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Aug 24, 2010

LATEST FOREX NEWS : NASDAQ.; August 24th., 2010

NASDAQ LATEST FOREX NEWS

Latest Forex News


Forex Commentary

Why Today's Declines Are Just The Beginning: MarketWatch: Special Financial Services. August 24th., 2010


MarketWatch
Financial Services

Outside the Box: Why today's declines are just the beginning

By Jeff Reeves


Housing is the least investors have to worry about. The deep drop in early trading today caused a rash of new lows across Wall Street , writes Jeff Reeves. 

Australia Morning Business News : ABC NEWS : August 24th ,2010



Mining, media conglomerate Seven posts profit Photo

By online business reporter Michael Janda
Posted 55 minutes ago
Updated 43 minutes ago
The owner of the Seven television network, Seven Group Holdings has announced a profit of $718 million for the two month period from late April to the end of June.

CFTC Signs SOI with Japan’s Ministry of Economy, Trade and Industry (METI) and Ministry of Agriculture, Forestry and Fisheries (MAFF) .August 24th., 2010


Press Releases for CFTC.gov.
The following General press release has been published:
See the CFTC Press Room for the latest news and events or Press Room Archives for previous releases.

FOX BUSINESS |Breaking Business News: Slowdown Fear Sink Stocks. August 24th., 2010

FOX BUSINESS

March 2010 Traders 03 276
Slowdown Fears Sink StocksThe Dow closed 134 points lower following the release of an ugly report on existing home sales.
THE MOST POWERFUL NAME IN BUSINESS NEWS

Why Home Sales Really Plunged

EMac A new report suggests home equity lines of credit should be of deep concern to policymakers.

What More Can the Fed Do?

EXCLUSIVE Richard Fisher, president of the Federal Reserve Bank of Dallas, explains the Fed's strategy in getting the economy back on track.

Raising Oysters and Raking in Millions

Young Guns How one entrepreneur launched a highly successful restaurant and oyster farm. | WATCH

Learning From the Herd

Companies are turning to so-called 'crowdsourcing' to engage their shoppers and learn their needs.

MarketWatch Personal Finance Daily: Stimulus Boosted GDP As Much As 4.5%. August 24th., 2010


MarketWatch

Personal Finance Daily
AUGUST 24, 2010

Tuesday's Personal Finance stories

By MarketWatch




Don't miss these top stories:
When it comes to finding a safe place for your money these days, the pickings are slim. Interest rates on bank deposit accounts average less than 1%. Investors worried about a double-dip recession continue to move out of stocks -- the Dow Jones Industrial Average fell 134 points Tuesday, closing at its lowest level since July 7 -- and into bonds with record-low yields. And there's that possibility of a bond-market bubble to consider. (Still, some say bonds are not the next bubble.)

Maybe it's time to throw more money at your mortgage? Certainly, more homeowners are doing that by refinancing into 15-year mortgages. There's that, or perhaps dividend-paying stocks. (Did you see our story on a roster of dividend-paying stocks?)

What are you doing with your money these days?

-- Andrea Coombes , Personal Finance editor


HEALTH CARE

Hospitals take steps to keep patients safe -- and at home

About one in five Medicare patients suffers complications or other health problems that send them back to the hospital within a month of going home -- and a lack of communication between hospitals and patients about follow-up care is a major reason why, experts say.
See story on hospitals take steps to keep patients safe - and at home.


INVESTING

Treasury prices firm on robust appetite for two-year notes

Treasury prices remained firm on Tuesday following robust demand for U.S. government debt during a government auction to sell 2-year notes.
See story on Treasurys firm on robust appetite.


Commentary: Summer's almost over -- get ready

Labor Day's around the corner. Summer recess is almost over. Time for one last blast. One more ostrich burger cookout in the Hamptons. One more round of Irish Car Bombs in the Vineyard.
See story on summer's almost over -- get ready.


Commentary: Decoding Wall Street's hidden messages

Wall Street's traditionally sleepiest month has been about as restful as a red-eye flight to Beijing -- in coach, on a crowded plane, after guzzling a case of 5-Hour Energy drinks.
See story on decoding Wall Street's hidden messages.


Commentary: A statistical take on the Hindenburg omen

The market is falling, the market is falling! That's the urgent warning coming from devotees of an esoteric market timing gauge known as the Hindenburg Omen. They say that it is a reliable indicator of an imminent stock market crash.
See story on a statistical take on the Hindenburg omen.


ECONOMY & POLITICS

Stimulus plan boosted GDP by as much as 4.5%

The oft-criticized stimulus plan boosted the economy in the second quarter by as much as 4.5%, the Congressional Budget Office said on Tuesday.
See story on stimulus boosted GDP by as much as 4.5%.


Commentary: Latest data suggest the double dip is here

The headwinds are getting stronger. The latest batch of economic data to come down the pike point to an economy that is not merely heading for a double-dip -- it suggests that we are already there. Jobless claims jumped to a nine-month high, the leading indicators flattened and the Philly Fed's index of regional manufacturing took a header.
See story on latest data suggest the double-dip recession is here.


GOP's Boehner says Geithner, Summers should resign

House Minority Leader John Boehner, in a major economic address ahead of the midterm elections, called Tuesday for the resignation of Treasury Secretary Timothy Geithner and Larry Summers, the head of the White House's national economic team.
See story on GOP's Boehner says Geithner, Summers should resign.


TRAVEL

Luxury travel in Ireland picks up as prices drop

The Irish economy, like many around the globe, is struggling, but well-to-do visitors are returning to the Emerald Isle to take advantage of more attractive pricing for lodging and a chance to enjoy its storied golf links.
 Watch video on luxury travel in Ireland picks up as prices drop.


CARS

Toyota could be heading toward another recall

Toyota Motor Corp., still on the mend from its sticky-pedal fiasco, could be tracking toward yet another big recall.
See story on Toyota could be heading toward another recall.

CNBC : Evening Brief: Why the Home Price Numbers Are Not What They Seem. August 24th., 2010


LATEST STORIES


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


LATEST VIDEO

NYT: Afternoon Business News | Afternoon Business Update. August 24th., 2010



Wall Street Struggles as It Absorbs Housing Data

 
By CHRISTINE HAUSER
A worse-than-expected report on existing homes sales follows a decline overseas.

European Data Point to Strength, but Doubts Linger

 
By DAVID JOLLY
Euro-zone manufacturers met with unexpectedly strong demand for industrial goods in June, but fears persist that the sovereign debt crisis could return.
Square Feet

When Deals Need to Pass the Feng Shui Test

 
By JONATHAN VATNER
As the number of Asian buyers and lessees in New York has grown, commercial real estate brokers are quickly learning just how pervasive feng shui can be.
Square Feet

Tastykake Baker Found a New Home in Navy Yard

 
By JEFF SCHLEGEL
For the company, whose regional distribution ranges from Cleveland to Connecticut to Florida, the move was about increasing both efficiency and production.
Media Decoder Blog

WABC Adds Early Morning Newscast

 
By BRIAN STELTER
WABC, an affiliate of ABC, said Tuesday that it would add a newscast at 4:30 a.m.

RTTNews: Egvening Market Wrap: Stocks Post Steep Losses As Existing Homes Sales Plummet - U.S. Commentary. August 24th., 2010

Evening Market Wrap Tue Aug 24 17:01 2010 

Commentary

Aug 24, 2010 Stocks Post Steep Losses As Existing Homes Sales Plummet - U.S. Commentary Stocks fell by sharp margins on Tuesday, as a much more steeper than expected decline in July existing home sales drew capital out of the equity markets. The decline pulled the major averages to their worst closing levels in seven weeks. Full Article

Economic News

Aug 24, 2010 Existing Home Sales Show Substantial Decrease In July Existing home sales in the month of July fell by even more than economists had been anticipating, according to a report released by the National Association of Realtors on Tuesday, with the steep drop reflecting the expiration of the home buyer tax credit. Full Article

Earnings News

Aug 24, 2010 Burger King Profit Drops On Lower Sales - Update Burger King Holdings Inc. (BKC) Tuesday reported a decline in profit for the fourth quarter, impacted mainly by lower worldwide company comparable sales. The hamburger restaurant chain expects comparable sales to remain under pressure due to ongoing weakness in the labor market and by the implementation of government austerity programs across many European markets. Full Article
Aug 24, 2010 BMO Financial Q3 Profit Increases - Update BMO Financial Group (BMO, BMO.TO) reported Tuesday an increase in profit for the third quarter, citing significant reduction in provision for credit losses and benefits of diversified business mix. For the third-quarter, the company's net income available to common shareholders increased to C$636 million or C$1.13 per share from C$524 million or C$0.97 per share in the previous year. Full Article
Aug 24, 2010 Big Lots Lifts Full-year View As Q2 Profit Rises - Update Sales growth and margin improvement drove closeout retailer Big Lots, Inc. (BIG) to report a sharp increase in profit for the second quarter and lift its full-year earnings guidance. The Columbus, Ohio-based company reported Tuesday a second quarter net income of $38.9 million or $0.48 per share, up from $28.4 million or $0.34 per share reported in the prior-year quarter. Full Article
Aug 24, 2010 Medtronic Q1 Profit Rises, But Misses Estimate - Update Medtronic, Inc. reported Tuesday a surge in net profit for the first quarter of fiscal 2011. Excluding special items, earnings missed market estimate by a penny, as top line dropped 4%. This reflects particular weakness in the spinal surgery segment due to pressure on hospital budgets and increasing physician skepticism about spinal surgery benefits. The world's largest medical devices maker also lowered its earnings guidance for fiscal 2011. Full Article

Political News

Aug 24, 2010 Biden, Boehner Trade Shots On EconomyHouse Minority Leader John Boehner, R-Ohio, Tuesday took aim at President Barack Obama's economic policies in remarks that drew a stern rebuke from Vice President Joe Biden. Boehner, speaking at an event in Cleveland, claimed that the administration's policies are scaring American employers out of investing and hiring due to the prospect of higher taxes and more regulation. Full Article

U.S. MARKETS AT CLOSE SNAPSHOT . August 24th., 2010




   
U.S.MARKETS SNAPSHOT AT CLOSE


                                                                      LAST             CHANGE     %CHANGE

                                             DOW             1040.68         - 133.73         -1.31
                                             NASDAQ      2123.76         -  35.87         -1.66
                                             S&P 500        1051.87         -  15.49         -1.45       

The Washington Post : Afternoon Edition: Most Viewed Articles:. August 24th., 2010

 

Most Viewed Articles on washingtonpost.com

1) Minority leader Boehner calls for extending tax cuts, question stimulus spending

Sign up for our political news alerts. CLEVELAND -- House Minority Leader John Boehner (R-Ohio) called Tuesday for the mass firing of the Obama administration's economic team, including Treasury Secretary Timothy F. Geithner and White House adviser Larry Summers, arguing that November's midterm ...

2) China's massive traffic jam could last for weeks

BEIJING -- A massive traffic jam in north China that stretches for dozens of miles and hit its 10-day mark on Tuesday stems from road construction in Beijing that won't be finished until the middle of next month, an official said.

3) Whining on the right

The brouhaha over Park51 is part of a larger pattern in which the far right stokes fear.

4) The mosque cop-out

Religious freedom isn't something to compromise on.

5) Judge blocks stem cell rules

A federal judge on Monday blocked the Obama administration from funding human embryonic stem cell research, ruling that the support violates a federal law barring the use of taxpayer money for experiments that destroy human embryos.

6) Vast number of military bands may not be music to Gates's ears

Defense Secretary Robert M. Gates frequently makes the point that Congress funds Defense Department personnel far more easily than it does State Department employees.

7) Home sales plunge 27 pct. to lowest in 15 years

WASHINGTON -- Sales of previously occupied homes plunged last month to the lowest level in 15 years, despite the lowest mortgage rates in decades and bargain prices in many areas.

8) Most eggs produced by a few firms

The largest egg recall in U.S. history comes at a point of great consolidation in the egg industry, when a shrinking number of companies produce most of the eggs found on grocery shelves and a defect in one operation can jeopardize a significant segment of the marketplace.

9) Hard times for Tysons Corner landowner when $1.2 million deal collapses

10) Moral myopia at Ground Zero

The pro-mosque liberal intelligentsia have failed to see the sensitivity surrounding Ground Zero.

MarketWatch: Special Financial Services: Savers beware I.R. Below 1%. August 24th., 2010

MarketWatch
  FINANCIAL SERVICES
Savers beware: Interest rates dip below 1%  
By Jennifer Waters MarketWatch


Bad news for savers: The national average rate on checking, savings and other deposit accounts has dipped below the 1% mark for the first time in at least 10 years -- and doesn’t appear headed higher anytime soon, according to an analysis by Market Rates Insight. See full story

The China Syndrome. August 24th., 2010



The China Syndrome
Joel Kotkin
Five reasons why the U.S. can stay ahead of the Middle Kingdom.


Barack Obama's No Ronald Reagan
Brian S. Wesbury and Robert Stein
The former president stimulated the economy by cutting taxes; Obama has done the opposite.
 
Cashing In On Ground Zero
Claudia Rosett
A test of tolerance, or a grating exercise in self-promotion?
 
Explaining ObamaCare To Stupid
Merrill Matthews
Americans have rejected ObamaCare, so frustrated Democrats are bringing in the marketers to craft a simpler message.
 
How The 'Ground Zero Mosque' Controversy Is Challenging Democracy
Abigail R. Esman
It isn't for the reasons that you think.

MarketWatch: Special Financial Services: Home Sales plunge 27.2% in July. August 24th., 2010


MarketWatch
  FINANCIAL SERVICES)
Economic Report: Existing-home sales plunge 27.2% in July  
By Jeffry Bartash MarketWatch


The sale of existing U.S. homes sank 27.2% in July -- the biggest one-month drop ever -- largely because of the phase-out of a federal tax credit, according to an industry trade group. 

FOX BUSINESS : Stocks Retreat at Kickoff. August 24th., 2010


FOX BUSINESS : BREAKING BUSINESS NEWS:

06-30-10 Traders 01 276
Stocks Retreat at KickoffWall Street took an early tumble as worries about the slowing economic recovery continue to suppress the markets’ appetite for risky assets.

THE MOST POWERFUL NAME IN BUSINESS NEWS

Dell May Up 3PAR Bid

The tech giant is reportedly preparing to sweeten its bid for 3PAR after Hewlett-Packard topped its bid.

Yen Hits 15-Year High vs Dollar

The yen advanced against the dollar and hit a nine-year peak against the euro on economic worries.

BHP to Post Near-Record Profit

The miner is set to report a 50% jump in second-half profit, which could damped rivals in its Potash bid.

Treasury Yields Pinned Down

Treasury yields re-tested recent lows in Europe as investors priced in more signs of U.S. weakness.

Foster's to Untangle Beer, Wine

Australia's largest brewer said the split of its beer and wine divisions was on track for next year.

Taxes: Who Gets Hit the Most?

WATCH The debate about extending the Bush tax cuts continues on, but who really will feel the pinch?

MarketWatch: Special Financial Services: A first step to fixing the mortgage mess. August 24th., 2010

MarketWatch
  FINANCIAL SERVICES
MarketWatch First Take: A first step to fixing the mortgage mess  
By MarketWatch


The free ride for mortgage banking may be coming to an end. Good riddance, writes David Weidner. 


 
By Ronald D. Orol MarketWatch


President Barack Obama should call for the resignation of both Treasury Secretary Timothy Geithner and Larry Summers, the head of the White House’s national economic team, House Minority Leader John Boehner said Tuesday. 

RTTNews : Daily Stocks to Watch:Celsion receives FDA Fast Track Designation for Primary Liver Cancer treatment program. August 24th., 2010

Daily Stocks to Watch Tue Aug 24 09:02 2010 

Stocks To Watch

Aug 24, 2010 Celsion receives FDA Fast Track Designation for Primary Liver Cancer treatment program – Stocks To WatchOncology drug development company Celsion Corp. (CLSN) said it received the Fast Track Designation for its ThermoDox development program to Treat Primary Liver Cancer. The company noted that the FDA designated the HEAT Study of its investigational drug, ThermoDox, in combination with radiofrequency ablation, as a Fast Track Development Program. ThermoDox is currently being evaluated under a Special Protocol Assessment agreement with the FDA in a 600 patient global Phase III trial in patients with non-resectable hepatocellular carcinoma or HCC, commonly referred to as primary liver cancer. With nearly 70% of patients enrolled in the trial, Celsion is targeting to complete patient enrollment by year-end 2010. Full Article
Aug 24, 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: Fear Of Slipping Economy Shakes Futures - U.S. Commentary . August 24th., 2010

Morning Market Briefing Tue Aug 24 09:01 2010 

Commentary

Aug 24, 2010 Fear Of Slipping Economy Shakes Futures - U.S. Commentary Stock futures are pointing to a sharply lower open Tuesday morning, as concerns regarding the direction of the economy amid a waning pace of recovery has rattled sentiment ahead of today's existing home sales data. The major index futures are firmly lower, with the Dow futures down by 119 points. Full Article

Economic News

Aug 24, 2010 U.K. Mortgage Approvals Fall For Second Month: BBAThe number of mortgage approvals for house purchases by British banks declined for the second month in July. Full Article
Aug 24, 2010 Canadian Retail Sales Stall In JuneCanadian retail sales were basically flat in June as prices at the pump fell, official data revealed Tuesday. Full Article
Aug 24, 2010 Exports, Construction Lift German GDP Growth In Q2 The German economy logged its biggest expansion since its '1991 reunification' in the second quarter as estimated initially. Full Article
Aug 24, 2010 Eurozone June Industrial Order Growth Eases Less Than Expected Eurozone industrial new order growth slowed less than expected in June. Full Article

Earnings News

Aug 24, 2010 Trina Solar Q2 profit doubles, beats StreetTuesday, Trina Solar Ltd. (TSL) said its second-quarter profit and revenue doubled, as solar module shipments zoomed from last year. Margins also improved significantly year-over-year. Both earnings and revenue came in above the Street view. Further, for the full year, the company lifted its shipment outlook. Full Article
Aug 24, 2010 Burger King Q4 profit drops 17%, yet beats StreetTuesday, Burger King Holdings Inc. (BKC) reported a 17% drop in profit for the fourth quarter. Earnings came in above the Street view, while revenue, which dipped 1%, fell short of estimates. Comparable store sales declined 0.7%, reflecting weak performance in the company's U.S. and Canada operations. Further, the company provided guidance for fiscal 2011. Full Article
Aug 24, 2010 Medtronic Q1 profit up 86%; guides FY11Tuesday, Medtronic, Inc. (MDT) reported Tuesday an 86.5% jump in first-quarter earnings, despite a 5% dip in sales amid a weak health care market. The year-ago results were hurt by hefty charge for restructuring and litigation. Looking ahead, the company provided earnings and revenue guidance for fiscal 2011. Full Article
Aug 24, 2010 Barnes & Noble swings to loss in Q1Tuesday, Barnes & Noble, Inc. (BKS) said it slipped to a loss in the first quarter, despite a 21% growth in revenue, hurt by lower margins. Looking ahead, the company lowered its outlook for the full year and provided loss outlook for the second quarter. Further, Barnes & Nobles declared quarterly cash dividend of $0.25 per share payable September 30. Full Article
Aug 24, 2010 Big Lots Q2 profit rises 37%, beats Street, lifts FY10 EPS viewTuesday, Big Lots Inc. (BIG) posted a 36.7% jump in profit for the second quarter, reflecting better margins as well, as a 5.1% growth in revenues. Comparable store sales improved 3.8% from the past year. Operating margin for the quarter rose 110 basis points to 5.5%. Looking ahead to the full year, the company raised its earnings per share guidance. Full Article

Todays WS Events

Aug 24, 2010 EQT To Present At The EnerCom 2010 Oil & Gas Conference At 4:20 PM ET EQT Corporation (EQT) will present at the EnerCom 2010 Oil & Gas Conference, on August 24, 2010. The event is scheduled to begin at 4:20 PM ET. To access the live webcast, log on at http://www.eqt.com
Aug 24, 2010 Medtronic Q1 11 Earnings Conference Call At 8:00 AM ET Medtronic Inc. (MDT) will host a conference call at 8:00 AM ET August 24, 2010, to discuss its Q1 11 financial results. To access the live webcast, log on at www.medtronic.com
Aug 24, 2010 Big Lots Q2 10 Earnings Conference Call At 8:00 AM ET Big Lots Inc. (BIG) will host a conference call at 8:00 AM ET August 24, 2010, to discuss its Q2 10 financial results. To access the live webcast, log on at www.biglots.com For replay of the call, dial 1.888.203.1112 (US) or 1.719.457.0820 (International) with Passcode # 8325914.
Aug 24, 2010 Qwest Communications Special Shareholder Meeting At 12:00 PM ET Qwest Communications International Inc. (Q) will host a special shareholder meeting on August 24, 2010, at the Denver Marriott City Center. The event is scheduled to begin at 12:00 PM ET. To access the webcast, log on at http://investor.qwest.com/presentations

FOREX CONTRACTS DAILY : REUTERS: Stocks Futures Down Ahead U.S.Home Sales Data .



 

 Before the Belll : Reuters.com

Stock futures down ahead of U.S. home sales data
BHP profit jump could dampen rivals in Potash bid
Yen hits 15-year high as Japan ponders move
Foster's on track to untangle beer and wine
Dell may up 3PAR bid: report
KNOC sticks to $2.6 billion Dana bid
Fed divided on Aug decision to buy Treasuries: report
CitiFinancial's loan delinquency edges up: report
Big Lots EPS beats Street by a cent
Chevron fights potentially historic damages case























MarketWatch : Special Financial Services : Europe Markets : Stocks Drop Sharply Across Europe. August 24th., 2010

MarketWatch
  FINANCIAL SERVICES
Europe Markets: Stocks drop sharply across Europe
 
By Simon Kennedy MarketWatch


Stock markets fell heavily across Europe Tuesday after a string of poorly received trading updates and as fears over the strength of the U.S. recovery continued to unsettle investors.