Global Investment News Briefs Friday, April 3, 2009
Source: http://feedproxy.google.com/~r/ContrarianProfits/~3/KvHAj3U2X8U/15432Posted on Friday, April 3rd, 2009 | In Market Commentary
Contributed by: Contrarian Profits (http://contrarianprofits.com) -
February Factory Orders Turn Positive; Fixed Mortgages at Record Low; GM Seeks Gov’t Money For Hybrids; Chile: Copper Prices Heading North; IBM Lowers Bid for Sun; Oil Surges 9% on Dollar Weakness
- U.S. factory orders rose in February, reversing six months of consecutive declines, the Commerce Department said. New factory orders rose 1.8% in February after dropping a revised 3.5% in January, Reuters reported.
- The 30-year fixed-mortgage rate dropped to 4.78%, a 30-year low, as the U.S. Federal Reserve increases its purchases of mortgage-backed bonds, Bloomberg reported. “Lower rates will help increase demand for homes. We need to see stronger demand for homes to help end the housing correction,” Celia Chen, senior director at Moody’s Economy.com told Bloomberg.
- Seeking funding to develop three new hybrid vehicles, General Motors Corp. (GM) asked the U.S. Treasury for a low-interest $2.6 billion loan, Reuters reported. If received, the loans would help the company develops two spinoffs from its all-electric Chevrolet Volt.
- Copper’s December price of $1.25 a pound is “in the past,” said Chile’s Mining Minister Santiago Gonzalez. December’s price was a four-year low, a result of tapering demand from China. Now, “China is buying large amounts of copper,” Gonzalez said to Bloomberg. “That’s part of copper’s recovery.”
- International Business Machines Corp. (IBM) cut its offer for Sun Microsystems Inc. (JAVA) to $9 from $10 per share, The Wall Street Journal reported. Sun has agreed to accept a lower price in return for stronger commitments from IBM that it will complete the deal even if it faces intense regulatory scrutiny, according to The Journal.
- Oil prices surged nearly 9% yesterday (Thursday), as light, sweet crude for May delivery rose $4.25 to settle at $52.64 a barrel on the New York Mercantile Exchange. Natural gas for May delivery added 8.7 cents to settle at $3.782 per 1,000 cubic feet.
Source: Global Investment News Briefs Friday, April 3, 2009
Last 5 posts by Contrarian Profits
- Transportation Sector: powered by recovery - November 23rd, 2009
- The Dollar, the Euro, and being Bullish on Gold - November 20th, 2009
- Audit the Fed – Amendment to a $200 billion bill frightens currency traders! - November 20th, 2009
- What if They Stop Buying our Debt? - November 19th, 2009
- Goldbugs Beware! The tax man cometh! - November 18th, 2009
Tags for this Post:
bloomberg, Celia Chen;, cent;, Chile, China, contrarian profits, Department Of Commerce, General Motors Corp, Ibm, International Business Machines Corp., Java, Market Commentary, mining, Moody's, Natural Gas, Oil Prices, Reuters, Santiago Gonzalez;, The Wall Street Journal, United States, Us Federal Reserve, Us Treasury, USD
bloomberg, Celia Chen;, cent;, Chile, China, contrarian profits, Department Of Commerce, General Motors Corp, Ibm, International Business Machines Corp., Java, Market Commentary, mining, Moody's, Natural Gas, Oil Prices, Reuters, Santiago Gonzalez;, The Wall Street Journal, United States, Us Federal Reserve, Us Treasury, USD
ContrarianProfits.com is a financial news and opinion website with a twist. As investment guru Rick Rule puts it, “You are either a contrarian or a victim.” In the financial world, most people are losers because they just don’t know what game they’re playing. They think they can just get “into the market” along with everyone else, do what everyone else does, and they will make money. Not likely. By the time you’ve paid commissions, spreads, fees, taxes – and suffered the consequences of inflation – you’ll be very lucky just to have as much money as you started with.
ContrarianProfits.com is a contrarian site, in the sense that we provide ideas, opinions and recommendations that often run counter to the mainstream financial press. We do this not just to be contrary, but because we’ve realized that Rick is right. You don’t make money by following the crowd; you make money by leading it.
Why is this so? Well, it’s obvious that if you do the same thing everyone else does you’ll get the same results everyone else gets. On average, and over the long run, real investment returns for the typical investor cannot exceed the rate of growth of the economy itself. Everybody can’t get richer faster than everybody else. Real economic growth in the US today averages about 3% per year; if you don’t make any mistakes, that’s about what you can expect. Few people may be satisfied with 3% per year, but most feel comfortable in the middle of the financial herd and are happy to take whatever that gets them. If you’re one of those people, you will probably not like our site. It will make you uncomfortable.
If, on the other hand, you’re willing to look at things a little differently, you’ll appreciate the views of many of our columnists, contributors and visionaries.
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.