MarketWatch.com - Pre-Market Indications

Friday, April 30, 2010

Indications: U.S. stock futures pare rise after GDP report

Stock Assault 2.0 - Artificial Intelligence Stock Market Software Alert Email Print

By Steve Goldstein & Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- U.S. stock futures retained slight gains Friday after the government estimated the economy grew 3.2% in the first-quarter, as consumer spending accelerated the most in three years.

The Commerce Department estimate came in as analysts polled by MarketWatch expected. Read more about drivers of growth.

S&P 500 futures rose 0.4 points to 1,205.7 and Nasdaq 100 futures rose 2.5 points to 2,043.50. Futures on the Dow Jones Industrial Average rose 7 points.

"The economy is gradually laying the foundation for a sustainable recovery," said Peter D'Antonio, economist for Citigroup Global Markets, in a note to clients.

TODAY'S INTERNATIONAL MARKET STORIES

Global Dow

• MarketWatch Topics: Greece • Asia Markets | Europe Markets | LatAm Markets • Canadian Markets | Israel Stocks | London • U.S.: Market Snapshot | After Hours

Tools• Latin American/Canadian indexes • European indexes | Asian indexes

More on the Markets • Bond Report | Oil News | Earnings Watch • Currencies | U.S. Economic Calendar

Strategy and Outlook • Southern Europe stocks swim against tide • The euro zone's undoing is now plausible • Latin American inflation not the threat it was • The Emerging Markets Report

Earnings • Barclays profit climbs 29% as provisions fall • Total's profit up 14% on higher oil prices, output • WPP forecasts better first-half profit

/conga/story/misc/international.html 73931

Overseas, Spain's jobless rate rose to over 20% in the first quarter as the euro-zone jobless rate held at 10% in March. See Spain story.

Greek stocks extended gains, with the ASE Composite up 1.3%, and the euro /quotes/comstock/21o!x:seurusd (CUR_EURUSD 1.3304, +0.0065, +0.4910%) also advancing amid reports Greece has agreed to a 24 billion euro austerity package in exchange for joint aid from the International Monetary Fund and the euro zone. See story.

Asian markets also generally were stronger.

On Friday, ratings agency Moody's Investors Service downgraded the bank financial strength ratings and the deposit and debt ratings of nine Greek banks. The move reflects "their weakening stand-alone financial strength and the anticipated additional pressures stemming from the country's challenged economic prospects," the agency said.

Goldman Sachs /quotes/comstock/13*!gs/quotes/nls/gs (GS 146.02, -14.22, -8.87%) fell more than 4% as The Wall Street Journal reported federal prosecutors are conducting a criminal investigation into whether it or its employees committed securities fraud, following a referral from the Securities and Exchange Commission on its complaint over the sale of collateralized debt obligations.

The report said the Goldman probe, by the Manhattan U.S. Attorney's Office, is at a preliminary stage. Many criminal probes are launched without the government bringing charges, the report noted.

Barclays /quotes/comstock/13*!bcs/quotes/nls/bcs (BCS 20.73, -1.60, -7.17%) dropped in London trade as the U.K. bank reported a 29% profit rise that disappointed analysts, particularly as the group's fixed income division didn't match some peers. See Barclays story.

BP /quotes/comstock/13*!bp/quotes/nls/bp (BP 52.90, +0.34, +0.65%) rose while Transocean /quotes/comstock/13*!rig/quotes/nls/rig (RIG 74.33, -4.19, -5.33%) fell in early premarket action, following their steep losses as analysts debate the costs from the oil spill in the Gulf of Mexico. BP's market capitalization has dropped by around $25 billion since a rig fire was announced. See related story.

The IntercontinentalExchange /quotes/comstock/13*!ice/quotes/nls/ice (ICE 119.13, +0.31, +0.26%) said it's buying Climate Exchange for around $600 million in cash. See full story.

U.S. stocks rallied Thursday, helped by supportive economic data, earnings from the health sector, apparent diluting of financial legislation and moves in Germany to bring forward a debate on delivering Greek aid. The Dow Jones Industrial Average climbed 122 points in its best one-day advance since March 5.

Steve Goldstein is MarketWatch's London bureau chief. Kate Gibson is a reporter for MarketWatch, based in New York.


Indications: U.S. stock futures edge up before GDP report

Stock Assault 2.0 - Artificial Intelligence Stock Market Software Alert Email Print

By Steve Goldstein, MarketWatch

LONDON (MarketWatch) -- U.S. stock futures inched up Friday in anticipation that first-quarter GDP won't derail the positive outlook several companies have delivered during earnings season and that a Greek aid package may be locked up by the weekend.

S&P 500 futures rose 1.5 points to 1,206.80 and Nasdaq 100 futures rose 3.75 points to 2,044.70. Futures on the Dow Jones Industrial Average rose 14 points.

Traders on Friday will be awaiting U.S. GDP data at 8:30 a.m. Eastern, expected to show slower but more balanced growth compared to the fourth quarter.

U.S. real GDP probably grew at a 3.2% seasonally adjusted annual rate in the first three months of the year, down from 5.6% in the fourth quarter, according to economists surveyed by MarketWatch.

"The economy is gradually laying the foundation for a sustainable recovery," said Peter D'Antonio, economist for Citigroup Global Markets, in a note to clients.

TODAY'S INTERNATIONAL MARKET STORIES

Global Dow

• MarketWatch Topics: Greece • Asia Markets | Europe Markets | LatAm Markets • Canadian Markets | Israel Stocks | London • U.S.: Market Snapshot | After Hours

Tools• Latin American/Canadian indexes • European indexes | Asian indexes

More on the Markets • Bond Report | Oil News | Earnings Watch • Currencies | U.S. Economic Calendar

Strategy and Outlook • Southern Europe stocks swim against tide • The euro zone's undoing is now plausible • Latin American inflation not the threat it was • The Emerging Markets Report

Earnings • Barclays profit climbs 29% as provisions fall • Total's profit up 14% on higher oil prices, output • WPP forecasts better first-half profit

/conga/story/misc/international.html 73931

Overseas, Spain's jobless rate rose to over 20% in the first quarter as the euro-zone jobless rate held at 10% in March. See Spain story.

Greek stocks extended gains, with the ASE Composite up 1.3%, and the euro /quotes/comstock/21o!x:seurusd (CUR_EURUSD 1.3324, +0.0085, +0.6420%) also advancing amid reports Greece has agreed to a 24 billion euro austerity package in exchange for joint aid from the International Monetary Fund and the euro zone. See story.

Asian markets also generally were stronger.

Goldman Sachs /quotes/comstock/13*!gs/quotes/nls/gs (GS 160.24, +3.23, +2.06%) fell nearly 4% as The Wall Street Journal reported federal prosecutors are conducting a criminal investigation into whether it or its employees committed securities fraud, following a referral from the Securities and Exchange Commission on its complaint over the sale of collateralized debt obligations.

The report said the Goldman probe, by the Manhattan U.S. Attorney's Office, is at a preliminary stage. Many criminal probes are launched without the government bringing charges, the report noted.

Barclays /quotes/comstock/13*!bcs/quotes/nls/bcs (BCS 22.33, +0.85, +3.96%) dropped in London trade as the U.K. bank reported a 29% profit rise that disappointed analysts, particularly as the group's fixed income division didn't match some peers. See Barclays story.

BP /quotes/comstock/13*!bp/quotes/nls/bp (BP 52.56, -4.78, -8.34%) rose while Transocean /quotes/comstock/13*!rig/quotes/nls/rig (RIG 78.51, -6.32, -7.45%) fell in early premarket action, following their steep losses as analysts debate the costs from the oil spill in the Gulf of Mexico. BP's market capitalization has dropped by around $25 billion since a rig fire was announced. See related story.

The IntercontinentalExchange /quotes/comstock/13*!ice/quotes/nls/ice (ICE 118.82, +2.37, +2.04%) said it's buying Climate Exchange for around $600 million in cash. See full story.

U.S. stocks rallied Thursday, helped by supportive economic data, earnings from the health sector, apparent diluting of financial legislation and moves in Germany to bring forward a debate on delivering Greek aid. The Dow Jones Industrial Average climbed 122 points in its best one-day advance since March 5.

Steve Goldstein is MarketWatch's London bureau chief.


NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Friday, Apr 30, 2010 :

STOCKS TRADING ON NYSE Arca AT A PRICE 15% OR MORE AWAY FROM
THE PREVIOUS TRADE DAY'S CONSOLIDATED CLOSE PRICE (AS OF 08:30:00 ET)

Stock Thursday's Close Current Price Pct Change Current NYSE ARCA Vol
RTP $215.73 $52.89 (75.5%) 43,543
APKT $21.11 $26.91 27.5% 13,901
CSTR $38.20 $47.04 23.2% 17,966
PWER $5.75 $7.06 22.8% 5,400
ATHN $35.38 $30.05 (15.1%) 400


10 MOST ACTIVE STOCKS ON NYSE ARCA AS OF 08:30:00 ET

BASED ON DOLLARS TRADED: | BASED ON SHARES TRADED:
Stock $ Volume Price PctChg | Stock Share Vol Price PctChg
SPY $61,718,203 $121.16 0.3% | C 2,553,101 $4.57 0.2%
GS $54,199,033 $154.50 ( 3.5%) | XLF 1,902,290 $16.52 ( 0.2%)
XLF $31,289,047 $16.52 ( 0.2%) | SPY 509,880 $121.16 0.3%
DNDN $26,569,280 $53.70 7.0% | DNDN 497,420 $53.70 7.0%
C $11,651,930 $4.57 0.2% | GS 350,966 $154.50 ( 3.5%)
BP $11,103,725 $53.27 1.3% | NOK 232,580 $12.13 0.7%
RIG $10,703,972 $76.87 ( 2.3%) | RPRX 221,097 $1.09 24.6%
GLD $10,612,428 $114.95 0.6% | FAZ 219,339 $11.51 0.8%
QQQQ $6,202,574 $50.36 0.3% | BAC 211,892 $18.28 0.0%
AAPL $6,102,313 $270.01 0.5% | BP 208,024 $53.27 1.3%


Price changes may be affected by symbol splits and dividends.

Consolidated close price is the last print (excluding prints with trade
conditions) prior to 4PM ET.

This information is also updated on our web page every morning at 8:35ET:
http://www.tradearca.com/data/volume/daily_update.asp

This material is for informational purposes only.
NYSE Euronext and its affiliates ("NYSE Arca") are not soliciting any action based upon it.
This material is not to be construed as an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal.
Any opinions expressed in this material are NYSE Arca opinions only.
NYSE Arca undertakes no obligation to update any of the information contained in this material in light of new information or future events.
THIS MATERIAL IS PROVIDED BY NYSE ARCA "AS IS" AND WITHOUT WARRANTIES EXPRESS OR IMPLIED.
NYSE ARCA DISCLAIMS ALL WARRANTIES INCLUDING THE IMPLIED WARRANTIES OF MERCHANTIBILITY, TITLE, AND FITNESS FOR A PARTICULAR PURPOSE AS TO THIS MATERIAL.
IN NO EVENT SHALL NYSE ARCA BE LIABLE FOR DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER (INCLUDING BUT NOT LIMITED TO, LOST PROFITS, TRADING LOSSES AND DAMAGES THAT MAY RESULT FROM THE USE
OF THIS MATERIAL, ANY DELAY OR INTERRUPTION OF SERVICE OR OMISSIONS OR INACCURACIES IN THE MATERIAL) WITH RESPECT TO THIS MATERIAL.

Copyright [2010] by NYSE Euronext. All rights reserved. Reproduction and redistribution prohibited without prior express consent.

Thursday, April 29, 2010

Indications: Stock futures retain mild gains after jobs data

Stock Assault 2.0 - Artificial Intelligence Stock Market Software Alert Email Print

By Barbara Kollmeyer & Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- U.S. stock futures retained mild gains higher after data showed jobless claims fell as expected last week and a wave of earnings and Hewlett-Packard's deal to buy Palm pulled investor focus from Europe's sovereign debt worries.

S&P 500 futures rose 6.9 points to 1,197.0 and Nasdaq 100 futures rose 12 points to 2,018.75. Futures on the Dow Jones Industrial Average rose 32 points.

The Labor Department said Thursday initial claims for unemployment benefits declined for a second week in a row to 448,000 last week. Read how claims are down about 28% from year-ago period.

U.S. stocks moderately rebounded on Wednesday after stronger earnings and the Fed reiterated economic conditions warrant leaving rates low for what's likely to be an extended period. That helped take the sting out of the third sovereign debt downgrade in Europe in two days as the Dow Jones Industrial Average rose 0.5%.

There were a number of earnings reports, particularly in the agrichemicals and household products sector.

Exxon Mobil Corp. /quotes/comstock/13*!xom/quotes/nls/xom (XOM 69.36, +0.17, +0.25%) reported first-quarter profits climbed 38%, but shares of the oil giant fell in premarket trade as its results fell under analysts' expectations. Read more about $6.3 billion gain in earnings.

Of the household goods giants, Unilever /quotes/comstock/13*!ul/quotes/nls/ul (UL 30.40, +1.12, +3.83%) /quotes/comstock/13*!un/quotes/nls/un (UN 30.85, +1.04, +3.49%) rose in premarket trade while Procter & Gamble /quotes/comstock/13*!pg/quotes/nls/pg (PG 61.40, -1.77, -2.80%) fell following their first-quarter reports, and Potash fell 2% after its first-quarter result.

Results from oil giant Exxon Mobil /quotes/comstock/13*!xom/quotes/nls/xom (XOM 69.36, +0.17, +0.25%) is on tap.

Palm /quotes/comstock/15*!palm/quotes/nls/palm (PALM 5.77, +1.14, +24.62%) shares surged after Hewlett-Packard /quotes/comstock/13*!hpq/quotes/nls/hpq (HPQ 52.84, -0.45, -0.84%) announced it will acquire the group in a cash deal worth $1.2 billion, which ends months of speculation about the handset maker. H-P shares weakened 0.1% in premarket trade. See more on deal

European markets rebounded on Thursday, as traders put corporate earnings in focus and moved sovereign debt worries to the backburner, at least for now. Debt markets were also calmer in the wake of recent upheaval.

Better-than-expected earnings from heavyweights across Europe such as Unilever and Siemens lifted stocks in the region, which have been battered in recent days. In Asia, stocks traded mixed with banking and metals stocks hurting the Australian market while strong earnings lifted some technology firms in Taiwan.

The euro /quotes/comstock/21o!x:seurusd (CUR_EURUSD 1.3241, +0.0035, +0.2650%) took back a bit of ground against the dollar, trading up 0.3% at $1.3247, after a strong reading on a sentiment indicator for the euro zone.

Barbara Kollmeyer is an editor for MarketWatch in Madrid. Kate Gibson is a reporter for MarketWatch, based in New York.


Indications: Futures higher with data, earnings in focus

Stock Assault 2.0 - Artificial Intelligence Stock Market Software Alert Email Print

By Barbara Kollmeyer, MarketWatch

MADRID (MarketWatch) -- U.S. stock futures edged higher Thursday amid a wave of earnings and Hewlett-Packard's deal to buy Palm as the focus moved away from Europe's sovereign debt worries.

S&P 500 futures rose 5.7 points to 1,195.80 and Nasdaq 100 futures rose 9 points to 2,015.75. Futures on the Dow Jones Industrial Average rose 34 points.

U.S. stocks moderately rebounded on Wednesday after stronger earnings and the Fed reiterated economic conditions warrant leaving rates low for what's likely to be an extended period. That helped take the sting out of the third sovereign debt downgrade in Europe in two days as the Dow Jones Industrial Average rose 0.5%.

TODAY'S INTERNATIONAL MARKET STORIES

Global Dow

• MarketWatch Topics: Greece • Asia Markets | Europe Markets | LatAm Markets • Canadian Markets | Israel Stocks | London • U.S.: Market Snapshot | After Hours

Tools• Latin American/Canadian indexes • European indexes | Asian indexes

More on the Markets • Bond Report | Oil News | Earnings Watch • Currencies | U.S. Economic Calendar

Strategy and Outlook • Southern Europe stocks swim against tide • The euro zone's undoing is now plausible • Latin American inflation not the threat it was • The Emerging Markets Report

Earnings • Siemens raises outlook as profit jumps 54% • Banco Santander posts upbeat profit • ArcelorMittal returns to first-quarter profit • BASF warns on recovery; profit beats estimates • Unilever's first-quarter profit rises 33%

/conga/story/misc/international.html 73636

"Looking ahead to today, weekly jobless claims in the U.S. should be the data focus and markets are looking for an 11,000 decline in initial claims," said Jim Reid, strategist with Deutsche Bank, in a note to investors. Jobless claims are expected at 8:30 a.m. Eastern time.

There were a number of earnings reports, particularly in the agrichemicals and household products sector.

Of the household goods giants, Unilever /quotes/comstock/13*!ul/quotes/nls/ul (UL 29.28, -0.39, -1.31%) /quotes/comstock/13*!un/quotes/nls/un (UN 29.81, -0.33, -1.09%) rose in premarket trade while Procter & Gamble /quotes/comstock/13*!pg/quotes/nls/pg (PG 63.17, +0.54, +0.87%) fell following their first-quarter reports, and Potash fell 2% after its first-quarter result.

Results from oil giant Exxon Mobil /quotes/comstock/13*!xom/quotes/nls/xom (XOM 69.19, +0.92, +1.35%) is on tap.

Palm /quotes/comstock/15*!palm/quotes/nls/palm (PALM 4.63, -0.02, -0.43%) shares surged 27% after Hewlett-Packard /quotes/comstock/13*!hpq/quotes/nls/hpq (HPQ 53.28, +0.03, +0.06%) announced it will acquire the group in a cash deal worth $1.2 billion, which ends months of speculation about the handset maker. H-P shares weakened 0.1% in premarket trade. See more on deal

European markets rebounded on Thursday, as traders put corporate earnings in focus and moved sovereign debt worries to the backburner, at least for now. Debt markets were also calmer in the wake of recent upheaval.

Better-than-expected earnings from heavyweights across Europe such as Unilever and Siemens lifted stocks in the region, which have been battered in recent days. In Asia, stocks traded mixed with banking and metals stocks hurting the Australian market while strong earnings lifted some technology firms in Taiwan.

The euro /quotes/comstock/21o!x:seurusd (CUR_EURUSD 1.3252, +0.0046, +0.3483%) took back a bit of ground against the dollar, trading up 0.5% at $1.3265, after a strong reading on a sentiment indicator for the euro zone.

Barbara Kollmeyer is an editor for MarketWatch in Madrid.


NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Thursday, Apr 29, 2010 :

STOCKS TRADING ON NYSE Arca AT A PRICE 15% OR MORE AWAY FROM
THE PREVIOUS TRADE DAY'S CONSOLIDATED CLOSE PRICE (AS OF 08:30:00 ET)

Stock Wednesday's Close Current Price Pct Change Current NYSE ARCA Vol
PCBC $4.11 $1.60 (61.1%) 546,582
ATSI $2.60 $3.96 52.2% 952,961
PALM $4.64 $5.88 26.7% 9,438,134
RAS $3.16 $3.87 22.5% 27,165
BIDU $621.31 $716.59 15.3% 38,500


10 MOST ACTIVE STOCKS ON NYSE ARCA AS OF 08:30:00 ET

BASED ON DOLLARS TRADED: | BASED ON SHARES TRADED:
Stock $ Volume Price PctChg | Stock Share Vol Price PctChg
SPY $105038590 $120.26 0.8% | PALM 9,438,134 $5.88 26.7%
PALM $55,240,440 $5.88 26.7% | SNV 8,717,115 $2.97 ( 6.9%)
XOM $32,272,940 $68.11 ( 1.6%) | C 1,599,631 $4.53 2.0%
BIDU $27,634,388 $716.59 15.3% | ETFC 1,559,121 $1.74 ( 5.4%)
SNV $25,709,536 $2.97 ( 6.9%) | MOT 1,085,058 $7.35 5.9%
FSLR $11,789,469 $139.58 8.9% | ATSI 952,961 $3.96 52.2%
AAPL $10,105,359 $263.52 0.7% | SPY 874,024 $120.26 0.8%
POT $8,460,179 $108.00 ( 1.0%) | PCBC 546,582 $1.60 (61.1%)
MOT $7,945,846 $7.35 5.9% | XOM 472,746 $68.11 ( 1.6%)
C $7,219,944 $4.53 2.0% | SIRI 389,152 $1.19 2.1%


Price changes may be affected by symbol splits and dividends.

Consolidated close price is the last print (excluding prints with trade
conditions) prior to 4PM ET.

This information is also updated on our web page every morning at 8:35ET:
http://www.tradearca.com/data/volume/daily_update.asp

This material is for informational purposes only.
NYSE Euronext and its affiliates ("NYSE Arca") are not soliciting any action based upon it.
This material is not to be construed as an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal.
Any opinions expressed in this material are NYSE Arca opinions only.
NYSE Arca undertakes no obligation to update any of the information contained in this material in light of new information or future events.
THIS MATERIAL IS PROVIDED BY NYSE ARCA "AS IS" AND WITHOUT WARRANTIES EXPRESS OR IMPLIED.
NYSE ARCA DISCLAIMS ALL WARRANTIES INCLUDING THE IMPLIED WARRANTIES OF MERCHANTIBILITY, TITLE, AND FITNESS FOR A PARTICULAR PURPOSE AS TO THIS MATERIAL.
IN NO EVENT SHALL NYSE ARCA BE LIABLE FOR DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER (INCLUDING BUT NOT LIMITED TO, LOST PROFITS, TRADING LOSSES AND DAMAGES THAT MAY RESULT FROM THE USE
OF THIS MATERIAL, ANY DELAY OR INTERRUPTION OF SERVICE OR OMISSIONS OR INACCURACIES IN THE MATERIAL) WITH RESPECT TO THIS MATERIAL.

Copyright [2010] by NYSE Euronext. All rights reserved. Reproduction and redistribution prohibited without prior express consent.

Wednesday, April 28, 2010

Big Problems With Who Should Regulate

Stock Assault 2.0 - Artificial Intelligence Stock Market Software

One thing the Greek crisis has shown us is that gold is a viable alternative to currencies. In spite of all the manipulation by the US government and the consistent blatant attempts to suppress both gold and silver they come back time after time. Gold finished last week strongly, as did silver and this week they will have to hold off the onslaught of our elitists, as both gold and silver options expire simultaneously.

Gold was soundly bid in London as it was on the continent. Prices were assisted in London by a slowdown in growth on the fears that monetary loosening and stimulus would be needed to keep the economy from plunging again.

The European Commission, ECB, and eurozone members were shocked when the Greek finance minister asked for activation of the financial support mechanism. The EC as usual lied about the request, but eventually admitted that it had been made for $90 billion. Greek bonds have rise n to 11% yields and that is affecting bonds of other eurozone partners, such as Germany. Over the last five months gold expressed in euros has increased in value by 6%, as the public finally gets the message. It is called asset preservation. It is a service gold has performed for the past 6,000 years.

The sludge in Washington and NYC intend to form a Financial Institutions Regulatory Administration that will allow the Fed to takeover every agency such as the CFTC and the SEC, the Comptroller of the Currency, Thrift Management and the FDIC. The Fed would be able to regulate just about everything financial. This consolidation would give the Fed enormous power to act like the SA operated in Germany from 1932 to 1945. They would cast a net out giving themselves unlimited power all under the guise of protecting Americans and others financially. Agencies won’t be eliminated; they will be absorbed silently resulting in financial dictatorial power. As an exampl e it is obvious that the SEC has become a rubber stamp for government and Wall Street. Now we find a supposedly understaffed, under funded agency is loaded with perverts who spend a good deal of their time watching pornography. This revelation has been created to convince Congress that this agency needs to be in stronger hands and who better to do that than the FED. This discovery was no coincidence.

That means the privately owned Fed, which is controlled via the FOMC, which is the instrument of private shareholders, will control everyone’s financial lives. Needless to say they will decide which institutions and corporations will fail and which will survive. Of course, all Illuminist connected firms will survive and corporate power will be solidified by the elitists. This monstrosity will make the FBI, CIA, IRS and Justice Department look like child’s play. The next step would be to bring this regime to the entire world. Eventually it will probably have its SA-type of financial Gestapo. They will eliminate your financial freedom.

They will control the infamous credit rating agencies that were used to create the credit crisis. They will set leverage guidelines, mandatory capital requirements and allow their members to continue to run roughshod over Americans. All private and public entities will report to them, including municipalities and states. It will set rules to control all credit and lending institutions. They supposedly will control all derivatives and hedge funds run by their friends. We need real regulation but not anything like this. These people are criminals. These are the people who deliberately created the credit crisis to obtain more control over the American people.

A couple of additional beauties to be added would be a Consumer Protection Agency to regulate sales and business practices. The Fed will control their credit issuance and their prices.

This past week the Dow gained 1.7%; the S&P 2.1%; the Russell 2000 3.8% and the Nasdaq 100 2.1%. Banks rose 5.8%; broker/dealers 3.4%; cyclicals rose 3.4%; transports 2.3%; consumers 1.9%; utilities 2.3%; high tech 0.9%; semis 1.7%; Internets 0.8% and biotechs fell 2.5%. Gold rallied $19.00; the HUI gold index gained 3.3% and the dollar gained 0.7% to 81.42.

The two-year Treasury yields jumped 11 bps to 1.025% and the 10-year notes rose 5 bps to 3.82%. The 10-year German bund yield fell 2 bps to 3.06%.

The Freddie Mac 30-year fixed rate mortgage was unchanged at 5.07%; the 15’s fell 1 bps to 4.39%; one-year ARMs rose 9 bps to 4.22%, as the 30-year fixed rate jumbos saw rates fall 3 bps to 5.83%.

Fed credit rose $20.5 billion to $2.318 trillion, up 14.4% year-to-date and 6.9% year-on-year. Fed foreign holdings of Treasury, Agency debt surged again up $21.8 billion to another record of $3.056 trillion. Cus tody holdings have increased $100.9 billion y-t-d or 11.1% annualized, and y-o-y 15.4%.

M2 narrow money supply fell $36.2 billion to $8.467 trillion; year-on-year it grew 1.6%.

Total money market fund assets fell $35 billion to $2.878 trillion. The funds are down $416 billion y-t-d and y-o-y $928 billion, or 24.4%.

Total commercial paper rose $1.5 billion to $1.076 trillion. CP is off $94 billion, or 26.2% y-t-d and 27% y-o-y.

Then they’ll be an Office of National Insurance. A $150 billion industry funded vehicle, which will in reality bail out those too big to fail. It will guarantee obligations of solvent insured depository institutions, holding companies and affiliates. Contrary to what you have been told the Illuminist connected entities will be bailed out.

The game being played at Goldman Sachs is a smoke screen created by those who control the SEC to make sure the Dodd financial reform package is passed. The hedge funds; derivatives, naked shorts, and market manipulators with black boxes will remain relatively untouched. The public needs someone to blame and it will be lower level players at Goldman. The Republican opposition will collapse and the worthless bill will pass - worthless to the public, but full of new riches for the elitists. Bailouts like those you have just seen over the past 2-1/2 years will continue. They’ll be National Insurance, another name, and version of TARP and lots more GE’s, GM’s and AIG’s. Nothing will be done about Geithner’s AIG bailout and his money laundering activities. Nor will there be any investigation of the gold and silver suppression and manipulation. The latter will eventually fall of its ownweight as more and more investors worldwide take possession of these metals. Needless to say the charade makes the president and the Democrats look good. It was Goldman that donated just under $1 millio n to the president’s campaign. As you can see the mosaic all fits together. Goldman makes $13 billion after paying out $16 billion in bonuses to its employees, while receiving taxpayer subsidies. You should get it by now. You are being screwed.

The dire situation with the dollar will worsen due to these antics and the elitists are well aware of that. As we write the dollar is 82.35. It is making a second attempt to break out over 82.50 We believe that will not take place. Recently William Dudley, president of the NY FED said as much. There is simply no escape. He also said interest rates would stay low indefinitely. This is what Japan has done for 18 years and it has been a disaster. People have to be induced to add to their credit card debt and to stop saving. That supposedly will be accomplished by convincing the populace that a recovery is underway. There needs to be business investment and hiring. If you remember in the last issue we pointed out tha t 92% of small business owners believe there won’t be a recovery for at least 14 to 18 months. Thus, we see little help from spending or hiring.

The public is furious with the Fed and Wall Street. Evidence of fraud lies under every rock along with some CEO of a bank or brokerage house.

In actually the real estate and the ensuing fraudulent bond fraud was the last straw in the elitist house of cards. The collapse known as the credit crisis will hobble America for years to come unless the system is purged. The Fed over the last year transferred off of bank balance sheets some $1.7 trillion in bonds, CDO’s, known as toxic waste. The Fed won’t tell us who they were purchased from or what was paid for them. It is another secret. The US taxpayer will pay all the losses, as less Fed profits flow to the Treasury. Don’t forget as well that the 3-card Monte game of the Fed lending money to banks at ½% and then receiving those funds ba ck to earn 2% is also a paid for by the public to enrich the bankers. In the meantime no attempt has been made to fix the broken system. All the money is still flowing to Wall Street. A Wall Street that flourishes on information from the Fed secretly. This is the main reason the Fed has to be disbanded in its current form. In addition we need Glass Steagal bank to separate banking from brokerage, insurance and private equity. The end of the Act in 1999 ushered in the enabling of Wall Street to create the monster that we face today. The same thing happened in the 1920s and helped bring about the depression.

The system cannot tolerate interest rates of more than 1% to 1-1/4% higher than they are now, which means the dollar will have to fall in value. Those moderate rate increases will inhibit speculation, create falling bond and stock markets and Treasury debt service will grow by about $150 billion a year. They will also push up commodity prices and the pr ices of gold and silver. Foreigners holding US dollar denominated assets will be penalized, as will be the purchasing power of Americans domestically as inflation rises.

This brings us full circle back to gold and silver. The revelations of a few weeks ago at the CFTC hearings of LBMA leverage of 100 to one exposes a vast Ponzi scheme in that market as well as in Comex. Eventually participants will demand delivery realizing such an act will push prices higher. Then in time the exchanges won’t be able to deliver and gold and silver trading on the LBMA and Comex will cease and the result will be only a cash market. Those who have sold certificates and had not purchased the underlying metal will also collapse. That leaves commerce only in gold and silver coins, bullion and shares. That is where you should be presently. These events will bring an end to this criminal enterprise and gold and silver will reach their rightful levels. We expect that a middled c ash settlement will bring about the collapse and bankruptcy of many gold and silver traders and many contract holders will never be paid.

These events will spell the end of the gold and silver ETFs, GLD and SLV, unless they are holding only physical silver and gold. We doubt very much that they are and how much have they leased out that will never be returned. The LBMA and the Comex are criminal enterprises and should be prosecuted as such. That applies as well to GLD and SLV if they do not have the physical bullion. If so this is a clear-cut case of criminal fraud. The Illuminists running this scam could spend the rest of their lives in jail or perhaps be hung for treason.

These events would also make the Treasury insolvent if they do not have the gold they say they have and the Fed would as well be insolvent holding near worthless assets. He who has the gold will be making the rules. Eventually no foreigners will buy dollar denominat ed debt and dump all their dollars. Some will buy gold and silver. At that point gold will trade at $7,050 to $7,500 an ounce, if there is no inflation between now and when these events happen.

The fact that five senior executives of Goldman Sachs, including the firms corporate counsel, in possession of inside information; sold $65.4 million worth of stock after the firm received notice of possible fraud charges, which drove the company’s stock down 13%, should be prosecuted. They were co-general counsel Esta Stecher, VP Michael Evans, Michael Sherwood, principal accounting officer Sarah Smith and board member John Bryan. Now lets wait for the criminal charges.

Warren Buffett, who’s firm just paid a $100 million fine for a $200 million fraud is not the humble fellow you thought he was. It is well known he has at least one mistress and who not only has a humble home, but he has expensive real estate in many locations, including Sun Valley and Santa Fe. He is a major Goldman Sachs shareholder and owns Senator Ben Nelson. In fact, Ben put a big pro-Berkshire loophole in the bill for derivative reform. The catch is to exempt existing derivatives contracts. Berkshire’s derivatives portfolio is worth $63 billion. This is the same Warren Buffett who said derivative were instruments of mass destruction.

Over in America government puts on its best face as Europe stumbles along dealing with Greece and other eurozone problems. It won’t be long again before the dollar, which is about to form a double top between 82 and 82.50 on the USDX, will start to descend again to test 74. Globally, financially the world is out of balance especially the US dollar, which should be trading lower to accommodate the balance of payments deficit. Devaluation is the best option for the elitists, especially if it’s done among all countries. Such an event lurking in the wings certainly gives much impetus for higher gold prices. Internationally investors are very mindful of America’s coming devaluation and default, thus any dollar rally should be sold into and any low gold prices are to be bought. The reflection of a lower dollar versus gold is now only 20%, as gold long ago decoupled from the dollar. US fiscal deficits are huge and they will worsen over time as efforts are made to hold up a failing economy. Then, of course, we have zero interest rates indefinitely. That is a 2-edged sword. Corporations and government can borrow cheaply, but savings probably won’t exceed 7%. Those savings, seed money, are disappearing and those funds when absent cannot add to growth in the economy. It also is a terrible cost to the elderly.

As we look back over the past 2-1/2 years we view the credit crisis, caused by bond fraud, as the beginning of the collapse of the US financial collapse. Wall Street may still be looting the public, but the downward trend is irreversibl e. There has not been and there won’t be a recovery.

The 5-year TIPS auction bid to cover was 3.15% versus a prior 3.10%. Indirect bidders fell to 23% from 47.8%.

Senate Democrats agreed Monday to kill a provision from their derivatives bill pushed by Warren Buffett's Berkshire Hathaway Inc. a change one analyst predicted could force the Nebraska company to set aside up to $8 billion.

The Senate Agriculture Committee inserted language into its derivatives bill last week at the request of Sen. Ben Nelson (D., Neb.) that would have exempted any existing derivatives contracts from new collateral requirementsâ€"the money set aside to cover potential losses.

Berkshire has $63 billion in derivatives contracts, and Mr. Buffett has boasted he holds very little collateral against these products. Mr. Buffett's push was notable because he has warned odangers of deriv atives, famously branding them "financial weapons of mass destruction."

Zero Hedge: The "Buffet Amendment" would have exempted all of the existing OTC derivatives contracts from the new collateral requirements in the financial reform legislation. The fact that such a ruse was even necessary illustrates why we need to drive a wooden stake through the heart of OTC securities and derivatives, namely that some of the biggest corporates in the world are allowed to play at the roulette table without buying chips. The "AAA" rated BRK, Caterpillar (CAT) and the other big corporates can trade OTC without posting any collateral or initial margin.

When you trade on a derivatives exchange, all of the customers must post margin. But apparently Warren Buffet, the man who once called OTC derivatives "weapons of mass destruction," now needs to supplement BRK earnings by trading OTC derivatives without any collateral bac king up the trades.

Now we know why BRK, CAT and the other big corporate came oozing out of the woodwork last year to defend the OTC derivatives market. JPMorgan (JPM), Goldman Sachs (GS) and the other OTC dealers let Warren Buffet and the other "AAA" corporates play at the roulette table w/o any chips. Wouldn't you like to be able to sit at the big table and play poker alongside Mr. Buffet w/o actually putting up any cash to back your bets?

The man who inveighed against derivatives for years and called derivatives ‘financial weapons of mass destruction’ holds a massive amount of derivatives. Buff also regularly cries that he should pay more taxes. Now he’s lobbying Congress to ease proposed restrictions on derivatives in order to avoid taking a ‘big hit’. Some might call Warren a ‘hypocrite’? We prefer ‘charlatan’.

Thomas Montag, the former head of sales and trading in the Americas at Goldman Sachs Group Inc. called a set of mortgage-linked investments sold by his firm “one shi**y deal,” according to an excerpt from internal e- mails released today by Senate lawmakers.

The transaction was Timberwolf Ltd., a $1 billion collateralized debt obligation holding pieces of other CDOs, according to a statement today from the Permanent Subcommittee on Investigations. The CDO also included optimistic side-bets on the performance of CDOs, or derivatives, in which the firm took the opposite pessimistic side in “many” cases, the panel said.

“Boy that timberwo[l]f was one shi**y deal,” Montag, who is now Bank of America Corp.’s president of global banking and markets, said in a June 22, 2007, e-mail to Daniel Sparks, who ran Goldman Sachs’s mortgage business at the time, according to the panel’s statement. Within five months of Timberwolf’s debut , the CDO had lost 80 percent of its value, and it was liquidated in 2008, according to the panel.

“The way I look at it, the easiest manager to work with should be used for our own axes,” the author wrote in December 2006, using industry jargon that can refer the firm’s financial interest in a deal. The writer also expressed concern that two firms being considered weren’t likely to sign off on Paulson’s suggested assets. “They will never agree to the type of names Paulson want to use In one e-mail, Tourre emphasized the firm should focus on serving Paulson to reap greater profits.

“We need to be sensitive of the profitability of these trades vs. profitability of abacus,” Tourre wrote in one e- mail, according to businesses with Paulson.”

A top Senate Republican on Thursday accused the administration of misleading taxpayers about General Motors' loan rep ayment, saying the struggling auto giant was only able to repay its bailout money by dipping into a separate pot of bailout money.

GM CEO Ed Whitacre announced in a Wall Street Journal column Wednesday that his company has paid back its government bailout loan "in full, with interest, years ahead of schedule." He is even running TV ads on all major networks to that effect--a needless expense given that a credulous media is only too happy to parrot his claims for free.

So when Mr. Whitacre publishes a column with the headline, "The GM Bailout: Paid Back in Full," most ordinary mortals unfamiliar with bailout minutia would assume that he is alluding to the entire $49.5 billion. That, however, is far from the case. Because a loan of such a huge amount would have been politically controversial, the Obama administration handed GM only $6.7 billion as a pure loan.

But when Mr. Whitacre says GM has paid back the bailout money in full, he means not the entire $49.5 billion--the loan and the equity. In fact, he avoids all mention of that figure in his column. He means only the $6.7 billion loan amount.

But wait! Even that's not the full story given that GM, which has not yet broken even, much less turned a profit, can't pay even this puny amount from its own earnings. So how is it paying it?

As it turns out, the Obama administration put $13.4 billion of the aid money as "working capital" in an escrow account when the company was in bankruptcy. The company is using this escrow money government money to pay back the government loan.

Consumer confidence in the United States improved to 57.9 in April from 52.3 in March. This beats market forecasts of a more moderate increase to reach just 54.2.

US consumer confidence is now at its highest level since September 2008.

The Richmond Fed Manufacturing Index smashed projections by jumping to a score of 30 in April, its highest level since the beginning of the recession, from March's score of 6. The market had only expected a moderate increase to reach a score of just 7.

The S&P/Case-Shiller Home Price Index rose 0.6% in February, up from January's 0.7% fall. The market, however, had expected a greater increase of 1.4%.

Home prices in 20 U.S. cities rose less than forecast in February from a year earlier, a sign a housing recovery will take time to develop.

The S&P/Case-Shiller home-price index of property values in 20 cities increased 0.6 percent from February 2009, the first gain since December 2006, the group said today in New York. The median forecast of economists surveyed by Bloomberg News projected a 1.3 percent advance.

Senate Republicans, united in opposition to the Demo crats’ legislation to tighten regulation of the financial system, voted on Monday to block the bill from reaching the floor for debate. As both sides dug in, the battle has huge ramifications for the economy and for their political prospects in this year’s midterm elections.

Republicans said they were intent on winning substantive changes to the bill and accused the Democrats of rushing the most far-reaching overhaul of the financial regulatory system since the Great Depression. Both sides say they expect the overhaul eventually will be approved.

Democrats charged that Republicans were leaving the country at risk of another financial calamity and siding with wealthy corporate interests. The chief executive of one such firm, Goldman Sachs, the Wall Street powerhouse accused of fraud by federal regulators, is to testify Tuesday before a Senate committee.

Sensing political momentum at a time of deep public anger at Wall Street, Democratic leaders said they would keep the regulatory bill on the floor â€" and delay the rest of their busy legislative agenda â€" to ratchet up the pressure on the Republicans.

As U.S. cities and towns wrestle with financial problems, investors are finding a new way to profit on their misery: by buying derivatives that essentially bet municipalities will default.

These so-called credit default swaps are basically insurance contracts that have long been available to protect holders of corporate bonds against default. They became available a few years ago for municipal debt, allowing investors to short sellâ€"or bet againstâ€"countless cities, towns and bridges, and more than a dozen states, including California, Michigan and New York.

The derivatives are still thinly traded, but their existence has the potential to make investors skittish.


Senior staffers at the Securities and Exchange Commission spent hours surfing pornographic websites on government-issued computers while they were being paid to police the financial system, an agency watchdog says.

The SEC's inspector general conducted 33 probes of employees looking at explicit images in the past five years, according to a memo obtained by the Associated Press.

The memo says 31 of those probes occurred in the 2 1/2 years since the financial system teetered and nearly crashed.

It was writt en by SEC Inspector General David Kotz in response to a request from Sen. Charles Grassley, R-Iowa.

The memo was first reported Thursday evening by ABC News. It summarizes findings of past inspector general probes and reports some shocking findings:

â€" A senior attorney at the SEC's Washington headquarters spent up to eight hours a day looking at and downloading pornography. When he ran out of hard drive space, he burned the files to CDs or DVDs, which he kept in boxes around his office.

â€" An accountant was blocked more than 16,000 times in a month from visiting websites classified as "Sex" or "Pornography." Yet he still managed to amass a collection of "sexually suggestive and inappropriate images" on his hard drive.

â€" Seventeen of the employees were "at a senior level," earning salaries of up to $222,418.

â€" The number of cases jumped from two in 2007 to 16 in 2008. T he cracks in the financial system emerged in mid-2007 and spread into full-blown panic by the fall of 2008.

An SEC spokesman declined to comment Thursday night. [These are the same criminals that allow major brokerage firms to get away with anything and constantly pursue small brokers, small and middle-sized brokerage firms and newsletter writers. Not only do they do the work of the Illuminists but they are a bunch of perverts.]

 



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Indications: U.S. futures drift after Tuesday's rout

Stock Assault 2.0 - Artificial Intelligence Stock Market Software Alert Email Print

By Steve Goldstein, MarketWatch

LONDON (MarketWatch) -- U.S. stock futures turned higher Wednesday after the previous session's rout, with fears over prospects for Southern Europe contagion balanced by strong earnings reports ahead of an interest-rate decision from the Federal Reserve.

After early losses, S&P 500 futures rose 4.3 points to 1,185.30 and Nasdaq 100 futures rose 6.75 points to 2,015.50. Futures on the Dow Jones Industrial Average rose 31 points.

TODAY'S INTERNATIONAL MARKET STORIES

Global Dow

• MarketWatch Topics: Greece • Asia Markets | Europe Markets | LatAm Markets • Canadian Markets | Israel Stocks | London • U.S.: Market Snapshot | After Hours

Tools• Latin American/Canadian indexes • European indexes | Asian indexes

More on the Markets • Bond Report | Oil News | Earnings Watch • Currencies | U.S. Economic Calendar

Earnings • Royal Dutch Shell profit surges 57% • BP reports profit surge as it battles oil spill • Infineon swings to profit, raises revenue outlook • SAP sticks to outlook as profit nearly doubles

/conga/story/misc/international.html 73302

U.S. stocks got hammered Tuesday, after Standard & Poor's downgraded Greece to junk status and also lowered the boom on Portugal's credit rating. The Dow Jones Industrial Average plummeted 213 points, the Nasdaq Composite lost 51 points and the S&P 500 fell 28 points.

Asian markets also were pressured Wednesday.

Southern Europe again was the focus of investors, with Spain's IBEX 35 down over 2% in midday trade. See Europe Markets.

Essentially untradeable two-year Greek debt had yields north of 30%. Outside of gold, which edged up $2 an ounce, most metals futures dropped. The dollar index /quotes/comstock/11j!i:dxy0 (DXY 82.20, +0.05, +0.06%) rose 0.3% as investors sought safe assets.

"Risk aversion appears to be increasing, with gold and the dollar picking up simultaneously again and equity markets nose-diving," said Eugen Weinberg, head of commodity research at Commerzbank, in a note to clients.

German Finance Minister Wolfgang Schaeuble will hold a press conference on Wednesday with Jean-Claude Trichet, president of the European Central Bank, and Dominique Strauss-Kahn, managing director of the International Monetary Fund, at around 9 a.m. Eastern time, as questions linger on whether Germany will participate in making loans to Greece as part of a joint IMF-European Union package and whether the IMF will up their portion.

According to MarketWatch's Mark Hulbert, stock markets generally respond well to sovereign debt fallouts.

Sands Bets Big on Singapore Casino

A few months late and a couple of billion dollars over budget, Sands' new Asian flagship opens its doors. Dow Jones Newswires' Sam Holmes reports.

On average the stock market was 17% higher in one year's time, as measured by the Wilshire 5000 Total Market Index, and even with Tuesday's fall, the reaction to the Greek crisis puts the market ahead of the Mexico peso devaluation, the Asian contagion, the Russian ruble devaluation and the Argentine debt/currency crisis at similar points. See full story.

Meanwhile, Fed officials are due to make known the central bank's decision on U.S. interest-rate policy at 2:15 p.m. Eastern, with the attention on whether the Fed maintains that interest rates will be exceptionally low "for an extended period."

Dow Chemical /quotes/comstock/13*!dow/quotes/nls/dow (DOW 30.07, -1.26, -4.02%) rose 1.4% in premarket trade as the chemicals giant's first-quarter results topped analyst estimates.

Royal Dutch Shell /quotes/comstock/13*!rds.a/quotes/nls/rds.a (RDS.A 61.07, -0.11, -0.18%) also reported stronger-than-forecast results, while Sprint Nextel's /quotes/comstock/13*!s/quotes/nls/s (S 4.09, -0.14, -3.31%) shares fell after reporting a loss.

PNC Financial Services /quotes/comstock/13*!pnc/quotes/nls/pnc (PNC 66.09, -0.68, -1.02%) may be active as the Treasury Department said it plans to sell 16.9 million warrants in the Pittsburgh-based lender.

Steve Goldstein is MarketWatch's London bureau chief.


NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Wednesday, Apr 28, 2010 :

STOCKS TRADING ON NYSE Arca AT A PRICE 15% OR MORE AWAY FROM
THE PREVIOUS TRADE DAY'S CONSOLIDATED CLOSE PRICE (AS OF 08:30:00 ET)

Stock Tuesday's Close Current Price Pct Change Current NYSE ARCA Vol
CIIC $2.13 $2.60 22.0% 211,263
HTCH $7.83 $6.14 (21.5%) 260
BWLD $51.01 $41.24 (19.2%) 18,725
JST $20.91 $17.71 (15.3%) 1,118


10 MOST ACTIVE STOCKS ON NYSE ARCA AS OF 08:30:00 ET

BASED ON DOLLARS TRADED: | BASED ON SHARES TRADED:
Stock $ Volume Price PctChg | Stock Share Vol Price PctChg
SPY $190849498 $119.06 0.5% | C 9,841,858 $4.40 1.2%
C $43,024,010 $4.40 1.2% | S 2,551,787 $3.92 ( 4.2%)
AAPL $42,838,656 $263.68 0.6% | SPY 1,604,193 $119.06 0.5%
GLD $32,552,869 $113.74 ( 0.8%) | F 707,305 $13.42 ( 1.0%)
GS $14,170,188 $155.13 1.4% | BAC 527,907 $17.63 1.0%
S $10,137,866 $3.92 ( 4.2%) | XLF 512,200 $16.11 1.0%
IWM $9,736,747 $72.54 0.6% | NBG 487,550 $2.84 8.3%
F $9,519,613 $13.42 ( 1.0%) | FBC 338,031 $0.69 (10.3%)
BAC $9,250,746 $17.63 1.0% | GE 337,282 $18.69 ( 0.0%)
XLF $8,234,010 $16.11 1.0% | GLD 285,826 $113.74 ( 0.8%)


Price changes may be affected by symbol splits and dividends.

Consolidated close price is the last print (excluding prints with trade
conditions) prior to 4PM ET.

This information is also updated on our web page every morning at 8:35ET:
http://www.tradearca.com/data/volume/daily_update.asp

This material is for informational purposes only.
NYSE Euronext and its affiliates ("NYSE Arca") are not soliciting any action based upon it.
This material is not to be construed as an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal.
Any opinions expressed in this material are NYSE Arca opinions only.
NYSE Arca undertakes no obligation to update any of the information contained in this material in light of new information or future events.
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OF THIS MATERIAL, ANY DELAY OR INTERRUPTION OF SERVICE OR OMISSIONS OR INACCURACIES IN THE MATERIAL) WITH RESPECT TO THIS MATERIAL.

Copyright [2010] by NYSE Euronext. All rights reserved. Reproduction and redistribution prohibited without prior express consent.

Tuesday, April 27, 2010

Indications: U.S. futures extend losses after home-price data

Stock Assault 2.0 - Artificial Intelligence Stock Market Software Alert Email Print

By Steve Goldstein & Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- U.S. stock futures pointed to an opening decline on Tuesday with Goldman Sachs Group Inc. facing questioning from a U.S. Senate panel as to the extent the investment bank profited from the housing market's collapse.

Stock futures fell a bit further after the S&P/Case-Shiller home-price index for February fell 0.9% from the month earlier, although its value rose 0.6% from the year-ago period.

Down 11 points before the home-price report, futures on the Dow Jones Industrial Average edged 23 points lower to 11,128. Futures for the S&P 500 were off 6.7 points at 1,201.5 and Nasdaq 100 futures declined 8.75 points to 2,038.5.

Shareholders sue Goldman

A Goldman Sachs shareholder files a lawsuit Monday against the bank, accusing the firm of failing to disclose a SEC investigation. Plus, Senate Democrats agree to kill a provision from their derivatives bill that would have allowed Berkshire Hathaway to avoid a significant financial hit; and WSJ's Melinda Beck and Laura Landro preview their pieces on the sun and your health.

U.S. stocks meandered on Monday, with the Dow Jones Industrial Average edging up a point behind Caterpillar's improved 2010 outlook while the S&P 500 and Nasdaq Composite finished with moderate losses. Cyclical stocks advanced while defensive sectors declined, and financials were hit as banking reform concerns lingered. See related story on Caterpillar.

Reform plans may be impacted by the hearings in Washington D.C. on Tuesday featuring Goldman Sachs /quotes/comstock/13*!gs/quotes/nls/gs (GS 153.68, +1.65, +1.09%) CEO Lloyd Blankfein and a vice president, Fabrice Tourre, testifying just days after the Securities and Exchange Commission accused to the investment banking stalwart of securities fraud relating to the sale of collateralized debt obligations. See related story on Goldman. See feature on CDOs.

"The financial industry is more interested in seeing the new set of rules and regulations. They can move forward once they know what the game plan is," said Marc Pado, a strategist at Cantor Fitzgerald.

TODAY'S INTERNATIONAL MARKET STORIES

Global Dow

• MarketWatch Topics: Greece • Asia Markets | Europe Markets | LatAm Markets • Canadian Markets | Israel Stocks | London • U.S.: Market Snapshot | After Hours

Tools• Latin American/Canadian indexes • European indexes | Asian indexes

More on the Markets • Bond Report | Oil News | Earnings Watch • Currencies | U.S. Economic Calendar

Earnings • Deutsche Bank profit surges 49% • Lloyds returns to profit as bad-debt charges fall • Norsk Hydro swings to first-quarter profit • BP reports profit surge as it battles oil spill

/conga/story/misc/international.html 73051

Ahead of the Federal Reserve's interest rate decision due Wednesday, Fed Chairman Ben Bernanke will be testifying in front of the National Commission on Fiscal Responsibility.

"We don't expect much in terms of any discussion of the economy or monetary policy, given the week-long blackout period surrounding the FOMC decision on Wednesday," said analysts at Action Economics.

There also will be the Conference Board's consumer confidence gauge to be released at 10 a.m. Eastern.

Earlier on, the International Council of Shopping Centers and Goldman Sachs reported chain-store sales rose 5.5% last week from the year-ago period.

The U.S. Treasury will be selling $44 billion of two-year notes, while Greek bonds continued to trade at big spreads vs. German bonds of equivalent maturity.

"None of what is happening in Europe is likely to dampen the remarkably robust earnings recovery for U.S. companies. Furthermore, the Fed isn't likely to raise the federal funds rate much, if at all, anytime soon. So the choice for believers in Apocalypse Now is to earn nothing on all their cash," wrote Ed Yardeni, chief investment strategist at Yardeni Research Inc.

Earnings season continued as 3M /quotes/comstock/13*!mmm/quotes/nls/mmm (MMM 88.48, +1.04, +1.19%) and DuPont /quotes/comstock/13*!dd/quotes/nls/dd (DD 39.81, -1.14, -2.78%) climbed in premarket trade after the industrial giants hiked their annual earnings guidance. Ford's /quotes/comstock/13*!f/quotes/nls/f (F 13.62, -0.84, -5.81%) return to profitability dragged the U.S. automaker lower by 1.5% in early trade.

U.S. Steel Corp. /quotes/comstock/13*!x/quotes/nls/x (X 57.37, -2.70, -4.49%) reported losses narrowed in the first quarter, while United Parcel Service Inc. /quotes/comstock/13*!ups/quotes/nls/ups (UPS 66.47, -2.05, -2.99%) reported a profit rise of 33% for the period.

Boston Scientific Corp. /quotes/comstock/13*!bsx/quotes/nls/bsx (BSX 7.18, +0.12, +1.70%) fell over 4% as the medical device maker cut its 2010 earnings guidance, citing the impact of a halt in defibrillator sales in mid-March.

Overseas, the Shanghai Composite dropped 2.1% as investors feared possible tightening measures, while the Stoxx Europe 600 dropped 1.2% in late-morning trade, with metals and banking sector stocks leading the slide.

Oil futures fell 83 cents a barrel, and the euro /quotes/comstock/21o!x:seurusd (CUR_EURUSD 1.3206, -0.0186, -1.3889%) dropped vs. the U.S. dollar.

Steve Goldstein is MarketWatch's London bureau chief. Kate Gibson is a reporter for MarketWatch, based in New York.


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