-class command and amphibious assault warships, and possibly four, President Nicolas Sarkozy's office said Friday. <br />
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THURSDAY:CAC 40 3,898.63 -21.08 (-0.54%) <br />
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WEDNESDAY: CAC 40 3,919.71 -7.78 (-0.20%) <br />
TUESDAY: CAC 40 3,908.03 +22.95 (0.59%) <br />
MONDAY:<b> </b>CAC 40 3,885.08 +17.73 (0.46%)<br />
Shares of Peugeot SA up 0.8% and Michelin SA up 1.6%. <br />
Credit Agricole SA fell 2.1%<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">French Sovereign Debt Insurance Costs Hit All-Time High</span><br />
The cost of insuring French sovereign debt against default using credit default swaps hit an all-time high Monday, as the CDS market tracked weakness in the cash bond market and CDS contracts were extended for three months. <br />
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France's five-year sovereign CDS rose to 108 basis points, according to Markit, from a previous high of 105 basis points on Nov. 30. "Volumes are very light, and French cash is seeing some selling by fast money," said one trader. <br />
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The quarterly CDS "roll," when contracts are extended by three months, also contributed to the rise, this trader said. CDS are derivatives that function like a default insurance contract for debt. If a borrower defaults, sellers compensate buyers. A rise of one basis point in the cost of five-year CDS equates to a $1,000 rise in the annual cost of protecting $10 million of debt for five years.<br />
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<span style="font-size: x-large;"><span style="font-family: Arial,Helvetica,sans-serif;">BELGIUM: </span></span><br />
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<b>WEDNESDAY: </b><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Belgium Dec Business Confidence Rises To +3.1 From +0.8</span><br />
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Confidence among Belgian business executives rose in December for the sixth straight month, reaching its highest level since the fourth quarter of 2007, the Belgian central bank said Wednesday. <br />
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The bank's measure for business sentiment climbed to +3.1 in December from +0.8 in November, driven almost entirely by a sharp rise in confidence among manufacturers. <br />
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Confidence in the construction sector also rose, but it fell in the trade and business-services segments of the indicator. <br />
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Although Belgium accounts for only about 4% of the European Union's gross domestic product, the survey of business sentiment is closely watched. The country is one of the most open economies in the world, with exports accounting for about 75% of GDP. To calculate confidence, the bank polls the heads of about 4,500 companies, subtracting negative votes from positive ones. <br />
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<span style="font-size: x-large;">IRELAND:</span><br />
THURSDAY: <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">IRELAND RECAPITALIZES ALLIED IRISH BANK</span></div>Ireland's Finance Minister Brian Lenihan announces plans to recapitalize Allied Irish Banks by 3.7 billion to meet the financial regulator's year-end capital requirements, effectively making it the fourth lender to be nationalized. <br />
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WEDNESDAY: Dublin Stocks: ISEQ Ending Flat At 2,868; AIB -6.4% <br />
TUESDAY: Dublin Stocks: ISEQ Ending +1.3% At 2,871; Bank Of Ireland +8.6%<br />
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<span style="font-size: x-large;">SPAIN:</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">SPAIN SAYS 2010 DEFICIT TO BE IN LINE WITH FORECAST</span></div>Spain's central government budget deficit narrows 46% in the eleven months to November, in further evidence the country's efforts to close one of the euro zone's biggest funding gaps is on track.<br />
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<span style="font-size: x-large;">PORTUGAL:</span><br />
THURSDAY: <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FITCH CUTS PORTUGAL RATING</span><br />
Fitch cuts its ratings on Portugal, citing a slower reduction in the current deficit and a "much more difficult financing environment" for its government and banks. Rating cut one notch to A+, putting it four notches under highest rating of AAA. <br />
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<span style="font-size: x-large;">FINLAND:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Finland Raised 2010 Growth Forecast</span><br />
The Finnish government Monday upgraded its growth forecast for this year but also marginally downgraded its prediction for 2011 and warned the country's general government finances would remain deep in the red for years to come. <br />
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The finance ministry said it expected Finland's gross domestic product to grow 3.2% this year and 2.9% in 2011, compared with an August forecast of 2.0 and around 3.0% respectively. <br />
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In the third quarter, the Nordic country's economy grew 3.7% year-on-year according to official statistics released earlier this month. <br />
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"The Finnish economy has recovered quickly and widely from the 2009 financial crisis," the ministry said in a statement. <br />
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Finland, the only Nordic country that is part of the euro zone, took a harsher beating during the global financial crisis than its Scandinavian neighbors. The ministry stressed Monday that unemployment was falling faster than predicted and was expected to slip from 8.4% this year to 7.8% next year and 7.4% in 2012. <br />
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Inflation meanwhile was expected to continue climbing to 2.4% in 2011, it said. The Finnish turnaround was linked to a pick-up in world trade, driven by strong growth in developing Asian countries and in Latin America, it said, adding however that trade in most of Europe remained sluggish. <br />
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The country's public finances, while in better shape than in a number of other euro-countries, would meanwhile remain in the red for years to come, the ministry cautioned, adding the public deficit would this year swell to above the 3% limit specified by the Stability and Growth Pact. <br />
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"Economic growth, tax increases and the gradual ending of stimulus measures will improve the state of general government finances in 2011, but even so general government finances will remain in deficit, and there is currently no prospect of rectifying the situation in the next few years," the ministry said. <br />
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Finland's export-reliant economy exited recession at the beginning of this year and its economy has slowly but steadily been improving. Last year, the country's economy shrank by nearly 8%, as demand for its capital investment equipment and other main exports plummeted. <br />
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<span style="font-size: x-large;">RUSSIA:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">FRIDAY:</span></span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;"> </span></span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Russia's X5 To Become Europe's Largest Retailer</span><br />
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X5 Retail Group NV (FIVE.LN), Russia's top retailer by sales, aims to become Europe's largest retailer by 2020, Kommersant reports Friday citing an interview with the X5's Chief Executive Lev Khasis. <br />
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Khasis said X5 has an aim for its annual gross sales "to be close to or exceed" RUB3 trillion ($98 billion) by 2020. X5 said Thursday it expects its 2011 gross sales to exceed RUB500 billion, up 40% on the year. <br />
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X5 plans to grow both organically and through mergers and acquisitions, Khasis said. X5 acquired Russian grocery chain Kopeyka for $1.65 billion earlier this month.<br />
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Newspaper Web site: <a href="http://kommersant.ru/">http://kommersant.ru</a><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Russian Central Bank Lifts</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Deposit Rate 25 Basis Points</span><b><br />
</b>Russia's central bank tightened monetary policy for the first time since 2008 on Friday, citing growing worries that rising food prices will spur inflation. <br />
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<i>"Inflation risks...remain moderate, but need greater attention from authorities,"</i> the central bank said in a statement accompanying the decision. <i>"The change will not lead to a significant increase in the cost of funds for end borrowers." </i><br />
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The overnight deposit rate will be raised by 25 basis points to 2.75% effective Monday, while the benchmark refinancing rate was left at an all-time low of 7.75%. <br />
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Expectations of higher interest rates were spurred by a combination of solid economic growth in November and rising inflation, which accelerated in the past week as a flood of year-end budget spending hit the economy. <br />
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Central bank officials have also indicated in the past that they would like to narrow the spread between various rates. <br />
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<i>"Both producer and consumer price growth keeps accelerating, speaking for the necessity to tighten monetary policy,"</i> said HSBC's Alexander Morozov in a note to investors before the decision. <i>"Against such a backdrop, some monetary tightening should not harm industrial growth since all policy rates are in negative in real terms now." </i><br />
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Inflation for the year will be lower than last year's 8.8%, the central bank said. Inflation now stands at 8.4% since the beginning of the year, threatening government forecasts of 8.3% to 8.5%. <br />
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Russia's central bank chief Sergei Ignatyev on Friday reiterated that the regulator was worried about inflation, which he said was chiefly a result of higher food prices spurred by the summer's crippling drought. <br />
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The ruble strengthened to its highest point since September in the run-up to the announcement, but slid to close with a 0.3% gain at RUB34.745, just above its 200-day moving average. Traders expected short-term profit taking in the currency, as market players unwind positions going into the New Year holidays. <br />
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The Bank of Russia may have also raised rates in order to rein in capital outflows, which have tapered off in December but far exceeded the regulator's targets for the year. <br />
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<i>"In our view, these flows are largely driven by structural factors, such as savings rates continuing to grow faster than investment,"</i> Goldman Sachs said in a note to investors <i>"We doubt that higher interest rates will be very effective in stemming that flow and instead believe the outflows will ultimately increase the pressure on authorities to reduce some of the barriers to investment."</i><b><br />
</b><br />
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<b> </b></div><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Russia Agrees to Buy 2 French Warships</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">Russia agreed Friday to buy at least two French warships in a deal that would boost Moscow's deployment abilities and has worried some of Russia's neighbours.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">It's one of the largest military deals between a NATO country and Moscow.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The Kremlin said in a statement Friday that it "has made its choice" to buy two Mistral-class ships. Russian President Dmitry Medvedev informed French President Nicolas Sarkozy on Friday of the decision, Sarkozy's office said in a statement.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The Mistral, which could carry as many as 16 helicopters and dozens of armoured vehicles, would allow Russia to land hundreds of troops quickly on foreign soil.</div><div style="font-family: Arial,Helvetica,sans-serif;">The prospect has alarmed Georgia, which fought a brief war against Russia in 2008, as well as the ex-Soviet Baltic nations in NATO.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">France and Russia have been in talks about the sale for months, but negotiations had dragged on amid questions about how many ships would be built and where, and how much of the technology France would share.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">France was seen as the leading contender for the contract, though Russian officials said they were also looking at similar ships built by Spain and Netherlands.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">French companies DCNS and STX and Russia's OSK will build the first two ships, according to the deal, "which should be extended by the construction of two additional units," Sarkozy's statement said.</div><div style="font-family: Arial,Helvetica,sans-serif;">The two presidents hailed what they called unprecedented co-operation, saying it showed their commitment to developing partnerships in defence and security.</div><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Asian Pacific Markets:</span><br />
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<span style="font-size: x-large;">CHINA:</span><br />
<b> </b></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b></b></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY:</b> Shanghai 2,835.16 -20.06 (-0.70%)<br />
Hang Seng Index 22,833.80 -69.17 (-0.30%) </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">THURSDAY: Shanghai 2,855.22 -22.68 (-0.79%) </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Hang Seng Index 22,902.97 -142.22 (-0.62%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">WEDNESDAY: Shanghai 2,877.90 -26.22 (-0.90%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Hang Seng Index 23,045.19 +51.33 (0.22%) </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">TUESDAY: Shanghai 2,904.11 +51.20 (1.79%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Hang Seng Index 22,993.86 +354.78 (1.57%) </span><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">SATURDAY: December 25, 2010</span></b><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<h1 class="top_head" style="font-family: Georgia,"Times New Roman",serif; font-weight: normal;"><span style="font-size: x-large;">China raises key interest rates again after inflation hit 28-month high</span> </h1><div class="byline first_byline"><span style="font-family: Arial,Helvetica,sans-serif;">By: </span><span style="font-family: Arial,Helvetica,sans-serif;">The Associated Press</span></div><div class="byline first_byline" style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">BEIJING, China - China increased interest rates Saturday for the second time in little more than two months as the government steps up its fight against rising inflation that could threaten political stability.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The move by the People's Bank of China had been expected by the end of the year or early next year.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Effective from Sunday, the benchmark one-year lending rate will climb 25 basis points to 5.81 per cent, while the one-year deposit rate will go up the same amount to 2.75 per cent, the central bank said on its website.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Earlier this month, China's leaders wrapped up an annual economic planning meeting with a pledge to cool surging inflation while shifting the economy toward more stable, balanced growth.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Inflation is especially sensitive in a society where poor families spend up to half their incomes on food. Rising incomes have helped to offset price hikes, but inflation undercuts economic gains that help support the ruling Communist party's claim to power.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Inflation jumped to 5.1 per cent in November, a 28-month high despite a crackdown on speculation and repeated moves to curb a flood of money circulating in the economy from massive stimulus spending and bank lending.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Chinese banks lent a total of 7.45 trillion yuan (US$1.1 trillion) in January-November and are certain to overshoot the government's official lending target of 7.5 trillion yuan.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">While a frenzy of lending over the past two years has helped China rebound quickly from the global crisis, combined with bad weather and rising global commodity prices, it has complicated efforts to cool inflation.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">November's rate was way above the government's original target of three per cent.</div><div style="font-family: Arial,Helvetica,sans-serif;">The rate increases, which follow similar moves Oct. 19, also highlight the divergence of China's robust economic expansion from the United States, Europe and Japan, which still are trying to shore up growth.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">China's rapid economic growth eased to 9.6 per cent in the three months ending in September from a post-crisis high of 11.9 per cent in the first quarter. It is expected to fall further in coming months but to remain strong.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Mindful of the political turmoil linked to past bouts of inflation, Beijing has already sought to reassure the public it has prices under control.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Earlier this month it raised banks' reserve requirement ratio — meaning they have to hold more deposit funds in reserve rather than lending them out —for the sixth time this year to help curb the surge in lending.</div><div class="byline first_byline"><span style="font-family: Arial,Helvetica,sans-serif;">. </span></div><div class="byline first_byline"><br />
</div><div class="byline first_byline"><span style="font-family: Arial,Helvetica,sans-serif;"> </span> </div><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">FRIDAY:</span></b><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">China Limits New Cars in Beijing</span></span><span style="font-family: Arial,Helvetica,sans-serif;">China overtook the US as the world's biggest car and van market in 2009, with 13.6 million vehicles sold within the country.</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">New rules take effect in China that restrict car purchases for 2011 by two-thirds in an effort to combat rising traffic woes in the capital, Beijing. City authorities will allow only 240,000 vehicles to be registered for 2011 - one-third of this year's total.<br />
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Car buyers have been swamping dealers in anticipation of the new rules, which will still leave about five million cars on the road in the capital. Traffic and air pollution in Beijing is among the worst in the world.<br />
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Beijing officials are trying to balance the desire of a growing middle class to have the convenience and status of car ownership, with a huge congestion problem. Officials said the new rules would not solve the full extent of the city's problems, only slow the down the rate at which they are worsening.<br />
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Car registrations will be allocated by a license plate lottery system from Friday.<br />
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Under the new rules, government departments will not be allowed to increase the size of their fleets for five years. About 750,000 new cars appeared on Beijing's streets this year, raising the total of registered vehicles for the city 4.8 million.<br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA RAISES FUEL PRICES</span><br />
China will raise gasoline and diesel prices by 3.8% and 4% respectively beginning Wednesday in the face of rising crude oil prices, despite persistent worries about inflation. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">MONDAY: Shanghai 2,852.92 -40.82 (-1.41%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Hang Seng Index 22,639.08 -75.77 (-0.33%) </span><br />
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<span style="font-size: x-large;">JAPAN:</span></span><br />
<div class="separator" style="clear: both; text-align: center;"></div><span style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY: </b>Nikkei 225 10,279.19 -67.29 (-0.65%) <b> </b></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>HOLIDAY SCHEDULE THURSDAY </b></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><b>THURSDAY</b>: Nikkei 225 10,346.48 -24.05 (-0.23%) </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">WEDNESDAY: Nikkei 225 10,346.48 -24.05 (-0.23%) </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">TUESDAY: Nikkei 225 10,370.53 +154.12 (1.51%) </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">MONDAY: Nikkei 225 10,216.41 -87.42 (-0.85%)</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">FRIDAY:<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Japan Agrees on Record 92.4 Trillion Yen Draft Budget</span></div><span style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Japanese government has approved a record level of spending of 92.4 trillion yen ($1.1tn; £711bn) for the next financial year. The cabinet agreed the draft budget, which must still be approved by parliament before 31 March.<br />
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Japan's economy has suffered from deflation, a high yen that hurts exports, weak domestic demand and poor consumer confidence. The budget is aimed at boosting the economy, but adds to public debt.<br />
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Debt-servicing costs and social security spending making up about 55% of the budget. Aid for local authorities accounts for another 18.2% of the budget. The remainder of the spending is split among defense, public works projects, education and technology.<br />
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The Democratic Party-led administration has promised to keep new borrowing at 44.3tn, in line with this year's level.<br />
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But Japan was forced to raise spending due to higher debt servicing costs. Japan's public debt is expected to reach 891tn yen, or 184% GDP, by the end of March 2012, the highest among developed nations.<br />
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The government said tax revenues would be about 40.9tn yen in the next fiscal year, with another 7.2tn raised by raiding special reserves.The government has already reined in spending programs including handouts to fund childcare.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Fujitsu To Expand Investment In Cloud Computing In 2011</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Fujitsu Ltd. (FJTSY) President Masami Yamamoto said Friday the company plans to invest more in cloud computing in fiscal 2011 than the roughly 100 billion yen ($1.21 billion) in fiscal 2010 ending next March. <br />
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<span style="font-size: x-large;">SOUTH KOREA:</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">TENSIONS IN KOREA</span></div><span style="font-family: Arial,Helvetica,sans-serif;">South Korea completes a regular artillery test at a marine outpost on Yeonpyeong Island, with dozens of rounds directed into waters southwest of the island. There has been no response so far from North Korea despite its earlier threats of retaliation. </span><br />
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<span style="font-size: x-large;">AUSTRALIA:</span><br />
<b>FRIDAY:</b> S&P/ASX 200 4,777.30 -21.70 (-0.45%) </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Rio Tinto Raised Riversdale</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Buyout Offer to $3.9bn</span><br />
Anglo-Australian mining giant Rio Tinto has upped its bid for Sydney-based Riversdale Mining, making a fresh $3.9bn (£2.5bn) offer. Riversdale's directors said that the offer provided "immediate value" and that they would be recommending it to shareholders<br />
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Rio made a $2.2bn offer for the company earlier this month.<br />
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Riversdale, whose largest shareholder is India's Tata Steel, has huge coking-coal projects in Mozambique. Both Tata and Brazil's Vale, which has coal mines in Mozambique, are seen as potential rival bidders. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">THURSDAY<b>:</b></span><span style="font-family: Arial,Helvetica,sans-serif;">S&P/ASX 200 4,799.00 +20.60 (0.43%)</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">WEDNESDAY: </span><span style="font-family: Arial,Helvetica,sans-serif;">S&P/ASX 200 4,778.40 +6.50 (0.14%)</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">TUESDAY: S&P TSX 13,193.28 -8.18 (-0.06%) </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">MONDAY: S&P/ASX 200 4,736.60 -26.50 (-0.56%) </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">NEW ZEALAND:</span> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> <b>WEDNESDAY:</b></span><span style="font-family: Arial,Helvetica,sans-serif;">The NZX-50 closed up just 0.1%, or 3.28 points, higher at 3322.38 points. </span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The New Zealand stock exchange closed flat Wednesday as volumes remained light as the holiday period nears and there was little news to excite investors. <br />
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Energy company Contact Energy closed down 1.1% to NZ$6.17 as heavy rain over the last few days changed investors' views on energy prices in early 2011. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Telecom Corp. of New Zealand closed down 0.5% to NZ$2.22 on profit taking as the stock had risen 7.2% after it was announced last week that the country's largest telecommunications player was a priority bidder to build the majority of the country's new nationwide NZ$3 billion fiber network.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Fletcher Building had released its bidder's statement in relation to its takeover bid for Crane Group, the stock closed up 0.3% to NZ$7.79 as overnight gains. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<b>(FRIDAY, DEC 24, 2010 12:30 PM EST)</b><br />
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EUR/USD 1.3116 +0.0001 (0.01%)<br />
USD/JPY 82.9100 -0.0900 (-0.11%)<br />
GBP/USD 1.5437 +0.0013 (0.08%)<br />
USD/CAD 1.0063 -0.0038 (-0.38%)<br />
USD/HKD 7.7806 +0.0034 (0.04%)<br />
USD/CNY 6.6270 -0.0180 (-0.27%)<br />
AUD/USD 1.0043 +0.0016 (0.16%)<br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> <span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<b>(FRIDAY, DEC. 24, 2010 12:30 PM EST)</b><br />
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Shanghai 2,835.16 -20.06 (-0.70%)<br />
Nikkei 225 10,279.19 -67.29 (-0.65%)<br />
Hang Seng Index 22,833.80 -69.17 (-0.30%)<br />
TSEC 8,861.10 -37.77 (-0.42%)<br />
FTSE 100 6,008.92 +12.85 (0.21%)<br />
DJ EURO STOXX 50 2,861.94 -7.69 (-0.27%)<br />
CAC 40 3,900.39 -10.93 (-0.28%)<br />
S&P TSX 13,390.57 +19.37 (0.14%)<br />
S&P/ASX 200 4,777.30 -21.70 (-0.45%)<br />
BSE Sensex 20,073.66 +90.78 (0.45%)<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">THURSDAY'S U.S. ECONOMIC CALENDAR:</span></span><br />
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</div><b style="font-family: Arial,Helvetica,sans-serif;">8:30 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Nov Advance Report on Durable Goods Total Orders (expected -0.6%), Orders, Ex-Defense (previous -2.1%), Orders, Ex-Transportation (previous -2.7%)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">8:30 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec 18 Unemployment Insurance Claims Report - Initial Claims Weekly Jobless Claims (expected 418K), Net Change (expected -2K), Cont Jobless Claims (prior week) (previous 4135000), Net Chg (prior week) (previous +22K)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">8:30 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Nov Personal Income & Outlays Personal Income (expected +0.2%), Personal Spending (expected +0.5%), PCE Price Index Monthly (previous +0.2%), Yearly (previous +1.3%), PCE Core Price Index Monthly (expected +0.1%), Yearly (previous +0.9%)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">9:55 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec Thomson Reuters / University of Michigan Survey of Consumers - final Sentiment Index End month (expected 74.5), Expectations Index End Month (previous 64.8), 12-Month Inflation Forecast (previous 3), 5-Year Inflation Forecast (previous 2.8), Value (Current Period) End Month (previous 82.1)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">10:00 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Nov New Residential Sales Overall Sales (expected 300K), Percent Change (expected +6%)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">10:00 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">DJ-BTMU Business Barometer (previous -0.7%), (52 Wk) (previous +4.4%)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">10:30 a.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec 17 EIA Natural Gas Storage Report Total Working Gas in Storage (previous 3561B), (Net Change) (previous -164B)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">4:30 p.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec 22 Federal Discount Window Borrowings Primary Credit Borrowings (previous 21M), W/E Daily Avg (previous 22M), Discount Window Borrowings (previous 45.75B), W/E Daily Avg (previous 45.22B)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">4:30 p.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec 22 Foreign Central Bank Holdings Foreign US Debt Holdings (previous 3.34T), US Foreign Agency Holdings (previous 728.47B), Foreign Treasury Holdings (previous 2.61T)</span><br />
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<b style="font-family: Arial,Helvetica,sans-serif;">4:30 p.m.</b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dec 13 Money Stock Measures </span><br />
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<i style="color: #4c1130;"><b><span style="font-family: Arial,Helvetica,sans-serif;">MARKET NOTES:</span></b> <b style="font-family: Arial,Helvetica,sans-serif;">The bond market will close early Thursday and be closed Friday for the Christmas holiday in the U.S. </b></i><span style="font-family: Arial,Helvetica,sans-serif;"><br />
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<b><span style="font-family: Arial,Helvetica,sans-serif;">ECONOMIC REPORTS:</span></b><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Wednesday provides the latest estimate on third-quarter gross domestic product, November's existing home sales, and the weekly report on U.S. petroleum supplies. The Commerce Department will report on personal income and spending, durable goods orders, and new home sales for November on Thursday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b><i><span style="color: #660000;">The U.S. market will be closed for the Christmas holiday on Friday.</span></i></b><br />
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<span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;">US STOCK MARKET SUMMARY, WED., DEC.22, 2010:</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: large;">Stocks:</span></span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><span style="font-family: Arial,Helvetica,sans-serif;">New York indexes finished higher, with the Dow Jones Industrial Average ending up 26.33 points, or 0.23%, to 11559.49 and the Nasdaq composite index rising 3.87 points, or 0.15%, to 2671.48. The broader Standard & Poor's 500-stock index finished up 4.24 points, or 0.34%, at 1258.84. Financials led the climb as investor sentiment toward the sector continued to improve following recent deal activity.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: large;">Treasurys:</span><span style="font-family: Arial,Helvetica,sans-serif;">Treasurys prices dropped after the Federal Reserve completed its last bond purchase of the week and as investors anticipated stronger data and year-end Treasury note auctions. Prices fell after the Fed bought $2.5 billion in Treasurys maturing in the next 11 to 17 years, mimicking a pattern the market has followed all week. </span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: large;">Forex:</span></span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><span style="font-family: Arial,Helvetica,sans-serif;">The Swiss franc rose broadly, hitting a record high against the euro as investors continued to seek safety from the euro zone's sovereign-debt crisis. The euro was more or less flat against the dollar, just under $1.31.</span><span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.,</span><br />
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</span><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com2tag:blogger.com,1999:blog-11562244.post-43783070747736351482010-12-12T09:43:00.000-08:002011-01-09T08:40:53.102-08:00Stock Market Update - Dec.13 - Dec, 17, 2010 Cautious Choppy Gains Seen with Mixed Economic Data<div style="font-family: Arial,Helvetica,sans-serif;">Stock Market Update<br />
Options Expiration Week </div><div style="font-family: Arial,Helvetica,sans-serif;">Friday, December 17, 2010<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="separator" style="clear: both; font-family: Arial,Helvetica,sans-serif; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>USA EQUITY INDEXES: (DEC. 17; 4:05 PM EST)</b></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b> </b></i><br />
(FRIDAY'S CLOSING NUMBERS)<br />
Dow Jones 11,491.91 <span style="color: red;">-7.34 (-0.06%)</span><br />
S&P 500 1,243.91<span style="color: #274e13;"> +1.04 (+0.08%)</span><br />
Nasdaq 2,642.97 <span style="color: #274e13;">+5.66 (+0.21%)</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<b>Dow Jones Friday's Closing Averages 12/17/2010: DJIA 11,491.91 DN 7.34</b><br />
30 INDUS 11,491.91 DN 7.34 OR 0.06%<br />
20 TRANSP 5,051.09 DN 36.21 OR 0.71%<br />
15 UTILS 401.66 UP 1.15 OR 0.29%<br />
65 STOCKS 3,998.41 DN 8.23 OR 0.21%</div></div><span style="font-family: Arial,Helvetica,sans-serif;"><b></b></span><br />
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<b>US COMMODITY PRICES: (DEC. 17; 4:05 PM EST)</b><br />
Crude Oil 88.01 - 0.01%<br />
Natural Gas 4.07 + 0.17%<br />
Gasoline 2.32 + 0.29% <br />
Heating Oil 2.47 - unchanged <br />
Gold 1374.71 + 0.36%<br />
Silver 29.16 + 0.97%<br />
Copper 4.17 + 1.31% %<br />
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<i><b>US DOLLAR FUTURES INDEX DXY: DEC. 17: 4:06PM EST: 80.39 <span style="color: #274e13;">Up 0.21 (0.26%)</span><span style="font-size: small;"> </span></b></i><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. Dollar Choppy, Stocks Flat and Commodities Lower in Mixed Trading </span></div></div>U.S. equities closed mixed Friday. The Dow shed 7 points to close the week at 11,491.92, while the S&P added 1 point to end at 1243.91, and the Nasdaq gained almost 6 points to close out the week at 2642.97.<br />
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By 1:25 U.S. stocks turned mostly positive as the dollar relaxed its gains for the day.<br />
U.S. Stocks start the session mixed with the DJIA modestly lower off 37 points and the Nasdaq Composite index showing a slight gain. Investors continue to keep an eye on European debt after a five-notch downgrade of Ireland's debt by Moody's.The Dow Jones Industrial Average fell 28 points, or 0.3%, to 11471 in early trading. The Standard & Poor's edged down 0.1% to 1241. The Nasdaq Composite added 0.1% to 2639. U.S. stocks weakened modestly after the Conference Board's index of leading economic indicators increased 1.1% last month, just under the 1.2% gain expected by economists. <br />
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Before the Bell, Friday's stocks may open slightly lower.The euro relinquished gains on Friday the U.S. Dollar is poised to rise.The dollar was also marginally lower at 83.90 yen, having repeatedly failed to break cleanly above 84.50 yen. The dollar fell against the safe-haven Swiss franc CHF: 0.9591 francs, reinforcing a view that sovereign debt problems within the G-4 remain dominant.<br />
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<div style="color: #e06666; font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. BANK FAILURES:</span></div><span style="font-size: large;"><b>The FDIC Closed Banks Friday After Hours</b></span><br />
The U.S. Government FDIC, and NCUA regulators closed additional Banks and a Credit Union late Friday and seized all assets.The Federal Deposit Insurance Corp announced it closed additional banks. Friday's announcement brings the total failures for 2010 to 157. <br />
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AEA Federal Credit Union, Yuma, AZ., December 17, 2010 <br />
Community National Bank, Lino Lakes, MN., December 17, 2010<br />
First Southern Bank, Batesville, AR., December 17, 2010 <br />
United Americas Bank, N.A., Atlanta, GA., December 17, 2010 <br />
Appalachian Community Bank, FSB, McCaysville, GA., December 17, 2010<br />
Chestatee State Bank, Dawsonville, GA., December 17, 2010<br />
The Bank of Miami,N.A., Coral Gables, FL., December 17, 2010<br />
Beehive Credit Union, Salt Lake City, UT., December 14, 2010<br />
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<i><span style="font-size: small;">To see the complete list of failed banks and credit unions visit:</span></i><br />
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<span style="font-size: large;">Online Consultancy Network™ Bank Failure List</span><br />
<a href="http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html">http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html</a> <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FDIC Lowers 2011 Budget as Bank Failures Slow</span><br />
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The FDIC’s board of directors has approved a $3.96 billion <a href="http://www.fdic.gov/news/news/press/2010/pr10267.html" target="_blank">operating budget for 2011</a>, down slightly from the $3.99 billion budget approved by the board last December for the 2010 calendar year.<br />
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<span style="font-family: arial,helvetica,sans-serif; font-size: small;">The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a $4.0 billion Corporate Operating Budget for 2011, down slightly from the 2010 budget the Board approved last December.<br />
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"I am happy that we are able to see a slight drop in next year's budget while devoting new resources to implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act," said FDIC Chairman Sheila Bair.<br />
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"We appear to have turned the corner on financial institution failures, but significant post-resolution work remains. Staff met the challenge to find savings to offset a portion of the additional resources needed to carry out our new responsibilities under the Dodd-Frank Act. This budget provides sufficient funding to resolve additional failures as they occur and to position the FDIC for the new challenges that lie ahead."<br />
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In conjunction with its approval of the 2011 operating budget, the Board also approved an authorized 2011 staffing level of 9,252 employees, up about 2.5 percent from the current 2010 authorization of 9,029.<br />
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On a net basis, all of the new positions are temporary as are 40 percent of the total 9,252 authorized positions for 2011. Temporary employees have been hired by the FDIC to assist with bank closings, management and sale of failed bank assets, and other activities that are expected to diminish substantially as the industry returns to more stable conditions.<br />
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There were 140 bank failures in 2009 and 157 so far in 2010.<br />
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"It is important for the public to understand that the FDIC's operating budget does not in any way involve the use of taxpayer funds," said Chairman Bair. "All of the FDIC's operating expenses are paid from the Deposit Insurance Fund—the DIF—which is fully funded by the industry through deposit insurance premiums."</span> <br />
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In December 2009, the <span class="caps">FDIC</span> boosted the 2010 budget by a hefty 55 percent from the previous year in order to cope with what they expected to be another round of excessive bank failures. Officials are touting the fact that no increase is planned for the upcoming year as an important sign that the financial sector is at least stabilizing.<br />
<a href="http://www.fdic.gov/news/news/press/2010/pr10267.html">http://www.fdic.gov/news/news/press/2010/pr10267.html </a></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Conference Board November Leading Index +1.1%</span><br />
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The index of leading economic indicators picked up strength in November, indicating "some sparks" in the U.S. economy. The leading index increased 1.1% last month after a revised gain of 0.4% in October first reported as 0.5%, the Conference Board said Friday. <br />
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In November, nine of the 10 leading indicators increased. The most positive indicators were vendor deliveries, the interest-rate spread and jobless claims. The only negative was building permits. <br />
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The coincident index was up 0.1% in November after a revised 0.2% gain in the prior month first reported as 0.1%. The lagging index slipped 0.1% after a revised flat reading first reported as an increase of 0.1%.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">HOUSE OKS TWO-YEAR TAX CUT EXTENSION</span></div>The House agreed to a two-year extension of tax cuts for individuals and businesses, sending the bill to President Barack Obama for signature and setting up a renewed fight over taxes in the 2012 election season. <br />
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THURSDAY: In afternoon trades U.S. stocks broadly rose Thursday, fueled by the industrial sector. The dollar declined 26% leading equities and commodities back up. U.S. equities closed higher Thursday with the Dow finishing up 41 points today to close at 11,499.25, the S&P added 7 points to end at 1242.87, and the Nasdaq gained 20 points to finish at 2637.31 for the day. <br />
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In mid-afternoon trades the Dow Jones Industrial Average rose 49 points, to 11502. Bank of America led the blue chips higher, adding 3.3%, following reports that it has begun settlement discussions with some of its largest mortgage investors. Alcoa rose 3.2% and General Electric tacked on 1.9%. <br />
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The Nasdaq Composite added 0.7% to 2637. The Standard & Poor's 500-stock index gained 8.45 points to 1243.57, led by industrial and financial companies. All 10 of the S&P 500's sectors traded in positive territory.<br />
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At mid-day Thursday, the Dow Jones Industrial Average rose 34 points, to 11490. The Nasdaq Composite added 0.7% to 2636. The Standard & Poor's 500-share index was up 0.5% to 1241, led by industrial and material companies. . <br />
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At 11:00 AM EST the dollar moved up and stocks edged up in low volume.<br />
At 10:00 AM EST stocks moved lower in mixed choppy trading. The Dow Jones Industrial Average edged down 5 points to 11453, weighed by a slew of data created a murky portrait of the U.S. economic recovery and investors harbored simmering concerns over fragile euro-zone finances going into the end of year trading and Friday's options expirations. The Nasdaq Composite added 0.2% to 2623. The Standard & Poor's 500-share index edged up 0.1% to 1236. The dollar strengthened against both the euro and the yen. The euro was trading recently at $1.3203, down from $1.3210 late Wednesday in New York. <br />
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U.S. economic data painted a mixed picture of the economic recovery on Thursday. The Federal Reserve Bank of Philadelphia reported that its index of general business activity in the mid-Atlantic region moved to 24.3 in November, topping economists' forecast, but shipments and hiring slowed. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The U.S. current-account deficit widened in the third quarter, reflecting rising imports of consumer goods. The shortfall rose 3.2% to $127.2 billion, the Commerce Department said Thursday.<br />
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U.S. Stocks opened higher Thursday, as the dollar declined before the market open to below Wednesday's close. Another low volume trading day, under mixed trading patterns is predicted as we move into the option's expiration on Friday and a holiday schedule in both the U.S. and Europe influence the market action.. The Dow is up 34 points, the S&P is up 2 points and Nasdaq is up 4 points at 9:45 EST.<br />
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THURSDAY: U.S. Futures look flat under mixed economic signals.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CARBON TAX LAW APPROVED </span><br />
<i><b>California - the world's eighth largest economy approves first U.S. carbon-trading scheme</b></i><br />
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In the first closely watched carbon tax law to take effect in the U.S., California has set the bar for the future worldwide U.N. carbon tax aimed at every country under its jurisdiction. The program was proposed in the most liberal, environmental cause driven state in the U.S. in hopes that the public would buy-in to the "greenhouse gas emissions" climate scheme.<br />
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State regulators passed a "cap-and-trade" framework to let companies buy and sell permits, giving them an incentive to emit fewer gases. The aim is to create the second-largest market in the field, after Europe's.<br />
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State officials hope the scheme will be copied across the US, but opponents warn it may harm California's growth and lead to higher electricity prices. <br />
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The scheme means that from 2012 California will allocate licences to pollute and create a market where they can be traded. Every business and home owner with a fireplace and utilities will now be taxed on their carbon emissions allowance.<br />
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A company that emits fewer greenhouse gases than its permits allow, could sell the extra capacity to a dirtier firm. Over time the total amount of greenhouse gas emissions - the cap - is to be reduced. Although all firms will eventually need to buy greenhouse gas allowances, most of the permits will be given away in the first three-year period. <br />
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California's Air Resources Board approved the new rules late on Thursday. They are part of a landmark state climate bill passed by the legislature in 2006, which set 1 January 2011 as the deadline for enacting a cap-and-trade system. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NEW CALIFORNIA CARBON TAX LAW</span></div><i><b>California Scheduled To Adopt Cap-And-Trade Rules</b></i><br />
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By Cassandra Sweet<br />
December 16, 2010</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
(Dow Jones)--California regulators are scheduled Thursday to adopt the nation's first large-scale cap-and-trade program for greenhouse-gas emissions as part of the state's four-year-old climate law. <br />
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Under the proposed rules, scheduled to start in 2012, the state Air Resources Board would place a limit, or cap, on greenhouse-gas emissions for the state that would decline over time. Power plants, refineries and other industrial facilities that emit carbon dioxide and can't cut their emissions by the required amount could obtain pollution allowances from the state or buy them from other emitters with excess allowances. <br />
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Companies with facilities that emit carbon dioxide also could purchase carbon credits, or offsets, tied to emission-reduction projects, such as forests that are managed to contain carbon dioxide, to comply with required emission cuts. <br />
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The Air Resources Board plans to vote on a set of proposed final cap-and-trade rules at a meeting Thursday. The meeting comes less than a week after the world's nations reached agreement on a package of climate initiatives at a United Nations-sponsored summit in Cancun, Mexico. It also comes six weeks after a referendum in which Californians voted to keep the state's climate law intact. <br />
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California's Global Warming Solutions Act of 2006 requires the state to cut greenhouse gas emissions to 1990 levels by 2020. In addition to the proposed cap-and-trade program, the state has established an aggressive renewable-energy mandate and a requirement that the carbon content of the state's vehicle fuels be cut by 10% by 2020, as part of efforts to achieve the emissions-reduction goal. <br />
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Under the proposed final cap-and-trade rules, the state would give away most allowances in the first few years of the cap-and-trade program, then sell many allowances in auctions in later years. The proposed rules would establish a floor on the price of allowances sold at auction of $10 per metric ton of carbon dioxide. <br />
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Greenhouse-gas emitters could purchase carbon offsets--which are expected to trade at a discount to emission allowances--to comply with 8% of their annual emission obligations. <br />
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The ARB has said it will consider allowing carbon credits from reforestation projects in Mexico and other countries, among other types of projects. Some carbon market participants say the agency should act quickly to approve more types of projects to avoid a lack of supply of such credits to meet demand.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">420,000 MORE AMERICAN'S LOST THEIR JOBS LAST WEEK</span><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> </span><br />
<i><b>U.S. UNEMPLOYMENT RATE 3.3%</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b></b></i><br />
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The number of U.S. workers filing first-time claims for unemployment benefits was reported as declined last week. <br />
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Applications for jobless insurance payments decreased by 3,000 to 420,000, the lowest in three weeks, Labor Department figures showed today. The total number of people receiving unemployment insurance and those getting extended payments rose.<br />
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Fewer firings signal employers may be gearing up to add to their payrolls and help reduce a jobless rate hovering near a 26-year high. While the economy is gaining momentum heading into 2011, Federal Reserve policy makers said this week it isn’t strong enough to reduce unemployment. <br />
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The number of people continuing to collect jobless benefits rose by 22,000 in the week ended Dec. 4 to 4.14 million. The continuing claims figure does not include the number of workers receiving extended benefits under federal programs. <br />
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The unemployment rate among people eligible for benefits, which tends to track the jobless rate, held at 3.3 percent in the week ended Dec. 4.<br />
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Today’s report showed. Forty-six states and territories reported an increase in claims, while seven had a decrease. Under current legislation, the extension in emergency benefits expired Nov. 30, which the Labor Department has estimated would interrupt aid to 1.36 million before the last week of 2010.<br />
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The U.S. added 39,000 jobs in November, fewer than forecast, while the jobless rate rose to 9.8 percent, the highest since April, the Labor Department reported Dec. 3.<br />
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The Fed’s Open Market Committee said in a statement Dec. 14 following their last meeting of the year that the recovery has been “disappointingly slow.”<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">U.S. HOME MORTGAGE RATES RISE AGAIN</span></div><i><b>30-Year Fixed At 4.83% </b></i><br />
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Mortgage rates rose in the latest week, extending their bounce off record lows they set in the fall, according to Freddie Mac's (FMCC) weekly survey of mortgage rates. Rates have climbed in recent weeks. Yields on Treasurys have jumped sharply recently, and mortgage rates generally track the yields, which move inversely to Treasury prices.<br />
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The 30-year fixed-rate mortgage averaged 4.83% for the week ended Thursday, up from the prior week's 4.61% average but down from 4.94% a year ago. Rates on 15-year fixed-rate mortgages were 4.17%, up from 3.96% in the previous week but down from 4.38% a year earlier. <br />
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Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.77%, up from the prior week's 3.60% but down from 4.37% a year earlier. One-year Treasury-indexed ARMs were 3.35%, up from 3.27% the prior week but down from 4.34% a year earlier. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US NOVEMBER REPORTED HOUSING STARTS</span><br />
Housing starts rise 3.9% in November from October to a seasonally adjusted annual rate of 555,000 on strength in the single-family market. However, building permits, a gauge of future construction, are down 4.0% at 530,000.<br />
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WEDNESDAY: U.S. equities closed lower Wednesday as the Dollar remained near its high. The Dow dropped 19 points today to 11457, the S&P shed 6 points to 1235, and the Nasdaq fell 10 points to 2617.<br />
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The Dow remained in positive territory, while the S&P and Nasdaq declined in afternoon trading as the dollar rebounded to a high intraday high. The dollar rose against the yen and euro for a second day before Wednesday's reports. <br />
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In morning trading, U.S. Stocks rose into positive territory as the dollar relaxed its gains.The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, edged up 0.3%. The euro slipped to $1.3350, from $1.3381 late Tuesday. U.S. stocks edged higher Wednesday despite persisting worries over the euro-zone debt crisis as investors were encouraged by data showing U.S. inflation remains tame while New York manufacturing conditions have improved. <br />
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The Dow Jones Industrial Average rose 29 points, or 0.3%, to 11506, The Nasdaq Composite added 0.4% to 2638. The Standard & Poor's 500 index rose 0.2% to 1243.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">North American Appliance Shipments Rose 3.7% In November </span><br />
The Association of Home Appliance Manufacturers reported that shipments of household appliances such as stoves and refrigerators rose at their fastest clip for four months in North America during November, according to a report published Wednesday. <br />
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The number of appliances aimed at the U.S. market climbed 3.7% to 4.5 million in the four weeks to Nov. 27, led by shipments of stoves, ovens and refrigerators. The Association of Home Appliance Manufacturers, a trade group, said overall shipments are up 3% year-to-date. <br />
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The monthly data includes washers, dryers, dishwashers, refrigerators, freezers, ranges and ovens, and is closely watched as a sign of sales prospects for manufacturers such as Whirlpool Corp. (WHR) and as a leading indicator for housing starts. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US MORTGAGE APPLICATION VOLUME DROPS</span><br />
The volume of mortgage applications filed in the U.S. last week falls a seasonally adjusted 2.3% from the previous week, the Mortgage Bankers Association reports, as mortgage rates rose to their highest levels in six months.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US NAHB HOUSING INDEX UNCHANGED</span></div>U.S. home builders remain gloomy about the housing market in December despite scattered signs of improvement in the economy. The National Association of Home Builders' housing market index holds at 16, matching Street expectations. <br />
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<span style="font-size: large;">Before the Bell:</span><br />
Wednesday's market looks like it will open a little lower.as the dollar's overnight rise lowered commodities, provider's and general market equities.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FOREIGNERS NET BUYERS OF US ASSETS</span> <br />
China's holdings of U.S. assets rose by $23.3 billion to $906.8 billion in October, its largest position in nearly a year, according to the monthly Treasury International Capital report. Overall, foreigners were net buyers of long-term U.S. financial assets.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US Consumer Prices Rise 0.1%, Increase 0.1% </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Excluding Food, Energy Costs </span></b></i><br />
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The cost of living in the US rose less than forecast in November, indicating higher prices for commodities such as fuel aren't filtering through into other goods and services.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">New York Manufacturing Data</span><br />
New York manufacturing activity increased this month after contracting in November, tempered the rally though. The Empire State's business conditions index jumped to 10.57 in December from -11.14 in November.<br />
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<span id="intelliTXT"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. Called Vulnerable to Rare Earth Shortages </span><br />
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The United States is too reliant on China for minerals crucial to new clean energy technologies, making the American economy vulnerable to shortages of materials needed for a range of green products — from compact fluorescent light bulbs to electric cars to giant wind turbines. <br />
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So warns a detailed report to be released on Wednesday morning by the United States Energy Department. The report, which predicts that it could take 15 years to break American dependence on Chinese supplies, calls for the nation to increase research and expand diplomatic contacts to find alternative sources, and to develop ways to recycle the minerals or replace them with other materials. <br />
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At least 96 percent of the most crucial types of the so-called rare earth minerals are now produced in China, and Beijing has wielded various export controls to limit the minerals’ supply to other countries while favoring its own manufacturers that use them. <br />
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“The availability of a number of these materials is at risk due to their location, vulnerability to supply disruptions and lack of suitable substitutes,” the report says, which also mentions some concerns about a few other minerals imported from elsewhere, such as cobalt from the Congo. <br />
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The Energy Department report is being released the same morning that cabinet officials from China and the United States will meet in Washington to discuss economic and commercial issues. <br />
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While no detailed agenda has been released, the talks are expected to include American objections to China’s tightening restrictions on rare earth exports — like a two-month halt this autumn on shipments to Japan, and a shorter-lived slowdown of exports to the United States and Europe. </span><br />
<i>Read the entire article at Yahoo!:</i><br />
<a href="http://finance.yahoo.com/news/US-Called-Vulnerable-to-Rare-nytimes-1596846706.html?x=0&sec=topStories&pos=2&asset=&ccode=">http://finance.yahoo.com/news/US-Called-Vulnerable-to-Rare-nytimes-1596846706.html?x=0&sec=topStories&pos=2&asset=&ccode=</a><br />
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Tuesday US Stocks held some gains after the FOMC statement. U.S. equities closed slightly higher Tuesday: the Dow gained 48 points today to 11476.54, the S&P gained 1 point to close at 1241.59, and the Nasdaq rose 2 points to finish at 2627.72.<br />
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U.S. stocks rose to two-year closing highs Tuesday as the Federal Reserve stuck to its easy-money policy and economic data showed some minor improvements. The Dow touched 11,500 for a short time before closing for the day at 11,476. The Dow pulled back from the two-year intraday high later in the session along with other market measures as investors took profits. <br />
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In morning trading, U.S. stocks climbed Tuesday as investors were encouraged by data showing a bigger-than-expected rise in U.S. retail sales in November while U.S. business sales for October outpaced gains in inventories. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FED TO KEEP RATES LOW</span><br />
<i><b>Funds To Stay Exceptionally Low For Extended Period</b></i><br />
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<i>FOMC Report Summary:</i><br />
The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Information received since the Federal Open Market Committee met in November confirms that the economic recovery is continuing, though at a rate that has been insufficient to bring down unemployment. Household spending is increasing at a moderate pace, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising, though less rapidly than earlier in the year, while investment in nonresidential structures continues to be weak.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Employers remain reluctant to add to payrolls. The housing sector continues to be depressed. Longer-term inflation expectations have remained stable, but measures of underlying inflation have continued to trend downward.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. Currently, the unemployment rate is elevated, and measures of underlying inflation are somewhat low, relative to levels that the Committee judges to be consistent, over the longer run, with its dual mandate. Although the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability, progress toward its objectives has been disappointingly slow.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to continue expanding its holdings of securities as announced in November. The Committee will maintain its existing policy of reinvesting principal payments from its securities holdings. In addition, the Committee intends to purchase $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month.<br />
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The Committee will regularly review the pace of its securities purchases and the overall size of the asset-purchase program in light of incoming information and will adjust the program as needed to best foster maximum employment and price stability. ### <br />
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The Dow Jones Industrial Average rose 66 points, or 0.6%, to 11494. The Nasdaq Composite rose 0.4% to 2636. The Standard & Poor's 500 index added 0.4% to 1245. The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, edged up 0.2%. Treasurys fell, lifting the yield on the 10-year note up to 3.36%. Crude-oil futures slipped while gold futures also declined. <br />
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The Commerce Department reported a 0.8% increase in retail sales for November, topping economists' expectations for a 0.5% rise. Excluding autos, retail sales in November rose 1.2%, topping expectations for a gain of 0.7%. Inventories at U.S. businesses rose less than expected in October as auto dealers and other retailers sold goods faster than they replenished stockrooms. Inventories increased 0.7% from the prior month to a seasonally adjusted $1.418 trillion, the highest level since February 2009, while U.S. business sales rose 1.4% to $1.119 trillion. October's sales figure was the highest since September 2008.<br />
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U.S. producer prices increased more than expected last month, pushed higher by rising energy and food costs. <br />
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<span style="font-size: large;">Opening Bell: </span><br />
US Stocks opened higher in light trading; DJIA Up 30 as the dollar declines, Caterpillar and Disney rise. Tuesday's activity comes as investors await the Federal Open Market Committee's latest policy statement, due at 2:15 p.m. EST. The market isn't expecting any changes in the FOMC's policy direction, but will keep a close eye on the language it uses to assess the economy and how its $600 billion stimulus package is faring so far.<br />
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The Dow Jones Industrial Average rose 30 points, or 0.3%, to 11459. Among its top performers, Walt Disney added 0.7% while Bank of America climbed 0.6% and Caterpillar rose 0.5%. The Nasdaq Composite rose 0.2% to 2630. The Standard & Poor's 500 index added 0.2% to 1243, with its health-care sector in the lead. <br />
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Tuesday, stocks are poised to open flat or lower. Stock index futures were little changed on Tuesday as investors awaited the Federal Reserve's assessment of the economy. U.S. retail sales made small gains last month. The Labor Department reported the Producer Price Report for November that show some gains. The dollar will open lower to flat from Monday's close. The Euro is unchanged and stands at 1.3435.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. INVENTORIES CLIMB </span><br />
Inventories held by U.S. businesses rose for a 10th consecutive month in October. That translates into fewer buyers of existing inventories. This is not a good sign for the businesses that are buying and holding inventories that have access to financing. November Business Inventories print at 0.7%, slightly below expectations of 1.0%, and a reduction from the previous month's 1.3%. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. HOME FORECLOSURES NOT </span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">HELPED BY GOVERNMENT PROGRAM </span> </div><i><b>U.S. Foreclosure Prevention Falling Short, Watchdog Panel Finds</b></i> <br />
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A $75 billion White House program set up to help troubled homeowners is expected to prevent roughly 800,000 foreclosures. Much less than the 3 to 4 million foreclosures that Treasury aimed to stop, and vastly fewer than the 8 to 13 million foreclosures expected to take place this year.<br />
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A U.S. Treasury program aimed at preventing 3 million foreclosures is likely to fulfill less than a third of its goal, a congressional watchdog reported. U.S. Real Estate started finding foreclosed U.S. homes a year ago for Australian investors, received almost half of all inquiries in the last two months.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US PROPOSES NEW BANK CAPITAL STANDARDS</span></div>U.S. regulators propose new minimum capital standards for all financial institutions, mandating that the nation's largest banks will be subject to the same minimum standards for their capital cushions as smaller institutions. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">AUDITOR OVERSIGHT BOARD PROPOSES FEES, INSPECTIONS</span></div>Large U.S. broker-dealers could be required to pay $1 million annually or more for costs related to audits required by the Dodd-Frank Act, if the Public Company Accounting Oversight Board's proposal becomes effective.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. Regulators Review </span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Foreclosure Files At 14 Banks</span></div>Examiners are reviewing samples of borrower foreclosure files from the servicer divisions of sixteen financial institutions including fourteen banks. <br />
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"In reviewing these files, examiners are checking for a documented audit trail that demonstrates that data and information in foreclosure affidavits and claims are accurate and comply with state laws," said acting Comptroller of the Currency John Walsh in a letter to the Democrats obtained by MarketWatch. <br />
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Walsh was responding to a letter sent by Rep. Brad Miller of North Carolina and nine other Democrats in November urging the counsel to request the files to determine if the documents satisfy contractual representations and warranties for the mortgages in question, and if not, any potential liability that may result.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. INFLATION RAISING</span><br />
Wholesale prices outside the volatile food and energy categories rose modestly last month due to a large increase in the cost of new cars.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">RETAIL SALES INCREASE</span><br />
<i><b>Retail purchases rose for a fifth consecutive month in November.</b></i><br />
US retail sales rose in November for the fifth consecutive month, official figures show, driven by holiday season demand.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">AIRLINES MAKING MONEY FROM EMERGING MARKETS</span><br />
<i><b>World's 5 biggest airlines now from Asia, Latin America </b></i><br />
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The world's five biggest airlines now hail from Asia and Latin America, highlighting the industry's shift away from the U.S. and Europe to higher-growth countries, the International Air Transport Association said Tuesday. The International Air Transport Association says airlines will make record earnings this year, but that margins remain tight. <br />
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MONDAY: In late trading Monday, a broad sell-off hit the market. The day ended in a mixed, low volume, choppy selling mode with minor gains seen in the Dow and S&P sectors. U.S. equities closed with the Dow rising 18 points today to 11428.56, the S&P was unchanged at 1240.06, and the Nasdaq fell 12.63 points to 2624.91. <br />
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In early Monday trading U.S. stocks registered broad gains on low volume Monday amid some M&A announcements and a declining dollar. <br />
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The Dow Jones Industrial Average rose 43 points to 11,450, the Nasdaq Composite added 0.7 points to 2644 and the Standard & Poor's 500 index gained 0.4% to 1246, led by energy and materials stocks.The dollar edged lower, with the U.S. Dollar Index, tracking the U.S. currency against a basket of six others, off 0.6%.The euro firmed up 0.0188 at 1.3414.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">. <br />
U.S. Stock futures are pointing to a higher open Monday as the dollar declined from Friday's close. Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were all up modestly ahead of the opening bell.<br />
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Monday morning, the dollar declined against a basket of major currencies causing commodities and equities to rise before the bell. The euro remains under pressure against the dollar. It was down to $1.3211 on Monday. World markets rose Monday after Chinese authorities refrained from raising interest rates over the weekend and said they favored a strong growth policy despite high inflation. <br />
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U.S. stocks edged up at the close as the dollar relaxed its gains Friday. The U.S. trade deficit narrowed and a surge in U.S. October exports and brightening consumer sentiment and encouraged investors. Stocks rose modestly Friday the Dow added 40 points today to 11410, the S&P gained 6.85 points to 1239.85, and the Nasdaq rallied 20 points to 2637. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CRUDE OIL:</span><br />
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<b>FRIDAY:</b> <b>U.S. Crude Oil: $88.01 per barrel</b><br />
FRIDAY'S OIL FUTURES: Nymex Crude Settles 32c Higher At $88.02/Bbl <br />
THURSDAY'S OIL FUTURES: Nymex Crude Settles Down 92c at $87.70 <br />
WEDNESDAY'S OIL FUTURES: Nymex Crude Settles 34c Higher At $88.62/Bbl <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Oil Prices Higher Friday </span><br />
Oil prices edged higher Friday, bucking a stronger dollar as traders focused on signs of an improving U.S. economy.<br />
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Crude oil futures finished higher Friday, as signs of economic improvement helped boost the case for pricier oil. <br />
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Light, sweet crude for January delivery settled up 32 cents, or 0.4%, at $88.02 a barrel on the New York Mercantile Exchange. Prices earlier fell as low as $87.01 in morning trading in New York. Brent crude on the ICE futures exchange settled up 7 cents, or 0.1%, at $91.67 a barrel. <br />
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Front-month January reformulated gasoline blendstock, or RBOB, recently settled up 1.35 cents, or 0.6%, at $2.3178 a gallon. January heating oil fell 0.26 cent, or 0.1%, at $2.4737 a gallon. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Crude Jumps On Drop In US Oil Stockpiles</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Department of Energy Reported a large drop in oil stockpiles. <br />
DOE: US Crude Oil Stocks -9.854M Bbl In Wk; Seen -2.7M Bbl</div><div style="font-family: Arial,Helvetica,sans-serif;">US Crude Oil Stocks -9.854 Mln Bbl At 346.018 Mln Bbl</div><div style="font-family: Arial,Helvetica,sans-serif;">US Gasoline Stocks +0.809 Mln Bbl At 214.773 Mln Bbl</div><div style="font-family: Arial,Helvetica,sans-serif;">US Distillate Stocks +1.094 Mln Bbl At 161.305 Mln Bbl </div><span style="font-family: Arial,Helvetica,sans-serif;">US Distillate Stocks +1.094M Bbl In Wk; Seen -0.2M Bbl</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">US Refineries Ran At 88.0%; Seen 87.20%<br />
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U.S. crude inventories posted their biggest draw last week since September 2002, according to data released Wednesday by the U.S. Department of Energy. <br />
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Crude oil stockpiles fell by 9.9 million barrels to 346.0 million barrels for the week ended Dec. 10, compared with an average survey estimate of a 2.7-million-barrel decline. On Tuesday afternoon, the American Petroleum Institute, an industry group, reported a that stocks fell by 1.4 million barrels. <br />
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Investors reacted positively to the news. Crude oil futures for January rose by 0.7% to $88.91 a barrel on the New York Mercantile Exchange. January contracts for gasoline were recently up 0.6% to $2.3085 a gallon and heating oil was up 0.9% at $2.4900 a gallon. <br />
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The large decline in crude stocks last week was aided by a 1.4% drop in imports. Even so, oil inventories remain well above the range typically seen this time of the year. Meanwhile, similar supply overhang persists for refined products as well. <br />
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Gasoline stockpiles rose by 809,000 barrels to 214.8 million barrels, the department's Energy Information Administration said in its weekly report, shy of the forecast of a 1.9-million barrel increase based on a Dow Jones Newswires survey of 15 analysts. <br />
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Distillate stocks, which include heating oil and diesel fuel, added 1.1 million barrels to 161.3 million barrels versus analysts' estimate calling for a decline of 200,000 barrels. <br />
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Refining capacity utilization rose by 0.5 percentage point to 88.0%. Analysts had expected a 0.3-percentage-point drop. <br />
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Tuesday, API reported that gasoline inventories fell by 2.4 million barrels and distillate stocks fell by nearly 2 million barrels.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Light, sweet crude for January delivery recently traded 88 cents, or 1%, lower at $87.40 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded down 55 cents at $90.66 a barrel. <br />
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The U.S. Department of Energy is due to report weekly oil inventories data at 10:30 a.m. EST Wednesday. Crude stockpiles are expected to fall by 2.7 million barrels, according to a Dow Jones Newswires survey. But gasoline stockpiles are seen rising by 1.9 million barrels. <br />
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Distillates, which include heating oil and diesel, are seen falling by 200,000 barrels. <br />
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The increase in gasoline stockpiles follows a weak report on gasoline demand on Tuesday from MasterCard Advisors. U.S. weekly demand fell 1.3% from a year ago, while gasoline use has grown by a slim 0.4% this year.<br />
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TUESDAY OIL FUTURES: Nymex Crude Settles 33c Lower At $88.28/Bbl<br />
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Crude futures settled slightly lower Tuesday, held down in part by a report on weak U.S. gasoline demand, as traders remain wary of pushing toward the key $90-a-barrel level. <br />
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Light, sweet crude for January delivery settled down 33 cents, or 0.4%, at $88.28 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange settled 2 cents higher at $91.21 a barrel. <br />
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Oil prices retreated from nearly flat after a report showed U.S. gasoline demand fell 2.7% last week, from the prior weekend that included the post-Thanksgiving weekend shopping period. Demand was down 1.3% from a year ago, according to the SpendingPulse report compiled by MasterCard Advisors, which sent gasoline futures lower. <br />
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Front-month January reformulated gasoline blend-stock, or RBOB, settled down 2.20 cents, or 1%, at $2.2964 a gallon. <br />
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MONDAY OIL FUTURES: Nymex Crude Closes Up 81c At $88.60/Bbl<br />
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Light, sweet crude for January delivery recently traded 43 cents, or 0.5%, higher at $88.22 a barrel on the New York Mercantile Exchange. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
OPEC ministers meeting in Quito, Ecuador, over the weekend left oil-production quotas intact at 24.85 million barrels a day, though the cartel actually produces slightly more than that level. Saudi Arabia oil minister Ali Naimi, OPEC's de facto leader, said the market is in balance. <br />
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FRIDAY'S OIL FUTURES: Nymex Crude Settles 58c Lower At $87.79/Bbl <br />
Oil prices held steady Friday, as markets shrugged off China's move to raise its banks' reserve requirements and awaited a decision due this weekend on interest rates. <br />
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Light, sweet crude for January delivery fell 2 cents at $88.35 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange added 12 cents, or 0.1%, at $91.11 a barrel. <br />
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Front-month January reformulated gasoline blend-stock, or RBOB, recently fell 0.98 cent, or 0.4%, to $2.3307 a gallon. RBOB's retreat comes a day after an outage at a key gasoline-making unit at the Hovensa refinery in St. Croix sent gasoline futures soaring. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NATURAL GAS:</span><br />
<b>THURSDAY: Natural Gas: $ 4.07</b><br />
THURSDAY'S US GAS: Futures Settle Down 4.1% At $4.048/MMBtu<br />
WEDNESDAY'S US GAS: Futures Close Down 0.8% At $4.220/MMBtu <br />
TUESDAY'S US GAS: Futures Settle Down 3.7% $4.255/MMBtu <br />
MONDAY'S US GAS: Futures Close Up 0.1% $4.421/MMBtu<br />
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<b>THURSDAY:</b> Natural gas futures extended their earlier losses Thursday after a weekly government storage report reinforced the view that gas stockpiles will be ample to meet winter's heating needs. Natural gas in U.S. storage for the week ended Dec. 10 stood at 3.561 trillion cubic feet, 9.9% above the five-year average. The storage build was more than the five-year average withdrawal for the week of 153 bcf, but less than last year's 186-bcf draw. <br />
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Natural gas for January delivery recently traded 14.5 cents lower, or 3.4%, at $4.077 a million British thermal units on the New York Mercantile Exchange. Futures fell as low as $4.063/MMBtu after the report, the lowest intraday price since Nov. 19. Natural gas futures slid Thursday as expectations of a larger-than-average weekly draw from gas stockpiles weren't enough to support prices in the well-supplied U.S. market. <br />
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Natural gas for January delivery recently traded 5.3 cents, or 1.3%, lower at $4.169 a million British thermal units on the New York Mercantile Exchange. The benchmark contract Wednesday settled at its lowest level since Nov. 30, as warming forecasts for some major heating markets near the end of the month hit demand expectations for the fuel. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PRECIOUS METALS: </span><br />
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<b>FRIDAY:</b> <b>Gold: $ 1,377</b><br />
<b>FRIDAY:</b> <b>Silver:$ 29.20</b><br />
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FRIDAY: Gold futures rose Friday afternoon as the dollar relaxed its earlier gains. Thinly traded nearby gold, for December delivery, gained $8.20, or 0.6%, to settle at $1,378.60 a troy ounce on the Comex division of the New York Mercantile Exchange. The most-actively traded contract, for February delivery also gained 0.6%, to $1,379.20. <br />
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Gold pulls back in the morning as US Dollar gains ground in early market trading.The most actively traded contract, for February delivery, recently was down $2.90, or 0.2%, at $1,368.10 a troy ounce on the Comex division of the New York Mercantile Exchange. <br />
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Engelhard Corp's base price for industrial gold bullion was $1371.48 per troy ounce, up $5.51 from previous. It's selling price for gold in fabricated form was $1474.34, up $5.93.<br />
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Handy & Harman's base price for gold was $1368.50 per troy ounce, up $5.50. The fabricated form price was $1477.98, up $5.94.<br />
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THURSDAY: Gold futures fell were trading down most of today.The contract continued to see selling pressure as investors booked gains ahead of the end of the year. The most actively traded contract, for February delivery, settled down 1.1%, or $15.20, at $1,371 a troy ounce on the Comex division of the New York Mercantile Exchange.<br />
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<b>Thursday's Settlements (Range includes Floor and Electronic Trading):</b><br />
London PM Gold Fix: $1,3763.00; previous PM $1,388.75<br />
Feb gold $1,371.00, down $15.20; Range $1,361.60-$1,387.30<br />
Mar silver $28.782, down 4.71 cents; Range $28.350-$29.255<br />
Jan platinum $1,698.60, down $5.80; Range $1,686.50-$1,707.30<br />
Mar palladium $742.55, down $10.10; Range $730.00-$758.00<br />
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In early morning trades the Comex gold futures trended lower Thursday as traders lock in profits ahead of the new year.Gold futures continue to see selling pressure as investors book gains ahead of the end of the year. <br />
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The most actively traded contract, for February delivery, was recently down $14.30, or 1%, at $1,371.90 per troy ounce on the Comex division of the New York Mercantile Exchange<br />
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Engelhard Corp's base price for industrial gold bullion was $1365.97 per troy ounce, down $25.79 from previous. It's selling price for gold in fabricated form was $1468.41, down $27.73.<br />
Handy & Harman's base price for gold was $1363.00 per troy ounce, down $25.75. The fabricated form price was $1472.04, down $27.81. <br />
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WEDNESDAY<b>:</b> The most actively traded contract, for February delivery, settled down 1.3%, or $18.10, at $1,386.20 a troy ounce on the Comex division of the New York Mercantile Exchange. <br />
<b>Wednesday Settlements (<i>Range includes Floor and Electronic Trading</i>):</b><br />
London PM Gold Fix: $1,388.75; previous PM $1,394.50<br />
Feb gold $1,386.20, down $18.10; Range $1,382.30-$1,398.00<br />
Mar silver $29.253, down 5.35 cents; Range $28.925-$29.645<br />
Jan platinum $1,704.40, down $9.50; Range $1,690.00-$1,711.40<br />
Mar palladium $752.65, down $15.55; Range $741.10-$763.05 <br />
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Wednesday's Engelhard Corp's base price for industrial gold bullion was $1391.76 per troy ounce, down $5.76 from previous. It's selling price for gold in fabricated form was $1496.14, down $6.19. Handy & Harman's base price for gold was $1388.75 per troy ounce, down $5.75. The fabricated form price was $1499.85, down $6.21. <br />
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TUESDAY: Comex Gold Edges. Gold futures settled in positive territory Tuesday, and rose slightly in after-market trade as the Federal Reserve's interest-rate setting committee said it will maintain current monetary-easing policies.Gold futures made modest gains in after-market trade as the Federal Open Market Committee announced no change to monetary policy Tuesday afternoon. The contract gained 0.5%, or $7.10, to $1,405.10 per troy ounce in electronic trading. <br />
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Monday, in late afternoon trades, the most actively traded contract, for February delivery, settled up 0.5%, or $6.30, at $1,404.30 per troy ounce on the Comex division of the New York Mercantile Exchange. <br />
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In early morning trading Monday the most actively traded contract, for February delivery, settled up $13.10, or 1% higher, at $1,398.00 per troy ounce on the Comex division of the New York Mercantile Exchange. <br />
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Copper Sets New Settlement Record At $4.2070 <br />
<b>Monday's Settlements (Range includes Floor and Electronic trading):</b><br />
London PM Gold Fix: $1,375.25; previous PM $1,391.25<br />
Feb gold $1,398.00, up $13.10; Range $1,380.80-$1,400.20<br />
Mar silver $29.624, up $1.019 cents; Range $28.495-$29.740<br />
Jan platinum $1,697.30, up $22; Range $1,671.60-$1,704.30<br />
Mar palladium $752.45, up $19.75; Range $734.50-$765.85<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS:</span><br />
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<b>FRIDAY:</b> Treasurys rallied Friday, supported by flight-to-safety demand and bargain hunting from the recent sell-off. Earlier demand for U.S. Treasurys was mixed, with the two-year note flat, but the 10-year note up, pushing its yield to 3.40%.<br />
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Bonds extended Thursday's gains, a relief for a market that has been hammered over the past week. The benchmark 10-year note's yield, which moves inversely to its price, has fallen by about 24 basis points from the seven-month peak of 3.568% hit Thursday. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">As of 4 p.m. EST, the 10-year note was 28/32 higher to yield 3.326%, little changed from 3.333% at the end of last week. <br />
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The 30-year bond was 1 31/32 higher to yield 4.419% while the two-year note was 3/32 higher to yield 0.605%. </div><div style="font-family: Arial,Helvetica,sans-serif;">U.S. two-year swap spread, which measures the differential between the two-year swap rate and two-year Treasury yield and a main gauge of credit risks, was 1 basis point tighter at 23 basis points. The 10-year swap spread was 2 basis points tighter at 9.75 basis points.</div><div style="font-family: Arial,Helvetica,sans-serif;">COUPON ISSUE PRICE CHANGE YIELD CHANGE<br />
============================================== </div><div style="font-family: Arial,Helvetica,sans-serif;">1/2% 2-year 99 25/32 up 3/32 0.605% -4.4BP<br />
3/4% 3-Year 99 9/32 up 5/32 0.990% -5.8BP<br />
1 3/8% 5-year 97 10/32 up 13/32 1.948% -8.8BP<br />
2 1/4% 7-Year 97 9/32 up 22/32 2.682% -11.0BP<br />
2 5/8% 10-year 94 5/32 up 28/32 3.326% -10.8BP<br />
4 1/4% 30-year 97 6/32 up 1 31/32 4.419% -12.4BP</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
2-10-Yr Yield Spread: +272 BPS Vs + 279 BPS<br />
Source: Tradeweb <br />
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THURSDAY: Demand for U.S. Treasurys fell, pushing the yield on the 10-year note up to 3.54%. <br />
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WEDNESDAY: Treasury prices were modestly higher after a report that showed inflation in the US remains tame. Most Treasurys clung to modest gains Wednesday in volatile trading after a report that showed inflation remains subdued. <br />
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The market was also a bit stronger after another Federal Reserve purchase of Treasurys. The Fed bought $6.78 billion of Treasurys maturing in the next four to six years after getting offers for $13.114 billion.<br />
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In recent trading, the 10-year note was up 5/32 to yield 3.451% and the seven-year was up 8/32 to yield 2.792%. The two-year was up 1/32 to yield 0.637%. The 30-year, however, was weaker, off 16/32 to yield 4.555%. Overnight, Treasury yields hit highs that were last seen in May, with the 10-year yield pushing as high as 3.504%. <br />
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TUESDAY:<b> </b>Treasurys fell Tuesday as a U.S. retail sales report painted a brighter picture of the economy, dimming the allure of relatively safe assets. The benchmark 10-year note's yield touched 3.494%, the highest level since 3.5% on May 18. The 30-year bond was 1 22/32 lower to yield 4.519%. Bond prices move inversely to their yields.<br />
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Treasurys sank Tuesday and key interest rates jumped to seven-month highs on a strong retail sales report and firm commitment from the Federal Reserve to support the economy. <br />
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The bond market added to the heavy losses from the past week as optimism on the economic outlook is driving many investors into riskier assets for higher returns.<br />
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Bonds also weakened as the producer prices index, a gauge of inflation at wholesales levels, rose more than economists' forecasts and posted the biggest gain since March. Inflation is the main threat to bonds' fixed returns over time, especially long-dated securities. <br />
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MONDAY: Selling pressure on 10-year U.S. Treasuries drove yields to fresh six-month highs on Monday as investors threatened to undo this year's bond rally on signs of global economic recovery and deeper U.S. deficits. Monday's selling appeared to be spreading to short-term U.S. papers, suggesting investors are also pricing in raised expectations of higher interest rates next year.The two-year note was yielding 0.67 percent, up three basis points.<span class="status-body"><span class="status-content"><span class="entry-content">Five year Treasury yield prints 2% The recent rise in the 10-year yield has been due to higher inflation expectation. </span></span></span> <br />
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Treasurys took another fall Friday after the government reported the budget deficit expanded last month. The Federal Reserve Bank of New York said Friday it will buy $105 billion in Treasury debt over the coming month.<br />
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<b>FRIDAY, DEC. 17, 2010; 4:00 PM EST:</b><br />
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3 Month 0.08% -0.02 (-20.00%)<br />
6 Month 0.16% -0.01 (-5.88%)<br />
2 Year 0.61% -0.04 (-6.15%)<br />
5 Year 1.96% -0.05 (-2.49%)<br />
10 Year 3.33% -0.07 (-2.06%)<br />
30 Year 4.43% -0.08 (-1.77%)<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. EQUITY NEWS:</span></div><b>THURSDAY:</b><br />
FedEx rose 1.9%, after the international package shipper raised its full-year forecast and said it is more optimistic about the global economy. The international package shipper reported an 18% decline in fiscal second-quarter profit. Shares of Rite Aid fell 1.3% after the drug-store chain saw revenue decline. Alcoa led the measure's gains, rising 2.7%. Bank of America was also strong, adding 2.2%, following reports that it has begun potential settlement discussions with some of its largest mortgage investors. <br />
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General Mills slipped 0.5% after its fiscal second-quarter profit rose 8.6% on fewer restructuring charges and a tax benefit, but sales were stung by more promotions. Margins fell from year-earlier levels because of higher commodity costs. <br />
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We saw a 0.5% drop in American Express after the company said it will acquire Loyalty Partner, a marketing firm. Procter & Gamble was also weak, sliding 0.6% after confirming its outlook for the current quarter and the 2011 fiscal year.<br />
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Home-furnishings retailer Pier 1 Imports tumbled 4.6% after its fiscal third-quarter earnings fell 45% absent a prior-year tax benefit as the company in the latest quarter continued to see higher sales and margins. <br />
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Energy stocks lagged Thursday after the U.S. Justice Department late Wednesday filed a civil oil-spill lawsuit against Transocean, which owned and operated the Deepwater Horizon oil rig, Anadarko Petroleum and oil giant BP. Transocean shares fell 2.8%, while Anadarko sank 2.9% and U.S.-listed shares of BP slipped 0.3%.<br />
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TUESDAY:Cisco Systems climbed 1.2%, Boeing added 1.1% and Travelers advanced 1.1%. Hasbro rising 2.1%, Abercrombie & Fitch advancing 1% and TJX Cos. up 0.9%. Best Buy tumbled 15% after the company issued a dour report for the quarter ended Nov. 27, which included Black Friday. Coca-Cola raises its expectations for cost synergies it will realize in 2011 to $140 million-$150 million, due to the recently completed acquisition of the North American operations of its largest bottler. <br />
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Best Buy's same-store sales fell 3.3% in the quarter, including a 5% drop in the U.S. Its earnings came in well below analysts' estimates as revenue unexpectedly fell. The consumer electronics retailer also cut its earnings view for the year.Yahoo Inc plans to lay off more than 600 employees as early as Tuesday. General Motors to force retirement on costly experienced workers. The automaker, said it will offer early-retirement packages worth $60,000 each to about 2,000 skilled-trades workers at 14 U.S. plants. <br />
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MONDAY: Caterpillar was the blue-chip index's best performer Monday as it rose 1.5%, while Walt Disney gained 1.4% and Pfizer jumped 1.4%.General Electric shares slipped 0.6% after the conglomerate announced it will offer $1.3 billion for Wellstream Holdings, a maker of flexible pipeline products for the oil and gas industry. The move fits with GE's strategy to expand its industrial businesses with acquisitions. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">GE to buy Wellstream for $1.3 billion</span><br />
<i><b>GE BETS ON DEEP WATER OIL GROWTH WITH $1.3B WELLSTREAM BID </b></i><br />
US conglomerate GE says it is buying British oil and gas services group Wellstream Holdings PLC for 800 million pounds ($1.3 billion) <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Dell Reaches Deal for Compellent</span><br />
Dell Inc., which said last week it was in exclusive talks to buy Compellent Technologies Inc., has agreed to buy the data-storage company for $960 million..<br />
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Thermo Fisher Scientific agreed to acquire Dionex for $2.1 billion, expanding its presence in markets such as environmental analysis, water testing and food safety. Thermo Fisher shares rose 4%, while Dionex surged 20%. <br />
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Huntington Bancshares said it plans to offer $920 million in common stock and offer $300 million in debt to help repay the $1.4 billion it received under the Treasury's Troubled Asset Relief Program. Shares dropped 5.6%. <br />
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W.W. Grainger said daily sales surged 14% in November, continuing a rebound from last year's weakness.<br />
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Aviation-parts supplier TransDigm Group gave an upbeat revenue forecast for its current fiscal year as the aerospace market continues to show signs of stabilizing. Its stock edged up 0.1%.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CAPITAL SHOPPING REJECTS FINANCING FROM SIMON PROPERTY</span><br />
Shopping-center-owner Capital Shopping Centres rejects a proposal from U.S. mall giant Simon Property Group to finance CSC's purchase of a massive mall in Manchester, England, in return for a sizable equity stake in the company.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">SANOFI EXTENDS GENZYME OFFER UNTIL JAN 21</span><br />
French drugs giant Sanofi-Aventis says it has extended its $18.5 billion offer for Genzyme for more than a month without changing the terms, and that 0.9% of shares had been tendered so far. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. BANKRUPTCY FILINGS MAY SUBSIDE</span><br />
The total number of businesses declaring bankruptcy is on pace to decline in 2010 for the first time in four years, as fewer companies sought court protection from their creditors in November compared to the prior month.<br />
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According to new data released by Epiq Systems Inc. (EPIQ), 6,578 businesses declared bankruptcy last month, a 0.4% decline from October and the fourth consecutive month when commercial filings fell or held steady form the previous month.<br />
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A&P, the grocery-store chain with roots going back to the 1800s, is preparing to file for Chapter 11 bankruptcy-protection as soon at this weekend, said a person familiar with the matter. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FORECLOSURE FILINGS TO START AGAIN</span> <br />
Bank of America Corp. said it restarted about 16,000 foreclosure cases across the U.S. on Monday, but it may be weeks before it is known whether the bank's submission of new documents will pass with local judges who have seen falsified documents and halted filings throughout the U.S..<br />
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The bank instructed its foreclosure attorneys this week to prepare new affidavits in 7,800 cases where court approval is required to foreclose on a home, out of a total of 102,000 frozen by the bank amid documentation concerns. In states where no court approval is required, attorneys were asked to lift the hold on 8,000 delayed foreclosure sales out of 30,000.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">$150.4 Billion U.S. Budget Deficit </span><br />
The U.S. government ran its 26th straight monthly budget deficit in November amid wrangling over a package that would extend big tax cuts to Americans trying to recover from recession.<br />
The Treasury Department, in its regular budget monthly statement, said the government spent $150.4 billion than it collected in the second month of fiscal 2011.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">JUDGE SIDES WITH VIRGINIA TO</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHALLENGE FORCED HEALTH CARE LAW</span><br />
<i><b>US Justice Dept To Appeal Ruling Against Healthcare Law </b></i><br />
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A federal district judge sides with the state of Virginia and rules that Congress exceeded its "constitutional boundaries" when it required most Americans to carry health insurance or pay a fine. The centerpiece of the Obama health care legislation was a provision that required everyone to buy health insurance, or be fined.The idea behind that socialist provision, which I always thought unconstitutional, was to force those in their 20's and 30's to buy health care.<br />
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The Obama administration said Tuesday it would appeal against a federal judge's ruling that a key provision of the landmark health-care reform law was unconstitutional. "We intend to appeal the district court's ruling in Virginia to the Fourth Circuit Court of Appeals," a spokesman for the Department of Justice told AFP. <br />
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Judge Henry Hudson of the Eastern District Court in Richmond, Virginia, found on Monday that the new law's mandate that Americans must buy insurance or pay a fine goes beyond federal authority. He ruled that it also violated the commerce clause, a key component of the Constitution. <br />
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The Department of Justice spokesman said the Virginia "suit is based on a state statute that is not applicable nationwide. "The department believes this case should follow the ordinary course of allowing the courts of appeals to hear it first so the issues and arguments can be fully developed before the Supreme Court decides whether to consider it." <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Our Week Ahead</span></div>Friday is the final option expiration day this year. Stocks have rallied up to maximize profit opportunities the past two weeks, but other market risks may preclude that from happening this week. There is market and currency risk and Euro-based volatility potential this week.<br />
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<span id="intelliTxt">Banks total exposure to Ireland and the southern rim of the euro zone in the second was greater than previously thought, according to data from the Bank for International Settlements published Sunday.<br />
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The data confirm that German and French banks are among the word's largest creditors to the region. France's total exposure to Greece stood at $83.1 billion at the end of the second quarter, comprising $57.3 billion in foreign claims and $25.7 billion in "other exposure," or the positive market value of derivative contracts, guarantees extended and credit commitments. <br />
The BIS data on banks' "other exposure" hadn't been previously published, resulting in a greater exposure than previously estimated.<br />
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German banks total exposure to Greece stood at $65.4 billion, mirroring $36.8 billion in foreign claims and $28.6 billion in other exposure.With a total exposure of $186.4 billion, German banks had the second-largest exposure to Ireland, right after the U.K., where banks' exposure amounted to $187.5 at the end of the second quarter.<br />
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<span id="intelliTxt"> The BIS's data illustrate how costly it would be if struggling Greece or Ireland were forced to restructure their debts as part of a bailout, as some commentators had argued. Both countries required a bailout because of a crippling debt crisis.<br />
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With a total exposure of $98.3 billion, Spanish banks had the largest exposure to Portugal. <br />
German banks topped the list of Spanish creditors, with a total exposure of $216.6 billion; French banks' total exposure to Spain stood at $201.3 billion.<br />
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BIS said the total consolidated foreign exposures of BIS-reporting banks to Greece, Ireland, Portugal and Spain stood at $2.281 trillion. At $1.613 trillion, foreign claims represented slightly over 70% of that amount. </span><br />
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The S&P 500 broke resistance at 1225, indicating a primary advance with a long-term target of 1425. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://finviz.com/chart.ashx?t=UUP&ty=c&ta=1&p=d&s=l" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="155" src="http://finviz.com/chart.ashx?t=UUP&ty=c&ta=1&p=d&s=l" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-size: small;"><b><span style="font-family: Arial,Helvetica,sans-serif;">US DOLLAR ETF UUP</span></b></span></td></tr>
</tbody></table><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The US Dollar Index is testing support level at 79 after breaking below its rising trendline. If the dollar rallies to the 83.50 range before the end of the year, commodities and market prices would become extremely volatile in the U.S. and abroad.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Gold retraced to test short-term support at $1380 breaking below its trendline. Silver appears stronger, testing the new support level at 28 after breaking the $30 mark. Bearish divergence on (21-day) warns of a possible correction ahead.<br />
Attention also turns to the coming week of potentially market-moving event risk, with the US Federal Open Market Committee decision and inflation data likely to cause ripples across global financial markets in the week ahead.<br />
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Markets expect that the U.S. Federal Reserve will leave monetary policy unchanged through their upcoming decision, but it will be equally important to monitor for any shifts, no matter how subtle, in official rhetoric. The subsequent days of Consumer and Producer Price Index and inflation data will likewise taken on renewed importance as the Fed continues to monetizes debt through their controversial Quantitative Easing policies.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Market:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Shares Mixed to Higher Friday</span><br />
Toronto stocks closed higher Friday, for the first time in four days, led by Research In Motion after the BlackBerry maker offered an unexpectedly upbeat outlook for the fourth quarter. A rebound in resource stocks after profit-taking this week also helped offset slumping financials. <br />
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The S&P/TSX Composite Index rose 20.23 points, or 0.2%, to 13201.46. Advances exceeded declines, 978 to 675. Trading volume was high, 741.3 million shares, up from Thursday's total of 552.2 million shares. The S&P/TSX 60 Index closed up 1.05 points, or 0.1%, to 754.22. <br />
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MOST ACTIVE EQUITIES </div><div style="font-family: Arial,Helvetica,sans-serif;">Bank of Montreal 13,753,423 58.00 off 4.05<br />
Dension Mines 12,945,610 3.24 up 0.04<br />
Semafo Inc. 11,414,401 11.65 up 0.83<br />
Air Canada B 11,269,533 3.51 off 0.19<br />
Kinross Gold 9,879,924 18.70 up 0.29<br />
Capstone Mining 9,785,014 4.65 up 0.13<br />
Questerre Energy 9,505,508 1.42 up 0.02<br />
Manulife Financial 9,392,890 16.96 off 0.02<br />
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The market was mixed at midday Friday, partially weighed down by weakness in Bank of Montreal after the country's fourth-largest bank by assets agreed to acquire Milwaukee, Wis.-based lender Marshall & Ilsley for stock in a deal valued at US$4.1 billion. <br />
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At Noon Friday the S&P/TSX Composite Index was down 22.50 points, or 0.17%, at 13158.73 but advances led declines 703 to 673. Trading volume was 277.40 million shares. The S&P/TSX 60 Index was down 2.12 points, or 0.28%, to 751.05 points. <br />
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RIM Shares of Research In Motion Ltd. (RIMM) climbed 2.6% Friday after strong 3Q and a good 4Q outlook. Paladin Energy (PDN.T) announced it will buy Uranium Assets from Fronteer Gold. Bank Of Montreal (BMO) to buy Marshall & Ilsley in a $4.1B deal.<br />
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Bank of Montreal, Canada's fourth-largest bank in assets, is buying Marshall & Ilsley in a share swap valued at US$4.1 billion, making a long-anticipated move to expand its operations in the U.S. Marshall & Ilsley shares jump 19%.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canada's October Budget Deficit Indreased To C$4.1B</span><br />
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The Canadian government's budget deficit was higher in October than in the same month last year as program spending grew at a faster rate than revenue, which declined due to lower receipts from corporate and sales taxes, the finance department said Friday. <br />
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The deficit widened to C$4.11 billion (US$4.09 billion) from C$3.30 billion in October 2009, the department said in its monthly Fiscal Monitor. However, the shortfall for April through October narrowed to C$21.5 billion from C$31.9 billion in the year-ago period as revenues rose and program spending shrank. <br />
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The government has forecast the gap to narrow to C$45.4 billion in 2010/11 after a record C$55.6 billion shortfall in 2009/10. The federal budget update in October forecast the deficit to be eliminated in 2015/16, when the government expects to post a C$2.6 billion surplus after seven consecutive deficits. <br />
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In October, program spending rose 4.4% year-on-year to C$19.2 billion while revenues edged up 0.4% to C$17.6 billion. Program spending in April through October fell 2.2% to C$131.4 billion and revenues were up 6.6% to C$127.7 billion. <br />
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Website <a href="http://www.fin.gc.ca/">http://www.fin.gc.ca</a> <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">THURSDAY'S STOCKS DECLINE</span><br />
The stock market was lower all day Thursday, as gold, base metal and energy producers retreated on weaker commodity prices. The TSX Composite closed at 13181.23 off 47.84 points or 0.4% for the day. <br />
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At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was down 82.98 points, or 0.6%, at 13146.09. Declines led advances, 841 to 557. Trading volume was 258.6 million shares. The S&P/TSX 60 Index was down 5.11 points, or 0.7%, to 750.47.TSX Venture Exchange stood at 2,097.32, down 3.62 points at noon on Thursday. The Canada Dollar trades lower against the greenback . The U.S. dollar was at C$1.0059 at 3:20 p.m. EST (2020 GMT) Thursday <br />
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In early morning trades the Toronto composite declined to 13150.41 off 79.45. The TSX Venture Exchange opened on Thursday at 2,100.01, down 0.93 of a point.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canada PM Says Pooled Pension Plans</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">"Extremely Positive"</span><br />
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The Canadian government Thursday unveiled a proposal for pooled pension plans that it says would help those who don't have pensions to save for retirement. Canadian Prime Minister Stephen Harper Thursday described a government proposal for pooled pension plans as an "extremely positive development." <br />
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Speaking during question period in the House of Commons, Harper said there are discussions between the federal government and the provinces on the proposal. <br />
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"This is a vehicle that a lot of small business owners are interested in, that the provinces I know are interested in exploring,' he said. "And I think this is an extremely positive development for all who are concerned about the future of the Canadian retirement income system." <br />
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Jack Layton, leader of the left-leaning opposition New Democratic Party said the deal is "great for the captains of finance but it's a bad deal for Canadians who are trying to save for their retirement." <br />
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Earlier, Finance Minister Jim Flaherty said in a letter sent to provincial counterparts and released to reporters, he hopes provincial counterparts will agree on a framework for the new plan at their Dec. 19-20 meeting in Kananaskis, Alta.<br />
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Flaherty said this would improve the range of retirement savings options available to Canadians. It would also provide low-cost options that allow employees, with or without a participating employer, and the self-employed, to participate. He said it would be a "major breakthrough" for the pension market and the "biggest step forward for Canadian retirement savings" since the introduction of the tax-free savings account in 2008. <br />
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He hopes ministers can agree to "move forward expeditiously" to have a detailed policy framework by next summer, at the latest. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CANADIAN STOCKS MIXED LOWER WEDNESDAY</span></div>The Toronto composite closed down 51.01 points in late afternoon trading, led by the commodity producers. The TSX Venture Exchange stood at 2,107.46, down 10.24 points at noon on Wednesday. Material declined against the U.S. dollar's rise, but gains in energy, industrials and IT brought the Toronto averages almost flat in mixed early morning trading Wednesday. Canadian dollar opened on Wednesday at 99.30 cents US, down 0.05 of a cent. at 11 AM EST the Toronto Composite was down 10.27 points.<br />
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The S&P/TSX Composite Index fell 51.01 points, or 0.4%, to 13229.07. Declines exceeded advances, 973 to 687. Trading volume was 550.7 million shares, up from Tuesday's total of 507.5 million shares. The S&P/TSX 60 Index closed down 2.23 points, or 0.4%, to 755.58. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CANADIAN STOCKS LOWER TUESDAY</span></div>The Toronto S&P/TSX Composite closed lower Tuesday at 13280.08, off 15.78 points, or 0.1%. Toronto stocks ended slightly lower Tuesday, as the heavily-weighted triumvirate, the energy, materials and financial services groups all posted modest losses. <br />
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Crude oil shed 33 U.S. cents to end at US$88.28 a barrel in New York due to a report on weak gasoline demand in the U.S. Bullion edged up US$6.30 to close at US$1,404.30 an ounce in New York, as news that the U.S. Federal Reserve will maintain its monetary-easing policy helped lift the precious metal. <br />
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According to closing data the S&P/TSX Composite Index fell 15.78 points, or 0.12%, to 13280.08. Declines led advances 929 to 707. Trading volume was 507.50 million shares, down from Monday's total of 562.3 million shares. The S&P/TSX 60 Index closed down 1.37, or 0.18%, to 757.81 points.<br />
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The TSX Composite at mid-day Tuesday was 13307.05, up 11.19 points in light trading with mixed trading.The stock market was mixed at midday Tuesday, with declines in materials group offsetting gains in energy and financial services. At 11:45 a.m. EST, the S&P/TSX Composite Index was up 18.20 points, or 0.1%, at 13314.06. Declines led advances 777 to 644. Trading volume was 197.4 million shares. The S&P/TSX 60 Index was up 0.68 points, or 0.1%, to 759.86.TSX Venture Exchange opened on Tuesday at 2,129.50, down 1.25 points. Canadian dollar opened on Tuesday at 99.35 cents US, up 0.11 of a cent. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TORONTO HIGHER MONDAY</span><br />
Toronto stocks closed higher Monday for a third day, led by energy and commodity producers.<br />
The S&P/TSX Composite Index rose 56.39 points, or 0.4%, to 13295.86. Advances exceeded declines, 960 to 728. Trading volume was 562.3 million shares, up from Friday's total of 462.5 million shares. The S&P/TSX 60 Index closed up 2.50 points, or 0.3%, to 759.18. <br />
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Toronto stocks are poised for a higher close Monday lead by materials, energy and financials, as surging commodity prices and positive Asian economic data encouraged investors.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">MORE RESTRICTIVE HOME MORTGAGE PRESSURES SEEN</span><br />
Canadian Finance Minister Jim Flaherty said Monday the government is prepared to tighten mortgage rules again "if necessary," amid reports that Canadian household debt burdens have grown.<br />
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The government tightened mortgage rules in the spring in an attempt to cool a booming housing market. Among the government initiatives, borrowers now have to qualify for a five-year fixed-rate mortgage, even if they opt for a lower variable rate.<br />
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Earlier Monday, Statistics Canada reported that Canadian household debt has risen to a record 148% of disposable income. <br />
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<span style="font-size: large;">EQUITY NEWS</span>:<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">GOLD WHEATON BUYOUT</span><br />
<i><b>Gold Wheaton enters $830 million agreement to be acquired by Franco-Nevada</b></i><br />
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Franco-Nevada Corp. (TSX:FNV) has agreed to buy Gold Wheaton Gold Corp. (TSX:GLW) in a deal valued at about $830 million in cash and stock that will help diversify and strengthen the mining royalty company.<br />
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Under the deal, Franco-Nevada will pay 60 per cent in shares and 40 per cent in cash. Gold Wheaton shareholders will receive 0.0934 of a Franco-Nevada share and $2.08 in cash for each share, with the shares valued at $5.20, based on Franco-Nevada's share price before the deal was announced.<br />
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Shares of Gold Wheaton rose 62 cents to trade at $5 on Monday on the Toronto Stock Exchange, while Franco-Nevada shares were down $1.18 to trade for $32.23.<br />
<a href="http://www.winnipegfreepress.com/business/breakingnews/gold-wheaton-reaches-830-million-agreement-to-be-acquired-by-franco-nevada-111782594.html">http://www.winnipegfreepress.com/business/breakingnews/gold-wheaton-reaches-830-million-agreement-to-be-acquired-by-franco-nevada-111782594.html</a><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">FIRST ASSET POWERGEN AND SPROTT POWER MERGER</span><br />
<i><b>First Asset PowerGen Fund and Sprott Power Corp. Agree to Merge</b></i><br />
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First Asset PowerGen Fund (TSX:PGT.UN)and Sprott Power Corp.announced today that they have entered into a definitive agreement (the "Arrangement Agreement") dated December 13, 2010 that provides for a merger of the Fund and Sprott Power by way of a statutory plan of arrangement. <br />
<a href="http://www.istockanalyst.com/article/viewiStockNews/articleid/4740365">http://www.istockanalyst.com/article/viewiStockNews/articleid/4740365</a><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;"><span id="intelliTXT">ECU SILVER ADDED TO </span><span id="intelliTXT">S&P/TSX MINING INDEX</span></span><span id="intelliTXT"></span><br />
<span id="intelliTXT">ECU Silver Mining Inc. (TSX:ECU; OTC:ECUXF) announced that it has been added to the S&P/TSX Global Mining Index, effective at the open of markets on Monday, December 20, 2010. <br />
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The S&P/TSX Global Mining Index is a dynamic international benchmark tracking the world's leading mining companies. It aims to offer investors wide exposure to the world's mining markets by providing an investable representative index of publicly-traded international mining companies. </span><br />
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</b><br />
<b>Toronto Indexes, Friday; 4:15 PM EST Composite Up 20.23</b><br />
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S&P/TSX Composite 13201.46 up 20.23 or 0.2%<br />
S&P/TSX 60 Index 754.22 up 1.05 or 0.1%<br />
Financials 181.87 off 1.82 or 1.0%<br />
Materials 433.34 up 3.67 or 0.9%<br />
Energy 311.40 up 2.35 or 0.8%<br />
Industrials 109.20 up 0.08 or 0.1%<br />
IT 30.81 up 0.1/ or 0.6%<br />
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Volume Friday Thursday<br />
3-4:15 280.6M 106.5M<br />
9:30-4:15 741.3M 552.2M<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">South American Markets:</span><br />
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<span style="font-size: x-large;">BRAZIL:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Close Lower Thursday</span><br />
Brazilian blue-chip shares closed lower Thursday for the third-consecutive session as early bargain-hunting gave way to selling pressure ahead of the expiry of stock options contracts. <br />
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The benchmark Ibovespa stocks index closed 0.8% lower at 67,306 points, down from Wednesday's close at 67,870 points. Trading volume was heavy at 6.79 billion Brazilian reais ($3.99 billion).</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Brazilian blue-chip shares were broadly lower. <br />
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Vale SA (VALE, VALE5.BR) closed 0.9% lower at BRL49.90 as base metals prices were stable, but off from last week's highs. <br />
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State-run energy company Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras slipped 0.1% to BRL25.35, while independent driller OGX Petroleo e Participacoes (OGXP3.BR) tumbled 1.5% to BRL19.01. <br />
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Construction companies were among the day's biggest losers, with prospects for higher interest rates and their impact on the housing market sending investors scurrying for the exits. <br />
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MRV (MRVE3.BR) sank 7.3% to BRL14.20, while Rossi Residencial (RSID3.BR) lost 3.0% to BRL13.48. PDG Realty (PDGR3.BR) sank 3.4% to BRL9.12 and Gafisa (GFSA3.BR) slid 2.2% to BRL11.00. <br />
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Banking shares also reversed course during the session amid concerns that the central bank may once again raise reserve requirements, part of a focus on measures that may reduce the need for interest rate increases to control inflation. <br />
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Banco Bradesco (BBD, BBDC4.BR) decreased 1.5% to BRL32.10, while Itau Unibanco (ITUB, ITUB4.BR) slipped 0.8% to BRL38.14. Banco do Brasil (BBAS3.BR), Latin America's largest bank in terms of assets, tanked 1.0% to BRL30.75. <br />
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Among the day's few gainers was petrochemicals giant Braskem (BAK, BRKM5.BR), which gained 3.4% to BRL19.29 on analyst upgrades and increased price targets. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Close Higher Monday</span><br />
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Brazil's stocks closed higher Monday, lifted by higher global commodities prices and a better tone in global stock markets. <br />
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The Ibovespa stocks index ended up 1.2% at 69126 points. The two main blue-chip stocks were also up on the day. Mining giant Vale SA (VALE, VALE5.BR) was up 1.8% at BRL50.92 while oil company Petroleo Brasileiro SA (PBR, PET4.BR), or Petrobras, rose 0.8% to BRL25.91. <br />
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Petrobras executives on Monday said the firm will declare the much-ballyhooed Tupi field as commercial by the end of the year. Tupi is estimated to hold recoverable reserves of between five billion and eight billion barrels of oil equivalent, or BOE. Tupi was the Western Hemisphere's largest oil find in more than 30 years when it was announced in November 2007. <br />
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"By Dec. 31, we have to declare [as] commercial the evaluation plan for Tupi," said Jose Formigli, executive manager for presalt exploration at Petrobras. <br />
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Brazilian beef exports should reach from $5.3 billion to $5.6 billion in 2011, the head of the Brazilian Beef Exporters' Association said on Monday. This compares with estimated exports of $4.9 billion this year on volume equivalent to 1.64 million tons, said Antonio Jorge Camardelli, president of the trade association known as Abiec. <br />
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Brazilian beef processor JBS SA (JBSAY, JBSS3.BR) ended down 1.3% at BRL6.78, while Marfrig Alimentos SA (MRRTY, MRFG3.BR) was off 0.7% at BRL13.50. MMX Mineracao e Metalicos SA (MMXM3.BR) was down 4.3% at BRL10.96 while MRV Engenharia e Participacoes SA (MRVNY, MRVE3.BR) was up 5.1% at BRL16.65.<br />
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<span style="font-size: x-large;">MEXICO:</span><br />
FRIDAY:<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexican Stocks Edged Higher Friday</span><br />
<i><b>Mexico's Stocks Rise To Record High Close; IPC Index Up 0.4%</b></i><br />
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Mexico's stocks rose to a record-high close Friday, with the market's benchmark index toying with a 38000-point finish as investors shook off early jitters about Moody's credit downgrade of Ireland to close a winning week on a positive note. <br />
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The IPC index closed up 0.4% or 164 points to 37997. Volume picked up from recent sessions to a robust 278.7 million shares worth 9.42 billion pesos ($759 million). The euphoria was limited by a mixed performance in U.S. equities, where the Dow Jones Industrials slipped 0.1%, but the Nasdaq composite index rose 0.2%. <br />
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The IPC finished the week with a gain of 3.8% and is up 18% year-to-date. <br />
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America Movil L shares rose 0.5% to MXN35.18, cement maker Cemex CPO shares rose 0.6% to MXN12.55 and retailer Wal-Mart de Mexico V shares rose 0.5% to 35.74. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexican Drone Enters U.S. Airspace - Crashes In Texas </span><br />
U.S. officials are investigating the crash of a Mexican drone near the border town of El Paso, Texas. The unmanned aircraft crashed in a residential neighborhood on Tuesday and has been returned to the Mexican government, officials said. <br />
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A spokesman for U.S. Customs and Border Protection declined to say whether the Mexican government had permission to enter U.S. airspace in the troubled border region or to provide many details about the crash. <br />
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"On Tuesday CBP/U.S. Border Patrol responded to a concerned citizen's call and recovered small Unmanned Aerial Vehicle which belonged to the government of Mexico (GOM)," spokesman Roger Maier said in an emailed statement. "We worked collaboratively with the GOM and other U.S. Federal agencies to coordinate the return of the UAV to the GOM." <br />
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The National Transportation Safety Board "has the lead on the investigation," Maier added. A spokesman for the safety board said the agency is working to determine why the drone crashed. "We are collecting data," spokesman Keith Holloway said. "We aren't planning on sending anyone down there because we can gain the information we need from other agencies." <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexican Stocks Edged Higher Thursday </span><br />
The IPC index of Mexico's 35 most-traded shares rose 0.4% to 37833, shy of its record finish of 37901 points Tuesday and less than 200 points away from a key technical ceiling of 38000 points. Twenty-five of the index's components posted gains, while volume was limited at 4 billion pesos ($322 million). <br />
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Wireless carrier and market benchmark America Movil lost 0.1% to MXN35.00, cement maker Cemex gained 0.6% to MXN12.47 and mining firm Grupo Mexico retreated 0.2% to MXN47.75. UBS cut its recommendation for Grupo Mexico shares to sell from neutral Wednesday, noting that the current price is above its MXN41.90 price target. <br />
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Shares in Mexico's third-largest bank, Banorte, rose 1.4% to MXN60.03 after Moody's raised its rating Thursday on the Mexican banking system to stable from negative, citing sound funding as well as improving asset quality. Banorte is Mexico's biggest local financial firm with publicly listed shares. <br />
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Also Thursday, airport group OMA said it's investing around MXN500 million in high-tech baggage handling systems for its airports. The project is being partially financed with a $23 million, 10-year loan from UPS Capital Business Credit, backed by the U.S. Export-Import Bank. <br />
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The equipment will be able to detect explosives and other forbidden substances and objects in checked baggage. The installation is expected to be completed at all OMA's airports in 2011, the company said. OMA shares added 0.5% to MXN24.90. <br />
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The peso, meanwhile, strengthened against the dollar to close at MXN12.4270 versus MXN12.4520 at the close Wednesday. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexican Stocks Edged Lower Wednesday</span><br />
Mexico's stocks opened and closed modestly lower Wednesday and the peso was weaker against the U.S. dollar as investors kept eyes on Europe and the sovereign debt troubles among some EU countries. <br />
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The market's IPC index of leading issues was down 0.2% at 37,839 points around 10:25 a.m. EST. Volume was 16.8 million shares worth 514.2 million pesos ($41.5 million). The Mexican peso was weaker against the U.S. dollar, quoted in Mexico City at MXN12.4045. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">THIRD NEW U.S. BOARDER CROSSING OPENED THIS YEAR</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Mexican President Felipe Calderon and U.S. Customs and Border Protection Commissioner Alan Bersin opened a new border crossing that links the Tamaulipas state town of Rio Bravo with Donna, Texas. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The Rio Bravo-Donna bridge is the third border crossing opened this year, the U.S. Embassy said. The other new crossings link McAllen, Texas with Reynosa, Tamaulipas and San Luis, Arizona with San Luis Rio Colorado, Sonora.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">STOCKS EDGE HIGHER TUESDAY </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Mexico's Stocks Edge Higher, Sets New IPC Record</b></i><br />
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Mexican stocks closed practically flat Tuesday in indecisive trading, but did just enough to set a second consecutive record close. the IPC index of leading issues finished 6.7 points higher at 37,901 points. Volume was 154.2 million shares worth 5.46 billion pesos ($441 million). The index dipped several times into the red before a late rally, which came after the U.S. Federal Reserve left interest rates near zero and said it will continue with monetary stimulus. <br />
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Bellwether America Movil L shares rose 0.2% to MXN35.44, cement company Cemex CPO shares rose 0.7% to MXN12.47, and media group Televisa CPO shares rose 1.1% to MXN61.97. Retail heavyweight Wal-Mart de Mexico V shares slipped 0.1% to MXN34.69, and phone company Telmex L shares fell 2.1% to MXN9.70. <br />
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Cable company Megacable CPO shares rose 0.6% to MXN31.25 in light volume. Citigroup unit Banamex raised its recommendation on the stock to buy from hold, citing timely investments and expectations of bigger operating profit margins. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MEXICAN STOCKS MOVE UP MONDAY </span><br />
<i><b>Mexico Stocks Gain On China Rates; Peso Strengthens</b></i><br />
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Mexican stocks were gaining early Monday amid global relief that China did not raise rates to cool its surging economy. <br />
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In morning trading , the IPC was up 0.4% at 37817 on volume of 599 million pesos ($48 million). Among blue chips, wireless carrier and market benchmark America Movil was advancing 0.1% to MXN35.42, cement maker Cemex was 0.7% higher at MXN12.33, and mining firm Grupo Mexico was up 1.4% to MXN48.60. <br />
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"Lateral movements could persist in the short term, though the scenario increasingly suggests stabilization with a positive bias for Latam assets," analysts with BBVA Bancomer wrote in a morning note. <br />
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In economic news, Mexican statistics agency Inegi reported early Monday that industrial production expanded 3.7% in October, weaker than market expectations of a 5.2% rise. <br />
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Car producer's association AMIA, however, said Monday that auto production spiked 18% on the year in November, while exports of vehicles surged 25%. <br />
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The peso was stronger against the dollar at 12.3780 compared with MXN12.4520 at the close Friday.<br />
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<span style="font-size: x-large;">ARGENTINA:</span><br />
FRIDAY:<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina Stocks Rise In Rebound</span><br />
Argentine stocks ended the week with solid gains as shares scratched back some of the losses suffered on Tuesday and Wednesday due to a wave of options coming due. <br />
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Argentina's benchmark Merval stock index climbed 2% to close at 3,403.08 points. Shares ended the week 0.5% lower but are still up over 45% on the year. <br />
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Earlier in the week a number of options were exercised for companies, especially banks and those tied to the energy sector, increasing the amount of shares in circulation and weighing on prices. <br />
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Shares of banking group Grupo Financiero Galicia (GGAL, GGAL.BA) rose 3.7% to close at ARS5.96 ($1.50) while power distributer Edenor (EDN, EDN.BA) shot up 4.31% to ARS2.66. <br />
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Stocks are expected to continue to perform well next year amid strong economic growth in Argentina. Near the end of trade Friday, the government reported gross domestic product data that showed strong, but moderating expansion due to good domestic consumption and industrial output. Argentina's national statistics agency, Indec, said GDP increased 8.6% in the third quarter a year earlier. Third-quarter GDP rose 0.4% from the previous quarter, bringing the economy's total expansion during the January-September period to 9.1% from the same nine-month period of 2009. <br />
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Bonds also generally edged higher on Friday. The peso-denominated 2033 discount bond rose 0.8% in price terms to ARS184, to yield 7.4%. The dollar-denominated Boden 2015 bond added 0.7% to close at ARS376, bringing the yield to 9%. <br />
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The peso gained ground against the dollar Friday, strengthening to ARS3.9750 from ARS3.9775. The government regularly intervenes in currency markets to keep the peso trading within a tight band relative to the dollar.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina's November Industrial Output Surges 12.5%</span><br />
Argentina's industrial production grew more than expected in November, on the back of big gains in automobile and construction materials output. <br />
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Industrial production last month rose 12.5% on the year, and 4.1% in seasonally adjusted terms from October, the national statistics agency, Indec, reported Friday. <br />
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The annual reading was well above the 8.1% median forecast of 10 economists surveyed by Dow Jones Newswires. Friday's report came as little surprise to economists and investors after President Cristina Fernandez said Wednesday that manufacturing grew 12.8% on the year in November. <br />
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"We expect the industrial sector to continue to record solid growth in the coming months, driven chiefly by solid foreign demand as domestic demand among some of the main trading partners remains strong, namely Brazil," Goldman Sachs economist Alberto Ramos said in a note. <br />
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Capacity utilization was 83.4% last month, its highest level in a year, led by basic metals at 90.2%; textiles 90.1%; paper and cardboard 88.8%; petrochemicals 87.1%; and automobiles 84.2%. <br />
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Argentine industry expanded 9.7% during the first 11 months of the year, compared to the same period in 2009, according to Indec. <br />
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Expansion was noted in food processing, textiles, printing, automobile and machinery, petrochemical, construction materials and metals output, while declines were observed in tobacco, paper and cardboard, and oil refining. <br />
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The growth in food processing was extremely sluggish at just 3.3% on the year in November. Though milling of cereals and oil bearing grains rose 21.4% last month, beef production plunged 30.1%, while the output of other meats such as chicken and pork was almost flat. <br />
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Falling or stagnant meat production could have serious consequences for consumers and their pocketbooks during the summer months when consumption soars as carnivorous Argentines take advantage of good weather to host their traditional outdoor barbecues. <br />
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Indeed, food and beverage prices posted the biggest gains in Indec's consumer price index for November. Annual inflation as measured by the CPI was 11% at the end of last month, about half of what most private-sector economists had forecast. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina's 3Q GDP Expands 8.6% On Year</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Argentina's economy moderated its pace of expansion in the third quarter, though growth remained elevated thanks to strong domestic consumption and industrial output. <br />
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Argentina's national statistics agency, Indec, said Friday that gross domestic product--a broad measure of all the goods and services produced in the economy--increased 8.6% in the third quarter from the year earlier period. <br />
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Third-quarter GDP rose 0.4% from the previous quarter, bringing the economy's total expansion during the January-September period to 9.1% from the same nine-month period of 2009. Indec said private consumption rose 8.9% on the year in the quarter, while durable goods output jumped 55.4% led by imports. <br />
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The government and Central Bank of Argentina expect GDP to expand about 9% for the full year following what many economists believe was a deep recession in 2009. Indec says the economy managed to grow 0.9% last year. <br />
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Argentina owes its economic good times in large part to high commodity prices for its grain exports and strong demand in Brazil for Argentine manufactured goods. High levels of government spending and a consumption boom fueled by inflation have also goosed growth, however. <br />
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Indec reported Wednesday that annual inflation as measured by the consumer price index was 11% at the end of November, about half of what most private-sector had forecast. <br />
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THURSDAY: <br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Argentina's Stocks Rise Thursday</span></div>Argentina's stocks on Thursday broke a two-day losing streak to close firmly higher, while government bonds also logged modest gains. The benchmark Merval index rose 1.4% to close at 3336.72 points on volume of 101 million pesos ($25.4 million) with banking and energy stocks fronting gains. <br />
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The Merval benefited from gains in North American and European equity markets following the release of generally positive U.S. employment and manufacturing data. <br />
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"The market should be quiet with [the Merval] approaching its recent record highs towards the end of the year," Alejandro Stratiotis, a trader at local brokerage Amirante Galitis, said in a telephone interview. <br />
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"People are upbeat about next year so we should touch new highs early in the year," he added. <br />
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Shares of electric utility holding company Pampa Energia (PAM, PAMP.BA) rose 2% to close at ARS2.55, banking group Grupo Financiero Galicia (GGAL, GGAL,BA) rose 0.7% to ARS5.75, and mortgage lender Banco Hipotecario (BHIP) finished 1.8% higher at ARS2.79. <br />
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Turnover on the local bond market was ARS456.1 billion, equivalent to nearly 45% of the total volume of securities traded on the Buenos Aires Stock Exchange during the session. <br />
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The peso-denominated 2033 discount bond rose 1.1% to close at ARS182.50, yielding 7.42%. <br />
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The Global 2017 bond, issued in June as part of the government's debt swap with the holders of defaulted bonds, closed unchanged at ARS411, yielding 8.34%. The Boden 2015 closed 0.1% higher at ARS373.50, yielding 9.20%. <br />
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Argentina's 2035 peso-denominated GDP warrants rose 0.2% to ARS13.87, while U.S. dollar-denominated GDP warrants with the same maturity closed unchanged at ARS55.45. <br />
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The peso was quoted closing in interbank markets at ARS3.9750 to the dollar, compared to ARS3.9775 at Wednesday's close. <br />
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WEDNESDAY:<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">INFLATION 11% FOR THE YEAR</span><br />
<i><b>Argentina Reports +0.7% Increase In November Inflation</b></i><br />
Argentina reported a steep rise in the November consumer price index, although the government figures continue to fuel skepticism among economists who say prices are actually rising at least twice the official rate.<br />
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Economists had expected the government to report 0.8% month-on-month inflation in November, which would have put the annual inflation rate at 11.1%, unchanged from October. <br />
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Argentina's consumer price index in the capital Buenos Aires, used as a measure of nationwide inflation, jumped 0.7% on the month in November, bringing the rate over the past 12 months to 11%, the national statistics agency, Indec, reported Wednesday. Prices for clothing, appliances, medical care and food and drinks posted the largest gains. <br />
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The credibility of Indec's inflation data has been called into question since former President Nestor Kirchner made personnel changes at the agency in 2007, which led to a sharp divergence between government data and private-sector estimates. The government of President Cristina Fernandez, Kirchner's wife, regularly denies charges that it manipulates Indec data. <br />
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Most private-sector economists say inflation is running well above 20% thanks to elevated government spending, hefty wage increases negotiated by unions amid an economic boom, and the central bank's decision to expand the money supply. <br />
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Local think tank Buenos Aires City--run by Indec's former CPI director, Graciela Bevacqua, who was purged by Kirchner--said in a report that consumer prices rose 1.3% in November, bringing the annual inflation rate to 25.6% due to rising prices for food and beverages. <br />
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Joaquin Ledesma & Asociados economic consultancy pegged the November price gain at 1.5% from October and 23% from a year earlier. <br />
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In a move interpreted as a concession to placate critics, the Fernandez administration last month invited the International Monetary Fund to help Indec build a nationwide consumer price index. An IMF technical mission has already met with Argentine officials to discuss the project. The IMF will demand strong assurances about the integrity of the new CPI before putting its stamp of approval on the project. <br />
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The implementation of a national CPI is widely expected to be a drawn-out affair as the government is unlikely to make changes to the current Buenos Aires CPI to avoid legal problems. The government's inflation-linked bonds are indirectly linked to Indec's CPI and the chronic underreporting of inflation has short-changed investors, analysts say. <br />
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<span style="font-size: x-large;">CHILE:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">FRIDAY:<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile Stocks Close Slightly Higher Friday</span></div><br />
Chile's blue-chip Ipsa index ended slightly higher Friday, as retailers once again pushed the local market higher on expectations for continued robust domestic demand and on recent upwardly revised target prices. <br />
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The Ipsa ended 0.1% higher at 5006.59. Meanwhile, market volume surged to 226.5 billion Chilean pesos ($480.0 million) after local businessman Alvaro Saieh sold an 8.9% stake in retailer Ripley (RIPLEY.SN). Volume totaled CPL141.0 the prior session. <br />
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Ripley ended 0.8% lower at CLP660.81 after Saieh raised $242.7 million through the sale of 174.2 million shares at a minimum of CLP660.00 per share. <br />
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Market participants speculate that Saieh, whose family holds a controlling stake in local bank Corpbanca (BCA, CORPBANCA.SN) and the La Tercera newspaper, is looking to purchase a stake in fellow retailer La Polar (LAPOLAR.SN). <br />
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La Polar's shares ended 0.7% higher at CLP3,508.40. <br />
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"There is speculation that since Saieh could never gain a controlling stake in Ripley, he's raising capital to buy a controlling stake in La Polar," said Rodrigo Arriagada, trader with local brokerage Molina y Swett. <br />
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Retailers have fueled the Ipsa's record run this year on the back of robust domestic demand as the economy quickly recovers from last year's recession and February's massive earthquake. <br />
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The nation's largest department store, Falabella (FALABELLA.SN), rose 1.0% to a 52-week high of CLP5,273.30, following recent recommendations, including local investment bank BCI's 12-to-18-month target price of CLP5,850. <br />
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Also, retail holding giant Cencosud (CENCOSUD.SN), which has lagged behind its peers in recent sessions, jumped 2.7% to CLP3,763.40. <br />
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The peso ended stronger at a 31-month high against the dollar after the central bank continued to remove its monetary stimulus and as international copper prices rose. The peso ended at CLP471.80 to the dollar, versus Thursday's close of CLP473.20, while trading in a range of CLP470.90 to CLP473.20. <br />
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In the bond market, yields on inflation-indexed Chilean central-bank bonds, or BCUs, ended unchanged in thin over-the-counter trading. <br />
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The yield on five-year BCU bonds ended unchanged on the day at 2.64%, while the yield on 10-year BCUs also closed unchanged at 2.93%.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile's Key Interest Rate Unchanged</span><br />
Late Thursday, the bank increased the key interest rate by 25 basis points to 3.25%, as expected by most participants, although a number of dissenters anticipated the monetary authority would leave the rate unchanged. <br />
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Higher local rates encourage capital inflows, as investors seek better returns, which in turn strengthen the local currency. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile Stocks Close Higher Thursday</span></div><br />
Chile's blue-chip Ipsa index ended slightly higher Thursday, paring back earlier gains, as retailers surged following several recommendations and a rosy outlook for strong domestic demand. <br />
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The Ipsa ended 0.1% higher at 5003.08, while market volume fell to 141.0 billion Chilean pesos ($298.0 million) from CLP165.9 billion the prior session. <br />
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Retailers were the local market's strongest component again. They have fueled the Ipsa's 39.5% record-run this year on the back of robust domestic demand as the economy quickly recovers from last year's recession and February's massive earthquake. <br />
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The nation's largest department store, Falabella (FALABELLA.SN), rose 3.5% to a 52-week high of CLP5,215.00, after local investment bank BCI set a 12- to 18=month target price of CLP5,850 for the retailer earlier in the day and Bank of America-Merrill Lynch recently gave it a year-end 2011 target price of CLP6,000 per share. <br />
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Domestic demand is expected to remain strong, as Chile's economy is forecast to expand 5.2% this year, and 6.0% in 2011. <br />
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After Falabella's recent sharp rally, the retailer overtook fuel and forestry conglomerate Copec (COPEC.SN) to become the biggest company by market capitalization on the Santiago Stock Exchange. <br />
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"Falabella's market capitalization totaled $26.5 billion at the close of the session, compared to Copec's $25.4 billion. It's a reflection of the growing importance of the retail sector for the local market," said analyst Raul Barros with BBVA Research. <br />
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Among retailers, La Polar (LAPOLAR.SN) jumped 5.1% to CLP3,485.00, and Ripley (RIPLEY.SN) climbed 1.0% to CLP663.50. Credit Suisse recently placed a year-end 2011 target price of CLP3,500 for La Polar. Copec (COPEC.SN) fell 0.3% to CLP9,370.00 <br />
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The peso ended little changed on the day against the dollar, as market participants awaited the central bank's interest-rate decision after the market's close. The peso ended at CLP473.20 to the dollar versus Wednesday's close of CLP473.50, while trading in a tight range of CLP473.10 to CLP474.70.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Close Higher</span><span style="font-family: Times,"Times New Roman",serif; font-size: small;"><span style="font-size: x-large;"> Wednesday</span></span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: small;"></span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">Chile's blue-chip Ipsa index closed higher Wednesday as retailers and commodities-related companies gained on expectations for strong future growth. </span><span style="font-family: Arial,Helvetica,sans-serif;">The Ipsa ended 0.6% higher at 4996.86, while market volume grew to 165.9 billion Chilean pesos ($350.6 million) from CLP126.7 billion the prior session. </span><br style="font-family: Arial,Helvetica,sans-serif;" /><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">Retailers, which have fueled the Ipsa's record run this year as Chile quickly recovers from last year's recession and February's devastating earthquake on the back of strong domestic demand, were among the biggest gainers. </span><br style="font-family: Arial,Helvetica,sans-serif;" /><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">Retail holding company Cencosud (CENCOSUD.SN) gained 0.8% to CLP3,675.80 and retailer Hites (HITES.SN) grew 2.6% to CLP712.64. </span><span style="font-family: Arial,Helvetica,sans-serif;">Falabella (FALABELLA.SN), surged 2.7% to CLP5,038.40 after Bank of America-Merrill Lynch recently set a year-end 2011 target price of CLP6,000 per share for the retailer. </span><br style="font-family: Arial,Helvetica,sans-serif;" /><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">Fuel and forestry conglomerate Copec (COPEC.SN), the Ipsa's heaviest-weighted share, increased 1.4% to CLP9,396.30 after investment bank Santander Global Banking & Markets gave it a year-end 2011 target price of CLP10,560 per share, from a previous target of CLP9,800. </span><span style="font-family: Arial,Helvetica,sans-serif;">Specialty chemical and fertilizer producer SQM's (SQM) more liquid B-series shares (SQM-B.SN) advanced 2.8%, to CLP25,524.00. </span><br style="font-family: Arial,Helvetica,sans-serif;" /><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><span style="font-family: Arial,Helvetica,sans-serif;">The peso closed slightly weaker against the dollar as international copper prices slipped and the euro declined versus the dollar as investors worried about a potential downgrade to Spain's credit rating. </span><span style="font-family: Arial,Helvetica,sans-serif;"> After appreciating 3% over the last two-and-a-half weeks to a 31-month high, the peso ended weaker at CLP473.50 to the dollar, versus Tuesday's close of CLP472.60. The local currency traded in a range of CLP473.30 to CLP475.00. </span><br style="font-family: Arial,Helvetica,sans-serif;" /><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">In the bond market, yields on inflation-indexed Chilean central-bank bonds, or BCUs, ended lower following a scheduled auction of central bank-issued sovereign debt. </span><br style="font-family: Arial,Helvetica,sans-serif;" /><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">The yield on five-year BCU bonds ended at 2.63%, from 2.66% on Tuesday, while the yield on 10-year BCUs closed at 2.94%, from 2.97% the prior session.</span> </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks End Higher Tuesday</span><br />
Chile's blue-chip Ipsa index ended higher Tuesday as retailers and commodities-related companies rose. <br />
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The Ipsa ended 0.6% higher at 4973.89, while market volume grew to 126.68 billion Chilean pesos ($268 million) from CLP90.0 billion the prior session. <br />
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On the back of strong domestic demand, retailers have risen sharply, leading the Ipsa into record-high territory this year. The nation's largest department store, Falabella (FALABELLA.SN), rose 2.5% to CLP4,900.00, while retailers La Polar (LAPOLAR.SN) gained 0.3% to CLP3,315.00 and Ripley (RIPLEY.SN) advanced 0.8% to CLP660, after international investment banks recently raised their respective target prices. <br />
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Investment banks Bank of America-Merrill Lynch set a year-end 2011 target price of CLP6,000 per share for Falabella, while Credit Suisse placed a year-end 2011 target price of CLP3,500 for La Polar. <br />
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Fuel and forestry conglomerate Copec (COPEC.SN), the Ipsa's heaviest-weighted share, gained 1.4% to CLP9,290.00; pulp and paper producer CMPC (CMPC.SN) rose 1.8% to CLP25,700.00; and integrated steel and iron ore producer Cap (CAP.SN) jumped 3.9% to CLP25,399.00. <br />
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Specialty chemical and fertilizer producer SQM's (SQM) more liquid B-series shares (SQM-B.SN), however, fell 2%, to CLP24,840.00, after nearing its all-time high around CLP27,000 in recent sessions. <br />
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The peso closed at a fresh 31-month high against the dollar Tuesday as international copper prices rallied to a new record high. The peso ended stronger at CLP472.60 to the dollar, versus Monday's close of CLP474.80, while trading in range of CLP472.60 to CLP474.80. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chinese Demand Seen Keeping Copper Prices High</span><br />
Copper prices are likely to remain high over the next few years due to Chinese demand, but this price increase could lead to substitution, a top Chilean mining executive said Tuesday. <br />
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This month copper breached the $4-a-pound mark, hitting a fresh record high in London Tuesday of $4.20 a pound, according to Chilean state copper studies commission Cochilco. <br />
<span style="font-family: Times,"Times New Roman",serif; font-size: small;"> </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Ends Flat Monday</span><br />
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Chile's blue-chip Ipsa index ended virtually flat Monday, as market participants take a step back from the market after the strong rally the Ipsa posted this year. The Ipsa ended 0.01% lower, at 4945.18, while market volume slipped to 90 billion Chilean pesos ($189.6 million), compared with CLP113.4 billion the prior session. <br />
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Retail holding giant Cencosud (CENCOSUD.SN) lost 0.1%, to CLP3,619.60, department store La Polar (LAPOLAR.SN) declined 0.7%, to CLP3,306.80 and retailer Ripley (RIPLEY.SN) lost 0.6%, to CLP655.00. <br />
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Construction and real-estate companies again fell after the sector rapidly rose in recent sessions on expectations that a ramping up of post-earthquake reconstruction activities will boost profits. <br />
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Construction company SalfaCorp (SALFACORP.SN) dropped 1.9%, to CLP1,736.00, and real-estate developer Socovesa (SOCOVESA.SN) declined 1.4%, to CLP392.02. <br />
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Specialty chemical and fertilizer producer SQM's (SQM) more liquid B-series shares (SQM-B.SN) slid back, falling 1.4%, to CLP25,335.00. Shipping company Compania Sud Americana de Vapores (VAPORES.SN), which said earlier that it will buy two container carriers from Samsung Heavy Industries (010140.SE) for $180 million, ended 0.1% lower, at CLP588.55. <br />
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The peso ended at a 31-month high against the dollar, as international copper prices surged to a new record high and as the euro rose sharply against the dollar. The peso ended stronger, at CLP474.80 to the dollar, versus Friday's close of CLP475.80, while trading in range of CLP471.70 to CLP475.20. <br />
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As the peso has appreciated in recent months, Chilean exporters, particularly in the agricultural sector, have demanded currency-market intervention, arguing that the local currency's strength hurts the competitiveness of their products. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-size: x-large;">PERU:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Peru's Main Stock Indexes End Mixed Friday</span><br />
Peru's main stock market indexes ended mixed Friday, losing ground due to some uncertainty about international exchanges but gaining on higher blue-chip mining stocks as metals' prices rose. <br />
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The Lima Stock Exchange's broad General index fell 0.03% to close at 22035.58. The Selective blue-chip index meanwhile gained 0.33%, closing at 30872.93, while the mining subindex rose 0.45%. <br />
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Stocks losing ground included consumer-goods company Alicorp (ALICORC1), down 3.13% to close at 6.20 soles ($2.21). Property and engineering company Grana y Montero (GRAMONC1) was down 1.64% to close at PEN6.59 and beer maker Union de Cervecerias Peruanas Backus & Johnston SAA (BACKUSI1.VL) also lost value, down 0.35% to close at PEN5.68. <br />
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Gaining value on higher gold prices was precious-metals miner Compania de Minas Buenaventura SAA (BVN, BUENAVC1), up 0.10% to close at $47.95. Also up in line with some higher red metals' prices was base-metals miner Southern Copper Corp. (SCCO, SCCO.VL), gaining 0.26% to close at $46.52. <br />
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Meanwhile, the sol ended slightly stronger at PEN2.813 per dollar. In the previous session the sol closed at PEN2.815 per dollar.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Peru's Stock Indexes End Higher Thursday</span><br />
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Peru's main stock-market ended higher Thursday, lifted by gains in a number of blue-chip shares. The Lima Stock Exchange's broad General index closed higher by 0.31%, at 22041.44. <br />
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The Selective blue-chip index ended stronger by 0.39% at 30771.89. Base-metals miner Southern Copper Corp. (SCCO) increased 0.43% to end at $46.40. Financial-holding company Credicorp Ltd. (BAP) gained 0.19% to end at $120.22. It owns Banco de Credito, Peru's largest bank. Telefonica SA (TEF) rose 0.45% to end at $67.30, following the direction of its New York-traded American Depositary Receipt. <br />
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Compania de Minas Buenaventura SAA (BVN, BUENAVC1.Vl), which fell 1.24% to end at $47.90, as the price of gold eased. <br />
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The sol ended slightly stronger at PEN2.815 per dollar, compared with PEN2.818 per dollar in the previous session. <br />
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<div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Markets:</span><br />
<b>FRIDAY:</b>EURO STOXX 50 2,834.96 -10.82 (-0.38%)<b> </b><br />
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European Indexes declined on Friday after Moody's downgraded Ireland's rating by five notches. The euro struggled after Moody's slashed Ireland's sovereign rating by five notches, to Baa1 from Aa2, and warned further downgrades could follow if Dublin is unable to stabilise its<br />
debt situation.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">EU leaders on Friday agreed at a summit to try to lengthen the maturities of new sovereign bond issues, and confirmed that private investors will be involved in the future euro zone rescue mechanism, a draft statement showed.<br />
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The U.K., Germany, and France are joining forces to limit future increases in the European Union's annual budget, including a plan for a virtual freeze between 2014 and 2020, the U.K.'s prime minister said Friday.<br />
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The European Central Bank said it will increase its subscribed capital to $14.23 billion after taking on greater credit risks in a massive expansion of its balance sheet. <br />
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THURSDAY:The Stoxx Europe 600 index closed up 0.4% at 277.59</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
European Union leaders are gathering for a two-day summit in Brussels, where they will discuss ways to prevent and respond to future euro-zone debt crises. The European Central Bank decided to increase its subscribed capital by EUR5 billion ($6.6 billion) to EUR10.76 billion to help manage foreign-exchange volatility and credit risk. <br />
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WEDNESDAY: EURO STOXX 50 2,846.54 <span style="color: red;">-15.13 (-0.53%)</span> <br />
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TUESDAY: The Stoxx Europe 600 index ended up 0.2% at 277.65. The U.K.'s FTSE 100 index rose 0.5% to 5891.21, France's CAC-40 index ended 0.3% higher at 3902.87 and Germany's DAX closed flat at 7027.40.<br />
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TUESDAY: The Stoxx Europe 600 index showed a small gain, with the help of some upbeat U.S. economic data, to notch its seventh consecutive gain. The euro fell against the dollar, while gold prices rose slightly and oil was little changed. <br />
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Oil and gas stocks put in the strongest performance, led higher by BP, whose shares rose 3% after it announced plans to sell its exploration and production assets in Pakistan from $775 million. Also, Credit Suisse said the company remains its top long-term pick. Credit Suisse also raised its 2011 oil price target and earnings forecasts for the sector. The Stoxx Europe 600 oil and gas index closed up 0.9% at 333.55.<br />
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TUESDAY: The European Central Bank may ask member countries of the union to chip in a little more cash as a cushion while it keeps buying the debt of some peripheral countries that have drawn a lot of fire in financial markets.<br />
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“The ECB is apparently considering requesting 16 national central banks for a capital increase to protect it from any losses stemming from its sovereign bond purchases,” said bond strategists at TD Securities on Tuesday. “The ECB’s capital base of €5.8 billion ($7.8 billion) may be overwhelmed by its €72 billion of purchases so far of European peripherals, should default become an option.”<br />
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The matter may be discussed at the next meeting of the ECB Governing Council on Dec. 16, according to Bloomberg News.<br />
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On Monday, the ECB released data showing it increased purchases of sovereign debt in the previous week, but not nearly to the levels seen when the ECB started bond purchases to quell the Greek debt crisis.<br />
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<i>Read the entire article at MarketWatch</i>: <br />
<a href="http://blogs.marketwatch.com/marketjunkie/2010/12/14/ecb-needing-more-capital-not-a-good-sign/?mod=yahoo_hs">http://blogs.marketwatch.com/marketjunkie/2010/12/14/ecb-needing-more-capital-not-a-good-sign/?mod=yahoo_hs </a><br />
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MONDAY: EURO STOXX 50 2,855.37 +15.84 (0.56%) <br />
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MONDAY:<br />
European stocks maintained small gains Monday but on limited volumes as many investors opted to defer taking new positions until the New Year.<br />
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Europe's FTSEurofirst 300 gained 0.2 percent. EURO STOXX 50 2,858.70 +19.17 (0.68%), Britain's FTSE 100 was up 0.7 percent at 5,854.33 and Germany's DAX was 0.3 percent higher at 7,024.96. France's CAC-40 was up 0.7 percent at 3,882.78.<br />
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Herman Van Rompuy, president of the European Council, Thursday called for European governments to agree to a limited change to the European Union treaty next week that will allow the creation of a permanent mechanism to bail out troubled EU economies. He said he believed European leaders would do "whatever it takes" to ensure the financial stability of the euro region. <br />
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<span style="font-size: x-large;">LONDON:</span><br />
<b>FRIDAY:</b> FTSE 100 5871.75 -9.37 (-0.16%) <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">London Stocks Close Slightly Lower Friday</span><br />
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FTSE 100 5871.75 -9.37 -0.16%<br />
FTSE 250 11426.78 +97.74 +0.86%<br />
DJ UK Smaller Companies 960.76 +3.46 +0.36%<br />
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FTSE 100 ends down 0.2% at 5871.75, having spent most of the session treading water, as investors remain focused on sovereign debt of 'peripheral' euro zone states.<br />
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The U.K. Financial Services Authority on Friday issued tougher guidelines on compensation for the financial services industry, broadly in line with rules set by an EU-wide committee. <br />
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"Euro-zone debt fears could keep a leash on any potential gains to be made next year and traders are likely to want to see an EU-wide fiscal solution to combat any domino effect that there may be before this debt cloud can be lifted," says Joshua Raymond at City Index. Banks are on the back foot following Moody's downgrade of Ireland and as Lloyds Banking Group announces further writedowns on its Irish portfolio.<br />
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The Bank of England Friday highlighted the benefits offered by new credit instruments in raising, lengthening and diversifying banks' funding, but it simultaneously warned of potential risks if these markets continue to grow. <br />
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The Bank of England on Friday called for a "comprehensive" solution to sovereign debt woes, to reassure investors and avoid a snowballing of market concerns that could drag a growing number of countries into its midst.<br />
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Lloyds Banking Group PLC (LYG) said Friday that it will have to take further write-downs on its GBP26.7 billion Irish portfolio as the situation in the country worsened, leading to a total impairment charge of GBP4.3 billion for the year.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Lloyds TSB Prices Dollar, Sterling Credit Card ABS Issue </span><br />
U.K. lender Lloyds TSB Friday priced its triple-A rated, asset-backed bonds backed by credit card receivables and denominated in sterling and dollars, according to one of the banks on the deal.<br />
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U.K. banks face further but "manageable" bad-debt write-downs over the next years if the country's economy deteriorates and interest rates rise, the Bank of England said Friday.<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Nov Consumer Confidence Slips To </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">21-Month Low - Nationwide </span><br />
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U.K. consumer confidence dropped to a 21-month low in November, with consumers now more gloomy about the economic outlook over the next six months, a survey from lender Nationwide showed Friday. <br />
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RBS is down 5.7% and Lloyds down 3.6%. AstraZeneca is the biggest faller however down 6.7% on news it faces further delays getting FDA approval for its Brillinta drug. No major UK data due Monday.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US </span><span style="font-size: x-large;">Delayed</span><span style="font-size: x-large;"> AstraZeneca Heart Drug Again</span></div>AstraZeneca PLC's (AZN) new blood-thinning drug Brilinta has again failed to win approval from U.S. regulators, jeopardizing new revenue the group needs to offset the impact of expiring patents on some of its top-selling products.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">BHP Billiton Settles Pay Dispute With South African Workers</span></div>BHP Billiton Ltd. (BHP) said Thursday it has settled a wage dispute with workers at an aluminum smelter in South Africa, bringing to an end a nine-day strike.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BHP Submits Environment Report For Jansen Potash Project </span><br />
BHP Billiton Ltd. (BHP) said Friday it submitted an environmental report for its proposed Jansen Potash Project to the Saskatchewan Ministry of Environment, another sign it is committed to the scheme.<br />
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THURSDAY: The U.K. FTSE 100 Index Closed Unchanged at 5,881.72 <br />
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In London shares of oil giant BP PLC fell 1.4% after the U.S. government filed a civil lawsuit against the firm and eight other companies alleging that negligence and lax safety procedures led to the Gulf of Mexico oil spill earlier this year. <br />
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Shares in Transocean Ltd., which was also named in the suit, slumped 3.7% on the Swiss market. <br />
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WEDNESDAY: FTSE 100 5882.18 <span style="color: red;">-9.03 ( -0.15%)</span> <br />
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FTSE 100 5882.18 -9.03 -0.15%<br />
FTSE 250 11372.81 -37.00 -0.32%<br />
DJ UK Smaller Companies 954.24 -3.11 -0.32% <br />
<i>Thursday's UK data include retail sales at 0930 GMT.</i> <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FTSE Closes Lower Weighed By Euro Debt Concerns</span>FTSE 100 closes down 0.1% at 5882.18 but above earlier lows with support from stronger-than-expected US economic data which also helps Wall Street trade in the black. Concerns over bank exposures to Spanish debt after Moody's warned that Spain's Aa1 rating was under threat, keep a cap on gains, says City Index.<br />
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Capital Shopping Centres closes +4.9%, after the company rejected Simon Property Group's offer. Capital Shopping Centres Group PLC (CSCG.LN) Wednesday rejected an acquisition proposal from shareholder Simon Property Group Inc. (SPG) that values the U.K. company at GBP3 billion, but it postponed a meeting to approve a major purchase that the U.S. shopping-mall owner opposes, allowing time for them to reach agreement or go their separate ways. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">FSA Considers Releasing More Findings In RBS Probe </span><br />
The U.K. Financial Services Authority will ask Royal Bank of Scotland Group PLC (RBS) for permission to publish a report on its 18-month investigation into the bank and the events that led to its near collapse, the agency's chairman said Wednesday following a political outcry over the report's secrecy. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">UK Government - EU Directives Won't Hurt UK Businesses </span></div>U.K. Business Secretary Vince Cable Wednesday announced a new approach to implementing European Union directives into domestic law to ensure British businesses aren't disadvantaged relative to their European competitors.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.K. JOBLESS 2.5 MILLION </span><br />
<i><b>JOBLESS JOLT HIGHLIGHTS RISKS AS UK WADES INTO AUSTERITY</b></i><br />
News that U.K. unemployment topped 2.5 million again in the three months to October has raised fresh concerns about a jobless recovery and recharged a political argument over the government's austerity program. U.K. Prime Minister David Cameron said Wednesday he was "concerned" by the rise in unemployment recorded in the latest data but said the economy is enjoying a recovery.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">UK Housing And Mortgage Markets Seen Flat In 2011</span></div>U.K. housing and mortgage markets are unlikely to improve next year, as economic uncertainty and risk-averse behavior continue to weigh on activity, the Council of Mortgage Lenders said Wednesday. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Ireland Loan Could Earn UK Up To GBP440 Mln </span><br />
The U.K.'s bilateral loan to Ireland would earn some GBP440 million in interest payments and fees if it is fully repaid, Chancellor of the Exchequer George Osborne said Wednesday.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CBI Retail Sales Balance Soars To Highest Since 2002 </span><br />
U.K. retail sales were much stronger than expected in December as consumers rushed to buy goods before a hike in sales tax in January, a survey by the Confederation of British Industry showed Wednesday. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Auditor Refuses Full Sign-Off For Lawmakers' Expenses</span><br />
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In a fresh embarrassment for U.K. lawmakers, the National Audit Office (NAO) said Wednesday it would not fully sign off the expense claims submitted by parliamentarians for the 2009-10 financial year. <br />
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Lawmakers had asked the NAO to run a full audit of the 2009-10 expenses in the aftermath of last year's expenses scandal, which led to dozens of lawmakers stepping down. <br />
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The NAO gave only a qualified sign off to last year's claims, which totaled GBP98.1 million. According to the NAO, lawmakers failed to provide full detail for some GBP2.6 million in claims. Additionally, the NAO said while a further GBP11.3 million was claimed in accordance with parliamentary rules, there was not sufficient evidence for the auditor to confirm the claims were for parliamentary purposes. <br />
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Most of the claims concerned staff costs and lawmakers' second homes and offices. <br />
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Despite the NAO's findings, Commons authorities are only taking action to recover GBP33,794 from parliamentarians. Of that amount, GBP17,612 was paid to lawmakers who have since stepped down or lost their seats. A spokeswoman for the lower house said that was unlikely to be recovered. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">In the spring of 2009, the Daily Telegraph revealed a copy of lawmakers' expense claims for second-home allowances, igniting a scandal that roiled British politics for months. <br />
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The scandal led hundreds of lawmakers from all parties to repay some expense claims, including former Labour Prime Minister Gordon Brown and his Conservative successor David Cameron </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<i>On the economic calendar Wednesday, U.K. unemployment figures and the Confederation of British Industry distributive trades survey are at 0930 GMT and 1100 GMT, respectively.</i><br />
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TUESDAY: FTSE 100 5,891.12 +18.73 (0.5%)<i> </i><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">UK Inflation Rate Reported At 3.3% in November</span></div><i><b>The UK Consumer Prices Index (CPI) annual inflation rate rose to 3.3% in November, up from 3.2% </b></i><br />
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November's inflation rate followed record price rises for the October to November period in food, clothing and furniture. Retail Prices Index (RPI) inflation - which includes mortgage interest payments - rose to 4.7% from 4.5%.<br />
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Food and transport prices are both more than 5% higher than a year ago, ONS figures showed.<br />
Alcohol and tobacco prices have risen by 6.5% in the last year, while clothes and footwear prices are up 2.2%. Food and non-alcoholic drink prices were up by a record 1.6% between October and November.Clothing prices rose by 2%, also a record increase for the October to November period, with the biggest price rises found in men's outerwear. Furniture, household equipment and maintenance also showed a record price rise of 1.6% between October and November.<br />
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Commenting on the inflation figures, BNP Paribas economist Alan Clarke, said: "It's a disappointing number and it's only going to get worse in the next couple of months." Some of the major energy companies have begun to raise energy bills, adding to the squeeze on <br />
household finances. "Basic rate tax payers need to earn 4.13% just to maintain the purchasing power of their savings, while higher rate tax payers at 40% need to earn 5.5%, a level that is only available on a handful of products." <br />
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</div><span style="font-size: x-large;">GERMANY:</span><br />
THURSDAY: The German DAX 30 inched 0.1% higher to 7,024.40 <br />
TUESDAY: Germany's DAX closed flat at 7027.40. <br />
MONDAY<b>:</b> Germany's DAX was 0.3 percent higher at 7,024.96 <br />
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On Thursday Commerzbank AG fell 1.7% in Frankfurt. <br />
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On Tuesday, German economic expectations improved for the second consecutive month in December.Also on Tuesday, Germany would be willing to support the European Central Bank with more capital if the bank said that was necessary, a government official said -- a step that would reinforce the ECB's finances as it tries to contain the continent's debt crisis. <br />
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On Monday, German Chancellor Angela Merkel said she sees no need for an increase of the size of the current financial safety net for troubled euro-zone member states.<br />
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<span style="font-size: x-large;">FRANCE:</span><br />
THURSDAY: The French CAC 40 gained 0.2% to 3,885.36 <br />
TUESDAY: France's CAC-40 index ended 0.3% higher at 3902.87<br />
MONDAY: CAC 40 3,892.44 +35.09 (0.91%)<br />
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<span style="font-size: x-large;">SWITZERLAND:</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">SWITZERLAND LEAVES RATES UNCHANGED</span></div><div style="font-family: Arial,Helvetica,sans-serif;">The Swiss National Bank left its key interest rate on hold Friday as concerns about euro zone's tensions offset robust Swiss economic growth this year. <br />
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<span style="font-size: x-large;">SCOTLAND:</span><br />
WEDNESDAY: <br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Scottish Unemployment Rate Declined</span><br />
Unemployment in Scotland fell by 5,000 to 234,000 in the three months from August to October, according to official figures. The number of Scots claiming Jobseeker's allowance rose by 300 from October, to 135,600 in November. The unemployment rate in Scotland stands at 8.7%, compared with a UK rate of 7.9%.<br />
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<span style="font-size: x-large;">IRELAND:</span><br />
<b>FRIDAY:</b> Dublin Stocks: ISEQ Ends -0.5% At 2,825; Bank Of Ireland -14% <br />
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Moody's Investors Service Inc. downgraded Ireland to Baa1 from Aa2 Friday, keeping its negative outlook, saying the government's financial strength could deteriorate due to pressures from its ailing banks or to slower-than-expected growth in the Irish economy.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Irish Stock Exchange Outlines</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">New Corporate Governance Rules</span><br />
The Irish Stock Exchange Friday published new corporate governance rules for listed companies to provide "a clear and meaningful description" of their remuneration policy and also outline the rationale for the size and structure of company boards. <br />
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Company annual reports should give details of planned or anticipated changes to the board size or structure, set out the specific skills and experience of the board, and, the ISE says, how they are "harnessed to best effect in addressing the major challenges for the company." <br />
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Where a company has not complied with all relevant provisions of the U.K. Corporate Governance Code, it's required to explain the reasons for noncompliance, but the ISE says companies should avoid copying wording contained in the corporate governance disclosures year after year. <br />
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WEDNESDAY: Dublin Stocks: ISEQ Ends Flat At 2,830; Financials Mixed</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Ireland's Lawmakers Vote In Favor Of EU/IMF Bailout</span><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">. Irish</span><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> Public Lost Vote and Country</span><br />
<i><b>The government won with a majority of six votes. </b></i><br />
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Irish lawmakers Wednesday voted to accept EUR67.5 billion in loans from the European Union and International Monetary Fund as part of an EUR85 billion package to shore up Ireland's stricken banks and public finances. <br />
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The passage of the vote is an important victory for Prime Minister Brian Cowen's ruling coalition, although it is expected to lose power in a general election early next year amid widespread dissatisfaction with the government's role in Ireland's financial crisis. <br />
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The EU and IMF money will be used to stabilize Ireland's banks and provide the exchequer with funds while sky-high borrowing costs keep Ireland locked out of capital markets. Ireland is contributing another EUR17.5 billion of its own resources to the rescue package and has agreed bilateral loans with the U.K. and other nations. <br />
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Opposition parties Fine Gael, Labour and Sinn Fein voted against accepting the loans from the EU and IMF, saying they represented a bad deal for the Irish people. <br />
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The Irish government will begin drawing on the funds early in the new year, Finance Minister Lenihan said Dec. 10. <br />
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Ireland is the second euro zone country to receive international aid, after Greece. Ireland turned to the EU and IMF after investors became increasingly reluctant to lend it money because of the huge strain on the public finances of supporting its banks, whose deposits and vast debts were guaranteed by the government in September 2008. <br />
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Cowen's government has embarked on an unpopular austerity drive that aims to reduce Ireland's budget deficit to under 3% of gross domestic product by 2014. <br />
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Tax hikes and cuts to the minimum wage and further reductions on handouts to the poor and the blind have stoked public anger. <br />
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Voters are scheduled to go to the polls once the final pieces of the government's 2011 budget legislation, which lays out EUR6 billion of a total of EUR15 billion of tax hikes and spending cuts over four years, have been passed by parliament. <br />
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TUESDAY:Dublin Stocks: ISEQ Ending Flat At 2,850; AIB -4% <br />
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Shares of Allied Irish Banks PLC sank 4.6%. Late Monday, Allied Irish said it had dropped plans to pay bonuses after Finance Minister Brian Lenihan threatened to withdraw state support extended to the group. <br />
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MONDAY<b>:</b> Dublin Stocks: ISEQ Ends +0.8% At 2,854; Elan +3.5% <br />
FRIDAY:Dublin Stocks: ISEQ Ends -0.5% At 2,832; AIB -12% <br />
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The Irish opposition party Fine Gael said it will discuss its position on the country's EUR67.5 billion aid package at a meeting of senior party figures next week. Ireland's parliament will vote on it Wednesday, Prime Minister Brian Cowen said Thursday.<br />
<br />
<span style="font-size: x-large;">SPAIN:</span><br />
<b>THURSDAY:</b> The IBEX 35 index slipped 0.1% to 10,002.1 <br />
<br />
<span style="font-size: x-large;">RUSSIA:</span><br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Russia Central Bank Withholds Ruble Support</span><br />
<br />
Russia's central bank held off support for the ruble Friday, declining to sell foreign currency for the first time in a month and a half, the deputy chairman said. <br />
<h4 style="font-family: Times,"Times New Roman",serif; font-weight: normal;"><span style="font-size: large;">Russia's Medvedev Hints At 2012 Run</span></h4>A top aide to Russia's President Dmitry Medvedev has given a strong hint that he is considering running for the presidency in 2012, the BBC reports on its website Friday.<br />
<br />
<span style="font-size: large;">RUSSIA AND CHINA LAUNCH NEW FOREX PAIR </span><br />
Preliminary trade for the yuan-ruble pair will begin on Moscow's Micex exchange this week, while China is looking to use rubles to pay for Russian timber, seafood and coal as the two countries seek to strengthen currency ties while sidestepping the dollar. The Micex will trade CNY3 million ($451,000) daily starting Dec. 15, officials at the country's largest market by volume said at a Moscow conference. Both Russia and China have in the last several years called for countries to lessen their reliance on the U.S. dollar. <br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Asian Pacific Markets:</span><br />
Most Asian equity markets have declined Wednesday. Asian stocks fell, dragging down the MSCI Asia Pacific Index from a 2 1/2-year high, as U.S. and Japanese central-bank reports cast doubt on the strength of the global economic recovery.<br />
<br />
<span style="font-size: x-large;">CHINA:</span><br />
<div class="separator" style="clear: both; text-align: center;"></div>FRIDAY: Shanghai 2,893.74 -4.40 (-0.15%) <br />
Hang Seng Index 22,714.85 +46.07 (0.20%)<br />
<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">OFFSHORE TRADING IN YUAN TAKES OFF</span><br />
China's currency is emerging as a hot property in global foreign-exchange markets, just months after Beijing allowed the yuan to be bought and sold outside the mainland for the first time.<br />
<br />
The People's Bank of China fixed the yuan's daily mid-point CNY=SAEC versus the dollar at 6.6531 on Tuesday. The yuan may rise or fall 0.5 percent against the dollar from<br />
its mid-point each day. <br />
<br />
The People's Bank issues mid-point data through the Shanghai-based interbank market, the China Foreign Exchange Trade System, on the market's website:</div><div style="font-family: Arial,Helvetica,sans-serif;"><a href="http://www.chinamoney.com.cn/">http://www.chinamoney.com.cn</a><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA AND PAKISTAN SIGN $20 BILLION DEAL</span><br />
<i><b>China, Pakistan Sign $30 Billion Overall In Deals</b></i><br />
<br />
China and Pakistan signed around $20 billion in deals Friday, boosting trade and investment as Wen Jiabao became the first Chinese premier in five years to visit the nuclear-armed state. <br />
<br />
Pakistan, on the front line of the U.S. war on al Qaeda and battling a Taliban insurgency in its northwest, considers China its closest foreign ally and treated Wen and a massive business delegation to a red-carpet welcome. <br />
<br />
The two countries signed 13 agreements and memorandums of understanding in fields including energy, rail transport, reconstruction, agriculture and culture, Information Minister Qamar Zaman Kaira told reporters. <br />
<br />
"The Chinese government has assured they will fund all the energy projects of Pakistan," he said. "China will provide assistance in 36 projects in Pakistan to be completed in five years," he said. "Basically this is a five-year development plan." <br />
<br />
He said $14 billion will come through a joint economic cooperation group, $5 billion in other business agreements, while deals worth another $10 billion are expected to be concluded at a business leaders' meeting Saturday. <br />
<br />
"Overall the Chinese investment is expected to be around $30 billion," he said. <br />
<br />
"We have unprecedented relations with China. The whole nation is proud of the Pakistan-China friendship," Prime Minister Yousuf Raza Gilani told PTV. <br />
<br />
The Chinese premier held talks with Gilani after being greeted at the airport by Pakistan's entire cabinet and military chiefs, who depend on Chinese hardware, and a guard of honour with a 21-gun salute. <br />
<br />
Wen will meet President Asif Ali Zardari, attend a business cooperation summit and inaugurate a new Chinese cultural center in Islamabad on Saturday. He will address a joint session of the Pakistani parliament before leaving Sunday. <br />
<br />
Although no specific mention was made of nuclear power, talks are believed to be ongoing on China building a one-gigawatt nuclear power plant as part of Pakistani plans to produce 8,000 megawatts of electricity by 2025 and overcome acute energy shortages. <br />
<br />
The West has expressed concern about the security of Pakistan's nuclear material, but China has built a 300-megawatt nuclear power reactor at Chashma in central Punjab province and another of the same capacity is under way. <br />
<br />
Without going into details, officials in Pakistan admit the country has a civil nuclear cooperation agreement with China, a counterweight to India's agreement with the U.S. on nuclear energy cooperation. <br />
<br />
"We have developed an energy cooperation mechanism, it relates to all sectors of energy, including wind, coal and hydro energy," Kaira said <br />
<br />
Pakistan depends on China's financial and political clout to offset the perceived threat from rival India and rescue its economy from the doldrums of catastrophic flooding, a severe energy crisis and poor foreign investment. <br />
<br />
China will open branches of the Industrial and Commercial Bank of China, or ICBC, its top private bank, in Karachi and Islamabad, Kaira said. <br />
<br />
Pakistan's prime minister has expressed hope that trade will rise to between $15 billion and $18 billion over the next five years. "We achieved our targets, the outcome of the visit is beyond our expectations. It is a historic day," Pakistan's ambassador to Beijing Masood Khan said. Pakistan and China have a strategic partnership and "this partnership has been further strengthened," he said. <br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA'S WEN TO EXPAND TIES WITH PAKISTAN</span><br />
Chinese Premier Wen Jiabao arrived in Pakistan Friday for a three-day visit aimed at expanding economic and defense ties, while at the same time assuaging concerns over Beijing's recent friendliness with India. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA AND INDIA TO DOUBLE TRADE</span><br />
India and China said they aim to lift their annual bilateral trade to $100 billion by 2015, illustrating a renewed effort to boost cooperation between the world's two fastest-growing major economies. <br />
<br />
<br />
MONDAY: Shanghai 2,873.84 +32.80 (1.15%)<br />
Hang Seng Index 23,282.30 +119.39 (0.52%) <br />
<br />
Monday, China’s Shanghai Composite Index (CN:SHCOMP 2,874, +32.80, +1.15%) rose 1.3% to 2,879.02 and Hong Kong’s Hang Seng Index (HK:HANGSENG 23,280, +117.24, +0.51%) advanced 0.7% to 23,316.38 <br />
<br />
Chinese shares advanced Monday in relief after the central bank on Friday ordered banks to set aside more cash as reserves but belied expectations for a weekend interest rate increase despite a surge in monthly inflation. China’s stocks rose, pushing up the benchmark index by the most in two weeks, after the central bank refrained from increasing interest rates and government reports showed the economy is withstanding tightening policies. <br />
<br />
In a statement released Sunday in Beijing at the end of the annual Central Economic Work Conference, the nation’s leadership stressed on the need to “put stabilizing the overall price level in a more prominent position” in ranking economic policy priorities. The statement came after both President Hu Jintao and Premier Wen Jiabao addressed the conference.<br />
<br />
Deutsche Bank’s China economist Jun Ma said the statement represented “the official endorsement for continued tightening of monetary policy, including further [interest rate and reserve requirement rate] hikes and slowdown in credit growth.”<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA CPI RAISED TO 5.1%</span><br />
Consumer prices rose a more-than-forecast 5.1 percent from a year earlier. Official data released Saturday showed China’s consumer price index hit the highest level in more than two years. Producer-price inflation was 6.1 percent, higher than any of 28 economists surveyed by Bloomberg News had estimated.<br />
<br />
Saturday’s data showed China’s producer price index also climbed by a faster-than-expected 6.1% from the year-ago period. China’s monthly industrial production jumped 13.3% and retail sales accelerated 18.7%, while urban fixed asset investment for the first 11 months of the year rose 24.9% from the corresponding period of 2009.<br />
<br />
The data came a day after the People’s Bank of China raised banks’ reserve rate requirements by half-a-percentage point.<br />
<br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: large;">EQUITY NEWS: </span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">CHINA MOLYBDENUM PLANS TO ISSUE</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;"> UP TO 542 MILION A SHARES IN CHINA IPO </span><br />
China Molybdenum Co., China's largest molybdenum producer by output, said Sunday it plans to sell up to 542 million yuan-denominated A shares in an initial public offering in mainland China to fund its expansion...<br />
<br />
<br />
FRIDAY: China's central bank on Friday increased the amount of money that lenders must keep on reserve for the third time in one month. The statistics bureau brought forward the release of economic data to Dec. 11 from Dec. 13, signaling to some economists including Societe Generale SA’s Glenn Maguire that a rate increase could come as early as the weekend. Instead, the central bank boosted reserve requirements by 50 basis points starting Dec. 20, the third increase in five weeks. <br />
<br />
<br />
<span style="font-size: x-large;">JAPAN:</span><br />
FRIDAY: Nikkei 225 10,303.83 -7.46 (-0.07%) <br />
WEDNESDAY:Nikkei 225 10,309.78 <span style="color: red;">-6.99 (-0.07%)</span><br />
TUESDAY: Nikkei 225 10,316.77 +22.88 (0.22%)<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">JAPAN'S BUSINESS CONFIDENCE FADES</span><br />
<br />
Japanese stocks declined after the Tankan index of sentiment issued its confidence among Japan’s largest manufacturers. The Nikkei 225 declined to 10,312.96, losing -3.81 (-0.04%)<br />
<br />
Confidence among Japan’s largest manufacturers worsened for the first time since the end of the financial crisis last year as a stronger yen erodes export gains and the effect of government stimulus measures fades.<br />
<br />
The quarterly Tankan index of sentiment at large manufacturers dropped to 5 in December from 8 in September, the Bank of Japan said in Tokyo. A positive number means optimists outnumber pessimists. Sentiment is expected to fall to minus 2 in March, and companies submitted the strongest forecast for the yen since data began in 1996, the data also showed. <br />
<br />
Today’s report adds to concern that Japan’s economy may contract in the fourth quarter, and buttresses the case for the Bank of Japan to consider more monetary stimulus. Data for October showed industrial output fell by the most since February 2009, export growth moderated and the jobless rate rose. Japan’s jobless rate rose to 5.1 percent in October. <br />
<br />
Japan’s gross domestic product is expected to decline at a 1.9 percent annual pace in the three months through December, according to a survey of 42 economists released Dec. 8 by the Economic Planning Association.<br />
<br />
MONDAY: Nikkei 225 10,235.73 +23.78 (0.23%) <b><br />
</b><br />
The benchmark Nikkei closed the morning session up 0.1 percent or 14.69 points at 10,226.64.The broader Topix index advanced 0.2 percent to 890.05.<br />
<br />
Japan's Nikkei average climbed slightly on Monday on the yen's recent weakness. The yen's weakness is helping to bolster exporters, commodities and Japanese stocks move higher. The market is under some pressure today but Tokyo stocks remain very firm as prospects for the global economy and global shares are improving. <br />
<br />
Nikon Corp fell 1.2 percent to 1,601 yen, extending losses after Goldman Sachs cut its rating to "sell" from "neutral" and added the stock to its "conviction sell" list on Friday. The brokerage also lowered its target share price to 1,340 yen from 1,450 yen.<br />
<br />
Copper smelter Furukawa Co Ltd climbed 3 percent to 104 yen after copper prices rose near record highs on bullish Chinese import data and upbeat U.S. consumer sentiment that boosted the demand outlook.<br />
<br />
Japan's prime minister on Monday ordered cabinet ministers to lower the corporate tax burden by 5 percentage points from the fiscal year starting in April in a bid to improve the competitiveness of firms in the country. <br />
<br />
The cut in the effective tax rate for Japanese companies, which is higher than most major economies at around 40 percent. The finance ministry says the government would lose about 1.5 trillion yen ($18 billion) in tax revenue from the cut and that the loss must be made up by expanding the tax base.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<br />
<span style="font-size: x-large;">SOUTH KOREA:</span><br />
<b>TUESDAY:</b> KS11 KOSPI Seoul Composite Index 2,002.55 Up 6.98 (0.35%)<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Un-Employment Drops in South Korea </span><br />
South Korea’s unemployment rate unexpectedly fell to a six- month low of 3.2 percent in November as the nation’s economic expansion encouraged manufacturers to hire more workers, Statistics Korea said in Gwacheon today. <br />
<br />
MONDAY: KS11 Seoul Composite Up 10.45 (+0.53%) <br />
South Korea’s won rose to a two-week high.<br />
<br />
<span id="intelliTxt">Monday, South Korea's Hana Financial Group Inc. said it aims to raise KRW1.2 trillion via a private placement of shares to help fund its KRW4.69 trillion acquisition of a majority stake in Korea Exchange Bank . (published 0222 GMT) </span><br />
<br />
<br />
<span style="font-size: x-large;">SINGAPORE:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Singapore Exchange Proposed Purchase of ASX Cleared by Regulator</span><br />
<br />
Singapore Exchange Ltd. ’s bid for ASX Ltd. , operator of the Australia’s main bourse, has been cleared by the nation’s competition regulator.<br />
<br />
The deal wouldn’t adversely affect competition in exchange services, the Australian Competition and Consumer Commission said in a statement today. A key focus of its investigation was whether the acquisition of ASX would deter entry into the Australian market of rival Chi-X Australia Pty and other competitors due to SGX’s links with Chi-X Global Inc., it said.<br />
<br />
Singapore Exchange offered to buy ASX on Oct. 25 for A$8.4 billion ($8.4 billion) in a cash and share deal that would create the world’s fifth-largest listed exchange company. Based on SGX’s closing share price yesterday, the value of the deal was A$7.8 billion. <br />
<br />
<br />
<a href="http://www.bloomberg.com/news/2010-12-14/singapore-exchange-bid-for-asx-cleared-by-australian-competition-regulator.html">http://www.bloomberg.com/news/2010-12-14/singapore-exchange-bid-for-asx-cleared-by-australian-competition-regulator.html</a><br />
<br />
<br />
<br />
<span style="font-size: x-large;">AUSTRALIA:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">FRIDAY: S&P/ASX 200 4,763.10 -20.90 (-0.44%) <br />
WEDNESDAY: S&P/ASX 200 4,767.80 +0.90 (0.02%) <br />
AORD ASX All Ordinaries Index 10:41pm EST 4,845.00 -1.10 (-0.02%)<br />
<br />
TUESDAY: S&P/ASX 200 4,766.50 +9.40 (0.20%) <br />
AORD ASX All Ordinaries Index 10:41pm EST 4,847.00 +5.80 (+0.12%) <br />
<br />
TUESDAY:<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BORROWING COSTS TO DECLINE </span><br />
Australia’s four biggest banks may cut borrowing costs by as much as 40 percent selling covered bonds after European lenders pushed sales of the asset-backed debt to a record.<br />
<br />
MONDAY<b>:</b> S&P/ASX 200 4,764.90 +19.00 (0.40%)<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;"><span style="font-size: x-large;">AUSTRALIAN BANK REFORM</span> </span><br />
<br />
Measures to rein in Australian banks fell short of public expectation Sunday when the government said it would improve banking competition in Australia but wouldn't directly punish the four dominant banks.<br />
<br />
<br />
Australia's government on Sunday introduced a series of measures aimed at improving banking competition in a country where four large banks are raising lending rates despite bumper profits. Treasurer Wayne Swan said the government will inject an additional four billion Australian dollars ($3.94 billion) into securitization markets, while also allowing the issuance of covered bonds. <br />
<br />
Banking competition has been a hot-button issue in Australia in the last month after the country's four largest banks each raised home lending rates beyond a one-quarter-point increase by the central bank. The lending increases threaten to have a broad economic impact, with consumer spending making up roughly two-thirds of Australia's economy.<br />
<br />
<br />
<span style="font-size: large;">EQUITY NEWS: </span><br />
<span id="intelliTxt">Transfield Services Ltd. said Monday it has agreed to acquire Australian well services company Easternwell for A$575 million and will partly fund the deal with a A$294 million equity raising. (published 2213 GMT) </span><br />
<br />
<br />
<br />
<span style="font-size: x-large;">NEW ZEALAND:</span><br />
<b>TUESDAY:</b> NZX 50 INDEX 3,294.98 Up 3.69 (0.11%) <br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">TELECOM NZ SELECTED AS PREFERRED BIDDER FOR BROADBAND NETWORK </span><br />
Telecom Corp of New Zealand Ltd. has been selected as a preferred bidder to build three quarters of New Zealand's NZ$3 billion broadband network, the government said Monday, a move that makes it more likely it will participate in the nationwide build. (published 0341 GMT)<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">NEW ZEALAND MINE DISASTER FORCED COMPANY IN RECEIVERSHIP </span><br />
Weeks after a series of explosions killed 29 miners in New Zealand the mine's owner Pike River Coal Ltd was placed on Monday in receivership, marking another blow to the country's mining industry. <br />
<br />
<br />
<br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(FRIDAY, DEC 17, 2010 2:00 PM EST)</b></i><br />
<br />
EUR/USD 1.3154 -0.0086 (-0.65%)<br />
USD/JPY 84.1600 +0.1300 (0.15%)<br />
GBP/USD 1.5478 -0.0153 (-0.98%)<br />
USD/CAD 1.0125 +0.0064 (0.64%)<br />
USD/HKD 7.7771 +0.0012 (0.02%)<br />
USD/CNY 6.6545 -0.0090 (-0.14%)<br />
AUD/USD 0.9853 -0.0044 (-0.44%)<br />
<br />
<br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(FRIDAY, DEC. 17, 2010 2:00 PM EST)</b></i><br />
<br />
Shanghai 2,893.74 -4.40 (-0.15%)<br />
Nikkei 225 10,303.83 -7.46 (-0.07%)<br />
Hang Seng Index 22,714.85 +46.07 (0.20%)<br />
TSEC 8,817.90 +35.70 (0.41%)<br />
FTSE 100 5,871.75 -9.37 (-0.16%)<br />
DJ EURO STOXX 50 2,821.77 -24.01 (-0.84%)<br />
CAC 40 3,867.35 -21.01 (-0.54%)<br />
S&P TSX 13,198.15 +16.92 (0.13%)<br />
S&P/ASX 200 4,763.10 -20.90 (-0.44%)<br />
BSE Sensex 19,864.85 +65.66 (0.33%)<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FRIDAY'S U.S. ECONOMIC CALENDAR:</span><br />
<b>10:00 a.m.</b><br />
Nov Leading Indicators Leading Index (expected +1.2%), Coincident Index (previous +0.1%), Lagging Index (previous +0.1%)<br />
<br />
<br />
<br />
<b>EARNINGS REPORTS:</b> <br />
<br />
Best Buy, FedEx, General Mills Inc. (GIS) and Research in Motion Ltd. (RIMM, RIM.T) are among the companies set to report their latest quarterly results next week. All four companies are expected to report revenue and profit growth from a year ago. <br />
<br />
Oracle will announce its fiscal second-quarter results Thursday. Wall Street expects BlackBerry maker RIM, which is set to report Thursday, to post the most impressive growth. The company issued strong guidance for the fiscal third quarter in November.<br />
<br />
The Department of Commerce's retail-sales report for November is expected to show growth of 0.8%, and 0.6% excluding motor vehicles and parts, according to Briefing.com. The results come after strong October growth, as consumers become more confident about the economic climate, although high unemployment remains a concern.<br />
<br />
Housing starts and building permits data for November are due out Thursday, with both metrics expected to report an increase from October's disappointing showing. Still, housing starts are at extremely low levels and the outlook is still murky amid high levels of unsold new homes.<br />
<br />
The Consumer Price Index, a measure of the price level of a fixed market basket of goods and services purchased by consumers, is again projected to inch up in November,<br />
<br />
<br />
<br />
<b>ECONOMIC CONFERENCES:</b> <br />
<br />
Among the significant conferences next week are the Imperial Capital LLC The Security Investor Conference in the District of Columbia on Monday and Tuesday; the Bank of America Merrill Lynch Global Industries Conference in New York Tuesday through Thursday; the Deutsche Bank Securities Inc. BioFEST Conference in Boston on Tuesday and Wednesday; the Raymond James IT Supply Chain Conference in New York Tuesday; the Roth Capital Partners Infant, Juvenile and Toy Conference in New York Tuesday; and the First Midwest Securities Inc. Small Cap Ideas Conference in New York Thursday. <br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, THURSDAY, DEC. 16, 2010:</span><br />
<br />
<b>Stocks:</b><br />
U.S. equities closed higher Thursday. In afternoon trades U.S. stocks broadly rose Thursday, fueled by the industrial sector. The dollar declined 26% leading equities and commodities back up. U.S. equities closed higher Thursday with the Dow finishing up 41 points today to close at 11,499.25, the S&P added 7 points to end at 1242.87, and the Nasdaq gained 20 points to finish at 2637.31 for the day. <br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>Treasurys:</b><br />
Treasury prices rose as key yields at seven-month high brought in some buyers. The rebound provided some relief for a market that has been heavily beaten over the past week. <br />
<b>Forex:</b><br />
The euro rose marginally against the dollar, as traders awaited details from a European Union summit that might indicate a permanent solution to the euro zone's debt crisis is at hand.<br />
<br />
<br />
<br />
<br />
<br />
© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-19821725799862274712010-12-05T23:40:00.000-08:002010-12-13T20:05:58.875-08:00Stock Market Update - Dec, 6-10, 2010 Cautious Choppy Trend<div style="font-family: Arial,Helvetica,sans-serif;">Stock Market Update</div><div style="font-family: Arial,Helvetica,sans-serif;">Friday, December 10, 2010</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="separator" style="clear: both; font-family: Arial,Helvetica,sans-serif; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>USA EQUITY INDEXES: (DEC. 10; 4:05 PM EST)</b></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>==(FRIDAY'S CLOSING INDEX NUMBERS)==</b></i><br />
<br />
Dow Jones 11,410.32 <span style="color: #274e13;">+40.26 (+0.35%)</span><br />
S&P 500 1,240.40 <span style="color: #274e13;">+7.40 (+0.60%)</span><br />
Nasdaq 2,637.54 <span style="color: #274e13;">+20.87 (+0.80%)</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b>Dow Jones Closing Averages 12/10/2010: DJIA 11,410.32 UP 40.26</b><br />
30 INDUS 11,410.32 UP 40.26 OR 0.35%<br />
20 TRANSP 5,099.38 UP 15.71 OR 0.31%<br />
15 UTILS 397.39 UP 1.94 OR 0.49%<br />
65 STOCKS 3,988.22 UP 14.43 OR 0.36%</div><br />
<div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>US COMMODITY PRICES: (DEC. 10, 4:05 PM EST)</b><br />
Crude Oil 87.81 + 0.02%<br />
Natural Gas 4.43 + 0.23%<br />
Gasoline 2.31 -<br />
Heating Oil 2.46 -<br />
Gold 1386.61 - 0.05%<br />
Silver 28.63 - 0.45%<br />
Copper 4.11 + 0.76%<br />
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<br />
<i><b>US DOLLAR FUTURES INDEX DXY: DEC. 10:<span style="font-size: small;"> </span></b></i><small><span style="font-size: small;"><b><span id="yfs_t10_dx-y.nyb">4:05 PM EST: 80.06 <span style="color: red;">Down 0.01 (0.01%)</span></span></b></span></small></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. Dollar Paused, Stocks Rise Mixed, Commodities Mixed to Lower</span></div></div><div style="font-family: Arial,Helvetica,sans-serif;"> U.S. stocks edged up at the close as the dollar relaxed its gains, and as a surge in U.S. October exports and brightening consumer sentiment encouraged investors. At the market close Friday the Dow added 40 points today to 11410, the S&P gained 6.85 points to 1239.85, and the Nasdaq rallied 20 points to 2637. <br />
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In afternoon trading. General Electric led with a 3.2% gain after the conglomerate raised its quarterly dividend 17%, its second increase this year. <br />
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Procter & Gamble rose 0.9% after Goldman Sachs upgraded its investment rating on the stock to buy from neutral. The firm said Wall Street is underestimating the consumer-products giant's growth in emerging markets, adding that "the opportunity is enormous." <br />
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The Nasdaq Composite added 0.67% to 2634. The Standard & Poor's 500-stock index edged up 0.46% to 1238. The S&P 500 is up 1.1% for the week, while the Dow is up just 0.1% for the period.<br />
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On Saturday, China's statistics agency is due to publish data that economists expect will show accelerating consumer price inflation, reinforcing the case for tighter policy. China also remains under pressure from other nations to allow its currency to appreciate more quickly. <br />
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The dollar fluctuated between small gains and losses, with the U.S. Dollar Index, tracking the U.S. currency against a basket of six others, being flat recently. Crude-oil futures fell, as did gold futures.<br />
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<div style="color: #e06666; font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. BANK FAILURES:</span></div><span style="font-size: large;"><b>The FDIC Closed Banks Friday After Hours</b></span><br />
The U.S. Government FDIC regulators closed several US Banks late Friday and seized all assets.The Federal Deposit Insurance Corp announced it closed additional banks. Friday's announcement brings the total failures for 2010 to 146. <br />
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Earthstar Bank, Southampton, PA., December 10, 2010<br />
Paramount Bank, Farmington Hills, MI., December 10, 2010<br />
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<span style="font-size: small;">To see the complete list of failed banks and credit unions visit:</span><br />
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<span style="font-size: large;">Online Consultancy Network™ Bank Failure List</span><br />
<a href="http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html">http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html</a> <br />
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In Friday Morning Trades... <br />
U.S. stocks rose Friday morning following an unexpected narrowing in the U.S. trade deficit for October on surging exports, but the gains were slim as China unveiled plans for more tightening. <br />
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The Dow Jones Industrial Average climbed 10 points, or 0.1%, to 11380. Procter & Gamble led the measure's gain with a 1.1% increase while United Technologies was also strong, up 0.7%. Keeping the gains in check, Bank of America fell 0.7% and Pfizer slipped 0.6%. <br />
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The Nasdaq Composite added 0.1% to 2619. The Standard & Poor's 500 index advanced 0.2% to 1235, with all its sectors in the black. Industrials were in the lead. <br />
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The gains came as the U.S. trade deficit for October unexpectedly narrowed as exports surged to their highest levels in more than two years and the trade gap with China fell. The total U.S. deficit in international trade of goods and services fell more than 13% to $38.71 billion from a revised $44.60 billion the month before, the Commerce Department said. Economists had predicted a $44.0 billion trade gap. <br />
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The U.S. trade deficit with China narrowed 8.3% to $25.52 billion as exports to the country surged nearly 30% to a record $9.30 billion and imports fell slightly to $34.82 billion. <br />
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U.S. import prices rose 1.3% in November, easing deflation concerns and suggesting a little inflationary pressure within an economy struggling to recover from a deep recession. Economists were expecting an 0.8% increase. <br />
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Trade data from China also topped expectations, with exports and imports both soaring to records in November, while the country's trade surplus narrowed to $22.9 billion from October's $27.15 billion. The surplus was greater than economists' $22.3 billion median forecast. <br />
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China's central bank said it will raise banks' reserve requirement ratio by 0.50 percentage points, the sixth such hike this year and third in a month. The move will reduce the amount of money China's banks have available to lend. <br />
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The euro fell to $1.3217 as the IMF said it will postpone the board vote on the Irish bailout. The dollar edged higher, with the U.S. Dollar Index, tracking the U.S. currency against a basket of six others, off 0.1%. Crude-oil futures rose while gold futures slipped.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. DEFICIT $150.4 BILLION</span><br />
<i><b>The U.S. budget deficit in fiscal 2010, at $1.294 trillion, was the second-highest ever, behind the record 2009 deficit of $1.416 trillion. </b></i><br />
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The U.S. government ran its 26th straight monthly budget deficit in November. The Treasury Department, in its regular budget monthly statement, said the government spent $150.4 billion more than it collected in the second month of fiscal 2011.<br />
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The Treasury report, detailing the government's spending programs, prompted an economic research firm, Macroeconomic Advisers, to lift its forecast for economic growth from October through December by four-tenths of a percentage point, to 2.7%. <br />
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Last month's red ink pushes up the deficit to $290.8 billion for the fiscal year, which began Oct. 1. That figure is a little smaller than the deficit during the same period last year. But President Barack Obama's administration expects the deficit to top $1 trillion in this fiscal year. <br />
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Washington has spent in excess of $1 trillion during each of the last two fiscal years. The deep recession not only reduced tax revenues but also raised expenses, including the cost of compensating workers left unemployed. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The budget statement Friday said federal spending totaled $585.7 billion so far this fiscal year, with revenues at $294.9 billion. In the last two months, the federal government spent $128.3 billion on defense, $36.8 billion in interest payments on its debt, and $20.0 billion for unemployment benefits. <br />
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The U.S. Commerce Department Friday's report showed that the real, or inflation-adjusted, deficit, which economists use to measure the impact of trade on GDP, decreased to $45.17 billion in October from $50.34 billion the month before. <br />
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The total U.S. deficit in international trade of goods and services shriveled more than 13% to $38.71 billion from an upwardly revised $44.60 billion the month before, the Commerce Department said Friday. The September trade gap was originally reported as $44.00 billion. <br />
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U.S. exports rose 3.2% to $158.72 billion, their highest level since August 2008, after the previous month's $153.78 billion. Exports of services hit a record $46.42 billion. Imports fell marginally to $197.44 billion from $198.37 billion in September. <br />
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The trade coincided with another strong gain in import prices, which rose 1.3% on the month, primarily driven by petroleum prices. <br />
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The U.S. bill for crude oil imports in October fell to $18.88 billion from $20.96 billion the month before. The price of oil increased $1.82 to $74.18 a barrel, though U.S. consumption declined to 254.48 million barrels from 289.69 million. <br />
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The U.S. paid $24.99 billion for all types of energy-related imports, down from $26.62 billion in September. <br />
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Crude oil sales pulled down the purchases of industrial supplies, while capital goods such as computers contracted $904 million. Imports of consumer goods including clothes, however, grew by $1.26 billion. <br />
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U.S. exports surged across the board, including record sales of foods, feeds and beverages, which rose $735 million to $9.91 billion. Exports of industrial supplies increased $2.60 billion, driven by chemicals and plastics, besides refined petroleum products. Capital goods grew $374 million, while auto and parts posted a $430 million gain. <br />
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Although the U.S. trade gap with China shrank, the deficit with several other major trading partners expanded. <br />
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The deficit with the euro-area grew 24.8% to $5.96 billion, while the gap with Japan rose to $5.67 billion from $5.04 billion and the deficit with Canada grew slightly to $1.09 billion. Trade with Mexico saw both record high exports and imports, putting the deficit down to $5.75 billion from $5.77 billion.<br />
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<i>The Commerce Department report on trade can be found at</i>: <a href="http://www.census.gov/ft900">http://www.census.gov/ft900</a>.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">REUTERS/UNIVERSITY MICHIGAN SENTIMENT RISES</span><br />
A segment of U.S. consumers are feeling more upbeat about the economic outlook, as evidenced by a Reuters/University of Michigan consumer sentiment index showing a 74.2 reading for December from 71.6 at the end of November.<br />
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BEFORE THE BELL:<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Stocks Poised to Edge Higher</span><br />
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Stock index futures rose on Friday following encouraging data out of China. Stock futures hinted at slight gains when Wall Street kicks off Friday's session as the bulls attempt to nudge the Dow to fresh 2010 highs.<br />
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The U.S. Trade deficit declined to $13.8 billion dollars and the U.S. Import prices increased 1.3% in November. <br />
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China increased the reserve requirement for banks but kept interest rates on hold.The move was a milder form of monetary tightening after expectations that China could raise rates to rein in its red-hot economy,<br />
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China's central bank, on Friday, increased the amount of money that lenders must keep on reserve for the third time in one month, a move to mop up excess cash in the economy and rein in inflation. <br />
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The Dow Jones Industrials ended another low volume session Thursday slipping 2.42 points or 0.02% to 11370.06 but the Nasdaq Composite gained 7.51 points or 0.29% to 2626.67. The broader S&P 500 advanced 4.72 points or 0.38% to 1233.00.<br />
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The latest round of economic data left investors with a mixed picture of the economy. Initial unemployment claims fell more than expected last week, but the previous week's figures were revised slightly upward. Inventories of U.S. wholesalers rose more than expected in October, while fast-growing sales also signaled some underlying support for the economy, but the pace of the rise in inventories still exceeded the gains in sales. <br />
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Investors also kept a close eye on the bond market following slumping demand there in recent days that prompted sharp gains in bond yields. <br />
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At mid-day the dollar regained its upward line causing equity and commodities to relax their gains on the days trading.<br />
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Traders also remain wary of the prospect of an interest rate hike in China this weekend. Any sign of an economic slowdown in China. <br />
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At the market open, the dollar declined in early morning trades, U.S. stocks edged higher. Thursday, financials lead the modest gains following an upgrade to a group of asset managers and an encouraging weekly jobs report. <br />
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The Dow Jones Industrial Average rose 13 points, or 0.1%, to 11387. The Nasdaq Composite gained 0.4% to 2619. The Standard & Poor's rose 0.3% to 1232, with all but one of its sectors in the black. <br />
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The dollar strengthened against the euro on reports that the bailout of Ireland could face obstacles from the country's opposition party. The ICE Dollar Index, which tracks the greenback against a basket of trade-weighted currencies, rose to 80.365 from 79.997. <br />
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BEFORE THE BELL <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. Jobless Claims Declined Last Week</span><i><b> </b></i><br />
<span style="font-size: large;"><i><b>421,000 More American's Lost Their Jobs Last Week</b></i></span><br />
<i>Almost 6 million Americans looked for work but weren't able to find employment at all last year, a new report shows.</i><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The number of U.S. workers filing new claims for jobless benefits fell last week by more than economists expected. Initial unemployment claims fell by 17,000 to 421,000 in the week ended Dec. 4, the Labor Department said Thursday in its weekly report. The previous week's figures were revised slightly upward to 438,000 from 436,000. <br />
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Futures point to a higher open Thursday morning. U.S. futures for the S&P 500 up 0.3 percent, the Dow Jones futures up 0.3 percent and Nasdaq 100 futures up 0.2 percent as the dollar declines.<br />
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In currencies, the dollar slipped to 83.80 yen from 84.01. The euro rose to $1.3293 from $1.3261. The US dollar’s fundamental outlook is generally bearish. The US Dollar Index is testing support level at 79 after breaking its rising trendline. Failure would warn of a decline to test primary support at 75.50.<br />
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$EURUSD: Looks to have regained its footing back above 1.3200 after its brief dip lower after the Ireland downgrade by Fitch. The U.S. Economic forecast is anemic, the Fed isn’t expected to lift rates until at least late-2011 and the bill for today’s stimulus promises to extend the financial pain for some time.<br />
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At 8:30AM EST look for the Government's Weekly Unemployment Insurance Claims Report and Initial Claims Weekly Jobless Claims <br />
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World stock markets mostly advanced Thursday after Japan's third quarter GDP was revised higher and the extension of U.S. tax cuts boosted expectations of stronger economic growth in the short-term. <br />
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<b>Wednesday:</b> U.S. equity index's closed up, but only showing minor gains in a low volume, choppy trading pattern Wednesday. The Dow added 13 points today to 11372.48, the S&P rose 4 points to 1228.28, while the Nasdaq gained 10 points to close at 2609.16. <br />
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U.S. stocks slipped as the rising dollar pushed down commodity prices, weighing on the broader stock market. U.S. stocks moved in and out of negative territory as rising financial stocks outweighed declines in the materials sector in another day of choppy trading. <br />
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The Dow Jones Industrial Average crept up less than one point to 11360 in mid-day trading, while the Standard & Poor's 500-stock index edged up two points to 1226 and the Nasdaq Composite added eight points to 2607. <br />
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The dollar's gain sent commodity prices lower, hitting the stocks of materials, energy and industrial companies. <br />
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The Dow Jones Industrial Average fell 24 points to 11336 in mid-morning trading, while the Standard & Poor's 500-stock index was off three points to 1221 and the Nasdaq Composite dropped two points to 2596. <br />
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The dollar's gain sent commodity prices lower, hitting the stocks of materials, energy and industrial companies.The dollar continued to strengthen against other major currencies. The euro fell to $1.3215 while the greenback rose 0.9% against the yen to trade at 84.16 yen to the dollar. DuPont fell 1.2%, while Caterpillar shed 0.8%.<b><i> </i></b><br />
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Consumer discretionary stocks were also under pressure, weighed by a 2.1% decline at McDonald's. The fast-food chain led declines among Dow components after reporting same-store sales rose 4.8% in November, driven by its McRib sandwich, but fell short of analysts' estimates. <br />
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Pulling on the other side were financial stocks, fueled by gains at smaller regional banks. Lincoln National rose 4.7%, Regions Financial gained 1.2% and Zions Bancorp added 1.9%. Morgan Stanley also gained 1.9% after the consortium of investors buying the investment bank's 34.3% stake in China International Capital all won their necessary approvals.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">SEC DELAYS DECISION ON PLAN TO LIST PENNY STOCKS</span><br />
US agency begins proceedings to determine whether to disapprove Nasdaq OMX's application for a new-listing market focused on penny stocks, a decision that will at best delay Nasdaq's plans for the listings business. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">FITCH SAYS CREDIT-CARD CHARGE-OFFS DOWN</span><b><br />
</b>Charge-offs among prime-rated U.S. credit-card borrowers are down slightly from a month earlier in October but remain in "stubbornly high territory" as delinquencies continue to ease, according to data from Fitch Ratings.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">58 MILLION AMERICAN'S BLOCKED</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> FROM COST-OF-LIVING ADJUSTMENT</span><br />
<i><b>House Defeats $250 Payment To Seniors and Veterans</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
House lawmakers defeated a Democratic attempt to provide a one-off $250 payment to seniors, veterans and disabled people, after Republicans united to block the legislation. <br />
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The bill would have provided the payment to account for a cost of living increase for 2010. Lawmakers brought the bill forward after the Social Security Administration determined there would be no automatic cost-of-living adjustment because the inflation measure it uses recorded no increase in 2010.<br />
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The White House strongly urged its passage, saying it would provide much-needed financial assistance to 58 million people.<br />
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BEFORE THE BELL:<br />
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U.S. stocks edged up Wednesday morning as the dollar reled its gain and the tech sector begain to lead the market upward. The dollar extended its gains against other major currencies. The euro was flat while the greenback rose 0.7% against the yen to trade at 84.03 yen to the dollar. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The Dow Jones Industrial Average gained 26 points at 11385 in early trading, while the Standard & Poor's 500-stock index added five points to 1229 and the Nasdaq Composite gained 13 points to 2611. <br />
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Tech stocks led the gainers, while advancers among the smaller regional banks lifted the financial sector. Lincoln National Corp. rose 4.7%, Regions Financial gained 2.8% and Zions Bancorp added 1.5%. <br />
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Offsetting the advancers were consumer discretionary stocks, which were weighed by a 1.9% decline at McDonald's. The fast-food chain led declines among Dow components after reporting same-store sales rose 4.8% in November, driven by its McRib sandwich but lower than analysts' estimates. <br />
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Commodity prices weakened as the dollar rose, with gold futures dropping more than 1% to back below the $1,400 mark. Treasury yields also continued to rise following the U.S. deal to extend tax cuts, pushing the yield on the benchmark 10-year note to 3.223%. A $21 billion auction of 10-year notes will be closely watched at 1:00 p.m. EST. <br />
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With little on the economic calendar, investors focused on news in the corporate sector, where Costco Wholesale slipped 0.6% after the retailer's first-quarter earnings rose 18%, beating market expectations, on a sales increase of 11%. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
U.S. Stock futures traded flat to slightly lower Wednesday morning, as the dollar lifted against other currencies, signaling the bulls that they may face continued resistance.<b> </b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MORTGAGE APPLICATIONS DECLINE</span><b><br />
</b>The number of mortgage applications in the US fell last week as higher lending rates led to a fourth straight decline in refinancing.<b><br />
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<b>TUESDAY:</b> Small gains are expected across most sectors today in another day of choppy trading.<br />
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By mid-day the market saw that the U.S. dollar is now pricing in expectations that the Federal Reserve's controversial bond-buying program will buttress economic growth and help support the dollar in the near term. Traders appeared to agree, as the greenback changed hands above $1.33 against the euro in late U.S. trading, a cent higher than the previous session. Markets were also preparing for the risk of disappointment from a meeting of euro-zone finance ministers in Brussels, which undermined the euro.<br />
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The S&P 500 index rose 0.5% to 1230 recently after hitting 1235.05, its highest intraday level since Sept. 22, 2008. The industrial sector led the measure's broad climb. <br />
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The Dow Jones Industrial Average rose 45 points, or 0.4%, to 11407. The measure came within close reach of its September 2008 highs. It hit an intraday high of 11450.89, just shy of the 11451.53 level hit Nov. 5 that the Dow will need to surpass to reach its September 2008 highs. General Electric led the measure's gains with a 2.6% increase while Caterpillar was also strong, up 2.4%. <br />
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The Nasdaq Composite added 0.6% to 2611. The Russell 2000 index of small-capitalization stocks, often viewed as a measure of the market's appetite for risk, climbed 0.8% to 767. Earlier in the session, the small-cap index hit a fresh two-year intraday high at 769.02.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">AMERICAN'S ARE BORROWING MONEY</span></div><br />
<i><b>US Consumer Borrowing Rises For Second Straight Month In Oct. Sept. Consumer Credit Revised To $1.2B From Up $2.1B </b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Tuesday's report confirmed U.S. spending by consumers is modest, a trend that is restricting the economy from growing strongly out of recession. A high U.S. unemployment rate, which climbed to 9.8% in November, and falling home prices have held back spending, which is a big driver of the economy. <br />
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U.S. consumer borrowing unexpectedly climbed again in October as a jump in student loans offset the 26th consecutive decline in credit-card use. <br />
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Consumer credit outstanding increased at a seasonally adjusted annual rate of 1.7%, up by $3.4 billion to $2.4 trillion, a Federal Reserve report said Tuesday. <br />
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The gain was the second in as many months following 19 straight losses. Economists surveyed by Dow Jones Newswires had predicted a $2 billion decline in October consumer credit. <br />
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The data Tuesday showed the October gain was driven by another big increase in student loans, a category that pushed up overall consumer credit in September by $1.2 billion. <br />
The report on October borrowing showed revolving credit decreased $5.6 billion, or 8.4%, to $800.5 billion. The last time credit-card debt rose was August 2008. <br />
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<i><b>About 8 million consumers stopped actively using credit cards over the past year,</b></i> according to the credit-reporting group TransUnion. In a report Nov. 29, it said credit-card delinquencies continued declining amid tighter lending standards by banks. <br />
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The Fed report Tuesday said non-revolving credit rose 6.8%, or $9 billion, to $1.6 trillion. The category includes loans for cars, tuition, and boats. <br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">ISM SEES US RECOVERY GAINING STRENGTH IN 2011</span></span><br />
The U.S. recovery will pick up steam next year, although jobs will remain a sticking point, according to the semiannual forecast by the Institute for Supply Management. <br />
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In the early market trading the Dow Jones Industrial Average rose 85 points, or 0.8%, to 11447. All but one of the Dow's 30 components climbed. Caterpillar and Bank of America were in the lead, up 1.7% each, while Alcoa was also strong with a 1.6% increase. The lone decliner was 3M, off 1.2% as the low end of the manufacturing giant's 2011 forecast for earnings and revenue came in below analysts' estimates. <br />
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The Nasdaq Composite added 1% to 2620. The Standard & Poor's 500 index rose 0.9% to 1234, with all of its sectors in the black. The energy sector had the biggest gains as crude-oil futures topped $90 a barrel.<br />
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The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, slipped 0.4%. The euro rose to $1.3386. Treasurys also fell, lifting the yield on the 10-year note up to 3.05%. Gold futures also advanced. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">U.S. LCD-TV SHIPMENTS DECLINING</span><br />
U.S. shipments of liquid-crystal display televisions are expected to fall on a year-over-year basis in 2010, the first time they have done so as prices fall more slowly and economic concerns linger, according to one industry researcher. <br />
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LCD-TV shipments are expected to be 31.9 million units in 2010, down 1.2% from a year earlier. The decline "represents a shocking reversal for a U.S. LCD-TV market that has expanded robustly during every year since volume shipments commenced in 2006," iSuppli said. <br />
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"In 2010, the realities of the economy finally caught up with the LCD market, causing sales to decline for the first year ever," said Riddhi Patel, iSuppli's director and principal analyst for television. "Despite this setback, shipments will resume their growth in 2011 as consumer confidence rises again." <br />
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The flat-panel TV market has become weaker of late as consumer confidence is low and unemployment has remained high. LCD-TV prices also didn't decline at their customary rapid pace in 2010. ISuppli said that with most consumers having already bought a flat-panel set in recent years, "the combination of economic uncertainty and paucity of deals spurred a decline in shipments." <br />
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<span style="font-size: small;">BEFORE THE BELL:</span> <br />
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Stock and commodity futures pointed to a higher open for Tuesday. The Dow is +83 to 11436, S&P +11.10 to 1233.20, NASDAQ + 20.00 to 2210.50<br />
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Futures surged after U.S. president Barack Obama announced an agreement with Republicans Monday night to extend the Bush-era tax cuts for two years, while also renewing unemployment benefits and granting a one-year reduction in Social Security taxes.<br />
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=Monday=<br />
U.S. Stocks closed mixed in a choppy cautious fashion on the opening day's trading for the week of December 6th. The Dow dipped 19 points today to 11362, the S&P fell 1 point to 1223, while the Nadaq rose 3 points to 2594.<br />
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U.S. Stocks turned positive in afternoon trading as the dollar relaxed it gains for the day. The Dow Jones Industrial Average edged up 5 points, to 11388 in midday trading, after a strong three-day rally that saw the Dow climb 2.6% on the week. <br />
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Major banks were weak Monday after Nomura said one or more U.S. credit rating agencies could downgrade some large U.S. banks and brokers in early 2011, with Bank of America, Citigroup and Morgan Stanley seeming to be most at risk. Bank of America led the Dow's declines, falling 1.4%. Citigroup edged down 0.5%, while Morgan Stanley traded flat. <br />
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Cisco rose 2.4% after Oppenheimer raised its stock-investment on the company to outperform from perform. The Nasdaq Composite edged up 0.2% to 2592. The Standard & Poor's 500-share index slipped 0.1% to 1223. <br />
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At 11:00 am EST the U.S. market was flat on mixed sentiment. Investors are split over the implications of the Fed's bond-buying program on the stock market. The dollar rose against the euro and was slightly higher against the yen. The euro was trading recently at $1.3281, down from $1.3411 late Friday in New York. The U.S. Dollar Index, which tracks the currency against a basket of six others, rose 0.5%.<br />
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The Dow Jones Industrial Average fell 18 points, or 0.2% to 11364. Bank of America led the measure's decline, slipping 1.3%. Keeping the Dow's losses in check, Cisco rose 2.5% after Oppenheimer raised its stock-investment on the company to outperform from perform. The Nasdaq Composite shed three points to 2588. The Standard & Poor's 500-share index slipped 0.2% to 1223.<br />
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In the U.S. and abroad, materials and energy led the market's modest gains on Monday. Both sectors stand to benefit from a weaker dollar and the U.S. currency could see further downward pressure from the Fed's bond buying. <br />
<br />
Technology stocks were also strong. Cognizant Technology Solutions rose 1.6% after Goldman Sachs raised its stock-investment rating on the information-technology consultant and outsourcing company, to buy from neutral, citing the company's leading growth profile, robust fundamentals, and late cycle positioning. Apple rose 1.2%, while Google gained 1.1%. <br />
<br />
US stock-market futures pointed to a lower start for Wall Street Monday. Stock index futures fell on Monday as the U.S. Dollar gained against other currency pairs. But the market news wires say that the market is down after Federal Reserve Chairman Ben Bernanke offered a more sobering view of the economy and investors were set to lock in profits after a strong performance last week.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA E-COMMERCE IPO TO DEBUT</span><br />
<i><b>Expected IPO Range For E-Commerce China Dangdang Lifted</b></i><br />
<br />
The U.S. IPO market has been more active lately with an inflow of Chinese debuts often--but not universally--getting a warm reception from investors. On Monday, E-Commerce China Dangdang said it anticipates the IPO price being $13 to $15 per American depositary share, up from last month's expected range of $11 to $13. It has applied to list its ADS on the New York Stock Exchange under the symbol DANG. The sale of at least 17 million ADS is still anticipated, up to 13.5 million from the company and the rest from current holders such as cofounder and Chief Executive Guoqing Li. <br />
<br />
Each ADS represents five ordinary shares, of which some 390 million will be outstanding after the IPO. China Dangdang's proceeds will go toward expanding its operations. <br />
<br />
The company operates the leading Chinese e-commerce store, dangdang.com, Like Amazon.com Inc. (AMZN) in the U.S., it originally focused on online book sales but now offers a range of product categories, like other media, apparel, electronics and beauty and home products. China Dangdang also set up a marketplace program last year that allows third-quarter merchants to sell their general merchandise alongside the e-commerce products. In the first nine months of this year, China Dangdang reported it swung to a profit as sales jumped 44%, reaching $197.6 million when translated to dollars. <br />
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<span style="font-size: small;">BEFORE THE BELL:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Sunday: Federal Reserve Chairman Ben Bernanke appeared on CBS's "60 Minutes" show this Sunday. The U.S. stock market will likely start the week ahead with Ben Bernanke on its collective mind, with the Federal Reserve chairman defending the Fed's bond buys in an interview aired Sunday night on ABC at 7:00 p.m.<br />
<br />
Treasuries snapped a three-day loss, the dollar gained and silver jumped to a 30-year high after Federal Reserve Chairman Ben S. Bernanke said the central bank may boost purchases of U.S. securities. Fed purchases of Treasuries beyond the $600 billion announced are “possible” given that U.S. unemployment may take five years to fall to a normal level, Bernanke said, helping to overcome investor concern over an unexpected gain in the jobless rate last month.<br />
<br />
While a long period of high unemployment could damage confidence, a return to a recession “doesn’t seem likely,” Bernanke said in an interview on CBS Corp.’s “60 Minutes” program. Any increase of the planned purchase of bonds will depend on “the efficacy of the program” and the outlook for inflation and the economy, the Fed Chairman said. The yield on the benchmark 10-year Treasury note climbed to as high as 3.04 percent on Dec. 3, the highest level since July 28.<br />
<br />
Gains today helped the dollar rebound from a three-week low against the yen. The greenback rose to 82.98 yen from 82.53 yen in New York, the lowest since Nov. 15. It appreciated to $1.3351 per euro from $1.3414. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Employment Trends Index Rises</span></div><div style="font-family: Arial,Helvetica,sans-serif;">A measure of labor indicators increased again last month, according to a report released Monday by the Conference Board. The board said that its November employment trends index increased to 99.0 from a revised figure of 97.6 in October, first reported as 98.1. The November index is up 9.3% from a year ago. <br />
<br />
The index comes after Friday's official jobs report that showed non-farm payrolls increased only 39,000 in November, and the unemployment rate rose from 9.6% to 9.8%. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Seven out of the eight components increased last month. The positive indicators included new jobless claims and the percentage of firms with positions not able to fill right now. <br />
<br />
The Conference Board's index is an aggregate of eight labor-market indicators, including jobless claims, job openings data from the Bureau of Labor Statistics and industrial production figures from the Federal Reserve. It seeks to facilitate forecasts for employment, unemployment and wages by filtering out the noise and volatility of monthly labor market indicators and showing underlying trends more clearly. <br />
<br />
The employment trends index is published the first business day following the government's monthly jobs report.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Gallup Finds Unemployment Down to 8.8% in November</span><br />
December 2, 2010<br />
Unemployment, as measured by Gallup without seasonal adjustment, declined to 8.8% at the end of November, down from 9.2% in mid-November and 9.4% at the end of October. At the same time, Gallup finds that broader U.S. underemployment improved to 17.2% -- a new 2010 low.<br />
<a href="http://www.gallup.com/poll/145004/Gallup-Finds-Unemployment-Down-November.aspx">http://www.gallup.com/poll/145004/Gallup-Finds-Unemployment-Down-November.aspx</a><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Younger, Less Educated Lead Job Gains Since September</span><br />
Gallup's monitoring of the U.S. employment situation, without seasonal adjustment, finds the jobs situation improving among many segments of the workforce, with unemployment among Americans 18 to 29 and those with some college education falling the most since September.<br />
<a href="http://www.gallup.com/poll/145049/Younger-Less-Educated-Lead-Job-Gains-September.aspx">http://www.gallup.com/poll/145049/Younger-Less-Educated-Lead-Job-Gains-September.aspx</a><br />
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The early weakness in the markets comes following the release of a report from the Labor Department showing weaker than expected job growth in the month of November as well as an unexpected uptick in the unemployment rate.<br />
<br />
The report showed that non-farm payroll employment increased by 39,000 jobs in November following an upwardly revised increase of 172,000 jobs in October. Economists had expected the addition of about 130,000 jobs compared to the increase of 151,000 jobs originally reported for the previous month.<br />
<br />
Despite the increase in employment, the report also showed that the unemployment rate ticked up to 9.8 percent in November from 9.6 percent in October. The increase came as a surprise to economists, who had expected the unemployment rate to remain unchanged at 9.6 percent.<br />
<br />
While the report has generated some negative sentiment, economists have pointed out that the disappointing numbers are in stark contrast to most of the other recent data.<br />
<br />
Disappointing jobs data weakened stocks in the early going, but some late buying took the broader market to its third straight gain and within reach of its two-year high.<br />
<br />
Nonfarm payrolls for November increased by 39,000 and private payrolls expanded by 50,000, but both disappointed as the consensus among economists polled by Briefing.com had called for respective increases of 130,000 and 140,000. An unexpected rise in the headline unemployment to 9.8% from 9.6% was also discouraging.<br />
<br />
The jobs data immediately weakened the tone surrounding stocks. The dollar was also hit by sellers.The dollar ended the day down 1.4%, which made for its third straight loss and fourth in five days. The dollar ended the week down 1.5% for its worst weekly performance of the past two months. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. POLICIES CANNOT STAND IN THE LIGHT OF DAY</span><br />
Leaks may hamper U.S. anti-terrorism intelligence sharing: report<br />
The latest disclosures by the WikiLeaks website have struck a blow to the push to widely share <br />
<br />
sensitive information among the massive intelligence bureaucracy.<br />
<a href="http://news.xinhuanet.com/english2010/world/2010-12/06/c_13636040.htm">http://news.xinhuanet.com/english2010/world/2010-12/06/c_13636040.htm</a><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Swiss shut down bank account for WikiLeaks founder Assange; servers under attack</span><br />
By: John Heilprin, The Associated Press <br />
Posted: 6/12/2010 8:06 AM<br />
<br />
GENEVA - The Swiss postal system stripped WikiLeaks founder Julian Assange of a key fundraising tool Monday, accusing him of lying and immediately shutting down one of his bank accounts.<br />
<br />
The swift action by Postfinance, the financial arm of Swiss Post, came after it determined the "Australian citizen provided false information regarding his place of residence during the account opening process."<br />
<br />
Assange had told Postfinance he lived in Geneva but could offer no proof that he was a Swiss resident, a requirement of opening such an account.<br />
<br />
Postfinance spokesman Alex Josty told The Associated Press the account was closed Monday afternoon and there would be "no criminal consequences" for misleading authorities.<br />
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"That's his money, he will get his money back," Josty said. "We just close the account and that's it."<br />
<br />
The setback leaves Assange with only a few options for raising money for his secret-spilling site through a Swiss-Icelandic credit card processing centre and accounts in Iceland and Germany.<br />
<br />
WikiLeaks has been under intense international scrutiny over its disclosure of a mountain of classified U.S. diplomatic cables, after previously releasing tens of thousands of classified U.S. military documents on the wars in Afghanistan and Iraq. The unprecedented disclosures have embarrassed the U.S. and other governments worldwide and prompted U.S. officials to pressure the WikiLeaks site and its facilitators.<br />
<br />
<i>Read the entire article at the Winnipeg Free Press:</i><br />
<a href="http://www.winnipegfreepress.com/business/breakingnews/wikileaks-swedish-web-hosting-company-our-servers-are-unresponsive-may-be-under-attack-111375984.html">http://www.winnipegfreepress.com/business/breakingnews/wikileaks-swedish-web-hosting-company-our-servers-are-unresponsive-may-be-under-attack-111375984.html</a><br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CRUDE OIL:</span><br />
<div style="text-align: left;"></div><br />
<b>FRIDAY:</b> <b>U.S. Crude Oil: $87.62 per barrel</b><br />
FRIDAY'S OIL FUTURES: Nymex Crude Settles 58c Lower At $87.79/Bbl <br />
Oil prices held steady Friday, as markets shrugged off China's move to raise its banks' reserve requirements and awaited a decision due this weekend on interest rates. <br />
<br />
Light, sweet crude for January delivery fell 2 cents at $88.35 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange added 12 cents, or 0.1%, at $91.11 a barrel. <br />
<br />
Front-month January reformulated gasoline blend-stock, or RBOB, recently fell 0.98 cent, or 0.4%, to $2.3307 a gallon. RBOB's retreat comes a day after an outage at a key gasoline-making unit at the Hovensa refinery in St. Croix sent gasoline futures soaring. <br />
<br />
January heating oil gained 0.1 cent at $2.4678 a gallon. <br />
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THURSDAY'S OIL FUTURES: Nymex Crude Settles 9c Higher At $88.37/Bbl<br />
<br />
Oil futures traded lower Thursday, as weaker equities and a rising dollar erased a boost in prices earlier in the trading day. <br />
<br />
In morning trading, light, sweet crude for January delivery fell 20 cents, or 0.2%, at $88.08 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange lost 21 cents, or 0.2%, at $90.56 a barrel.<br />
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Front-month January reformulated gasoline blend-stock, or RBOB, recently gained 0.49 cent, or 0.2%, at $2.3095 a gallon. January heating oil fell 0.1 cent at $2.4597 a gallon.<br />
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WEDNESDAY OIL FUTURES: Nymex Crude Settles 41c Lower At $88.28/Bbl<br />
<br />
<b>Department of Energy Reports:</b> <br />
DOE: US Refineries Ran At 87.5% Vs 82.6% Week Ago<br />
US Gasoline Stocks +3.811M Bbl In Wk; Seen +0.1M Bbl</div><div style="font-family: Arial,Helvetica,sans-serif;">US Distillate Stocks +2.154 Mln Bbl At 160.211 Mln Bbl </div><div style="font-family: Arial,Helvetica,sans-serif;">US Crude Oil Stocks -3.819 Mln Bbl At 355.872 Mln Bbl<br />
<br />
U.S. crude inventories posted a bigger-than-expected draw last week while stocks of refined products expanded, according to data released Wednesday by the U.S. Department of Energy. <br />
<br />
Crude oil stockpiles fell by 3.8 million barrels to 355.87 million barrels for the week ended Dec. 3, compared with an average survey estimate of a decline of 1.2 million barrels. On Tuesday, the American Petroleum Institute, an industry group, data showed stocks fell by 7.3 million barrels last week. <br />
<br />
Futures contracts for crude oil extended losses Wednesday, with January contracts trading down 1.3% recently at $87.61 a barrel on the New York Mercantile Exchange. January futures for gasoline were down 1.8% at $2.2820 a gallon and for heating oil were down 1.4% at $2.4346 a gallon. <br />
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Inventories of crude oil and major refined products remain at unusually high levels seen for this time of the year. <br />
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Gasoline stockpiles rose by 3.8 million barrels to nearly 213.87 million barrels, the department's Energy Information Administration said in its weekly report. The forecast called for a 100,000-barrel decline based on a Dow Jones Newswires survey of 17 analysts. <br />
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Distillate stocks, which include heating oil and diesel fuel, added 2.2 million barrels to 160.21 million barrels versus the 600,000-barrel drop analysts expected. <br />
<br />
Refining capacity utilization jumped 4.9 percentage points to 87.5%. Analysts had expected a 0.9-perecentage-point increase. <br />
<br />
API reported that refinery utilization rose by 4.2 percentage points to 86.1% and that inventories of gasoline rose by 4.8 million barrels and distillates added 1.7 million barrels.<br />
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TUESDAY OIL FUTURES: Nymex Crude Settles 69c Lower At $88.69/Bbl <br />
<br />
Oil futures retreated after touching a two-year high above $90 a barrel on Tuesday.A weak dollar earlier in the session gave crude oil the final shove above $90. <br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Light, sweet crude oil for January delivery recently fell 48 cents, or 0.6%, to $88.90 a barrel on the New York Mercantile Exchange, after earlier rising as high as $90.76, the highest price since October 2008. Brent crude oil on the ICE futures exchange fell 18 cents, or 2%, to $91.27 a barrel. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">The Organization of Petroleum Exporting Countries (OPEC) meets this week and is expected to keep production quotas unchanged.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">The department's Energy Information Administration said Tuesday that c</span><span style="font-family: Arial,Helvetica,sans-serif;">rude oil prices are expected to rise to $88.50 a barrel by the fourth quarter of 2011, according to estimates from the U.S. Department of Energy, up from a previous outlook calling for a rise to $87 a barrel. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">U.S. crude-oil inventories are expected to fall by 1.3 million barrels in the weekly data.Gasoline stocks are seen rising by 400,000 barrels, while stocks of distillates, which include heating oil and diesel, are seen falling by 700,000 barrels. <br />
<br />
Front-month January reformulated gasoline blend-stock, or RBOB, recently traded down 0.7 cent, or 0.3%, at $2.3347 a gallon. January heating oil recently gained 0.33 cent, or 0.1%, at $2.4788 gallon. </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
Monday, Crude oil added 0.2 percent to $89.38 a barrel, the highest in 26 months. <br />
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<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NATURAL GAS:</span><br />
<b>FRIDAY: Natural Gas: $ 4.40</b><br />
FRIDAY'S US GAS: Futures Settle Down 0.4% at $4.417/MMBtu <br />
THURSDAY'S US GAS: Futures Close Down 3.7% at $4.434/MMBtu <br />
WEDNESDAY US GAS: Futures Close Up 4.8% at $4.605/MMBtu<br />
<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US Gas Futures Rise On Large Storage Draw</span></div>Natural gas futures climbed Wednesday on expectations that increased heating demand amid widespread cold led to a large withdrawal from U.S. gas stockpiles. <br />
<br />
Natural gas for January delivery recently traded 13.5 cents, or 3.1% higher, at $4.528 a million British thermal units on the New York Mercantile Exchange. The benchmark gas contract has climbed about 8% so far in December as colder-than-normal temperatures settled in across much of the Eastern U.S., lifting demand expectations for the heating fuel.<br />
<br />
U.S. gas inventories stood at 3.814 trillion cubic feet as of Nov. 26, the Energy Information Administration reported last week, 10% above the five-year average. This week's report is scheduled for release Thursday at 10:30 a.m. EST. <br />
<br />
The EIA Tuesday lifted its 2010 gas production estimates. U.S. natural gas production this year should show a 3.5% increase from 2009 levels, the EIA said, up from the 2.5% increase previously forecast. Marketed natural gas production is seen at 62.09 billion cubic feet a day, up from 61.49 bcf a day. <br />
<br />
TUESDAY US GAS: Futures Settle Down 2.1% at $4.393/MMBtu<br />
<br />
Tuesday's natural gas for January delivery settled 9.5 cents, or 2.1%, lower at $4.393 a million British thermal units on the New York Mercantile Exchange. The benchmark contract Monday had settled at its highest price since August.<br />
<br />
U.S. gas inventories stood at 3.814 trillion cubic feet as of Nov. 26, the Energy Information Administration reported last week, 10% above the five-year average. This week's report is scheduled for release Thursday at 10:30 a.m. EST. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PRECIOUS METALS: </span><br />
<div style="text-align: left;"></div><br />
<br />
<b>FRIDAY:</b> <b>Gold: $ 1,386</b><br />
<br />
<b>FRIDAY:</b> <b>Silver:$ 28.66</b><br />
<br />
<b>Friday Gold settled down Friday, lead by the strong dollar. </b>The most actively traded contract, for February delivery, settled down $7.90, or 0.6%, at $1,384.90 per troy ounce on the Comex division of the New York Mercantile Exchange. Exchange-traded funds, remain near record levels and point to strong investor appetite for the metal. Gold ETF holdings fell 0.9 metric tons to 2,136 metric tons, just below the all-time high of 2,143 metric tons, according to Barclays Capital . <br />
<br />
<br />
Comex gold futures trended lower Friday against the dollar's rise. The most actively traded contract, for February delivery, recently traded down 0.8%, or $11.70, at $1,381.10 per troy ounce on the Comex division of the New York Mercantile Exchange.<br />
<br />
Engelhard Corp's base price for industrial gold bullion was $1378.24 per troy ounce, down $16.03 from previous. It's selling price for gold in fabricated form was $1481.61, down $17.23.<br />
Handy & Harman's base price for gold was $1375.25 per troy ounce, down $16.00. The fabricated form price was $1485.27, down $17.28. <br />
<br />
<b>Friday Settlements <i>(Range includes floor and electronic trading)</i>:</b><br />
London PM Gold Fix: $1,375.25; previous PM $1,391.25<br />
Feb gold $1,384.90, down $7.90; Range $1,372.70-$1,388.40<br />
Mar silver $28.605, down 2.12 cents; Range $28.060-$29.030<br />
Jan platinum $1,675.30, down $3.60; Range $1,666.10-$1,687.20<br />
Mar palladium $732.70, down $8.90; Range $725.50-$740.75<br />
<br />
<br />
<b>Thursday:</b> Gold futures continue to attract long-term buyers, with open interest in June 2011 and December 2011 contracts gaining ground in recent days. The most actively traded contract, for February delivery, settled up $9.60, or 0.7% at $1,392.70 per troy ounce on the Comex division of the New York Mercantile Exchange.<br />
<br />
Engelhard Corp's base price for industrial gold bullion was $1394.27 per troy ounce, up $5.76 from previous. It's selling price for gold in fabricated form was $1498.84, up $6.20.<br />
<br />
Handy & Harman's base price for gold was $1391.25 per troy ounce, up $5.75. The fabricated form price was $1502.55, up $6.21.<br />
<br />
<b>Thursday Settlements (Range Includes Floor and Electronic Trading):</b><br />
<br />
London PM Gold Fix: $1,391.25; previous PM $1,85.50<br />
Feb gold $1,392.80, up $9.60; Range $1,381.10-$1,395.60<br />
Mar silver $28.817, up 56.5 cents; Range $28.200-$29.045<br />
Jan platinum $1,678.90, down $2.50; Range $1,673.50-$1,695.00<br />
Mar palladium $741.60, up $8.10; Range $725.25-$751.60 <br />
<br />
<br />
<b>Wednesday: </b> Gold declined Wednesday. The most actively traded gold contract fell $25.80, or 1.8%, to settle at $1,383.20 a troy ounce on the Comex division of the New York Mercantile Exchange. <br />
<br />
Engelhard Corp's base price for industrial gold bullion was $1388.51 per troy ounce, down $34.55 from previous. It's selling price for gold in fabricated form was $1492.64, down $37.15.<br />
Handy & Harman's base price for gold was $1385.50 per troy ounce, down $34.50. The fabricated form price was $1496.34, down $37.26.<br />
<br />
<b>Tuesday</b> gold futures were unable to hold onto early gains, ending lower, but above the key $1,400 per troy ounce level, an indication that traders remain concerned about inflation. <br />
<br />
The most actively traded contract, for February delivery, settled down $7.10, or 0.5%, at $1,409 per troy ounce on the Comex division of the New York Mercantile Exchange. Futures had peaked at $1,432.50 an ounce, a record. <br />
<br />
Gold futures had peaked above the $1,430 level Tuesday during morning trade, triggering a technical sell-off as traders moved to book gains. <br />
<br />
Engelhard Corp's base price for industrial gold bullion was $1423.06 per troy ounce, up $4.75 from previous. It's selling price for gold in fabricated form was $1529.79, up $5.11.<br />
Handy & Harman's base price for gold was $1420.00 per troy ounce, up $4.75. The fabricated form price was $1533.60, up $5.13.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">SILVER REACHES $30.00 Per Ounce Monday</span><br />
<span style="font-size: large;"><span style="font-size: small;"><i><b>Silver prices followed gold's rally to set a fresh 30-year high Monday. </b></i><br />
<br />
March-delivery silver, the most actively traded contract, settled at a fresh 30-year high of $29.705 per troy ounce on the Comex division of the New York Mercantile Exchange. The contract also set an intraday high of $30.055 per ounce.</span></span><br />
<span style="font-size: large;"><span style="font-size: small;"> </span> </span><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Gold Settles At Fresh Record Of $1,416.10</span></div>The most actively traded contract in late afternoon trading, for February delivery, settled up $9.90, or 0.7%, at $1,416.10 per troy ounce on the Comex division of the New York Mercantile Exchange. Gold's previous record settlement of $1,410.00 was set Nov. 9.<br />
<br />
Gold prices are also seeing support from physically backed exchange-traded funds. Gold held by ETFs rose to a fresh record high of 2,151.3 metric tons, according to Barclays Capital.<br />
<br />
The most actively traded platinum futures, for January delivery, settled down 0.9%, or $14.90, at $1,713.60 per troy ounce on the Nymex. <br />
<br />
Palladium for March delivery, the most actively traded contract, settled down 2.4%, or $18.70, at $751.40 per troy ounce on the Nymex.<br />
<br />
<b>Monday Settlements (Range Includes Floor and Electronic Trading):</b><br />
London PM Gold Fix: $1,415.25; previous PM $1,403.50<br />
Feb gold $1,416.10, up $9.90; Range $1,409.80-$1,422.40<br />
Mar silver $29.705, up 46.4 cents; Range $29.495-$30.160<br />
Jan platinum $1,713.60, down $14.90; Range $1,711.40-$1,737.50<br />
Mar palladium $751.40, down $18.70; Range $751.00-$767.05 <br />
<br />
<b>Monday:</b> Comex gold futures open near record levels Monday as inflation concerns in the U.S.. Gold maintained $1,412 and ounce and Silver climbed to $29.80 an ounce and copper rallied to $4.01 for a fifth day. Silver for immediate delivery gained as much as 1.5 percent to the highest level since 1980. Copper futures in London rose as much as 0.6 percent to $8,780 a metric ton and was set for its longest rally since July amid a labor dispute at Anglo American Plc and Xstrata Plc’s Collahuasi venture in Chile, the world’s third-biggest copper mine.<br />
<br />
The most actively traded contract, for February delivery, was recently trading up 0.7%, or $9.50, at $1,415.70 per troy ounce on the Comex division of the New York Mercantile Exchange.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS:</span><br />
FRIDAY: <br />
Demand for Treasurys declined, lifting the yield on the 10-year note up to 3.29%. Treasurys were mixed, with increased demand for the two-year note pushing its yield down to 0.61%, while a decline in the 10-year lifted its yield to 3.26%.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">NY FED TO BUY $105 BILLION IN TREASURYS</span></div>NY Fed will buy $105 billion in Treasury debt over the coming month. The bank says the purchases will include $75 billion done under the new program to buy $600 billion in longer term government bonds by the middle of next year. <br />
<br />
THURSDAY: <br />
<span id="articleText">Treasury prices got a boost Thursday after an auction of $13 billion in 30-year bonds met with <br />
strong demand. </span>Yields fell as worries over aggressive interest-rate hikes eased, with returns on the 10-year note falling to 3.239% earlier in the session from a six-month high of 3.330% late Wednesday. Earlier, Treasuries steadied after a recent jump in yields. Treasury prices rose Thursday following the biggest two-day sell-off in two years, as higher yields lured buyers. The yield on the 10-year note retreated to 3.21%.<br />
<br />
WEDNESDAY:<br />
<span id="articleText"> U.S. Treasury prices plunged on Wednesday for a second straight day, pushing benchmark yields to a six-month high, after a deal in Washington to extend tax cuts fueled fears of inflation and a swelling budget deficit.</span> <br />
<br />
<span id="articleText"> The sharp dip in prices brought some buyers to the table in an auction of $21 billion of reopened 10-year notes, which was part of $66 billion of coupon-bearing securities sales this week. Bond prices rebounded somewhat from their lowest levels of the day following the sale, which analysts said saw about average demand.<br />
<br />
<span id="midArticle_6"></span> Still, sentiment remained strongly bearish heading into the sale of $13 billion of reopened 30-year bonds on Thursday.</span><br />
<br />
In early trading Wednesday Treasury yields continued to surge, pushing the yield on the benchmark 10-year note to 3.278%. A $21 billion auction of 10-year notes will be closely watched at 1 p.m. EST.<br />
<br />
<span id="articleText"> Benchmark 10-year notes US10YT were trading 1-9/32 lower in price for a yield of 3.29 percent, up from 3.13 percent late on Tuesday.<br />
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<span id="midArticle_10"></span> If the bond market deteriorates further, the 10-year yield could test support in the 3.30 to 3.32 percent area. A market rebound could make the 10-year yield test resistance at 3.10 percent, its 200-day moving average.</span> <br />
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MONDAY: Demand for U.S. Treasurys rose Monday, pushing yield on the 10-year note down to 2.95%. The benchmark 10-year note's yield, which moves inversely to its price, fell below 3% again after hitting 3.062% Friday, the highest level since July.<br />
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<br />
As of 4 p.m. EST, the benchmark 10-year note was 19/32 higher in price to yield 2.935%. The 30-year bond was 1 9/32 higher to yield 4.241%, and the two-year note was 3/32 higher to yield 0.433%.<br />
<br />
The bond market faces $66 billion in new government-debt supply. The Treasury Department will sell $32 billion in three-year notes Tuesday, $21 billion in 10-year notes Wednesday and $13 billion in 30-year bonds Thursday.<br />
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<b>FRIDAY, DEC. 10, 2010; 4:00 PM:</b><br />
3 Month 0.09% -0.02 (-18.18%)<br />
6 Month 0.16% 0.00 (0.00%)<br />
2 Year 0.63% +0.02 (3.28%)<br />
5 Year 1.98% +0.08 (4.21%)<br />
10 Year 3.32% +0.06 (1.84%)<br />
30 Year 4.43% -0.01 (-0.23%) <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Market:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TORONTO UP - MIXED FRIDAY</span><br />
Toronto stocks closed higher Friday lead by materials and financials, as consolidating commodity prices and mixed economic data soothed but didn't excite investors. <br />
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The S&P/TSX Composite Index rose 72.53 points, or 0.55%, to 13239.47. Advancers led decliners 833 to 771. Trading volume was 462.5 million shares, down from Thursday's total of 481.6 million shares. The S&P/TSX 60 Index closed up 4.7 points, or 0.6%, to 756.68.<br />
<br />
<br />
At Mid-day the stock market was slightly higher in mixed trading at midday Friday even as gold and other commodities continued to spiral lower. Financials were stronger as a flurry of economic data helped solidify growing investor confidence.Canada's trade deficit was at C$1.71Billion In October. <br />
<br />
At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was up 20.33 points, or 0.15%, at 13187.27. Decliners led advancers 767 to 616. Trading volume was 199.9 million shares. The S&P/TSX 60 Index was up 2.02 points, or 0.3%, to 754.00 points. <br />
<br />
At the market open, Toronto stocks rise a little in mixed trading. Materials declined against the U.S. dollar's rise. Industrial and financial sectors increased slightly Friday morning in light trading. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TORONTO STOCKS MIXED THURSDAY</span><br />
Toronto stocks end the day mixed, on low volume. Toronto stocks finished a see-saw session with a small gain Thursday as gold producers ticked slightly higher. However, activity was mixed with decliners outpacing advancers 854 to 769. the S&P/TSX Composite Index rose 14.94 points, or 0.11%, to 13166.94. Trading volume was 481.6 million shares, down from Wednesday's total of 536.2 million shares. The S&P/TSX 60 Index closed up 1.25 points, or 0.2%, to 751.98.<br />
<br />
Among major movers, transportation giant Bombardier fell 0.04 to 4.58 despite confirming a new order for 15 turboprop aircraft. <br />
<br />
Royal Bank of Canada lost 0.11 to 52.47, Barrick Gold added 0.44 to 53.91 and IAMGold moved 0.41 higher to 17.13. <br />
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Toronto stocks are little changed at mid-day with stocks only marginally higher. Material, Industrials, Financials and energy equity issues are leading the Toronto exchange as the dollar steadies boosting metals and providers.<br />
<br />
At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was up 5.39 points, or 0.04%, at 13157.39. Decliners outweighed advancers 722 to 686. Trading volume was 212.4 million shares. <br />
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The S&P/TSX 60 Index was down 0.38 point, or 0.1%, to 750.35 points. <br />
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<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TORONTO STOCKS LOWER WEDNESDAY</span><br />
Both materials and energy declined Wednesday morning. The stock market was lower at midday Wednesday as a sharp retreat in the price of gold spurred investors to lock in profits from last week's rally. <br />
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At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was down 78.63 points, or 0.59%, at 13172.04. Decliners outweighed advancers 963 to 496. Trading volume was 251.2 million shares. <br />
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The S&P/TSX 60 Index was down 3.77 points, or 0.5%, to 752.57 points. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canada Housing Starts Jump 11.6%</span><br />
Canadian housing starts jumped 11.6% in November, beating analyst expectations, after a solid increase in urban multiple starts in Ontario more than offset declines in all other regions of the country, Canada Mortgage and Housing Corp. said. The rate of starts was 187,200 in November, up from a revised 167,800 in October.<br />
<br />
Urban multiple starts were up 20.9% to 101,800 units in November from October, while urban singles rose 5.5% to 61,300 units. Rural starts were estimated at 24,100 in November. <br />
<br />
CMHC said multiple unit starts rose 29,900 in Ontario, mainly due to the start of a number of major apartment projects in the Toronto area. <br />
<br />
Urban housing starts jumped 82.8% in Ontario last month, but were down 24% in Atlantic Canada, 21.3% in British Columbia, 15.2% in Quebec and 1.5% in the Prairie provinces.</div><div style="font-family: Arial,Helvetica,sans-serif;">Website: <a href="http://www.cmhc-schl.gc.ca%20/">http://www.cmhc-schl.gc.ca </a></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">TORONTO STOCKS LOWER TUESDAY</span></div>Toronto stocks closed lower for the first time in seven days Tuesday, as a retreat in commodity prices spurred some profit-taking. <br />
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The S&P/TSX Composite Index fell 25.34 points, or 0.19%, to 13250.67. Decliners outweighed advancers 888 to 776. Trading volume was 626.3 million shares, up from Monday's total of 567.3 million shares. The S&P/TSX 60 Index closed down 0.8 points, or 0.1%, to 756.34. <br />
<br />
At 11:45 a.m. EST, the S&P/TSX Composite Index was up 4.28 points, or 0.03%, at 13280.29. Advancers just edged out decliners 741 to 720. Trading volume was 299.3 million shares. <br />
<br />
The S&P/TSX 60 Index was flat at 757.51.<br />
<br />
<br />
At the market open Tuesday, the Toronto stock market headed for a positive open Tuesday amid higher commodity prices, more positive earnings from the financial sector and a deal to extend tax breaks and unemployment benefits in the U.S.<br />
<br />
The Canadian dollar was higher ahead of a scheduled Bank of Canada announcement on interest rates, up 0.35 of a cent to 99.82 cents US. The central bank is expected to leave its key rate unchanged at one per cent.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BANK OF CANADA HOLDS RATE STEADY</span><br />
Bank of Canada leaves its benchmark overnight rate steady at 1.00%, but reiterates that further rate increases would need to be 'carefully considered,' and says risks to global recovery have increased.<br />
Bank of Montreal profit rises 14 per cent in fourth quarter as revenues climb<br />
<br />
AGL Resources buying rival Nicor for about $2.38B in cash, stock<br />
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<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TORONTO STOCKS HIGHER MONDAY </span><br />
Materials gained again Monday leading the way up for the Toronto Exchange, followed by the energy sector. Financials declined. Toronto stocks closed higher for a sixth consecutive session Monday, buoyed largely by rising precious metals and copper prices. Gold and silver prices broke through 30 year highs Monday. <br />
<br />
At the market close, the S&P/TSX Composite Index rose 97.06 points, or 0.74%, to 13276.01. Advancers led decliners 968 to 705. Trading volume was 567.3 million shares, down from Friday's total of 611.5 million shares. The S&P/TSX 60 Index closed up 4.93 points, or 0.7%, to 757.14. <br />
<br />
Toronto stocks to opened lower Monday. Toronto Stock Exchange set for lower open on flat commodities, mixed sentiment.<br />
<br />
At 11:45 a.m. EST, the S&P/TSX Composite Index was up 33.40 points, or 0.25%, at 13212.35. Advancers led decliners 855 to 588. Trading volume was 232.4 million shares. <br />
<br />
The S&P/TSX 60 Index was up 0.55 points, or 0.1%, to 752.76 points. <br />
<br />
The Canadian dollar was slightly lower Monday morning before markets opened as the U.S. dollar moved higher against most other currencies, and global equities and commodities were mixed. The loonie was down 0.42 of a cent to 99.21 cents US. According to StatsCan, Quebec down as value of building permits drops in October. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mining Sector Boosts Toronto Stocks</span><br />
<i><b>Toronto gold quoted at C$1,426 bid, C$1,427 asked in mid-morning trading.</b></i><br />
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Companies in the mining sector have ranged upward since last week as precious metals have soared. In focus today is Eagle Plains Resources Ltd. (EPL.V). Eagle Plains has gained close to 40% percent per day, reaching $1.24 US Monday, in early morning trading. The company has reported drill results for their famous Iron Ridge Project that shows evidence of gold , iron, copper, lead and zinc. They also have a positive balance sheet of $6 million dollars, with a projected balance sheet of $9 million by the end of the year. Their share price was $0.22 last week, it now trades in the $1.05 a share range. <br />
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Also in the active list is NovaGold, Baja Mining, Thompson Creek Metals, Denison Mines, Uranium One, Norsemont Mining, and EMC Metals Monday. <br />
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In commodities, the January crude contract slipped 10 cents to US$89.09 a barrel on the New York Mercantile Exchange. The February gold contract added $9 to US$1,415.20. The March copper contract lost a cent to US$3.99.<br />
<br />
Capital Gold (CGC, C$4.80, C$0.16, 3.5%) said its board has rejected a merger proposal from Timmins Gold Corp. (TMM.V), saying it isn't superior to its planned union with Gammon Gold inc. (GRS).<br />
<br />
<br />
The Bank of Canada is making its last interest rate policy announcement of the year Tuesday. But few economists expect him to do anything other than holding rates at one per cent as the economic outlook remains uncertain and after recent weak Canadian data. </div><div style="font-family: Arial,Helvetica,sans-serif;">Goldcorp announced that the requisite majority of Andean Resources shareholders have voted in favor the proposed acquisition of the latter.<br />
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Coal miner Western Coal Corp. said it would be acquired by Walter Energy or C$11.50 per share in cash or 0.114 of a Walter Energy share, or for a combination thereof. The transaction represents a total enterprise value of C$3.3 billion, net of cash on the balance sheet for Western Coal.<br />
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High precision measuring instruments maker Roctest Ltd. said its shareholders approved the acquisition by Nova Metrix LLC at C$4.01 per share in cash.<br />
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Statistics Canada said the economy added 15,200 jobs in November as part time gains were partly offset by decreases in full time. Meanwhile, the unemployment rate dropped to its lowest level in almost two years amid a significant decline in the number of young people participating in the labor market.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canada Ivey Purchasing Managers Index At 57.5 </span></div>The Ivey Purchasing Managers Index was at 57.5 last month, indicating that purchasing activity in Canada expanded from October. An index greater than 50 indicates an expansion of purchasing activity, while an index below 50 indicates a decline. <br />
<br />
The Ivey PMI is compiled by the Purchasing Management Association of Canada and the Richard Ivey School of Business and measures changes in dollars of purchases as indicated by a panel of 175 purchasing managers from across Canada. It includes both the manufacturing and non-manufacturing sectors, and isn't seasonally adjusted. <br />
<br />
The employment index for November was at 54.8, indicating employment was higher than in the previous month. The inventories index was at 41.7, indicating inventories were lower than in the previous month. The prices index was at 60.0 in November, indicating prices were higher than in October. The supplier deliveries index was at 44.0, indicating supplier deliveries were slower than in the previous month.<br />
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<b>Toronto Indexes, Friday; 4:15 PM EST Composite Up 72.53</b><br />
<br />
S&P/TSX Composite 13239.47 up 72.53 or 0.6%<br />
S&P/TSX 60 Index 756.68 up 4.70 or 0.6%<br />
Financials 183.58 up 1.59 or 0.9%<br />
Materials 439.96 up 2.26 or 0.5%<br />
Energy 308.61 up 0.58 or 0.2%<br />
IT 30.95 up 0.27 or 0.9%<br />
Industrials 108.36 up 0.52 or 0.5%<br />
<br />
<b> Volume Friday Thursday</b><br />
3-4:15 85.8M 94.1M<br />
9:30-4:15 462.5M 481.7M<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">South American Markets:</span><br />
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<span style="font-size: x-large;">BRAZIL:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Close Higher Friday</span><br />
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Brazil's stocks closed higher Friday, lifted by the two main blue chips, as uncertainty about the global economy and Brazilian interest rates kept most other stocks in negative territory. <br />
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The Ibovespa stocks index ended 0.7% higher at 68,341 points. The index is down 2% this week but is up 0.9% since the beginning of December. <br />
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Investors in Brazil also remain divided over whether or when the central bank will raise interest rates to curb rising inflation expectations. Higher interest rates and the prospect of a slower economy often lead investors to withdraw money from equities. <br />
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The two largest companies were both higher, helping lift the average. Brazil's government-run oil company, Petroleo Brasileiro SA (PETR4.BR, PBR), was up 1.2% at 25.70 Brazilian reais ($15), while mining giant Vale SA (VALE5.BR, VALE), was up 1.1% at BRL50.00. <br />
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There was little corporate news Friday. <br />
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Brazilian steel company Cia Siderurgica Nacional (SID, CSNA3.BR), or CSN, prepared to deploy a small portion of its $6.7 billion war chest with plans to buy stakes in three Spanish cement and long steel companies from the Alfonso Gallardo Group for a total of EUR352 million. <br />
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CSN said in a statement published late Thursday that it has signed a memorandum of understanding to buy stakes in Cementos Balboa SA, Corrugados Azpeitia SL and Corrugados Lasao SLU, according to the statement, and said the deal could be wrapped up in the first quarter of 2011. <br />
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Investment bank Credit Suisse said the potential deal is "fairly small, accounting for about 2.2% of CSN's market capitalization." CSN's preferred shares ended up 0.7% at BRL27.48. <br />
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Steel maker Gerdau SA was one of the day's biggest winners. It's shares were up 3.7% at BRL13.32, and are up 17.5% so far this month. <br />
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Barclays Capital said it expects steel stocks may catch up in the short term driven by higher global steel prices and better-than-expected news flow. But it warned that "chronic excess capacity should continue driving the global steel industry mini-cycles for the next 3-4 years," and said it prefers iron ore miners over steelmakers. <br />
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Brazil's big four banks, Banco do Brasil SA (BBAS3.BR), Itau Unibanco Holding SA (ITUB4.BR), Banco Bradesco SA (BBDC4.BR) and Banco Santander Brasil (SANB4.BR), were all underwater. Banco do Brasil was down 1.7% at BRL17.89, and is down %6.6 this week. Bradesco was off 1% at BRL18.95 and is down 2.9% this month. <br />
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Last week, the central bank raised reserve requirements, which it said would make banks set aside some BRL61 billion in cash, as it sought to rein in red-hot lending.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazil Stocks End Lower Thursday</span></div>Brazil's Bovespa stocks index lost ground to end lower Thursday as upbeat local data failed to shield shares from the impact of uncertainties in markets abroad. The main Sao Paulo stocks index ended 0.4% lower at 67,879 points after ending at 68,174 points Wednesday. <br />
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Traders noted local markets Thursday got a lift early in the session from continued strong growth registered by the local economy in the third quarter. <br />
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According to the IBGE statistics institute, the country posted 6.7% growth in the third quarter from the same period last year. Growth slowed slightly by a quarterly measure to 0.5% from 1.2% previously, but analysts noted the latest figures were enough to keep the country on track for annual growth of more than 7% this year. <br />
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Also helping the local mood Thursday was the central bank monetary policy committee's decision late Wednesday to hold the country's reference Selic interest rate unchanged for a third straight meeting. The bank said it hoped to further evaluate recent measures to rein in lending before studying possible interest rate hikes. Analysts Thursday concluded that with the move the bank could put off rate tightening to as late as March. <br />
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The favorable signals, however, were not enough to push the local index beyond the reach of <br />
pessimism over declines in markets abroad, and most shares declined. <br />
<br />
At the end of trading Thursday, some shares resisted declines. <br />
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Materials shares were among gainers, with steelmaker Gerdau (GGB, GGBR4.BR) up 2.2% to 21.89 reais ($12.96). Additionally, state-controlled oil company Petrobras (PBR, PETR4.BR) advanced 1.6% to BRL25.40. In the telecom sector, fixed-line telecom Oi rose 2.1% to BRL24.42 and mobile company Tim Participacoes (TCSL4.BR) rose 0.7% to BRL5.62. Leading airline Tam (TAMM4.BR) also posted a gain, rising 1.7% to BRL41.17. <br />
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<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazil's Economy Slows</span></div>Brazil's economy last quarter eased from its torrid pace of growth earlier this year, making the outlook for local interest rates a little tougher to call. <br />
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Some measures had already been taken, facilitating the moderation in growth. <br />
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Brazil's economy expanded 6.7% on year in the third quarter, down from a red-hot 9.2% rate in the second quarter. Quarter-on-quarter growth was also a more moderate 0.5% last quarter. <br />
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The data indicate that interest-rate hikes and the expiration of tax cuts earlier this year were working their way through the broader economy, perhaps buying the central bank more time in its fight against inflation. <br />
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"We can already start to see some effects from the monetary tightening, but it's still very small," said Rafael Bacciotti, an economist with the Tendencias consultants group. <br />
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Henrique Meirelles, who will end his term as Brazil's longest-serving central bank chief at the end of the month, said Thursday the third-quarter growth confirms "that the Brazilian economy is moving toward a trajectory in line with long-term equilibrium." <br />
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Despite the inflationary pressures, the Brazilian Central Bank opted to hold the benchmark Selic base interest rate steady at 10.75% late Wednesday. While the bank noted a "less favorable outlook" for inflation, it said more time was needed to evaluate measures it had implemented last week to reduce credit growth. <br />
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The central bank said it would "carefully monitor" the economy, which implies that "we are again close to seeing rate hikes, based on past history," HSBC said. The firm expects a half-percentage-point increase in January. <br />
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What's at stake is the delicate balance the central bank needs to strike in its fight against inflation and President-elect Dilma Rousseff's publicly declared desire to see lower interest rates. <br />
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Lower rates would reduce the government's cost of servicing its heavy debt load, while also easing the appreciation pressure on the real currency. Brazil's towering interest rates have attracted foreign investors in search of higher returns, causing an unwanted strengthening in the Brazilian real. <br />
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On the fiscal side, Finance Minister Mantega said the government would implement cost cuts that should also aid in the fight against inflation. Neil Shearing, senior emerging markets economist at Capital Economics, said central bankers may have decided to hold rates steady to see if the new government will indeed rein in spending. <br />
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"With this in mind, a rate hike is possible in January," Shearing said in a research report. "But we remain of the view that other forms of monetary tightening--including further increases in bank reserve requirements--will do the bulk of the heavy lifting." <br />
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Should the central bank be successful in controlling inflation by any means other than raising interest rates, Rousseff could then get her wish. <br />
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"If inflation is under control and on a benign trajectory, that would open space for a reduction in interest rates should the central bank decide to follow that path," Mantega said. "But we will have to wait and see how inflation behaves next year."<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Close Lower Wednesday</span><br />
Brazilian stocks closed lower Wednesday on speculation that interest rate increases at home will stifle growth as trade partner China threatens to cool its own economy. <br />
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The benchmark Ibovespa stock index closed at 68,174 points, down 1.7% from Tuesday's close of 69,338. <br />
<br />
Consumer prices in Latin America's biggest economy rose for a third consecutive month in November, cementing bets the central bank will raise rates by the beginning of next year. <br />
<br />
Some, such as RBS Securities economist Zeina Latif, expect the bank to act "promptly," possibly even anticipating the entry of Alexandre Tombini as the central bank's new governor next year, by raising rates when the monetary policy committee ends its meeting Wednesday. <br />
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"The deterioration of current and expected inflation, coupled with the continued strength of domestic demand and further labor market tightening, is enough to require monetary policy constraint," Banco Santander economist Tatiana Pinheiro wrote in a note. "In this sense, the beginning of the monetary tightening cycle in December would be good news for price stability ahead." <br />
<br />
In China, Brazil's biggest trade partner, investors are on the lookout for interest rate increases amid rising inflationary pressures. <br />
<br />
In a front-page report, the China Securities Journal said Tuesday that the period around this weekend offered a window for China to raise rates, given that Beijing is scheduled to release a slew of economic indicators, including the inflation data for November, next week. <br />
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<b>Most Brazilian blue chips dropped in Wednesday trading. </b><br />
<br />
Vale SA (VALE5.BR, VALE), the world's biggest iron-ore producer, fell 1.9% to BRL49.25. Government-controlled energy giant Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, slumped 1.4% to BRL25. Usinas Siderurgicas de Minas Gerais (USIM5.BR, USNZY), Brazil's biggest maker of flat steel for the automotive industry, dropped 2.1% to BRL19, while rival Cia. Siderurgica Nacional (CSNA3.BR, SID) declined 1.4% to BRL27.13. Telephone giant Tele Norte Leste SA (TNE, TNLP4.BR), or Oi, slipped 1.6% to BRL23.93. Minas Gerais utility Cemig (CIG, CMIG4.BR) retreated 1.5% to BRL28.50. Aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), or Embraer, climbed 1.3% to BRL12.36.<br />
<br />
<br />
At the market open Brazilian stocks opened lower Wednesday on speculation interest rate increases at home will stifle growth as trade partner China threatens to cool its own economy. <br />
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The benchmark Ibovespa stock index opened at 69,033 points, down 0.44% from Tuesday's close of 69,338. <br />
<br />
Consumer prices in Latin America's biggest economy rose for a third consecutive month in November, cementing bets the central bank will raise rates by the beginning of next year. <br />
<br />
<i>Most Brazilian blue chips dropped in early trading. </i><br />
<br />
Vale SA (VALE5.BR, VALE), the world's biggest iron-ore producer, fell 0.3% to BRL49.91. Government-controlled energy giant Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, was little changed at BRL25.33. Usinas Siderurgicas de Minas Gerais (USIM5.BR, USNZY), Brazil's biggest maker of flat steel for the automotive industry, dropped 0.3% to BRL19.10, while rival Cia. Siderurgica Nacional (CSNA3.BR, SID) declined 0.3% to BRL27.18. Telephone giant Tele Norte Leste SA (TNE, TNLP4.BR), or Oi, slipped less than 0.1% to BRL24.30. Minas Gerais utility Cemig (CIG, CMIG4.BR) retreated 0.1% to BRL28.85. Aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), or Embraer, fell 0.1% to BRL12.11.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil's Central Bank Buys Dollars</span><br />
The Brazilian Central Bank bought U.S. dollars at an auction Wednesday for BRL1.6835 to the dollar, the bank said. <br />
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Brazil's central bank has been purchasing dollars at near-daily spot market auctions since May 2009 to build foreign reserves after suspending such auctions in September 2008.<br />
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<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Close Lower Tuesday</span><br />
The benchmark Ibovespa stocks index closed 0.3% lower at 69338, down from Monday's close at 69552. Trading volume was moderate to heavy at 6.01 billion Brazilian reais ($3.57 billion). <br />
<br />
Local stocks got off to a booming start because of the market's positive expectations for a budget deal in recently rescued Ireland, which should cut government spending by EUR6 billion and raise taxes on the emerald isle. <br />
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In Brazil, markets also got a little insight into the mind of Alexandre Tombini, selected by President-elect Dilma Rousseff to lead the Brazilian central bank. Tombini pledged to keep a lid on inflation while working to reduce interest rates. <br />
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But investors trimmed positions ahead of the close, perhaps hedging bets ahead of the release of key economic indicators and the central bank's final meeting of the year. <br />
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<i>The bank's Copom rate-setting panel, of which Tombini is a voting member, is expected to leave the Selic base interest rate steady at 10.75% Wednesday. </i><br />
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The bank, however, is expected to send the market a clear message about the future direction of rates, analysts and economists said. Interest rates are expected to start rising in January to counter rising inflation. <br />
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<i>The Brazilian Census Bureau, or IBGE, also will release November inflation figures Wednesday. Third-quarter gross domestic product figures are due Thursday. </i><br />
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Consumer prices in Brazil have raised concerns, with many expecting November's official IPCA consumer price index to advance for a fourth-consecutive month. The rolling 12-month inflation rate jumped to 5.47% through mid-November, above the government's official year-end target of 4.5%. <br />
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Brazil's economy, meanwhile, is expected to continue showing booming growth in the third quarter. GDP is expected to surge to an annual rate of 6.7% in the third quarter, according to a survey of 14 economists polled by Dow Jones Newswires. Many economists expect Latin America's largest economy to end 2010 with growth of 7.5%. <br />
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Higher base metals prices on the London Metals Exchange, including an intraday record for copper prices, boosted shares of mining giant Vale SA (VALE, VALE5.BR). Vale closed 0.5% higher at BRL50.45. <br />
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Lower international oil prices, however, undercut shares of state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras. Petrobras shares ended 1.6% lower at BRL25.45. <br />
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Independent driller OGX Petroleo e Participacoes (OGXP3.BR) climbed 1.1% to BRL19.96. <br />
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Steel makers were broadly higher in a bit of bargain-hunting, analysts said. The sector has been battered in recent weeks amid poor pricing power and elevated stocks. Shares of integrated steelmaker CSN (SID) added 0.9% to BRL27.66, while flat steel maker Usiminas (USIM5.BR) ended 0.8% higher at BRL19.60. Long steel giant Gerdau (GGB) was among the day's biggest gainers, surging 2.7% to BRL21.89. <br />
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Among the day's biggest losers were brewer AmBev (ABV, AMBV4.BR), which lost 1.4% to close at BRL234.06. Cosmetics maker Natura (NATU3.BR) slid 2.0% to BRL47.81, while retailer Lojas Renner (LREN3.BR) lost 2.4% to BRL57.86.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazil Stocks Close Lower Monday</span></div>Brazil's benchmark Ibovespa stocks index closed 0.31% lower at 69,552 points. Volume was moderate at 4.65 billion Brazilian reais ($2.77 billion).<br />
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investors are increasingly convinced the Brazilian Central Bank will have to raise interest rates as early as January to hold back rising inflation. <br />
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Brazil's official inflation rate is currently 5.5%, well above the government's 2010 target of 4.5%. The next official inflation data is due for release Wednesday and may show another advance in the 12-month rate. <br />
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According to economists at Sao Paulo's Banco Safra, the central bank will likely begin rate increases in January. The central bank's Selic base rate is already a towering 10.75%. Safra economists are forecasting 1.5 percentage points in total rate increases during the first half of 2011. <br />
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Higher interest rates will tend to siphon investment money away from stocks and toward fixed-income investments.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The Brazilian Stock Exchange released its report Monday on November performance. The figures showed a decline in average daily volume to BRL6.31 billion from BRL7.77 billion in October. The Ibovespa index ended November at 67,705 points for a loss on the month of 4.2%. <br />
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Foreign investors led volume in November and tended to buy into the market for the long term, traders said. Foreign investors were responsible for 34% of volume in November.<br />
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<span style="font-size: large;">Blue Chips Were Mixed At The Close. </span><br />
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State oil company Petrobras (PBR, PETR4.BR) advanced 0.16% to close at BRL25.86 and mining company major Vale SA (VALE, VALE5.BR) saw its shares rise 0.28% to BRL50.23, but real estate giant Gafisa (GFSA3.BR) retreated 0.14% to BRL11.88. <br />
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Steel maker Usiminas (USIM5.BR, USNZY) rose 3.57% to close at BRL19.45, but aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), or Embraer, was a loser, dropping 0.13% to close at BRL12.27.And Minas Gerais utility Cemig (CMIG4.BR) gave up 0.55% to close at BRL29.05.<br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Brazil Nov Farm Vehicle Sales Fall 11.2%</span></span><br />
Farm vehicle sales in Brazil, the world's second-largest oil seeds and grains producer, tumbled 11.2% to 4,700 units in November compared with a year earlier, the Brazilian Motor Vehicle Manufacturers Association, or Anfavea, said Monday. November sales were also down 19.1% from October, the trade association Anfavea said. <br />
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Production of farm vehicles rose 1% to 7,332 units last month from the year-earlier November. Production of farm vehicles rose 40.9% to 84,646 units for the first 11 months of this year compared with the same period in 2009, according to Anfavea.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil's Vale To Start Trading In Hong Kong</span><br />
Brazilian mining giant Vale SA (VALE, VALE5.BR) said it will start trading shares on the Hong Kong stock exchange this week to boost its visibility in Asian markets. Vale decided to list Hong Kong depositary receipts to allow investors the option to trade Vale shares in various time zones. <br />
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<span style="font-size: x-large;">MEXICO:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FRIDAY STOCKS EDGE HIGHER FRIDAY</span><br />
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Mexican shares recovered from early session losses to post gains Friday, aided by an uptick in U.S. shares as economic data hinted at better days to come. <br />
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The IPC index of Mexico's 35 leading shares advanced 0.3% to 37678 on volume of 5.55 billion pesos ($446 million), with 15 of the index's components rising to positive territory. The Dow Jones Industrial Average closed Friday up 0.4%. <br />
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The index had touched an intraday high on Tuesday of 38119, above the 38000 year-end target that many analysts have for it. Year-to-date, the IPC is up nearly 17%, and many local market participants are still hoping for a late-year, rally. <br />
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In local economic news, gross fixed investment in Mexico grew 6.8% in September from a year earlier, its fastest annual expansion in two years. The Mexican data are a good omen as analysts look for signs of internal economic activity picking up the slack from a slowing export sector. <br />
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The peso strengthened modestly to close at 12.4520 to the dollar, compared with MXN12.4800 in morning trade and MXN12.4845 at the close Thursday. <br />
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Among Mexican stock gainers, wireless carrier and market benchmark America Movil rose 1% to MXN35.37, mining firm Grupo Mexico jumped 2.2% to MXN47.93 on strong copper prices and pharmaceuticals company Genomma Lab added 0.7% to MXN29.90. <br />
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Genomma Lab said Friday it anticipates an Ebitda margin of 25.5% in 2011 on sales growth compared with 2010 in the range of 30% to 32%, aided by a string of recent acquisitions. Genomma Lab has purchased more than a dozen brands since its 2008 initial public offering. <br />
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The company reported net sales of MXN4.12 billion in the first nine months of this year, 49% higher than in the like-2009 period, and an Ebitda margin of 22.8%. <br />
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Among Friday's stock decliners, beverage and retail group Femsa retreated 0.4% to MXN69.70, construction firm ICA pulled back 1.3% to MXN32.28 and cement group Cemex fell 1.2% to MXN12.25. <br />
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Cemex said late Thursday that the European Commission has decided to initiate formal proceedings against Cemex and seven other cement companies due to possible anticompetitive practices in 10 European countries. <br />
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Europe's major cement makers in 1994 were fined 248 million euros ($322 million) for running a cement cartel. The amount of the fine was reduced to 140 million euros after the companies won an appeal in 2004. <br />
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Cemex said the EC told the Mexican firm that initiating proceedings "does not imply that the Commission has conclusive proof of the infringements but merely signifies that the Commission will deal with the case as a matter of priority." <br />
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Mexican brokerage Ixe reported that homebuilder Urbi held an investor day Friday. The company told analysts that it expects to close the year with 10% sales growth over 2009, an Ebitda margin above 27% and net profit margin above 13%, Ixe said. For 2011, Urbi guided analysts toward 12%-14% sales growth and profit and Ebitda margins similar to those it forecasts for this year. Urbi shares dropped 1.2% to MXN28.36 in Friday trade.<br />
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<br />
In morning trading, Mexican shares were edging lower Friday, pulling further away from their recent record gains. Around 10:30 a.m. ET, the IPC index of Mexico's 35 leading shares was down 0.4% at 37402 on volume of 843 million pesos ($68 million), with 23 of the index's components in negative territory. <br />
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<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico's Stocks Close Lower Thursday</span><br />
Mexican shares pared back some of their intraday losses late Thursday, but still closed lower as the investment mood soured in the U.S. </div><div style="font-family: Arial,Helvetica,sans-serif;">The IPC index of Mexico's 35 leading shares shed 50 points, or 0.1%, to close at 37567, with 21 of the index's components in the red. Earlier in the session, however, the index was down as much as 164 points. Volume was healthy with 5.41 billion pesos ($434 million) changing hands. </div><div style="font-family: Arial,Helvetica,sans-serif;">The IPC touched an intraday high Tuesday of 38119, above the 38000 year-end target that any analysts have for the index. Year-to-date, the IPC is up more than 17%. "The excess of international capital is still searching for opportunities, so it's likely that the IPC will have another rally after having consolidated its recent gains," Mexican research firm MetAnalisis said in a morning note. <br />
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Among Mexican blue chips, wireless communications carrier and market benchmark America Movil fell 1% to MXN35.02, cement maker Cemex gained 0.9% to MXN12.40, copper miner Grupo Mexico rose 0.4% to MXN46.88 and retailer Walmex dipped 0.2% to MXN35. <br />
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Walmex, Mexico's largest retailer, reported disappointing November sales data this week that prompted analysts to question the company's pricing strategy and the pace of the consumer spending recovery in Mexico. <br />
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In local economic news, the central bank reported that Mexico's monthly inflation accelerated in November to the fastest clip since January but fell slightly short of analysts' expectations, as widely-expected price increases for electricity and fresh produce materialized. <br />
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The consumer price index rose 0.8% in November from October, pushing the rate of price increases over the past year up to 4.32% from 4.02% at the end of October. The peso weakened against the dollar to close at MXN12.4845 versus MXN12.4540 in early trade and MXN12.4120 at the close Wednesday.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico Stocks Decline Wednesday</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Mexican stocks closed lower Wednesday as profit-taking took back some of the bourse's recent stellar gains, including a record high close in the prior session. <br />
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The IPC of Mexico's 35 leading shares trimmed 0.7% to 37618 on tepid volume of 4.69 billion pesos ($378 million). The index touched a new intraday high in the prior session of 38119, before investors began consolidating gains for issuers that appear overbought. <br />
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Year-to-date, the IPC is up more than 17%, making it one of the world's top-performing stock indexes for 2010. <br />
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Among specific shares, wireless communications firm and market benchmark America Movil dropped 0.8% to MXN35.36, while copper miner Grupo Mexico advanced 0.3% to MXN46.71 on record copper prices, and retailer Walmex fell 1.1% to MXN35.06 following a weak sales report. <br />
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Mexican consumer confidence slipped for a second consecutive month in November, mainly as expectations for the country's economic situation became less optimistic. <br />
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Mexican shares were losing ground early Wednesday as investors took profits on recent heady gains and U.S. shares struggled to advance. <br />
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Around 10:30 a.m. EST, the IPC of Mexico's 35 leading shares was down 0.6% to 37665 on thin volume of 770 million pesos ($62 million). The index touched a new intraday high in the prior session, of 38119, before investors began consolidating gains as some issuers appeared overbought. <br />
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Year-to-date, the IPC is up more than 17%, making it one of the world's top-performing stock indexes for 2010. <br />
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Wireless communications firm and market benchmark America Movil was off 0.6% to MXN35.42 in early trade while copper miner Grupo Mexico dipped 0.7% to MXN46.27 and retailer Walmex fell 1% to MXN35.11. <br />
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Walmex's November sales data, released Tuesday, disappointed. Mexico's top retailer said same-store sales expanded 0.5% from the year-ago month, well below a market consensus estimate of 2% growth. <br />
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Analysts with Credit Suisse attributed the weak showing to the negative impact of the last payday of the month taking place on a Wednesday, likely leading some transactions to be postponed until the first weekend of December. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The Mexican peso was strengthening against the dollar to MXN12.4270 from MXN12.4980 at the prior session's close, when the Mexican currency depreciated more against the dollar than any other Latin American currency. Local banks expect the peso to end this year at MXN12.30 and finish 2011 at MXN12.40, according to median estimates in a survey published every two weeks by local Citigroup unit Banamex, the latest of which came out Tuesday.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico Stocks Edge Higher Tuesday</span><br />
<i><b>Mexican stocks are higher early Tuesday, adding to their record gains. </b></i><br />
At about 10:45 a.m. EST, the IPC index of Mexico's 35 leading issues was advancing 0.6% to 37952 on hearty volume of 1.44 billion pesos ($116 million). At these levels, the index is now up 18% on the year. <br />
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Wireless-communications provider and market benchmark America Movil was edging up 0.2% to MXN35.65, cement maker Cemex was rallying 1.1% to MXN12.39, and mining interest Grupo Mexico was surging 2.4% to MXN46.43 as copper hit a record high. <br />
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Also Tuesday, Ferrovalle, a rail line partly owned by Grupo Mexico, was working to free two cargo trains that derailed Monday, obstructing cargo traffic and a commuter line in Mexico State. <br />
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The peso was lagging Tuesday, trading at 12.3815 to the dollar compared with MXN12.3700 at Monday's close.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico Stocks Move Higher Monday</span><br />
Mexican stocks were moving higher early Monday in an attempt to shrug off the worries about the U.S. and European economies that were weighing on markets <br />
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The IPC index of Mexico's 35 leading shares was ahead 0.3% to 37,500 on volume of 785 million pesos ($63.5 million).</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The Mexican bourse has been on a tear in recent months, breaking one technical ceiling after another. Year-to-date, the IPC is up 16.4%. The peso was trading weaker against the U.S. dollar at MXN12.3770 versus 12.3380 at Friday's close. <br />
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Wireless communications provider and market bellwether America Movil was up 0.2% to MXN35.41, cement maker Cemex was 2% higher at MXN12.21 and retailer Walmex was up 0.9% at MXN35.11.<br />
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<span style="font-size: x-large;">CHILE:</span><br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">WEDNESDAY:</span></div><b>All markets, businesses and government offices in Chile will be closed Wednesday for a religious holiday. </b><br />
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<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHILE'S STOCKS RISE TUESDAY</span><br />
Chile's blue-chip Ipsa index ended higher Tuesday, tracking rising U.S. markets and as select shares gained on positive forecasts for future growth <br />
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The IPSA ended 0.5% higher at 4989.05, while market volume grew to 125.6 billion Chilean pesos ($263.6 million), compared to CLP79.9 billion the prior session. <br />
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<b><i>All markets, businesses and government offices in Chile will be closed Wednesday for a religious holiday. </i></b><br />
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As several of the Ipsa's heavier-weighted shares also trade in New York, the IPSA often tracks the Dow Jones Industrial Average. The DJIA recently rose 0.6% to 11427 as investors applauded an agreement between President Barack Obama and Republican leaders in Congress that would extend the Bush-era income tax cuts for two years. <br />
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Among dually listed shares, specialty chemical and fertilizer producer SQM's (SQM) more liquid B-series shares (SQM-B.SN) jumped 1.8% to CLP26,400.00 on forecasts for continued strong growth. <br />
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"SQM is rising on the back of expectations that prices for fertilizer products will continue to rise on strong demand," said Rodrigo Arriagada, trader with local brokerage Molina y Swett. <br />
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Construction and real estate companies were again among the strongest component on the Ipsa, as expectations are for the sector to reap the benefits from a ramp-up of post-earthquake reconstruction activities. <br />
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Within the sector, construction company Besalco (BESALCO.SN) gained 2.9% to CLP1,039.00, rival SalfaCorp (SALFACORP.SN) jumped 4.5% to CLP1,780.00, and real-estate developer Socovesa (SOCOVESA.SN) climbed 4.8% to CLP413.00. <br />
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Local investment bank and brokerage LarrainVial recently increased SalfaCorp's year-end 2011 target price to CLP1,900 a share, from CLP1,500 a share. <br />
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Also gaining, retail holding giant Cencosud (CENCOSUD.SN) rose 1.4% to CLP3,683.90 after it became the only Latin American retailer to have an investment-grade rating. Moody's Investors Service and Fitch Ratings recently gave the retail holding giant Baa3 and BBB- ratings, respectively. <br />
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The peso closed stronger versus the dollar, hitting a 31-month high in intraday trading before paring back some of its earlier gains, as international copper prices hit a record and intraday high in nominal terms. The peso ended at CLP476.80 to the dollar, versus the prior session's close of CLP478.70, while trading in a range of CLP475.00 to CLP477.40. <br />
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In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended mixed after November's consumer-price-index rose 0.1% from the previous month, in line with expectations. <br />
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The yield on five-year BCU bonds ended at 2.69%, from 2.71% on Monday, while the yield on 10-year BCUs closed unchanged for a second straight session at 2.87%.<br />
<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile November Copper Exports Rise To $3.84B</span></div>The value of Chile's copper exports in November rose to $3.84 billion from $2.90 billion a year earlier, the central bank said Tuesday. <br />
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The year-on-year increase was due to the higher copper prices on international markets. Chile is the world's largest copper producer and exporter. <br />
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Chile's overall mining exports, including molybdenum, iron, silver, iodine and lithium, increased to $4.26 billion in November from $3.12 billion a year earlier. <br />
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According to state copper commission Cochilco, spot copper prices averaged $3.84 a pound on the London Metal Exchange in November, surpassing the $3.03 a pound the metal averaged the same month last year. In January-November, prices averaged $3.35 a pound, compared with $2.68 a pound for the same period in 2009. <br />
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Accumulated copper exports for the first 11 months of the year rose to $34.78 billion from $24.22 billion in the same period of 2009, while overall mining exports increased to $38.33 billion from $26.92 billion during the same period last year. <br />
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Chile is the world's largest copper producer, accounting for about a third of global production. It is also one of the world's biggest producers of iodine, lithium and molybdenum.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile's November CPI Gains 0.1%</span><br />
Chile's consumer price index in November rose in line with a consensus of analysts due to higher housing, water, electricity, gas and fuel costs, the government statistics institute reported Tuesday.The INE's new CPI includes nationwide pricing. <br />
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The CPI increased 0.1% in November from the previous month, in line with the median estimate of a 0.1% increase. Estimates ranged from increases of 0.1% to 0.2%.The core CPI fell 0.1% from the previous month. For the 11-month period, core CPI, which factors out volatile fresh produce and fuel prices, rose 2.2% on the year. <br />
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For the January-November period, the CPI has gained 2.9%, said the institute, known locally as the INE.Both January-November inflation and 12-month referential inflation are getting closer to the central bank's inflation target of 3%, plus/minus one percentage point in a 24-month policy horizon. <br />
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<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile Stocks End Lower Monday</span></div>Chile's blue-chip Ipsa index ended lower Monday as economic activity data came in below expectations and as U.S. markets flitted in and out of the red. <br />
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After paring back its losses late in the session, the Ipsa ended 0.1% lower at 4963.15, while market volume grew to 79.9 billion Chilean pesos ($167 million), compared to CLP71.4 billion the prior session. <br />
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Power generator Endesa fell 1.2% to CLP905.50; its parent company, energy holding company Enersis lost 1.1% to CLP227.02; and flagship carrier LAN Airlines shed 0.8% to CLP15,150. <br />
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Also declining, holding company Cruzados SADP, which manages the Universidad Catolica soccer team, dropped 16.7% to CLP257 as investors booked profits after the sports team became national champions after a five-year dry spell. Cruzados, which isn't on the Ipsa, had seen its shares soar 30.7% over the last seven days as the soccer team qualified for the championship game. <br />
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Construction and real estate companies were the strongest component on the Ipsa, as expectations are for the sector to benefit from a ramp-up of post-earthquake reconstruction activities. <br />
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Within the sector, construction company Besalco gained 2% to CLP1,010, rival SalfaCorp jumped 4.5% to CLP1,703.50 and real-estate developer Socovesa climbed 2.8% to CLP394.01. <br />
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The sector got a boost after local investment bank and brokerage LarrainVial increased SalfaCorp's year-end 2011 target price to CLP1,900 a share, from CLP1,500 a share. <br />
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The peso ended stronger against the dollar, inching toward a 31-month high, as international copper prices steadied at the $4-a-pound level. The peso ended at CLP478.70 to the dollar compared to Friday's close of CLP479.50 after trading in a range of CLP478.15 to CLP482. <br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Chile New Car, Light Truck Sales Nearly Double On-Year</span> <br />
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Sales of new automobiles and light trucks in Chile for the January through October period this year have nearly doubled to 258,533 units, the country's Anac automotive association said Monday. During the same period in 2009, sales totaled 132,718 units. <br />
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With Chile quickly recovering from last year's recession--its first in a decade--and a devastating February earthquake, by the end of August the country had surpassed the total number of units sold in 2009 with 173,514. <br />
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"With these numbers, we'll start to see the stock of brand [names] get back to normal levels, and the figures also confirm the market's growth, which we've seen since April this year," Anac General-Secretary Gustavo Castellanos said. <br />
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For the month of October, sales of new automobiles and light trucks surged 67% to 30,061 units from the comparative year-ago period, the automotive association said. <br />
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Anac sees sales growing to 280,000 units in 2010 and to 320,000 units in 2011. It previously expected sales of 260,000 units for the year, compared with sales of 172,044 for 2009, but increased its outlook on Chile's fast-paced recovery and robust domestic demand. <br />
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Chile's gross domestic product grew a slight 1.6% on the year in the first quarter, hurt by the devastating 8.8-magnitude February earthquake. GDP recovered to 6.6% and 7% growth in the second and third quarters, respectively, on reconstruction efforts and increased investments.<br />
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<span style="font-size: x-large;">ARGENTINA:</span><br />
FRIDAY:<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina's Stocks Rise Friday</span><br />
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Argentine stocks ended the week with moderate gains. The Merval Index of leading shares added 0.7% to close at 3,390.87 points. Volume was moderate at ARS63 million ($16 million). However, the Merval ended the week 0.9% lower after losses spurred by profit-taking on Thursday. <br />
<br />
On Friday, the local market tracked shares in New York, which edged higher on a surge in U.S. October exports and brightening consumer sentiment. However, the gains were tempered after China's central bank said it will raise banks' reserve requirement ratio, thus reducing the amount of money China's banks have to lend. <br />
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In Buenos Aires, the gains were led by Petrobras Argentina SA (PESA), which rose 3.4% to ARS9.41. It is the local unit of Brazilian oil giant Petrobras (PBR). <br />
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Argentina's largest power company, Pampa Energia SA (PAMP), said late Thursday that it has partnered with Petrobras Argentina to develop a gas field in the province of Neuquen that will guarantee the fuel supply of its massive Loma de la Lata electricity generation plant. <br />
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The two companies have entered into an agreement to develop the El Mangrullo field, under which Pampa Energia will acquire rights to 43% of the hydrocarbons produced at the field in exchange for investing $16 million to drill wells. <br />
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Pampa Energia and Petrobras Argentina expect to obtain total natural gas production of 400,000 cubic meters a day from the wells, according to Pampa Energia. Pampa Energy's shares ended Friday 1.5% lower at ARS2.67. <br />
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The peso gained ground against the dollar Friday, as exporters kept pumping dollars into the exchange market. The peso strengthened to 3.975 to the dollar from 3.978. As usual, the Central Bank stepped in to prevent a further strengthening of the peso, buying $40 million during a day when total volume totaled $335 million, local brokerage Puente said in a market note. <br />
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Bonds were little changed on Friday, posting mixed results. The peso-denominated 2033 discount bond edged 0.03% higher in price terms to ARS183.75, to yield 7.21%. The dollar-denominated Global 2017 slipped 0.61% in price terms to ARS407.50, with the yield at 8.49%.<br />
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Thursday:<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">ARGENTINA INCREASES WHEAT PRODUCTION</span></div><i><b>Argentine Exchange Raises Wheat Estimate To 13M Tons</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Higher-than-expected yields in Argentina's wheat crop have increased production expectations by 300,000 metric tons to 13 million tons, the Buenos Aires Cereals Exchange said in its weekly crop report Thursday. So far, about a quarter of the crop has been harvested, with output seen rising almost 40% from last season, the exchange said. <br />
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The exchange also pegged sunflower seed area at 1.73 million hectares, with planting all but complete. Recent showers in the main sunflower seed areas allowed farmers to finish much of the remaining planting and conditions are generally good, the exchange said. <br />
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The exchange's soybean forecast was held at 18.7 million hectares, with almost two-thirds of the crop planted to date. Dryer conditions starting in November have slowed planting somewhat, with the pace down about six percentage points from that of last season, the exchange said. <br />
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The exchange also held its corn forecast at 3.15 million hectares, with about 83% of the crop seeded so far. While much of the crop is in good shape, dry weather is affecting the developing corn plants in a number of areas, which will likely affect yields, according to the exchange.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina Stocks Hit New Record High Monday</span><br />
Argentina's stocks closed at a record high and bonds logged modest gains on Monday. The benchmark Merval index rose 1.2% to close at 3462.76 points. Volume totaled 66.5 million pesos ($16.7 million). <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Shares of electricity distribution firm Edenor (EDN, EDN.BA) rose 3.9% to ARS2.90; shares of telecommunications firm Telecom Argentina (TEO, TECO2) rose 2.5% to ARS20.30; and shares of banking concern Grupo Financiero Galicia (GGAL, GGAL.BA) closed 1.2% higher at ARS6.65. <br />
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Barclay's Capital said in a report Monday that it has started coverage of Telecom Argentina's shares with an overweight rating and price target of $29 per American depository receipt. Telecom Argentina's ADRs closed at $25.31 in New York. <br />
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Turnover on the local bond market was ARS587.7 billion, equivalent to nearly 77% of the total volume of securities traded on the Buenos Aires Stock Exchange during the session. <br />
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Argentina's government on Monday offered investors the opportunity to swap their holdings of defaulted Brady Bonds for a basket of U.S. dollar-denominated Argentine bonds as well as a cash payment. Argentina is seeking to retire $262.9 million in U.S. dollar bonds maturing in 2023, as well as EUR54.2 million in Deutsche Mark bonds also maturing that same year. <br />
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Investors who tender their Brady Bonds will receive a combination of Argentina's U.S. dollar-denominated 2033 discount bonds, Global 2017 bonds, 2035 GDP Warrants and a cash payment. The peso-denominated 2033 discount bond closed 0.3% higher at ARS186, yielding 7.09%. The Bogar 2018 closed up 0.2% at ARS227.15, yielding 5.80%. <br />
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The Boden 2015, considered a good proxy for measuring the appeal of newly issued government bonds or the government's ability to sell them, rose 0.7% to ARS377.50, yielding 8.86%. <br />
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The Global 2017 bond, issued in June as part of the government's debt swap with the holders of defaulted bonds, closed 0.7% higher at ARS411, yielding 8.3%. <br />
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Argentina's 2035 peso-denominated GDP warrants rose 1.1% to ARS13.58, while U.S. dollar-denominated GDP warrants with the same maturity closed 1.3% higher at ARS56. <br />
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The peso was quoted closing in interbank markets at ARS3.98 to the U.S. dollar, unchanged from Friday.<br />
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<span style="font-size: x-large;">PERU:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Peru's Stock Indexes End Higher Friday</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Peru's main stock market ended higher Friday as key stocks were boosted by international market gains despite softer metals prices. <br />
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The Lima Stock Exchange's broad General index was up 0.16% to close at 21843.42. The Selective blue-chip index rose 0.02%, closing at 30467.07. The mining subindex rose 0.27%. <br />
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Gaining were industrial stocks including brewer and beverage producer Union de Cervecerias Peruanas Backus & Johnston SAA (BACKUSI1.VL), which rose 1.79% to close at 5.70 soles ($2.03). Leading cement producer, Cementos Lima (CEMTY, CEMLIMC1) was up by 1.08% to close at PEN4.70. <br />
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Also gaining ground despite lower metals prices was miner Southern Copper Corp. (SCCO, SCCO.VL), up 1.75% to close at $46.60. <br />
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Most mining stocks were lower, however, with precious metals miner Compania de Minas Buenaventura SAA (BVN, BUENAVC1) down 2.86% to close at $49.25 and Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) down 1.05% to close at $47. <br />
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The sol ended slightly weaker at PEN2.828 per dollar. In the previous session the sol closed at PEN2.824. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Peru's Central Bank Says Oct Trade Surplus At $424 Mln</span></div><br />
Peru posted a trade surplus of $424 million in October, and an accumulated January to October trade surplus of $4.99 billion, the Central Reserve Bank of Peru's chief economist, Adrian Armas, said Friday in a conference call with reporters. <br />
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In October 2009, Peru posted a trade surplus of $573.6 million. For 2009, Peru posted a trade surplus of $5.87 billion.<br />
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<span style="font-size: x-large;">VENEZUELA:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Venezuela November Oil Output </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Falls To 2.19 Million Barrels/Day</span><br />
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Venezuela's crude output in November was 2.19 million barrels a day, its lowest level this year and slightly under the previous month's 2.21 million barrels a day, the International Energy Agency said Friday. <br />
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Oil production in Venezuela is a matter of frequent debate. The government claims output is about 2.9 million barrels of crude a day, which is much higher than the monthly figures reported by the IEA and others such as the Organization of Petroleum Exporting Countries. <br />
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Venezuela says it will boost production capacity in the coming years through the further development of its oil-rich Orinoco region, and say overall capacity by 2020 could be around 6 million barrels a day. <br />
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The IEA says Venezuela's production capacity in 2015 is likely to be 2.62 million barrels a day, not much higher than this year's production capacity of 2.42 million barrels a day. <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Markets:</span><br />
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<br />
<b>FRIDAY: </b></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">IMF: To Postpone Board Vote On Irish Bailout</span><br />
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The board of the International Monetary Fund will delay a vote on the IMF's EUR22.5 billion portion of a European bailout for Ireland, a spokesman said Friday. <br />
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The vote--originally expected Friday--was postponed to give the Irish parliament time to consider the joint emergency funding package. <br />
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With the parliamentary vote scheduled for Dec. 15, and assuming parliamentary support, the IMF said its managing director could recommend approval of the Fund's portion of the loan to the board for a vote as soon as Dec. 16. <br />
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"The authorities have informed us that while parliamentary approval of the E.U.-IMF support package is not legally required, the Irish Government has put the motion before parliament to strengthen political support for the agreement," an IMF spokesman said. <br />
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"We welcome the first implementation measures of the 2011 budget--stipulating the fiscal consolidation path and important reform measures involved in the program--have recently been passed by the Irish Parliament, confirming Ireland's strong commitment to the program and the policies involved," the spokesman said. <br />
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<b>THURSDAY:</b> EURO STOXX 50 2,837.59 +18.64 (0.66%)<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Stocks Close Slightly Higher Thursday</span><br />
The Stoxx Europe 600 index ended up 0.3% at 275.93. The U.K.'s FTSE 100 closed up 0.2% at 5808.0, Germany's DAX slipped 0.2% to 6964.16, and France's CAC-40 closed 0.7% higher at 3858.05. By 1650 GMT, the Dow Jones Industrials Average was down 0.3% at 11333.43. In Europe, volumes were low and news flow was light.<br />
The euro closed down 0.5% at $1.3193, and the British pound declined 0.4% to $1.5736. <br />
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As the European markets drew to a close, the European Central Bank released its semiannual Financial Stability Review. It said if governments' fiscal-consolidation efforts start to slide, an "unsustainable debt spiral" could be on the cards. This will likely be food for thought for the start of Friday's European session. <br />
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Also on Friday, investors will be looking forward to U.K. PPI for November at 0930 GMT. <br />
Early in Europe, France's CAC-40 was up 0.7 per cent at 3,858.85 and Germany's DAX rose 0.5 per cent to 7,013.24. Britain's FTSE 100 gained 0.6 per cent to 5,831.16. <br />
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<b>WEDNESDAY:</b> The Stoxx Europe 600 index ended up 0.4% at 275.0. The passing of the Irish austerity budget late Tuesday helped sentiment somewhat, but the session was choppy overall. The U.K.'s FTSE 100 closed down 0.2% at 5794.53, Germany's DAX slipped 0.4% to 6975.87 but France's CAC-40 closed 0.6% higher at 3832.0.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">In Dublin, the ISEQ index rose 1%. Spain's IBEX 35 climbed 1.6% and Italy's FTSE MIB gained 1.4%. Greece's ASE Composite declined 0.7%, however, amid a public transport strike in Athens. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">By the close of European equity markets, most actively traded gold for February delivery on the Comex division of the New York Mercantile Exchange fell $27.30 per ounce, or 1.9%, to $1381.70, dragged lower after bond yields soared.</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
In Early market trading Wednesday, European markets recorded broad gains, pushing the Stoxx Europe 600 index up 0.7% in intraday trading.<br />
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<b>TUESDAY: </b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Spot Gold Steady Tuesday, Supported For Further Gains </span><br />
Spot gold is trading just below its new record high in Europe Tuesday and, supported by uncertainty around the euro zone debt situation and talk of possible further easing of U.S. monetary policy, market participants tip further gains for the yellow metal. <br />
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MONDAY<b>:</b> EURO STOXX 50 2,761.61 <br />
Europe's major indexes ended either flat or mildly higher. The Stoxx Europe 600 index ended up 0.2% at 271.38, while the U.K.'s FTSE 100 index gained 0.4% to 5770.28. Germany's DAX index rose 0.1% to 6954.38, and France's CAC-40 index closed flat at 3749.23.<br />
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Late in Europe, the euro was at $1.3295, from $1.3411 late Friday in New York. The dollar was at 82.68 yen, little changed from Friday's late level of 82.71 yen. <br />
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The December futures contract for gold on the Comex division of the New York Mercantile Exchange was up 0.9% at $1,418.10 per troy ounce. In mid-afternoon trade in New York, light, sweet crude for January delivery was largely flat at $89.14 a barrel. <br />
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Despite Monday's gains, much of the mood was hampered by the worries surrounding indebted euro-zone nations, with many casting their eyes on the Irish government, as the country prepares to vote on its budget Tuesday. Commodity stocks helped pull European stock markets off their lows Monday. Mining, oil and gas shares rose on hopes that additional stimulus would devalue the dollar, which in turn would push commodity prices higher. <br />
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Europe’s finance ministers are meeting today in Brussels after Belgian Finance Minister Didier Reynders said on Dec. 4 the region’s bailout fund could be increased to stem contagion from the sovereign crisis. European Union leaders are meeting in Brussels to discuss whether their EUR750 billion euro ($1.01 trillion) rescue fund might need to be increased. <br />
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Credit rating agency Moody's Investors Service downgraded Hungary's government bond ratings by two notches,, citing concerns about fiscal sustainability. The move kept the country in investment-grade territory but maintained its negative rating outlook. <br />
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<span style="font-size: x-large;">LONDON:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">London Stocks Mixed Friday</span><br />
FTSE 100 5812.95 +4.99 +0.09%<br />
FTSE 250 11280.96 +17.58 +0.16%<br />
DJ UK Smaller Companies 948.49 +4.20 +0.44%<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK November CPI Seen Remains Above 3% </span><br />
With commodity prices still high, U.K. consumer price inflation is set to remain elevated in November. But the pace of the monthly rise should be slower than that reported in October as holiday promotions get under way.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">UK November Factory Gate Prices Rise Less Than Expected </span><br />
U.K. annual factory-gate price inflation eased unexpectedly in November due to a smaller year-on-year increase in petroleum prices, the Office for National Statistics said Friday. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Petrol Prices Reach Record</span><br />
<i><b>Average Fuel Price Chart Jan 2009-Dec 2010</b></i><br />
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<a href="http://news.bbcimg.co.uk/media/images/50375000/gif/_50375050_fuel_prices_466gr.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="262" src="http://news.bbcimg.co.uk/media/images/50375000/gif/_50375050_fuel_prices_466gr.gif" width="320" /></a><br />
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Petrol prices have hit a record average level of 121.76p for a litre of unleaded petrol, according to the monitors Experian Catalist. It is expected that fuel prices will rise further in January once increased fuel duties and the higher VAT rate come into play.<br />
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Experian Catalist estimates that higher VAT will add 2.5p and fuel duties will add a further 1p a litre to prices. The diesel price of 125.73p a litre is 8p away from its record of July 2008. The records referred to do not take account of inflation.<br />
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AA president Edmund King said the record high petrol prices were up due to disrupting fuel deliveries. The price of oil - currently at about US$88 a barrel - has been trading at its highest level for this year and is also putting pressure on fuel prices.<br />
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The AA said the record fuel prices meant motorists would have to pay an average of almost £6 more to fill an average tank compared with the start of the year.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Anglo American Gets Key License For Minas-Rio Iron Ore Project </span>Mining company Anglo American PLC (AAL) said Friday it received a key license for the development of its Minas-Rio iron ore project in Brazil, clearing the way for it to begin construction of the mine site in March next year.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Move On University Fee Boost Sparks Major Protests</span></div><div style="font-family: Arial,Helvetica,sans-serif;">The U.K.'s coalition government narrowly won a vote to raise the cap on tuition fees, a key political victory that came against a backdrop of large-scale student protests outside Parliament and an attack on the Prince of Wales's car.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">Rolls Royce Engine Fire Costs May Be As High As $500M</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Rolls-Royce Group PLC (RR.LN) could face costs of $500 million over the next few years to deal with the consequences of an explosion last month in one of its Trent 900 engines, the Financial Times reports Friday, citing aviation experts</span>.<br />
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THURSDAY: FTSE 100 5,807.96 +13.43 (+0.23%) <br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">London Stocks End Slightly Up, Financials Lead</span><br />
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FTSE 100 5807.96 +13.43 +0.23%<br />
FTSE 250 11263.38 +44.69 +0.40%<br />
DJ UK Smaller Companies 879.67 -0.38 +0.04% <br />
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<br />
London's FTSE 100 finishes with mild gains, led higher by financials and banks. Although the index closes up, volumes are fairly low and the session has been rather directionless. The index hardly reacts after the Bank of England keeps the rate and its asset purchase program unchanged . IG Index notes though that the UK trade deficit disappoints.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">The Bank of England keeps its lending rate at 0.5%.</span></div>The Bank of England's Monetary Policy Committee Thursday left its key interest rate and the stock of its bond purchases unchanged, and is unlikely to alter its policy for many months to come. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Bank Levy To Raise About GBP2.5B From 2012 </span><br />
The U.K.'s five major banks will each pay hundreds of millions of pounds to the U.K. government each year as a charge for their risks to the economy, under final draft legislation released Thursday.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Bk Levy Will Cost GBP788M In Next 2 Yrs </span>Royal Bank of Scotland Group PLC (RBS) has estimated the new U.K. bank levy on large banks will cost it GBP788 million in the next two years. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BAE Plans To Ax More Than 1,300 UK Jobs </span><br />
Defense giant BAE Systems PLC (BA.LN) Thursday said it plans to cut more than 1,300 jobs in the U.K. as the company outlined the impact of the government's defense review on its operations.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Moves To Ease Corporate Tax Burden</span><br />
The U.K. government Thursday moved to ease the tax burden on British companies with overseas branches, setting out plans to allow them to exempt the profits of those branches from U.K. corporation tax, and also plans for new rules on the taxation of foreign subsidiaries that it hopes will stop more companies moving their headquarters abroad.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Halifax November House Prices -0.1% MM</span><br />
U.K. house prices fell on the year in November, for the first time in 12 months, as more properties were advertised for sale but demand for the increasing number of available properties fell further, a survey reported Thursday.<br />
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<br />
<b>WEDNESDAY:</b><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">London Stocks Ends Lower</span><br />
<br />
FTSE 100 5794.53 -13.92 -0.24%<br />
FTSE 250 11218.69 -80.75 -0.71%<br />
DJ UK Smaller Companies 940.84 -4.25 -0.45%<br />
FTSE 100 finishes slightly lower. Strong CBI industrial trends dampens any hopes that the Bank of England will announce any further monetary easing measures at the Monetary Policy Committee meeting on Thursday.<br />
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U.K. Chancellor of the Exchequer George Osborne said Wednesday he wanted the Bank of England's Monetary Policy Committee to have maximum flexibility in its policy.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The Bank of England's Monetary Policy Committee is most likely to leave its key interest rate and bond purchases unchanged at its meeting ending Thursday, as it waits to see whether recent signs of economic strength can be sustained.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The U.K. economy is stabilizing as businesses become more confident about the country's outlook, but a contraction in growth is still possible in the first two quarters of next year, consulting firm BDO LLP said Wednesday.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">U.K. shop price inflation dropped back in November for the first time since June as both food and non-food prices rose at a slower pace than in October, a survey shows Wednesday. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">UK Industrial Output Expected To Pick Up</span></div>U.K. industrial output is expected to pick up in the three months from December, with export orders hitting their strongest level for more than 15 years, a survey by the Confederation of British Industry showed Wednesday.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">Ivanhoe, Rio Agree On Financing</span></div>Canada-based Ivanhoe Mines Ltd (IVN.T) said Wednesday it has reached an agreement with global miner Rio Tinto PLC (RIO) to raise up to $6.5 billion in funds to develop the first phase of Mongolia's massive Oyu Tolgoi copper and gold deposit.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">BP Considers Sale Of North Sea Assets</span></div>BP PLC is sounding out other energy companies about selling off North Sea assets worth $1 billion, as it seeks funds to pay for the Gulf of Mexico oil spill, according to a person familiar with the matter.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">CSC Shares Fall</span></div>Shares in Capital Shopping Centres Group PLC (CSCG.LN) dropped Wednesday after analysts discounted the chances of Simon Property Group Inc. (SPG) making a bid for the group and blocking CSC's planned purchase of Manchester's Trafford Centre.<br />
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<br />
<br />
<br />
<b>TUESDAY: </b><br />
FTSE 100 5808.45 +38.17 +0.66%<br />
FTSE 250 11299.44 +148.09 +1.33%<br />
DJ UK Smaller Companies 945.09 +4.68 +0.50%<br />
<br />
London Stocks End Higher Tuesday</div><div style="font-family: Arial,Helvetica,sans-serif;">FTSE 100 ends up, hitting an intraday high of 5850.4, its highest point since November 10. Ireland's austerity budget brings some cheer to investors, who are relieved the country will finally be able to access a EUR67.5Bln financial aid package. Also, investors applaud the extension in the U.S. to the Bush-era income tax cuts.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Higher metal prices boost the miners, which dominate the upside. Tesco ends +2.4% on well-received results. "Backing up the bullish sentiment is the decent economic data being released and we saw that with strong UK manufacturing numbers today," adds Angus Campbell at Capital Spreads. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i>On Wednesday, CBI industrial trends are at 1100 GMT.</i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Economy Seen Growing 0.6% In 3 Months To Nov</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">The U.K. economy continued to enjoy solid growth in the three months to November, economic research group, the National Institute of Economic and Social Research said Tuesday.</span><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;"><br />
</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">UK Oct Manufacturing Sees Another Robust Rise </span></div><div style="font-family: Arial,Helvetica,sans-serif;">U.K. manufacturing output in October increased at its fastest monthly pace since March, the Office for National Statistics said Tuesday, underlining the sector's growing role in the country's economic recovery.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Nov Retail Sales Buoyed By Food, Clothing</span></div><div style="font-family: Arial,Helvetica,sans-serif;">U.K. retail sales rose at a similar pace in November from October boosted by food, clothing and footwear, although the increase again reflected higher food prices as well as extra sales of clothing ahead of the key December trading period, the British Retail Consortium retail sales survey showed Tuesday.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">J Sainsbury, Tesco Market Shares Rise In 12 Weeks To Nov 28</span></div><div style="font-family: Arial,Helvetica,sans-serif;">The market share of the U.K.'s biggest retailer by sales, Tesco PLC (TSCO.LN), and the third-largest, J Sainsbury PLC (SBRY.LN), rose in the 12 weeks to Nov. 28, according to Kantar Worldpanel market share data Tuesday.</div><br />
<br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Tesco Leans On International Growth</span><br />
<br />
Tesco PLC (TSCO.LN) will have to rely on international markets to fuel its strong sales growth as the U.K., its largest market, looks set to remain subdued well into 2011.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Admiral In Talks To Sell German Car Insurance Business </span> </div><div style="font-family: Arial,Helvetica,sans-serif;">U.K. car insurer Admiral Group PLC (ADM.LN) said Tuesday it is in exclusive talks to sell its loss-making AdmiralDirekt insurance business in Germany to German insurer Itzehoer Versicherung, signalling an exit after just three years in that market.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Xstrata: $1.3 Bln Platinum, Ferrochrome Projects Planned </span><br />
Xstrata PLC (XTA.LN) is expanding its platinum and ferrochrome output through $1.3 billion worth of projects, the company's chief executive for alloys said Tuesday.<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">London Stocks End Up Monday</span></div>FTSE 100 5770.28 +24.96 +0.43%<br />
FTSE 250 11151.85 +69.18 +0.62%<br />
DJ UK Smaller Companies 943.98 +8.17 +0.87%<br />
<br />
FTSE 100 ends up near the highest levels of the day, with oil and gas stocks advancing on hopes the Federal Reserve may take some more steps to boost economic growth, after Ben Bernanke's comments on CBS television. BP +3.4%. Xstrata ends +3.4%. On the downside, Vedanta Resources ends -2.2%, after UBS cuts its target price on the stock.<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i>Tuesday's data plate includes UK industrial production at 0930 GMT. </i><br />
<br />
British supermarket giant Tesco fell 1.6% after it was downgraded to neutral from buy at UBS. The downgrade sent chills throughout the retail sector. New car sales in UK down 11.5 pct on the year in November, 5th straight decline. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">AstraZeneca's Brilinta Gets European Marketing Approval </span><br />
AstraZeneca PLC (AZN.LN) said Monday that its experimental blood thinner Brilinta has received marketing approval in Europe after the orally administered drug won backing from regulators there in late September.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Vitol:To Market Tullow Share Of Ghana's Jubilee Oil Production </span>Commodities trading house Vitol SA said Monday it has been awarded an exclusive contract to market Tullow Oil PLC's (TLW.LN) share of oil production from the Jubilee field offshore Ghana, which will start up next month. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Alternative Networks Full-Year Pretax Profit Climbs 30%</span> </div><div style="font-family: Arial,Helvetica,sans-serif;">U.K. business communications provider Alternative Networks PLC (AN.LN) Monday posted a 30% rise in full-year pretax profit as it gained mobile and fixed-line customers and boosted margins.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Alternative Networks Eyes Data Services Buys </span> </div><div style="font-family: Arial,Helvetica,sans-serif;">U.K. business communications provider Alternative Networks PLC (AN.LN) is weighing up acquisition targets in the data sector, as it aims to boost data services' share of group revenue to around one third, the firm's chief executive said Monday.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">GERMANY:</span><br />
MONDAY: Germany's DAX index rose 0.1% to 6954.38<br />
<br />
On Monday, German Chancellor Angela Merkel said she sees no need for an increase of the size of the current financial safety net for troubled euro-zone member states. <br />
<br />
Metro declined 1.2% in Frankfurt. <br />
<br />
<span style="font-size: x-large;">FRANCE:</span><br />
CAC 40 3,749.23 (-0.04%)<br />
<br />
Carrefour fell 2.5% in Paris <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">FRANCE SIGNS NUCLEAR PACTS WITH INDIA</span><br />
French President Nicolas Sarkozy announced he signed agreements that pave the way for France's sale of billions of dollars of nuclear reactors to India. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">CONTINENTAL GUILTY IN CONCORDE CRASH</span><br />
A French court has found Continental Airlines and one of its mechanics guilty of criminal wrongdoing in the crash of a supersonic Concorde jet outside Paris a decade ago.<br />
<br />
<br />
<span style="font-size: x-large;">IRELAND:</span><br />
FRIDAY:Dublin Stocks: ISEQ Ends -0.5% At 2,832; AIB -12% <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">IRELAND CUTS MINIMUM WAGE, MINISTERS' SALARIES</span><br />
Irish lawmakers pass legislation to lower the minimum wage and cut ministers' salaries and pensions for public sector workers, following the approval of the social welfare bill.<br />
<br />
<br />
THURSDAY:<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">LABOR PARTY TO VOTE AGAINST</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;"> BANK BAILOUT</span></div><i><b>Ireland's Labor Party To Vote Against IMF/EU Bailout</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Ireland's Labor Party on Thursday said its members would vote against the International Monetary Fund and European Union's EUR85 billion bailout package when the measure comes before parliament next week, Reuters reported on its website, citing a party spokeswoman. <br />
<br />
"Labour would vote against it because we consider it a bad deal," said the spokeswoman, who wasn't identified. According to Reuters Thursday. </div><div style="font-family: Arial,Helvetica,sans-serif;"> Read the full story at: <a href="http://www.reuters.com/article/idUSWLA043620101209">www.reuters.com/article/idUSWLA043620101209</a> </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">IRISH PARTIES TO VOTE AGAINST BAILOUT PACKAGE</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Ireland's Sinn Fein and Labour Party say they will vote against the country accepting a US$67.5 billion aid package from the European Union and International Monetary Fund next week.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">IRELAND UNVEILS HARSH BUDGET</span><br />
Irish Finance Minister Brian Lenihan unveiled the toughest budget in the country's history that will see €6 billion in spending cuts and tax increases carve a swathe across all parts of society.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">IRISH BUDGET AWAITS CRUCIAL SUPPORT</span><br />
Ireland's crumbling Fianna Fail-led coalition has one final task before it calls an election: make sure the 2011 budget is passed.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Ireland's Budget Receives Independent Support</span> </div>Ireland's struggling Fianna Fail-led government received a boost Monday after Independent lawmaker Michael Lowry said he will vote to support the government's 2011 budget in the national interest. <br />
<br />
The Fianna Fail/Green Party coalition needs a two-seat parliamentary majority with Lowry and another Independent lawmaker, Jackie Healy-Rae, to pass the budget. Political commentators expect Healy-Rae to follow suit.<br />
"I believe we have no alternative but to honor and comply with the budgetary parameters as set out in the agreement with the European Union/International Monetary Fund," Lowry said. <br />
<br />
He said people who earn most should take the burden of taxation measures, but said he was ultimately "duty-bound" to support the budget. "The consequences of not passing the budget would be disastrous for Ireland." <br />
<br />
"In this instance, I am making a hard decision and I make it, in what I see, are in the interests of the Irish people," he told reporters in a statement Monday afternoon. Earlier Monday, Healy-Rae told Kerry Radio in his home county that he had received assurance from Prime Minister Brian Cowen that Kenmare would receive a hospital and Tralee would get a motorway by-pass. <br />
<br />
<span style="font-size: x-large;">SPAIN:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">SPAIN REOPENS AIRSPACE AFTER WALKOUT</span><br />
Spanish airports were back operating at normal levels after a 24-hour strike by air traffic controllers caused travel chaos for hundreds of thousands of people.<br />
<br />
<br />
<span style="font-size: x-large;">RUSSIA:</span><br />
<br />
FRIDAY:<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Russia Central Bank Withholds Ruble Support</span><br />
<br />
Russia's central bank held off support for the ruble Friday, declining to sell foreign currency for the first time in a month and a half, the deputy chairman said. The ruble strengthened slightly Friday, rising to a two-month high of 35.42 to the central bank's dollar-euro basket. It appreciated to 30.88 against the dollar at the close of Micex trade. <br />
<br />
Alexei Ulyukayev also said the Bank of Russia sold less foreign currency in the first week of December than in the same period in November. <br />
<br />
The central bank sold $4.76 billion in November, up from $3.23 billion in October, in an effort to support the ruble amid an outflow of private capital. <br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Asian Pacific Markets:</span><br />
<b>WEDNESDAY:</b> Japan's Nikkei Average closed up 0.9% as the weaker yen helped boost export stocks. But in Shanghai and Hong Kong, shares tumbled 1% and 1.4%, respectively. <br />
<br />
TUESDAY:Most Asian markets showed gaines Monday. The MSCI Asia Pacific Index added 0.2 percent to 133.64, extending a three-day gain, while futures on the Standard & Poor’s 500 Index lost 0.1 percent. TOPIX 880.74 +1.52 (0.17%).<br />
<br />
<span style="font-size: x-large;">CHINA:</span><br />
<b>FRIDAY: </b>Shanghai 2,841.04 +30.09 (1.07%) <br />
Hang Seng Index 23,162.91 -8.89 (-0.04%)</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">China's central bank on Friday increased the amount of money that lenders must keep on reserve for the third time in one month, a move to mop up excess cash in the economy and rein in inflation. <br />
<br />
China Petrochemical Corp, parent of Sinopec Corp , agreed to buy all of U.S.-based Occidental Petroleum Corp's oil and gas assets in Argentina for $2.45 billion, One of China's largest social networking companies, Oak Pacific Interactive, has hired investment banks for an initial public offering in the United States next year, </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
THURSDAY: Shanghai 2,810.95 -37.60 (-1.32%)<br />
Hang Seng Index 23,171.80 +79.28 (0.34%) <br />
<br />
TUESDAY: Shanghai 2,875.86 +18.68 (0.65%)<br />
Hang Seng Index 23,428.15 +190.46 (0.82%) <br />
<br />
<br />
<b>TUESDAY:</b> China’s benchmark Shanghai Composite index rebounded from early losses to gain 0.7 per cent, despite speculation that Beijing may hike interest rates soon. Hong Kong’s Hang Seng Index, meanwhile, also bounced back to rise 0.8 per cent. China, a key growth driver for the world, is grappling with how to douse rising prices and cool its still red-hot economy without causing too fast a slowdown.<br />
<br />
<span style="font-size: x-large;">CHINA RESERVES ON THE RISE</span><br />
<i><b>Bank Reserve Ratio May Increase Further</b></i><br />
<br />
China may raise banks' reserve requirement ratio at the start of next year to curb capital inflow and control lending rates, central bank adviser Li Daokui has said. His comments came after the Chinese Communist Party Central Committee's Political Bureau said it would shift from a relatively loose to a prudent monetary policy to fight inflation and curb excessive liquidity.<br />
<br />
The People's Bank of China raised lending and deposit rates by 25 basis points in October, the first time since 2007. It also raised banks' reserve ratio twice in November to a record level of 18.5 percent to tackle inflation.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA CLONES RUSSIAN FIGHTER JETS</span><br />
The Chinese have gone from importing high-tech Russian arms to reverse engineering that technology to compete for sales with its former supplier in flash points across the globe.<br />
<br />
<br />
<span style="font-size: x-large;">JAPAN:</span><br />
<b>FRIDAY: </b>Nikkei 225 10,211.95 -73.93 (-0.72%) <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">JAPAN REVISES GDP UPWARD</span><br />
Japan revised upward its third-quarter economic growth figure, but the revision isn't enough to dispel the gloom that other recent indicators have been casting over the economy's prospects. <br />
<br />
<br />
THURSDAY:Nikkei 225 10,285.88 +53.55 (0.52%) <br />
Japan's economy grew faster than estimated in the third quarter.Japan's benchmark Nikkei 225 stock average closed up 0.5 per cent to 10,285.88 as the dollar hovered near 84 yen, bolstering exporters who in past months were struggling against a much stronger yen.<br />
<br />
<br />
MONDAY: Nikkei 225 10,163.86 -14.46 (-0.14%)<br />
<br />
About three stocks gained for every two that declined on MSCI’s Asian index. Taiwan’s Taiex index climbed 1 percent after Nomura Holdings Inc. raised its rating on the island’s equities to “bullish” from “bearish” amid optimism for improved economic relations with China.<br />
<br />
Japan’s Nikkei 225 Stock Average lost 0.2 percent, retreating from the highest since June, after a slump in the dollar on Dec. 3 weighed on Canon Inc. and the country’s exporters. <br />
<br />
<span style="font-size: x-large;">SOUTH KOREA:</span><br />
South Korea’s won rose to a two-week high.<br />
<br />
Hyundai Motor Co. fell 1.1 percent after South Korea and the U.S. revised a stalled free-trade accord, allowing the U.S. to end a 2.5 percent tariff on automobiles in five years, instead of immediately or after three years, as was previously agreed. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. Asia Talks Focus On North Korea</span><br />
The U.S., Japan and South Korea will discuss North Korea's uranium enrichment and other developments related to its nuclear ambitions in Washington next week, Japan's top diplomat said Friday.<br />
<br />
Japanese Foreign Minister Seiji Maehara said he plans to discuss with his U.S. and South Korean counterparts "what kind of factors should be incorporated" into the premise of holding multilateral talks proposed by China.<br />
<br />
The U.S., Japan and South Korea will hold talks next week as the nations plan a joint strategy on dealing with North Korea after its deadly artillery bombardment of South Korea. Secretary of State Clinton is scheduled to meet with representatives from the other two nations to discuss developments in the region. Meanwhile, South Korea is planning to hold its own military exercises next week, including drills on flash point border islands in parts of the Yellow Sea that are disputed with the North. <br />
<br />
<br />
<br />
<span style="font-size: x-large;">AUSTRALIA:</span><br />
<b>THURSDAY:</b><br />
Australia's S&P/ASX 200 climbed 0.9 per cent to 4,741.30 amid figures showing the unemployment rate fell to 5.2 per cent and the number of employed people jumped by 54,600. <br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;"><br />
</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">Australia ACCC Allows Potential New South Wales Power Deals</span></div>Australia's competition watchdog said Thursday it won't oppose possible takeover deals suggested by AGL Energy Ltd. (AGK.AU) and Origin Energy Ltd. (ORG.AU) linked to the up to A$10 billion privatization of power assets by New South Wales state.<br />
<br />
<br />
<div class="gsstx"></div><div class="gsstx"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span class="gsstx">Unemployment Rate Dropped to 5.2%</span></span><span class="gsstx"> </span></div><div class="gsstx"><span class="gsstx">The Australian Dollar moved higher after the Australian Bureau of Statistics reported that employment in the country surged 54.6K in November, well above the 20K increase that was expected. </span></div><div class="gsstx"><br />
</div><div class="gsstx"><span class="gsstx">This was the largest rise in employment since January and the second largest since late-2006. The prior month’s job gains were revised higher as well, with the ABS estimating job gains of 36.9K for October, up from 29.7K. </span></div><div class="gsstx"><br />
</div><div class="gsstx"><span class="gsstx">The unemployment rate for Australia fell from 5.4% to 5.2%. This was despite the fact that the labor force participation rate advanced from 65.9% in October to 66.1%, which is the highest level ever recorded. </span></div><div class="gsstx"><span class="gsstx"> </span> </div><span class="gsstx">Despite the much better-than-expected employment figures, market-based interest rate expectations for Australia remain muted. There is only an 8% probability that the Reserve Bank of Australia hikes rates at the next meeting in February. Additionally, only 35 basis points of hikes are expected over the course of 2011, though this is up from 17 basis points just last week. </span><br />
<br />
<span class="secondary-box-teaser">WEDNESDAY: Australia’s employment change is expected to rise 20.0K in November after climbing 29.7K the month prior, while the unemployment rate is foretasted to fall to 5.2 percent. </span><br />
<br />
MONDAY: The Australian S&P/ASX 200 index (AU:XJO 4,689, -5.60, -0.12%) </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">This week, central banks in Australia, South Korea and New Zealand will release policy decisions. Economists noted that the latest data showed softness even before the Reserve Bank of Australia hiked its key cash rate in early November.Tuesday’s meeting of the RBA is likely to see the RBA holding its key cash rate steady at 4.75%, said economists at Capital Economics. </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Rio Tinto Discusses $3.5 Billion Riversdale Deal </span><br />
Riversdale Mining Ltd. (RIV.AU) said Monday it has been in talks with mining giant Rio Tinto (RIO)over a US$3.51 billion takeover, leading to a surge in its share price amid expectations that a higher offer would be needed.<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(FRIDAY, DEC 10, 2010 4:00 PM EST)</b></i><br />
<br />
EUR/USD 1.3230 -0.0009 (-0.07%)<br />
USD/JPY 83.8900 +0.1200 (0.14%)<br />
GBP/USD 1.5802 +0.0025 (0.16%)<br />
CAD/USD 0.9912 +0.0021 (0.21%)<br />
USD/HKD 7.7730 -0.0008 (-0.01%)<br />
USD/CNY 6.6550 +0.0001 (0.00%)<br />
AUD/USD 0.9852 +0.0009 (0.09%)<br />
<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(FRIDAY, DEC. 10, 2010 4:00 PM EST)</b></i><br />
<br />
Shanghai 2,841.04 +30.09 (1.07%)<br />
Nikkei 225 10,211.95 -73.93 (-0.72%)<br />
Hang Seng Index 23,162.91 -8.89 (-0.04%)<br />
TSEC 8,718.83 -35.01 (-0.40%)<br />
FTSE 100 5,812.95 +4.99 (0.09%)<br />
DJ EURO STOXX 50 2,839.53 -1.18 (-0.04%)<br />
CAC 40 3,857.35 -0.70 (-0.02%)<br />
S&P TSX 13,239.95 +73.01 (0.55%)<br />
S&P/ASX 200 4,745.90 +4.60 (0.10%)<br />
BSE Sensex 19,508.89 +266.53 (1.39%)<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FRIDAY'S U.S. ECONOMIC CALENDAR:</span><br />
<br />
<br />
<b>8:30 a.m.</b><br />
Oct U.S. International Trade in Goods & Services Deficit (expected -44B), Exports (expected 154.1B), Exports Percent Change (previous +0.3%), Imports (previous 198.1B), Imports Percent Change (previous -1%)<br />
<br />
<b>8:30 a.m.</b><br />
Nov Import & Export Price Indexes Import Prices (expected +0.8%), Non-Petroleum Prices (previous +0.4%), Petroleum Prices (previous +3.3%)<br />
<br />
<b>8:30 a.m.</b><br />
World Agricultural Supply & Demand Estimates (WASDE) <br />
<br />
<b>9:55 a.m.</b><br />
Dec Thomson Reuters / University of Michigan Survey of Consumers - preliminary Sentiment Index Mid Month (expected 73), Expectations Index Mid Month (previous 62.7), Value (Current Period) Mid Month (previous 79.7)<br />
<br />
<b>2:00 p.m.</b><br />
Nov Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt (expected -126.5B)<br />
<b>EARNINGS REPORTS:</b><br />
<br />
A handful of apparel and retail companies--including Talbots Inc. (TLB), Men's Wearhouse Inc. (MW) and Oxford Industries Inc. (OXM)--are expected to report their latest quarterly results next week. <br />
<br />
Analysts polled by Thomson Reuters projected a mixed performance from the trio, with top- and bottom-line growth only expected from Men's Wearhouse, which operates stores for men in the U.S. and Canada.<br />
<br />
Tax-service providers H&R Block Inc. (HRB) and Jackson Hewitt Tax Service Inc. (JTX) are scheduled to report results on Tuesday and Friday, respectively. Wall Street analysts expected H&R to report slightly better results, while Jackson Hewitt's fiscal second-quarter loss is seen widening.<br />
<br />
Other companies expected to report their latest earnings next week include auto-parts retailer AutoZone Inc. (AZO) on Tuesday and gun maker Smith & Wesson Holding Corp. (SWHC) on Wednesday.<br />
<br />
<b>ECONOMIC CONFERENCES:</b><br />
<br />
Among the significant conferences next week are the Credit Suisse Group Holiday Conference Monday through Wednesday in Orlando, Fla.; UBS Global Media and Communications Conference Monday through Wednesday in New York; the Canaccord Genuity Cardio/Diabetes & Obesity Conference on Tuesday and Wednesday in San Francisco; the Goldman Sachs U.S. Financial Services Conference on Tuesday and Wednesday in New York; the William Blair & Co. LLC Global Services Growth Stock Conference on Tuesday and Wednesday in Scottsdale, Ariz.; the Barclays Capital Global Technology Conference on Wednesday and Thursday in San Francisco; and the Macquarie Securities Alternative Energy Conference: Powering Change on Wednesday and Thursday in New York. <br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, THUR., DEC. 9, 2010:</span><br />
<br />
<b>Stocks:</b><br />
U.S. stocks finished mixed, with a loss for the Dow Jones Industrial Average and a gain for the Nasdaq Composite. The mixed activity followed conflicting economic data. Initial unemployment claims fell by more than expected last week, but the previous week's figures were revised slightly upward. Meanwhile, inventories of U.S. wholesalers rose more than expected in October.<br />
<br />
<br />
<b>Treasurys:</b><br />
Longer-dated Treasurys rose as the bond market showed some tentative signs of recovery after the biggest two-day sell-off in two years. The key boost came from a strong 30-year bond auction. Higher yields also brought in fresh buyers who snapped up cheapened bonds, betting that the recent sell-off may have run its course. <br />
<br />
<b>Forex:</b><br />
The dollar gained against most other currencies. The dollar lost ground to the yen as U.S. bond yields fell after a strong 30-year Treasury bond sale. The dollar hit a session low of Y83.51 right after the auction, reversing the recent trend of the greenback trading higher as U.S. yield spreads widened over some rival sovereigns. <br />
<br />
<br />
© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com1tag:blogger.com,1999:blog-11562244.post-56788263344313300352010-11-29T07:36:00.000-08:002010-12-06T17:44:07.713-08:00Stock Market Update - Nov. 29 - Dec, 3, 2010 Choppy Gains Seen<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Friday, December 3, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="separator" style="clear: both; font-family: Arial,Helvetica,sans-serif; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>USA EQUITY INDEXES: (DEC. 03, 4:05 PM EST)</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>==(FRIDAY'S CLOSING INDEX NUMBERS)==</b><br />
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<b>Dow Jones 11,382.09 <span style="color: #274e13;">+19.68 (+0.17%)</span></b><br />
<b>S&P 500 1,224.71 <span style="color: #274e13;">+3.18 (+0.26%)</span></b><br />
<b>Nasdaq 2,591.46 <span style="color: #274e13;">+12.11 (+0.47%)</span></b><br />
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<b>Dow Jones CLOSING Averages 12/03/2010: DJIA 11,382.09 UP 19.68</b><br />
30 INDUS 11,382.09 UP 19.68 OR 0.17%<br />
20 TRANSP 5,068.81 UP 31.24 OR 0.62%<br />
15 UTILS 399.03 UP 1.36 OR 0.34%<br />
65 STOCKS 3,978.42 UP 13.52 OR 0.34%<br />
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<i><b>US COMMODITY PRICES: (DEC. 03, 4:05 PM EST)</b></i><br />
Crude Oil 89.43 + 0.27%<br />
Natural Gas 4.33 - 0.39%<br />
Gasoline 2.36 + 0.41%<br />
Heating Oil 2.50 + 0.40%<br />
Gold 1414.78 + 2.13%<br />
Silver 29.37 + 2.87%<br />
Copper 4.00 + 0.58%<br />
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<i><b>US DOLLAR FUTURES INDEX DXY: DEC. 03,<span style="font-size: small;"> </span></b></i><small><span style="font-size: small;"><b><span id="yfs_t10_dx-y.nyb">4:00PM EST</span>:</b></span> </small><big><b><span id="yfs_l10_dx-y.nyb">79.19</span></b></big> <span class="yfi_quote_price" id="yfs_c10_dx-y.nyb"><img alt="Down" border="0" height="14" src="http://l.yimg.com/a/i/us/fi/03rd/down_r.gif" width="10" /> <b class=" yfi-price-change-down
" style="color: red;">1.11</b></span><span style="color: red;"> </span><span class="yfi_quote_price" id="yfs_p20_dx-y.nyb" style="color: red;"><b class=" yfi-price-change-down
"> (1.38%)</b></span></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Dollar Falling - U.S. Stocks Higher, Gold Breaks Record Highs</span> </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Us Stocks Flat As Dollar Declines</b></i><br />
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US Stocks edged higher at the close, as the dollar took one of it largest declines since last October. The Dow Jones Industrial Average climbed 19.68 points, or 0.17%, to 11382.09 on Friday, extending its December rally to a third day. The measure climbed 2.6% this week, boosted by a dose of better-than-expected economic reports. <br />
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The Nasdaq Composite gained 12.11, or 0.47%, to 2591.46, its highest close in nearly three years. The Standard & Poor's 500-stock index rose 3.18, or 0.26% to 1224.71. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Bernanke To Tell Nation This Sunday: </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">More Quantitative Easing Coming</span><br />
<i><b><span id="articleText">The "60 minutes" program is scheduled for 7 p.m.</span></b></i><br />
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A late afternoon announcement from Reuters: "The euro rose to a session peak against the dollar in late afternoon New York trade on Friday after a report on the CBS website that Federal Reserve Chairman Ben Bernanke did not rule out buying more than $600 billion of bonds in further quantitative easing."<br />
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<a href="http://www.reuters.com/article/idUSTRE6B26BR20101203?WT.tsrc=Social%20Media&WT.z_smid=twtr-reuters_biz&WT.z_smid_dest=Twitter">http://www.reuters.com/article/idUSTRE6B26BR20101203?WT.tsrc=Social%20Media&WT.z_smid=twtr-reuters_biz&WT.z_smid_dest=Twitter </a><br />
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<span id="articleText"><span class="focusParagraph">U.S. Federal Reserve Chairman Ben Bernanke will appear on the news program "60 minutes" on Sunday, part of an effort by the central bank to step up its public communications.<br />
</span><span id="midArticle_0"></span>The move comes as the Fed's decision last month to purchase an additional $600 billion caused a flurry of criticism from politicians in Washington, who argue the central bank is playing with fire and courting future inflation.<br />
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<span id="midArticle_1"></span>The CBS television network said Bernanke would discuss "pressing economic issues, including the unemployment rate, the deficit and the Fed's controversial $600 billion U.S. Treasury bill purchase."<br />
<span id="midArticle_2"></span><br />
</span><br />
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At mid-afternoon, U.S. stocks slipped on Friday after the unemployment rate rose to its highest level since April, but investors hoped the disappointing jobs report could strengthen lawmakers' resolve to take action to boost the economy. The euro strengthened against the dollar, trading recently at $1.3377, up from $1.3207 late Thursday in New York. The U.S. Dollar Index, which tracks the currency against a basket of others, fell 1.2%. <br />
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The Dow Jones Industrial Average fell 22 points, or 0.2%, to 11341 in recent trading. The Nasdaq Composite edged up 0.1% to 2582. The Standard & Poor's 500-stock index lost 0.2% to 1219, weighed by its financial sector. <br />
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Financials also led the Dow's declines after surging in the past two days. J.P. Morgan Chase fell 1.2%, while American Express shed 1%. Bank of America was off 0.5%. <br />
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Stocks ended a two-day rally on Friday after the November jobs report came in much weaker than expected. But other economic reports cushioned the disappointment over the weak labor-market data.<br />
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Friday morning stocks opened lower to flat against a lower dollar. The euro strengthened against the dollar, trading recently at $1.3351, up from $1.3207 late Thursday in New York. The U.S. Dollar Index, which tracks the currency against a basket of others, fell 1%. Investor holdings in gold exchange-traded funds climbed this week as China took major positions and investors moved in for safety. Spot gold is at $1,408 an ounce and Silver is now trading over $29.28 an ounce. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NO JOBS IN AMERICA</span><br />
<i><b>Jobless Rate Rises to 9.8% Percent. as job growth stalls </b></i><br />
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U.S. Non-farm payrolls rose by 39,000 in November as private-sector employers added just 50,000 jobs, the Labor Department said Friday. A separate survey showed the unemployment rate unexpectedly rose to 9.8% last month.<br />
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U.S. VP Biden says that job figures are 'disappointing' and that if unemployment benefits are not extended, U.S. will 'lose 600,000 jobs.' <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">FACTORY ORDERS DECLINED</span></div>Factory orders fell in October, but the 0.9% decline was not as severe as the 1.1% drop economists had forecast. Factory orders fall 0.9% to $420.09 billion in October, the first decline in four months, as a key driver of the economy is hurt by a lack of demand for transportation and other durable goods.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NON-MANUFACTURING INDEX UP</span><br />
U.S. non-manufacturing sector expands in November, with ISM's index rising to 55.0 from 54.3 in October, meeting expectations. ISM says last month's business activity/production index slipped to a still-high 57.0 from 58.4 in October.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PRESIDENT OF THE U.S. IN AFGHANISTAN</span><br />
President Barack Obama to meet with Afghanistan President Karzai and U.S. Gen. Petraeus, the Associated Press reports. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-size: large;">AT THE OPEN</span><br />
U.S. stocks fell Friday morning after the unemployment rate rose to its highest level since April, dousing the market's expectations and underlining the labor market's continued weakness. <br />
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The Dow Jones Industrial Average declined 20 points, or 0.2% to 11342. AT&T led the measure's declines, sliding 1.1%. The Nasdaq Composite shed 0.3% to 2572. The Standard & Poor's 500-share index lost 0.3% to 1218. <br />
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At the open the dollar declined against the euro, recently up 1% to $1.3341. As the U.S. Deficit Commission Votes 11-7 For the final report, It fails to get 14 votes needed from panel to proceed. <br />
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The U.S. deficit commission received the backing of an 11th member as Rep. John Spratt (D., S.C.) became the sixth lawmaker who sits on the panel to voice support for its final report. <br />
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Rep. Xavier Becerra (D., Calif.) and Andrew Stern, former president of the Service Employees International Union, followed Spratt by saying they would oppose the finding, meaning that the panel won't reach the 14 votes required to possibly trigger congressional votes on the commission's findings. The commission has 18 members. <br />
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Considering the breadth of the recommendations in the panel's final report which range from an overhaul of the tax code to aggressively cutting spending to widespread changes to the Social Security program, many economists concluded the commission served its purpose. <br />
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"With the issuing of this report, we begin a national debate," Spratt said in declaring his support for the plan. Sen. Richard Durbin (D., Ill.), the assistant majority leader who declared his support for the plan Thursday evening, said that the onus was now on Congress to take up the mantle. <br />
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"When we borrow 40 cents of every dollar we spend--whether it's for the Pentagon or for food stamps--that's not sustainable," Durbin said. Rep. Jeb Hensarling (R., Tex.) has yet to declare how he intends to vote for the plan. He is expected to do so shortly. <br />
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THURSDAY: The Dow Jones Industrial Average finished Thursday up 106.63 points, or 0.95%, to 11362.41. The blue-chip index has gained 3.2% in the first two days of December, its largest two-day rise since July 8.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The technology-oriented Nasdaq Composite gained 29.92 points, or 1.17%, to 2579.35. The Standard & Poor's 500-stock index gained 15.46, or 1.28%, to 1221.53, led by its financial, industrial and material sectors. All 10 of its sectors finished in positive territory.<br />
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As the dollar paused, U.S. stocks climbed Thursday, extending the market's strong start to the month as good chain-store sales and better-than-expected pending home sales painted a brighter picture for the U.S. economy. <br />
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Also helping stocks, pressure on the euro eased on talk that the European Central Bank was actively buying more bonds of some of the bloc's more financially stressed governments. <br />
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The Dow Jones Industrial Average was up 92 points, or 0.8%, to 11348 in midday trade. Bank of America and J.P. Morgan Chase were among the Dow's strongest components after Goldman Sachs lifted its view on the financial sector to overweight, marking the first time the firm has been positive on financials since 2008. Bank of America climbed 2.8% and J.P. Morgan added 2.4%. <br />
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The Nasdaq Composite rose 0.9% to 2572. The Standard & Poor's 500-share index gained 1% to 1218, led by its financials and industrials sectors.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Boosting sentiment for the holiday shopping season, sales at retail stores opened more than a year rose 6% in November, above the estimated growth of 3.6% and the year-ago gain of 0.6%, according to Thomson Reuters. Shares of Abercrombie surged 11% after the teen retailer posted a 22% jump in its November same-store sales. Other retailers that climbed on better-than-expected sales included J.C. Penney, up 2.5%, and Costco Wholesale, up 0.9%. <br />
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Investors were also encouraged by the National Association of Realtors' pending home sales index, which unexpectedly soared 10.4% to 89.3. The report boosted home-improvement retailers and home builders. Lowe's climbed 3.9%, Home Depot rose 3.8%, Lennar gained 6.8% and PulteGroup added 4.1%. <br />
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The better-than-expected readings on retail sales and pending-home sales helped extend Wednesday's rally on improvement in private-sector jobs. The Dow is up more about 3.1% over the two-day stretch, marking its biggest two-day gain since July. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: large;">MID-DAY:</span><br />
In early trading, U.S. stocks extended gains in choppy trading Thursday after pending home sales unexpectedly soared and investors mulled whether European officials can help stop the spread of the euro zone's debt crisis. <br />
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The Dow Jones Industrial Average rose 85 points, or 0.8%, to 11341. Home Depot led the blue-chip index's gains, rising 3.2%, while Microsoft jumped 2.7%. Financials were among the market's biggest gainers as Bank of America shares gained 2.8% and J.P. Morgan Chase added 2.5%. <br />
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The Standard & Poor's 500-share index gained 0.8% to 1215. The technology-oriented Nasdaq Composite rose 0.7% to 2566. <br />
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Stocks extended morning gains after the National Association of Realtors' pending home sales index unexpectedly soared 10.4% to 89.3. Economists surveyed by Dow Jones Newswires had expected pending home sales would drop 1.5%. However, the index remains down 21% from a year ago, when buyers were racing to claim a tax credit. <br />
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Investors also kept a close eye on the latest developments in Europe. The European Central Bank will continue to offer special longer-term liquidity tenders in 2011, according to ECB President Jean-Claude Trichet. The extra liquidity measures were due to be phased out early next year, so the new decision should offer some relief to the euro zone's troubled debt markets.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">COMMODITIES ON THE MOVE</span></div><i><b>Dow Jones-UBS Commodity Index 151.548 up 0.825 or +0.55% </b></i><br />
Cotton and cocoa led an advance in commodities. March soft red winter wheat futures prices on the Chicago Board of Trade on Thursday hit a fresh three-week high of $7.67 1/2 a bushel. <br />
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Prices have pushed sharply higher the past two days amid weather concerns in U.S. and Australian wheat regions. The wheat market bulls have quickly gained fresh upside near-term technical momentum as prices have tacked on around 75 cents a bushel from this week's low of $6.85 1/2. <br />
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The next upside technical price objective for the rejuvenated wheat market bulls is to produce a close in March Chicago futures above strong chart and psychological resistance at the November high of $8.00 a bushel. Above that lies technical resistance at the contract and two-year high of $8.64 1/4, scored in August. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">THE OPENING BELL</span><br />
U.S. stocks opened slightly higher on Thursday as investors mulled over whether European officials can help stop the spread of the euro-zone sovereign debt crisis. <br />
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The Dow Jones Industrial Average rose 45 points, or 0.4%, to 11301. Alcoa led the blue-chip index's gains, rising 2%, while Microsoft gained 1.5% and JPMorgan rose 1.2%. The Standard & Poor's 500-share index gained 0.4% to 1211, led by the financial and materials sectors. The technology-oriented Nasdaq Composite rose 0.4% to 2559. <br />
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Thursday morning starts with overnight futures moving up in the US Market. U.S. stock index futures are pointing to a higher open on Wall Street Thursday, with futures for the S&P 500 up 0.46 percent, Dow Jones futures up 0.47 percent and Nasdaq 100 futures up 0.51 percent at 1000 GMT. <br />
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Economic data on tap for Thursday includes weekly initial jobless claims, pending home sales for October, and retail chain store sales for November.<br />
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Companies expected to report quarterly results include Novell Inc (NasdaqGS:NOVL), The Kroger Co (NYSE:KR), Toll Brothers (NYSE:TOL) and Del Monte Foods (NYSE:DLM).<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Pending Home Sales Rise </span><br />
The number of U.S. consumers who agreed to purchase homes unexpectedly shot up in October but remained below a healthy level. The National Association of Realtors' index for pending sales of existing homes increased 10.4% to 89.3, the industry group said Thursday. <br />
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However, the pending sales index was 20.5% below its level of 112.4 in October 2009, when buyers were racing to claim a tax credit. <br />
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Economists surveyed by Dow Jones Newswires had expected pending home sales would drop 1.5% in October. Falling prices have made houses more affordable. But Lawrence Yun, NAR's chief economist, said improvement in the market is needed. <br />
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"It is welcoming to see a solid double-digit percentage gain, but activity needs to improve further to reach healthy, sustainable levels," Yun said. He warned against any push to scale back the tax deduction on mortgage interest payments, citing a survey showing about 75% of homeowners consider that tax break to be very important. <br />
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This week, the Federal Reserve, in its periodic beige book survey, reported some improvement in the overall economy during the autumn, but said the housing market remained depressed. <br />
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Home prices are falling, which, along with a weak economy, hurts demand. Home prices nationally were down 2% in the third quarter compared with the second quarter, according to the S&P Case-Shiller national price index released this week.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US Retailers' November Sales Rise 6%</span></div><i><b>Beating 3.6% Expectation </b></i><br />
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U.S. retailers reported November same-store sales rose 6%, exceeding analysts' estimates as consumers are showing signs of coming out of their shells. The strong November results add to recent data showing the start of the holiday-buying season has been a success. <br />
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Target said same-store sales rose 5.5%, which was stronger than analysts expected. The retail giant sees December same-store stoles rising in the low-to-mid single digits. Shares edged 0.1% lower. <br />
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Macy's raised its fourth-quarter sales and earnings guidance as it said same-store sales jumped 6.1% last month. Shares rose 0.2%. <br />
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Costco Wholesale reported a 9% increase in comparable sales for the four-week period ending Nov. 28. Shares edged up 0.3%. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">436,000 MORE AMERICAN'S LOST THEIR JOBS</span><br />
<i><b>US Jobless Claims Increased 26000 Last Week to 436000 </b></i><br />
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Applications to begin receiving unemployment benefits in the US rose more than forecast last week, indicating the labor market will take time to improve. More Americans applied for unemployment benefits last week, but the broader trend in layoffs points to a slowly healing job market.<br />
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The Labor Department says new claims for unemployment aid rose last week by a seasonally adjusted 26,000 to 436,000. The previous week's claims were revised up slightly to show applications had tumbled by 31,000 to 410,000. The figures are often volatile during the weeks around the Veteran's Day and Thanksgiving holidays.<br />
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Overall, 8.9 million people are receiving jobless aid, including 4.9 million that are doing so through the federally funded extended benefit programs. Those provide up to 99 weeks of benefits.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TWO CHINA FIRMS SCRAP US IPO'S </span><br />
<i><b>China's MIE, China Time Share Yank US IPO Plans Thursday </b></i><br />
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Two Chinese companies on Thursday scrapped their plans for initial public offerings, one of them citing adverse market conditions, further illustrating problems Chinese firms have had in trying to go public in the U.S. <br />
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Chinese oil company MIE Holdings Corp., which originally filed plans in April to sell up to an estimated $287.5 million of equity, said Thursday it withdrew its plans to go public in the U.S. because "market conditions in the United States do not at this time support a public offering." <br />
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The company had postponed its offering in May after slashing estimated terms, and in recent days has made an effort to raise some $185 million through an IPO in Hong Kong. MIE works in oil fields in the onshore Sonliao Basin under production contracts with PetroChina Co. (PRT, 601857.SH, 0857.HK), the biggest of the country's three national oil companies. <br />
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Advertising service provider China Time Share Media Co. pulled its own IPO plans, though it didn't give a reason. The company originally filed in September 2008 -- just a week before the bankruptcy of Lehman Brothers -- to sell up to an estimated $75 million of equity.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US DOMESTIC JOB BILL = JOBLESS BENEFITS </span><br />
<i><b>Not Extending Jobless Benefits To Cost Jobs </b></i><br />
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<i>House OKs extension of tax cuts for some Americans - The measure would extend tax cuts for those who make less than $250000 a year.</i><br />
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President Barack Obama's economic council had a warning for Congress Thursday: Not extending unemployment benefits that expired Wednesday would increase unemployment and cripple millions of Americans just as the country heads into the holiday season. <br />
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Not extending jobless benefits would result in two million people losing coverage in December alone and could cost 600,000 jobs over the next year because of a drop in consumption, according to a report released Thursday by Obama's Council of Economic Advisers. <br />
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Austan Goolsbee, who chairs the council, said that not extending jobless benefits would be "fairly damaging on our nascent recovery." <br />
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Jobless benefits, which generally come in the form of weekly checks of several hundred dollars, are used as a safety net during shaky economic times. Goolsbee said that not extending them now, when the unemployment rate is "extremely high," would be unprecedented. <br />
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Republicans in Congress have said they want any extension, which would cost billions of dollars, to be paid for in other areas of the budget. Goolsbee said moving money from one area of the budget would limit the impact of getting money in the hands of the unemployed. <br />
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<u><b>About 14 million people have been helped by jobless benefits as of October 2010 </b></u><br />
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The administration's warning comes on the backdrop of a week dominated by concerns over taxes and the country's deficit. Obama this week assigned White House budget director Jacob Lew and Treasury Secretary Timothy Geithner to work with congressional leaders to settle a dispute over tax cuts enacted under former President George W. Bush. The cuts are set to expire at year's end. <br />
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Republicans, and some Democrats, want those tax cuts extended across the board. Obama has insisted the country can't afford extending them for anyone but the middle class. Geithner and Lew have met with a small group of congressional leaders from both parties to settle the dispute. While it isn't clear what common ground they can find, reports suggest a compromise might include extending unemployment benefits.<br />
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<b>Wednesday</b> volatile and choppy trading ended with the Dow rallying 249 points today to 11255, the S&P added 25 points to 1206, and the Nasdaq surged 51 points to 2549.<br />
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The U.S. Dow Jones Industrial average jumped more than 260 points by noon Wednesday as the market stepped into December with strong gains, as robust U.S. jobs figures and manufacturing data from China, the U.K. and India helped investors look past concerns in Europe. <br />
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Reuters reported the U.S. would commit more money to the International Monetary Fund to help with a broader stabilization package for Europe. After that report, the Euro surged and the US Dollar retreated further on news that the US is prepared to support an extension of the European Financial Stability Facility through extra funding via the International Monetary Fund. Even though that news story was later declined by an official, the dollar remained lower on the day.<br />
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U.S. investors are also keeping a close eye on Congress and the Federal Reserve, which reported its beige book of economic activity at 2:00 p.m. EST <br />
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The Dow gained more than 200 points in early trading. Commodity prices gained, while the dollar declined. The U.S. Dollar Index, which tracks the performance of the greenback against a basket of six other currencies, dropped 0.5%. Treasurys also fell, sending the yield on the benchmark 10-year note higher to 2.936%.<br />
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The Dow Jones Industrial Average gained 193 points, or 1.8%, to 11198 in morning trading, while the Standard & Poor's 500-stock index gained 20 points to just over the 1200 level and the Nasdaq Composite added 48 points to 2546. <br />
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The advances were broad and deep, with all 30 of the Dow's component stocks and all 10 of the S&P 500's ten sectors in positive territory. The Nasdaq's move, meantime, is on track for its biggest one-day gain in nearly two months. <br />
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Kicking off the good news Wednesday was data showing the U.S. added 93,000 private-sector jobs in November--the 10th consecutive month of gains and the largest one-month gain in three years. The survey's compilers said the report showed "an acceleration of employment and suggests the nation's employment situation is brightening somewhat."<br />
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The U.S. Labor Department showed productivity rising more than previously thought in the third quarter, as companies boosted output while also holding down labor costs. U.S. spending on construction projects also unexpectedly rose by 0.7% in October, for a second straight gain.<br />
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At the open, the Dow Jones Industrial Average gained 179 points, or 1.6%, to 11184 in early trading, while the Standard & Poor's 500-stock index gained 19 points to 1199 and the Nasdaq Composite added 47 points to 2545. <br />
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U.S. stock futures point to strong gains on a declining dollar and positive global economic reports, as good news in the U.S. and robust manufacturing data from China to the U.K. cheer investors and offset worries about the euro-zone debt crisis.<br />
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US stocks looked set to jump into December with strong gains, as robust jobless numbers in the US. The Dow Jones Industrial Average futures gained 128 points to 11124 recently, while Standard & Poor's 500 futures gained 15 points to 1194 and Nasdaq 100 futures added 25 points to 2142. Prior to the data, Dow futures had been up 121 points, while S&P 500 futures gained 14 points and Nasdaq futures added 22 points. Changes in stock futures do not always accurately predict early stock moves after the open.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">SEC TO VOTE ON FRIDAY </span><br />
<b>Commodity Futures Trading Commission Votes 3-2 To Propose Key Swap Definitions</b> <br />
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Federal regulators proposed rules Wednesday that provide clarity on which companies will be subject to new derivatives regulations and which may qualify for exemptions from the potentially costly new rules. <br />
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The proposal by the Commodity Futures Trading Commission is the latest to be issued for public comment as the CFTC works to implement provisions of the Dodd-Frank financial-overhaul law. The plan fills in key details in the definitions of "swap dealer" and "major swap participant"--two kinds of firms targeted by many of the derivatives provisions in Dodd-Frank. <br />
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The CFTC proposed the rule in a 3-2 vote, but the rule still must be considered by the Securities and Exchange Commission before it can be issued for public comment. The SEC is slated to vote on the measure Friday. A second vote by both agencies, which share oversight of the over-the-counter derivatives market, is needed to implement the definitions. <br />
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The financial industry and corporations across the U.S. have all been anxiously awaiting the definitions, and lobbyists in the room at the CFTC Wednesday took vigorous notes as the definitions were explained to commissioners by the staff. <br />
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The law requires swap dealers such as banks and major swap traders who may pose risks to the marketplace to execute standard swaps on trading platforms and route them through clearinghouses, which guarantee trades. It also imposes numerous other requirements, including capital, margin, reporting, record-keeping and business conduct standards. How the definitions of these firms are crafted will determine which companies will face these regulations and which may be exempt. <br />
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Companies have been lobbying the CFTC on the issue for months, and more than 80 comment letters were submitted to the agency even before the definitions were unveiled.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FED BOOK REPORT </span><br />
<i><b>Fed Beige Book: US Economic Growth Continues To Improve</b></i><br />
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The U.S. economy showed some improvement in October and November, the Federal Reserve said in a report released Wednesday. <br />
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In its latest beige book, the U.S. central bank said reports from its 12 regional Fed banks suggest the economy "continued to improve, on balance." <br />
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The positive tone of the report, covering the period from mid-October to mid-November, was based largely on the continued expansion in manufacturing in nearly all districts and mostly solid consumer spending. Despite the improvement in retail and tourism spending, the report noted that many consumers remain sensitive to prices and focused on buying necessities. <br />
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"Expectations for the holiday shopping season were generally positive, with several districts expecting higher sales when compared to year-ago levels," the Fed said. <br />
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The report follows a decision by the Fed last month to buy up another $600 billion in Treasurys to counteract a worsening economic outlook. Fed officials lowered their economic forecast for 2011 during the Nov. 2-3 policy-setting meeting, projecting growth of 3% to 3.6%. <br />
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Fed Chairman Ben Bernanke warned Tuesday that the economy isn't growing fast enough to "materially reduce" the unemployment rate, which stands at 9.6%. <br />
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Fed Vice Chairwoman Janet Yellen urged Congress on Wednesday to pursue "pro-growth policies" in the near term to complement the Fed's Treasury-buying program, which she said is no "panacea." <br />
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The beige book indicated some divergence across regions. Economic activity in the Fed districts of Boston, Cleveland, Atlanta, Dallas and San Francisco expanded at a "slight to modest pace." <br />
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New York, Richmond, Chicago, Minneapolis, and Kansas City registered "somewhat stronger" growth, while Philadelphia and St. Louis reported "mixed" business conditions. <br />
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Amid concerns that inflation remains uncomfortably low, the report found that price and wage pressures remain tame. Prices for final goods and services were "fairly flat" despite the rising cost of inputs such as agricultural commodities, metals and fuel. <br />
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While hiring showed some improvement in most districts, wage pressures were contained as well. <br />
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"Employers are waiting for clearer signals of expanding business prospects before adding significantly to payrolls," the report said. <br />
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Housing markets remained "depressed," meanwhile, with renewed weakening reported in several districts. <br />
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Banking conditions were stable, with steady or improving lending activity in nearly all districts. The Fed's Atlanta district reported constrained credit conditions and weak loan demand. <br />
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The central bank compiles the beige book eight times a year from anecdotal information collected by the dozen regional Fed banks scattered around the country. The report--based on interviews with businesses, economists and market experts--helps inform Fed officials as they decide the future course of monetary policy. <br />
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The latest report, prepared by the Cleveland Fed, is based on information collected on or before Nov. 19 and is prepared for use at the central bank's next policy-setting meeting Dec. 14.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">REVISED U.S. DEFICIT PLAN </span><br />
<i><b><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Realistic Plan Presented to Reluctant Commission</span></b></i><br />
<i><b>In final report, federal debt commission warns of fiscal 'reckoning</b></i><br />
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Six members of the US deficit commission have endorsed its final plan. The bipartisan panel's recommendations include a cap on discretionary spending, Social Security reforms and an overhaul of the tax code.<br />
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A 59-page proposal from the co-chairmen of the White House's deficit-reduction commission, which they labeled "The Moment of Truth," calls for sweeping changes in how the country spends money and collects taxes, the starting point for a long debate about how to tackle the U.S. debt. <br />
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Democrat Erskine Bowles and Republican Alan Simpson, who head the National Commission on Fiscal Responsibility and Reform, proposed in their final report changes that would affect almost everyone, from wage earners to people who put gasoline in their cars or hope one day to collect Social Security, Medicare, or Medicaid. It would cut 200,000 federal-government jobs by 2020, roughly 10% of the work force, and trim defense spending.<br />
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The proposals are likely to trigger widespread resistance from the interest groups that would be directly affected, such as seniors and home builders, but the panel's co-chairmen said the tough decisions must be made to put the country on a more fiscally sustainable path.<br />
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"Throughout our nation's history, Americans have found the courage to do right by our children's future. Deep down, every American knows we face a moment of truth once again," the co-chairmen's report said. "We cannot play games or put off hard choices any longer. Without regard to party, we have a patriotic duty to keep the promise of America to give our children and grandchildren a better life."<br />
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The proposal would achieve nearly $4 trillion in deficit reduction through 2020, reduce the deficit to 2.3% of gross domestic product by 2015, overhaul the tax code, cap government revenue at 21% of GDP and reduce debt to 40% of GDP by 2035, the co-chairmen said.<br />
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The 18-member commission is set to discuss the proposal Wednesday morning and plans to hold a vote on it Friday. The chairmen are expected to come up short of the 14 votes needed to issue a formal recommendation to Congress and the White House, but the proposal is nevertheless expected to frame the debate in the next year over which budget changes are necessary to cut into the country's growing debt.<br />
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"Throughout our nation's history, Americans have found the courage to do right by our children's future. Deep down, every American knows we face a moment of truth once again," the co-chairmen's report said. "We cannot play games or put off hard choices any longer. Without regard to party, we have a patriotic duty to keep the promise of America to give our children and grandchildren a better life."<br />
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The proposal would achieve nearly $4 trillion in deficit reduction through 2020, reduce the deficit to 2.3% of gross domestic product by 2015, overhaul the tax code, cap government revenue at 21% of GDP and reduce debt to 40% of GDP by 2035, the co-chairmen said.<br />
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The 18-member commission is set to discuss the proposal Wednesday morning and plans to hold a vote on it Friday. The chairmen are expected to come up short of the 14 votes needed to issue a formal recommendation to Congress and the White House, but the proposal is nevertheless expected to frame the debate in the next year over which budget changes are necessary to cut into the country's growing debt.<br />
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The new proposal would offer a 12% nonrefundable tax credit to all taxpayers and cap the mortgage-interest deduction to loans less than $500,000, with homeowners receiving no credit from mortgages on a second home.<br />
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Capital gains and dividends would be taxed at normal income rates. They would also limit the ability of people to deduct their health-insurance payments pretax.<br />
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To offset taking away or limiting tax expenditures, the co-chairmen proposed several scenarios for lower income-tax rates, which the group is expected to discuss at the meeting on Wednesday.<br />
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The co-chairmen also take aim at Social Security, Medicaid and Medicare costs. For Social Security, they recommend raising the normal retirement age to 68 by 2050 and 69 by 2075. They recommend creating a hardship exemption for people who can't work beyond 62 and other exemptions for low-income earners. For Medicaid and Medicare, the co-chairmen recommend cuts across both programs that they say would save billions of dollars and contain the long-term costs of these programs.<br />
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The chairmen met with Vice President Joe Biden Tuesday and discussed their recommendations. White House spokesman Amy Brundage said President Barack Obama supported the plan to delay a vote until Friday.<br />
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<i>Read the entire report at the Wall Street Journal:</i><br />
<a href="http://online.wsj.com/article/SB10001424052748704594804575648503541856136.html">http://online.wsj.com/article/SB10001424052748704594804575648503541856136.html</a> <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US BACKING EUROPEAN STABILITY MEASURES </span><br />
<i><b>Is The US Prepared To Support Larger European Stability?</b></i><br />
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<span style="font-size: large;">White House Closely Monitoring European Debt Crisis</span></div><div style="font-family: Arial,Helvetica,sans-serif;">President Barack Obama and his economic team are closely monitoring the European debt crisis, White House Press Secretary Robert Gibbs said Wednesday. <br />
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Gibbs referred questions to the Treasury Department about whether the U.S. would commit more money to the International Monetary Fund to help with a broader stabilization package for Europe. Gibbs said the administration believes the debt concerns in several European countries needs to be addressed. <br />
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Gibbs said National Economic Council Director Larry Summers and Treasury Secretary Timothy Geithner briefed Obama and a group of bipartisan Congressional leaders Tuesday about the potential of the European debt crisis to impact the U.S. <br />
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Reuters News Service reported that the U.S. is prepared to support the extension of the European Financial Stability Facility with an extra commitment of money from the International Monetary Fund, a U.S. official told Reuters on Wednesday. However, the U.S. isn't discussing a larger International Monetary Fund contribution to the European rescue package, another U.S. official told the Wall Street Journal. <br />
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"There are a lot of people talking about that. I think the European Commission has talked about that," the U.S. official said, referring to enlarging the European stability fund. "It is up to the Europeans. We will certainly support using the IMF in these circumstances." <br />
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"There are obviously some severe market problems," the official said, according to Reuters. "In May, it was Greece. This is Ireland and Portugal. If there is contagion that's a huge problem for the global economy."<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UN WARNS OF DOUBLE-DIP RECESSION</span><br />
The United Nations says world growth in the next two years will not be enough to recover jobs lost in the financial crisis, adding key countries could be heading for a double-dip recession. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">GENERAL MOTORS SEES GAINS</span></div>Passenger Car Deliveries Increased 17 % During November<br />
<i><b>Total Sales 168,704, Up 20.8%</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
General Motors reported that they will hire 1,000 engineers in Michigan to help expand the automakers’ lineup of electric-drive vehicles, the maker of the Chevrolet Volt gasoline-electric car said yesterday. GM plans to sell 10,000 Volts next year and 45,000 in 2012. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">FORD MOTOR COMPANY GAINED</span></div><i><b>Ford Motor Sees a 24% Rise With November Sales Numbers.</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">Ford Motor Sees One Of Our Best Years Ever, as Ford 4Q production plan of 590,000 vehicles remains unchanged. Ford said they see signs of demand for new vehicles Increasing, and plans to build 635,000 vehicles in the 1st Quarter of 2011.<br />
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Ford To Complete Rear Camera Roll-Out On Nearly All Models by End of 2011 <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHRYSLER SALES EDGES UP</span> <br />
<i><b>Chrysler's Sales Increase 17%.</b></i><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">PORSCHE RACES AHEAD</span></div><i><b>Porsche Cars of North America Reports November Sales Up Nearly 50 %</b></i><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BMW US SALES CLIMB 27%</span><br />
<i><b>US November Total Car Sales +27% At 22,883 Units, US Nov BMW Brand Sales +30% At 20,297 Vehicles </b></i><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NEW FACTORY ORDERS FALL</span> <br />
<i><b>November Factory PMI Declines</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">The U.S. manufacturing sector slowed a bit in November, but remained in expansion mode, according to data released Wednesday by the Institute for Supply Management. <br />
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The ISM's manufacturing purchasing managers' index slipped to 56.6 in November from 56.9 in October.<span style="font-family: Arial,Helvetica,sans-serif;">The ISM's new orders index fell to 56.6 from 58.9, while the production index fell to 55.0 from 62.7. </span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Factory employment slowed, but remained expansionary last month. The index eased to 57.5 from 57.7 in October. The positive employment index supports Wednesday's news from ADP that factory jobs increased 16,000 in November. </span><span style="font-family: Arial,Helvetica,sans-serif;">The inventory index rose to 56.7 from 53.9. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Price pressures remained at worrisome levels. The prices index in November slipped to 69.5 from 71.0. </span><span style="font-family: Arial,Helvetica,sans-serif;">Factory surveys done by regional Federal Reserve banks generally showed a pickup in manufacturing activity and jobs last month. The national ISM report supports the view that the U.S. factory sector is reviving in the fourth quarter.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US COMPANIES ADDED 93,000 JOBS</span><br />
<i><b>Companies in US Added 93000 Jobs in November</b></i><br />
Companies in the U.S. boosted payrolls more than forecast in November, propelled by increased hiring at small businesses, data from a private report showed today.<br />
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Employment increased by 93,000, the most since November 2007, after a revised 82,000 rise in October that was almost double the initial estimate, according to figures from ADP Employer Services. The median projection of 40 economists surveyed by Bloomberg News called for a 70,000 gain last month. Small firms added more workers than at any time since the recession began in December 2007.<br />
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A pickup in job growth would help generate more incomes and spur consumer spending, which accounts for about 70 percent of the economy. A Labor Department report in two days will show companies added 155,000 workers last month and the unemployment rate held at 9.6 percent, according to the survey median.<br />
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<a href="http://www.bloomberg.com/news/2010-12-01/companies-in-u-s-added-93-000-jobs-in-november-adp-says.html">http://www.bloomberg.com/news/2010-12-01/companies-in-u-s-added-93-000-jobs-in-november-adp-says.html</a><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US PRODUCTIVITY ROSE</span><br />
<i><b>Productivity in US Rises More Than Previously Estimated</b></i><br />
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The productivity of U.S. workers rebounded more in the third quarter than previously estimated, showing companies were focused on controlling costs. The U.S. Labor Department showed productivity rising more than previously thought in the third quarter, as companies boosted output while also holding down labor costs. U.S. spending on construction projects also unexpectedly rose by 0.7% in October, for a second straight gain. Manufacturing numbers largely fell in line with expectations. <br />
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The measure of employee output per hour rose at a 2.3 percent annual rate, compared with the 1.9 percent initially calculated and a 1.8 percent drop in the previous three months, revised figures from the Labor Department showed today in Washington. Labor expenses fell.<br />
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Gains in payrolls and the workweek so far this quarter indicate companies are coming up against limits on how much more efficiency they can wring from current staff to meet rising sales. General Motors Co. is among businesses planning to boost employment in a bid to take advantage of a growing market. <br />
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Labor costs, adjusted for efficiency gains, fell at a 0.1 percent pace, the same as previously estimated, the Labor Department report showed.Corporate profits rose 2.8 percent from the previous three months and have been up every quarter since the first three months of 2009, the GDP report showed. Wages and salaries jumped by $97.4 billion at an annual pace in the second quarter and $51.4 billion from July through September. Hours worked climbed 1.7 percent from a year earlier, the biggest gain since 2006, today’s report showed. Among manufacturers, productivity rose at a 0.6 percent annual pace after rising 5.6 percent in the second three months of the year.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">LOWER U.S. INVESTOR SENTIMENT </span><br />
<i><b>Investors' Intelligence Poll: Bullish Sentiment Lower</b></i><br />
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The bullish sentiment fell among financial advisers surveyed in the weekly Investors' Intelligence poll from last Friday. The percentage of financial advisers who are bullish on the market fell to 55.4% from 55.7%, while bearish sentiment rose to 21.8% from 21.6%. <br />
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The percentage of financial advisers expecting a market correction fell/rose to 22.8% from 22.7%. In the week ended Tuesday, 57.70% of stocks listed on the New York Stock Exchange were above their 10-week moving averages. Also, 69.53% of NYSE stocks were above their 30-week averages.<br />
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<b>TUESDAY:</b> U.S. Stocks declined Tuesday in choppy trading. The volatility Index VIX rose 9.4% to 23.54. Equities closed down fot the day. The Dow dropped 46 pts today to 11006, the S&P fell 7 pts to 1180, and the Nasdaq shed 26 pts to 2498. <br />
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At 1:20 p.m. EST the Dow turned up into positive territory with 11059, up 6.75 as the dollar declined off resistance. U.S. stocks are modestly lower as investors overcome continued worries over the European sovereign-debt, the dollar's rise and encouraging data on U.S. manufacturing and consumer confidence. Tech shares are weaker in afternoon trading. <br />
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U.S. stocks trimmed their losses Tuesday as the dollar relaxed its gain at a key resistance point and U.S. economic data cushioned an early morning declined at the market open. Gold was given a boost due to China's approval to invest in foreign gold funds. <br />
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The Dow Jones Industrial Average fell 56 points, or 0.5% to 10997 in recent trading. Financial components led the measure's decline. J.P. Morgan Chase fell 1.3%, while American Express slid 1.3%. Energy companies were also weak as crude-oil prices dropped. Chevron fell 0.7%, while Exxon Mobil lost 0.5%. <br />
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The Nasdaq Composite shed 0.9% to 2502. The Standard & Poor's 500-share index fell 0.6% to 1180, weighed by its technology and energy sectors.Shares of Google Inc. (GOOG) slipped down more than 4.3% at $556.87 Tuesday on reports that the online search giant is offering to buy Groupon--a localized Web site geared toward discount shoppers--in a deal worth almost $6 billion. Google offered $5.3 billion for Groupon. Groupon would be Google's largest acquisition by far at nearly twice the size of its $3.1 billion takeover of DoubleClick in 2007 and far more than the $1.65 billion it paid for YouTube the year before.<br />
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U.S. stocks pared an early decline after two key data points encouraged investors. The Chicago Purchasing Managers' Index was 62.5 in November, better than the 60.0 reading economists were expecting. The manufacturing report "reminded people that it's not all doom and gloom," said Bill Vaughn, portfolio manager at Evercore Wealth Management. "The manufacturing sector of the economy has been strong for a while." <br />
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Separately, the Conference Board's November reading of consumer confidence came in at 54.1, better than economists' forecast of 52.5. <br />
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The data helped shave off some of the market's earlier heavy losses as concerns built that European sovereign-debt crisis could widen .<br />
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The Dow Jones Industrial Average fell more than 100 points, or 0.9% to 10952 in early trading. Hewlett-Packard led the measure's decline, shedding 1.6%. Energy components were also weak as crude-oil prices slid. Chevron fell 1.3%, while Exxon Mobil lost 1%. <br />
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The Nasdaq Composite shed 1.1% to 2498. The Standard & Poor's 500-share index fell 0.9% to 1177, weighed by its energy and technology sectors.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. CONSUMER CONFIDENCE VERY WEAK - FEW JOBS MORE LAY-OFFS EVERY WEEK </span><br />
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<i><b>Weak Consumer Confidence Shows Slight Gain</b></i><br />
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A lack of consumer confidence continues to loom over the holiday season although buying intentions among higher-income Americans has perked up, according to an ABC News index. <br />
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Overall U.S. consumer sentiment remains deeply depressed, with the index reading -45 for the latest week on its scale of +100 to -100. The reading was -47 the prior week. The index level has been this bad for a holiday kickoff just three times: in 1991, 2008 and last year. <br />
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ABC said consumer sentiment is up among Americans with incomes over $100,000 a year and positive for this group for the first time since mid-October. <br />
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In contrast to the overall picture, 61% of higher-income adults call this a good time to buy things they want and need. Among all Americans, the buying climate was rated positive by just 27%. <br />
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ABC said that while this positive trend could help retailers, as those higher-income earners have more disposable income, Americans who are better off financially account for just 12% of the nation's population. <br />
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The index is based on a random survey of 1,000 respondents nationwide. It measures typical Americans' confidence in three areas: the national economy, their finances and their willingness to spend money, according to the report. The poll has a margin of error of plus or minus three percentage points. <br />
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The index is derived by subtracting the negative response to each index question from the positive response to that question. The three resulting numbers are added and divided by three.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">HOME PRICES CONTINUE TO FALL </span><br />
Home prices are falling faster in the nation's largest cities, and a record number of foreclosures are expected to push prices down further through next year. U.S. home-purchase prices slid 1.9% in the third quarter from the spring--dropping 7.4% at an annualized rate--as the sales slowdown and expiration of the federal home-buyer tax credit weighed on values, according to Freddie Mac (FMCC). They were down 3.1% from the third quarter of last year.<br />
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In the period, Freddie said home values fell in each of the nine census divisions except New England. The Mountain division had the biggest drop from the second quarter, 4.9%. <br />
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Home prices dropped from a month earlier, and the rate of decline shows signs of accelerating, according to the S&P Case-Shiller home-price indexes. Its 20-city index drops 0.7%; economists had been expecting that index to rise 1.0%. Prices also dip in the third quarter.<br />
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<b>Tuesday </b>morning futures point to a slightly lower volatile open in the U.S. Commodities are declining against the dollar's rise in early morning trading before the bell. At 9:00 am the Case-Shiller 20-city Index, Chicago PMI, and Consumer Confidence figures will be reported.<br />
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<b>Monday</b>, the Dow ended lower (-39.51) to close at 11,052, the Nasdaq closed down (-9.35) to 2525.21, and the S&P closed down a little at 1187.76 down (-1.64).<br />
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The consumer-discretionary and technology sectors suffered the biggest declines, but the financial, energy and materials sectors managed to end the day in the black following a late-day rebound. Technology components were among its worst performers, with Hewlett-Packard (HP) down 1.4% after Gartner Inc. cut its worldwide personal-computer shipments forecast for the year. International Business Machines (IBM) was off 0.7%. Amazon.com climbed 1.3% and hit an all-time high during the session as analysts predicted the online retailer would gain market share in the current holiday shopping season. Nordstrom dropped 2.4%, Best Buy shed 3% and Macy's lost 2.2%. <br />
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After paring back most of its earlier losses, the U.S. Indexes were edging up in choppy trading into positive territory just prior to the close. <br />
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The Dow was off more than 140 points by noon. Monday before the dollar relaxed to climb. The Volatility Index VIX rose to 23.24.The S&P 500 slid under its 50-day moving average in early trade on Monday. All sectors declined against the rising dollar. <br />
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U.S. stocks and commodities fell Monday at the open against a rising dollar in early trading. The Dow Jones Industrial Average dropped 86 points, or 0.7%, to 11005. The measure briefly dipped below the key 11000 level to 10,948.The Nasdaq Composite declined 0.7% to 2518. The Standard & Poor's 500 index dropped 0.7% to 1181 with its materials and health-care sectors leading a broad decline. <br />
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The dollar climbed to two-month highs against the yen and euro last Friday and passed that mar today. The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, climbed 0.7% in early trading. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CRUDE OIL:</span></div><b>U.S. Crude Oil: $89.43 per barrel</b><br />
<b>FRIDAY OIL FUTURES: Nymex Crude Settles Up $1.19 At $89.19/Bbl </b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">$89 A BARREL, $90 TARGET RANGE</span><br />
Light, sweet crude for January delivery recently traded $1.07, or 1.2%, higher at $89.07 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange recently traded 55 cents higher at $91.24 a barrel, after hitting its highest price since October 2008.<br />
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Crude futures moved higher Friday, as a weak report on U.S. employment failed to dash concerns that global oil supplies may be falling from their recent highs. <br />
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Light, sweet crude for January delivery recently traded 50 cents, or 0.6%, higher at $88.50 a barrel on the New York Mercantile Exchange, nearing fresh two-year highs. Brent crude on the ICE futures exchange recently traded 55 cents higher at $91.24 a barrel, after hitting its highest price since October 2008. <br />
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Front-month January reformulated gasoline blendstock, or RBOB, recently traded 1.15 cents lower at $2.3438 a gallon. January heating oil recently traded 2.11 cent higher at $2.4758 a gallon.<br />
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Friday morning,s light, sweet crude for January delivery recently traded 45 cents, or 0.5%, lower at $87.55 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 22 cents lower at $90.47 a barrel. <br />
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Front-month January reformulated gasoline blendstock, or RBOB, recently traded 1.33 cents lower at $2.3420 a gallon. January heating oil recently traded 0.51 cent lower at $2.4495 a gallon. <br />
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THURSDAY: OIL FUTURES: Crude Settles Up $1.25 At $88/Bbl<br />
<br />
Crude Settles At Two-Year High <br />
Crude futures settled at a two-year high Thursday, rising to $88 a barrel as economic data in the U.S. and actions in the euro zone to support debt markets lifted hopes for oil demand. <br />
<br />
Light, sweet crude for January delivery settled $1.25, or 1.4%, higher on the New York Mercantile Exchange. Brent crude on the ICE futures exchange topped $90 a barrel, a key psychological barrier, settling $1.82 higher at $90.69 a barrel.<br />
Gasoline futures also continued their rise Wednesday, hitting fresh six-month highs. Front-month January reformulated gasoline blend-stock, or RBOB, settled 5.49 cents higher at 2.3553 a gallon. January heating oil settled 4.90 cents higher at $2.4546 a gallon. <br />
<br />
<br />
In early Morning trading Thursday, light, sweet crude for January delivery recently traded 12 cents lower at $86.63 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 31 cents higher at $89.18 a barrel.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<i><b>WEDNESDAY: OIL FUTURES: Crude Settles Up $2.64 At $86.75/Bbl </b></i><br />
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DOE: US Crude Oil Stocks +1.066 Mln Bbl At 359.691 Mln Bbl<br />
US Gasoline Stocks +0.561M Bbl In Wk; Seen Unch<br />
US Refineries Ran At 82.6% Vs 85.5% Week Ago<br />
US Distillate Stocks -0.194 Mln Bbl At 158.057 Mln Bbl<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Wednesday Crude Holds Gains </span></div><div style="font-family: Times,"Times New Roman",serif;"><i><span style="font-size: x-large;">Despite Minor US Inventory Build</span></i></div>Crude futures held early gains Wednesday despite a government report showing a surprise increase in U.S. oil inventories, as investors instead focused on improving data for the broader U.S. economy. <br />
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Light, sweet crude for January delivery recently traded $1.60, or 1.9%, higher at $85.71 a barrel on the New York Mercantile Exchange, close to a high of $85.95 hit earlier in the session. Brent crude on the ICE futures exchange traded $1.77 higher at $87.69 a barrel. <br />
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U.S. oil inventories rose 1.1 million barrels last week, according to the U.S. Department of Energy's Energy Information Administration. The build surprised analysts who on average expected a 1.1 million barrel decrease. <br />
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Gasoline stockpiles rose 600,000 barrels compared to expectations for no change, while stocks of distillates, which include heating oil and gasoline, fell by 200,000 barrels. Analysts had expected a 1.1-million-barrel drop. Demand for oil and fuel products fell to the lowest level since mid-October.<br />
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Gasoline stockpiles posted a rise of 0.561 million barrels, to 210.2 million barrels, the department's Energy Information Administration said in its weekly report. <br />
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Distillate stocks, which include heating oil and diesel fuel, fell 0.194 million barrels to 158.1 million barrels, compared with analysts' forecast of a drop of 1.1 million barrels. <br />
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Refining capacity utilization fell 2.9 percentage points to 82.6%. Analysts had expected a 0.3 percentage point rise. <br />
<br />
TUESDAY OIL FUTURES: Nymex Crude Closes Down $1.58 At $84.15/Bbl<br />
MONDAY OIL FUTURES: Nymex Crude Settles Up $1.97 At $85.73/Bbl<br />
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Light, sweet crude for January delivery recently traded 63 cents, or 0.8%, higher at $84.39 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 60 cents higher at $86.18 a barrel. <br />
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Front-month December reformulated gasoline blend-stock, or RBOB, recently traded 3.44 cents higher at $2.2447 a gallon. December heating oil recently traded 2.24 cents higher at $2.3386 a gallon.<br />
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U.S. oil use in September rose 4.9% from a year earlier--the biggest gain since June 2004--government data released Monday show. <br />
<br />
Revised demand averaged 19.507 million barrels a day, up 259,000 barrels a day, or 1.3%, from the preliminary estimate, and 913,000 barrels a day from a year ago, data from the Energy Information Administration show. <br />
<br />
September marked the eighth straight monthly rise in year-on-year demand even as demand dropped by 0.9%, or 183,000 barrels a day, from a month earlier. <br />
<br />
Third-quarter demand averaged 19.492 million barrels a day, up 769,333 barrels a day, or 4.1%, from a year ago. That's the highest demand in any quarter in the world's biggest oil consumer since the second quarter of 2008. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NATURAL GAS:</span></div><b>Natural Gas: $ 4.30</b><br />
<b>FRIDAY: US GAS: Futures Settle Up 0.1% at $4.349/MMBtu</b><br />
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THURSDAY: US GAS: Futures Close Up 1.64% at $4.339/MMBtu <br />
<br />
<br />
<b>THURSDAY:</b> Natural gas futures lost earlier gains Thursday after the U.S. government reported a narrowly lower-than-expected withdrawal from domestic supplies. <br />
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Natural gas for January delivery recently traded up 4 cents, or 0.94% higher, at $4.309 a million British thermal units on the New York Mercantile Exchange. Futures had traded as high as $4.38/MMbtu in advance of the U.S. Energy Information Administration's weekly storage report, which was released at 10:30 a.m. EST. <br />
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The government agency reported that natural gas inventories fell by 23 billion cubic feet during the week ended Nov. 26, lower than the consensus estimate of 26 bcf.<i> </i><br />
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<br />
<b>Wednesday:</b><i> US GAS: Futures Settle Up 2.1% at $4.269/MMBtu</i> <br />
WEDNESDAY: Natural gas for January delivery recently traded 4.3 cents higher, or 1%, at $4.223 a million British thermal units on the New York Mercantile Exchange. <br />
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TUESDAY US GAS: Futures Settle Down 0.7% at $4.180/MMBtu...<b> </b><br />
MONDAY US GAS: Futures Close Down 4.2% at $4.214/MMBtu<br />
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Natural gas futures fell Tuesday as pressure from ample supplies outweighed expectations for increased gas-heating demand with colder-than-normal weather forecast for next week. <br />
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Natural gas for January delivery settled 3 cents lower, or 0.7%, at $4.180 a million British thermal units on the New York Mercantile Exchange, the second consecutive session of declines. The benchmark contract has traded between about $3.90/MMBtu and $4.40/MMBtu since late October. <br />
<br />
U.S. natural gas stockpiles as of Nov. 19 stood at 3.837 trillion cubic feet, 9.5% above the five-year average and just short of the previous week's record high of 3.843 tcf, the Energy Information Administration said Wednesday. <br />
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MONDAY: Natural gas futures extended their earlier losses Monday, plunging by more than 4% as traders cashed out of the market to profit from its recent advance. <br />
<br />
Natural gas for January delivery recently traded 18.1 cents lower, or 4.1%, at $4.218 a million British thermal units on the New York Mercantile Exchange, erasing much of the gains made last week amid forecasts for widespread cold during the first weeks of December. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">PRECIOUS METALS:</span></div><b>Gold: $ 1,414</b><br />
<b>Silver:$ 29.37</b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">GOLD BREAKS RECORD HIGH $1,406</span><br />
Friday's gold and silver prices moved up into record territory in early trading.<br />
China took major positions in gold traded funds worldwide and investors moved in to precious metals for safety. Spot gold is at $1,406 an ounce and Silver is now trading over $29.20 an ounce.<br />
<br />
The front-month contract, for December delivery, settled $16.90, or 1.2%, higher at $1,405.40 per troy ounce on the Comex division of the New York Mercantile Exchange. Gold last settled above $1,400 on Nov. 11. The December contract's $43 gain this week was the biggest since January. The most-actively traded contract, for February delivery, settled up 1.2% at $1,406.20 an ounce. <br />
<br />
At Mid-Day the most actively traded contract, for February delivery, was recently up 1.3%, or $18.20, at $1,407.50 per troy ounce on the Comex division of the New York Mercantile Exchange. Gold last traded above the $1,400 mark on Nov. 11.<br />
<br />
Engelhard Corp's base price for industrial gold bullion was $1406.54 per troy ounce, up $14.53 from previous. It's selling price for gold in fabricated form was $1512.03, up $15.62.</div><div style="font-family: Arial,Helvetica,sans-serif;">Handy & Harman's base price for gold was $1403.50 per troy ounce, up $14.50. The fabricated form price was $1515.78, up $15.66.<br />
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<br />
<br />
<b>THURSDAY'S</b> Comex gold futures held near steady Thursday as a stable dollar and little economic news left traders searching for direction ahead of Friday's U.S. employment report. <br />
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Gold prices flirted with the $1,400 mark Thursday but settled with modest gains as positive news from Europe boosted investor appetite for risk. The most actively traded contract, for February delivery, settled up 0.2%, or 41, at $1,389.30 per troy ounce on the Comex division of the New York Mercantile Exchange. Gold had reached an intra-day high of $1,399.70 Thursday, eclipsing Wednesday's high of $1398.30, but was again unable to sustain those levels throughout the day.<br />
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Platinum for January delivery, the most actively traded contract, settled up 1.7%, or $29.10, at $1,713.10 per troy ounce on the Nymex. <br />
<br />
Silver for March delivery, the most actively traded contract, settled up 0.6%, or 15.9 cents, at $28.572 per troy ounce on the Comex division of the Nymex.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Palladium futures hit a 9-year high, breaking through the psychologically important $750 per troy ounce mark as Wednesday's strong auto sales continued to support buying interest. Palladium for March delivery, the most actively traded contract, settled up 4.3%, or $28.85, at $763.70 per troy ounce on the Nymex. The precious metal was last trading at these price levels in April 2001.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<b>Settlements (Range includes Floor and Electronic Trading):</b></div><div style="font-family: Arial,Helvetica,sans-serif;">London PM Gold Fix: $1,389.00; previous PM $1,385.50<br />
Feb gold $1,389.30, up $1; Range $1,385.10-$1,399.70<br />
Mar silver $28.572, up 15.9 cents; Range $28.330-$29.080<br />
Jan platinum $1,713.10, up $29.10; Range $1,682.00-$1,729.90<br />
Mar palladium $763.70, up $31.40; Range $731.70-$773.90<br />
In morning trading, the most actively traded contract, for February delivery, was recently up $1.30, or 0.1%, at $1,389.60 per troy ounce on the Comex division of the New York Mercantile Exchange.<br />
<br />
Engelhard Corp's base price for industrial gold bullion was $1392.01 per troy ounce, up $3.50 from previous. It's selling price for gold in fabricated form was $1496.41, up $3.77.<br />
<br />
Handy & Harman's base price for gold was $1389.00 per troy ounce, up $3.50. The fabricated form price was $1500.12, up $3.78. <br />
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<br />
<b>WEDNESDAY</b>: The most actively traded futures contract, for February delivery, gained $2.20 to settle at $1,388.30 a troy ounce on the Comex division of the New york Mercantile Exchange. It hit $1,398.30 in electronic trading overnight, the contract's highest point since Nov. 12.<br />
<br />
Additional precious metals traded in New York also rose. Comex March silver added 0.7%. Nymex January platinum gained 1%, while March palladium on the exchange rose 4.2%. Palladium trades in a less liquid market than gold, often exacerbating volatility.<br />
<br />
<b>Settlements (Range includes Floor and Electronic Trading):</b><br />
<br />
London PM Gold Fix: $1,385.50; previous PM $1,383.50<br />
Feb gold $1,388.30, up $2.20; Range $1,383.00-$1,398.30<br />
Mar silver $28.413, up 20.1 cents; Range $28.020-$28.880<br />
Jan platinum $1,684.00, up $17.60; Range $1,658.40-$1,692.30<br />
Mar palladium $732.30, up $29.30; Range $712.05-$738.00 <br />
<br />
<br />
<b>TUESDAY:</b> Gold was given a boost after China approved investment in foreign gold funds. <br />
The most-actively traded contract, for February delivery, gained $18.60, or 1.4%, to settle at $1,386.10 an ounce on the Comex division of the New York Mercantile Exchange.<br />
<br />
<b>Settlements (Range includes Floor and Electronic Trading):</b><br />
<br />
London PM Gold Fix: $1,383.50; previous PM $1357.00<br />
Feb gold $1,386.10, up $18.60; Range $1,360.00-$1,391.10<br />
Mar silver $28.212, up $1.019; Range $26.920-$28.390<br />
Jan platinum $1,666.40, up $21.80; Range $1,639.50-$1,668.50<br />
Mar palladium $703.00, up $8.15; Range $686.25-$707.00 <br />
<br />
Engelhard Corp's base price for industrial gold bullion was $1386.50 per troy ounce, up $26.54 from previous. It's selling price for gold in fabricated form was $1490.49, up $28.54.<br />
<br />
Handy & Harman's base price for gold was $1383.50 per troy ounce, up $26.50. The fabricated form price was $1494.18, up $28.62. <br />
<br />
<b>MONDAY:</b> Engelhard Corp's base price for industrial gold bullion was 1359.96 per troy ounce, down 1.13 from previous. It's selling price for gold in fabricated form was $1465.56, down 0.88.<br />
<br />
Handy & Harman's base price for gold was 1357 per troy ounce, down 1.13. The fabricated form price was 1465.56, down 1.13.<br />
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<span style="font-size: x-large;">U.S. TREASURYS/BONDS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>FRIDAY:</b> Demand for Treasurys rose, pushing yield on the 10-year note down to 2.98%. <br />
<br />
<b>THURSDAY</b>:Demand for Treasurys declined, pushing yield on the 10-year note up to 2.99%. <b><br />
</b><br />
<br />
<br />
<b>Wednesday</b> Treasurys declined, sending the yield on the benchmark 10-year note higher to 2.936%.The yield on the 10-year Treasury note, which moves inversely to price, rose to 2.91 percent from 2.80 percent late yesterday.<br />
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<b>Tuesday</b>, Treasurys were mixed, with declined in the two-year note lifted its yield to 0.52% while increased demand for the 10-year note pushed its yield down to 2.82%.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>FRIDAY, DECEMBER 3, 2010 4:30 PM EST</b><br />
<br />
3 Month 0.11% <span style="color: red;">-0.01 (-8.33%)</span><br />
6 Month 0.18% 0.00 (0.00%)<br />
2 Year 0.47% <span style="color: #274e13;">+0.02 (4.44%)</span><br />
5 Year 1.61% <span style="color: #274e13;">+0.09 (5.92%)</span><br />
10 Year 3.00% <span style="color: #274e13;">+0.10 (3.45%)</span><br />
30 Year 4.31% <span style="color: #274e13;">+0.09 (2.13%)</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Market:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Toronto Stocks Close Higher Friday</span><br />
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Materials and material suppliers were higher Friday as gold and silver broke record highs against a declining U.S. dollar. Most other sectors were marginally lower.<br />
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The S&P/TSX Composite Index rose 15.42 points, or 0.12%, to 13178.95, advances exceeded declines 887 to 740 and trading volume was 611.50 million shares, up from Thursday's total of 564.80 million shares. <br />
<br />
The S&P/TSX 60 Index closed down 0.97 points, or 0.13%, to 752.21. <br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CANADA JOBLESS RATE DECLINED</span><br />
Canada's economy created fewer than expected jobs last month but the jobless rate fell unexpectedly to the lowest level in almost two years, as fewer youth participated in the labor market.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Toronto Stocks Rise Thursday</span></div></div><div style="font-family: Arial,Helvetica,sans-serif;">The stock market was modestly higher Thursday, as strength in the materials and energy groups helped to offset weakness in financials after Toronto-Dominion Bank and Canadian Imperial Bank of Commerce both reported lower fourth-quarter results. Bombardier's 3Q earnings fall 15% to $143 million, or 8c a share, on lower revenue, missing analyst expectations, as a shaky global economic recovery keeps business and commercial aircraft orders suppressed.. <br />
<br />
At 11:45 a.m. EST, the S&P/TSX Composite Index was up 31.03 points, or 0.24%, at 13179.38 and advances led declines 760 to 688. Trading volume was 270.90 million shares. <br />
<br />
The S&P/TSX 60 Index was up 1.20 points, or 0.16%, to 754.13 points. At the open, Materials and Energies are leading the way today as the S&P/TSX Composite is rising at 11:00 am EST 13169.44.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">PRIME MINISTER URGES FORWARD MOVEMENT</span></div><i><b>Economic Growth Has Moderated "Significantly"</b></i><br />
Canadian Prime Minister Stephen Harper said Thursday economic growth has "moderated significantly" after expanding strongly in the early part of 2010. <br />
<br />
"This is a pattern in the global economy, so it does have us concerned," Harper said in televised remarks from Mississauga, Ont. <br />
<br />
But he said he's "cautiously optimistic going forward." "Our own read is that private domestic demand should be sufficient going forward to sustain the recovery that we do have," he said. <br />
<br />
Harper reiterated that the global recovery is fragile and there are "considerable risks" outside the country. He urged Europe and other countries to deal "strongly, quickly and aggressively" with their debt problems. Harper announced the deadline to complete infrastructure stimulus projects will be extended by seven months to October 2011. He said there was "no harm" in allowing more time to complete the projects and keep people employed for longer.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Toronto Stocks Up Wednesday</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;">.<span style="font-family: Arial,Helvetica,sans-serif;">Toronto stocks jumped up Wednesday the market open lead by energy and the financial sectors</span>.<span style="font-family: Arial,Helvetica,sans-serif;"> Toronto's main stock index gained almost 200 points with energy issues buoyed by strong manufacturing data from China and financials buoyed by yesterday's strong quarterly result and dividend hike from National Bank (NA.TO), which hit a new year high of $70.09.</span><br style="font-family: Arial,Helvetica,sans-serif;" /><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">Boosting the index too were the two most actively traded stocks, Eastern Platinum Limited (ELR.TO) and Baja Mining Corp. (BAJ.TO). </span><span style="font-family: Arial,Helvetica,sans-serif;">Eastern Platinum Ltd. (ELR.TO) gained almost 10% with more than 14 million shares traded. </span></span></span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canada Small Business Confidence Declines</span> </span><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">An index of Canadian small business confidence fell back in November after a rebound the prior month from four consecutive declines that took it to the highest level since May. </span><span style="font-family: Arial,Helvetica,sans-serif;">The Canadian Federation of Independent Business said Wednesday its Business Barometer Index fell to 64.0 points from 66.9 in October. </span><br style="font-family: Arial,Helvetica,sans-serif;" /><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">"This level of optimism equates to an economy that is growing, but at unspectacular rates," CFIB vice-president and chief economist Ted Mallett said in a report. </span><span style="font-family: Arial,Helvetica,sans-serif;">The index typically ranges between 65 and 75 when the economy is growing. </span><span style="font-family: Arial,Helvetica,sans-serif;">Still, Mallett said several indicators suggest the foundation for future growth is strengthening. He said new orders, inventory levels and capital investment plans for information technology and communications equipment are at their highest levels since the recession. </span><br style="font-family: Arial,Helvetica,sans-serif;" /><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">Although new orders and use of staff overtime are gradually trending up, neither is high enough to justify significant investments in employment, he said. Only 14% of business owners plan to hire more full-time staff in the next three months, which Mallett said was a low level even in recessionary conditions. Some 16% intend to cut back staff and 70% plan to keep staffing steady. </span><br style="font-family: Arial,Helvetica,sans-serif;" /><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">Wage and price pressures are light. On average, business owners expect to raise prices by an 1.3% over the next year, and hold wage growth at 1.5%. </span><br style="font-family: Arial,Helvetica,sans-serif;" /><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">Website: <a href="http://www.cfib.ca/">http://www.cfib.ca</a></span> </span></span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Toronto Stocks Up Tuesday</span><br />
Toronto stocks moved up Tuesday afternoon as the dollar eased and materials soared. According to preliminary data, the S&P/TSX Composite Index rose 57.23 points, or 0.44%, to 12952.88, advances outpaced declines 861 to 794 and trading volume was 636.0 million shares, up from Monday's total of 473.2 million shares.The S&P/TSX 60 Index closed up 2.69 points, or 0.36%, to 741.34.<br />
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Stocks were trading in mixed trading at Tuesday's open. Materials lead the indexes. Tuesday, the Canadian GDP report disappointed some investors, but the core growth figures are in line to show growth this year.<br />
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<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">GDP Report </span><br />
Website: <a href="http://www.statcan.gc.ca/">http://www.statcan.gc.ca </a><br />
<br />
Canada's economy decelerated faster than expected in the third quarter and lagged U.S. growth, dragged down by declines in housing investment and exports, a result that's likely to see the Bank of Canada keep interest rates steady again next week. <br />
<br />
Gross domestic product expanded an annualized 1.0% in July through September, slowing from an upwardly revised 2.3% in the second quarter - originally estimated at 2% - and a further mark down of first quarter growth to 5.6%, Statistics Canada said Tuesday. Growth in the quarter ended September was the slowest since a 0.9% gain a year ago and was well behind the 2.5% gain in the U.S. <br />
<br />
The market had expected GDP to grow 1.4%, while the Bank of Canada's Monetary Policy Report last month had forecast growth of 1.6%. On a quarterly basis, GDP slowed to 0.3% from 0.6% in April through June. <br />
<br />
The hand-off into the fourth quarter was weak, with monthly GDP unexpectedly falling 0.1% in September, the first decline since August 2009, as oil and gas extraction and manufacturing output shrank. The drop "implies weak momentum" going into the fourth quarter, said Paul Ferley, assistant chief economist at RBC Capital Markets in Toronto. The market had expected a 0.1% gain following a 0.3% expansion in August, which wasn't revised. <br />
<br />
The Canadian dollar fell after the data were published at 8:30 a.m. EST. The U.S. dollar was at C$1.0278, up from C$1.0234 just before the release and C$1.0186 at Monday's official close.<br />
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<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Toronto Stocks Higher </span></div><i><b>Monday, Toronto Stocks Close Mixed</b></i><br />
<br />
In late afternoon trading the energy and financial sectors lead the composite to a positive close. The S&P/TSX Composite Index rose 2.94 points, or 0.02%, to 12895.65, but declines exceeded advances 903 to 746 and trading volume was 473.20 million shares, up from Friday's total of 382.8 million shares. The S&P/TSX 60 Index closed up 0.52 points, or 0.07%, to 738.65.<br />
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<br />
The Canadian dollar ended higher Monday, outperforming most other major currencies as it benefited from strength in crude oil futures and its close ties with the U.S. dollar. <br />
<br />
The U.S. dollar was at C$1.0178 at 3:48 p.m. EST, from C$1.0207 at 8:00 a.m. EST (1300 GMT) and C$1.0201 late Friday. <br />
<br />
In early trading the S&P/TSX Composite Index was down 65.09 points, or 0.50%, at 12827.62 and declines led advances 858 to 548. Trading volume was 201.70 million shares. <br />
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The S&P/TSX 60 Index was down 4.20 points, or 0.57%, to 733.93 points. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">Reports This Week</span></div><br />
Economic reports expected this week include the Canadian gross domestic product report. The Toronto stock market will hear a slew of fourth-quarter earnings reports from Canada's biggest banks, which are expected to paint a healthier picture of Canada's financial institutions. Soft commodity prices will also have a negative effect on the TSX in next few weeks as news of European debt continues to dominate the headlines and traders take some profits after a run up in prices in the past few months.<br />
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Royal Bank of Canada (TSX:RY), Bank of Montreal (TSX:BMO) TD Canada Trust (TSX:TD),CIBC (TSX:CM) and Scotiabank (TSX:BNS) and National Bank of Canada (TSX:NA) are scheduled to report their fourth quarter earnings over the next two weeks.<br />
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TORONTO - The TSX Venture Exchange was trading at 2,057 up 7.99 points. The volume at closing was 343.6 million shares.<br />
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<b>Toronto Indexes, Friday CLOSING; 4:10 PM EST Composite Up 15.42</b><br />
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S&P/TSX Composite 13178.95 up 15.42 or 0.1%<br />
S&P/TSX 60 Index 752.21 off 0.97 or 0.1%<br />
Financials 180.84 off 1.51 or 0.8%<br />
Materials 441.87 up 6.92 or 1.6%<br />
Energy 307.24 up 0.60 or 0.2%<br />
Industrials 107.50 off 0.65 or 0.6%<br />
IT 30.45 off 0.14 or 0.5%<br />
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Volume Friday Thursday<br />
3-4:15 114.2M 99.8M<br />
9:30-4:15 611.5M 564.8M<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">South American Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-size: x-large;">BRAZIL: </span><br />
<i>Brazil's central bank rolled out a series of measures Friday to tame rapid credit growth, a move that follows similar efforts by China.</i><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BRAZIL'S STOCKS DECLINED FRIDAY </span><br />
Brazil’s major equity index slipped Friday, with banking stocks hit after the country’s central bank implemented credit-tightening measures as part of a larger bid to cool inflation.<br />
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Brazil’s Bovespa index (BVSP 69,766, +239.02, +0.34%) recently fell 2 points to 69,525, but pared a decline of as much as 0.8%. For the week, the index is up about 2%. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The rough ride earlier in the session stemmed from the central bank’s announcement that it will raise reserve requirements on term deposits to 20% from 15%, as well as raise additional requirements on demand deposits to 12% from 8%.<br />
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It’s also increasing capital requirements on consumer loans with maturity of more than 24 months to 16.5% of the loan from 11%, with the move aimed at reducing credit expansion to consumers. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Among banking stocks, shares of Itau Unibanco (ITUB 23.73, -0.05, -0.20%), the country’s largest private bank, fell 1.5% and rival Banco Bradesco (BBD 20.48, +0.09, +0.44%) lost 1.7%. Banco Santander Brasil(BSBR 13.32, -0.48, -3.48%) shares slumped 2.7%. Government-run Banco do Brasil shares fell 2.5%.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">In the foreign-exchange market, Brazil’s currency (USDBRL 1.6870, -0.0085, -0.5013%) rose against the dollar, trading at 1.684 reals compared with 1.703 reals on Thursday. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazil Stocks End Higher Thursday</span></div>Brazil's Bovespa stocks index ended higher Thursday as shares got some lift from favorable local data and encouraging signals from abroad. <br />
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The main Sao Paulo stocks index ended 0.3% higher at 69527 points, after ending at 69345 Wednesday. Volume was moderate, with 5.8 billion Brazilian reais ($3.4 billion) in shares changing hands. <br />
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The index began the session gaining after the euro zone posted third-quarter economic growth within market expectations. The region reported 1.9% growth versus the same quarter in 2009 and 0.4% growth from the second quarter of this year. <br />
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Traders said the signals helped bolster European markets and gave support to the global commodities sector, where Brazil is a key participant. <br />
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The trend was also supported during the session with continued growth in Brazil's industrial production, which rose by 0.4% in October from September and by 2.1% from October 2009, according to the country's IBGE statistics institute. <br />
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The materials sector shares were among the stronger advancers. <br />
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Steel maker Gerdau (GGB, GGBR4.BR) rose 3.6% to BRL21.24, and mining giant Vale (VALE, VALE5.BR) rose 0.6% to BRL49.50. In the banking sector, top private bank Banco Itau-Unibanco (ITUB, ITUB4.BR) was up 0.4% to BRL40.15, and rival Bradesco (BBD, BBDC4.BR) was 1.1% higher at BRL34.70. <br />
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Shares of state-controlled oil company Petrobras (PBR, PETR4.BR) rose 0.6% to BRL25.40, leading fixed-line telecom operator Oi (TNE, TNLP4.BR) was up 0.7% to BRL24.89, and leading airline Tam (TAMM4.BR) fell 0.2% to BRL42.25.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Close Lower Tuesday</span><br />
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Brazilian share prices closed lower Tuesday, after a rocky session, on renewed fiscal worries in Europe. Brazil's benchmark Ibovespa stocks index closed 0.30% lower at 67,705 points. Volume was moderate to heavy at 10.1 billion Brazilian reais ($5.87 billion). <br />
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Brazilian share prices spent most of the session in negative territory Tuesday on renewed worries about the fiscal health of a number of European countries, including Portugal and Spain. The fiscal worries led to losses on European stock exchanges Tuesday. <br />
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A brief, late-session rally led by Brazilian domestic funds fizzled as Wall Street prices declined. <br />
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Investors were also worried about a decline in the Brazilian government's primary budget surplus in October. <br />
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The October figures showed a decline in the surplus to the equivalent of 2.85% of gross domestic product from 2.96% in September. The figures put Brazil further behind its goal of a 2010 primary surplus equal to 3.1% of GDP. <br />
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Blue chips were mostly lower Tuesday. State oil company Petrobras (PBR, PETR4.BR) retreated 0.45% to close at BRL24.59 on lower international oil prices. <br />
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Mining major Vale SA (VALE, VALE5.BR) saw its shares fall 1.03% to BRL48.00.Telecom leader Tele Norte Leste Participacoes SA (TNE, TNLP4.BR), or Oi, declined 1.85% to BRL23.90. Steel maker Usiminas (USIM5.BR, USNZY) dropped 2.96% to close at BRL18.70. Aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), or Embraer, was a winner, rising 2.14% to BRL12.39. Minas Gerais utility Cemig (CMIG4.BR) gave up 0.11% to close at BRL28.50.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazil Stocks Close Lower Monday</span></div><br />
Brazil's benchmark Ibovespa stocks index closed 0.47% lower at 67,908 points, down from Friday's close at 68,226 points. Trading volume was moderate at 5.19 billion Brazilian reais ($3.02 billion).<br />
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Oil giant Petroleo Brasileiro SA (PBR, PETR4.BR), nonetheless, closed 0.57% higher at 24.74 Brazilian reais ($14.38), on higher oil prices. Miner Vale SA (VALE, VALE5.BR) rose 0.23% to BRL48.63. Steel maker Gerdau SA (GGBR4.BR) slipped 1.69% to BRL19.73. Food manufacturer BRF Foods (BRFS3.BR) rose 0.38% to BRL24.83. Utility Cemig (CMIG4.BR) shed 0.24% to BRL28.54. Airline TAM SA (TAMM4.BR) fell 0.97% to BRL41.89.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">BRAZIL'S SURPLUS GROWS</span></div><i><b>Brazil Central Government Oct Surplus BRL7.72B</b></i><br />
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With support from strong tax receipts and a resulting federal treasury surplus, Brazil's central government continued to increase its operating surplus in October, though at a slightly slower pace than last year, the government reported Monday. </div><div style="font-family: Arial,Helvetica,sans-serif;">The October result brought the country's central government budget surplus for the first 10 months of the year to BRL63.38 billion, or the equivalent of 2.19% of gross domestic product.<br />
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The central government, which includes the treasury, the publicly-administered social security system and the central bank, posted a 7.72 billion Brazilian real ($4.48 billion) primary budget surplus in October. <br />
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The October result, which came within market forecasts, was narrowed from a BRL26.02 billion surplus in September this year, and from a BRL11.23 billion surplus in October 2009. <br />
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The latest central government monthly surplus was composed of a federal treasury surplus of BRL10.01 billion, a social security administration deficit of BRL2.17 billion, and a central bank deficit of BRL117.3 million.<br />
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<span style="font-size: x-large;">CHILE:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Close Lower Friday</span><br />
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Chile's blue-chip IPSA index ended lower Friday, although it pared back much of its earlier losses, as it tracked then-slumping U.S. markets. <br />
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The IPSA ended 0.2% lower at 4970.02, while market volume fell to 71.4 billion Chilean pesos ($148.8 million), compared to CLP137 billion the prior session. <br />
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Since several of the IPSA's heavier-weighted shares also trade in New York, the IPSA often tracks the Dow Jones Industrial Average. As the Chilean market was closing, the DJIA was down 20 points, or 0.2%, to 11343 after the U.S. unemployment rate rose to its highest level since April. <br />
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Among dually listed shares, power generator Endesa fell 1.5% to CLP916.59, while energy holding company Enersis, Endesa's parent, lost 1% to CLP229.57. <br />
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Also declining, heavy-weighted fuel and forestry conglomerate Copec shed 0.6% to CLP9,300.20 and pulp and paper producer CMPC decreased 1.7% to CLP26,263 as investors continued to book profits. <br />
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With the IPSA having risen 39% this year, analysts see limited upside potential for the remainder of 2010. <br />
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"We see the IPSA moving laterally for the rest of the year. It had a long rally this year, but the IPSA lost the additional boost it was receiving from robust earnings now with [the third-quarter] earnings season over," said analyst Christopher Baillarie at local investment bank BCI. <br />
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In other market news, the peso ended sharply stronger against the dollar, moving closer to a 31-month high, as the euro shot higher versus the dollar and international copper prices gained. <br />
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The peso ended at CLP479.50 to the dollar compared to Thursday's close of CLP483.80 after trading in a range of CLP479.50 to CLP483.80. <br />
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As the peso nears the 31-month high against the dollar, exporters, in the agricultural sector particularly, will likely step up demands for currency market intervention because the local currency's strength hurts the competitiveness of their products. <br />
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In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, again posted very slight or no variations in a thin session. <br />
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The yield on five-year BCU bonds ended at 2.69%, unchanged from the prior two sessions, while the yield on 10-year BCUs closed at 2.87%, from 2.88% on Thursday.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks End Higher Thursday</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Chile's blue-chip Ipsa index ended higher Thursday, lifted with global markets after moves by the European Central Bank quelled fears for now about euro-zone debt. <br />
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The Ipsa ended 0.4% higher at 4978.28, while market volume slipped to 137.0 billion Chilean pesos ($283.2 million). The prior session's volume was unusually high at CLP243.6 billion as the initial public offering of Chilean seafood exporter and farmed-salmon producer Pesquera Camanchaca (CAMANCHACA.SN) accounted for more than half the volume. <br />
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"The European Central Bank injected a well-needed dose of optimism into global markets," said Ximena Garcia, deputy director of studies at local brokerage EuroAmerica. "That's what is lifting Chilean equity." <br />
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Among dually listed shares, flagship carrier LAN Airlines (LFL, LAN.SN) gained 0.4% to CLP15,199.00; specialty chemical and fertilizer producer SQM's (SQM) more liquid B-series shares (SQM-B.SN) increased 1.5% to CLP25,438.00; and beverage company Compania Cervecerias Unidas (CCU, CCU.SN) expanded 0.8% to CLP5,624.00. <br />
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Bank CorpBanca (BCA, CORPBANCA.SN) rose 1.2% to CLP8.27, recovering from the prior session's 3.5% fall. The Chilean bank recently said it was aiming to complete a capital increase of $300 million to $400 million for the sale of up to a 10% stake to Brazilian government-owned Banco do Brasil SA (BBAS3.BR), adding that it expects to complete the sale in the first or second quarter of next year. <br />
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Among the biggest gainers on the day, construction company Besalco (BESALCO.SN) gained 2.7% to CLP965.00 and real estate developer Socovesa (SOCOVESA.SN) climbed 5.2% to CLP370.14 as the sector is expected to continue posting strong results as Chile's economy quickly recovers and post-earthquake reconstruction kicks into full gear. </div><div style="font-family: Arial,Helvetica,sans-serif;">The peso ended stronger against the dollar, tracking the rally in international copper prices. The peso ended at CLP483.80 to the dollar, compared to Wednesday's close of CLP485.20, after trading in a range of CLP483.75 to CLP486.50. <br />
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In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, posted very slight or no variations in a thin session. The yield on five-year BCU bonds ended at 2.69% unchanged from Wednesday, while the yield on 10-year BCUs closed at 2.88%, from 2.87% the previous session. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Close Lower Tuesday</span><br />
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Chile's blue-chip Ipsa index ended lower Tuesday as participants took cues from slumping U.S. markets, pulled lower by euro-zone debt fears, and as investors booked profits. <br />
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The Ipsa ended 0.3% lower at 4956.96, while market volume rose to 131.5 billion Chilean pesos ($270.0 million), from CLP67.1 billion the prior session. <br />
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With several of the Ipsa's heavier-weighted shares also trading in New York, the Ipsa often tracks the Dow Jones Industrial Average. In recent trading, the DJIA declined 16 points, or 0.2%, to 11036 as the euro zone's sovereign-debt saga continues to spook investors. <br />
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The Ipsa has gained nearly 39% this year, the prior session's lower-than-expected industrial production data coupled with fears about the health of Europe, which is one of Chile's main trade partners, led participants to take profits. <br />
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Among dually listed shares, flagship carrier LAN Airlines (LFL, LAN.SN) lost 0.8% to CLP14,961.00; speciality chemical and fertilizer producer SQM's (SQM) more liquid B-series shares (SQM-B.SN) slipped 1.6% to CLP24,833.00 and the nation's largest bank, Banco Santander Chile (SAN, BSANTANDE.SN) declined 1.9% to CLP43.72. <br />
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Local bank CorpBanca (BCA, CORPBANCA.SN) jumped 4.0% to CLP8.47 and accounted for 23.5% of market volume as a local investment bank rushed to buy its shares. <br />
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The peso ended slightly weaker against the dollar, as it tracked a sliding euro versus the dollar, although it pared back some of its earlier losses after hitting key support. <br />
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The peso ended at CLP487.00 to the dollar, compared with Monday's close of CLP486.60, while trading in a range of CLP487.00 to CLP489.30. <br />
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In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended mixed in light over-the-counter trading. The yield on five-year BCU bonds ended at 2.65%, from 2.66% on Monday, while the yield on 10-year BCUs closed unchanged on the day at 2.83%.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile Stocks End Flat</span></div><i><b>Data Disappoint, Some Shares Gain</b></i><br />
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After paring back most of its earlier losses, Chile's blue-chip Ipsa index ended virtually flat Monday as disappointing industrial-production data and a drop in global markets were balanced out as select heavy-weighted shares increased. <br />
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The Ipsa ended 0.02% lower at 4973.58, while market volume fell to 67.1 billion Chilean pesos ($137.9 million), from CLP87.5 billion the prior session. <br />
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Although Chile's industrial output gained 1.7% in October on the year as the Andean nation continues to recover from last year's recession and February's massive earthquake, the increase came in far below market expectations of a 4% rise. <br />
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Also, as several of the Ipsa's heavier-weighted shares also trade in New York, the Ipsa often tracks the Dow Jones Industrial Average. In recent trading, the DJIA was down 22 points, also paring back earlier losses, as investors worried that the $112.61 billion Irish bailout might not be enough to contain the euro-zone debt crisis. <br />
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"Both of these factors, slumping global markets and lower-than-expected industrial production, hurt Chilean equity today," said Alvaro Pipino, head of studies with local brokerage IM Trust. <br />
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Among dually listed shares, flagship carrier LAN Airlines (LFL, LAN.SN) lost 1.0% to CLP15,074.00; energy holding company Enersis (ENI, ENERSIS.SN) shed 0.8% to CLP229.02; and bank CorpBanca (BCA, CORPBANCA.SN) declined 1.0% to CLP8.14. <br />
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Helping to pare back the Ipsa's losses, retail holding giant Cencosud (CENCOSUD.SN) rose 0.8% to CLP3,623.10 as industrial-production data highlighted that the retail sector continues to grow on increasing consumer confidence and lower prices. <br />
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Also, speciality chemical and fertilizer producer SQM's (SQM) more liquid B-series shares (SQM-B.SN) rose 1.3% to CLP25,247.00 after investment bank JPMorgan raised SQM's shares to overweight from neutral. <br />
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Additionally, pulp and paper producer CMPC (CMPC.SN) increased 1.4% to CLP26,591.00 and fuel and forestry conglomerate Copec (COPEC.SN), the Ipsa's heaviest-weighted share, expanded 0.7% to CLP9,485.40 after both companies recently reported robust quarterly earnings. <br />
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Chilean holding company Cruzados (CRUZADOS.SN), which manages the Universidad Catolica soccer team, leapt 23.7% to CLP291.80 as the soccer team is just one tie away from becoming national champions after a five-year dry spell. Cruzados isn't listed on the Ipsa index. <br />
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The peso ended weaker against the dollar, pressured by a falling euro against the dollar on euro-zone debt-contagion fears. The peso ended at CLP486.60 to the dollar, compared to Friday's close of CLP483.10, while trading in a range of CLP484.00 to CLP487.80.<br />
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<span style="font-size: x-large;">ARGENTINA:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina's Stocks Make Record High</span><br />
<b>THURSDAY:</b> In Argentina, the Merval index (MERV 3,367, +105.66, +3.24%) logged a record high by rising 2% to 3,434.40 <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">ARGENTINA NATURAL GAS IMPORTS CLIMBING</span><br />
<i><b>Bolivia More Than Doubling Argentina Gas Imports In January</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">Bolivia now ships around 3.5 million cubic meters of gas a day to Argentina, well short of the 7.7 million stipulated in its contract. Bolivia's supply of gas is still small compared to the roughly 141 million cubic meters of gas a day produced in Argentina. Argentina's government said Wednesday that Bolivia will raise natural gas exports to Argentina to 7.7 million cubic meters a day starting Jan. 1. <br />
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Since nationalizing its energy industry in 2006, Bolivia has had trouble meeting its contractual obligations with Argentina due to persistent supply shortages and a lack of investment in the country's oil and gas sector. </div><div style="font-family: Arial,Helvetica,sans-serif;">Carlos Villegas, president of Bolivia's state oil company, Yacimientos Petroliferos Fiscales Bolivianos, confirmed the plans in a meeting with officials from Argentina's Planning Ministry, according to a government press release. <br />
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In the meeting, the two sides also reviewed progress on plans to increase gas exports to Argentina to 27.7 million cubic meters a day by 2017, as the governments of both countries had announced earlier this year. <br />
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The increased supply will be pumped through the new 43-kilometer, cross-border Juana Azurduy pipeline, which is expected to come on line in early 2011, according to the statement. The pipeline will allow imports to rise to 10 million cubic meters next year and to 11 million in 2012. The additional supply would help Argentina meet its growing domestic demand for natural gas. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Argentina, which relies heavily on natural gas to generate electricity, has become increasingly dependent on Bolivian gas and imported liquefied natural gas from Trinidad and Tobago. <br />
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Argentina pays about $7 per million British thermal unit for the gas from Bolivia. That is roughly two to three times more than the Argentine government allows its domestic producers to charge for conventional natural gas in Argentina. <br />
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Argentina needs natural gas to generate electricity, heat homes and power industry. More than a million cars run on inexpensive compressed natural gas. <br />
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Argentina first had gas shortages in 2004 as the country began to recover from its 2002 economic collapse. <br />
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To avoid an energy crisis, the government has cut gas exports to neighboring Chile, switched power plants over to government-subsidized fuel oil and diesel, and restricted supplies to industrial customers during cold winter months. <br />
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While demand for gas has increased, investment in domestic production has waned amid price controls and heavy state intervention in the energy market. Argentina is now trying to boost investment in exploration and production by raising prices for companies that find unconventional gas known as "tight gas" or "shale gas."<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina's Stocks, Bonds Slip Lower Tuesday</span><br />
Argentine stocks and bonds pulled back slightly Tuesday from the strong gains posted in November as continued worries over Europe's economic health weighed on investor sentiment. <br />
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Pressure on commodities by the rising dollar and Europe's weaker economies intensified this week. Investor jitters in Europe spilled over to Argentine sovereign debt in a general move away from risk. <br />
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The peso-denominated 2033 discount bond fell 2.2% in price terms to ARS182, to yield 7.3%. The dollar-denominated Boden 2015, shed 0.66% in price terms to ARS366.25, with the yield at 9.66%. <br />
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Stocks also came under pressure due to the worries in Europe, with the Merval index of leading shares falling 0.3% to 3,261.49 points. However, the Merval still performed strongly in November, rising 8.5% during the month and bringing its gain so far this year to 37%. <br />
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Argentine companies have benefited from strong gross-domestic-product growth this year, estimated by the central bank at 9%.<br />
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<span style="font-size: large;">CONSTRUCTION GROWS </span><br />
On Tuesday, the government released its construction index, which surged 12.5% on the year in October, extending the sharp expansion seen in recent months. <br />
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The peso eased down against the dollar on Tuesday, slipping to ARS3.9875 to the dollar from ARS3.985.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina's Stocks, Bonds Finish Lower Monday</span><br />
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Argentina's stocks and bonds closed lower Monday, amid a rising dollar and broad declines in global markets. <br />
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European markets tumbled as investors feared that the European Union's bailout of Ireland won't stop other heavily indebted countries in the union from seeking a rescue. Meanwhile, U.S. markets tempered their losses in a late-session bounce. <br />
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Turnover in the local bond market totaled 597.3 billion pesos ($150 million), accounting for 79% of the overall volume on the Buenos Aires Stock Exchange. <br />
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The peso-denominated 2033 discount bond closed 0.6% lower at ARS186, yielding 7.09%. The Bogar 18 fell nearly 1% to close at ARS229, yielding 5.62%. <br />
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The Boden 2015, considered a good proxy for measuring the appeal of newly issued government bonds or the government's ability to sell them, fell 1.9% to ARS368.70, yielding 9.46%. <br />
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Argentina's 2035 peso-denominated GDP warrants fell 1.8% to ARS13.00, while U.S. dollar-denominated GDP warrants with the same maturity closed 4.6% lower at ARS53.90. <br />
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The peso was quoted in interbank markets closing at ARS3.9850 to the U.S. dollar, slightly weaker from the ARS3.9825 at Friday's close. The central bank of Argentina regularly intervenes in currency markets to keep the peso trading in a tight range against the greenback. <br />
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The benchmark Merval stock index fell 1% to close at 3270.10 points. Volume was nearly ARS60 million. <br />
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Electric utility holding company Pampa Energia (PAM, PAMP.BA) fell 2.1% to ARS2.76, banking group Grupo Financiero Galicia (GGAL, GGAL.BA) closed 1% lower at ARS6.22, and shares of phone company Telecom Argentina (TEO, TECO2.BA) tumbled 3% to ARS19.40. <br />
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The BNY Mellon Argentina ADR Index, which tracks U.S.-listed shares of Argentine stocks, fell 0.5% to 281.09.<br />
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<span style="font-size: x-large;">PERU:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Peru's Main Stock Indexes End Higher Friday</span><br />
Peru's stocks ended higher Friday as gold, silver and copper prices boosted the shares of blue-chip mining companies. <br />
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The Lima Stock Exchange's broad General index closed 0.48% higher at 21651.12. The Selective blue-chip index was up 0.55% to close at 30090.55, while the key mining subindex gained 1.14%. <br />
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Precious metals miner Compania de Minas Buenaventura SAA (BVN, BUENAVC1) rose a sharp 3.73% to $52.90, while silver miner Sociedad Minera El Brocal SAA (BROCALC1.VL) gained 3.77% to 55.00 soles ($19.50). <br />
<br />
Base metals miner Southern Copper Corp.(SCCO, SCCO.VL) was up 0.46%, in line with copper price gains earlier in the day, closing at $44.10. Copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) also rose, gaining 2.09% to $43.90. <br />
<br />
The sol ended slightly stronger at PEN2.822 to the dollar from PEN2.827 the previous session.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Peru's Stock Indexes End Higher Thursday</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Peru's main stock market ended higher Thursday as rising metals prices helped lift various mining companies. The Lima Stock Exchange's broad General index closed higher by 0.85% at 21547.34. The Selective blue-chip index ended stronger by 0.87% at 29926.34. <br />
<br />
Base metals miner Southern Copper Corp.(SCCO, SCCO.VL) rose 1.62% to end at $43.90 on stronger copper prices, while copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) increased 3.61% at end at $43. <br />
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Tin miner Minsur SA (MINSURI1.VL) gained 0.98% to end at 10.30 soles ($3.64) on a rise in tin prices. Financial holding Credicorp Ltd. (BAP, BAP.VL) increased 1.92% to end at $124. It owns Peru's largest bank, Banco de Credito. <br />
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The sol ended unchanged at PEN2.827 per dollar. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Peru's Main Stock Indexes End Higher Tuesday</span><br />
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Peru's main stock market indexes ended higher on Tuesday, as a number of blue-chip shares gained ground. The Lima Stock Exchange's broad General index closed higher by 0.24%, at 20,854.50. <br />
<br />
<u>The blue-chip index ended stronger by 0.40% at 28,989.81. </u><br />
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Financial holding Credicorp Ltd. (BAP, BAP.VL) increased 0.12% to end at $120.70. It owns Peru's largest bank, Banco de Credito. Compania Minera El Brocal SAA (BROCALC1.VL), one of Peru's leading silver producers, increased 0.19% to end at 51.90 soles ($18.19) on stronger silver prices. Beverage producer Union de Cervecerias Peruanas Backus & Johnston SAA (BACKUSI1.VL) rose 3.6% to end at PEN5.70. <br />
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The sol ended weaker at PEN2.832 to the dollar from PEN2.829 in the previous session. <br />
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Central Reserve Bank of Peru chief economist Adrian Armas said Tuesday that the sol is expected to continue posting "hiccups" in the short term due to uncertainty in the international economic situation.<br />
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<span style="font-size: x-large;">MEXICO:</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico's Stocks Close Lower Friday</span><br />
Mexican stocks attempted to continue gains, however stocks pared back their intraday losses late Friday but still finished lower in a choppy session weighed down by discouraging economic data and concerns that Mexican shares are overbought. <br />
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The IPC index of Mexico's leading 35 shares ended 14 points lower, at 37386, with 21 of its components ending in the red. Trading volume was moderate at 4.5 billion pesos ($365 million). The index was up as much as 126 points early in the session, and down as much as 131 points in the afternoon. <br />
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The Mexican bourse has been on a tear in recent months, breaking one technical ceiling after another. Year-to-date, the IPC is up 16.4%. Some brokerage houses are now forecasting that the index could end December at 39000 points. <br />
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Local brokerage Ixe commented in a recent note that whether valuations are considered expensive depends on how aggressive the investor is. "Nonetheless, on more than one occasion the market has kept advancing independently of having high valuations," the analysts added. <br />
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In early morning trading, Mexico's IPC index of 35 leading shares was up 0.2% to 37480 on volume of 587 million pesos ($47.4 million).<br />
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Among key Mexican shares, wireless carrier and market benchmark America Movil slumped 0.7% to MXN35.35, cement maker Cemex gained 1.5% to MXN11.97 and bread maker Bimbo rose 0.6% to MXN105.03. <br />
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Bimbo said Thursday it is investing about $200 million, together with Desarrollos Eolicos Mexicanos, a subsidiary of Spanish renewable energy company Renovalia Energy SA, to build a wind farm that will supply most of Bimbo's electricity needs in Mexico. <br />
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The peso weakened marginally from its prior close of 12.3270 to the dollar while recovering significantly from a morning level of MXN12.3790 to end the week at MXN12.3380. <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;">Mexico Nov Consumer Confidence Falls </span></div><div style="font-family: Arial,Helvetica,sans-serif;">Mexican consumer confidence slipped for a second consecutive month in November, mainly as expectations for the country's economic situation became less optimistic.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The Mexico government's statistics agency Inegi said consumer confidence fell in November versus the previous month. <br />
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Among key Mexican shares early Friday, wireless carrier and market benchmark America Movil was off 0.1% at MXN35.58, cement maker Cemex was up 0.5% at MXN11.85 and bread maker Bimbo was gaining 0.7% to MXN105.10. <br />
<br />
Bimbo said Thursday it is investing about $200 million, together with Desarrollos Eolicos Mexicanos, a subsidiary of Spanish renewable energy company Renovalia Energy SA, to build a wind farm that will supply most of Bimbo's electricity needs in Mexico. <br />
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The peso was weaker in early trade at 12.3790 to the dollar versus MXN12.3270 at the close Thursday.<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico's Stocks Make Record High Thursday</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span class="highlightterm">Mexico’s</span> key equity benchmark notched a record closing high Thursday, with the market finding support from robust monthly sales figures from the U.S., <span class="highlightterm">Mexico’s</span> largest trading partner. In <span class="highlightterm">Mexico</span>, retailer Wal-Mart de <span class="highlightterm">Mexico</span> is due to release November same-store sales results on Tuesday. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><span style="font-family: Arial,Helvetica,sans-serif;">Mexico’s IPC index (XX:IPC 37,278, +460.24, +1.25%) rose 0.3% to end at 37,399.47. The move extended the index’s 1.3% jump on Wednesday when it reached a high mark of 37,277.56. </span><br />
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Cement maker Cemex (CX 9.65, +0.07, +0.73%) shares climbed 2.7% and banking concern Grupo Financiero Banorte (MX:GFNORTEO 54.25, +0.12, +0.22%) rose 3.6%. Market heavyweight America Movil’s (AMX 57.68, -0.08, -0.14%) shares slipped 0.3% and steel producer Industrias CH (MX:ICHB 45.40, +0.73, +1.63%) gained 3.6%.<br />
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<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MEXICO'S CONTAINER TRAFFIC INCREASES</span><br />
<i><b>Container Traffic At Mexican Ports Seen Up 26% In 2010</b></i> <br />
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Mexico expects container traffic at its ports to rise 26% this year from 2009 to 3.62 million twenty-foot equivalent units, or TEUs, reflecting a sharp recovery in trade as well as public investments to increase capacity. <br />
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Since the beginning of 2007, the government has invested 32.43 billion pesos ($2.62 billion) to upgrade numerous ports on the Pacific and Atlantic coasts, the Communications and Transport Ministry said Wednesday in a press release. <br />
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At the Pacific port of Lazaro Cardenas, the government has spent MXN3.48 billion to increase container capacity by 600,000 TEUs per year. Ongoing public and private investments at the nearby port of Manzanillo should exceed MXN10 billion for construction of a new container terminal and a terminal for liquid natural gas. <br />
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The SCT didn't mention the $5 billion megaport project known as Punta Colonet, which was tendered in 2008 but stalled shortly afterward as the credit crunch and global recession squeezed any would-be bidders. <br />
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Container traffic at Mexico's ports this year is expected to surpass the previous record of 3.32 million TEUs, set in 2008. <br />
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Trade has been one of several bright spots in Mexico's economic recovery, with exports in the January to October period rising 32% from a year earlier to $243.31 billion and imports up 30% to $246.11 billion. </div><div style="font-family: Arial,Helvetica,sans-serif;">The SCT also said it has invested MXN152.17 billion in highway infrastructure since 2007, when current President Felipe Calderon's term began. Additional private investments in that period amount to MXN22.94 billion.</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>FRIDAY:</b> The U.S. dollar continued to lose ground against its major counterparts during the European trade, with the EUR/USD advancing to a high of 1.3268. <br />
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<b>THURSDAY:</b> The European Central Bank abandons its plans to wind down emergency support for banks and government debt markets, responding to concerns that an early exit from such programs could jeopardize the euro currency.The sovereign debt crisis in Europe is serious and shouldn't be underestimated, the chief of the International Monetary Fund says, days after the European governments signed a bailout plan for Ireland.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Markets Rise Thursday</span><br />
Thursday: EURO STOXX 50 2,746.91 +25.04 (0.92%) <br />
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The Stoxx Europe 600 index ended up 1.7% at 271.61. The U.K.'s FTSE 100 closed 2.2% higher at 5767.56, Germany's DAX advanced 1.3% to 657.61 and France's CAC-40 closed 2.1% higher at 3747.04.Spain's IBEX climbing 2.8% to 9947.60. <br />
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By the close of European equity markets, spot gold on the Comex division of the New York Mercantile Exchange was up $18.80 per ounce at $1384.8. Light, sweet, crude for January delivery was up $0.40 at $87.15 on the New York Mercantile Exchange. <br />
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Late in Europe, the euro was at $1.3221 from $1.315. The dollar was weaker against the yen. <br />
<br />
European stocks were up 0.7 percent in morning trade, extending the previous session's strong gains, as investors watched to see if the European Central Bank would rush through new measures to resolve the euro zone debt crisis.<span id="articleText">The FTSEurofirst 300 index .FTEU3 rose half a percent while emerging stocks .MSCIEF gained 1.2 percent</span><br />
.<br />
<br />
By 1150 GMT, the pan-European FTSEurofirst 300 .FTEU3 index of top shares was up 0.4 percent at 1,093.28 points. Across Europe, Britain's FTSE 100 .FTSE, Germany's DAX .GDAXI and France's CAC 40 .FCHI were up 0.1-0.6 percent, while the Thomson Reuters Peripheral Eurozone Countries Index .TRXFLDPIPU added 1.3 percent. <br />
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<span id="trackingEnabledModule" name="trackingEnabledModule">The European Central Bank faced pressure on Thursday to take steps to help contain the euro zone's debt problems, but could upset financial markets if it fails to announce new anti-crisis measures.</span> <br />
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The European Central Bank is expected to keep unlimited liquidity operations in place for longer with the euro zone debt crisis raging unabated, but analysts say it is unlikely to announce mass new bond purchases on Thursday.<br />
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The cost of insuring peripheral euro zone debt against default eased on Thursday ahead of the ECB meeting, while the euro gained ground against the dollar.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European Stocks Rise Wednesday </span></div>Investors picked up financial stocks, which had slumped in recent days on worries about the financial health of some euro-zone governments, and mining stock, which rose on upbeat global economic data. </div><div style="font-family: Arial,Helvetica,sans-serif;">The Markit final euro-zone manufacturing PMI rose to 55.3 in November from 54.6 in October. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The euro recovered from 2 1/2-month lows hit Tuesday and reached its highest point of the day after Portugal's sale of 12-month Treasury bills went better than expected. <br />
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The Stoxx Europe 600 index ended up 2% at 267.11. The U.K.'s FTSE 100 gained 2.1% to 5642.50, Germany's DAX climbed 2.7% to 6866.63 and France's CAC-40 rose 1.6% to 3669.29. <br />
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Madrid's IBEX 35, which plunged 14% in November, surged 4.4% to 9678.40. Milan's FTSE MIB, which skidded 11% last month, climbed 2.4% to 19566.06.<br />
<br />
Tuesday, the Stoxx Europe 600 index gained 1.4% in intraday trading, as a British manufacturing survey registered its highest reading in 16 years and Germany's retail sales jumped higher than expected in October.The euro gained 0.8% to above the $1.30 mark to recoup some of its recent heavy losses. <br />
<br />
<br />
<b>Monday</b>, European shares dropped again Tuesday as sovereign-debt worries continued to wash across the continent, with banks in particular falling hard as yields on Spanish and Italian debt soared. Economists said the Irish bailout plan and the fund, which is to take effect from July 2013 and would impose losses on holders of bonds issued by governments declared insolvent, may have made matters worse. Borrowing costs for euro-zone members Portugal, Spain, Italy--and even Belgium--jumped sharply. The euro tumbled and European stock markets were down sharply. <br />
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The Stoxx Europe 600 index slipped for the third straight session, falling 0.1% to end at 261.83.<br />
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<span style="font-size: x-large;">LONDON:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><b><br />
</b><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">FTSE Ends Lower Friday</span></div><br />
FTSE 100 5745.32 -22.24 -0.39<br />
FTSE 250 11082.17 +5.37 +0.05<br />
DJ UK Smaller Companies 935.81 +1.05 +0.11<br />
<br />
The U.K.'s dominant services sector expanded at a marginally slower pace in November than October, weighed down by weak confidence and job cuts, data showed Friday. Spot gold is steady in Europe Friday, with resistance at $1,400 a troy ounce continuing to hold firm . <br />
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<br />
<span style="font-size: large;">London Stocks Close Higher Thursday</span><br />
FTSE 100 5769.00 +126.50 +2.24%<br />
FTSE 250 11065.47 +256.14 +2.37%<br />
DJ UK Smaller Companies 933.38 +13.20 +1.43%<br />
<br />
London Stocks Close Higher, Buoyed By Europe <br />
<br />
1640 GMT FTSE 100 closes +2.2%, mirroring European markets, which close higher on comments by ECB President Jean-Claude Trichet. The ECB, which maintains interest rates at 1%, delays an exit strategy from the markets, with liquidity measures remaining unchanged until the end of 1Q. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Traders remain cautious. "While the market is trading strongly higher, volume is hardly spectacular, indicating that even fund managers may just be dipping their toes," says Manoj Ladwa at ETX Capital. Looking ahead, German, French, UK and euro zone PMI data are due Friday. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Glaxo Nears Deal To Buy Chinese Drug Company </span></div><div style="font-family: Arial,Helvetica,sans-serif;">GlaxoSmithKline PLC (GSK, GSK.LN) is nearing a deal to buy Nanjing MeiRui Pharma Co., a Chinese drug company that would boost its exposure to the fast-growing market, according to people familiar with the matter.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">EU Extends News Corp, BSkyB Antitrust Review</span></div><div style="font-family: Arial,Helvetica,sans-serif;">The European Commission has extended its deadline to examine media giant News Corp.'s (NWS) proposed takeover of the U.K.-pay television operator British Sky Broadcasting Group PLC (BSY.LN) by a fortnight following additional information to address competition concerns.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">R</span><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">edhall Sees Big Role In New Nuclear Build</span></span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;"></span></span>U.K. engineering services company Redhall Group PLC (RHL.LN) Thursday said it expects to play a material role in the construction of new nuclear power plants in the U.K. after forging alliances with French manufacturers bidding for key business. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Kingfisher Sales Flat</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Home improvement retailer Kingfisher PLC (KGF.LN) reported broadly flat third quarter comparable sales as growth at its international businesses offset continued declines in the U.K. and Ireland.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Weather Fears Give Wheat Markets New Impetus </span><span style="font-family: Arial,Helvetica,sans-serif;">European milling wheat futures rose to contract highs Thursday, boosted by fears that tightening world markets may increase demand for the region's dwindling supplies.</span><br />
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<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">FSA Clears Ex-RBS Executives</span></div>Executives of Royal Bank of Scotland Group PLC (RBS), including former Chief Executive Fred Goodwin, have escaped sanctions by the U.K. Financial Services Authority for their actions in the lead-up to the bank's near collapse in 2008, in a blow to shareholders who saw the value of their stock plummet from the bank's government bailout.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;"><span style="font-size: x-large;">LONDON STOCKS CLOSE HIGHER WED. </span></span></span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">Strong U.K. manufacturing data also added to the upward momentum in London. The purchasing managers' index for the U.K. manufacturing sector rose to 58.0 in November. </span></span></span><br />
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<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;">.<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">LONDON STOCKS CLOSE LOWER TUESDAY.</span></span> </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">FTSE 100 5528.27 -22.68 -0.41%</span><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">FTSE 250 10607.75 -81.85 -0.77%</span><br style="font-family: Arial,Helvetica,sans-serif;" /><span style="font-family: Arial,Helvetica,sans-serif;">DJ UK Smaller Companies 906.82 -4.76 -0.52%</span>.</span></span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;"><span style="font-size: large;">BP Consortium To Spend $3 Billion</span></span></span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;"><span style="font-size: large;"> To Hike Azeri Gas Pipe Capacity </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">A consortium led by U.K. oil major BP PLC (BP) will spend around $3 billion to increase capacity at a pipeline in Azerbaijan carrying natural gas from the second stage of the huge Shah Deniz field in the Caspian Sea, the company said Tuesday.</span></span></span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Shell, Gazprom To Deepen Russian Ties</span><br />
Royal Dutch Shell PLC (RDSB.LN) and Russian gas giant OAO Gazprom (GAZP.RS) signed an agreement Tuesday that will deepen their existing partnership within Russia and see them work together outside the country for the first time, Shell said in a statement. </span></span></span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">.</span></span> </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FTSE Closes Lower Monday</span><br />
FTSE 100 5550.95 -117.75 -2.08%<br />
FTSE 250 10689.60 -119.83 -1.11%<br />
DJ UK Smaller Companies 911.58 -0.79 -0.09%<br />
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FTSE 100 closes down, extending earlier losses on persistent concerns about European sovereign debt.<br />
<br />
The U.K.'s independent Office for Budget Responsibility cut its official growth forecast slightly for 2011.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Wheat Tops 2-1/2Year High</span><br />
<i><b>Supply Concerns Grow </b></i><br />
U.K. wheat prices rose to a fresh 2.5-year high, boosted by ongoing concerns that the rapid pace of exports will squeeze this season's supplies.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;">UK REAL ESTATE PRICES DOWN </span></div><div style="font-family: Arial,Helvetica,sans-serif;">A lack of new buyers prompted U.K. house prices to fall for a fifth straight month in November, while year-on-year the decline in prices deepened from October to the largest since December 2009, a survey showed Monday.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;">UK October Mortgage Lending And Consumer Credit Surges </span>U.K. consumers' appetite for debt, and ability to secure it, picked up in October, boosted by sharp upturns in both secured and unsecured borrowing, despite weakening confidence and as details of government spending cuts emerged in fuller detail, data from the Bank of England showed Monday. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;">UK Consumer Services Business Falls</span></div><div style="font-family: Arial,Helvetica,sans-serif;">U.K. consumer service companies reported a surprise drop in business volumes in the three months to November as Britons cut back on leisure activities and other discretionary spending, a survey shows Monday. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">BA Shareholders Approve Merger With Iberia</span></div><div style="font-family: Arial,Helvetica,sans-serif;">British Airways PLC's (BAY.LN) shareholders Monday voted overwhelmingly in favor of its merger with Spain's Iberia Lineas Aereas de Espana SA (IBLA.MC), the final step before the airlines become International Consolidated Airlines Group SA, or IAG, in the new year.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Shell Selling Texas Gas Fields </span><br />
Shell Oil Co., the U.S. arm of the European oil giant Royal Dutch Shell PLC (RDSA, RDSA.LN), has put its South Texas gas fields on the block, and a sale could fetch roughly $1 billion.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">GERMANY:</span><br />
<b>Friday: The German DAX fell 9 pts to 6947 </b><br />
Tuesday: The German DAX 30 index slipped 0.1% to 6,688.49</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
German steel maker ThyssenKrupp edged down 0.5% after it offered an outlook for 2011 trading that was weaker than some analysts had hoped. <br />
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<span style="font-size: x-large;">FRANCE:</span><br />
<b>FRIDAY: The CAC 40 gained 3 points to 3750 </b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">France's President Sarkozy: Reaffirms Confidence In Euro </span><br />
French President Nicolas Sarkozy said Friday he wants to reinforce governance in the euro zone and reaffirmed his confidence in the European Union's single currency. He spoke following a meeting with European central bank's president, Jean-Claude Trichet. <br />
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<i>"The euro is a credible currency and has become, in 10 years of existence, the world's second reserve currency,</i>" Sarkozy said in a statement released by his office. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FRENCH OFFICIALS WARN AGAINST</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> A BANK-RUN NEXT WEEK</span><br />
Bankers and politicians warned against a plan inspired by French former football star Eric Cantona to spark a bank run next week, saying that such a move would be counterproductive.<br />
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<br />
<br />
THURSDAY: CAC 40 index 3,702.16 +32.87 (0.90%) <br />
TUESDAY: the French CAC 40 index dropped 0.7% to 3,610.44.<br />
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Engineering firm Alstom climbed 2.6% after it was upgraded to buy from hold at Deutsche Bank. <br />
<br />
<br />
<span style="font-size: x-large;">SWITZERLAND:</span><br />
TUESDAY: The SMI stock index dropped 1.3%<br />
<br />
Shares of food giant Nestle slipped 2.2% after the stock was downgraded to neutral from outperform by Credit Suisse, which said it was "time to draw breath" with the shares trading at a significant premium to peers. <br />
<br />
Swiss banks were also under selling pressure. Shares of UBS AG dropped 2%, and those of rival Credit Suisse Group AG fell 2.6%. Shares in BASF SE gained 2.2% after the chemicals giant said it is setting up a joint venture with Ineos Industries Holdings. The joint venture is expected to have annual sales of more than 5 billion.<br />
<br />
<br />
<span style="font-size: x-large;">ITALY:</span><br />
TUESDAY: Italy's FTSE MIB index slipped 1.1%<br />
<br />
<span style="font-size: x-large;">SPAIN:</span><br />
TUESDAY: Spain's IBEX 35 dropped 0.6%<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Madrid Airspace Closed Friday</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> By Traffic Controller Walkout</span><br />
Airspace around Madrid and the Balearic Islands has been closed after air traffic controllers walked off the job, a spokeswoman for Spain's airport authority said Friday. <br />
<br />
The spokeswoman declined to comment on the reason for the walkout, though the government earlier this week announced plans to privatize parts of key airports.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: x-large;">IRELAND:</span><br />
<b>Friday: Dublin Stocks: ISEQ Ends -0.4% At 2,741; Irish Life -5% </b><br />
Wednesday: Dublin Stocks: ISEQ Ends +1.8% At 2,695; CRH +3.2% <br />
Tuesday: Dublin Stocks: ISEQ Ends Flat At 2,650; Irish Life +22%<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><i><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">The Bank of Ireland and Irish Life & Permanent </span><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">Group Holdings PLC (IPM.LN) Monday said they are launching capital raising drives to meet the terms of the country's multi-billion euro bailout that was agreed with international partners.</span></i> </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Ireland Approved For $113 Billion Bailout</span><br />
Ireland received approval for an 85 billion-euro ($113 billion) emergency-aid package as European finance ministers battled to contain the fiscal crisis.<br />
<br />
Ireland will receive 67.5 billion euros from the European Union and International Monetary Fund and provide 17.5 billion euros from its own pension reserves, Martti Salmi, a spokesman for the Finnish Finance Ministry, said today after EU finance ministers endorsed the plan in Brussels.<br />
<br />
“We have to discuss the broader ramifications of the current crisis and we have to discuss a systemic response to this crisis,” EU Economic and Monetary Affairs Commissioner Olli Rehn before the meeting that was only announced this morning.<br />
<br />
Ireland became the second euro country to seek a rescue after the Greek debt crisis earlier this year destabilized the currency and forced the EU to set up a 750 billion-euro rescue fund backed by the International Monetary Fund.<br />
<br />
Prime Minister Brian Cowen’s government is unraveling. He has overseen the collapse of Ireland’s banking system and national finances after a 10-year property bubble burst, the economy tumbled into recession and unemployment surged close to 14 percent. <br />
<br />
Ireland has been brought “to its knees” by the government and bankers, said Jack O’Connor, head of Ireland’s umbrella organization for labor unions. He told the crowd of 50,000 protestors “Several generations of Irish men and women” will have to foot the bill, he said.<br />
<br />
Dublin's Green Party is calling for January elections and some lawmakers from his own party are slamming the Prime Minister's leadership. <br />
<br />
<br />
<span style="font-size: x-large;">PORTUGAL:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">PORTUGAL'S BANKS PILE UP GOVERNMENT DEBT</span><br />
Just like in the U.S. by the Federal Reserve, Portuguese banks are buying their government's debt at a fast pace, a move that could pose a risk to institutions that so far have weathered the financial crisis better than many.<br />
<br />
<br />
____________________________________________________________<br />
<span style="font-size: x-large;">Asian Pacific Markets:</span><br />
<br />
Asian stock markets opened higher Thursday, lifted by Wall Street's surge Wednesday, with miners leading Sydney stocks up and exporters supporting Japan. <br />
<br />
<span style="font-size: x-large;">CHINA:</span><br />
<i><b>THURSDAY: Shanghai 2,843.61 +20.16 (0.71%)</b></i> <br />
<i><b>Hang Seng Index 23,448.78 +198.98 (0.86%)</b></i><br />
<br />
Investors cheered improving data on China's manufacturing sector Wednesday as an encouraging sign of future oil demand from the world's second-largest crude consumer. <br />
<br />
China's official purchasing managers index rose to 55.2 in November from 54.7 in October, driven by better output and exports, a sign of strength both domestically and overseas. <br />
<br />
Tuesday: Shanghai 2,820.18 -46.18 (-1.61%)Tuesday: Hang Seng Index 23,007.99 -158.23 (-0.68%)<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">China Approves Investments In Foreign Gold Funds </span><br />
Beijing-based Lion Fund Management Co. said they received approval from the China Securities Regulatory Commission on Monday to proceed with the fund. China's securities regulators have given the go-ahead for a mutual fund to invest in exchange-traded gold funds outside the country, potentially tapping interest among mainland China investors who face negative real interest rates on their bank deposits and want to hedge against inflation. Chinese gold imports have been climbing as the nation's central bank started to build gold reserves in recent years and domestic interest in gold investment grew. <br />
<br />
<br />
<span style="font-size: x-large;">JAPAN:</span><br />
<b>Thursday: Japan's Nikkei Stock Average was up 1.81%,</b> <br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">JAPAN'S NIKKEI UP THURSDAY </span></div><div style="font-family: Arial,Helvetica,sans-serif;">All 33 of the Topix's sub-indexes were higher with Canon up 2.3% and Olympus up 2.9% on the yen's drop. Toyota Motor slipped 0.3% on news of a 3.3% fall in U.S. new-vehicle sales in November. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
December Japanese government bond futures were down 0.39 at 140.94 points, weighed by U.S. Treasurys' losses Wednesday while the yield on the benchmark 10-year cash JGB was up 3.0 basis points at 1.195%. <br />
<br />
<br />
<span style="color: red;">Tuesday, USGS Reported a 6.9 Earthquake Strikes 502 miles South of TOKYO, Japan: </span><br />
<a href="http://earthquake.usgs.gov/earthquakes/recenteqsww/Maps/region/Asia.php">http://earthquake.usgs.gov/earthquakes/recenteqsww/Maps/region/Asia.php</a><br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">JAPAN PASSED DOMESTIC STIMULUS PLAN</span><br />
<i><b>Monday, Japan passed a new $61 billion stimulus package</b></i><br />
<br />
Japan's parliament has passed a stimulus package worth about $61bn ($US58b)(£39bn), designed to kick-start the country's fragile economic recovery. The stimulus was designed to create jobs, Prime Minister Nato Kan said, through measures to help small businesses and boost consumer spending.<br />
<br />
The government has already introduced several stimulus packages. Earlier, figures showed that Japanese consumer prices fell for the 20th month in a row in October.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The vote in favour of the latest stimulus measures represents a victory for the government, which has struggled to get the package through parliament. The move is in marked contrast to European governments' policies, which are focusing on cutting spending to secure growth.</div><div style="font-family: Arial,Helvetica,sans-serif;">Falling prices<br />
<br />
Japan has been struggling with weak growth, a high yen and deflation. The core consumer price index fell by 0.6% in October compared with a year earlier, official figures showed. This was a slight improvement on the 1.1% price falls seen in September. Deflation is particularly damaging to economic growth as consumers delay purchases until prices fall further. The improvement from September does not reflect any improvement in consumer demand, analysts said.<br />
<br />
"Even though the pace of the fall in prices slowed by 0.5 percentage points, this was not due to an improved demand-supply balance," said Asushi Matsumoto at the Mizuho Research Institute. Instead, he said, it was down to one-off factors, such as a hike in cigarette prices. This means that "exit from deflation will be slower than previously thought," Mr Matsumoto argued.<br />
<br />
Weak exports - Japan is also struggling with a strong yen, which makes exports more expensive to overseas consumers. Figures released last Thursday showed export growth slowing for the eighth month in a row, with exports to Europe falling for first time for almost a year.<br />
<br />
Analysts say weaker exports could also contribute to reduced consumer demand.<br />
<i>Read the entire article at the BBC:</i><br />
<a href="http://www.bbc.co.uk/news/business-11844483">http://www.bbc.co.uk/news/business-11844483</a><br />
<br />
<br />
<span style="font-size: x-large;">SOUTH KOREA:</span><br />
<i><b>Thursday: South Korea's Kospi Composite rose 0.7%</b></i><br />
Hyundai Motor rose 0.8% after the company announced robust U.S. sales Wednesday while Kia Motors was up 2.8%. Tech shares gained on hopes for improved business next year with Samsung Electronics up 1.8% and Hynix Semiconductor up 2.1%.<br />
<br />
<br />
<span style="font-size: x-large;">AUSTRALIA:</span><br />
<b>Thursday: Australia's S&P/ASX 200 was up 1.6%, </b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">AUSTRALIAN MARKETS OPENS HIGHER THURSDAY<br />
</span><br />
Mining stocks led the Sydney market higher with BHP Billiton and Rio Tinto both up 2.2% while Westpac rose 2.5%, though the market was off highs on news that Australian retail sales fell 1.1%, well below expectations for a 0.4% rise.</div><div style="font-family: Arial,Helvetica,sans-serif;">Leighton was up 2.6% after its Thiess subsidiary won a 20-year, A$5.5 billion contract to mine coal at NTPC Ltd. Pakri Barwadhi field. The Indian field is expected to produce 15 million metric tons a year of coal, Leighton said.</div><span style="font-family: Arial,Helvetica,sans-serif;">The Australian dollar was dragged lower by the weaker-than-expected retail sales data, and traded at US$0.9631, from about US$0.9660 before the data.</span><br />
<br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: large;">Coal Africa To Pay $75M for Rio Tinto's Chapudi Coal Project</span><br />
Coal of Africa Ltd. (CZA.AU) said Monday it will buy the Chapudi coal project and other South African assets off Rio Tinto Ltd. (RIO) in a US$75 million deal that will increase the miner's coal resource by 1.04 billion tons.<br />
<br />
<br />
MONDAY:Australian stocks look set to open weaker on Monday, after a sell-off on major international markets over the weekend. The December share price index futures contract is pointing to a 21-point fall, or 0.46 per cent, when trading opens on Monday.<br />
<br />
Nervous investors sold off European equities on Friday, fearing Ireland's debt and deficit difficulties will force Portugal and Spain to follow its lead and appeal for outside financial help. Wall Street closed lower on Friday on thin volumes as traders returning from the Thanksgiving holiday took their cue from European bourses...<br />
<br />
Two key statistics for the month of October will be released over the next two days.<br />
<br />
On Monday the Housing Industry Association will release home-sales figures and on Tuesday the Reserve Bank will hand down financial aggregates data.<br />
<br />
The Australian Bureau of Statistics will publish the September quarter business indicators on Monday, October building approvals and quarterly balance-of-payments on Tuesday, the national accounts, including the GDP (gross domestic product) on Wednesday and October retail sales figures on Thursday.<br />
<br />
Among the many companies holding their annual general meetings in the coming week are SEEK Ltd, OrotonGroup Ltd, Nufarm Ltd and David Jones Ltd.<br />
<br />
<br />
The spot price of gold in Sydney was $US1,370.50 per fine ounce at close on Friday, down $US1.58 on Thursday's closing price of $US1,372.08 per fine ounce.<br />
<br />
<i>Read the entire article at The Sydney Morning Herald</i><br />
<a href="http://news.smh.com.au/breaking-news-business/aust-market-tipped-to-open-weaker-20101128-18c5f.html">http://news.smh.com.au/breaking-news-business/aust-market-tipped-to-open-weaker-20101128-18c5f.html</a><br />
<br />
<br />
<span style="font-size: x-large;">NEW ZEALAND:</span><br />
<i><b>New Zealand's NZX-50 added 0.4% </b></i><br />
<br />
Stronger offshore markets and upbeat economic data from Europe, U.S. and China over the past day lifted New Zealand shares. Fisher & Paykel Healthcare rose 2.0% as exporters were helped by selling pressure in the New Zealand dollar, which is being hurt by the soft domestic backdrop.<br />
<br />
Contact Energy added 0.5% on news it has approval to build a windfarm, while Pyne Gould rose 2.7% as a merger between its wholly-owned financial services company MARAC, CBS Canterbury and Southern Cross Building Society aimed at creating New Zealand's first listed bank moves closer.<br />
<br />
<br />
____________________________________________________________<br />
<span style="font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<b>(FRIDAY, DEC 03, 2010 4:05 PM EST)</b><br />
<br />
EUR/USD 1.3383 +0.0164 (1.24%)<br />
USD/JPY 82.9200 -0.9800 (-1.17%)<br />
GBP/USD 1.5745 +0.0153 (0.98%)<br />
CAD/USD 0.9955 -0.0008 (-0.08%)<br />
USD/HKD 7.7635 -0.0025 (-0.03%)<br />
USD/CNY 6.6628 +0.0019 (0.03%)<br />
AUD/USD 0.9909 +0.0143 (1.46%)<br />
<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<b>(FRIDAY, DEC 03, 2010 4:05 PM EST)</b><br />
Shanghai 2,842.43 -1.18 (-0.04%)<br />
Nikkei 225 10,178.32 +9.80 (0.10%)<br />
Hang Seng Index 23,320.52 -128.26 (-0.55%)<br />
TSEC 8,624.01 +38.24 (0.45%)<br />
FTSE 100 5,745.32 -22.24 (-0.39%)<br />
DJ EURO STOXX 50 2,782.39 +1.00 (0.04%)<br />
CAC 40 3,750.55 +3.51 (0.09%)<br />
S&P TSX 13,178.95 +15.42 (0.12%)<br />
S&P/ASX 200 4,694.20 +18.00 (0.38%)<br />
BSE Sensex 19,966.93 -25.77 (-0.13%)<br />
<br />
<br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FRIDAY'S U.S. ECONOMIC CALENDAR:</span><br />
<br />
<b>8:30 a.m.</b><br />
Nov Unemployment rate Non-Farm Payrolls (expected +144K), Unemployment Rate (expected 9.6%), Average Hourly Earnings (previous 22.73), Net Change (previous +0.05), Manufacturing Payrolls (previous -7K), Overall Workweek (previous 34.3), Net Change (previous +0.1), Service Producing Payrolls (previous +146K), Government Payrolls (previous -8K), Federal Payrolls (previous -1K)<br />
<br />
<b>10:00 a.m.</b><br />
Oct Manufacturers' Shipments, Inventories & Orders (M3) Total Orders (expected -1.1%), Orders, Ex-Defense (previous +1.9%), Orders, Ex-Transportation (previous +0.4%), Durable Goods 1st Est (previous +3.3%), Durable Goods Revised (previous +3.5%)<br />
<br />
<b>10:00 a.m.</b><br />
Nov ISM Non-Manufacturing Report Non-Manufacturing PMI (expected 55), Non-Manufacturng Business Index (previous 58.4), Prices Index (previous 68.3), Employment Index (previous 50.9), New Orders Index (previous 56.7)<br />
<br />
<b>12:30 p.m.</b><br />
Philadelphia Fed Pres Plosser speaks on the economy in Rochester, N.Y.<br />
<br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, THUR., DEC. 02, 2010:</span><br />
<br />
<b>Stocks:</b><br />
Thursday, the dollar declined and U.S. stocks extended the market's strong start to the month as good chain-store sales and better-than-expected pending home sales painted a brighter picture of the U.S. economy. Also helping stocks, pressure on the euro eased on talk that the European Central Bank was actively buying more bonds of some of the bloc's more financially stressed governments. <br />
<br />
<br />
<b>Treasurys:</b><br />
Investors shed Treasurys in full force after better data that left investors feeling more optimistic about the global economic recovery. Treasurys fell as demand for relatively safe assets waned ahead of a key U.S. jobs report. The losses were capped thanks to purchases by the Federal Reserve. Higher yields also lured some fresh buyers. At the peak of the selling, the benchmark 10-year note's yield broke above 3% for the first time since late July.<br />
<br />
<br />
<b>Forex:</b><br />
The euro advanced on the dollar but came off session highs near the close. The euro rose against the dollar after talk of European Central Bank bond-buying actions spoke louder than the central bank president's measured words. Market participants said the ECB during bank President Jean-Claude Trichet's press conference was "fairly aggressive" buyers of sovereign debt in the periphery of the euro zone. <br />
<br />
<br />
<br />
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</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-87231815153347152482010-11-21T16:45:00.000-08:002010-11-30T10:42:00.525-08:00Stock Market Update - November 22-26, 2010 Cautious Choppy Mixed Trend<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">November 22-26, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="separator" style="clear: both; font-family: Arial,Helvetica,sans-serif; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>USA EQUITY INDEXES: (NOV. 26, 4:05 PM EST)</b></i><br />
<b> </b><br />
<b> </b><br />
<b></b><br />
<br />
<b>(FRIDAY'S CLOSING INDEX NUMBERS)</b> <br />
Dow Jones 11,092.00 <span style="color: red;">-95.28 (-0.85%)</span><br />
S&P 500 1,189.40 <span style="color: red;">-8.95 (-0.75%)</span><br />
Nasdaq 2,534.56 <span style="color: red;">-8.56 (-0.34%)</span><br />
<br />
<br />
<i><b>Dow Jones 1:00 PM CLOSING AVERAGES 11/26/10: DJIA 11,089.35 DN 97.93</b></i><br />
30 INDUS 11,089.35 DN 97.93 OR 0.88%<br />
20 TRANSP 4,879.92 DN 31.46 OR 0.64%<br />
15 UTILS 392.56 DN 2.69 OR 0.68%<br />
65 STOCKS 3,868.69 DN 29.52 OR 0.76%</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<i><b>US COMMODITY PRICES: (NOV. 26, 1:00 PM EST)</b></i><br />
Crude Oil 83.81 - 0.44%<br />
Natural Gas 4.39 - 0.16%<br />
Gasoline 2.21 -<br />
Heating Oil 2.32 - 0.41%<br />
Gold 1359.68 - 1.10%<br />
Silver 26.81 - 2.76%<br />
Copper 3.75 - 0.27%<br />
<br />
<i><b>US DOLLAR FUTURES INDEX DXY: NOV. 26, 1:07PM EST: 80.35 <span style="color: #38761d;">Up 0.48 (0.60%)</span></b></i></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;"></span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. Stocks Down - Dollar Edges Up </span><br />
<b>Friday:</b> U.S. Stocks finished the week lower Friday during a shortened trading session amid lingering uncertainty surrounding Europe's debt worries and warnings and military attacks from North Korea.<br />
<br />
The Dow Jones Industrial Average was down more than 90 points, led by American Express (AXP 42.41 -0.59 -1.37%), JPMorgan (JPM 37.59 -0.57 -1.49%) and Chevron (CVX 82.11 -0.82 -0.99%). Cisco (CSCO 19.54 +0.08 +0.41%) was among the only gainers on the blue-chip index. The S&P 500 and the tech-heavy Nasdaq were also lower. The CBOE Volatility Index, widely considered the best gauge of fear in the market, was trading at 22.22 at the close. All key S&P sectors were under pressure, led by materials, energy and financials.<br />
<br />
Volume was extremely light as U.S. stock markets close at 1:00 pm EST following the Thanksgiving holiday. <br />
<br />
At Mid-day we saw extremely low volume combined with a volatility index (VIX) reading of 20.88, combined with a higher dollar leads to a lower outlook for today's early close.<br />
<br />
Stocks opened sharply lower in a holiday abbreviated session. The Dow Jones Industrial Average dropped 73 points, or 0.7%, to 11113, in recent trading. <br />
<br />
The dollar rose sharply against most of its rivals Friday. Emerging-market stocks fell, sending the benchmark index toward its third weekly drop, as worries intensify over European sovereign debt while investors await early results from retailers on Black Friday sales. The DJIA was down 110 points at the market open, with Cisco the only component showing gains.<b> </b><br />
<br />
<b>Thursday: U.S. Market Closed for holiday. </b><br />
<br />
<b>Wednesday's</b> the Dow gained more than 150 points in afternoon trading, the S&P gained 16, and Nasdaq moved up more than 46 points in choppy low volume trading as the dollar released its gaining move before the open, and closed higher in the late afternoon.<br />
<br />
The Dow rallied 150 points today to close at 11187, the S&P gained 17 points to 1198, and the Nasdaq surged 48 points to end at 2543.<br />
<br />
The dollar trades higher versus most major rivals, with the euro under pressure as euro-zone debt turmoil continues.<br />
<br />
U.S. stocks advanced Wednesday on an improving domestic economic picture, erasing some of Tuesday's sharp declines in quiet trading ahead of the Thanksgiving holiday. <br />
<br />
The Dow Jones Industrial Average increased 84 points, or 0.8%, to 11120 in early trading, while the Standard & Poor's 500-stock index gained 9 points to 1190 and the Nasdaq Composite added 30 points to 2525. <br />
<br />
The Reuters/University of Michigan consumer sentiment index's rose to 71.6 in November, up from 67.7 last month, topping expectations. The number of U.S. workers filing new claims for jobless benefits fell by more than expected last week to the lowest level since July 2008. Initial unemployment claims tumbled by 34,000 to 407,000, exceeding expectations of a drop of 4,000. <br />
<br />
Americans' personal income grew at a faster pace than they have for much of the year, growing 0.5% after remaining flat last month. Consumer spending expanded by 0.4% heading into the holiday season. <br />
<br />
Weighing on the downside, orders for durable goods marked the sharpest drop in almost two years, falling 3.3% for its second decline in three months. <br />
<br />
Wednesday's U.S. Futures market was up, and the dollar edged lower . S&P 500 futures rose 0.4 percent, pointing to a possible bounce in U.S. markets later in the day.The US Dollar corrected lower in Asian trade as risky assets retraced recent losses, with stock index futures pointing to more of the same in European hours. $EURUSD pair continues its southern journey despite the better than expected German IFO readings, European stocks have pared their gains too.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA BUYING UP U.S. ENERGY ASSETS </span><br />
China Huaneng Group, that nation's largest power generator by capacity, has agreed to buy India's GMR Infrastructure Ltd.'s (532754.BY) 50% stake in InterGen NV, a Massachusetts-based power-generation company, for about $1.2 billion. China Huaneng, as part of the deal, also would assume some $2 billion in debt. A deal could be announced as soon as Monday. <br />
<br />
The Ontario Teachers' Pension Plan owns the other half of InterGen. China Huaneng is considering purchasing Ontario Teachers' stake as well, although no agreement has been struck. <br />
<br />
Read the entire news story at: <a href="http://www.bloomberg.com/news/2010-08-17/china-huaneng-said-to-be-in-talks-to-buy-50-of-intergen-for-1-2-billion.html">http://www.bloomberg.com/news/2010-08-17/china-huaneng-said-to-be-in-talks-to-buy-50-of-intergen-for-1-2-billion.html</a><br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">HEDGE FUND UNDER ATTACK</span><br />
<i><b>Investors Look To Pull $3 BILLION From FrontPoint Hedge Fund</b></i><br />
FrontPoint, one of the hedge funds caught up in the recent flurry of insider trading investigations, is facing $3 billion in investor redemption, according to the Financial Times, citing people familiar with the matter. <br />
<br />
The fund, which has $7 billion in assets, had already been reported to be shutting down its healthcare fund amid news a doctor was accused of giving it insider information. <br />
<br />
A FrontPoint spokesman declined to comment to Dow Jones on any redemptions. Morgan Stanley (MS), which owns the fund and had announced plans to sell its stake to FrontPoint's partners before the investigation, also declined to comment, deferring to FrontPoint.<br />
<br />
<b><i>Read the entire article at the Financial Times, FT.com</i></b><br />
<a href="http://www.ft.com/cms/s/0/266d513c-f8d7-11df-b550-00144feab49a.html#axzz16P41Jh00">http://www.ft.com/cms/s/0/266d513c-f8d7-11df-b550-00144feab49a.html#axzz16P41Jh00</a><br />
<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">KANSAS MANUFACTURING INDEX UP</span> <br />
<i><b>Kansas City Fed Nov Manufacturing Index Rose To 21</b></i><br />
<br />
Manufacturing activity in the Federal Reserve Bank of Kansas City's district surged in November as did employee levels, according to a report released by the bank Wednesday. The report noted sharp production rises in machinery, high-tech, printing and transportation equipment, partly due to higher export orders. <br />
<br />
The Kansas City Fed's manufacturing production index, in a month-over-month comparison, more than doubled to 21 this month from 10 in October. From a year ago, the production index rose to 27 from 7.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NEW HOME SALES FALL</span></div><i><b>New Home Sales -8.1% To 283K; Consensus 314K</b></i><br />
<br />
New home sales plunged in October as the U.S. housing market continued to struggle absent government incentives to spur deals. <br />
<br />
Sales of new homes in the U.S. slid 8.1% to a seasonally adjusted annual pace of 283,000, the Commerce Department said Wednesday. The fall was the fourth in six months. October's new home sales figure is down 28.5% from a year earlier. <br />
<br />
High unemployment, tight credit and uncertainty regarding the direction of home prices are keeping buyers at bay. New home sales fell across much of the country in October. The South, however, posted a 3.1% increase in new home sales. New home sales fell 12.1% in the Northeast, 20.4% in the Midwest and 23.9% in the West. <br />
<br />
In October, the median sale price for a new home fell 9.4% on a year-over-year basis to $194,900, just $800 higher than it was in October 2003. <br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WEEKLY JOBLESS CLAIMS DECLINE</span><br />
<i><b>407,000 MORE JOBLESS AMERICAN'S</b></i><br />
<i><b>U.S. Jobless Claims Decline to 407,000, Lowest Since July 2008.</b></i><br />
<br />
New U.S. claims for unemployment benefits dipped more than expected last week, a government report showed on Wednesday, signaling some minor improvement for the struggling U.S. employment seekers. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US DURABLE GOODS ORDERS DECLINE</span><br />
<i><b>Orders for U.S. Durable Goods Unexpectedly Dropped in October</b></i><br />
Orders for U.S. goods meant to last several years unexpectedly decreased in October, raising the risk that companies will scale back on investments in new equipment. <br />
<br />
<br />
<b>Tuesday</b>, the dollar edges up overnight. The euro tumbled, recently trading down 1.5% to $1.3406.<br />
<br />
Tuesday, the Dow closed down 142 pts to 11036, the S&P shed 17 pts to 1180, and the Nasdaq fell 37 pts to 2494. <br />
<br />
The gains in the dollar lifted the U.S. Dollar Index, which tracks the U.S. currency against a basket of six others, up 1.2%. Dollar Index pushes to fresh session high (UUP) The dollar provided solid performance in overnight trade has been extended this afternoon. The Dollar Index has pushed as high as 79.35 in recent trade leaving it slightly under the Nov peak set last week at 79.46. <br />
<br />
Tuesday afternoon U.S. stocks continue to see substantial weakness in equities and commodities trading, as the markets are now reacting to the FOMC's comments by adding to earlier losses after the Federal Reserve downgrades its U.S. economic projections, citing worse-than-expected growth.awaiting the latest minutes from the US Federal Reserve.<br />
<br />
US Stocks fell broadly in all sectors, led by energy and materials sectors. The Nasdaq Composite fell 1.7% to 2488, but the Standard & Poor's 500-stock index shed 1.6% to 1179, with all its sectors in the red. The energy and materials sectors led the declines. The Dow Jones Industrial Average dropped 171 points, or 1.5%, to 11008, putting the market on track for its third drop in the last four sessions. The Dow's energy components led its drop as crude-oil futures fell below $81 a barrel. Chevron dropped 2.6% and Exxon Mobil fell 2.5%. <br />
<br />
<br />
At Tuesday's market open the Dow Jones Industrial Average dropped 120 points, or 1.1%, to 11056. Exxon Mobil led the broad decline with a 2.2% drop. Alcoa fell 2.1% and Travelers declined 1.7% amid the broad decline.<br />
<br />
The CBOE Market Volatility Index, (VIX), is up 2.41, or 16%, to 20.81 in recent activity. It was the measure's biggest single-day jump since late August. The VIX, also dubbed the "fear index," tracks prices of protective options on the S&P 500 index. <br />
<br />
Geopolitical risk was a main driver behind Tuesday morning's market moves. North Korea fired artillery rockets at a South Korean island near a disputed western maritime border Tuesday, in a clash that killed two South Korean marines and set numerous buildings on fire. South Korean forces then fired back. <br />
<br />
In addition to the deaths, at least 16 more were injured, military officials said. Three civilians were injured, and the island's 1,200 residents were sent scrambling for bomb shelters. <br />
<br />
The clash also pushed down stocks in Asia and Europe and supported the dollar.<br />
<br />
The inverse correlation between stocks and the dollar has been evident since summer's end. The negative correlation between stocks and the U.S. dollar has been increasingly apparent throughout the last few months. What we are watching is the sign of a negative par value of U.S. equities and commodities to the dollar in a depression trend. The equities no longer have momentum to overcome dollar divergence. <u><i>This is a strong cautionary trend indicator.</i></u></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Gross domestic product rose 2.5% in July through September, the Commerce Department reported, which is up from its initial estimate of 2.0% growth in the third quarter.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Fed Downgrades US Economic Projections</span><br />
<i>In a statement from the Federal Reserve issued today, several Fed officials saw a risk if inflation from the Q2 bond buying program and expressed concern that bond buying could put unwanted pressure on the U.S. Dollar. Minutes of the Fed's latest policy-setting meeting Nov. 2-3 show officials expect the economy to grow at a moderate pace next year, with unemployment staying disappointingly high.</i><br />
<br />
Federal Reserve officials downgraded their assessment of the U.S. economy at their last meeting three weeks ago as they debated the benefits and costs of a new bold step to support the recovery. <br />
<br />
Minutes of the Fed's latest policy-setting meeting released Tuesday, showed officials expect the economy to contract at a moderate pace next year, with unemployment staying disappointingly high and inflation growing in both food and fuels, but the official statement was uncomfortably low for manufactured goods. <br />
<br />
U.S. gross domestic product, the broadest measure of economic activity, is projected to rise at an annual rate adjusted rate of between 3.0% and 3.6% in 2011 after growing by an adjusted rate of around 2.5% this year. That compares with a previous June forecast that GDP would increase between 3.5% and 4.2% next year.<br />
<br />
several Fed officials believed unemployment was more likely to rise than fall if the economy continues to grow so softly. "Participants agreed that progress in reducing unemployment was disappointing," the minutes showed. <br />
<br />
The slow recovery should keep the "official" unemployment rate, currently at 9.6%, around 9.0% at the end of next year as extended benefits and longer term unemployed drop off the "official" stated figures, Fed officials predicted. In June, they had forecast the jobless rate would be around 8.5% in the last three months of 2011.The more accurate rate of un-employed American's stands at more than 30% percent. Similar to 1929 levels.<br />
<br />
The upper range of the longer-run jobless rate was increased to 6.0% from 5.3%, indicating that even Fed officials believe the recession has caused some permanent damage to the labor market. <br />
<br />
The weak economy is expected to keep inflation below the central bank's informal target of just under 2.0% for manufactured goods all the way through 2013. <br />
<br />
Low prices and a stubbornly high jobless rate led Fed officials this month to resume a bond purchase program that was used to combat the financial crisis. The step was attacked by Republican lawmakers and foreign government officials, who said it could hurt the U.S. dollar and bring high inflation. <br />
<br />
The minutes showed that, even though Fed officials voted with an overwhelming 10-1 majority to support the move, several worried about its consequences. <br />
<br />
<b><i>====MONDAY</i></b> <br />
Monday, U.S. Stocks were mostly lower in mixed choppy trading, as the dollar gained over Friday's close, affecting commodities and energy sectors. Equities also play lower as mixed earning reports came out.<br />
<br />
The Nasdaq Composite was mainly in positive territory Monday, while the blue-chip Dow Jones Industrial Average has traded in the red. The day ended with the Dow closing down 24 pts today to 11178, the S&P fell 1 pt to 1197, while the Nasdaq gained 13 pts to 2532. <br />
<br />
In early trading, US stocks erased earlier gains and were trading mixed on Monday morning. Futures on the Dow Jones Industrial Average dropped 10 points to 11169. The VIX Volatility Index was up 1.92 to 19.95.<br />
<br />
The Dow Jones Industrial Average dropped 74 points, or 0.7%, to 11129, the Nasdaq Composite slipped 0.1% to 2516, the Standard & Poor's 500 index shed 0.6% to 1193. <br />
<br />
The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, edged up 0.1%. The euro erased its gains, trading at $1.3638 recently. Crude-oil futures slipped while gold futures edged higher. <br />
<br />
Monday's Futures are pointing toward a weak start to the regular session of trading. European debt concerns remain the financial media's main reason while the dollar surges. Some on Wall Street believe that a bailout of Ireland will not be enough to stabilize the region. Moody's Investors Service said that a "multi-notch downgrade" of Ireland's Aa2 rating is now the "most likely" outcome of its credit review. Technically, the DJIA should find support near 11,100, with resistance holding in the 11,200-11,250 area. The SPX, should trade between the 1,200 and 1,190 areas today.<br />
<br />
In overnight trading stock futures were up before the bell in Asia, as well as, commodities as the dollar edged down below Friday's close.<br />
<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">Equities: </span><br />
<br />
<b>Thursday:</b><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Del Monte Foods Buyout Deal Firmed</span><br />
<i><b>KKR leads $5 Billion deal to acquire San Francisco-based Del Monte Foods</b></i><br />
A buy-out group led by Kohlberg Kravis Roberts has agreed to acquire Del Monte Foods for $19 a share, in a deal which values the US food and pet products company at about $5billion.<br />
<br />
The deal is one of the biggest leveraged buy-outs this year and underlines the resurgence of <br />
“take-private” deals in the US in the consumer products sector.<br />
<br />
<i>Read the entire article at the Financial Times, FT.com</i><br />
<a href="http://www.ft.com/cms/s/0/d5fe994e-f8c8-11df-b550-00144feab49a.html?ftcamp=rss">http://www.ft.com/cms/s/0/d5fe994e-f8c8-11df-b550-00144feab49a.html?ftcamp=rss</a><br />
<br />
<b>Wednesday:</b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Ford Motor reduces its automotive debt by more than $1.9 billion as part of a debt-for-stock conversion offer, a move designed to speed the auto maker's return to investment-grade status.<br />
Jewelry retailer Tiffany jumped 4.2% after reporting a 27% increase in earnings, topping expectations and offering an encouraging signal ahead of the holiday sales period. <br />
<br />
Shares of Deere gained 0.6% after the machinery maker beat earnings estimates but painted a gloomier than expected short-term outlook. <br />
<br />
Oracle jumped 2% after a jury ruled that German software group SAP must pay Oracle $1.3 billion because of intellectual-property theft. SAP was off 1.5%.<br />
<br />
Deere & Co (DE.N) the Illinois-based company, reported a stronger-than-expected quarterly profit on Wednesday as sales of its tractors and harvesters in North America and other markets offset continued poor demand in Europe.The company reported that sales rose 35% percent to $7.2 billion and a fiscal fourth-quarter profit of $457.2 million, or $1.07 a share, compared with a net loss of $222.8 million, or 53 cents a share, a year earlier.<br />
<br />
The world's largest maker of farm equipment offered a cautious preliminary forecast for 2011 with a projected profit of $2.1 billion. That fell short of Wall Street's forecasts, sending its shares lower in pre-market trading.<br />
<br />
<br />
Ford Motor Company (NYSE: F) will release its November US sales results at approximately noon ET.<br />
<br />
<b>Tuesday</b>, Campbell Soup Co.'s earnings dropped 8.2% as increased promotional efforts failed to stoke soup sales.<br />
<br />
Among stocks in focus, J. Crew jumped 16% as the clothing retailer confirmed plans to be taken private for $3 billion by private-equity firms TPG Capital and Leonard Green & Partners.<br />
<br />
A federal jury in Oakland delivers the judgment against German business software maker SAP in a case that began in 2007. Oracle Corp. won a $1.3-billion verdict Tuesday in a lawsuit in which it alleged that German business software maker SAP infringed on the copyright of the Redwood Shores, Calif., company.<br />
<br />
The verdict in the high-profile federal court case is one of the largest ever for copyright infringement. The eight-person jury in Oakland awarded the damages one day after the companies presented closing arguments.<br />
US banking industry profits jumped again in the third quarter, as banks saw stronger revenue and <u>set aside fewer reserves</u>.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<br />
<b>Tuesday</b>, IMAX signed a major theatre deal with ODEON & UCI Cinemas Group; introduces joint venture business in Spain and Italy (IMAX) 24.66 -0.59 : Co and ODEON & UCI Cinemas Group, announced an agreement to install two new digital IMAX theatre systems under joint venture agreements in Mallorca and Milan, marking IMAX's first JV theatres in Spain and Italy. The Spanish location will open under the Cinesa brand in Mallorca. The location in Italy will operate under the UCI brand in Milan. Both locations are scheduled to open on May 20th, 2011.<br />
<br />
Actively Traded Leading Global, Regional, & Domestic Sector & Commodity ETFs:<br />
CBOE VIX- VXX +5.5%, VXZ +2.75%, US Dollar- UUP +1.25%, grains & feed- JJG +1.0%, long-term US treasuries- TLT +0.75%, TLH +0.50%, TIP +0.25%, gold- GLD +0.75%, IAU +0.75%, Yen currency shares- FXY +0.50%.<br />
<br />
Actively Traded Lagging Global, Regional, & Domestic Sector & Commodity ETFs:<br />
cotton- BAL -8.75%, iShares S Korea- EWY -5.5%, Turkey- TUR -5.25%, iShares Singapore- EWS -4.25%, iShares Spain- EWP -4.25%, iShares France- EWQ -4.0%, iShares Netherlands- EWN -4.0%, rare earth metals- REMX -3.5%, iShares Austria- EWO -3.75%, iShares Australia- EWA -3.75%, iShares Germany- EWG -3.5%, iShares Asia Pacific ex- Japan- EPP -3.5%, iShares Italy- EWI -3.5%. <br />
<br />
In Tuesday's trading, financial components led the decline, with Bank of America off 2.3% while J.P. Morgan Chase fell 2.4%. Monday, Green Mountain Coffee Roasters surged 14% after the specialty roaster announced plans to restate its financial statements for the past three fiscal years.Tyson Foods rose 3.2% after the meat processor rebounded from a prior-year loss. Exxon Sells Gulf of Mexico Stakes for $1.01 Billion - Bermuda-based Energy XXI Ltd. said it has acquired nine US Gulf of Mexico oil and natural-gas stakes from Exxon Mobil . Shares of Methanex Corporation (NASDAQ:MEOH) booked a new 52 week high today. <br />
<br />
Novell to Be Bought by Attachmate for $2.2 Billion<br />
Novell Inc., the maker of Linux operating-system software, agreed to be bought by Attachmate Corp.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">JUDGE OKS WIRETAPS IN GALLEON CASE</span><br />
Wednesday, Federal prosecutors can use thousands of secretly recorded telephone conversations of Galleon Group founder Raj Rajaratnam in a long-running insider-trading probe, a federal judge rules.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">INSIDER TRADING INVESTIGATION GRIPS HIGH TECH</span><br />
Tech firms Sierra Wireless(SWIR), Broadcom(BRCM) and Atheros Communications(ATHR) have all been mentioned in a complaint filed by the government as part of its recent insider trading sweep. The U.S. Attorney's office has already arrested "Don Chu," who worked at an "expert network" firm providing research and industry expertise to hedge funds, for alleged insider trading. The complaint mentions an unnamed Sierra Wireless employee as one of Chu's contacts. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">EXECUTIVE CHARGED IN INSIDER TRADING CASE </span><br />
Wednesday, the first arrest for insider trading was an East Coast employee of a California research consulting firm is accused of hooking up hedge fund operators with corporate executives who provided inside information to company moves before they were published. Federal agents arrested Don Ching Trang Chu, an executive at a California "expert network" firm in connection with a sweeping three-year investigation of insider trading on Wall Street.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">GOLDMAN SACHS PART OF INSIDER TRADING RING</span><br />
Tuesday, At least one Goldman Sachs Group Inc. (GS) banker from the firm's health-care department is involved in the Federal Bureau of Investigation probe into insider trading on Wall Street, Fox Business Network's Charles Gasparino reported Tuesday, citing unidentified sources. The Wall Street Journal also reported Monday that Goldman Sachs is involved in aspects of the investigation into potential insider trading in the financial-services industry.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">INSIDER TRADE INVESTIGATION BROADENS</span> <br />
<i><b>Trading Inquiry Widens</b></i><br />
<br />
Tuesday, Federal authorities, intensifying an insider-trading investigation, are demanding trading and other information from some of the nation's most powerful investment firms.<br />
<br />
Hedge-fund giants SAC Capital Advisors and Citadel LLC, big mutual-fund company Janus Capital Group Inc. and Wellington Management Co., one of the nation's biggest institutional-investment firms, have received subpoenas from the Manhattan U.S. Attorney's office seeking trading, communications and other data as part of a broad criminal investigation, according to people familiar with the matter.<br />
<br />
The Federal Bureau of Investigation also recently questioned an account manager at Primary Global Research LLC, a California company that provides "expert-network" services to hedge funds and mutual funds, people familiar with the matter say.<br />
<br />
Read the entire article at the Wall Street Journal:<br />
<a href="http://online.wsj.com/article/SB10001424052748704369304575633063046187560.html">http://online.wsj.com/article/SB10001424052748704369304575633063046187560.html</a> <br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">FBI RAIDS HEDGE FUND OFFICES</span></div>U.S. stocks sank Monday as financials dropped after new details of a widespread insider-trading case emerged. The Wall Street Journal reported that Federal Bureau of Investigation agents raided the offices of three hedge funds, Diamondback Capital Management LLC, Level Global Investors LP and Loch Capital Management LLC, amid a far-reaching insider-trading investigation.<br />
<br />
Investors said they were bracing for financials to take a hit as more details of the investigation surface. "It is the brokerage and the investment bankers that are going to be the most likely targets of these investigations," said Robert Phipps, a director at Per Stirling Capital Management.<br />
<br />
The Financial Select Sector SPDR (NYSE: XLF) is down 1.92% to $14.57. Goldman Sachs (NYSE: GS) has fallen 3.80% to $160.41. J.P. Morgan (NYSE: JPM) is down 2.79% to $38.31. Bank of America (NYSE: BAC) has shed 3.52% to $11.25 and Citigroup (NYSE: C) is down 2.53% to $4.16. <br />
<br />
<br />
<i><b>Company's Posting Earnings:</b></i><br />
<br />
Investors will be looking for more data on business spending when Hewlett-Packard reports fiscal fourth-quarter results Monday.<br />
<br />
Among the Dow's 30 stocks, Intel and Hewlett-Packard are in the green. HP reports after the close today. Hewlett-Packard 4Q Americas Revenue Up 10% To $15.1B, Sees FY11 Adj EPS $5.16-Adj EPS $5.26 . <br />
<br />
Tyson Foods Inc. (TSN) reported fourth-quarter net income of $208 million, or 57 cents per share. <br />
<br />
Also reporting Monday is Brocade Communications Systems Inc. (BRCD), which makes switches and software used to connect corporate servers and data-storage systems and had predicted a strong finish to its fiscal year. <br />
<br />
Also reporting this week are Campbell Soup Co. (CPB), which last week cut expectations as soup sales have stayed weak in the U.S. despite its efforts to draw consumers with more promotions. Campbell will post results Tuesday, a day after meat processor Tyson Foods Inc. (TSN).J. Crew Group Inc. (JCG) and Guess? Inc. (GES) are among the retailers reporting fiscal third-quarter results next week. Both post results Tuesday.<br />
<br />
Jewelry retailers Tiffany & Co. (TIF) reports Wednesday, a day after Zale Corp. (ZLC), which has been struggling, and Kay parent Signet Jewelers Ltd. (SIG, SIG.LN).<br />
<br />
Wells Fargo & Co. (WFC) will pay $100 million to Citigroup Inc. (C) to settle a heated fight between two of the nation's biggest banks that began when Wells managed to sweep a stumbling Wachovia Corp. away from Citi's grasp at the very height of the 2008 banking crisis.<br />
<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: large;">Del Monte Takeover Talk</span><br />
Del Monte Foods Co. (DLM) shares hit an all-time high after the Financial Times reported the food company is in advanced takeover talks with private-equity firm KKR & Co. (KKR).<br />
<br />
<br />
<div style="font-family: Arial,Helvetica,sans-serif;"><i><span style="font-size: small;"><b>Economic News:</b></span></i></div><br />
Reports on regional manufacturing activity are expected Monday from the Chicago Fed, Tuesday from the Richmond Fed and Wednesday from the Kansas City Fed. <br />
<br />
The Financial Stability Oversight Council, created by the Dodd-Frank financial overhaul law, is scheduled to meet Tuesday. <br />
<br />
Details on existing-home sales will be released Tuesday, as is the September reading of the Case-Shiller home-price indexes, while new-home sales are due a day later.<br />
<br />
The government will issue its second estimate of third-quarter gross domestic product. Economists expect the figure to be revised to 2.4% growth from the first estimate of 2%.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US HOME SALES DECLINED FURTHER </span><br />
<i><b>US Home Sales Fall 2.2% In October </b></i><br />
<br />
Sales of previously occupied homes decreased by 2.2% to a seasonally adjusted annual rate of 4.43 million, the National Association of Realtors said Tuesday. <br />
<br />
The U.S. housing market is struggling to recover on its own without government assistance. A tax credit for first-time buyers propped up sales earlier in the year, but sales plunged after it ended, and home sales had their slowest summer in over a decade.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Sales of previously occupied homes are well below a year ago, when the government was still providing tax credits to boost sales. Resales in October were down 25.9% from a 5.98 million-unit annual pace in October 2009.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. COMMUNITY BANKS IN TROUBLE </span><br />
<i><b>Federal Reserve Files Enforcement Actions Against 4 Small Banks</b></i><br />
<br />
The U.S. Federal Reserve said Tuesday that it has filed enforcement actions against banks in Missouri, Mississippi, California and Washington. <br />
<br />
The banks are: America's Community Bank in Blue Springs, Mo.; Cadence Financial Corp. (CADE) in Starkville, Miss.; Orient Bancorporation and Bank of the Orient in San Francisco, Calif., and Viking Financial Services Corp. in Seattle, Wash. <br />
<br />
The FDIC is ordering the banks to strengthen their capital positions and submit acceptable progress plans, and restricting them from paying dividends without prior written approval from regulators. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US 3Q GDP GROWTH REVISED UP TO 2.5%</span><br />
The U.S. economy expands at a slightly faster pace than previously thought and corporate profits rise, but growth is still too weak to cut high unemployment. Economists were expecting revised GDP growth of 2.4% in the quarter.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">RICHMOND FED MANUFACTURING INDEX RISES</span><br />
Economic activity among manufacturers in the central Atlantic region expands further in November with a solid gain in jobs, according to the Federal Reserve Bank of Richmond, whose manufacturing general-business index rises to 9 from 5 in October. <br />
<br />
<br />
<b>U.S. Market Note:</b><br />
<u><i>U.S. Markets will close Thursday for the Thanksgiving holiday.</i></u><br />
<br />
<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">CRUDE OIL:</span><br />
<i><b>U.S. Crude Oil: $83.81 per </b></i><i><b>barrel</b></i><br />
<i><b>FRIDAY OIL FUTURES: Nymex Crude Closes 11c Lower At $83.75/Bbl </b></i><br />
<br />
<i><b>WEDNESDAY OIL FUTURES: Crude Settles $2.61 Higher At $83.86/Bbl<br />
</b></i><br />
<br />
<i><b>DOE: US Crude Oil Stocks +1.029M Bbl In Wk; Seen -1.9M Bbl</b></i><br />
<i>US Refineries Ran At 85.5%; Seen 84.40%</i><br />
<i>US Distillate Stocks -0.541 Mln Bbl At 158.251 Mln Bbl</i><br />
<i>US Distillate Stocks -0.541M Bbl In Wk; Seen -1.5M Bbl</i><br />
<i> US Gasoline Stocks +1.913 Mln Bbl At 209.592 Mln Bbl</i><br />
US Gasoline Stocks +1.913M Bbl In Wk; Seen -0.9M Bbl<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>Wednesday</b>, the Department of Energy reported U.S. crude inventories rose 1.029 million barrels. Gasoline stockpiles posted a large rise, of 1.913 million barrels, to 209.6 million barrels, compared with an expected decline, the department's Energy Information Administration said in its weekly report. <br />
<br />
Distillate stocks, which include heating oil and diesel fuel, fell 0.541 million barrels to 158.3 million barrels, compared with analysts' forecast of a drop of 1.5 million barrels. Refining capacity utilization rose 1.5 percentage points to 85.5%. Analysts had expected a 0.4 percentage point rise. <br />
<br />
Wednesday, crude futures aimed higher following improving data on employment and consumer spending, as traders await a weekly report on U.S. oil and fuel inventories. <br />
<br />
Tuesday, light, sweet crude for January delivery recently traded 44 cents, or 0.5%, higher at $81.69 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 39 cents higher at $83.64 a barrel.<br />
<br />
Tuesday, crude declined as the dollar gained in overnight trades, and as tensions on the Korean peninsula and worries about European sovereign debt weighed on markets., <br />
<br />
Light, sweet crude for January delivery recently traded $1.01, or 1.2%, lower at $80.73 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded $1.16 lower at $82.80 a barrel.<br />
<br />
<b>Tuesday</b>, Light, sweet crude for January delivery recently traded 62 cents, or 0.8%, lower at $81.12 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 81 cents lower at $83.15 a barrel. <br />
<br />
<i></i><br />
<b>Monday</b>, Light, sweet crude for January delivery settled down 24 cents, or 0.3%, at $81.74 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange recently lost 54 cents, or 0.6%, at $83.80 a barrel.<br />
<br />
The American Petroleum Institute said Monday U.S. retail gasoline prices should begin to soften leading into the December holiday season as crude prices decline. Retail gasoline prices have risen in recent weeks, threatening to eat a larger portion of consumers' budget ahead of the key holiday shopping season. <br />
<br />
December RBOB fell 4.41 cents, or 2%, to settle at $2.1519 a gallon. December heating oil lost 0.58 cent, or 0.3%, to $2.2686 a gallon.<br />
In early trading, light, sweet crude for January delivery was down 81 cents, or 1%, at $81.17 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange fell 80 cents, or 1%, at $83.54 a barrel.<br />
<br />
Front-month December reformulated gasoline blendstock, or RBOB, recently fell 5.29 cents, or 2.4%, at $2.1431 a gallon. December heating oil traded down 1.87 cents, or 0.8%, at $2.2557 a gallon.<br />
<br />
<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">NATURAL GAS:</span><br />
<i><b>Natural Gas: $ 4.43</b></i><br />
<b>FRIDAY US GAS: Futures Close Up 0.3% at $4.403/MMBtu</b><br />
<br />
<i><b>WEDNESDAY US GAS: Futures Close Down 0.3% At $4.253/MMBtu </b></i><br />
<i><b>TUESDAY US GAS: Futures Close Down 0.2% At $4.261/MMBtu </b></i><br />
<br />
Tuesday morning Natural gas futures tick to their lowest levels of the morning at $4.151, giving up almost all of yesterday's rally; now off 11 cents to $4.161. <br />
<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">PRECIOUS METALS:</span><br />
<i><b>Gold: $ 1,363</b></i><br />
<i><b>Silver:$ 26.74</b></i><br />
<br />
<b>Wednesday</b>, Engelhard Corp's base price for industrial gold bullion was $1375.48 per troy ounce, down $5.01 from previous. It's selling price for gold in fabricated form was $1478.64, down $5.39.<br />
<br />
Handy & Harman's base price for gold was $1372.50 per troy ounce, down $5.00. The fabricated form price was $1482.30, down $5.40. <br />
<br />
<b>Tuesday</b>, Comex gold futures extended early morning gains as rising global political and macroeconomic concerns boosted investor appetite for the safe harbor asset.<br />
<br />
Tuesday's most actively traded contract, for December delivery, settled up 1.5%, or $19.80, at $1,377.60 per troy ounce on the Comex division of the New York Mercantile Exchange. <br />
<br />
Platinum for January delivery, the most actively traded contract, settled up 0.1%, or $2.20, at $1,657.70 per troy ounce on the Nymex. <br />
<br />
Palladium for December delivery, the most actively traded contract, settled up 0.9%, or 64 cents, at $691.10 per troy ounce on the Nymex.<br />
<br />
Engelhard Corp's base price for industrial gold bullion was $1380.49 per troy ounce, up $21.03 from previous. It's selling price for gold in fabricated form was $1484.03, up $22.61.<br />
<br />
Handy & Harman's base price for gold was $1377.50 per troy ounce,<br />
up $21.00. The fabricated form price was $1487.70, up $22.68.<br />
<br />
<br />
<br />
<b>Monday</b>, the most actively traded gold contract, for December delivery, was recently unchanged at $1,352.30 an ounce on the Comex division of the New York Mercantile Exchange.<br />
<br />
Engelhard Corp's base price for industrial gold bullion was $1359.46 per troy ounce, up $14.03 from previous. It's selling price for gold in fabricated form was $1461.42, up $15.08.<br />
<br />
Handy & Harman's base price for gold was $1356.50 per troy ounce, up $14.00. The fabricated form price was $1465.02, up $15.12. <br />
<br />
Copper is also trading lower at $3.75. The most actively traded contract, for December delivery, was recently down 1.7%, or 6.5 cents, at $3.7685 per pound on the Comex division of the New York Mercantile Exchange.<br />
<br />
<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS:</span><br />
Treasurys edged higher Tuesday, pushing the yield on the 10-year note down to 2.81%. In recent trade, the 10-year note was up 14/32 to yield 2.824% and the 30-year was 31/32 higher to yield 4.190%. Shorter-maturity Treasurys were lagging ahead of a healthy dose of supply this week.<br />
<br />
The U.S.government is set to sell $99 billion in short-term Treasurys this week. Auctions kick off Monday afternoon with a sale of $35 billion in two-year Treasurys. <br />
<br />
At market open, we saw a mixed response, with lower demand for the two-year note lifting its yield to 0.51%. There was higher demand for the 10-year note which pushed its yield down to 2.83%. The Fed bought $8.257 billion Treasurys in its first of two Treasury buying operations in the holiday shortened week. <br />
<br />
3 Month 0.13% 0.00 (0.00%)<br />
6 Month 0.19% 0.00 (0.00%)<br />
2 Year 0.53% +0.02 (3.92%)<br />
5 Year 1.50% +0.02 (1.35%)<br />
10 Year 2.87% +0.01 (0.35%)<br />
30 Year 4.22% 0.00 (0.00%) <br />
<br />
<br />
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____________________________________________________________<br />
<div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><br />
<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">STOCKS DOWN IN TORONTO</span></div></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>Friday: </b>Toronto stocks closed lower, lead by materials and energy sectors. At Mid-day Friday, the S&P/TSX Composite Index was down 42.85 points, or 0.3%, at 12902.96. Declines led advances 769 to 592. Trading volume was 183.6 million shares. The S&P/TSX 60 Index was down 2.34 points, or 0.3%, to 739.12.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canada Budget Deficit Declines To C$3.9B</span></div>The Canadian government's budget deficit narrowed to C$3.9 billion in September from a C$5 billion deficit in the same month last year, the federal finance department said on its website Friday. <br />
<br />
Overall revenue rose 13.1% to C$17.3 billion in September, reflecting growth in most revenue streams, including a 3.5% increase in personal income tax revenue and a 60.5% jump in corporate income tax revenue. <br />
<br />
In September, program spending rose 3.1% to C$18.6 billion on higher transfer payments and higher spending on other programs.<br />
<b><i>Website:</i></b> <a href="http://www.fin.gc.ca/">http://www.fin.gc.ca </a><b><br />
</b><br />
<br />
<b>Wednesday:</b> Toronto stocks were higher Wednesday, with financials, energy, industrials stocks higher as the U.S. dollar relaxed its drive up. At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was up 72.40 points, or 0.57%, at 12866.15. Advances led declines 806 to 610. Trading volume was 194.40 million shares. The S&P/TSX 60 Index was up 4.73 points, or 0.65%, at 736.81.<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Mape Leaf Foods was down C$1.27 to C$11.42 on news that Ontario Teachers' Pension Plan is selling its entire 25% stake in Maple Leaf stake at C$10.50 a share, a 17% discount to Maple Leaf's trading price of C$12.69 before being halted late Tuesday. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>Tuesday</b>, at 11:45 a.m. EST (1645 GMT), the TSX was down 133.44 points, or 1.03%, at 12795.57. Declines led advances 972 to 437. Trading volume was 216.20 million shares.The S&P/TSX 60 Index was down 8.32 points, or 1.12%, at 732.29.<br />
<br />
<b>Monday</b>, Toronto stocks ended slightly lower Monday, with gains in the materials group offset by declines in the financial services and energy groups. The S&P/TSX Composite Index fell 27.32 points, or 0.21%, to 12929.01. Declines led advances 822 to 814. Trading volume was 471.80 million shares, up from Friday's total of 429.40 million shares. The S&P/TSX 60 Index closed down 2.61, or 0.35%, to 740.61 points.<br />
<br />
Following European and US market action most of Toronto's stocks declined in early trading, led by energies, base and precious metals as the US dollar advanced.The stock market was lower at midday, weighed down by declines in the energy and materials sectors. <br />
<br />
Potash One was up 89 Canadian cents to C$4.51 after Germany's K+S AG offered C$4.50 a share for the company. The deal is worth about C$434 million and represents a 24.3% premium to Potash One's Nov. 19 closing price. <br />
<br />
At 11:45 a.m. EST, the S&P/TSX Composite Index was down 59.63 points, or 0.46%, at 12896.70. Declines led advances 756 to 636. Trading volume was 215.70 million shares. The S&P/TSX 60 Index was down 4.16 points, or 0.56%, at 739.06. .<br />
<br />
Canadian Overseas Petroleum Limited ("COPL") (TSX-V: XOP), has set the price for its public offering at $0.50 per share.<br />
<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">Rusoro Exports First Gold Shipment</span><br />
Rusoro Mining Ltd.(CA:RML 0.28) Rusoro reported that the Company's first offshore gold sale has been completed. The Company delivered 4,924.2 ounces of gold to Switzerland for its gold buyer on November 17, 2010 at a spot gold sale price of US$ 1342.5 per ounce less associated costs and commissions.<br />
<br />
Rusoro's first gold export in accordance with the Central Bank of Venezuela ("CBV") permit which became effective on November 1, 2010, authorized the sale of approximately 50% of the gold produced from the Choco 10 and Isidora mines from August 11, 2010 through September 30, 2010.<br />
<br />
<br />
<b>Toronto Indexes, Volume; 1 PM EST Composite Down 41.74</b><br />
<br />
S&P/TSX Composite 12904.07 off 41.74 or 0.3%<br />
S&P/TSX 60 Index 738.96 off 2.50 or 0.3%<br />
Financials 181.66 off 0.22 or 0.1%<br />
Materials 418.32 off 2.91 or 0.7%<br />
Energy 297.41 off 1.73 or 0.6%<br />
Industrials 106.97 up 0.00 or 0.0%<br />
IT 29.99 off 0.04 or 0.1%<br />
<br />
Volume Friday Thursday<br />
12-1 81.2M 32.9M<br />
9:30-1 275.5M 158.6M<br />
<br />
<br />
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<div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: x-large;">South American Markets:</span></div><br />
<span style="font-size: x-large;">BRAZIL:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Close Higher Wednesday</span><br />
Brazilian blue-chip shares rebounded Wednesday to close higher. The benchmark Ibovespa stocks index closed 2.5% higher at 69,629 points, up from Tuesday's close at 67,953 points. Trading volume of 6.72 billion Brazilian reals ($3.9 billion), with the U.S. <br />
<br />
Thanksgiving holiday Thursday expected to reduce volume through the end of the week.<br />
<br />
Investors reacted positively to president-elect Dilma Rousseff's choices for her economic team, which is expected to maintain the successful policies of outgoing President Luiz Inacio Lula da Silva's administration. <br />
<br />
Finance Minister Guido Mantega will remain in his post, while longtime central bank employee Alexandre Tombini will take over as bank president from Henrique Meirelles. In a statement, Rousseff pledged to maintain the foundations of economic policy that have allowed the country to achieve a stable economy and sustained growth over the past decade.<br />
<br />
Shares of mining giant Vale SA (VALE, VALE5.BR) closed 2.7% higher at BRL49.50. State-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, climbed 2.4% to BRL25.24. Independent driller OGX Petroleo e Participacoes (OGXP3.BR) advanced 1.0% to BRL20.96. OGX said earlier that it had discovered natural gas at an onshore field in the Maranhao Basin. A well at the field was estimated after testing to produce as much as 3.4 million cubic meters of natural gas. Shares of Parana state-controlled utility Companhia Paranaense de Energia (ELP, CPLE6.BR), or Copel, gained 2.9% to BRL43.00. Steelmakers, meanwhile, were broadly higher. Shares of integrated steelmaker CSN (SID) rose 2.2% to BRL27.86, while flat steel maker Usiminas (USIM5.BR) ended 1.9% higher at BRL20.22. Steel giant Gerdau (GGB) closed 2.9% higher at BRL21.10. Construction companies also rebounded. Cyrela Realty (CYRE3.BR) soared 4.5% to BRL21.05, while Gafisa (GFSA3.BR) gained 3.3% to BRL12.38.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazilian Stocks Close Lower Tuesday</span><br />
Brazil's benchmark Ibovespa stock index dropped for a second day, closing 2.4% lower at 67,953 points. That is the lowest close since Sept. 21. <br />
<br />
Blue chips were lower across the board Tuesday as all but five of the 67 stocks on the index fell. State oil company Petroleo Brasileiro SA (PBR, PETR4.BR) fell 1.6% to BRL24.65 on lower global oil prices. Vale (VALE, VALE5.BR), the world's biggest iron-ore producer, dropped 2.2% to BRL48.20 as global metals prices fell.Telecom leader Tele Norte Leste Participacoes (TNLP4.BR), or Oi, declined 2.3% to BRL24.03. Steel maker Usiminas slumped 4.1% to BRL19.85, while rival CSN (SID, CSNA3.BR) slid 2.9% to BRL27.25. Aircraft manufacturer Embraer fell 0.7% to BRL12.23. Minas Gerais utility Cemig was also down, losing 0.9% to BRL28.34.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BRAZIL TO DROP CENTRAL BANK ADVISER</span> <br />
Press reports Monday indicated Brazilian President-elect Dilma Rousseff will not reappoint Central Bank of Brazil Governor Henrique Meirelles. Rousseff and Meirelles are due to meet in Brasilia later this week.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazil Current Account Deficit Widens To 2.43%/GDP</span></div><br />
A declining foreign trade surplus due to rising imports has led to another widening of Brazil's 12-month current account deficit, according to the Brazilian Central Bank on Tuesday. <br />
<br />
Brazil's 12-month current account deficit widened in October to $47.99 billion, equal to 2.43% of gross domestic product. The 12-month current account deficit as of September was $47.3 billion, or 2.4% of GDP. <br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazilian Stocks Closed Lower Monday</span></div>Brazil's benchmark Ibovespa stock index closed 1.78% lower at 69633 points. Volume was moderate at 5.41 billion Brazilian reais ($3.1 billion).<br />
<br />
State oil company Petrobras retreated 2.49% to close at BRL25.06 on lower global oil prices. Mining major Vale saw its shares fall 0.52% to BRL49.30 as global metals prices fell. Telecom leader Tele Norte Leste Participacoes, or Oi, declined 2.84% to close at BRL24.60. Steel maker Usiminas dropped 4.21% to close at BRL20.69. Aircraft manufacturer Embraer fell 1.99% to BRL12.31. Minas Gerais utility Cemig was down 2.79% to BRL28.59. Real estate developer Gafisa ended 3.86% lower at BRL12.44.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: x-large;">MEXICO:</span><br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Mexican Stocks Gain Friday</span></div><br />
The IPC index of Mexico's 35 leading shares was up 0.1% to 37008, advancing toward the record high close it posted Wednesday of 37079 points. Volume was thin at 14.7 million shares traded worth 352.9 million pesos ($28.3 million). <br />
<br />
The IPC started the session in negative territory, in line with U.S. market declines, before clawing its way higher. The index has been on a tear in recent months and is up nearly 11% from its end-September level and 15% higher than its end-2009 level. <br />
<br />
The index briefly touched a new intraday high of 37,154 points in thin trade on Thursday before ending that session in the red. Still, the brief intraday gain signaled to several technical analysts that the index's upward tilt continues and that the IPC could hit 38000 points in the next few sessions. <br />
<br />
Among blue chips attempting to tack on gains early Friday, wireless carrier and market bellwether America Movil was up 0.4% to MXN35.74, cement group Cemex was 0.7% higher at MXN11.63 and media conglomerate Televisa was up 0.9% at MXN58.10. <br />
<br />
The Mexican peso, was recovering from weaker levels against the dollar shown in early morning trades. The peso was recently quoted at 12.4615 to the dollar .<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Mexico Stocks Gain Wednesday</span></div>The IPC index of leading Mexican shares was gaining 0.8% to 36553 at around 10:20 a.m. EST, on volume of 1.3 billion pesos ($105 million).<br />
<br />
Early Wednesday, wireless communications operator America Movil was adding 0.5% to MXN35.25, mining interest Grupo Mexico was up 1.3% to MXN43.08 as world copper prices rose and cement maker Cemex was gaining 1.5% to MXN11.40 despite disappointing data on the U.S. housing market, which accounts for a large chunk of the company's sales. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">INFLATION RISES IN MEXICO </span><br />
<i><b>Mexico CPI Jumps 0.68%</b></i><br />
<br />
Mexico's consumer prices rose more than expected in the first half of November. Food, fuel and energy moved up. <br />
<br />
The Bank of Mexico said Wednesday the consumer price index rose 0.68% in the first two weeks of this month, pushing the 12-month rate up to 4.32% from 4.02% at the end of October. The core inflation index, which excludes volatile prices for energy and fresh fruits and vegetables rose 0.16% in the first half of November, moving the annual rate up to 3.65% from 3.58% at the end of last month.<br />
<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">TUESDAY MEXICAN STOCKS DROP LOWER</span></div></div><div style="font-family: Arial,Helvetica,sans-serif;">Mexico stocks trend lower at 10:20 a.m. EST Tuesday, the benchmark IPC index of most-traded Mexican shares was down 0.9% at 36,387.63 points. Volume was 23.5 million shares worth 630.8 million pesos ($50.6 million).<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Wireless operator and IPC leader America Movil (AMX) L shares were down 1% at MXN35.16, cement maker Cemex (CX) CPO shares were off 1.1% at MXN11.32, copper miner Grupo Mexico (GMEXICO.MX) B shares were 0.9% lower at MXN42.67, and retailer Wal-Mart de Mexico (WMMVY) V shares were down 1.1% at MXN34.83.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The peso was quoted in Mexico City trading sharply weaker at MXN12.4550 to the dollar. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">the National Statistics Institute, or Inegi, said Tuesday that Mexican retail sales rose 4.1% in September from a year earlier while slipping 0.08% from August in seasonally adjusted terms.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">MEXICAN STOCKS MIXED</span></div><br />
The IPC index of leading Mexican shares advanced 109 points, or 0.3%, to 36710 -- topping its previous high finish reached on Friday. Volume was 164 million shares traded worth 5.53 billion pesos ($449.6 million). Trade was mixed, with just 23 of the index's 35 companies charting gains.<br />
<br />
Consumer-oriented shares led Mexico's stock gains Monday, with the V shares of the country's largest retailer, Walmex, advancing 1.6% to MXN35.20 and coke bottler Coca-Cola Femsa's L shares rising 3.7% to MXN102.56. Market bellwether and wireless communications provider America Movil's L shares, though, pulled back 0.2% to MXN35.53. <br />
<br />
Stocks were trending lower early Monday as the dollar regained attention and raised over the impact of European currency.<br />
<br />
At 10:30 a.m. EST, the IPC index of Mexico's leading shares was off 0.1% to 36568 points, retreating slightly after having hit a record high close Friday of 36601 points. <br />
<br />
The market benchmark and wireless phone operator America Movil's L shares were off 0.5% to 35.44 pesos ($2.88), while cement maker Cemex's CPOs were down 0.2% to MXN11.42 and pharmaceuticals maker Genomma Lab's B shares were advancing 0.8% to MXN28.06.<br />
<br />
The Mexican peso, meanwhile, was also losing ground, trading at 12.2850 to the dollar versus MXN12.2625 at the close Friday.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Mexico's 3Q Gross Domestic Product Up 5.3%</span></div><br />
The National Statistics Institute, or Inegi, said Monday that gross domestic product, which measures output of goods and services, grew 5.3% in the third quarter from the year-earlier period.<br />
<br />
Industrial production in the July-September period rose 6.2% from the year-ago period, led by a 9.6% increase in manufacturing. Construction edged up 0.9%, utilities were up 3.2%, and mining rose 2.9%. Services expanded 4.2% from the third quarter of 2009, led by an 11.9% increase in commerce. <br />
<br />
Economic activity continued its expansion from the second quarter, increasing 0.73% in seasonally adjusted terms, for an annualized rate of 3%. <br />
<br />
Manufacturing exports have led the economic rebound so far this year, although the growth is expected to decelerate as U.S. demand for Mexican goods slows. Domestic demand is expected to contribute more to growth as employment levels improve following the 2009 recession.<br />
<br />
<span style="font-size: x-large;">ARGENTINA:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Argentina's 3Q Unemployment Falls To 7.5% From 9.1% Year Ago</span><br />
<br />
Argentina's unemployment rate fell to 7.5% in the third quarter as employers continued to boost hiring amid an economic boom. The jobless rate is down from 9.1% during the same quarter a year earlier and down from 7.9% in the second quarter. The jobless number, reported Tuesday was issued by the national statistics agency, Indec. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina Trade Surplus $11.42 Billion </span><br />
<i><b>Argentina posted a trade surplus of $931 million in October, as both imports and exports surged due to strong domestic demand and soaring grain shipments. </b></i><br />
<br />
The surplus was lower than the median forecast of economists polled by the Central Bank of Argentina who had expected October's surplus to total $986 million.<br />
<br />
The surplus, published Tuesday by the national statistics agency, Indec, is down from the $1.15 billion surplus during the same month a year ago and from $1.07 billion in September.<br />
<br />
Exports rose 22% in October to $5.5 billion, while imports jumped 35% to $4.9 billion. <br />
<br />
The higher overall value of exports was due mainly to increased volume, according to Indec, which noted that export prices were up 3% from the same period a year earlier.The same was true for imports, which rose 19% in terms of volume and 5% in terms of prices. <br />
<br />
So far this year Argentina has accumulated a trade surplus of $11.426 billion through October. <br />
<br />
The biggest share of exports--about 24%--went to other members of the South American customs union known as Mercosur. Asian nations, including China, came in second at 20%. The European Union came in third at 16%. <br />
<br />
Mercosur provided one third of Argentina's imports in October. Asian countries accounted for 21% of imports, while European nations made up about 18%.<br />
<br />
<span style="font-size: x-large;">CHILE:</span><br />
<div style="font-family: Times,"Times New Roman",serif;"><br />
<span style="font-size: x-large;">CHILE STOCKS MOVE UP WEDNESDAY</span><br />
<i style="font-family: Arial,Helvetica,sans-serif;"><b>Chile Stocks Rebound 1% Midday, Break Above 5,000 Points</b></i><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Chile's blue-chip Ipsa index rebounded 1% midday Wednesday, following the previous session's tumble, breaking above the 5,000 point barrier for the first time in two and a half weeks.</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-family: Arial,Helvetica,sans-serif;"> </span><span style="font-family: Arial,Helvetica,sans-serif;">Forestry conglomerate Copec (COPEC.SN) gained 1.9% to CLP9,798.00, retail holding behemoth Cencosud (CENCOSUD.SN) increased 2.8% to CLP3,675.00 and flagship carrier LAN Airlines (LFL, LAN.SN) expanded 1.6% to CLP15,140.00. </span><br />
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</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chilean Stocks Close 0.7% Lower Tuesday</span></div><br />
Chile's Ipsa blue-chip stock index ended lower Tuesday as the pessimism that permeated global markets seeped into the local one as well. <br />
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The Ipsa closed 0.7% lower at 4951.73 while market volume shrank to 59.7 billion Chilean pesos ($124.0 million) against CLP88.6 billion the previous session.<br />
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Chile stocks fell across the board, with commodities-related shares took a larger decline amid the U.S. Dollar's gains.<br />
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Integrated iron ore and steel producer Cap (CAP.SN) tumbled 1.7% to CLP24,900.00 and forestry and fuel conglomerate Copec (COPEC.SN), the heaviest weighted share on the Ipsa, shed 1.6% to CLP9,614.00.<br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">European Markets:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">EUROPEAN STOCKS DECLINE FRIDAY </span><br />
European stocks fell Friday, with the Spanish market suffering particularly steep losses, as worries over sovereign-debt contagion in the euro zone continued to escalate. <br />
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The Stoxx Europe 600 index dropped 0.4% to 266.60, bringing weekly losses to 1.1%. <br />
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Volume was thinner than usual as many traders stayed away from their desks. U.S. markets were closed Thursday and are only open for a half-day Friday.<br />
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The Spanish Ibex 35 index slumped 1.8% to 9,547.20, as banking shares weighed. Shares of BBVA fell 2.4% and Banco Santander declined 3.7%. The PSI 20 index in Lisbon fell 0.6% to 7,581.80. In Hungary, the BUX stock index declined 2.8% on escalating worries over the government's planned changes to the private pension-fund system. <br />
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The euro gained 1% against the forint.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Stocks Advance Thursday</span><br />
The main European equity markets advanced Thursday as a strong finish on Wall Street offset worries about sovereign debt in peripheral euro-zone countries. Banks across Europe were also mostly weaker as debt problems continued to weigh on sentiment. Credit Suisse Group (CH:CSGN 39.08, -0.10, -0.26%) dropped 0.3%. The Stoxx Europe 600 index (STOXX600 267.72, +1.43, +0.54%) rose 0.5% to 267.72. Europe's FTSEurofirst 300 rose about 0.1 percent. <br />
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<b>Wednesday</b>, European stock markets rose from a six-week closing low, with the FTSEurofirst 300 up 0.4 percent in early trade. London's FTSE 100 rose 0.7 percent, Germany's DAX 0.5 percent and France's CAC 40 0.6 percent.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><b><span style="font-size: large;">European market ended lower Monday.</span></b></div><br />
Spot gold was trading higher in Europe Monday, tracking a firmer euro, but market participants are forecasting continued volatility as uncertainty over the euro zone persists and the year-end approaches. Tuesday, Germany publishes 3Q GDP data at 0700 GMT, along with the Purchasing Managers Index at 0830 GMT. Euro zone PMI is due at about 0900 GMT, while in the US 3Q GDP is due at 1330 GMT and existing home sales at 1500 GMT. <br />
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<span style="font-size: x-large;">LONDON:</span><br />
In London Friday, losses for mining and bank shares dragged the FTSE 100 index down 0.5% to 5,668.70, weighed by shares of Vedanta Resources PLC, off 3.2%, and BHP Billiton PLC, off 1.6%.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>Friday:</b> The Financial Service Authority, or FSA, said Friday Neil Rollins, a former senior manager of PM Onboard Limited, a waste industry firm, was found guilty of five counts of insider trading and four counts of money laundering at Southwark Crown Court.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">U.K STOCKS CLOSE HIGHER THURSDAY</span><br />
Mixed comments by the Bank of England pushed the British Pound to a low of 1.5732 during the <br />
European trade as the central bank maintained a cautious outlook for the U.K. economy. The Loonie is making some minor gains against the greenback on strong economic data from earlier in the week as the US markets are closed; at 1.0104 <br />
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The U.K.’s FTSE 100 (UK:UKX 5,699, +41.83, +0.74%) closed up 0.7% to 5,698.93 as gains for real-estate stocks and some miners helped lift the index. Shares in Anglo American (UK:AAL 2,985, +77.00, +2.65%) rose 2.7%.<br />
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Shares in Capital Shopping Centres Group (UK:CSCG 381.50, +44.10, +13.07%) were the biggest gainer in the FTSE index, climbing nearly 13% after the company said it had received a preliminary approach from Simon Property Group Inc.(SPG 100.27, 0.00, 0.00%) . See London Markets.<br />
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The potential bid also provided a lift for other real-estate companies. Hammerson (UK:HMSO 406.80, +19.40, +5.01%) rallied 4.8% and British Land (UK:BLND 492.40, +14.20, +2.97%) gained 2.4%. <br />
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Daily Mail & General Trust (UK:DMGT 544.00, -20.50, -3.63%) dropped 3.5% in London after the group reported its earnings for the latest fiscal year.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">London Stocks End Higher Wednesday</span><br />
FTSE 100 5657.10 +75.82 +1.36%<br />
FTSE 250 10731.10 +111.81 +1.05%<br />
DJ UK Smaller Companies 845.73 +3.85 +0.46%<br />
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U.K. Prime Minister David Cameron said Wednesday he is concerned about the impact of Ireland's economic woes on the U.K. economy. The leading hawk on the Bank of England's Monetary Policy Committee Wednesday said a policy of very low interest rates may be eroding monetary discipline and the credibility of the institution, adding that the economy could withstand a gradual rise in the key rate.<br />
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<span style="font-size: large;">UK 3Q GDP Unrevised</span><br />
U.K. third-quarter growth was left unrevised by the Office for National Statistics Wednesday, with figures showing net trade contributed around half the quarter's 0.8% growth.<br />
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<span style="font-size: large;">Rolls-Royce Racks Up New Orders</span><br />
Rolls-Royce Group PLC (RR.LN) is raking in new orders for commercial aircraft engines even though its reputation has been tarnished by the high-profile failure of one of its jets on an Airbus A380 aircraft.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;">Capital Shopping Centres In Talks</span> </div><div style="font-family: Arial,Helvetica,sans-serif;">Capital Shopping Centers Group PLC (CSCG.LN) Wednesday confirmed it is in advanced talks to buy Manchester's Trafford Centre for GBP750 million in a deal that would see the current owner of the northern England venue become the biggest shareholder in the offshoot of the former Liberty International PLC. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;">Glaxo Exits US Penicillin Market</span></div><div style="font-family: Arial,Helvetica,sans-serif;">GlaxoSmithKline PLC (GSK.LN) is exiting the U.S. penicillin market by selling its oral penicillin facility there and the plant's domestic product portfolio to Indian generic drug maker Dr. Reddy's Laboratories (RDY).</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FTSE Ends Lower Tuesday</span><br />
FTSE 100 5581.28 -99.55 -1.75%<br />
FTSE 250 10619.29 -177.26 -1.64%<br />
DJ UK Smaller Companies 899.22 -12.89 -1.41%<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK SET FOR IMMIGRATION REFORM</span> <br />
The U.K. said Tuesday it would cut the number of work visas issued to non-European Union migrants by a fifth to a maximum of 21,700 a year, as it seeks to slash immigration. Students, who represent almost two-thirds of non-EU migrants coming to the U.K. each year, will also be subject to much tougher conditions.<br />
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Under the proposals outlined Tuesday, which will take effect in April 2011, the number of skilled migrants allowed in without a job offer will be slashed to just 1,000 a year, May told parliament's lower House of Commons. <br />
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These visas will be reserved for "wealth creators" and "people of exceptional talent", amid criticism that some of the brightest academics, scientists and artists will be stopped from coming to the U.K.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">UK Banks Exposed To Irish Economy</span></div>The direct exposure of U.K. banks to Ireland's banks and Irish government debt are not "worrying," Adair Turner, chairman of U.K. regulator, the Financial Services Authority said Tuesday.<br />
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Net mortgage lending by U.K. banks grew at a slightly faster pace in October than a month earlier, but the outlook continues to deteriorate as mortgage approvals eased yet again and to a 19-month low, data from the British Bankers Association showed Tuesday. <br />
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On Tuesday, Patrick Honohan, governor of the Central Bank of Ireland, says selling Ireland's banks to foreign buyers may be desirable. 'The banks are for sale as far as I'm concerned,' Honohan says, as large global banks often absorb losses better. <br />
The head of U.K. supervisor, the Financial Services Authority, said Tuesday he doesn't support breaking up large banks to deal with the too-big-to-fail problem but recognized there could be a case for "structural reform" to shake up competition in the U.K. banking sector. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK Wheat Exports At 2M Tons By Year End-Gleadell Head </span><br />
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U.K. wheat exports may rise as high as 2 million metric tons by the end of the year, eating into the country's stocks, the head of grain merchant Gleadell Agriculture Ltd. said Tuesday.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">London Stocks Close Lower Monday</span></div>FTSE 100 5680.83 -52.00 -0.91%<br />
FTSE 250 10769.55 -30.56 -0.28%<br />
DJ UK Smaller Companies 912.11 -0.22 -0.02%</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
UK banks understandably lead the move lower--RBS -3.8% and Lloyds Banking Group -2.7%--given the exposure these banks have to Ireland debt.<br />
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A survey conducted by the financial information firm Markit showed Monday that U.K. business confidence for the coming 12 months has fallen as investment plans have weakened while concern over customer demand increased. The survey also learned that U.K. household finances deteriorated for a third consecutive month in November making it less likely that consumers will help drive the economic recovery in the months ahead. <br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">Banks Drag FTSE Lower</span><br />
Britain's top share index was lower by midday on Monday, as concerns over euro zone debt weighed.<br />
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<b>Forte Energy Shares +9% On Potential Rare Earth Find</b><br />
Forte Energy NL's (FTE.AU) shares rose sharply Monday after the exploration and development company said there could be a "substantial body" of rare earth elements at its Firawa uranium project in Guinea.<br />
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<b>Anglo American Begins Sale Of Callide Thermal Coal Mine</b><br />
Globally diversified miner Anglo American PLC (AAL.LN) Monday said it plans to begin the process of selling its Callide thermal coal mine in Central Queensland, Australia.<br />
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<b>Mitie Gives Positive Outlook as Outsourcing Growth Continues</b><br />
U.K.-based facilities management and property services company Mitie Group PLC (MTO.LN) will continue its strategy of growing organically supplemented by some acquisitions as it looks to take advantage of continued outsourcing by customers in both the public and private sectors, its chief executive officer said Monday.<br />
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<b>Jubilant Energy To Raise $85 Million In AIM Float</b><br />
Jubilant Energy NV said Monday it plans to raise $85 million in an initial public offering on London's junior Alternative Investment Market to develop its oil and gas assets in India, and accelerate its exploration program.<br />
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<b>Big Yellow Moves To 1H Pretax Profit On Higher Occupancy </b><br />
U.K. self-storage provider Big Yellow Group PLC (BYG.LN) Monday posted a swing to first-half pretax profit on revenue that climbed 8% as the firm boosted occupancy rates at its stores.<br />
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<b>Sheba Exploration Undertakes Further Placing To Raise GBP10,000</b><br />
Sheba Exploration PLC (SHE.PM) said Monday it is raising an extra GBP10,000 through a private placing of 1 million ordinary shares at 1 pence per share, which it will use for general administrative expenses and the ongoing development of exploration licenses in Ethiopia.<br />
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<b>African Eagle Resources Sells Uranium Assets For A$1M</b><br />
African Eagle Resources PLC (AFE.LN) has sold its uranium division to Jacana Resources Ltd. for A$1 million in shares and cash, as the exploration and development company looks to focus on its flagship Dutwa nickel deposit in Tanzania.<br />
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<b>Gold Fields: Strike At South Deep Mine Resolved </b><br />
Gold Fields Ltd. (GFI), a South African gold miner, Monday announced that the strike by the National Union of Mineworkers at its South Deep mine in South Africa is over and that production resumed last night.<br />
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<span style="font-size: x-large;">GERMANY:</span><br />
<b>Germany's DAX: -0.5% </b></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>Friday:</b> The German DAX 30 index lost 0.5% to 6,848.98, with shares of BMW AG down 1.1% and Deutsche Bank AG off 1.7%.<br />
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German Finance Minister Wolfgang Schaeuble says he is opposed to increasing the size of the European Union's crisis bailout fund, calling speculation of such a move "completely over the top." <br />
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<b>FRIDAY:</b> German Inflation Gains More Than Economists Forecast on Food, Energy Costs<br />
Inflation in Germany, Europe's largest economy, accelerated more than economists forecast in November.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">GERMAN CPI RISES 0.1% ON MONTH, 1.5% ON YEAR</span><br />
Consumer prices in Germany, Europe's largest economy, rise faster than expected in November, reflecting price pressures in seasonal foods and the energy sector, data from the Federal Statistics Office show.<br />
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<span style="font-size: large;">DEUTSCHE BANK HOLDS MAJORITY STAKE IN POSTBANK</span><br />
Deutsche Bank says it now holds the majority of voting rights in Deutsche Postbank after obtaining at least 21.48% from a voluntary public takeover offer to free-float shareholders. <br />
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<b>Thursday</b>, Germany’s DAX 30(DX:DAX 6,880, +55.86, +0.82%) rose 0.8% to 6,879.66 as car makers BMW (DE:BMW 59.77, +0.77, +1.31%) and Volkswagen (DE:VOW3 126.90, +1.95, +1.56%) both rose around 1%. <br />
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<b>Wednesday</b>, Shares in German software maker SAP (SAPG.DE) opened lower on Wednesday after a US district court jury ruled that it has to pay peer Oracle (ORCL.O) $1.3 billion for software theft. By 0806 GMT, SAP shares were down 1.1 percent at 35.79 euros on the Tuesday ruling which could be the largest-ever fine for copyright infringement.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">GERMAN BUSINESS INDICATOR RAISED</span><br />
<i><b>German Business Confidence Jumps</b></i><br />
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On Wednesday, the IFO economic research institute at the University of Munich said its surveys showed confidence among German business in November at the highest level since reunification in 1990. Domestic and exports business sales and production indicate a growing economic signal that provides a solid business confidence among business operations. Germanies employment numbers also show that its economy is growing.<br />
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The German economy had slowed in the third quarter, expanding by 0.7 percent from the second quarter’s 2.3 percent rate, but the data also showed signs that the expansion had moved beyond the narrow manufacturing sector.<br />
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GfK, a market research firm, said its German consumer sentiment indicator for December showed a sixth-consecutive gain, increasing to 5.5 for December from 5.1 in November, which itself was revised upward. <br />
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The headline business climate indicator rose to 109.3 from 107.6, much better than market expectations of a flat or slightly lower reading. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">GERMAN AUTO MAKERS SALES GROW</span><br />
Porsche, the sports car maker, reported Wednesday that its sales rose 86.4 percent in its first quarter from a year earlier, when sales were depressed by the financial crisis. It posted revenue of €2.1 billion, or $2.8 billion, up 80 percent.<br />
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BMW and Daimler said this week that they will reduce the Christmas breaks at their factories to meet global demand for luxury autos. <br />
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<b>Tuesday</b>, German Chancellor Angela Merkel spoke on the grave situation facing the single currency due to the debt crisis in Ireland. <br />
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<b><i>"We're in an extraordinarily serious situation, as far as the situation of the euro is concerned," </i></b>Merkel said at a conference in Berlin Tuesday.<br />
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<span style="font-size: x-large;">FRANCE:</span><br />
<b>Friday: </b>French CAC 40 index fell 0.8% to 3,728.65<br />
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BNP Paribas SA off 2.2% and Societe Generale SA down 1%.<br />
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<b>Thursday</b>, the French CAC 40 index (FR:PX1 3,760, +12.81, +0.34%) gained 0.3% to 3,760.42.<br />
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French consumer confidence was the latest sentiment indicator to beat forecasts in Europe on Thursday .<br />
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<span style="font-size: x-large;">SPAIN:</span><br />
<b>Friday: </b>Prime Minister Jose Luis Rodriguez Zapatero says there is "absolutely" no chance it will seek a bailout. The euro zone's sovereign debt crisis escalates as the market homes in on Spain as another potential weak spot, leaving officials scrambling to quell investors' fear.<br />
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<b>Wednesday</b>, FinMin Salgado says there is no risk of Spain needing a bailout, the budget correction is producing results which will calm the market.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">IRELAND:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Dublin Stocks: ISEQ Ends +0.5% At 2,667; AIB +14% </b></i><br />
<i><b>Ireland's ISEQ stock index reversed earlier losses to gain 0.4%. </b></i><br />
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<i><b>Dublin Stocks Wednesday: ISEQ Ending +0.7% At 2,682</b></i><br />
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Among Irish stocks in the red Thursday, shares in airline Ryanair Holdings (IE:RY4B 3.89, -0.07, -1.69%) dropped 0.7%.<br />
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<span style="font-size: large;">Bank Of Ireland -10% </span><br />
Bank of Ireland fell 10% percent in trading Wednesday as investors and depositors moved away from the troubled bank.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">IRELAND'S BANK BAILOUT MAY NOT BE ENOUGH</span><br />
<i><b>Irish PM says bailout could total $115 billion </b></i><br />
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The Irish bailout could total euro85 billion ($115 billion), Prime Minister Brian Cowen announced Wednesday, but some analysts said the figure is too small to save Ireland from eventual default. <br />
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Tuesday, Ireland's coalition government was resisting calls for the prime minister to resign and calling on lawmakers to pass a 2011 budget. <br />
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Ireland's coalition government began to unravel in the wake of an unpopular international bailout and Prime Minister Brian Cowen pledged to call an election next year if a crucial budget package is approved.<br />
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The Republic of Ireland has called for a package of aid from the international community to help keep its economy and banking sector afloat. Shares in most Irish banks tumbled Monday after Ireland ministers said the banks will need more capital and must shrink their operations as part of the country's massive bailout package agreed late Sunday.<br />
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<span style="font-size: x-large;">GREECE:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Greek Newspaper Ends Print Edition</span><br />
Greek daily newspaper To Vima, hit by the country's economic crisis and plunging advertising revenue, Friday announced that it would cease its print edition in favor of online publication. <br />
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The move along with the demise of the Apogevmatini newspaper and reductions in salaries at the Skai radio and television stations prompted the powerful Union of Editors to call a strike for next week. <br />
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The strike from midnight Tuesday could disrupt daily newspapers and national television bulletins. <br />
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To Vima, part of the Lambrakis group, said Friday its print edition would be replaced from January by a "new electronic newspaper", a modernized version of the current free website. The newspaper's management took the decision after a drop in readership--8,000 for the print edition Thursday compared to 82,000 for its online edition--and a loss of advertising revenue.Staff were also told that the Lambrakis group was suffering losses of up to EUR20 million a year, and was under pressure from the banks, staff representative Tassos Anastassiadis told AFP. The newspaper and its weekly Sunday edition of the same name employs around 200 staff including 150 journalists, he added. <br />
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The Apogevmatini went bust earlier this month after 58 years of existence, leaving some 130 employees unpaid and out of a job. The Alafouzos group, which owns Skai and the liberal daily Kathimerini, announced pay cuts of some 10% for its broadcasting staff. <br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">Asian Pacific Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>Thursday,</b> Asian Markets Ended Higher<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>Wednesday</b>, Asian markets rebounded. MSCI's broadest index of Asia Pacific shares outside Japan was flat, with gains in Hong Kong , Shanghai and Singapore offsetting falls in Australia and South Korea. <br />
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<b>Monday</b>, Asian markets start the week off below Friday's Close the Hang Seng Index is down -31.68 (-0.13%) to <span id="ref_13414271_l">23,605.71</span>, the Japanese Nikkei 225 10,105.12 +82.73 (0.83%)..</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The broader Topix index gained 0.6 percent to 874.80, a level not seen since June 24. About five stocks increased for each one that decreased. All but two of the 33 industry groups in the Topix advanced. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">CHINA:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA PROTESTS U.S. EXERCISE </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WITH SOUTH KOREA</span><b><br />
</b>Beijing's first official protest over plans for joint military exercises involving an aircraft carrier in the Yellow Sea on Sunday was noticeably more restrained than after a similar announcement in July.<b> </b><br />
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<span style="font-size: large;">China Minister: "Worried" By Developments After N, S Korea Incident</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Chinese Foreign Minister Yang Jiechi on Friday talked with officials from the U.S., North Korea and South Korea and said he was "worried" by developments after North and South Korea exchanged artillery fire this week, according to a statement from China's foreign ministry. <br />
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North and South Korea should stay calm and negotiate to resolve their issues and improve relations, and it is most important to "control the situation" and prevent the occurence of similar incidents, the statement cited Yang as saying. <br />
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Yang met with the North Korean ambassador to China and spoke by phone with South Korean Foreign Minister Kim Sung-hwan and U.S. Secretary of State Hillary Clinton to exchange views on the situation on the Korean peninsula, the ministry said. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>Thursday</b>, Shanghai 2,898.26 +38.32 (1.34%), Hong Kong's Hang Seng index added 0.1 percent to 23,054.68.Shenzhen Composite Index 1,337.83, </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><span style="font-family: Arial,Helvetica,sans-serif;">Chinese shares closed higher on Thursday, tracking overseas gains, buoyed by property and oil refiners. The benchmark Shanghai Composite Index gained 1.3 percent to 2,898.26 while the Shenzhen Composite Index for China's smaller, second exchange edged 0.3 percent higher to 1,337.83.</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>Wednesday</b>, Shanghai 2,888.57 +23.11 (0.81%) </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">Chinese Vice President Xi Jinping concluded a two-day visit to Botswana on Monday, heading back home after a week spent promoting Chinese economic interests in southern Africa. <br />
<br />
The two countries on Sunday signed accords on infrastructure and energy development, which included a grant from China of around six million dollars (4.4 million euros), according to Gou Haodong, a Chinese embassy official. <br />
<br />
Xi, the heir-apparent to President Hu Jintao, on Monday toured the Diamond Trading Company, a joint venture between Botswana and De Beers that is the largest diamond sorting and valuing operation in the world. <br />
<br />
The Chinese vice president spent Friday in Angola signing a series of new energy pacts with the oil-rich nation, China's leading trading partner on the continent. <br />
<br />
The visits are part of an African tour that began last week in South Africa, where Xi signed a series of trade and energy deals. <br />
<br />
Beijing claims its bilateral trade with Africa will top 100 billion dollars in 2010, as Chinese firms continue pouring investment into the continent's oil, mining, agriculture and manufacturing sectors. China has assembled an extensive investment portfolio in southern Africa, particularly in Angola, Zambia and Zimbabwe. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">China ordered banks to set aside larger reserves for the fifth time this year, draining cash from the financial system to limit inflation and asset-bubble risks in the world’s fastest-growing major economy. The ratio will increase 50 basis points starting Nov. 29.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">China Investment Corp. said it owns the equivalent of 74 million shares of Chicago-based General Growth Properties Inc., the second-largest U.S. mall owner.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">The sovereign wealth fund holds 59.3 million common shares through a company called Brookfield Retail Holdings III LLC, according to a Form 4 filed with the U.S. Securities and Exchange Commission. China Investment, based in Beijing, also owns warrants on 14.7 million General Growth shares, according to a separate filing.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Funtalk (FTLK 6.73, +0.02, +0.30%) today announced that the Company will report its financial results for the second quarter of fiscal 2011 before the market opens on Tuesday, November 30, 2010.<br />
<br />
Management will host a conference call at 8:00 am ET on Tuesday, November 30, 2010. Funtalk is a leading retailer and wholesale distributor of mobile communications devices, accessories and content in China. </span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Bank of Communications Co. (601328 CH) closed unchanged at 5.78 yuan per share. Agricultural Bank of China Ltd. (601288 CH) gained 0.4 percent to 2.68 yuan apiece. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Changsha Zoomlion Heavy Industry Science and Technology Development Co. (000157 CH): The company has got approval from the China Securities Regulatory Commission to list its stock in Hong Kong. The company rose 5 percent to 13.23 yuan per share.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Chigo Holding Ltd. (449 HK): The air conditioner maker said it will raise a net HK$4.6 million in a placing of 100 million unlisted warrants at 5 cents, and then as much as a further HK$495 million on their conversion into shares. The stock gained 3.2 percent to HK$4.86.</div><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">China To Lift Rare Earth Export Ban To Japan</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">China has allowed domestic companies to take customs clearance measures to export rare earth minerals to Japan, paving the way for the lifting of an embargo that has been in place over the last two months, Japanese trading house officials said Monday, the Kyodo news service reported. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">The move signals a policy shift in China's relations with Japan following a meeting between Chinese President Hu Jintao and Japanese Prime Minister Naoto Kan earlier this month in Yokohama, the first official talks between them since bilateral ties soured in the wake of maritime collisions near the disputed Senkaku Islands in September, Kyodo reported. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Chinese companies that have received customs clearance approval will soon resume shipment to Japan of rare earth minerals, elements vital to manufacturing hybrid vehicles, mobile phones and other high-tech products, the officials said. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Japan relies on China for about 90% of its supply of rare earths. Trade sources said Chinese authorities issued such approval around Friday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">At the Nov. 13 summit, Hu and Kan agreed to develop long-term and stable strategic relations of mutual benefits, which they saw as vital for peace and development of the region and the world, Kyodo reported.</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span> <br />
<div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">JAPAN:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>Thursday</b>, Japan's Nikkei 225 stock average rose 0.5 percent to 10,079.76<br />
<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">Japanese Stocks Rise</span><br />
<i><b>Nikkei 225 10,105.12 +82.73 (0.83%) </b></i><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Japanese Oct CPI up 0.4%</span><br />
Japanese consumer prices rose 0.4% month-on-month in October, according to data out Friday. On an annual basis, prices were up 0.2%. The core consumer price index declined 0.6% on an annual basis, in line with economist forecasts.<br />
<br />
Wednesday, Japanese stocks rose for a fourth day as the euro strengthened against the yen. The yen depreciated to 114.79 against the euro. The Nikkei 225 Stock Average rose 0.9 percent to 10,107.73 as of 9:34 a.m. in Tokyo, set for the highest close since June 22. <br />
<br />
Hong Kong intensified a yearlong battle to curb surging home prices with additional taxes and higher down payments a day after the International Monetary Fund warned that asset inflation may derail the city’s economy. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Homes sold within six months of purchase will incur a 15 percent stamp duty from Nov. 20, Financial Secretary John Tsang said in a briefing. Down payments for homes costing HK$12 million ($1.5 million) or more will rise to 50 percent, from 40 percent. A stock gauge of developers in Hong Kong fell for the eighth day in nine ahead of the announcements.<br />
<br />
Fanuc Ltd., Japan’s leading industrial robot maker which gets more than 15 percent of its revenue in Europe, jumped 1.3 percent.<br />
<br />
Canon Inc., a camera maker that derives about 80 percent of its revenue abroad, climbed 0.8 percent.<br />
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Central Japan Railway Co., Japan’s biggest high-speed train operator, advanced 1.7 percent after the Nikkei newspaper said the company will lead a bid for a railway project in Florida. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span class="chr" id="ref_13414271_c"></span> </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: x-large;">AUSTRALIA:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">AUSTRALIAN BANK SCRAMBLES</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> TO RE-OPEN ACCOUNTS</span><i><b><br />
</b></i>The National Australia Bank, one of Australia's largest banks, is scrambling to process payments to millions of customers, who potentially face days of uncertainty about when they will be able to access their money.<br />
<br />
The Herald has been inundated by anxious NAB customers, some of whom had checked online to find their past month's transactions rubbed out and their accounts credited with nothing.<br />
<br />
Property deals were being put on hold, car sales suspended, wages not transferred, and direct debit payments for mortgages and bills stopped.<br />
<br />
A corrupted file in the National Australia Bank's computers on Wednesday jammed its payment system, hitting customers from a range of banks who rely on the NAB to process payments.<br />
<br />
The bank, which last night was considering opening extra branches during the weekend, could not say when the problem would be fixed. <br />
<br />
<br />
<i><b>Thursday, Australia's S&P/ASX was up 0.2 percent at 4,593.4.</b></i><br />
<br />
Australia's central bank chief signaled on Friday that interest rates could remain steady for the next few months. Banks were higher amid testimony from Reserve Bank of Australia governor Glenn Stevens in which he termed recent rate hikes from lenders "prudent." Australia & New Zealand Banking Group Ltd. (AU:ANZ 22.63, +0.16, +0.71%)(ANEWF 22.20, -0.25, -1.11%) shares were up 0.7% and National Australia Bank Ltd.(AU:NAB 23.42, +0.12, +0.52%)(NAUBF 23.95, 0.00, 0.00%) shares were up 0.4% <br />
<br />
Australian shares moved higher in early trading, with miners leading the gains. The S&P/ASX 200 index rose 0.3% to 4,609.30 with Rio Tinto Ltd. (AU:RIO 84.30, +1.25, +1.51%) (RIO 66.45, 0.00, 0.00%) up 1.7% and BHP Billiton Ltd.(AU:BHP 43.39, +0.30, +0.70%) (BHP 85.10, 0.00, 0.00%) shares up 1%. Away <br />
<br />
Telecom Telstra (AU:TLS 2.86, -0.02, -0.69%) (TTRAF 2.75, +0.07, +2.61%) gained 1%. Banks were higher amid testimony from Reserve Bank of Australia governor Glenn Stevens in which he termed recent rate hikes from lenders "prudent." Australia & New Zealand Banking Group Ltd. (AU:ANZ 22.63, +0.16, +0.71%)(ANEWF 22.20, -0.25, -1.11%) shares were up 0.7% and National Australia Bank Ltd.(AU:NAB 23.42, +0.12, +0.52%)(NAUBF 23.95, 0.00, 0.00%) shares were up 0.4% <br />
<br />
Australia's government said Tuesday it will examine foreign ownership of the country's rural land and agricultural food production in response to a spate of takeovers that have triggered anxiety about job losses and broader concerns about food security.<br />
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Australia also vowed to clear the way for the long-term supply of rare-earth metals to Japan amid supply worries surrounding China. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Qantas Seeks Rolls-Royce Compensation For A380 </span><br />
Qantas Airways Ltd. (QAN.AU) said Tuesday it will seek compensation from engine maker Rolls-Royce Group PLC (RR.LN) as it resumes flights of its A380 jetliner after a turbine blowout earlier this month grounded its fleet. <br />
<br />
<br />
QR National Ltd. (QRN.AU) listed on the Australian Stock Exchange at A$2.54 a share Monday in a closely watched debut. The deal, which raised A$4.05 billion, was priced at A$2.55 at the low end of the A$2.50 to A$3.00 price range.<br />
<br />
The Queensland government sold a 60% stake in the railroad as part of a larger asset sale program to raise money and improve the state's credit rating. The government was hoping to sell as much as 75% of the railroad on the public market but it didn't find sufficient demand for that large of a placement.<br />
<br />
<br />
International investors took up a large part of the QR National IPO. Nearly two-thirds of the total share sale went to institutions, with domestic institutions representing just about half of the institutional register. <br />
<br />
<br />
<span style="font-size: x-large;">KOREA:</span><br />
<b><i>Friday reports of artillery fire near the South Korean island of Yeonpyeong served to rattle markets early on, and North Korea's official news agency reportedly said further escalation will lead to open war. </i></b><br />
<br />
<b>Thursday, </b>South Korea's Kospi index gained 0.1 percent to 1,927.68 <br />
<b>Wednesday</b>, North Korea's Seoul's benchmark index (KSE) finished down only 0.2 percent, off earlier lows, with foreign investors net buyers of stocks. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NORTH KOREA SHELLS SOUTH KOREAN ISLAND </span><br />
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<b>Tuesday</b>, North Korea fires artillery rockets at a South Korean island near a disputed western maritime border in a clash that kills two South Korean marines and sets numerous buildings on fire, sending the island's 1,200 residents scrambling for bomb shelters.<br />
<br />
No UN Security Council Meeting Tues On N Korea<br />
<br />
No UN Security Council meeting will be held Tuesday on North Korea's deadly artillery strike on a South Korean border island, the U.K. president of the council said. <br />
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____________________________________________________________<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(FRIDAY, NOV 26, 2010 11:45 AM EST)</b></i><br />
<br />
EEUR/USD 1.3215 -0.0140 (-1.05%)<br />
USD/JPY 84.0400 +0.4300 (0.51%)<br />
GBP/USD 1.5611 -0.0153 (-0.97%)<br />
CAD/USD 0.9809 -0.0098 (-0.99%)<br />
USD/HKD 7.7629 +0.0037 (0.05%)<br />
USD/CNY 6.6675 +0.0180 (0.27%)<br />
AUD/USD 0.9636 -0.0173 (-1.76%)<br />
<br />
<br />
<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(FRIDAY, NOV 26, 2010 11:45 AM EST)</b></i><br />
<br />
Shanghai 2,871.70 -26.56 (-0.92%)<br />
Nikkei 225 10,039.56 -40.20 (-0.40%)<br />
Hang Seng Index 22,877.25 -177.43 (-0.77%)<br />
TSEC 8,312.15 -37.84 (-0.45%)<br />
FTSE 100 5,673.90 -25.03 (-0.44%)<br />
DJ EURO STOXX 50 2,736.53 -28.52 (-1.03%)<br />
CAC 40 3,726.61 -33.81 (-0.90%)<br />
S&P TSX 12,907.65 -38.16 (-0.29%)<br />
S&P/ASX 200 4,598.30 +4.90 (0.11%)<br />
BSE Sensex 19,136.61 -181.55 (-0.94%) <br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">WEDNESDAY'S U.S. ECONOMIC CALENDAR:</span><br />
<br />
<br />
<br />
<b>HOLIDAY:</b><br />
<i><b>U.S. Markets will close Thursday for the Thanksgiving holiday. </b></i><br />
<br />
____________________________________________________________<br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, WED., NOV. 24, 2010:</span><br />
<br />
<b>Stocks:</b><br />
<b>Wednesday</b>, U.S. stocks surged in light volume and choppy trading, reversing the previous day's sharp declines as strong economic data pushed investors into retail stocks. Wednesday's gains were led by a surge in consumer discretionary and technology stocks, after glimmers of hope in consumer-spending and jobless data.<br />
<br />
<br />
<b>Treasurys:</b><br />
<b>Wednesday, </b>Treasury notes declined after improved U.S. and German economic data. The reports shored up some confidence that the global economy may withstand the stress from fiscal woes in several euro-zone nations and tensions in Korea. "The data provided a ray of hope for those who are bullish on the economy and the flight-to-quality flows reversed," said David Coard, head of fixed-income trading at Williams Capital Group. <b> </b><b> </b><br />
<br />
<b>Forex:</b><br />
<b>Wednesday, </b>The U.S. dollar and Japanese yen, considered safe harbors in stormy times, remained strong Wednesday.The euro was down modestly versus the dollar, bouncing off fresh two-month lows against both the greenback and yen in thin trading. Deep concerns about highly indebted euro-zone nations continued to weigh on the single currency. The euro had dropped to levels not seen since late September when Standard & Poor's cut its long-term and short-term sovereign ratings for Ireland, but retook most of those losses. <br />
<br />
<br />
gained strongly, with the ICE Dollar Index, soaring nearly 1.2% to a two-month high.<b> </b>The euro plummeted against its major rivals as festering issues of euro-zone sovereign debt.<b> </b><br />
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<br />
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<br />
<br />
© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved. </div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com2tag:blogger.com,1999:blog-11562244.post-56031312381893503762010-11-19T07:57:00.000-08:002010-11-30T10:43:25.769-08:00Stock Market Update - Friday, November 19, 2010 - Cautious Option Expiration Trading Day Modest Gains Seen<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Friday, November 19, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: x-large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="separator" style="clear: both; font-family: Arial,Helvetica,sans-serif; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>USA EQUITY INDEXES: (NOV. 19, 4:05 PM EST)</b></i><br />
<br />
Dow Jones 11,203.55 <span style="color: #38761d;">+22.32(+0.20%)</span><br />
S&P 500 1,199.73 <span style="color: #38761d;">+3.04 (+0.25%)</span><br />
Nasdaq 2,518.12 <span style="color: #38761d;">+3.72 (+0.15%)</span> <br />
<br />
<br />
<i><b>Dow Jones CLOSING Averages: DJIA 11,203.55 UP 22.32</b></i><br />
30 INDUS 11,203.55 UP 22.32 OR 0.20%<br />
20 TRANSP 4,873.44 UP 33.48 OR 0.69%<br />
15 UTILS 398.00 DN 1.37 OR 0.34%<br />
65 STOCKS 3,896.52 UP 9.89 OR 0.25%<br />
<br />
<i><b>Stocks Advancing Declining</b></i><br />
NYSE 638,904,847 444,543,692<br />
AMEX 9,431,857 3,799,185<br />
NASDAQ 1,008,080,436 716,441,452<br />
<br />
<i><b>SECTOR SUMMARY:</b></i><br />
Basic Materials +0.00%<br />
Capital Goods +0.14%<br />
Conglomerates +0.49%<br />
Cons. Cyclical +0.76%<br />
Cons. Non-Cyclical+0.34%<br />
Energy +0.50%<br />
Financial -0.03%<br />
Healthcare -0.09%<br />
Services +0.35%<br />
Technology +0.32%<br />
Transportation +0.67%<br />
Utilities -0.05%</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<i><b>US COMMODITY PRICES: (NOV. 19, 4:05 PM EST)</b></i><br />
Crude Oil 81.65 + 0.17%<br />
Natural Gas 4.17 + 0.14%<br />
Gasoline 2.19 -<br />
Heating Oil 2.28 -<br />
Gold 1353.47 - 0.02%<br />
Silver 27.34 + 1.33%<br />
Copper 3.82 - 0.21%<br />
<br />
<i><b>US DOLLAR FUTURES INDEX DXY: NOV. 19, 4:14PM EST: 78.43 <span style="color: red;">Down 0.19 (0.24%)</span></b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. Stocks Edge Up - Dollar Edges Down</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
US stocks closed up Friday, after spending most of the day in the red or flat ahead of Friday's close.<br />
<br />
The Dow Jones Industrial Average closed up 22.3 points, or 0.2%, at 11204 on Friday.<br />
<br />
The Nasdaq Composite added 3.72, or 0.2%, to 2518 on Friday and edged down 0.004% for the week. The Standard & Poor's 500-stock index rose 3.04, or 0.25% to 1200, led by its materials and consumer-discretionary stocks. The S&P 500 edged up 0.04% over the week. <br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">In early morning trades, the dollar edged up from Thursday's close putting pressure on equities and commodities. The euro climbed to $1.3668. The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, shed 0.1%. <br />
<br />
Also influencing today's market is that it is options expiration day. China's push to contain its inflation also is having some influence.<br />
<br />
Stocks show modest losses after another round of tightening from China raises investors' concerns over the potential impact on demand for commodities.<br />
<br />
The Dow Jones Industrial Average shed 12 points, or 0.1%, to 11170. The Nasdaq Composite lost 0.1% to 2512. The Standard & Poor's 500 index dropped 0.2% to 1194.<br />
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<br />
<div style="color: #e06666; font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. BANK FAILURES:</span></div><span style="font-size: large;"><b>The FDIC Closed Banks Friday After Hours</b></span><br />
The U.S. Government FDIC regulators closed additional Banks late Friday and seized all assets.The Federal Deposit Insurance Corp announced it closed additional banks. Friday's announcement brings the total failures for 2010 to 149. <br />
<br />
First Banking Center, Burlington, WI., November 19, 2010 <br />
Gulf State Community Bank, Carrabelle, FL., November 19, 2010<br />
Allegiance Bank of North America, Bala Cynwyd, PA., Nov. 19, 2010 <br />
<br />
<br />
<i><span style="font-size: small;">To see the complete list of failed banks and credit unions visit:</span></i><br />
<br />
<span style="font-size: large;">Online Consultancy Network™ Bank Failure List</span><br />
<a href="http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html">http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html</a> <br />
<br />
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<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">EQUITIES: </span><br />
Among stocks in focus, Dell climbed 1.7%. The computer giant's fiscal third-quarter earnings topped Wall Street expectations. Commodity-related companies weighed on the measure, with Alcoa off 1.5%, Chevron down 1% and Exxon Mobil off 0.9%. Walt Disney was also weak, off 1.7%, while Bank of America fell 1.3%, Alcoa are each off 2% to lead DJIA decliners, while Bank of America dips more than 1%. Walt Disney was one of the worst performers with a 1.9% drop. Verizon Communications was also weak, off 0.8%. General Electric climbed 1% while DuPont rose 0.8%. Boston Scientific (BSX) targets a 2% to 3% sales growth after it announced that it is buying a valve company Sadra Medical Inc. BSX shares are up 2% to $6.95.<br />
<br />
Del Monte Foods shares hit an all-time high after the Financial Times reports the food company is in advanced takeover talks with private-equity firm KKR. Shares are up 9%. <br />
<br />
AnnTaylor Stores jumped 8%. The women's apparel retailer's fiscal third-quarter profit soared absent prior-year write-downs as better-than-expected same-store sales growth boosted its top line. The company also boosted its sales target for the year. <br />
<br />
General Motors fell 1.5% to $33.83, giving back some of its gains made Thursday when the auto company returned to the public market and nearing its $33 IPO price.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">HJ HEINZ 2Q NET RISES 9%</span><br />
Maker of Heinz ketchup and Ore-Ida frozen potatoes posts fiscal 2Q profit of $251.4 million, or 78c a share, as stronger margins help profit come in a couple of cents above estimates. Revenue dips slightly to $2.6 billion. Shares edge lower.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CRUDE OIL:</span><br />
<i><b>U.S. Crude Oil: $ 81.30 per barrel</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>OIL FUTURES: Nymex Crude Closes Down 20c At $81.65/Bbl</b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
This morning, the December crude contract on the New York Mercantile Exchange fell 51 cents to US$81.34 a barrel.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NATURAL GAS:</span><br />
<i><b>Natural Gas: $4.14</b></i><br />
<b>US GAS:Future Settle Up 3.92% At $4.164 </b><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PRECIOUS METALS:</span><br />
<i><b>Gold: $1,353.</b></i><br />
<i><b>Silver:$ 27.52</b></i><br />
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The most actively traded contract, for December delivery, settled down 0.1%, or 70 cents, at $1,352.30 per troy ounce on the Comex division of the New York Mercantile Exchange. <br />
<br />
Engelhard Corp's base price for industrial gold bullion was $1345.43 per troy ounce, down $7.77 from previous. It's selling price for gold in fabricated form was $1446.34, down $8.35.<br />
<br />
Handy & Harman's base price for gold was $1342.50 per troy ounce, down $7.75. The fabricated form price was $1449.90, down $8.37.<br />
<br />
The spot palladium market has rallied almost 12% higher over the past two days, spurred by fears that Russia, the world's largest producer, has exhausted state stockpiles of the precious metal.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS:</span><br />
Treasurys were mixed, with the two-year note down, lifting its yield to 0.50%, while demand for the 10-year note rose, pushing its yield down to 2.89%. <br />
<br />
3 Month 0.11% -0.01 (-8.33%)<br />
6 Month 0.17% -0.01 (-5.56%)<br />
2 Year 0.51% 0.00 (0.00%)<br />
5 Year 1.51% -0.01 (-0.66%)<br />
10 Year 2.87% -0.03 (-1.03%)<br />
30 Year 4.24% -0.02 (-0.47%) </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">TRANS ASIAN PACIFIC TRADE PACK</span></div><b><i>The trade zone would bring together four countries that already have free-trade deals with the U.S.;Singapore, Chile, Australia and Peru--along with Malaysia, New Zealand, Brunei and Vietnam.</i></b><br />
<br />
The nine countries working toward a free trade pact in the Asia-Pacific are preparing to start negotiations early next month, a senior U.S. trade official said Friday. <br />
<br />
Negotiations on the Trans-Pacific Partnership, which recently expanded with the addition of Malaysia, has made "solid progress" going into the fourth round of discussions in New Zealand next month, said Barbara Weisel, assistant U.S. trade representative for Southeast Asia and the Pacific. <br />
<br />
"We're looking to begin negotiating text in the next round in December," Weisel said during a public hearing on Malaysia's entry in the talks. She encouraged business and other groups speaking at hearing to move quickly to provide input due to the fast pace of negotiations. <br />
<br />
New Zealand Prime Minister John Key said over the weekend he hopes to wrap up talks by the time the U.S. hosts the next Asia-Pacific Economic Cooperation summit in Honolulu a year from now. <br />
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"Malaysia's participation demonstrates that we can successfully integrate new countries into the negotiations and advances our goal of broadening the agreement to eventually include countries across the Asia Pacific," said Weisel. <br />
<br />
Japan has also announced plans to start consultations on joining the talks, though it doesn't plan to make a decision until June. <br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">Canadian Market:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TORONTO STOCKS MODEST GAIN</span></div><div style="font-family: Arial,Helvetica,sans-serif;">At noon. the S&P/TSX Composite Index was up 29.17 points, or 0.2%, at 12899.18. Declines led advances 693 to 685. Trading volume was 190.1 million shares. <br />
<br />
In early morning trades, the Toronto stock market was slightly lower Friday as commodity prices backed away in the wake of moves by China to curb inflation. The S&P/TSX composite index dipped 6.9 points to 12,863.1 while the TSX Venture Exchange was off 0.79 of a point to 1,986.84.</div><div style="font-family: Arial,Helvetica,sans-serif;">Falling prices for oil and metals helped weaken the Canadian dollar against the greenback, losing 0.07 of a cent to 97.83 cents US.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The base metals sector lost one per cent as the December copper contract on the Nymex lost two cents to US$3.81 a pound. Quadra FNX mining declined 22 cents to $14.58.</div><div style="font-family: Arial,Helvetica,sans-serif;">Gold stocks were also lower as December gold lost $7.50 to US$1,345.50 an ounce. Eldorado Gold (TSX:ELD) faded 15 cents to $17.29. The utilities sector was the only positive group with Fortis Inc. (TSX:FTS) ahead 18 cents to $31.33.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<i><b>Toronto Indexes, Volume; 4:00 PM EST Composite Up 86.32</b></i><br />
<br />
S&P/TSX Composite 12956.33 up 86.32 or 0.7%<br />
S&P/TSX 60 Index 743.22 up 5.63 or 0.8%<br />
Financials 182.76 up 1.53 or 0.8%<br />
Materials 419.55 up 1.65 or 0.4%<br />
Energy 301.64 up 3.08 or 1.0%<br />
Industrials 107.61 off 0.09 or 0.1%<br />
IT 29.99 up 0.21 or 0.7%<br />
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<b>Volume Friday Thursday</b><br />
3-4:15 85.1M 88.6M<br />
9:30-4:15 429.5M 509.3M</div><br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">South American Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">BRAZIL:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Rise</span><br />
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Brazilian stocks closed slightly higher Friday after a volatile trading day marked by uncertainties over Chinese economic policy and who will form part of Brazil's economic team next year. <br />
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Brazil's benchmark Ibovespa index closed at 70897 points, just 0.16% higher than Thursday's close, after spending much of the day in negative territory. Volume was moderate at 5.04 billion Brazilian reais ($2.95 billion). <br />
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Trading was also subdued amid signs that an accord could be delayed on the European Union and International Monetary Fund's planned aid package, which could reach as much as 100 billion euros for debt-ridden Ireland. Reports indicate the Irish government hasn't yet decided if it should accept the bail-out and may even be resisting the offer. <br />
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"Concerns over euro-zone periphery funding issues and Chinese policy tightening increased risk-asset volatility this week, marginally giving the U.S. dollar a boost but largely leaving core equities and commodity prices flat," said RBC Capital Markets in a note to clients. <br />
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In Brazil, markets are getting nervous over the continuing lack of clarity on who will be the top players in the country's economic team once President-elect Dilma Rousseff takes office Jan. 1, said Jankiel Santos, an economist with Espirito Santo Investment Bank. <br />
<br />
"Whether Guido Mantega will continue as finance minister is up in the air. Nobody's confirmed this, and there's lots of uncertainty on whether Henrique Meirelles will continue at Central Bank," Santos said. <br />
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"People are worried about who the players will be, and whether the Central Bank alone will dictate interest rates or if they'll be other players in these decisions too," the economist said. <br />
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<u><i>Major blue-chips were mostly lower at the end of the trading day. </i></u><br />
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Petroleo Brasileiro SA (PBR, PETR4.BR) closed 0.54% lower at BRL25.76. Miner Vale SA (VALE, VALE5.BR) shed 0.08% to close at BRL49.41. Steel maker Cia Siderurgica Nacional fell 0.14% to BRL28.56, while Gerdau SA shed 1.14% to BRL21.60.Telephone services company Telemar SA (TMAR5.BR) fell 0.49% to BRL48.79. Food company BRF Foods (BRFS3.BR) fell 0.68% to BRL24.75.<br />
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Brazilian miner Vale SA (VALE, VALE5.BR), the world's biggest iron ore producer, said Firday that storm damage to equipment at its Tubarao port in Espirito Santo state, southeast Brazil, isn't affecting iron ore shipments. Steelmaker Cia Siderurgica Nacional SA (CSNA3.BR, SID) fell 0.28% to BRL28.52. Airline Tam SA (TAMM4.BR)slipped 0.33% to BRL42.05. Vivo SA (VIVO4.BR), Brazil's biggest mobile phone operator, fell 0.90% to BRL52.75. Aircraft manufacturer Empresa Brasileira de Aeronautica SA (ERJ, EMBR3.BR) or Embraer, was one of few stocks to rise in early trading, increasing 0.98% to BRL12.42.<br />
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<span style="font-size: x-large;">ARGENTINA:</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Argentina Oct Trade Soars</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Surplus Seen At $925M</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Argentina likely posted a trade surplus nearing $1 billion in October, as both imports and exports surged due to strong domestic demand and soaring grain shipments. <br />
<br />
The median of three economists surveyed predicted a trade surplus of $925 million in October, down from the $1.1 billion surplus reported in September. The median forecast from economists and analysts polled by the Central Bank points to an October trade surplus of $986 million. <br />
<br />
<i><u>The national statistics agency Indec is slated to release the report on Tuesday at 2:00 p.m. EST. </u></i><br />
<br />
According to Moody's Analytics economist Juan Pablo Fuentes, imports in October surged 48% on the year to $5.4 billion as economic growth surged. The government expects gross domestic product to soar 9% this year. <br />
<br />
That brisk growth is fueling a sharp rise in domestic demand, which is outstripping local production capacity and spurring the sharp rise in imports, Fuentes said. The strong demand for imports is likely to continue through the rest of the year, he said. <br />
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Fuentes estimated that October's exports also jumped a solid 32% on the year to $6.3 billion. That steep gain is due mainly to rising commodity prices and the windfall from surprisingly large crops grown last season. <br />
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Argentina is one of the world's top grain exporters and soybeans make up its largest single export product. Strong demand from top trading partner Brazil for vehicles and vehicle parts also helped lift October's exports. <br />
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The trade balance has narrowed somewhat from last year, when it reached almost $17 billion. Over the last 12 months, Argentina's trade balance totaled $14 billion, as imports grew at a faster clip than exports.<br />
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<span style="font-size: x-large;">CHILE:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks End Higher</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Chile's blue-chip Ipsa index ended higher Friday as banks and retailers shot higher a day after third-quarter gross domestic product surged 7% on the year and as Chile's flagship carrier LAN Airlines (LFL, LAN.SN) jumped after expanding its fleet. <br />
<br />
The Ipsa ended 0.7% higher at 4965.17, while market volume fell to 65.5 billion Chilean pesos ($136.5 million), versus CLP117.8 billion the previous session. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Retail holding giant Cencosud (CENCOSUD.SN) rose 1.9% to CLP3,495.70 and department store Ripley (RIPLEY.SN) grew 2.3% to CLP700. <br />
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The nation's largest lender, Banco Santander Chile (SAN, BSANTANDE.SN), increased 1.5% to CLP44.03, while the country's second-biggest bank, Banco de Chile (BCH, CHILE.SN), expanded 2% to CLP70.37. <br />
<br />
LAN Airlines jumped 1.6% to CLP15,056.00 as the company said after the market closed Thursday it will rent three Boeing Co. (BA) 767-300F planes and purchase two 777F aircraft for its cargo fleet to keep up with growing regional demand.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MINING STRIKE CONTINUES </span><br />
Chilean copper mine Dona Ines de Collahuasi entered its 15th day Friday, management is hopeful that some workers will break away from the strike and return to work.<br />
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<span style="font-size: x-large;">MEXICO:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico Stocks Mark New Record</span><br />
<br />
Mexican stocks charged to a new record high Friday, spurred on by technical gains and advances in key blue chips. <br />
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The IPC index of leading Mexican shares advanced 279 points, or 0.8%, to 36601, a fresh closing high. Trading activity was moderate, with volume at 141.5 million shares worth 4.61 billion pesos ($376 million). <br />
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The IPC broke through its top level resistance of 36000 points in the previous session and managed to dismiss the unease in world markets Friday over the Chinese and European economies to chart additional gains. <br />
<br />
"The expectation is that the IPC will continue recovering until it hits its historic intraday high of 36800 points and later continue to the objective we project for the end of the year, of 38000 points," Mexican research firm MetAnalisis said in a note. <br />
<br />
Market bellwether and wireless operator America Movil's L shares rose 0.3% to MXN35.61 Friday as investors absorbed projections through 2014 that the company provided Thursday. Company officials expect capital expenditures to exceed $8 billion next year, well above the $6 billion capex guidance previously provided, with similar capex levels in each of the following three years. <br />
<br />
America Movil predicted annual revenue growth through 2014 of 6% to 8% coupled with an expansion in operating cash flow of 7% to 9% a year. Those projections were in line with market expectations. <br />
<br />
Among other active shares, cement group Cemex's CPOs rose 0.8% to MXN11.44, retailer Walmex's V shares jumped 2% to MXN34.64 and copper miner Grupo Mexico's B shares advanced 0.9% to MXN43.10. <br />
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Pharmaceuticals maker Genomma Lab said Friday it has agreed to pay MXN20 million for the license to make cold remedy brand XL-3, which had sales of MXN170 million in 2009. Genomma Lab B shares surged 3.6% to MXN27.84. <br />
<br />
Infrastructure company Pinfra, meanwhile, said Friday it will pay MXN350 million for the right to operate the Tlaxcala-San Martin Texmelucan federal highway for 30 years. Pinfra shares rose 0.9% in thin trade to close at MXN44.46. <br />
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The Mexican peso also gained Friday, strengthening to 12.2625 per dollar compared with MXN12.2950 at the close Thursday.<br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">European Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">European Markets were mostly down Friday. Spot gold was trading higher in Europe Friday as the euro continued to gain against the U.S. dollar. </div><br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">LONDON:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> FTSE 100 5732.83 -35.88 -0.62%<br />
FTSE 250 10827.11 -17.31 -0.16%<br />
DJ UK Smaller Companies 912.33 +0.38 +0.04%<br />
</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">London's FTSE 100 index lost 1.12 per cent in early trading. FTSE 100 ends off lows but still firmly in the red as uncertainty about Ireland persists. Banks are under pressure, with Standard Chartered -2.7% and Lloyds Banking Group -1.6%. Pressure on the sector is exacerbated by news that Allied Irish Banks will likely need to raise EUR6.6B in capital.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">U.K. Prime Minister David Cameron's enterprise adviser resigned Friday after making comments playing down the impact of the recession, Cameron's spokesman confirmed. Economists expect U.K. third quarter growth figures due in the week ahead to be unrevised from the preliminary estimate of 0.8% on a quarterly basis and 2.8% on the year.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">BP PLC's (BP) Russian joint venture TNK-BP Ltd. plans to double shipments of the new ESPO crude to the Asia-Pacific region next year and hopes to send more crude to U.S. refiners, company executives said in an interview. </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">WPP PLC (WPP.LN), the advertising giant, said Friday its Young & Rubicam Brands unit has acquired all the assets of TAXI Canada, Inc. in Canada, together with all the share capital of TAXI's wholly-owned subsidiaries in the United States and the Netherlands.</span><br />
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</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">AstraZeneca PLC (AZN) Friday confirmed it has hired JPMorgan Chase & Co. (JPM) to help it asses strategic options for Astra Tech, the drug maker's Swedish unit that makes dental implants and medical devices.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Cable-television and Internet provider Virgin Media Inc. (VMED) hasn't seen any impact from BT Group PLC's (BT.A.LN) new fiber-based BT Infinity broadband service, Chief Financial Officer Eamonn O'Hare said Friday.</span><br />
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</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">U.K. specialty pharmaceuticals company BTG PLC (BGC.LN) Friday said it has agreed to buy medical technology company Biocompatibles International PLC (BII.LN) in a GBP177.2 million cash and share deal it says will boost earnings and drive growth for the firm.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">GERMANY:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Frankfurt's DAX was down 0.24 per cent</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The merger of German auto makers Volkswagen and Porsche moves a step closer after Porsche says it will make disputed tax and interest payments on stock option transactions.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">IRELAND:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Dublin Stocks: ISEQ Ends +0.8% At 2,797; Bank Of Ireland +12%</span><br />
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<span style="font-size: x-large;">FRANCE:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The Paris CAC 40 declined 0.68 per cent. </span><br />
European aircraft maker Airbus said Thursday it will seek compensation from Rolls-Royce PLC (RR.LN) after one of the British manufacturer's engines failed on an Airbus A380 superjumbo operated by Australian airline Qantas (QAN.AU).<br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">Asian Pacific Markets:</span><br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">CHINA: </span></div><div style="font-family: Arial,Helvetica,sans-serif;">The Chinese government told banks they must hold more reserves after inflation in China shot up to a more than two-year high last month. Beijing and Hong Kong have unveiled a raft of measures to curb rising prices as both governments struggle to curb inflationary pressures in their economies.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">China's central bank announced Friday that it will raise reserve requirements for local banks by 50 basis points from Nov. 29, to strengthen liquidity management and better control credit growth and inflationary pressures. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">There is also growing expectation China will raise key interest rates soon as part of the inflation fight and that raises concerns such moves could also slow China’s strong economic growth. There have been strong hopes pinned on China and other emerging countries to help pull Western countries out of recession.<br />
<br />
Wuhan Iron & Steel Group, China's third-largest steel maker by output, is in discussions with Canada-listed Adriana Resources Inc. (ADI.V) on a stake in an iron-ore project in Quebec, the state-run China Daily reported Friday. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">SOUTH KOREA:</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Posco (005490.SE), the world's No. 3 steelmaker by output, is expanding its steel making capacity at home and abroad, saying Friday that it is building a hot-rolled coil plant in Korea to feed a cold-rolled coil plant in India.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">South Korea's Public Procurement Service, a state agency that stockpiles strategic commodities, has purchased 200 metric tons of nickel at a $925/ton premium to the prevailing London Metal Exchange price, the agency said on its website Friday.</span><br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(FRIDAY, NOV 19, 2010 3:15 PM EST)</b></i><br />
<br />
EUR/USD 1.3672 +0.0031 (0.23%)<br />
USD/JPY 83.5000 -0.0100 (-0.01%)<br />
GBP/USD 1.5974 -0.0072 (-0.45%)<br />
CAD/USD 0.9821 +0.0013 (0.14%)<br />
USD/HKD 7.7538 -0.0009 (-0.01%)<br />
USD/CNY 6.6398 +0.0068 (0.10%)<br />
AUD/USD 0.9856 -0.0045 (-0.45%)<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(FRIDAY, NOV 19, 2010 3:15 PM EST)</b></i><br />
Shanghai 2,888.57 +23.11 (0.81%)<br />
Nikkei 225 10,022.39 +8.76 (0.09%)<br />
Hang Seng Index 23,605.71 -31.68 (-0.13%)<br />
TSEC 8,306.12 +22.67 (0.27%)<br />
FTSE 100 5,732.83 -35.88 (-0.62%)<br />
DJ EURO STOXX 50 2,845.75 -9.48 (-0.33%)<br />
CAC 40 3,860.16 -7.81 (-0.20%)<br />
S&P TSX 12,941.11 +71.10 (0.55%)<br />
S&P/ASX 200 4,629.20 -11.00 (-0.24%)<br />
BSE Sensex 19,585.44 -345.20 (-1.73%)<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FRIDAY'S U.S. ECONOMIC CALENDAR:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>5:15 a.m.</b><br />
Fed Chmn Bernanke speaks about global rebalancing and participates in a panel discussion in Frankfurt, Germany <br />
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<b>Market Note: </b></div><div style="font-family: Arial,Helvetica,sans-serif;">This Friday, is options expiration day. No significant economic indicators scheduled. <br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, THUR., NOV. 18, 2010:</span><br />
<br />
Stocks:<br />
U.S. stocks soared as worries about Ireland's debt situation eased and General Motors made its long-awaited return to the Big Board. "The market's getting back what it lost over the last few days," said Steve Sosnick, equity risk manager at Timber Hill LLC/Interactive Brokers Group LLC. <br />
<br />
Treasurys:<br />
Treasurys fell as an upbeat U.S. manufacturing report and hopes of a bailout for debt-ridden Ireland cut demand for relatively safe assets. The Treasury market also faces new government debt supply next week. The Treasury Department said Thursday it will sell $99 billion next week in notes maturing in two-, five- and seven-years. <br />
<br />
Forex:<br />
The euro rose against the dollar Thursday as a rescue plan for fiscally impaired Ireland was thought to be imminent. But a much better-than-expected reading of business conditions in a key U.S. region helped the dollar recover some of its earlier losses against the euro. The data also sent the greenback higher against the yen, with the dollar rising above Y83.60 to levels not seen since Oct. 5.<br />
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© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved. </div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-62067292105287765322010-11-18T05:48:00.000-08:002010-11-21T16:47:21.935-08:00Stock Market Update - Thursday, November 18, 2010 - Dollar Down Choppy Outlook<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Thursday, November 18, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div class="separator" style="clear: both; font-family: Arial,Helvetica,sans-serif; text-align: center;"></div><div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>USA EQUITY INDEXES: (NOV. 18, 4:05 PM EST)</b></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b><br />
</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">Dow Jones 11,181.23 +173.35 (+1.57%)<br />
S&P 500 1,196.69 +18.10 (+1.54%)<br />
Nasdaq 2,514.40 +38.39 (+1.55%)<br />
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<b>Dow Jones 3:30 PM Averages: DJIA 11,185.66 UP 177.78</b><br />
30 INDUS 11,185.66 UP 177.78 OR 1.62%<br />
20 TRANSP 4,853.94 UP 94.28 OR 1.98%<br />
15 UTILS 399.03 UP 2.00 OR 0.50%<br />
65 STOCKS 3,890.29 UP 58.66 OR 1.53% <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>US COMMODITY PRICES: (NOV. 18, 4:05 PM EST)</b></i></div><span style="font-family: Arial,Helvetica,sans-serif;">Crude Oil 81.92 + 0.09%<br />
Natural Gas 4.03 + 0.45%<br />
Gasoline 2.23 -<br />
Heating Oil 2.30 -<br />
Gold 1353.81 + 1.31%<br />
Silver 26.98 + 5.56%<br />
Copper 3.78 + 1.45%</span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>US DOLLAR FUTURES INDEX DXY: NOV. 18, 4:08PM EST: 78.59 <span style="color: red;">Down 0.49 (0.62%)</span></b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. Stocks Up Dollar Down</span></div>U.S. Stocks were steady in late afternoon trading as the Dow jumped up almost 2 points off the 200 DMA. The dollar's decline boasted commodities and material providers throughout the World driving the S&P average to touch resistance at 1200.<br />
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In early morning trading the Dow gained more than 170 points as the dollar held below its Wednesday close. The Dow is touching resistance near the 11200 mark, and the S&P is at the 1200 range. That may be a near-term market top for the day. The materials, energy and industrial sectors led the broad index's gains. The technology-heavy Nasdaq Composite jumped 1.8% to 2520. <br />
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The market sentiment was led by General Motors successful market entry, as it started actively trading on the New York Stock Exchange under the ticker symbol "GM" and was recently up 8% at $35.63. GM's on pace for one of the biggest U.S. initial public offerings ever. Stock indexes held gains on Thursday after the government said new U.S. claims for unemployment benefits rose slightly last week. Among the top performers are Alcoa, jumping 4.6%, while American Express rose 2.5% and Caterpillar added 2.4%. <br />
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In early trading, the Dow Jones Industrial Average rose 167 points, or 1.5%, to 11175. Alcoa led the blue-chip index's gains, jumping 4.6%, while American Express rose 2.5% and Caterpillar added 2.4%. All 30 of the Dow components were trading in positive territory in early Thursday morning trading. <br />
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The Standard & Poor's 500-share index gained 1.7% to 1198, led by the materials, energy and industrials sectors. The technology-heavy Nasdaq Composite jumped 1.8% to 2520. <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><span style="font-family: Arial,Helvetica,sans-serif;">Stock futures pointed to a sharply-higher open Thursday as Wall Street welcomed the return of General Motors to the New York Stock Exchange.</span> <span style="font-family: Arial,Helvetica,sans-serif;">Unemployment data may impact the market open, but as of this posting stock index futures held gains on Thursday after the government said new U.S. claims for unemployment benefits rose slightly last week.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Before the bell, </span><span style="font-family: Arial,Helvetica,sans-serif;">US stock futures surged alongside global markets Thursday, pointing to a much stronger open. The dollar pulled back against most majors Thursday morning, as conditions improved in the global markets. The dollar's retreat followed news that the U.S. core consumer prices rose just 0.6 percent in October from a year earlier, the smallest rise in records kept since 1957.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The euro and Asian equities gained some respite after Ireland agreed to work with EU and IMF officials on steps to shore up its shattered banking sector.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PHILADELPHIA BUSINESS ACTIVITY </span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">SEES INCREASE</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The Federal Reserve Bank of Philadelphia said Thursday its November index of general business activity came in at 22.5 from 1.0 in October. It had been expected at 4.5. <br />
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The bank said that its new orders index was 10.4, from -5.0, while its shipments index hit 16.8, from 1.4. Meanwhile, hiring picked up, with the employment index at 13.3, after October's 2.4. <br />
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Inflation pressures quickened, with the prices paid index at 34.0, after 31.5 in October, while the prices received index was -2.1, from -9.0 the prior month. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Jobless Claims in U.S. Increase Less Than Forecast</span><br />
Weekly U.S. jobless claims rise 2,000 to 439,000 in reflection of slow hiring trends.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Initial unemployment claims rise by 2,000 to 439,000 in the week ended Nov. 13, better than economists' expectations of an 8,000 hike in new claims, but still a reminder of the continued weakness in the labor market.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US Conference Board Report</span></div><span style="font-family: Arial,Helvetica,sans-serif;">The U.S. economy is fixed for a modest pace of growth over coming months, according to an index designed to describe the economy's future path. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Private Research Group the Conference Board reported Thursday that its composite index of leading economic indicators rose by 0.5% in October, matching the revised increase seen the prior month. The increase in the key economic barometer was a little short of the 0.6% gain forecasters had been expecting. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The overall index rose on the back of financial forces. Six of the 10 measures making up the index were positive, lead by interest rate spreads, stock prices and real money supply. The Conference Board noted that the six-month change in the index was a 1.6% gain, a moderation from the 4.6% annualized gain seen over the prior six month period. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"The LEI remains on an upward trend, suggesting the modest economic expansion will continue in the near term," said Conference Board economist Ataman Ozyildirim. "The LEI's growth has been slowing this year, but gains in the financial components helped its pickup in October." </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The October LEI data fit in with the broad consensus of forecasters the economy will continue to grow over coming quarters. But the problem is that rate of growth is expected to come in right around the economy's long term trend rate, which means there will not be enough of an expansion to lower high unemployment rates much. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">That tepid rate of growth is why the Federal Reserve has embarked on its controversial campaign to buy longer dated government bonds, in a bid to make the expansion faster than it would otherwise be. </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">EQUITIES:</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Among stocks in focus, Sears Holdings dropped 3.7% after its fiscal third-quarter loss widened more than analysts expected as margins fell and sales dropped, especially at the company's namesake stores. <br />
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Food company J.M. Smucker's fiscal second-quarter earnings climbed 6.9% on higher margins and topped analysts' expectations, but revenue was surprisingly flat. Smucker also raised its target for the year by five cents. Smucker shares edged 2% lower. <br />
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Office-products retailer Staples' fiscal third-quarter profit rose 7.2% as sales and margins showed modest improvement. Shares rose 2.9%. <br />
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Dollar Tree's fiscal third-quarter earnings rose 37% as the discount retailer reported stronger-than-expected sales growth. The company narrowed its profit target for the year and boosted revenue expectations, while anticipating same-store sales up by the low- to mid-single digits on a percentage basis. Shares rose 2.9%. <br />
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In deal activity, Cardinal Health said it will buy privately held pharmaceutical distributor Kinray Inc. for $1.3 billion. Cardinal Health, the second-biggest drug distributor in the U.S. by market value, is looking to boost its presence in smaller pharmacies in the northeastern U.S. Shares rose 4.4%.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">DELL and The GAP Reported Earnings After Hours</span><br />
<span style="font-size: large;"><i><b><span style="font-family: Arial,Helvetica,sans-serif;">Dell Jumps 7.1% after hours as it resumes trading. </span></b></i></span><br />
<span style="font-size: large;"><i><b><span style="font-family: Arial,Helvetica,sans-serif;">The Gap declined after hours as sales were reported as flat. </span></b></i></span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">Dell Inc.'s (DELL) fiscal third-quarter earnings more than doubled on strong international corporate demand and supply-chain efforts that helped boost margins, with profit handily topping analysts' expectations. Dell reported a profit of $822 million, or 42 cents a share. Shares closed at $13.66. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">Dell has seen notable year-to-year improvement of late in its sales of desktop PCs as well as notebooks and other mobile devices, as customers have begun easing their grip on their wallets, though the threat of high unemployment looms. That has kept consumer demand in check; such revenue rose 4% on year for Dell. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Market researcher iSuppli Corp. said in September that Dell regained its No. 2 rank on the global PC maker ladder during the second quarter. </span> <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Gap 3Q Profit Down 1.3% On Margin Drop</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Shares of Gap were down 2.1% at $20.47 after hours as margins fell and the company said it would close fewer stores than previously planned. The company posted a profit of $303 million, down from $307 million year earlier. On a per-share basis, the bottom line rose to 48 cents from 44 cents because the latest quarter had 11% fewer shares outstanding. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">The Gap is now predicting it will close 100 stores. Of all Gap's operations, only lower-priced Old Navy saw same-store sales decline, though it had the toughest comparison of all the divisions. It reported a 2% drop versus a 10% increase last year. Namesake North American stores and upscale Banana Republic both reported a 1% climb, while international same-store sales were up 3%.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">GM'S PUBLIC DEBUT Shares On Sale </span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">GM SHARES RISE IN EARLY TRADING AFTER RAISING $20.1B</span><span style="font-family: Arial,Helvetica,sans-serif;"><i><b>GM SHARES JUMP TO $35.90 A SHARE BEFORE SETTING AT $33.90 </b></i></span><span style="font-family: Arial,Helvetica,sans-serif;"><br />
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The auto maker's shares climbed 7% after it prices its initial public offering at $33 per share, raising $20.1 billion. Offering raises 50% more than originally expected on a higher price and the share amount than original expectations.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">General Motors Co (GM) pulled off the biggest initial public offering in U.S. history on Wednesday, raising $20.1 billion after pricing shares at the top of the proposed range in response to huge investor demand.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Including an option that would allow underwriters to sell more shares, expected to be exercised in coming days, GM looks set to raise $23.1 billion, making it the biggest initial public offering ever.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The strong response to the stock sale reflects a groundswell of investor confidence that GM is moving beyond its unpopular, taxpayer-funded bankruptcy in June 2009 with sharply lower costs and higher profit potential.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The government's stake in GM will drop to about 33 percent from 61 percent if all available shares are sold.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">China ACM and China Construction Sign Strategic Alliance</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">China Advanced Construction Materials Group, Inc. (NASDAQ: CADC)</span> <span style="font-family: Arial,Helvetica,sans-serif;">a leading provider of ready-mix concrete and related technical services in China, today announced that China State Construction Engineering Corporation ("China Construction" or "CSCEC") (Shanghai SE: 601668) and the Company have signed a strategic alliance letter of intent. With annual revenue of $38 billion, CSCEC is ranked number 187 in the Fortune Global 500 list of companies.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Sears Third-Quarter Loss Misses Estimates</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Sears Holdings Corp., the largest US department-store chain, said its third-quarter loss widened as consumers remained cautious amid high levels of unemployment. The net loss widened to $218 million, or 1.98 a share, from $127 million, or $1.09, a year earlier.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINESE AUTO RETAILER </span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TO LAUNCH US IPO </span></span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Chinese Auto Retailer Lentuo Files To Hold $115M IPO In US</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">Chinese auto retailer Lentuo International Inc. announced plans to sell up to an estimated $115 million of American depositary shares in a U.S. initial public offering. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Lentuo, which calls itself the country's largest nonstate-owned auto retailer in Beijing, operates six dealerships, 10 showrooms, one repair shop and one car leasing company in the capital region. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">It plans to use proceeds from the IPO to fund growth and upgrade efforts while also developing fleet-car leasing and used-car sales. For the first half of the year, Lentuo reported a 35% increase in profit to CNY67.4 million ($9.9 million) as revenue grew 21% to CNY1.31 billion. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">A number of Chinese companies have had successful U.S. IPOs in recent weeks, including automobile marketing website operator Bitauto Holdings Ltd. (BITA), whose stock rose 3.8% in its trading debut Wednesday. Lentuo said its ADS have been approved for listing on the New York Stock Exchange under the symbol LAS.</span> <br />
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</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CRUDE OIL:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>U.S. Crude Oil: $81.92 per barrel</b></i><br />
OIL FUTURES: Nymex Crude Settles Up $1.41 At $81.85/Bbl </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Light, sweet crude for December delivery settled $1.41, or 1.8%, higher at $81.85 a barrel on the New York Mercantile Exchange. The contract expires at settlement Friday. Brent crude on the ICE futures exchange traded $1.82 higher at $85.10 a barrel.<br />
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Front-month December reformulated gasoline blend-stock, or RBOB, settled 7.04 cents, or 3.3%, higher at $2.2283 a gallon. December heating oil settled 4.32 cents, or 1.9%, higher at $2.2951 a gallon.<br />
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</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NATURAL GAS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Natural Gas: $4.01</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div></div><div style="font-family: Arial,Helvetica,sans-serif;">Gas futures declined Thursday after the EIA natural gas storage report was issued at 10:30 EST showing another record build in domestic inventories.Natural gas futures ended lower Thursday after U.S. inventories hit another record high in data from the Energy Information Administration. <br />
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Natural gas for December delivery settled 2.3 cents, or 0.6%, lower at $4.007 a million British thermal units on the New York Mercantile Exchange. Gas production is also holding steady despite low prices, as companies drill in new, energy-rich shale-rock formations. <br />
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Gas in storage rose by 3 billion cubic feet in the week ended Nov. 12, according to government data. That was less than the 8 bcf addition expected in a Dow Jones survey, but still enough to raise inventories to a record high of 3.843 trillion cubic feet.<br />
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</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">PRECIOUS METALS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Gold: $1,355</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Silver:$26.96</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Comex gold futures settled in positive territory Thursday as a weaker dollar and a more certain outlook for Ireland's debt woes drew investors back into the precious metals market. <br />
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The most actively traded contract, for December delivery, settled up 1.2%, or $16.10, at $1,353 per troy ounce on the Comex division of the New York Mercantile Exchange.<br />
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<b>Settlements (<i>Range Include Floor and Electronic Trading</i>):</b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
London PM Gold Fix: $1,350.25; previous PM $1,337.50<br />
Dec gold $1,353.00, up 16.10; Range $1,334.00-$1,359.00<br />
Dec silver $26.834, up $1.323; Range $25.590-$27.040<br />
Jan platinum $1,663.90, up $23; Range $1,634.50-$1,671.90<br />
Dec palladium $655.50, up $40.65; Range $661.70-$698.55</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. TREASURYS/BONDS:</span></div><span style="font-family: Arial,Helvetica,sans-serif;">The benchmark 10-year Treasury note was 5/32 lower to yield 2.901%. Bond prices move inversely to their yields. The 10-year yield pushed up to near a 3% yield. The Fed bought $7.228 billion Thursday in short-dated Treasurys. It is part of the Fed's $600 billion bond-buying program. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">3 Month 0.12% 0.00 (0.00%)<br />
6 Month 0.17% 0.00 (0.00%)<br />
2 Year 0.50% +0.01 (2.04%)<br />
5 Year 1.53% +0.03 (2.00%)<br />
10 Year 2.93% +0.03 (1.03%)<br />
30 Year 4.30% +0.02 (0.47%)</span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NEW YORK TO LAYOFF 10,000 </span><br />
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New York City agencies will be taking a $585 million budget hit this fiscal year and another $1 billion in the year starting July 1 as Mayor Michael Bloomberg's office released a plan that calls for the layoffs of some 10,000 workers. <br />
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Bloomberg's office issued an updated four-year financial plan that still leaves a $2.4 billion deficit to be addressed for the coming fiscal year, down from $3.3 billion in the previous forecast. The city's latest actions will result in 2,102 layoffs this fiscal year and 8,264 in the next one. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TRADEWEB LAUNCHES</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Tradeweb Unveils First Fully Electronic, Cleared US Rate Swap</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Tradeweb, an online derivatives marketplace, has become the first trading venue in the U.S. to facilitate execution of a fully electronic interest-rate swap that was then processed by a central clearinghouse. <br />
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The trade signifies how over-the-counter derivatives could be traded once new financial regulations under the Dodd-Frank Act become effective next year. The Act will force standardized OTC derivatives to be traded on exchanges or alternative venues called "swap execution facilities" to promote price transparency. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">This week's U.S. dollar-denominated rate swap involved an unidentified U.S. asset manager and Deutsche Bank acting as both the dealer and the executing broker giving up the trade to the clearinghouse, CME Group.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Tradeweb supports electronic trading for a range of markets including interest rate derivatives and credit derivatives index products, global government bonds, U.S. agency mortgages, U.S. agency debentures, and money market products such as commercial paper. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Toronto Stocks Higher </span><br />
The stock market was higher at midday Thursday, led by commodity producers, as the prospect of a bailout for Ireland and a declining dollar's drive in commodities activity lifted overall sentiment. <br />
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The S&P/TSX Composite Index was up 205.74 points, or 1.6%, at 12863.57. Advances led declines 1030 to 376. Trading volume was 254.9 million shares. The S&P/TSX 60 Index was up 11.38 points, or 1.6%, to 737.03.<br />
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<b>Toronto Indexes, Volume; 4:05 PM EST Composite Up 212.18</b><br />
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S&P/TSX Composite 12870.01 up 212.18 or 1.7%<br />
S&P/TSX 60 Index 737.59 up 11.94 or 1.6%<br />
Financials 181.23 up 3.04 or 1.7%<br />
Materials 417.90 up 9.22 or 2.3%<br />
Energy 298.56 up 6.49 or 2.2%<br />
Industrials 107.52 up 1.09 or 1.0%<br />
IT 29.78 up 0.20 or 0.7%<br />
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Volume Thursday Wednesday<br />
3-4:15 88.6M 78.3M<br />
9:30-4:15 509.3M 424.7M</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">South American Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: x-large;">BRAZIL:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Close Higher</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Brazil's benchmark Ibovespa stock index closed 1.54% higher at 70781 points. Volume was moderate at 6.53 billion Brazilian reais ($3.8 billion). </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Brazil's economy is booming, with gross domestic product expected to expand 7.5% this year. Duarte said the Ibovespa index could top 73000 points before the end of 2010. <br />
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Brazilian shares also advanced Thursday because of rising global commodities prices, traders said. High commodities prices boost export revenue for major Brazilian companies. <br />
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<i><b>Blue chips were mostly higher at the close Thursday. </b></i><br />
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State oil company Petrobras rose 1.77% to close at BRL25.90 on higher international oil prices. Mining major Vale saw its shares advance 2.36% to BRL49.45 as global metals prices rose. Telecom leader Tele Norte Leste Participacoes, or Oi, gained 0.36% to close at BRL25.04. Steelmaker Usiminas gained 1.31% to BRL21.62. Steel rival CSN rose 1.38% to BRL28.60. Aircraft manufacturer Embraer rose 0.41% to BRL12.30.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">BRAZIL INVESTORS PUSH FOR CANADA MINES</span></div>The announcements of two high-profile mining investments by Brazilian companies in Canada show that some resource investors are undeterred by the Canadian government's recent rebuff of Anglo-Australian miner BHP Billiton's bid for Potash Corp. of Saskatchewan.<br />
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<span style="font-size: x-large;">ARGENTINA:</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Argentina's Consumer Confidence Up 10.6%</span></div><br />
Argentina's consumer confidence rose in November, reaching its highest level since President Cristina Fernandez assumed office in 2007, Torcuato di Tella University (UTDT), said in a report Thursday. <br />
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The UTDT consumer confidence index surged 10.6% from the previous month and was up 36.7% from a year earlier. Wealthy consumers saw their confidence rise 11.4% on the month in November, while the poorest consumers saw their confidence rise 10.1% on the month. <br />
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The survey also pointed to increasing optimism over economic prospects. The index of macroeconomic expectations jumped 18.9% on the month, while the index measuring prospects for people's personal situation rose 8.9% and the real estate expectations index rose 3.6% on the month. <br />
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Despite the positive expectations, consumers continue to be worried about inflation, which is surging amid the strong growth and heavy government spending. <br />
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According to a separate UTDT survey, Argentines are expecting prices to rise by 30% over the next 12 months, in line with inflation expectations from a month earlier. <br />
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<span style="font-size: x-large;">CHILE:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Close Higher</span>Chile's blue-chip Ipsa index ended higher Thursday as gross domestic product surged and global equity markets shot higher on improved sentiment. <br />
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The Ipsa ended 0.6% higher at 4931.35, while market volume grew to 117.8 billion Chilean pesos ($245.3 million), versus CLP109.8 billion the previous session.<br />
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Among retailers, which have pushed the Ipsa to its record run this year on the back of surging domestic demand, holding giant Cencosud (CENCOSUD.SN) rose 0.5% to CLP3,435.00, department store La Polar (LAPOLAR.SN) jumped 1.6% to CLP3,600.00 and retailer Ripley (RIPLEY.SN) increased 0.6% to CLP684.00.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Pulp and paper producer CMPC (CMPC.SN) grew 1.1% to CLP26,902.00, integrated steel and iron ore producer Cap (CAP.SN) gained 1.5% to CLP25,242.00, specialty chemical and fertilizer producer SQM's (SQM) more liquid B-series shares rose 0.7% to CLP24,358.00, and fuel and forestry conglomerate Copec (COPEC.SN), the Ipsa's heaviest-weighted share, increased 0.5% to CLP9,476.00. <br />
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The peso ended stronger against the dollar as GDP surged. The peso ended at CLP480.20 to the dollar, compared with Wednesday's close of CLP483.40, while trading in a range of CLP479.60 to CLP482.00. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile 3Q GDP Grows 7.0%</span></div>GDP in the first and second quarters grew 1.6% and 6.6%, respectively, the bank said, revising previously reported gains of 1.5% and 6.5% for the same quarters. <br />
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The central bank said July-September 2010 had one fewer business day than the same period last year, which cut growth by 0.2 percentage points. <br />
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Domestic demand, which has fueled the recovery along with surging investments, grew 18.2% year-on-year in the third quarter. On a seasonally adjusted basis, GDP grew 2.0% from the previous quarter, the central bank reported.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Investments, meanwhile, as measured by gross fixed capital formation, grew 18.5% on the year in the third quarter, with investment in machinery and equipment surging 35.4% as the country continues to rebuild following the 8.8-magnitude earthquake in late February. <br />
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The monetary authority also reported that for the third quarter, the country posted a current account deficit of $416 million, equivalent to 0.9% of GDP. <br />
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Chile's trade balance surplus reached $3.75 billion in the quarter, with exports and imports gaining 29.5% and 40.4%, respectively, on the year.<br />
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<span style="font-size: x-large;">MEXICO:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexico's Stocks Close Higher</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Mexico's IPC index of leading shares rose 1.3% to 36322 on volume of 5.43 billion pesos ($442 million), putting it within a few hundred points of its last record-high finish, 36543, reached on Nov. 8. Technical analysts say that a close above 36000 points puts the IPC back on an upward trajectory for the near term.<br />
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Among active Mexican shares, wireless communications firm and market bellwether America Movil's (AMX) L shares advanced 1.3% to MXN35.52, cement group Cemex's (CX) CPOs finished up 2.2% to MXN11.35 and copper miner Grupo Mexico's (GMEXICO.MX) B shares gained 2.7% to MXN42.71, aided by a rise in copper prices.<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Mexico Unlikely To Try To Depreciate Currency</span></div><br />
Bank of Mexico Deputy Governor Manuel Sanchez Thursday said the central bank was unlikely to take steps to weaken the peso because the benefits of a floating exchange rate outweigh any short-term gain the move could bring.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Mexico has been less worried about currency gains than many of its emerging market peers, which have seen their currencies strengthen due to big investment flows after the U.S. Federal Reserve's decision to ease policy. <br />
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To halt their currencies' rise, some emerging countries like Brazil have introduced capital controls. Others, like China, have continued to intervene in foreign exchange markets to fix the level of their currency. China and Brazil worry a strong currency could hurt exports and their economies. <br />
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Bank of Mexico Governor Agustin Carstens said this month that Mexico could consider measures if flows are sustained with a strengthening effect on the peso, but was generally supportive of the Fed actions aimed at shoring up the U.S. economic recovery, which would benefit Mexico. Finance Minister Ernesto Cordero said the government is comfortable with the current exchange rate level set by the market. <br />
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Mexican officials have come out strongly against capital or exchange controls, and measures that may be considered are an increase in reserves accumulation through an existing mechanism of put options, or eventual monetary easing.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European Stocks Close Higher</span></div>The Stoxx Europe 600 index closed up 1.4% at 271.15. The U.K.'s FTSE 100 index rose 1.3% to 5768.71, France's CAC-40 index ended up 2% at 3867.97 and Germany's DAX added 2% to 6832.11. <br />
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<span style="font-size: x-large;">IRELAND:</span><br />
<i><b>Dublin Stocks: ISEQ Ending +2.7% At 2,764; Bank Of Ireland +7.5%</b></i><br />
IRISH BANK SHARES SHARPLY HIGHER ON ANTICIPATED BAILOUT<br />
Shares of Irish banks are sharply higher as discussions between European and Irish officials on a possible bailout intensify. Banks could end up directly receiving a large loan from the European Union and the International Monetary Fund.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: x-large;">Asian Pacific Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Asian Stocks Rebound</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The dollar fell against the euro on Thursday after subdued U.S. inflation supported the Federal Reserve's case for quantitative easing, while Asian shares rebounded after an eight-day sell-off. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">CHINA:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Shanghai shares rose 0.9 percent (SSEC) and Hong Kong equities gained 1.7 percent (HKSE) as investors picked up beaten down shares, although sentiment remained fragile as worries persisted that China may adopt steps to curb inflation including more aggressive hikes in key interest rates.<br />
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Chinese rail companies learned their trade from the likes of Kawasaki and Siemens are now vying against their former partners in the burgeoning global market for super-fast train systems </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">JAPAN:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Japanese equities outperformed their Asian peers, with the Nikkei (Osaka:N225) up 2.1 percent to a five-month high of 10,013.63.The yen's recent dip against the dollar also helped boost Japan's benchmark index. The dollar held steady at 83.21 yen, near a six-week high of 83.60 yen hit on Tuesday.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">AUSTRALIA:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Australian shares rose 0.3 percent (ASX:AXJO) as major miners BHP Billiton (ASX:BHP.AX) and Rio Tinto (ASX:RIO.AX) rebounded with a recovery in copper prices and Chinese stock markets.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>(THURSDAY, NOV 18, 2010 1:30 PM EST)</b></i></div><span style="font-family: Arial,Helvetica,sans-serif;">EUR/USD 1.3617 +0.0088 (0.65%)<br />
USD/JPY 83.6500 +0.4200 (0.50%)<br />
GBP/USD 1.6009 +0.0101 (0.63%)<br />
CAD/USD 0.9831 +0.0065 (0.67%)<br />
USD/HKD 7.7532 -0.0030 (-0.04%)<br />
USD/CNY 6.6330 -0.0085 (-0.13%)<br />
AUD/USD 0.9888 +0.0081 (0.83%)</span><br />
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</div><div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: x-large;">WORLD MARKETS SNAPSHOT:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>(THURSDAY, NOV 18, 2010 1:30 PM EST)</b></i></div><span style="font-family: Arial,Helvetica,sans-serif;">Shanghai 2,865.45 +26.59 (0.94%)<br />
Nikkei 225 10,013.63 +201.97 (2.06%)<br />
Hang Seng Index 23,637.39 +422.93 (1.82%)<br />
TSEC 8,283.45 +27.91 (0.34%)<br />
FTSE 100 5,768.71 +76.15 (1.34%)<br />
DJ EURO STOXX 50 2,855.23 +52.53 (1.87%)<br />
CAC 40 3,867.97 +75.62 (1.99%)<br />
S&P TSX 12,865.67 +207.84 (1.64%)<br />
S&P/ASX 200 4,640.20 +15.90 (0.34%)<br />
BSE Sensex 19,930.64 +65.50 (0.33%)</span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: x-large;">THURSDAY'S U.S. ECONOMIC CALENDAR:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>8:30 a.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Nov 13 Unemployment Insurance Claims Report - Initial Claims Weekly Jobless Claims (expected 443K), Net Change (expected +8K), Cont Jobless Claims (prior week) (previous 4301000), Net Chg (prior week) (previous -86K)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>10:00 a.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Nov Philadelphia Fed Business Outlook Survey Business Activity (expected 4.5), Prices Paid (previous 31.5), Employment (previous 2.4), New Orders (previous -5), Prices Received (previous -9), Delivery Times (previous -0.3), Inventories (previous -18.6), Shipments (previous 1.4)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>10:00 a.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Oct Leading Indicators Leading Index (expected +0.6%), Coincident Index (previous 0%), Lagging Index (previous +0.4%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>10:00 a.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Nov 6 DJ-BTMU Business Barometer (previous -0.1%), (52 Wk) (previous +4.3%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>10:30 a.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Nov 12 EIA Natural Gas Storage Report Total Working Gas in Storage (previous 3840B), (Net Change) (previous +19B)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>1:00 p.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Fed Gov Warsh speaks in Chicago</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>1:30 p.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Minneapolis Fed Pres Kocherlakota speaks in Chicago.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>1:30 p.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Cleveland Fed Pres Pianalto speaks in Cleveland, Ohio.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>4:30 p.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Nov 17 Foreign Central Bank Holdings Foreign US Debt Holdings (previous 3.33T), US Foreign Agency Holdings (previous 729.42B), Foreign Treasury Holdings (previous 2.6T)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>4:30 p.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Philadelphia Fed Pres Plosser speaks in Washington.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>4:30 p.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Nov 17 Foreign Central Bank Holdings</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>4:30 p.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Nov 17 Federal Discount Window Borrowings Primary Credit Borrowings (previous 10M), W/E Daily Avg (previous 13M), Discount Window Borrowings (previous 46.68B), W/E Daily Avg (previous 46.7B)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>4:30 p.m.</b></div><div style="font-family: Arial,Helvetica,sans-serif;">Nov 8 Money Stock Measures </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>Financial Conferences:</b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Among the significant conferences this week are Bank of America Merrill Lynch Credit Conference on Wednesday and Thursday in New York; and Deutsche Bank Securities Media and Telecommunications Conference on Wednesday and Thursday in Miami. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: large;">US STOCK MARKET SUMMARY, WED., NOV. 17, 2010:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Stocks:</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Stocks were mixed, with the Dow falling and the Nasdaq Composite rising as gains among retailers offset sinking financials. Consumer-discretionary stocks were strong after a second-consecutive day of encouraging results from big-box retailers. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">Treasurys:</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Longer-dated Treasurys fell as investors cashed out of the rally ahead of new government debt supply. "Treasury positions accumulated over the past few months in anticipation of [Fed bond-buying program] are now being reduced. That selling is overwhelming the actual buying by the Fed," said Alan De Rose at Oppenheimer. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Forex:</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The euro bounced back after surprisingly weak U.S. economic data bolstered the Federal Reserve's recent arguments for quantitative easing. The dollar's losses helped stem a recent tide of negative momentum for the euro based on the sovereign-debt crisis in Ireland and deflected further moves to the safe-harbor dollar. But even with the disappointing data, the euro continues to trade near seven-week lows against the dollar, while the U.S. currency is trading against the yen at highs last seen in early October. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-39800987571422305872010-11-17T06:22:00.000-08:002010-11-21T16:48:20.867-08:00Stock Market Update - Wednesday, November 17, 2010 Choppy Trend<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Wednesday, November 17, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: x-large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div class="separator" style="clear: both; font-family: Arial,Helvetica,sans-serif; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>USA EQUITY INDEXES: (NOV. 17, 4:05 PM EST)</b><br />
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<b>(WEDNESDAY'S CLOSING INDEX NUMBERS)</b><br />
Dow Jones 11,007.88 <span style="color: red;">-15.62 (-0.14%)</span><br />
S&P 500 1,178.59 <span style="color: #38761d;">+0.25 (+0.02%)</span><br />
Nasdaq 2,476.01 <span style="color: #38761d;">+6.17 (+0.25%)</span><br />
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<b>Dow Jones 3:30 PM Averages: DJIA 11,015.22 DN 8.28</b><br />
30 INDUS 11,015.22 DN 8.28 OR 0.08%<br />
20 TRANSP 4,762.48 UP 12.49 OR 0.26%<br />
15 UTILS 397.04 DN 0.25 OR 0.06%<br />
65 STOCKS 3,833.73 UP 1.20 OR 0.03%</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<i><b>US COMMODITY PRICES: (NOV. 17, 4:05 PM EST)</b></i><br />
Crude Oil 80.49 + 0.06%<br />
Natural Gas 4.03 -<br />
Gasoline 2.16 + 0.26%<br />
Heating Oil 2.25 -<br />
Gold 1336.31 - 0.26%<br />
Silver 25.64 + 0.87%<br />
Copper 3.73 -<br />
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<i><b>US DOLLAR FUTURES INDEX DXY: NOV. 17, 5:00PM EST: 79.05 <span style="color: red;">Down 0.16 (0.21%)</span></b></i></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Stocks Flat, Dollar Choppy Decline</span></div><div style="font-family: Arial,Helvetica,sans-serif;">The dollar relaxed its gaining momentum after overnight trades moved it up against other trading pairs. The euro moved up a small gain against the dollar Wednesday, helped by a weak US economic data. <span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Today's EURUSD and AUDUSD rallies were corrective in nature. The British Pound rallied to a high of 1.5936 on Wednesday as the economic docket reinforced an improved outlook for the U.K. The US Dollar, however, is likely to continue strengthening against the Euro and other key counterparts amidst an important correction in FX Futures and Options sentiment. We have long argued that bearish sentiment extremes pointed to USD strength, and indeed we have seen signs that the currency may have set an important bottom through recent trade.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Dow Jones Industrial Average fell for the fourth day that saw the markets dragged down by a rising dollar and financial stocks. The blue-chip index was able, however, to finish above the 11000 mark, helped by strong earnings by retailers. The Dow Jones Industrial Average fell 12 points to trade at 11007, while the Standard & Poor's 500-stock index rose less than one point to 1178 and the Nasdaq Composite gained six points to 2476. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Consumer-discretionary stocks were showing gains after a second consecutive day of encouraging results from big-box retailers. </span> <br />
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US stocks held their ground, trading modestly in positive territory. Crude oil futures were lower and gold futures were higher on Wednesday, after separate reports showed a drop in consumer prices and in housing starts in October. Crude oil for January delivery was down 1 cent at $82.76 a barrel. Gold for December delivery rose $1.60, or 0.1%, to $1,340 an ounce. The Dow Jones Industrial Average fell 14 points to 11009 in early trading, while the Standard & Poor's 500-stock index fell 2 points to 1176.75. The Nasdaq Composite gained 2 points to 2472. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: large;">EQUITIES:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Dow Jones Industrial Average components and nearly two dozen other companies in the Standard & Poor's 500 Index will report quarterly results this week. Target Corp. (TGT) will post results Wednesday, followed by Gap Inc. (GPS) and Sears Holding Corp. (SHLD) on Thursday.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Target gained 3.9% after third-quarter earnings rose 23%, beating analysts' forecasts. BJ's Wholesale Club added 2% after reporting a 32% earnings jump and raising its full-year earnings forecast. <br />
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The pair of strong profit reports comes a day after Wal-Mart Stores and Home Depot posted positive earnings reports, though those two stocks were among the weakest of the Dow components, falling 1.1% and 1.7% respectively after their Tuesday gains. <br />
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Other retailers were among the best-performing stocks, with Coach adding 4.1%, Office Depot gaining 3.6% and Kohl's rising 3.4%.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Financial stocks declined after The Wall Street Journal reported that the Federal Deposit Insurance Corp. is conducting about 50 criminal investigations of former executives, directors and employees at U.S. banks that have failed since the start of the financial crisis. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Bank of America and JP Morgan Chase fell 1.1% each, while Regions Financial dropped 3.6%, Keycorp sank 2.4% and Wells Fargo declined 1.1%.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">GlaxoSmithKline's American depositary shares gained 2.9% after reports that a Food and Drug Administration panel backed approval of a new lupus drug jointly developed by Glaxo and Human Genome Sciences. Shares of Human Genome Sciences, however, fell 1.1%.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Philip Morris International Inc. (PM) said cigarette sales volumes will remain challenged and that the company will focus more on emerging markets for growth opportunities. The world's second-largest cigarette maker by volume, Philip Morris International has seen volume decline amid economic upheaval in Europe and "disruptive" tax increases in Greece, Japan, Turkey and Ukraine as countries seek to plug budget gaps. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">GAP STORES TO OPEN IN CHILE </span></span><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">The Gap To Open First South America Store In Chile</span></b></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Gap Inc. (GPS) announced a franchise agreement to bring its namesake chain to South America as the retailer continues its push to boost its international footprint. <br />
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The franchise deal announced Wednesday with an entity called Komax will result in the first Gap brand store opening in Santiago, Chile, in September. It gives Gap Inc. such deals on six continents and 25 countries. <br />
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At the end of October, Gap had 165 franchise stores in 23 countries throughout Asia, Eastern Europe, Latin America, the Middle East and Australia. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">TARGET SALES CLIMB</span></div><span style="font-family: Arial,Helvetica,sans-serif;">TGT - Target Corp. reported Wednesday a better-than-expected 23% increase in third-quarter profit, after the No. 2 U.S. discount retailer more than doubled its credit-card segment income and expanded fresh food assortments to boost sales.<br />
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The company (TGT 53.79, -0.37, -0.68%), which in mid-October began to give a 5% discount on most purchases made with its Target credit and debit cards to lift demand, also forecast fourth-quarter comparable sales would be the best in the past three years. </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. BANKS WARNED ON MITIGATION COSTS</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">U.S. banks need to maintain sufficient capital cushions to cover any losses associated with foreclosure paperwork problems, regulators are warning.</span> <span style="font-family: Arial,Helvetica,sans-serif;">John Walsh, acting comptroller of the currency, said regulators are examining potential losses by banks due to allegations that their use of falsified paperwork caused some struggling borrowers to be illegally evicted from their homes.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"We are directing banks to maintain adequate reserves for potential losses and other contingencies and to make appropriate disclosures," Walsh said in prepared testimony released on Wednesday. The testimony is to be delivered to a House Financial Services subcommittee on Thursday.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Federal Reserve Governor Elizabeth Duke, also in prepared testimony, said regulators' on-site review of major banks will be completed by the end of the year, and bank agencies will publicly release their findings in early 2011.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Fed and other regulators are trying to understand the scope of the problem and potential impact to the economy, she said.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">"Delays and uncertainty resulting from flaws in the foreclosure process have the potential to delay recovery in housing markets and to undermine confidence in our financial and legal systems," Duke said.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Banks are accused of having used "robo-signers" to sign hundreds of foreclosure documents a day without proper legal reviews, a fiasco that reignited public anger with banks that received billions of dollars in taxpayer aid during the financial crisis.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The foreclosure practices of Bank of America, JPMorgan, Ally Financial and Wells Fargo are being scrutinized by bank regulators, all 50 state attorneys general, and the Department of Justice.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Duke said banks with widespread foreclosure procedure problems may be subject to fines and fees in addition to the costs of correcting the errors.</span> <span style="font-family: Arial,Helvetica,sans-serif;">Walsh also said regulators have a range of enforcement options, including criminal referrals, where appropriate.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Duke said the Fed is also evaluating the potential macroeconomic effects of foreclosure documentation problems to the mortgage and housing markets.</span> <span style="font-family: Arial,Helvetica,sans-serif;">She said the Fed expects about 2.25 million foreclosure filings this year and again next year, and about 2 million more in 2012.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FED SEEKS NEW STRESS TEST FOR BANKS</span><br />
Federal Reserve will require all 19 banks that underwent stress tests during the height of the financial crisis to undergo another review of their capital and their ability to absorb losses under an "adverse" economic scenario..</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US NEW HOMES SALES DECLINED</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Lowest level in 18 months.</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><b>U.S. housing starts fall nearly 12% in October. </b></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Construction of new U.S. homes sank 11.7% to an annualized rate of 519,000 in October, the lowest level in 18 months, but permits rose slightly, the Commerce Department reported Wednesday. The last time starts were that low was in April 2009. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">New housing starts in September were revised down to 588,000 from an original reading of 600,000. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Permits for new construction, viewed as a more accurate gauge of home building, rose 0.5% in October to an annualized rate of 547,000. Permits were also revised slightly higher in the prior month.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">DYNEGY ACCEPTS BLACKSTONE BID</span><br />
The power producer's board agreed to Blackstone's raised takeover bid of $5 a share, as well agreeing to pay Blackstone a $16.3 million break-up fee if deal rejected. Dynegy recommends shareholders approve the proposal.<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="http://si.wsj.net/public/resources/images/OB-KX356_1117gm_A_20101117133201.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="http://si.wsj.net/public/resources/images/OB-KX356_1117gm_A_20101117133201.jpg" /></a></div><span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;"> GM Lifts IPO Expectations</span><br />
<i style="font-family: Arial,Helvetica,sans-serif;"><b>Shares of the auto maker will trade on the New York Stock Exchange under the symbol GM.</b></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The estimated price of General Motors Co.'s initial public offering has been raised to $33 a share ahead of this week's debut as the auto maker also added $1 billion to the amount of convertible preferred stock it plans to sell.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> The sale of at least 365 million GM shares is now expected to price between $32 and $33 each, compared with the initial estimate released two weeks ago of $26 to $29. Official pricing of the deal is slated for late Wednesday, and some 1.5 billion shares will be outstanding after the IPO.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> GM said Tuesday it now expects to sell $4 billion of the convertible preferred stock.The company will be selling their common stock to the public on Thursday.</span><br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">CRUDE OIL:</span><br />
<i><b>U.S. Crude Oil: $ 80.16 per Barrel At 2:45PM</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>OIL FUTURES: Nymex Crude Settles Down $1.90 At $80.44/Bbl</b><br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Drop In US Oil Stockpiles </span></span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Stockpiles Post Largest Drop In 15 Months</b></i><br />
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U.S. crude inventories showed a sharp draw last week, widely exceeding analysts' expectations, according to data released Wednesday by the U.S. Department of Energy. The U.S. refining capacity utilization rose by 1.6 percentage points to 84.0%. Analysts had expected a 0.4-percentage-point increase.<br />
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Distillate stockpiles, which include heating oil and diesel fuel, fell by 1.1 million barrels to 158.8 million barrels versus analysts' expectations for them to fall by 2.2 million barrels. Gasoline stockpiles declined by 2.7 million barrels to 207.7 million barrels. The department's Energy Information Administration said in its weekly report, steeper than the 600,000-barrel drop forecasted. <br />
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DOE: US Crude Oil Stocks -7.286M Bbl In Wk; Seen -0.1M Bbl<br />
US Crude Oil Stocks -7.286 Mln Bbl At 357.596 Mln Bbl <br />
US Refineries Ran At 84.0%; Seen 82.80%<br />
US Refineries Ran At 84.0% Vs 82.4% Week Ago<br />
US Distillate Stocks -1.11M Bbl In Wk; Seen -2.2M Bbl<br />
US Gasoline Stocks -2.657M Bbl In Wk; Seen -0.6M Bbl<br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">NATURAL GAS:</span><br />
<i><b>Natural Gas: $3.96</b></i><br />
<b>US GAS: Futures Close Up 5.4% At $4.025/MMBtu</b><br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">PRECIOUS METALS:</span><br />
<i><b>Gold: $ 1,340</b></i><br />
<i><b>Silver:$ 25.75</b></i><br />
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Comex gold futures settled in the red Wednesday as flat U.S. inflation data and a deteriorating debt situation in Ireland pushed investors to the sidelines. <br />
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The most actively traded contract, for December delivery, settled down $1.50, or 0.1%, at $1,336.90 per troy ounce on the Comex division of the New York Mercantile Exchange. <br />
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In early trading, the most actively traded contract, for December delivery, was recently up 0.2%, or $3, at $1,341.40 per troy ounce on the Comex division of the New York Mercantile Exchange.<br />
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<b>Settlements (<i>Ranges Include Floor and Electronic Trading</i>):</b><br />
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London PM Gold Fix: $1,337.50; previous PM $1,349.00<br />
Dec gold $1,336.90, down $1.50; Range $1,330.10-$1,344.60<br />
Dec silver $25.511, up 27.8 cents; Range $25.015-$25.905<br />
Jan platinum $1,640.90, down $4.80; Range $1,628.00-$1,648.00<br />
Dec palladium $654.85, up $8.95; Range $625.65-$663.95 <br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS:</span><br />
Yields on 10-year notes (UST10Y 2.86, +0.02, +0.70%), which move inversely to prices, fell 2 basis points to 2.84%. A basis point is 0.01%. Earlier, yields on the benchmark securities had risen to 2.88%. <br />
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Yields on 2-year notes (UST2YR 0.50, -0.01, -1.59%) slipped 2 basis points to 0.49%.<br />
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Thirty-year bond yields(UST30Y 4.28, +0.01, +0.19%) rose as high as 4.31% earlier, before everting to be little changed at 4.26%. <br />
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3 Month 0.12% 0.00 (0.00%)<br />
6 Month 0.17% 0.00 (0.00%)<br />
2 Year 0.49% -0.01 (-2.00%)<br />
5 Year 1.46% -0.01 (-0.68%)<br />
10 Year 2.86% +0.02 (0.70%)<br />
30 Year 4.28% 0.00 (0.00%)<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">ANOTHER NATIONAL SALES TAX? </span><br />
<i><b>US Panel Proposes National Sales Tax</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
After American's already pay more than 50% percent in taxes, another bipartisan panel has released a plan to reduce the nation's debt, offering up a national sales tax as a way to help put the U.S. on a more fiscally-sustainable path.<br />
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What is not being said is that American's already pay multiple national sales taxes and fees on every transaction they make, as well as income taxes and fees from the Federal government and all local municipalities, like state, city, and county fees.<br />
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After those taxes, add the postal tax, sales taxes of 10% percent, fuel taxes, energy taxes, recycling taxes, occupation license fees, the proposed carbon tax, and you have government taking close to 70% percent of every dollar earned in the United States of America before the newly proposed national sales tax of an additional 6.5% percent.<br />
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The Bipartisan Policy Center's Debt Reduction Task Force, led by former Senate Budget Committee Chairman Pete Domenici and former White House Budget Director and Federal Reserve Vice Chairman Alice Rivlin, unveiled its plan Wednesday. <br />
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It would reform Medicare and Medicaid, make changes to Social Security by gradually raising the amount of wages subject to payroll taxes, freeze defense and non-defense discretionary spending for several years, and create a 6.5% debt reduction sales tax.The report comes a week after leaders of a White House commission laid out a controversial draft proposal to cut the federal budget deficit by hundreds of billions a year by targeting U.S. tax and spending policy. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. INFLATION GROWS</span></div><i><b>U.S. CPI up 0.2% in October </b></i><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="http://www.standeyo.com/NEWS/10_Food_Water/10_Food_Water_pics/101022.food.index.225.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="http://www.standeyo.com/NEWS/10_Food_Water/10_Food_Water_pics/101022.food.index.225.jpg" /></a></div><i><b> </b></i><br />
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U.S. consumer prices edged up 0.2% in October as the growing cost of gasoline offset flat or declining costs in other parts of the economy, a report said Wednesday.<br />
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The "core inflation" figure, which excludes volatile food and energy prices was flat for the third straight month and below the 0.1% growth that economists anticipated. <br />
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On a year-on-year basis, core prices are now up 0.6%. This is well below the Federal Reserve’s target for inflation of about 2%.<br />
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In the past year, the overall CPI has risen 1.2%, and at a 0.9% annual rate so far in 2010. The core CPI has risen at a 0.5% annualized pace so far in 2010.<br />
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<span style="font-size: large;">MEDUSA CURRENCY TRADING SYSTEM RELEASED </span><br />
<i><b>Currency Options Trading Online</b></i><br />
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Trading firm Digital Vega introduced a system Wednesday to offer trading in currencies options based on streaming prices from a range of different banks. <br />
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Dubbed Medusa, the system is thought to be the first of its kind. It allows clients to view real-time prices and request options deals from as many as five banks at a time. Pareto Investment Management Ltd, a well-known currencies investor, has already conducted a transaction over the new system, Digital Vega said. <br />
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If successful, Medusa could be a step forward for this market, which has been slower to move online than more basic spot deals.<br />
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Hedge funds, pension funds, small banks and broker-dealers are all seen as potential users. The system will initially handle six major currency pairs, and a selection of commonly-used deal types. <br />
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Suter at Digital Vega hopes the regulatory environment will help the system take hold. "There's a strong chance that in the U.S., FX options trading may shift to multibank systems, so the Medusa platform delivers the ideal solution to address this market requirement," he said. <br />
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With global turnover of around $207 billion a day, according to the Bank for International Settlements, options make up a small portion of the overall $4 trillion-a-day currencies market. Indeed, in a triennial report in August, the BIS said that the options market had shrunk by over 2% since 2007, bucking the trend for rapid expansion in other foreign-exchange products. Banks generally blame wild volatility and relatively clunky trading technology for this modest slowdown.</div><br />
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<div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Toronto Stocks Mixed</span><br />
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The stock market closed higher Wednesday, as mining stocks rallied to help erase the benchmark index's earlier losses.<br />
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The S&P/TSX Composite Index rose 55.60 points, or 0.4%, to 12657.83. Advances exceeded declines, 1018 to 621. Trading volume was 424.5 million shares, down from Tuesday's total of 622.3 million shares. The S&P/TSX 60 Index closed up 2.51 points, or 0.3%, to 725.65. <br />
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<b>Toronto Indexes, Volume; 4:05 PM EST Composite Up 55.60</b><br />
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S&P/TSX Composite 12657.83 up 55.60 or 0.5%<br />
S&P/TSX 60 Index 725.65 up 2.51 or 0.3%<br />
Financials 178.19 up 0.62 or 0.3%<br />
Materials 408.68 up 3.67 or 0.9%<br />
Energy 292.07 up 0.54 or 0.2%<br />
Industrials 106.43 up 0.56 or 0.5%<br />
IT 29.58 off 0.37 or 1.2%<br />
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<b>Volume Wednesday Tuesday</b><br />
3-4:15 78.3M 103.4M<br />
9:30-4:15 424.7M 622.3M <br />
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<div style="font-family: Georgia,"Times New Roman",serif;"><span style="font-size: x-large;">South American Markets:</span></div><br />
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<span style="font-size: x-large;">BRAZIL:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil's Stocks Close Higher</span>The benchmark Ibovespa stock index closed at 69,708 points, up 0.8% from Tuesday's close of 69,192.<br />
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Brazilian real estate developers climbed on increasing profit. PDG Realty (PDGR3.BR) climbed 1.7% to BRL10.53 after announcing a better-than-expected 6% climb in third-quarter net income. The homebuilder also announced a partnership with Marriott International to develop projects in Brazil. <br />
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Homebuilder Gafisa SA (GFSA3.BR), which also reported a jump in profit, rose 1.1% to BRL13.07. Industry leader Cyrela Brazil Realty SA Empreendimentos e Participacoes (CYRE3.BR) jumped 3.3% to BRL 21.07. <br />
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Lojas Americanas (LAME4.BR), Brazil's biggest discount retailer, bolstered gains in the sector, rising 4.6% to BRL17.73. Online unit B2W Cia. Global do Varejo (BTOW3.BR) added 4.2% to BRL32.40. <br />
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Most Brazilian blue chips gained in Wednesday trading, though China concern weighed on Vale SA (VALE, VALE5.BR), the world's biggest iron-ore producer. Vale, whose biggest client is China, climbed just 0.1% to BRL48.31.<br />
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OGX Petroleo e Gas Participacoes SA (OGXP3.BR) climbed 1% to BRL21.10. The oil producer controlled by billionaire Eike Batista said it found natural gas at another well drilled in an onshore basin in northeastern Brazil. <br />
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Aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), or Embraer, rose 0.8% to BRL12.25. The world's fourth-biggest plane maker said Wednesday that it signed an agreement with China's AVIC International Leasing Co. to obtain a credit line of up to $1.5 billion.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Telephone company Tele Norte Leste SA (TNE, TNLP4.BR), or Oi, advanced 1.6% to BRL24.95. The leading steel producer CSN (SID, CSNA3.BR) was unchanged at BRL28.21. Minas Gerais utility Cemig (CIG, CMIG4.BR) advanced 1% to BRL28.66. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Brazil's EBX Plans C$12.63/Share Bid For Ventana Gold >VEN.T </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">Brazilian holding company EBX Group is looking to boost its stake in Vancouver miner Ventana Gold Corp. (VEN.T) to 100% with a planned C$1.23 billion takeover offer. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Central Bank: 12-Month Economic Activity Up 8.03%</span><br />
High levels of consumer spending helped Brazilian economic activity advance a robust 8.03% in the twelve months through September against the previous 12-month period, the Brazilian Central Bank said Wednesday. <br />
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In its monthly report on economic activity, the central bank said activity in September was up 0.69% against August. All figures are seasonally adjusted. <br />
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The central bank tracks economic activity on a monthly basis through an index known as the IBC-Br, or Brazilian Economic Activity Index. <br />
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Brazil's economy experienced a brief recession in the early months of 2009, part of the global recession and financial crunch. Official gross domestic product figures showed the country's GDP declining 0.2% in 2009. <br />
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But 2010 marked a strong recovery, aided by government tax breaks, stepped-up spending on infrastructure projects and interest rate cuts. The policies led to growth in jobs, incomes and, especially, consumption in 2010. Brazilian retail sales, for example, advanced a torrid 11.8% in September against the same month a year before, according to the Brazilian Census Bureau, or IBGE. <br />
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Business investment has also picked up. Industrial output in September was up 6.3% against September of 2009, according to the latest IBGE figures. Brazilian GDP expanded 8.8% in the second quarter of 2010 against the same quarter the year before, according to the IBGE. Third-quarter figures are due for release early in December. <br />
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A weekly central bank survey of economists, released Tuesday, showed economists forecasting 2010 GDP expansion of 7.6%. The same economists saw a slowdown to 4.5% growth in 2011.<br />
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<span style="font-size: x-large;">MEXICO:</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Mexican Banking Groups Banorte, Ixe Agree To Merge</span></div><br />
Mexican banking concerns Grupo Financiero Banorte SAB de CV, Mexico's third largest bank, (GBOOY, GFNORTE.MX) and Ixe Grupo Financiero SAB de CV (IXEGF.MX) said Wednesday they have agreed to merge in an all-stock deal valued at an estimated 16.2 billion pesos ($1.3 billion). <br />
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In filings with the Mexican Stock Exchange, the banks said the transaction, which requires regulatory and other approvals, is expected to close in the first quarter of 2011. <br />
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<span style="font-size: x-large;">CHILE:</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile Stocks Rebound</span></div>Chile's blue-chip Ipsa index closed higher Wednesday, as the local market rebounded on improved market sentiment. <br />
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The Ipsa ended 0.3% higher at 4900.62, while market volume fell to 109.8 billion Chilean pesos ($227.1 million), versus CLP146.9 billion the previous session.<br />
Pulp and paper producer CMPC (CMPC.SN) grew 0.8% to CLP26,620.00, integrated steel and iron ore producer Cap (CAP.SN) gained 0.3% to CLP24,873.00, and specialty chemical and fertilizer producer SQM's (SQM) more liquid B-series shares rose 0.8% to CLP24,178.00. <br />
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Retailers La Polar (LAPOLAR.SN) gained 0.5% to CLP3,545.00, Hites (HITES.SN) jumped 1.9% to CLP580.50 and Ripley (RIPLEY.SN) increased 0.8% to CLP680.00. <br />
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The nation's largest department store Falabella (FALABELLA.SN), however, fell 1.8% to CLP4,674.40, even though its nine-month net profit nearly doubled on the year to CLP244.25 billion. Analysts said that despite the better-than-expected profit Falabella's shares already priced in expectations for robust results and are trading above end-2011 targets. <br />
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Investment bank Banchile Inversiones currently has a CLP4,400 price target for the end of 2011 for Falabella, the bank's analyst Peter McMenamin said. For its part, investment bank CorpResearch has an end-2011 target price of CLP4,630. <br />
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The peso ended stronger against the dollar as the euro reclaimed territory against the dollar after weaker-than-expected U.S. economic data. <br />
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The peso ended at CLP483.40 to the dollar, versus Tuesday's close of CLP485.70, while trading in a range of CLP483.15 to CLP487.20.<br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">European Markets:</span><br />
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European shares climbed Wednesday, recovering some ground after the previous session's heavy losses as officials from the Europe Union and the International Monetary Fund announced talks with Ireland aimed at determining the best way to provide potential aid. <br />
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The Stoxx Europe 600 index gained 0.5% to end at 267.31.<br />
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STOXX 600 267.31 +1.33 (0.50%)<br />
STOXX 50 2551.62 -12.00 (0.47%)<br />
EuroSTOXX50 2802.70 -20.93 (0.75%) <br />
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Pharmaceutical companies were among the best performers after the announcement of a cost-cutting plan from Roche Holding and a positive drug recommendation for GlaxoSmithKline. <br />
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<span style="font-size: x-large;">BELGIUM:</span><br />
<span style="font-size: large;"><i><b>EU Conditionally Clears Unilever Buy Of Sara Lee Unit </b></i></span><br />
The European Commission Wednesday cleared consumer-goods giant Unilever PLC (UNA.AE) to buy Sara Lee Corp's (SLE) personal care unit, but stipulated that the antitrust approval depends on the sale of Sara Lee's Sanex bath, shower and deodorants brand in Europe.<br />
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The European Commission also cleared Wednesday Swiss agribusiness company Syngenta AG (SYNN.VX) to buy Monsanto Co.'s (MON) global sunflower seeds business, provided the U.S. company's sunflower hybrid seed businesses in Spain and Hungary are sold to overcome competition concerns.<br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Officials from the European Central Bank, IMF and European Commission are due to conduct a "consultation" with Ireland about the best way to provide any necessary support to address market risks, especially regarding the troubled Irish banking sector. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Agnes Belaisch, head of emerging-market strategy at Threadneedle Asset Management, said the focus swings back and forth between the peripheral euro-zone markets and the weak U.S. recovery.</span><br />
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<span style="font-size: x-large;">LONDON:</span><br />
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The U.K.'s FTSE 100 index edged up 0.2% to 5,692.56, led higher by shares of Experian, which surged more than 6%. The information-services firm posted a rise in fiscal first-half profit and lifted its dividend by 29%.<br />
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U.K. chip designer Imagination Technologies Group PLC (IMG.LN) said Wednesday it agreed to buy U.S. video and voice-over-Internet company HelloSoft for up to $47 million, in a deal that strengthens its position in the delivery of media to mobile devices and televisions.<br />
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<span style="font-size: x-large;">GERMANY:</span><br />
<i><b>The German DAX 30 index ended up 0.6% at 6,700.07.</b></i><br />
Infineon Technologies rose 1.4%, extending strong gains from the previous session, which were inspired by the group's decision to pay its first dividend in a decade.<br />
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<span style="font-size: x-large;">SWITZERLAND: </span><br />
Shares of Actelion Ltd rallied more than 9% after the biotechnology group said it was "in regular dialogue with other industry participants" following market speculation of a takeover bid. <br />
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<span style="font-size: x-large;">FRANCE:</span><br />
The French CAC 40 index rose 0.8% to 3,792.35, as shares of banking group Societe Generale gained 2%. Shares of Thales dropped 4.2% in Paris after the aerospace and defense group was downgraded two notches to sell from buy at UBS.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">IRELAND:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Ireland's ISEQ index rose 1.5%. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">Shares of Bank of Ireland gained more than 2% in Dublin. Shares in Northern Foods surged nearly 25%, while Ireland's Greencore Group jumped 31% after the pair agreed to merge. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Ireland Posts 11.1% Rise In Home Mortgages Delinquencies</span></div><span style="font-family: Arial,Helvetica,sans-serif;"><i><b>The number of Irish mortgage accounts in arrears for more than 90 days increased </b></i><br />
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Delinquencies increased by 11.1% in the three months to end-September from the previous quarter, the Central Bank of Ireland said Wednesday.<br />
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Of the 789,000 private residential mortgage accounts held in Ireland, worth EUR117.4 billion in total, 40,472 were in arrears for more than 90 days. The data said EUR7.8 billion was owed in relation to all accounts over 90 days in arrears, of which EUR5.5 billion was owed for accounts over 180 days in arrears.<br />
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Mortgage lenders ended the third quarter with 522 repossessed residential properties on their books, having repossessed 81 and disposed of 54 during the three-month period.<br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">Asian Pacific Markets:</span><br />
Several markets in Asia were closed for holidays, including Singapore, Indonesia, Malaysia and India.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Asian stocks finished mostly lower overnight, with China's Shanghai Composite falling another 1.9% on growing concerns that officials will tighten monetary policy. <br />
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Asian stocks excluding Japan dropped to their lowest level in four weeks.The MSCI Asia stock index fell 1.5 percent to its lowest level since October 20. <br />
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<span style="font-size: x-large;">CHINA:</span><br />
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Chinese Premier Wen Jiabao said his government was preparing steps to tame price rises, feeding into market expectations that China will intensify tightening policies.<br />
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Hong Kong's Hang Seng index (HKSE/HSI 23,214.46 -478.56 ) shed 2.2 percent, while Chinese shares (SSEC) fell 1.9 percent. <br />
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<span style="font-size: x-large;">JAPAN: </span><br />
Japan's Nikkei average (Osaka:N225 9,811.66 +14.56), showed a gain as shares in some exporters, such as car makers, benefited from the yen's softness against the dollar.<br />
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<span style="font-size: x-large;">AUSTRALIA:</span><br />
The Reserve Bank of Australia announced today that it sees a cash deficit A$1.491 billion. Australian banks held A$1.28 billion at RBA accounts. <br />
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<span style="font-size: large;">STOCKS: </span><br />
S&P/ASX 200 4624.25 -76.02 (-1.62%)<br />
All Ord 4705.14 -77.70 (-1.62%)<br />
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Australian shares (ASX:AXJO ) slid 1.6 percent as BHP Billiton (ASX:BHP.AX) and Rio Tinto (ASX:RIO.AX) both suffered falls of more than 2 percent.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Investors worry that China, Australia's largest export market, is preparing more aggressive steps to tame inflation and thus risk slower growth.<br />
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<span style="font-size: x-large;">NEW ZEALAND:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The New Zealand producer costs rose to 0.7% in the 3rd Quarter of the year, more than the 0.3% expected. The 2Q reading was 1.4%. New Zealand producer output prices rose 1.2% in the same quarter, more than the 0.6% expected. The 2Q reading was 1.1%.<br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(WEDNESDAY, NOV 17, 2010 4:05 PM EST)</b></i><br />
EUR/USD 1.3521 +0.0030 (0.22%)<br />
USD/JPY 83.2700 -0.1100 (-0.13%)<br />
GBP/USD 1.5898 +0.0010 (0.06%)<br />
CAD/USD 0.9770 -0.0018 (-0.19%)<br />
USD/HKD 7.7571 +0.0006 (0.01%)<br />
USD/CNY 6.6415 +0.0037 (0.06%)<br />
AUD/USD 0.9795 +0.0018 (0.18%)<br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(WEDNESDAY, NOV 17, 2010 4:05 PM EST)</b></i><br />
Shanghai 2,838.86 -55.68 (-1.92%)<br />
Nikkei 225 9,811.66 +14.56 (0.15%)<br />
Hang Seng Index 23,214.46 -478.56 (-2.02%)<br />
TSEC 8,255.54 -56.67 (-0.68%)<br />
FTSE 100 5,692.56 +10.66 (0.19%)<br />
DJ EURO STOXX 50 2,802.70 +20.93 (0.75%)<br />
CAC 40 3,792.35 +29.88 (0.79%)<br />
S&P TSX 12,657.83 +55.60 (0.44%)<br />
S&P/ASX 200 4,624.30 0.00 (0.00%)<br />
BSE Sensex 19,865.14 -444.55 (-2.19)<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WEDNESDAY'S U.S. ECONOMIC CALENDAR:</span><br />
<br />
<b>7:00 a.m.</b><br />
Nov 12 MBA Mortgage Applications Survey Market Composite Index (previous 833.3), Cur Chg (previous +5.8%), Purchase Index (S.A.) (previous 188.7), Cur Chg (previous +5.5%), Refinance Index (previous 4587.7), Cur Chg (previous +6%)<br />
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<b>8:00 a.m.</b><br />
Boston Fed Pres Rosengren speaks in Providence, R.I.<br />
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<b>8:30 a.m.</b><br />
Oct New Residential Construction - Housing Starts and Building Permits Total Starts (expected 600K), Starts Percent Change (expected -1.6%), Building Permits (expected 568K), Percent Change (expected +3.8%)<br />
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<b>8:30 a.m.</b><br />
Oct Real Earnings<br />
<br />
<b>8:30 a.m.</b><br />
Oct CPI (expected +0.3%), CPI Core (expected +0.1%), CPI Core, Unrounded (previous 0%), CPI Energy Index (previous +0.7%), CPI Food Index (previous +0.3%), CPI Real Average Weekly Earnings (previous -0.1%), CPI, Unrounded (previous +0.1%)<br />
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<b>9:15 a.m.</b><br />
Federal Reserve Bank of St. Louis President James Bullard speech<br />
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<b>10:30 a.m.</b><br />
Nov 12 EIA Petroleum Status Report Crude Oil Stocks (previous 364.88M), Crude Oil Stocks (Net Change) (expected -300K), Gasoline Stocks (previous 210.34M), (Net Change) (expected -400K), Distillate Stocks (previous 159.9M), (Net Change) (expected -2.1M), Refinery Usage (previous 82.9%) <br />
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CONFERENCES:<br />
Among the significant financial conferences this week are REITWorld: NAREIT's Annual Convention for All Things REIT from Monday through Wednesday in New York; Lazard Capital Markets Annual Healthcare Conference on Tuesday and Wednesday in New York; Morgan Stanley Consumer & Retail Conference on Tuesday and Wednesday in New York; Bank of America Merrill Lynch Credit Conference on Wednesday and Thursday in New York; and Deutsche Bank Securities Media and Telecommunications Conference on Wednesday and Thursday in Miami. <br />
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<span style="font-family: Georgia,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, TUESDAY, NOV. 16, 2010:</span><br />
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Stocks:<br />
U.S. stocks dropped almost 200 points in their biggest one-day drop in nearly a month. Alcoa was among the worst performing of the Dow's 30 components, falling sharply on concern that the push to limit growth in China could lead to lower demand for aluminum.<br />
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Treasurys:<br />
Treasurys rallied late as investors were heartened by comments from Federal Reserve Bank of Boston President Eric Rosengren who said he "fully" sees the Fed buying all $600 billion in Treasurys, in contrast with comments from another voting member of the Fed earlier. Treasury prices rose after two sessions of heavy declines, as skittish investors sought the safety of low-risk U.S. government debt.<br />
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Forex:<br />
The U.S. Dollar rallied broadly against its basket of currencies. The euro dropped sharply against the dollar as concern over the euro-zone sovereign-debt crisis spreading across the region triggered a flight into the dollar. The ICE Dollar Index traded at its highest level since late September, while the euro traded below the psychologically key $1.35 level<br />
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</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-87095110856744092422010-11-16T06:02:00.000-08:002010-11-21T16:49:19.114-08:00Stock Market Update - Tuesday, November 16, 2010 - Caution Trend Change<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Tuesday, November 16, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="separator" style="clear: both; font-family: Arial,Helvetica,sans-serif; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>USA EQUITY INDEXES: (NOV. 16, 4:05 PM EST)</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><b></b></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Dow Jones 11,023.50 <span style="color: red;">-178.47 (-1.59%)</span><br />
S&P 500 1,178.34 <span style="color: red;">-19.41 (-1.62%)</span><br />
Nasdaq 2,469.84 <span style="color: red;">-43.98 (-1.75%)</span></div><br />
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<i><b><span style="font-family: Arial,Helvetica,sans-serif;">Dow Jones CLOSING Averages: DJIA 11,023.50 DN 178.47</span></b></i><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> 30 INDUS 11,023.50 DN 178.47 OR 1.59%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> 20 TRANSP 4,749.99 DN 70.47 OR 1.46%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> 15 UTILS 397.29 DN 4.57 OR 1.14%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> 65 STOCKS 3,832.53 DN 57.30 OR 1.47%</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><i><b>US COMMODITY PRICES: (NOV. 16, 4:05 PM EST)</b></i></div><span style="font-family: Arial,Helvetica,sans-serif;">Crude Oil 82.11 - 0.28%<br />
Natural Gas 3.82 -<br />
Gasoline 2.15 -<br />
Heating Oil 2.31 -<br />
Gold 1341.65 - 1.38%<br />
Silver 25.46 - 0.27%<br />
Copper 3.71 - 5.35%</span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>US DOLLAR FUTURES INDEX DXY: NOV. 16, 4:00PM EST: <span style="color: #38761d;">79.23 Up 0.71 (0.91%)</span> </b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US Stocks Drop</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Dollar Grows</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Stocks declined Tuesday. The indexes and commodities are broadly lower against the dollar's gain. The volatility index VIX climbed to 23 at mid-day.<br />
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U.S. stocks dropped in their biggest one-day drop in nearly a month . The Dow Jones Industrial Average earlier dipped below the 11000 level, and was recently down 190 points, or 1.7%, at 11012. The Dow hasn't closed below 11000 since Oct. 19, when the measure fell 2%.The Nasdaq Composite dropped 1.7% to 2472, while the Standard & Poor's 500-stock index fell 1.7% to 1177. <br />
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The potential for a new round of bailouts in the European Union fueled unease over the global economy. The Dow is trading down 163 pts to 11038, the S&P is off 8 pts to 1189, and the Nasdaq has dropped 15 pts to 2498. <br />
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Before the bell, U.S. stock index futures fell on Tuesday on continued concerns over a possible interest rate hike in China and sovereign debt woes in Europe. U.S. stocks were set to open sharply lower Tuesday, as investors digested mixed earnings reports from Home Depot and Walmart.<br />
<br />
Concerns about the European economy also continue to underpin an already jittery market. Wall Street was poised for a sizable drop at the open -- Dow futures were down 65 points at 11,108 while the broader Standard & Poor's 500 futures fell 6.7 points to 1,189.10.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The US Dollar cautiously moved back up to yesterday's close before the market open in the US. <span class="secondary-box-teaser">The British Pound slipped to a low of 1.5980 during the European trade as investors scaled back their appetite for risk. </span>The euro briefly hit six-week lows against the dollar on Tuesday and Asian stocks slid as concerns Ireland may not repay its debt encouraged investors to take profits after a strong autumn rally.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PRODUCER COSTS UP </span><br />
<i><b>U.S. October Producer Prices Rise - Industrial Output Flat </b></i><br />
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U.S. producer prices rose in October on higher oil costs, but underlying wholesale prices posted the biggest decline since July 2006 as a weak economy kept pipeline inflation at bay.<br />
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For the 12 months ended in October, the producer price index rose by 4.3%, accelerating from a 4.0% annual increase in September on the back of higher energy prices. <br />
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Separately, industrial output was flat last month as a decline in utilities production on the back of mild weather outweighed gains in the manufacturing sector.<br />
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<u>Stripping out more-volatile food and energy inflation factor</u>, wholesale prices declined by 0.6% in October. Measures of non-food and energy inflation have continued to slow in recent months, especially those net of food and energy items that are closely watched by the Federal Reserve.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">HOME BUILDERS SEE DECLINE</span></div><i><b>US Home Builder Confidence Misses Expectations</b></i><br />
<br />
The National Association of Home Builders on Tuesday said its housing market index rose to 16 in November. That increase, however, was from a downwardly revised reading of 15 a month earlier. The NAHB originally estimated confidence in October at 16.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The gauge measures builders' outlook for single-family home sales. The NAHB based its survey results on 420 builders. The numbers used in compiling the index are adjusted for seasonal variations. A number of 50 in the NAHB index would mean more builders view conditions as good than as poor.<br />
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The report showed current sales conditions held at 16. But sales expectations over the next six months rose to the highest since May, to 25 from 23. Traffic of prospective buyers crept higher, to 12 from 11. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. PRODUCER PRICES UP 0.4%</span></div><i><b>SHORT OF EXPECTATIONS</b></i><br />
U.S. producer prices show a 0.4% rise for October, below expectations of a 0.9% increase, and underlying wholesale prices post the biggest decline since July 2006, indicating disinflation pressures remain in the economy.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;">EQUITIES:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Alcoa was among the worst performing stocks of the Dow's 30 components, falling 3.1%. Dick's Sporting Goods rose 13% after its profit fell 11% in the third quarter as a result of store-closing costs, but the sporting-goods retailer's earnings beat analysts' estimates on margins and higher same-store sales. The company also raised its annual profit target and outlook for its fourth-quarter earnings per share. <br />
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Teen-apparel retailer Abercrombie & Fitch fell 1.4% after its fiscal third-quarter profit rose 29%, topping Wall Street expectations, but its margins narrowed.<br />
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Chinese online-game developer Perfect World plunged 18% after its third-quarter profit dropped on weakness in its online game operations.<br />
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Citigroup cut its stock rating on the company to sell from buy, saying a margin rebound is unlikely in the near term thanks to higher research and development costs and spending. <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">General Motors to Boost IPO Price By 14%</span><br />
GM increased the size of its convertible preferred stock offering by $1 billion on Tuesday, strengthening the automaker's balance sheet.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">BLACKSTONE BOOSTS DYNEGY TAKEOVER OFFER</span></div>Blackstone Group has increased its takeover offer for Dynegy by 11% just one day before Dynegy holders are due to vote on what was a $542 million buyout bid. Dynegy shares rise 7%. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Home Depot Net up 21%</span><br />
Home Depot Inc. said Tuesday a tight lid on expenses helped the largest U.S. home-improvement retailer's third-quarter net income rise 21% percent, despite a lackluster 1 percent revenue increase as home owners continue to hold back on bigger retail purchases. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WAL-MART PROFITS RISE</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Wal-Mart(WMT), the world's biggest retailer, raised its full-year earnings guidance to a range of $4.08 to $4.12 a share. Fiscal third-quarter earnings rose 9.3% as U.S. same-store sales fell for a sixth straight quarter. International operations again drove better results. Wal-Mart Stores Inc posted a higher quarterly profit and raised its full-year earnings forecast, but U.S. same-store sales declined as its shoppers remain under pressure. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">October CPI, PPI Seen Up In October</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Measures of wholesale and consumer inflation likely rose for October, according to economists surveyed by Briefing.com. The Producer Price Index, to be released Tuesday, and Consumer Price Index, out Wednesday, are expected to rise 0.7% and 0.3%, respectively. For September, the PPI grew 0.4% and the CPI ticked up 0.1%.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The government will report October industrial-production figures Tuesday. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CRUDE OIL:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>U.S. Crude Oil: $82.57 per barrel</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>OIL FUTURES: Nymex Crude Settles Down $2.52 At $82.34/Bbl</b><br />
<br />
Light, sweet crude for December delivery settled down $2.52, or 3%, at $82.34 a barrel on the New York Mercantile Exchange, the lowest settlement since Oct. 29. Brent crude on the ICE futures exchange recently fell $2.15, or 2.5%, to $84.61 a barrel. <br />
<br />
<br />
Oil prices have been restrained by above-average inventory levels recently, but the DOE reported a hefty decline in oil stocks in last week's report, signaling that stockpiles may have peaked. <br />
<br />
Front-month December reformulated gasoline blend-stock, or RBOB, recently declined 5.10 cents, or 2.3%, at $2.1440 a gallon. December heating oil fell 5.59 cents, or 2.4%, at $2.3150 a gallon. <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NATURAL GAS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Natural Gas: $3.79</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>US GAS: Futures Settle Down 0.7% At $3.818/MMBtu</b><br />
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</div><div style="font-family: Times,"Times New Roman",serif;"><br />
<span style="font-size: x-large;">PRECIOUS METALS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Gold: $1,334</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Silver:$ 25.21</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Gold slipped Tuesday as the dollar broke above Tuesday's high and the exchange where it is traded planned to raise the margin required for buying and selling the metal.<br />
<br />
A sharply strengthening dollar was also weighing on gold by making the dollar-denominated metal more expensive for buyers using other currencies. The ICE Futures U.S. Dollar Index was recently up 0.9%. <br />
<br />
Margins to initiate trading on a benchmark 100-ounce gold futures contract will increase to $6,075 from $5,739 and margins to hold those contracts overnight will go to $4,500 from $4,251, effective after the close of business Tuesday.<br />
<br />
<br />
Initial margins for platinum and palladium will rise to $4,950 from $4,125, and maintenance margins will increase to $4,500 from $3,750. <br />
<br />
Last week, the exchange announced that traders will be required to put up $6,500 in margin to hold a benchmark 5,000-ounce silver contract overnight. The previous margin was $5,000. Initial margins went to $9,788 from $8,775. Gold and silver fell sharply on the news.<br />
<br />
The most actively traded gold contract, for December delivery, was recently down $14.30, or 1%, at $1,354.20 a troy ounce on the Comex division of the New York Mercantile Exchange.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. TREASURYS/BONDS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">At 3:32 p.m. EST, the benchmark 10-year Treasury note was 31/32 higher to yield 2.847%. The 30-year bond was 2 16/32 higher to yield 4.263%. <br />
<br />
3 Month 0.12% +0.01 (9.09%)<br />
6 Month 0.17% 0.00 (0.00%)<br />
2 Year 0.50% 0.00 (0.00%)<br />
5 Year 1.46% -0.02 (-1.35%)<br />
10 Year 2.83% -0.06 (-2.08%)<br />
30 Year 4.27% -0.06 (-1.39%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Stocks Fall </span><br />
The US Dollar value rise Tuesday hammered commodities causing Toronto material and energy providers stocks to decline. At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was down 231.81 points, or 1.82%, at 12503.60 and declines led advances 1198 to 270. Trading volume was 303.90 million shares. The S&P/TSX 60 Index was down 12.54 points, or 1.72%, to 717.70 points.<br />
<br />
<b>Toronto Indexes, Volume; 3 PM EST Composite Down 175.05</b><br />
S&P/TSX Composite 12650.36 off 175.05 or 1.4%<br />
S&P/TSX 60 Index 720.89 off 9.35 or 1.3%<br />
Financials 176.57 off 1.66 or 0.9%<br />
Materials 403.82 off 7.72 or 1.9%<br />
Energy 290.58 off 6.37 or 2.1%<br />
Industrials 105.62 off 0.93 or 0.9%<br />
IT 29.82 off 0.26 or 0.9%<br />
<br />
Volume Tuesday Monday<br />
2-3 86.5M 46.1M<br />
9:30-3 518.9M 343.4M</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">South American Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: x-large;">BRAZIL:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BRAZIL PRE-SOLD SOY CROP</span><br />
Brazil's upcoming 2010-11 soy crop was 31% sold as of last Friday, local agricultural consultancy Celeres said in a weekly report. <br />
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Celeres said in the report issued Tuesday that Brazil saw sales rise from 29% the week before and 19% at the same time a year ago as soybean prices remain high. <br />
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Farmers in Brazil, which is the world's No. 2 soy producer after the U.S., did substantial trade last week for their new soy crop due to high international prices, Celeres said. <br />
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On Tuesday, Chicago Board of Trade soybean futures for January delivery settled down 63 cents, or 4.9%, at $12.23 a bushel. <br />
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Farmers in Mato Grosso, Brazil's No. 1 soy-producing state, sold 45% of their 2010-11 soy as of Friday, compared with 43% in the prior week and 25% a year ago, Celeres said. <br />
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In Parana, the country's No. 2 soy-producing state, farmers sold 27% of their beans as of Friday. This compares with 24% in the previous week and 11% a year ago, the report said. <br />
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Celeres said that 97% of the 2009-10 crop was sold as of Friday, compared with 96% in the previous week and 97% at the same time a year ago. Brazil finished harvesting the 2009-10 soy crop in May. <br />
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Brazil's farmers planted 61% of the 2010-11 soybeans as of Friday, compared with 45% in the prior week and 62% a year ago.<br />
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<span style="font-size: x-large;">ARGENTINA:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Argentina Set To Export 5M Tons Of Corn</span><br />
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Argentina's Agriculture Ministry is poised to issue a decree authorizing the export of 5 million metric tons of new-crop corn, the first permits to be issued for the crop coming to market in March, a government source said Tuesday. <br />
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The decision followed a meeting with representatives from the farm sector, where an agreement was reached to release the initial tranche, the source said on conditions of anonymity. <br />
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Argentina tightly regulates corn and wheat exports, granting export permits only once domestic stocks have been covered. Argentina is No. 2 in the world in corn exports, No. 3 in soybean exports and is the leader in soymeal and soyoil exports. <br />
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According to the Agriculture Ministry, corn production is set to hit a record 26 million tons. That would be up sharply from the 22.5 million tons grown last year, according to the U.S. Department of Agriculture. <br />
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If that production is confirmed, Argentina will likely end up exporting 18.5 million tons of corn from the crop, according to the ministry. <br />
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During 2009, the top buyers of Argentine corn exports were Iran, Algeria, Colombia, Egypt and Peru. However, the government is currently in talks to open corn exports to China. China has traditionally been a big corn exporter, but drought problems last season and soaring demand saw China import this year. Argentina and China are currently working on an agreement on sanitary standards necessary before corn sales can be made. <br />
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Some analysts expect China to continue to be a corn importer in the coming years, opening up big market potential for Argentine sales to China, as well as major corn importers Japan and Korea, which have traditionally relied on China to satisfy their needs. <br />
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Wheat exports are expected to reach at least 5.5 million metric tons from the 2010-11 crop, the source said, confirming earlier estimates from the Agriculture Ministry. <br />
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Production of the crop, which has just begun to be harvested, is expected to reach at least 13 million tons. Yields are high after steady showers through much of the growing season and exports could reach as much as 7 million tons. Brazil traditionally buys the bulk of Argentina's wheat exports. <br />
<br />
With crop conditions very good so far this season, total grain production is expected to top 103 million metric tons during the 2010-11 season, up sharply from the previous record of 93 million tons a year earlier, according to the Agriculture Ministry.<br />
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<span style="font-size: x-large;">CHILE:</span><br />
<i><b>Chile Central Bank Raises Key Rate 25BPs To 3% As Expected</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks End 1.3% Lower</span><br />
<br />
The Ipsa ended sharply lower at 4891.11, while market volume grew to 146.9 billion Chilean pesos ($302.4 million), versus CLP64.3 billion the previous session.<br />
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The peso closed weaker versus the dollar as the euro retreated into negative territory against the dollar which made marked gains in world markets Tuesday. The peso ended at CLP485.70 to the dollar, versus Monday's close of CLP482.40, while trading in a range of CLP482.70 to CLP486.20. <br />
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Stock volume rose higher following the auction of 34 million shares of Chilean information technology firm Sonda (SONDA.SN), equivalent to a 4.4% stake in the company. After the auction, which raised CLP36.04 billion, Sonda ended 1.3% lower at CLP1,061.00.<br />
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Commodities-related companies in Chile were among the biggest decliners after copper futures in New York plunged 5%.<br />
Among commodities-related companies, integrated steel and iron-ore producer Cap (CAP.SN) shed 2.0% to CLP24,806.00; pulp and paper producer CMPC (CMPC.SN) fell 2.5% to CLP26,399.00 and specialty chemical and fertilizer producer SQM's (SQM) more liquid B-series shares fell 1.3% to CLP23,989.00. <br />
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Retailers also fell hard, as they have been among the Ipsa's largest gainers and have fueled the market's record run this year. <br />
<br />
Within that sector, retail holding giant Cencosud (CENCOSUD.SN) lost 2.3% to CLP3,428.70, department store Falabella (FALABELLA.SN) declined 1.4% to CLP4,761.60 and retailer La Polar (LAPOLAR.SN) fell 3.1% to CLP3,526.40.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">PERU:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PERU'S SEPT. GDP JUMPS </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Peru's 2010 GDP Forecasts Seen Higher On September Growth</b></i><br />
<br />
As 2010 draws to a close, economic forecasts for Peru's growth are being raised, with some analysts predicting growth of 8.7%, following Monday's news that September's gross domestic product expanded by 10.41%. <br />
<br />
On Tuesday, the Central Reserve Bank of Peru's general manager Renzo Rossini said that he expects the country's GDP to expand by 8.7% or more this year. <br />
<br />
Separately, Finance Minister Ismael Benavides repeated his 2010 GDP growth forecast of about 8.5%, despite the fact that the finance ministry's most recent overall macroeconomic report holds the full year forecast at 6.8%. <br />
<br />
Private-sector economists are also increasing their growth forecasts. <br />
<br />
Deutsche Bank said Tuesday it was "revising upward" Peru's growth for this year to 8.6% from 8%. It said the increase was based on September's strong GDP growth as well as "recent economic performance." <br />
<br />
On Monday Renan Quispe, head of the government's National Statistics Institute, statistics agency said that growth in September was again being driven mainly by construction and manufacturing. He described construction activity as "intense" at a press conference. <br />
<br />
Such an increase, say some analysts, shows strong private sector investment, while others point to the number of public works projects that are under way in the lead up to next year's general elections. <br />
<br />
Credit Suisse said Tuesday it was increasing its 2010 GDP growth forecast to 8% from 7.5%, based on the new data. <br />
<br />
Scotiabank said GDP should expand by 7.8% in the fourth quarter, an increase from its previous forecast of 6.5% growth. It pointed to electricity production--a proxy for economic activity--as expanding 9.5% in October, greater than the 7.8% growth in September's electricity output. <br />
<br />
The first nine months of the year Peru's GDP rose 8.72%, over the same period a year earlier, while the expectation for third quarter growth is about 9.66%. The exact quarterly figure should be released towards the end of November. Peru's economy rose by slightly less than 1.0% in 2009.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">European stocks ended sharply lower Tuesday, with financial and mining shares getting particularly hard hit, after worries about the Chinese economy and uncertainty over whether Ireland will accept a bailout sparked a sell-off. <br />
<br />
The Stoxx Europe 600 index dropped 2.3% to close at 265.98.</div><div style="font-family: Arial,Helvetica,sans-serif;">As the US Dollar climbed past yesterday's close mining stocks led the decline after fears of an interest-rate hike returned to haunt the Chinese market, weighing on commodity prices.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Ireland Discusses Bailout</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">EU Struggles With Debt Crisis</span><br />
<br />
The Irish Prime Minister, Brian Cowan, has addressed parliament. He told ministers his country was working with European partners to deal with the debt issue. He also reiterated that the Republic of Ireland had not asked for bail-out money and that the Irish economy was well funded until next year.<br />
<br />
Mr Rehn earlier confirmed the Irish government, the European Commission, the European Central Bank and the IMF were meeting to discuss the country's "serious banking problems".<br />
<br />
Irish Prime Minister Brian Cowen said Tuesday he is prepared to work with his European counterparts "to normalize market conditions," but reiterated that Ireland hasn't applied for external financial assistance.<br />
<br />
The Governor of the Bank of England, Mervyn King, called the current discussions "very delicate".<br />
<br />
Appearing before a committee in the UK House of Lords, Mr King confirmed that the Bank of England was feeding in comments to that process, but refused to say more publicly. <br />
<br />
Earlier, the EU Council president, Herman Van Rompuy, warned that the European Union was in a "survival crisis" over eurozone debt problems, as the economic health of members such as the Republic of Ireland and Portugal come under fresh scrutiny.<br />
<br />
Ireland was in talks over a financial rescue as European Union leaders battled to shield Portugal from the resurgent debt crisis and doubts surfaced over Greece’s economic health.<br />
<br />
“We are in a survival crisis,” EU President Herman Van Rompuy said at the European Policy Centre in Brussels today. “If we don’t survive with the euro zone we will not survive with the European Union.”<br />
<br />
Public clashes among EU officials over how to defuse Europe’s debt bomb marked a new stage in the crisis triggered by Greece’s near-default in May that forced the EU to set up a 750 billion-euro ($1 trillion) rescue fund to keep the euro intact. A European Central Bank official threatened an end to its economy-boosting measures.<br />
<br />
Irish bonds fell, reversing a two-day rally, on concern that European finance ministers might fail to strike a deal at a meeting in Brussels that started at 5 p.m. today. The euro slid 0.3 percent to $1.3549. <br />
<br />
“We are discussing with both the ECB and the IMF and of course the Irish,” EU Economic and Monetary Affairs Commissioner Olli Rehn said on his way into the meeting. “The real problems are in the banking sector,” not with the government, “but these are connected.”<br />
<br />
Ireland is negotiating with the EU and International Monetary Fund about aid to shore up the state’s finances, furnish capital for the country’s banks and spare it from tapping the bond market for an extended period, the European official said on condition of anonymity. Spokesmen for the Irish central bank and Finance Ministry declined to comment.<br />
<br />
Irish Yields Rise<br />
<br />
The aid package may total about 80 billion euros, according to Barclays Capital.<br />
<br />
The yield on Ireland’s 10-year bond rose 28 basis points to 8.44 percent. The extra yield over German bunds rose to 561 basis points from 540 basis points yesterday. The spread, a measure of the risk of investing in Ireland, peaked at 646 basis points on Nov. 11. <br />
<br />
The Greek criticism drew a German rebuke today. “When I heard the comments by the Greek prime minister I thought, with all due respect, that Greece has enjoyed a lot of European and German solidarity,” German Finance Minister Wolfgang Schaeuble said before the Brussels meeting. “But solidarity is not a one- way street. That shouldn’t be forgotten in Greece.”<br />
<br />
The German demands reflected a revolt by taxpayers in richer EU countries against underwriting fiscally unsound governments at a time of 10.1 percent euro-area unemployment. Finland insisted today that Ireland be forced to put up collateral for any aid.<br />
<br />
Austrian Finance Minister Josef Proell said he is considering withholding the country’s share of the next part of Greece’s 110-billion euro rescue, saying the Athens government missed a revenue-raising target.<br />
<br />
That disclosure triggered losses in Greek bonds, pushing the extra yield over 10-year German bonds up by 12 basis points to 898 basis points.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Irish Debt Woes Weigh on Euro and Stocks</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Uncertainty over whether Ireland, faced with record borrowing costs, needs to be bailed out by its euro zone partners to pay its debts also did little for the market mood.<br />
<br />
As it is, Ireland's woes have raised borrowing costs for other fiscally strapped euro zone nations such as Spain and Portugal. Euro zone officials are set to meet later to try to find a way to end Ireland's debt crisis.<br />
<br />
The euro fell as far as $1.3560 at one point, but clawed back by late trade after dovish remarks from a Federal Reserve official nudged the dollar lower.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">The FTSE 100 index of leading British shares was down 64.73 points, or 1.1 percent, at 5,755.68 while Germany's DAX fell 34.59 points, or 0.5 percent, at 6,755.58. The CAC-40 in France was 41.62 points, or 1.1 percent, lower at 3,822.62.</span><br />
<br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">GERMANY:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">The DAX 30 index dropped 1.9% to 6,663.24. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">FRANCE:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The CAC 40 fell 2.6% to 3,762.47 </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">IRELAND:</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Ireland's ISEQ index dropped Ending -1.7% At 2,652; AIB -3.4%, as euro-zone finance ministers met in Brussels amid growing speculation that a bailout for Ireland is in the works. </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><br />
</span><br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">GREECE:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Greece is being pressed by its international lenders to come up with a further EUR4 billion in budget cuts next year, a senior government official said Tuesday. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Pressure for more painful spending cuts also comes amid new questions over Greece's eligibility for further aid from the European Union and the International Monetary Fund.</span><span style="font-family: Arial,Helvetica,sans-serif;"><br />
</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Asian Pacific Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Underscoring Asia's sturdy economic growth, the South Korean central bank raised interest rates on Tuesday and hinted there could be more hikes to come.<br />
<br />
That Asia is tightening policy is a world away from the United States, where a Fed official said on Tuesday an exit from the present super-loose policy may be "years away."<br />
<br />
Japan's Nikkei 225 stock average lost 0.3 percent to 9,797.10. Hong Kong's Hang Seng slid 1.4 percent to 23,693.02. Australia's S&P/ASX 200 gained 0.3 percent to 4,700.30. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">CHINA:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">China's State Council is drafting measures aimed at curbing overly fast price rises, according to a government statement. The nation also announced new limits restricting the ability of foreigners to buy residential or commercial property on the mainland, the country's latest effort to ease inflationary pressures.<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA STOCKS DECLINE </span></div><div style="font-family: Arial,Helvetica,sans-serif;">China's stock market suffered another big drop Tuesday. Another sharp sell-off in Chinese stocks in late trade also unnerved some investors and led them to wonder if prices of riskier assets were turning lower for good. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The Shanghai Composite Index slid 4.3 percent at one point as investors, worried China may further tighten monetary policy, sold blue-chip bank and energy shares.<br />
<br />
Energy, metal and agricultural products prices all plunge amid fears that China will take new actions to fight price increases, less than a month after raising interest key interest rates. <br />
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"The swings in China are radical in the last few days," said Jackson Wong, an investment manager at Tanrich Securities in Hong Kong. "People are still trying to figure out if this is the beginning of a downtrend."<br />
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The overall cautious tone kept the MSCI Asian stock index outside Japan down 0.1 percent, an insignificant move compared to its 16 percent jump since early September.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">JAPAN:</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Japan's Nikkei declined 0.3% percent.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">SOUTH KOREA:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The Bank of Korea raised its base rate by a quarter of a percentage point, to 2.5%, in an effort to stem inflationary pressures.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>(TUESDAY, NOV 16, 2010 4:05 PM EST)</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">EUR/USD 1.3489 -0.0097 (-0.71%)<br />
USD/JPY 83.2800 +0.1500 (0.18%)<br />
GBP/USD 1.5877 -0.0179 (-1.12%)<br />
CAD/USD 0.9790 -0.0111 (-1.13%)<br />
USD/HKD 7.7570 +0.0046 (0.06%)<br />
USD/CNY 6.6378 -0.0040 (-0.06%)<br />
AUD/USD 0.9764 -0.0085 (-0.86%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">WORLD MARKETS SNAPSHOT:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>(TUESDAY, NOV 16, 2010 4:05 PM EST)</b></i></div><span style="font-family: Arial,Helvetica,sans-serif;">Shanghai 2,894.54 -119.88 (-3.98%)<br />
Nikkei 225 9,797.10 -30.41 (-0.31%)<br />
Hang Seng Index 23,693.02 -334.16 (-1.39%)<br />
TSEC 8,312.21 +71.56 (0.87%)<br />
FTSE 100 5,681.90 -138.51 (-2.38%)<br />
DJ EURO STOXX 50 2,781.77 -66.68 (-2.34%)<br />
CAC 40 3,762.47 -101.77 (-2.63%)<br />
S&P TSX 12,602.23 -133.18 (-1.05%)<br />
S&P/ASX 200 4,700.30 +12.30 (0.26%)<br />
BSE Sensex 19,865.14 -444.55 (-2.19%)</span><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">TUESDAY'S U.S. ECONOMIC CALENDAR:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">7:45 a.m.</div><div style="font-family: Arial,Helvetica,sans-serif;">Nov 13 ICSC-Goldman Sachs Chain Store Sales Index - Week over Week (previous +1.3%), YoY (previous +3.4%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">8:30 a.m.</div><div style="font-family: Arial,Helvetica,sans-serif;">Oct PPI (expected +0.9%), PPI Core (previous +0.2%), PPI Core Crude Goods (previous +5.5%), PPI Core Intermediate Goods (previous +0.2%), PPI Crude Goods (previous -0.5%0, PPI Energy Goods (previous +0.5%), PPI Intermediate Goods (previous +0.5%), PPI Passenger Cars (previous +0.5%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">8:55 a.m.</div><div style="font-family: Arial,Helvetica,sans-serif;">Nov 13 Johnson Redbook Retail Sales Index MoM % Change (previous 0%), 12MonChgPct (previous +2.6%), 52WkChgPct (previous +2.6%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">9:00 a.m.</div><div style="font-family: Arial,Helvetica,sans-serif;">Sep Treasury International Capital Data Monthly Net TIC Flows (previous +38.9B), Net Foreign Acquisition of Long-Term Securities (previous +111.8B), Net Foreign Acquisition of US Agency Debt (previous +4.6B), Net Foreign Acquisition of US Corp Bonds (previous +10B), Net Foreign Acquisition of US Equities (previous +4.8B), Net Foreign Acquisition of US Tsy Bonds & Notes (previous +117.1B), Net Long-Term Securities Transactions (previous +128.7B)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">9:15 a.m.</div><div style="font-family: Arial,Helvetica,sans-serif;">Oct Industrial Production (expected +0.3%), Capacity Utilization (previous -0.1), Current Capacity Utilization (expected 74.9%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">10:00 a.m.</div><div style="font-family: Arial,Helvetica,sans-serif;">Nov NAHB Housing Market Index (expected 17)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">4:30 p.m.</div><div style="font-family: Arial,Helvetica,sans-serif;">Nov 13 API Statistical Bulletin Crude Stocks (Net Change) (previous -7.4M), Gasoline Stocks (Net Change) (previous -3.45M), Distillate Stocks (Net Change) (previous -4M), Refinery Runs (previous 84.3%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">5:00 p.m.</div><div style="font-family: Arial,Helvetica,sans-serif;">Nov 14 ABC News Consumer Confidence Index (previous -46)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">N/A</div><div style="font-family: Arial,Helvetica,sans-serif;">Federal Reserve Bank of Atlanta President Dennis Lockhart speech </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">Conferences:</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Among the significant conferences this week are the Sidoti & Co. New York II Emerging Growth Institutional Investor Forum on Monday and Tuesday in New York; REITWorld: NAREIT's Annual Convention for All Things REIT from Monday through Wednesday in New York; Lazard Capital Markets Annual Healthcare Conference on Tuesday and Wednesday in New York; Morgan Stanley Consumer & Retail Conference on Tuesday and Wednesday in New York; Bank of America Merrill Lynch Credit Conference on Wednesday and Thursday in New York; and Deutsche Bank Securities Media and Telecommunications Conference on Wednesday and Thursday in Miami. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">US STOCK MARKET SUMMARY, MONDAY, NOV. 15, 2010:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Stocks:</div><div style="font-family: Arial,Helvetica,sans-serif;">US stocks were mixed, with the The Dow gained 9 pts Monday to close at 11201, while the S&P dropped 1 pt to 1197 and the Nasdaq fell 4 pts to 2513, as a bigger-than-expected increase in retail sales for October helped some sectors. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Treasurys:</div><div style="font-family: Arial,Helvetica,sans-serif;">Treasurys tumbled amid continued backlash against the Federal Reserve's second bond-buying program, or quantitative-easing effort. Treasurys maturing in the next five to 10 years were the hardest hit, compounding losses chalked up on Friday. The 30-year bond's yield moved back to a level hit in May. Treasurys dropped as market participants continued to unwind trades they had put on in full force when expectations for QE2 first hit. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Forex:</div><div style="font-family: Arial,Helvetica,sans-serif;">The euro weakened against the dollar as concerns flared over the long-simmering crisis of sovereign debt in the euro-zone periphery. Investors speculated Ireland might soon request a European Union lifeline and worries over the situation spreading throughout the region again came to the forefront, analysts said. "As long as the sovereign debt situation in the peripheral European countries stays in focus, it is going to be difficult for the euro to maintain any type of strength," said Dan Cook, chief executive of IG Markets. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-54647259917298773972010-11-15T06:24:00.000-08:002010-11-21T16:50:36.308-08:00Stock Market Update - Monday, November 15, 2010 - Cautious Mixed Outlook<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Monday, November 15, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div class="separator" style="clear: both; font-family: Arial,Helvetica,sans-serif; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>USA EQUITY INDEXES: (NOV. 15, 4:05 PM EST)</b></i><br />
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(MONDAY'S CLOSING INDEX NUMBERS)<br />
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Dow Jones 11,201.97 <span style="color: #38761d;">+9.39 (+0.08%)</span><br />
S&P 500 1,197.75 <span style="color: red;">-1.46 (-0.12%)</span><br />
Nasdaq 2,513.82 <span style="color: red;">-4.39 (-0.17%)</span><br />
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<i><b>Dow Jones 3:30 PM Averages: DJIA 11,227.21 UP 34.63</b></i><br />
30 INDUS 11,227.21 UP 34.63 OR 0.31%<br />
20 TRANSP 4,837.28 UP 30.45 OR 0.63%<br />
15 UTILS 402.77 UP 1.71 OR 0.43%<br />
65 STOCKS 3,900.06 UP 16.62 OR 0.43%<br />
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<i><b>US COMMODITY PRICES: (NOV. 15, 4:00 PM EST)</b></i><br />
Crude Oil 84.69 - 0.22%<br />
Natural Gas 3.85 + 0.26%<br />
Gasoline 2.20 -<br />
Heating Oil 2.37 -<br />
Gold 1359.69 - 0.75%<br />
Silver 25.50 - 2.11%<br />
Copper 3.92 + 0.87%<br />
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<i><b>US DOLLAR FUTURES INDEX DXY: NOV. 15, 3:45PM EST: 78.66 <span style="color: #38761d;">Up 0.60 (0.77%)</span></b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Socks Mixed Dollar Gains </span><br />
<i><b>Stocks End Mixed. </b></i><br />
As the dollar rose, commodities, energy and stocks declined in a mixed light trading day with also mixed economic data.<br />
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The Dow gained 9 pts Monday to close at 11201, while the S&P dropped 1 pt to 1197 and the Nasdaq fell 4 pts to 2513. <br />
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U.S. Stocks were mixed in early morning trades as the dollar held onto some gains, but bumps off resistance at index 78.58. The dollar index just below 79.50 resistance. <br />
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World currencies are signaling major warning signs for a significant correction just ahead. Possibly starting today or Tuesday. The dollar is at near-term resistance. The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, climbed 0.3%. The dollar index is trading at the January price points after consolidating for October and November between 75.50 support and 79.00 resistance. With the euro making up nearly 60% of its value, there seems to be a battle going on between revaluation of the dollar and the euro. <br />
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U.S. stocks rose Monday following better-than-expected retail sales. The Dow Jones Industrial Average climbed 49 points, or 0.4% to 11242, in early trading. The Nasdaq Composite advanced 0.6% to 2533. The Standard & Poor's 500 index added 0.5% to 1205, with all its sectors in positive territory.<br />
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In the U.S., data showed U.S. retail sales surged in October, topping expectations on robust car sales and solid spending for a broad array of merchandise going into the holiday shopping season. Retail sales rose 1.2% last month, the biggest rise since March and larger than the 0.8% increase that was expected. Excluding autos, all other retail sales rose 0.4%, just shy of the 0.5% gain that was expected. <br />
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The November reading of New York-area manufacturing activity from the New York Fed came in at negative 11.14, down from 15.73 in October and below economists' expectations for a reading of 13.00. Measures of new orders, employment and prices received all fell. <br />
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<span style="font-size: large;">EQUITY NEWS: </span><br />
Alcoa was the measure's best performer, up 1.2%, while Johnson & Johnson was also strong with a 1.1% increase. General Motors plans to price shares in its initial public offering a few dollars above the ranges predicted earlier due to strong demand. A decision on the price is expected later Monday but isn't set to be made public until Wednesday. <br />
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Just a few of the Dow's 30 components were in the red, led by Caterpillar. The heavy-equipment giant fell 1.3% after it announced it would buy mining company Bucyrus International for about $7.6 billion. Under the agreement, Caterpillar will pay $92 for each Bucyrus share--a 32% premium to Friday's closing price. Shares of Bucyrus, which is not a Dow stock, surged 29% to $90. <br />
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Among stocks in focus, BHP Billiton abandoned its US$39 billion bid for Canadian fertilizer company Potash Corp. of Saskatchewan (POT), raising questions about the growth prospects of the world's biggest miner amid increasing resistance from governments and global regulators to major takeovers. BHP edged up 1.9% while Potash fell 1.4%. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">HEDGE-FUND INFLOWS SURGED</span><br />
Investors moved $18.4 billion into hedge funds in October, the largest inflow since November 2009, says HedgeFund.net. October's inflows are up from $12.2 billion in September. <span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"></span><br />
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</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US CREDIT-CARD DELINQUENCIES<br />
</span><br />
<h2 style="font-size: 110%; margin: 0pt; padding: 0pt;"><i>Credit-Card Delinquencies Lower on $814 Billion in Revolving Credit</i><span id="intelliTxt"><span id="intelliTxt"></span></span></h2><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">Monthly data released by several major credit-card issuers </span></span></span><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">indicated delinquencies, a closely followed gauge of future losses, have decline to their lowest point so far this year.</span></span></span><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"> Losses from bad loans remain steep. </span></span></span><br />
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<span id="intelliTxt">Delinquency rates for U.S. issuers of credit cards fell in October although losses from souring loans remain steep. </span><br />
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<span id="intelliTxt"> Monthly data released Monday by several major credit-card issuers, including Capital One Financial Corp. (COF), American Express Co. (AXP), Discover Financial Services (DFS), Bank of America Corp. (BAC) and J.P. Morgan Chase & Co. (JPM), indicated that their delinquencies declined to their lowest point so far this year. <br />
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Investors, looking beyond the signs of improving credit, are now keen to see issuers increase lending; the more that cardholders charge on their plastic, the more the companies earn by way of fees, so the amount customers spend is critical. Card-loan balances--and, as a result, revenue--have been falling as companies, stung by steep losses during the economic slump, scaled back on credit and toughened lending standards.<br />
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<span id="intelliTxt"> According to the Federal Reserve, revolving credit lines--mainly card balances--shrank by about $8.3 billion in September from August, or at an annualized rate of 12.1%. Since the end of 2008, those balances have been reduced by about $144 billion, to $814 billion.<br />
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Credit-card issuing banks are also facing restrictions on debit-card transaction fees that are a part of the recent sweeping legislation overhauling financial regulation. In addition, they are dealing with new rules implemented earlier this year that curb credit-card fees and interest-rate increases. </span></span></div><div style="font-family: Arial,Helvetica,sans-serif;">.<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CRUDE OIL:</span><br />
U.S. Crude Oil: $85.25 per barrel</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>OIL FUTURES: Nymex Crude Closes 2c Higher At $84.90/Bbl </b></i><br />
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Oil prices retreated from highs earlier in the session, hitting an intraday peak of $85.77 a barrel. Speculative interest in crude oil has pushed WTI values easily through $80 a barrel, and now has created a $75 to $95 trading channel that will replicate the moves in equities.<br />
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Light, sweet crude for December delivery settled down 2 cents at $84.86 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange recently gained 36 cents, or 0.4%, to $86.70.<br />
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Front-month December reformulated gasoline blend-stock, or RBOB, lost 1.3 cents, or 0.6%, to $2.1969 a gallon. December heating oil added 0.77 cent, or 0.3%, to $2.3709 a gallon. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NATURAL GAS:</span><br />
Natural Gas: $3.81<br />
<i><b>US GAS: Futures Close Up 1.1% At $3.842/MMBtu </b></i><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PRECIOUS METALS:</span><br />
Gold: $1,370<br />
Silver:$ 26.22<br />
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In early trading,Comex gold futures were near steady Monday as a stronger dollar balanced out investor appetite for gold as an alternative currency. <br />
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The most actively traded contract, for December delivery, was recently up 0.3%, or $3.90, at $1,369.40 per troy ounce on the Comex division of the New York Mercantile Exchange. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS:</span><br />
Treasury prices declined Monday as Fed bond buying kicks into high gear. Today November 15th, $7-8 billion dollars are intended to be monetized as part of the $600 billion, that will hit the market over the next 6-8 months. Prices fell in early trading and the yield pushed up to levels last seen in early August.<br />
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The 10-year yield rose as high as 2.891%; the bond was recently down 20/32 to yield 2.858%. The five-year yield was off by 13/32 to 1.448% and the seven-year was down 17/32 to 2.079%. <br />
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3 Month 0.11% 0.00 (0.00%)<br />
6 Month 0.17% <span style="color: #38761d;">+0.01 (6.25%)</span><br />
2 Year 0.53% 0.00 (0.00%)<br />
5 Year 1.51% <span style="color: #38761d;">+0.05 (3.42%)</span><br />
10 Year 2.93% <span style="color: #38761d;">+0.10 (3.53%)</span><br />
30 Year 4.40% <span style="color: #38761d;">+0.11 (2.56%)</span> <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BEFORE THE BELL:</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">US stock futures retained mild Monday gains after mixed economic reports showed retail sales rising 1.2% in October. The U.S. Dollar regained its upward position and commodities declined in over-night trading.</div><div style="font-family: Arial,Helvetica,sans-serif;">.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US September Business Inventories </span><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Up</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">Inventories at U.S. businesses in September rose above expectations, a sign of confidence among companies in the economic recovery as the holiday shopping season grew nearer. <br />
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Inventories increased 0.9% from the prior month to a seasonally adjusted $1.403 trillion, the Commerce Department said Monday. <br />
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U.S. business sales accelerated in September, rising 0.5% to $1.101 trillion after an upwardly revised 0.3% gain in August. <br />
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The increases in inventories and sales were positive signs for the economy as companies prepared for the crucial holiday shopping season. Consumer spending is a large part of economic activity in the U.S. Government data released earlier Monday showed U.S. retail sales surged in October past expectations. <br />
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Monday's inventories report said that at the current sales pace, businesses had enough goods on hand in September to last 1.27 months, the same as the level in August and below 1.30 in September 2009. <br />
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U.S. companies cut inventories furiously during the recession, then built supplies back up as the economic recovery got under way. Now, firms are trying to keep stockpiles in line with demand. Department store operator Dillard's Inc.'s (DDS), for instance, attributed the surge in its fiscal third-quarter earnings to efforts made to effectively manage inventory and control expenses. <br />
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Wholesalers make up about 30% of all business stockpiles. Factories account for about 38%. Retailers make up the rest. Wholesale inventories rose 1.5% in September. Manufacturing inventories increased by 0.7%. <br />
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Retailers' inventory stocks of goods climbed 0.8%, driven partly by a 1.7% gain in autos and parts. Excluding cars, other retail inventories increased 0.4%. Inventories at clothing stores were flat. Inventories at furniture stores rose 0.1%. Building materials inventories gained 0.7%. Food and beverage store inventories rose 0.3%. General merchandise store inventories increased 0.1%. <br />
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The Commerce Department data on business inventories can be found at:</div><div style="font-family: Arial,Helvetica,sans-serif;"><a href="http://www.census.gov/mtis/www/data/pdf/mtis_current.pdf">http://www.census.gov/mtis/www/data/pdf/mtis_current.pdf</a></div><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Retail Sales in US Increased by 1.2% in October</span><br />
Consumers flocked to auto showrooms and made more purchases online. Sales for September and August were also revised higher. Excluding motor vehicles, retail sales rose 0.4% in October.<br />
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Economists had forecast total sales to rise by 0.7%, or 0.4% excluding the volatile automotive segment. Retail sales have risen at an annual rate of 6.3% over the past three months. Sales were revised to a 0.7% increase in September, compared to an original reading of 0.6%. August sales were revised up to 0.9% from 0.7%.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">NEW YORK BUSINESS INDEX DECLINED </span><br />
Business conditions in the New York area deteriorated in November, as the New York Fed's Empire State manufacturing survey plummeted 27 points to -11.1 due to a sharp drop in new orders. The release was far worse than economist expectations for a +15 reading and marks the first negative reading since July 2009. The shipments index also fell below zero.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CATERPILLAR TO BUY BUCYRUS FOR $7.6B</span><br />
Caterpillar will pay $92 as share for mining giant Bucyrus, a 32% premium to Friday's closing price and an all-time high for the stock. Joy Global, which has been eclipsed by Bucyrus as the world's biggest mining-equipment maker, sees shares rise 7%. </div><br />
<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Toronto Stocks Higher</span></div><br />
Monday Toronto stocks gained as industrials and telecommunications stocks lead the way up after a mixed open.<br />
<br />
Canada's monthly new motor vehicle sales increased 4.2% in September to 134,845 units, getting a boost from stronger truck sales, Statistics Canada said Monday. The federal statistics agency said preliminary industry data indicate vehicle sales were flat in October. <br />
<br />
At 11:45 a.m. EDT (1645 GMT), the S&P/TSX Composite Index was up 41.67 points, or 0.33%, at 12790.91 and advances led declines 695 to 672. Trading volume was 194.20 million shares.The S&P/TSX 60 Index was up 2.44 points, or 0.33%, to 733.99 points.<br />
<br />
<b>Toronto Indexes, Volume; 3 PM EST Composite Up 19.62</b><br />
<br />
S&P/TSX Composite 12768.86 up 19.62 or 0.2%<br />
S&P/TSX 60 Index 732.39 up 0.84 or 0.1%<br />
Financials 178.54 up 1.29 or 0.7%<br />
Materials 412.72 off 4.60 or 1.1%<br />
Energy 298.25 off 0.33 or 0.1%<br />
Industrials 106.79 up 1.53 or 1.5%<br />
IT 30.16 up 0.10 or 0.3%<br />
<br />
Volume Monday Friday<br />
2-3 46.1M 52.2M<br />
9:30-3 343.4M 444.3M<br />
<br />
<span style="font-size: large;">Market Note:</span><br />
Tuesday, manufacturing data for September will be released. Economists expect that manufacturing sales declined by 0.9% in September from August after climbing by 2.0% that month. <br />
<br />
<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">South American Markets:</span></div><br />
<br />
<span style="font-size: x-large;">ARGENTINA:</span><br />
<i><b>Argentina's Stocks Rise On Bank Rally; Bonds Dip</b></i><br />
<br />
Argentine stocks kicked off the week on a strong note, with heavy buying in the banking sector leading the gains. Argentina's benchmark Merval stock index added 1.71% to close at 3270.78 points. <br />
<br />
Banks were the focus of buying as many continue to report strong earnings during the third quarter. <br />
<br />
Argentine mortgage bank Banco Hipotecario SA's (BCOHY, BHIP.BA) also outperformed the market, rising 4.59% to ARS3.19. Last week, Banco Hipotecario said its third-quarter net profit more than doubled on the year to ARS84 million thanks to a big increase in revenue from its lending and securities operations as well as a drop in loan loss provisions. <br />
<br />
Bonds rallied following the death of former President Nestor Kirchner on Oct. 27. Investors bet it would lead his wife, current President Cristina Fernandez, to adopt more market-friendly policies. But expectations of a shift are fading as she has vowed to stick to the same policy tack. <br />
<br />
The peso-denominated 2033 discount bond slipped 1.13% in price terms to ARS175, to yield 7.62%. The dollar-denominated 2015 Boden bond shed 0.67% to close at ARS370.50, with the yield at 9.12%. The peso eased Monday, trading at ARS3.9725 to the dollar compared to ARS3.965.<br />
<br />
<br />
<span style="font-size: x-large;">PERU: </span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Peru's September GDP Expanded 10.41% </span><br />
Peru's gross domestic product expanded 10.41% in September over the same month a year earlier, the government said. In the first nine months of the year GDP rose 8.72% over the same period a year earlier. <br />
<br />
The National Statistics Institute, or INEI, said Monday that the construction sector expanded 22.97% in September, while activity in the manufacturing sector grew 16.68% in the same month. Finance sector activity increased 16.58%, while the retail sector rose 10.96%. <br />
<br />
Electricity and water production increased 6.82%, while transportation and communications activity increased 5.43%. Farming sector activity increased 4.08%. <br />
<br />
Production in Peru's mining and hydrocarbon sector fell 2.74% in September, while fishing sector production was down 36.13%. <br />
____________________________________________________________<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European Markets:</span></div><br />
<br />
European stocks climbed in late trading, with the commodities declining against the dollars increase. European stock markets finished higher on Monday, as deal speculation and U.S. economic data, showing a rise in retail sales, buoyed sentiment. <br />
<br />
The Stoxx Europe 600 index gained 0.8% to end at 272.36. The index closed down 0.7% last week.<br />
<br />
The Financial Times reported Monday that officials held informal talks into Sunday evening to determine whether a bailout package was needed by the market open. Talks broke up, the newspaper said, without action. <br />
<br />
A meeting of finance ministers in Brussels on Tuesday is expected to command extra attention, said analysts.<br />
<br />
The European Union's statistics agency revised Greece's 2009 fiscal deficit to 15.4% of gross domestic product, up from a previous estimate of 13.6%. The Greek finance ministry forecast its 2010 deficit at 9.4% of GDP.. <br />
<br />
<br />
<br />
<span style="font-size: x-large;">LONDON:</span><br />
The FTSE 100 index added 0.4% to end at 5,820.41, as shares of platinum producer Lonmin rose 4% following well-received financial results.<br />
<br />
Shares of information-technology group Invensys PLC surged more than 9% on weekend press speculation that it could be a takeover target of China Southern Rail. <br />
<br />
In a statement, Invensys denied it had received an approach or had any discussions regarding a possible offer for the company or about a strategic partner taking a minority stake.<br />
<br />
Shares of Rolls-Royce Group PLC fell 2.3% on further worries about some of its engines. <br />
<br />
<br />
<br />
<span style="font-size: x-large;">GERMANY: </span><br />
The DAX 30 index rose 0.8% to 6,790.17. <br />
<br />
<span style="font-size: x-large;">FRANCE:</span><br />
France's CAC 40 index rose 0.9% to 3,864.24.<br />
<br />
Shares of NicOx SA rallied 4.2% as the French drug maker said it and partner Bausch & Lomb began a Phase IIb clinical study of a drug candidate targeted at glaucoma and ocular hypertension. <br />
<br />
<span style="font-size: x-large;">IRELAND:</span><br />
Shares of Allied Irish Banks PLC rallied 5.7% in Dublin, recovering from intraday losses, as the Irish ISEQ rose 0.7%.<br />
<br />
<br />
<br />
____________________________________________________________<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Asian Pacific Markets:</span></div><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Asian Stocks Mixed, Dollar Uptrend Continues</span></div>The Nikkei 225 climbed more than 100 points marking a 1.06% rise at the close.<br />
The Shanghai Composite rose 28.98 points, up (+0.97%), and the Hang Seng declined 195.40 points, or (-0.81%) . <br />
<br />
<span style="font-size: x-large;">CHINA:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA'S PMI CLIMBS</span><br />
China's CFLP manufacturing and non-manufacturing PMIs for October came in better than I had expected. Although October tends to be a somewhat weaker month from a seasonal perspective, the manufacturing PMI rose to 54.7 from 53.8.The closely-watched ratio of new orders to stocks of finished goods remains elevated. <br />
<br />
The non-manufacturing PMI followed a trend similar to that of 2008 and registered 60.5 compared to 61.7 in September. The GDP-weighted PMI (manufacturing and non-manufacturing) is following a pattern similar to that of last year. <br />
<br />
<span style="font-size: x-large;">JAPAN:</span><br />
The dollar traded near a six-month high versus the yen after better-than-expected Japanese growth figures were reported.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">JAPAN GDP GROWS</span></div>The Japanese government reported that the real gross domestic product rose 3.9% during the July-to-September period, up from a revised 1.8% the previous quarter.<br />
<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(MONDAY, NOV 15, 2010 4:00 PM EST)</b></i><br />
EUR/USD 1.3600 -0.0094 (-0.69%)<br />
USD/JPY 83.0300 +0.6000 (0.73%)<br />
GBP/USD 1.6066 -0.0079 (-0.49%)<br />
CAD/USD 0.9926 +0.0022 (0.22%)<br />
USD/HKD 7.7522 +0.0014 (0.02%)<br />
USD/CNY 6.6418 +0.0050 (0.08%)<br />
AUD/USD 0.9879 +0.0024 (0.24%)<br />
<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(MONDAY, NOV 15, 2010 4:05PM EST)</b></i><br />
Shanghai 3,014.41 +28.98 (0.97%)<br />
Nikkei 225 9,827.51 +102.70 (1.06%)<br />
Hang Seng Index 24,027.18 -195.40 (-0.81%)<br />
TSEC 8,240.65 0.00 (0.00%)<br />
FTSE 100 5,820.41 +23.54 (0.41%)<br />
DJ EURO STOXX 50 2,848.45 +26.02 (0.92%)<br />
CAC 40 3,864.24 +33.12 (0.86%)<br />
S&P TSX 12,726.08 -23.16 (-0.18%)<br />
S&P/ASX 200 4,688.00 -4.70 (-0.10%)<br />
BSE Sensex 20,309.69 +152.80 (0.76%)<br />
<br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MONDAY'S U.S. ECONOMIC CALENDAR:</span><br />
<br />
<b>8:30 a.m.</b><br />
Oct Advance Monthly Sales for Retail & Food Services Overall Sales (previous +0.6%), Sales, Ex-Auto (previous +0.4%)<br />
<br />
<b>8:30 a.m.</b><br />
Nov Empire State Manufacturing Survey Manufacturing Index (previous 15.73), Employment Index (previous 21.67), New Orders Index (previous 12.9), Prices Received Index (previous 8.33)<br />
<br />
<b>10:00 a.m.</b><br />
Sept. Manufacturing & Trade: Inventories & Sales Total Inventories (previous +0.6%)<br />
<br />
<br />
<b>Financial Conferences:</b><br />
<br />
Among the significant conferences this week are the Sidoti & Co. New York II Emerging Growth Institutional Investor Forum on Monday and Tuesday in New York; REITWorld: NAREIT's Annual Convention for All Things REIT from Monday through Wednesday in New York; Lazard Capital Markets Annual Healthcare Conference on Tuesday and Wednesday in New York; Morgan Stanley Consumer & Retail Conference on Tuesday and Wednesday in New York; Bank of America Merrill Lynch Credit Conference on Wednesday and Thursday in New York; and Deutsche Bank Securities Media and Telecommunications Conference on Wednesday and Thursday in Miami. <br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, FRIDAY, NOV. 12, 2010:</span><br />
<br />
<b>Stocks:</b><br />
U.S. stocks and commodities slid amid continued European debt worries and concerns that China could be moving toward further tightening of its monetary policy. Commodities tumbled across the board Friday, part of a wider market selloff as the dollar regained just below the unchanged mark for the day.<br />
<br />
<b>Treasurys:</b><br />
Treasurys dropped when many investors cashed out of the bond market as the Federal Reserve kicked off a program to buy $600 billion in government debt within the next eight months. Demand for safe-haven U.S. government bonds also wilted as concern over financing problems in Ireland eased. "You buy in anticipation of an event that is supposed to be good and sell it when the news occurs, because the good news is already priced in," said Ted Ake, head of Treasury and agency trading at Societe Generale.<br />
<br />
<b>Forex:</b><br />
The euro clawed its way from a six-week low against the dollar as Ireland issued multiple denials it was on the verge of requesting an emergency European Union lifeline. An earlier statement from EU leaders doused some concerns that had flared in the region's smoldering sovereign-debt crisis, helping the common currency bounce strongly from its lowest levels since late September.<br />
<br />
<br />
<br />
© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com1tag:blogger.com,1999:blog-11562244.post-83839138706622352922010-11-12T07:04:00.000-08:002010-11-21T16:51:26.259-08:00Stock Market Update - Friday, November 12, 2010 - Cautious Lower Outlook<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Friday, November 12, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>USA EQUITY INDEXES: (NOV. 12, 4:05 PM EST)</b></i><br />
<br />
<b>Dow Jones 11,192.58 <span style="color: red;">-90.52 (-0.80%)</span><br />
S&P 500 1,199.21 <span style="color: red;">-14.33 (-1.18%)</span><br />
Nasdaq 2,518.21 <span style="color: red;">-37.31 (-1.46%)</span></b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<br />
<b>Dow Jones 3:30 PM Averages: DJIA 11,181.83 DN 101.27</b><br />
30 INDUS 11,181.83 DN 101.27 OR 0.90%<br />
20 TRANSP 4,808.28 DN 48.56 OR 1.00%<br />
15 UTILS 401.29 DN 3.12 OR 0.77%<br />
65 STOCKS 3,882.28 DN 35.47 OR 0.91%<br />
<br />
<i><b>SECTOR SUMMARY:</b></i><br />
Basic Materials -2.25%<br />
Capital Goods -1.99%<br />
Conglomerates -0.68%<br />
Cons. Cyclical -1.18%<br />
Cons. Non-Cyclical-0.54%<br />
Energy -1.86%<br />
Financial -1.32%<br />
Healthcare -0.91%<br />
Services -1.01%<br />
Technology -1.23%<br />
Transportation -0.94%<br />
Utilities -0.82% </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<i><b> US COMMODITY PRICES: (NOV. 12, 4:10 PM EST)</b></i><br />
Crude Oil 84.61 - 0.32%<br />
Natural Gas 3.82 + 0.50%<br />
Gasoline 2.21 -<br />
Heating Oil 2.36 -<br />
Gold 1368.60 - 2.85%<br />
Silver 26.09 - 5.74%<br />
Copper 3.90 - 2.94%<br />
<br />
<i><b>US DOLLAR FUTURES INDEX DXY: NOV. 12, <span style="color: red;">4:06PM EST: 78.10 Down 0.12 (0.15%)</span></b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Dollar Regains - Stocks Decline</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Dollar climbing back up. At 10:30 the dollar declined from its earlier high.</b></i><br />
<br />
U.S. stocks sank broadly Friday as shares of materials and energy companies tumbled on concerns that demand from China could slow. <br />
Stocks and commodities slid, extending the biggest weekly slump in three months for U.S. benchmark indexes. Commodities dropped amid a regained dollar move upward, but not breaking above Thursdays closing numbers.<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The Standard & Poor’s 500 Index plunged 1.3 percent to 1,197.68 at 2:21 p.m. in New York. The Thomson Reuters/ Jefferies CRB index of commodities fell the most in 18 months as oil and copper tumbled more than 3 percent.The S&P 500 was poised to halt a five-week string of gains, its longest since April. The S&P 500 has fallen about 2.3 percent over the past five days, its biggest drop since the second week of August. <br />
<br />
<br />
Earlier, the Dow Jones Industrial Average had fallen 128 points. The measure's losses crept into triple digits as commodities prices sank. The Nasdaq Composite fell 1.7% to 2511. The Standard & Poor's 500-share index lost 1.4% to 1197.<br />
<br />
As the Dollar struggles to regain its Thursday position, there is an opportunity to buy in to commodities and precious metal at the day's low. <br />
<br />
U.S. stocks slid Friday morning, led by materials and energy sectors as the dollar approached resistance.The U.S. dollar weakened against the euro, which was trading recently at $1.3716, up from $1.3659 late Thursday. <br />
<br />
Worries resurfaced that monetary tightening from China could be on the way as the G20 meeting shared little tangible news of progress. The Dow Jones Industrial Average fell 59 points, or 0.5%, to 11224. American Express was the measure's worst performer, shedding 1.4%.<br />
<br />
<br />
<div style="color: #e06666; font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. BANK FAILURES:</span></div><span style="font-size: large;"><b>The FDIC Closed Banks Friday After Hours</b></span><br />
The U.S. Government FDIC regulators closed several US Banks late Friday and seized all assets.The Federal Deposit Insurance Corp announced it closed additional banks. Friday's announcement brings the total failures for 2010 to 146. <br />
<br />
Copper Star Bank, Scottsdale, AZ., November 12, 2010 <br />
Darby Bank & Trust Co., Vidalia, GA., November 12, 2010<br />
Tifton Banking Company, Tifton, GA., November 12, 2010<br />
<br />
<br />
<span style="font-size: small;">To see the complete list of failed banks and credit unions visit:</span><br />
<br />
<span style="font-size: large;">Online Consultancy Network™ Bank Failure List</span><br />
<a href="http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html">http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html</a> <br />
<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">G-20 Refuses To Back U.S. Push on China's Currency</span><br />
Leaders of 20 major economies on Friday refused to back a U.S. push to make China boost its currency's value, keeping alive a dispute that raises fears of a global trade war amid criticism that cheap Chinese exports are costing American jobs.<br />
<br />
A joint statement issued by the leaders including President Obama and China's Hu Jintao tried to recreate the unity that was evident when the Group of 20 rich and developing nations held its first summit two years ago during the global financial meltdown.<br />
<br />
But deep divisions, especially over the U.S.-China currency dispute, left G-20 officials negotiating all night to draft a watered-down statement for the leaders to endorse.<br />
<br />
<div class="inside-copy">The G-20's failure to adopt the U.S. stand has underlined Washington's reduced influence on the international stage, especially on economic matters. In another setback, Obama also failed to conclude a free trade agreement this week with South Korea.</div><div class="inside-copy"><br />
</div>The biggest disappointment for the United States was the pledge by the leaders to refrain from "competitive devaluation" of currencies. Such a statement is of little consequence since countries usually only devalue their currencies...<br />
<br />
<i><b>Read the breaking news at USA Today: </b></i><br />
<a href="http://www.usatoday.com/money/economy/2010-11-12-g20-summit_N.htm?csp=34">http://www.usatoday.com/money/economy/2010-11-12-g20-summit_N.htm?csp=34 </a><br />
<br />
<br />
<span style="font-size: large;">OBAMA, HU STAKE POSITIONS ON YUAN</span><br />
The U.S. and Chinese presidents, meeting on the sidelines of the G-20 summit, appeared far apart on matters ranging from currency valuation to intellectual-property rights.<br />
<br />
<br />
<br />
<span style="font-size: large;">SOFT COMMODITIES DECLINE: </span><br />
<br />
U.S. agriculture commodities sold off as well. Soybeans futures recently traded 2.4% lower to $13.07 a bushel, while corn fell 2% to $5.53 a bushel at the Chicago Board of Trade on concerns the tightening of Chinese monetary policy would dilute the strength of export demand for U.S. crops. China is the leading importer of U.S. soybeans and off to a record pace for the current crop. Analysts also expect China to reemerge as a big buyer of U.S. corn this year. <br />
<br />
The declines also spilled over into wheat and live cattle futures. Analysts expect the strong global demand that has driven agriculture commodity prices higher this year to continue. Soybean futures jumped to 26 month highs this week, while corn futures have rallied 70% since June. <br />
<br />
<span style="font-size: large;">BEFORE THE BELL:</span><br />
<br />
The Dow Jones Industrial Average (DJIA) is headed for an opening loss of about 52 points, while the S&P 500 Index (SPX) is trading roughly 8.5 points below fair value. Fears of a Chinese interest rate hike and rumors of an Irish bailout have kicked off a wave of global selling<br />
<br />
<span style="font-size: large;">EQUITIES NEWS:</span> <br />
<br />
Aluminum maker Alcoa was the Dow's worst performer on Friday, sliding 3.4% on concerns over demand from China. Boeing was also weak, shedding 2.9% after Bernstein Research cut its investment rating on the company to "market perform" from "outperform," citing "greater margin risk" on the 787 aircraft.<br />
<br />
Department store operator Dillard's surged 11% after its fiscal third-quarter earnings soared 80% on stronger margins, modestly lower sales and lower expenses.<br />
<br />
<span style="font-size: large;">AGILENT'S PROFIT RISE ABOVE VIEWS</span><br />
Agilent Technologies 4Q earnings rise to $232 million, or 66c a share, topping the company's expectation, as it benefits from a broad-based increase in demand and as an acquisition adds to revenue. Shares gain 1%. <br />
<br />
<span style="font-size: large;">JC PENNEY PROFIT UP 63% ON BETTER SALES</span><br />
Department-store operator's 3Q earnings climb to $44 million, or 19c a share, as it reports modestly improved sales and fewer charges than a year ago. Penney last week reported that total sales edged up 0.2% to $4.19 billion. Shares fall 2%.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CRUDE OIL:</span></div><i><b>OIL FUTURES: Nymex Crude Closes Down $2.93 At $84.88/ a barrel </b></i><br />
US Crude Oil $ 84.93 per barrel<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Oil Falls the Most in Three Weeks</span><br />
Crude futures extends Losses, falling below $85/Barrel. Crude-oil prices slid more than 3.5% . Earlier crude was down 2.8% at $85.35 a barrel on the New York Mercantile Exchange in early morning trades as the dollar showed a little more strength.<br />
.<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NATURAL GAS:</span></div><i><b>US GAS: Futures Close Down 3.3% At $3.799/MMBtu </b></i><br />
Nat Gas $ 3.89<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">PRECIOUS METALS:</span></div><i><b>Gold: $ 1,364</b></i><br />
<i><b>Silver: $ 25.94</b></i><br />
<br />
COMEX gold down $33.80 (-2.41%) to $1369.50, COMEX silver down $1.325 (-4.83%) to $26.080. Gold futures dropped more than 3% as the dollar regained strength. The most-actively traded gold contract, for December delivery, was recently down $41.40, or 3%, at $1,361.90 a troy ounce on the Comex division of the New York Mercantile Exchange. <br />
<br />
At the opening bell the most-actively traded gold contract was recently down 1%, at $1,389 a troy ounce on the Comex division of the NYMEX<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS:</span><br />
The yield on the 10-year Treasury note increased eight basis points to 2.73 percent and the two-year yield gained six basis points, the most in 15 months, to 0.49 percent. Investments in non-marketable state and local government securities Wednesday totaled $1.12 billion, the U.S. Treasury said in a report. Redemptions of the securities known as "slugs" were $45 million. <br />
<br />
3 Month 0.11% 0.00 (0.00%)<br />
6 Month 0.15% +0.01 (7.14%)<br />
2 Year 0.50% +0.02 (4.17%)<br />
5 Year 1.35% +0.07 (5.47%)<br />
10 Year 2.74% +0.06 (2.24%)<br />
30 Year 4.27% 0.00 (0.00%)<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CONSUMER'S STILL HAVE SOME HOPE</span><br />
<i><b>Consumer sentiment levels rose to their best reading since June as of the middle of November. </b></i><br />
<br />
The Reuters/University of Michigan consumer sentiment index's preliminary reading for November rose to 69.3 from the October level of 67.7 and the 68.2 final reading in September. The mid-November current conditions index stood at 79.7, from 76.6 in October, while the expectations index came in at 62.7 compared with 61.9 in October. <br />
<br />
Within the Michigan survey, the early November one-year inflation expectations reading stood at 3.0%, up from 2.7% the month before, while the five-year inflation reading was 2.8%, from 2.8%.<br />
<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Toronto Stocks Edge Lower</span></div>By mid-day most of Toronto listed stocks declined in a broad sell-off. TheTSX S&P dropped 266 points. In morning trading the materials, energy and financial all sectors declined. Commodity prices fell sharply. <br />
<br />
At 11:45 a.m. EST (1645 GMT), the S&P/TSX Composite Index was down 167.59 points, or 1.3%, at 12767.15. Decliners more than tripled advancers 1064 to 325. Trading volume was 224.2 million shares. The S&P/TSX 60 Index was down 9.79 points, or 1.3%, to 732.07 points.<br />
<br />
<b>Toronto Indexes, Volume; 3 PM EST Composite Down 197.82</b><br />
<br />
S&P/TSX Composite 12736.92 off 197.82 or 1.5%<br />
S&P/TSX 60 Index 730.53 off 11.33 or 1.5%<br />
Financials 177.07 off 2.28 or 1.3%<br />
Materials 417.10 off 8.33 or 2.0%<br />
Energy 297.92 off 5.98 or 2.0%<br />
Industrials 105.23 off 1.33 or 1.2%<br />
IT 30.11 off 0.27 or 0.9%<br />
<br />
Volume Friday Thursday<br />
2-3 52.2M 54.4M<br />
9:30-3 444.3M 396.5M<br />
<br />
<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">South American Markets:</span></div><br />
<br />
<span style="font-size: x-large;">BRAZIL:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Close Lower</span><br />
The Ibovespa stocks index fell 1.2% to 70367. The index is down 0.4% from the beginning of November.<br />
<br />
Shares in Brazil's government-run oil company, Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, were hammered after the company's third-quarter results, published late Thursday, were disappointing and showed a rapid increase in costs. The company was also hurt by oil prices, which fell below $85 a barrel, along with many other major commodities. Its preferred shares were down 3.3% at BRL25.85. <br />
<br />
The other main blue-chip stock, miner Vale SA (VALE, VALE5.BR), was down 1.8% at BRL49.11. <br />
<br />
Brazilian airline GOL Linhas Aereas Inteligentes SA (GOL, GOLL4.BR) saw a rise in third-quarter net profit as a booming economy fueled demand for air travel, which send the share price higher. The company said Friday that third-quarter net profit increased to 110 million Brazilian reais ($64 million) from BRL77.9 million a year earlier. Preferred shares were up 1.6% at BRL28.50. <br />
<br />
The world's largest beef producer, JBS SA (JBSAY, JBSS3.BR), will proceed with plans to sell shares in its U.S. subsidiary, but probably not until the third quarter of 2011, a senior executive said. JBS reported third-quarter net revenue rose to BRL14.1 billion from BRL8.37 billion on strong sales of beef, pork and chicken, especially in the U.S. JBS's shares were down 0.6% at BRL6.38.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Govt Celebrates G-20 Outcome</span><br />
<br />
Brazilian government officials expressed contentment with the outcome of discussions on foreign-exchange rules at the meeting of Group of 20 member nations, Brazil's Estado news agency reported Friday. <br />
<br />
Finance-ministry officials applauded the wording of a communique they said would clearly allow for some use, albeit limited, of currency-control mechanisms by emerging-market countries to impede excessively heavy flows of incoming foreign portfolio investment. <br />
<br />
"This is absolutely unheard of," said Finance Minister Guido Mantega at a press conference following the talks. <br />
<br />
Brazil's delegation reportedly brought pressure at the meeting to maintain the possibility of defensive measures against overvaluation of its currency, the real, and the formation of asset bubbles in local markets. <br />
<br />
While the final communique from the meeting didn't use the expression "capital controls," it admitted use of "macro-prudential measures," which analysts said could amount to the same practice. <br />
<br />
Brazil last month introduced sharp tax increases on incoming investment as a measure to discourage short-term capital inflows. The government raised its financial operations tax, or IOF, on fixed-income securities to 6% from 2% previously and also raised the tax for guarantees on local derivatives investments. <br />
<br />
The currency has gained about 30% against the dollar since early 2009 as a result of heavy currency inflows. As a result, Brazilian industry officials have complained that the country's exports have become less competitive abroad and foreign imports have become more attractive locally. <br />
<br />
The real gained about half a percentage point Friday to end at BRL1.723 to the dollar as investors reacted to the possibility of more local measures to control inflows.<br />
<br />
<br />
<br />
<span style="font-size: x-large;">CHILE:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Finish Lower</span><br />
<br />
Chile's blue-chip Ipsa index ended lower Friday as concerns about Chinese monetary policy and euro-zone debt weighed on the market and as investors continued to book profits. <br />
<br />
The Ipsa lost 0.7% to close at 4977.95, while market volume grew to 105.1 billion Chilean pesos ($218.4 million) from CLP104.7 billion the previous session. <br />
<br />
The day was highlighted by a China Trade Deligation visited with officials to discuss haveing Chile be a larger part of a foodstuffs supplier to China. <br />
<br />
Following three straight record closings prior to Thursday's session, investors were keen to take profits. <br />
<br />
Commodities-related companies, whose shares tend to react quickly to sharp upturns and downturns in global growth forecasts, were among the biggest decliners. <br />
<br />
Fuel and forestry conglomerate Copec (COPEC.SN), the Ipsa's heaviest-weighted share, declined 1.3% to CLP9,676.40; pulp and paper producer CMPC (CMPC.SN) shed 1.7% to CLP26,848.00; integrated steel and iron-ore producer Cap (CAP.SN) dropped 1.1% to CLP25,751.00; and specialty chemical and fertilizer producer SQM's (SQM) more liquid B-series shares (SQM-B.SN) lost 1.4% to CLP24,513.00. <br />
<br />
Retail holding giant Cencosud (CENCOSUD.SN) fell 2.3% to CLP3,544.60, after its third-quarter net profit of CLP51.1 billion came in "9% behind analysts' expectations," according to local investment bank Celfin Capital. <br />
<br />
Chile's Peso ended weaker against the dollar as international copper prices dropped on fears China, the world's largest consumer of the industrial metal, will move to slow its economy. <br />
<br />
The peso ended at CLP481.20 to the dollar, weaker than Thursday's close of CLP480.00, while trading in a range of CLP479.30 to CLP482.20. <br />
<br />
In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended mixed in light over-the-counter trading. <br />
<br />
The yield on five-year BCU bonds ended unchanged on the day at 2.68%, while the yield on 10-year BCUs closed at 3.05%, up from 3.03% the previous session.<br />
<br />
<br />
<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European Markets:</span></div><br />
<i><b>The Stoxx Europe 600 index dropped 0.4%</b></i> to settle at 270.18, with mining stocks leading the decline. European stocks ended lower Friday after fresh worries over the Euro-zone economy and a possible Chinese rate hike sent shares tumbling in Shanghai, while bank stocks bounced back after European leaders sought to provide some reassurance to nervous sovereign debt holders.<br />
<br />
In a joint statement, the finance ministers of France, Germany, Italy, Spain and the U.K. said there would be "no impact whatsoever" on existing sovereign bondholders if a new crisis-resolution process were introduced for struggling countries. <br />
<br />
The euro-zone economy slowed in the third quarter, while large differences remained between the performance of stronger and weaker members. <br />
<br />
<br />
Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets, <span id="search" style="visibility: visible;">the largest <i>global</i> banking group in the world,</span> said Friday "there is so much money floating around that investors are buying every dip in the markets." That's created a situation in which markets have been "very overbought" for the last couple of months and means investors shouldn't rule out the possibility of a sharp downward correction, he said. "Things can turn quite ugly quite fast," Gijsels noted. <br />
<br />
<span style="font-size: x-large;">GERMANY:</span><br />
<i><b>The German DAX 30 index gained 0.2% to finish at 6,734.61. </b></i><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Deutsche Bank reports loss of 1.2bn euros </span><br />
<br />
<div class="introduction">Germany's largest bank, Deutsche Bank, has reported a third-quarter loss linked to its planned purchase of Deutsche Postbank.</div><div class="introduction"><br />
</div>It reported a pre-tax loss of 1.2bn euros ($1.66bn; £1.05bn) in the quarter, hit by a 2.3bn-euro charge connected to the Postbank deal.<br />
<br />
Excluding the Postbank costs, net profit for the quarter was 1.1bn euros.<br />
Deutsche Bank owns a 30% stake in Postbank and wants to take full control by buying the remaining shares.<br />
<br />
Read the entire article at the BBC News:<br />
<a href="http://www.bbc.co.uk/news/business-11634666">http://www.bbc.co.uk/news/business-11634666</a><br />
<br />
<span style="font-size: x-large;">LONDON:</span><br />
<i><b>The U.K.'s FTSE 100 settled 0.3% lower at 5,796.87.</b></i><br />
<br />
The UK is entering into talks with three tax havens, as part of moves officials hope could help raise £10 billion for the Treasury by 2015. </div><div style="font-family: Arial,Helvetica,sans-serif;"><a href="http://www.bbc.co.uk/news/business-11749085">http://www.bbc.co.uk/news/business-11749085</a><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.K.'S CAMERON TO VISIT RUSSIA</span><br />
U.K. Prime Minister Cameron said he had accepted an invitation to visit Russia from President Medvedev, marking a relaunch of relations.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<i><b>Bank Stocks Turned Mostly Higher. </b></i><br />
<br />
Royal Bank of Scotland Group, one of the stocks hit the hardest over the Ireland worries, gained 2.2%.<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Rolls-Royce Group PLC climbed 4.6% after the company said it has identified the component that caused the failure last week of one of its Trent 900 engines on an Airbus A380 jet operated by Qantas Airways Ltd., the Australian carrier, prompting an emergency landing. <br />
<br />
Rolls-Royce said it will begin a program to replace the affected components on all Trent 900 engines. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">BG Group traded down 1.8% in London.<br />
<br />
<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">IRELAND: </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>The Irish ISEQ added 0.3%</b></i>, helped by a 16.3% jump in the highly volatile shares of Allied Irish Banks and a 6.8% rise for Bank of Ireland, which also issued a trading update. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The cost of insuring Irish government debt against default fell, a reversal after repeatedly hitting fresh highs in recent days. <br />
<br />
Irish Finance Minister Brian Lenihan, denied rumors that Dublin was set to ask for a bailout.<br />
<br />
The Republic of Ireland's government has not formally denied it is in talks with the EU<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Ireland 'In Preliminary Talks with EU on Bailout'</span><br />
<i><b>The Republic of Ireland is in preliminary talks with EU officials for financial support, the BBC has learned.</b></i><br />
<br />
It is now no longer a matter of whether but when the Irish government formally approaches the European Financial Stability Fund (EFSF) for a bailout, correspondents say.<br />
<br />
<u>The provisional estimate for EFSF loans is believed to lie between 60bn and 80bn euros ($82-110bn; £51-68bn).</u><br />
<br />
Dublin says there are no talks on an application for emergency EU funding. The European Commission would not formally comment on the matter.<br />
<br />
Eurozone officials told the Reuters news agency on Friday that discussions were under way, with one saying that it was "very likely" Ireland would receive financial assistance.<br />
<br />
The head of the International Monetary Fund (IMF), Dominique Strauss-Kahn, said on Saturday that it had not been asked for aid. The IMF and EU had to step in with a 110bn-euro bailout package for Greece in May, sparking a Europe-wide sovereign debt crisis.<br />
<br />
BBC business correspondent Joe Lynam says any bailout would not be agreed this weekend, but might though come as early as next month.<br />
<br />
A meeting of the Eurogroup, composed of the EU member states whose currency is the euro, is scheduled for 6 December.<br />
<br />
The Economic and Financial Affairs Council (Ecofin) - comprising the economics and finance ministers of eurozone countries - will gather the following day.<br />
<br />
<br />
Read the entire article at the BBC News:<br />
<a href="http://www.bbc.co.uk/news/business-11750676">http://www.bbc.co.uk/news/business-11750676</a> <br />
<br />
<br />
<br />
<span style="font-size: x-large;">FRANCE: </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>The French CAC 40 index fell 0.9% to close at 3,831.2.</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Total SA fell 3.3% in Paris </div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Shares of European Aeronautic Defence & Space Co. dropped 4.4% in Paris. The firm posted a third-quarter net profit, but cautioned that deliveries of Airbus A380 planes could be impacted because of issues with Rolls-Royce engines.</span><span style="font-family: Arial,Helvetica,sans-serif;">Credit Agricole shares rose 1.7% and Natixis added 1%. </span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: x-large;">PORTUGAL:</span><br />
<i><b>Portugal's PSI 20 rose 0.5%.</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Asian Pacific Markets:</span></div><br />
<span style="font-size: x-large;">CHINA:</span><br />
China's shares fall 5.2%, their biggest daily decline in more than 14 months, as mounting concerns over further monetary tightening measures in the near term and Europe's sovereign debt trigger a broad sell-off.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CHINA'S SAIC FINALIZING PLANS FOR GM STAKE</span><br />
<br />
China's biggest auto maker is close to finalizing a plan to buy a stake in General Motors, which is preparing for an initial public offering next week. High investor demand could drive the IPO price to $30 or slightly above. <br />
<br />
<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(FRIDAY, NOV 12, 2010 3:30 PM EST)</b></i><br />
<br />
EUR/USD 1.3694 +0.0033 (0.24%)<br />
USD/JPY 82.4300 -0.1200 (-0.15%)<br />
GBP/USD 1.6145 +0.0024 (0.15%)<br />
CAD/USD 0.9904 -0.0060 (-0.60%)<br />
USD/HKD 7.7508 -0.0006 (-0.01%)<br />
USD/CNY 6.6368 +0.0128 (0.19%)<br />
AUD/USD 0.9855 -0.0109 (-1.09%)<br />
<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(FRIDAY, NOV 12, 2010 3:30 PM EST)</b></i><br />
<br />
Shanghai 2,985.44 -162.31 (-5.16%)<br />
Nikkei 225 9,724.81 -136.65 (-1.39%)<br />
Hang Seng Index 24,222.58 -477.72 (-1.93%)<br />
TSEC 8,316.05 -120.90 (-1.43%)<br />
FTSE 100 5,796.87 -18.36 (-0.32%)<br />
DJ EURO STOXX 50 2,822.43 -8.79 (-0.31%)<br />
CAC 40 3,831.12 -36.23 (-0.94%)<br />
S&P TSX 12,747.41 -187.33 (-1.45%)<br />
S&P/ASX 200 4,692.70 -35.90 (-0.76%)<br />
BSE Sensex 20,156.89 -432.20 (-2.10%)<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FRIDAY'S U.S. ECONOMIC CALENDAR:</span><br />
<br />
8:30 a.m.<br />
Federal Reserve Governor Daniel Tarullo at financial regulatory reform symposium<br />
<br />
9:55 a.m.<br />
Nov Thomson Reuters / University of Michigan Survey of Consumers - preliminary Sentiment Index Mid Month (expected 69), Expectations Index Mid Month (previous 64.6), Value (Current Period) Mid Month (previous 73)<br />
<br />
4:30 p.m.<br />
Nov 10 Foreign Central Bank Holdings Foreign US Debt Holdings (previous 3.33T), US Foreign Agency Holdings (previous 734.11B), Foreign Treasury Holdings (previous 2.59T)<br />
<br />
4:30 p.m.<br />
Nov 10 Federal Discount Window Borrowings Primary Credit Borrowings (previous 31M), W/E Daily Avg (previous 64M), Discount Window Borrowings (previous 47.17B), Discount Window Borrowings W/E Daily Avg (previous 47.15B)<br />
<br />
4:30 p.m.<br />
Nov 1 Money Stock Measures<br />
<br />
4:35 p.m.<br />
Federal Reserve Governor Sarah Bloom Raskin speech on mortgages <br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, THURSDAY, NOV. 11, 2010:</span><br />
<br />
Stocks:<br />
U.S. stocks fell amid a rising dollar. Nasdaq fell on disappointing outlook from Cisco Systems that hurt technology stocks, and fears that Ireland faces a sovereign-debt crunch. <br />
<br />
Treasurys:<br />
The Treasury market was closed in observance of Veteran's Day. Treasury futures fell, following the lead of German bunds.<br />
<br />
Forex:<br />
The euro dropped to its lowest levels in more than a month against the dollar as concerns once again heated over the region's simmering issues of sovereign debt. Illustrating the increasing worry, the costs to insure against default on government debt issued by Portugal, Ireland and Spain hit record highs. Also leading investors away from higher-yielding assets was a higher-than-expected reading of Chinese inflation, triggering speculation China could tighten policy to put a brake on its growth.<br />
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</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-80435609793264239732010-11-11T05:25:00.000-08:002010-11-21T16:52:56.002-08:00Stock Market Update - Thursday, Nov.11, 2010 - Mixed Outlook<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Thursday, Nov.11, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines:</span> </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div class="separator" style="clear: both; font-family: Arial,Helvetica,sans-serif; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>USA EQUITY INDEXES: (NOV. 11, 4:10 PM EST)</b></i><br />
<i><b><br />
</b></i><br />
Dow Jones 11,283.10 -73.94 (-0.65%)<br />
S&P 500 1,213.54 -5.17 (-0.42%)<br />
Nasdaq 2,555.52 -23.26 (-0.90%)<br />
<br />
<br />
<br />
<b>Dow Jones 3:30 PM Averages: DJIA 11,277.91 DN 79.13</b><br />
30 INDUS 11,277.91 DN 79.13 OR 0.70%<br />
20 TRANSP 4,860.53 UP 9.28 OR 0.19%<br />
15 UTILS 403.42 DN 0.06 OR 0.01%<br />
65 STOCKS 3,915.80 DN 12.38 OR 0.32% <br />
<br />
<i><b>US COMMODITY PRICES: (NOV. 11, 4:00 PM EST)</b></i><br />
Crude Oil 87.72 - 0.10%<br />
Natural Gas 3.93 + 0.13%<br />
Gasoline 2.24 -<br />
Heating Oil 2.43 -<br />
Gold 1408.84 + 0.39%<br />
Silver 27.71 + 2.10%<br />
Copper 4.02 + 1.31%<br />
<br />
<i><b>US DOLLAR FUTURES INDEX DXY: NOV. 11,<span style="font-size: small;"> </span></b></i><small><span style="font-size: small;"><b><span id="yfs_t10_dx-y.nyb">3:52PM EST</span>:</b></span> </small><big><b><span id="yfs_l10_dx-y.nyb">78.17</span></b></big> <span class="yfi_quote_price" id="yfs_c10_dx-y.nyb"><img alt="Up" border="0" height="14" src="http://l.yimg.com/a/i/us/fi/03rd/up_g.gif" width="10" /> <b class=" yfi-price-change-up
" style="color: #38761d;">0.53</b></span><span style="color: #38761d;"> </span><span class="yfi_quote_price" id="yfs_p20_dx-y.nyb" style="color: #38761d;"><b class=" yfi-price-change-up
"> (0.68%)</b></span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Stocks Lower</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><span style="font-size: large;">US Dollar Up - Stocks Slip</span></i><br />
<br />
US Stock Indexes remained lower throughout the trading day Thursday as the U.S. Dollar regained from the over-night trade pattern.. <i><br />
</i><br />
<br />
<i>US Stocks Open Lower; DJIA Down 121</i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: large;"><span style="font-size: small;">U.S. stock indexes slipped in early trading as the dollar regained against other currencies and poor earnings eyed.</span></span> The Nasdaq was down by nearly 2% and other major US indices slumped Thursday after a weak outlook from Cisco late Wednesday raised concerns about the strength of tech spending. The Dow Jones Industrial Average was down by 87 points at 10:15a.m. EST.<span style="font-size: large;"><span style="font-size: small;"> Earlier, the Dow Jones Industrial Average was down 92 points, or 0.8%, to 11264.</span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">The technology-heavy Nasdaq Composite, which has risen in 21 of the last 25 trading days, was recently down 1.4% at 2544. The Standard & Poor's 500-stock index fell 0.8% to 1209, with technology and financial stocks leading the declines. </span></span><br />
<span style="font-size: large;"><span style="font-size: small;"> </span></span><br />
<span style="font-size: large;"><span style="font-size: small;"> <br />
Before the bell, stock futures pointed lower Thursday as the dollar is trading above Wednesday's close and a weak outlook from Cisco (CSCO) late Wednesday raised concerns about the strength of tech spending. </span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">Futures declined as the dollar regained value after overnight trading. The </span></span><span id="articleText">S&P 500 futures declined 6.2 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 53 points, and Nasdaq 100 futures dipped 19.5 points.</span><span style="font-size: large;"><span style="font-size: small;"> </span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">The dollar was slightly higher, up 0.3 percent against a basket of major currencies .DXY is still 12 percent weaker than its June high. </span></span>The US Dollar Index rallied off support at 76, but is now encountering resistance at 78.5.<span style="font-size: large;"><span style="font-size: small;"> <br />
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The G20 leaders’ summit in Seoul has taken center stage amid the fact that the renewed Fed QE2 is a deliberate move to devalue the US Dollar, boost commodities and exports.</span></span><br />
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<span style="font-size: large;"><span style="font-size: small;"> </span></span><br />
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<span style="font-size: large;">THURSDAY EQUITIES:</span><br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">DISNEY EARNINGS UP</span></div><i><b>The Walt Disney Co 4Q Studio Entertainment Rev $1.59B</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">The 4th Quarter Adjusted earning per share seen at 45cents after the 4Q restructuring, charges of $58M.<br />
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Disney showed a slight improvement in revenue with earnings down a bit as it benefits from strong international box-office and consumer-products sales for "Toy Story 3." Disney's prior-year quarter included an extra week, which could hurt theme-park comparisons.<br />
<br />
<br />
Among other stocks in focus, Jabil Circuit dropped 8.1% and Flextronics fell 3.4% after Citigroup cut its investment ratings on both companies to "hold" from "buy," citing their exposure to Cisco. Other technology companies slumping after Cisco's results include Juniper Networks, which is down 1.8%, and Altera Corp., off 3.2%. <br />
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Viacom's third-quarter earnings fell 59% on write-downs at the Harmonix video-game operation, which the media company disclosed Thursday it plans to sell. Outside that, revenue improved and earnings from continuing operations rose more than analysts expected. Shares rose 4.1%. <br />
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<span id="articleText">Cisco Systems Inc's (<span id="symbol_CSCO.O_0">CSCO</span>) revenue forecasts fell far short of expectations, a blow at the end of a stronger-than-expected earnings season, underscoring the risks a still-weak economy poses to corporate profits. Cisco shares fell 16.4 percent to $20.47 in pre-market trading.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Ceremony To Launch Work On Disabled Vets Memorial</span><br />
Secretary of Veterans Affairs Eric Shinseki and actor Gary Sinise will be among the speakers at a ground-breaking ceremony Wednesday for the American Veterans Disabled for Life Memorial in Washington, D.C. The memorial will be the only permanent public tribute to more than 3 million living disabled U.S. veterans.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Veteran's Memorial Day Holiday</span></div><div style="font-family: Arial,Helvetica,sans-serif;">All U.S. Government offices, public schools, banks, and postal services will be shut in observance of the national holiday. We the citizen's of America, thank every veteran that has served our country.<br />
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We think and remember the sacrifice and loss that all American families have made during wartime. We look forward to a time when country's can find a better way to settle their differences than more bloodshed upon this earth.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CRUDE OIL:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>US Crude Oil: $87.81 per barrel</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>OIL FUTURES: Nymex Crude Closes Up 3c at $87.84/Bbl</b>Crude futures rose slightly Thursday after retreating from fresh highs reached in electronic trading following strong economic data from China. <br />
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Light, sweet crude for December delivery gained 8 cents, or 0.1%, at $87.89 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange rose a penny at $88.97 a barrel. Nymex crude previously hit a 25-month high of $88.63 in electronic trading, but retreated from that level.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Oil market participants are closely watching the fast-growing Chinese economy. The International Energy Agency expects the country to account for more than 40% of growth in global oil demand this year.<br />
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Front-month December reformulated gasoline blend-stock, or RBOB, recently fell 0.19 cent at $2.2343 a gallon. December heating oil gained 0.55 cent at $2.4364 a gallon. <br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NATURAL GAS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Natural Gas: $ 4.05 </b></i><br />
<i><b>US GAS: Futures Settle Down 2.9% At $3.927/MMBtu </b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">PRECIOUS METALS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Gold: $1,403</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Silver: $ 27.40</b></i><br />
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The most actively traded contract, for December delivery, rose $4, or 0.3%, to settle at $1,403.30 a troy ounce on the Comex division of the New York Mercantile Exchange. Comex December silver rose 54 cents, or 2%, to settle at $27.405. <br />
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Other precious metals traded in New York also rose. Nymex January platinum gained $7.90, or 0.5%, to settle at $1,745.80 an ounce, while December palladium gained $7.40, or 1.1%, to settle at $704.15.<i><b> </b></i><br />
<br />
<b>Settlements (<i>Ranges include Floor and Electronic Trading</i>):</b><br />
<br />
London PM Gold Fix: $1,398.50; previous PM $1,390.50<br />
Dec gold $1,403.30, up $4.00; Range $1,396.50-$1,417.60<br />
Dec silver $27.405, up 54 cents; Range $26.890-$27.840<br />
Jan platinum $1,745.80, up $7.90; Range $1,733.50-$1,774.70<br />
Dec palladium $704.15, up $7.40; Range $697.10-$722.90<i><b> </b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS:</span><br />
<b>In observance of Veterans Day, the U.S. Bond Market will be closed all day on Thursday, Nov. 11. U.S. Banks will also be closed. Bond sales will resume on Friday. </b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
3 Month 0.00% 0.00 (0.00%)<br />
6 Month 0.00% 0.00 (0.00%)<br />
2 Year 0.00% 0.00 (0.00%)<br />
5 Year 0.00% 0.00 (0.00%)<br />
10 Year 0.00% 0.00 (0.00%)<br />
30 Year 0.00% 0.00 (0.00%)<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US 30-Year Mortgage Rate Falls to Record Low</span><br />
U.S. mortgage rates dropped to a record low, the first decline in a month.The previous record low for the 30-year rate was 4.19 percent. <br />
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The rate for a 30-year fixed loan fell to 4.17 percent in the week ended today from 4.24 percent, Freddie Mac said in a statement. That was the lowest level in the McLean, Virginia- based mortgage-finance company’s records dating to 1971. The average 15-year rate declined to 3.57 percent from 3.63 percent.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US FORECLOSURES SLOW</span><br />
<i><b>Repossessions Fall 9% Due To Foreclosure </b><b>Suspension</b></i><br />
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93,246 more American families lost their homes last month due to bank foreclosure. Overall, foreclosures declined in October, due to a temporary stay from banks freezing foreclose auctions nation wide.<br />
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The drop in repossessions came after increases in four of the six previous months, topped by an all-time high in September, when 102,000 people lost their homes. In October, 93,246 homes were repossessed.<br />
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Banks postponed auctions of homes with mortgages in default to make sure all all the documents were properly processed and signed, and that all the paperwork was in compliance with the law. <br />
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U.S. Foreclosure filings of all kinds, including notices of default, notices of auctions and notices of auction sales, dropped 4.4% during the month, according to a report released by RealtyTrac on Thursday. But bank repossessions, the filing most affected by the freeze, shrank 8.7%.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. HOUSING PRICES DECLINE </span><br />
Home resale prices fall in 76 out of 155 of U.S. metropolitan areas in 3Q, indicating the market is losing steam without government tax credits, according to an industry report. The national median price for single-family homes, however, is nearly unchanged.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">California Deficit Seen at $25.4 Billion Dollars</span><br />
California's legislative analyst reported Wednesday that the State deficit has grown to $25.4 billion dollars. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Stocks Mixed Lower</span></div>Toronto Materials and energies declined against the US dollar moved up from overnight trades.<br />
<b>Toronto Indexes, Volume; 4:15 PM EST Composite Down 7.90</b><br />
<br />
S&P/TSX Composite 12934.74 off 7.90 or 0.1%<br />
S&P/TSX 60 Index 741.86 off 0.20 or 0.0%<br />
Financials 179.35 off 1.45 or 0.8%<br />
Materials 425.43 up 3.85 or 0.9%<br />
Energy 303.90 up 0.13 or 0.0%<br />
Industrials 106.56 off 0.40 or 0.4%<br />
IT 30.38 off 0.11 or 0.4%<br />
<br />
Volume Thursday Wednesday<br />
3-4:15 78.5M 95.5M<br />
9:30-4:15 475.0M 576.9M<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">South American Markets:</span><br />
<span style="font-size: x-large;"> <span style="font-size: small;">..</span></span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">BRAZIL:</span></div><span style="font-size: x-large;"><span style="font-size: small;"> </span></span><br />
<div style="font-family: Times,"Times New Roman",serif;"><br />
<span style="font-size: x-large;"><span style="font-size: small;">.<span style="font-size: x-large;">Brazil Stocks Close Lower</span></span></span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-size: small;">Brazil's benchmark Ibovespa stocks index closed 0.62% lower at 71,195 points. Volume was moderate at 5.99 billion Brazilian reais ($3.5 billion).</span></span></div></div><div style="font-family: Times,"Times New Roman",serif;"><i><span style="font-family: Arial,Helvetica,sans-serif;"><b>Blue chips were mostly lower at the close Thursday.</b> </span></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">State oil company Petrobras (PBR, PETR4.BR) fell 1.51% to close at BRL26.72 ahead of the release, scheduled for later Thursday, of the company's third-quarter earnings report. Mining major Vale SA (VALE, VALE5.BR) saw its shares rise 0.28% to close at BRL49.99 on higher international metals prices. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Telecom leader Tele Norte Leste Participacoes SA (TNE, TNLP4.BR), or Oi, retreated 1.85% to close at BRL25.52. Steelmaker Usiminas (USIM5.BR, USNZY) fell 0.66% to BRL22.55. Steel rival Cia Siderurgica Nacional (SID, CSNA3.BR), or CSN, declined 0.54% to BRL29.25. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), or Embraer, fell 0.64% to BRL12.35. Minas Gerais utility Cemig (CMIG4.BR) was down 3.78% to BRL28.78. Real estate developer Gafisa (GFSA3.BR) advanced 2.62% to BRL13.70.</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-size: small;"> </span></span></div><span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">Comments by Brazilian Central Bank President Henrique Meirelles during congressional testimony Thursday showed rising central bank worries about inflation. Brazil's 12-month inflation rate rose to 5.2% in October from only 4.7% in September.</span><span style="font-family: Arial,Helvetica,sans-serif;">Meirelles' comments led many investors to predict a new round of monetary tightening. </span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"></span></span> </span><br />
<span style="font-size: x-large;">Brazil Real Closes Lower</span></div><span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">The Brazilian real closed slightly weaker against the U.S. dollar Thursday as the U.S. dollar gained against the euro and other currencies worldwide. The real closed at BRL1.7160 to the dollar, weaker against the Wednesday close of BRL1.7105.</span></span></span><br />
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<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"></span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><b>Brazil's Selic base interest rate is currently a towering 10.75%.</b> </span></span></span><span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">Brazil's 12-month inflation rate rose in October to 5.2% from 4.7% in September, making a new round of monetary tightening more likely.</span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"> </span></span></span><span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"> <br />
In credit markets Thursday, interest-rate futures contracts were broadly higher, reflecting increased worries about inflation. The contracts, quoted on the Brazilian Mercantile and Futures Exchange, reflect investor expectations for annualized interest rates at future dates. <br />
<br />
In congressional testimony Thursday, Central Bank President Henrique Meirelles admitted that rising inflation is viewed as a problem by the monetary authority. </span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;">.</span> </span></div><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mexican Stocks Lower Against Dollar's Gain </span><br />
Mexico's stocks opened lower Thursday, and the peso ceded ground against the dollar.The market's IPC index of leading issues was down 0.2% to 36,354 points around 10:30 a.m. EST. Volume was 28.6 million shares worth 981.9 million pesos ($80 million).<br />
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The peso was trading weaker against the dollar at MXN12.2710, compared with MXN12.2240 at the close Wednesday.<br />
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Retailer Wal-Mart de Mexico V shares were off 0.1% to MXN33.89, and cement maker Cemex CPO shares were down 0.2% to MXN11.68. Bellwether America Movil shares were gaining 0.2% to MXN35.30.<br />
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<span style="font-size: x-large;">CHILE/PERU/COLUMBIA:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MILA TESTING NOVEMBER</span><br />
<i><b>Integrated Market in Latin American, MILA, Will Begin Nov. 22 2010</b></i><br />
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The integration of the Chilean, Colombian and Peruvian stock exchanges will create a virtuous cycle of liquidity and increased investments that will help the respective countries in their economic development, said Jose Antonio Martinez, the chief executive of the Santiago Stock Exchange. <br />
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The Integrated Latin American Market, also known as MILA, which will begin a test period on Nov. 22, is slated for completion by the end of January and will create Latin America's largest stock exchange in terms of companies listed and second largest by market capitalization, at under half the size of Brazil's. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">It will have 563 listed companies, market capitalization of some $614 billion, compared to Brazil's at $1.5 trillion, and an estimated initial daily trading volume of about $300 million. <br />
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"The merged exchange will help our countries increase their levels of investments and will, undoubtedly, make the companies more attractive and goes towards boosting economic development in each of the three nations," Martinez told Dow Jones Newswires Thursday at the exchange in downtown Santiago. <br />
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Peru's gross domestic product is expected to expand by more than 8% this year and by some 6% next year. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Chile's GDP is expected to expand by 5.4% this year and 6% in 2011</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Colombia's gross domestic product is expected to be between 5% and 6% in 2010 and by 4.5% the following year. <br />
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"The three countries are coming together to present to international and local investors a market that has greater liquidity, with more companies, with increased capitalization, which will naturally create a virtuous cycle that's attractive for companies and for investors," Martinez said. <br />
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The increased exposure to investors and greater liquidity will help reduce financing costs, he said, adding, "it's a win-win situation wherein the countries, markets, companies and investors involved all benefit." <br />
<br />
Considering their different strengths and weaknesses, the three bourses complement each other well. <br />
<br />
Chile's mining industry represents about 20% of the country's gross domestic product and the nation produces nearly a third of the world's copper, only three mining companies are listed on the local bourse.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Peru, where mining is also an important part of the economy, nearly 56% of the local stock market value is made up of miners. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Colombia's main index is made up of industrial and energy companies. <br />
<br />
"Those who want to access mining companies will be able to invest in Peru's stock exchange and those that want to invest in industrial and energy companies will have a greater array of options in Colombia.. We'll achieve greater sectoral and geographical diversification for investors and reduced risk for them," Martinez said. <br />
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The Santiago Stock Exchange is working with Chile's government to prepare legislation that will encourage more local listings of mining companies.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European Markets:</span></div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Stock shares Edged 0.2 percent Lower</span><br />
European stock markets ended Thursday's session mostly lower. The Stoxx Europe 600 index edged down less than 0.1% to close at 271.39.<br />
<br />
The economic docket during the European trade was fairly light as the only scheduled event was the European Central Bank monthly report. European bourses are trading mixed in the red; FTSE -0.04% Cac -0.32% Dax +0.06%. The iBEX dramatically underperforms -1.07%<br />
<br />
European stocks edged lower on Thursday, with Wall Street also set for modest losses, while the dollar firmed and copper prices pushed to a record high.<br />
<br />
Euro zone troubles are haunting markets again because Irish debt is under intense pressure despite a huge bank recapitalization program.<br />
<br />
The cost of insuring Spanish, Portuguese and Irish debt against default hit record highs.<br />
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The euro was 0.2 percent lower against the dollar at $1.3749 EUR= partly as a result.<br />
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<span style="font-size: x-large;">GERMANY: </span><br />
In Germany, shares in power provider RWE AG dropped 1.5% after the group said it expects new regulatory requirements to impose "substantial burdens" in the coming year. <br />
<br />
German industrial conglomerate Siemens bucked the negative trend after announcing a 70% increase in its dividend and setting ambitious growth targets. <br />
<br />
Siemens shares gained 2.6% and helped the DAX 30 index close up 0.1% at 6,723.41. <br />
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<span style="font-size: x-large;">LONDON:</span><br />
The U.K.'s FTSE 100 index dipped 0.03% to 5,815.23 as gains for mining and oil stocks were offset by losses in the financial sector.<br />
<br />
Royal Bank of Scotland Group, which is seen as one of the banks with the most exposure to Ireland, dropped 2.7% in London.<br />
Antofagasta PLC rose 4.8%, Xstrata jumped 3.7% and Kazakhmys gained 3.8% <br />
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London copper rose more than 2 percent on Thursday to a record high and crude oil scaled a 25-month high. U.S. crude was trading around $88.50 a barrel .<br />
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<span style="font-size: x-large;">FRANCE:</span><br />
The French CAC 40 index closed down 0.5% at 3,867.35, pressured by a 2.4% drop for shares of banking group Credit Agricole. Societe Generale dropped 2.1%. BNP Paribas SA fell 1.6% <br />
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<br />
<span style="font-size: x-large;">IRELAND: </span><br />
Ireland's ISEQ ended trading down 1.3%, led lower by Bank of Ireland, which slumped around 8% and is down nearly 50% since early October. <br />
<br />
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<br />
<span style="font-size: x-large;">SPAIN: </span><br />
Spain's benchmark IBEX-35 index fell 0.8% and Greece's ASE Composite index slumped 1.1%. <br />
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Spanish telecoms giant Telefonica SA, on the other hand, dropped 1.6% after the group said its third-quarter net profit nearly tripled to EUR5.06 billion ($6.98 billion), but still fell short of the EUR5.29 billion consensus forecast.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Asian Pacific Markets:</span></div><br />
<span style="font-size: x-large;">CHINA:</span><br />
The main stock index in Shanghai, the Hang Seng Index closed up to 24,700.30 +199.69 (0.82%)..<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">G20, China growth, euro zone debt in focus</span><br />
Leaders of the Group of 20 developed and developing nations were meeting in South Korea to try to sort of disagreements over policy that have seen both the United State and China accused on artificially weakening their currencies for trade advantage.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">China's Inflation Jump<span style="font-size: small;"> </span></span><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-size: small;">Paves Way for More Tightening</span></span></b></i><br />
<br />
China's headline consumer price inflation rose to 4.4 percent in the year to October from 3.6 percent in September, the National Bureau of Statistics (NBS) said on Thursday.<br />
<br />
Chinese inflation sped to a 25-month high in October and bank lending blew past expectations, highlighting the challenge faced by Beijing as it battles to keep a lid on price pressures.<br />
<br />
Markets have already moved to factor in tighter policy with five-year Chinese government bond yields rising sharply in expectations of a rate rise before the end of 2010.<br />
<br />
Producer prices also jumped, climbing at an annual pace of 5 percent, up from 4.3 percent a month earlier.<br />
<br />
Industrial output increased 13.1 percent year on year in October, while urban fixed-asset investment rose 24.4 percent. Both were down a touch from September, but at levels that would be consistent with overall annual growth of about 9 percent in the fourth quarter.<br />
<br />
The rise in inflation was dominated by a run-up in food prices, with core inflationary pressure more muted. But that will give little relief to policymakers looking at surprisingly strong monetary and credit growth.<br />
<br />
Chinese official data showed the oil volumes processed by Chinese refineries hit a record 37 metric tons, or 8.75 million barrels a day, in October. <br />
<br />
Chinese banks extended 588 billion yuan ($88.6 billion) of new local-currency loans in October, topping forecasts for 450 billion yuan. And the broad M2 measure of money growth climbed to 19.3 percent year on year, the highest in five months.<br />
<br />
China was driving some commodities higher after reports that China's industrial production grew 13.1 percent in October from a year earlier.<br />
<br />
The central bank raised interest rates last month for the first time in nearly three years and increases in bank reserve requirements this week mean big banks have to set aside a record level of funds.<br />
<br />
The yield on the benchmark five-year government bond rose 26 basis points in the first half of the trading day, reflecting a view that it is just a matter of time before the next rate rise.<br />
<br />
Chinese bank shares rose on hopes higher interest rates would improve their net interest margins but most international markets showed little reaction and were more focused on the G20 meeting.<br />
<br />
Jiang Jianqing, chairman of Industrial and Commercial Bank of China and the only banker on the monetary policy committee of the central bank, told Reuters that he expected further tightening.<br />
<br />
With benchmark one-year lending rates at 2.5 percent, the sharp rise in inflation puts real rates deeper into negative territory, an inducement to savers to move their money from bank accounts to the stock and property markets.<br />
<br />
<i><span style="font-size: large;">Commodities Surged</span></i><br />
Crude oil surged, copper CMCU3 hit a record high and gold XAU maintained its recent allure on expectations inflation fears would drive investors to hard assets to protect wealth. <br />
<br />
The yuan hit its highest level since a revaluation in 2005. Its appreciation has quickened this week, which some dealers speculated was a move by China to deflect U.S. complaints that Beijing holds the currency down in order to help exporters, an issue being aired at a G20 meeting in Seoul.<br />
<br />
<br />
<span style="font-size: x-large;">JAPAN:</span><br />
<br />
Japan stocks rally and hit highest level since June. Japan's Nikkei N225 closed at a 4-1/2 month high. Nikkei 225 9,861.46 +30.94 (0.31%) <br />
<br />
Japan's Nikkei stock index rose to its highest since June on Thursday, adding to returns that have outstripped U.S. and European markets in November, while a blast of Chinese economic data sent copper prices to a record high. <br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(THURSDAY, NOV 11, 2010 4:00 PM EST)</b></i><br />
<br />
EUR/USD 1.3656 -0.0117 (-0.85%)<br />
USD/JPY 82.4300 +0.2100 (0.26%)<br />
GBP/USD 1.6110 -0.0004 (-0.02%)<br />
CAD/USD 0.9960 -0.0027 (-0.27%)<br />
USD/HKD 7.7505 -0.0009 (-0.01%)<br />
USD/CNY 6.6240 -0.0095 (-0.14%)<br />
AUD/USD 0.9979 -0.0042 (-0.42%)<br />
<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(THURSDAY, NOV 11, 2010 1:15 PM EST)</b></i><br />
<br />
Shanghai 3,147.74 +32.39 (1.04%)<br />
Nikkei 225 9,861.46 +30.94 (0.31%)<br />
Hang Seng Index 24,700.30 +199.69 (0.82%)<br />
TSEC 8,436.95 -13.68 (-0.16%)<br />
FTSE 100 5,815.23 -1.71 (-0.03%)<br />
DJ EURO STOXX 50 2,831.22 -14.71 (-0.52%)<br />
CAC 40 3,867.35 -21.10 (-0.54%)<br />
S&P TSX 12,904.08 -38.56 (-0.30%)<br />
S&P/ASX 200 4,728.60 +28.80 (0.61%)<br />
BSE Sensex 20,589.09 -286.62 (-1.37%)<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">THURSDAY'S U.S. ECONOMIC CALENDAR:</span><br />
<br />
10:00 a.m.<br />
Oct 30 DJ-BTMU Business Barometer (previous 0%), (52 Wk) (previous +4.3%)<br />
<br />
6:45 p.m.<br />
Atlanta Fed Pres Lockhart speaks in Atlanta.<br />
<br />
Bonds Notice:<br />
Veterans Day holiday. All U.S. Government offices will be closed. Treasurys bonds will resume being sold on Friday.<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, WED., NOV. 10, 2010:</span><br />
<br />
<b>Stocks:</b><br />
U.S. stocks closed higher on a volatile session as global concerns continued to weigh ahead of a meeting of world leaders. Energy stocks helped to lead the recovery as oil jumped to a fresh two-year high. <br />
<br />
<b>Treasurys:</b><br />
The benchmark 10-year Treasury note rose, recovering from earlier losses, as investors were heartened by the U.S. Federal Reserve's announcement that it will buy $105 billion in government securities over the next month. The 30-year bond also pared declines. The bond had weakened earlier due to a lukewarm sale of $16 billion in 30-years, the last leg of this week's $72 billion in new government-debt supply. <br />
<br />
<b>Forex:</b><br />
The euro recouped its losses against the dollar in a seesaw late-afternoon session. Details of the Federal Reserve's bond-buying program reminded investors of quantitative easing--and its corrosive effect on the greenback. "There are these two huge forces in the market right now, and one of them is quantitative easing," said Steven Englander, head of G10 strategy at Citigroup in New York. "The other is the euro zone's sovereign debt crisis. It's random as to which dominates the market at one time." <br />
<br />
<br />
© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com1tag:blogger.com,1999:blog-11562244.post-15025031782268742412010-11-10T06:14:00.000-08:002010-11-21T16:53:51.865-08:00Stock Market Update - Wednesday, November 10, 2010 Cautious Choppy Trend<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="separator" style="clear: both; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>USA EQUITY INDEXES: (NOV. 10, 4:15 PM EST)</b></i><br />
<b></b><br />
Dow Jones 11,357.04 <span style="color: #38761d;">+10.29 (+0.09%)</span><br />
S&P 500 1,218.71 <span style="color: #38761d;">+5.31 (+0.44%)</span><br />
Nasdaq 2,578.78 <span style="color: #38761d;">+15.80 (+0.62%)</span><br />
<br />
<br />
<br />
<b>Dow Jones 12:NOON Averages: DJIA 11,332.03 DN 14.72</b><br />
30 INDUS 11,332.03 DN 14.72 OR 0.13%<br />
20 TRANSP 4,841.92 UP 5.14 OR 0.11%<br />
15 UTILS 403.50 DN 2.97 OR 0.73%<br />
65 STOCKS 3,921.29 DN 6.56 OR 0.17%<br />
<br />
<i><b>US COMMODITY PRICES: (NOV. 10, 4:15 PM EST)</b></i><br />
Crude Oil 88.07 <span style="color: #38761d;">+ 0.30%</span><br />
Natural Gas 4.05 <span style="color: #38761d;">+ 0.22%</span><br />
Gasoline 2.24 - unchanged<br />
Heating Oil 2.45 - unchanged <br />
Gold 1403.17 <span style="color: #38761d;">+ 0.69%</span><br />
Silver 27.15 <span style="color: #38761d;">+ 0.78%</span><br />
Copper 3.98 <span style="color: red;"> - 1.44%</span><br />
<br />
<i><b>US DOLLAR FUTURES INDEX DXY: NOV. 10, 4:15 PM EST:<span style="color: #38761d;"> 77.66 Up 0.21 (0.28%)</span></b></i></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Stocks Edge Higher</span> </div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>DOLLAR LOST SOME GAINS<br />
</b></i><br />
As the dollar retreated, US Indexes climbed into positive territory for the first time this week. As of 2:00 p.m. EST all three indexes were positive.<br />
<br />
The Dow Jones Industrial Average was recently down 6 points to 11353 in late trading, after spending the morning in negative territory. The Standard & Poor's 500-stock index added 3 points to 1217 while the Nasdaq Composite gained 12 points to 2575. <br />
<br />
Energy stocks helped to lead the recovery as oil jumped to nearly $87.81 a barrel, a fresh two-year high. Chevron rose steadily throughout the day to add 1.7% on the day, making it one of the best-performing Dow components. Exxon Mobil gained 0.6%, as crude-oil prices rose to a fresh two-year high after government data showed a continuing decline in oil and fuel stockpiles. <br />
<br />
Financial stocks were also strong, with Citigroup gaining 3.1%, Bank of America adding 1.8% and J.P. Morgan rising 1.4%. <br />
<br />
Leading the Dow's decliners Wednesday was Boeing, which tumbled 3% after a Boeing 787 Dreamliner made an emergency landing in south Texas after the crew reported smoke in the cabin. The emergency is the latest setback for the Dreamliner, which is running nearly three years behind its original schedule. <br />
<br />
Amid the mixed trading, Jay Wong, equity portfolio manager for Payden & Rygel, said he was impressed that the market was able to hold its ground after the Federal Reserve's decision last week to support the economy. <br />
<br />
The market moves came after the number of U.S. workers filing new claims for jobless benefits last week fell by a greater-than-expected 24,000 to 435,000, the lowest level in four months. The four-week moving average, which aims to smooth volatility in the data, fell to its lowest point since Sept. 13, 2008--the weekend of the collapse of Lehman Brothers Holdings. <br />
<br />
The jobless data, together with a sharp contraction in the U.S. trade deficit, painted a slightly better economic picture for the U.S., one week after the Fed said it would step in to help the economy, and one day after the biggest drop on the blue-chip Dow index in three weeks. <br />
<br />
In morning trades, the Dow Jones Industrial Average was off 58 points, or 0.5%, to 11288 in recent trading, while the Standard & Poor's 500-stock index fell 5 points to 1208 and the Nasdaq Composite slipped 12 points to 2550.<br />
<br />
The U.S. Dollar Index, which tracks the performance of the greenback against a basket of other major currencies, gained 0.2%. The yield on the benchmark 10-year note moved higher to 2.68%. <br />
<br />
The moves came after the number of U.S. workers filing new claims for jobless benefits last week fell by a greater-than-expected 24,000 to 435,000, the lowest number in four months. The four-week moving average, which aims to smooth volatility in the data, fell to its lowest point since Sept. 13, 2008 <br />
<br />
Concerns over the effects of the U.S. trade deficit and the Federal Reserve's asset purchases as well as European sovereign debt kept the lid on stock index futures on Wednesday morning, while a stronger dollar and weaker commodity prices weighed on global equities. Gold and silver exchange-traded funds gained in pre-market trades.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US JOBLESS CLAIMS DROP </span><br />
<i><b>Initial jobless claims tumble to 435,000, 4-month low</b></i> </div><div style="font-family: Arial,Helvetica,sans-serif;"><div style="color: #990000;"><br />
</div><i style="color: #cc0000;"><u>435,000 more American's lost their jobs last week.</u></i> The number of U.S. workers filing new claims for jobless benefits fell more than expected last week, the latest positive sign for a still weak American economy.<br />
<br />
Jobless claims were reported today due to a Veteran's Day holiday Thursday. The federal government offices will be closed Thursday. The jobless claims report moved up one day.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Trade Deficit Declined in September</span></div><div style="font-family: Arial,Helvetica,sans-serif;">The U.S. trade deficit for September,released Wednesday, contracted a little from a month earlier.<br />
<br />
The total U.S. deficit in international trade of goods and services shrank by 5.3% to $44.00 billion from an upwardly revised $46.48 billion the month before, the Commerce Department said Wednesday. The August trade gap was originally reported as $46.35 billion. <br />
<br />
The deficit widened to $46.3 billion in August as import demand remained strong despite a weaker dollar.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">IMPORTS DECLINED</span></div>Imports fell 1.0% to $198.10 billion from $200.07 billion in August. Falling oil and auto imports were big contributors to the improvement in the deficit, reflecting continued sluggish demand in the economy.<br />
<br />
<span style="font-size: large;">EQUITIES EARNINGS: </span> </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Cisco, which reports Wednesday, is expected to post a sharp gain in sales as analysts note signs that the tech giant managed to regain its footing in an unpredictable market after a shaky start to the quarter.<br />
<br />
Leading the declines were utilities and telecommunications companies, with AT&T and Verizon dropping 1.3% and 1.4% respectively. Cisco Systems was also off, falling 1% ahead of its earnings report, due after the market close. <br />
<br />
Boeing, led the fall among Dow components, tumbling 3.4% after a Boeing 787 Dreamliner made an emergency landing in south Texas after the crew reported smoke in the cabin. <br />
<br />
Macy's started off a wave of earnings reports from retailers, falling 0.6% despite a bounce back to profitability, while Polo Ralph Lauren gained 6.3% after reporting a 16% increase in quarterly earnings, topping analysts' expectations amid rising revenues. General Motors said it earned $2 billion in the third quarter as revenue rose 20%. <br />
<br />
Campbell Soup fell 3.7% after slashing its full-year earnings forecast as its soup sales stayed weak in the U.S. despite efforts to draw consumers with more promotions on store shelves.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CRUDE OIL:</span></div><i><b>U.S. Crude Oil: $88.07</b></i><br />
<b>OIL FUTURES: Nymex Crude Settles $1.09 Higher At $87.81/Bbl</b></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">OIL PRICE JUMPS </span><br />
Oil futures hit a new two-year intraday high Wednesday after the U.S. Department of Energy reported oil and fuel stockpiles declined last week, continuing a nearly two-month slide from 27-year highs. <br />
<br />
Light, sweet crude oil for December delivery was recently up $1.14, or 1.3%, at $87.86 a barrel on the New York Mercantile Exchange. The contract hit an intraday high of $88.02, the highest level since October 2008.<br />
<br />
Front-month December reformulated gasoline blend-stock, or RBOB, recently traded up 1.99 cents, or 0.9%, at $2.2049 a gallon. December heating oil gained 1.86 cents, or 0.8%, at $2.4253 a gallon.<br />
<br />
Brent crude oil on the ICE futures exchange added 83 cents, or 0.9%, to $89.16 a barrel. <br />
<br />
<b>DOE Reports US Oil Stockpiles declined little at 3.3 million barrels:</b><br />
US Refineries Ran At 82.4%; Seen 82.10% <br />
US Gasoline Stocks -1.917 Mln Bbl At 210.336 Mln Bbl<br />
US Distillate Stocks -4.972 Mln Bbl At 159.902 Mln Bbl<br />
<br />
U.S. inventories of crude oil, gasoline and distillates all showed minor declines last week, according to data released Wednesday by the U.S. Department of Energy. <br />
<br />
Crude oil stockpiles declined by 3.3 million barrels to 364.9 million barrels for the week ended Nov. 5. Gasoline stockpiles fell by 1.9 million barrels to 210.3 million barrels. Distillate stocks, which include heating oil and diesel fuel, fell by nearly 5 million barrels to 159.9 million barrels. That compares to the 2-million-barrel decrease that analysts had anticipated. <br />
<br />
December crude oil contracts were up 0.7% at $87.28 a barrel in recent trading on the New York Mercantile Exchange. December contracts for benchmark gasoline futures rose 1% to $2.2061 a gallon and heating oil was up 0.6% at 42.4219 a gallon. <br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NATURAL GAS:</span></div><b>Natural Gas:$4.05</b><i><b> </b></i><br />
<i><b>US GAS: US Inventories Hit Record High Of 3.840T Cubic Feet </b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">US GAS: Futures Close Down 16.3c At $4.047/MMBtu<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Futures Fall On New Storage Record</span><br />
<br />
Domestic storage moved past the record of 3.837 trillion cubic feet set last November to an all-time high of 3.84 tcf. <br />
<br />
Natural gas futures fell Wednesday as a new U.S. storage record was set. Natural gas for December delivery settled down 16.4 cents, or 3.9%, to $4.046 a million British thermal units on the New York Mercantile Exchange. The benchmark contract had reached an 11-week high of $4.21/MMBtu on Tuesday. <br />
<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">PRECIOUS METALS:</span></div><i><b>Gold:$ 1,403</b></i><br />
<i><b>Silver: $ 27.30</b></i><br />
<br />
The most actively traded gold contract, for December delivery, was recently down $8.50, or 0.6%, at $1,401.60 an ounce on the Comex division of the New York Mercantile Exchange.<br />
<br />
Silver for December delivery declined $1,84, or 6.3%, to $27.15 an ounce on the Comex division of the New York Mercantile Exchange. The CME Group Inc. which runs Comex, said late Tuesday it will raise margin requirements for silver futures. <br />
<br />
Silver's trading volume on Comex hit a record level Tuesday. The iShares Silver Trust (SLV), an exchange-traded fund, reported an increase in its holdings Tuesday of 113 metric tons to 10,366 metric tons. The ETF more than tripled its previous one-day volume record on Tuesday as 149.1 million shares traded.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">December palladium fell 5.7% from 9-year highs, trading $40.40 lower at $700.20 an ounce. Platinum for January delivery was off $65, or 3.6%, to $1,744.60 an ounce.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US TREASURYS/BONDS:. </span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>U.S. Bond sales will be closed Thursday due to a Government holiday. </b></i><br />
<br />
3 Month 0.11% +0.01 (10.00%)<br />
6 Month 0.15% +0.01 (7.14%)<br />
2 Year 0.46% +0.02 (4.55%)<br />
5 Year 1.27% 0.00 (0.00%)<br />
10 Year 2.69% -0.01 (-0.37%)<br />
30 Year 4.26% +0.01 (0.24%)<br />
<br />
The U.S. Treasury Wednesday, sold $16 billion of 30-year bonds on a non-competitive bidding basis to foreign and international monetary authority accounts and other non-competitive sources.<br />
<br />
The 30 year bonds drew a yield of 4.32 percent. The benchmark 10-year note yield rose eight basis points to 2.74 percent.<br />
<br />
The Federal Reserve will buy $105 billion in Treasury securities over the next month, the Federal Reserve Bank of New York said Wednesday. <br />
<br />
The New York Fed announced that over the course of the purchases 5% would come in the 1.5- to 2.5-year range, whereas 20% of purchases would fall into both the 2.5- to four-year range and the four- to 5.5-year range. <br />
<br />
The Fed would devote 23% of the purchases to the 5.5- to seven-year and seven- to 10-year range, and 2% to the 10- to 17-year part of the curve. The Fed will direct 4% of the buying to the 17- to 30-year range and 3% to the 1.5- to 30-year inflation index part of the Treasury market.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<br />
____________________________________________________________<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Mixed Canadian Market Seen </span><br />
The stock market was lower at midday Wednesday as G20 leaders convened in South Korea, putting the focus on global economic concerns and currencies.<br />
<br />
At 11:45 a.m. EST, the S&P/TSX Composite Index was down 46.04 points, or 0.36%, at 12870.59. Decliners outweighed advancers 910 to 560. Trading volume was 273.6 million shares. The S&P/TSX 60 Index was down 2.29 points, or 0.3%, to 738.03 points.<br />
<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian September Trade Deficit Widens</span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Canada's trade deficit widened to C$2.49 Billion. Their deficit grew more than expected in September to the second-highest level on record, as import prices rose amid declining exports. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">The market had expected the deficit to grow to C$1.6 billion in September. The trade deficit for all of the quarter surged to a record C$6.5 billion, nearly triple the second quarter's deficit. The volume of exports dropping 4.8% in the third quarter, the first decline in five quarters. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">The trade deficit was C$2.49 billion (US$2.47 billion), up from C$1.49 billion in August, revised from the originally estimated C$1.35 billion, Statistics Canada said Wednesday. The trade deficit in July was a record-high C$2.51 billion.</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Consumer goods exports declined 15.9% to C$1.36 billion, following a 27.3% gain in August, on fewer exports of medicinal and pharmaceutical products. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Exports of industrial goods and materials fell 2.3% to C$7.82 billion on lower volumes, with gains in nickel and alloy exports offset by declines in precious metals and copper ores. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Imports of industrial goods and materials rose 5.6% to C$7.56 billion, led by metals and metal ores, including record-high imports of precious metals, up 38.6% to C$1.0 billion. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">Machinery and equipment imports rose 3.2% to C$10.21 billion led by aircraft, engines and parts, while automotive parts imports fell 4.8% to C$5.50 billion.</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
<b>Toronto Indexes, Volume; 3 PM EST Composite Up 1.92</b><br />
<br />
S&P/TSX Composite 12918.55 up 1.92 or 0.0%<br />
S&P/TSX 60 Index 740.58 up 0.26 or 0.0%<br />
Financials 180.30 off 1.00 or 0.6%<br />
Materials 420.63 up 1.70 or 0.4%<br />
Energy 302.93 up 0.02 or 0.0%<br />
Industrials 106.89 up 0.49 or 0.5%<br />
IT 30.55 up 0.46 or 1.5%<br />
<br />
Volume Wednesday Tuesday<br />
2-3 59.8M 80.1M<br />
9:30-3 481.4M 648.7M<br />
<br />
<br />
<br />
____________________________________________________________ <br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">South America Markets: </span><br />
<br />
<span style="font-size: x-large;">MEXICO:</span><br />
<br />
Mexican stocks opened lower Wednesday as investors extended profit-taking from a record-setting rally into a second session. <br />
<br />
The IPC index of 35 most-traded issues was down 0.5% around 10:30 a.m. EST at 36,025 points. Volume was 37.8 million shares worth 1.21 billion pesos ($98 million).<br />
<br />
The peso was steady against the dollar, quoted in Mexico City at MXN12.2885 compared with MXN12.2930 at Tuesday's close, but had weakened from early trades.<br />
<br />
<br />
<span style="font-size: x-large;">CHILE:</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile Stocks Close At Record High</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>The Ipsa advanced 0.1% to finish at 5028.37</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Chile's blue-chip Ipsa index ended barely higher Wednesday, at a third consecutive all-time high, as market attention focused on Molymet's (MOLYMET.SN) sale of a nearly 10% stake.<br />
market volume rose to 303.6 billion pesos ($631.1 million) following the sale of 12.3 million new shares of Molymet and on high-volume trading in retail holding giant Cencosud (CENCOSUD.SN). Trading in both companies accounted for a combined 71% of volume. In the prior session, volume totaled CLP122.7 billion. <br />
<br />
Molymet lost 9.1% on the day to CLP10,901.00, as the stake sale diluted its shares, although its closing price was 5.3% higher than the acquisition price of CLP10,350.00 per share.<br />
<br />
Local investment bank Banco Penta has a 12-month target price of CLP12,383 on Molymet's shares. <br />
<br />
Trading in Cencosud surged ahead of a dividend payment as investors shuffled portfolios between stocks eligible for dividends, on which capital-gains taxes are due, and those that aren't. Cencosud slipped 0.3% to CLP3,617.80.<br />
<br />
Among gainers, shopping center developer Parque Arauco (PARAUCO.SN) rose 1.2% to a new 52-week high of CLP1,190.40. In the prior session, local investment bank Celfin Capital increased its 2011 year-end target price to CLP1,298 per share. Celfin Capital also upgraded Parque Arauco's recommendation from hold to buy. <br />
<br />
Fuel and forestry conglomerate Copec (COPEC.SN), the heaviest-weighted share on the Ipsa, also rose to a 52-week high. Its shares grew 1.3% to CLP9,897.10 as participants predicted the company will report strong third-quarter earnings later this month on higher international pulp prices. <br />
<br />
Telecommunications operator Entel (ENTEL.SN) again rose after posting better-than-anticipated third-quarter net profits in the prior session. Entel gained 1.3% to CLP8,230.30. <br />
<br />
With the Ipsa having gained over 40% so far this year, far surpassing analysts' expectations, traders warn that a downward correction is likely. <br />
<br />
"The Ipsa's rise at this rate isn't sustainable, we'll probably see a correction soon," a trader at a local investment bank said, adding that the index likely won't drop too much. <br />
<br />
The peso ended weaker versus the dollar as sovereign debt concerns pulled the euro lower and international copper prices fell back below the $4-per-pound mark. <br />
<br />
The peso ended at CLP481.20 to the dollar, versus Tuesday's close of CLP476.90, while trading in a range of CLP478.80 to CLP481.80.<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Asian Pacific Markets </span><br />
<br />
<span style="font-size: x-large;">JAPAN: </span><br />
The Nikkei stock index gained 1.4%. <br />
<br />
<span style="font-size: x-large;">CHINA:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">The Hong Kong's Hang Seng Index slipped 0.9%.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">LARGE SURPLUS SEEN </span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>China Trade Surplus Surges to $27 Billion</b></i><br />
China's central bank raised lenders' reserve requirements as cash from October's larger-than expected $27.1 billion trade surplus threatened to add to the risk of asset bubbles and accelerating inflation.<br />
<br />
China trade surplus was announced as G-20 leaders including Presidents Barack Obama and Hu Jintao gather to tackle global imbalances in spending and capital flows. The excess, China’s second biggest this year, compared with the $25 billion median estimate of 27 economists surveyed by Bloomberg News and September’s $16.9 billion. <br />
<br />
The trade imbalance and currency curbs that have pushed China’s foreign-exchange reserves to $2.65 trillion will be discussed by Group of 20 leaders meeting in Seoul from tomorrow.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(WEDNESDAY, NOV 10, 2010 4:15 PM EST)</b></i><br />
<br />
EUR/USD 1.3783 +0.0030 (0.22%)<br />
USD/JPY 82.2800 +0.5600 (0.69%)<br />
GBP/USD 1.6121 +0.0143 (0.90%)<br />
CAD/USD 0.9991 +0.0082 (0.83%)<br />
USD/HKD 7.7513 -0.0001 (0.00%)<br />
USD/CNY 6.6335 -0.0089 (-0.13%)<br />
AUD/USD 1.0053 +0.0040 (0.40%)<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">WORLD MARKETS SNAPSHOT:</span></div><i><b>(WEDNESDAY, NOV 10, 2010 4:15 PM EST)</b></i><br />
<br />
Shanghai 3,115.36 -19.64 (-0.63%)<br />
Nikkei 225 9,830.52 +136.03 (1.40%)<br />
Hang Seng Index 24,500.61 -209.99 (-0.85%)<br />
TSEC 8,450.63 +5.00 (0.06%)<br />
FTSE 100 5,816.94 -58.25 (-0.99%)<br />
DJ EURO STOXX 50 2,845.93 -44.71 (-1.55%)<br />
CAC 40 3,888.45 -57.26 (-1.45%)<br />
S&P TSX 12,942.64 +26.01 (0.20%)<br />
S&P/ASX 200 4,699.80 <br />
BSE Sensex 20,875.71 -56.77 (-0.27%)<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WEDNESDAY'S U.S. ECONOMIC CALENDAR:</span><br />
<br />
7:00 a.m.<br />
Nov 5 MBA Mortgage Applications Survey Market Composite Index (previous 787.3), Cur Chg (previous -5%), Purchase Index (S.A.) (previous 178.9), Cur Chg (previous +1.4%), Refinance Index (previous 4328.8), Cur Chg (previous -6.4%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
8:30 a.m.<br />
Nov 6 Unemployment Insurance Claims Report - Initial Claims Weekly Jobless Claims (expected 448K), Weekly Jobless Claims Net Change (expected -9K), (prior week) (previous 4340000), Net Chg (prior week) (previous -42K)<br />
<br />
8:30 a.m.<br />
Oct Import & Export Price Indexes Import Prices (expected +1.3%), Non-Petroleum Prices (previous +0.3%), Petroleum Prices (previous -3.1%)<br />
<br />
8:30 a.m.<br />
Sept. International Trade in Goods & Services Deficit (expected -45B), Exports (previous 153.87B), Exports Percent Change (previous +0.2%), Imports (previous 200.22B), Imports Percent Change (previous +2.1%)<br />
<br />
10:30 a.m.<br />
Nov 6 EIA Petroleum Status Report Crude Oil Stocks (previous 368.16M), Crude Oil Stocks (Net Change) (expected +800K), Gasoline Stocks (previous 212.25M), (Net Change) (expected -1M), Distillate Stocks (previous 164.87M), (Net Change) (expected -2.1M), Refinery Usage (expected 82.1%)<br />
<br />
12:00 p.m.<br />
Nov 5 EIA Natural Gas Storage Report Total Working Gas in Storage (previous 3821B), (Net Change) (previous +67B)<br />
<br />
2:00 p.m.<br />
Oct Treasury Statement of Receipts & Outlays of the U.S. Govt (expected -140B)<br />
<br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, TUESDAY, NOV. 9, 2010:</span><br />
<br />
<b>Stocks:</b><br />
The U.S. Dollar rebounded causing U.S. stocks to decline Tuesday. Many commodity prices continued rising to record matching highs. Investors sold out of equities as the grew concerned about the inflationary impacts of the Fed's plan and entered the food and grain futures markets in mass after the USDA announced <br />
sharp declines in sugar, wheat, soy commodities. Soybean futures hit a 26-month high of $13.4475 a bushel. Copper traders sold futures up over the $4 per pound mark for the first time since July 2008.<br />
<br />
<b>Treasurys:</b><br />
Treasury prices fell hard despite a well-bid $24 billion 10-year Treasury auction as investors remained especially guarded ahead of the government's sale of 30-year Treasurys on Wednesday. The 30-year Treasury has plummeted in price after the Fed last week said it would dedicate just 4% of the $600 billion it will buy in Treasurys to issues that are maturing in the next 17 to 30 years.<br />
<br />
<b>Forex:</b><br />
The dollar staged an afternoon surge as investors pulled back from risk and embraced the safe-harbor greenback. "This is part of a broad dollar rally, with equities selling off, some nervousness in Treasurys going on, and an overall unsettled feeling ahead of G-20 meetings," said Andrew Busch, global foreign exchange strategist at BMO Capital Markets in Chicago. <br />
<br />
<br />
<br />
<br />
<br />
<br />
© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-58214265050581983132010-11-09T06:00:00.000-08:002010-11-21T16:54:36.928-08:00Stock Market Update - Tuesday, Nov. 9, 2010 - Mixed Outlook - Minor Gain Possible<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Tuesday, Nov. 9, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="separator" style="clear: both; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>USA EQUITY INDEXES: (NOV. 9, 4:00 PM EST)</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">Dow Jones 11,346.75 -60.09 (-0.53%)<br />
S&P 500 1,213.40 -9.85 (-0.81%)<br />
Nasdaq 2,562.98 -17.07 (-0.66%)<br />
<br />
<br />
<b>Dow Jones 12:30 PM Averages: DJIA 11,374.07 DN 32.77</b><br />
30 INDUS 11,374.07 DN 32.77 OR 0.29%<br />
20 TRANSP 4,883.27 DN 41.19 OR 0.84%<br />
15 UTILS 406.68 DN 0.08 OR 0.02%<br />
65 STOCKS 3,944.55 DN 16.13 OR 0.41% <br />
<br />
<i><b>US COMMODITY PRICES: (NOV. 9, 4:00 PM EST)</b></i><br />
Crude Oil 86.05 - 0.77%<br />
Natural Gas 4.20 - 0.19%<br />
Gasoline 2.17 - 0.61%<br />
Heating Oil 2.39 - 0.59%<br />
Gold 1391.62 - 1.30%<br />
Silver 26.80 - 3.39%<br />
Copper 3.95 - unchanged<br />
<br />
<i><b>US DOLLAR FUTURES INDEX DXY: NOV. 9, 4:00PM EST: 77.72 <span style="color: #38761d;"> Up 0.69 (0.90%)</span></b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Stocks Close Lower Commodities Rise</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Dollar Up</span> </div><div style="font-family: Arial,Helvetica,sans-serif;">Wall Street pulled back Monday as the dollar rose and traders retreated. At the close in the late afternoon, U.S. stocks and commodities were mixed, mostly lower after moving up from the market open.<br />
<br />
US Indexes turned red as investors remained hesitant to add to the market's climb against the dollar's gains. The materials and energy sector continue to make gains.The U.S. Dollar Index, tracking the U.S. currency against a basket of six others, rose 0.4%. In early morning trading the euro edged up to $1.3844. <br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><i><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Market Testing Key Levels</span></i><br />
The U.S. Dollar is near its lower support area and the equities are at the near-term highs. The major indexes are sitting near their levels when Lehman Brothers failed in September 2008. The next major resistance level for the S&P 500 is around 1300. The index is currently trading above 1220.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">COMMODITY PRICES SOAR</span><br />
A broad array of commodities, including sugar, corn, wheat, soy, silver and gold, are hitting multi-year highs as producers of metals and agricultural goods are finding it increasingly more difficult to meet robust demand. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CRUDE OIL:</span></div><i><b>Crude Oil: $87.09 per barrel</b></i><br />
<i><b>OIL FUTURES: Nymex Crude Settles 34c Lower At 86.74/Bbl </b></i><br />
<br />
Light, sweet crude for December delivery rose 23 cents, or 0.3%, at $87.27 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange gained rose 36 cents, or 0.4%, to $88.82 a barrel.<br />
<br />
Front-month December reformulated gasoline blend-stock, or RBOB, recently traded up 1.37 cents, or 0.6%, higher at $2.1922 a gallon. December heating oil gained 2.03 cents, or 0.9%, at $2.4380 a gallon.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">EIA Raises Oil Price Outlook</span></div>Oil prices are expected to hit $87 a barrel by the end of 2011 as global economic conditions improve, according to the U.S. Energy Information Administration.<br />
<br />
The EIA also raised its projections for the fourth quarter of 2010, and now sees crude prices at $82.63 a barrel by the end of this year.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Light, sweet crude for December delivery recently traded up 14 cents, or 0.2%, to $87.20 a barrel on the New York Mercantile Exchange. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: large;">OPEC </span><br />
Production quotas are unlikely to be changed when the Organization of Petroleum Exporting Countries meets next month, Qatar Oil Minister Abdullah bin Hamad Al Attiyah said Tuesday. <br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NATURAL GAS:</span></div><i><b>Natural Gas $4.12</b></i><br />
<i><b>US GAS: Futures Settle 3% Higher At $4.210/MMBtu</b></i><br />
<br />
Natural gas futures were lifted Tuesday. Natural gas for December delivery rose 0.5 cent, to $4.093 a million British thermal units on the New York Mercantile Exchange. Futures earlier Tuesday rose as high as $4.210/MMBtu.<br />
<br />
<i>The Energy Information Administration's weekly gas storage report is scheduled for release at Noon EST Wednesday.</i><br />
<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">PRECIOUS METALS:</span></div><i><b>US Gold: $1,422</b></i><br />
<i><b>US Silver: $ 28.94</b></i><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Gold and Silver Breaking Record Highs </span><br />
The most actively traded gold contract, for December delivery, rose $6.90, or 0.5%, to settle at a record $1,410.10 a troy ounce on the Comex division of the New York Mercantile Exchange. The contract hit an intraday record of $1,424.30.<br />
<br />
<b>Settlements (Ranges include Floor and Electronic Trading):</b><br />
<br />
London PM Gold Fix: $1,421.00; previous PM $1,388.50<br />
Dec gold $1,410.10, up $6.90; Range $1,398.20-$1,424.30<br />
Dec silver $28.906, up $1.474; Range $27.530-$29.340<br />
Jan platinum $1,809.60, up $38.50; Range $1,765.70-$1,811.80<br />
Dec palladium $742.65, up $31.75; Range $704.15-$743.50<br />
<br />
The Engelhard Corp's base price for industrial gold bullion was $1424.70 per troy ounce, up $33.19 from Monday. It's selling price for gold in fabricated form was $1530.87, up $35.00.<br />
<br />
The Handy & Harman's base price for gold was $1421.00 per troy ounce, up $32.50. The fabricated form price was $1534.68, up $35.10.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. TREASURYS/BONDS:</span><br />
<i><b>Treasurys fell, pushing the yield on the 10-year note up to 2.61%.</b></i><br />
<table class="quotes"><tbody>
<tr><td class="symbol">World Government Bond Yields (10yr): US (2.590%); UK (3.033%); JPN (0.970%); GER (2.412%): GRC (11.217%); POR (6.577%); SPN (4.379%); ITY (4.022%) <br />
<br />
3 Month 0.10% 0.00 (0.00%)<br />
6 Month 0.15% 0.00 (0.00%)<br />
2 Year 0.43% +0.04 (10.26%)<br />
5 Year 1.23% +0.11 (9.82%)<br />
10 Year 2.64% +0.10 (3.94%)<br />
30 Year 4.24% +0.14 (3.41%)</td><td class="price"><br />
</td><td class="change chb"><br />
</td></tr>
<tr> <td class="symbol"></td><td class="price"><br />
</td><td class="change chb"></td></tr>
<tr></tr>
<tr><td class="symbol"></td><td class="price"></td><td class="change chg"></td></tr>
<tr><td class="symbol"></td><td class="price"></td><td class="change chg"></td></tr>
<tr><td class="symbol"></td><td class="price"></td><td class="change chg"></td></tr>
<tr><td class="symbol"></td><td class="price"></td><td class="change chg"></td></tr>
</tbody></table></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">FDIC APPROVES INSURANCE COST PLAN FOR SMALL BANKS</span><br />
U.S. banking FDIC regulators approve an initial plan to change the way they calculate how much community banks pay for deposit insurance..<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">IBD/TIPP Economic Optimism Index Report </span><br />
<br />
U.S. consumers are more upbeat about the economy, but less so about their own finances, in November than they were a month earlier, according to a report released Tuesday. <br />
<br />
The IBD/TIPP Economic Optimism Index, compiled by Investor's Business Daily and TIPP, a unit of TechnoMetrica Market Intelligence, rose 0.6% to 46.7 in November from 46.4 in October. The index's all-time average is 50.7.<br />
<br />
The Six-Month Economic Outlook, a measure of how consumers feel about the economy over the next six months, increased 0.4 point to 50. The Personal Financial Outlook, a gauge of how Americans feel about their personal finances in the next six months, dropped 1.2 points to 51.9. <br />
<br />
The index of confidence in federal economic policies, a view of how government policies are working, improved 1.8 points to 38.3. Only three of the 21 demographic groups IBD/TIPP tracks were above 50 on the main index. The index is based on a survey of 900-plus U.S. adults chosen at random. IBD/TIPP conducted the survey of 912 people from Nov. 1-6.<br />
<br />
Soybean futures for January delivery at the Chicago Board of Trade on Tuesday shot to a fresh contract high of $13.43 3/4, and a fresh two-year high basis nearby futures, in the wake of a surprisingly bullish USDA report issued Tuesday morning. The rare utterance, "beans in the teens" has provided the soybean bulls with a treat. <br />
<br />
January soybean futures prices are in a 17-week-old uptrend on the daily bar chart.The all-time record high for nearby soybean futures was reached at $16.60 a bushel in July of 2008. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US September Wholesale Inventories Rise</span></div>Inventories at U.S. wholesalers grew in September more than twice as much as expected. Wholesale inventories climbed by 1.5% to a seasonally adjusted $416.95 billion, the Commerce Department said Tuesday. <br />
<br />
Sales of distributors climbed 0.4% to $353.88 billion. Wholesalers' sales in August rose an unrevised 0.5%. Wholesalers account for about 30% of all business inventories in the U.S., with manufacturers and retailers making up the rest. During the third quarter, inventory accumulation was responsible for nearly 75% of the economy's modest 2.0% growth. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The Commerce report showed the amount of goods on hand relative to sales is low, which indicates factories will keep churning out goods.<br />
<br />
Tuesday's data on wholesalers showed inventories of durables, which are goods such as cars and televisions meant to last three or more years, rose 0.7% in September. Sales of durables climbed 0.2%. Non-durable goods inventories soared 2.8%, with a big jump in farm products. Non-durable sales increased 0.6%. <br />
<br />
<i>The Commerce Department data are available online at: </i><br />
<a href="http://www2.census.gov/wholesale/pdf/mwts/currentwhl.pdf">http://www2.census.gov/wholesale/pdf/mwts/currentwhl.pdf</a><br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. Grain Reserves Sept. 2010</span><br />
USDA and PSD Data Released Tuesday, November 09, 2010<br />
<br />
Source: Foreign Agricultural Service, Official USDA Estimates<br />
Production, Supply and Distribution Online (PSD)<br />
The Foreign Agricultural Service's Production, Supply and Distribution (PSD) online database.<br />
<a href="http://www.fas.usda.gov/psdonline/psdHome.aspx">http://www.fas.usda.gov/psdonline/psdHome.aspx</a><br />
<br />
<i><span style="font-size: large;">GRAIN RESERVES ARTICLE:</span></i><br />
<a href="http://www.standeyo.com/NEWS/10_Food_Water/101108.grain.reserves.html">http://www.standeyo.com/NEWS/10_Food_Water/101108.grain.reserves.html</a><br />
<br />
Just since September supplies have dwindled both here in the U.S. and through the world's developed nations. As of October 8, America's 69-day grain stockpile has shrank to an unsettling 53 day supply.<br />
<br />
<span style="font-size: large;"><b>U.S. Grain Reserves Chart: </b></span><br />
<br />
<a href="http://www.standeyo.com/NEWS/10_Food_Water/10_Food_Water_pics/101107.grain.reserve.chart.gif">http://www.standeyo.com/NEWS/10_Food_Water/10_Food_Water_pics/101107.grain.reserve.chart.gif</a><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. GRAINS AT RECORD 2008 HIGHS</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"> ON USDA FORECAST </span><br />
Grains futures prices touched their highest in more than two years Tuesday as the Agriculture Department slashed its expectations for the soybean crop, surprising the market. <br />
<br />
According to Kansas State University's Grain Market Outlook from two weeks ago, contracts for roughly 800 million bushels corn and wheat have yet to be filled. Soybeans, which aren't included in the "blue" chart have outstanding commitments of 796 million bushels.<br />
<br />
In New York, March raw sugar futures climbed to a 30-year high of 33.32 cents a pound. Raw sugar prices have not been this high since the early 1980s when prices reached 45 cents/lb. <br />
<br />
Sugar prices have more than doubled since May as weather concerns in producers, including the world's largest producer Brazil, have sparked fears the hoped-for surplus in world markets this season won't appear. <br />
<br />
Coffee prices also rose Tuesday, with December arabica futures on New York's ICE exchange rising to a high of $2.1525/lb while robusta futures in London rose to a fresh 25-month high of $2,098/ton on the January contract.<br />
<br />
From a longer-term technical perspective, it would take a drop in nearby futures prices below longer-term technical support at the $10.75 area to produce significant longer-term chart damage to suggest that a major market top is in place for soybean futures. <br />
<br />
Near-term chart resistance for January soybean futures comes in at Tuesday's contract high of $13.43 3/4, at $13.50, $13.75 and then at $14.00. Near-term technical support is located at $13.00, at $12.90, at Tuesday's low of $12.69 1/2 and then at $12.50. <br />
<br />
The department cut its soybean production expectations to 3.375 billion bushels, down from 3.408 billion bushels forecast in the previous month. Analysts had expected an increase, spurring a jump in prices later subdued.<br />
<br />
The agency also downgraded further its estimates for corn, which comes on top of record forecast cuts in October. Analysts had expected the decrease, however.<br />
<br />
As revised, corn’s 2010/2011 production is expected by the Agriculture Department to total to 12.54 billion bushels, down from 12.664 billion bushels seen in the prior month.<br />
<br />
Government forecasters also lifted production expectations for soybeans in Brazil and Argentina, among the world’s top producers, but analysts were concerned about potential dry-weather conditions in these two countries. <br />
<br />
Wheat for December delivery reverted lower, trading at $7.32 per bushel. Wheat had traded as high as $7.96 per bushel, its best since mid-2008.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TUESDAY CONFERENCES:</span><br />
<i><b>Among the significant financial conferences today are;</b></i><br />
<br />
Credit Suisse Group Health Care Conference from Tuesday through Friday in Phoenix. <br />
<br />
JP Morgan Ultimate Services Investor Conference on Tuesday in New York. <br />
<br />
Piper Jaffray Technology, Media & Telecommunications Conference on Tuesday and Wednesday in New York. <br />
<br />
Robert W. Baird Industrial Conference on Tuesday and Wednesday in Chicago.<br />
<br />
Wells Fargo Securities Technology, Media & Telecom Conference on Tuesday and Wednesday in New York. <br />
<br />
____________________________________________________________<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Toronto Stocks Down Mixed</span><br />
In mixed trading, material providers continue to drive the Toronto exchange with oil, copper, silver and gold breaking record highs. At 11:45 a.m. EST, the S&P/TSX Composite Index was up 14.35 points, or 0.11%, at 13066.83. Advancers outpaced decliners 828 to 662. Trading volume was 376.3 million shares. The S&P/TSX 60 Index was flat at 747.30 points.<br />
<br />
The Canadian dollar is ending moderately lower Tuesday after a U.S. dollar rebound midway through the session undercut earlier gains. <br />
<br />
The U.S. dollar was at C$1.0060 at 3:25 p.m. EST (2025 GMT), from C$0.9999 at 8:00 a.m. EST and C$1.0022 late Monday.<br />
<br />
Exchange rates at 3:31 p.m. EST, 8:00 a.m. EST, and late Monday.<br />
<br />
USD/CAD 1.0060 0.9999 1.0022<br />
EUR/CAD 1.3867 1.3950 1.3950<br />
CAD/JPY 81.36 80.62 80.98 <br />
<br />
<br />
<br />
<br />
<br />
<b>Toronto Indexes, Volume; 3 PM EST Composite Down 89.46</b><br />
<br />
S&P/TSX Composite 12963.02 off 89.46 or 0.7%<br />
S&P/TSX 60 Index 742.38 off 4.58 or 0.6%<br />
Financials 181.43 off 1.77 or 1.0%<br />
Materials 423.91 off 5.18 or 1.2%<br />
Energy 304.02 off 0.17 or 0.1%<br />
Industrials 106.72 off 0.37 or 0.3%<br />
IT 30.11 up 0.53 or 1.8%<br />
<br />
Volume Tuesday Monday<br />
2-3 80.1M 73.0M<br />
9:30-3 648.7M 529.6M</div><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">South American Markets:</span></div><br />
<span style="font-size: x-large;">BRAZIL:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazilian Stocks End Lower </span></div><div style="font-family: Arial,Helvetica,sans-serif;">Brazilian stocks closed lower Tuesday.Blue chips were mixed, with commodity producers falling as oil prices ended declined at the end of the day. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The benchmark Ibovespa stock index closed at 71679 points, down 1.4% from Monday's close of 72657.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Leading gainers was ALL America Latina Logistica (ALLL3.BR), Brazil's biggest railroad company. ALL reported a 20% jump in third-quarter profit, and rose Tuesday 3.2% to BRL15.95. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Government-controlled energy giant Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, fell 1.53% to BRL 27.12. <br />
<br />
Vale SA (VALE5.BR, VALE), the world's biggest iron-ore producer, dropped 0.14% to BRL49.69. <br />
<br />
MMX Mineracao e Metalicos SA (MMXM3.BR), the iron-ore producer controlled by Brazilian billionaire Eike Batista, rose 1.11% to BRL13.70. <br />
<br />
Usinas Siderurgicas de Minas Gerais (USIM5.BR, USNZY), Brazil's biggest maker of flat steel for the automotive industry, declined 2.35% to BRL22.40. <br />
<br />
Telephone giant Tele Norte Leste SA (TNE, TNLP4.BR), or Oi, gained 0.4% to BRL25.75. <br />
<br />
Minas Gerais utility Cemig (CIG, CMIG4.BR) added 0.24% to BRL29.60. <br />
<br />
Aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), or Embraer, fell 2.6% to BRL12.37.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Ending lower were Real-estate developers and banks led declines on the index, with Cyrela Brazil Realty SA Empreendimentos e Participacoes (CYRE3.BR) and Gafisa SA (GFSA3.BR), the country's biggest home-building companies, slipping more than 5% each. Gafisa slid 6.04% to 13.53 Brazilian reais ($7.98), while Cyrela fell 5.39% to BRL21.05. Banco Santander do Brasil SA (SANB11.BR), the Brazilian unit of Spain's biggest bank, fell 5.59% to BRL24.50. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazilian Inflation Accelerates</span></div><br />
A surge in food costs pushed Brazilian consumer prices higher in October, setting the stage for a new round of monetary tightening, perhaps as soon as the first quarter of 2011. Food and commodities prices jumped 14% between July and October .<br />
<br />
The official IPCA consumer price index gained 0.75% in October compared with 0.45% in September, the Brazilian Census Bureau, or IBGE, said Tuesday. The index was pushed up by seasonal factors affecting food prices.<br />
<br />
In the 12 months through October, the IPCA rose at a 5.20% pace versus 4.70% in the 12 months through September. The September figure was already above the government's official year-end 2010 target of 4.50%. A similar target has been adopted for end-2011.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Consumer prices will likely continue to rise through the end of the year, said Santander Economia's Tatiana Pinheiro. The fourth quarter typically sees seasonal pressures, as families ramp up purchases of specialty items for year-end holiday celebrations.<br />
<br />
Food prices, which carry the heaviest weighting in the index, posted a strong advance in October, registering their biggest monthly increase since June 2008, the IBGE said. Food and beverage prices surged 1.89% compared with a 1.08% increase in September. Food prices had declined in June, July and August. Nonfood prices also rose in October, gaining 0.41% after rising 0.27% in September and 0.12% in August, IBGE said. <br />
<br />
The central bank's latest survey of analysts and economists, released Monday, estimated 2010 year-end inflation at 5.31%, up from an estimate of 5.29% a week earlier. For 2011, the IPCA is expected to weigh in at 4.99%.<br />
<br />
<span style="font-size: x-large;">ECUADOR: </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: x-small;">.</span></span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Ecuador October Consumer Price Index Rose 0.25%</span> <br />
<br />
Ecuador's consumer price index rose 0.25% in October, virtually unchanged from the pace of increase in September, the National Institute of Statistics and Censuses, or Inec, said Tuesday on its website. In September the consumer-price index rose 0.26%. <br />
<br />
The cities with the highest increases in CPI in October included Guayaquil, Quito and Ambato.Inec attributed October's data to increases in the cost of food and beverages.<br />
<br />
The CPI rose 3.46% over the 12-month period through October. In October of last year, the CPI was up 3.50% on year. The accumulated CPI rise between January and October was 2.52%, compared with 3.37% registered in the same period last year. <br />
<br />
Inec also said the cost of the basic basket of consumer goods was $540.10 in October while the cost of the so-called living basket for minimum subsistence was $386.32. The baskets are calculated on the monthly needs of an average four-person Ecuadorean family with 1.6 salary earners. <br />
<br />
The government has said inflation is expected to be 3.1% this year, after reaching 4.31% in 2009.<br />
<br />
<span style="font-size: x-large;">CHILE:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks End At Record High</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>The peso ended at CLP476.90 to the dollar - Peso ended stronger than dollar </b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Chile's blue-chip Ipsa index ended higher at a second straight record as select stocks gained on strong earnings and investment bank recommendations. <br />
<br />
The Ipsa ended 0.4% higher at 5024.90, while market volume grew to 122.7 billion Chilean pesos ($257.3 million) from CLP83.3 billion the prior session.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Among gainers, shopping center developer Parque Arauco (PARAUCO.SN) jumped 4.6% to a 52-week high of CLP1,180.00, after local investment bank Celfin Capital increased its 2011 year-end target price to CLP1,298 per share. Celfin Capital also upgraded Parque Arauco's recommendation from hold to buy. <br />
<br />
The nation's largest retailer Falabella (FALABELLA.SN) increased 1.1% to CLP4,820.00, after Mall Plaza, which is controlled by Falabella, said it aimed to become the leading operator of shopping malls in Colombia. <br />
<br />
La Polar (LAPOLAR.SN), which recently opened its first store in Colombia and has said that within a decade its operations in Chile will likely be eclipsed by those in Colombia, expanded 2.0% to CLP3,602.50. <br />
<br />
Telecommunications operator Entel (ENTEL.SN) rose 2.0% to CLP8,127.50 after posting a better-than-anticipated 22% on-year gain in third quarter net profits to 45.9 billion. Traders see additional upside potential for Entel. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Flagship carrier LAN Airlines (LFL, LAN.SN) pared back earlier gains to end 0.2% lower at CLP14,799.00 after the European Commission fined it and 10 other airlines a total of EUR799 million for forming a global cartel to fix air-freight tariffs, mainly fuel surcharges.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European Markets:</span></div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Stocks End Higher </span><br />
<i><b>The euro was down 0.4% at $1.3865. The British pound fell 0.5% to $1.6056. </b></i><br />
<br />
The Stoxx Europe 600 index ended up 0.6% at 273.46. The U.K.'s FTSE 100 closed up 0.4% at 5875.19 . Germany's DAX gained 0.6% to 6787.81 and France's CAC-40 closed 0.8% higher at 3945.71. <br />
<br />
The Stoxx Europe 600 basic resources index rose 2.0% to 598.25 as base and precious metal prices continued to sprint higher. Copper in particular was strong and surged to a two-year high while gold raced above the $1400 per ounce mark.<br />
<br />
<span style="font-size: x-large;">LONDON:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">U.K. industrial production data for September were in line with consensus expectations, rising 0.4% month-on-month.<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">GERMANY:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Deutsche Post AG rose 4.1% after the company swung to a third-quarter net profit.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">FRANCE:</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Shares of Hermes International rallied 7.6% after the luxury-goods maker reported a 31% rise in third-quarter sales and lifted its outlook.</span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FRENCH COURT PASSES PENSION LAW</span><br />
France's constitutional court approves President Nicolas Sarkozy's retirement reform bill that has drawn millions on to the streets in weeks of protests, and he now has 15 days to sign it into law. </span><br />
<br />
<span style="font-size: x-large;"><span style="font-family: Arial,Helvetica,sans-serif;">SWITZERLAND:</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Shares of Adecco advanced 3.7% after the personnel-services firm said its third-quarter net profit surged 42% and revenue increased sharply.</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: x-large;">DENMARK:</span><br />
Danish brewer Carlsberg slumped 5% after the group said market conditions remain "challenging" in several Northern and Western European markets. The firm also warned it will be impacted by rising input costs and will have to increase sales prices.<br />
<br />
____________________________________________________________<br />
Asian Pacific Markets:<br />
(pending news)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(TUESDAY, NOV 9, 2010 4:10 PM EST)</b></i><br />
<br />
EUR/USD 1.3862 -0.0056 (-0.40%)<br />
USD/JPY 81.1500 0.0000 (0.00%)<br />
GBP/USD 1.6046 -0.0097 (-0.60%)<br />
CAD/USD 0.9987 +0.0021 (0.21%)<br />
USD/HKD 7.7511 +0.0003 (0.00%)<br />
USD/CNY 6.6424 -0.0367 (-0.55%)<br />
AUD/USD 1.0115 -0.0004 (-0.04%)<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(TUESDAY, NOV 9, 2010 4:10 PM EST)</b></i><br />
<br />
Shanghai 3,135.00 -24.51 (-0.78%)<br />
Nikkei 225 9,694.49 -38.43 (-0.39%)<br />
Hang Seng Index 24,710.60 -253.77 (-1.02%)<br />
TSEC 8,445.63 +15.05 (0.18%)<br />
FTSE 100 5,875.19 +25.23 (0.43%)<br />
DJ EURO STOXX 50 2,890.64 +22.68 (0.79%)<br />
CAC 40 3,945.71 +32.01 (0.82%)<br />
S&P TSX 12,916.63 -135.85 (-1.04%)<br />
S&P/ASX 200 4,740.70 -37.70 (-0.79%)<br />
BSE Sensex 20,932.48 0.00 (0.00% <br />
<br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TUESDAY'S U.S. ECONOMIC CALENDAR:</span><br />
<br />
7:30 a.m.<br />
Oct NFIB Index of Small Business Optimism Index (previous 89)<br />
<br />
7:45 a.m.<br />
Nov 6 ICSC-Goldman Sachs Chain Store Sales Index - WoW (previous +0.1%), YoY (previous +2%)<br />
<br />
8:30 a.m.<br />
World Agricultural Supply & Demand Estimates (WASDE)<br />
<br />
8:55 a.m.<br />
Nov 6 Johnson Redbook Retail Sales Index MoM % Change (previous +0.2%), 12MonChgPct (previous +2.6%), 52WkChgPct (previous +2.5%)<br />
<br />
10:00 a.m.<br />
Sept. Job Openings & Labor Turnover Survey<br />
<br />
10:00 a.m.<br />
Nov IBD/TIPP Economic Optimism Index Economic Optimism Index (previous 46.4), 6-Month Economic Outlook (previous 49.6)<br />
<br />
10:00 a.m.<br />
Sept. Monthly Wholesale Trade Inventories (expected +0.6%)<br />
<br />
4:30 p.m.<br />
Nov 6 API Weekly Statistical Bulletin Crude Stocks (Net Change) (previous -4.14M), Gasoline Stocks (Net Change) (previous -3.2M), Distillate Stocks (Net Change) (previous -4.73M), Refinery Runs (previous 81.2%)<br />
<br />
5:00 p.m.<br />
Nov 7 ABC News Consumer Confidence Index (previous -46)<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, MONDAY, NOV. 8, 2010:</span><br />
<br />
Stocks:<br />
U.S. stocks were mixed as the Dow Jones Industrial Average fell and the Nasdaq Composite rose amid resurging concerns over European sovereign debt, and international disputes about the Federal Reserve's recent actions.<br />
<br />
Treasurys:<br />
Treasury prices fell, pressured by a heavy slate of new bond supply from both the U.S. government and the private sector. The Treasury auctioned $32 billion notes at a second-lowest yield ever of 0.575%, allowing the U.S. government to borrow at historically low interest rates to fund a budget shortfall. The record low yield was set at last month's sale, at 0.569%.<br />
<br />
Forex:<br />
The euro declined against the dollar and yen as investors renewed their scrutiny of the euro-zone periphery nations, especially Ireland. Many investors pared aggressive bets in favor of the common currency due to debt problems in Ireland, Portugal and Spain, analysts said. The cost of insuring against sovereign debt defaults for those nations went up overnight. <br />
<br />
<br />
<br />
© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com1tag:blogger.com,1999:blog-11562244.post-32929412143026482692010-11-08T07:19:00.000-08:002010-11-21T16:55:20.758-08:00Stock Market Update - Monday, November 8, 2010 Cautious Choppy Trend<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Monday, November 8, 2010</span></div><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines:</span><br />
Dow Jones 11,406.76 <span style="color: red;">-37.32 (-0.33%)</span><br />
S&P 500 1,223.23 <span style="color: red;">-2.62 (-0.21%)</span><br />
Nasdaq 2,580.05 <span style="color: #38761d;">+1.07 (0.04%)</span><br />
<br />
<i><b>Dow Jones 2:00 PM Averages: DJIA 11,398.86 DN 45.22</b></i><br />
30 INDUS 11,398.86 DN 45.22 OR 0.40%<br />
20 TRANSP 4,911.10 DN 12.30 OR 0.25%<br />
15 UTILS 406.29 DN 3.31 OR 0.81%<br />
65 STOCKS 3,955.18 DN 16.82 OR 0.42%</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<br />
<i><b>US COMMODITY PRICES: (NOV. 8, 4:00 PM EST)</b></i><br />
Crude Oil 86.82 - 0.28%<br />
Natural Gas 4.09 + 0.15%<br />
Gasoline 2.17 -<br />
Heating Oil 2.39 -<br />
Gold 1409.94 + 1.17%<br />
Silver 27.73 + 3.70%<br />
Copper 3.95 + 0.15%<br />
<br />
<i><b>US DOLLAR FUTURES INDEX DXY: NOV. 8, 4:01PM EST: 77.04 <span style="color: #38761d;">Up 0.54 (0.70%)</span> </b></i><small><b><span id="yfs_t10_dx-y.nyb"></span></b></small></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Dollar Gained, Stocks Edged Down</span><br />
At the close of another choppy trading day the minor gain of the dollar, and minor loss in equities in the US and world markets shows investors a top and a bottom is now in place.<br />
<br />
The dollar's performance today gained less than 0.71%, yet, the Dow declined 0.33%, the S&P declined 0.21%, Nasdaq closed up 0.04%. Basic Material, Energy and Technology sectors increased.<br />
<br />
US equities are at an upper resistance area and now ready to decline against a rising dollar. If further overnight market manipulation takes place, you can expect the dollar to decline to its base tomorrow and stocks to show minor gain Tuesday.<br />
<br />
Wheat prices rose to a four-week high today on speculation that a US government report tomorrow will show shrinking domestic and world grain supplies. <br />
<br />
The U.S. banking cartel announced, as if it was a surprise, that the middle class has been unable to save any real money, due to the rising costs of food and energy. The US savings rate declined 1%.<br />
<br />
The US Government removes those costs, from the cost of living, CPI number reports that is announces on inflation. And that well over 30,000,000 million American's are not able to find employment.<br />
<br />
If fact if you do a little math you will see that over 430,000 American's loose their jobs every week, times 52 weeks a year, that comes to over 22,360,000 new unemployed American's per year. The real unemployment rate is near 30% of the US population.<br />
<br />
California's unemployment is at a 70 year high. California alone is borrowing more than $40,000,000, that's $40million dollars a day to pay unemployment benefits to it's unemployed residence. California is so desperate, it is shipping its prisoners out of state to cut costs.<br />
<br />
US Banker's announced today, that even though they have relaxed some lending standards, almost no one, especially small business, are able to qualify for a loan. And they stated that will be the US national trend for the foreseeable future. <br />
<br />
In early morning trading the US equities and most commodities edged down against the dollar' rise.<br />
<br />
In overnight trades the euro fell to $1.3935. As the euro weakened, the dollar strengthened, with the U.S. Dollar Index--tracking the U.S. currency against a basket of six others--up 0.6% recently. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">The Nasdaq Composite shed 0.3% to 2570. The Standard & Poor's 500 index dropped 0.4% to 1221, with all its sectors in decline.</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CRUDE OIL:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>U.S. Crude Oil: $86.97 PER barrel </b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><b>OIL FUTURES: Nymex Crude Closes 22c Higher At $87.07/Bbl</b></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Light, sweet crude for December delivery settled up 21 cents at $87.06 a barrel on the New York Mercantile Exchange, after retreating from an intraday high of $87.49. <br />
<br />
Brent crude on the ICE futures exchange recently rose 34 cents, or 0.4%, at $88.45 a barrel.<br />
The ICE Dollar Index, which tracks the dollar against a basket of currencies, recently rose to 77.053 from 76.548.<br />
<br />
Front-month December reformulated gasoline blend stock, or RBOB, fell 0.15 cent, or 0.1%, at $2.1785 a gallon. December heating oil climbed 1.36 cents, or 0.6%, at $23.984 a gallon.<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NATURAL GAS:</span></div>U.S. NAT GAS: $4.08<br />
<b>Futures Close 3.8% Higher At $4.088/MMBtu</b></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">PRECIOUS METALS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>U.S. Gold:$ 1,404.80</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>U.S. Silver: $ 27.47</b></i><br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Spot Gold Hits Record High $1,407</span></div>Spot gold climbed to a new record high Monday, breaking above $1,400 a troy ounce as renewed concerns over the sovereign debt situation in Europe drew investors toward the yellow metal's perceived haven status.<br />
<br />
The most actively traded gold contract, for December delivery, was recently up $7.30, or 0.5%, at $1,405 an ounce on the Comex division of the New York Mercantile Exchange. It had hit a record intraday high of $1,407.20 an ounce. <br />
<br />
<br />
The spot price of gold hit $1,404/oz at 12:46 EST. It has since slipped back marginally to $1,399.80/oz, still up 0.5% on the day.<br />
<br />
World Bank President Robert Zoellick, in an article published Sunday in the Financial Times, urged the world's developed economies to consider re-adopting a modified gold standard as a way to avoid currency disputes between nations. <br />
<br />
Zoellick calls for a system that "is likely to need to involve the dollar, the euro, the yen, the pound and a renminbi that moves towards internationalization and then an open capital account." He said the system also should "consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values." <br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. BONDS/TREASURYS</span><br />
Demand for Treasurys fell, lifting the yield on the 10-year note up to 2.54%. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">3 Month 0.10% -0.01 (-9.09%)<br />
6 Month 0.14% 0.00 (0.00%)<br />
2 Year 0.40% +0.02 (5.26%)<br />
5 Year 1.13% +0.02 (1.80%)<br />
10 Year 2.55% +0.02 (0.79%)<br />
30 Year 4.12% -0.01 (-0.24%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Toronto Stocks Up Slightly</span></div><div style="font-family: Arial,Helvetica,sans-serif;">The stock market was slightly higher at midday Monday, led by materials, gold producers and, technology. <br />
<br />
At 11:45 a.m. EDT, the S&P/TSX Composite Index was up 42.13 points, or 0.33%, at 12967.24. Advancers led decliners 845 to 631. Trading volume was 278 million shares. The S&P/TSX 60 Index was up 1.73 points, or 0.2%, to 742.07.<br />
<br />
<b>Toronto Indexes, Volume; 3 PM EST Composite Up 82.00</b><br />
<br />
S&P/TSX Composite 13007.11 up 82.00 or 0.6%<br />
S&P/TSX 60 Index 744.02 up 3.68 or 0.5%<br />
Financials 182.69 off 0.01 or 0.0%<br />
Materials 426.97 up 8.18 or 2.0%<br />
Energy 302.68 up 0.82 or 0.3%<br />
Industrials 106.93 up 0.23 or 0.2%<br />
IT 29.45 up 0.20 or 0.7%<br />
<br />
Volume Monday Friday<br />
2-3 73.0M 87.5M<br />
9:30-3 529.6M 433.9M <br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European Markets:</span></div><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European Equities Closed Mostly Lower Monday.</span></div>The Stoxx Europe 600 index ended little changed at 271.91. The U.K.'s FTSE 100 closed down 0.4% at 5849.96, Germany's DAX fell 0.1% to 6750.50 and France's CAC-40 slipped 0.1% to 3913.70. The Dow Jones Industrial Average was recently 0.3% lower at 11,410. <br />
<br />
<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(MONDAY, NOV 8, 2010 4:00 PM EST)</b></i><br />
<br />
<table class="quotes"><tbody>
<tr><td class="symbol"><a href="http://www.google.com/finance?q=EURUSD">EUR/USD</a> </td><td class="price">1.3904 </td><td class="change chr">-0.0140 (-1.00%)</td></tr>
<tr> <td class="symbol"><a href="http://www.google.com/finance?q=USDJPY">USD/JPY</a> </td><td class="price">81.1700 </td><td class="change chr">-0.1700 (-0.21%)</td></tr>
<tr> <td class="symbol"><a href="http://www.google.com/finance?q=GBPUSD">GBP/USD</a> </td><td class="price">1.6142 </td><td class="change chr">-0.0048 (-0.30%)</td></tr>
<tr> <td class="symbol"><a href="http://www.google.com/finance?q=CADUSD">CAD/USD</a> </td><td class="price">0.9961 </td><td class="change chr">-0.0034 (-0.34%)</td></tr>
<tr> <td class="symbol"><a href="http://www.google.com/finance?q=USDHKD">USD/HKD</a> </td><td class="price">7.7511 </td><td class="change chg">+0.0006 (0.01%)</td></tr>
<tr> <td class="symbol"><a href="http://www.google.com/finance?q=USDCNY">USD/CNY</a> </td><td class="price">6.6792 </td><td class="change chg">+0.0242 (0.36%)</td></tr>
<tr> <td class="symbol"><a href="http://www.google.com/finance?q=AUDUSD">AUD/USD</a> </td><td class="price">1.0101 </td><td class="change chr">-0.0043 (-0.42%)</td></tr>
</tbody></table><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(MONDAY, NOV 8, 2010 4:00 PM EST)</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">Shanghai 3,159.51 +30.01 (0.96%)<br />
Nikkei 225 9,732.92 +106.93 (1.11%)<br />
Hang Seng Index 24,964.37 +87.55 (0.35%)<br />
TSEC 8,430.58 -18.76 (-0.22%)<br />
FTSE 100 5,849.96 -25.39 (-0.43%)<br />
DJ EURO STOXX 50 2,867.96 -7.98 (-0.28%)<br />
CAC 40 3,913.70 -3.03 (-0.08%)<br />
S&P TSX 13,029.46 +104.35 (0.81%)<br />
S&P/ASX 200 4,778.40 -22.20 (-0.46%)<br />
BSE Sensex 20,852.38 -41.19 (-0.20%))</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MONDAY'S U.S. ECONOMIC CALENDAR:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">10:00 a.m.<br />
Oct US Employment Trends Index (ETI) (previous 97), US Employment Trends Index (ETI) MoM Change (previous -0.3%)<br />
<br />
12:30 p.m.<br />
Federal Reserve Bank of St. Louis President James Bullard speech in New York<br />
<br />
1:40 p.m.<br />
Dallas Fed Pres Fisher speaks on 'The Impacts of Financial Reform on the Road to Economic Recovery' in San Antonio, Tex.<br />
<br />
3:30 p.m.<br />
Fed Gov Warsh speaks in New York.<br />
<br />
N/A<br />
Securities Industry and Financial Markets Association - SIFMA Annual Meeting </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, FRIDAY, NOV. 5, 2010:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Stocks:<br />
U.S. stocks were flat Friday, taking a breather a day after surging to two-year highs even as U.S. nonfarm payrolls increased more than expected. The measure was weighed down by Kraft Foods. The food giant posted an 8.5% decline in third-quarter profit late Thursday. <br />
<br />
Treasurys:<br />
Treasurys lost ground Friday as demand for safer assets was undercut by a report showing that the U.S. economy added jobs. Bond dealers also pushed down prices in an attempt to stir interest in the $72 billion in new government bonds being auctioned next week.<br />
<br />
Forex:<br />
The dollar rallied -- reversing some of the losses suffered in the wake of the Federal Reserve's stimulus plan -- after the non-farm U.S. payrolls report surprised to the upside. <br />
<br />
<br />
© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved. </div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-25343652435458804272010-11-05T04:44:00.000-07:002010-11-21T16:56:27.841-08:00Stock Market Update - Friday, November 5, 2010 - Cautious Trading Day<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Friday, November 5, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Latest US Economic News Headlines:</span></span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>USA EQUITY INDEXES: (NOV. 5, 4:05 PM EDT)</b></i><br />
Dow Jones 11,444.08 <b><span style="color: #38761d;">+9.24 (+0.08%)</span></b><br />
S&P 500 1,225.85 <b style="color: #38761d;">+4.79 (+0.39%)</b><br />
Nasdaq 2,578.98 <b style="color: #38761d;">+1.64 (+0.06%)</b></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<i><b>Dow Jones CLOSING Averages: DJIA 11,444.08 UP 9.24</b></i><br />
30 INDUS 11,444.08 UP 9.24 OR 0.08%<br />
20 TRANSP 4,923.40 DN 0.39 OR 0.01%<br />
15 UTILS 409.60 DN 0.12 OR 0.03%<br />
65 STOCKS 3,972.00 UP 1.37 OR 0.03%<br />
<br />
<i><b>US COMMODITY PRICES: (NOV. 5: 4:00 PM EDT)</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">Crude Oil 87.08 <span style="color: #38761d;">+ 0.27%</span><br />
Natural Gas 3.93 <span style="color: red;"> - 0.15%</span><br />
Gasoline 2.19 <span style="color: #38761d;">+ 0.28%</span><br />
Heating Oil 2.39 -<br />
Gold 1393.01 <span style="color: #38761d;">+ 0.04%</span><br />
Silver 26.71 <span style="color: #38761d;">+ 1.33%</span><br />
Copper 3.94 <span style="color: #38761d;">+ 0.92%</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>US DOLLAR FUTURES INDEX DXY: NOV. 5,</b></i><small><span id="yfs_t10_dx-y.nyb"><span style="font-size: small;"><b> 4:05PM EDT: 76.59 <span style="color: #38761d;">Up 0.71 (0.93% )</span></b></span><span style="color: #38761d; font-size: small;"><b> </b></span></span></small> </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US Dollar Recovers - US Stocks Seen Unchanged</span><br />
U.S. stocks moved between small gains and losses Friday as mixed data entered the market news wires.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<i><b> </b></i><br />
The Dow Jones Industrial Average gained 9 points, to close at 11,444.08. At the close, the Nasdaq Composite gained 1.6 points to end the week at 2,578. The Standard & Poor's 500-stock index edged up 0.39% to end the volatile week at 1,225.<br />
<br />
U.S. pending home sales slipped for the first time in three months in September. Nonfarm payrolls rose by a greater-than-expected 151,000 last month as private-sector employers added 159,000 jobs, the Labor Department said. The unemployment rate, which is obtained from a separate household survey, remained at a lofty 9.6% in October.<i><b> </b></i><br />
<br />
<i><b>US Stock Futures Gain After Jobs Data</b></i><br />
Before the bell U.S. stock futures edged higher on Friday morning as the employment report came in better than expected.<br />
<br />
The Dow Jones Industrial Average fell 2 points to 11433 in early trading. The Nasdaq Composite slipped less than a point to 2575. The Standard & Poor's 500 index edged up 0.1% to 1222. <br />
<br />
<span style="font-size: large;">EQUITIES:</span><br />
<br />
Kraft Foods led the measure's drop, off 1.6%, after the food company posted an 8.5% drop in third-quarter profit as higher taxes, jumps in advertising spending and the costs for integrating Cadbury weighed. In addition, Starbucks Chief Executive Howard Schultz told investors his company will discontinue its arrangement to use Kraft as a distributor for its coffee products.<br />
<br />
Shares of American International Group slipped 2.3%. The company swung to a $2.4 billion third-quarter loss as it booked $4.5 billion of restructuring charges. <br />
<br />
Starbucks rose 3%. The coffee-shop chain said fiscal fourth-quarter net operating income doubled to $399.3 million and sales rose 17% to $2.8 billion. <br />
<br />
Coventry Health Care climbed 4.6%. The company's third-quarter earnings more than doubled absent prior-year losses at discontinued operations as the managed-care company's claims costs fell.<br />
<br />
<br />
<span style="font-size: large;">US DOLLAR:</span><br />
The U.S. Dollar gained overnight and after the previous session's inflation rally. The dollar rose, with the U.S. Dollar Index, which tracks the U.S. currency against a basket of six others, up 0.7%. <br />
<br />
Before the Jobs data report, futures on the Dow Jones Industrial Average fell 23 points to 11364 and S&P 500 futures were off 3.40 points to 1215.20. Nasdaq 100 futures slipped 4.75 points to 2179.70.<br />
<br />
<div style="color: #e06666; font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. BANK FAILURES:</span></div><span style="font-size: large;"><b>The FDIC Closed Banks Friday After Hours</b></span><br />
The U.S. Government FDIC regulators closed several US Banks late Friday and seized all assets.The Federal Deposit Insurance Corp announced it closed four additional banks. Friday's announcement brings the total failures for 2010 to 143. <br />
<br />
<br />
First Vietnamese American Bank, Westminster, CA., November 5, 2010 <br />
Pierce Commercial Bank, Tacoma, WA., November 5, 2010<br />
Western Commercial Bank, Woodland Hills, CA., November 5, 2010<br />
K Bank, Randallstown, MD., November 5, 2010 <br />
<br />
<span style="font-size: small;">To see the complete list of failed banks and credit unions visit:</span><br />
<br />
<span style="font-size: large;">Online Consultancy Network™ Bank Failure List</span><br />
<a href="http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html">http://ocnww.blogspot.com/2010/09/bank-failure-list-update-september-1.html</a> <br />
<br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">France, China, Russia Want New Monetary System </span></div>French President Nicolas Sarkozy, after a meeting with his Chinese counterpart Hu Jintao, Friday called for world economic powers to stop squabbling and hammer out a new international monetary system. The two discussed the future of the international monetary system, and also the "regulation of commodities prices," in order to "try to have a more balanced, more stable world," Sarkozy said. <br />
<br />
The ambition of France, which is next up to preside the G20 group of leading nations, is for all countries "to accept to sit around a table to lay the foundations of a new system that guarantees the stability of the world," Sarkozy said after a meeting with China's Hu Jintao.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US September Consumer Credit Increased $2.1B</span> <br />
<i><b>Consumer Credit Declined 1-1/2 percent At An Annual Rate in The Third Quarter. </b></i><br />
<br />
<i><b>Americans boosted borrowing for the first time in eight months in September, the Federal Reserve said Friday. </b></i><br />
<br />
<br />
Consumer credit outstanding grew a seasonally adjusted 1.1% in September, or $2.1 billion, to $2.412 trillion, according to the latest report from the Fed.<br />
<br />
Revolving credit declined 8-3/4 percent at an annual rate, and non-revolving credit increased 2-1/2 percent. <br />
<br />
The Sept. increase follows a revised $4.9 billion fall in consumer credit in August. The Fed had initially estimated consumer credit slipped $3.3 billion in August. <br />
<br />
The latest report shows that in September households increased their use of non-revolving credit, such as car, tuition, vacation and boat loans. Non-revolving credit grew by $10.4 billion to $1.598 trillion.<br />
<br />
<i><b>G.19 Release--Consumer Credit--November 5, 2010</b></i><br />
<a href="http://www.federalreserve.gov/releases/g19/Current/">http://www.federalreserve.gov/releases/g19/Current/</a> <br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. Pending-Home-Sales Index Declined -1.8% To 80.9 in September</span><br />
<br />
<i><b>The National Association of Realtors' index for pending sales of existing homes fell 1.8% to 80.9, the industry group said Friday.</b> </i><br />
<br />
Year over year, the pending-home-sales index is 24.9% below its level of 107.8 in September 2009. The NAR on Friday also revised its August index upward slightly to 82.4 from the previously estimated 82.3. <br />
<br />
The NAR index is based on pending sales of existing homes, including single-family homes and condominiums. A home sale is pending when the contract has been signed but the transaction hasn't closed. Pending sales typically close within one or two months of signing. <br />
<br />
Pending home sales plummeted in May after the expiration of a government tax credit program but had been on the rise in July and August as rock-bottom mortgage rates and distressed property sales enticed buyers.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Several banks have been accused of improperly filing foreclosure actions based on paperwork that hadn't been properly reviewed. Chase Bank said that they will re-enter the foreclosure process in the next two weeks. Research indicated that some of the largest banks holding defaulted mortgage paper will incur a $12 billion loss as a result. The top banks holding large quantities of defaulted loans are Chase Bank, Bank of America, Citibank and Well's Fargo Bank.<br />
<br />
Citigroup Inc. (C) is modifying some home loans as it works with attorneys general from 50 U.S. states investigating faulty foreclosures, Fox Business Network's Charles Gasparino reported Friday. <br />
<br />
The National Association of Realtors is forecasting existing-home sales in 2011 will rise to more than 5.1 million from about 4.8 million this year. It expects housing starts to rise to 716,000 in 2011 from 598,000 this year.<br />
<br />
The association expects median home prices will rise to $173,700 in 2011 from $172,600 this year. Regionally, the NAR's pending home sales index in September declined everywhere but in the West. In the West, the NAR's index rose 3.5% to 104.6, a level that is still 24.7% below its year ago level. <br />
<br />
The NAR's regional index fell most steeply in the Midwest, slipping 5.7% to 64.2 -- 33% below its year ago level. In the South, the index fell 3.5% to 87.6, which is 19.1% lower than September 2009. The index declined 1.7% in the Northeast to 59.6. That figure is 28.3% lower than in September 2009.<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">LARGE US PAYROLL GAIN REPORTED</span><br />
<i><b>Non-farm payrolls for October reportedly climbed by 151,000, which is much better than the 60,000 increase that had been expected. </b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
It was the biggest increase since May. Non-farm payrolls for the prior month were revised upward to reflect a decrease of 41,000. The job report was expected to have risen by 60,000 in October, after a 95,000 decline in the previous month, with the unemployment rate seen static at 9.7 percent month-on-month.<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Private payrolls for October increased by 159,000 in October. That was their biggest increase since April and also exceeded the 60,000 increase that had been widely expected. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Private payrolls for the prior month were revised upward to reflect an increase of 107,000 increase. The headline unemployment rate still stands at 9.6%.<br />
<br />
Average hourly earnings of all employees increased by $0.05 to $22.73, which could also help support consumer spending.. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<br />
<i><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Fed's Move May Not Save The Job Market</span></i><br />
"The Federal Reserve has a particular obligation to help promote increased employment and sustain price stability. Steps taken this week should help us fulfill that obligation."<br />
<br />
The number of U.S. workers filing new claims for jobless benefits rose last week by more than expected, in yet another reminder of the weakness in the U.S. labor market.<br />
<br />
Initial unemployment claims jumped by 20,000 to 457,000 in the week ended Oct. 30, the Labor Department said in its weekly report Thursday. <br />
<br />
Instead of adding new workers, businesses are using their current workforces more efficiently. Output rose 4.1% over the year ended in the third quarter, with productivity up 2.5%, while hours worked rose just 1.6%.<br />
<br />
At 8:30 A.M.EDT The October Unemployment rate for Non-Farm Payrolls (expected +60K), Unemployment Rate (expected 9.7%), Average Hourly Earnings (previous 22.67) More than 5 million people received the emergency benefits during the week ending Oct. 16, the latest data available. All told, more than 8.7 million people received jobless benefits that week.<br />
<br />
The emergency benefits program, extended several times by Congress, is set to expire at the end of this month. Many analysts doubt Congress will extend it again. That could cause as many as 1 million people a month to lose benefits, according to the National Employment Law Project, a nonprofit group. <br />
<br />
<br />
<span style="font-size: x-large;">CRUDE OIL:</span><br />
<i><b>U.S. Crude Oil: $86.85</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Crude Oil Settle At A Two-Year High</b></i><br />
<br />
Light, sweet crude for December delivery settled up 36 cents, or 0.4%, at $86.85 a barrel on the New York Mercantile Exchange, the highest settlement since October 2008. Brent crude on the ICE futures exchange recently gained 12 cents, or 0.1%, at $88.12. <br />
<br />
Crude settled higher every day this week, finishing up 6.7%. Crude oil futures are in the midst of a bull run, with the December contract up 0.5 percent to $86.88 a barrel December oil may try to hurdle the May 3 high of $87.15 a barrel throughout the global day, above which oil would be at its highest since October 2008.<br />
<br />
<span style="font-size: x-large;">US NATURAL GAS:</span><br />
<span style="font-size: large;">Futures Flat </span><br />
Natural gas for December delivery recently traded 7.1 cents, or 1.8%, higher at $3.927 a million British thermal units on the New York Mercantile Exchange.<br />
<br />
The U.S. Energy Information Administration reported Thursday that gas inventories rose 67 billion cubic feet in the week ended Oct. 29. Inventories are now 16 billion cubic feet below last year's record 3.837 trillion cubic feet.<br />
<br />
<br />
<span style="font-size: x-large;">PRECIOUS METALS:</span><br />
<i><b>U.S. Gold: $1,394</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>U.S. Silver: $ 26.76</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Gold futures settled at a record high near $1,400 Friday. Gold advanced to a fresh record high of $1,394 an ounce and then speculators took profits, causing the metal to reverse course and fall 0.3 percent on the day to $1,387.96.<br />
<br />
Gold is up some 27 percent so far this year, benefiting from inflation hedges and a recurring inverse relationship to the dollar's performance.<br />
<br />
The most actively traded gold contract, for December delivery, gained $14.60, or 1.1%, to settle at a record $1,397.70 a troy ounce. It gained 3% on the week. <br />
<br />
<br />
<span style="font-size: x-large;">U.S. BONDS:</span> <i><b>(4:00 PM EDT) </b></i><br />
3 Month 0.10% 0.00 (0.00%)<br />
6 Month 0.14% <span style="color: red;">-0.01 (-6.67%)</span><br />
2 Year 0.37% <span style="color: #38761d;">+0.02 (5.71%)</span><br />
5 Year 1.09% <span style="color: #38761d;">+0.04 (3.81%)</span><br />
10 Year 2.54% <span style="color: #38761d;">+0.01 (0.40%)</span><br />
30 Year 4.12% 0.00 (0.00%)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<i>Treasurys were lower, pushing the yield on the 10-year note up to 2.51%.</i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Toronto Stocks Higher </span><br />
Toronto stocks ended higher in mixed trading, as some investors took profits on gains earlier in the week in response to increasing optimism over the prospects of a strengthening economic recovery. <br />
<br />
The S&P/TSX Composite Index rose 46.32 points, or 0.36%, to 12925.11, advances exceeded declines 961 to 687 and trading volume was 606.80 million shares, down from Thursday's total of 696.60 million shares. The S&P/TSX 60 Index closed up 2.61 points, or 0.35%, to 740.34.<br />
<br />
The stock market was higher Friday, as resource stocks continue to add to their gains from Thursday. At 11:45 CDT, the Toronto Stock Exchange was trading at 12924.3 points, up 45.4 points from Thursday's close. <br />
<br />
At 11:45 a.m. EDT (1545 GMT), the S&P/TSX Composite Index was up 70.01 points, or 0.54%, at 12948.80 and advances led declines 852 to 552. Trading volume was 264.70 million shares.The S&P/TSX 60 Index was up 3.55 points, or 0.48%, to 741.28 points.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canada Dollar Reaches Parity</span><br />
The Canadian dollar reached parity momentarily Friday morning and was trading stronger at midday. At 11:45 CDT, the Canadian dollar was trading at C$1.0004 (99.96 US cents), compared to C$1.000 (US$1.00) at 08:55 CDT, and C$1.0024 (97.76 US cents) at Thursday's close. <br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Employment Remains Steady</span></div></div><div style="font-family: Arial,Helvetica,sans-serif;">Employment numbers remained virtually unchanged for the second-consecutive month in October, as full-time gains offset part-time losses, according to a report from Statistics Canada. The unemployment rate edged down to 7.9% and has been around 8% for the past seven months. <br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Potash Decision In Best Interest Of Economy</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Canadian Prime Minister Stephen Harper said Thursday the government's decision to reject BHP Billiton Ltd.'s (BHP) hostile takeover of Potash Corp. of Saskatchewan (POT) was "clearly in the best interest" of the economy even as he stressed its policy of welcoming foreign investment.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: large;"><b>Toronto Indexes 4:00 PM EDT </b></span><br />
<br />
S&P/TSX Composite 12925.11 up 46.32 or 0.4%<br />
S&P/TSX 60 Index 740.34 up 2.61 or 0.4%<br />
Financials 182.70 up 1.45 or 0.8%<br />
Materials 418.79 up 2.28 or 0.5%<br />
Energy 301.86 off 0.12 or 0.0%<br />
Industrials 106.70 off 0.29 or 0.3%<br />
IT 29.25 up 0.02 or 0.1%<br />
<br />
Volume Friday Thursday<br />
3-4:15 103.5M 129.2M<br />
9:30-4:15 607.1M 696.8M</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">South American Markets:</span></div><br />
<span style="font-size: x-large;">BRAZIL:<span style="font-size: small;">.</span></span><br />
<br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Brazil Stocks Close Lower </span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><i><b>Brazilian share prices closed lower Friday</b></i>.</span></span><br />
<br />
<span style="font-size: x-large;"><span style="font-size: small;">Brazil's benchmark Ibovespa stocks index closed 0.53% lower at 72607 points. Volume was moderate at 5.91 billion Brazilian reais ($3.52 billion).</span></span><br />
<br />
<span style="font-size: x-large;"><span style="font-size: small;">State oil company Petrobras (PBR, PETR4.BR) fell 0.91% to close at BRL27.25. </span></span><span style="font-size: x-large;"><span style="font-size: small;">Aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), advanced 0.55% to BRL12.84</span></span><span style="font-size: x-large;"><span style="font-size: small;"> . <br />
<br />
Mining major Vale SA (VALE, VALE5.BR) saw its shares fall 0.06% to close at BRL49.32 despite a rise in global metals prices. Telecom leader Tele Norte Leste Participacoes SA (TNE, TNLP4.BR), or Oi, retreated 1.36% to close at BRL25.45. <br />
<br />
Steel maker Usiminas (USIM5.BR, USNZY) fell 0.22% to BRL22.28, and steel rival Cia Siderurgica Nacional (SID, CSNA3.BR), or CSN, declined 0.80% to BRL29.66. <br />
<br />
Minas Gerais utility Cemig (CMIG4.BR) fell 2.33% to BRL29.40, and real estate developer Gafisa (GFSA3.BR) advanced 0.96% to BRL14.79.. </span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;">.</span></span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Major Countries Must Align On Currency</span><br />
<i><b>Most South American and European Country's Disagree with QE2 Move</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">The world's major economies need to find a way to work together to ensure that currency fluctuations don't create problems for developing economies, Brazil Central Bank President Henrique Meirelles said Friday. <br />
<br />
Efforts by the U.S. to bolster liquidity in its credit markets through non-conventional means could have spill-over effects that create risky bubbles in countries like Brazil, according to Meirelles. <br />
<br />
"Excessive liquidity creates risks for everyone," said Meirelles, speaking to reporters at the headquarters of CME Group Inc. (CME). Meirelles said there are signs among some members of the Group of 20 meeting next week in Seoul, that could lead to an agreement on the matter. <br />
<br />
"Many countries" feel the same way as Brazil on the matter, Meirelles said, which could better facilitate any deal making at next week's G20 meeting.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><span style="font-family: Arial,Helvetica,sans-serif;">The move by the U.S. Treasury has troubled other major economies, said Meirelles, because countries like Brazil continue to grow and feature "robust" demand. The extra liquidity pumped into the system by the Fed could create "imbalances," he said.</span><br />
<br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Mexico's Stocks Higher</span></span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Mexico's Oct Consumer Confidence Up To 89.2</b></i><br />
<br />
Mexican stocks opened higher Friday after a positive U.S. employment report, continuing a rally that includes a string of record high closes. <br />
<br />
The IPC index of leading issues was up 0.2% at 36,268 points around 10:30 a.m. EDT. Volume was 19.1 million shares worth 513.4 million pesos ($42.1 million). <br />
<br />
Cement maker Cemex CPO shares were up 0.3% to MXN11.82, retailer Wal-Mart de Mexico V shares were up 0.6% at MXN33.34, while bellwether America Movil L shares were 0.4% lower at MXN35.94. <br />
<br />
The Ixe brokerage said valuations for the IPC stocks are close to their five-year highs, although it expects that multiples could remain high as emerging markets are expected to grow more than developed economies while fixed-income yields--a less risky alternative to equities--are also moving lower. <br />
<br />
The peso was continuing its rise against the dollar, quoted in Mexico City at MXN12.1985 compared with MXN12.2240 at the close Thursday. <br />
<br />
BBVA Bancomer said the peso lagged other Latin American currencies Thursday after the announced U.S. liquidity measures led to massive appetite for riskier assets, attributing that to the peso hitting resistance at MXN12.20. "Although U.S. cyclical risks prevail, the risk of foreign-exchange-market intervention is still lower if compared to other countries in the region," BBVA Bancomer said in predicting further peso gains.<br />
<br />
<span style="font-size: x-large;">PERU:</span><br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Lima Stock Exchange Ends Higher</span><br />
Peru's main stock market indexes ended higher Friday as a number of blue-chip shares gained. Copper miners rose sharply on a strike in Chile that gave a boost to the price of the red metal. <br />
<br />
The Lima Stock Exchange's broad General index closed higher by 0.85%, at 20402.51. The sol ended unchanged at PEN2.793 per dollar.The Central Reserve Bank of Peru didn't intervene in the foreign exchange market.<br />
<br />
<u><i>The Selective blue-chip index ended stronger by 1.76% at 29345.92. </i></u><br />
<br />
Base metals miner Southern Copper Corp. (SCCO, SCCO.VL) increased 4.65% to end at $46.50 on improved copper prices. Copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) rose 1.97% to end at $38.75. <br />
<br />
Precious metals miner Compania de Minas Buenaventura SAA (BVN, BUENAVC1.Vl) increased 0.93% to end at $54.50 as the price of gold rose. <br />
<br />
Financial holding company Credicorp Ltd. (BAP, BAP.VL) rose 0.08% to end at $126.50. It owns Peru's largest bank, Banco de Credito.<br />
<br />
<br />
<br />
<span style="font-size: x-large;">COLUMBIA:</span><br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Colombia Approves Stock Market Merger With Peru, Chile </span></div><br />
Colombia on Friday approved merging its stock market with those of neighboring Peru and Chile, which experts said will become the second-biggest stock market in Latin America after Brazil's. <br />
<br />
Colombian President Juan Manuel Santos and his Economy Minister Juan Carlos Echeverry "signed the decree authorizing the merger," a statement by the president's office said. <br />
<br />
Representatives from the stock markets and central banks of the three nations will meet next week in Bogota to launch the new stock market Wednesday, it added. <br />
<br />
A meeting of financial experts headed by Spain's BBVA Bank on Friday said the new stock market will boost overall trading in the three countries anywhere from three to five times the current volume. <br />
<br />
"That would make this stock market the second-largest in Latin America after Brazil's," BBVA said in a statement.<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
European stocks declined as the dollar regained minor value against the Euro. The EURO STOXX 50 declined slightly -12.76 (-0.44%) after the retail sector reported a decline in sales.<br />
<span id="articleText">At 0949 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 1,104.52 points</span>.<br />
<br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">In earlier/overnight trading, most European markets cautiously followed Asia higher, performing almost unchanged after rising 0.2 percent in early trade.<br />
<br />
<span style="font-size: large;">Euro-Zone Retail Sales Declined September</span><br />
Retail sales in the 16 countries that use the euro fell for the second straight month in September.<br />
<br />
<span style="font-size: x-large;">LONDON: </span></div><div style="font-family: Arial,Helvetica,sans-serif;">FTSE 100 5867.15 +4.36 +0.07%<br />
FTSE 250 11072.99 +56.53 +0.51%<br />
DJ UK Smaller Companies 919.58 +3.91 +0.43%</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Britain's FTSE 100 index is cautiously rising, tracking gains on Wall Street and in Asia, with commodities stocks advanced on firmer metals and crude prices, as investors awaited the key U.S. jobs report for October.<br />
<br />
<span id="articleText">Royal Bank of Scotland (<span id="symbol_RBS.L_0">RBS.L</span>) fell 2.2 percent as it expected challenging market conditions in the fourth quarter and said a UK bank tax would add up to 250 million pounds to its costs next year.</span> <br />
<br />
<br />
UK banking stocks fall under the spotlight on today, with trading updates due from both Royal Bank of Scotland (RBS.L) and HSBC (HSBA.L).<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">HSBC Executives Warn UK, EU Rules Could Drive It From London </span><br />
HSBC Holdings PLC (HBC) executives Friday gave some of their strongest indications yet that the bank may have to bow to what some observers see as inevitable and move its headquarters abroad to escape European Union rules on bank remuneration. HSBC said pretax profit in the third quarter grew more slowly than in the first half of the year and that revenue is down in the first nine months of 2010 compared with a year earlier, though bad loans continued to fall across the regions it operates in, including the U.S. <br />
<br />
The UK blue chip index looks set to rise 22 to 27 points, or as much as 0.5 percent, according to financial bookmakers, after it closed at its highest level in nearly 29 months on Thursday, up 113.82 points, or 2 percent, at 5,862.79.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Shell Sells Six Gulf Of Mexico Fields For $450 Mln </span><br />
Royal Dutch Shell PLC (RDSA.LN) Friday said it has agreed to sell its interest in six Gulf of Mexico oil and gas fields to a unit of W&T Offshore Inc. (WTI) for $450 million as part its ongoing portfolio restructuring. <br />
<br />
Oil prices rose to a two-year high on Friday, metals prices also rallied sharply, London copper rallying to fresh 27-month highs, as the Fed's move boosted the appeal of commodities in preserving value in an environment of dollar depreciation.<br />
<br />
<i>October UK PPI data is due at 0930 GMT.</i> </div><div style="font-family: Arial,Helvetica,sans-serif;">(pending news)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Asian Pacific Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Asian stocks rose for a fifth day on Friday, with commodity-related shares boosting regional markets. The MSCI index of Asia Pacific stocks outside Japan were up 0.9 percent, led by 2 percent gains in both the materials and energy sectors.<br />
<br />
<span style="font-size: x-large;">CHINA:</span><br />
The Shanghai Index closed at 3,129.50 +42.56 raising 1.38% percent. Shanghai zinc jumped 5% percent. Hong Kong's Hang Seng index finished the week at 24,876.82 +341.19 climbing 1.39% percent on strong turnover volume, extending its rise this week to 7.6 percent,<br />
<br />
<span style="font-size: x-large;">JAPAN:</span><br />
<br />
The Nikkei share average led gains in Asian stocks a second day, rising 2.9 percent, with big exporters among the supporting factors for the index.<br />
<br />
The Bank of Japan refrained from further monetary easing on Friday, resisting for now any temptation to boost its asset buying scheme to keep pace with the latest Fed's move.<br />
<br />
Profits at Japanese car maker Toyota have continued to soar, with second quarter earnings nearly doubling to 98.7bn yen.<br />
<br />
The company raised its profit forecast again, predicting earnings of 380bn yen ($4.7bn, £2.9bn) for the full year.<br />
<br />
Executive vice president Satoshi Ozawaspoke of a continued "very tough business environment, characterised by the radically and seriously appreciated yen in recent months, the risk of slow down in demand recovery in the United States and Europe, and falling demand following the end of the eco-car subsidies in Japan." Mr Ozawa warned the strong yen was putting "production levels" in Japan at risk.<br />
<br />
<span style="font-size: x-large;">AUSTRALIA:</span><br />
<br />
Australia's S&P/ASX 200 was up 1.1%.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Qantas Says Rolls-Royce Design May Have Caused Engine Failure </span><br />
Qantas Airways Ltd. (QAN.AU) Chief Executive Alan Joyce on Friday said the design of Rolls-Royce Group Plc (RR.LN) engines could have caused a mid-air failure that forced one of its A380 super jumbos to make an emergency landing in Singapore.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b>(WEDNESDAY, NOV 5, 2010 4:00 PM EDT)</b></i><br />
<br />
EUR/USD 1.4044 -0.0171 (-1.20%)<br />
USD/JPY 81.3400 +0.6000 (0.74%)<br />
GBP/USD 1.6190 -0.0081 (-0.50%)<br />
CAD/USD 0.9995 +0.0022 (0.22%)<br />
USD/HKD 7.7505 -0.0005 (-0.01%)<br />
USD/CNY 6.6550 -0.0059 (-0.09%)<br />
AUD/USD 1.0144 -0.0006 (-0.06%<br />
<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(WEDNESDAY, NOV 5, 2010 4:00 PM EDT)</b></i><br />
<br />
Shanghai 3,129.50 +42.56 (1.38%)<br />
Nikkei 225 9,625.99 +267.21 (2.86%)<br />
Hang Seng Index 24,876.82 +341.19 (1.39%)<br />
TSEC 8,449.34 +91.49 (1.09%)<br />
FTSE 100 5,875.35 +12.56 (0.21%)<br />
DJ EURO STOXX 50 2,875.94 -8.27 (-0.29%)<br />
CAC 40 3,916.73 -0.05 (0.00%)<br />
S&P TSX 12,925.11 +46.32 (0.36%)<br />
S&P/ASX 200 4,800.60 +55.30 (1.17%)<br />
BSE Sensex 21,004.96 +111.39 (0.53%)<br />
<br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">FRIDAY'S U.S. ECONOMIC CALENDAR:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">8:30 a.m.<br />
Oct Unemployment rate Non-Farm Payrolls (expected +60K), Unemployment Rate (expected 9.6%), Average Hourly Earnings (previous 22.67), Average Hourly Earnings Net Change (previous +0.01), Manufacturing Payrolls (previous -6K), Overall Workweek (previous 34.2), Overall Workweek Net Change (previous 0), Service Producing Payrolls (previous -73K), Government Payrolls (previous -159K), Federal Payrolls (previous -76K), Private Payrolls (previous +64K)<br />
<br />
8:30 a.m.<br />
Philadelphia Fed Pres Plosser moderates panel in Jekyll Island, Ga.<br />
<br />
9:15 a.m.<br />
Minneapolis Fed Pres Kocherlakota speaks in Jekyll Island, Ga.<br />
<br />
9:30 a.m.<br />
Kansas City Fed Pres Hoenig speaks in New Orleans.<br />
<br />
9:45 a.m.<br />
Cleveland Fed Pres Pianalto moderates session in Jekyll Island, Ga.<br />
<br />
10:30 a.m.<br />
U.S. Treasury Chief Economist discusses employment numbers<br />
<br />
11:15 a.m.<br />
Dallas Fed Pres Fisher moderates panel in Jekyll Island, Ga.<br />
<br />
12:30 p.m.<br />
Sep Pending Home Sales Index Current (previous 82.3), MoM Pct Change (Current Period) (expected +3%), YoY Pct Change (Current Period) (previous -20.1%)<br />
<br />
2:00 p.m.<br />
Fed Chmn Bernanke speaks in Jacksonville, Fla.<br />
<br />
2:45 p.m.<br />
St. Louis Fed Pres Bullard moderates session in Jekyll Island, Ga.<br />
<br />
3:00 p.m.<br />
Sep Consumer Credit Monthly Net Change (expected -3B)<br />
<br />
4:25 p.m.<br />
Richmond Fed Pres Lacker moderates panel in Jekyll Island, Ga.<br />
<br />
N/A<br />
Federal Reserve Bank of Atlanta conference opens, attended by Fed Presidents<br />
<br />
N/A<br />
Federal Reserve Bank of Kansas City President Thomas Hoenig speech</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
____________________________________________________________<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, THURSDAY, NOV. 4, 2010:</span><br />
<br />
<b>Stocks:</b><br />
US stocks rallied on an inflation rally after the Fed's action decreased the dollar's value. The stock market continues to trade inversely to the U.S. Dollar. Equities and commodities jumped to their highest levels since their September 2008 plunge during the bankruptcy of Lehman Brothers.<br />
<br />
Investors pushed stocks higher as they digested the Fed's plans, announced Wednesday, to purchase an additional $600 billion of longer-term Treasury securities by June in a second round of quantitative easing, dubbed QE2.<br />
<br />
<b>Treasurys:</b><br />
Treasurys rose as investors rode the euphoric wave of the Federal Reserve's government-bond buying plan. At the peak of the buying, the five-year note's yield hit a record low and the two-year note's yield touched an all-time trough. "The Fed is the key driver which keeps the party train moving forward," said James Combias, head of U.S. Treasury trading at Mizuho Securities USA.<br />
<br />
<b>Forex:</b><br />
Investors bolted from the dollar, believing the Federal Reserve's bond-buying plan can hurt the greenback now--and later. Investors instead sought out other currencies with higher yields, benefiting the euro, sterling and commodity-based currencies. <br />
<br />
<br />
© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved. </div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-45719288064062773982010-11-04T06:26:00.000-07:002010-11-21T16:57:40.042-08:00Stock Market Update - Thursday, November 4, 2010 - Choppy Uptrend<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Thursday, November 4, 2010</span></div><br />
<span style="font-family: Georgia,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines: </span><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">USA EQUITY INDEXES: (NOV. 4, 4:05 PM EDT)</span></b></i><br />
<div style="text-align: left;"></div><span style="font-family: Arial,Helvetica,sans-serif;">Dow Jones 11,434.77 <b><span style="color: #38761d;">+219.64</span></b><br />
S&P 500 1,221 <b><span style="color: #38761d;">+23.08</span></b><br />
Nasdaq 2,577.34 <b><span style="color: #38761d;">+37.07</span></b></span><br />
<br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">Dow Jones 1:30 PM Averages: DJIA 11,405.36 UP 190.23</span></b></i><br />
<span style="font-family: Arial,Helvetica,sans-serif;">30 INDUS 11,405.36 UP 190.23 OR 1.70%</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">20 TRANSP 4,930.83 UP 69.02 OR 1.42%</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">15 UTILS 408.15 UP 2.99 OR 0.74%</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">65 STOCKS 3,964.29 UP 56.33 OR 1.44%</span><br />
<b><span style="font-family: Arial,Helvetica,sans-serif;"><i>NYSE Stock Transactions 2:00PM EDT</i></span></b><br />
<div style="font-family: Arial,Helvetica,sans-serif;">NYSE Composite 7743.29 UP 134.88<br />
NYSE World Ldrs 5468.30 UP 98.57<br />
NYSE US 100 5384.66 UP 80.89<br />
International 100 5375.00 UP 117.49<br />
NYSE TMT 5791.58 UP 63.56<br />
Financial 4888.11 UP 89.34<br />
Energy 11793.44 UP 299.34<br />
Health Care 6524.98 UP 29.01</div><br />
<i><span style="font-family: Arial,Helvetica,sans-serif;"><b>US DOLLAR FUTURES INDEX DXY: NOV. 4,</b> </span></i><small><span style="font-size: small;"><b style="font-family: Arial,Helvetica,sans-serif;"><span id="yfs_t10_dx-y.nyb">1:40 PM EDT</span></b></span>: </small><big><b><span id="yfs_l10_dx-y.nyb">75.92</span></b></big> <span class="yfi_quote_price" id="yfs_c10_dx-y.nyb"><img alt="Down" border="0" height="14" src="http://l.yimg.com/a/i/us/fi/03rd/down_r.gif" width="10" /><span style="color: red;"> </span><b class=" yfi-price-change-down
" style="color: red;">0.56</b></span><span style="color: red;"> </span><span class="yfi_quote_price" id="yfs_p20_dx-y.nyb" style="color: red;"><b class=" yfi-price-change-down
"> (0.74%</b></span><span class="yfi_quote_price" id="yfs_p20_dx-y.nyb" style="color: red;"><b class=" yfi-price-change-down
">)</b></span><span style="color: red;"> </span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><i><b>US COMMODITY PRICES: (NOV. 4, 4:05 PM EDT)</b></i></div><span style="font-family: Arial,Helvetica,sans-serif;">Crude Oil 86.71 + 0.25%<br />
Natural Gas 3.88 + 0.49%<br />
Gasoline 2.18 -<br />
Heating Oil 2.38 -<br />
Gold 1392.48 + 3.23%<br />
Silver 26.22 + 5.51%<br />
Copper 3.89 + 3.04%<br />
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</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US Dollar Drops, Commodities and Stocks to Rise</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">U.S. stocks rallied sharply higher Thursday despite a bigger-than-expected rise in jobless claims, as investors reacted positively to the Federal Reserve's latest efforts to prop up the sagging economy.<br />
<br />
The Dow Jones Industrial Average gained more than 200 points, the Standard & Poor's 500-share index rose to 1217, led by the materials, energy and consumer discretionary sectors. The technology-heavy Nasdaq Composite gained to 2578<br />
<br />
As the US Dollar fell, futures rallied before the the opening bell with US job loss in view. initial unemployment claims jumped by 20,000 to 457,000 in the week ended Oct. 30, the Labor Department said in its weekly report. </div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
US DOLLAR</div><div style="font-family: Arial,Helvetica,sans-serif;">The U.S. dollar extended its decline lower overnight in the wake of yesterday's Fed announcement. The U.S. Dollar Index has dropped 0.68% to 75.96, just above a fresh annual low for the index and broken support at 76.5, offering a short-term target of 74.5.<br />
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After falling overnight, the U.S. dollar stabilized, The euro was at $1.4110, after hitting a high around $1.4175 on Wednesday. Forex dealers are somewhat hesitant to add to sizable bets against the dollar after the euro touched a 10-month high. However, the EURUSD may extend its gains as the pair now looks to test 1.45 in the near term .</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The Dow and S&P are slated for new gains. Weekly initial jobless claims, slated for release early this morning, may be the only hurdle for the Dow to break some records today.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">EQUITIES:</div><div style="font-family: Arial,Helvetica,sans-serif;">In earnings news, Sirius XM Radio Inc. (SIRI) said that it swung to a third-quarter profit of $67.6 million, or a penny per share, compared with a loss of $151.5 million, or 4 cents per share, in the year-ago period. Revenue rose to $717.5 million from $618.7 million. Analysts were looking for breakeven earnings on revenue of $719.1 million.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">Whole Foods Market Inc. (WFMI) reported fiscal fourth-quarter net income rose 58% to $57.5 million, or 33 cents per share. Analysts had expected the grocer to earn 28 cents. Sales rose 15% to $2.1 billion.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;">QUALCOMM Inc. (QCOM) reported a fiscal fourth-quarter profit of $865 million, or 53 cents per share, compared with a profit of $803 million, or 48 cents per share, for the year-earlier period. Revenue was $2.95 billion, up from $2.69 billion. Adjusted income was 68 cents per share. Analysts had expected the company report earnings of 59 cents per share, on revenue of $2.85 billion.<br />
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On the earnings front, DIRECTV (DTV), Frontier Oil Corp. (FTO), Fuel Systems Solutions Inc. (FSYS), Liz Claiborne Inc. (LIZ), PG&E Corp. (PCG), Suncor Energy Inc. (SU), Time Warner Cable Inc. (TWC), Activision Blizzard Inc. (ATVI), bebe stores inc. (BEBE), Blue Nile Inc. (NILE), CF Industries Holdings Inc. (CF), Crocs Inc. (CROX), Isis Pharmaceuticals Inc. (ISIS), Kraft Foods Inc. (KFT), SandRidge Energy Inc. (SD), and Starbucks Corp. (SBUX) will release their quarterly reports today.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">CRUDE OIL:</span><br />
<i><b>U.S. Crude Oil: $86.35 per barrel</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>OIL FUTURES: Nymex Crude Settles $1.80 Higher At $86.49/Bbl</b></i><br />
Crude prices were poised for a fourth day of gains.<br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">OPEC Secretary General $90 a Barrel OK</span></span> <br />
An oil price of $90 a barrel wouldn't hinder global economic growth, the top official in the Organization of Petroleum Exporting Countries said Thursday, echoing similar statements by the group's largest producer Saudi Arabia. <br />
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Speaking to reporters on the sidelines of a presentation of the organization's annual outlook report, OPEC Secretary General Abdalla Salem El-Badri said "$90 [a barrel] won't hinder growth," adding he doesn't expect prices to reach $100 a barrel next year<br />
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OPEC boosted its global-oil demand forecast in the medium term, after seeing a faster than expected economic turn around this year.. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NATURAL GAS:</span></div><i><b>US GAS: Futures Drop On 67 BCF Storage Injection</b></i> </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
Natural gas is now at $3.85 and declining. The ETF: UNG is holding at $5.44 .<br />
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</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">PRECIOUS METALS:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">US Gold: $1,375</div><div style="font-family: Arial,Helvetica,sans-serif;">US Silver: $ 25.51</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. BONDS:</span></div><span style="font-family: Arial,Helvetica,sans-serif;">3 Month 0.10% 0.00 (0.00%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">6 Month 0.14% 0.00 (0.00%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">2 Year 0.32% 0.00 (0.00%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">5 Year 1.03% -0.02 (-1.90%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">10 Year 2.49% -0.02 (-0.80%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">30 Year 4.03% -0.01 (-0.25%)</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. TREASURY:</span> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The 2-yr yield is unchanged at 0.32%, the 10-yr yield is down 9 bps to 2.48%, and the 30-yr yield is unchanged at 4.03%. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">FANNIE, FREDDIE OVERHAUL COULD COST $685B</span></div><span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;">The total cost to rescue and then overhaul mortgage giants Fannie Mae and Freddie Mac could reach $685 billion, according to estimates published by Standard & Poor's.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">AMERICAN'S LOSE 457,000 MORE JOBS</span><br />
<i><b>Jobless Benefit Applications Rise Sharply</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The number of people seeking jobless benefits jumped sharply last week.The Labor Department said Thursday that initial claims for unemployment aid rose by 20,000 to a seasonally adjusted 457,000 for the week ending Oct. 30. After two straight weeks of declines. US non-farm productivity rises 1.9% percent in the 3rd quarter. US non-farm productivity rose faster than expected in the third quarter and unit labor costs declined moderately.<br />
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According to a recently released Federal Reserve report, Americans experienced a $1.5 trillion loss in combined household net worth in the second quarter of 2010.<br />
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The Census Bureau says that 43.6 million Americans are now living in poverty and according to them that is the highest number of poor Americans in 51 years of record-keeping. <br />
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According to the U.S. Department of Agriculture, on a year-over-year basis, household participation in the food stamp program has increased 20.28%. The number of Americans on food stamps surpassed 41,000,000 million for the first time ever in June. the number of<br />
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Americans on food stamps had set a new all-time record for 19 consecutive months.One out of every six Americans is now being served by at least one government anti-poverty program.</div><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">RETAILERS SEE MIXED RESULTS FOR OCTOBER</span><br />
Retailers turn in mixed sales for October, as consumers complete back-to-school buying and take a breather ahead of holiday buying. Some standout results reflect growing popularity of some retailers' offerings.</div><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</span><br />
<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">Canadian Market:</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CANADIAN STOCKS HIGHER</span></div><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Material lead the Toronto Stock Exchange to its highest level in the year.</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
The stock market was sharply higher at midday Thursday, led by gains in energy and materials in response to the latest effort by the U.S. Federal Reserve to boost the U.S.'s sluggish economy. <br />
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At 11:45 a.m. EDT, the S&P/TSX Composite Index was up 235.36 points, or 1.86%, at 12906.48 and advances led declines 1110 to 384. Trading volume was 330.70 million shares. The S&P/TSX 60 Index was up 13.92 points, or 1.92%, to 740.01 points. <br />
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Potash Corp. of Saskatchewan fell 3.6% after the Canadian government rejected BHP Billiton's $38.6 billion hostile bid for it, but gave the Anglo-Australian miner another 30 days to try to convince the government of its case.<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;">Employment Seen Higher </span></span></div><div style="font-family: Arial,Helvetica,sans-serif;">The employment index for October was at 51.7, indicating employment was higher than in the previous month.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Inventories Decline </span></span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b><span style="font-family: Arial,Helvetica,sans-serif;">The Canada Ivey Purchasing Managers Index At 56.7</span></b></i><i><b> The inventories index was at 46.4 in October, indicating inventories were lower than in September.</b></i></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The Ivey Purchasing Managers Index was at 56.7 in October, indicating that purchasing activity in Canada expanded from September. <br />
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The Ivey PMI is compiled by the Purchasing Management Association of Canada and the Richard Ivey School of Business and measures changes in dollars of purchases as indicated by a panel of 175 purchasing managers from across Canada. It includes the manufacturing and nonmanufacturing sectors, and isn't seasonally adjusted.An index greater than 50 indicates an expansion of purchasing activity, while an index below 50 indicates a decline</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The prices index was at 63.8 in October, indicating prices were higher. <br />
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The supplier deliveries index was at 50 in October, indicating deliveries were flat.. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">POTASH DEAL BLOCKED </span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The Canadian government surprised markets late yesterday by blocking BHP Billiton's $39 billion bid for Potash Corp.</span><br />
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</div><b><span style="font-family: Arial,Helvetica,sans-serif;">Toronto Indexes, Volume; 11 AM EDT Composite Up 240.25</span></b><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"></span><span style="font-family: Arial,Helvetica,sans-serif;"> S&P/TSX Composite 12910.57 up 240.25 or 1.9%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> S&P/TSX 60 Index 740.14 up 14.05 or 1.9%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Financials 181.84 up 2.67 or 1.5%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Materials 415.39 up 9.00 or 2.2%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Energy 302.42 up 10.38 or 3.6%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> Industrials 107.46 up 0.63 or 0.6%</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> IT 29.55 up 0.31 or 1.1%</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> Volume</span><span style="font-family: Arial,Helvetica,sans-serif;"> Thursday Wednesday</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> 10-11 126.7M 82.2M</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> 9:30-11 251.8M 151.2M</span><span style="font-family: Arial,Helvetica,sans-serif;"><b></b></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</span><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">South American Markets:</span></div><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">BRAZIL:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Brazil Stocks Index Tops 73,000</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Brazil's benchmark Ibovespa stocks index rose above 73,000 points in mid-afternoon trading Thursday, hitting that mark for the first time since May 2008. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">As of 1:30EDTt/1720 GMT, the index was trading at 73,065 points for a 1.6% gain on the day</span>.<br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Mexican Markets Continue Rally</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The stock market's IPC index of leading issues was up 1.2% at 36,261 points around 10:30 a.m. EDT. Volume was 51 million shares worth 1.29 billion pesos ($106 million). Bellwether America Movil L shares were up 1.6% to MXN36.11, and cement maker Cemex CPO shares were 3.1% higher at MXN11.62. <br />
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The peso was stronger against the dollar, quoted in Mexico City at MXN12.2270, compared with MXN12.2510 at Wednesday's close.pending news.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The yield on the government's benchmark 10-year bond was down five basis points to 6.06%..</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</span><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European Markets:</span></div><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">European shares to six-month high. Euro breaks higher.</span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><i><b>ECB Holds Rates at 1.00%</b></i><br />
As widely expected, the European Central Bank kept their key overnight lending rate unchanged at the record low of 1.00 percent for the 18th consecutive month. The decision comes on the back of weak inflationary pressures and tough austerity measures that will be implemented in the coming months, and will add downward pressure onto growth. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</span><br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Asian Pacific Markets:</span></div><br />
<div style="font-family: Arial,Helvetica,sans-serif;">Asian stocks rose to their highest levels since June 2008<br />
The MSCI index of Asia Pacific shares outside Japan edged up 0.8 percent.</div><div style="font-family: Arial,Helvetica,sans-serif;">(pending news)</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">CHINA: </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">JAPAN:</span></div><br />
<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Japan's Nikkei share average was up 1.9 percent.</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Japanese equities rose 2 percent, led the region after fears of a much stronger yen, and the commodity and technology sectors surged as the dollar declined.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD FOREX CURRENCIES SNAPSHOT:</span><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">(WEDNESDAY, NOV 4, 2010 1:00 PM EDT)</span></b></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">EUR/USD 1.4224 +0.0100 (0.71%)<br />
USD/JPY 80.6100 -0.4800 (-0.59%)<br />
GBP/USD 1.6281 +0.0181 (1.12%)<br />
CAD/USD 0.9977 +0.0073 (0.74%)<br />
USD/HKD 7.7505 -0.0003 (0.00%)<br />
USD/CNY 6.6610 -0.0148 (-0.22%)<br />
AUD/USD 1.0142 +0.0094 (0.94%)</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">(WEDNESDAY, NOV 4, 2010 1:00 PM EDT)</span></b></i><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Shanghai 3,086.94 +55.95 (1.85%)<br />
Nikkei 225 9,358.78 +198.80 (2.17%)<br />
Hang Seng Index 24,535.63 +390.96 (1.62%)<br />
TSEC 8,357.85 +63.95 (0.77%)<br />
FTSE 100 5,862.79 +113.82 (1.98%)<br />
DJ EURO STOXX 50 2,884.21 +53.78 (1.90%)<br />
CAC 40 3,916.78 +73.84 (1.92%)<br />
S&P TSX 12,899.07 +227.95 (1.80%)<br />
S&P/ASX 200 4,745.30 +22.70 (0.48%)<br />
BSE Sensex 20,893.57 +427.83 (2.09%)</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">____________________________________________________________</span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">THURSDAY'S U.S. ECONOMIC CALENDAR:</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">8:30 a.m.<br />
3Q Preliminary Productivity & Costs Non-Farm Productivity (expected +1.5%), Unit Labor Costs (expected +0.3%)<br />
<br />
8:30 a.m.<br />
Oct 30 Unemployment Insurance Claims Report - Initial Claims Weekly Jobless Claims (expected 445K), Net Change (expected +11K), (prior week) (previous 4356000), Net Chg (prior week) (previous -122K)<br />
<br />
10:00 a.m.<br />
Oct 23 DJ-BTMU Business Barometer (previous +0.1%), (52 Wk) (previous +4%)<br />
<br />
10:30 a.m.<br />
Oct 30 EIA Natural Gas Storage Report Total Working Gas in Storage (previous 3754B), Total Working Gas in Storage (Net Change) (previous +71B)<br />
<br />
11:00 a.m.<br />
Oct Global Services PMI<br />
<br />
4:30 p.m.<br />
Nov 3 Foreign Central Bank Holdings Foreign US Debt Holdings (previous 3.3T), US Foreign Agency Holdings (previous 730.7B), Foreign Treasury Holdings (previous 2.57T)<br />
<br />
4:30 p.m.<br />
Nov 3 Federal Discount Window Borrowings Primary Credit Borrowings (previous 47M), Primary Credit Borrowings W/E Daily Avg (previous 24M), Discount Window Borrowings (previous 47.56B), Discount Window Borrowings W/E Daily Avg (previous 47.84B)<br />
<br />
4:30 p.m.<br />
Money Stock Measures </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;">US STOCK MARKET SUMMARY, WEDNESDAY, NOV. 3, 2010:</span></span><br />
<br />
Stocks:<br />
<br />
U.S. stocks rose after a volatile session to close higher. The Federal Reserve announced it would buy $600 billion in longer-term securities by the middle of next year, as part of its latest effort to prime the domestic economy. Keith Springer, president of Capital Financial Advisory Services, said the Fed delivered "the bare minimum" of what the market would accept.<br />
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Treasurys:<br />
<br />
The 30-year Treasury bond tumbled as it wasn't favored in the U.S. Federal Reserve's government-debt buying program aimed to support the economy. The benchmark 10-year note also reversed a rally that occurred before the Fed's latest interest-rate policy statement. The five-year note was the best performer, holding on to gains as the Fed signaled in a release that the bulk of the program's purchases in coming months will concentrate on this sector.<br />
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Forex:<br />
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The dollar fell broadly, but soon recovered most of its losses against major competitors in the wake of the Federal Reserve decision. The dollar dropped sharply against the euro immediately after the statement, but managed to emerge only modestly lower against the common currency after investors had a chance to digest the full Fed statement. The implied Volatility (1wk) on USD-based Majors: EUR (16.54%); GBP (13.08); JPY (14.36); CHF (15.89); CAD (13.38); AUD (17.43); NZD (16.22).<br />
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© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-64206535117645508062010-11-03T06:12:00.000-07:002010-11-21T16:58:34.800-08:00Stock Market Update - Wednesday, Nov. 3, 2010 - Mixed Outlook<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Stock Market Update</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-small;">Wednesday, Nov. 3, 2010</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div class="separator" style="clear: both; text-align: center;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines:</span><br />
<div style="text-align: left;"></div><br />
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<i><b>USA EQUITY INDEXES: (NOV. 3, 4:10 PM EDT)</b></i><br />
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Dow Jones 11,215.13 <span style="color: #38761d;">+26.41 (+0.24%)</span><br />
S&P 500 1,197.96 <span style="color: #38761d;">+4.39 (+0.37%)</span><br />
Nasdaq 2,540.27 <span style="color: #38761d;">+6.75 (+0.27%)</span><br />
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<i><b></b></i><br />
<i><b></b></i><br />
<i><b>Dow Jones 2:30 PM Averages: DJIA 11,127.04 DN 61.68</b></i><br />
30 INDUS 11,127.04 DN 61.68 OR 0.55%<br />
20 TRANSP 4,802.47 DN 16.15 OR 0.34%<br />
15 UTILS 402.24 DN 4.41 OR 1.08%<br />
65 STOCKS 3,872.04 DN 23.10 OR 0.59%<br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>US DOLLAR FUTURES INDEX DXY: NOV. 3,</b></i><small><span id="yfs_t10_dx-y.nyb"> </span></small><small><span style="font-size: small;"><b><span id="yfs_t10_dx-y.nyb">4:47 PM EDT</span>:</b></span> </small><big><b><span id="yfs_l10_dx-y.nyb">76.36</span></b></big> <span class="yfi_quote_price" id="yfs_c10_dx-y.nyb"><img alt="Down" border="0" height="14" src="http://l.yimg.com/a/i/us/fi/03rd/down_r.gif" width="10" /><span style="color: red;"> </span><b class=" yfi-price-change-down
" style="color: red;">0.36</b></span><span style="color: red;"> </span><span class="yfi_quote_price" id="yfs_p20_dx-y.nyb" style="color: red;"><b class=" yfi-price-change-down
"> (0.47%</b></span><b style="color: red;"><span class="yfi_quote_price" id="yfs_p20_dx-y.nyb"><span class="yfi-price-change-down">)</span></span></b><br />
<i><b>US COMMODITY PRICES: (NOV. 3, 4:50 PM EDT)</b></i><br />
Crude Oil 85.08 + 0.46%<br />
Natural Gas 3.84 - 0.83%<br />
Gasoline 2.14 -<br />
Heating Oil 2.33 + 0.25%<br />
Gold 1348.09 - 0.69%<br />
Silver 24.85 - 0.36%<br />
Copper 3.79 - 1.23%</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="text-align: left;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span class="focusParagraph"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. Dollar Drops - Stocks Gain Mixed</span> <br />
US Stocks ended its volatile session higher. </span></span><br />
<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span class="focusParagraph">After the FOMC'S announcement the dollar declined and equities rapidly advance, within 10 minutes stocks declined against the US Dollar's rally. The volatility index VIX declined to 19.57 by 3:15 p.m. indicating a positive close ahead. </span></span><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span class="focusParagraph">U.S. stock index futures extended meager gains on Wednesday morning after data showed U.S. private employers added more jobs in October than economists forecast. </span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The dollar moved higher Wednesday hours before the Federal Reserve is expected to announce a big bond-buying program to support the weak US economy.</span><span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span class="focusParagraph"><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span class="focusParagraph"><b><span style="color: red;">A Policy Announcement from the FOMC:</span></b></span></span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;"><span style="font-size: large;">FOMC: Fed Funds To Stay Exceptionally Low For Extended Period </span></span><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">Progress On Inflation Has Been Disappointingly Slow</span></b></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Federal Reserve Wednesday unveiled a controversial new plan to buy $600 billion in U.S. Treasurys through June, hoping to spur growth in a disappointingly slow U.S. economy. <br />
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After two days of discussions, Fed officials decided to go ahead with a much-anticipated program, saying they stand ready to purchase more government debt if the economy's persistent weakness leads prices to remain too low and unemployment too high. <br />
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The Fed's first $1.75 trillion bond-buying program, which ran from December 2008 to March, is credited with helping the economy when the U.S. was hit by a financial crisis and a deep recession. The latest move is more controversial because the economy is now growing -- albeit slowly -- and financial markets are no longer under severe stress. <br />
<br />
By buying government bonds, the Fed aims to keep long-term interest rates low, hoping it will lead consumers to spend and companies to invest more, thus helping to propel the economy forward. Short-term interest rates were slashed close to zero in December 2008, so the Fed no longer has its traditional weapon to boost the economy. <br />
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The Fed said it expects to buy between $850 billion to $950 billion in Treasurys through the end of the second quarter of 2011.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Information received since the Federal Open Market Committee met in September confirms that the pace of recovery in output and employment continues to be slow. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Business spending on equipment and software is rising, though less rapidly than earlier in the year, while investment in nonresidential structures continues to be weak. Employers remain reluctant to add to payrolls. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Housing starts continue to be depressed. Longer-term inflation expectations have remained stable, but measures of underlying inflation have trended lower in recent quarters. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. Currently, the unemployment rate is elevated, and measures of underlying inflation are somewhat low, relative to levels that the Committee judges to be consistent, over the longer run, with its dual mandate.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Although the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability, progress toward its objectives has been disappointingly slow. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to expand its holdings of securities. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Committee will maintain its existing policy of reinvesting principal payments from its securities holdings. In addition, the Committee intends to purchase a further $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month.. </span><i><b><span style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Fed To Buy $600B US Treasurys In Bid To Lift Weak Economy</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Federal Reserve Wednesday unveiled a controversial new plan to buy U.S. Treasurys, hoping to spur growth in a disappointingly slow U.S. economy. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> After two days of discussions, Fed officials decided to go ahead with a much anticipated program, saying they will buy $600 billion of U.S. government debt over the next eight months. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Fed's policy-setting body said it stands ready to purchase more bonds if the economy's persistent weakness leads inflation to remain too low and unemployment too high. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Fed's first $1.75 trillion bond-buying program, which ran from Dec. 2008 to March 2010, is credited with helping the economy when the U.S. was hit by a financial crisis and a deep recession. The latest move is more controversial because the economy is now growing -- albeit slowly -- and financial markets are no longer under severe stress. </span><br />
<br />
<span style="font-family: Arial,Helvetica,sans-serif;">By buying government bonds, the Fed aims to keep long-term interest rates low, hoping it will lead consumers to spend and companies to invest more, thus helping to propel the economy forward. Short-term interest rates were slashed close to zero in Dec. 2008, so the Fed no longer has its traditional weapon to boost the economy. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Fed said it expects to buy between $850 billion to $950 billion Treasurys through the end of the second quarter of 2010. That's because in addition to the $600 billion, the Fed expects to buy about $35 billion a month to replace mortgage bonds in its portfolio that are being retired, a decision that was taken back in August. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Fed will "continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary" to support the recovery. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Fed officials said the economic recovery that started in June 2009 and hit a stumbling block last summer continues to be slow. Consumer spending, while increasing gradually, continues to be constrained by a high unemployment rate. Inflation is likely to "remain subdued for some time." </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Some 16 months after the recession officially ended, the unemployment rate is stuck close to 10% and prices remain very low as companies struggle to lure buyers. An underlying measure of inflation that's closely watched by the central bank rose just 1.2% in the year through September, the lowest level in nine years and below the Fed's informal goal of around 2.0%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">With unemployment seen staying too high and inflation too low for a long time, Fed officials stuck to their pledge to keep short-term interest rates at a record low for an "extended period." Financial markets see no chance of an increase in the rate banks charge each other for overnight loans for all of next year. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Central bank officials also gave their updated forecasts for the U.S. economy. While those will only be made public when the minutes of the FOMC meeting are released Nov. 24, they are certain to paint a worse picture compared to previous projections made in June, when the economy was seen expanding by almost 4.0% at the end of 2011 and unemployment falling to around 8.5%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The economy grew at an annual rate of just 2.0% in the third quarter, after climbing 1.7% in the second quarter, levels that are too weak to bring unemployment down any time soon. The jobs report, due Friday, is expected to show that unemployment remained at 9.6% in October. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Economists inside and outside the Fed have warned the move could be ineffective because interest rates are already so low. Some say it could backfire, sparking new asset bubbles or higher inflation in the next few years. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Showing there's even dissent within the central bank, Kansas City Fed President Thomas Hoenig voted against the policy action, saying the risks outweigh the benefits. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Opposition to the bond purchases could grow in 2011. Three of five regional Fed bank president who will get to vote next year have raised doubts about the plan's potential to further help the economy: Dallas Fed President Richard Fisher, Minneapolis Fed President Narayana Kocherlakota and Philadelphia Fed President Charles Plosser.</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">THE US DOLLAR AND EURO AT TIPPING POINT</span><br />
<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span class="focusParagraph">The Euro pared the overnight decline to reach a high of 1.4058, and the exchange rate held steady until the US Fed's announcement. The Euro is now at 1.41 and climbing </span></span><span class="secondary-box-teaser" style="font-family: Arial,Helvetica,sans-serif;">The Bank of England is anticipated to maintain its current policy in November, and the rate decision could spark a bullish reaction in the British Pound. </span><span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span class="focusParagraph"> </span></span><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span class="focusParagraph">The dollar was flat against other major currencies in overnight and early morning trading. After the US market opened, the dollar rose in a constrained pattern within its support and resistance areas until the FOMC announcement. At that time it rallied and declined in a volatile manner down to its support of 76.22. At market close, the Implied Volatility was (1wk) on USD-based Majors: EUR (16.54%); GBP (13.08); JPY (14.36); CHF (15.89); CAD (13.38); AUD (17.43); NZD (16.22). </span></span><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span class="focusParagraph"></span></span><br />
<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">In early morning trading the Dow Jones Industrial Average gained eight points to 11197 in early trading, while the Standard & Poor's 500-stock index gained less than one point to 1194 and the Nasdaq Composite edged down two points to 2532. S&P 500 futures rose 1.6 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 18 points and Nasdaq 100 futures added 2 points.</span><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">Deep concern persists about the economy, and worries about high unemployment and deflationary risks will almost certainly drive the Federal Reserve to undertake a fresh round of stimulus when its policy meeting ends later Wednesday.</span><br />
<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif; font-size: large;">EQUITY REPORTS:</span><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">Qwest Communications International rose 0.6% after recording a third-quarter loss, though the company issued an optimistic revenue forecast and notched up a rise in adjusted profit that topped analysts' estimates. CenturyLink, which agreed to buy Qwest, edged up 0.2% ahead of its earnings report later in the day. <br />
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Garmin plunged 6.1% after the digital navigation device maker reported a 30% increase in earnings, though that number missed expectations and came amid weaker sales and margins. <br />
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CVS Caremark slipped 0.9% after the company reined in its full-year profit forecast, though the drugstore chain met earnings expectations. <br />
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MGM Resorts International gained 1.5% as the company's third-quarter loss narrowed amid sharply lower write-downs related to its struggling Las Vegas City Center complex. <br />
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Time Warner shed 0.4% after its earnings fell 21%, as the media giant took a hit related to debt redemptions, though adjusted earnings rose and handily topped analysts' estimates as revenue increased. The company also increased its profit target. <br />
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Aetna slipped 1.1% after earnings rose 53% as investment gains and lower medical costs offset continued declines in employer-based membership. <br />
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Wellpoint traded flat after third-quarter profit rose 1.2% following prior-year write-downs as claims costs rose, contrasting with a trend seen in much of the health-insurance industry this year. <br />
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U.S.-traded shares of French bank Societe Generale surged 4.1% after the French lender said its third-quarter net profit doubled due to lower bad loan provisions and growth in international retail banking.</span><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">GENERAL MOTORS ISSUES IPO</span></span></span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><b><span style="font-size: small;"><i>General Motors Company Commences $13 Billion Dollar Public Offering</i> </span></b></div><div style="font-family: Arial,Helvetica,sans-serif;"><i>The estimated price range for the offering of common stock is $26.00 to $29.00 per share</i><span style="font-size: small;"> </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">General Motors Company (GM) announced </span><span style="font-size: small;">today</span><span style="font-size: small;"> it has commenced a public offering.</span> The offering will consist of 365 million shares of common stock to be sold by certain of its stockholders. The company will also issue 60 million shares of its Series B mandatory convertible junior preferred stock with a liquidation amount of $50 per share.<br />
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The public offering will reduce the U.S. and Canadian governments’ stakes in the largest U.S. car maker who will operate in a tax free environment up to $50 billion dollars. GM is working toward returning the $50 billion GM received in a taxpayer bailout last year. <br />
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For the U.S. to break even it needs to sell at an average price, before splits, of $131 a share, a person familiar with the matter said in September. The company had earnings before interest and taxes of $2.2 billion to $2.4 billion on revenue of about $34 billion for the three months that ended Sept. 30, 2010. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US FACTORY ORDERS, SERVICE SECTOR EXPAND</span> </span><br />
<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><i><b>MINOR GAIN SEEN </b></i></span><br />
<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">U.S. manufactured-goods orders increase by a better-than-expected 2.1% to $420.02 billion. ISM's index of service-sector activity for October moves to a reading of 54.3, and private-sector jobs in the U.S. rise by 43,000 last month.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">AUTO MAKERS REPORT JUMPS IN NEW VEHICLE SALES</span><br />
Several major auto makers report significant jumps in new-vehicle sales in October amid stronger buying by American consumers. Ford, Honda and Nissan each report sales increases of more than 15%, while Chrysler says its sales of cars and light trucks climbed 37%.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">US FACTORY ORDERS UP ON TRANSPORT SECTOR</span><br />
<i><b>MINOR GAIN SEEN </b></i></span><br />
<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">U.S. manufactured goods orders rise by 2.1% to $420.02 billion in September, the Commerce Department says. Economists surveyed by Dow Jones Newswires had expected overall factory orders would rise 1.6%. </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MGM FILES FOR CHAPTER 11</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Studio files for Chapter 11 bankruptcy protection, after cutting a deal with creditors that would forgive about $4 billion in debt and put it in the hands of Spyglass Entertainment co-founders Gary Barber and Roger Birnbaum.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TIME WARNER PROFIT FALLS 21%</span><br />
Media and entertainment giant posts 3Q profit of $522 million, or 46c a share, after taking a big charge from redeeming debt, but adjusted earnings top estimates. Revenue rises 2% to $6.38 billion. Company raises 2010 profit-growth target. Shares down 2%. </span><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span id="articleText" style="font-size: x-large;">CRUDE OIL:</span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;"><i><b><span id="articleText">U.S. Crude Oil: $ 85.08 per barrel </span></b></i></span></div><span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><i><b>OIL FUTURES: Nymex Crude Settles Up 79c At $84.69/Bbl </b></i></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Oil prices settled higher Wednesday, hitting a fresh six-month high as the Federal Reserve's widely anticipated decision to stimulate the economy followed a bigger-than-expected decline in U.S. fuel inventories. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> Light, sweet crude oil for December delivery settled up 79 cents, or 0.9%, at $84.69 a barrel on the New York Mercantile Exchange. The contract is up 4% for the week after rising as high as $85.36 a barrel earlier in the session. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Brent crude oil on the ICE futures exchange settled 97 cents higher at $86.38 a barrel.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span id="articleText" style="font-size: x-large;">Oil Holds Minor Gain - Fuel Inventories Decline</span></div><span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">DOE: US Refineries Ran At 81.8% Vs 83.7% Week Ago </span><br />
<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">DOE: US Distillate Stocks -3.568 Mln Bbl At 164.874 Mln Bbl</span><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">Crude futures went negative after surging to a six-month high of $85.36 a barrel following a U.S. Department of Energy report showing a 2-million-barrel fall in gasoline stockpiles and a 3.6-million-barrel decline in distillates, which include heating oil and diesel.</span><span style="font-family: Arial,Helvetica,sans-serif;"> <span style="font-family: Arial,Helvetica,sans-serif;">Cr</span></span><span style="font-family: Arial,Helvetica,sans-serif;">ude inventories climbed 2 million barrels.</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">Light, sweet crude for December delivery was recently up 29 cents, or 0.4%, at $84.19 a barrel. The contract earlier fell to $83.57 on the New York Mercantile Exchange. Brent crude on the ICE futures exchange gained 36 cents, or 0.4%, at $85.77 a barrel.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Front-month December reformulated gasoline blend-stock, or RBOB, recently traded up 1.25 cents, or 0.6%, to $2.1221 a gallon. December heating oil gained 2.09 cents, or 0.9%, to 2.3145 a gallon. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NATURAL GAS:</span></div><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><i><b>US GAS: Futures Settle Down 3.4 Cents At $3.836/MMBtu </b></i></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The U.S. Energy Information Administration is expected to report that 67 billion cubic feet of gas were added to storage during the week ended Oct. 29, according to the average prediction of 17 analysts and traders in a Dow Jones Newswires survey. <br />
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The EIA is scheduled to release its storage data Thursday at 10:30 a.m. EDT (1430 GMT).</span><br />
<div style="font-family: Arial,Helvetica,sans-serif;"><a href="http://tonto.eia.doe.gov/oog/info/ngs/ngs.html">http://tonto.eia.doe.gov/oog/info/ngs/ngs.html</a></div><span style="font-family: Arial,Helvetica,sans-serif;"><br />
</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span id="articleText" style="font-size: x-large;">PRECIOUS METALS:</span></div><span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">US Gold: $ 1,333.</span><br />
<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">US Silver: $ 24.17</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Gold futures traded near steady Wednesday as a little-changed dollar and anticipation of the Federal Open Market Committee meeting later Wednesday dominated the market. The most actively traded contract, for December delivery, was recently up 0.02%, or 60 cents, at $1,357.50 per troy ounce on the Comex division of the New York Mercantile Exchange.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>Settlements (Ranges include Floor and Electronic trading):</b><br />
London PM Gold Fix: $1,345.50; previous PM $1,351.00<br />
Dec gold $1,337.80, down $19.30; Range $1,327.10-$1,364.80<br />
Dec silver $24.436, down 43.6 cents; Range $23.935-$25.040<br />
Jan platinum $1,627.00, down $21.9; Range $1,691.7-$1,723.10<br />
Dec palladium $642.70, down $2.75; Range $631.10-$647.20 </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">U.S. TREASURYS:</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Treasurys gained in morning trades, pushing the yield on the benchmark 10-year note to 2.552%.The U.S. Treasury Department plans to hold auction sizes fairly steady as it sells $72 billion in debt next week to refund maturing securities. <br />
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The Treasury has in recent months been trimming auctions, lowering its borrowing capacity by $328 billion. But economic uncertainty has the Treasury focused on holding auction sizes steady this quarter to give it flexibility to adapt to changes in the U.S. fiscal situation.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">On Monday, the Treasury estimated it would borrow $362 billion from October to December and $431 billion from January to March. First quarter borrowing traditionally spikes.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Cusip numbers for the issues to be sold next week are:<br />
3-year note: 912828PU8.<br />
10-year note: 912828PC8.<br />
30-year bond: 912810QL5. </span><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">U.S. BONDS: </span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">3 Month 0.10% 0.00 (0.00%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">6 Month 0.15% +0.01 (7.14%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">2 Year 0.33% -0.01 (-2.94%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">5 Year 1.11% -0.03 (-2.63%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">10 Year 2.57% +0.01 (0.39%)</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">30 Year 4.04% +0.14 (3.59%)</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span id="articleText" style="font-size: x-large;">US SERVICE SECTOR MINOR GAIN</span></div><span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">The Institute for Supply Management reported that its overall index of service sector activity for October moved to a reading of 54.3, from 53.2 in September. It had been expected to stand at 53.5. Numbers above 50 indicate growth and describe the breadth of the change, but not the magnitude. <br />
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The ISM also said that its business activity/production index for the non-manufacturing sector moved to 58.4, from 52.8, while its new orders index hit 56.7, from 54.9.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span id="articleText"> </span></div><div style="font-family: Arial,Helvetica,sans-serif;">The ISM said in the report that hiring was stable, with the employment index coming in at 50.9, from 50.2. Meanwhile, service sector inflationary pressures jumped, with the prices index coming in at 68.3, after September's 60.1.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The non-manufacturing report is made up mostly of service sector activities, which comprise the majority of total U.S. economic output. The non-manufacturing sector's continued forward momentum is a positive for the economy, as was the continued rise in factory activity reported by the ISM on Monday. </div><span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"></span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">HOUSING - FREDDIE MAC IN TROUBLE</span></span><br />
<div style="font-family: Arial,Helvetica,sans-serif;">Freddie Mac reported a third-quarter net loss of $2.5 billion and asked the US Treasury to provide a $100 million infusion. The government-held mortgage bank reported a smaller loss than last quarter amid a still troubled housing market. </div><span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"></span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">PRIVATE EMPLOYMENT MIXED </span><br />
<span id="midArticle_1"></span> Private employers added 43,000 jobs in October compared with a revised loss of 2,000 jobs in September, according to a report by a payrolls processor.</span><br />
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<span id="articleText" style="font-family: Arial,Helvetica,sans-serif;">The employment report from Automatic Data Processing on Wednesday morning showed private-sector employment increasing by 43,000, topping consensus estimates of a 22,000-job gain. The estimated change in employment for September was revised to a smaller drop of 2,000 instead of a decline of 39,000 first reported. Even so, ADP said the employment market remains "frustratingly stagnant." </span><br />
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<span id="Purecontent1_NewsArticleContent"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">HOUSING MARKET - REPORT</span></span></span><br />
<i><b><span id="Purecontent1_NewsArticleContent" style="font-family: Arial,Helvetica,sans-serif;">Mortgage Purchase Applications Increase, while Refinance Applications Decline in Latest MBA Weekly Survey</span></b></i><span id="articleText" style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 29, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 5.3 percent compared with the previous week.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">The Refinance Index decreased 6.4 percent from the previous week. This is the third straight week the Refinance Index has decreased. The seasonally adjusted Purchase Index increased 1.4 percent from one week earlier. The unadjusted Purchase Index increased 0.2 percent compared with the previous week and was 28.0 percent lower than the same week one year ago.<br />
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The four week moving average for the seasonally adjusted Market Index is up 0.1 percent. The four week moving average is down 2.7 percent for the seasonally adjusted Purchase Index, while this average is up 0.8 percent for the Refinance Index.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The refinance share of mortgage activity decreased to 81.3 percent of total applications from 82.3 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 5.4 percent from 5.3 percent of total applications from the previous week.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">The average contract interest rate for 30-year fixed-rate mortgages increased to 4.28 percent from 4.25 percent, with points increasing to 1.07 from 1.00 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The effective rate also increased from last week. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.64 percent from 3.67 percent, with points increasing to 1.08 from 0.96 (including the origination fee) for 80 percent LTV loans. The effective rate remained unchanged from last week. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">If you would like to purchase a subscription of MBA’s Weekly Applications Survey, please contact MBA Research at (202) 557-2830 or <a href="mailto:mbaresearch@mortgagebankers.org">mbaresearch@mortgagebankers.org</a> or click <a href="http://store.mortgagebankers.org/ProductDetail.aspx?product_code=EC6-300045-RW-I">here</a>. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">The survey covers over 50 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.</div><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Canadian Stocks Decline In Light Trading</span><br />
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Toronto stocks decline in early trading. Declines were lead in the materials sector as theUS dollar gained on the precious metals and oils. The stock market was lower at midday Wednesday, dragged down by widespread weakness led by declines in gold and other resource stocks. <br />
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At 11:45 a.m. EDT, the S&P/TSX Composite Index was down 73.74 points, or 0.58%, at 12607.68 and declines led advances 785 to 570. Trading volume was 211.70 million shares. The S&P/TSX 60 Index was down 5.20 points, or 0.71%, to 722.26 points. . <br />
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Canadian small businesses reported a minor gain in confidence in the recent report issued this morning. Small business confidence rebounded after four consecutive declines to the highest level since May the Canadian Federation of Independent Business said its Business Barometer Index rose to 66.9 in October from 63.6 in September. <br />
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While that's still a "modest" reading compared with pre-recession levels, "it suggests a firming up of business owners' expectations," CFIB vice-president and chief economist Ted Mallett said in a report. "Not many small-and mid-sized enterprises (SMEs) are expecting high growth in the coming year, but even fewer are expecting significant declines." <br />
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The index typically ranges between 65 and 75 when the economy is growing. <br />
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"Taking into account the new readings, optimism appears to book-end the country, with higher-than-average levels in the far west and the Atlantic regions. Business owners in Manitoba and Prince Edward Island are the least optimistic," the report said. <br />
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Website: <a href="http://www.cfib.ca/">http://www.cfib.ca</a> <br />
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<span style="font-size: large;"><b>Toronto Indexes: 3:PM EDT Composite Down 4.79</b></span><br />
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S&P/TSX Composite 12676.63 off 4.79 or 0.0%<br />
S&P/TSX 60 Index 726.40 off 1.06 or 0.1%<br />
Financials 179.06 off 0.69 or 0.4%<br />
Materials 407.44 off 0.81 or 0.2%<br />
Energy 291.72 up 0.20 or 0.1%<br />
Industrials 106.97 off 0.60 or 0.6%<br />
IT 29.20 off 0.10 or 0.3%<br />
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<span style="font-size: small;"><b>Volume Wednesday Tuesday</b></span><br />
2-3 76.6M 46.6M<br />
9:30-3 406.8M 336.9M<br />
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<b>Toronto Most Actives At 3:15 PM EDT</b><br />
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Eastern Platinum 13,668,046 1.83 up 0.02<br />
Taseko Mines 13,132,242 4.83 off 1.72<br />
Denison Mines 11,664,814 2.63 up 0.29<br />
iShares Cdn S&P/TSX 60 7.096,862 18.26 off 0.01<br />
Uranium One 6,800,204 4.62 up 0.15<br />
Horizons NYMEX Natural Gas Bull 5,949,436 2.92 off 0.06<br />
Eldorado Gold 5,540,388 18.71 up 0.62<br />
Manulife Financial 5,492,576 12.87 up 0.25<br />
Horizons NYMEX Crude Oil Bull 4,978,404 7.02 up 0.15<br />
Crocodile Gold 4,809,607 1.40 off 0.09 <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">Quebec 3-Month T-Bill Average Yield Rises To 0.957%</span></div>Average yield on a C$175 million (US$173 million) auction of 91-day province of Quebec treasury bills was 0.957%, up from 0.945% at the previous auction of 91-day bills held Oct. 27. Average price was 99.762 versus 99.765. The bills mature Feb. 4, 2011. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">South American Markets:</span></div><br />
<span style="font-size: x-large;">BRAZIL:</span><br />
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Brazil Stocks Open Higher<br />
Brazilian stocks opened higher Wednesday. The benchmark Ibovespa stock index opened at 72,097 points, up 0.75% from Monday's close of 71,560. Markets were closed Tuesday for a holiday in Brazil. <br />
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Petroleo Brasileiro SA (PBR, PETR4.BR), Brazil's state-controlled oil company, jumped 1.82% to 26.83 Brazilian reais ($15.82). OGX Petroleo e Gas Participacoes SA (OGXP3.BR), the oil company controlled by Brazilian billionaire Eike Batista, gained 1% to BRL23.<br />
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<i><b>Most Brazilian Blue Chips Gained in early trading. </b></i><br />
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Vale SA (VALE5.BR, VALE), the world's biggest iron-ore producer which, along with Petrobras, has the biggest weight on the index, rose 0.3% to BRL 48.47. MMX Mineracao e Metalicos SA (MMXM3.BR), the iron-ore producer also controlled by Batista, advanced 0.2% to BRL13.80. <br />
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Telephone giant Tele Norte Leste Participacoes SA (TNE, TNLP4.BR), or Oi, slipped 2% to BRL25.92, extending Wednesday's 11% decline. <br />
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Leading steel producer CSN (SID, CSNA3.BR) rose 1.85% to BRL28.70. <br />
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Rival Usiminas fell 0.2% to BRL21.46. <br />
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Minas Gerais utility Cemig (CIG, CMIG4.BR) was little changed, slipping 0.03% to BRL30.03. <br />
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Aircraft manufacturer Empresa Brasileira de Aeronautica (ERJ, EMBR3.BR), or Embraer, gained 1.71% to BRL12.50.<br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Government Ready To Ensure Currency Isn't Overvalued</span> </div><br />
Brazil's government is ready to take further steps necessary to ensure the Brazilian currency isn't overvalued, President Luiz Inacio Lula da Silva told reporters Wednesday. <br />
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Lula, as he's commonly called, spoke at the presidential palace, accompanied by President-elect Dilma Rousseff, his hand-picked successor. <br />
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Lula said the two will travel to the Group of 20 heads of state meeting in South Korea Nov. 11-12 to "fight" for Brazil's corner in the ongoing "currency war." <br />
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Lula has been Rousseff's mentor in government and was key to her election. But the incumbent said Rousseff would have to shape her own government, and would have to negotiate with all parties in Congress.<br />
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<span style="font-size: x-large;">CHILE:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Chile Stocks Rise Above 5,000 Points To New Intraday High</span><br />
<i><b>Chile September Economic Activity Seen Surging</b></i><br />
Chile's blue-chip Ipsa index rose sharply early Wednesday, breaking the 5,000 point-barrier to a record intraday high, as shares rose on strong corporate earnings. <br />
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In recent trading the Ipsa gained 0.8% to 5026.97, while market volume was still at a slim 18.5 billion Chilean pesos ($38.0 million), compared to volume of CLP96.38 billion the previous session. <br />
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Robust domestic demand and surging investments, which have fueled Chile's quick recovery from last year's recession -- its first in a decade-- and February's devastating earthquake, have also buttressed consumer-related companies. <br />
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"So far this [third quarter earnings] season we're seeing strong corporate results, which are mostly in line with market expectations and confirm the positive moment that Chile and its companies are living," said Rodrigo Mujica, analyst with local brokerage BCI Corridor de Bolsa. <br />
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Among gainers, fuel and forestry conglomerate Copec (COPEC.SN), which is the Ipsa's heaviest weighted shares, gained 2.7% to CLP9,780.00, energy holding company Enersis (ENERSIS.SN) rose 1.3% to CLP234.50, and department store La Polar (LAPOLAR.SN) increased 1.2% to CLP3,605.00.<br />
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Despite a four-day holiday weekend, which some expect to curb growth, most economists estimate Chile's economic activity surged robustly on the year in September. <br />
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Economic activity for September, as measured by the central bank's Imacec monthly activity index, likely grew 6.2% on the year, according to the median estimate of 11 analysts polled by Dow Jones Newswires. Estimates ranged from gains of 5.0% to 7%. <br />
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The central bank will publish the Imacec, which is considered a proxy for the country's gross domestic product because it encompasses 90% of the GDP's components, at 1230 GMT Friday. <br />
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<span style="font-size: large;">Antofagasta 3Q Copper Output +4.1% On Quarter; Costs Rise As Moly Declines</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Chilean miner Antofagasta PLC (ANTO.LN) Wednesday reported a 4.1% rise in third-quarter copper production compared with the second quarter and said costs rose, partly due to a decrease in molybdenum by-product credits.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: x-large;">MEXICO:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">Mexico's Stocks Open Higher</span></div><div style="font-family: Arial,Helvetica,sans-serif;">Mexico's stocks continued breaking new ground at the opening Wednesday. The stock market's IPC index of leading issues was up 0.7% at 35,959 points around 10:25 a.m. EDT, after setting a new intraday high of 35,998.</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">Mexico's peso was also stronger against the U.S. dollar, quoted in Mexico City at MXN12.2790 compared with MXN12.3450 at the close Monday. The rate had moved below MXN12.30 Tuesday in international trading.<br />
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<span style="font-size: x-large;">COLOMBIA: </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Colombia's Foreign Debt Climbs To 21.1% Of GDP In July</span><br />
Colombia's foreign debt, measured in relation to economic output, inched higher in July from a year earlier, fueled by an increase in private-sector bond sales. <br />
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Colombia's total foreign debt, including the government and the private sector, stood in July at 21.1% of gross domestic product, the central bank said Wednesday. The figure marks a slight increase from the same month a year earlier, when it stood at 20.8% of GDP. <br />
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The country's total foreign debt increased despite a decline in public sector debt, which dropped to 13.3% of GDP from 14.3% a year earlier. Private sector foreign debt, meanwhile, climbed to 7.8% of GDP from 6.5% in July 2009. <br />
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The country's total foreign debt in July came in at $60.54 billion, a 24.7% increase from a year earlier. The government's foreign debt was $38.1 billion, a 14% jump from a year earlier. <br />
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The country's debt measured in relation to GDP, however, only moved slightly higher thanks to faster economic growth. After posting a tepid 0.8% economic expansion last year, the country grew 4.5% in the second quarter of the year. <br />
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Finance Minister Juan Carlos Echeverry has said that the economy could grow between 5% and 6% this year. <br />
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The government has already tapped its limits for foreign debt sales this year, but could issue bonds to finance its 2011 budget. <br />
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Colombian bonds have benefited from an improved domestic economic outlook and the possibility that they may soon be granted investment-grade status by credit-rating agencies. <br />
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President Juan Manuel Santos is pushing a legislative package through Congress that could rein in the country's fiscal deficit, one of the main hurdles for Colombia to obtain the coveted investment-grade status that was lost a decade earlier. <br />
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The central government deficit, which excludes state-owned companies and local governments, is expected to close the year at 4.4% of economic output. For 2011, the government estimates it will drop to 4.1%. The Santos administration has said that one of its main policy goals is to reduce the central government's deficit to 1.5% in four years. <br />
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<span style="font-size: x-large;">VENEZUELA:</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Venezuela Resumes Putting Oil Money Into Social Fund</span><br />
<i><b>Venezuela Finance Minister Sees 2011 GDP Growth Above 2%</b></i><br />
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Amid rising oil prices and a growing economy, Venezuela is once again setting aside a portion of its income from oil sales for the Fonden development fund, an off-budget social spending vehicle favored by President Hugo Chavez. <br />
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Rafael Ramirez, president of state oil firm Petroleos de Venezuela SA, or PDVSA, said Wednesday that with Venezuelan oil prices sticking above $70 a barrel, the so-called Fonden tax has been re-imposed on all oil sales, which he said adds to a fixed amount PDVSA already provides to social projects. <br />
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The social projects include providing low-cost housing and discounted food at socialist-style supermarkets. <br />
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In 2009, officials indicated that extra funds were siphoned to Fonden whenever oil prices rose above $60 a barrel. It wasn't immediately clear whether the government has officially raised the minimum level to $70 a barrel. <br />
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In its earnings report for the first half of 2010, PDVSA said that during first six months it set aside $4.46 billion in the form of social spending, after devoting $386 million in the same period last year. <br />
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Between 2001 and 2010 PDVSA has contributed a total of $69 billion toward social projects, Ramirez said. <br />
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Some analysts have criticized the heavy social spending by PDVSA, saying it should instead use a portion of the funds on oil investment projects and new technology that could boost production and increase PDVSA's overall earnings. <br />
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PDVSA reported a net profit of $2.7 billion in the first half, a 14.4% decline from the same period last year. <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Markets:</span></div><div style="font-family: Arial,Helvetica,sans-serif;">European stocks declined.The Stoxx Europe 600 index fell 0.4% to finish at 266.51.. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
<span style="font-size: x-large;">LONDON: </span><br />
FTSE 100 5748.97 -8.46 -0.15%<br />
FTSE 250 10876.28 -51.22 -0.47%<br />
DJ UK Smaller Companies 906.53 -3.88 -0.43% <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">London Stocks Close Lower</span> <br />
FTSE 100 closes lower, giving up the day's gains which were made following strong UK PMI services data and upbeat 3Q earnings from the likes of Admiral Group.Admiral Group shares close +2.7%.<br />
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<i>Thursday's agenda includes the BOE policy announcement at 1200 GMT.</i><br />
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<span style="font-size: x-large;">GERMANY:</span><br />
The DAX 30 index dropped 0.6% to end at 6,617.80 after rallying to a fresh 2010 closing high in the previous session.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BMW AG Declined 1.4%</span><br />
BMW's shares have surged 64% over the past 12 months, so investors saw the earnings release as an opportunity to take profits. BMW's third-quarter net profit soared to EUR874 million from EUR78 million in the same period a year ago. The firm also increased its earnings forecast for the current financial year. <br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">UK To Audit Google</span></div><i><b>'Significant Breach' Of Law </b></i><br />
<br />
U.K. officials Wednesday ruled that Google Inc. (GOOG) broke the law by collecting data from wireless networks for its Street View mapping service, reflecting growing scrutiny in Europe of the U.S. Internet company's privacy practices.<i> </i><br />
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<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">UK October Services Sector Expanded 53.2 PMI Versus 52.8 In September </span></div><br />
The U.K.'s dominant services sector expanded at a faster pace in October than September, boosted by higher levels of new business and activity, data showed Wednesday.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK INFLATION RAISE SEEN</span><br />
<i><b>Shop Prices Rise Faster In October On Higher Commodity Prices-BRC </b></i><br />
<br />
U.K. shop price inflation accelerated in October even though retailers didn't pass on the full impact of increases in food prices, a survey shows Wednesday.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WSJ: Santander UK Head To Become Lloyds Banking CEO </span><br />
Antonio Horta-Osorio, a Portuguese native who guided Santander SA's (SANTANA.SN) expansion into the U.K. banking market, will take the top job at London rival Lloyds Banking Group PLC (LLOY.LN, LYG), Lloyds and Santander said Wednesday.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">UK October Services 53.2 PMI Versus 52.8 In Sept </span><br />
The U.K.'s dominant services sector expanded at a faster pace in October than September, boosted by higher levels of new business and activity, data showed Wednesday.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Cobham PLC Fell 9.5%</span> <br />
Aerospace and defense group Cobham PLC tumbled 9.5% after the company said it is continuing to experience delays and deferrals in the award of some U.S. defense and security contracts.<br />
<br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Next PLC Declined 2.2%</span> <br />
Retailer Next PLC fell 2.2% after its trading update disappointed investors and as Numis downgraded the stock to hold from buy, citing expectations for tougher competition in the sector. <br />
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<span style="font-size: x-large;">GREECE:</span><br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Greece Halts Foreign Mail Delivery</span></div></div><div style="font-family: Arial,Helvetica,sans-serif;">has suspended international airmail for 48 hours after more than a dozen suspicious packages were sent to targets in Greece and across Europe.<br />
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<span style="font-size: x-large;">FRANCE:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Societe Generale rose 1.9%. </span><br />
The French bank said third-quarter net profit more than doubled to 896 million euros, beating market expectations, as revenue rose 5.5%. The bank also offered shareholders some reassurance that it wouldn't ask them for more money to comply with new capital rules.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Asian Pacific Markets:</span> </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Some Asian Markets are closed due to a Holiday .</b></i><br />
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<span style="font-size: x-large;">JAPAN:</span><i><b> </b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;">Mitsubishi UFJ In Talks To Buy RBS Project Finance Assets</span><br />
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In a move that would significantly ramp up its global presence, Mitsubishi UFJ Financial Group, Japan's largest bank, is in talks with the Royal Bank of Scotland Group to buy its project-financing business for about 4 billion pounds, according to people familiar with the matter.<br />
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<span style="font-size: x-large;">CHINA:</span><br />
Hong Kong's Hang Seng index broke the 24,000 mark to trade at its highest level since mid-2008, led by banks.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">China Finds 100 Tons Gold Deposit In Inner Mongolia</span> <br />
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A gold deposit with proven reserves of at least 100 metric tons has been found in Inner Mongolia, the state-controlled Xinhua News Agency reported Wednesday.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">WORLD FOREX CURRENCIES SNAPSHOT:</span></span><br />
<i><b>(WEDNESDAY, NOV 3, 2010 4:30 PM EDT)</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">EUR/USD 1.4104 +0.0075 (0.53%)<br />
USD/JPY 81.2900 +0.6200 (0.77%)<br />
GBP/USD 1.6110 +0.0078 (0.49%)<br />
CAD/USD 0.9941 +0.0029 (0.29%)<br />
USD/HKD 7.7513 -0.0002 (0.00%)<br />
USD/CNY 6.6758 -0.0017 (-0.03%)<br />
AUD/USD 1.0002 +0.0016 (0.16%)<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">WORLD MARKETS SNAPSHOT:</span><br />
<i><b>(WEDNESDAY, NOV 3, 2010 4:30 PM EDT)</b></i></div><div style="font-family: Arial,Helvetica,sans-serif;">Shanghai 3,030.99 -14.45 (-0.47%)<br />
Nikkei 225 9,159.98 +5.26 (0.06%)<br />
Hang Seng Index 24,144.67 +473.25 (2.00%)<br />
TSEC 8,293.90 -50.86 (-0.61%)<br />
FTSE 100 5,748.97 -8.46 (-0.15%)<br />
DJ EURO STOXX 50 2,830.43 -30.58 (-1.07%)<br />
CAC 40 3,842.94 -22.78 (-0.59%)<br />
S&P TSX 12,671.12 -10.30 (-0.08%)<br />
S&P/ASX 200 4,722.60 +21.20 (0.45%)<br />
BSE Sensex 20,465.74 +120.05 (0.59%) <br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MONDAY'S U.S. ECONOMIC CALENDAR:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;">7:30 a.m.<br />
Oct Challenger Job-Cut Report<br />
<br />
8:15 a.m.<br />
Oct ADP National Employment Report Private Payrolls Forecast (expected +22000)<br />
<br />
9:00 a.m.<br />
U.S. Department of the Treasury's quarterly refunding announcement<br />
<br />
10:00 a.m.<br />
Sept. Manufacturers' Shipments, Inventories & Orders (M3) Total Orders (expected +1.6%), Orders, Ex-Defense (previous -0.5%), Orders, Ex-Transportation (previous +0.9%), Durable Goods 1st Est (previous -1.3%), Durable Goods Revised (previous -1.5%)<br />
<br />
10:00 a.m.<br />
Oct ISM Non-Manufacturing Report Non-Manufacturing PMI (expected 53.5), Non-Manufacturng Business Index (previous 52.8), Prices Index (previous 60.1), Employment Index (previous 50.2), New Orders Index (previous 54.9)<br />
<br />
10:30 a.m.<br />
Oct 30 EIA Petroleum Status Report Crude Oil Stocks (previous 366.21M), Crude Oil Stocks (Net Change) (expected +1.2M), Gasoline Stocks (previous 214.94M), (Net Change) (expected +200K), Distillate Stocks (previous 168.44M), (Net Change) (expected -800K), Refinery Usage (expected 84%)<br />
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<div style="color: red;"><b>2:15 p.m.</b></div>Nov <b>FOMC</b> interest rate decision Federal Funds Rate (Dir) (previous 0), Discount Rate (previous 0.75), Discount Rate Change (previous 0), FOMC Vote For Action (previous 8), FOMC Vote Against Action (previous 1), Federal Funds Rate Change High Range (previous 0.25), Federal Funds Rate Change Low Range (previous 0)<br />
<br />
N/A<br />
Oct Domestic Auto Industry Sales<br />
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<span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;">US STOCK MARKET SUMMARY, TUESDAY, NOV. 2, 2010:</span></span></div><div style="font-family: Arial,Helvetica,sans-serif;">Stocks:<br />
<br />
U.S. stocks rose broadly as investors awaited the results of U.S. midterm elections. Stocks rose Tuesday as investors moved into riskier assets following a steep drop in the dollar, putting the Dow Jones industrial average near its highest point this year.<br />
<br />
The Dow Jones industrial average rose more than 70 points in afternoon trading. The Dow has come close to ending above its high this year of 11,205 four times in the past two weeks. The S&P 500 is up 9, or 0.8 percent, at 1,194, while the Nasdaq composite is up 29, or 1.1 percent, at 2,534. The Russell 2000, the index that tracks smaller companies, rose 2 percent.<br />
<br />
A two-day Federal Reserve meeting expected to yield more economic stimulus Wednesday. The energy sector led the broad climb as crude-oil futures rose to nearly $84 a barrel. "This is the culmination of these past few months' excitement about the election, third-quarter earnings and the Fed," said Bruce Bittles, chief investment strategist at Robert W. Baird.<br />
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Treasurys:<br />
<br />
Treasurys maturing in the next five to 30 years rose Tuesday as investors who believe the Federal Reserve will launch another large scale bond-buying program Wednesday loaded up on U.S. government notes and bonds. Five-to-10-year Treasurys have been seen as the likely target of any quantitative easing by the Federal Open Market Committee, which began its highly anticipated two-day meeting Tuesday and will release its announcement Wednesday.<br />
<br />
Forex:<br />
<br />
The dollar was broadly lower after a surprise Australian interest rate increase sent investors scrambling into risk-sensitive currencies. "RBA kicked some people in the rear and got them going today," Brian Kim, currency strategist at UBS in Stamford, Conn., said Tuesday.<br />
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</div><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0tag:blogger.com,1999:blog-11562244.post-49824585329166069942010-11-02T06:15:00.000-07:002010-12-06T17:57:53.725-08:00Stock Market Update - Tuesday, Nov. 2, 2010 - Mixed Outlook - Minor Gains Expected<span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
<span style="font-size: x-small;"><span style="font-family: Arial,Helvetica,sans-serif;">Stock Market Update</span></span><br />
<span style="font-size: x-small;"><span style="font-family: Arial,Helvetica,sans-serif;">Tuesday, Nov. 2, 2010</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">Latest US Economic News Headlines:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
<div style="text-align: left;"></div><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">USA EQUITY INDEXES: (NOV. 2, 4:05 PM EDT)</span></b></i><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Dow Jones 11,188.72 +<span style="color: #38761d;">64.10 (+0.58%)</span><br />
S&P 500 1,193.57 <span style="color: #38761d;">+9.19 (+0.78%)</span><br />
Nasdaq 2,533.52 <span style="color: #38761d;">+28.68 (+1.14%)</span> </span><br />
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<br />
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<i><b><span style="font-family: Arial,Helvetica,sans-serif;">Dow Jones 2:30 PM Averages: DJIA 11,204.39 UP 79.77</span></b></i><br />
<span style="font-family: Arial,Helvetica,sans-serif;"> 30 INDUS 11,204.39 UP 79.77 OR 0.72%<br />
20 TRANSP 4,814.15 UP 57.23 OR 1.20%<br />
15 UTILS 407.03 UP 5.28 OR 1.31%<br />
65 STOCKS 3,897.54 UP 37.43 OR 0.97%</span><br />
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<i><b><span style="font-family: Arial,Helvetica,sans-serif;">US DOLLAR FUTURES INDEX DXY: NOV. 2, </span></b></i><small><b><span style="font-size: small;"><span id="yfs_t10_dx-y.nyb" style="font-family: Arial,Helvetica,sans-serif;">4:06PM EDT</span><span style="font-family: Arial,Helvetica,sans-serif;">:</span></span></b> </small><big><b><span id="yfs_l10_dx-y.nyb">76.73</span></b></big> <span class="yfi_quote_price" id="yfs_c10_dx-y.nyb"><img alt="Down" border="0" height="14" src="http://l.yimg.com/a/i/us/fi/03rd/down_r.gif" width="10" /> <b class=" yfi-price-change-down
" style="color: red;">0.57</b></span><span style="color: red;"> </span><span class="yfi_quote_price" id="yfs_p20_dx-y.nyb" style="color: red;"><b class=" yfi-price-change-down
"> (0.74%</b></span><span style="color: red; font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><i><b>)</b></i></span></span><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">US COMMODITY PRICES: (NOV. 2, 4:05 PM EDT)</span></b></i><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Crude Oil 83.92 + 1.17%<br />
Natural Gas 3.88 + 0.28%<br />
Gasoline 2.11 -<br />
Heating Oil 2.29 -<br />
Gold 1356.36 + 0.30%<br />
Silver 24.88 + 0.97%<br />
Copper 3.82 + 1.01%<br />
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<div style="text-align: left;"></div><div class="separator" style="clear: both; text-align: center;"><a href="http://chart.finance.yahoo.com/t?s=DX-Y.NYB&lang=en-US&region=US&width=300&height=180" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"></a></div><i><b><span style="font-family: Arial,Helvetica,sans-serif;"></span></b></i><span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
<br />
<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">.<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">U.S. Stocks Extend Gains, Dollar Drops Ahead of Midterm Election Outcome</span></span> <br />
</span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">Stocks rose Tuesday as investors moved into riskier assets following a steep drop in the dollar, putting the Dow Jones industrial average near its highest point this year.<br />
<br />
The Dow Jones industrial average rose more than 70 points in afternoon trading. The Dow has come close to ending above its high this year of 11,205 four times in the past two weeks.<br />
<br />
The Dow Jones industrial average is up 64, or 0.6 percent, to 11,189. The S&P 500 is up 9, or 0.8 percent, at 1,194, while the Nasdaq composite is up 29, or 1.1 percent, at 2,534.</span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"></span></span></span><br />
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<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">Small companies are up significantly. The Russell 2000, the index that tracks smaller companies, rose 2 percent.</span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"> <br />
Three stocks rose for every one that fell on the New York Stock Exchange, where trading volume came to 913 million shares.<br />
</span></span></span><br />
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<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">As market participants speculate the Federal Open Market Committee to expand monetary policy further in November, the interest rate decision could trigger a selloff in the U.S. dollar as the central bank is likely to maintain a cautious outlook for the world’s largest economy.<br />
<br />
The Federal Open Market Committee is widely expected to keep their benchmark interest rate unchanged at 0.25 percent as the recovery continues to face major hurdles.<br />
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The USD/CAD is looking to make another run at parity as the Canadian-dollar continues to find support as risk appetite remains firm ahead of expected Fed stimulus. </span></span></span><span style="font-family: Arial,Helvetica,sans-serif;">The Australian dollar rose just above $1.00 as the country's economy and currency benefit from rising commodity prices.</span><span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"> Australia raised its core interest rate today. </span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"> </span></span></span><br />
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<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">At mid-day the Dow Jones Industrial Average gained 84 points, or 0.8% to 11,208. The S&P 500 added 9 points, or 0.8%, to 1193. The U.S. Dollar Index, which tracks the U.S. currency against a basket of others, slid 0.7%. The Nasdaq Composite rose 0.8% to 2524. The Standard & Poor's 500-share index climbed 0.7% to 1192.</span></span></span><br />
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<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">At 9:40 AM EDT the Dollar Index slides to new session low of 76.65, hovering near the Jan intraday low and Oct/2010 close low at 76.60/76.56.</span></span></span><br />
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<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">U.S.Stocks climb, boosted by a weaker dollar after Australia and India raised their interest rates, while voters head to the polls in elections expected to usher in a wave of Republicans. </span></span></span><br />
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<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"> </span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">Before the bell, futures on major U.S. indices pointed to a higher opening on Tuesday due to a lower dollar and ahead of mid-term election results and Fed meeting.<br />
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Futures on the S&P 500 are up 0.54 percent, futures on the Dow Jones Industrial Average are up 0.40 percent and Nasdaq100 futures are up 0.54 percent.<br />
<br />
Before the bell, the Dow Jones Industrial Average (DJIA) is headed for an opening gain of about 70 points, while the S&P 500 Index (SPX) is trading roughly 8.9 points above fair value. Despite a lack of economic news and uncertainty surrounding tomorrow's Federal Open Market Committee meeting.</span></span></span><br />
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<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"></span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"></span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"></span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">The central bank's policy-setting committee will begin its two-day meeting on Tuesday. A further round of quantitative easing, dubbed QE II, is widely expected to be announced on Wednesday.<br />
<br />
As no major economic data is due to be released on Tuesday investors will likely focus on the mid-term election results and the two-day meeting of the Fed which kicks off today.</span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"></span></span></span><br />
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<span style="font-size: large;"><span style="font-family: Arial,Helvetica,sans-serif;">ICSC/GOLDMAN SACHS CHAIN STORE SALES RISE 0.1%</span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">The increase--the second straight--came as the Halloween holiday provided a last-minute lift to sales. It's the first time the index has gained for two consecutive weeks since mid-July, as sales had been volatile in recent months.</span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br />
</span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">U.S. Home Ownership at Decade Low, 19 Million Vacant Homes</span></span><br />
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The U.S. home ownership rate was unchanged at a 10-year low in the third quarter as banks stepped up property seizures from borrowers who defaulted on mortgages.<br />
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The home ownership rate was 66.9 percent, matching the second-quarter level that was the lowest since 1999, the U.S. Census Bureau said in a report today. The homeowner vacancy rate, or the share of properties vacant and for sale, was unchanged at 2.5 percent, according to the report.<br />
<br />
Lenders are repossessing properties as borrowers fall behind in mortgage payments after the worst housing crash since the Great Depression. Banks seized a record 288,345 homes in the third quarter, up 22 percent from a year earlier, according to an Oct. 14 report from RealtyTrac Inc. in Irvine, California.<br />
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The home ownership rate fell from 67.6 percent in the third quarter of 2009. The rate reached a record high of 69.2 percent in the second and fourth quarters of 2004.<br />
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There were 18.8 million vacant homes in the third quarter, including foreclosures, residences for sale and vacation homes, down from 18.9 million in the second quarter, according to today’s Census report from Washington.<br />
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<i><b>19 Million Empty Properties</b></i><br />
<br />
Foreclosures are included in a part of the Census Bureau report that also includes vacation homes intended for year-round use and homes that are unoccupied because they are under renovation or tied up in legal proceedings. There were 3.6 million such properties empty in the third quarter, down from 3.7 million in the second quarter, the report said. A year earlier, the number was 3.4 million.<br />
<br />
Foreclosures could also be counted as vacant homes for sale or rent, or as owner-occupied properties if lenders have not yet evicted previous owners, the federal agency said.<br />
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There were 1.9 million empty properties on the market, down from 2 million in the second quarter, according to the report.<br />
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<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><br />
</span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;">EQUITIES:</span><br />
On the earnings front, Pfizer Inc. reported a 70 percent plunge in third quarter profit, as charges offset a 39 percent growth in revenue. However, on an adjusted basis, the company's profit per share beat analysts' expectations.</span></span></span><br />
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<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">Freeport-McMoRan Copper & Gold Inc., ExxonMobil Corp. and Alcoa Inc., all rose more than 1 percent. </span></span></span><br />
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<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">GM TO BE TAX FREE UP TO $50 BILLION </span></span></span></span></span><br />
<span style="font-size: x-large;"><span style="font-size: small;"><span style="font-family: Arial,Helvetica,sans-serif;">General Motors won't have to pay federal taxes on up to $50 billion in profit under an unusual provision of its government-funded bailout, giving the car maker an added boost as it prepares to return to the stock market..</span></span></span><br />
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<br />
<span style="font-size: x-large;">ADM PROFIT DOWN 30% ON INVENTORY VALUATION</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;"><i><b>ADM 1Q Profit Down 30% On Inventory Valuation</b></i></span></div></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-family: Arial,Helvetica,sans-serif;">Archer Daniels Midland Co. (ADM) on Tuesday reported a 30% drop in fiscal first-quarter profit as a drop in inventory valuation and derivative losses masked higher volumes and stronger-than-expected revenue growth. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The U.S. agribusiness group's transport and processing arms had been expected to benefit from a Russian ban on grain exports, but earnings fell 25% at its agricultural services segment, due to the "government actions" and Black Sea drought. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">For the quarter ended Sept. 30, ADM reported a profit of $345 million, or 54 cents a share, down from $496 million, or 77 cents a share, a year earlier. Revenue grew 13% to $16.8 billion.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">PFIZER PROFIT DOWN 70% ON CHARGES; BOOSTS YEAR VIEW</span></span> <br />
Drug maker's 3Q profit falls to $866 million, or 11c a share, after more than $2 billion in writedowns and charges related to asbestos litigation. Revenue jumps 39% to $16.17 billion, helped by the Wyeth acquisition. Company raises 2010 EPS view.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> <span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">BP'S PROFIT PLUNGES TO $1.8B ON SPILL CHARGES</span></span><br />
BP posts a 66.5% fall in net profit for 3Q as it took another $7.66 billion of charges related to the Gulf of Mexico oil spill. The charge includes the cost of the spill response, containment, relief well drilling, grants to states, claims paid and federal costs, BP says.<br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">MARATHON OIL PROFIT RISES 69%</span></span><br />
Oil producer and refiner's 3Q earnings rise 69% to $696 million, or 98c a share, as Marathon was the latest to benefit from a rebound in North America and stronger refining margins. Results beat analysts' expectations.<br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">KELLOGG PROFIT FALLS 6% AMID CEREAL WEAKNESS</span></span><br />
Maker of Rice Krispies, Pop-Tarts and Eggo waffles' 3Q profit drops more than expected to $338 million, or 90c a share, again hurt by weakness in some cereal markets and the lingering impact of a June cereal recall. Revenue dips 4% to $3.16 billion.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MASTERCARD PROFIT JUMPS 15% ON HIGHER SPENDING</span><br />
MasterCard's 3Q profit rises to $518 million, or $3.94 a share, topping Wall Street's expectations, as consumers and businesses spent more with the global economy continuing to improve. Shares up 2%.<br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">MEDCO NET UP 11% AS REVENUE RISES</span><br />
Medco Health Solutions' 3Q profit rises 11% to $371.5 million, or 85c a share, and adjusted results beat analysts' expectations as revenue increased on higher prescription volume. Shares up 3%. </span><br />
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</div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">CRUDE OIL:</span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>US Crude Oil: $ 84.13 per barrel</b></i><br />
<i><b> </b></i></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>OIL FUTURES: Nymex Crude Settles 95c Higher At $83.90/Bbl</b></i><br />
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</div><div style="font-family: Arial,Helvetica,sans-serif;"></div><div style="font-family: Arial,Helvetica,sans-serif;"><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;"><i><b>Crude-Oil Prices Climbed Over $84 a barrel</b></i></span></div><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">In early trading, NYMEX December crude futures rose 19 cents to $83.11 a barrel before leaping above $84 a barrel, after settling up $1.52 at $82.95 a day earlier. Oil futures rallied Tuesday for the third straight session, as the dollar weakened following an unexpected interest rate hike in Australia. </div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><span style="font-family: Arial,Helvetica,sans-serif;">U.S. crude futures extended gains, drawing support from comments by OPEC linchpin Saudi Arabia that consumers would tolerate oil prices as high as $90 a barrel. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">December light, sweet crude on the New York Mercantile Exchange rose 77 cents, or 0.9%, to $83.72. Brent crude on the ICE futures exchange in London gained 63 cents, or 0.7%, to $85.25</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><i><b>Gasoline/Petrol: </b></i></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Front-month December reformulated gasoline blend stock, or RBOB, is up 1.75 cents, or 2.6%, or 0.8% higher at $2.1104 a gallon. December heating oil gained 2.16 cents, or 1%, to $2.2993 a gallon.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">NATURAL GAS:</span></div><i style="font-family: Arial,Helvetica,sans-serif;"><b>US GAS: Futures Settle Up 3.8 Cents At $3.87/MMBtu</b></i><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">US Natural Gas Futures Rise</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Natural gas futures rose Tuesday, with cold weather providing a boost but high inventory levels limiting gains. Natural gas for December delivery recently traded 3.9 cents, or 1%, higher at $3.871 a million British thermal units on the New York Mercantile Exchange. <br />
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Gas futures have struggled to trade above $4/MMBtu as U.S. inventory levels are widely seen adding to the near-record 3.754 trillion cubic feet reached last week. Storage levels are unlikely to fall to normal levels until gas producers cut drilling operations.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><i>The government's next weekly inventory report is due out on Thursday</i>.. </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">PRECIOUS METALS:</span></div><span style="font-family: Arial,Helvetica,sans-serif;"> <i><b>US Gold:$ 1,358</b></i></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><i><b>US Silver: $ 24.88</b></i></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Gold ticked higher above $1,356 an ounce but investors were reluctant to make big bets ahead of the Federal Reserve's policy meeting, which could determine the fate of the dollar. However, Investors continued to buy gold ahead of the monetary-stimulus announcement, but gains were small on account of already historically high prices. <br />
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The most actively traded gold contract, for December delivery, rose $6.30, or 0.5%, to settle at $1,356.90 a troy ounce on the Comex division of the New York Mercantile Exchange. .</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Gold futures rose slightly as participants did some last minute buying ahead of expected Federal Reserve monetary stimulus. <br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>Settlements:</b> <i><b>(Price Ranges include Floor and Electronic Trading)</b></i><br />
London PM Gold Fix: $1,351.00; previous PM $1,354.50<br />
Dec gold $1,356.90, up $6.30; Range $1,350.20-$1,359.90<br />
Dec silver $24.836, up 28.4 cents; Range $24.615-$25.925<br />
Jan platinum $1,719.10, up $7.60; Range $1,709.80-$1,724.60<br />
Dec palladium $645.45, down $3.25; Range $642.50-$656.00 </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">BASE METALS: </span></div><div style="font-family: Times,"Times New Roman",serif;"><i><b><span style="font-size: large;">Weaker Dollar Lifts Copper</span></b></i></div><span style="font-family: Arial,Helvetica,sans-serif;">Comex copper futures forged higher Tuesday morning as investors sold the dollar in favor of commodities ahead of Wednesday's Federal Open Market Committee announcement. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The most actively traded contract, for December delivery, was recently up 1.2%, or 4.6 cents, at $3.8310 per pound on the Comex division of the New York Mercantile Exchange.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Copper inventories at London Metal Exchange approved warehouses fell 625 metric tons on Tuesday, to a total of 366,950 metric tons. Comex copper stocks on Monday afternoon, the most recently available data, were unchanged at 75,100 tons.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TREASURYS: </span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">U.S. Treasurys rallied as investors stocked up on securities in anticipation of another big bond-buying program from the U.S. Federal Reserve.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">U.S. Treasury debt prices gained on Tuesday in light volume as investors took advantage of a recent rise in yields and covered short positions heading into a two-day Federal Reserve meeting and mid-term congressional elections. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Demand for U.S. Treasurys was mixed in morning trading. The two-year note edged lower, while the 10-year note advanced, pushing its yield down to 2.59%.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">US BONDS:</span></div><i><b><span style="font-family: Arial,Helvetica,sans-serif;">(NOV. 2, 3:45 PM EDT)</span></b></i><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">3 Month 0.10% -0.01 (-9.09%)<br />
6 Month 0.14% 0.00 (0.00%)<br />
2 Year 0.34% 0.00 (0.00%)<br />
5 Year 1.15% +0.01 (0.88%)<br />
10 Year 2.59% -0.01 (-0.38%)<br />
30 Year 3.93% -0.04 (-1.01%)</span><br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">CEO'S DROP IN CONFIDENCE</span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">The CEO confidence index weakened to 86.3 in September from 89.2 a month </span><span style="font-family: Arial,Helvetica,sans-serif;">earlier, according to the Chief Executive Magazine.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Canadian Market:</span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Canada's industry minister denied media reports Tuesday that BHP Billiton Ltd.'s (BHP) $39 billion takeover bid for Potash Corp. of Saskatchewan (POT) has been approved by Industry Canada, pending a final decision by Canada's prime minister. The Canadian government will announce on Wednesday whether it has approved a hostile bid by BHP Billiton for Potash Corp, a source close to the bid told Reuters on Tuesday..</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TSX Higher<span style="font-size: small;"> </span></span></span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><i><b><span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;"><span style="font-size: small;">US Dollar Down Manufacturing data lifts commodity prices</span></span></b></i><br />
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Toronto's main stock index opened higher on Tuesday, backed by commodity prices that firmed ahead of an expected decision by the U.S. Federal Reserve to pump more money into the U.S. economy.<br />
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The Toronto stock market was modestly higher Tuesday as commodity prices found lift for a second day in the wake of strong manufacturing data in China and the United States.<br />
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The S&P/TSX composite index gained 23.7 points to 12,688.5 with investors cautious ahead of a much-anticipated U.S. Federal Reserve meeting that is expected to result in another round of major economic stimulus and the American midterm elections.<br />
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The TSX Venture Exchange climbed 4.31 points to 1,938.39.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">The base metals sector advanced about one per cent amid higher copper prices with the December contract on the Nymex ahead five cents to US$3.83 a pound. Equinox Minerals (TSX: <a href="http://ca.finance.yahoo.com/q?s=EQN.TO">EQN.TO</a>) was up 16 cents to $5.83 while Sherritt International (TSX: <a href="http://ca.finance.yahoo.com/q?s=S.TO">S.TO</a>) climbed 22 cents to $8.45.</div><div style="font-family: Arial,Helvetica,sans-serif;"><br />
</div><div style="font-family: Arial,Helvetica,sans-serif;">Financials were also positive with TD Bank (TSX: <a href="http://ca.finance.yahoo.com/q?s=TD.TO">TD.TO</a>) ahead 52 cents to $73.88.</div><div style="font-family: Arial,Helvetica,sans-serif;">Gold stocks were weak as the December bullion contract in New York rose $4.20 to US$1,354.80 an ounce. But Eldorado Gold (TSX: <a href="http://ca.finance.yahoo.com/q?s=ELD.TO">ELD.TO</a>) gained 11 cents to $17.94.</div><span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The weaker U.S. currency also helped push the December crude contract on the New York Mercantile Exchange 81 cents higher to US$83.76 a barrel. The energy sector gained 0.24 per cent and Canadian Natural Resources (TSX: </span><a href="http://ca.finance.yahoo.com/q?s=CNQ.TO" style="font-family: Arial,Helvetica,sans-serif;">CNQ.TO</a><span style="font-family: Arial,Helvetica,sans-serif;">) climbed 29 cents to $37.46.</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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The Canadian dollar also gained ground as the U.S. dollar lost strength ahead of Wednesday's Fed announcement, rising 0.68 of a cent to 99.10 cents US.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;">India's SpiceJet Order 30 Bombardier Q400s for US$900 million</span></span><br />
Indian discount airline SpiceJet has agreed to purchase up to 30 Q400s turboprops from Bombardier (TSX:BBD.B) for US$900 million.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;">Talisman Energy Inc. (TSX: <a href="http://ca.finance.yahoo.com/q?s=TLM.TO">TLM.TO</a>) reported net income in the third quarter of $121 million, a four-fold increase from $30 million a year earlier. For the first nine months of the year, Talisman reports net income of $952 million, up from $548 million in the same period last year. The Calgary-based oil and gas company says the increase is primarily due to increased commodity prices. Talisman shares added 46 cents to $18.90.<br />
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<b><span style="font-size: large;">Toronto Indexes, Volume; 2 PM EDT Composite Up 25.84</span></b><br />
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S&P/TSX Composite 12690.65 up 25.84 or 0.2%<br />
S&P/TSX 60 Index 728.39 up 1.50 or 0.2%<br />
Financials 178.65 up 0.07 or 0.0%<br />
Materials 409.41 up 1.91 or 0.5%<br />
Energy 291.34 up 2.35 or 0.8%<br />
Industrials 107.37 off 0.35 or 0.3%<br />
IT 29.20 off 0.10 or 0.3%<br />
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<b>Volume Tuesday Monday</b><br />
1-2 48.4M 53.6M<br />
9:30-2 290.3M 315.4M</div><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">South American Markets:</span></span> </span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">BRAZIL:</span></div><br />
<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BRAZIL'S ROUSSEFF WINS ELECTION CHARTS PLANS</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">A day after winning Brazil's presidential election, President Dilma Rousseff began the tricky task of assembling a government to carry out her mandate to continue a policy mix of market-friendly economics and generous social programs.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Radian Swings To 3Q Profit On $230M </span></div><div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Derivatives Gain</span></div><span style="font-family: Arial,Helvetica,sans-serif;"> Radian Group Inc. (RDN) swung to a third-quarter profit on a $230 million derivatives gain, while it also reported lower loss provisions. <br />
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Shares were recently up 15% to $8.60, climbing steadily for most of the session, as bottom-line results excluding the gain still topped expectations. The stock is up 18% so far this year, but traded above $60 in mid-2007. <br />
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The company, which covers potential lender losses on mortgages to borrowers who can't come up with a 20% down payment, has seen claims skyrocket during the housing crisis. Investors have been waiting for signs the claims are leveling off. <br />
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Delinquencies of loans carrying mortgage insurance from Radian have fallen in recent months, suggesting loan woes appear to have reached a peak. <br />
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Mortgage insurance claims were $494.2 million, up from $376.5 million a year earlier and from $337.3 million in the second quarter. The company now expects claims paid for all of 2010 to total about $1.7 billion, up from the prior view of $1.5 billion. <br />
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Radian posted a third-quarter profit of $112.2 million, or 84 cents a share, compared with a year-earlier loss of $70.5 million, or 86 cents. The latest results included a $1.12 a share in derivatives gains. Net premiums earned fell 2.6% to $203.9 million.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">CHILE:</span> </span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile Stocks Surge Into Record Territory</span></div><i><b><span style="font-family: Arial,Helvetica,sans-serif;">Chile Stocks End At 5th-Straight Record High</span></b></i><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Chile's blue-chip Ipsa index ended at a fifth consecutive record high Tuesday as the market awaits the outcome of the U.S. Federal Reserve's two-day monetary policy meeting. <br />
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The Ipsa ended 1.5% higher at 4986.74, while market volume fell to 96.38 billion Chilean pesos ($197.9 million), compared with CLP128.8 billion on Friday. All banks, financial markets, businesses and government offices were closed Monday for a national holiday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">In early morning trading Chile's Ipsa select stock index surged into record high territory midday Tuesday as the US Dollar declined raising copper prices worldwide. The Ipsa was recently at a fresh intraday high at 4952.19 on healthy investor appetite for emerging-market assets.</span><br />
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Dual-listed gainers included power producer Endesa (EOC, ENDESA.SN), which surged 3% to close at CLP896.83 and flagship carrier LAN Airlines (LFL, LAN.SN), which climbed 1.1% to CLP15,361.00. <br />
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Other gainers included fuel and forestry conglomerate Copec (COPEC.SN), which increased 3.4% to CLP9,520.00 and retailer La Polar (LAPOLAR.SN), which rose 2.1% to CLP3,560.70. <br />
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Chile's Peso ended stronger against the Dollar Tuesday.</b></i><br />
The peso ended at CLP486.90 to the dollar, versus Friday's close of CLP488.90, while trading in a range of CLP486.30 to CLP489.00. <br />
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In the bond market, yields on inflation-indexed Chilean central bank bonds, or BCUs, ended with slight variations in thin over-the-counter trading. <br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Early gainers included steel and iron ore maker Cap (CAP.SN), which was increasing 1.5% to CLP23,350.00, and retail holding company Cencosud (CENCOSUD.SN), which was surging 1.3% to CLP3,860.00.</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Chile's Peso Closes Stronger</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Chile's peso ended stronger against the dollar Tuesday.</span><span style="font-family: Arial,Helvetica,sans-serif;">A stronger euro in relation to the dollar and higher international copper prices contributed to the peso's gains, according to traders.</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"> </span><span style="font-family: Arial,Helvetica,sans-serif;">The peso ended at CLP486.90 to the dollar, versus Friday's close of CLP488.90, while trading in a range of CLP486.30 to CLP489.00. All financial markets, banks, businesses and government offices were closed Monday for a national holiday.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">PERU:</span></div><span style="font-family: Arial,Helvetica,sans-serif;"><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">LIGHT INFLATION SEEN</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Peru's Inflation Remains Weak Despite Booming Economy<br />
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Peru's inflation remains weak despite booming economic growth, and this should allow the Central Reserve Bank of Peru to hold its policy rate steady at 3.0%. <br />
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On Monday, a holiday in Peru, the nation's statistics agency said the benchmark consumer price index declined for the second consecutive month. <br />
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The CPI fell 0.14% in October to bring the 12-month rise in inflation to 2.10%. That is almost midcenter of the central bank's target range of 1.0% to 3.0%. <br />
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Food prices--food and beverages have a 37.8% weighting in the inflation basket--declined 0.68% in October, dragging down the overall indicator. <br />
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Economists expect inflation to end the year well within the government's target range, allowing the central bank to hold off increasing its reference interest rate. Between June and September the central bank increased its reference interest rate from 1.5% to 3.0%, while forecasting that inflation will end the year within its target range. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Peru's gross domestic product is expected to expand by more than 8.0% this year, driven in part by strong domestic demand. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">COLOMBIA: </span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">COLOMBIA SALES TO CHINA BOOMING </span></div><div style="font-family: Arial,Helvetica,sans-serif;"><i><b>Colombian Jan-Aug Sales To China Tripled</b></i></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Colombian exports to China surged in the first eight months of the year, fueled by sales of oil, coal and nickel, the Colombian trade promotion agency said Tuesday. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Colombian sales to China more than tripled in the January-August period from a year earlier, reaching $1.59 billion , Proexport, Colombia's trade promotion agency, said in a statement. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">China is now Colombia's second-largest trading partner after the U.S and accounts for 6% of total export income. Exports of crude, fuels and derivatives to China went up 397% to $823.3 million in the first eight months of 2010, Proexport said. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Coal exports to China reached $323.1 million in January through August. Colombia is the world's fifth largest coal exporter with an estimated 7 billion tons of proven reserves, and is just now starting to reach the Asian coal markets. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Cerrejon LLC, Colombia's largest coal miner, is slated to export 5 million tons of coal this year to Asia, which accounts for about 15% of production. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">In the first eight months of this year Colombian nickel sales to China grew by 13% from a year earlier to $253.8 million. </span><span style="font-family: Arial,Helvetica,sans-serif;">The Colombian export sector has enjoyed a strong recovery after suffering steep declines last year. In the first eight months of 2010, exports are up 22% to $25.6 billion.</span> <br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">European Markets:</span> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Eurosystem's reserves of gold and gold receivables remained unchanged at EUR334.412 billion in the week ended Oct. 29, the European Central Bank said Tuesday. <br />
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The Eurosystem's reserves of net foreign currency increased EUR200 million to EUR177 billion during the period due to customer and portfolio transactions and U.S. dollar liquidity-providing transactions. <br />
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The ECB said cash in circulation increased EUR3.8 billion to EUR815 billion, while total assets rose by EUR17.716 million to EUR1.896 trillion. The Eurosystem consists of the Frankfurt-based ECB and the 16 euro-zone national central banks.<br />
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ECB website: <a href="http://www.ecb.int/">www.ecb.int</a> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><b>Early morning trading in Europe shows a higher move in most reporting counties.</b> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">European shares turned higher on Tuesday with the decline of the dollar. Oil majors were supported by upbeat underlying results from BP (BP.L) and BG Group (BG.L), though caution ahead of a U.S. Federal Reserve policy decision capped further gains.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Output growth in the euro zone's manufacturing sector picked for the first time in three months in October, with Spain and Ireland returning to expansion but Greece still mired in recession, a final survey by Markit shows. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">European stock markets are currently trading higher with </span><span class="tpk" style="font-family: Arial,Helvetica,sans-serif;">FTSE</span><span style="font-family: Arial,Helvetica,sans-serif;"> 100 up by 70.33 points, DAX30 up by 58.21 points and CAC 40 up by 36.26 points.</span><span style="font-family: Arial,Helvetica,sans-serif;"></span><br />
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By 0819 GMT, the pan-European FTSEurofirst 300 .FTEU3 index of top shares was up 0.1 percent at 1,088.50 points, after opening in negative territory. British Pound Weighed By Growth Concerns. The U.S. Dollar is at a crossroads ahead of FOMC.seen at 1.404 but apparently hit stops as the pair eases back to the 1.403 area, dollar remains defensive ahead of FOMC decision.</span><br />
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<div style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">LONDON:</span></div><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">London Stocks Maintain Gains After US Open</span><br />
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FTSE 100 5765.11 +70.49 +1.24%<br />
FTSE 250 10901.39 +26.11 +0.24%<br />
DJ UK Smaller Companies 909.80 +1.89 +0.21%<br />
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1347 GMT FTSE 100 maintaining gains after US equity markets climb. In London, the oil and mining stocks are jostling for the top spots with Kazakhmys +3.7%, Tullow Oil +3.6%, Antofagasta +3.3%. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">On the downside, Serco is yet again the biggest decliner, -3.8% after asking for tax rebates from suppliers. There are no economic data of note during the afternoon session. Inevitably, investors are eagerly waiting for the outcome of the two-day FOMC meeting, which begins Tuesday.<br />
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<span style="font-size: large;">TOP STORIES:</span><br />
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<div style="font-family: Times,"Times New Roman",serif;"><span style="font-size: x-large;">Royal Mail Profits Fall</span></div><span style="font-family: Arial,Helvetica,sans-serif;">Royal Mail Group, which consists of a letters delivery business, a network of Post Offices, and an express parcel deliveries service, said operating profit fell to GBP52 million in the period from GBP184 million a year ago, as mail volumes continued to decline and it faced increased competition from rival operators and email. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The letters business returned to an operating loss as letter volumes fell to an average of 68 million items daily, some 16 million fewer items than when volumes peaked five years ago. The daily average is now at the same level as the mid-1990's. The unit's loss was GBP66 million compared with a profit of GBP48 million in the same period last year as revenue dropped to GBP3.07 billion, from GBP3.21 billion. </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">BP Net Profit Plunges To $1.8B</span><i><b> </b></i><br />
BP PLC (BP) Tuesday posted a 66.5% fall in net profit for the third quarter as it took another $7.66 billion of charges related to the Gulf of Mexico oil spill.<br />
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<i><b>Lloyds Reports Steady 3Q, Says Comfortable With Basel III </b></i><br />
Lloyds Banking Group PLC (LYG) said Tuesday that underlying income grew in the third quarter, while costs and impairments continued to fall, setting up the 41%-government owned bank to end the year profitably.<br />
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<i><b>UK October Construction PMI Slips To 51.6, Lowest Since February </b></i><br />
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The U.K.'s construction sector grew at the weakest pace in eight months in October as government spending cuts undermined confidence in the sector and new orders and output both slowed, a survey showed Tuesday.<br />
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<i><b>Aviva Says Profits To Grow This Year As Sales Rise </b></i><br />
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U.K. insurer Aviva PLC (AV.LN) Tuesday said it is positioned to deliver strong, profitable growth and "outstanding capital generation" for 2010 after it posted a better-than-expected 6% rebound in new business sales in the first nine months, helped by strong results in the U.K. and Asia. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">ITALY:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Italy October Government Borrowing EUR7.5 Billion</span></span><br />
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Italy's state-sector borrowing requirements, a key indicator of the budget deficit, totalled nearly EUR7.5 billion in October, down 32% on the year, the economy ministry said Tuesday. <br />
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These requirements reached nearly EUR72 billion in the first 10 months of the year against EUR83.45 billion for the same period a year earlier, the ministry said in a statement, citing preliminary data. <br />
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The reduction in the amounts required for the two periods was thanks to a cut in public administration spending and the postponement of some payments to November, the ministry added.<br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Asian Pacific Markets: </span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Asian shares declined in a mixed day but the dollar kept a tenuous grip on overnight gains in Asia on Tuesday ahead of U.S. elections and a Federal Reserve meeting that is expected to ease monetary policy. </span><span style="font-family: Arial,Helvetica,sans-serif;">Japan’s benchmark Nikkei 225 stock index rose 0.1 per cent, while Hong Kong’s Hang Seng index added 0.1 per cent.</span><span style="font-family: Arial,Helvetica,sans-serif;"> </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-large;">CHINA:</span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Chinese shares edged lower on profit-taking amid worries over possible shifts in monetary policy to counter excess liquidity. The benchmark Shanghai Composite Index closed 0.3 per cent lower.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;">JAPAN:</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;">JAPAN THREATENS INTERVENTION TO CAP YEN</span></span><br />
Japanese Finance Minister Yoshihiko Noda calls the yen's recent appreciation "one-sided," and threatens intervention in the foreign-exchange markets to weaken the currency.<br />
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The MSCI index of Asia Pacific stocks outside of Japan declined 0.4 percent by 9:41 p.m. ET as material and financial stocks weakened.<br />
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Japan's Nikkei share average fell to a seven-week low and the broader-based Topix index hit a 19-month low, under pressure from the yen's strength as it hovers close to a record high against the dollar.<br />
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The Nikkei was off 0.1 percent and the Topix was down 0.2 percent. They are down 13 percent and 12 percent so far this year, respectively.<br />
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The dollar was last at 80.63 yen and within sight of a record low of 79.75 yen set in 1995. Markets were keeping a wary eye on the currency pair, with the risk of Japanese intervention seen mounting if the dollar slips below 80 yen. </span><br />
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<span style="font-size: x-large;"><span style="font-family: Arial,Helvetica,sans-serif;">AUSTRALIA:</span></span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">Australian Dollar Beyond Parity</span></span><br />
<i><b>Australian Dollar Soars as RBA Hikes Rates, Spotlight Turns to FOMC</b></i><br />
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The Australian Dollar soared as the RBA unexpectedly raised interest rates for the first time in six months. From here, all eyes have turned to the upcoming US Fed policy announcement.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;"><i><b>ASX Chief Dismisses Critics Of A$8.4B Takeover By SGX </b></i><br />
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The head of Australia's stock exchange, ASX Ltd. (ASX.AU), said Tuesday the company will formally apply this month to the government for approval of its 8.4 billion Australian dollar (US$8.3 billion) takeover by Singapore Exchange Ltd. (S68.SG) and dismissed the concern of lawmakers who argue the buyout isn't in the country's national interest. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The Reserve Bank of Australia raises its cash rate target by 25 basis points to 4.75%, an unexpected move that marks its first change in policy in six months. The rate hike lifts the Australian dollar to near parity with the U.S. dollar.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Higher interest rates in foreign economies often strengthen those currencies. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The ICE Dollar Index, which measures the greenback against a basket of currencies, fell to 76.769 from 77.296 early Tuesday. A weaker dollar makes crude cheaper to buyers using foreign currencies. </span><br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">WORLD FOREX CURRENCIES SNAPSHOT:</span></span><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">(TUESDAY, NOV 2, 2010 12:05 PM EDT)</span></b></i><br />
<span style="font-family: Arial,Helvetica,sans-serif;">EUR/USD 1.4008 +0.0114 (0.82%)<br />
USD/JPY 80.7700 +0.1500 (0.19%)<br />
GBP/USD 1.6010 -0.0032 (-0.20%)<br />
CAD/USD 0.9902 +0.0042 (0.43%)<br />
USD/HKD 7.7511 -0.0017 (-0.02%)<br />
USD/CNY 6.6776 -0.0116 (-0.17%)<br />
AUD/USD 0.9991 +0.0121 (1.23%)</span><br />
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<span style="font-size: x-large;"><span style="font-family: Times,"Times New Roman",serif;">WORLD MARKETS SNAPSHOT:</span></span><br />
<i><b><span style="font-family: Arial,Helvetica,sans-serif;">(TUESDAY, NOV 2, 2010 12:05 PM EDT)</span></b></i><br />
<span style="font-family: Arial,Helvetica,sans-serif;">Shanghai 3,045.43 -8.59 (-0.28%)<br />
Nikkei 225 9,159.98 +5.26 (0.06%)<br />
Hang Seng Index 23,671.42 +18.48 (0.08%)<br />
TSEC 8,344.76 -34.99 (-0.42%)<br />
FTSE 100 5,758.97 +64.35 (1.13%)<br />
DJ EURO STOXX 50 2,857.72 +20.99 (0.74%)<br />
CAC 40 3,863.37 +22.26 (0.58%)<br />
S&P TSX 12,680.58 +15.77 (0.12%)<br />
S&P/ASX 200 4,701.40 +2.90 (0.06%)<br />
BSE Sensex 20,345.69 -9.94 (-0.05%)</span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: x-large;">TUESDAY'S U.S. ECONOMIC CALENDAR:</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">7:45 a.m.<br />
Oct 30 ICSC-Goldman SachsChain Store Sales Index - WoW (previous +0.3%), YoY (previous +1.9%)<br />
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8:55 a.m.<br />
Oct 30 Johnson Redbook Retail Sales Index MoM % Change (previous +0.3%), 12Mon Chg Pct (previous +2.7%), 52WkChgPct (previous +2.8%)<br />
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10:00 a.m.<br />
3Q U.S. Housing Vacancies<br />
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11:00 a.m.<br />
Oct Global Manufacturing PMI<br />
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4:30 p.m.<br />
Oct 29 API Weekly Statistical Bulletin Crude Stocks (Net Change) (previous +6.43M), Gasoline Stocks (Net Change) (previous -1.81M), Distillate Stocks (Net Change) (previous +0.82M), Refinery Runs (previous 81.6%)<br />
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5:00 p.m.<br />
Oct 31 ABC News Consumer Comfort Index (previous -47)<br />
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Federal Election Commission - U.S. mid-term elections<br />
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Federal Reserve Board - U.S. Federal Open Market Committee meeting, day 1. </span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">TIME ADJUSTMENT REMINDER: <br />
Clocks In Europe 'Fell Back' Sunday Oct 31.<br />
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European countries turned back their clocks one hour Sunday as they leave daylight saving time. Countries in North America will make the change Nov. 7. </span><br />
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<span style="font-family: Times,"Times New Roman",serif; font-size: large;">US STOCK MARKET SUMMARY, TUESDAY, NOV. 2, 2010:</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Stocks:</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">US stocks finished mixed as the rebound in the US Dollar gained ground </span><span style="font-family: Arial,Helvetica,sans-serif;">throught the day. Stocks finished flat after posting significant gains at </span><span style="font-family: Arial,Helvetica,sans-serif;">the open, helped by robust manufacturing numbers from China, the US and the </span><span style="font-family: Arial,Helvetica,sans-serif;">UK. The Securities and Exchange Commission was said to be investigating the </span><span style="font-family: Arial,Helvetica,sans-serif;">J.P. Morgan Chase bank also helped further dissipated the rally. The </span><br />
<span style="font-family: Arial,Helvetica,sans-serif;">financial sector declined into the red after the ProPublica report. They </span><span style="font-family: Arial,Helvetica,sans-serif;">said the SEC is investigating whether J.P. Morgan Chase allowed Magnetar </span><span style="font-family: Arial,Helvetica,sans-serif;">Capital, a hedge fund, to improperly select assets for a $1.1 billion deal </span><span style="font-family: Arial,Helvetica,sans-serif;">backed by subprime mortgages.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">U.S. domestic air fares jumped 13% in the second quarter after hitting a </span><span style="font-family: Arial,Helvetica,sans-serif;">record low a year earlier, with the increase being the biggest since at </span><span style="font-family: Arial,Helvetica,sans-serif;">least 1996, according to the Department of Transportation. The report </span><span style="font-family: Arial,Helvetica,sans-serif;">follows airlines reporting sharply improved results for the third quarter, </span><span style="font-family: Arial,Helvetica,sans-serif;">with many of the largest carriers beating expectations.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Treasurys:</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Treasury prices weakened slightly Monday following some optimistic economic </span><span style="font-family: Arial,Helvetica,sans-serif;">data and trading calmed ahead of Wednesday's expected Federal Reserve </span><span style="font-family: Arial,Helvetica,sans-serif;">announcement of another large-scale bond buying program. Treasury prices </span><span style="font-family: Arial,Helvetica,sans-serif;">slipped after a report showed the U.S. manufacturing sector expanded at a </span><span style="font-family: Arial,Helvetica,sans-serif;">much faster-than-expected pace last month. Government bond prices had been </span><span style="font-family: Arial,Helvetica,sans-serif;">up early Monday after data that showed U.S incomes fell in September for the </span><span style="font-family: Arial,Helvetica,sans-serif;">first time in over a year.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">Forex:</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">The dollar sharply reversed early losses against the yen and the euro </span><span style="font-family: Arial,Helvetica,sans-serif;">Monday, spurred on by optimistic U.S. manufacturing data. The </span><span style="font-family: Arial,Helvetica,sans-serif;">more-encouraging economic snapshot gave pause to the more-aggressive bets on </span><span style="font-family: Arial,Helvetica,sans-serif;">expected Federal Reserve stimulus in recent weeks.</span><br />
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<span style="font-family: Arial,Helvetica,sans-serif;">© Copyright 1999-2010, Online Consultancy Network™. All Rights Reserved.</span><div class="blogger-post-footer">The Online Consultancy Network offers dynamic business resources, feature articles, breaking news, technology, and senior-level independent business consultants and organizations.</div>Benjamin Trainhttp://www.blogger.com/profile/04114174947909240569noreply@blogger.com0