Oct
31
The 50/200 Cross: RL
Pete @ 12:46 PM | | Leave a Comment
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Oct
31
S&P 500 Musical Chairs: J.M. Smucker
Pete @ 12:45 PM | | Leave a Comment
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Oct
30
Building Your Investment Portfolio, Part 9
Teresa @ 5:30 PM | | 3 Comments
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Oct
30
What The Market Says for Friday
Teresa @ 5:08 PM | | Leave a Comment
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Oct
30
Trading Ideas for Friday
Teresa @ 3:00 PM | | Leave a Comment
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Oct
30
Will First Solar (FSLR) Burn Bulls?
Pete @ 2:47 PM | | 1 Comment
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Oct
30
S&P 500 Musical Chairs: Wisconsin Energy
Pete @ 2:27 PM | | Leave a Comment
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Oct
30
The 50/200 Cross: WU
Pete @ 2:26 PM | | Leave a Comment
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Oct
29
Observations and Market Sentiment
Teresa @ 5:19 PM | | Leave a Comment
The FOMC lowered rates as expected today but I’m surprised that the following paragraph of the FOMC Statement didn’t get more airtime:
Recent policy actions, including today’s rate reduction, coordinated interest rate cuts by central banks, extraordinary liquidity measures, and official steps to strengthen financial systems, should help over time to improve credit conditions and promote a return to moderate economic growth. Nevertheless, downside risks to growth remain.
Is the world converging to state capitalism? I mean, it’s getting really hard to differentiate between actions taken in Washington from those in London, Berlin, Beijing and Moscow. Reuters reported that Russian First Deputy Prime Minister Igor Shuvalov said:
. . . [T]he government plans to spend up to 100 billion roubles ($3.70 billion) starting in November to buy up newly built apartments from construction companies for social needs, thus supporting falling prices in the property sector. “In the construction sector we may see a fall in demand … In case people are not ready to buy apartments, in case they tear up their contracts, we will replace that with government demand.”
For details, check out the article in The Moscow Times. Kremlin is also selectively bailing out oligarchs.
Other stories that you may have missed are as follows:
- Credit ‘Tsunami’ Swamps Trade as Banks Curtail Loans
Of the $13.6 trillion of goods traded worldwide, 90 percent rely on letters of credit or related forms of financing and guarantees such as trade credit insurance, according to the Geneva-based World Trade Organization. . . . The cost of a letter of credit has tripled for buyers in China and Turkey and doubled for Pakistan, Argentina and Bangladesh, said Uwe Noll, director of country risk sales at Deutsche Bank AG. Banks are now charging 1.5 percent of the value of the transaction for credit guarantees for some Chinese transactions, bankers say. - India Braces for Job Cuts
Many Indian companies in sectors including technology, financial services and construction are likely to cut one quarter or more of their employees in coming weeks, warned the Associated Chambers of Commerce and Industry of India, a trade group, on Wednesday. A number of large companies have already drawn up “conclusive plans” to cut their work forces by 25% to 30%, said Sajjan Jindal, the group’s president.
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