in a hearing today Geithner also proposed and new covered bond bill for mortgages…
Comments »Closing Prices on Commodities
NYMEX Energy Closing Prices
Crude oil settled lower by $4.01 to $97.18, natural gas gained 2.9 cents to close at $3.943, heating oil dropped 11 cents to end at $2.9538 while RBOB gasoline shed 15.53 cents to finish at $2.805 (all April contracts)
CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices; corn and soybeans decline the exchange limit, sugar falls 7.7%
May corn finished down 30 cents (or 4.5%) to $6.36, May wheat fell 54.25 (or 7.5%) cents to close at $6.665, May soybeans lost 70 cents (or 5.2%) to close at $12.70, April ethanol closed higher by 0.122 cents at $2.34, while May world sugar futures closed down 2.14 cents (or 7.7%) to 25.65 cents.
COMEX Metals Closing Prices
April gold ended lower by $32.00 to $1392.90, May silver shed $1.66 cents to close at $34.18, while May copper finished down 4.75 cents to $4.139
Comments »Obama to visit Brazil and Renew a Battered Relationship
Geithner, Commerce Secretary Gary Locke, Energy Secretary Steven Chu, and U.S. Trade Representative Ronald Kirk all expected to attend with the president.
Comments »Fed Keeps Rates Unchanged and Will Continue QE2
Fed Meeting Prelude
Europe Closes Firmly in the Red With Germany Showing Worst Performance
eBay Announces Free Listing of Up To 50 Items
American Express Reports Write Off Rate of 3.8%
American Express reports Feb U.S. card metrics (43.29 -0.61)
Co reports Feb U.S. Managed Net write-off rate of 3.8% vs 3.8% in Jan. Co reports Feb loans 30 days past due was 2.0% vs 2.1% in Jan
Comments »Quick Headlines In Tech, Media, and Business
MSFT Internet Explorer 9,
MSFT kills the ZUNE
iPad 2 ships in 4-5 weeks
Google Refreshes Street View Application
More consumers getting news from IBC and or online outlets
Comments »Despite Speculation Mexico and The U.S. Strengthen Their Bond
The Drug war seems to have brought the two countries closer.
Full Press conference remarks form March 3rd
Comments »U.S. Bond Purchases Fall for a Third Consecutive Month
China has continued to reduce its purchase of U.S. treasuries. With Japan under such distress how will future auctions go ?
Comments »Worries Develop Over Radiation Entering the Food chain
Keep an eye on the radiation levels and which way the winds blow; at risk are cow’s milk, fish, and live stock in general…
Comments »Confidence in U.S. Government Just Hit Jimmy Carter Days
Sectors Outperforming The S&P This Morning
Sectors outperforming the S&P as the indices extend the morning rebound include: Silver SLV, Steel SLX, Materials XLB, Ag/Chem MOO, Networking IGN, Housing XHB, Retail XRT, Casino BJK
Minor new rebound highs for Dow -220 and S&P -25 — Nasdaq Comp -59 has not yet confirmed the new high -Update
initial intraday resistance noted earlier for the S&P is in the 1271/1275 area.
Comments »Is Deflation Stronger Than Most Think ?
Oil is getting hammered like the rest of the market. The dollar is being bot, but there is no real significant spike. Also oil seems to be ignoring what is transpiring in the Gulf….
Comments »Economists Are Not Aligned on the Feds Next move
General consensus was to see a exit strategy moving towards June. Now in light of Japan the second largest purchaser of treasuries economists are divided on the Feds next move….
Comments »What Stocks Are In Play This Morning ?
Home Builder Sentiment: Prior 16 / Market Expects 16 / Actual 17
Bahrain Announces State of Emergency As More Foreign Troops Enter the Country
The King has ordered military to protect citizens and the country as soldiers have been shot with reports of other deaths. Apparently reports of violent opposition has taken place upon peaceful protests. Some are calling this an act of war…
Comments »Panic Selling Rules Opening Trade, But The S&P 500 Finds Temporary Support at the 100 Day MA
People are raising cash and the put call ratio is showing serious concern for risk protection….
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