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May 23, 2013

Gerald Celente - RTTV Prime Interest - May 15, 2013.

Goldbroker interviews GATA secretary about gold market manipulation: GATA I THE GATA DISPATCH May 23, 2013.

Goldbroker interviews GATA secretary about gold market manipulation

3:38p ET Thursday, May 23, 2013

Goldbroker's Fabrice Drouin Ristori interviewed your secretary/treasurer about gold market manipulation the other day, leading off with the question of how long it can continue, and the interview was posted today here:

https://www.goldbroker.com/news/interview-chris-powell-gata-about-precio...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

MarketWatch I Asian Markets Latest News on May 23, 2013 -23:15p.m. EDT-.


Asia

Japan stocks recover modestly after steep sell-off Japanese stocks stage a modest recovery after Thursday’s heavy sell-off amid expectations that the Tokyo rally may have further to go, while other Asia markets show more tepid gains.  
 
Hong Kong stocks rebound; Lenovo, ICBC higher HONG KONG (MarketWatch) -- Hong Kong stocks rebounded early Friday on bargain buying after steep losses in the previous session, with Lenovo Group Ltd. extending gains after solid annual results and most financial stocks rising as Japanese and mainland Chinese shares advanced. The Hang Seng Index rose 0.4% to 22,757.78, after suffering three straight days of losses, including a 2.5% drop Thursday. The Hang Seng China Enterprises Index gained 0.6% to 10,805.31. Shares of Lenovo rose 3.7%, on top of the 2.9% advance Thursday in the wake of . Shares of Industrial & Commercial Bank of China Ltd. gained 0.7% and Bank of China Ltd. rose 0.8% among banks, with China's Shanghai Composite adding 0.5% to 2,285.98. 9:51 p.m. Today
 
Australia stocks extend selloff LOS ANGELES (MarketWatch) -- Australian stocks fell in early trade Friday, extending a selloff that pushed the benchmark to a one-month low Thursday after disappointing data from China, Australia's largest export market. The S&P/ASX 200 turned lower by 0.3% at 5,047.80, following its loss of 2% in the previous session after an in May manufacturing activity in China. Banking stocks lost grip of gains, with Westpac Banking Corp. off 1.3%, and energy issues struggled, with Woodside Petroleum Ltd. down 0.2%. Mining stocks were mixed, with Rio Tinto Ltd. lower by 0.2%, but Newcrest Mining Ltd. up 2.6% after gold futures rallied overnight. In other action, shares of Echo Entertainment Group Ltd. dropped 11% after Crown Ltd. sold a 10% stake in the casino operator. For the week, the S&P/ASX 200 was poised to lose about 2.5%. 8:44 p.m. Today

Wall Street at Close Report by CNBC; May 23, 2013.

 

Stocks Rebound to Close Modestly Lower; HP Surges 17%


Stocks closed modestly lower rebounding sharply in a volatile session as market participants weighed better U.S. economic data against the fears the Fed may soon start to curtail its bond buying.

The Dow Jones Industrial Average shed 12.67 points, or 0.08 percent, to close at 15294.50, getting support from Hewlett-Packard's 17 percent surge. The company posted strong earnings which CEO Meg Whitman attributed the strong results to a better-than-expected performance in enterprise services and printing.

The S&P 500 shed 4.83 points, or 0.29 percent, to close at 1650.52, while the Nasdaq ended down 3.88 points, or 0.11 percent, to close at 3459.42.

The Dow was down as much as 127 points, while the S&P 500 was off 20 points at the lowest levels of the morning.

Among S&P sectors, utilities and financials fell, while telecoms posted a modest gain. It was a volatile open for some utilities with American Electric and NextEra plunging sharply before recovering.

"Volatility still hasn't gone away," John Hailer, CEO of Natixis Global Asset Management, said. "There's a lot of volatility in this market."


But he doesn't expect a big correction since stocks are not yet overly expensive. "You might have some pullback but it doesn't mean you don't want to get into the equity markets. There still could be some run here," Hailer said.

(Read More: The 10 Stocks That Hedge Funds Love Most)


US Economic Data Provides Support
 
Uri Landesman, president of Platinum Partners, called the market's comeback "impressive," saying "the U.S. data gave people a little bit of comfort."


Initial jobless claims fell to 340,000 for the week ended May 18 from 363,000 the prior week. The flash Markit manufacturing PMI was also stronger than expected for May and new home sales rose.
UBS's Jeremy Zirin also pointed to the economic data as reason for the market comeback.

Paulsen: 'Trendless, Sideless Market' in Second Half A big swing for the markets after mixed signals from the Fed on when the central bank will taper its QE program. James Paulsen, Wells Capital Management, says in the market will digest its gains in the second half of the year. Larry Lindsey, former Fed governor, also shares his thoughts. 
"What probably was the trigger for the reversal today: you got better data on housing and better data on jobless claims," Zirin said. "So if the labor market is healing, if home prices are rising, you're going to see an improving economic trajectory throughout the second half of the year. And if that stronger economic growth is driving moderation in the amount of the bond purchase program from the Fed that's a net positive for markets." Fed Uncertainty   Markets were spooked Wednesday when both Fed chairman Ben Bernanke and the minutes from the last policy setting meeting suggested the central bank may be getting closer to tapering bond purchases. According to the Fed minutes, "a number of participants expressed willingness" to reduce quantitative easing as early as June, if economic data suggested sufficiently strong and sustained growth. However, officials differed about what evidence would be necessary, and the likelihood of it materializing. (Read More: Volatile Trading Day Keeps Focus on Fed, Jobs Data) Markets & Economy Are Two Drunks: Pro Jan Randolph, head of sovereign risk at IHS Global, tells CNBC that the financial system is representative of two drunks: the financial markets and the real economy. 
And in his Congressional testimony earlier in the day, Bernanke reiterated the central bank's intention to "maintain highly accommodative monetary policy as long as needed," adding that any near-term decision on scaling back bond purchases depended on an improvement in jobs data. On Thursday, James Bullard, president of the Federal Reserve Bank of St. Louis, said he did not think the Fed was "that close" to starting to curtail quantitative easing, but it was the likely next step if the economy continued to improve and inflation picks up. Landesman said the news that quantitative easing will eventually come to an end should have been more negative for markets since it shows "the Fed isn't going to be the safety net forever." A bear, Landesman expects a correction. "I would expect this market to start correcting downward by the beginning of June," he said. Global Sell Off & Recovery Discussing whether market volatility is here to stay, with John Hailer, Natixis Global Asset Management president & CEO, and Patrick Kaser, Brandywine Global Investment Management.
Asia Weakness   Weak Chinese data also weighed on U.S. and global markets.The flash HSBC Purchasing Manager's Index (PMI) for May slipped to 49.6, falling under the key 50 level, which divides expansion from contraction, for the first since October. "It is not good and it does increase the chances of a sequential slowdown in the second quarter GDP [gross domestic product]. Simply put, domestic demand this time wasn't strong enough to counter fully the impact of still weak external demand," Donna Kwok, greater China economist at HSBC, told CNBC on Thursday. (Read More: Outlook for China's Economy Just Keeps Getting Worse) A sharp selloff in Japan also kept investors on edge. Japan's benchmark Nikkei 225 fell 7.3 percent with the yen gaining ground and bond yields spiking. That was the index's biggest drop in more than two years. "Almost everything went wrong during the day — the bond market had a bit of a crash, China PMI data, and the yen is stronger. The market is really overheated, all it's looking for is a trigger," Nicholas Smith, Japan strategist at CLSA, told CNBC. (Read More: Perfect Storm Sparks Massive Nikkei Sell-Off)
 

MarketWatch I Wall Street at Close Report; May 23, 2013: U.S. stocks end volatile day with modest loss.




By Polya Lesova and Victor Reklaitis, MarketWatch 

NEW YORK (MarketWatch) U.S. stocks fell modestly on Thursday, substantially paring intraday losses after upbeat U.S. economic reports and gains for Hewlett-Packard Co. countered worries about the Federal Reserve potentially tapering its bond-buying program. 

Stocks had dropped sharply at the start of trading, taking their cue from a massive selloff in Japanese equities overnight. However, they began to lift off their session lows after the release of housing data mid-morning. 

The session was choppy, with stocks briefly rising into positive territory only to surrender those gains. 

The Standard & Poor’s 500 Index SPX -0.29%  dipped 4.84 points, or 0.3%, to end at 1,650.51, with utilities leading declines among its 10 major sectors and telecommunications the only gainer. The Nasdaq Composite COMP -0.11%  fell 3.88 points, or 0.1%, to 3,459.42. 

After dropping as much as 127 points, the Dow Jones Industrial Average DJIA -0.08%  finished down 12.67 points, or 0.1%, at 15,294.50, with only nine of its 30 components in positive territory.
The blue-chip index was helped by a 17% jump by Hewlett-Packard Co. HPQ +17.10%  following the computer maker’s earnings report. 



Market turmoil spreads to Europe
Concern the Fed is poised to reduce its program to stimulate the U.S. economy hit European financial markets hard after causing turmoil in Asia. 

Japanese stocks led an Asian selloff Thursday, with the Nikkei Stock Average JP:NIK -7.32%  plunging 7.3%, its worst single-day loss since March 2011. 

The Japanese retreat came as 10-year Japanese government bond yields surged to their highest level in more than a year, forcing the Bank of Japan to offer 2 trillion yen ($19 billion) in funds to try to placate markets. An unexpected contraction in Chinese manufacturing also weighed. 


“Yes, stocks really can go down,” said Brian Belski, chief investment strategist at BMO Capital Markets. Before staging a negative reversal Wednesday, the S&P 500 had risen to an intraday record of 1,687.18 representing an 18% gain in 2013 to date.

Nikkei dropped 7.3% in worst day since March 2011.
But Belski, speaking early Thursday, added that he views the current action as just a pullback. 

“Do we believe the bull market is over? Categorically no,” he said. “This is a calm. This is a respite. This is not 2008.” 

Other strategists also have said they’re not expecting a deep drop for U.S. equities, saying the Nikkei was more “stretched.” Read: Nikkei’s U-turn may not be the big trigger for a Wall Street pullback.
 
U.S. stock futures had been sharply lower ahead of the Wall Street open, but the stock market pared losses as the regular session progressed. That signals there were people with money on the sidelines waiting to buy on a sloppy day, said Robert Doll, chief equity strategist at Nuveen Asset Management. Read more about Doll’s comments on the market. 


“Markets don’t like change and transition” and there will be bumpiness, Doll said Thursday. However, “this is not the end of the bull market.” 

On Thursday morning, figures for new-home sales came out and beat expectations. Sales of new U.S. homes edged up in April to the second-highest post-recession level, reaching a seasonally adjusted annual rate of 454,000. Economists polled by MarketWatch expected 430,000. 

Before Thursday’s open, data showed that U.S. weekly jobless claims dropped by 23,000 to 340,000 in the week ended May 18, keeping the level of initial claims in a range consistent with modest job growth. 

In addition, the Federal Housing Finance Agency released its home-price report for March before the open, saying U.S. home prices rose a seasonally adjusted 1.3% in March

Markit also said its flash manufacturing purchasing managers index for May fell to 51.9. That is the lowest reading since October, but Markit’s overall report was mixed. 

St. Louis Fed President James Bullard spoke Thursday in London on monetary policy, but his comments were identical to a speech he gave earlier in the week, in which he said the bond-buying program should continue. Wall Street had a wild ride Wednesday on Fed tapering fears, with the S&P 500 losing 13.81 points, or 0.8%, to 1,655.35. 

On the earnings front, shares of Hewlett-Packard jumped after the computer maker reported second-quarter results and an outlook above expectations. 

Ralph Lauren Corp. RL -2.32%  fell 2.3% after the clothing maker posted adjusted earnings that topped estimates, but revenue missed views

European stocks fell sharply Thursday, with the Stoxx Europe 600 index XX:SXXP -2.12% ending down 2.1%. 

Polya Lesova is MarketWatch's New York deputy bureau chief. Follow her on Twitter @PolyaLesova. Victor Reklaitis is a New York-based markets writer for MarketWatch. Follow him on Twitter @VikRek.

 

I.S.S. Settles Investigation Into Leaks of Shareholder Vote Data: DealBook P.M. Edition; May 23, 2013.




TOP STORY
I.S.S. Settles Investigation Into Leaks of Shareholder Vote Data Institutional Shareholder Services agreed to settle civil charges that it failed to prevent an employee from improperly selling confidential investor vote data.
  • DEALBOOK »
  •  
  •  
    DEALBOOK HIGHLIGHTS
    A Rush to Recruit Young Analysts, Only Months on the Job For Wall Street's top young analysts, landing at a prestigious investment bank out of college was the easy part. Now comes the fierce competition to line up a high-paying job at a prominent buyout fund, just months into their first professional jobs.
    California Commission Approves SoftBank's Bid to Buy Sprint A California state commission voted on Thursday to approve SoftBank's $20.1 billion bid to buy a majority stake in Sprint Nextel, fulfilling the Japanese company's necessary quota of state regulatory approvals for its proposed transaction.
    Regulator Cites Flaws in Ernst & Young Procedures The regulator of accounting firms said that Ernst & Young had been too willing to trust figures supplied by corporate executives and had failed to improve its procedures.
    Warm Welcome at Deutsche Bank Meeting, Followed by Rancor The annual Deutsche Bank shareholders meeting began with applause for Anshu Jain, the bank's co-chief executive, but attention quickly turned to the myriad problems that the bank has been trying to shake.
    Rue21 to Sell Itself to Apax for $1.1 Billion The leveraged buyout caps the resurgence of rue21, a seller of cheap, trendy clothing for teenagers that had filed for bankruptcy in 2002 and re-emerged the next year. In recent years, its stock has surged.
    Britain Fines JPMorgan's Wealth Unit British regulators fined JPMorgan Chase $4.7 million on Thursday for failings in its wealth management division.
    Buzz Tracker
    Ally to Pay Residential Capital $2.1 Billion to Settle Claims The settlement is more than twice the amount proposed in an earlier pact, which took fire from creditors who deemed it too low, and will help ResCap as it plans an exit from Chapter 11.
    LOOKING AHEAD
    Economic Reports Data on Friday will include durable goods orders for April.
    Quotation of the Day
    "It's not fair because these kids get barely any on-the-job training before a recruiter reaches out to them. We should just be recruiting these kids out of middle school. Forget high school, college and Goldman Sachs."
    A private equity executive who oversees his firm's hiring efforts.

BIV Today's Business News; May 23, 2013: City of Vancouver to reach out with social media, community events





Ports and Shipping

Surrey Board of Trade endorses controversial coal expansion

The Surrey Board of Trade is throwing its support behind a proposed expansion of ... READ MORE

Politics and Policy

 

City of Vancouver to reach out with social media, community events

The City of Vancouver will hold a city-wide block party, use social media and improve development signage in an attempt to ... READ MORE

Technology

 

Smart meter progress delayed by non-installation at opponents' homes

The CEO of BC Hydro ordered crews to stop installing smart meters if account holders who said they opposed the devices were ... READ MORE

Mining and Energy

 

BioteQ inks deal with Teck on selenium treatment

Teck Resources Ltd. (TSX:TCK) is investing roughly $900,000 in a new treatment process being ... READ MORE

More News...

   

EU-Canada agreement conference to be held in Vancouver

Canadian biotechs must do better to attract investment: Ernst & Young

McKim first inductee into Advertising Wall of Fame

This Week's Issue

 

Environmentalists push for B.C. carbon budget

Premier Christy Clark has promised to balance the provincial budget using ... READ MORE

CMI Gold and Silver Spot Prices as of Close of Trading in New York; May23, 2013.


Spot Prices as of close of trading in New York
Thursday, May 23, 2013

Today Change Week Ago Month Ago Year Ago
GOLD $1,393.95 +$24.40 $1,389.10 $1,411.20 $1,549.70
SILVER $22.58 +$0.05 $22.73 $22.95 $27.61
PLATINUM $1,460.00 -$10.40 $1,486.60 $1,419.70 $1,417.50
PALLADIUM $741.00 -$12.00 $744.10 $674.80 $594.50

The Conscience of a Liberal Elementary, My Dear Watanabe-san (Somewhat Wonkish); by Paul KrugmanThe New York Times Opinion Today; May 23, 2013.

May 23, 2013

Opinion Today



Opinionator

Kill Bill

Political techniques may have changed, but lobbyists still deliver a terrific return on investment.
Op-Ed Contributor

Defining My Dyslexia

Perhaps I've succeeded not despite, but because of, my disability.
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'Ode to Bike Sharing'

In this animation, a New Yorker looks forward to the city's bike-share program and reminisces about riding his bike when the city was very different.
Op-Ed Contributor

Obama's Forgotten Victims

Pakistan's government must end its complicity in the American drone war that has killed and maimed many innocent civilians.
How Can Marijuana Be Sold Safely?
Room for Debate

How Can Marijuana Be Sold Safely?

Legalizing pot is the easy part. Figuring out how to regulate and tax the marketplace is much more complex.
Why Do I Teach?
Opinionator | The Stone

Why Do I Teach?

We should judge teaching not by the amount of knowledge it passes on, but by the enduring excitement it generates.
The Last 15 Feet at Vicksburg
Opinionator | Disunion

The Last 15 Feet at Vicksburg

Two officers from Illinois face a deadly challenge in Mississippi.
When You Build a Small Roof for the Dog
Latitude

When You Build a Small Roof for the Dog

Some are holding up Cambodia as a model for manufacturing practices in a poor country. They shouldn't.
ADVERTISEMENT
Editorial

The C.I.A.'s Part in Benghazi

Lost in the focus on the State Department are pressing questions about the C.I.A.'s role.
Editorial

Justice Interrupted in Guatemala

After a serious setback, the former dictator's case must be pursued to a conclusion.
Editorial

Aftermath of an Unfounded Vaccine Scare

A measles outbreak in Britain would have never occurred if parents had respected the proven safety record of a vaccine.

The Opinion Pages

Read the full opinion report, including editorials, columns, op-eds and Opinionator. Go to the Section »
Abortion After 20 Weeks
Taking Note

Abortion After 20 Weeks

States are pushing for new restrictions on reproductive freedom. But the courts are swatting at least some of these down.
The Gun Report: May 23, 2013
Joe Nocera's Blog

The Gun Report: May 23, 2013

A day in the life of armed America.
The Trajectory of Suicide
Evaluations

The Trajectory of Suicide

Newsweek takes on the upward trend in suicide rates.
Elementary, My Dear Watanabe-san (Somewhat Wonkish)
The Conscience of a Liberal

Elementary, My Dear Watanabe-san (Somewhat Wonkish)

What was that about?
Science Group Criticizes Politicians for Global Warming Distortions
Dot Earth Blog

Science Group Criticizes Politicians for Global Warming Distortions

A nonprofit group representing scientists dings officials at both ends of the political spectrum for global warming distortions.

Why Dividend Stocks Still Make Sense, Howard Gold: MoneyShow Investors Daily Alert May 23, 2013.

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