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September 3, 2010
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| theflyonthewall.com: | Obama to announce new ideas on economy next week, Politico says | | President Obama said that he would unveil new ideas for boosting the economy next week, according to Politico. Reference Link :theflyonthewall.com |
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| theflyonthewall.com: | White House weighing massive business tax cuts, Washington Post reports | | The White House is "seriously" considering proposing business tax cuts worth hundreds of billions of dollars within the next several weeks, according to the Washington Post, which cited unnamed people familiar with the matter. A permanent extension of the R&D tax credit and a payroll tax holiday are among the measures being considered, the newspaper reports. A payroll tax holiday may not be universal in scope, White House officials warned. Reference Link :theflyonthewall.com |
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September 2, 2010
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| theflyonthewall.com: | Options Update; September 2, 2010 | | CBOE Volatility Index-VIX down 68c to 23.22. Option volume leaders today: PAR BAC AAPL ME C according to Track Data. :theflyonthewall.com |
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| theflyonthewall.com: | Schumer wants credit card companies to get TINs for customers, NY Post says | | Federal Reserve Chairman Ben Bernanke has been asked by New York Senator Chuck Schumer to consider requiring credit card companies to get tax identification numbers for customers who want corporate credit cards, the New York Post reports. Reference Link :theflyonthewall.com |
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September 1, 2010
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| theflyonthewall.com: | Options Update; September 1, 2010 | | CBOE Volatility Index-VIX down 1.88 to 24.17. Option volume leaders today: ACAS C BAC AAPL according to Track Data. :theflyonthewall.com |
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| theflyonthewall.com: | Outgoing White House aide says quantitative easing can boost economy | | The experience of the U.S. during the Great Depression in the 1930s shows that monetary expansion can help heal an economy even when interest rates are near zero, said Christina Romer, the outgoing chairman of the White House Council of Economic Advisers. The Obama administration's efforts to evaluate the capital needs of financial institutions and its programs to increase lending, along with its housing plan, should lead to economic growth, Romer contended. Another lesson from the Great Depression is that ending stimulative programs too early can have extremely negative consequences on economies, she said. Finally, Romer points out that Americans should be optimistic, since even the Great Depression did eventually end. Reference Link :theflyonthewall.com |
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| theflyonthewall.com: | Citigroup to sell Viceroy Anguilla mortgage at a significant loss, WSJ reports |
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| theflyonthewall.com: | Data shows Chinese manufacturing sector grew in August, NY Times reports | | Two monthly surveys of Chinese purchasing managers released yesterday - one conducted by the Chinese government and the other by HSBC - indicated that the growth of manufacturing activity in the country increased slightly last month, according to the New York Times. The data indicated that the country's growth is not declining at a worrisome pace, as some had feared. Reference Link :theflyonthewall.com |
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August 31, 2010
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| theflyonthewall.com: | Options Update; August 31, 2010 | | CBOE Volatility Index-VIX down 1.10 to 26.11. Option volume leaders today: BAC CSCO RIMM C according to Track Data. :theflyonthewall.com |
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| theflyonthewall.com: | Divided Fed sees mixed picture for economy | | Members of the Federal Reserve Open Market Committee still expected the economic recovery to continue and accelerate next year, according to minutes of the committee's August 10 meeting that were released today. However, most members now believe that the recovery will be weaker in the second half of 2010 than they had previously thought. Conversely, a few participants did not believe that recent data necessarily signaled a change in the outlook for the economy, but many members thought that downside risks to the economy had increased. On a positive note, most members believed that the fiscal problems in Europe posed a reduced risk to the U.S. economy. In addition, many participants asserted that the downturn in home prices and residential real estate seemed to have ended, although they were uncertain if this was the case. :theflyonthewall.com |
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| theflyonthewall.com: | Citigroup agrees to meet with analyst Mayo amid pressure, Fox Business reports |
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August 30, 2010
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| theflyonthewall.com: | Citigroup volatility of 42 at 25-month lows | | Citigroup is recently down 6c to $3.70. C overall option implied volatility of 42 is below its 26-week average of 49 according to Track Data, suggesting decreasing price movement. :theflyonthewall.com |
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August 27, 2010
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| theflyonthewall.com: | Bernanke says Fed could buy more securities | | The Federal Reserve may buy additional longer-term securities, Fed Chairman Ben Bernanke said in a speech today. However, taking such an action would pose risks, since the central bank is unsure of the exact effects this step may have, Bernanke said. The Fed could also indicate that it is willing to keep interest rates exceptionally low for a longer period than currently anticipated by markets, and it could reduce the interest rate it pays banks for reserves they hold with the Federal Reserve System. As far as the economic outlook is concerned, inflation has dropped to a level below that desired by the Federal Reserve. However, there is a low chance of a further decline in inflation, the Fed chairman added. Private demand and employment in the U.S. economy are increasing, while real household spending is growing at a modest pace. However, lending standards to households are still tight and the housing market remains depressed, Bernanke said. Meanwhile, small firms are having difficulty obtaining credit and the labor market is still disappointing. The recovery has slowed, but, on a positive note, economic growth seems poised to accelerate next year. :theflyonthewall.com |
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| theflyonthewall.com: | Market opens higher ahead of Bernanke speech | | Stock futures climbed after the second quarter GDP numbers beat the market's reduced expectations. The higher futures action led to a higher open for the broader market. Investors will now be looking to the release of the University of Michigan Consumer Confidence reading at 9:55 am ET and Fed Chairman Bernanke's speech on the economy at 10:00am ET. :theflyonthewall.com |
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| theflyonthewall.com: | Futures jump after economic data | | Stock futures rose after the release of the second quarter GDP data. The report showed GDP rose 1.6% for the second quarter versus the expected increase of 1.4%. The report indicated that personal consumption rose 2.0% versus the expected increase of 1.6%. :theflyonthewall.com |
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| theflyonthewall.com: | Golden age of credit cards could be over, WSJ reports | | Issuers of plastic like Citigroup (C) and JP Morgan (JPM) are readying themselves for a less profitable future, faced with new regulations and customers who are spending less on their credit cards, the Wall Street Journal reports. The companies are now looking to figure out how to make money in a business that is getting more costly to operate and that appears to be shrinking. Reference Link :theflyonthewall.com |
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August 26, 2010
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| theflyonthewall.com: | Fed asks for delay of bank data release as it weighs appeal, Bloomberg reports | | The Federal Reserve asked a court to delay an order that would force the central bank to release documents identifying which banks may have failed without aid from the U.S. government during the financial crisis, according to Bloomberg. The Fed said that it is considering appealing the decision to the U.S. Supreme Court. Reference Link :theflyonthewall.com |
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| theflyonthewall.com: | Futures move higher after jobless claims data released | | Stock futures moved higher after the release of the jobless claims reports. Initial jobless claims were 473K versus the expected 490K, while continuing claims were 4.45M versus the expected 4.49M. :theflyonthewall.com |
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| theflyonthewall.com: | Futures quiet ahead of jobless claims report | | Stock futures are trading right around fair value ahead of the weekly jobless claims report. The recent string of domestic economic reports has been dismal and the jobs market has not improved significantly. Analysts are predicting that the report will show 490K initial jobless claims and 4.49M continuing claims. The report is due out at 8:30 am ET. :theflyonthewall.com |
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| theflyonthewall.com: | Obama discusses next steps on economy with advisers, NY Times reports | | President Obama held a long conference call with his economic advisers yesterday amid signs that the nation's economic recovery is stalling, according to the New York Times. The White House said that the participants discussed new steps that could be undertaken to spur the economy. Two of the areas discussed were assistance to small businesses and the extension of tax cuts to the middle class. Reference Link :theflyonthewall.com |
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August 25, 2010
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| theflyonthewall.com: | Options Update; August 25, 2010 | | CBOE Volatility Index-VIX down 62c to 26.85. Option volume leaders today: F BAC CSCO C according to Track Data. :theflyonthewall.com |
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| theflyonthewall.com: | Banks pouring out loans to commodity companies, Bloomberg reports | | Banks have lent $128B to commodity companies this year, including the loan being provided to BHP Billiton ( BHP) to facilitate its attempted purchase of Potash Corp. (POT), according to Bloomberg. The $128B figure is the largest amount of money lent to commodity companies in a single year since 2007, Bloomberg notes. Reference Link :theflyonthewall.com |
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| theflyonthewall.com: | Futures drop following durable goods data | | Stock futures fell after the release of the durable goods orders report. The report showed orders rose 0.3% versus the expected increase of 3.0%. Excluding transportation items, the core reading showed a decline of 3.8% versus the expected increase of 0.5%. :theflyonthewall.com |
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| theflyonthewall.com: | Futures quiet in early trading | | Stock futures are slightly below fair value as the market tries to find level ground after yesterday's sell-off. Investors will receive a host of economic data today including reports on energy inventories, new home sales, durable goods orders and the weekly mortgage applications report. :theflyonthewall.com |
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| theflyonthewall.com: | Eurozone industrial orders increase more than expected in June, NY Times says |
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August 24, 2010
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| theflyonthewall.com: | Active equity option families in first 20-minutes | | Active equity option families in first 20-minutes of trading according to Track Data are; AAPL BAC JPM C. :theflyonthewall.com |
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| theflyonthewall.com: | Market drops after home sales report | | The market opened lower and continued to fall in early trading. Stocks were pushed lower by the existing home sales report, which came in well below expectations. According to the report, there were 3.83M units sold, versus the expected 4.65M units and last month's 5.26M. The decrease represented a drop of 27.2% from the prior month. The market fell to session lows, but has since recovered some of its losses. :theflyonthewall.com |
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| theflyonthewall.com: | Rep. Boehner calls on President to fire Geithner, Summers, Politico says | | Congressman John Boehner, an Ohio Republican and the House Minority Leader, called on President Obama to fire his administration's top economic officials, including Treasury Secretary Timothy Geithner and adviser Larry Summers, according to Politico. Boehner, who would become the Speaker of the House if the GOP wins a majority of that body, said Geithner and Summers have spearheaded a program of "19 months of government-as-community organizer" that hasn't worked. Reference Link :theflyonthewall.com |
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| theflyonthewall.com: | Global recovery concerns lead to lower open | | The futures weakened throughout the pre-market trading session on concerns regarding the pace of the global economic recovery. The poor futures action led to a sharply lower open for the broader market. There has been little positive economic data over the past several weeks and that trend is expected to continue today. The July existing home sales report is due out at 10:00 am ET, and analysts are expecting the report to show that there were 4.65M units sold last month. :theflyonthewall.com |
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| theflyonthewall.com: | Citigroup's consumer delinquency rate surpasses expectations, Bloomberg reports |
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| theflyonthewall.com: | No reason to get too excited about M&A activity, NY Times says | | Although there has been a large amount of M&A activity this month, deal makers on the Street say the M&A market is not exploding, according to the New York Times. In addition, companies are using many of the deals as a way to boost their bottom lines in the absence of strong demand. Reference Link :theflyonthewall.com |
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August 23, 2010
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| theflyonthewall.com: | Market higher but lacks conviction | | The market opened modestly higher and then continued to trade higher for the first 30 minutes of the session. The averages reached their best levels at that point, but then began to drift lower. The market, which seems to lack any real conviction, may have bounced because of the declines last week. The DJIA is up 25 points, the Nasdaq is down two points and the S&P is up three points. :theflyonthewall.com |
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| theflyonthewall.com: | Active equity option families in first 10-minutes | | Active equity option families in first 10-minutes of trading according to Track Data are; PFE POT RIMM C. :theflyonthewall.com |
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| theflyonthewall.com: | Consumer protections for bank overdrafts could be on the way, LA Times reports |
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