The "up-to-the-minute Market Data" thread

Originally posted by Surfrat
FYI
Reuters reporting.

The Foundation for Economic and Industrial Research projection (IOBE) in its quarterly review says Greek economy will shrink 5% this year and unemployment will reach 20%.

The EU Commission and IMF forecasts contraction of 4.7-4.8%

That's good? That's what they wanted, isn't it?

this news is recent and not reported loudly by the MSM

www.321gold.com...

John Browne
Posted Apr 5, 2012

Last week, the leaders of Brazil, Russia, India, China, and South Africa met in New Delhi for their fourth annual "BRICS" summit. The meeting brought together five countries that together represent 43 percent of the world's population and 18 percent of the world's GDP. (More importantly, the group is currently attracting 53 percent of global financial capital.) When the gathering concluded on March 29, the coalition subtly issued its latest challenge to the increasingly desperate bankers and politicians of the West. They announced more definitive plans to establish a BRICS-focused development bank, to be solely funded by the BRICS countries themselves. Such an institution could allow this emerging bloc to pursue independent policies on the world stage, thereby challenging the global financial dominance of the World Bank and the International Monetary Fund (IMF), which for nearly 70 years have served as powerful monetary levers for Western interests.

the BRICS bank would not rely on the USD as a world reserve currency either... they would swap sovereign monies between themselves...


I think the only way the IMF would allow this type of competition 'Bank'
would be that the BRICS Bank would need a certain amount of AAA rated collateral

... i.e. in the form of USA Treasuries to be held in the BRICS reserve which would of necessity
have at least 10% gold bullion in the banks treasury


this leverage deal by the Anglo-American finance beast will help the Federal Reserve hide the QE3 that will be stealthy put in place until 2014... after then, the Treasury rates will be allowed to float higher


This BRICS bank is a two edged sword imho.... carefully balanced on a high-wire over the global financial abyss

reply to post by St Udio


I remember reading a while back that the purpose of countries joining the Brics was to create a force to fight the G20, the countries in question were criticized by the G20, now that the Brics has gotten a strong hold their purpose has changed because China now holds a veto vote in NATO.

While the Brick and G7 were more of nations left behind by the powers of the G20 now they are becoming a vocal minority.

Something to keep an eye on.

European stock markets slip on growth fears

European stocks fell in early trading as investors were given their first chance after the Easter break to react to Friday's disappointing US jobs data.

France's Cac 40 index fell 1.5%, while the UK's FTSE 100 and Germany's Dax lost about 1%.

Italian shares fell by almost 3% on media reports the government was about to cut its growth forecast.

Investors also had an eye on mixed Chinese data showing a rise in exports but a sharp fall in imports.

Figures released on Friday by the US Labor Department showed the smallest growth in employment in five months.

The US economy added 120,000 jobs during March, less than the 200,000 widely predicted by analysts.

The figures raised fears about the strength of the recovery in the US economy...

...Meanwhile, the interest rate on Spanish bonds traded in the secondary market continued to rise.

The yield on 10-year bonds hit 5.84%, up from 5.74% on Monday, indicating that investors are getting increasingly concerned about Spain's ability to repay its debts...

Source


FTSE 5670.34 down 53.33 (-0.93%)

Dax 6706.28 down 68.98 (-1.02%)

Source


Doubtless the herd mentality will mean the bulls continue to prevail, with such relatively minor adjustments serving to ease their conscience regarding the need to respond to real data, as opposed to wishful thinking...

Man they sure are dragging this financial collapse out and getting their moneys worth for it.

Originally posted by TiM3LoRd
Man they sure are dragging this financial collapse out and getting their moneys worth for it.

Yeah, someone is getting their money's worth and it isn't the common worker. It just amazes me that the MSM keeps acting like we are on the road to recovery. I keep hearing the QE3 rumors (July maybe sooner), the DOW took another dive today, on and on..It is astounding how headlines like this still haven't woken up the other half:
BBC Headline

Sony doubles forecast of annual loss to $6.4bn

Business Weekly

Spain Is on the Bleeding Edge of a New European Crisis

www.businessweek.com...[/url]

I think people really think it is getting better. The sheep have been brainwashed in that there is no Global Meltdown.

Is SNPK a good stock?

I could have tripled my investment on it twice now over the past 2 months, but I didn't trust the marketeers. It went way up, and then fell back down, but they kept promoting it, and now it is way up again. Now, they are sending new promotions saying it may have a pullback, but it will likely continue to go up long term.

I hate penny stocks, but I'm kicking myself for not buying in twice before. If I would have just followed my own system, I would have been in low, sold with a nice gain, then when it dropped and started being promoted, I could have bought and sold again. Following my system, I wouldn't have tripled my money twice, I'm far too conservative, but I would have doubled it over the 2 runs.

What say ya'll? Its at a new 52 week high, and they are still promoting it. Wait for a drop? Or buy and ride it out awhile?

Crazy, crazy price action today.
Bad reports got released today, and also the markets looked like they'd topped out and were on their way down, yet the markets go to the moon! Its crazy!
A word of advice, do not trade stocks, its a rigged casino, and the house always wins.
Traders have been scratching their heads for months now, I bet they've no hair left.

In general, the trend is up except for the end of the tax season (mid April - end of May) when all those checks go to the IRS and the "Autumn fall" (start of September - end of October). Remember that this is an average across many decades and that the "Autumn fall" does not always come to be as was the case in the 1910s and 1940s. In the 1990s, the "Autumn fall" has started one and a half months early.

Just a reminder people, we are in election year, the acting president is for re election, so do not expect any financial bad news to come from the manipulated Wall Street any time soon until the end of election year.

That is why I will take anything coming from the financial so call "expert"s in government pay roll with anything less than skepticism.

People are totaly clueless and don't have a clue how seriously bad the economy realy is.I do not even trust any banks. Anything could be decided and collapse more banks any day.
This thing is not fear mongering or a conspiracy.

Euro crisis is very very dangerous.

In addition to earnings, investors will turn their focus to next week’s two-day Fed meeting, where traders will pray for another hit of the global drug of choice: QE. Since the financial crisis began in 2008, we’ve had QE, QE2, Twist, and a whole number of other assorted programs designed to stimulate the economy. The efficacy of those measures is a subject of hot debate, but it’s clear that market participants have become hooked on the Fed and will surely applaud any measures it takes to keep the global liquidity train rolling. With the 2012 elections coming up, Bernanke’s window to announce any additional measures might be closing, and that makes next week’s meeting even more important

One of the biggest themes in the market this year has been the health of the Chinese economy. Every recent bit of Chinese economic data has sent U.S. stocks and risk currencies on a volatile path both up and down. But a key test will come over the weekend with the release of the HSBC Flash PMI, a measure of private sector manufacturing activity within China. It will be announced late Sunday, making it the first trading event of the week, and it will surely set the tone and tenor for trading on Monday
If China PMI is +50 Buy Aud/$; If -50 Sell Aud/$

China's economy probably isn't as healthy as what many believe it to be. When they start really having problems Australia's economy is going to dive to.

reply to post by surrealist


Yep, that's why I'd sell Aud if Chinas' PMI goes south

Originally posted by Surfrat
One of the biggest themes in the market this year has been the health of the Chinese economy. Every recent bit of Chinese economic data has sent U.S. stocks and risk currencies on a volatile path both up and down. But a key test will come over the weekend with the release of the HSBC Flash PMI, a measure of private sector manufacturing activity within China. It will be announced late Sunday, making it the first trading event of the week, and it will surely set the tone and tenor for trading on Monday
If China PMI is +50 Buy Aud/$; If -50 Sell Aud/$

China HSBC initial PMI rises to 49.1 in April

China's manufacturing activity contracted further in April, although the sector improved from levels seen in March, a preliminary reading from HSBC showed Monday. HSBC's so-called "flash" Purchasing Managers' Index rose to 49.1 in April, compared with a final reading of 48.3 in March. A reading below 50 shows contraction, while one above 50 indicates an expansion. The improvement in factory conditions in April "suggests that the earlier easing measures [from Beijing] have started to work and hence should ease concerns of a sharp growth slowdown," said Hongbin Qu, chief economist for China at HSBC. He added, however, that additional policy-easing measures were required to support the economy and said HSBC expects monetary and fiscal easing to speed up in the quarter ending June 30. The flash PMI is based on responses from 85% to 90% of those surveyed in a given month.

I like Market Watch and check these two often:

www.finviz.com...

www.barchart.com...

Well once again SS in trouble, but hey what can we expect when you have a government that can not keep their hand off the cookie jar.

Still, privatization is not needed as we know that up today our SS has been used by the Fed to buy into American treasury bonds that then are used to finance all kind of shady programs that the fed and our government get into mostly oversea.

Isn't the crocks fantastic.

Well perhaps if Obama wins he will get away with selling the whole program to the kind of JP Morgan in the private laundering business and when the economy goes down south again like in 2008 the tax payer will pay for it again and again and again.

One of President Obama’s largest financial backers is a key executive at the largest Swiss bank in the world, complicating his criticism of presumptive Republican nominee Mitt Romney.

Robert Wolf is president of Swiss financial giant UBS Investment Bank and chairman of UBS Americas. He has been one of Obama’s most prolific fundraisers dating back to 2006, when the former Senator from Illinois initiated his run for the White House.

Wolf has bundled more than $500,000 for the president’s reelection, campaign records show. He is but one of many wealthy bankers Obama has turned to in an effort to win a second term.

According to campaign reporter John Heilemann, Obama and Wolf first met in December 2006 in a conference room owned by liberal billionaire George Soros, who is currently embroiled in a domestic dispute with his 31-year-old ex-girlfriend.

While addressing the Fed minutes today, Bernanke slipped on a Freudian banana peel.

“Commodity prices have been well controlled over the last couple of months.”

The only honest remark he made was unintentional.