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Sep 18, 2013

NYT | ALERT FGC BOLSA - FGC FINANCIAL MARKETS SEPTEMBER 18, 2013: Staying the Course at the Fed / America's Sinking Middle Class.


The New York Times | MY ALERTS




FGC BOLSA- FGC FIN

Compiled: September 18, 2013 09:39:56 PM

Editorial

Staying the Course at the Fed
The economy is too weak to justify easing up on supportive policies like multibillion-dollar bond purchases. 


Economic Scene

America’s Sinking Middle Class
The standard of living of most Americans has fallen in the last 25 years.

NYT | Global Update September 18, 2013: In Surprise, Fed Decides Not to Curtail Stimulus Effort.

The New York Times International Herald Tribune
September 18, 2013
Compiled 20:45 GMT

Global Update




TOP NEWS

In Surprise, Fed Decides Not to Curtail Stimulus Effort

By BINYAMIN APPELBAUM
The Federal Reserve said that it would continue to buy $85 billion a month in bonds to encourage job creation and economic growth.

Russia Denounces U.N. Chemical Report on Syria

By STEVEN LEE MYERS and RICK GLADSTONE
Saying the report was biased and incomplete, Russia hardened its stance even as it pressed ahead with a plan to disarm Syria's government of its chemical arsenal.

Gates and Panetta Critical of Obama on Syria

By THOM SHANKER and LAUREN D'AVOLIO
The president's first two defense secretaries, Robert M. Gates and Leon E. Panetta, disagreed on the effectiveness of limited military strikes, but both were skeptical of Russia.
Technology

Video: 120 Seconds With David Pogue: iPhone 5S

The Times's David Pogue decides whether the iPhone 5S is Apple's newest innovative miracle.
Opinion

Editorial

Steps Toward a Less Secret Court

By THE EDITORIAL BOARD
The administration has evolved from secrecy to at least talking about openness since the disclosure of the N.S.A.'s sweeping surveillance program.
WORLD

U.N. Data on Gas Attack Points to Assad's Top Forces

By C. J. CHIVERS
Details buried in a United Nations report indicate the Syrian military launched the chemical attack from the same ridges it used for firing conventional munitions.

Security Council Returns to Role in Syria Conflict

By RICK GLADSTONE
Major differences over a draft resolution emerged, with Russia resisting Western pressure for strong language on enforcing a chemical arms ban.

Taliban Kill Election Official, Then Brag on Twitter

By ROD NORDLAND and JAWAD SUKHANYAR
A rare attack against the Independent Election Commission is seen as an indicator of the insurgents' intent to disrupt the vote next year.
BUSINESS
Economix Blog

Parsing the Fed Announcement

By THE NEW YORK TIMES
Insights from Times correspondents on the Federal Reserve's monetary policy announcement and its effect on the markets.

Slowdowns in Emerging Markets, Well Ahead of Any Fed Action

By KEITH BRADSHER, SIMON ROMERO and CEYLAN YEGINSU
The developing countries have already felt the effects of higher rates in the United States, without the Fed making a decision on changing course.

China Finds Resistance to Oil Deals in Africa

By ADAM NOSSITER
Some cash-starved African states are showing an assertiveness that suggests the days of China's unbridled influence as a mega-investor may be waning.
TECHNOLOGY
Bits Blog

Facebook Removes Dating Ads Featuring Photo of Dead Girl

By VINDU GOEL
The social network apologized for ads placed by a dating service that featured photos of a Canadian girl who committed suicide in April after she had been cyberbullied.
Bits Blog

Outsource Your Memory, With an App

By JENNA WORTHAM
Memoir, a new start-up, wants to take the place of that scrapbook on your smartphone by offering a way to store and organize photos, notes and more.
Bits Blog

A New BlackBerry Phone, but Maybe Too Late

By IAN AUSTEN
The BlackBerry Z30 has a 5-inch touchscreen and a faster processor, but questions about the company's survival, not the phone's specifications, may be at the top of buyers' minds.
SPORTS

Real Madrid Makes Its Intentions Known

By ROB HUGHES
The club, looking for its 10th European title, scored six times as it destroyed Galatasaray in the Champions League.
On Yachting

Weather Delay Doesn't Mean Inactivity

By CHRISTOPHER CLAREY
Even though Tuesday's scheduled races were called off because of high winds there was still plenty of action at this sink-or-swim stage of the America's Cup.

Johan Cruyff, the Great Outsider

By ROB HUGHES
As a player and coach for both Barcelona and Ajax, Johan Cruyff helped the two clubs perfect their styles, but now he is involved with neither after feuding with their boards.
U.S. NEWS

Hagel Orders Reviews of Security Procedures and Clearances

By THOM SHANKER
Defense Secretary Chuck Hagel acknowledged that "red flags" had been missed about the past behavior of the former Navy reservist who shot and killed 12 people at the Washington Navy Yard.

Gunman's Family Left Shocked, Saddened, Mystified

By MARC SANTORA and NATE SCHWEBER
"I am so so very sorry that this happened," the mother of Aaron Alexis said in a statement at her Brooklyn home.

Suspect's Past Fell Just Short of Raising Alarm

By TRIP GABRIEL, JOSEPH GOLDSTEIN and MICHAEL S. SCHMIDT
Aaron Alexis, who the police say killed 12 people at the Washington Navy Yard, had a history of mental health problems and firearm arrests that fell below a level that would have raised red flags.
OPINION
Op-Ed Columnist

Losing the Room

By MAUREEN DOWD
As the capital reels, the president careens, trying to understand the capital.
Op-Ed Columnist

The Man With Pink Hair

By THOMAS L. FRIEDMAN
See what dealing with the Middle East can do to your hair?

DealBook P.M. Edition September 18, 2013: S.E.C. Proposes New Rule on Pay Disclosure.


Wednesday, September 18, 2013
TOP STORY
Luis A. Aguilar, an S.E.C. commissioner, voted in favor of the proposal.
S.E.C. Proposes New Rule on Pay Disclosure The Securities and Exchange Commission voted 3 to 2 on a proposal that would require companies to disclose how much more their chief executives earn compared with their employees.
  • DEALBOOK »
  • DEALBOOK HIGHLIGHTS
    Catterton, a Private Equity Firm, Closes Two Funds at $2.1 Billion
    Catterton, a Private Equity Firm, Closes Two Funds at $2.1 Billion Catterton Partners, a private equity firm focused on consumer companies, said on Wednesday that it had closed on its latest two funds after having raised $2.1 billion.
    Celebrating the Top Women in Banking, but Noting a Lack
    Celebrating the Top Women in Banking, but Noting a Lack American Banker Magazine's annual ranking of the most powerful women in banking revealed a continued lack of women in top jobs.
    Reuters Breakingviews: Jefferies' Results Reflect the Hazards of Fixed Income The revenue that the investment bank Jefferies Group generated from trading bonds, currencies and commodities slumped 85 percent in the three months before September, a far bigger drop than its larger rivals across Wall Street are expecting, says Antony Currie.
    Buzz Tracker
    In Surprise, Fed Decides Not to Curtail Stimulus Effort The Fed said it was concerned that fiscal policy once again "is restraining economic growth," threatening to undermine what the Fed had described just months ago as a recovery gaining strength, Binyamin Appelbaum reported for The New York Times.
    LOOKING AHEAD
    Economic Reports Data to be released on Thursday includes initial jobless claims for the latest week, current-account balance of trade for the second quarter and existing-home sales in August.
    Corporate Earnings Companies scheduled to report on Thursday include Rite Aid and ConAgra.
    In the United States On Thursday, Microsoft is scheduled to meet with analysts.
    Overseas On Thursday, Christine Lagarde, the managing director of the International Monetary Fund, is scheduled to discuss the state of the global economy. 
    Quotation of the Day
    "I would have thought by now that there would be more women in actual C.E.O. roles to put on this list."
    Heather Landy, the editor in chief of American Banker Magazine, on a ranking of the most powerful women in banking.
    DealBook Video
    Blankfein Discusses Goldman's Support of SAC Capital
    Blankfein Discusses Goldman's Support of SAC Capital The chief executive of Goldman Sachs said that if his firm and other banks withdrew their support from SAC, that "would vaporize" the firm.

     

MarketWatch | Wall Street at Close Report September 18, 2013: Stocks rise to records as Fed delays taper

By Kate Gibson, MarketWatch 
 
NEW YORK (MarketWatch)U.S. stocks turned sharply higher on Wednesday, lifting the S&P 500 and Dow industrials to all-time highs, after the Federal Reserve decided to maintain its asset purchases. 

“It just reaffirmed they are data dependent. If you look at the data from their last meeting, economic conditions have gotten worse, not better. So the Fed did the appropriate thing here,” said Art Hogan, market strategist at Lazard Capital Markets. 


The Federal Reserve
 Bloomberg
Fed postpones the moment of truth
The Federal Reserve kept the punch bowl spiked a little longer in a surprise decision that postponed investors’ day of reckoning, writes Howard Gold.
In surprise, Fed decides not to ‘taper’
Here we go again: Fed cuts U.S. growth forecast
Bernanke misquotes another chairman
Fedspeak for the rest of us: Part I
Your guide to Fedspeak: Part II
Stock indexes remained close to session highs as Fed Chairman Ben Bernanke began a nationally televised press conference. 

Surpassing its Aug. 2 record, the S&P 500 index SPX +1.22%  rose to a high of 1,723.51, and was lately up 15.75 points, or 0.9%, to 1,720.69, with utilities leading gains that included all but one of its 10 major sectors. 

Leading gains on the S&P 500, Adobe Systems Inc. ADBE -1.33% surged 7.6% after the provider of graphic-design tools said it had accumulated more than a million customers for its online services.
FedEx Corp. FDX +5.03%  climbed 4.7% after the shipping company reported earnings that beat estimates. 


Fed decision day: what to watch
A preview of the Federal Reserve decision on interest rates as well as its economic forecast and any potential decision to ease its $85 billion monthly bond-buying program. 

Extending gains into a fourth session, the Dow Jones Industrial Average DJIA +0.95% rose to a record of 15,664.8. It was last up 113.65 points, or 0.7%, to 15,643.38, with Alcoa Inc. AA -0.41% leading gains that included 28 of its 30 components. 

The Nasdaq Composite COMP +1.01%  advanced 24.10 points, or 0.7%, to 3,769.83.
For every stock falling, four rose on the New York Stock Exchange, where 399 million shares traded as of 2:40 p.m. Eastern. Composite volume neared 2.4 billion. 

The price of gold GCZ3 +4.24% jumped $35.90, or 2.7%, to $1,345.30 an ounce in electronic trade, after the metal settled down $1.80, or 0.1%, at $1,307.60 an ounce. 

The cost of a barrel of crude rose 2.5% to $107.07. 

The dollar DXY -1.21%  fell sharply against the currencies of major U.S. trading partners, and the yield on the benchmark 10-year Treasury note 10_YEAR -5.30%  fell 9 basis points to 2.759%.
The Commerce Department reported Wednesday that housing starts rose 0.9% to a smaller-than-expected 891,000 annual pace in August. 

“Clearly housing and the economy are vulnerable to higher rates, but I don’t think we should blame higher rates entirely” for disappointing data on housing, said Elizabeth Ptacek, senior vice president and senior credit real-estate analyst at KeyBank. “Tight credit hasn’t changed. It’s very difficult to get a mortgage,” she added. 

“It’s a disappointing headline, but the strength in single-family starts should be welcome, and [it] reinforces our view that the housing recovery remains in place, and housing will continue to support economic growth,” Ptacek said. 
 
Kate Gibson is a reporter for MarketWatch, based in New York.

CFTC May Want Morgan to Admit Market Manipulation: GATA | THE GATA DISPATCH SEPTEMBER 18, 2013.

CFTC may want Morgan to admit market manipulation

Futures Regulator Pursues J.P. Morgan Over 'Whale' Trades
By Scott Patterson, Robin Sidel, and Jamila Trindle
The Wall Street Journal
Tuesday, September 17, 2013

WASHINGTON -- The Commodity Futures Trading Commission, pursuing a probe into last year's "London whale" trades even as other agencies near a settlement with J.P. Morgan Chase, is focusing on a giant trading position that enforcement officials believe distorted prices and misled investors, according to people familiar with the matter. ...

The CFTC is likely to use new powers granted by the Dodd-Frank law that allow it to charge firms for recklessly manipulating markets, say people familiar with the agency's thinking. Previously, the agency had to prove that traders intended to manipulate prices in order to win a case.

One of the sticking points in the CFTC discussions is over whether the bank or its traders manipulated the trades, according to a person familiar with the talks. J.P. Morgan is balking at any CFTC settlement that would require it to admit to manipulation, this person said.

... For the full story:
http://online.wsj.com/article/SB1000142412788732466560457908122098423764...

 Join GATA here:
Gold Investment Symposium 2013
Luna Park Conference Center, Sydney, Australia
Wednesday-Thursday, October 16-17, 2013

http://gold.symposium.net.au/
Mines and Money Australia
Melbourne Conference and Exhibition Centre
Tuesday, October 29-Friday, November 1, 2013
http://www.minesandmoney.com/

Building Permits in August 2013 were at seasonally adjusted rate (SAAR) down 3.8% from revised July and up 11.0 % from August 2012...: ESA | New Residential Construction (August 2013). pdf.

Economics and Statistics Administration Logo
Building permits in August 2013 were at a seasonally adjusted annual rate (SAAR) of 918,000, down 3.8 percent from the revised July rate and up 11.0 percent from August 2012. Housing starts in August 2013 were at a SAAR of 891,000, up 0.9 percent from the revised July estimate and up 19.0 percent from August 2012

NFA fines New York forex firm FXDirectDealer LLC $1.1 million and orders the firm to pay $1.8 million in restitution to customers: NFA | Enforcement Actions September 18, 2013.

 

NYT | ALERT FGC BOLSA - FGC FINANCILA MARKETS SEPTEMBER 18, 2013: Fed, in Surprise Move, Postpones Retreat From Stimulus Campaign.

The New York Times | MY ALERTS

FGC BOLSA- FGC FIN

Compiled: September 18, 2013 02:36:26 PM

Fed, in Surprise Move, Postpones Retreat From Stimulus Campaign The Federal Reserve said that it would continue to buy $85 billion

BIV Today's Business News September 18, 2013: Economy at tipping point to growth: Bank of Canada governor.



Economy and Finance

Economy at tipping point to growth: Bank of Canada governor

Many conditions are in place for “natural” economic growth to return in Canada, Stephen Poloz said at a Vancouver Board of Trade event September 18, his first speech in ... READ MORE

 

Canadians prepare to keep working past retirement: HSBC

Canada has one of the highest proportions of workers in the world who feel they will never be able to ... READ MORE

Mining and Energy

 

Canada losing $50 million per day from landlocked oil: Chamber of Commerce

Remaining dependent on the United States as the only foreign market for its oil and gas exports will cost Canada up to ... READ MORE

Politics and Policy

 

Municipalities right to look beyond property tax: BC Chamber

B.C.’s municipal leaders are on the right track with some portions of its plan to reform ... READ MORE

Technology

 

BDC to invest $135 million in healthcare technology sector

B.C. technology companies focused on health care and life sciences may have a new vehicle for growth thanks to ... READ MORE

More News...

   

Canada one of the world’s most economically free countries: Fraser Institute

Municipalities get recycling reprieve

North Shore Credit Union expanding reach with name change

New database to help find Aboriginal businesses across Canada

This Week's Issue

 

Canada Post seeking delivery from debt burden

Door-to-door delivery at risk as national mail carrier grapples with projected $1 billion ... READ MORE


MoneyShow Investors Daily Alert September 18, 2013: Four Favorites for Income.


INVESTORS DAILY ALERT
Jim Jubak on MoneyShow.com
TOP PROS' TOP PICKS
GURUS' VIEWS & STRATEGIES
Four Favorites for Income, Richard Moroney
CHARTS IN PLAY
PORTFOLIO STRATEGIES
IDEAS FROM AROUND THE WORLD
Today's Featured Videos
Non-Bank Banks, Neil George