U.S. stocks rose Friday, for their second consecutive weekly advance, as upbeat earnings reports from a number of companies, including Walt Disney and JC Penny, spurred optimism that the economic recovery is gaining momentum.  A dip in the value of dollar, on concerns consumer spending is likely to remain bleak, sent shares of commodity-related companies up. 

On Friday, the 30-stock Dow Jones industrial average rose 73 points, or 0.72%, to 10,270.47. The broad Standard & Poor's 500-stock index was up 6.24 points, or 0.57%, at 1,093.48. The tech-heavy Nasdaq composite index advanced 18.86 points, or 0.88%, to 2,167.88.  For the week the Standard & Poor’s 500 Index jumped 2.3% to 1,093.48.  The Dow average rose 247.05 points, or 2.5%, to 10,270.47, following its 3.2% advance the prior week.

The spike in commodities came after the greenback fell Friday on news that the trade deficit widened more than expected in

A day after the triple-digit rally, Wall Street paused for a breather as investors decided to book profits on a light trading day.  The markets opened lower and then swung between gains and losses amid prevailing caution after a series of disappointing results.  The Dow, nevertheless, managed to tack on 20 points for its fifth straight session gain.

The Standard & Poor's 500 Index shed 0.01%, to 1,093.01 and the technology-laden Nasdaq Composite Index slipped 2.98 points, or 0.14%, to close at 2,151.08.  On the New York Stock Exchange, three stocks declined in price for every two that rose.  Volume was light as only 990 million shares exchanged hands.

Record low interest rates and a sliding dollar have helped stocks in recent months as investors have taken their focus away from some of the persistent worries of the economy.  Also, with the Federal Reserve continuing its highly accommodative monetary

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Sunday November 8, 2009

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Let’s call it what it is; It’s Reagan’s Fault!

The government, both state and federal, is on a feeding frenzy to save the banks, the real reason is that the banks are the feeding ground for our politicians, in fact any office seeker is beholden to the banks for their financial support. As such there will never be any meaningful control over these institutions.

There are now 140 fewer banks then there was last year, and the too big to fail have gotten even larger, and now

U.S. stocks rose for a fifth day on Thursday as a larger than expected drop in U.S. jobless claims and an upbeat forecast from consumer goods maker Procter & Gamble added to enthusiasm that the economy is on track for a rebound.  Energy shares advanced, helped by rising forecasts for oil demand.  Nevertheless, given September’s weak track record, market participants have been bracing for a pullback.

On Thursday, the Dow Jones industrial average rose 80.26 points, or 0.8%, to 9,627.48, its highest close since October 6.  The broader S&P 500 index advanced 10.77 points, or 1%, to 1,044.14, its first five-day climb since November.  The Nasdaq composite index rose 23.63 points, or 1.2%, to 2,084.02.  With traders eschewing safe havens, yield on the benchmark 10-year Treasury note fell to 3.35%. The yield on the 30-year notes declined to 4.20%.

As the holiday-shortened week comes to an end today, investors

Currencies trade in a tight range…  G-20 to shun an exit from stimulus?  Gold and Silver and Oil… A new trend? Loonies follow the commodities higher… And Now… Today’s Pfennig! Good day… And a Happy Friday to one and all! Well… Once again, my day didn’t turn out exactly as planned, but as they say… A bad day at the ballpark is better than a good day and then you plug in the place… It could be work… It could be cutting the grass… Etc..

OK… I heard a great song on the radio this morning on my way to work… And I said to myself… Chuck, now that’s a great song to start a day with, that everyone should hear each day! It’s a song from the 60’s (of course!), by the Rascals, called… It’s a Beautiful Morning… Here’s the first verse, and if you know the song, I’m sure you’ll want to sing

A government report that suggested the economy shrank at a slower pace than feared failed to push stocks higher on a lackluster Friday but indexes managed to end the month on a solid footing, spurred by hopes that the recession is losing its force.  The big July saw the Dow Jones industrial average surging 725 points or 8.6% - its best July since 1989, and the broader S&P 500 index gaining 7.4% for its best July run since 1988.  The S&P500 has now recorded its most remarkable five-month performance since 1938, holding 46% above its 12-year low set in early March.

This morning’s US stock futures indicate a sharply higher opening, helped by positive signs emanating from overseas markets.  Today, Chinese stocks hit a 14-month high after data showed manufacturing activity is expanding in the country.  The Shanghai Composite Index rose 50.53 points, or 1.5%, to close at 3,462.59

US stocks staged a sharp recovery yesterday, helped by rebound in financial shares, as analyst Meredith Whitney’s bullish comments on Goldman Sachs (NYSE:GS) triggered a buying spree and investors snapped up banking and industrial stocks.  The Dow Jones industrial average jumped 185 points.  Bank of America (NYSE:BAC), which has been hit hard by loan losses, also surged after Whitney said on CNBC the shares were the cheapest among U.S. banking stocks.  The S&P 500 index added 22 points, or 2.5%.  The NASDAQ rose 37 points, or 2.1%, helped by a 2.1% rally in technology stocks.

However, CIT Group Inc. (NYSE:CIT) plunged 11.8% after the commercial finance lender said its failure would put prospects of 760 manufacturing clients in jeopardy and precipitate a crisis for about 300,000 retailers.  American International Inc. (NYSE:AIG) rallied 24% and was the leading gainer among S&P 500 stocks after media reports said Primus Financial Holdings

It’s always a pleasant surprise to find yourself in good company. As loyal readers already know, here at Notes HQ we’re not exactly part of the “in crowd.” Whether we’re writing about the trillion dollar deficits, banks’ phony earnings, government bamboozles or the sucker’s rally in stocks, you’re unlikely to find the official spin in our daily missives.

Generally, we like it like that. It makes us feel special. Instead of pulling up our knee socks and getting out our pompoms along with the mainstream media hacks, we remain ever sceptical about tales of recovery… of so-called “green shoots”… and, above all, of Washington’s empty promises and various boondoggles.

But once in a while, it’s nice to know you have friends… that people far smarter than you share the same opinions as you do.

So it was with much delight that we opened up the latest King Report from honorary underground investor Bill King –

U.S. stocks declined for the third consecutive day after Standard & Poor's cut its credit ratings and outlooks for 22 banks and bellwether FedEx Corp's weak profit forecast reignited worries of a prolonged recession.  Nevertheless, consumer and technology stocks helped Nasdaq end the day higher with a 0.7% gain.

Pre-market futures suggest a flat opening as traders look for concrete signs of an economic recovery, amid fears of increased government interventions and a crushed economic rebound.

Commodities and financial shares led the decliners yesterday, but healthcare stocks rose after Democratic leaders began working on a healthcare overhaul that would make it mandatory for all Americans to have health insurance coverage.  Shares traded in a narrow range, swinging between gains and losses.  Among S&P industry groups, financials led the declining issues with a 2.2% fall.  Oil and basic materials both recorded a 1.6% fall.  Stocks of consumer services companies

Asian stocks declined Monday as cautious investors evaluated whether the three-moth old rally is due for a pause amid conflicting sings of an economic recovery.  European stocks were also down following the losses in Asia.  Earlier, Asian benchmarks declined with Japan's Nikkei 225 stock average losing 1% to 10,039.67 and the Hang Seng Index in Hong Kong declining more than 2%.  South Korea's Kospi was off 1.1%. However, the Shanghai Composite index in Mainland China bucked the trend, rising 1.7%. 

U.S. stock futures pointed to a lower open on Wall Street with Dow futures down 94 points, or 1.1%, at 8,696.

Friday saw a quiet trading week coming to a halt, in which the Dow Jones Industrial Average joined the S&P and Nasdaq in positive territory for the year.  The Dow, which has risen in 12 of the last 14 weeks, gained 28 points, or 0.3%, to close