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Jul 14, 2010

NASDAQ FOREX : Latest Forex News

NASDAQ FOREX

Latest Forex News

NFA : Recent Enforcement Actions .- July 14th., 2010

National Futures Association


Recent Enforcement Actions
In the second quarter of 2010, NFA's Business Conduct Committee issued Decisions, Member Responsibility Actions and Final Orders in Registration Cases against the following NFA Member firms and individuals. Click on the name for more detailed information.




Decisions in Disciplinary Cases
Shahzad Akram
Cheryl A. Arts
AVS Carter Financial, Inc.
Brewer Futures Group LLC
Steven J. Brewer
Gina M. Campise
City Capital Management LLC
Luke M. Coleman
Commodity Futures & Options Service, Inc.
Global Futures Trading
Integrity FX LLC
JKV Global Enterprises Inc.
LaSalle Global
Jonathan Lee
Nabil P. Niman
Jason Ritchie
Carlo Scevola
Alexander M. Silverman
Dan E. Stamer
Michael W. Victor
Windsor Wealth Management LLC
Bryan L. Wright
Member Responsibility Actions
System Capital, LLC
Joshua W. Wallace

Final Orders in Registration Cases
Nicholas Hegarty
Justin S. Maese

ABC News : Australia - Top Stories. July 14th., 2010


CNBC : Evening Brief : Evening Brief: Economic Recovery Is Faltering As Shoppers Head to Sidelines. July 14th., 2010


 LATEST STORIES



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


LATEST VIDEO

White House Meets With Business Leaders
Valerie Jarrett, a senior adviser to the president for intergovernmental affairs and public engagement, tells CNBC the president's primary objective is to grow the economy and provide the rules of the road.
» Watch Video
Call to the Floor: Heinz
Shares of Heinz are up 24% in the last year. Heinz CEO Bill Johnson discusses the company's success and growth outlook with the Fast Money crew.
» Watch Video

Gov. Pawlenty on Budget Deficits
White House's mid-session budget review is due Thursday, with Gov. Tim Pawlenty, (R-MN).
» Watch Video

Ross' Latest Announcement
Wilbur Ross is back on the prowl expanding his investment empire, with Wilbur Ross, WL Ross & Co. chairman & CEO and Mac Crawford, former CVS Caremark chairman.
» Watch Video

MarketWatch: Personal Finance Daily .- Few of us trust the experts with our money

MarketWatch
Personal Finance Daily
JULY 14, 2010

Wednesday's Personal Finance stories

By MarketWatch



Don't miss these top stories:

Many of us are more worried about our finances now than we were two years ago, according to a new survey. Small surprise given the direction of the labor and housing markets; who isn't worried? For just one more new and worrisome data point, consider that mortgage applications to buy a home dropped to a 14-year low last week. The housing market appears to be going nowhere fast.

But our money fears have not translated into a rush to the offices of financial advisers and planners. Apparently, we either don't trust the experts or can't afford them.

Read our story today for more on how a relatively small portion of Americans hire financial advisers, and for more details on the nation's mood regarding the overall economy and where it's headed.

Also, don't miss Kristen Gerencher's Health Matters blog for a look at how CPR training has changed dramatically -- at least it has since I last learned about it (was that in high school?). Apparently, there's no longer a lot of talk about the Heimlich maneuver and mouth-to-mouth resuscitation.

I guess our economy could use some first aid right about now.

-- Andrea Coombes , Personal Finance editor

Despite money fears, few hire a financial adviser

While more Americans are concerned about their finances now than two years ago, they're not flocking to financial planners for help, according to a survey by the Certified Financial Planner Board of Standards, released Tuesday.
See story on fewer Americans hiring a financial adviser despite money fears.


HEALTH CARE

CPR: Lifesaving training you hope you never have to use

If a colleague suddenly slumps over his keyboard and loses consciousness, would you know what to do until emergency medical services arrived?
See Kristen Gerencher's Health Matters blog.


REAL ESTATE

Mortgage applications to buy homes hit 14-year low

The number of mortgage-loan applications for home purchases dropped to its lowest level in 14 years last week, the Mortgage Bankers Association said Wednesday.
See story on mortgage applications to buy homes hitting 14-year low.


ECONOMY & POLITICS

Consumers sour on spending

The dreaded slowdown on top of the recession. The Commerce Department reported that U.S. retail sales fell 0.5% in June to a seasonally adjusted $360.2 billion, the first back-to-back decline in sales in more than a year, a signal that consumer spending is waning and the economic recovery could be in jeopardy.
See MarketWatch First Take.


Economists cut forecast for second-quarter growth

After a spate of weaker-than-expected U.S. economic data over the past week, top economists have lowered their forecasts for U.S. growth and now think the economy expanded at a tepid 2.7% annual pace in the second quarter, matching the first-quarter's growth.
See Economic Report.


Fed to mull stimulus moves, just in case

Federal Reserve officials agreed in June that it would be a good idea to study what to do if the economy were to worsen severely, according to a summary of the closed-door June meeting released on Wednesday.
See The Fed.


Watchdog sees little evidence TARP helped small banks

There is little evidence that capital injections provided at the height of the financial crisis to smaller banks helped strengthen that sector, a congressional oversight panel reported Wednesday.
See story on watchdog sees little evidence TARP helped small banks.


Business versus Obama: is whining a good strategy?

When in doubt, whine about the government. That seems to be the latest corporate strategy making the rounds in U.S. big business.
See Darrell Delamaide's Political Capital.


Suspect in Russian spy case worked at Microsoft

The most recently disclosed suspect in the Russian spy case that surfaced last month worked as a software tester at Microsoft Corp., the company acknowledged Wednesday.
See story on suspect in Russian spy case worked at Microsoft.


PERSONAL TECH

Has the iPhone squashed the BlackBerry for good?

A recent survey lends some hard proof to the trend many consumers and investors have already noticed -- the BlackBerry is dying.
See story on has the iPhone squashed the BlackBerry for good?

THE WALL STREET JOURNAL - COMMERCIAL : Aecom Buys Tishman Construction. July 14th., 2010

THE WALL STREET JOURNAL

Aecom Buys Tishman Construction

Aecom Technology Corp. has acquired Tishman Construction Corp. for $245 million, in a deal that combines one of the world's largest engineering and design firms with the storied New York-based construction business.
The companies have overseen some of the world's largest complex construction projects. Los Angeles-based Aecom is currently working on New York City's new Second Avenue subway and Saadiyat Island, a $30 billion development off the coast of Abu Dhabi.

Tishman, Aecom Projects

See some of the firms' major buildings and construction projects.
Bloomberg News
Tishman's signature construction projects include the original World Trade Center; MGM Mirage's CityCenter in Las Vegas; and the new Goldman Sachs Group Inc. headquarters in Lower Manhattan. It's also handling the construction of One World Trade Center, which at 1,776 feet is expected to become the tallest building in the U.S.
The U.S. construction industry continues to struggle and some U.S. firms look abroad for new sources of business. Both Aecon and Tishman have weathered the downturn, benefiting from increased government spending on infrastructure world-wide, even as private-sector construction has sputtered.
Economists expect spending on U.S. nonresidential construction to drop 20% in 2010 compared with last year, according to a survey released Wednesday by the American Institute of Architects.
"For the most part, construction still seems to be dead in the water," said Ken Simonson, chief economist for the Associated General Contractors of America.
A publicly traded company with $6 billion in annual revenues and 45,000 employees, Aecom derives roughly three-quarters of its business from government contracts. Tishman, a closely held firm with about $1 billion in revenue, generates about 40% of its business from public-sector work. Last year Tishman opened an office in Abu Dhabi, where it is developing several projects including an Angsana Resort and Spa.
The acquisition of Tishman expands Aecom's construction-management unit, which is among the higher-margin businesses in the company's stable. Aecom, originally a unit of chemicals company Ashland Inc., has grown largely through acquisition, acquiring 36 businesses around the world — from architecture firms to engineering outfits to environmental companies—over the past five years. The company is paying for Tishman with a combination of cash and stock.
Tishman was founded in New York in 1898 by the great-grandfather of the company's current chairman and chief executive, Daniel Tishman. Though connected decades ago, the company has no business relationship with Tishman Speyer Properties, the prominent landlord that has run into financial woes with some of its top-of-the-market real-estate deals.
Another related company, Tishman Hotel & Realty LP, whose stable of properties includes the new Intercontinental New York Times Square, is also not part of the transaction.
Mr. Tishman, 55 years old, will become a vice chairman of Aecom and a member of its board.
"When we first started talking I said 'Dan, are you going fishing?' and he said 'No I'm not,"' said John Dionisio, Aecom's CEO. "If he was leaving, this deal wasn't happening."
In 4 p.m. New York Stock Exchange composite trading, Aecom shares stood at $24.17, down 17 cents, giving the company a $2.77 billion market capitalization.

NYT : Business.- Analysts Warn of Risks Threatening China’s Banks. July 14th., 2010


Analysts Warn of Risks Threatening China’s Banks



SHANGHAI — A week after the Agricultural Bank of China raised nearly $20 billion from global investors in one of the biggest stock offerings in history, analysts are warning about growing risks to China’s banking system.
A report released on Wednesday by Fitch, the credit ratings agency, said Chinese banks were increasingly engaging in complex transactions that hid the size and nature of their lending, obscuring hundreds of billions of dollars in loans and possibly even masking a coming wave of bad real estate and infrastructure loans.
The report also said that Chinese regulators significantly understated loan growth in the first half of the year, by 28 percent, or about $190 billion, and that many banks continued to secretly shift loans off the books, resulting in a “pervasive understatement of credit growth and credit exposure.”
“The growing amount of credit moving out of the banking system through these channels is one of the most disconcerting trends we’ve seen in China in recent years,” Charlene Chu, a Beijing-based banking analyst at Fitch, said of the practice of repackaging loans and moving them off bank balance sheets.
While China’s economy remains robust, the report is troubling because the country’s recovery has been fueled by aggressive lending and soaring property prices. Lending by state-run banks was one of China’s most aggressive forms of economic stimulus last year, but analysts constantly warned that banks could face the risk from overbuilding and nonperforming loans.
Beijing is trying to tame housing prices, rein in overly aggressive lending and stop banks from shifting loans off their books.
China’s biggest banks, like Bank of China and China Construction Bank, are relatively healthy, analysts say. But many banks could face sizable risks if borrowers failed to repay the loans.
The Fitch report does not name any banks specifically, but it raises concerns about the health of China’s banks as many begin to raise capital through initial public offerings. The Agricultural Bank begins trading on Thursday in Shanghai, while three other big state banks, including the Bank of China, have each raised billions of dollars in public listings in the last five years.
Analysts say that trying to rein in growth is a delicate and precarious balancing act and that even regulators are struggling to keep up with the rapid innovation in the banking system.
Chinese banks reported a sharp drop in lending in the first half of the year after record amounts in 2009, suggesting that the economy was growing at a strong clip with more normalized lending.
But Fitch said on Wednesday that lending had continued to be aggressive — powering the economy, but raising the risk of nonperforming loans.
Much if the lending through off-balance-sheet channels is fueled by privately owned trust companies that are partnering with banks and engaging in complex deals that involve repackaging loans into investment products — akin to an informal type of securitization.
The deals are essentially disguised loans, analysts say. Beijing has tried repeatedly to stop the practice, but analysts say that banks and trust companies have come up with innovative ways around the rules.
Last week, the China Banking Regulatory Commission ordered banks to stop working with trust companies to securitize or repackage loans, according to industry analysts. But the regulator made no official announcement.
A spokesman in Beijing for the commission declined to comment on Wednesday, insisting that senior officials needed to be alerted to the request for an interview.
Analysts are examining what appears to be a widespread practice of funneling billions of dollars into real estate and government infrastructure projects through off-balance-sheet deals with trust companies.
Stephen Green, a Shanghai-based analyst at Standard Chartered Bank, said trust companies in China were acting as intermediaries and partnering with banks to raise and then lend money to a variety of projects.

RTTNews: Evening Market Wrap : Stocks End Mixed As Deluge Of News Polarizes Sentiment - U.S. Commentary . July 14th. 2010

Evening Market Wrap  Wed Jul 14 17:01 2010 

Commentary

Jul 14, 2010 Stocks End Mixed As Deluge Of News Polarizes Sentiment - U.S. Commentary Stocks ended a volatile session on a mixed note on Wednesday, as traders weighed upbeat earnings news against some concerns on the economic front. While the S&P 500 finished marginally lower, the Dow and the Nasdaq closed higher for the seventh straight session. Full Article

Economic News

Jul 14, 2010 Mortgage Demand Drops, Purchase Apps At Lowest Since 1996Overall demand for mortgages dropped last week, led by another decrease in mortgage purchase applications, which fell to their lowest levels in more than 13 years. Full Article
Jul 14, 2010 Retail Sales Fall In June Amid Drop In Auto And Gas SalesWith auto and gasoline sales showing notable decreases in the month of June, the Commerce Department released a report Wednesday morning showing that retail sales for the month fell by more than economists had been anticipating. Full Article
Jul 14, 2010 Fed Downwardly Revises Growth Forecast But Still Expects RecoveryWhile the minutes of the latest Federal Reserve meeting released Wednesday show that members of the Federal Open Market Committee continue to anticipate a moderate recovery in economic activity, the pace of growth is now expected to be slower than previously anticipated. Full Article

Corporate News

Jul 14, 2010 Corus Entertainment Posts Profit In Q3Canadian media and entertainment company Corus Entertainment Inc. (CJR_B.TO, CJR) Wednesday reported a profit for the third quarter, compared with a loss last year, reflecting strong Radio and Television ad revenue growth. Full Article
Jul 14, 2010 EU Approves Transatlantic Joint Business, British Airways-Iberia MergerBritish Airways Plc (BAY.L, BAIRY.PK) said Wednesday that Europe's competition watchdog, the European Commission, has approved its proposed merger with Spanish flag carrier Iberia Lineas Aereas de Espana SA and also a transatlantic alliance between British Airways, Iberia and American Airlines, Inc. Full Article
Jul 14, 2010 Fresnillo Says Q2 Silver, Gold Production Hit Record LevelPrecious metals mining company Fresnillo plc (FRES.L) Wednesday reported a 1.4% increase in silver production for the second quarter, while gold production grew 33.9% to a new record, driven by efficient ramping-up of production at Soledad-Dipolos. Full Article
Jul 14, 2010 London Stock Exchange Q1 Revenue Edges UpBourse operator London Stock Exchange Group Plc (LSE.L) reported Wednesday a slight increase in revenues for the first quarter, as a 6% drop in Capital Markets revenues were offset by strong growth in Technology Services revenues. Full Article
Jul 14, 2010 ICAP Q1 Adj. Pre-tax Profit Up 5%Interdealer broker ICAP Plc (IAP.L), Wednesday, in its interim management statement for the first quarter ended June 30, said its adjusted profit before tax for the quarter grew 5% as revenues increased 8% from the same period last year. Full Article
Jul 14, 2010 Rio Tinto Q2 Iron Ore Production Drops 2%Mining giant Rio Tinto plc (RTP, RIO.L, RIO.AX) Wednesday said its second-quarter global iron ore production dropped 2% from the year-ago period, while it increased 15% for the first half. Full Article
Jul 14, 2010 BP Halts Well Integrity Test For More Analysis Of Testing ProcedureTroubled oil giant BP plc (BP, BP.L) said the integrity test on the damaged MC252 well could not be started on Tuesday, as National Incident Commander Thad Allen said additional analysis of the well testing procedure should be performed before starting the well integrity test. Full Article
Jul 14, 2010 EBay Sued For $3.8 Bln In Patent Infringement LawsuitOnline auctioneer EBay Inc. (EBAY) has been sued for at least $3.8 billion by Connecticut-based XPRT Ventures LLC, which has accused the e-commerce giant of infringing six patents to develop online payment systems such as PayPal. Full Article
Jul 14, 2010 Progressive Q2 Profit Down 15% On Investment LossesAuto insurance group Progressive Corp. (PGR) on Wednesday reported a 15% decline in profit for the second quarter from last year, hurt by investment losses. However, net premiums rose for the quarter and the total number of auto policies increased in June. Full Article
Jul 14, 2010 Zumiez Not To Pursue West 49 ProposalCanadian action sport retailer West 49 Inc. (WXX.TO), which is to be acquired by Australian apparel retailer Billabong International Ltd.(BLLAF.PK), said Wednesday that Zumiez, Inc. (ZUMZ) discontinued its plans to make a superior offer to the company, citing disagreements on the terms of the due diligence process. Full Article

Energy

Jul 14, 2010 Oil Retreats As Fed Downgrades Growth ViewOil prices reversed from above $78 to end lower Wednesday, as a downgrade to economic growth forecast in the minutes of the latest FOMC meeting overshadowed data showing a bigger-than-expected draw down in crude inventories. Full Article

Forex Top Story

Jul 14, 2010 Dollar Falls Further As Consumers Remain SkittishThe dollar extended its recent losses versus other majors on Wednesday amid mounting evidence that the US economic recovery is dying out. Full Article

Political News

Jul 14, 2010 NAACP Passes Resolution Condemning Racist Elements In Tea PartyThe National Association for the Advancement of Colored People, or NAACP, announced Tuesday that its delegates have passed a resolution to condemn certain elements of the Tea Party as racist. Full Article
Jul 14, 2010 Poll Shows More Americans View Former VP Gore UnfavorablyA new Gallup poll released Wednesday showed that, for the first time since 2002, more Americans have an unfavorable view of former Vice President Al Gore than have a favorable view of him. Full Article
Jul 14, 2010 Brown Will Not Support DISCLOSE ActOne day after saying that he would support the Democrats' financial regulatory reform bill, Senator Scott Brown, R-Mass., stated Wednesday that he would oppose the Democrats' campaign finance reform bill. Full Article
Jul 14, 2010 Bentley Wins GOP Nomination In Alabama's Gubernatorial RaceState Representative Robert Bentley won the Republican nomination for governor in Tuesday's run-off election in Alabama's gubernatorial race. Full Article

Stocks To Watch

Jul 14, 2010 In the spotlight…Clouds are finally lifting for the solar energy sector and this company, which is transitioning from a semiconductor-dominant philosophy to a solar dominant one, may bask in the glow. Full Article

FGC BOLSA - FGC FINANCIAL MARKETS : U.S. Markets at Close. July 14th., 2010




U.S. MARKETS AT CLOSE




Market Snapshot
Index Last Change %Change  
DJIA 10,366.72 +3.70 0.04% Hilighted
Nasdaq 2,249.84 +7.81 0.35%  
S&P 500 1,095.17 -0.17 0.02%  
FOX 50 798.24 -0.05 0.01%  
DIJA Chart
 
 Dow Ekes Out Seventh Day of Gains
 Stage Set for Final Votes on Wall Street Reform Bill

NASDAQ
7/14/2010 4:30:00 PM ET DJ30 PointChange: +3.70 Level: 10366.72 NASDAQ PointChange: +7.81 Level: 2249.84 NQ100 PercentChange: +0.5 R2K PercentChange: -0.4 SP400 PercentChange: -0.2 SP500 PointChange: -0.17 Level: 1095.17 NASDAQ-Adv:1092 Dec: 1505 NYSE-Adv:1331 Dec: 1629
[BRIEFING.COM] Better-than-expected earnings and upside guidance from tech bellwether Intel drove the Dow and Nasdaq higher for the seventh straight session, but the S&P 500 settled fractionally below the neutral line for an anticlimactic end to its recent streak of gains.
A stellar report from Dow component Intel (INTC 21.36, +0.35) provided investors with a picture of an improved business environment and sent tech stocks to a 0.8% gain, collectively. The tech sector couldn’t quite extend its gain above its 200-day moving average, though.
Meanwhile, the tech-rich Nasdaq outperformed the broader market for almost all of the session as the S&P 500 was mired in choppy, mixed trade. Broader market participants failed to rally around Intel’s announcement. Their lack of interest was partly owed to the notion that the stock market had become overbought after it had advanced in six straight sessions for a cumulative gain of more than 7%.
Financials weighed on the broader market for the entire session. As a group they fell to a 0.9% loss as bank stocks showed weakness ahead of a quarterly report from Dow component and banking bellwether JPMorgan (JPM 40.35, -0.13) Thursday morning. The KBW Bank Index dropped 1.6%.
Economic data did little to help extend the recent buying effort. After all, the latest FOMC meeting minutes indicated that real GDP for 2010 is now expected to range from 3.0% to 3.5%, which is down from the previous range of 3.2% to 3.7%, while the projection for 2011 GDP ranges from 3.5% to 4.2% after it had previously ranged from 3.4% to 4.5%.

Read more: http://www.nasdaq.com/aspx/market-summary.aspx#ixzz0thV6VmvZ

FGC BOLSA - FGC FINANCIAL MARKETS . US STOCKS-Wall St falters after Fed policy minutes. July 14th., 2010



REUTERS :
 
Wed Jul 14, 2010 3:05pm EDT
* Intel rises after results * U.S. retail sales fall more than expected in June * Fed's minutes show central bank ready to consider more steps * Dow off 0.2 pct, S&P off 0.3 pct, Nasdaq up 0.1 pct * For up-to-the-minute market news see [STXNEWS/US] (Updates to late afternoon, changes byline)
By Leah Schnurr
NEW YORK July 14 (Reuters) - U.S. stocks weakened on Wednesday after the Federal Reserve's policy makers said the central bank should be ready to consider additional steps to boost the economy if a softening outlook takes a turn for the worse.
Indexes dipped to session lows shortly after the minutes of the Fed's June meeting were released.
"Having the Fed come in and talk about a slowdown to where they may have to provide additional forms of easing and liquidity certainly would roil the market," said Bruce Zaro, chief technical strategist at Delta Global Advisors in Boston.
Wall Street had already been pressured by data that showed U.S. retail sales fell for a second straight month in June, adding to worries the pace of the recovery is slowing. [ID:nN14122226]
But gains in technology shares kept a lid on declines, with Intel Corp (INTC.O) rising 2.3 percent to $21.450, a day after its better-than-expected quarterly results.
Other chipmakers also boosted the technology sector, with Qualcomm Inc (QCOM.O) adding 2.2 percent to $36.74.
The Dow Jones industrial average .DJI slipped 21.73 points, or 0.21 percent, to 10,341.29. The Standard & Poor's 500 Index .SPX eased 3.56 points, or 0.33 percent, to 1,091.78.
But the Nasdaq Composite Index .IXIC was up 1.86 points, or 0.08 percent, at 2,243.89, after earlier falling into negative territory following the release of the Fed minutes. The Nasdaq had touched a session low at 2,235.15.
Earlier, the S&P 500 touched an intraday high at 1,099.08 and the Nasdaq was up as much as 0.8 percent at a session high of 2,260.33.
The S&P consumer discretionary sector's index .GSPD gave up 1.2 percent. Shares of youth-oriented retailer Abercrombie & Fitch (ANF.N) lost 1.3 percent to $35.76.
The Commerce Department reported that U.S. retailers' June sales declined 0.5 percent -- more than twice the 0.2 percent drop forecast by economists polled by Reuters.
Bank stocks were among the biggest drags on renewed concerns about European banks' stress test results. The KBW Bank Index .BKX lost 2.3 percent.
Fast-food chain operator Yum Brands Inc (YUM.N) gave a full-year profit outlook late on Tuesday that was below expectations. The stock was trading at $40.75, down 1.8 percent. [ID:nN13265343] (Editing by Jan Paschal)

INVESTOPEDIA .- There Are Always Stocks Worth Owning.July 14TH., 2010

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The Washington Post : Breaking News: Fed leaders: Economic recovery slower than expected

The Washington Post

Fed leaders: Economic recovery slower than expected

By Neil Irwin
Federal Reserve leaders marked down their expectations for growth and inflation last month, concluding that the economic recovery is proceeding more slowly than they had thought in the spring but that the slowdown did not warrant new policy actions.
But Fed leaders did agree to explore options for supporting the economy further in case conditions worsen.
"The changes to the outlook were viewed as relatively modest and as not warranting policy accommodation beyond that already in place," said minutes of the Fed's June 22-23 policy meeting, released along with revised economic forecasts. "However, members noted that in addition to continuing to develop and test instruments to exit from the period of unusually accommodative monetary policy, the Committee would need to consider whether further policy might become appropriate if the outlook were to worsen appreciably."
In forecasts made in advance of the meeting and released Wednesday, the officials expected that gross domestic product will grow 3 to 3.5 percent this year, compared with a forecast of 3.2 to 3.7 percent at their April meeting. They modestly downgraded their projection for 2011 as well. That lower growth could translate into unemployment staying higher for longer -- Fed leaders expect the jobless rate to be 9.2 to 9.5 percent in the fourth quarter of 2010, and to be 8.3 to 8.7 percent at the end of 2011, both slightly higher than in April forecasts.
But they see little threat from inflation, projecting that prices will rise 1 to 1.1 percent this year, compared with the 1.2 to 1.5 percent rate they forecast in April. The new outlook is well below the 1.7 to 2 percent inflation rate that the Fed targets over the longer term.
The forecasts are the most explicit confirmation to date that Fed officials have lowered their expectations for growth -- and since their meeting three weeks ago, more weak economic data have been released suggesting a deceleration in the economy, including a reports on June employment conditions, international trade in May and retail sales in June.
Still, the minutes make clear that Fed leaders still anticipate a continued economic recovery, suggesting that most of the policymakers would still resist any push to take new steps to support growth. Members of the policymaking committee "generally saw the incoming data and information received from business contacts as consistent with a continued, moderate recovery in economic activity," the minutes said.
The minutes did note that "financial markets had become somewhat less supportive of economic growth," mainly due to troubles in Europe, and that this was "likely to weigh to some degree on household and business spending over coming quarters."
But the officials appear to place greater weight on data suggesting strength in the business sector. They noted that investment in equipment and software was rising rapidly, and that household spending "continued to advance," even as the weak job market could weigh on consumers.
As The Post reported last week, Fed leaders are starting to discuss policies that they might use to further support growth if the economy continues to weaken, including pledging to keep interest rates low for even longer than now expected, cutting the interest rate on banks' reserves and buying some additional mortgage securities.
By Ariana Eunjung Cha  |  July 14, 2010; 2:00 PM ET
Categories:  Federal Reserve , U.S. Economy

Forbes: Financial .- Housing Discounts on the Rise Again. July 14th. 2010


Housing Discounts On The Rise Again
Stephane Fitch
More cuts to asking prices are another signal the recovery may be stalling, according to new data from Trulia.


The Bull Behind Claims That Stocks Are Cheap
Michael Pento
Paltry dividends and high debt debunk the notion that the market is a bargain.
 
Small-Business Owners: Prepare For A Tax Hike
James B. Davis
A change in payroll taxes on small service S corporations seems likely. But there are things you can do to minimize the pain.
 
Should You Lend Money To A Family Member?
Jeanne Fleming and Leonard Schwarz
Mixing relatives and money often forces lenders to forgive or foreclose.
 
Academic Study: eBay Sellers Shirk Sales Tax Law
Janet Novack
Economists' findings come as states and Congress look for new ways to collect tax on Internet sales.

NFA NOTIFICATION : Anthony S. Bobba, former principal of Boca Raton firm, temporarily barred from NFA membership. July 14th., 2010



For Immediate Release
For More Information Contact:
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org

Anthony S. Bobba, former principal of Boca Raton firm, temporarily barred from NFA membership
July 14, Chicago - National Futures Association (NFA) has barred Anthony S. Bobba, principal of Pioneer Commodities LLC (Pioneer), a former Introducing Broker located in Boca Raton, Florida, from NFA membership until September 2016. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in December 2009 and a settlement offer submitted by Bobba.
The Panel found that Bobba failed to cooperate in an NFA investigation regarding whether he and/or others were acting as undisclosed principals of Windsor Wealth Management LLC (Windsor), a former Introducing Broker also located in Boca Raton, Florida. Windsor was previously barred from NFA membership for failing to list Bobba as a principal of the firm and for providing false information regarding Bobba's actual role and compensation at the firm. See previous press release.
In the event Bobba reapplies for NFA membership status after the expiration of his membership bar in September 2016, he must also pay a fine of $75,000 to NFA at the time he reapplies, and he has stipulated that this case may serve as the sole basis for denying his reapplication for NFA membership status.
NFA previously suspended Bobba from NFA membership in August 2009, for a period of two years and from acting as principal for three years. These sanctions stemmed from a previous NFA Complaint that alleged Pioneer and Bobba made misrepresentations to the Series 3 Examination testing service by requesting additional time for several of Pioneer's prospective associated persons (APs) to take the Series 3 Exam on the purported ground that English was not the primary language of these prospective APs. See previous press release.
The complete text of the Complaint, respondent's Answer and Decision can be found on NFA's website (www.nfa.futures.org).
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.

FOX BUSINESS: FEDERAL RESERVE LOWERS 2010 GROWTH OUTLOOK, CITING WEAK JOBS MARKET


stimulus
$287,000 Per Job?The administration claims the $862 billion economic stimulus package has saved or created 3 million jobs. | WATCH
THE MOST POWERFUL NAME IN BUSINESS NEWS

Chamber CEO: No More Stimulus

Is the World Broke? U.S. Chamber of Commerce CEO Thomas Donahue argues regulation is going to hinder our ability to create jobs.

Fed Lowers 2010 Growth Outlook

Federal Reserve members said they are ready to consider additional steps to boost the economy.

Stocks See Red Post-FOMC Minutes

Markets trended mostly lower after the Federal Reserve said it cut its economic forecast.

Life Coaching Mel Gibson

Game Plan An open letter to Gibson on how to get his life back on the right track.

Mining Interactive : Tumi Confirms High-grade Mineralization at Mezquite Project in Mexico. July 14th., 2010



TUMI RESOURCES LTD.
CONFIRMATION OF HIGH GRADE MINERALIZATION AT MEZQUITE PROJECT IN SONORA STATE, MEXICO
Grab sample assay results ranged from 111 g/t to 600 g/t silver, 0.45% to 14.4% lead and 1.5% to 38.6% zinc
  • Nine (9) of thirteen (13) grab samples from mineralized pits assayed above 280 g/t silver suggesting that silver is present in significant quantities at Mezquite;
  • Previous line cutting in preparation for the IP survey exposed numerous pits.   The pits are randomly located over a length of 1.6 km and a width up to 400m;  
  • Mezquite is located 250 kms east of Hermosillo, Sonora state, Mexico.
Says David Henstridge, President & CEO: “The disseminated nature of the mineralization, seen over such an area and found within a favourable carbonate host rock, has the potential to develop into a bulk tonnage deposit.  We look forward to the start of an IP survey in this area seeking immediate drill targets in this prospective environment”
Dear Friends:
This highly prospective bulk tonnage Mezquite silver-zinc-lead prospect will soon is starting to get exciting.
Let’s get the IP survey over with David and then - - bring on the drills ASAP!

 
As always - - - Stay Tuned!!

Regards,
Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"

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Nick L. Nicolaas
(604) 657-4058
nick@mininginteractive.com