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Monthly Archives: October 2012

Circle Jerk Trade, U.S. Equities Open and Trade on Low Volume in Sandy’s Aftermath

U.S. equities opened higher to find itself in the red by lunch time. By the close the markets made a comeback to go green and essentially close flat on the day.

Trading took place on a wait and see basis as to whether technological connectivity would allow for normal trade.

The DOW closed down 10 @ 13,097

S&P up .23 @ 1,412

NASDAQ down 10 @ 2,977

WTI up $0.49 @ $86.18

Gold up $13 @ $1,721.7

Market update

The Story

Just for fun i thought a positive song for America was in classic fashion given our “disaster.”

[youtube://http://www.youtube.com/watch?v=w8i500NGJsw 450 300]

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U.S. Markets Still Troubled by Power Shortages

While U.S. markets tried to get back to some form of normalcy, we experience some shut downs during the day largely related to Knight Capital as they lost power from back up generators. Blackouts in their area contributed to the problems.

Full article 


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Fed Survey Shows an Uptick for Demand in Auto and Mortgage Loans


“Banks in the U.S. reported stronger demand for auto loans and commercial and residential mortgages during the third quarter, according to a Federal Reserve survey.

The central bank described the share of banks reporting increased demand as “significant.” Demand for most other loan types was “about unchanged,” the Fed said today in Washington in its quarterly survey of senior loan officers.

The report provides further evidence that sales of cars and homes, bolstered by record-lowinterest rates from the central bank, are helping to fuel the U.S. economic recovery. The gains are helping to shield the world’s largest economy from a decline in exports and cooling business investment.”

Full article

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BlackBerry 10 ahead of schedule

RIM CEO Thorsten Heins has just sent a statement to CNET that suggests the release of BlackBerry 10 may be ahead of schedule. Heins says more than fifty carriers are now testing BlackBerry 10 devices.

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$FB Lock Up Sends Shares Down 4%, Two More Lock Ups Due by Year End

$FB shareholders seem to be hitting the bid or perhaps some pro shenanigans are taking place with stop loss orders on the exchange. At any rate, the stock is down 2.5% after being down as much as 4%. Two more lock ups are due on November 14th, and December 14th….

Full article

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Sandy Unlocks a Halloween Mystery

“Hurricane Sandy brought more than property destruction and power outages in Connecticut.

Head over to the New Haven Indepdent for the full story but the gist of it is Katie Carbo, a homeless woman in New Haven, found an upside-down skull buried in the roots of a tree ripped out of the ground by the mega storm.

Its mouth was open and it was still connected to a spine and rib cage.”

Read more

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Overnight Funding Costs Recede as Markets Open After Frankenstorm Sandy

“NEW YORK (Reuters) – Wall Street firms and U.S. banks scrambled to raise cash on Wednesday, as U.S. financial markets resumed normal trading after a devastating storm pummeled the U.S. East Coast and closed major markets for two days.

Major banks and investment houses rely on the money markets – a key cash source for financial markets – to finance trading positions and loans that they make. Companies sell commercial paper and other short-term loans to money market funds and other investors fund their inventories and payrolls.

The massive storm, Sandy, disrupted these markets, thinned trading and drove up borrowing costs on Monday and Tuesday.

But overnight borrowing costs in funding markets have since receded from those levels, which were last seen during the height of the global credit crunch in late 2008.”

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Ally Pays Back $2.9 Billion in FDIC-Backed Debt

“(Reuters) – Ally Financial Inc, the U.S. auto lender 74 percent owned by the U.S. government, on Wednesday said it has repaid $2.9 billion in debt issued under a financial-crisis-era program designed to bolster confidence in the banking system.

The former auto lending arm of General Motors Co paid back $2.9 billion in debt guaranteed by theFederal Deposit Insurance Corp’s Temporary Liquidity Guarantee Program.

The debt, issued on Oct 30, 2009, came due on Tuesday. The lender plans to repay the remaining $4.5 billion in debt it issued under the program in December.

Other financial institutions such as Bank of America Corp have been repaying debt issued under the program.”

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Following the Money

[youtube://http://www.youtube.com/watch?v=xFXgnYlkqH0 450 300]

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$IBM Announces a Breakthrough in Nano Chip Technology


“The I.B.M. scientists at the T.J. Watson Research Center in Yorktown Heights, N.Y., have been able to pattern an array of carbon nanotubes on the surface of a silicon wafer and use them to build hybrid chips with more than 10,000 working transistors.

Against all expectations, silicon-based chips have continued to improve in speed and capacity for the last five decades. In recent years, however, there has been growing uncertainty about whether the technology would continue to improve.

A failure to increase performance would inevitably stall a growing array of industries that have fed off the falling cost of computer chips.”

Full article

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Employment Cost Index Drops 0.4%

” Inflation in wages is not really present right now. A report for the third quarter showed that the Employment Cost Index slipped to +0.4% from +0.5% in the second quarter. Bloomberg was calling for a reading of +0.5% today, but that appears to be rounded up as the range was 0.4% to 0.5% for the third quarter. Dow Jones also had a consensus of 0.5% for the third quarter.”

Full report

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$MA Beats on the Bottom Line, Light on Top Line

” MasterCard Inc. (NYSE: MA) reported third quarter 2012 results before markets opened this morning. The credit card issuer posted adjusted earnings of $6.17 per share on revenues of $1.9 billion. In the same period a year ago, the company reported earnings of $5.63 per share on revenues of $1.82 billion. Third-quarter results compare to the Thomson Reuters consensus estimates for EPS of $5.92 and $1.94 billion in revenues.”

Full report

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