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Nov 24, 2010

An insider-trading scandal, and global turmoil. MarketWatch - Special Financial Services

MarketWatch
SPECIAL  FINANCIAL SERVICES
 
Mutual Funds Weekly: An insider-trading scandal, and global turmoil
 
By MarketWatch


From a violent clash between North and South Korea, to Ireland’s ongoing turmoil, to the growing insider-trading scandal here in the U.S., there’s a lot for investors to mull this week. Read more in Mutual Funds Weekly. 

Hans Rosling - 2020 Shaping Ideas

At secret meeting, Fed considered buying everything and holding press briefings: GATA - THE GATA DISPATCH :

At secret meeting, Fed considered buying everything and holding press briefings

Fed Considered Long-Term Rate Target in Secret
By Robin Harding
Financial Times, London
Tuesday, November 23, 2010
http://www.ft.com/cms/s/0/63b58a42-f737-11df-9b06-00144feab49a.html#axzz...
The US Federal Reserve considered a radical change to its monetary policy at an unannounced meeting in mid-October that could have committed it to buying an unlimited amount of securities, according to the minutes of its November meeting.
At the October 15 meeting, held by video conference, the Fed discussed whether it should target a long-term interest rate, suggesting this could be an option if inflation continued to fall in the face of the central bank's new $600 billion round of quantitative easing, nicknamed QE2. But the meeting rejected the policy change.
Targeting a long-term interest rate -- fixing the 10-year yield at 2.5 per cent, for example -- would commit the Fed to buying an unlimited amount of Treasury securities if the public wanted to sell them at that price. At the moment, the Fed can choose to buy more or less than $600 billion, but with a long-term rate target it might lose control of the size of its balance sheet.

Some members of the rate-setting open market committee noted this option "could be an effective way to reduce longer-term interest rates." But members "also noted potentially large risks, including the risk the Fed might find itself buying undesirably large amounts of the relevant security."
At the meeting, the Fed's open market committee also discussed whether chairman Ben Bernanke should start to hold regular press briefings to improve its communications with the public and whether to adopt a numerical inflation objective or a target path for the price level.
The Fed has kept the video conference a secret for the past month. It means that the FOMC had already discussed many of the important issues about QE2 before the November meeting at which it was launched.
The minutes said "most" members had agreed with the decision to launch QE2 but differed on the risks to the economy and the likely costs and benefits of buying more long-term securities.
"Most" members judged it would ease financial conditions and that would spur economic growth, but "some" thought that it would have "only a limited effect on the pace of the recovery."
FOMC members slashed their growth and inflation forecasts for the next few years and sharply increased their expectations of unemployment.
In a crucial argument supporting the case for QE2, most of the FOMC forecast that core inflation in 2013 will be between 1.1 and 2 per cent. That justifies action because he Fed's objective is "about 2 per cent or a bit below."
The committee also expects to miss its other goal on jobs with unemployment forecast to be between 7.7 and 8.2 per cent at the end of 2012 -- up from a June forecast of 7.1 to 7.5 per cent -- and 6.9 to 7.4 per cent at the end of 2013.
A few committee members also increased their estimate of the number of people who will remain out of work once the economy has fully recovered.
The "central tendency" estimate -- which excludes the three highest and three lowest forecasts by individual FOMC members -- rose from between 5 and 5.3 per cent to between 5 and 6 per cent.
Most FOMC members now expect growth of between 3 and 3.6 per cent in 2011 compared with the 3.5 to 4.2 per cent that they forecast in June, but they remain optimistic that growth will accelerate to about 4 per cent in 2012.
The Fed staff also revised up their growth forecasts because of the anticipated effects of quantitative easing.
The minutes also say that the Fed has launched a review of its communication guidelines "with the aim of ensuring that the public is well informed about monetary policy issues while preserving the necessary confidentiality of policy discussions until their scheduled release."

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Dennis Gartman Names His Top Three Trades for 2011: CNBC Evening Brief



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Stocks Rebound In Response To Upbeat Employment Data - U.S. Commentary : RTTNews- Evening Market Wrap

Evening Market Wrap Wed Nov 24

Commentary

Nov 24, 2010 Stocks Rebound In Response To Upbeat Employment Data - U.S. Commentary Stocks saw substantial strength during trading on Wednesday, moving back to the upside after seeing considerable weakness in the previous session. The markets benefited from a positive reaction to the slew of economic data that was released on the day. Full Article

Economic News

Nov 24, 2010 MBA: Mortgage Demand Rises, Consumers Feeling Better With mortgage applications for home purchases rising to their highest level in more than six months, overall mortgage demand crept higher last week, according to industry data revealed Wednesday morning. The Mortgage Bankers Association's Market Composite Index for the week ending November 19, increased 2.1 percent on a seasonally adjusted basis from one week earlier. Full Article
Nov 24, 2010 U.S. Durable Goods Orders Show Steep Drop In October Orders for durable goods manufactured in the U.S. showed a substantial decrease in the month of October, according to a report released by the Commerce Department on Wednesday, with orders falling by much more than economists had been anticipating. The report showed that orders for durable goods fell by 3.3 percent in October following an upwardly revised 5.0 percent increase in September. Economists had expected orders to edge down by 0.3 percent. Full Article
Nov 24, 2010 U.S. Personal Spending Rose Less Than Expected In October Personal spending in the U.S. increased for the fourth consecutive month in October, the Commerce Department revealed in a report on Wednesday, with the report also showing a notable increase in personal income for the month. The report showed that personal spending increased by 0.4 percent in October following an upwardly revised 0.3 percent increase in September. Economists had been expecting spending to increase by 0.6 percent. Full Article
Nov 24, 2010 U.S. Consumer Sentiment Jumps To 5-Month High In November Reuters and the University of Michigan released their final report on consumer sentiment in the month of November on Wednesday, showing a substantial upward revision to their consumer sentiment index for the month. The report showed that the consumer sentiment index for November was upwardly revised to a reading of 71.6 from the preliminary estimate of 69.3. The upward revision came as a surprise to economists, who had expected the index to be unrevised. Full Article
Nov 24, 2010 U.S. Initial Jobless Claims Drop To 407,000, Lowest Since 2008 New filings for unemployment benefits in the U.S. dropped more than expected last week to the lowest level in two years, data from the Labor Department revealed Wednesday morning. The government reported that initial jobless claims fell by 34,000 to 407,000 during the week ending November 20. Full Article
Nov 24, 2010 U.S. New Home Sales Pull Back Near Record Lows In October New home sales in the U.S. unexpectedly showed a steep drop in the month of October, according to a report released by the Commerce Department on Wednesday, with new home sales pulling back near the record low levels seen in the Summer. The Commerce Department said new home sales fell 8.1 percent to an annual rate of 283,000 in October from the revised September rate of 308,000. Economists had been expecting new home sales to rise to an annual rate of 314,000. Full Article

Earnings News

Nov 24, 2010 Deere Q4 Profit Tops Estimates On Strong Equipment Sales - Update Deere & Co. (DE), the world's largest maker of agricultural equipments, reported Wednesday a return to profit for the fourth quarter - a change steered by strong equipment demand and the absence of prior year's hefty charge. Earnings per share and net sales significantly surpassed market projections. The maker of iconic green and yellow machinery also projects higher earnings and strong growth in net sales for fiscal 2011. Full Article

Featured Article

Nov 24, 2010 Dollar Strengthens As Jobless Claims Drop Sharply The dollar continued to drive higher versus the euro on Wednesday, improving to a new 2-month high before the release of some encouraging US jobs data. Even with the data deluge from the US, focus remained on Europe, where officials struggled to keep the bond vigilantes at bay. Spanish and Portuguese bond yield spreads hit their highest level ever amid fears that a debt crisis ala Ireland and Greece is in the cards. Full Article

Political News

Nov 24, 2010 Armed Services Committee To Hold Hearings On "Don't Ask, Don't Tell"Following the release of the Pentagon's report on the impacts of repealing the military's “Don’t Ask, Don’t Tell” policy next week, the Senate Armed Services Committee will hold two days of hearings on the report, the committee revealed on Wednesday. Full Article
Nov 24, 2010 Obama Doesn't Think About PalinPresident Obama isn't thinking about Sarah Palin, despite the potential challenge from the former Alaska governor in 2012. Full Article

F & F I N The Australian Business Briefing : UBS sued for assisting Madoff's scheme.







Wall St surges on strong US data
Wall St UPDATED Jonathan Cheng US stocks surged, reversing the previous session's sharp declines as strong economic data pushed investors into retail stocks.
 
UBS sued for assisting Madoff's scheme
Bernard Madoff Christine Seib THE trustee recovering money for victims of Bernard Madoff's Ponzi scheme has sued UBS for $US2 billion for collaborating in the $US65bn rip-off.
 
Dissenting Geeks question Apple's cool
aus bus pix Apple Christine Seib APPLE'S cherished IT underdog status may be waning as a growing band of critics become irritated by the California company's ubiquity.
 
NBN Co backs costings
holes in NBN Mitchell Bingemann and Tracy Lee NBN Co claims it will recoup the $13.8 billion it plans to pay Telstra.
 
Bond traders turn on Portugal
Portugal Patrick Hosking BOND traders turned on Portugal yesterday on worries it could be the next to follow Ireland and seek rescue financing.
 
Directors side-step rules on trading
ASX Rebecca Urban CONCERNS mount that new rules may not stamp out the widespread practice among directors of trading shares during sensitive blackout periods.
 
Gold cools as war worries ease
Gold Tatyana Shumsky COMEX gold futures ended lower on modest US dollar strength and easing worries over North and South Korean tensions.
 
Banks face $2bn hit from reform plans
banks Scott Murdoch THE major Australian banks could face an earnings hit of up to $2 billion a year.
 
Financial Markets
Bond traders turn on Portugal
Portugal Patrick Hosking BOND traders turned on Portugal yesterday on worries it could be the next to follow Ireland and seek rescue financing.
 
Gold cools as war worries ease
Wall St surges on strong US data
 
Financial Markets Coverage
 
Mining & Energy
Gold cools as war worries ease
Gold Tatyana Shumsky COMEX gold futures ended lower on modest US dollar strength and easing worries over North and South Korean tensions.
 
Miners lost as second blast extinguishes hopes
Coal India close to deal
 
More Mining & Energy Coverage

Stocks jump on upbeat data with stocks in tight range| F & F I N | Reuters Daily Investor Update



FROM: REUTERS - DAILY INVESTOR UPDATE




Stocks jump on upbeat data with stocks in tight range
Executive charged in hedge fund probe
Data hints U.S. recovery is becoming self-sustaining
Ford Motor cuts debt by $1.9 billion
Ireland set for majority stakes in top banks
J&J recalls more Tylenol
Galleon's Rajaratnam loses wiretap suppression bid
U.S. stimulus boosted jobs, output in Q3: CBO
T.Boone's BP Capital adds BP shares
Crowded parking lots hint at Black Friday sales

NYT: Afternoon Business News.-Data on Jobless Filings Lift Wall Street Shares.



BUSINESS:

Data on Jobless Filings Lift Wall Street Shares

By CHRISTINE HAUSER
A batch of economic reports offered some hope that the economy was improving in the United States.
Magazine Preview

In China, Cultivating the Urge to Splurge

By DAVID LEONHARDT
Building a consumer society in China won't be easy, but the health of the world economy depends on it.
News Analysis

Amid Bailout Dangers, Spain Poses the Greatest Risk

By RAPHAEL MINDER
Any bailout request from Spain - with an economy twice the size of Greece, Ireland and Portugal combined - could spell game over for the European single currency project.

Japanese Firm in Rare Earths Deal With Australian Miner

By HIROKO TABUCHI
Even as Japan confirmed that China had resumed exports of the sought-after minerals, Japan's largest rare earths trader pursued a diversified supply.

Cheap and Collectible, This Year's Hot Toy Is the Squinkie

By STEPHANIE CLIFFORD
Blip Toys, a tiny company in Minnesota, saw a need this year for affordable, collectible toys. It introduced Squinkies, a squishy toy, and can't keep up with demand.

Combat-weary stocks shoulder trifecta of trouble: MarketWatch - Special Financial Services

 
MarketWatch
SPECIAL FINANCIAL SERVICES
Jon Markman's Speculations: Combat-weary stocks shoulder trifecta of trouble
 
By Jon Markman


Stocks across the world have sunk over the past two weeks in sync with artillery shells falling on the Korean Peninsula, search warrants dropping in Wall Street offices and recovery expectations slipping in Dublin, writes Jon Markman.  

Give generously -- to the right charities:MarketWatch.- Personal Finance Daily

MarketWatch

Personal Finance Daily
NOVEMBER 24, 2010

Wednesday's Personal Finance stories

By MarketWatch



Don't miss these top stories:
It's that time of year when thoughts turn to charitable giving (at least, when those thoughts aren't focused on Thanksgiving dinner or the latest Black Friday deal). While some givers are well-organized, others of us often fall into a trap.

If the right charity calls at just the right moment, and just the right amiable or knowledgeable person is at the other end, there's a higher chance, at this time of year, that we'll dole out some goodness in the form of cash. That's a problem only if you haven't fully researched the organization.

That's one reason Chuck Jaffe created his own "Do Not Donate" list. Another reason? Sometimes the person calling is beyond rude. Read Chuck's column today for more on why you should consider creating a list to make sure your charitable donations are going to the people and causes you most want to support.

Also, don't miss David Wilkerson's story on the 10 best movies you'll want to buy or rent to lift you up in these hard times. These aren't holiday movies, but stories that show the triumph of the human spirit. We could all use some more of that these days, couldn't we? And if only it were visible in the halls of Congress, rather than on the TV screen, that'd really be something to be thankful for.

OK, enough moaning! Here's wishing you and yours a very Happy Thanksgiving.

Andrea Coombes , Personal Finance editor

Why you need a ‘Do Not Donate' list

When you give money to a charity, you should expect some minimum standards of conduct — and that includes fundraisers who don't hang up on you in midsentence, says Chuck Jaffe. He offers tips for creating your own ‘Do Not Donate' list.
Read more: Why you need a ‘Do Not Donate' list.


THANKSGIVING CELEBRATION

The 10 best movies to lift you up in hard times

In 1974, when Metro-Goldwyn-Mayer released "That's Entertainment," its first compilation of great musical moments from MGM films of the 1930s, ‘40s and ‘50s, the movie had a tagline that resonated with audiences weary of the Watergate hearings, inflation and the waning days of the Vietnam War: "Boy, do we need it now!"
Read more: The 10 best movies to lift you up in hard times.


Scenes from the best films to lift your spirits

Scenes from 10 films that are guaranteed to make you feel better as we continue to claw our way out of the Great Recession.
Read more: Scenes from the best films to lift your spirits.


Apps to help you shop on Black Friday

A flurry of new apps are designed to help you find the best deals at the stores on Black Friday. Stacey Delo talks with Geoff Fowler.
Watch video: Apps to help you shop on Black Friday.


How to set your holiday table

Strike a holiday mood with your guests as they sit down for dinner. Ryan Cole, General Manager of Michael Mina in San Francisco, shows us how to set the table traditionally and for a crowd this holiday season.
Watch video: How to set your holiday table.


TAXES

Year-end tax strategies for small-business owners

Almost 23 million people had non-farm businesses small enough to include on their personal tax returns in 2008, according to recent IRS statistics. These Schedule C folks were responsible for generating over $1.3 trillion in revenues, over $110 billion worth of payrolls, and $264 billions of net profits.
Read more: Year-end tax strategies for small-business owners.


REAL ESTATE

Mortgage rates stabilize after last week's spike

After a big jump last week, mortgage rates stabilized this week, with rates on fixed-rate mortgages barely changing, according to Freddie Mac's weekly survey of conforming mortgage rates, released Wednesday.
Read more: Mortgage rates stabilize after last week's spike.


October new-home sales down 8.1%, U.S. says

Sales of new single-family homes fell 8.1% in October to a seasonally adjusted annual rate of 283,000, according to data released Wednesday by the Census Bureau and the Department of Housing and Urban Development.
Read more: October new-home sales down 8.1%, U.S. says.


INVESTING

Five ways to bet on Ireland

The idea of investing in Ireland right now isn't as crazy as it sounds. For investors, crisis usually means opportunity. The bailout of the suddenly unlucky Irish, and the arrival of the International Monetary Fund to administer their patented brand of financial emetic, needn't be as bad news for the markets as some might assume.
Read more: Five ways to bet on Ireland.


Commentary: Contrarian analysis of the gold market

Has the gold market become overheated and thereby vulnerable to a sharp decline?
Read more: Contrarian analysis of the gold market.


Hemline Index falls out of fashion

Of the hundreds of market indicators used by traders and investors to help predict the market's direction, one style never seems to fall out of fashion — but it should.
Read more: Hemline Index falls out of fashion.


Madoff victims' trustee suing UBS for $2 billion

The trustee for victims of Bernard Madoff's investment fraud is suing UBS for $2 billion, alleging fraud and misconduct in what was termed the financial-services giant's "collaboration" with the convicted swindler.
Read more: Madoff victims' trustee suing UBS for $2 billion.


‘Expert' arrested in insider-trading investigation

Federal authorities said Wednesday that an employee of "expert network" firm Primary Global Research LLC has been arrested on insider-trading charges.
Read more: ‘Expert' arrested in insider-trading investigation.


‘Expert networks' under microscope

Expert network firms, which help investors do deep research by connecting them with consultants, have found themselves entwined in a different kind of investigation.
Read more: ‘Expert networks' under microscope.


TRAVEL

Commentary: Sex and the frequent flyer

The home front is in an uproar over the war on terror, and all it took was some dirty pictures.
Read more: Sex and the frequent flyer.


ECONOMY & POLITICS

Commentary: Warren Buffett's humbug

If Warren Buffett wants to tarnish his golden years emitting the gushing drivel that appeared in last Wednesday's New York Times, he has undoubtedly earned the privilege.
Read more: Warren Buffett's humbug.


Commentary: From Capitol to Wall Street, no decency

There are several reasons why the primary feeling many Americans have toward politicians and bankers right now is revulsion, but chief among them is the lack of accountability and even common decency.
Read more: From Capitol to Wall Street, no decency.


U.S. jobless claims fall 34,000 to 407,000

The Labor Department on Wednesday said 407,000 workers filed new applications for unemployment benefits last week, the lowest level in more than two years.
Read more: U.S. jobless claims fall 34,000 to 407,000.


U.S. core inflation at record-low 0.9% in October

Year-over-year core inflation rose a record low of 0.9% in October, the Commerce Department reported Wednesday.
Read more: U.S. core inflation at record-low 0.9% in October,

This is the day, this is the parliament & this is the time .| F & F I N | The Australian Capital Circle




Capital Circle Newsletter

This is the day, this is the parliament & this is the time
 
Julia Gillard has struck the deal she needed on the NBN, but she lost some skin on the way.

First off - the business case: THE National Broadband Network's pledge to pay back $27.1 billion in taxpayer funds rests on the ability to sign up 8.3 million customers...The 36-page summary of the 400-page business case, which the government will not release until next month, reveals the cost of building the superfast internet network is now forecast at $35.7bn, down from $43bn, thanks to the pending deal to buy infrastructure and customers from Telstra...The NBN Co expects that the combined fibre, fixed wireless and satellite network will pass 12 million homes and businesses by 2020. Of these, about 8.3 million households - or 69 per cent - are expected to sign on to services offered over the NBN. (more from Annabel Hepworth and Mitchell Bingemann).
The politics of NBN: Matthew Franklin and Lauren Wilson report "Gillard has buckled to political pressure from independent senators to save Labor's proposed National Broadband Network.''
Deal done, the way has been cleared to break up Telstra and the government's NBN scheme has taken a step forward, Clancy Yeates and Michelle Grattan write.
A promise to keep: BUNDLED internet and telephone services could be up to $400 a year cheaper for consumers who hook up to the superfast National Broadband Network. The Federal Government yesterday issued a guarantee that NBN customers would pay cheaper rates for services up to 1000 times faster than what is currently offered, Simon Benson reports.
Aditional Scrutiny: Sid Maher reports "THE Auditor-General has been asked to mount an inquiry int
Read more...

Ten Things to Know Before Trading Futures



Ten Things To Know Before Trading Futures
Emily Lambert
Increasingly, traders are looking for stock market alternatives. Many are turning to futures trading. Before you do the same, here's what you need to know.

The Washington Post Afternoon Edition . Today's Most Read Articles

Washington Post

1) Health insurers face new federal rules on medical spending

The Obama administration issued far-reaching rules Monday to carry out a controversial promise that the new health-care law makes to consumers: insurers must spend at least $4 out of $5 they collect through premiums on direct medical services and other means to improve Americans' health.

2) Attack on Michelle Obama shows Palin's ignorance of history

Palin could not lead black or Hispanic America.

3) Irish government unveils $20 billion in spending cuts

LONDON - Desperate to seal a deal for an international bailout, the government in Ireland on Wednesday unveiled a painful, four-year plan for $20 billion in spending cuts and new taxes that would slash unemployment benefits and cut welfare payments for the already hard-hit Irish public.

4) Jimmy Carter: North Korea's consistent message to the U.S.

Choose between diplomatic niceties or a catastrophic confrontation.

5) Allen West, one of two black Republicans just elected to House, goes against grain

Allen West, a 22-year Army veteran, is preparing for Washington a bit like he would for a battlefield. His "high and tight" hairstyle will be one of the only buzz cuts in Congress. He plans to carry a camouflage bag, not a briefcase.

6) U.S. to stage exercises with South Korea few good options for dealing with North

The United States is dispatching an aircraft carrier strike group to the waters off the Korean Peninsula for joint military exercises that President Obama said would reinforce the U.S. alliance with South Korea in the wake of a North Korean artillery attack Tuesday.

7) Busy travel day starts smoothly despite predictions that scanner protests could cause delays

Wednesday is National Opt-Out Day, an organized grass-roots effort created by travelers upset with full-body X-ray scanners and physical pat-downs at airports. Participating passengers will "opt out" of the imaging machine in favor of pat-downs by the Transportation Security Administration, which co

8) UN AIDS chief: Spread of HIV in E. Europe is scary

VIENNA -- A near tripling of new HIV infections in Eastern Europe and Central Asia over the past nine years is frightening, the U.N.'s top AIDS official said Wednesday.

9) Brett Favre, putting the 'me' in team

This is not what Brett Favre expected. He could really use a hug. Give, give, give, all he does is give, and what does he get in return? Not what he expected. Oh, the suffering, the repeated blows to his dignity, to be paid $16 million for one more season of perpetual, unending, exasperating boyh...

10) How Germany got it right on the economy

With its Jimmy Stewart localism, Germany is running rings around America.

New Houses sales Down / New manufactured durable goods decreased ( Mixed Data) / Personal Income Up





Economics and Statistics Administration Logo 

Sales of new single-family houses in October 2010 were at a seasonally adjusted rate of 283,000, down 8.1% from September. They are 28.5% below their year ago level.

New orders for manufactured durable goods in October 2010 decreased 3.3 percent, to $196.0 billion.  Excluding transportation, new orders fell 2.7 percent.  Capital goods shipments decreased 1.5 percent, while overall shipments fell 0.9 percent.  Inventories rose 0.4 percent in October.

Personal income in October 2010 rose 0.5 percent.  Nominal personal consumption expenditures (PCE) increased 0.4 percent, while real PCE rose 0.3 percent.  Nominal disposable personal income (DPI) increased 0.4 percent, while real DPI rose 0.3 percent.  The personal saving rate as a percentage of DPI was 5.7 percent in October.

this information is  free by the  Economics and Statistics Administration through the Economic Indicators service at  http://www.economicindicators.gov.  Check out other demographic and economic data from the U.S. Census Bureau at http://www.census.gov and the Bureau of Economic Analysis at http://www.bea.gov.

Stocks May See Early Gains After Drop In Jobless Claims - U.S. Commentary .RTTNews Morning Market Briefing

Morning Market Briefing Wed Nov 24 09:06 2010

Commentary

Nov 24, 2010 Stocks May See Early Gains After Drop In Jobless Claims - U.S. Commentary Stocks are poised to open moderately higher on Wednesday, as the markets are focusing on a jobless claims number that is the lowest since mid-2008. Nonetheless, gains may be being tempered by the cloud of tensions between North and South Korea and the lack of a resolution to Ireland's debt woes. The major index futures are all in positive territory, with the Dow futures up by 65 points. Full Article

Economic News

Nov 24, 2010 MBA: Mortgage Demand Rises, Consumers Feeling Better With mortgage applications for home purchases rising to their highest level in more than six months, overall mortgage demand crept higher last week, according to industry data revealed Wednesday morning. The Mortgage Bankers Association's Market Composite Index for the week ending November 19, increased 2.1 percent on a seasonally adjusted basis from one week earlier. Full Article
Nov 24, 2010 U.S. Durable Goods Orders Fall Much More Than Expected In October Orders for durable goods manufactured in the U.S. showed a substantial decrease in the month of October, according to a report released by the Commerce Department on Wednesday, with orders falling by much more than economists had been anticipating. Full Article
Nov 24, 2010 US Initial Jobless Claims Drop To 407,000 New filings for unemployment benefits in the US dropped more than expected last week to the lowest level in two years, data from the Labor Department revealed Wednesday morning. In a report released a day early due to Thursday's Thanksgiving holiday, the government reported that initial jobless claims fell by 34,000 to to 407,000 during the week ending November 20. Full Article
Nov 24, 2010 U.S. Personal Spending Rose For Fourth Straight Month In October Personal spending in the U.S. increased for the fourth consecutive month in October, the Commerce Department revealed in a report on Wednesday, with the report also showing a notable increase in personal income for the month. Full Article
Nov 24, 2010 German Business Confidence Hits Records High An indicator of business confidence in Germany surprised analysts by rising for the sixth month in a row to reach an all-time high, with businesses turning more upbeat over their prospects for the next six months. Full Article
Nov 24, 2010 Exports Lift UK Q3 GDP Growth Gaining strength from net trade, the British economy remained resilient in the third quarter as expected. Full Article
Nov 24, 2010 S&P Downgrades Irish DebtInternational ratings agency Standard & Poor's on Tuesday cut the Irish Republic's sovereign credit rating, citing the country's larger than expected borrowing requirements to finance its troubled banking system. Full Article
Nov 24, 2010 Eurozone Industrial New Orders Drop More Than Expected Eurozone industrial new orders fell more than expected in September as demand for all sorts of goods declined. Despite the drop, the sector is expected to contribute to the currency bloc's economic growth. Full Article

Earnings News

Nov 24, 2010 TiVo Q3 loss widens on higher costs; guides Q4 lossTuesday, TiVo Inc. (TIVO) reported a bigger loss for the third quarter, hurt mainly by higher operating expenses. Revenue for the quarter dropped nearly 11% from the past year. Looking ahead, the firm provided loss guidance for the fourth quarter. Full Article
Nov 24, 2010 Deere turns to profit in Q4; guides FY11 earningsWednesday, Deere & Co. (DE) posted a profit for the fourth quarter, compared to loss last year, as sales grew 35% from last year. The firm noted that agriculture and turf revenues went up 33%, while construction and forestry revenues surged 75% from the year-ago period. Looking ahead, Deere said it expects profit for fiscal year 2011 to be around $2.1 billion. Full Article
Nov 24, 2010 Guess Q3 profit rises 8%, beats Street; lifts full-year viewTuesday, Guess?, Inc. (GES) reported a 8% rise in profit for the third quarter, helped by strong business growth in in Europe and Asia. Earnings per share came in above Street view. Gross margin for the quarter narrowed to 43.4% from 45.3% in the past year. Further, the firm lifted its revenue and earnings guidance for the full year. Full Article
Nov 24, 2010 Tiffany Q3 profit rises 27%; raises FY11 adj. EPS viewWednesday, Tiffany & Co. (TIF) reported a 27% rise in profit for the third quarter, reflecting a 14% growth in sales. Both earnings per share and revenue came in above the Street view. Looking ahead to the full year, Tiffany raised its adjusted earnings guidance range to a level above the current estimate of analysts. The firm also sees worldwide sales growing about 12% for fiscal 2011. Full Article

Corporate News

Nov 24, 2010 SAP ordered by Federal Court to pay Oracle $1.3 bln in legal settlementTuesday, SAP AG (SAP) was ordered by a U.S. Federal Court to pay Oracle $1.3 billion in damages in relation to software theft accusation by Oracle Corp. (ORCL). The case of software piracy has been going on since November 1. Full Article

Todays WS Events

Nov 24, 2010 Tiffany Q3 10 Earnings Conference Call At 8:30 AM ET Tiffany & Co. (TIF) will host a conference call at 8:30 AM ET on November 24, 2010, to discuss its Q3 10 earnings result. To access the live webcast, log on at http://investor.tiffany.com/eventdetail.cfm?EventID=88262
Nov 24, 2010 Deere Q4 10 Earnings Conference Call At 10:00 AM ET Deere & Co. (DE: News ) will conduct a conference call at 10:00 AM ET, November 24, 2010, to discuss its Q4 10 financial results. To access the live webcast, log on at http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=83523&eventID=2591791