May 21, 2013
Japanese stocks rally toward fresh multiyear highs to lead broad gains for Asian markets, as indications that the Federal Reserve Bank isn’t close to slowing its asset purchases lifts investor sentiment. 53 min ago
Tokyo stocks lead Asia ahead of Bank of Japan meet
LOS ANGELES (MarketWatch) -- Hong Kong's stock market was due to open at 1 p.m. local time for the afternoon session after the Hong Kong Observatory dowgraded its rain warning to "amber" from "black," indicating easing rains. The morning session was cancelled due to the warning. 9:56 p.m. Today
Hong Kong to open for afternoon as rains ease
Australia stocks advance, paced by miners
One Response to Apple Tax Strategy May Be to Copy It: The New York Times: ALERT FGC BOLSA - FGC FINANCIAL MARKETS May 21, 2013.
FGC BOLSA- FGC FIN
Complied: May 21, 2013 09:10:23 PM
High & Low FinanceOne Response to Apple Tax Strategy May Be to Copy It
By FLOYD NORRIS
An unintended consequence of a Senate hearing might be companies deciding to take advantage of the same loopholes as Apple.
Ted Butler: Blockbuster in gold
Silver market analyst and market rigging whistleblower Ted Butler speculates tonight in line with Hong Kong fund manager Bill Kaye (http://www.gata.org/node/12567) to the effect that JPMorganChase and other big bullion banks were behind the recent smashing of the gold and silver futures markets so they might obtain metal cheaply, particularly by redeeming shares of the gold and silver exchange-traded funds GLD and SLV and draining their metal. Butler's commentary is headlined "Blockbuster in Gold" and it's posted at GoldSeek's companion site, SilverSeek, here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
May 21, 2013
Compiled 20:45 GMT
Compiled 20:45 GMT
By JOHN ELIGON, MANNY FERNANDEZ and MICHAEL SCHWIRTZ
Rescue workers sought survivors as they sifted through debris and around power lines to reach those who were feared trapped.
By JOHN ELIGON
Oklahoma residents on Tuesday began the painstaking process of trying to come to grips with what happened, and the uncertain path forward.
By JENNIFER PRESTON, CHRISTINE HAUSER and LIAM STACK
The National Weather Service said on Tuesday that the tornado was a category EF5, the most powerful category of tornado.
By THE EDITORIAL BOARD
Doubts are growing about whether a promised peace conference will even come off.
By HANIA MOURTADA and ANNE BARNARD
Airstrikes were reported on Tuesday amid conflicting accounts about the progress of the battle for Qusayr, a town in western Syrian long held by anti-government forces.
By ERIC SCHMITT
The State Department is racing to fulfill recommendations on diplomatic security, but some Republicans have questioned its ability to carry out the changes.
By MARTIN FACKLER
Prime Minister Shinzo Abe's economic shock therapy, which combines a flood of cheap cash, fiscal stimulus and deregulation, is getting early results.
MarketWatch - Wall Street at Close Report May 21, 2013: U.S. stocks rise after Fed officials comments
NEW YORK (MarketWatch) — U.S. stocks rose on Tuesday after comments from two Federal Reserve officials suggested that the central bank is not close to tapering its bond-buying program.
The S&P 500 index SPX +0.17% gained 8 points, or 0.5%, to 1,674.16, with health care posting the biggest gains and telecommunications the biggest laggard among the 10 major industry groups.
The Dow Jones Industrial Average DJIA +0.34% rose 76 points, or 0.5%, to 15,411.
The Nasdaq Composite COMP +0.16% rose 8 points, or 0.3%, to 3,505.
Stocks accelerated gains in the afternoon after New York Fed President William Dudley, who is also vice chairman of the Federal Open Market Committee, said that the Fed may adjust the pace of asset purchases up or down depending on the economic outlook and that he was unsure which way the next change will be.
Earlier in the day, St. Louis Fed President James Bullard said the central bank should continue with its present bond-buying program and adjust the rate of purchases in view of incoming data on growth and inflation. He said the program is the best policy option and has been effective.
The Fed’s $85-billion-a-month asset-purchase program aims to boost economic growth and lower the jobless rate. The program has buoyed the stock market and its end — if not properly managed — may hurt sentiment among equity investors, potentially triggering a correction in the market.
On Wednesday, Federal Reserve Chairman Ben Bernanke will testify before Congress about the economic outlook, and the Federal Open Market Committee will release minutes from its latest meeting.
“Broadly speaking, investors are really waiting to see what Mr. Bernanke is going to say in front of Congress,” said Andrew Wilkinson, chief economic strategist for Miller Tabak. “The next 20 points in the S&P 500 are probably predicated on what he has to say.”
Stocks on Wall Street finished slightly lower on Monday, after Chicago Federal Reserve President Charles Evans said the Fed’s policy stance remains appropriate and the improving economy still faces headwinds.
The Dow and S&P 500 are on pace Tuesday to achieve record closes again, as bullish sentiment remains strong.
Goldman Sachs raised its year-end target for the S&P 500 to 1,750.
Deutsche Bank recommended staying long equities and added that valuations implied that the S&P could trade as high as 1,800 by year end.
Bloomberg News Enlarge Image
Home Depot Inc. HD +2.54% was one of the top gainers in the Dow, with its shares up 3.2% after the home-improvement retailer reported a jump in quarterly earnings, buoyed by the recovery in the housing market.
Also in the Dow, J.P. Morgan Chase & Co. JPM +0.15% shares gained 1.7%. The bank’s annual meeting took place in Florida Tuesday and a nonbinding shareholder vote on splitting the CEO and chairman roles — currently held by Jamie Dimon — failed to passed.
Shares of Apple Inc. AAPL -0.74% slipped 0.5%, as Chief Executive Tim Cook defended the tech titan’s tax practices as proper at a Senate hearing Tuesday. A Senate panel has said Apple avoided corporate-income taxes on billions of dollars in overseas income over the past four years. Read MarketWatch’s live blog on the Apple hearing.
Polya Lesova is MarketWatch's New York deputy bureau chief. Follow her on Twitter @PolyaLesova. Victor Reklaitis is a New York-based markets reporter for MarketWatch.
The Economist - New Selected Articles May 21, 2013: Shipping containers, the Emperor Constantine and Tumblr
Tuesday, May 21st 2
Tuesday, May 21, 2013
Live Blog: JPMorgan's Shareholder Meeting Jamie Dimon held onto his title of chairman after JPMorgan's shareholders defeated a proposal to split the chairman and chief executive role.
BlackRock to Buy Real Estate Investment Firm The money manager BlackRock agreed on Tuesday to buy the European and Asian real estate investment firm MGPA for an undisclosed fee. MGPA had around $12 billion in assets under management at the end of March.
Economic Reports Data on Wednesday will include sales of existing homes for April.
Corporate Earnings Companies scheduled to release quarterly results on Wednesday include Target, Staples, Lowe's, Hewlett-Packard and SeaWorld.
In the United States The Federal Reserve chairman, Ben S. Bernanke, testifies on Capitol Hill before the Joint Economic Committee; and the Fed releases minutes from its Federal Open Market Committee policy meeting of April 30-May 1.
Overseas The Bank of Japan announces a monetary policy decision; Wolfgang Schäuble, the German finance minister, is to discuss a "New Deal for Europe"; and Kazuo Hirai, the chief executive of Sony, talks about his revival plan.
Spot Prices as of close of trading in New York
Tuesday, May 21, 2013
Tuesday, May 21, 2013
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