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Jun 16, 2010

NASDAQ FOREX :Australia: Foreign Exchange Transactions reach 446M in May 6/16/2010 10:52:19 PM - FXstreet.com Latest Forex News. June 16th. 2010

NASDAQ FOREX

Latest Forex News

FGC BOLSA -FGC FINANCIAL MARKETS : MarketWatch.- Industry-Financial Services - Corrections: Day 2 of bank reform: Lawmakers approve Fed audit. June 16th, 2010





INDUSTRY: FINANCIAL SERVICES


Corrections: Day 2 of bank reform: Lawmakers approve Fed audit  
By MarketWatch
6/16/2010 10:13:00 PM



A June 16 MarketWatch report on financial reform misstated the party affiliation of Rep. Ed Royce. Royce is a Republican. See full story

The Fed: Fed probing bank ties to each other, Bernanke says

 
By Greg Robb MarketWatch
6/16/2010 6:19:00 PM



The Federal Reserve has started a program to measure the ties among the largest U.S. banks "to better identify potential channels of financial contagion," Federal Reserve Board Chairman Ben Bernanke says. See full story


MarketWatch : Personal Finance Daily: June 16th., 2010

MarketWatch
Personal Finance Daily
JUNE 16, 2010

Wednesday's Personal Finance stories

By MarketWatch



Don't miss these top stories:

When you think "great customer service," it's unlikely your health insurer comes to mind. But insurance companies hope to change that as they gear up to compete for the millions of new customers headed their way thanks to the health-care overhaul.

Insurers are also eager to hold on to their current customers, because one effect of the new law is that health insurance plans will start to look a lot more similar to each other. That will make it easier for consumers to compare products -- and shop around.

Read Kristen Gerencher's Vital Signs column today for a look at how insurance plans are going to become more commoditized, and the various ways insurance companies are ramping up their customer service efforts to attract and retain customers.

An "explanation of benefits" that actually explains my benefits? I'll believe it when I see it.

-- Andrea Coombes , Personal Finance editor

Facing new pressure, health plans beef up customer service

Cutting inscrutable health-insurance jargon out of their communications. Opening retail stores to answer people's questions and offer wellness classes. Measuring customer-service efforts to give callers a better experience.
See Vital Signs.


RETIREMENT

One in five older Americans a victim of financial fraud: survey

Whether it's a rebate check from Medicare, an oil spill in the Gulf of Mexico, or any other headline news, there's likely a scam artist not far behind. And more often than not, the victim is an older American.
See Robert Powell.


France to raise retirement age to 62

In its first big step to address its ballooning budget deficit, the French government proposed to lift the retirement age to 62 from 60 and to raise taxes imposed on top earners.
See story on France to raise retirement age to 62.


REAL ESTATE

Senate votes to extend home-buyer tax credit deadline

The home-buyer tax credit deadline would be extended three months following a Wednesday vote in the Senate. Senators voted 60 to 37 to approve the extension for the credit, which has a current deadline of June 30 to close a purchase.
See Market Pulse.


U.S. home building craters after tax-credit's demise

As expected, U.S. home builders sharply reduced construction as a federal tax break for home buyers expired, according to estimates released Wednesday by the Commerce Department.
See Economic Report.


Commentary: Welcome to the post-tax-credit housing malaise

You remember when you were first learning to ride your two-wheeler and your Dad held the bike steady, racing alongside of you while you got the feel of the pedals and the handlebars and the coast break. And you remember that glorious moment when he let go and you were sailing on your own, possessing a brand-new skill and a passport to untold freedom. And then you fell over into the tree.
See MarketWatch First Take.


Fannie, Freddie to scrap NYSE stock listings

In another sign of the firms' financial disintegration, Freddie Mac and Fannie Mae, the giant mortgage finance companies operating in government conservatorship, said Wednesday they are delisting their common and preferred stocks from the New York Stock Exchange.
See story on Fannie, Freddie to scrap NYSE stock listings.


THE GULF OIL SPILL

BP to set up $20 billion escrow fund, and cut dividend

BP PLC said Wednesday it will establish a $20 billion escrow fund to compensate victims of the Gulf oil disaster and suspend $7.5 billion in dividend payments this year. The statements came after top BP officials met with President Obama.
See story on BP to stop paying dividends.


Commentary: Red flags for BP far from public eye

As BP PLC's top executives trooped into the White House Wednesday under the glare of the global media, a new front in the struggle to save their company may be opening up far from the public eye: the trading room.
See MarketWatch First Take.


ECONOMY & POLITICS

U.S. industrial output jumps 1.2% in May

The recovery in the U.S. industrial sector accelerated in May, led by strong output of durable-goods manufacturing and utilities, the Federal Reserve reported Wednesday.
See Economic Report.


Legislators OK SEC self-funding in Day 2 of bank reform

Congressional leaders began their second day of work on resolving their differences in a sweeping bank reform package Wednesday, as Democratic lawmakers on both sides of the conference agreed to allow the Securities and Exchange Commission to fund itself through fees it collects from corporations.
See story on bank reform.


Fed on hold until mid-2011, bank economists say

Economists at 14 top U.S. banks have pushed back their estimate of the first Federal Reserve interest-rate increase until the middle of next year, according to their latest forecast released by the American Bankers Association on Wednesday.
See The Fed.


SEC's 'revolving door' under scrutiny: WSJ

The practice of Securities and Exchange Commission staffers leaving the agency to join companies they once regulated is to come under review, according to a published report.
See story on SEC's 'revolving door' under scrutiny.


States probe Google on Internet data

Dozens of states are looking into whether Google Inc. broke any laws when it collected data from the home wireless networks of American consumers.
See story on states probe Google on Internet data.

CNBC : Evening Brief.-More Than 90 Banks Missed Their Bailout Payments in May . June 16th., 2010


LATEST STORIES

LATEST VIDEO

Obama on BP Agreement
President Obama makes a statement after his meeting with BP executives. He said the oil giant has agreed to set aside $20 billion to pay claims for damages resulting form the spill.
» Watch Video
   

ABC News : Australia -Morning Edition: Thu 17 Jun 2010. / June 16th., 2010


BUSINESS

Support for extended shopping hours

Midland businesses have welcomed the State Government's push to extend retail trading hours in the area.

Asciano secures more coal contracts
Rail freight company Asciano has secured another major coal transport contract in central Queensland.

Mixed data sees Wall Street finish flat
There was a muted end to overnight trading in the United States, with a profit warning from the leading package delivery company, FedEx overshadowing a surge in industrial production.

GLOBAL FINANCIAL CRISIS


Bank of England given new regulatory powers Photo

Britain's chancellor of the exchequer, George Osborne, has announced that the Bank of England is to be given new financial regulation powers.

Mixed data sees Wall Street finish flat

There was a muted end to overnight trading in the United States, with a profit warning from the leading package delivery company, FedEx overshadowing a surge in industrial production.

FGC BOLSDA FGC FINANCIAL MARKETS : US Markets At Close. June 16th.n 2



The Dow ended up 4.69 points. The Wall Street Journal  at closed, reports that Stocks recovered from an early stumble to end little changed Wednesday as BP's latest moves in response to the Gulf of Mexico disaster prompted a rebound in the energy sector.
The company agreed to set up a $20 billion fund to compensate victims of the oil spill, and said it will suspend its dividend for the rest of 2010.  Read full report 
6/16/2010 4:30:00 PM ET DJ30 PointChange: +4.69 Level: 10409.46 NASDAQ PointChange: +0.05 Level: 2305.93 NQ100 PercentChange: +0.4 R2K PercentChange: -0.4 SP400 PercentChange: -0.4 SP500 PointChange: -0.62 Level: 1114.61 NASDAQ-Adv:1063 Dec: 1563 NYSE-Adv:1245 Dec: 1796

NYT: Afternoon Top Stories & Business. Update. June 16th., 2010



TOP STORIES

BP to Suspend Dividend and Set Up Fund for Oil Spill Claims

By JACKIE CALMES and HELENE COOPER
BP agreed to create a $20 billion escrow account and announced that it would suspend its dividend for the remainder of the year.

BP Opens Second Containment System

By LIZ ROBBINS and JUSTIN GILLIS
The company began siphoning oil through a series of pipes and hoses to a ship, where the crude will be cleaned and burned.

Dozens Held Amid Fears of More Unrest in Kyrgyzstan

By CLIFFORD J. LEVY and ELLEN BARRY
Over 100 people were arrested on suspicion of trying to stir up riots, as evidence mounted that days of ethnic violence had been deliberately organized.

Austerity Plans Advance in France and Spain

By MATTHEW SALTMARSH
French officials proposed raising the retirement age by two years and increasing income taxes on the rich, while Madrid is planning to shake up its labor market.

Closing Arguments in Trial on California Gay Marriage

By JESSE McKINLEY
Lawyers are making their final case to a federal judge Wednesday in the challenge to the state's ban on same-sex marriage.

BUSINESS
Your Money

Dividends Are Supposed to Be Safe, Until They're Not

By RON LIEBER
For investors, the moral of the BP's decision to stop paying dividends is to diversify.
Bits Blog

More Than 600,000 Orders for iPhone 4

By JENNA WORTHAM
AT&T said presale orders were 10 times higher than they were for the previous version of the iPhone.

Putting a Private Detective in Your Laptop

By ERIC A. TAUB
A number of good programs can locate a stolen computer through Internet information, monitor e-mail and even photograph an illegal user.

Opel to Go Ahead Without Government Aid

By JACK EWING
The G.M. unit, unsuccessful so far in securing government aid, said it will finance a five-year new-product drive with help from the parent company.

Wall Street Moves Within a Narrow Range

By THE ASSOCIATED PRESS
Shares steadied after BP's agreement to put $20 billion into a fund for victims of the oil spill eased some uncertainty about the company.

RTTNews: Evening Market Wrap. June 16th., 2010

Evening Market Wrap Wed Jun 16 17:01 2010 

Economic News

Jun 16, 2010 Producer Prices Fall Again In May Wholesale prices eased again in May, pulled down by a slide in energy prices. The figures continued to point to subdued inflation, keeping pressure off the Federal Reserve to raise interest rates. Producer prices fell 0.3 percent in May compared to the previous month. This according to statistics released by the U.S. Department of Labor. Full Article
Jun 16, 2010 US Housing Starts Fall Sharply As Tax Credit ExpiresThe rate of U.S. housing starts slumped badly in May, signaling problems for the housing market following the April 30 expiration of the government's homebuyer tax credit. Housing starts plunged 10 percent to a seasonally adjusted annual rate of 593,000. Full Article

Corporate News

Jun 16, 2010 BP To Set Aside $20 Bln. For Gulf Claims, Suspend Dividend For The YearPresident Barack Obama Wednesday announced that BP has agreed to set aside $20 billion in an independently administered account to process claims of those whose lives and work have been damaged by the ongoing oil spill in the Gulf of Mexico. Full Article
Jun 16, 2010 Apple Gets Record IPhone 4 Pre-OrdersWednesday, Apple Inc. (AAPL) said it received more than 600,000 pre-orders from customers for its iPhone 4 on Tuesday, the first day the device could be ordered in advance. Apple, which launched the latest version of the phone on July 8, said it was the largest number of pre-orders it has ever taken in a single day and was far higher than anticipated. Full Article
Jun 16, 2010 Nokia Cuts Key Unit's Q2 Outlook On Smartphone Competition, Weak EuroNokia Corp. (NOK) Wednesday cut its second quarter and full-year outlook for its key business unit, Devices & Services, citing competition at the high-end smartphone market, shift in its product mix toward lower margin phones, and weaker Euro. Full Article
Jun 16, 2010 Fannie Mae, Freddie Mac To Delist SharesThe Federal Housing Finance Agency or FHFA Wednesday announced that it has directed mortgage finance companies Fannie Mae (FNM) and Freddie Mac (FRE) to delist their common and preferred stock from the New York Stock Exchange and other national securities exchanges. Full Article
Jun 16, 2010 FedEx Turns To Profit In Q4; Guides 2011 Below ViewPackage delivery giant FedEx Corp. (FDX) on Wednesday beat market expectations in recording a profit for the fourth quarter, compared to a loss last year that included a hefty goodwill impairment charge. Full Article
Jun 16, 2010 PPG Industries Projects Strong Q2 Profit, Above ViewProtective and decorative coatings company PPG Industries, Inc. (PPG) announced Wednesday that it expects strong results for the second quarter, projecting adjusted earnings significantly above analysts' expectations, citing continuing demand improvements. Full Article
Jun 16, 2010 Sunoco To Break-off SunCoke Energy; Expects Refining Segment To Be Profitable In Q2Transportation fuels provider Sunoco, Inc. (SUN) said Wednesday that it plans to separate its coal production unit, SunCoke Energy from the remainder of the company, intended to bring long-term value to shareholders. Full Article
Jun 16, 2010 Sainsbury Q1 Sales, Like-for-like Sales RiseFood retailer Sainsbury (J) plc (SBRY.L, JSNSF.PK) Wednesday said its total sales and like-for-like sales in the first quarter improved from the prior-year period, helped by contribution from new stores and grocery online business. Full Article
Jun 16, 2010 DC Universe Online Could Challenge World Of Warcraft While Activision Blizzard, Inc.'s (ATVI) World of Warcraft has long been the top dog in the world of massively multiplayer online role-playing games (MMORPGs), boasting 11.5 million subscribers, the fantasy world of Azeroth could finally face some serious competition from Sony Online Entertainment's DC Universe Online. Full Article

Forex Top Story

Jun 16, 2010 Dollar Steadies Despite Dismal Housing Data The dollar held its ground versus other majors on Wednesday as mixed economic data from around the world gave pause to those betting on a sustainable recovery. The threat of a double-dip US housing recession and lingering concerns about Europe helped the dollar stabilize after losses in the previous few sessions. Full Article

Political News

Jun 16, 2010 US Extends Sanctions On North Korea By Another YearThe United States has extended economic sanctions on North Korea for another year, saying the reclusive Communist nation's nuclear program is posing an "unusual and extraordinary threat" to U.S. security and foreign policy. Full Article
Jun 16, 2010 King Defends Remarks Concerning Obama, Holder And RaceRepresentative Steve King (R-IA) stands by the comments he made concerning President Barack Obama and Attorney General Eric Holder's attitudes towards race. King was interviewed on G. Gordon Liddy's radio show Monday, and defended his remarks on the same show the next day. Full Article
Jun 16, 2010 Gates Urges Congress To Pass War FundingDuring testimony before the Senate Appropriations Committee Wednesday, Defense Secretary Robert Gates said that, unless Congress approves additional funding for the wars in Iraq and Afghanistan, military operations in those countries may need to be scaled back for the rest of the year. Full Article
Jun 16, 2010 General Petraeus Returns To Senate Committee Hearing After Fainting During Hearing On TuesdayA day after he fell ill and fainted during a Senate Armed Services Committee hearing, General David Petraeus returned to testify before the committee once again Wednesday. During the hearing Tuesday, Petraeus was in the middle of being questioned by Senator John McCain (R-AZ) about the war in Afghanistan when he suddenly slumped towards the microphone, appearing to faint. Full Article
Jun 16, 2010 Poll: Most Americans Say BP Must Pay For More Than Just Clean-UpA new survey from conservative-leaning Rasmussen Reports showed that most Americans agree with President Barack Obama's demand that BP should pay for more than just the clean-up effort in regards to the Deepwater Horizon oil spill in the Gulf of Mexico. Full Article

FGC BOLSA - FGC FINANCIAL MARKETS : Financial Services: Legislators OK SEC self-funding in bank reform. June 16th., 2010






INDUSTRY: FINANCIAL SERVICES


More mergers in bank reform's wake: Credit Suisse
By April H. Lee MarketWatch
6/16/2010 1:39:00 PM



Consolidation in the financial-services sector will be more likely following the passage of financial-reform legislation, analysts from Credit Suisse say. See full story

Legislators OK SEC self-funding in bank reform


By Ronald D. Orol MarketWatch
6/16/2010 2:08:00 PM



Congressional leaders continue to work on resolving their differences in a sweeping bank reform package, as Democratic lawmakers agree to allow the Securities and Exchange Commission to fund itself through fees it collects from corporations. See full story


 EU leaders attempt to unite as debt crisis simmers

By William L. Watts MarketWatch
6/16/2010 1:19:00 PM


The Thursday summit reportedly will produce an agreement on a bank tax. See full story





Crisis by Design Coast to Coast AM 15 June 2010

SEC: : Charges Former Chairman of Major Mortgage Lender With $1.5 Billion Securities Fraud and Related TARP Scheme. June 16th. 2010


SEC Charges Former Chairman of Major Mortgage Lender With $1.5 Billion Securities Fraud and Related TARP Scheme

FOR IMMEDIATE RELEASE
2010-102

Washington, D.C., June 16, 2010 — The Securities and Exchange Commission today charged the former chairman and majority owner of what was once the nation's largest non-depository mortgage lender with orchestrating a large-scale securities fraud scheme and attempting to scam the U.S. Treasury's Troubled Asset Relief Program (TARP).

The SEC alleges that Lee B. Farkas through his company Taylor, Bean & Whitaker Mortgage Corp. (TBW) sold more than $1.5 billion worth of fabricated or impaired mortgage loans and securities to Colonial Bank. Those loans and securities were falsely reported to the investing public as high-quality, liquid assets. Farkas also was responsible for a bogus equity investment that caused Colonial Bank to misrepresent that it had satisfied a prerequisite necessary to qualify for TARP funds. When Colonial Bank's parent company — Colonial BancGroup, Inc. — issued a press release announcing it had obtained preliminary approval to receive $550 million in TARP funds, its stock price jumped 54 percent in the remaining two hours of trading, representing its largest one-day price increase since 1983.
"As the country's mortgage markets began to falter, Farkas arranged the sale of more than one billion dollars worth of mortgage loans and securities he knew to be fictitious or impaired," said Lorin Reisner, Deputy Director of the SEC's Division of Enforcement. "Farkas also lied about a sham equity investment he engineered to defraud U.S. taxpayers and the U.S. Treasury's Troubled Asset Relief Program."
According to the SEC's complaint, filed in U.S. District Court for the Eastern District of Virginia, Farkas executed the fraudulent scheme from March 2002 until August 2009, when TBW — a privately-held company headquartered in Ocala, Fla. — filed for bankruptcy. TBW was the largest customer of Colonial Bank's Mortgage Warehouse Lending Division (MWLD). Because TBW generally did not have sufficient capital to internally fund the mortgage loans it originated, it relied on financing arrangements primarily through Colonial Bank's MWLD to fund such mortgage loans.

According to the SEC's complaint, TBW began to experience liquidity problems and overdrew its then-limited warehouse line of credit with Colonial Bank by approximately $15 million each day. The SEC alleges that Farkas pressured an officer at Colonial Bank to assist in concealing TBW's overdraws through a pattern of "kiting" whereby certain debits to TBW's warehouse line of credit were not entered until after credits due to the warehouse line of credit for the following day were entered. As this kiting activity increased in scope, TBW was overdrawing its accounts with Colonial Bank by approximately $150 million per day.
The SEC alleges that in order to conceal this initial fraudulent conduct, Farkas devised a plan for TBW to create and submit fictitious loan information to Colonial Bank. Farkas also directed the creation of fictitious mortgage-backed securities assembled from the fraudulent loans. By the end of 2007, the scheme consisted of approximately $500 million in fake residential mortgage loans and approximately $1 billion in severely impaired residential mortgage loans and securities. As a direct result of Farkas's misconduct, these fictitious and impaired loans were misrepresented as high-quality assets on Colonial BancGroup's financial statements.
The SEC alleges that in addition to causing Colonial BancGroup to misrepresent its assets, Farkas caused BancGroup to misstate to investors and TARP officials that it had obtained commitments for a $300 million capital infusion, which would qualify Colonial Bank for TARP funding. Farkas falsely told BancGroup that a foreign-held investment bank had committed to financing TBW's equity investment in Colonial Bank. Contrary to his representations to BancGroup and the investing public, Farkas never secured financing or sufficient investors to fund the capital infusion. When BancGroup and TBW later mutually announced the termination of their stock purchase agreement, essentially signaling the end of Colonial Bank's pursuit of TARP funds, BancGroup's stock declined 20 percent.

The SEC's complaint charges Farkas with violations of the antifraud, reporting, books and records and internal controls provisions of the federal securities laws. The SEC is seeking permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, and financial penalties. The SEC also seeks an officer-and-director bar against Farkas as well as an equitable order prohibiting him from serving in a senior management or control position at any mortgage-related company or other financial institution and from holding any position involving financial reporting or disclosure at a public company.
The SEC's case was investigated by William P. Hicks, M. Graham Loomis, Aaron W. Lipson, Yolanda L. Ross and Barry R. Lakas of the Atlanta Regional Office. The SEC acknowledges the assistance of the Fraud Section of the U.S. Department of Justice's Criminal Division, the Federal Bureau of Investigation, the Office of the Special Inspector General for the TARP, the Federal Deposit Insurance Corporation's Office of the Inspector General, and the Office of the Inspector General for the U.S. Department of Housing and Urban Development. The SEC brought its enforcement action in coordination with these other members of the Financial Fraud Enforcement Task Force.
The SEC's investigation is continuing.
# # #
For more information concerning this enforcement action, contact:
Lorin L. Reisner
Deputy Director, SEC Enforcement Division
(202) 551-4787
Rhea Kemble Dignam — Regional Director
William P. Hicks — Associate Regional Director
SEC's Atlanta Regional Office
(404) 842-7600

http://www.sec.gov/news/press/2010/2010-102.htm

NASDAQ : Super Import .- Guide Offers Advice On Protecting Retired From Abuse. June 16th., 2010

NASDAQ

Market Analysis

FOX BUSINESS: Breaking News: BP REPORTEDLY AGREES TO PLACE $20 BILLION IN ESCROW ACCOUNT FOR DAMAGES FROM OIL DISASTER . June 16th., 2010


FBNLIVE Tracy & Cotter
FOXBusiness.com LIVELIVE As the president meets with BP executives at the White House, we check in on the local reaction to his speech last night. 

THE MOST POWERFUL NAME IN BUSINESS NEWS

Euro Slips on Spain Concerns

Is the World Broke? Fresh concerns about Spain's debt pushed the euro and global stocks lower.

BP Agrees to Escrow Account

BP agreed to put aside $20 billion to be used to compensate people harmed by the oil spill.

Markets Make Comeback on Euro

The markets erased earlier losses as BP shares and the euro recovered.

Fact Checking Bill Maher

EMac Many of the errors inflicted on the general population during the show were easily avoidable.

Ex Mortgage Exec in Hot Water

The head of now bankrupt Taylor, Bean & Whitaker Mortgage has been charged with fraud.

REal Clear Politics: June 16th., 2010

Real Clear Politics Wednesday

Obama Promises a Brighter Day. (Details to Come.) - Roger Simon, Politico
Speeches Are Nice, But Obama Has to Deliver - Lynn Sweet, Chicago ST
Crude Grab for Power Never Ends - Michael Goodwin, New York Post
Petraeus Fainting Spell Sums Up War Effort - Fred Kaplan, Slate
Afghan War Becoming a Bloody Farce - Tony Blankley, RealClearPolitics
U.S.-Turkey Relations Heading Over a Cliff - Thomas Friedman, NY Times
BP's Hayward Gets Ready for His Grilling - Alex Spillius, The Telegraph
BP Doesn't Deserve a Liability Cap - Richard Epstein, Wall Street Journal
Obama's Perfect Sense of Timing - Paul Begala, The Daily Beast
Can Obama Drop the Michael Jordan Act? - Maureen Dowd, NY Times
Our Caudillo President - Ben Stein, The American Spectator
Angle's Makeover is Bad News for Harry Reid - Jon Ralston, Las Vegas Sun
Palin Not Quite in Thatcher's League - Claire Berlinski, The Guardian
Little Win Portends Big Change for GOP - Paul Mulshine, NJ Star-Ledger
Dr. Donald Berwick: Dangerous to Our Health - Jeff Jacoby, Boston Globe
Gates, Buffet, and the $600 Million Challenge - Carol Loomis, Fortune
Burying the Incumbent Protection Racket - Wallison & Gora, The American
Speech Reax : Krauthammer, O'Reilly | Olbermann, Matthews | Allen
Politics Nation: Primary To Replace Bob Bennett Will Be Close

Editorials

Obama's Address Short on Specifics - New York Times
This Time, Obama Really, Really Means It - Boston Herald
Obama Offers More Than Rhetoric - St. Petersburg Times
Bonus Bonanza for Federal Workers - Washington Examiner

FGC BOLSA - FGC FINANCIAL MARKETS : MarketWatch.- Financial Services: All that glitters is Goldman, at least to clients. June 16th., 2010






INDUSTRY: FINANCIAL SERVICES


MarketWatch First Take: All that glitters is Goldman, at least to clients  
By MarketWatch
6/16/2010 10:33:00 AM



Given the way Goldman Sachs Group Inc. allegedly treats its clients, you might assume an exodus is brewing, writes David Weidner. See full story

The Talk Of These Past Week Is Crude Oil. June 16., 2010



Whether it is the spill in the Gulf, which continues unabated, or talk on Capitol Hill, the subject is crude oil.
Today we received a signal by way of our weekly "Trade Triangle" to get long crude oil. In this new brief video, we show

you the exact levels to keep your eye on and also where a logical stop would go for this position. We have had a lot of

questions on Fibonacci retracements lately and this video goes into detail about that phenomenon and how you can best use it.

http://www.ino.com/info/568/CD3233/&dp=0&l=0&campaignid=3

As always our videos are free to watch and there are no registration requirements. e are always interested in your views
so leave us a comment and let us know what you think.

http://www.ino.com/info/568/CD3233/&dp=0&l=0&campaignid=3

Adam Hewison
President, INO.com
Co-creator, MarketClub

RTTNews: Daily Market Analysis. Weak Housing Data May Bring To The Fore Economic Uncertainties. June 16th., 2010

Daily Market Analysis Wed Jun 16 09:11 2010 


Jun 16, 2010 Weak Housing Data May Bring To The Fore Economic Uncertainties - RTTNews Daily Market Analysis The major U.S. index futures are pointing to a lower opening on Wednesday, with sentiment reflecting traders' uneasiness amid cloudy economic data released earlier in the day and following yesterday's sharp gains. A Commerce Department report showed that housing starts fell sharply in May as a payback phenomena following the expiry of the first time homebuyers' credit at the end of April. Full Article

RTTNews : Daily Stocks to Watch.- KBR To Get $27 Mln from $2 Bln Yemen Gas Plant - Stocks to Watch

Daily Stocks to Watch Wed Jun 16 09:07 2010 

Stocks To Watch

Jun?16,?2010 KBR To Get $27 Mln from $2 Bln Yemen Gas Plant - Stocks to WatchEngineering firm KBR Inc (KBR) revealed that it expects to earn after-tax income of $27 million or 17 cents per share from a finalized deal on a $2 billion liquefied natural gas plant in Yemen. The Houston, Texas-based company received final change order agreements with partners Technip (TECF.PA) of France and JGC Corp (1963.T) of Japan for Yemen's largest industrial plant. Full Article
Jun?16,?2010 Introducing RTT Growth & Value StocksThe Growth & Value Stocks service is designed with a disciplined approach of extensive fundamental analysis to cater swing traders and investors. The service identifies growth stocks that are generally overlooked and value stocks that are usually undervalued by the market. The growth and value stocks we select have significantly outperformed the broader market indices. Full Article

RTTNews : Morning Market Briefing.- U.K. Consumer Confidence Falls Sharply. June 16th., 2010

Morning Market Briefing Wed Jun 16 09:06 2010 

Economic News

Jun 16, 2010 U.K. Consumer Confidence Falls SharplyConsumer morale in the U.K. slumped to its lowest level in almost a year in May, reports said on Wednesday citing the results of a new survey. Full Article
Jun 16, 2010 Australia Leading Index Growth SlowsA leading indicator of the Australian economy continued to surge ahead in April despite a moderation in the pace of growth, figures showed on Wednesday. Full Article
Jun 16, 2010 Eurozone Inflation Rises Modestly In May Eurozone inflation continued to stay below the European Central Bank's target, suggesting that price pressures in the 16-nation currency bloc remain extremely subdued. Full Article
Jun 16, 2010 U.K. Claimant Count Drops Again In May A decline in jobless claims in May, the increase in employment and job vacancies signaled tentative signs of improvement in the U.K. labor market. Full Article
Jun 16, 2010 PPI Down 0.3% In May Wholesale inflation figures came in higher than expected Tuesday morning. The Department of Labor revealed that producer prices fell 0.3 percent in May. Economists had expected a decline of 0.5 percent. Full Article

Earnings News

Jun 16, 2010 FedEx turns to profit in Q4; guides Q1, FY11 earnings viewWednesday, FedEx Corp. (FDX) posted a profit in the fourth quarter, compared to loss last year, reflecting a 20% growth in revenue. Adjusted earnings per share surpassed the Street view by a penny, as revenue also came in above expectations. However, the company provided first-quarter and full year earnings that were weaker, compared to the current estimate of analysts. Total average daily package volume rose 5% to 3.51 million pounds, and total average daily freight pounds surged 13% to 11.00 million from the past year. Full Article
Jun 16, 2010 PPG Industries guides Q2 adj. EPS above StreetWednesday, PPG Industries Inc. (PPG) provided second-quarter adjusted earnings outlook above the estimate of analysts, and representing a 54% - 65% year-over-year increase. The company also said it continues to see improvements in demand, when compared to the year-ago period. Full Article

Corporate News

Jun 16, 2010 Covidien to buy Somanetics for $25/shrWednesday, Covidien plc (COV) said it agreed to buy Somanetics Corp. (SMTS) in a deal valued at $250 million, net of cash acquired. Covidien said it will pay $25 a share in cash to acquire Somanetics, which will help in broadening its product offerings. Full Article
Jun 16, 2010 Freddie Mac , Fannie Mae to delist shares from NYSEWednesday, Freddie Mac (FRE) and Fannie Mae (FNM) said they notified the New York Stock Exchange NYSE of their intent to delist their common stock and preferred shares. Freddie Mac anticipates that the delisting of its stock will be effective on or about July 8, 2010, and Fannie Mae expects delisting to come about 10 days after it files on or around June 28 with the SEC. The company's said the decision was based on the stock price slipping below NYSE's required minimum market price of $1 per share. Full Article
Jun 16, 2010 Sunoco plans to hive off coke businessWednesday, Sunoco Inc. (SUN) said its board of directors has forwarded a plan to detach its SunCoke Energy unit from the rest of the business in a move towards unlocking shareholder value. The company said it intends to separate the operations in the first half of 2011, and is mulling several alternatives, including a tax-free spin-off to existing shareholders. Sunoco also noted that it anticipates its refining segment to report a profit for the quarter ending June 30. Full Article

Broker Ratings Changes

Jun 16, 2010 FBR Capital Markets Starts JPMorgan Chase & Co. (JPM) At Outperform With $45 Price Target

Todays WS Events

Jun 16, 2010 Colgate-Palmolive To Present At Deutsche Bank Global Consumer Conference; Webcast At 5:15 AM ET Colgate-Palmolive Co. (CL) will make a presentation at the Deutsche Bank Global Consumer Conference. The event is scheduled to begin at 5:15 AM ET June 16, 2010. To access the live webcast, log on at www.colgate.com
Jun 16, 2010 CSX To Present At The Bank Of America Merrill Lynch Global Transportation Conference; Webcast At 10:CSX Corp. (CSX) will present at the Bank of America Merrill Lynch Global Transportation Conference in New York City on June 16, 2010. The event is scheduled to begin at 10:55 AM ET. To acess the live webcast, log on at http://investors.csx.com
Jun 16, 2010 Cardinal Health To Present At The Goldman Sachs 31st Annual Global Healthcare Conference; Webcast AtCardinal Health, Inc. (CAH) will present at the Goldman Sachs 31st Annual Global Healthcare Conference on June 16, 2010. The event is scheduled to begin at 12:20 PM ET. To access the live webcast, log on at cardinalhealth.com
Jun 16, 2010 P&G To Present At The Deutsche Bank Global Consumer & Food Retail Conference; Webcast At 2:30 AM ET Procter & Gamble Co. (PG) will present at the Deutsche Bank Global Consumer & Food Retail Conference in Paris on June 16, 2010. The event is scheduled to begin at 2:30 AM ET. To access the live webcast, log on at www.pg.com/investors

FOX BUSINESS: Breaking News:EU Denies Plans for Aid for Spain . June 16th., 2010



Home Construction 02 276
Housing Starts Skid 10% The expiration of a popular homebuyer tax credit pushed housing starts to their lowest level in five months in May.


THE MOST POWERFUL NAME IN BUSINESS NEWS

EU Denies Plans for Aid for Spain

Is the World Broke? Regulators denied they are drawing up a liquidity plan for Spain.

Euro, Data Hit Futures

Wall Street braced for a solidly lower kickoff as market sentiment was hurt by a weaker euro.

Wholesale Inflation Drops 0.3%

As energy prices fell, producer prices declined 0.3% in May-the largest decline since February.

FedEx Posts $419M Profit in 4Q

Shares of the shipping giant fell after its profit outlook fell short of estimates.

Fed's Victory in Bank Reform

The Federal Reserve is poised to emerge with its powers relatively intact as lawmakers finalize reform.