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Jun 29, 2010

NASDAQ : Latest Forex News.: June 29th., 2010

NASDAQ

Latest Forex News



Currency Cross Rate

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ABCNews : Australia Business : Businesses less confident on future. June 29th., GMT - 5 Perú Time

Myki complaints increase
Complaints to the Public Transport Ombudsman have jumped by 30 per cent since the roll-out of the troubled Myki transport ticketing system.

Businesses less confident on future
The WA Chamber of Commerce and Industry says businesses are far less confident about the future of Western Australia's economy now than they were at the end of March.

Deadline for Kimberley gas hub agreement
 Today marks the deadline set by the Premier for an agreement to be reached between Aboriginal people and Woodside over the Kimberley gas hub.

More Business

MarketWatch : Personal Finance Stoies. Consumers, even the wealtiest are worried. June 29th., 2010

MarketWatch
Personal Finance Daily
JUNE 29, 2010

Tuesday's Personal Finance stories

By MarketWatch



Don't miss these top stories

What does the Gulf oil spill have to do with consumer confidence nationwide?

Some analysts say the oil spill is one reason the U.S. consumer confidence reading for June came in substantially lower than expected.

No doubt the environmental disaster spewing into the Gulf is extremely depressing. But unless we're talking about people who live and work along the affected parts of the Gulf, I'm not sure that disaster poses a challenge for the broader economy. Then again, it's definitely going to hit a lot of jobs and small businesses, and worry about the job market pretty much sums up consumers' feelings right now.

Some analysts also note that the consumer-confidence reading has taken a similar "double dip" in past economic recoveries -- and that in those instances the economy did not follow the confidence reading down that depressing path. Read Ruth Mantell's story today for more on why the consumer-confidence figure dropped so precipitously.

Speaking of consumers, are you out shopping yet? While retail sales in May looked lively, signs point to a slowdown in spending in June, just as you might expect given the confidence reading this month. Read Jennifer Waters's story today for more on survey data that show even the rich are putting their wallets away this month.

-- Andrea Coombes , Personal Finance editor

Rich aren't spending us out of recession

Rich Americans, seemingly tired of watching their wallets, loosened up their purse strings in May, igniting hope for a broader economic turnaround. But even the wealthy are pinching their pennies again.
See story on rich aren't spending us out of recession.


U.S. consumer confidence plummets on job worries

U.S. consumers are increasingly worried about jobs and the economy, the Conference Board said Tuesday, as it reported that its consumer confidence index plummeted to 52.9 in June -- the lowest level since March -- from a downwardly revised 62.7 in May.
See Economic Report.


INVESTING

Top adviser since 1980 is mostly in cash right now

Slow and steady wins the race. And I mean really slow -- and really steady. That is the inescapable conclusion that emerges from the Hulbert Financial Digest's three decades of tracking investment advisers' performance. Believe it or not, the adviser at the top of the rankings over those 30 years has been largely in cash for more than a decade.
See Mark Hulbert.


Two-year yields fall to record low as investors flee stocks

Yields on 2-year Treasury notes fell to the lowest on record Tuesday, as U.S. bonds benefited from worries about global growth, this time stemming from economic data in China as well as concerns about the financial health of European banks.
See Bond Report.


Dodd-Frank bill goes back to conference committee

Top congressional leaders were planning to reconvene a joint House-Senate conference committee on Tuesday to consider changes to the Dodd-Frank bank reform bill after it lost a key Republican supporter on Tuesday over a $19 billion tax on 95 of the largest financial companies.
See story on Dodd-Frank bill goes back to conference committee.


For fund managers, the letter of the day is W

Fund managers gathered here perhaps got a little indigestion along with their breakfast at the first address of the day. The managing director of Cerulli Associates got things off to a rousing start with a prediction that global funds under management this year are unlikely to repeat the not-so-spectacular growth from last year -- a 16.2% gain.
See story on fund managers' letter of the day is W.


Three stocks with improving outlooks

The second calendar quarter ends Wednesday, which means Wall Street's attention will soon turn to companies' financial results.
See SmartMoney.


SAVING & SPENDING

Ten things funeral directors won't tell you

The best protection from an overpriced funeral: shopping around.
See SmartMoney.


REAL ESTATE

U.S. home prices rise 0.8% in April: S&P

Home prices rose 0.8% in April compared with March in 20 major U.S. cities, according to the Case-Shiller home price index released Tuesday by Standard & Poor's.
See story on U.S. home prices rise 0.8% in April: S&P.


Manage your mortgage the right way

Avoid these financial pitfalls when paying down your home loan.
See SmartMoney.


Housing market in stumble mode

What's happening now: As foreclosures loom, banks get aggressive with borrowers.
See SmartMoney.


ECONOMY & POLITICS

Commentary: The three biggest lies about the economy

The counter-revolution is underway. The G-20 calls for members to slash their budget deficits. The U.S. Senate ices further aid for the unemployed. The head of the Business Roundtable slams President Obama for undermining American capitalism. Wall Street succeeds in watering down reform.
See Brett Arends.


Commentary: The 10 missteps of financial reform

Washington has shuffled the deck Wall Street plays with, hoping to create a new and safer game, but anyone who's gone back to the table after a big loss knows the score.
See David Weidner.


Much economic work remains, Obama and Bernanke agree

The U.S. economy is strengthening but much remains to be done to put Americans back to work, President Barack Obama said Tuesday.
See story on much economic work remains, Obama and Bernanke agree.


Obama, Democrats try to push energy bill forward

President Barack Obama pressed for action on a comprehensive energy and climate bill in a meeting with lawmakers on Tuesday, as key Democratic senators reportedly said they would scale back their legislation to improve its chances for passage.
See story on Obama, Democrats try to push energy bill forward.


Commentary: G-20 borrows page from Herbert Hoover's playbook

Those who cannot remember the past are condemned to repeat it. Although written decades ago, George Santayana's words aptly describe the results of the Group of 20 meeting which ended yesterday.
See Irwin Kellner.


Greeks go on strike again to protest pension, labor reforms

Greek workers walked off the job Tuesday, the latest in a series of general strikes called to protest pension and labor reforms proposed by the government in an effort to reduce the nation's soaring deficit.
See story on Greeks go on strike again to protest pension, labor reforms.


COMMENTARY

Stressed? Hate sitting like a monk? Sweat like a jock!

Endless bad news: Economy, debt, markets, business, wars, oil, politics. Yes, we're all stressed out! Have you tried to meditate? No? Why? You hate sitting! Well, join the club.
See Paul B. Farrell.

FGC BOLSA - FGC FINANCIAL MARKETS: U.S. Markets At Close. June 29th., 2010


U.S. MARKETS AT CLOSE

 FOX BUSINESS
Market Snapshot
Index Last Change %Change
DJIA 9,870.30 -268.22 2.65%
Nasdaq 2,135.18 -85.47 3.85%
S&P 500 1,041.24 -33.33 3.10%
FOX 50 761.73 -22.64 2.89% Hilighted
DIJA Chart
 Slowdown Fears Rattle Wall Street; Dow Dives 268
 Democrats Return to Drawing board on Wall Street Bill

NASDAQ

6/29/2010 4:30:00 PM ET DJ30 PointChange: -268.22 Level: 9870.30 NASDAQ PointChange: -85.47 Level: 2135.18 NQ100 PercentChange: -3.9 R2K PercentChange: -4.0 SP400 PercentChange: -3.5 SP500 PointChange: -33.33 Level: 1041.24 NASDAQ-Adv:279 Dec: 2393 NYSE-Adv:259 Dec: 2831
[BRIEFING.COM] Market participants sought safety after growth concerns triggered a global selloff that sent the S&P 500 to its lowest intraday level and closing level since November.
Sellers controlled trade since the start of the session. Their efforts were stirred by concerns that global growth might not be so strong after China, a leading force in the global recovery, had its leading economic indicators for April slashed to show a tepid 0.3% increase from the previously reported 1.7% surge.
Matters weren't helped by worries about a potential liquidity squeeze in Europe after the European Central Bank refused to extend liquidity measures to banks. Spanish banks are reportedly lobbying for the program's expiration to be reconsidered.
Though a small dose, U.S. data did nothing to quell concern among market participants. Specifically, the Consumer Confidence Index for June came in at 52.9, which was well short of the 62.0 that had been widely expected and also well below the 62.7 that was posted for the prior month.
Sellers never really let up on stocks. So successful were their efforts that only one stock in the S&P 500 -- Zimmer Holdings (ZMH 54.60, +0.03) -- was able to eke out a gain. The broad-based selloff sent the benchmark index to its lowest level of the year in late trade. It closed just a few points above that mark following from a faint flurry of buying into the close.
Corporate news items were limited and had little-to-no impact on the mood of traders. Among the announcements, 3M (MMM 78.49, -0.49) issued an in-line revenue outlook and Caterpillar (CAT 60.85, -3.55) spoke of expansion plans, but the industrial sector still sank 3.9%, which tied with the financial sector's slide for the worst performing sector.
Semiconductor stocks sank 4.6%, according to the Philadelphia Semiconductor Index. It was weakened by broader market pressure and disappointment over the latest quarterly report from Micron (MU 8.67, -1.35).
General Mills (GIS 36.90, -0.50) hiked its dividend ahead of its quarterly report. It helped the consumer staples sector limit its loss to 1.5%, which tied telecom for the sector with the least severe loss.
Given the taste for safety amid all of the pessimism, Treasuries ticked higher, so much that the yield on the benchmark 10-year Note broke below 3.00% for the first time in more than one year and the yield on the 2-year Note broke below 0.60 to a record low.
The greenback garnered support as well. It settled the session 0.5% higher against a basket of competing currencies. Most of the move came against the euro, which surrendered 0.7% against the dollar.
Gold also gained, though marginally. The August contract closed with the yellow metal priced at $1242.70 per ounce, up 0.3%, in the face of a higher dollar.
Energy contracts succumbed to the same macro concerns that rocked stocks. Natural gas futures prices fell 4.0% to $4.55 per MMBtu, while August crude oil futures fell 3.0% to close at $75.94 per barrel.
Tuesday's selloff pulled participants in from the sidelines. In turn, trading volume on the NYSE hit 1.6 billion shares after it didn't even break 1 billion shares in the prior session.