aussiebear Posted May 14, 2008 Author Report Posted May 14, 2008 http://money.cnn.com/markets/morning_call/ http://www.kitco.com Energy futures Currencies/Au/Ag
aussiebear Posted May 14, 2008 Author Report Posted May 14, 2008 Basically a green day with All Ords +0.2%. Sectors are all over the place: Materials and Miners both +1.5% and at the other end, Financials -1.1%. The big miners are both +2.9% and the golds are all down although not by a big margin: Newcrest -0.5%, Newmont -0.6% and Lihir -1%. Juniors flat. The two major oil producers in the red, Woodside -1% and Santos -1.6%. Caltex +2.7%.
aussiebear Posted May 14, 2008 Author Report Posted May 14, 2008 A general northward drift today. All Ords finished +1% with only two sectors closing down, -0.9% and Healthcare -0.1%. Materials and Miners were way out in front, +3.5% and +3.7% respectively. In the miners, BHP surged +6.1% on speculation that China's Aluminium Corp may be acquiring a chunk and RIO also did well, +4.6%. Golds languished, Newcrest -1.2%, Newmont -0.6% and Lihir -0.7%. Juniors mixed. Oils dithered: Woodside +0.1%, Santos -0.5% and Caltex +2%. A bit of a roller coaster in Asia: China +2.3%, Honkers -0.5%, India +0.3% and Nikkers +1.2%. Over to UK/Europe: http://finance.yahoo.com/intlindices?e=europe
aussiebear Posted May 14, 2008 Author Report Posted May 14, 2008 Australian Wages Growth Slows May 14 (Bloomberg) -- Australia's wages growth unexpectedly slowed in the first quarter, boosting speculation the central bank won't raise interest rates again this year. Hourly pay rates excluding bonuses climbed 0.9 percent from the previous quarter, when they rose 1.1 percent, the statistics bureau said today in Sydney. That's less than the 1.1 percent median estimate in a Bloomberg News survey of 21 economists. ``Today's data may provide some comfort for the central bank,'' said Su-Lin Ong, a senior economist at RBC Capital Markets in Sydney. The economy is ``clearly moderating and today's wage price index is consistent with the Reserve Bank remaining on hold for the foreseeable future.''
aussiebear Posted May 14, 2008 Author Report Posted May 14, 2008 China Industrial Output Growth Cools as Exports Slow May 14 (Bloomberg) -- China's industrial production growth slowed by more than economists estimated in April as U.S. demand for exports weakened. Output rose 15.7 percent from a year earlier, the statistics bureau said today, after climbing 17.8 percent in March. The median estimate of 27 economists surveyed by Bloomberg News was for a 17.5 percent increase. Cement output grew 11 percent in April, slowing from the 26 percent pace in March. Electricity production rose 13 percent, less than the previous 17 percent increase.
aussiebear Posted May 14, 2008 Author Report Posted May 14, 2008 Japan Wholesale Prices Rise on Higher Commodity Costs May 14 (Bloomberg) -- Japan's wholesale prices rose at close to the fastest pace in almost three decades in April, prompting companies to pass higher costs onto clients or absorb them by sacrificing profits. Producer prices climbed 3.7 percent from a year earlier, after a 3.9 percent gain in March, the Bank of Japan said in Tokyo today. The central bank's overseas commodity index of 16 raw materials including crude oil, nonferrous metal and wheat, soared 45.4 percent in April from a year earlier. ----------------- Japan Current-Account Surplus Narrows as Exports Slow May 14 (Bloomberg) -- Japan's current-account surplus narrowed for the first time in three months in March as export growth slowed and oil costs pushed the import bill to a record. The surplus shrank 12.3 percent to 2.88 trillion yen ($27.5 billion) from a year earlier, the Ministry of Finance said in Tokyo today. Shipments to China and other emerging economies may fail to make up for slower demand in the U.S., Japan's largest market. Businesses are being squeezed by record costs of imported oil and commodities. Goldman Sachs Group Inc. says annual profit at Japanese companies will fall for the first time in seven years.
Jetlag Posted May 14, 2008 Report Posted May 14, 2008 Cut to 1%, inflate oil bubble, what's that about war? 662275[/snapback] Iran looks ripe. Heard something about Putin promulgating economic sanctions against Iran before leaving office.
Jetlag Posted May 14, 2008 Report Posted May 14, 2008 China Industrial Output Growth Cools as Exports Slow May 14 (Bloomberg) -- China's industrial production growth slowed by more than economists estimated in April as U.S. demand for exports weakened. Output rose 15.7 percent from a year earlier, the statistics bureau said today, after climbing 17.8 percent in March. The median estimate of 27 economists surveyed by Bloomberg News was for a 17.5 percent increase. Cement output grew 11 percent in April, slowing from the 26 percent pace in March. Electricity production rose 13 percent, less than the previous 17 percent increase. 662290[/snapback] Still growing but fizzling down. Hard landing a'coming?
BusKow Posted May 14, 2008 Report Posted May 14, 2008 US - MBA Purchase Applications (wk5/9 , 2008) 7:00 AM, US - Consumer Price Index (Apr , 2008) 8:30 AM, US - EIA Petroleum Status Report (wk5/9 , 2008) 10:30 AM
BusKow Posted May 14, 2008 Report Posted May 14, 2008 Ten hardest hit metro areas: Cities in California and Florida have been particularly hard-hit. Areas in those states accounted for 9 of the top 10 metropolitan foreclosure rates. The California metro areas of Merced, Stockton, Modesto and Riverside-San Bernardino took the top four spots. In Merced, one out of 66 households was hit by foreclosure in April. In Florida, Cape Coral-Fort Myers came in at number 5, Port St. Lucie-Fort Pierce and Fort Lauderdale came in at numbers 9 and 10. Also making an appearance was Las Vegas, a city that had seen heavy real estate speculation, at number 7 with one in 116 households receiving foreclosure notices. Survey sees more than 243,000 filings, up 65% from a year earlier, creating problems for local governments.
BusKow Posted May 14, 2008 Report Posted May 14, 2008 Requires, for a specified period, the one-cent coin (except for Lincoln Bicentennial Numismatic Pennies) to be produced primarily of steel and treated to impart a copper color to its appearance similar to one-cent coins produced of a copper-zinc alloy. H.R. 5512: Coin Modernization and Taxpayer Savings Act of 2008
alceringa Posted May 14, 2008 Report Posted May 14, 2008 Still growing but fizzling down. Hard landing a'coming? 662294[/snapback] That's meant to be funny, right? 15.7% growth YOY in output is a "fizzle"?
potatohead Posted May 14, 2008 Report Posted May 14, 2008 today's calender Wednesday, May 14, 2008 Exp Prev ET/GMT 0700/1100 May 10 MBA Mortgage Application Survey Refinancing Index +19.3% 0830/1230 Apr CPI CPI +0.2% +0.3% CPI Core +0.2% +0.2% 0835/1235 Boston Fed Pres Rosengren gives keynote speech at Boston Fed conference 0920/1320 Fed Gov Kroszner speaks at Boston Fed conference 1030/1430 May 10 US Energy Dept Oil Inventories Crude Oil Stocks (Net Change) +1.8M +5.7M Gasoline Stocks (Net Change) -100K -800K Distillate Stocks (Net Change) +600K -100K Refinery Usage 85.7% 85% 1640/2040 San Francisco Fed Pres Yellen speaks on "An Introduction to the FOMC" to college students in Tacoma, Wash. teaching them at an early age that it is ok to play in the street
BusKow Posted May 14, 2008 Report Posted May 14, 2008 (RTTNews) - Consumer prices rose less than expected in the month of April, according to a report released by the Department of Labor on Wednesday, with the slower than expected price growth likely to ease recent concerns about the pace of inflation. Consumer Prices Rose 0.2% In April, Core Prices Edged Up 0.1%
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