STOCK MARKET WATCH, Thursday April 26

[ozymandius]

Source: DU

Thursday April 26, 2007

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 634 LONG DAYS
DAYS SINCE DEMOCRACY DIED (12/12/00) 2307 DAYS
WHERE'S OSAMA BIN-LADEN? 2017 DAYS
DAYS SINCE ENRON COLLAPSE = 1977
Number of Enron Execs in handcuffs = 19
ENRON EXECS CONVICTED = 9
Enron execs conveniently deceased = 3
Other Arrests of Execs = 54

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U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES-----------------------------S&P FUTURES

---

AT THE CLOSING BELL WHEN BUSH TOOK OFFICE on January 22, 2001
Dow - 10,578.24
Nasdaq - 2,757.91
S&P 500 - 1,342.90
Oil - $27.69/bbl
Gold - $266.70/oz.

AT THE CLOSING BELL ON April 25, 2007

Dow... 13,089.89 +135.95 (+1.05%)
Nasdaq... 2,547.89 +23.35 (+0.92%)
S&P 500... 1,495.42 +15.01 (+1.01%)
Gold future... 687.40 -0.30 (-0.04%)
30-Year Bond 4.83% +0.03 (+0.54%)
10-Yr Bond... 4.65% +0.02 (+0.52%)






GOLD, EURO, YEN, Loonie and Silver

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PIEHOLE ALERT

Heads Up!
Preliminary info on appearances by Bush & Co. throughout the country. Details & links are added as they become available so check back. And if you know more, are organizing something, or would like to, contact [email protected]

For information on protests and other actions Citizens For Legitimate Government

---

Read more: DU

[ozymandius]

1. Today's Market WrapUp

Who's Carrying the Economic Baton?
Part II - The Consumer?
BY CHRIS PUPLAVA

Last week's WrapUp looked at the corporate sector as the possible pillar underpinning the U.S. economy. The data presented showed businesses retiring stock and slowing capital investment domestically, while some corporations are actually increasing foreign capital investment. The data presented showed the corporate sector is clearly not holding the economy afloat on a rate of change basis.

Looking at the corporate and employee segments reveals a possible shift in trend, with corporate profits as a percentage of national income at the highest levels in over 50 years, clearly closer to a top then a bottom. Conversely, employee compensation as a percent of national income is at its lowest level in more than three decades and appears to be turning up at the same time the corporate share appears to be peaking.

-chart-

When looking at both corporate and employee compensation on a rate of change basis (year-over-year, YOY), corporate profits are also seen to be near cyclical highs of 30% while employee compensation is still playing catch-up, displaying a rising trend, though far from the cyclical peak typically seen near a 12% YOY rate.

-cut-

This indicates that the rising income level of employees has not been enough to compensate for the negative wealth affect from the housing market to prop up retail sales. Retail sales and home appreciation display close directional similarity as seen by the figure below. The sharp drop in housing prices as seen by the median sales price for single-family homes is clearly having a delayed spill over effect in retail sales as consumers are extracting less equity from their homes, leading to less money funneling into the economy.

http://www.financialsense.com/Market/wrapup.htm

[happygoluckytoyou]

38. BETTER OFF? then vote republican

all those not doing better, vote democrat
all those doing better, vote republican

(all those who think they are doing better but are really only 2 rent payments from the streets shut up)

taxes, the redistribution of wealth, should be attractive to all of those who are not wealthy (even those of you who got a title upgrade at work in lieu of a raise this year)

the greatest lie the devil ever told was to convince people that he did not really exist

the greatest lie the republican party ever told was to convince christians that the GOP really gives a shit about them

[ozymandius]

2. Today's Reports

8:30 AM Initial Claims 04/21
Briefing Forecast 325K
Market Expects 330K
Prior 339K

10:00 AM Help-Wanted Index Mar
Briefing Forecast 31
Market Expects 31
Prior 31

http://biz.yahoo.com/c/e.html

[UpInArms]

9. Initial Claims in @ 321,000 (to be rev'd up next week?)

just as the buck needed, they print out that 320 range number :eyes:

01. U.S. 4-wk. avg. continuing jobless claims rise to 2.53 mln
8:30 AM ET, Apr 26, 2007 - 38 seconds ago

02. U.S. continuing jobless claims up 65,000 to 2.59 million
8:30 AM ET, Apr 26, 2007 - 38 seconds ago

03. U.S. 4-wk. avg. initial jobless claims up 2,750 to 332,000
8:30 AM ET, Apr 26, 2007 - 38 seconds ago

04. U.S. weekly initial jobless claims fall 20,000 to 321,000
8:30 AM ET, Apr 26, 2007 - 38 seconds ago

I do believe that I have officially become so skeptical that I don't believe a single report they file anymore. :shrug:

[AnneD]

22. UIA....

I have gotten SO cynical that I wait for the 'revisions' to get the most accurate count.

[UpInArms]

25. I agree - but then I seem to wait to see if the revisions are revised

secretly and in the dead of night when no one is watching - with bits of truth so obscured that only the strongest of radars picks out the movement.

:sigh:

[AnneD]

27. True

so true. And we are considered the conspiracy theorist nuts.

[UpInArms]

23. U.S. newspaper help-wanted ads fall in March to 30

http://www.reuters.com/article/bondsNews/idUSNAT00263420070426

NEW YORK, April 26 (Reuters) - The number of help-wanted ads in U.S. newspapers declined in March, a private research group said on Thursday.

The Conference Board said its gauge measuring help-wanted ad volume in the United States slid to 30 in March from 31 in February. It stood at 37 a year ago.

"The relatively modest ad volume now could be a signal that job growth may be modest (not more than 130,000 per month) this summer," said Ken Goldstein, labor economist at the Conference Board, in a statement.

Help-wanted ads declined in eight of nine U.S. regions in the last three months, with the largest falls in the East South Central, South Atlantic and East North Central regions, the Conference Board said. Ads in the East South Central region fell 22.6 percent.

...more...

[AnneD]

28. Now I am going to be contrarian here....

but this is fast becoming an obsolete indicator. On line ads are the best way these days but multiple posting make it iffy but more accurate (they can be indexed or something). Newspapers are losing classified ad revenue overall and this may become very inaccurate.

[loudsue]

33. That's mostly true, AnneD. But quite often, the people who get their jobs

from newspaper ads, can't afford a computer, or don't have access or don't know how to use one.

Many of the jobs in the newspaper are lower-end jobs. People these days who are on the lowest end of the job totem pole are pretty innocent about how the American dream has become a nightmare. They're still looking for those "management training" jobs that don't ever materialize into "management".

:kick:

[ozymandius]

3. Oil prices hover near $66 a barrel

SINGAPORE - Oil prices were steady Thursday after rising in the previous session on a midweek U.S. fuel supplies report that showed a large, unexpected drop in gasoline stockpiles and a fall in refinery utilization.

Light, sweet crude for June delivery fell 3 cents to $65.81 a barrel in Asian electronic trading on the New York Mercantile Exchange mid-afternoon in Singapore. The contract on Wednesday gained $1.26 to settle at $65.84 a barrel.

Brent fell 4 cents to $68.53 a barrel on the ICE Futures exchange in London.

U.S. gasoline stocks have fallen in recent weeks in part because of low production by refiners, which continued to report trouble. Refinery utilization dropped 2.6 percent, Wednesday's U.S. Department of Energy's petroleum supply report showed.

http://news.yahoo.com/s/ap/oil_prices

[Ghost Dog]

17. China's CNOOC Q1 oil, gas output up 5.1 pct

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070426:MTFH92413_2007-04-26_08-58-47_HKG11679&type=comktNews&rpc=44

HONG KONG, April 26 (Reuters) - China's top offshore oil and gas producer, CNOOC Ltd. (0883.HK: Quote, Profile , Research) (CEO.N: Quote, Profile , Research), produced 5.1 percent more oil and gas in the first quarter while revenue fell 10.9 percent on falling oil prices.

CNOOC, which is engineering a string of acquisitions from Australia to Indonesia to Nigeria, is scouring the globe for more and developing deepwater exploration to supply China, the world's largest oil consumer after the United States.

CNOOC said in a statement on Thursday that its overall oil and gas output rose to 473,280 barrels of oil equivalent per day in the January to March period.

Net natural gas output jumped 41.1 percent to 550 million cubic feet per day in January to March, mainly because of production from the North West Shelf project in Australia and the Southeast Sumatra project in Indonesia, it said.

CNOOC said in January it planned to hold energy output steady in 2007 at 162 million to 170 million barrels of oil equivalent (boe), after its energy production rose 7.9 percent last year despite severe disruptions.

CNOOC hoped to produce more than 190 million boe annually by 2008.

CNOOC -- part of a Chinese oil triumvirate also encompassing PetroChina (0857.HK: Quote, Profile , Research) (PTR.N: Quote, Profile , Research) and Sinopec Corp. (0386.HK: Quote, Profile , Research) (SNP.N: Quote, Profile , Research) (600028.SS: Quote, Profile , Research) -- said its average oil selling price was US$52.45 per barrel in the quarter, compared with US$58.13 per barrel in the year-earlier period.

/...

[cosmicdot]

45. wonder if Kissinger is still an advisor to CNOOC

in 2001, just as Bu$h began clearing brush, Henry the Traitor joined CNOOC's international advisory board ... a board which includes a managing director of Hutchison Whampoa, the Chinese company Bu$h awarded a no-bid contract for detecting nuclear materials inside cargo passing through the Bahamas ... the first time a foreign company has run a U.S. radiation detector at an overseas port without American customs agents present, 65 miles from the U.S. coast. Homeland Security!

http://english.people.com.cn/english/200110/29/eng20011029_83454.html
http://www.sourcewatch.org/index.php?title=Hutchison_Whampoa_Ltd.#DP_World_Redux.3F

[AnneD]

21. Morning Marketeers.....

:donut: and lurkers. News, I got your news right here.

I'm kicking myself in the pants for not putting gas in my car last night. I just knew it would go up this am after the report of supply levels-and it did by a nickle. The absolute cheapest gas in town is $2.69. I know that won't garner much sympathy-but we have to live with the refineries and deal with the environment issues and safety concerns that causes. I figure we should get a break of sorts.

Bill Moyer's return. Wow. He tattooed that ball straight out of the park for a grand slam. But my greatest concern is that it is not just the Iraq war that the press has fallen asleep at the wheel on. I have to dig around and locate sources to get news. I owe that to this country in order to be an informed citizen. If I have to do this on my own, then what in the hell is the press doing. They were given rights and privileges that I cannot hope to have for just that reason. Why in the hell am I having to do their damn job:mad: I didn't have the expense check, the salary, or the contacts some of these guy did, yet I was able to ascertain from day one that this whole Iraq war was a snow job and the Bush administration war lying. The only benefit I get out of it is that I sleep better at night knowing that I did what I could do to protest it from the start and I am still working for it's conclusion. There were more red flags thrown that an Oakland football game-where was the press. ON EVERY SINGLE ISSUE INVOLVING THIS ADMINISTRATION-THE PRESS HAS BEEN ASLEEP AT THE WHEEL. THEY HAVE FORSAKEN THEIR DUTY. TO HELL WITH MOST OF THEM. They no longer have my respect. I hope their cooperate owners loose their shirts. The difference between Nixon and Bush has been a sleeping press.

Lastly, I had breakfast at my favourite place. I got to sit next to the local police. Cops and Nurses go together like salt and pepper. Cops and Nurses tell the best stories, deal with the same 'cream' of society at times, work weird hours, earn less than they are worth, need assistance in getting affordable housing in most housing markets, and realize the fragility of life. I felt at home. We laughed and swapped stories. But the best part....the Bush jokes. I can't repeat them-but they were raunchy and great. I had tears in my eyes and sore sides. Hope I get a few more days like that.

Happy hunting and watch out for the bears.

[DemReadingDU]

30. My son is a cop and his wife is a nurse

They do have the strangest, and funniest, stories to tell!

Bill Moyers had a great segment on TV. I know from reading the Internets that the MSM is still sleeping. Many scandals are breaking out all over the Bush administration that we can read on The Google. The scandals aren't being told on the TV, and people don't hear them or see them. But everyone knows about Sanjaya. :(

[AnneD]

36. It's one of those strange but true facts....

Medical folks move mountains for kids, cops, and fire fighters. We will code longer and take more heroic measures. Maybe it is just our nature-we know what it is like to be on the front lines. They get extra TLC too. Ask your son if he will give a Nurse a ticket or a warning. Most will give a warning because they don't want to wind up in that Nurse's ER (and it has happened before). We look out for each other. ;)

FYI, did you know that 19 of those first responding firefighter at the WTC were Nurses. They were, but you never hear about that.

About the special...sometimes, I think we don't deserve democracy. We may not know what we got til it's gone.

[ozymandius]

4. Wall St set for firmer start, Microsoft, Ford eyed

FRANKFURT (Reuters) - U.S. shares looked set for a firmer start on Thursday after the Dow hit an all-time high in the previous session and with earnings updates from U.S. heavyweights Mircosoft (Nasdaq:MSFT - news) and Ford (NYSE:F - news) on the agenda.

June Dow Jones futures were up 0.06 percent, while S&P June futures were up 0.05 percent and Nasdaq 100 futures were up 0.37 percent.

"I think that we can gain further and reach new highs today, because there is little on the macro agenda and a good deal of scheduled earnings," Lutz Roehmeyer, fund manager at LBB Invest, said.

Companies to report on Thursday include Microsoft, Ford Motors, ExxonMobil (NYSE:XOM - news), Bristol-Myers (NYSE:BMY - news), Halliburton (NYSE:HAL - news), the leading U.S. cable operator Comcast (Nasdaq:CMCSA - news), the largest U.S mortgage lender Countrywide Financial CFC.N>, Dow Chemical (NYSE:DOW - news), Aetna (NYSE:AET - news) and Cardinal Health (NYSE:CAH - news).

http://news.yahoo.com/s/nm/20070426/bs_nm/markets_stocks_us_europe_dc

[ozymandius]

7. Ford Loss Narrows to $282 Million on Gains in Europe (Update1)

April 26 (Bloomberg) -- Ford Motor Co., the second-biggest U.S. automaker, said its first-quarter loss narrowed to $282 million as rising profit in Europe partially offset increased losses in North America.

The net loss of 15 cents a share compared with a loss of $1.42 billion, or 76 cents, in last year's first quarter, Ford said in a statement distributed today at its Dearborn, Michigan, headquarters.

The reduced loss brings Ford closer to its goal of returning to profitability in 2009 following a record $12.7 billion deficit last year. The automaker's turnaround efforts are focused primarily on its North American auto operations, the main source of losses.

-cut-

Excluding costs the company considers one-time expenses, the deficit was $171 million, or 9 cents. On that basis, Ford was expected to report a loss of 60 cents a share, the average estimate of 14 analysts surveyed by Bloomberg.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aotbVpIdeZE0&refer=home

[ozymandius]

5. Nissan's 1Q profit plunges 54 percent

TOKYO - Nissan marked its first drop in annual profit in seven years on Thursday, the first such setback under the leadership of Carlos Ghosn, who salvaged the Japanese automaker from collapse. He also acknowledged Nissan would need an extra year to meet a key production target.

The big problem at Japan's No. 3 automaker, which makes Infiniti luxury models, Altima sedans and Z sportscars, has been faltering sales in important markets at a time when offerings from Japanese rivals Toyota Motor Corp. and Honda Motor Co. are hot-sellers.

Higher raw material costs, incentives — discounts to woo buyers — and a lack of new models hurt Nissan's performance, Nissan Chief Executive Ghosn told reporters.

http://news.yahoo.com/s/ap/20070426/ap_on_bi_ge/earns_japan_nissan

[ozymandius]

6. Apple profit surges on MacBook and iPod sales

SAN FRANCISCO (Reuters) - Apple Inc. (Nasdaq:AAPL - news) said on Wednesday quarterly profit soared 88 percent on lower component costs and sales of MacBook laptops and iPod digital media players, lifting its shares by 8 percent to above $100 for the first time.

The results, which trounced Wall Street expectations, came as Apple's board threw its support behind Chief Executive
Steve Jobs, after the company's former chief financial officer linked him to the handling of backdated stock options.

The vote of confidence from directors included former U.S. Vice President Al Gore and Google Inc. (Nasdaq:GOOG - news) CEO Eric Schmidt. Jobs, 52, co-founded Apple in 1976 and has been the driving force behind its turnaround in recent years.

Net income for the fiscal second quarter jumped to $770 million, or 87 cents per share, from $410 million, or 47 cents per share. That beat by far Apple's own forecast, which tends to be cautious, of 54 cents to 56 cents, as well as the average analyst forecast of 63 cents according to Reuters Estimates.

http://news.yahoo.com/s/nm/20070426/bs_nm/apple_results_dc

[UpInArms]

8. dollar watch

http://quotes.ino.com/chart/?s=NYBOT_DX&v=i

Last trade 81.617 Change +0.171 (+0.21%)

Dollar Still Can't Find Its Pace With Durables Boost, GDP Pressure Builds

http://www.dailyfx.com/story/currency/eur_news/Dollar_Still_Can_t_Find_Its_1177523936248.html

Like a mirror of yesterday’s economic calendar, Wednesday’s docket printed nothing but strong indicators – and yet the dollar was still pinned to its major support levels. If a strong durable goods report or substantial drop in existing home sales can’t move the greenback from its relatively small ranges against the other G7 currencies, then Friday’s GDP number could very well be the trigger that defines a new trend.

In the interim, price action in the majors is butting right up to major technical levels. In an anticlimactic move, EURUSD moved a few points above its all-time high to 1.3669, though a lack of conviction quickly found the pair falling back. At the same time, USDCHF skipped along support around 1.20, with a move to 1.2060 the only evidence that there are two sides to the market. Even the carry trade looks as if is on hold with USDJPY keeping its 118.25-119 range well intact. For GBPUSD, the disappointing US data from yesterday helped push the pair up to 2.0065, though there was no momentum as a double top formed initial resistance.

Though today’s fundamental offerings didn’t translate into the gratifying short-term bursts in price action that usually draws speculators, they did add to the debate of whether the US economy is heading towards a soft landing or recession. The key release for the morning was the Commerce Department’s Durable Goods report for March. Headline bookings for goods that last three years or more grew 3.4 percent - more than expected. Optimism after the release was dampened somewhat when the transport complex was excluded from the calculation, leaving 1.5 percent growth for the month. By historical standards, the rise in orders was the largest in three months, but hardly a runaway advance. On the other hand, the component data was a little more promising for the economy. Non-defense capital goods orders excluding aircraft (an indicator of future business investment) rose 4.7 percent. This was the only increase for the quarter suggesting capital investment will not add to growth through the first three months of the year, though it may cue a rebound for the second quarter.

While investment isn’t looking to contribute much to growth, housing is still expected to be a considerable detractor – despite today’s data. This morning, March new home sales crossed the wires with a 2.6 percent increase to 858,000 units. This was the first improvement in three months, though it fell short of expectations and was easily dwarfed by the previous two monthly contractions. What’s more, the improvement is most likely linked to weather trends. After a month of much colder-than-average temperatures, the pickup through March drew potential buyers out into the market. While this is clearly important for month to month sales and construction activity, it is also a temporary and volatile condition. When the weather is no longer a factor, the bigger trend will be laid bare. As has been seen in recent numbers, this will likely be guided by increased requirements and regulations for loans and the slow decline in housing prices. In fact, the average price for new home sales actually rose $3,200 from February to $254,000 while year-over-year inflation accelerated to a 6.4 percent pace. Mortgage applications numbers are already adding credence to this outlook. The MBA’s report printed the first increase in loan filings six weeks over the period ending April 20th. If this indicator cannot sustain a reliable rebound, there is little hope for sales and construction in the months ahead.

...more...

Dollar Rebounds from All Time Lows

http://www.dailyfx.com/story/dailyfx_reports/daily_brief/Dollar_Rebounds_from_All_Time_1177585571732.html

Amidst a very quiet night on the economic calendar, the dollar staged a rebound against all the majors mainly on some profit taking after the EURUSD tagged all time all time highs of 1.3666 in New York trade. Yesterday’s US data was mildly bullish as Durable Goods increased after two straight months of declines while New Home Sales also registered a small uptick. The news provided just the right amount of relief for dollar longs to stall euro’ s relentless advance as it suggested that the US economy was not in any immediate danger of tipping into a recession.

However, it remains be seen if the latest dollar rally is nothing more than just a pause that refreshes on the way to new highs at 1.3700 and perhaps even 1.400. Certainly, the data from the Euro-zone remains euro positive as both business and consumer confidence surveys continue to show improvement. The GFK Consumer survey for May increased to 5.5 from 4.7 projected while French Business confidence improved to 111 from 109.

While the latest Euro-zone data confirms the expansionary scenario for that region, the forecast for US economy is decidedly more murky. We have long argued that employment remains the absolute key to any dollar bullish argument going forward and to that end the weekly jobless claims numbers have taken on a much greater significance for the market this month as they have disconcertingly climbed higher from the 320K level to the 340K level in the past two releases. Therefore, today’s print may generate more volatility in the pair than usual if it once again produces a reading north of 340K. On the other hand, a drop back into the 310-320K would allay the concerns of a slowdown and the greenback may be able to extend its snapback rally further.

In Japan, the yen continued to weaken ahead of tomorrow’s busy Japanese economic calendar which includes CPI and household spending data. The market expects inflation gauges to slip back into negative territory reaffirming BOJ neutral stance and leaving yen vulnerable to more carry trade flows. However, the macro economic picture in Japan continues to show positive momentum with Household spending expected to register a positive reading for the third month in a row while the job- to employment ratio is forecast to remain comfortably above 1 at 1.05. Under the current circumstances the greatest impediment to yen strength is not any intrinsic weakness in the Japan’s economy but rather the incredible sense of complacency by global equity investors as the DJIA continues to make record highs. Should that sentiment change, the direction in USDJPY will most likely change as well.

...more...

[Ghost Dog]

10. Dollar rallies broadly as selling fatigue sets in

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070426:MTFH94796_2007-04-26_10-31-28_L26681559&type=comktNews&rpc=44

LONDON, April 26 (Reuters) - The dollar strengthened broadly on Thursday as dealers, frustrated at the euro's failure to reach a fresh new record high against the greenback, bought the U.S. currency back across the board.

Traders reported no obvious trigger for the move, and instead pointed to factors such as the euro stalling ahead of $1.3670, the dollar's break of technical resistance against the yen, the sharp slide in the New Zealand dollar and general profit-taking ahead of the weekend. The dollar had sunk to multi-year lows on Wednesday as investors grew increasingly gloomy on the U.S. economic outlook, in contrast to the more buoyant economic prospects in the euro zone and elsewhere.

Broad-based optimism on the euro zone economy and expectations of higher interest rates lifted the euro to a fresh peak against the yen. But traders let up on the dollar selling, paving the way for a relief rally led in large part by heavy selling of the New Zealand dollar.

"The Kiwi is leading this. That was the first to go .. but it's broad dollar buying. We're not making new tops (in the euro), so it's just coming off. People are getting a bit fed up, it's the end of the week so we're seeing a bit of profit taking," said a trader in London.

/...

[Ghost Dog]

18. HK dollar slips to near 22-year low against greenback

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070426:MTFH94573_2007-04-26_10-23-49_HKG162918&type=comktNews&rpc=44

HONG KONG, April 26 (Reuters) - The Hong Kong dollar hit its lowest level in almost 22 years on Thursday, undermined by strong corporate demand for the U.S. currency.

The Hong Kong dollar <HKD=> stood at 7.8211/12 to the U.S. dollar at 1011 GMT, the lowest level since September 1985, according to the Hong Kong Monetary Authority.

On Thursday, it ended local trading at 7.8174/75.

"We've heard some outright purchases in the spot exchange rate with the two- and three-month forwards from a house name in recent days," said a senior trader at a local bank.

Another dealer at a European bank said there was some follow-through dollar buying after the (USD/HKD) spot rate broke the key 7.8180 in London trade overnight. The demand might have related to the IPOs repatriation.

The local currency has been under selling pressure as some newly listed companies switched proceeds raised from Hong Kong IPOs into foreign currencies.

The Hong Kong dollar is pegged at 7.80 to the U.S. dollar but can trade between 7.75 and 7.85.

/..

[Ghost Dog]

31. Strong corporate demand for the U.S. currency. In Hong Kong.

I'm still trying to work out what that might mean. :huh:

And, 'they' appear to be selling gold and silver and other currencies to buy USD today. Hmm. (What are they thinking that we¡re not?)...

And also:

[Ghost Dog]

20. (Russia) Central Bank Adds Redundantly to the Ruble

http://www.engl.fis.ru/news/?nid=20634

MOSCOW, April 26. /FIS/. Central Bank does not exclude that the strengthening of the ruble against the basket of currencies may reach 10% next year. As announced by Finance Minister Alexey Kudrin, in the project of the Bank of Russia submitted to the Finance Ministry 'The main courses of monetary and credit policy for 2008' strengthening of the ruble is indicated in the range between 0% and 10%.' Such a wide range, analysts believe, is due to the Central Bank's willingness to avoid the responsibility for possible hikes of inflation and ruble exchange rate in 2008.

[Ghost Dog]

11. Asian Stocks Rise Most in a Week; Honda, ICBC Gain on Earnings

http://www.bloomberg.com/apps/news?pid=20601080&sid=ai1JC2JZde2M&refer=asia

April 26 (Bloomberg) -- Asian stocks rose the most in a week after companies including Honda Motor Co. reported earnings that beat analysts' estimates, and higher oil and metals prices lifted commodities producers.

Honda climbed the most in three weeks and Shenzhen Development Bank Co. jumped after the lender said net income more than doubled in the first quarter. BHP Billiton Ltd., the world's biggest mining company and Australia's largest oil producer, climbed for a fourth day.

Eight of the 10 industry groups included in the Morgan Stanley Capital International Asia-Pacific Index advanced, with measures of materials and energy stocks posting the strongest gains. Benchmarks in China, Indonesia and South Korea reached records.

``Earnings so far have been OK and we're still quite positive,'' said Teo Chon Kiat, who helps manage about $8 billion at DBS Asset Management Ltd. in Singapore. ``Oil prices are likely to stay high and prices for some metals should continue to face upward pressure thanks to strong demand.''

Steelmakers led gains in Japan, where the Nikkei 225 Stock Average rose 1.1 percent, after JFE Holdings Inc. forecast a record operating profit for the current financial year. Hon Hai Precision Industry Co. and Taiwan Semiconductor Manufacturing Co. drove Taiwan's key stock index higher after U.S.-based clients Apple Inc. and Qualcomm Inc. reported increases in profit.

The MSCI climbed 0.5 percent to 147.55 as of 6:23 p.m. in Tokyo, set for its biggest gain since April 18. Indexes rose across the region, with the exception of India. Malaysia's market was shut for the coronation of a new king.

/...

[Ghost Dog]

12. Japanese Stocks Climb; Dollar Up vs. Yen

http://asia.news.yahoo.com/070426/ap/d8oo6pro0.html

Japanese stocks rose Thursday on strong gains by blue-chip exporters like Canon and Nissan as investors were heartened by Wall Street's overnight rally.

The benchmark Nikkei 225 index gained 193.01 points, or 1.12 percent, to finish at 17,429.17 points on the Tokyo Stock Exchange, nearly recouping Wednesday's 1.24 percent drop.

Despite the Nikkei index's rebound, investors remained cautious about the outlook for the market ahead of more earnings reports due in coming weeks.

Investors aren't very optimistic about Japanese companies' earnings projections, though they expect their profits to continue growing this fiscal year. They expect many companies to be cautious in their earnings forecasts due to unclear outlooks for foreign exchange rates and the U.S. economy.

Electronics, auto and steel shares led the way following Wall Street's overnight advance. Gainers included Canon Inc., which rose 1.49 percent to 6,810 yen ($57.23), Nissan Motor Co., which added 1.93 percent to 1,216 yen ($10.22) and Toshiba Corp., which climbed 0.90 percent to 896 yen ($7.53).

Nippon Steel Corp. jumped 5.23 percent to 785 yen ($6.60).

The broader Topix index, which includes all shares on the Tokyo exchange's first section, rose 16.07 points, or 0.95 percent, to 1,703.41. The Topix lost 1.10 percent the previous day.

/...

[Ghost Dog]

19. Boost output to deal with overheating, India told

http://www.expressindia.com/fullstory.php?newsid=85528

New Delhi, April 26: India needs structural reforms to boost productive capacity so that demand is met and inflation is checked in order to address the growing signs of overheating in the economy, says says global rating agency Moody's.

...

Moody's pointed out the current signs of overheating in the economy include higher-than-acceptable inflation, growing merchandise trade deficit, still-high rates of domestic credit growth and the rapid rupee appreciation mainly driven by strong capital account inflows.

/..

[Ghost Dog]

13. France Business Confidence Improves In April

http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20070426\ACQRTT200704260611RTTRADERUSEQUITY_0290.htm
&selected=9999&selecteddisplaysymbol=9999&StoryTargetFrame=_top&mkt=WORLD
&chk=unchecked&lang=&link=&headlinereturnpage=http://www.international.nasd

(RTTNews) - French business confidence indicator improved to 111 in April, the Monthly Business survey of the Insee showed Thursday. The indicator climbed from 109 recorded last month. Economists expected the indicator reading to remain stable at 109.

The index for the general outlook on production stood at nine versus minus two last month. The indicator showing the personal outlook on production came in at 14, slightly larger than 13 in March. The metric indicating past changes in output rose to 21 from 14 last month.

[Ghost Dog]

14. Spain Mar. Retail Sales Grow 5.7% On Year

http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20070426\ACQRTT200704260555RTTRADERUSEQUITY_0279.htm
&selected=9999&selecteddisplaysymbol=9999&StoryTargetFrame=_top&mkt=WORLD
&chk=unchecked&lang=&link=&headlinereturnpage=http://www.international.nasd

(RTTNews) - Spanish retail sales improved 5.7% annually in March, the statistical office said Thursday. Sale of food products increased 4.5% and non-food sales rose 6.4%. The retail trade index gained calendar adjusted 5.5%. Retail sales of personal goods registered an annual growth of 7.2% and sales of furniture and household equipment expanded 4.4%.

[Ghost Dog]

15. Elderly bear the brunt as (UK) inflation creeps up

http://investing.reuters.co.uk/news/articleinvesting.aspx?rpc=401&type=savingAndLoansNews&storyID=2007-04-26T101525Z_01_NOA636779_RTRUKOC_0_CITYWIRE-INFLATION.xml

LONDON (Citywire) - The elderly have been particularly badly hit by recent increases in inflation, according to research by Alliance Trust.

Headline inflation reached its highest level since 1997 in March rising to 3.1 percent, which is significantly higher than the government's inflation target for the Bank of England at 2 percent.

And in the same month inflation for the over seventy-fives jumped to record levels from 4.5 percent to 4.7 percent. The Alliance Trust Research Centre (ATRC) also found that inflation for the over seventy-fives has been consistently above 3 percent since May 2006.

Those between the ages of 65 and 75 experienced the second highest rate of inflation at 3.6 percent.

Elsewhere households in the lowest income bracket faced an inflation increase from 4.1 percent to 4.3 percent.

The increases in the cost of living across these two groups were largely a result of gas price inflation of 34 percent, electricity price inflation of 23 percent and food price inflation of around 6 percent, according to the ATRC. These were found to be the goods and services that the elderly and low income households spend most of their income on.

/..

[AnneD]

29. This may be our future

fellow Boomers. How many of you remember the stories of these little old ladies eating canned cat food before the COLA's were added to Social Security.

[Ghost Dog]

32. Be aware that 'gas' in the UK means natural gas

(widely used for cooking & heating). What is called gas (ie gasoline) in the US ('petrol' in the UK) is seldom a large factor in the average UK pensioner's life where public transport (and local shops and services) are usually vital.

But yes, you're right, AnneD: 'Pensioners' have been up to now easy for governments to screw. It's a cultural thing (Moslem families, for example, tend to look after and respect the old). Western governments appear to believe they get more useful votes out of mollycoddling younger folks.

[AnneD]

37. Not in this country.....

older folks vote in greater numbers here. I can't tell you how many folks I drive to the polls. Just the letters AARP is enough to get politicians attention. We grow 'em feisty around here. HEHEHEHEHEHEHE

Edited to add...I remember the petrol and air drying the laundry. Thanks for the pleasant reminders of Brighton, GD.

[Ghost Dog]

40. Well done. Go for it. Getting increasingly radical over here too! n/t

[AnneD]

44. I seem to remember....

world wide protests years ago. Guess they forgot what age group marched. They worry about chemical war fare-wait til we hit them with our depends. When you have nothing to lose-you can be most dangerous. Besides, I have a teenager-I know no fear and I have already lost my mind.

[Ghost Dog]

16. European shares rally early (morning) on Wall St, results

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070426:MTFH91877_2007-04-26_08-37-06_L26588467&type=comktNews&rpc=44

LONDON, April 26 (Reuters) - European shares rose on Thursday as investors took heart from strong corporate earnings and merger activity, especially after a robust rally on Wall Street.

The takeover battle for Dutch bank ABN AMRO (AAH.AS: Quote, Profile , Research) heated up after it said it would allow a trio of banks led by Royal Bank of Scotland <RBS.L.> access to its books, following the group's 72 billion-euro ($98 billion) bid.

On the earnings front, Swiss engineering group ABB (ABBN.VX: Quote, Profile , Research) said first-quarter net profit more than doubled to $537 million, sending its shares up 4.8 percent to make it the top gainer on the broader European market.

Earnings generally beat market expectations and helped dispel some of the nagging concern the slowing U.S. economy could erode European corporate growth prospects.

"Earnings 'good news' is still winning out over interest-rate 'bad news'," said Bernard McAllinden, an equity strategist for NCB Stockbrokers in Dublin.

"The centre of it really is a reassuring Q1 in the U.S. earnings reporting season, that is the big underlying (theme) going on here."

The pan-European FTSEurofirst 300 index <.FTEU3> rose 0.6 percent to 1,583.18 points, having hit a session peak of 1,585.09 points, its highest since Dec. 14 2000.

/...

[Ghost Dog]

41. European equities lifted by strong earnings

http://mwprices.ft.com/custom/ft2-com/html-story.asp?pulse=true&siteid=ft&dist=ft&guid=%7B3eb0912c%2D1036%2D4995%2D97dc%2Dd4402cad2252%7D

European equities were higher on Thursday, thanks to strong first-quarter earnings, while overnight rises in petrol prices and planned European strikes helped lift oil refiners. Swiss engineering group ABB topped the leaderboard, climbing 5 per cent to SFr24.30 after its first-quarter net profit more than doubled on soaring demand for power generating infrastructure. Dresdner Kleinwort upgraded ABB from ”hold” to ”buy” after its ”blow out” earnings that topped market forcasts by 18 per cent. ABB said its mid-term targets were likely to be raised at its next strategic review. By the end of trading, the FTSE Eurofirst 300 was up 0.1 per cent to 1,575.89, Frankfurt’s Xetra Dax added 0.6 per cent to 7,387.02, the CAC 40 in Paris gave up 0.1 per cent to 5,944.44 and London’s FTSE 100 rose 0.1 per cent to 6,469.4.

[mojavekid]

24. Forbes: Gold turns lower as dollar stages modest rally against euro

http://www.forbes.com/business/feeds/afx/2007/04/26/afx3655581.html

LONDON (Thomson Financial) - Gold turned lower as the dollar staged a modest rally against the euro and as sentiment remained cautious after the metal failed to break resistance levels ahead of the key 700 usd mark.

'General sentiment does appear somewhat weaker today and there is an inverse correlation with the dollar. Obviously the dollar's not the only driver but a rallying dollar is in itself bearish,' said Numis analyst Simon Toyne.

The dollar recovered from fresh two-year lows against the euro yesterday. US data out earlier showed the number of people filing new claims for unemployment insurance fell more than expected last week.

Although the data dampened speculation the US Federal Reserve will lower interest rates at some point this year, most analysts still believe the outlook for the greenback is poor.

Gold is a popular alternative investment to the dollar and typically moves in an inverse relationship to it.

At 1.47 pm, spot gold was quoted at 675.98 usd per ounce, up from the 683.50 usd level seen in late New York trade yesterday.

Gold has gained in recent weeks on continued weakness in the US currency, but the metal has struggled this week to break key resistance ahead of the 700 usd mark.

This has led to fears bullion may correct lower before another assault on the 700 usd level is possible.

'Gold has repeatedly found it difficult to break past the 695 usd area of resistance,' said analyst Jon Nadler at Kitco Bullion Dealers.

'Thus, at this point in time, a visit to perhaps the 675 usd value zone is more of a possibility that the much-vaunted 'imminent' rise to 700 usd per ounce,' he added.

Among other precious metals, silver was down at 13.43 usd against 13.75 usd in late New York trades yesterday.

Platinum fell to 1,293 usd from 1,303 usd, while palladium was down at 368 usd from 377 usd.

end...

[UpInArms]

26. Countrywide profit falls 37 pct, forecast cut

http://www.reuters.com/articlePrint?articleId=USN2638007220070426

NEW YORK, April 26 (Reuters) - Countrywide Financial Corp. (CFC.N: Quote, Profile, Research) on Thursday said first-quarter profit fell 37 percent and cut its 2007 earnings forecast, reflecting difficulties for the largest U.S. mortgage lender in a weakened housing market.

Net income for the Calabasas, California-based company fell to $434 million, or 72 cents per share, from $683.5 million, or $1.10 per share, a year earlier. Revenue fell 15 percent to $2.41 billion.

<snip>

"Turbulent mortgage market conditions had an adverse impact on the company's first quarter," Chief Executive Angelo Mozilo said in a statement.

Mozilo said results were hurt by charges related to Countrywide's "subprime" loan operations, and higher amounts set aside for credit losses "stemming from higher delinquencies and softer housing markets."

...more...

[mojavekid]

34. Daily Pfennig 4/26/07: Roller Coaster Ride for the US$

http://www.kitcocasey.com/displayArticle.php?id=1349

Good day... The dollar rallied for a short period yesterday after reports showed durable goods orders rose more than forecast last month and sales of new homes increased. But the rally didn't last long as traders shifted their focus to tomorrow's GDP numbers, which will likely show the slowdown in the U.S. economy continued in the first quarter. This morning, Europe decided yesterday's U.S. data combined with an expected decrease in today's weekly U.S. unemployment figures were good enough for the Fed to go ahead and move rates up, so the dollar has rallied back. The yen has been the big mover overnight as it moved back above 119, more on that later.

Yesterday morning started out positive for the US$ as durable goods orders rose more than forecast during March. The 3.4% rise in orders was mainly due to an increase in orders for aircraft from Boeing. New home sales advanced 2.6% following a 4.2% drop in February, but this increase was actually less than expected and last month's figures were revised down. With the currency markets pushing the dollar down, these positive numbers weren't strong enough to keep the dollar strong and the greenback quickly reversed its initial rally to close last night very near its all-time low vs. the euro.

Currency traders are now focusing on today's weekly unemployment data, which will probably show a decrease in the number of initial jobless claims and tomorrow's GDP numbers, which will likely show a continuation of the slowdown we saw begin in the last quarter of 2006. It looks like the European currency traders feel the FOMC has enough ammunition to go ahead and push rates up again, but I don't think so. As I said yesterday, the U.S. economy and the economies of Europe and Asia are moving in opposite directions. While the central banks of Europe and Asia continue to push rates up to combat inflation in their growing economies, the FOMC is having to just "hold the line" with interest rates as the U.S. economy isn't able to withstand another interest rate increase.

more...

[mojavekid]

35. Axel Merk: Dollar Myths 4/26/07

http://www.kitcocasey.com/displayArticle.php?id=1350

Without shying away from controversy, we do away with a number of myths of why the dollar ought to move up or down.

Myth I: The dollar is safe because the U.S. has ample assets

Some say the current account deficit that requires foreigners to arrange for over $3 billion of capital inflows every business day just to keep the dollar from falling does not matter. These pundits say a deficit of 6.5% of Gross Domestic Product (GDP) is sustainable because the deficit is only about 1% of all private assets held in the U.S.; as a result, deficits could be carried a long, long time.

This argument is one about the dollar going to zero, an extreme case of the dollar losing relative to other currencies. However, the current account deficit and its affect on the dollar is about cash flow: by putting it in the context of a GDP is reasonable, as GDP is a cash flow measure of production. Comparing it to private savings is mixing apples with oranges.

Myth II: The dollar is doomed because of our large budget deficit

Just as dollar optimists are wrong to say the dollar is safe because of our tremendous wealth, dollar pessimists are mistaken to put too much emphasis on the budget deficit. By issuing debt, the direct impact of the budget deficit can be mitigated to the burden of interest payments. Of course, as interest payments become excessively large, they will weigh on the dollar eventually. However, the linkage to the dollar is indirect. While it is correct that large budget deficits structurally weaken the U.S. in the long run, it is not appropriate to link short-term dollar movements to the budget deficit.

Myth III: A lower dollar will cure the trade deficit

All too often we hear how much more competitive we would be if we only allowed the dollar to fall. While a weaker dollar may be a short-term boost to earnings and make exports a tad more competitive, it will not bring back industries that have been outsourced. It is most unlikely that the U.S. will thrive on exporting sneakers to China, no matter how low the dollar will fall.

What a weaker dollar may do is provide temporary relief. But unless the U.S. turns into a society of savers and investors, a weaker dollar will only be a pause to an even weaker dollar as imbalances are built up yet again.

more at link...

[Roland99]

42. Therein lies the rub. The falling dollar is a band-aid on a Hoover-dam sized problem.

[Dirk_H]

67. shugarcoating the situation

quote: "...by putting it (the current account deficit) in the context of a GDP is reasonable, as GDP is a cash flow measure of production..."

Even this means shugarcoating the situation, since the GDP of the U.S. is artificilly (and intentionally) inflated, mainly by following means:
- The excessive (not to say grotesque) use of hedonic methods in economic accounting. Compared to international conventions this is near to accounting fraud.
- The repeated creation of bubbles (stock bubble, housing bubble).
- The fact, that over 70% of GDP is created by domestic consumption and by the services sector, which has little meaning for servicing external dept (which is accumulated by the persisting current account deficit).

To give a vivid comparison of the situation:

In the mornings, Mr Smith from Ohio washes the car of his neighbor, Mr. Miller, and receives 1 Million USD from him for this work.
In the afternoon, Mr Miller mows Mr Smths lawn and receives 1 Million USD from him for this high-value work.
The next day, Mr Smith and Mr Miller launch a new trading company together (because the do business so well together). They go to Mr Chang from China, and order 2 Million pair of socks each for 1 USD and they ask Mr Chang politely: "Please lend us the 2M USD for the socks. We will pay the money later. This is no problem for us, since 2M USD is our turnover of only one day. Trust us and you can make really good deals with us (with your money of course)."

[happygoluckytoyou]

39. YOU HAVE TO ASK YOURSELF

all those not doing better, vote democrat
all those doing better, vote republican

(all those who think they are doing better but are really only 2 rent payments from the streets shut up)

taxes, the redistribution of wealth, should be attractive to all of those who are not wealthy (even those of you who got a title upgrade at work in lieu of a raise this year)

the greatest lie the devil ever told was to convince people that he did not really exist

the greatest lie the republican party ever told was to convince christians that the GOP really gives a shit about them

[AnneD]

43. Well call me ...

Swedish but....
1)I have never begrudged paying taxes until I saw Dubya piss it away. Even when they raised FICA-I knew it was what we needed. My sis was able to raise my infant nephew when my BIL was killed. I don't mind taxes that help others. That is necessary to promote the general welfare.

2)I never minded the higher bracket. I loved to get into the higher bracket because that meant I was doing better. I can't take it with me and out side of my daughter (and her children) having a little something from me to get started-I believe in putting back. I didn't come into the world with anything but my mother's good genes and my dad's then good name. If you earn more-you pay more, that is called being a good responsible citizen.

3)Evil does exist. I don't know if it is from satan or man-but evil exists, as does good. It is up to us to choose.

4) There are a number of Christians that never bought into the lie, we just didn't get the press. Christian is not spelled S.U.C.K.E.R. After being taxed, we tithe on top of that. And if we feel the need-we will gift too. How can you tell a mature Christian-if they owe more in taxes than they have paid-they will tithe more before putting money into a personal tax shelter. In this country we have a whole generation that forgot that there once were Liberal Christians. And dare I say, Jesus was one of the most radical of them all. Hitler killed many Jew, but he also killed many Christians.

As a rule, I tend to vote DEM., but that wouldn't stop me from voting for a Snowe, Wiker, and that guy in Cal. (his name escapes me).

One can have money and be a generous spirit too. You can't paint folks with one brush, one colour.

[citizen snips]

46. Exxon Mobil 1Q Profit Rises

NEW YORK (AP) -- Oil giant Exxon Mobil Corp. kicked off 2007 with a 10 percent rise in profits, its best-ever first quarter, as higher margins on refining and chemical operations offset lower prices for crude oil and natural gas.

Exxon Mobil, the world's largest publicly traded oil company, said Thursday it earned $9.3 billion in the January-March period, beating Wall Street expectations, even as revenue slipped and fell well short of analysts' forecasts.

The Irving, Texas-based company was the third major oil company to report earnings in as many days. BP PLC, Europe's second-largest oil company, on Tuesday reported a 17 percent drop in first-quarter earnings on lower oil prices and declining production. On Wednesday, ConocoPhillips said its first-quarter profit rose 7.7 percent as a result of asset sales that offset lower year-over-year commodity prices.

Also Thursday, Valero Energy Corp., the nation's largest independent oil refiner, said its first-quarter profit jumped 35 percent on the back of stronger gasoline and distillate margins.

more...
http://biz.yahoo.com/ap/070426/earns_oil.html?.v=5

[citizen snips]

47. Ford 1Q Loss Narrows

DEARBORN, Mich. (AP) -- At $282 million, Ford Motor Co.'s first-quarter loss was much improved over the $1.4 billion in red ink it posted during the same quarter last year.

Company officials touted the results as a sign that its restructuring plans were taking hold, but Ford still is struggling to make money on its core business -- selling cars and trucks in North America.

The first-quarter loss, announced Thursday, was Ford's seventh consecutive negative quarter, but the automaker said the smaller deficit reflected its efforts aimed at cutting costs and rolling out new products to compete with Asian automakers.

Ford's revenue rose 5 percent, its loss excluding special items was smaller than Wall Street expected and its shares rose more than 4 percent on the New York Stock Exchange.

more...
http://biz.yahoo.com/ap/070426/earns_ford.html?.v=15

[citizen snips]

48. Comcast 1Q Profits Rise 80 Percent

PHILADELPHIA (AP) -- Comcast Corp., the nation's largest cable television operator, on Thursday reported that first-quarter profits surged by 80 percent, in part helped by a one-time gain from the dissolution of a joint venture with Time Warner Cable.

The Philadelphia-based company said the popularity of a discounted package of TV, phone and Internet services continues to lift business across the board. Comcast has thus far targeted mostly residential customers and sees potentially strong growth when it offers a similar package to businesses.

Craig Moffett, a senior analyst at Sanford Bernstein, said the so-called "triple play" package should continue to drive growth for another two years.

"There are still some big opportunities left to exploit. One of them is the business-services market where they're just taking their baby steps today," Moffett said.

more...
http://biz.yahoo.com/ap/070426/earns_comcast.html?.v=9

[citizen snips]

49. Halliburton 1Q Profit Grows 13 Percent

NEW YORK (AP) -- Oilfield services conglomerate Halliburton Co. said Thursday its first-quarter profit rose 13 percent, a boost driven largely by increased business in the Middle East that helped offset lower commodity prices in North America.

The Houston-based company also said it agreed to acquire a smaller competitor, UK-based PSL Energy Services, for an undisclosed amount.

In the first quarter, Halliburton reported net income of $552 million, or 54 cents a share, compared with $488 million, or 46 cents a share, in the same quarter last year.

Excluding results from former subsidiary KBR Inc., the military contractor that became a stand-alone company earlier this month, Halliburton's income from continuing operations was $529 million, or 52 cents a share -- matching the forecast from Wall Street analysts surveyed by Thomson Financial.

more...
http://biz.yahoo.com/ap/070426/earns_halliburton.html?.v=8

[citizen snips]

50. US Airways 1Q Profit Up 2 Percent

PHOENIX (AP) -- US Airways Group Inc. on Thursday said profit edged up 2 percent in the first quarter on modest revenue growth, and the airline company backed its forecast for a profitable year.

But Chief Executive Doug Parker told analysts on a conference call that revenue growth for the Tempe, Ariz.-based company would be flat and competition was keeping airlines from passing on higher fuel prices to passengers.

"You're no longer able to see what you've seen in the last couple years -- increases in revenues. And this comes at a time when fuels costs are increasing," Parker said. "What you're seeing is that it is flattening, making it more difficult to raise prices as costs go up."

US Airways shares fell $2.65, or 6.2 percent, to $40 in afternoon trading on the New York Stock Exchange.

more...
http://biz.yahoo.com/ap/070426/earns_us_airways.html?.v=9

[citizen snips]

51. Sector Glance: Apparel Retailers Rise

NEW YORK (AP) -- Shares of many apparel retailers closed higher Thursday, as HSBC initiated coverage of the sector with several "Overweight" ratings.

HSBC Securities analyst Nora Kahn gave Abercrombie & Fitch Co., AnnTaylor Stores Corp. and Urban Outfitters Inc. all "Overweight" ratings, and American Eagle Outfitters Inc. a "Neutral" rating, sending shares higher. Limited Brands Inc., which was rated "Neutral" rating, ended a two-day rally sparked by speculation the owner of Victoria's Secret and Express chains might be close to selling two of its apparel brands.

Here is how some apparel retailers closed on Thursday:

Abercrombie & Fitch Co. up $1.46 at $84.36

more...
http://biz.yahoo.com/ap/070426/sector_glance_apparel_retailers.html?.v=1

[citizen snips]

52. Sector Glance: Amazon Still Rising

NEW YORK (AP) -- Shares of major Internet companies rose Thursday, as online retailer Amazon.com Inc.'s stock continued to rise after receiving a flurry of rating upgrades and reiterations from analysts on Wednesday.

The company's stock added $5.97, or 10.5 percent, to close at $62.78 on the Nasdaq Stock Market. During the session, shares ran up to $63.04, their highest point since April 2000.

On Wednesday, some analysts upgraded the stock in response to the company's strong Tuesday earnings report, while others restated ratings and raised price targets for the company.

In a note to clients, Goldman Sachs analyst Anthony Noto reiterated his "Neutral" rating and raised his price target for the stock to $55 from $35 on the company's quarterly results, which came in above his estimates.

more...
http://biz.yahoo.com/ap/070426/sector_glance_internet.html?.v=1

[citizen snips]

53. Sector Glance: Telecom

NEW YORK (AP) -- Telecom stocks were mixed Thursday, with wireless carrier Alltel Corp. up ahead of its earnings, scheduled to post on Friday, and NII Holdings Inc. trading at an all-time high.

One analyst called NII's quarterly results "tremendous." The company, which provides mobile phone services in Latin America under the Nextel brand, boosted its customer base to more than 3.7 million subscribers during the quarter.

Among equipment makers, Harmonic Inc. and rival C-COR Inc., whose products are mainly used by cable companies, saw their stock tumble after posting their quarterly results. Harmonic's earnings were just a penny below Wall Street's consensus expectations, but some analysts expressed concern over mounting competition.

Here is how some key telecom stocks fared Thursday:

AT&T, closed down 18 cents to settle at $38.96;

more...
http://biz.yahoo.com/ap/070426/sector_glance_telecom.html?.v=1

[citizen snips]

54. Sector Glance: Auto Suppliers

NEW YORK (AP) -- Automotive suppliers got a boost Thursday on news ranging from earnings to acquisitions to analyst upgrades.

The sector as a whole was buoyed by Ford Motor Co.'s announcement that it posted a first-quarter loss of $282 million, significantly less than the $1.4 billion it lost in the year-ago period.

Meanwhile, shares of Harman International Industries Inc., which makes audio equipment including systems for vehicles, said it had agreed to be bought by two private equity firms for about $8 billion.

ArvinMeritor Inc. was upgraded by a Bear Stearns analyst, who said the company is poised to exceed the current expectations of Wall Street.

more...
http://biz.yahoo.com/ap/070426/sector_glance_auto_suppliers.html?.v=1

[citizen snips]

55. Sector Glance: Oilfield Services

NEW YORK (AP) -- Oilfield service providers ended Thursday up slightly, as Halliburton Co. reported a 13 percent rise in first-quarter profit.

Halliburton credited work in the Middle East, which helped offset weakness in the North American market that's been affecting the overall industry.

Schlumberger Ltd. last week said strong international work helped to boost its first-quarter profit by 63 percent.

The Philadelphia Oil Service Sector Index rose nearly 4 percent.

Here is how some key oilfield service providers fared Thursday:

Halliburton, up 9 cents at $31.63

more...
http://biz.yahoo.com/ap/070426/sector_glance_oilfield_services.html?.v=1

[citizen snips]

56. Copper Slides on Profit-Taking

NEW YORK (AP) -- Profit-taking helped drive copper futures sharply lower Thursday, even though traders continue to monitor a strike threat in Peru, which could increase prices. Gold and silver also fell on profit-taking.

The most-active July copper contract settled down 9.65 cents at $3.5090 per pound on the New York Mercantile Exchange. The metal was also whacked lower on the London Metal Exchange on fund liquidation.

"I really do think this is profit-taking," said Catherine Virga, base-metals analyst with CPM Group. "People are locking in some of the gains seen in the (recent) recovery."

The market may still be reacting some to the softer housing data seen in the U.S. earlier this week, she added. Yet, the severity of the decline suggests mainly profit-taking, she continued.

more...
http://biz.yahoo.com/ap/070426/commodities_review.html?.v=1

[citizen snips]

57. Sector Glance: Hotel Operators

NEW YORK (AP) -- Shares of hotel operators were mixed Thursday as Starwood Hotels & Resorts Worldwide Inc. saw its first-quarter profit climb.

The company reported net income rose to $122 million, or 56 cents per share. Excluding one-time items, income from continuing operations were $104 million, or 48 cents per share.

Analysts surveyed by Thomson Financial were looking for earnings of 39 cents per share. Consensus estimates usually exclude one-time charges.

Starwood runs hotels under the Sheraton, St. Regis, Westin, W, Aloft and Element brands.

Here's how some hotel operators performed on Thursday:

Starwood, up 25 cents to $69.29.

more...
http://biz.yahoo.com/ap/070426/sector_glance_hotels.html?.v=1

[citizen snips]

58. Sector Glance: Chip Stocks Close Up

NEW YORK (AP) -- Semiconductor stocks closed up in Thursday's trading session on encouraging earnings results and second-quarter outlooks.

Chip maker Intel Corp. won back market share over its much smaller rival Advanced Micro Devices Inc., thanks to a lineup of new chips, according to industry analysts Mercury Research.

Intel is estimated to have won back about 6 percentage points of share in the first three months of the year.

AMD and Intel have been embroiled in a bloody price war over the last year, but analysts believe that as the companies roll out new premium-priced products, the price war should subside.

more...
http://biz.yahoo.com/ap/070426/sector_glance_semicondcutors.html?.v=1

[citizen snips]

59. Bristol-Myers 1Q Profit Falls

NEW YORK (AP) -- Bristol-Myers Squibb Co. said Thursday its first-quarter profit fell 3.4 percent on lower sales but still beat Wall Street expectations, and appointed James Cornelius chief executive.

The drug maker earned $690 million, or 35 cents per share, for the three months ended March 31, down from $714 million, or 36 cents per share, during the same period a year ago.

Revenue fell 4 percent to just under $4.48 billion.

The results topped Wall Street expectations, with analysts surveyed by Thomson Financial expecting profit of 23 cents per share on revenue of just under $4.33 billion.

more...
http://biz.yahoo.com/ap/070426/earns_bristol_myers.html?.v=5

[citizen snips]

60. Soybeans Fall, Grains Mixed

CHICAGO (AP) -- Soybean futures declined and grains ended mixed Thursday on the Chicago Board of Trade.

Wheat for May delivery rose 3/4 cent to $5.07 a bushel; May corn fell 6 1/2 cents to $3.64 3/4 a bushel; May oats rose 1 1/2 cent to $2.63 1/2 a bushel; May soybeans fell 3 1/4 cents to $7.18 1/4 a bushel.

Beef futures finished mixed and pork declined on the Chicago Mercantile Exchange.

June live cattle fell .62 cent to 92.70 cents a pound; May feeder cattle rose .18 cent to $1.0815 a pound; May lean hogs fell 1.15 cent to 75.07 cents a pound; May pork bellies fell .85 cent to $1.0315 a pound.

http://biz.yahoo.com/ap/070426/board_of_trade.html?.v=4

[Roland99]

61. Closing numbers - Mexed missages at these rarified heights

DJIA 13,105.50 +15.61 +0.12%
Nasdaq 2,554.46 +6.57 +0.26%
S&P 500 1,494.25 -1.17 -0.08%
Dow Util 527.33 -3.75 -0.71%
NYSE 9,715.49 -31.08 -0.32%
AMEX 2,197.25 -19.86 -0.90%
Russell 2000 833.80 +1.73 +0.21%
Semcond 506.48 +3.64 +0.72%
Gold future 678.00 -9.40 -1.37%
30-Year Bond 4.87% +0.04 +0.79%
10-Year Bond 4.68% +0.04 +0.82%

[citizen snips]

62. Microsoft 3Q Profit Climbs

SEATTLE (AP) -- Microsoft Corp. fiscal third-quarter profit jumped 65 percent, buoyed by sales of its new versions of Windows and Office and by upgrade coupons for the operating system issued over the holidays.

Earnings for the quarter ended March 31 rose to $4.93 billion, or 50 cents per share, from $2.98 billion, or 29 cents per share in same period last year.

Results included legal charges amounting to 1 cent per share, but tax benefits boosted profit by 2 cents per share.

Analysts surveyed by Thomson Financial forecast a profit of 46 cents per share.

more...
http://biz.yahoo.com/ap/070426/earns_microsoft.html?.v=6

[citizen snips]

63. DJIA Leaders & Laggards: 3M, Altria

NEW YORK (AP) -- Conglomerate 3M Co. was the largest gainer Thursday on the Dow Jones industrial average after reporting a stronger-than-expected first-quarter profit.

The 30-stock index rose 15.61, to 13,105.50, after hitting another intraday record of 13,132.80 during the session, one day after crossing the 13,0000 mark.

3M's profit beat Wall Street expectations, after it sold its European pharmaceutical business. Shares picked up $3.48, or 4.5 percent, to $80.45 on the New York Stock Exchange.

General Motors Corp. shares added $1.38, or 4.4 percent, to $32.45 on the Big Board. A Goldman Sachs analyst said the automaker's retail sales will decline only 1 percent in April, despite predictions of weak sales for the month.

more...
http://biz.yahoo.com/ap/070426/djia_laggards.html?.v=1

[citizen snips]

64. Nasdaq 100 Leaders & Laggards: AMZN LVLT

NEW YORK (AP) -- The Nasdaq 100 rose to a higher finish Thursday, boosted by online retailer Amazon.com Inc., whose stock continued climbing after analysts upgraded the stock on the heels of a strong first quarter.

The Nasdaq 100, which includes 100 of the largest nonfinancial securities traded on the Nasdaq Stock Market, rose 8.24 points to 1,889.57. The broader Nasdaq composite rose 6.57 points to 2,554.46.

Amazon.com rose $5.97, or 10.5 percent, to end at $62.78.

XM Satellite Radio Holdings Inc. rose 77 cents, or 7 percent, to close at $11.78, after narrowing its first-quarter loss on higher subscription revenue.

more...
http://biz.yahoo.com/ap/070426/nasdaq_100_laggards.html?.v=1

[ozymandius]

65. at long last... the close

Jeebus! at the volume!!

Dow 13,105.50 Up 15.61 (0.12%)
Nasdaq 2,554.46 Up 6.57 (0.26%)
S&P 500 1,494.25 Down 1.17 (0.08%)
10-Yr Bond 4.684% Up 0.038
NYSE Volume 3,213,719,000
Nasdaq Volume 2,512,093,000

4:20 pm : With the Dow soaring more than 800 points over the last four weeks, logging gains in 18 of the last 20 sessions, and finally eclipsing the psychologically significant 13,000 mark yesterday, it wasn't surprising to see blue chips take a bit of a breather Thursday. Nonetheless, a sizable gain from one of the price-weighted index's most expensive names again helped the Dow close at a new all-time high.

Before the bell, 3M Co. (MMM 80.52 +3.55) handily topped Wall Street forecasts with a 52% rise in Q1 profits and reaffirmed its FY07 outlook, becoming the Dow's best performer. In fact, if it weren't for a 4.6% rally in 3M shares, the Dow would have closed in negative territory.

Fellow Dow component General Motors (GM 32.40 1.33) was the index's next best performer, surging 4.3% after rival Ford Motor (F 8.21 +0.33) posted a narrower than expected Q1 loss that gave investors hope that GM will also surprise the street.

Despite a late-day downturn in oil prices, Exxon Mobil (XOM 80.56 +0.64) turning in a commendable performance was also noteworthy. The world's largest publicly-traded component closed at a new all-time high after shareholders applauded better than expected earnings even though the average price of U.S. crude was 8% lower in Q1 versus last year.

Of the four sectors finishing with gains, Technology was really the only bright spot following a blowout report from Apple (AAPL 98.84 +3.49). Last night, Apple posted an 88% jump in Q2 earnings on robust iPod sales and surged as much as 7.5% intraday before finishing at an all-time high.

Turning in an even better performance on the tech-heavy Nasdaq, though, was Amazon.com (AMZN 62.78 +5.97), which tacked a 10.5% gain onto yesterday's giant 27% surge. The Discretionary sector was also in focus after Harman International (HAR 122.42 +19.86) agreed to be taken private in an $8 bln deal and Wendy's (WEN 37.93 +5.25) said it is exploring strategic options, including a possible sale.

However, the sector's most influential component -- Comcast Corp (CMCSA 27.10 -0.99) -- selling off after merely matching analysts' expectations overshadowed the hefty gains from a handful of companies whose combined market caps still pale in comparison to Comcast's. DJ30 +15.61 DJTA -1.2% DJUA -0.7% DOT +1.1% NASDAQ +6.57 SOX +0.7% SP500 -1.17 NASDAQ Dec/Adv/Vol 1588/1483/2.15 bln NYSE Dec/Adv/Vol 1742/1522/1.62 bln

[AnneD]

66. Say...

anyone organizing a pool around when it collapses...I have a few extra bucks.....