“Some of the U.K.’s biggest banks may be downgraded by Moody’s Investors Service as part of a broad assessment of the global financial industry, Sky News reported, citing no one.
Moody’s may publish its assessment of banks including HSBC Holdings Plc, Barclays Plc (BARC), JPMorgan Chase & Co. and Royal Bank of Scotland Group Plc (RBS) after U.S. markets close later today, Sky reported on its website.”
Comments »NEW YORK (Reuters) – U.S. manufacturing grew in June at its slowest pace in 11 months and hiring in the sector slowed asoverseas demand for U.S. products waned, an industry survey showed on Thursday.
Financial information firm Markit said its U.S. “flash” manufacturing Purchasing Managers Index fell to 52.9 from 54.0 in May. The June reading was the lowest since last July although it stayed above 50, indicating expansion in activity.
For the second straight month, weaker demand from Europe and large emerging markets such as China dented sales. Markit said U.S. manufacturers reported the second largest decline in new export orders since September 2009.”
Comments »I hear they will allow old pianos and coffee tables to be used as collateral now.
Comments »Breaking right now, Aubrey will step down as CEO, but retain role as Chairman.
Comments »Gapping up
SUNH +36.8%, ONXX +27.9%, EGLE +24.2%, SKH +14.5%, QNST +4.1%,
KND +3.9%, LGND +3.8%, EXLS +3.7%, PICO +3.2%, MCP +2.5%, SONC +1.7%,
ASML +2.5%, REE +2.9% , MCP +1.2%, BWEN +17.6%, SKH +14.5%, KND +3.9%, SRZ +2.4%,
RAD +4.3%, SONC +1.7%, CAG +1.1%,
Gapping down
POZN -16.8%, BBBY -10.6%, RHT -10.4%, KEG -6%, AIV -2.8%, VMW -2.6%,
CTXS -2%, TIBX -1%, CIM -1.5%, DCT -2.2% , UA -2.6%, MAIN -5.1%,
JRCC -3.5% , BP -1.9%, STO -1.6%, SDRL -0.9%, RDS.A -0.8%, TOT -0.5%,
SLV -2.1%, AG -1.5%, AUY -1.4%, GLD -1.3%, GDX -1%, GOLD -0.6%, SLW -0.5%,
Comments »Perhaps Blankfein should consult the robots before blaming ‘wallowing investors’ ….
Comments »ARIA, CNP, CIM, FB, HEI, IVZ, L, ONXX, OIS, DGX, SJR, SMBL, TJX, UA, WFM, WWD,
Comments »“Federal Reserve officials extended their efforts to boost the sluggish U.S. economy and said they were ready to do more if necessary to spur job growth.
They acted despite worries inside and outside the Fed that the central bank already has done all it can do to invigorate the disappointing economic recovery.
The Fed said Wednesday it would extend through the end of the year a program known as “Operation Twist,” which aims to drive down long-term interest rates and reduce borrowing costs for businesses and households. Under the program, the Fed sells short-term securities and uses the proceeds to buy longer-term securities.”
Comments »“(Reuters) – Wal-Mart Stores Inc has long used its commercial might to forge a global supply chain with ruthless efficiency. It now has a new target: U.S. wheat fields.
As part of efforts to reduce its carbon footprint and burnish its image as an environmentally responsible company, the huge retailer is sending senior employees into the fields for the first time ever, looking for ways to help farmers reduce their use of carbon-intensive fertilizer or improve logistics.”
Comments »“India’s GDP slowed to 5.3 percent in the January to March quarter. Since then S&P has warned that the country could lose its investment grade, and Fitch revised India’s outlook to ‘negative’.
Sentiment has turned against India not just on a slew of weak economic data, but also the country’s political unwillingness to implement reforms, and on allegations of corruption.
We drew on S&P’s report, “Will India Be The First BRIC Fallen Angel?” for a broader look at what’s got everyone bothered about the Indian economy.”
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“U.K. retail sales rose more than economists forecast in May, recovering some of the ground lost the previous month when poor weather damped demand.
Sales including auto fuel gained 1.4 percent from April, the Office for National Statistics said today in London. The median forecast of 20 economists in a Bloomberg News survey was for a 1.2 percent increase. Retail sales fell a revised 2.4 percent in April, curbed by the wettest April on record. Excluding fuel, sales increased 0.9 percent in May.”
Comments »New Zealand has cause to celebrate as last q marked the best quarter of growth in five years.
Comments »China is nearing 8 months of contraction in manufacturing and overall growth. The measure of their economy is just about as bad as it was in 2008. Their PMI is now in recession territory @ 48.1. Stimulus thus far has failed to stem the slowdown.
Comments »“Australia’s dollar slid and New Zealand’s pared an earlier gain as Asian stocks declined and Chinese data added to signs the global growth is slowing, damping investor appetite for higher-yielding assets.
The so-called Aussie and kiwi fell from seven-week highs as a report signaled Chinese manufacturing may shrink for an eighth month and commodities dropped to the lowest level since 2010. The Federal Reserve yesterday decided to not implement more asset purchases and lowered growth forecasts. The New Zealand dollar rose earlier after a government report showed the nation’s economy was accelerating.
The Australian and New Zealand currencies “have been undermined on the day by the weakness in regional equity markets,” said Sean Callow, a senior currency strategist at Westpac Banking Corp. in Sydney. “It looks as though Asia was more disappointed than the U.S. equity market that the Fed didn’t take stronger action. It’s certainly spilling over to both Aussie and kiwi.”
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