Showing posts from September, 2011

Marketwatch Top Ten Stories, September, 26 -30

Weekly Roundup SEPTEMBER 30, 2011 MarketWatch top 10 stories, Sept. 26 - 30 By MarketWatch NEW YORK (MarketWatch) — U.S. stock indexes dropped more than 2% Friday, ending their worst quarter since the depth of the financial crisis, with worries over Europe dominating. The Dow Jones Industrial Average ( DJIA ) fell 240.60 points, or 2.2%, at 10,913.38. It gained 1.3% for the week but lost 6% for the month, its fifth monthly loss in a row. The 12.1% quarterly loss was the worst since the March 2009 quarter. The S&P 500 Index ( SPX ) fell 28.98 points, or 2.5%, at 1,131.42 Friday. It was off 0.4% for the week, down 7.2% for the month and off 14.3% for the quarter — its worst quarter since December 2008. The Nasdaq Composite Index ( COMP ) lost 65.36 points, or 2.6%, at 2,415.40. It fell 2.7% for the week, lost 6.4% for the month and 12.9% for the quarter. Get a head start on what's coming up with our Week Ahead videos. Also, check out our new

Kitco New York Market Close Report

New York Market Close Sep 30/11 05:21 PM EDT Metals Bid Ask Change Low High Gold 1624.80 1625.80 8.90 0.55% 1606.10 1635.80 Silver 29.97 30.07 -0.70 -2.28% 29.56 31.27 Platinum 1523.00 1529.00 3.00 0.2% 1498.00 1562.00 Palladium 611.00 616.00 -9.00 -1.45% 604.00 639.00

U.S. government bond funds surge in quarter: MarketWatch | Personal Finance Daily

Personal Finance Daily SEPTEMBER 30, 2011 U.S. government bond funds surge in quarter By MarketWatch Don't miss these top stories: U.S. government bond funds leap in third quarter Inside the cloistered world of the diamond business Exchange rate, season make Europe trips a better deal Gold, silver bullion coins' ‘fondle factor' Most fund investors looked at U.S. Treasury debt and state-issued debt favorably in the history-making third quarter, even as the bond market's already largely unchecked 2011 win streak gets more and more stretched, Rachel Koning Beals writes in the first in our three-part special report on third-quarter mutual fund and ETF performance. Look this weekend for reports on international and U.S. stock funds. See the special report, along with a recap of previous quarters' reports, here. Also on MarketWatch today, Kim Hjelmgaard offers an inside look at the cloistered world of the international diamon

Kodak shares plummet on restructuring fears: Reuters - Business Update

LATEST NEWS Kodak shares plummet on restructuring fears (Reuters)- Eastman Kodak Co shares fell almost 70 percent on Friday afternoon on concerns the photography pioneer could file for bankruptcy. | Full Article Wall Street ends worst quarter since 2008 meltdown September 30, 2011 04:36 PM ET NEW YORK (Reuters) - Stocks ended their worst quarter since the depths of the 2008 credit crisis, crippled by Europe's debt debacle, a U.S. credit downgrade and a sputtering global economy. | Full Article SEC finds failures at credit raters September 30, 2011 12:38 PM ET WASHINGTON (Reuters) - Securities and Exchange Commission staff found "apparent failures" at each of the 10 credit rating agencies they examined, including Standard & Poor's, Moody's, and Fitch, the agency said on Friday in its first annual report on credit raters. | Full Article JPMorgan, BofA sued over mortgage debt losses September 30, 2011 0

NYT: Afternoon Business News: Patricia Kluge Loses Her Fortune in the Downturn

BUSINESS Patricia Kluge Loses Her Fortune in the Downturn By GERALDINE FABRIKANT The former wife of the media magnate John Kluge is in bankruptcy after losing millions in a risky winery venture in Virginia. Austria Approves Euro Bailout Fund By NICHOLAS KULISH The measure, supporting an expansion of the euro currency zone's bailout fund for heavily indebted countries, passed following a bruising debate in Parliament. Stocks Fall on Fresh Economic Data By DAVID JOLLY Shares dipped following disappointing data on American spending and incomes and European inflation. Troubled Poker Site May Be Bought by French Entrepreneur By MATT RICHTEL Full Tilt Poker has agreed to be bought by Groupe Bernard Tapie, which will repay customers who have not been able to withdraw their gambling money. S.E.C. Finds Problems at Credit-Rating Agencies By EDWARD WYATT The Securities and Exchange Commission report said the companies repeated

Will Obama's foreign policy wins cancel out economy : CBS NEWS | Political Hotsheet Top Stories

CBS POLITICAL HOTSHEET TOP STORIES         Will Obama's foreign policy wins cancel out economy losses? John Dickerson's reporters roundtable on the U.S. killing of al-Awlaki and its impact on the 2012 race for the White House Read full story Huckabee mulling another White House run? Former Arkansas governor reportedly approached by conservatives unhappy with current crop of candidates; previously ruled out 2012 run Read full story For "Occupy Wall Street," Radiohead a sideshow Possible concert draws attention to protest movement, but decision by unions to join up is the real story Read full story Ron Paul, ACLU condemn Anwar al-Awlaki killing Critics say U.S. government should not be authorizing the killing of American citizens without due process of the law Read full story Obama blames debt debate for weak fundraising Mr. Obama's campaign is blaming the debt ceiling stand

The Economist | Selected New Articles: Americas View / Audio / Banyan /... and more

Americas view: Steps forward and back Mexico's supreme court backs conservative anti-abortion laws read more » Audio: Not giving up Our Asia editor and Pakistan correspondent discuss the Haqqani network listen » Banyan: Mistah Khurts, he free A murky Mongolian saga read more » Eastern approaches: Britain looks east An interview with Nick Clegg, deputy prime-minister of Britain, in Warsaw read more » Babbage: Difference Engine How to deter thieves intent on swiping electronic goodies read more » Game theory: The gnarled and the gnarly Why so many top surfers are relatively old read more » Daily chart: Retreat! The currency war, continued read more » Online debate: The yuan This house does not believe the yuan will be the world's main reserve currency within ten years read more » The Economist's Fine Properties Fair—online October 18th and 19th 2011—FREE Discover unique second homes, fine properties, vacation estates and

Morning Market Briefing

Commentary Stocks Likely To Move Sharply Lower At The Open - U.S. Commentary Stocks are likely to come under pressure in early trading on Friday, as traders express continued concerns about the outlook for the global economy. The major index futures are currently pointing to a sharply lower open, with the Dow futures down by 130 points. (Sep 30, 2011) Full Article Economic News South Korea August Industrial Output Rises 4.8% Industrial output in South Korea climbed 4.8 percent on year in August, Statistics Korea said on Friday, expanding for the 26th consecutive month. (Sep 30, 2011) Full Article Japan Industrial Output Rise 0.8% In August Industrial output in Japan was up a seasonally adjusted 0.8 percent on month in August, the Ministry of Economy, Trade and Industry said on Friday in a preliminary reading - continuing to reflect the results of the devastating earthquake and tsunami on March 11. (Sep 30, 2011) Full Article Standard & Poor's,

Real Disposable personal income decreased .03%. Financial and Forex Info News | ESA - Personal Income and Outlays Stats.

  Personal income in August 2011 fell 0.1 percent. Nominal personal consumption expenditures (PCE) increased 0.2 percent and real PCE was unchanged. Nominal disposable personal income (DPI) was also unchanged and real DPI decreased 0.3 percent. The personal saving rate as a percentage of DPI was 4.5 percent in August. Personal Income and Outlays (August 2011).pdf

Stocks & Markets in the News: Futures Lower based on fears of a global slowdown.

Stock futures lower as China manufacturing contracts NEW YORK (Reuters) - Stock index futures fell on Friday after data showing a continued contraction in China stirred fears the global economy was slowing. | Full Article

Britain's cure for economic slowdown - drive faster

Britain's cure for economic slowdown - drive faster LONDON (Reuters) - The British government has come up with a literal cure for economic slowdown -- it wants drivers to drive faster on the nation's motorways. | Full Article

Kitco Market Hourly Report

Market snapshot as of Fri Sep 30 07:01:03 EDT 2011 New York time (GMT - 5) Gold  Bid 1621.3  Ask 1622.3  Change 5.4 0.33%  High 1635.8  Low 1614.2 Silver  Bid 30.43  Ask 30.53  Change -0.24 -0.78%  High 31.27  Low 30.32 Platinum  Bid 1526.0  Ask 1534.0  Change 6.0 0.39%  High 1562.0  Low 1518.0 Palladium  Bid 617.0  Ask 622.0  Change -3.0 -0.48%  High 639.0  Low 613.0 London Fix   Gold Silver Platinum Palladium   AM PM - AM PM AM PM  $USD   1629.0  0.0  0.0  1538.0  0.0  627.0  0.0 Click here for Historical London Fix prices

Inside The Mind Of The UBS 'Rogue' Trader: Economy Watch

Inside The Mind Of The UBS 'Rogue' Trader 30 September 2011. There have been many rogue traders in the course of financial history. Bernard "Bernie" Madoff operated the world's largest Ponzi scheme and was sentenced to 150 years behind bars in June 2009. One would imagine that a recent precedent in Madoff would deter financial fraudsters from striking again, at least for a while. Apparently not.  Click here to continue reading. T   he gigantic $2.3 billion losses that Union Bank of Switzerland is blaming on a Ghanaian-born "rogue" trader have added power to the elbows of all those who believe that "casino" banking ought to be completely separated from "utility" banking and should never be underwritten by the taxpayer. UBS, whose City of London acquisitions have included the merchant bank SG Warburg and broker dealers Phillips & Drew, has yet to provide a credible excuse of what w

Reuters UK - Finance Weekly

LATEST NEWS Consumer confidence reverses decline in September LONDON (Reuters) - Confidence among British consumers improved this month for the first time since May, after shoppers' took a more positive view of the economic outlook, a survey showed on Friday. | Full Article CBI calls for measures to help home buyers 30 SEP 2011 08:30 BST LONDON (Reuters) - The government should back measures to help home buyers and boost infrastructure spending to get the economy moving, the Confederation of British Industry said on Thursday. | Full Article Mortgage approvals highest since December 2009 29 SEP 2011 09:34 BST LONDON (Reuters) - Mortgage approvals rose more strongly than expected last month to hit their highest level since December 2009, and new lending to consumers also picked up, Bank of England figures showed on Thursday. | Full Article House prices edge higher in September - Nationwide 29 SEP 2011 08:46 BST LONDON (Reu