Feb 6, 2013
BBC News | Asia Business (7 February 2013 Last Update at 04:04 GMT:).: Dreamliner probe result 'weeks away'
7 February 2013 Last updated at 04:04 GMT
February 6, 2013
Compiled 21:45 GMT
Compiled 21:45 GMT
By MONICA MARKS and KAREEM FAHIM
Thousands of protesters gathered on Wednesday in Tunis after Chokri Belaid, a fierce critic of the Islamist-led government, was killed by gunmen outside his home.
By RICK GLADSTONE
The United States blacklisted several organizations in Iran, widening the American effort to pressure the government over its nuclear program and human rights abuses.
By MARK SCOTT and BEN PROTESS
The Royal Bank of Scotland on Wednesday settled with American and British authorities over accusations that it manipulated rates.
DealBook P.M. Edition Top Story (February 6, 2013).: White Collar Watch: A How-To Guide for Banks Facing Libor Settlements
Wednesday, February 6, 2013
MarketWatch | Wall Street at Close Report (February 6, 2013).: Stocks edge up on earnings; Nasdaq falls
SAN FRANCISCO (MarketWatch) — U.S. stocks eked out modest gains Wednesday after earnings from Time Warner Inc., Wyndham Worldwide Corp. and others reinforced a theme of steady improvement for consumer companies. The Nasdaq Composite ended lower.
The Dow Jones Industrial Average DJIA +0.05% ended a choppy trading day up 7.22 points, or 0.1%, at 13,986.52. It had fallen as much as 66 points during the session.
What chance for Berlusconi?
Silvio Berlusconi, the former Italian prime minister, may be down in the polls but remains the best-known face of Italian politics. .
February 6, 2013
Money Show | Investors Daily Alert (February 6, 2013).: Global State of the Union: What Changes and Where Is Value Now?, Frank Trotter
INVESTORS DAILY ALERT
Jim Jubak on MoneyShow.com
TOP PROS' TOP PICKS
China Rally Should Boost These Miners, Jeb Handwerger
8 Unloved Funds to Consider, Katie Reichart
GURUS' VIEWS & STRATEGIES
The Explosive Fight Over LNG Exports, Robert Rapier
CHARTS IN PLAY
2 Retail Picks Ready to Rock, Tom Aspray
Netflix Stock a Real 'House of Cards', John Heinzl
IDEAS FROM AROUND THE WORLD
Air Arabia Rises to New Heights, Lucy Barnard
Today's Featured Videos & Exclusive Interviews
Stocks or ETFs in 2013?, Louis Navellier
MarketWatch | Europe Stock Markets at Close Report (February 6, 2013).: Italian fears send European stocks lower
By Sara Sjolin, MarketWatch
LONDON (MarketWatch) — Worries over the political situation in Italy hurt sentiment across European markets on Wednesday, as the renewed popularity of former Prime Minister Silvio Berlusconi stoked fears of financial chaos in his country.
Investors also stayed on the sidelines ahead of the European Central Bank’s monetary policy meeting on Thursday. Read: Draghi unlikely to take up arms in currency war.
The Stoxx Europe 600 index XX:SXXP -0.36% lost 0.4% to close at 284.52, after putting in the best daily performance since early January on Tuesday.
The Best Way to Finish the Job of Deficit Reduction
Yesterday, in a statement from the Briefing Room, President Obama explained that while our economy is headed in the right direction, looming automatic budget cuts will cost jobs and slow down our recovery. Those deep, indiscriminate cuts aren't the best way to meet the $4 trillion in deficit reduction needed to stabilize our debt.
The best way to finish that job of deficit reduction? A "balanced mix of spending cuts and tax reform," the President said.
Money Show Traders Daily Alert (February 6, 2013).: Is the Euro's Rally Over?, Yohay Elam : Is the Euro's Rally Over?
Traders Daily Alert
Tips for Traders
Would You Buy a Stock With a Chart Like This?, Greg Capra
Euro Currency Bulls Enjoyed Super Bowl Week, Matt McKinney
Charts in Play
2 Retail Picks Ready to Rock, Tom Aspray
Is the Euro's Rally Over?, Yohay Elam
Stocks Move Back To The Downside In Early Trading
After showing a strong upward move over the course of the previous session, stocks have moved back to the downside in early trading on Wednesday. The major averages have slid into negative territory, although selling pressure has remained relatively subdued.
The major averages have climbed off their lows for the young session but currently remain in the red. The Dow is down 41.61 points or 0.3 percent at 13,937.69, the Nasdaq is down 5.65 points or 0.2 percent at 3,165.93 and the S&P 500 is down 3.56 points or 0.2 percent at 1,507.73.
The early weakness on Wall Street is partly due to lingering uncertainty about the financial situation in Europe ahead of Thursday's monetary policy announcement from the European Central Bank.
Commentary February 6, 2013
Stocks may move back to the downside in early trading on Wednesday after showing a notable rebound over the course of the previous session. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 49 points. (Feb 6, 2013) Full Article
Retail sales in Australia were down a seasonally adjusted 0.2 percent on month in December, the Australian Bureau of Statistics said on Wednesday, standing at A$21.420 billion. (Feb 6, 2013) Full Article
China unveiled reforms to its income distribution mechanism that included boosting minimum wages and social welfare funds in order to bridge the wealth gap. The plan approved by the Cabinet calls for increasing the minimum wages to 40 percent of average salaries and lifting the percentage of profit contribution by state-owned companies' to the treasury by 5 percentage points by 2015. (Feb 6, 2013) Full Article
ETF Trends | New Selected articles (February 6, 2013).: Dividend ETF Targets Lower-Risk, High-Yield Stocks... and more
The explosion of dividend ETFs in recent years in a low-rate market for bonds has made it much easier for investors to buy diversified stock funds for yield. However, the wide array of ETF options can make it a bit difficult to choose the best fund to fit an investor’s particular needs and goals. The iShares High Dividend Equity Fund (HDV) isn't among the largest five dividend ETFs but it still holds assets of more than $2 billion. Read More
As Unit Pleads Guilty, R.B.S. Pays $612 Million Over Rate Rigging | Dealbook Alert (February 6, 2013).
DEALBOOK ALERT Wednesday, February 6, 2013 8:17 AM EST
|The Royal Bank of Scotland on Wednesday struck a combined $612 million
settlement with American and British authorities over accusations that it
manipulated interest rates, the latest case to emerge from a broad international
DealBook Today's Top Headlines (February 6, 2013).: Documents in S.&P. Case Show Alarm | R.B.S. Approaches Settlement Over Rate-Rigging | Debevoise Drops Trusts and Estate Practice | Rescuing the Twinkie
Gold Mineweb Daily News (February 6, 2013).: New Gold sees 12% increase in gold output for 2013, decline in silver
US Market Commentary
Wall Street Stays Afloat Amid Risk Appetite
2/6/2013 6:37 AM ET
Wall Street's momentum has not deserted it amid its optimism about the global economy, as reflected by the U.S. index futures, which point to a higher open on Wednesday. Undeterred by the extended rally, the major averages have been relentlessly climbing. Earlier in the day, Japanese Nikkei 225 average climbed to fresh multi-year highs, as the yen sagged further. European stocks are also advancing, although amid some volatility. In the absence of any major domestic economic catalysts, traders may focus on a handful of key earnings.
As of 6:30 pm ET, the Dow futures are adding 18 points and the S&P 500 futures are up 1.40 points, while the Nasdaq 100 futures are rising 0.75 points.
U.S. stocks rebounded on Tuesday post the previous session's sell-off, as traders focused on the positive tidings on the corporate earnings and economic front.
On the economic front, the Treasury is due to make announcements concerning the auction of 3-year and 10-year notes and 30-year bonds at 9 am ET.
By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) — U.S. stock-market futures mostly rose on Wednesday, taking some inspiration from a rally out of Japan, as an empty data calendar leaves investors with room to question whether momentum and risk appetite will continue to build after a rout early in the week.
The earnings calendar includes Time Warner Inc. and CVS Caremark Corp. among a handful of key companies reporting premarket.
Futures for the Dow Jones Industrial Average DJH3 +0.30% rose 14 points to 13,924. Futures for the Standard & Poor’s 500 index SPH3 +0.11% rose 0.9 point to 1,506.80.
Those for the Nasdaq 100 index NDH3 +0.12% edged down 0.8 point to to 2,748.50.
Stocks shrug off Monday's slide
U.S. stocks snapped back from a day-earlier tumble, led by technology shares, as investors eyed corporate earnings and steady economic readings in the U.S. and Europe.
Wall Street stocks bounced back on Tuesday to recoup from a prior-day rout, with confidence lifted by a deal to take Dell Inc. DELL +1.13% private — the biggest leveraged-buyout deal in years.
MarketWatch | Asia Markets at Close Report (February 6, 2013).: Japan stocks soar to four-year highs, lead Asia
HONG KONG (MarketWatch) — Japanese stocks soared Wednesday to end at their highest level in more than four years as the yen skidded amid hopes the country’s central bank may adopt aggressive easing measures following Gov. Masaaki Shirakawa’s planned early departure.
Most other regional markets ended with modest gains in the wake of upbeat economic data from the U.S. and Europe a day earlier.
Japan’s Nikkei Stock Average JP:100000018 +3.77% jumped 3.8%, the most since March last year, to finish the day at 11,463.75, a level it hasn’t seen since September 2008.
The U.S. dollar USDJPY +0.0159% briefly topped 94 yen and the euro climbed as high as ¥127.69 — a high neither currency has seen since 2010. The yen’s fall against them came after Gov. Shirakawa late Tuesday said he would step down from his post on March 19, a few weeks ahead of the expiration of his term, to coincide with the departure of two deputy governors. Read more about yen’s drop versus the dollar and the euro.
Why Chinese banks are eager to lend again
China's banks have recently been exceeding their lending limits. May Yan of Barclays explains why this may be a sign of economic recovery in the country.
Analysts said the news likely means an accelerated and potentially more wide-ranging policy-easing plan will emerge from the Japanese central bank.
Mineweb Top Stories Top Stories (February 6, 2013).: Vale and Silver Wheaton announce $1.9bn gold stream deal