Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
UK Coronavirus Infections and Deaths Projections Trend Forecast - Video - 28th Mar 20
The Great Coronavirus Depression - Things Are Going to Change. Here’s What We Should Do - 28th Mar 20
One of the Biggest Stock Market Short Covering Rallies in History May Be Imminent - 28th Mar 20
The Fed, the Coronavirus and Investing - 28th Mar 20
Women’s Fashion Trends in the UK this 2020 - 28th Mar 20
The Last Minsky Financial Snowflake Has Fallen – What Now? - 28th Mar 20
UK Coronavirus Infections and Deaths Projections Trend Forecast Into End April 2020 - 28th Mar 20
DJIA Coronavirus Stock Market Technical Trend Analysis - 27th Mar 20
US and UK Case Fatality Rate Forecast for End April 2020 - 27th Mar 20
US Stock Market Upswing Meets Employment Data - 27th Mar 20
Will the Fed Going Nuclear Help the Economy and Gold? - 27th Mar 20
What you need to know about the impact of inflation - 27th Mar 20
CoronaVirus Herd Immunity, Flattening the Curve and Case Fatality Rate Analysis - 27th Mar 20
NHS Hospitals Before Coronavirus Tsunami Hits (Sheffield), STAY INDOORS FINAL WARNING! - 27th Mar 20
CoronaVirus Curve, Stock Market Crash, and Mortgage Massacre - 27th Mar 20
Finding an Expert Car Accident Lawyer - 27th Mar 20
We Are Facing a Depression, Not a Recession - 26th Mar 20
US Housing Real Estate Market Concern - 26th Mar 20
Covid-19 Pandemic Affecting Bitcoin - 26th Mar 20
Italy Coronavirus Case Fataility Rate and Infections Trend Analysis - 26th Mar 20
Why Is Online Gambling Becoming More Popular? - 26th Mar 20
Dark Pools of Capital Profiting from Coronavirus Stock Markets CRASH! - 26th Mar 20
CoronaVirus Herd Immunity and Flattening the Curve - 25th Mar 20
Coronavirus Lesson #1 for Investors: Beware Predictions of Stock Market Bottoms - 25th Mar 20
CoronaVirus Stock Market Trend Implications - 25th Mar 20
Pandemonium in Precious Metals Market as Fear Gives Way to Command Economy - 25th Mar 20
Pandemics and Gold - 25th Mar 20
UK Coronavirus Hotspots - Cities with Highest Risks of Getting Infected - 25th Mar 20
WARNING US Coronavirus Infections and Deaths Going Ballistic! - 24th Mar 20
Coronavirus Crisis - Weeks Where Decades Happen - 24th Mar 20
Industry Trends: Online Casinos & Online Slots Game Market Analysis - 24th Mar 20
Five Amazingly High-Tech Products Just on the Market that You Should Check Out - 24th Mar 20
UK Coronavirus WARNING - Infections Trend Trajectory Worse than Italy - 24th Mar 20
Rick Rule: 'A Different Phrase for Stocks Bear Market Is Sale' - 24th Mar 20
Stock Market Minor Cycle Bounce - 24th Mar 20
Gold’s century - While stocks dominated headlines, gold quietly performed - 24th Mar 20
Big Tech Is Now On The Offensive Against The Coronavirus - 24th Mar 20
Socialism at Its Finest after Fed’s Bazooka Fails - 24th Mar 20
Dark Pools of Capital Profiting from Coronavirus Stock and Financial Markets CRASH! - 23rd Mar 20
Will Trump’s Free Cash Help the Economy and Gold Market? - 23rd Mar 20
Coronavirus Clarifies Priorities - 23rd Mar 20
Could the Coronavirus Cause the Next ‘Arab Spring’? - 23rd Mar 20
Concerned About The US Real Estate Market? Us Too! - 23rd Mar 20
Gold Stocks Peak Bleak? - 22nd Mar 20
UK Supermarkets Coronavirus Panic Buying, Empty Tesco Shelves, Stock Piling, Hoarding Preppers - 22nd Mar 20
US Coronavirus Infections and Deaths Going Ballistic as Government Start to Ramp Up Testing - 21st Mar 20
Your Investment Portfolio for the Next Decade—Fix It with the “Anti-Stock” - 21st Mar 20
CORONA HOAX: This Is Almost Completely Contrived and Here’s Proof - 21st Mar 20
Gold-Silver Ratio Tops 100; Silver Headed For Sub-$10 - 21st Mar 20
Coronavirus - Don’t Ask, Don’t Test - 21st Mar 20
Napag and Napag Trading Best Petroleum & Crude Oil Company - 21st Mar 20
UK Coronavirus Infections Trend Trajectory Worse than Italy - Government PANICs! Sterling Crashes! - 20th Mar 20
UK Critical Care Nurse Cries at Empty SuperMarket Shelves, Coronavirus Panic Buying Stockpiling - 20th Mar 20
Coronavirus Is Not an Emergency. It’s a War - 20th Mar 20
Why You Should Invest in the $5 Gold Coin - 20th Mar 20
Four Key Stock Market Questions To This Coronavirus Crisis Everyone is Asking - 20th Mar 20
Gold to Silver Ratio’s Breakout – Like a Hot Knife Through Butter - 20th Mar 20
The Coronavirus Contraction - Only Cooperation Can Defeat Impending Global Crisis - 20th Mar 20
Is This What Peak Market Fear Looks Like? - 20th Mar 20
Alessandro De Dorides - Business Consultant - 20th Mar 20
Why a Second Depression is Possible but Not Likely - 20th Mar 20

Market Oracle FREE Newsletter


Stock Markets Begin Week With Tentative Gain

Stock-Markets / Financial Markets 2009 Jan 27, 2009 - 04:07 AM GMT

By: PaddyPowerTrader

Stock-Markets Best Financial Markets Analysis ArticleOn a very back day for US employment, there was 71,400 job cuts announced. Still equity indices managed to eek out some meagre gains with the blockbuster Pfizer/Wyeth merger, a bullish statement from Barclays, solid earnings from the ever dependable McDonalds and better than expected existing home sales numbers bringing some relief. So a day when investors chose to see the glass as half full. I remain highly sceptical, particularly of tech stocks .

Today's Market Moving Stories

  • Overnight the Nikkei rallied over 5% on a new $16.7bn Japanese government plan to buy stakes in troubled firms via direct purchases of preferred or common stock. Shipping and exporter stocks led the way, benefiting from a weaker Yen.
  • “And please Sir can I have some more” from the shameless Freddie Marx and Fannie Engels with news the Fannie Mae and Freddie Mac are to seek a further $16bn and $35bn from the TARP. Hang ‘em high and Chris Dodd and Phil Gramm with them.
  • I wrote recently of Société Générale's equity guru Albert Edwards rather bleak forecast for China. His theory was that China would start to implode with the current regime responding with a Mercantalist style devaluation of the Yuan leading to a trade war with the US. The result being that a recession turns into a depression. Well footage like this will spark fears that he could just be right (again).
  • Irish government bonds also got some much needed bid on news that Blackrock was buying Spanish and Greek debt after what they regarded as ridiculously (high) spreads over Germany. But JP Morgan has recommended buying protection against a Greek sovereign default via the CDS (credit default swap) market. I have said it before and will say it the again that the ECB should come in and take these trades and smash JP Morgan and other charlatans peddling these weapons of Euro spread destruction. But of course the ECB, forever in denial, would rather talk more hawkish guff and end up tripped up by events everyone bar themselves seems capable of foreseeing. Rip up the textbook lads and do the right thing before we end up with deflation and depression in the Eurozone. Even a dog learns if you kick it often enough.
  • Location, location, location. While you may be trying to offload that second home in Muff or Termonfeckin (actual places), spare a thought for those who live in ….


  • A bit of rest bite for Irish bank shares yesterday with AIB and Bank of Ireland up 33% and 36% bouyed by a strong performance by their UK counterparts.
  • Equities in the news this morning include Siemens who are up 5% after surprising the market with better than expected results and more importantly sticking to their 2009 guidance (brave call).
  • Nordic phone company Telenor have pulled their rights issue saying that their plan to buy India's Unitech Wireless will now be funded via scrapping dividends and more debt.
  • Dutch phone company KPN is also up over 5% this morning after reaffirming their 2009 and 2010 targets.
  • British Land is off after being cut to a sell at Goldman Sach's on weakness in the CRE market.
  • A busy morning for Goldman Sach's analysts as they have also cut Irish cider maker C&C to a sell due to loss of market share to Heineken in the tough UK market.

Data And Earning Today
One of the very few numbers with clout out today is the German IFO survey of business sentiment of 7,000 executives. The consensus forecast is for it to sink to a 26 year low of 81.0. It has actually just come in confounding expectations with a rise to 83.0. Mmmm not good news for those hoping for a February rate cut from the ECB. EUR/USD up to a 1 month high of 1.333 on the news.

From across the Atlantic we get the Case-Shiller home price index at 14.00 (-18.4 expected), consumer confidence at 15.00 (39.0) and the Richmond Fed manufacturing Index (-50).

Earnings highlights today are Verizon (expected EPS $0.61), DuPont, U.S. Steel ($0.75), Yahoo $0.13), Sun Micro (-$0.08) and Bristol-Myers Squibb ($0.41).

And Finally… Bankers First

Disclosures = None

By The Mole

The Mole is a man in the know. I don’t trade for a living, but instead work for a well-known Irish institution, heading a desk that regularly trades over €100 million a day. I aim to provide top quality, up-to-date and relevant market news and data, so that traders can make more informed decisions”.

© 2009 Copyright PaddyPowerTrader - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

PaddyPowerTrader Archive

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules