STOCK MARKET WATCH, Thursday, April 21, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Thursday, April 21, 2011

AT THE CLOSING BELL ON April 20, 2011

Dow 12,453.54 +186.79 (+1.50%)
Nasdaq 2,802.51 +57.54 (+2.05%)
S&P 500 1,330.36 +17.74 (+1.33%)
10-Yr Bond... 3.42 +0.01 (+0.26%)
30-Year Bond 4.46 -0.01 (-0.13%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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Handy Links - Market Data and News:Economic Calendar    Marketwatch Data    Bloomberg Economic News    Yahoo! Finance    Google Finance    Bank Tracker    
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Handy Links - Economic Blogs:
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Handy Links - Government Issues:
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Handy Links - Videos:
The Coming Collapse of the Middle Class    Charlie Rose talks with Roubini    Charlie Rose talks with Krugman
    William Black: This Economic Disaster    Bill Moyers with Kevin Drum and David Corn

Bush Administration Officials Convicted = 2
Names: David Safavian, James Fondren
Dishonorable Mention: former House majority leader, Tom DeLay

Bush Administration Officials Charged = 1
Name(s): Richard Lopez Razo

Financial Sector Officials Convicted since 1/20/09 = 11

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

Read more: du

[Pale Blue Dot]

1. Today's Reports

Apr 21 08:30 Initial Claims 04/16 370K 390K 412K
Apr 21 08:30 Continuing Claims 04/09 3650K 3650K 3680K
Apr 21 10:00 Philadelphia Fed Apr 30 33.0 43.4
Apr 21 10:00 Leading Indicators Mar 0.2% 0.2% 0.8%
Apr 21 10:00 FHFA Housing Price Index Feb NA NA -0.3%

Read more: http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm#ixzz1K9b1PrLg

[DemReadingDU]

55. Initial jobless claims hold above 400,000

4/21/11 Initial jobless claims hold above 400,000
The number of Americans filing new claims for unemployment benefits fell last week but held above the key 400,000 level, hinting at some loss of momentum in the labor market recovery.

Initial claims for state unemployment benefits fell 13,000 to a seasonally adjusted 403,000, the Labor Department said on Thursday, unwinding some of the prior week's quarter-end jump.

Economists polled by Reuters had forecast claims slipping to 392,000. The prior week's figure was revised up to 416,000 from the previously reported 412,000.

The four-week moving average of unemployment claims, a better measure of underlying trends, rose 2,250 to 399,000.

"It gives the impression that the momentum of labor market improvement is a bit disappointing at this point," said Sean Incremona, an economist at 4Cast in New York.

more...
http://finance.yahoo.com/news/Initial-jobless-claims-hold-rb-3253365849.html?x=0&sec=topStories&pos=main&asset=&ccode=

[maddogesq]

63. Mr. Boner, where are the jobs?

The more they spew about deficits, the more I will spew that question.

Nuff said.

[Fuddnik]

69. Didn't you hear?

Some clown named Ronald hired the same 50,000 people this week, that they hire every year at this time. They just made it sound like they were additional McJobs!

[maddogesq]

82. The plutocracy's version of recycling. :) NT

.

[Pale Blue Dot]

2. Oil above $112 on signs of strong US crude demand

SINGAPORE – Oil prices jumped above $112 a barrel Thursday in Asia to near the highest level since 2008 amid signs U.S. demand remains robust despite rising fuel costs.

Benchmark crude for June delivery was up 57 cents at $112.02 a barrel at midafternoon Singapore time in electronic trading on the New York Mercantile Exchange.

In London, Brent crude for June delivery was up 71 cents to $124.56 a barrel on the ICE Futures exchange.

Benchmark oil surged $3.17 to settle at $111.45 on Wednesday as falling U.S. crude and products supplies suggested a two-month rally hasn't deterred consumer spending.

http://news.yahoo.com/s/ap/oil_prices

[hamerfan]

27. Kansas raises some speed limits to75mph

http://www.kake.com/home/headlines/Bill_Raising_Speed_Limit_To_75_MPH_Signed_120296994.html

Gotta love the way those repuke minds work. :banghead:

[Loge23]

31. Gas prices - where are they heading?

I am trying to get a grip on where gas prices are heading as I wrap up a five year plan for my job.
Does anyone have any idea, as objective as possible, as to where we're heading?
It seemed to be the pattern in the past where prices would dramatically rise, then fall, then gradually creep back up - settling a mid-range of the two extremes over the long-run.
Is $4 a foregone conclusion at this point for the summer? Is $5 on the one-year horizon?

I'll hang up now and listen. Thanks!

[Po_d Mainiac]

66. IMHO, as long as the bernank keeps his hand on the print button

Food and fuel will continue to move up.

The DX will front-run in the opposite direction. I expect the slide will continue at least as long as ZIRP prevail.
YMMV

[xchrom]

71. Brent tops $124 on weak dollar

http://www.reuters.com/article/2011/04/21/us-markets-oil-idUSTRE72D01W20110421

Reuters) - Brent crude oil rose above $124 a barrel on Thursday on a sharply weaker dollar and as a draw in U.S. crude and fuel stocks pointed to tighter supplies in the world's top oil user.

The dollar slid to a three-year low against a basket of currencies, making dollar-denominated crude less expensive for buyers using other currencies and prompting financial investors to shift funds into commodities.

ICE Brent crude futures for June rose 15 cents to $124 a barrel by 1214 GMT. The U.S. oil benchmark was up 43 cents at $111.88 a barrel.

Reuters data showed the correlation between a weakening dollar and rising oil prices is the strongest this year.

[Pale Blue Dot]

3. GE quarterly profit rises sharply; dividend raised

LONDON (MarketWatch) -- General Electric Co. GE +0.64% said Thursday its first-quarter net profit rose to $3.43 billion from $1.95 billion in the same period a year ago. The industrial conglomerate earned 31 cents a share, up from 17 cents a share. Operating earnings were $3.6 billion, or 33 cents per share. Revenues rose 6% to $38.4 billion. Analysts had expected GE earnings of 28 cents. GE raised its quarterly dividend by 1 cent to 15 cents effective in the third quarter of 2011. "GE has emerged from the recession a stronger, more competitive company," GE Chief Executive Jeff Immelt said in a statement. "GE Healthcare, Transportation and Aviation delivered strong results. Strategic investments in high-growth segments have strengthened the company's energy portfolio and position that business to return to growth in the second half of this year."

http://www.marketwatch.com/story/ge-quarterly-profit-rises-sharply-dividend-raised-2011-04-21?link=MW_latest_news

Imagine all of the jobs GE will be able to create now! Thank goodness we don't make them pay taxes!

[Fuddnik]

21. Good news for the barge-building industry!

[Pale Blue Dot]

4. Stocks Extend Gains After Apple Earnings; Gold Reaches Record on Inflation

Stocks and commodities rallied for a third day and the euro strengthened to a 16-month high against the dollar as better-than-estimated earnings boosted confidence in the global economy. U.S. futures indicated the Dow Jones Industrial Average will extend a two-year high.

The MSCI World (MXWO) Index climbed 0.6 percent at 6:40 a.m. in New York. Futures on the Dow average rose 0.6 percent as Apple Inc. (AAPL) jumped 4 percent. Gold advanced to a record for a fifth day and silver extended gains to a 31-year high. The Dollar Index tumbled as much as 0.8 percent to the lowest since August 2008, while the euro appreciated 0.7 percent versus the U.S. currency. Insurance on Greek bonds rose to an all-time high, with debt swaps signaling 67 percent chance of default within five years.

Equities extended this year’s biggest global rally after Apple, the maker of the iPhone, said yesterday second-quarter profit almost doubled. Of the 76 companies in the Standard & Poor’s 500 Index that posted earnings since April 11, 75 percent have beaten analyst estimates for per-share profit, according to data compiled by Bloomberg. Morgan Stanley (MS), General Electric Co. and McDonald’s Corp. are among 45 companies scheduled to report results today.

“Earnings are good and give investors confidence,” said Markus Steinbeis, head of equity portfolio management at the Unterfoehring, Germany-based unit of Pioneer Investments KGmbH, which oversees about $221 billion globally.

http://www.bloomberg.com/news/2011-04-21/asia-stocks-rise-on-apple-earnings-aussie-gold-reach-recordson-inflation.html

The GE news will probably increase the party atmosphere.

[Pale Blue Dot]

5. Banks Kept Waiting for Terms of U.S. Foreclosure Accord as States Divided

Attorneys general negotiating the settlement of a nationwide foreclosure investigation have yet to approach banks with a proposed dollar amount that would fund principal reductions for borrowers, a state official said.

The states have agreed on some terms while failing so far to reach an accord on monetary payments by lenders, a person familiar with the talks said last week. Eight Republican attorneys general have publicly challenged the concept of principal reductions as part of a 50-state settlement.

Last month, state officials and federal agencies, including the Justice Department, submitted settlement terms to five mortgage servicers, including Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM) They called for a “substantial portion” of an unspecified monetary amount to go toward a loan modification program.

Virginia Attorney General Kenneth Cuccinelli and six other Republican attorneys general assailed the proposal as overreaching, with four calling principal reduction a “moral hazard.”

http://www.bloomberg.com/news/2011-04-20/banks-await-foreclosure-deal-s-financial-terms-as-states-split.html

"Moral hazard", used in this context, is hilarious and depressing.

[hamerfan]

25. I don't think

those attorney generals would know a "moral hazard" if one bit them on the bottom.
(Stolen shamelessly from John Houseman).
http://en.wikipedia.org/wiki/John_Houseman

[xchrom]

6. Recommend

[xchrom]

7. Lessons from the Credit-Anstalt Collapse

http://www.businessweek.com/magazine/content/11_18/b4226012481756.htm

In May 1931, a Viennese bank named Credit-Anstalt failed. Founded by the famous Rothschild banking family in 1855, Credit-Anstalt was one of the most important financial institutions of the Austro-Hungarian Empire, and its failure came as a shock because it was considered impregnable. The bank not only made loans; it acquired ownership stakes in all kinds of companies throughout the sprawling empire, from sugar producers to the new automobile makers. Its headquarters city, Vienna, was a place of wealth and splendor, famous for its opera, balls, chocolate, psychoanalysis, and the extravagant architecture of the Ringstrasse. The fall of Credit-Anstalt—and the dominoes it helped topple across Continental Europe and the confidence it shredded as far away as the U.S.—wasn't just the failure of a bank: It was a failure of civilization.

Once again, Europe's banking system, and by extension its social fabric, is threatened by bad loans. What had been slow-moving fiscal disasters in Greece, Ireland, and Portugal have gathered speed in recent weeks despite rescue packages designed to calm markets and prevent spreading the contagion to Spain, Belgium, and beyond. Portugal's 10-year borrowing costs hit a record 9.3 percent on Apr. 20, up from 7.4 percent just a month before, even as authorities met in Lisbon on an €80 billion ($116 billion) financing package. The higher that creditors drive up interest rates, the more unaffordable the debt becomes—creating the conditions for the very failure they fear. "All of the rescue packages don't really ensure that we can escape this adverse feedback loop that these countries are being trapped in," Christoph Rieger, head of fixed-income strategy at Frankfurt-based Commerzbank (CRZBY), told Bloomberg Television on Apr. 19.

[xchrom]

8. U.K. Retail Sales Unexpectedly Increased in March on Food

http://www.businessweek.com/news/2011-04-21/u-k-retail-sales-unexpectedly-increased-in-march-on-food.html

(Updates with food sales in sixth paragraph, Barclays Capital forecast in 12th.)

April 21 (Bloomberg) -- U.K. retail sales unexpectedly rose in March as the biggest jump in spending on food in 10 months outweighed a decline at other shops.

Sales climbed 0.2 percent from February, when they dropped 0.9 percent, the Office for National Statistics said today in London. The median forecast of 20 economists in a Bloomberg News survey was for a 0.5 percent decline. From a year earlier, sales increased by 1.3 percent.

The report suggests a surge in commodity prices and inflation that’s double the central bank’s 2 percent target has yet to dent shoppers’ spending at a time when they face a government budget squeeze. The Bank of England kept its benchmark interest rate at a record low of 0.5 percent this month and minutes of the meeting show officials saw risks that an increase to tame price gains could hurt confidence.

“The figures show pretty slow unexciting growth, but growth nonetheless,” said Philip Rush, an economist at Nomura International Plc in London. “It’s relatively encouraging for the Bank of England, and they’ll take some comfort from signs the consumer is returning to more stable though muted growth.”

[burf]

23. Can someone explain this to me?

Sales were up 0.2%. Does that mean the increase is based on the amount of food purchased or the cost of food bought? Did the average consumer buy 12 cans of beans last month instead of 10 cans he bought the month before? Or, did the shopper pay 99 cents for said can of beans that cost 89 cents in a previous shopping trip?

Most folks around these parts know I am not the sharpest knife in the drawer, but this article tells me nothing. Unless it is the usual tripe of the corporate media, in which case it all makes sense!

Good day to everyone.

[Po_d Mainiac]

26. The #'s are in $'s, not quantity. n/t

[burf]

42. Thank you for the reply.

So, the increase in raw commodity prices is not being reflected in the cost of the finished product at the grocery store.

[Zenlitened]

61. That was my reaction to the article, too. It makes it sound like everything is A-OK...

... and people are living the high life as they spend spend spend.

Oh, they're spending more alright. But their bellies aren't any fuller. :grr:

[xchrom]

9. DuPont Net Tops Analysts’ Estimates; 2011 Forecast Raised

http://www.businessweek.com/news/2011-04-21/dupont-net-tops-analysts-estimates-2011-forecast-raised.html

(Updates with analyst comment in fourth paragraph.)

April 21 (Bloomberg) -- DuPont Co., the third-biggest U.S. chemical maker, raised its 2011 earnings forecast and posted first-quarter profit that beat analysts’ estimates as sales of titanium-dioxide pigment and genetically modified seeds gained.

Net income climbed 27 percent to $1.43 billion, or $1.52 a share, from $1.13 billion, or $1.24, a year earlier, Wilmington, Delaware-based DuPont said today in a statement. That topped the $1.37 average estimate of 12 analysts in a Bloomberg survey. Net sales advanced 18 percent to $10 billion from $8.48 billion.

DuPont has exceeded estimates in each of the nine quarters Chief Executive Officer Ellen Kullman has been in charge, even as expiring drug patents cut pharmaceutical royalties. Profit climbed 21 percent in the agriculture unit, the largest business, on seed sales, and performance chemicals profit more than doubled on pigment and refrigerants.

“Sales and earnings were all better than expected across the board and the biggest one was performance chemicals,” Mark Gulley, a New York-based analyst at Soleil Securities who recommends buying DuPont shares, said in a telephone interview. “It looks like a fairly big beat and raise.”

[Pale Blue Dot]

10. 20 Signs That A Horrific Global Food Crisis Is Coming

#1 According to the World Bank, 44 million people around the globe have been pushed into extreme poverty since last June because of rising food prices.

#2 The world is losing topsoil at an astounding rate. In fact, according to Lester Brown, "one third of the world's cropland is losing topsoil faster than new soil is forming through natural processes".

#3 Due to U.S. ethanol subsidies, almost a third of all corn grown in the United States is now used for fuel. This is putting a lot of stress on the price of corn.

#4 Due to a lack of water, some countries in the Middle East find themselves forced to almost totally rely on other nations for basic food staples. For example, it is being projected that there will be no more wheat production in Saudi Arabia by the year 2012.

#5 Water tables all over the globe are being depleted at an alarming rate due to "overpumping". According to the World Bank, there are 130 million people in China and 175 million people in India that are being fed with grain with water that is being pumped out of aquifers faster than it can be replaced. So what happens once all of that water is gone?

http://theeconomiccollapseblog.com/archives/20-signs-that-a-horrific-global-food-crisis-is-coming

[DemReadingDU]

24. #9 The price of oil may be the biggest factor on this list.

#9 The price of oil may be the biggest factor on this list. The way that we produce our food is very heavily dependent on oil. The way that we transport our food is very heavily dependent on oil. When you have skyrocketing oil prices, our entire food production system becomes much more expensive. If the price of oil continues to stay high, we are going to see much higher food prices and some forms of food production will no longer make economic sense at all.


Most Americans are so accustomed to supermarkets that are absolutely packed to the gills with massive amounts of really inexpensive food that they cannot even imagine that life could be any other way. Unfortunately, that era is ending.

http://theeconomiccollapseblog.com/archives/20-signs-that-a-horrific-global-food-crisis-is-coming

[AnneD]

59. Morning Marketeers.....

:donut: and lurkers. I had some requests for this info earlier and was very busy at the time. I think this is as good a time and place to do my list of favorite suppliers. Commodities are a hot item and I personally recommend this as an investment you can really use.

Dehydrated foods. They store well and with practice and use they make an excellent way have a basic pantry. Once you do, you can take advantage of real buys in the market and ride out scarcities. I am a firm believer in maintaining a years supply of food. I know the Mormons are big on it so most of the suppliers are in Utah. I grew up in hurricane prone areas and the rest of the family dealt with tornadoes. You just never know and it makes sense to be prepared.

Food
www.efoodsdirect.com nice variety of plans and the prepared food is great
www.nitro-pak.com ok for bulk items
www.waltonfeed.com dried foods and supply resource. My first supplier
www.harmonyhousefoods.com Haven't tried them yet but next on my list. They are having a sale so that is good.

Dehydrator to preserve than harvest
www.excaliburdehydrator.com. I bought one and it was so great I never wanted any other. This is the Cadillac of dehydrators.

Solar oven
www.solarovens.org I took Tansy at her word and have one on order. She loves hers. They are a good group that really changes lives. Read about them and donate after you buy.

Off the grid supplier.
www.lehman.com One day I will make a pilgrimage to that store. They have been supplying Amish and Mennonite farm families for years. They have stuff I can only imaging using. If they don't have it, it probably doesn't exist.

Gardening

I am experimenting with vertical gardening this year with very good results. I am starting out with those topsy turvy hangers. The one for strawberries have multiple ports and I now have a strawberry garden and a herb garden. There are some suppliers of stackable drip containers. For urban dwellers this is a wonderful way to garden. I love square foot gardening for a small space too.

My landlord is busting my chops about my garden now. I am soo pissed. I pay rent. I know we have rules and I do follow them but why in the hell can't I have a 2'x5'x5' high space for cultivation. I do this on the concrete slab that our rv sits on. It is kept neat and clean and does produce which I am always happy to share. We are so looking for land.

Anyway book mark these sources. As far as gas, it will only go up and you shouldn't rely on fall backs in prices.

Happy hunting and watch out for the bears.

[xchrom]

64. +1

[Fuddnik]

68. My garden is really taking off now.

I fertilized again a couple of days ago, and I swear a cantaloupe doubled in size in 36 hours. I have a couple of cheap dehydrators that have always worked fine in the past. I'll make good use out of them this year. And BTW, the dehydrated meal kits that Costco had on sale a couple of weeks ago were now on a two week back order. Mine just shipped yesterday.

Here's the garden.


Tomatoes (Early Girl, Roma, Better Boy), onions, radishes beans, peas, cabbage, eggplant, zuchinni, watermelon, cantaloupe, and lots of peppers!


Another angle


Jalapeno's already as long as your hand!


A nudder angle


Boll Weevils


A place to cool off after the gardening.

[AnneD]

72. I have the same type of boll weevils

just a different variety and smaller. :spray:

edited to add....consider an excaliber dehydrator, esp with a large garden. Does a wonderful job. I love to make jerky in it. Perfect every time. It was one of my better investments. Easy to clean operate etc. The adjustable temp, thermostat, and timer are the best.

[Viva_La_Revolution]

73. I hate you now

It's been so wet and cold here, the only things sprouting are the peas.. and I just got my first tomatoes seeded last week. Still having night temps below 40 :(

[Demeter]

78. Try below Freezing

The theoretical last frost is May 15th. At this rate, June is looking more likely.

[DemReadingDU]

87. Great garden!

I can't plant for couple weeks, never know about frost in this area.

[hamerfan]

74. Bad link.

Hi AnneD,
Could you provide the correct link or name of the store? I really don't care about Lehman Bros., but store sounds cool.
Thanks!
"Off the grid supplier.
www.lehman.com
One day I will make a pilgrimage to that store. They have been supplying Amish and Mennonite farm families for years. They have stuff I can only imaging using. If they don't have it, it probably doesn't exist."

hamerhan

[AnneD]

76. sorry...

www.lehmans.com I think some brothers founded the store. Definantly work a looksie. OOHHH, they have a sale too.

[hamerfan]

77. Tanx!

I will check it out very soon. Thanks again!

[DemReadingDU]

88. Thanks for the links

I bought one of those excalibur dehydrators a few months ago, not yet tried it out though.

Have thought about solar oven, but wasn't sure which brand. I will look into the one at your link.

Next I need to get some freeze-dried foods. Appreciate the links!

My sisters and I went to Lehmans store in Ohio (north of Columbus). That store is huge! None of us bought much, but we enjoyed our bonding time together!

[AnneD]

89. When I go out there ...

I will give you a buzz. Maybe we can meet up. I don't know if I have every been to Ohio. Been to Deleware though :evilgrin:

[xchrom]

11. Stocks, U.S. Futures, Commodities Rise on Earnings; Euro Gains

http://www.businessweek.com/news/2011-04-21/stocks-u-s-futures-commodities-rise-on-earnings-euro-gains.html

April 21 (Bloomberg) -- Stocks and commodities rallied for a third day and the euro strengthened to a 16-month high against the dollar as better-than-estimated earnings boosted confidence in the global economy. U.S. futures indicated the Dow Jones Industrial Average will extend a two-year high.

The MSCI World Index climbed 0.6 percent at 6:40 a.m. in New York. Futures on the Dow average rose 0.6 percent as Apple Inc. jumped 4 percent. Gold advanced to a record for a fifth day and silver extended gains to a 31-year high. The Dollar Index tumbled as much as 0.8 percent to the lowest since August 2008, while the euro appreciated 0.7 percent versus the U.S. currency. Insurance on Greek bonds rose to an all-time high, with debt swaps signaling 67 percent chance of default within five years.

Equities extended this year’s biggest global rally after Apple, the maker of the iPhone, said yesterday second-quarter profit almost doubled. Of the 76 companies in the Standard & Poor’s 500 Index that posted earnings since April 11, 75 percent have beaten analyst estimates for per-share profit, according to data compiled by Bloomberg. Morgan Stanley, General Electric Co. and McDonald’s Corp. are among 45 companies scheduled to report results today.

[xchrom]

51. Monsoon forecast brings cheer to India

http://www.marketwatch.com/story/monsoon-forecast-brings-cheer-to-india-2011-04-20

MUMBAI (MarketWatch) — Deficits, inflation, monetary policy and corporate profits might be grabbing all the headlines nowadays but in India, the monsoon remains the mother of all economic indicators — as it has been for thousands of years.

On Wednesday, stocks on the Bombay Stock Exchange received a lift after India’s weather authorities forecast a “normal” monsoon for this year.

The Sensex /quotes/comstock/29m!sensex XX:SENSEX +0.67% rallied 1.8%, while the S&P/CNX Nifty /quotes/comstock/29m!nifty XX:NIFTY +0.57% gained 1.9%.

Inflation, including food inflation, has been a big concern for investors over the past few years. A monsoon that delivers timely and normal rainfalls in key agricultural regions could boost Indian production and go some way toward curbing prices.

[xchrom]

12. Hiring, wage hike indicate positive demand scenario: TCS

http://www.moneycontrol.com/news/resultscompany-press-conference/hiring-wage-hike-indicate-positive-demand-scenario-tcs_537627.html

Technology major TCS delivered results in line with estimates. Fourth quarter profits rose 3% quarter on quarter, while revenues shot up 5% to just over Rs 10,150 crore. Operating margins were the only blip coming in marginally lower in the fourth quarter.

The management is optimistic on the road ahead for the company. TCS is planning to give 12-14% wage hike in India and 2-3% in the US. The management says that the hiring and wage hike indicate positive demand scenario. “We are preparing ourselves to respond to demand environment,” the company says.




please note:this is india not the u.s.

[xchrom]

13. more india: Banking stocks may lead to breakout in Nifty: JM Financial

http://www.moneycontrol.com/news/market-outlook/banking-stocks-may-lead-to-breakoutnifty-jm-financial_537488.html

n an interview with CNBC-TV18, Gautam Shah of JM Financial gave his readings and outlook for the market.

He said that 5,600 has become a very strong base for Nifty. There is a good chance now that the market may pass that resistance zone of 5,900-5,950 which has a lot of technical significance. So, the volatile consolidation might end within next few days.

"When I look at some of the index heavyweights, particularly, the banking space, it gives me the confidence that the Nifty will eventually breakout. Bank Nifty has a pending target of about 12,500. If Bank Nifty were to move to those levels which is about 600 points away, Nifty will eventually take out a zone," he addded.

If Bank Nifty were to move to those levels which is about 600 points away, Nifty will eventually take out a zone.

Below is the verbatim transcript of his interview with Udayan Mukherjee and Mitali Mukherjee of CNBC-TV18. Also watch the accompanying video.

[xchrom]

14. Food inflation at 8.74% YoY as on April 9

http://www.moneycontrol.com/news/economy/food-inflation-at-874-yoy-asapril-9_537540.html

India's annual food inflation snapped a three-week easing trend on April 9, while fuel inflation also quickened, raising the odds for an aggressive rate hike by the Reserve Bank of India (RBI) next month.

The food price index in the year to April 9 rose 8.74% on higher prices of potatoes and fruits, while higher industrial fuel prices mirroring global crude prices pushed up fuel inflation to 13.05% in the same period.

This compared with an 8.28% rise in the food price index and a 12.97% rise in the fuel price index in the prior week.

"This (the price) increases the odds that the RBI will hike rates by 50 bps on May 3," said Dariusz Kowalczyk, a senior economist and strategist at Credit Agricole CIB in Hong Kong.

[xchrom]

19. China yearns for peace on southern flank

http://www.atimes.com/atimes/China/MD22Ad01.html

Beijing embarked on a well-received charm offensive at the BRICS summit at the city of Sanya on China's Hainan Island. Chinese President Hu Jintao and Indian Prime Minister Manmohan Singh met on April 13 in a sidebar of the gathering of leaders from Brazil, Russia, India, China and South Africa for a mini-reset of the oft-contentious relations between the two regional powers. <1>

China is obviously eager to repair some of the PR damage from the pummeling it took as the designated neighborhood bully on Diaoyutai Island, rare earths and South China Sea dust-ups.

But it also looks like the People's Republic of China (PRC) yearns for stability on its borders - and in the Tibetan Autonomous Region - as it nervously eyes the wave of popular protests


sweeping the Middle East. Particularly in Syria, there is distinct - though vociferously denied - evidence that Bashar al-Assad's external enemies, both exiles and foreigners - are taking advantage of the unrest and the regime's faltering and brutal response to stoke violence, spread disinformation, and put the boot in on a hated foe. <2>

[xchrom]

50. Apr Sinopec signs coals seam gas LNG deal with Origin Energy

http://peakenergy.blogspot.com/2011/04/sinopec-signs-coals-seam-gas-lng-deal.html

China's Sinopec has signed a binding agreement to buy 4.3 million tonnes of liquefied natural gas annually for 20 years from a project to be developed by Australia's Origin Energy and US oil company ConocoPhillips, Origin said today.

[xchrom]

52. Asia central banks intervene as currencies rally

http://www.marketwatch.com/story/asia-central-banks-intervene-as-currencies-rally-2011-04-21

SINGAPORE (MarketWatch) -- The dollar continued to sell off sharply in Asia Thursday, prompting central banks in South Korea and Malaysia to try to curb the surge in their currencies to long-term highs by intervening for the second day running.

South Korean authorities also said they will inspect foreign-exchange transactions at banks, focusing on activity in the overseas non-deliverable forward market. The move comes as heavy dollar selling by offshore players, largely via the NDF market, has pushed the Korean won to multi-month highs in recent weeks.

China fixed the yuan at another record high against the dollar, setting the tone for Asian trading where sentiment was also given a boost by upbeat U.S. economic data and a strong earnings-driven rally on Wall Street. Strategists said authorities are trying to smooth sudden market moves, but likely won't stand in the way of the broad appreciation trend in Asian currencies.

"Asian central banks and government officials have made it very clear that they're going to use currencies to fight inflation," said Stuart Oakley, head of emerging market trading at the Royal Bank of Scotland. "They're allowing their currencies to move faster than they have before, and China is leading the way on that."

[xchrom]

57. Global Carmakers Flock to Shanghai Auto Show

http://english.chosun.com/site/data/html_dir/2011/04/21/2011042100469.html

The 14th Auto Shanghai motor show kicked off for a week-long run with a media preview on Wednesday. With over 1,100 vehicles on display at the 230,000 sq.m venue, it is one of the largest motor shows in the world -- befitting China's status as the world's biggest auto market.

Seventy-five models are making their international debuts, including new lineups from Chinese automakers and 19 from global brands. Some 86 eco-friendly models are showing off innovative green technologies. CEOs from global major automakers have flocked to the show, highlighting its significance in the global auto market.

Monthly sales in March in China increased by 5.4 percent on-year to 1.83 million units, compared to 1.24 million in the U.S. and 280,000 in Japan during the same period. Annual sales in China are expected to reach the 20 million-mark this year.

[xchrom]

60. Korea Maintains Position as World's No. 5 Carmaker

http://english.chosun.com/site/data/html_dir/2011/02/16/2011021600598.html

Korea was the world's fifth largest car producer last year for a sixth year in a row.

According to data from the Korea Automobile Manufacturers Association on Tuesday, a record high 4.27 million vehicles were produced here in 2010, up 21.6 percent from the previous year. The figure accounts for some 5.5 percent of the world’s total production of 77.02 million vehicles last year.

[xchrom]

15. COLUMN - Triumph of gold, the anti-investment: James Saft

http://in.reuters.com/article/2011/04/21/idINIndia-56484420110421?type=economicNews

(James Saft is a Reuters columnist. The opinions expressed are his own)

By Jim Saft

HUNTSVILLE, Ala. (Reuters) - In investing, extreme behaviour is becoming more mainstream every day. How else can we interpret the extraordinary moves by the University of Texas' endowment fund to not only buy nearly $1 billion of gold, equal to about 5 percent of its assets, but to insist on taking physical delivery of the precious metal.

Things really have come to an interesting juncture when the second-largest academic endowment in the U.S., managed and advised by sober, rational people, decides that what they need is insurance against getting, in essence, robbed, via inflation, by fiscal and monetary policy.

Little wonder that gold futures went above $1,500 per ounce for the first time on Wednesday, driven by a laundry list of concerns starting with a falling dollar and not ending with the growing chance of "debt restructuring" (well, default, if you insist) by Greece.

[Po_d Mainiac]

28. interesting quote

The opposite of buying gold perhaps is to buy equities, because you are betting on creating products, jobs and wealth rather than just protecting yourself. On the other hand, a bar of gold has no executives that can loot the company or accountants that can aid in fraud. Really the world in which an investment in gold makes you rich is not a very appealing place.

[xchrom]

35. that jumped out at me as well. something to think about. nt

[Po_d Mainiac]

53. KYPD n/t

[Demeter]

30. Anti-Investment? An interesting concept

A sign of the times. It goes along with the

Anti-work

Anti-health care

Anti-home equity

Anti-taxes

Anti-regulations

and saving the best for last, anti-politics.


Now there's a paradigm that will keep one up nights....

[AnneD]

67. I am so sleeping better at night......

I feel better about buying back my time already. Frankly, I don't think it is an extreme position at all considering Calpers and those state retirement pensions that are underfunded or fall for Madoff type schemes. And those of us that are regulars here know what a crap shoot the market is. Putting a portion of our reserve seems prudent to me. But then, I have lived in Texas for most of my life.

[xchrom]

16. Doha talks deadlock puts a price on free trade

http://in.reuters.com/article/2011/04/21/idINIndia-56480320110421?type=economicNews

(Reuters) - Talks aimed at removing trade barriers worldwide are going nowhere after a decade, documents due out on Thursday will show, raising fears of protectionism and questions over whether the rules of the game should change.

Delegates and trade officials agree that the hundreds of pages of legal texts and backup documents that were meant to revive the ambitious but stalled Doha round of talks may well have the opposite effect -- showing how little has changed since the last attempt to strike a deal in 2008.

Global prosperity is at stake, the World Trade Organisation says. International trade traditionally grows about twice as fast as the world economy, and is one of its engines with $15 trillion of goods changing hands last year. Tariffs on imports, subsidies for exports, and quotas for both, restrict it.

Economists cite the depression of the 1920s and 1930s, when protectionism was rampant, and the long period of prosperity that followed early free trade moves in 1945, as evidence that free trade is indeed a force for good.

[xchrom]

17. Euro zone hit by Greek debt fears, aid backlash

http://in.reuters.com/article/2011/04/20/idINIndia-56472320110420?type=economicNews

(Reuters) - Spain attracted solid demand in a bond sale on Wednesday, easing concerns it could be swept up by euro zone contagion, but worries about Greek debt continued to haunt the bloc, slamming bank stocks in Athens.

A Reuters poll showed an overwhelming majority of economists believe Greece will eventually have to restructure its 325 billion euro ($468 billion) debt mountain, although most said it would not happen for at least a year.

In a reminder of the rising political hurdles to solving the euro zone's debt crisis, a member of German Chancellor Angela Merkel's party said he would try to block plans for a new financial safety net for the 17-nation currency area.

That threat came days after the anti-euro True Finns party scored strong gains in a Finnish election, stoking fears about a veto of Portugal's pending bailout.

[xchrom]

18. Could ending QE lower long-term rates?

http://in.reuters.com/article/2011/04/20/idINIndia-56456520110420?type=economicNews

(Reuters) - Even if to tighten monetary policy you must first stop loosening it, it's a beguiling notion that halting outright money printing might actually bring down borrowing costs.

As the world's major central banks -- Japan apart for now for obvious reasons -- attempt to normalise extraordinarily loose interest rate and credit policies in the face of a robust global recovery and rising inflation, soundings from the U.S. Federal Reserve are critical as always.

Although well-established on the hawkish branch of the Fed's policymaking tree, Dallas Fed chief Richard Fisher this week put forward an important twist on case for tightening -- or at least, as he would put it, to stop loosening.

"If that policy (the Fed's latest round of money printing) runs through June and we stop, I could envision a scenario where rates might actually come down," Fisher said on Monday.

[xchrom]

20. With friends like these

http://www.atimes.com/atimes/Global_Economy/MD22Dj08.html

Bernie Madoff reportedly spends his time in prison, where he has been assigned for the next 150 years, in fear of an imminent violent or sexual assault on his person. <1> That may seem like just desserts to many people who invested their savings with the man. Even so, news of his suffering doesn't bring a sense of justice to anyone - especially not given the thousands of investment bankers, mortgage lenders, rating agency officials and central bank employees who violated laws, threw ethics to the wind and basically forgot about their real responsibilities all through.

At the current rate of progress shown by the various enquiries and reports by independent commissions of Western governments, I half suspect that Madoff will be "released" from jail posthumously


before any indictments of bankers, rating agency chiefs, central bank supervisors and other assorted minor criminals are forthcoming, even 150 years from now, from the Republic of America (by then a wholly owned subsidiary of the People's Republic of China) or the European Union (formally occupied by the Republic of India).

[xchrom]

22. Renren seeks US listing

http://www.atimes.com/atimes/China_Business/MD22Cb01.html

Renren, known as the "Facebook of China", will be listed in the New York Stock Exchange next month, raising up to US$584 million.

The company was founded by serial entrepreneur and Chinese Internet celebrity Joe Chen. Its revenue increased 63% last year to $76.5 million. It still made a loss of $64 million, but this probably will not dampen investor interest. Last December, China's largest video-sharing site, Youku, went for IPO, although it is still in the red and not be profitable in a couple years. Its share price surged 161% on its first day of trading on New York Stock Exchange. It closed at $64.3 on April 20, up five times from its IPO price of $12.8

Renren's good fortune is that, just like Youku, it is also in a hot


sector. Investors hungry for the still-private Facebook are likely to pounce on this offering.

[Roland99]

29. Is There Any Hope for Shipping? (Baltic Dry Index drying up)

from The Daily Reckoning email:

"Many shall be restored that now are fallen and many shall fall that now are in honor." This quotation from the Roman poet Horace is spot on in describing the ebb and flow of markets. No wonder it appears as an introduction to Security Analysis, that investing classic by Ben Graham and David Dodd.

In short, the wheels of finance never stop turning and no asset stays on the top, or the bottom, of the heap forever. The latter is certainly a cheerful message for the beleaguered shipping industry.

Shipping has been a Waterloo for many an investor in recent years, but in the spirit of Horace, let's see if the fallen shall soon find honor.

It would be hard to find a group of stocks more battered than the lot of dry bulk shippers, which mainly haul iron ore, coal and grain. The stock of DryShips, an industry bellwether, is down 95% from its 2007 peak. This reflects the decimation in shipping rates.

The irony is that even though iron ore and coal are booming and food worries are front-page news, shipping rates are where they were during the pit of the financial crisis. The Baltic Dry Index is already down 40% this year!

The reason is simply that there are too many ships. In fact, new rates on so-called capesize vessels are below the costs to run the ships. Yet pathetically, new ships continue to hit the market. Last year was the biggest year of new ship deliveries in history. This year should see another slug of additions, expanding the world fleet by 15%!

Talk about a horrible industry... yet it won't always be this bad. It can't be. Unfortunately, as accurate as Horace's sentiment is, he says nothing about timing.

Still, the forces of capitalism, like microbial organisms that break down dead carcasses, are beginning to work on the shipping business. Owners of vessels are starting to scrap their ships. In some cases, the ships are worth more as scrap steel than as ships.

For instance, a typical owner of a capesize vessel can pay $25,000 a day to keep his ship running...or he can scrap it and collect $10 million. What would you do? Exactly. And that's what shipowners are doing in record numbers. In fact, they are scrapping ships at the highest rate in 28 years.

Some shippers are going out of business completely. South Korea's second largest operator of dry bulk ships finally called it quits after losing money in six of the last seven quarters.

So it's bad, which means ships are cheap.

A friend and reader works in a private equity firm. He told me he has begun to play in this space. "Typically, the value of ships falls $1 million for every $1,000 decline in the day rate, so boats are cyclically cheap right now," he says. "The play is to buy ships today, charter them out for three-five years through the soft market and flip them when it turns." The day rate, or spot rate, is what you can get for a ship today. Charter rates are negotiated longer-term contracts.

My friend's is a contrarian position and he knows it. "We're looking at buying some vessels with a group that did this successfully in the last cycle." They all know there may be more weakness to come but believe now is a good time to accumulate ships. They will not always be so cheap.

"The challenge is managing the mix of charter and spot contracts to get you through the downturn safely but with enough flexibility to capture the upside when things turn," our man on the spot continues. "The contracts can get you a decent yield, but the real return will come from flipping the ships when values recover." He adds the consensus sees little upside, but "there could be big money in taking the opposite view."

There often is.

The dry bulk trade isn't going away.

All those big emerging markets need iron ore, coal and grain. The main sea lanes are to China, which makes up a third of the dry bulk trade. Japan is the largest importer of coal. And grain moves from the US and Brazil to the markets of the Middle East and Asia. None of these trends look like they will end anytime soon.

The industry just has to work through its huge backlog of ships, which scrapping ships, bankruptcy and no new ships should do. It will take time yet, but it will definitely happen, as Horace well knew.

A ship bubble? interesting.

[xchrom]

33. flipping ships. who knew?

:shrug:

[Demeter]

32. Morgan Stanley profit drops nearly 50 percent

http://news.yahoo.com/s/nm/20110421/bs_nm/us_morganstanley

Morgan Stanley's first-quarter profit dropped nearly 50 percent, hurt by a decline in fixed income trading revenue.

The investment bank and brokerage posted net income for shareholders of $736 million, or 50 cents a share, down from $1.41 billion, or 99 cents a share, a year earlier.

Fixed income trading revenue fell across Wall Street after an unusually strong first quarter in 2010. But some banks have experienced more weakness than others. Morgan Stanley's revenue for its fixed income and commodities sales and trading unit fell by about a third.

At JPMorgan Chase & Co, revenue for fixed income, currencies, and commodities trading fell just 4 percent in the first quarter. Morgan Stanley's overall revenue fell 16 percent to $7.64 billion. Morgan Stanley shares were up 3.3 percent to $26.89 in premarket trade.

[Hotler]

38. Good! Fuck Morgan Stanley. That is all.

[xchrom]

40. indeed. nt

[AnneD]

75. Go Max Keiser...

JP Morgan gets caught with their pants down-guilty of naked short selling.

Hang on to your Fruit of the Loom stock folks.

[Demeter]

45. Bank Of America's Profits Down 37.5 Percent From One Year Ago

http://www.huffingtonpost.com/2011/04/15/bank-of-americas-profits-decline_n_849543.html

Bank of America Corp posted an unexpectedly sharp drop in first-quarter profit as higher expenses from delayed home foreclosures weighed on its mortgage business. The largest U.S. bank lost more than $2.39 billion in its home loan business as revenue fell and expenses rose. The foreclosure mess that began in the fourth quarter of 2010, with borrowers accusing major banks of repossessing homes without having the right paperwork in place, was a key source of higher costs in the quarter.

The bank also announced a new chief financial officer.

The first-quarter results give some inkling of why the Federal Reserve told the bank in March to rein in its plans to boost dividends, even as competitors were authorized to hike their payouts.

"Bank of America is further behind. And the reason they're further behind is because of what's going on with the mortgage business," said Ben Wallace, analyst at Grimes & Co, with $1 billion under management.

The bank said in March that it did not expect its mortgage business to return to normal earnings until 2014 or later, while most of its other businesses are seen recovering by 2013.

[xchrom]

34. Mohamed Al Fayed eyes bid for Harry Potter film studio

http://www.arabianbusiness.com/mohamed-al-fayed-eyes-bid-for-harry-potter-film-studio-395462.html

Billionaire businessman and former Harrods owner Mohamed Al Fayed is considering an all cash Pinewood Shepperton, the British film studio behind many of the James Bond movies.

Pinewood Shepperton said earlier this month that it had received a rival takeover approach after having initially been wooed by property investor Peel Holdings.

On Thursday, Al Fayed said he was considering making a cash bid for Pinewood Shepperton.

[xchrom]

36. Invest AD sees value bets in UAE despite rally

http://www.arabianbusiness.com/invest-ad-sees-value-bets-in-uae-despite-rally-395390.html

Abu Dhabi-owned Invest AD believes select banks and holding companies in the UAE are attractive buys despite the recent rally and the firm's Gulf fund does not shy away from taking off-market bets.

Dubai's flagship index DFM has gained 24.3 percent since touching a six-year low on March 3. Abu Dhabi ADI has gained over 7 percent during the same period.

"In the UAE, there are still a few companies which are quoting at significant discount to fair value. People have painted everything with the same brush," Sachin Mohindra, manager for Invest AD's GCC Focus Fund said in an interview.

Mohindra said he likes large-cap banking stocks such as First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD) because of their relatively cheaper valuation even though he expects lending growth to remain muted in the near-term.

[xchrom]

37. Murdoch's News Corp eyes F1 motor racing bid, says source

http://www.arabianbusiness.com/murdoch-s-news-corp-eyes-f1-motor-racing-bid-says-source-395232.html

Rupert Murdoch's News Corp is in the early stages of talks about forming a consortium to acquire control of Formula One motor racing, according to a person familiar with the matter.

News Corp has been in preliminary talks in recent weeks with people connected to at least one of F1's big car manufacturers, and with Mexican billionaire Carlos Slim, according to the person, who asked not to be identified as the talks are confidential.

The news was first reported by Sky News in the UK, which is owned by News Corp. JPMorgan is advising News Corp on the situation, according to Sky.

So far, News Corp had had no contact with F1's current owner, private equity firm CVC, regarding a bid, according to another person familiar with the matter.


my comment: rupert, gonna do for racing what he's done for 'news'.

[PJPhreak]

58. Yo Rupert,Wanna race?

Open Wheel? Sissy Racin!

It ain't Racin unless yer car looks like this at the end of the day...



Come on,Wanna Play? Ya Forking Sissy Bastage!!

[xchrom]

39. Has Manhattan tycoon Trump lost the plot?

http://www.arabianbusiness.com/has-manhattan-tycoon-trump-lost-plot--395366.html

Donald Trump, President of the United States of America. Scary thought, isn’t it? And if Trump’s campaign so far is anything to go by, I suspect we’re all in for a good laugh as well. In case you’ve missed it, Trump has been busy with another outburst lately, this time targeting the Arab world. He told CNN last week that Arab nations should hand over $5bn to the USA in return for bombing Libya — something he would have demanded as president.

“The Arab League is so wealthy, they have so much money, they have cash pouring out of their ears, and they tell us, and we’re a debtor nation, they tell us to go in and take out Gaddafi, because we don’t like him. Why aren’t they paying us? Why aren’t they paying us?” Trump said, adding: “When they said that, you should have said; ‘We’ll go in, but we want $5bn.’And you know what, that’s peanuts for them, they’d give you a cheque in about two seconds.”

Hmmm. We’ll ignore the fact it was actually the UN Security Council — of which the USA a permanent member — that decided to act on Libya.

Though if the would-be president is so keen on someone else footing the bill for the conflict, what about Trump himself? I raise this because one subject he has avoided having any kind of outburst on is the $2.9bn Trump International Hotel & Tower Dubai.




my comment: well, he's lost something.

[Hotler]

41. Kicking. Thanks for SMW. n/t

[xchrom]

43. Netflix Chief Executive Reed Hastings' compensation doubled to $5.5 million

http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/04/netflix-chief-executive-reed-hastings-compensation-doubled-to-55-million.html

Netflix Chief Executive Reed Hastings will need a few more zeros on his paycheck if he wants to be considered a real Hollywood mogul.

Hastings' 2010 compensation doubled to $5.5 million in 2010, according to the Los Gatos, Calif., company's proxy statement filed late Wednesday. Last year was a banner year for the company. Its stock price increased 219% to $175.70 and Netflix added 8 million subscribers, bringing its total to 20 million. Revenue jumped 29% to $2.16 billion and net income was up 39% to $161 million.

[TalkingDog]

65. I think if I owned stock in a company and woke up to read that crap in the morning paper

I'd dump stock so fast the paper would catch fire.

[Demeter]

79. I Concur

Unless he holds a majority stake in the firm, he is looting it.

[xchrom]

44. Pimco to launch 'Total Return' bond ETF

http://latimesblogs.latimes.com/money_co/2011/04/pimco-total-return-etf-mutual-fund-bonds-bill-gross.html

Investors who want to trade with bond guru Bill Gross on a minute-by-minute basis now will get their chance: The Newport Beach-based Pimco mutual funds plan to launch an exchange-traded "Total Return" bond fund managed by Gross.

As required with an ETF, the holdings of the new fund would be disclosed on a daily basis, rather than once a month as Pimco currently does with the conventional mutual fund version of Total Return. But Gross has hardly been shy about telling the world about his portfolio shifts.

[xchrom]

46. Washington Post launches Trove, a social-media news aggregation site

http://latimesblogs.latimes.com/technology/2011/04/washington-post-launches-trove-a-social-media-news-aggregation-site-.html

Washington Post Co. is venturing into the social-media business with Trove, a news aggregation website that can also be accessed via mobile apps.

Trove, which went live on Wednesday, pulls news from 10,000 sources across the Internet and sorts content by what a user's interests are.

Users can personalize content on the site and in apps by adding or subtracting "channels" that filter news on specific topics such as Google, Osama Bin Laden, books and sports.

It also sorts news by connecting to Facebook, taking information from a user's Facebook profile page and determining through its own algorithms what a person would be interested in.

[xchrom]

47. Zappos founder Tony Hsieh enjoys the good life

http://seattletimes.nwsource.com/html/businesstechnology/2014778365_zapposfounder17.html

HENDERSON, Nev. — Tony Hsieh, chief executive of Zappos.com, the online shoe and clothing retailer, was sitting in an office he rarely uses at the company's headquarters here, recollecting the high and low points of his childhood. He had just finished putting a roomful of corporate managers through the same exercise.

After pondering for a long moment, Hsieh, who sold Zappos to Amazon.com for more than $1 billion in 2009 and whose book, "Delivering Happiness: A Path to Profits, Passion and Purpose," spent 27 weeks on The New York Times best-seller list last year, identified the high as a Halloween night in middle school, when a group of trick-or-treating friends ended up at his family's home.

The low point: missing the last dance of eighth grade because he was taking a SAT test the following morning. "I remember being pretty disappointed," he recalled.

[xchrom]

48. Boeing to fight NLRB complaint on 787 South Carolina plant

http://seattletimes.nwsource.com/html/businesstechnology/2014824566_charleston21.html

Boeing was retaliating illegally against its largest union when it decided in 2009 to put a second 787 Dreamliner assembly line in a nonunion plant in South Carolina, the National Labor Relations Board (NLRB) charged in a complaint filed Wednesday.

To remedy the alleged violation, the complaint says, Boeing should be ordered to operate the second line at a union plant in Washington.

Boeing said it would "vigorously contest" the case and proceed with plans to start assembling planes in Charleston, S.C., in July. "This doesn't change anything," spokesman Tim Neale said.

The South Carolina plant could be operating for years before the dispute is decided, a labor-law expert said.

[xchrom]

56. this to do with air travel: Higher airfare cools off travel demand

http://www.marketwatch.com/story/higher-airfare-starts-to-cool-travel-demand-2011-04-19

NEW YORK (MarketWatch) — Growth in international air travel is likely to cool over the next several months as airlines raise ticket prices to cover higher fuel bills, the International Air Transport Association said Tuesday.

Signs of slowing demand already are evident. For February, higher ticket prices appear to be discouraging people from booking vacations overseas, with economy-class seating growth slowing to 3.3% year over year from 5% in January.

“Economy-travel volumes appear to have been trending downward since October,” the Geneva-based trade group said in the report. “The 34% rise in jet-kerosene prices over that period and the impact on travel costs may now be causing price-sensitive passengers to cut back.”

[Demeter]

49. AIG share price fall fails to deter US Treasury

The US Treasury is pressing ahead with plans to sell $20bn of AIG shares next month even though a sharp fall in the insurer’s stock price will lead to less profit for taxpayers, say people familiar with the sale.

Shares in AIG have fallen by more than 25 per cent in the past three months to close on Wednesday at $32.35, eroding the paper profit on the Treasury’s 92 per cent stake acquired as a result of the government’s 2008 rescue of the company, from $24bn in January to $6bn today.

Read more >>
http://link.ft.com/r/M2ZOXX/6V8ULR/K91WR/KE4SFJ/KE4URN/QR/t?a1=2011&a2=4&a3=20

GUESS WAITING FOR A RISING PRICE WAS A BAD MOVE...

[xchrom]

54. sheesh.

:mad:

[DemReadingDU]

62. Karl Denninger: TickerCon symbol

previous posting from 4/14/11
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4813611&mesg_id=4813771


To recap, The TickerCon symbol was '3' on 4/12/11, and moved to '2' on 4/14/11.
Today, the TickerCon is '1'
:wow:

Summary of various numbers
# 3: Caution Advised. Intelligent people are actively preparing for economic, geopolitical or social trouble that may be ahead by a short to moderate length of time (up to one year in advance.) FX, debt or equity markets are showing signs of distress and distortion through intentional acts. Interest rates are negative in real terms through some material part of the curve and/or there is evidence of intentional tampering with both FX and credit markets. Equity positions are subject to large and unforeseen swings that are not individual-event linked. This status may be maintained for an extended period of time before either being upgraded or downgraded.

# 2: Prepare. Intelligent people have or are in the final process of completing preparations or have completed them. Credit, FX and equity position exposures should be hedged. There is evidence of overt manipulation and stress which has at least a one-in-three chance of leading to a severe dislocation event within the next six to twelve months. This status may be maintained for six to twelve months before being upgraded or downgraded.

# 1: Locked-and-cocked. Preparations should be complete. Evidence exists suggesting that a financial, geopolitical or similar event is likely within the next several weeks. There is evidence that wide-spread economic, geopolitical or social distress has a reasonable probability (better than one in five) during the above time period. This status will not be maintained for more than thirty days as extraordinary vigilance is required to do so.

# Boom: Execute on your plans. Nothing further needs to be said. This status is not necessarily '"fatal" but it indicates that a severe dislocation event is occurring. This is similar to a Tornado warning - the funnel has been spotted and is on the ground. This status will be maintained for however long the actual condition lasts at which time it will be downgraded to the appropriate level.
http://market-ticker.org/akcs-www?post=184102

To read why Denninger moved to '1':

4/21/11 Anatomy Of A Monetary Accident
http://market-ticker.org/akcs-www?post=184678

[Demeter]

80. Well, that Is Specific Enough, as Well as Blunt

It doesn't really matter, does it--duck and cover.

[Johnny Harpo]

84. Tickercon At 1?....Are We Looking At A Gold Bubble Bursting?

have 'they' 'sold' more gold then is actually available?...hmmmmm

[Johnny Harpo]

86. What If All 3 Happen At The Same Time?......

economic trouble, geopolitical trouble or social trouble...all at the same time.

A 'tri-fecta' of sorts.

The 'perfect storm'....the results of which cannot be avoided?

[xchrom]

70. McAdvice: McDonald's warns of higher food inflation

http://www.reuters.com/article/2011/04/21/us-mcdonalds-idUSTRE73K0U820110421

(Reuters) - McDonald's Corp (MCD.N) said higher costs for beef, bread and other items cut into its quarterly margins and that inflation for the year would be worse than expected.

The inflation comments on Thursday sent shares of the world's largest restaurant company down 2 percent, even though strong sales helped McDonald's post a first-quarter profit that beat expectations. March sales at established restaurants also rose more than expected.

"The key question now will be how they are going to raise prices to try to offset some of these food costs," Edward Jones analyst Jack Russo said.

McDonald's said it now expects food costs to rise between 4 percent and 4.5 percent in the United States and Europe this year. In January, McDonald's said it expected its food costs to be 2 percent to 2.5 percent higher this year in the United States and up between 3.5 percent and 4.5 percent in Europe.

[InkAddict]

81. Going back to a basic menu might offset those costs some...

Eliminate: Mocha frappachinos, nix; sesame seed buns, nix, yogurt cups, nix, McRibs, McNuggets, McFish - ix-nay;
Serve breakfast items all day (?)
Create a best-tasting veggie burger (?)

Charge for that lettuce, cheese, special sauce.

Be sure drive-thru personnel can count - It sure costs a lot in terms of gas/time to have to drive back to get the one item that was NOT placed into the sack while the rest of the stuff gets cold. They took out group seating so families can't enjoy their meals together, so take-out it is.

[Festivito]

83. Debt: 04/19/2011 14,320,468,555,091.68 (UP 11,309,457,214.03) (Tue, UP a little.)

(Over the old debt limit of 14.294-trillion dollars by 26-billion dollars. Good day.)
Waking too early!
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,680,021,693,766.99 + 4,640,446,861,324.69
UP 498,845,624.51 + UP 10,810,611,589.52

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,206.92 makes 1T$.
A family of three: Mom, Dad, Child: $9.62, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,825,792 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,924.58.
A family of three owes $137,773.74. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 20 reports in the last 30 to 32 days.
The average for the last 20 reports is 4,780,306,708.61.
The average for the last 30 days would be 3,186,871,139.08.
The average for the last 32 days would be 2,987,691,692.88.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 136 reports in 201 days of FY2011 averaging 5.58B$ per report, 3.78B$/day.
Above line should be okay

PROJECTION:
There are 642 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 and 17.6T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
04/19/2011 14,320,468,555,091.68 BHO (UP 3,693,591,506,178.60 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,758,845,524,199.90 ------------* * * * * * * * * * * * * * * * * * BHO
Endof11 +1,378,003,066,333.15 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
03/25/2011 -000,034,574,737.25 ----
03/28/2011 +000,227,402,237.21 ------------******** Mon
03/29/2011 +000,181,007,415.32 ------------********
03/30/2011 +000,670,089,469.30 ------------********
04/04/2011 +000,336,873,927.41 ------------******** Mon
04/05/2011 -000,031,815,631.67 ----
04/06/2011 -000,011,756,275.73 ----
04/07/2011 +002,235,163,853.48 ------------*********
04/08/2011 +000,001,314,747.36 ------------******
04/11/2011 +000,390,366,211.15 ------------******** Mon
04/13/2011 +000,216,450,469.86 ------------********
04/14/2011 +004,827,508,513.07 ------------*********
04/15/2011 +021,566,615,397.70 ------------**********
04/18/2011 +000,320,133,441.47 ------------******** Mon
04/19/2011 +000,498,845,624.51 ------------********

31,393,624,663.19 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008 while Bush was in power JUST BEFORE fiscal year end.
Bush admin borrowed $962,245,245,654.01 in those last 124 days in office crossing two fiscal years.
$360,093,093,653.42 in last 12 days of FY2008, and $602,152,152,000.59 in subsequent 112 days before leaving office.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4820788&mesg_id=4820823

[Festivito]

85. Debt: 04/20/2011 14,314,796,837,035.76 (DOWN 5,671,718,055.92) (Wed, UP a little.)

(Over the old debt limit of 14.294-trillion dollars by 21-billion dollars. Good day.)
Gotta get up, gotta get up, gotta get up in this afternoon.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,680,052,848,645.78 + 4,634,743,988,389.98
UP 31,154,878.79 + DOWN 5,702,872,934.71

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,206.84 makes 1T$.
A family of three: Mom, Dad, Child: $9.62, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,832,992 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,905.33.
A family of three owes $137,715.99. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 33 days.
The average for the last 21 reports is 4,282,591,243.64.
The average for the last 30 days would be 2,997,813,870.55.
The average for the last 33 days would be 2,725,285,336.86.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 137 reports in 202 days of FY2011 averaging 5.50B$ per report, 3.73B$/day.
Above line should be okay

PROJECTION:
There are 641 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 and 17.6T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
04/20/2011 14,314,796,837,035.76 BHO (UP 3,687,919,788,122.68 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,753,173,806,144.00 ------------* * * * * * * * * * * * * * * * * * BHO
Endof11 +1,360,932,867,537.43 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
03/28/2011 +000,227,402,237.21 ------------******** Mon
03/29/2011 +000,181,007,415.32 ------------********
03/30/2011 +000,670,089,469.30 ------------********
04/04/2011 +000,336,873,927.41 ------------******** Mon
04/05/2011 -000,031,815,631.67 ----
04/06/2011 -000,011,756,275.73 ----
04/07/2011 +002,235,163,853.48 ------------*********
04/08/2011 +000,001,314,747.36 ------------******
04/11/2011 +000,390,366,211.15 ------------******** Mon
04/13/2011 +000,216,450,469.86 ------------********
04/14/2011 +004,827,508,513.07 ------------*********
04/15/2011 +021,566,615,397.70 ------------**********
04/18/2011 +000,320,133,441.47 ------------******** Mon
04/19/2011 +000,498,845,624.51 ------------********
04/20/2011 +000,031,154,878.79 ------------*******

31,459,354,279.23 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008 while Bush was in power JUST BEFORE fiscal year end.
Bush admin borrowed $962,245,245,654.01 in those last 124 days in office crossing two fiscal years.
$360,093,093,653.42 in last 12 days of FY2008, and $602,152,152,000.59 in subsequent 112 days before leaving office.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4822243&mesg_id=4822732

[Hotler]

90. No SMW for friday????

[some guy]

91. Now see here,

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x599244

:hi: