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Jul 9, 2010

MarketWatch : Personal Finance Daily .- July 9th., 2010

Friday's Personal Finance stories

By MarketWatch



Don't miss these top stories:

For most of us, nursing homes are on the list of things to think about at a later date -- or places that we hope, at all costs, to avoid.

But then life drops you smack-dab into the issue, whether you like it or not, usually when an aging parent or relative becomes ill. As Robert Powell describes in his first-person piece today, the question of whether a family member should enter a nursing home isn't an easy one to answer.

After all, there are often other options, including staying at home with an in-home health-care aide, moving in with an adult child, or moving into an assisted-living facility. And as Powell notes, the question, for his family, is even more complicated: his father is married to an able-bodied woman who does not yet need care. Where will she live if he goes to a nursing home?

Read Powell's column today for a moving look at how he and his family are approaching this difficult care-giving issue.

-- Andrea Coombes , Personal Finance editor

Caring for ailing parents from afar

In 1988, my father suffered a massive stroke. Ever since, my now nearly 80-year-old father has been fighting to maintain and enjoy a quality of life that might pass as normal and ordinary. The fight got harder about two years ago when he lost his right leg up to the knee because of diabetes. And it may get even harder still.
See Robert Powell on Retirement.


REAL ESTATE

Selling a condo? Better hope it's on the 'approved' list

Question: I own an apartment in a condominium development that I am trying to sell. I have a potential buyer who wants to use an FHA loan because of its low down-payment requirements, but he says my project is not on FHA's "approved" list.
See Realty Q&A.


Foreign buyers invade America's home front

Give me your tired, your poor...and a real estate deal. Foreign buyers are ramping up home purchases in the U.S. What states are benefiting? Is this good for America's battered real estate market? How long will this trend last? Housing guru Thomas Lawler sizes up the landscape on this special weekend edition of MarketWatch News Break.
 Listen to radio report on foreign buyers invade America's home front.


Turned off by gardening? It's a conspiracy

Millions of people love gardening. They get a primal satisfaction out of seeing flowers and shrubs and vegetables come to life in their yards each year. But millions more have tried gardening and given up, or were turned off before they ever got to the point of sticking some plants in the ground.
See story on the gardening conspiracy.


INVESTING

Mutual funds look to bank on BP

Since losing more than 40% of its market value amid the Gulf of Mexico oil spill, BP PLC stock has caught the eyes of certain fund managers who think the battered oil major not only will survive but now offers exceptional value.
See story on mutual funds look to bank on BP.

Commentary: BP is no Stupid Investment of the Week

I had schoolteachers say that there are no stupid questions, but my mailbag can attest to the fact that there are plenty of questions about stupid investments. Here are some good ones.
See Chuck Jaffe on BP is no Stupid Investment of the Week.

Commentary: Death cross has not been that bad an omen

It certainly sounds ominous -- even to an investing public already primed by a heavy dose of melodramatic pronouncements in recent weeks.
See Mark Hulbert.


ECONOMY & POLITICS

Commentary: Tempest in data teapot misses larger issue

Economists, traders and analysts are splitting mainly into two camps: slow growth versus double dip.
See Kathleen Madigan on tempest in data teapot misses larger issue.


Commentary: Lawmakers need to get off the sidelines

The battle between the Obama administration and the business sector is increasingly becoming a smack-down.
See Thomas Kostigen's Ethics Monitor.


Obama stumps for clean energy, and Reid, in Nevada

Lawmakers should invest an extra $5 billion in clean energy manufacturing tax credits to help create jobs and give the economy a boost, President Barack Obama said Friday.
See story on Obama stumps for clean energy, and Reid, in Nevada.


Worst of sovereign debt crisis is over, says ECB's Stark

The worst of the recent financial-market turmoil tied to Europe's sovereign-debt crisis appears to have passed, a top European Central Bank official said Friday.
See story on worst of sovereign debt crisis is over.


Catastrophe averted but crisis continues

Catastrophe has been averted, but the financial crisis isn't over, European Central Bank President Jean-Claude Trichet said Friday.
See story on catastrophe averted but crisis continues.


SPORTSWATCH

World Cup in South Africa comes off with nary a hitch

Like all World Cups, this one was riveting. After several dull games in the opening rounds of the group stage, the tournament came to life, as it usually does.
See SportsWatch.


LeBron had better win the title right now

LeBron James had better win the NBA title this year. By bolting Cleveland for the Miami Heat, he puts the pressure squarely on his broad shoulders. He had better win.
See Jon Friedman's Media Web.


In Spain, World Cup is larger than a more difficult real life

In the minds of many Spaniards here, there will perhaps be no bigger "stress test" than the one that's coming on Sunday when virtually the entire country will grind to a halt to watch "La Roja" take on Holland for the World Cup title.
See story on World Cup is larger than a more difficult real life, in Spain.


THE GULF OIL SPILL

BP to remove well cap to install new one

BP PLC plans to remove a cap on its rogue gushing well in the Gulf of Mexico Saturday, part of what might be a three- or four-day effort to install a more efficient cover, officials said Friday.
See story on BP to remove well cap to install new one.


Appeals court rejects effort to restore drilling moratorium

A federal appeals court rejected a bid by the federal government to restore a moratorium on offshore oil drilling, reports said late Thursday.
See story on appeals court rejects effort to restore drilling moratorium.

CNBC : Eveninig Brief.- Latest Stories



LATEST STORIES


»click here to see the latest top stories from CNBC.com
LATEST VIDEO

  • CNBC.com Market Outlook
    CNBC's Courtney Reagan highlights the week's top business news stories, tells viewers what stocks the pros are recommending and looks ahead to next week's headlines.
    » Watch Video
The King's New Court
Discussing Miami Heat's chance at profitability this year, with Eric Woolworth, Miami Heat president of business operations.
» Watch Video
   

Big Tax Hikes Ahead?
Discussing the tough decisions to make on whether to raise taxes or not, with Sen. Byron Dorgan (D-ND).
» Watch Video

Cavs Owner Goes Off!
Discussing whether the type of outburst is appropriate for the CEO and leader of a sports team, with David Caruso, Yale University for org. development and Eric Dezenhall, Dezenhall resources.
» Watch Video

Obama on Economy
President Barack Obama discusses the economy, Senate leader Harry Reid's accomplishments and his plans to accelerate the recovery and increase employment.
» Watch Video

Mining Interactive : Zeal Intelligence Weekly - China Commodities Sentiment by Adam Hamilton. July 9th., 2010



Dear Friends:
Adam Hamilton has posted his weekly Zeal Intelligence Newsletter on the Mining Interactive Website. Click here:
Have a great weekend and - - - Stay Tuned!!

Regards,Nick L. Nicolaas
Nick L. Nicolaas
President & CEO
Mining Interactive Corp.
www.mininginteractive.com

Direct 24/7: +1 (604) 657-4058
Main Office: +1 (604) 569-0800
Fax: +1 (604) 569-0758
Skype: nicknicolaas
nick@mininginteractive.com

Vancouver Stock Exchange Building (1929)
Suite 818 - 475 Howe Street
Vancouver, BC, Canada V6C 2B3

Mining Interactive : Nick Nicolaas. European Country Tour Rare Earth Buying Opportunity ¡ Finding Investing Strategies..! July 9th., 2010


07/07/10 ‘MIDWEEK’ with Nick Nicolaas

“Go Holland Go”

European Country Tour
Rare Earth Buying Opportunity

Nick Nicolaas embarks on a European fact finding trip to get a grasp on investing strategies and views from the EU investor’s perspective.
Nick also suggests several companies in the Rare Earth sector that are ripe for the buying.






Stay Tuned for Midweek with Nick Nicolaas with
‘Postcards from Europe’
Regards,

MarketWatch : Weekly Roundup .- Top Ten Market Stories July 5-9

MarketWatch
Weekly Roundup
JULY 09, 2010

Top ten MarketWatch stories July 5 - 9


Appeals court rejects oil-drilling moratorium

On GE, investors and Wall Street don't agree

NIH scientists find antibodies that block most HIV

Google's license in China is renewed

Mark Hulbert: Outlook for euro and dollar has changed

U.S. weekly jobless claims fall 21,000 to 454,000

Wells Fargo to cut 3,800 jobs, shut subprime unit

State St. gets bump after upping outlook

Workers' salaries lost ground in past decade

The Supreme Court case against Janus could prove costly for investors

By MarketWatch



NEW YORK (MarketWatch) - Stocks climbed Friday, capping their best week in nearly 12 months, as optimism ahead of the second quarter earnings season powered a strong rebound from the market's worst levels this year. The Dow has climbed 5.3% this week, its best weekly performance since the week ended July 17, 2009. "The earnings are expected to again beat expectations as they have the past couple quarters, but what they're looking for is the guidance," said Roy Williams, chief executive of Prestige Wealth Management. "That will be the big indicator."

Also please remember to watch our Week Ahead videos for markets in Asia, Europe and the U.S.

See video report on U.S. week ahead .

See video report on Asia's week ahead.

See video report on Europe's week ahead

Greg Morcroft, assistant managing editor.

 Europe Week Ahead: L'Oreal, Burberry, H&M in focus

 U.S. Week Ahead: Earnings Season Begins

A federal appeals court rejected a bid by the federal government to restore a moratorium on offshore oil drilling, reports said late Thursday. The moratorium was originally lifted by U.S. District Judge Martin Feldman on June 22. Read full MarketWatch story on legal fight

General Electric Co. (GE) shares have taken a swift and steep tumble in recent weeks, clobbered by concerns that the global economy again is faltering. Reaction to the move falls roughly into two camps: those investors betting the stock has further to fall and Wall Street analysts who see GE as a buying opportunity. Read MarketWatch story on GE.

Government scientists have identified two human antibodies they believe can prevent 90% of known HIV strains from infecting cells, the National Institutes of Health announced Thursday. According to the agency, NIH scientists believe the two antibodies can be harnessed create more potent HIV vaccines or better treatments for the condition. Read MarketWatch story on HIV research breakthrough.

Google Inc. (GOOG) said Friday that its license to operate its Internet-search services in China was renewed by the country's authorities, giving a boost to the company's shares. The announcement appeared to be a step toward resolving a bitter dispute between China and Google over the Internet giant's decision not to censor results in the Asian nation. Read MarketWatch story on latest development between Google and China.

Can you believe the euro? The euro is today above $1.26 -- a gain of more than 4% for the week alone, and 6% higher than its low of one month ago. Read MarketWatch's story about the resurgent euro.

The number of people filing first-time claims for unemployment benefits sank 21,000 in the latest week to a still-high 454,000, maintaining a recent see-saw pattern. Jobless claims have bounced up and down over the past six months, but they have shown no overall improvement, according to data from the Labor Department. Economists surveyed by MarketWatch had expected initial claims for the week ended July 3 to fall to 458,000. Read MarketWatch story on jobless claims.

Wells Fargo Co. (WFC) said late Wednesday it will cut 3,800 jobs and the banking giant will close a business unit that specialized in subprime and other loans issued through its consumer finance stores. Wells Fargo said that as part of the restructuring, it will close 638 Wells Fargo Financial stores, consolidate its consumer-finance division and get out of the business of making non-prime portfolio mortgages. Read MarketWatch story about Wells Fargo.

State Street Corp. (STT) said this week that it will record higher-than-expected second-quarter net income of 93 cents a share on an operating basis, on $2.2 billion in revenue. Analysts polled by FactSet Research estimated an adjusted profit of 72 cents on revenue of $2.16 billion. The trust bank also said it boosted liquidity for clients, removing redemptions limits and reducing its potential liability. Standard & Poor's Equity Research raised its 2010 operating earnings estimate to $3.73 from $3.29. Read about State Street's outlook at MarketWatch.

Losing a job is a scary prospect for families during a recession, but there's a less-noticed problem that also hurts workers: stagnating wages. Median weekly wages, when adjusted for inflation, fell slightly for both high school and college graduates from 2000 to 2009, according to a recent analysis by the Economic Policy Institute, a Washington think tank. Read MarketWatch story about wage stagnation.

Nearly eight years after the biggest scandal in mutual fund history, the U.S. Supreme Court has agreed to hear a case forged from those troubles. But rather than paying back shareholders for damages done long ago, this case could wind up changing the industry and costing fund investors big if the high court finds against management. Read MarketWatch commentary on Janus case.

FGC BOLSA - FGC FINANCIAL MARKETS : U.S. Markets at Close. July 9th., 2010




US MARKETS AT CLOSE




Market Snapshot
Index Last Change %Change
DJIA 10,198.03 +59.04 0.58%
Nasdaq 2,196.45 +21.05 0.97% Hilighted
S&P 500 1,077.93 +7.68 0.72%
FOX 50 784.05 +3.69 0.47%
DIJA Chart
 Markets Storm into Earnings Season
 Analysis: Money Managers See No Double-Dip



Index Detail:Dow Jones Industrial Average

INDEX
Price
10,198.03
Today's Change
+59.04 (0.58%)
Open
10,137.90
Prev Close
10,139.00
Day's High 10,201.80
52-wk High 11,258.00
Day's Low 10,118.40
52-wk Low 8,093.31

Real Clear Politics : July 9th., 2010

Real Clear Politics Friday

D.C. Spending Needs Radical Reform - Caroline Baum, Bloomberg
End the Silly 'Argument' Over Climate - Eugene Robinson, Washington Post
Climate Science Remains an Uncertain Shambles - Terence Corcoran, NP
Obama Was Supposed to Be a Conciliator - Ron Smith, Baltimore Sun
President Takes on GOP Extremists - Steve Benen, Washington Monthly
We Got Screwed in the Spy Swap - Reihan Salam, The Daily Beast
Will Obama Sue Rhode Island Next? - Andrew McCarthy, National Review
Lower Taxes Exacerbate Recession - David Sirota, In These Times
Government's Catastrophic Response to Oil Disaster - Jon Utley, Reason

RCP Morning Edition

Can Democrats Win Back Independent Voters? - Dan Balz, Washington Post
The Obama-Pelosi Lame Duck Strategy - John Fund, Wall Street Journal
The Problem for Business Isn't Obama - Paul Krugman, New York Times
Why Aren't Obama's Policies Working? - Amity Shlaes, Washington Post
Restoring Rule of Law on Wall St. Key to Recovery - James Galbraith, TNR
Public Opposes Suit Against AZ Immigration Law - Frank Newport, Gallup
Why We Need Modest Immigration Reform - Conor Friedersdorf, Forbes
The Pros & Cons of the Reid-Obama Nexus - Jon Ralston, Las Vegas Sun
Obama Faces Left Wing Spiral Trap - Dick Morris, DickMorris.com
Why Hezbollah's Disneyland Portends War - Andrew Tabler, Foreign Policy
Sanctions Alone Won't Work on Iran - Robb and Wald, Washington Post
Outlook for Small Businesses Getting Bleaker? - Sharon Bernstein, LAT
The Town Hall Revolt, One Year Later - Peggy Noonan, Wall Street Journal
The Establishment's Chicken Little Consensus - David Paul Kuhn, RCP
David Brooks' Neo-Hooverite Plea - Bob Shrum, The Week
Barack Obama's Selective Modesty - Charles Krauthammer, National Review
Lebron Joins Modell in Infamy - Bill Livingston, Cleveland Plain Dealer
RCP Blog: Democracy Corps' Prophecy of Doom? | WV Senate Update

Editorials

Welcome Back, Mr. President - Las Vegas Review-Journal
How to Boost Confidence in the Economy - Christian Science Monitor
Obama Deftly Bypasses 'Party of No' With Recess Pick - Baltimore Sun
The President's One Man Death Panel - Investor's Business Daily

FGC BOLSA - FGC FINANCIAL MARKETS : MarketWatch - Industry Financial Services.- Financial Climb... July 9th., 2010



                                                            



INDUSTRY - FINANCIAL SERVICES


Financial Stocks: Financials climb; Invesco up nearly 3%
 
By April H. Lee MarketWatch
7/9/2010 11:35:00 AM



Shares of leading U.S. financials gain, topping a week buoyed by upbeat outlooks on earnings and the global recovery. 


 
By MarketWatch
7/9/2010 10:52:00 AM



In the polite world of international economics, the International Monetary Fund and the European Central Bank are engaging in the verbal equivalent of hand-to-hand combat, writes Steve Goldstein. 

FOX BUSINESS: BP for Sale? . July 9th., 2010


British Petroleum (BP)
BP for Sale?EXCLUSIVE BP maintains it's not for sale, but Wall Street bankers say the oil giant is being bombarded with offers and is considering all of them.

THE MOST POWERFUL NAME IN BUSINESS NEWS

Money Managers: No Double Dip

Is the World Broke? The market is responding to economic fears..but is it verified in the statistics?

Lackluster Start for Stocks

Wall Street started flat to slightly lower as the markets attempt to preserve this week’s big gains.

Spot Yuan Edged Higher

With the People's Bank of China setting a higher mid-point the currency rallied against the dollar.

China Renews Google's Web License

Google said on Friday that the Chinese authorities had renewed its license to operate a Web site.

EU Set to Approve Comcast/NBCU Deal

Comcast's plan to buy a controlling stake in NBC Universal is set to win EU regulatory approval.

RTTNews : Daily Market Analysis.- Lackluster Fare In The Offing Amid Absence Of Catalysts. July 9th., 2010

Daily Market Analysis Fri Jul 9 09:21 2010 

Jul 9, 2010 Lackluster Fare In The Offing Amid Absence Of Catalysts - RTTNews Daily Market Analysis The major U.S. index futures are pointing to a lower opening on Friday, with the sentiment reflecting fears that the markets may have run up ahead of the fundamentals. The U.S. markets have seen a scintillating run up in the past three sessions and the lack of any major catalysts could keep traders on the sidelines. The impending second quarter reporting season may also compound the anxiety of traders. The Asian markets ended higher for the second straight session today, while the European markets' momentum seems to be waning, with the averages in the region having pulled back notably after a solid start. Full Article

RTTNews : Daily Stocks to Watch.- Material Sciences Corp. Turns to Q1 Profit as Revenue Jumps 33% -. July 9th., 2010

Daily Stocks to Watch Fri Jul 9 09:02 2010 

Stocks To Watch

Jul 9, 2010 Material Sciences Corp. Turns to Q1 Profit as Revenue Jumps 33% - Stocks to WatchBefore the opening bell on Friday, Material Sciences Corp. (MASC.OB) revealed it turned to a profit in its first quarter, helped by higher revenues on improved demand. The Elk Grove Village, Illinois-based provider of material-based solutions for acoustical and coated applications reported a net income of $4.0 million, or $0.31 per share, compared to a net loss of $4.1 million, or $0.30 per share, in the prior-year period. Net sales for the quarter rose 33.4% to $42.5 million from $31.8 million for the same period last year. Of the company's two business segments, sales at Acoustical Materials jumped by 40.5% to $21.4 million in the first quarter on higher demand as automotive builds increased in most regions. Full Article
Jul 9, 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 .- Bank Of Korea Raises Key Rate To 2.25%. July 9th., 2010

Morning Market Briefing Fri Jul 9 09:01 2010 

Economic News

Jul 9, 2010 Bank Of Korea Raises Key Rate To 2.25%South Korea's central bank has raised its key interest for the first time since the global financial downturn as the domestic economy is recovering at a faster than expected pace. Full Article
Jul 9, 2010 U.S. Exchange Rate Report: Chinese Currency Undervalued The U.S. Treasury has released its much delayed exchange rate report to Congress, in which it said the yuan is undervalued. However, it stopped short of labelling China as a currency manipulator. Full Article
Jul 9, 2010 Trichet Backs Bank Stress Tests European Central Bank President Jean-Claude Trichet said Friday that the stress tests that are being held by the European Union on eurozone banks is a "step in the right direction" and will help restore confidence in the region. Full Article
Jul 9, 2010 French May Industrial Output Growth Tops Expectations French industrial production rebounded more than expected in May on strong energy and automobile output, supporting the view that the economy grew faster in the second quarter. Full Article
Jul 9, 2010 U.K. June Output Prices Unexpectedly Drop; First Fall Since November 2008 U.K. output prices dipped for the first time since November 2008 signaling easing inflationary pressure in the economy. Full Article
Jul 9, 2010 U.K. Visible Trade Deficit Swells In May U.K. visible trade deficit unexpectedly widened in May as the growth in imports outpaced the rise in exports. The feeble growth in exports adds to existing concerns about the economic recovery. Full Article

Earnings News

Jul 9, 2010 PriceSmart Q3 profit up 39%, beats estimate; June sales rise 19%Friday, PriceSmart Inc. (PSMT) reported a 38.5% surge in profit for the third quarter, reflecting a 13.7% growth in revenue. Both earnings and revenue came in above the Street view. Net warehouse sales increased 13.9% year-over-year. The company noted that 27 warehouse clubs were in operation as of May 2010, compared to 26 clubs a year earlier. PriceSmart also revealed that June sales went up 19.0% from the past year. Full Article

Corporate News

Jul 9, 2010 Google says China renews search engine licenseFriday, Google Inc. (GOOG) said the Chinese government has renewed its internet license, giving it clearance to resume providing web search and other online services to Chinese web surfers. Google had ceased its search engine operations in the world's largest populated country since March, over issues related to hacking of Gmail accounts and censorship of Google search results. Official statements are yet to be posted on the website of China's ministry of industry and information technology. Full Article
Jul 9, 2010 Air Products sweetens Airgas bid to $5.5 blnThursday, Air Products & Chemicals Inc. (APD) raised its fully financed bid for Airgas, Inc. (ARG) to $63.50 per share in cash from $60.00 per share, lifting the value of the proposition to $5.5 billion. The company expects the purchase to be immediately accretive to its earnings on both a GAAP and cash basis, excluding one-time costs. Air Products said it is also willing to assume $1.7 billion debt of the target company. Full Article

The Washington Post Opinions. July 9th., 2010


Opinions  Friday, July 9, 2010

!

Charles KrauthammerThe selective modesty of Barack ObamaObama is convinced of his own magnificence, and hardly any of his own country's.
 
David IgnatiusThe doctor is (finally) inThe recess appointment of Donald Berwick comes at a crucial time for health reform.
 
Michael GersonThe GOP rides a risky waveRepublicans are riding on a massive wave towards a rocky shore.
 
Eugene RobinsonOn climate, let cool heads prevailIt's time to end the silly 'argument' over whether climate change is real.
 
Michael McDonald and Micah AltmanPulling back the curtain on redistrictingPoliticians shouldn't be the only ones engaged in the process of redistricting.
 
Amity ShlaesFollowing in FDR's misstepsMost debates miss where the Obama administration has really gone wrong.
 
Charles Robb and Charles WaldA show of force for IranThe stakes are too high to rely merely on sanctions and diplomacy.
 
Ann TELNAES

Click on the image for the animation.