STOCK MARKET WATCH, Monday, October 17, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Monday October 17, 2011

AT THE CLOSING BELL ON October 14, 2011

Dow 11,644.49 +166.36 (+1.43%)
Nasdaq 2,667.85 +47.61 (+1.78%)
S&P 500 1,224.58 +20.92 (+1.71%)
10-Yr Bond... 2.22 -0.03 (-1.11%)
30-Year Bond 3.24 +0.00 (+0.12%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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    William Black: This Economic Disaster    Bill Moyers with Kevin Drum and David Corn

Bush Administration Officials Convicted = 2
Names: David Safavian, James Fondren
Dishonorable Mention: former House majority leader, Tom DeLay

Bush Administration Officials Charged = 1
Name(s): Richard Lopez Razo

Financial Sector Officials Convicted since 1/20/09 = 12

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http://l.yimg.com/bt/api/res/1.2/MKRtWVqkKcSZEwrpqDWxbw--/YXBwaWQ9eW5ld3M7Zmk9Zml0O3E9ODU7dz05NTA-/

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

Read more: du

[Pale Blue Dot]

1. Today's Reports

Oct 17 08:30 Empire Manufacturing Oct -5.0 -4.0 -8.82
Oct 17 09:15 Industrial Production Sep 0.1% 0.2% 0.2%
Oct 17 09:15 Capacity Utilization Sep 77.5% 77.5% 77.4%

Read more: http://www.briefing.com/investor/calendars/economic/2011/10/17-21/#ixzz1b2FZtLuF

[Roland99]

32. Oct. Empire State index little changed at -8.5. -8.8 last month. Expected: -5.0.

[Pale Blue Dot]

2. Oil above $88 amid improving US economic signs

SINGAPORE – Oil prices rose above $88 a barrel Monday in Asia, extending a two-week rally as improved U.S. retail sales added to hopes that the world's biggest economy will avoid a recession this year.

Benchmark crude for November delivery was up $1.26 at $88.06 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $2.57 to settle at $86.80 in New York on Friday.

Brent crude was up 46 cents at $112.69 a barrel on the ICE Futures Exchange in London.

The U.S. government reported Friday that retail sales rose 1.1 percent in September, the biggest gain in seven months.

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

[Pale Blue Dot]

3. U.S. stock futures rise on Europe hopes

FRANKFURT (MarketWatch) — U.S. stock futures rose Monday, with investors taking a cue from Europe as policy makers work toward a weekend deadline for coming up with a comprehensive solution to the euro zone’s sovereign debt crisis.

Futures on the Dow Jones Industrial Average DJ1Z +0.23% rose 46 points to 11,612 and those on the Standard & Poor’s 500 stock index SP1Z +0.23% gained 5.9 points to 1,225.10. Nasdaq 100 futures ND1Z +0.49% added 13 points to 2,380.25.

Corporate earnings will likely continue to take a back seat to European developments, strategists said.

A weekend meeting of finance ministers from the Group of 20 industrialized and developing nations in Paris saw international pressure heaped on European leaders to finalize a definitive plan when they gather in Brussels for a summit meeting on Sunday.

http://www.marketwatch.com/story/us-stock-futures-rise-on-europe-hopes-2011-10-17?link=MW_latest_news

[Pale Blue Dot]

31. U.S. stocks fall on reduced Europe optimism

NEW YORK (MarketWatch) — U.S. stocks declined on Monday, retreating from last week’s rise, after Germany played down the notion of a quick fix for Europe’s debt trouble and as a index of manufacturing for the New York region left investors disappointed.

“Europe remains the primary catalyst,” wrote Jason Pride, director of investment strategy at Glenmede, in emailed commentary.

The Dow Jones Industrial Average DJIA -1.09% shed 125.94 points to 11,518.55, with all but two of its 30 components falling.

The S&P 500 SPX -1.13% fell 12.31 points to 1,212.30, with natural-resource and financial companies hit the hardest among its 10 industry groups.

The Nasdaq Composite COMP -1.09% was off 22.30 points at 2,645.55.

http://www.marketwatch.com/story/us-stocks-fall-on-reduced-europe-optimism-2011-10-17

Let's see how often this changes today.

[Roland99]

33. US to Europe: You are the wind beneath my wings

[Demeter]

40. Now BLOW, Dammit!

[DemReadingDU]

4. Good morning, 1st rec!

edit: who is unreccing this thread???
Back to zero??

[Demeter]

5. There are some very sick people in this world

even on DU. Good morning, regardless of them!

[xchrom]

6. i'm sick as a dog this morning -- and i've somehow managed to sprain my thumb.

must be monday:donut:

[Demeter]

9. Poor Baby!

We need a chicken soup smilie.

[xchrom]

10. sigh that looks so good!

:hi: thanks

[DemReadingDU]

15. I can almost smell the aroma!

time for breakfast

[Demeter]

16. Come on, Guys, Stop Drooling! You are making ME hungry

and I even got two substantial meals made by my own hands yesterday...I'd make chicken soup, if I had time and a chicken....

[xchrom]

7. Households and Their Debts

http://www.theatlantic.com/business/archive/2011/10/households-and-their-debts/246751/

On Friday the latest Allstate/National Journal Heartland Monitor poll was released. The focus of this latest study was the interaction between household confidence and debt, personal and public. Ron Brownstein describes the findings for NJ: Credit Scarred. The full poll results, well worth browsing through, are here. Seen as a forward-looking economic indicator, they are bleak. They make especially painful reading for Democrats, by the way, because they suggest that persistent or worsening pessimism over debt is eroding support for the president. From Brownstein's article:

Three-fourths of those polled said they believed they personally would be better off if they carried "no debt by paying off all your loans right now." Just one-fourth accepted the idea that debt made them better off by allowing them "in effect borrow from your future income." On that ringing declaration, the views of whites and minorities, the young and the old, those with and without college degrees, and even the wealthy and the poor varied little. Jared Quincy, a lawyer in Herriman, Utah, eloquently expressed the aspiration inherent in that finding. "I think too many people confuse the American Dream with 'I can have whatever I want' and believe debt is a pathway to having whatever you want," he says. "I would submit that the American Dream is self-determination, and enslaving yourself to creditors is no way to self-determination."

Most Americans may not be able to achieve that ideal (83 percent reported holding at least one form of debt), but many are looking to steer their lives in that direction. When asked whether the economic downturn had required them "to cut back on spending on things such as clothing, vacations, and dinners out in order to pay down your debt or not acquire any new debt," more than three-fifths said yes, while only about one-third said no.

At an event yesterday to launch the poll, I moderated a panel of experts (Joe Gagnon, Jeff Lubell, Margaret Simms, and Terry Savage) to discuss the issues raised. Not wishing to put words into their mouths, I'd say they agreed that fears (not necessarily well grounded) about public debt, together with the seeming incapacity of Washington to deal with that problem, were compounding household anxieties about personal finances: a vicious circle, because household pessimism slows the economy and worsens the long-term fiscal outlook.

[AnneD]

29. I can sum up the lack of support...

for Obama.

Corps and bankers have been trying to sell us their toothpaste. When we wised up to the poor quality of the toothpaste they were pushing-they just got a different sales person to pitch it to us. But the point remains, it is still the same nasty toothpaste.

I hope OWS has these guys washing the stains out of their skivvies.

That is why that story about an assignation attempt of the Saudi diplomat isn't going over. That kind of bungling I credit to the US, not Iran...and he would not have ever been the first diplomat we have ever assassinated.

This is another 'fast and furious' operation that blew up in someones face like Castro's cigar.

[truedelphi]

48. Is the story really approaching a Big Fail?

I hate the idea that we would go to war over the "revered testimony" of some scum bag, third rate drug informant! Who just happened to get moved into a bigger and more momentous type of story than drugs.

On the other hand, the Powers that Be usually get their way. So if they don't get us to go to war on account of the original story being distrusted, they will just go back to the drawing board.

[AnneD]

49. They are working harder.....

to sell that assasination attempt story. This admin doesn't have a Colin Powell to sell it before the UN. The trial baloon isn't working. You add ANOTHER usless war to the mix and thousands more OWS will pop up all over this country.

As I said, we know know that this is the same nasty toothpaste they are selling and people are not buying it.

[Demeter]

8. Wireless Users Will Get Alerts on Excess Use

http://www.nytimes.com/2011/10/17/technology/fcc-and-wireless-carriers-agree-to-alerts-to-fight-bill-shock.html

Users of cellphones and other wireless devices who are nearing their monthly limit for voice, text or data services will receive alerts when they are in danger of being charged extra, under an agreement reached by carriers and the Federal Communications Commission. The agreement, which is to be announced Monday, brings together an industry and a regulator that have fought bitterly this year over the F.C.C.’s attempts to police Internet service providers and over the commission’s review of wireless company mergers. The agreement will begin within a year.

Wireless companies have generally opposed the commission’s recent efforts to dictate how they communicate with customers. But the carriers have also been losing good will with people bitter about the sometimes exorbitant charges resulting from overuse of what has become a consumer staple — the cellphone. Tens of millions of wireless phone users are hit with overage charges each year, the F.C.C. estimates, based on its own studies and work by the Government Accountability Office and private research firms. The new agreement binds all of the members of the industry’s largest trade group, and therefore covers virtually all of the country’s more than 300 million wireless accounts, according to the F.C.C. chairman, Julius Genachowski...President Obama, in a statement, said: “I appreciate the mobile phone companies’ willingness to work with my administration and join us in our overall and ongoing efforts to protect American consumers by making sure financial transactions are fair, honest and transparent.”

For 18 months, the F.C.C. has been investigating what it calls bill shock, what consumers experience when they receive their monthly wireless bill to find unexpected charges of hundreds or thousands of dollars for roaming or overuse of voice and data services. In October, it proposed a regulation that will now be delayed while the commission monitors the industry’s voluntary compliance. Most wireless contracts call for a customer to pay a flat monthly fee for a fixed number of minutes of talk time. Some plans include a set number of text messages, and others, most often for smartphones, tablets like the iPad, or laptop computer air cards, include a certain amount of data use each month. A customer exceeding those limits will begin incurring charges that are often far more expensive on a per-unit basis than under the monthly allotments. While many carriers offer several ways for consumers to check their usage, those struck by large bills usually had not regularly done so.

Alerting consumers to data limits is particularly relevant with the explosive growth of the iPad and other tablets, which can consume immense amounts of data in downloading music and books, and streaming movies. The F.C.C. has said that the popularity of tablets and the accompanying growth in data use is contributing to overcrowding of the airwaves, with wireless companies finding that they may eventually not be able to accommodate the demand for downloading. A 2010 study by the F.C.C. found that one in six mobile device users had experienced bill shock, with 23 percent of those users facing unexpected charges of $100 or more. A separate F.C.C. report noted that 20 percent of the bill shock complaints it received during the first half of 2010 were for $1,000 or more in overage charges. Expensive charges can also be incurred for roaming, when a user travels out of a company’s defined area of coverage or, as often occurs, when traveling overseas...Companies have the option to deliver alerts by text or voice, but they must be free and automatic. Consumers can opt out of the service if they choose. At least two of the four types of alerts must be started by carriers within 12 months, and all alerts must begin within 18 months.


SO, THIS ADMINISTRATION CAN BE RESPONSIVE TO PUBLIC PRESSURE---IF IT WANTS TO BE!

[Fuddnik]

30. One way around cell phone contracts is Straight Talk.

I know, I know, it's a partnership between Walmart and Tracphone. I hate Walmart and don't do business with them, but this is worth it.

There's no contract. You buy your phone up front, and you can keep your number.

You get 1000 minutes, 1000 texts and 30 megabytes of data for $30 per month. Unlimited everything for $45 per month. Smart phones have to have the $45 service. They buy large blocks of time and bandwidth, at a discount from the major carriers. Regular phones are hooked into the Verizon network. So, you've got coverage anywhere. Different smartphones are plugged into the AT&T and Sprint networks.

And they offer decent phones at a reasonable price from around $20 for a basic phone w/a camera up to $100 for a Blackberry. I got a Samsung Android-operated touch screen, w/ all the bells and whistles including GPS for $149.

I've had a couple of there phones over the last couple of years, after first hearing about them on Denningers site. My Samsung operates on the Sprint network, which gets a little spotty coverage outside Metro areas. So before I went to my dad's in Boondocks SC a couple of weeks ago, I transfered my number and service over to one of my old phones that works on the Verizon network. Then switched it back when I got home. It's real simple, just go to their website, a couple of mouse clicks, and it's done. I t could take a couple of hours for the change, but one of the phones will be working all the time.

Screw those 2 year service agreements, packages and extra charges. The only thing you'll pay above the $30 or $45 is state sales tax.

[truedelphi]

50. Thanks for the info.

My household probably needs a cell, for use when we are on the road.

But I hate the idea of two year contracts, that are very one sided. If you read the fine print, you find out that the "great deal" of a "free phone" and only $29.95 a month is subject to change. How they can even say that this is a contract - I have no
idea. Can any entity other than a phone co. sell something, with it written on the contract that nothing regarding the seller's position means a thing?

[xchrom]

11. europe: France to Sell Frigates to Greece in Controversial Deal

http://www.spiegel.de/international/europe/0,1518,792189,00.html

Berlin is unhappy about a weapons deal in which France plans to supply warships to highly indebted Greece free of charge for the first five years, and at a big discount when payment comes due. Firms and politicians in Germany say taxpayers may end up paying for part of the deal, and they want Chancellor Angela Merkel to intervene.

A huge arms deal is threatening to put French-German relations under strain. According to information obtained by SPIEGEL, France wants to deliver two to four new frigates to the Greek navy and to allow the highly indebted nation to postpone payment of the €300 million ($412 million) purchase price per ship for the next five years.

Under the deal, Greece will have the option of paying up after five years, with a significant discount of €100 million, or returning them to the French navy. The "stealth" frigates are designed to avoid detection by enemy radar and are built by state-owned French defense company DCNS.

The deal is being criticized by German rivals that have been competing for the contract for years.




***right cause what greece needs now are war ships:eyes:

[Demeter]

17. To go with the tanks US sold them

The U.S. approved to grant 400 M1A1 Abrams to Greece

http://www.defencegreece.com/index.php/2011/10/the-u-s-approved-to-grant-400-m1a1-abrams-to-greece/

[xchrom]

19. fuck. nt

[xchrom]

25. Banks bristle at Greek haircut plan

http://www.bbc.co.uk/news/business-15336199

There is now a major lobbying operation under way. The banks that lent to Greece are suddenly worried that a deal they thought was done is in the process of being undone - and a new and bigger bill is heading their way.

In July, Greece's creditors agreed - voluntarily, they point out - on a 21% write-down of their debt - the so-called haircut. In other words, they accepted that for every dollar or euro they had lent to the Greek government, they might get back 79 cents.

But over the weekend, German finance minister Wolfgang Schaeuble indicated that the deal would need to be revisited. He said that private holders of Greek bonds might well have to endure bigger losses than the previously agreed figure.

Mr Schaeuble declined to put a figure on it, but the banks fear that the new number might be 50% - for every euro they lent, they get back half.

[Ghost Dog]

46. Haircuts are where it's happening. n/t

[AnneD]

51. Is that ....

the New Grecian Formula...:spray:

Sorry, I couldn't resist. I'll go back to my room now.

[xchrom]

27. UK economy at dangerous junction, warns Item Club

http://www.bbc.co.uk/news/business-15326778

The UK economy has stalled at a dangerous junction, according to independent forecaster Ernst and Young.

The body, whose Item Club uses the same forecasting methods as the government, says the economy needs new growth measures to get back on track.

It says uncertainty across the eurozone and a slowing world economy is undermining business confidence.

Ernst and Young also says the Bank of England's new quantitative easing (QE) bout is unlikely to prompt recovery.

[Fuddnik]

34. Austerity we can all believe in!

Or something like that.

[xchrom]

12. Kinder Morgan buying El Paso in $38 billion deal

http://www.marketwatch.com/story/kinder-morgan-buying-el-paso-in-38-billion-deal-2011-10-16-163310?dist=beforebell

WASHINGTON (MarketWatch) -- Kinder Morgan Inc. said Sunday it will create the largest natural-gas pipeline system in the U.S. by buying El Paso Corp. in a $38 billion cash, stock and warrant deal that includes $17 billion in debt.

The agreement values El Paso /quotes/zigman/277082/quotes/nls/ep EP +28.64% at $26.87 a share, a 47% premium to the stock’s 20-day average closing price and 37% above where it closed Friday, Kinder Morgan /quotes/zigman/3811989/quotes/nls/kmi KMI -5.17% said.

The combined enterprise, which will include Kinder Morgan Energy Partners LP /quotes/zigman/174054/quotes/nls/kmp KMP +0.07% and El Paso Pipeline Partners LP /quotes/zigman/481297/quotes/nls/epb EPB -3.97% , will have 80,000 miles of pipeline and an enterprise value of $94 billion, the company said.

[Demeter]

13. Losing Their Immunity By PAUL KRUGMAN

http://www.nytimes.com/2011/10/17/opinion/krugman-wall-street-loses-its-immunity.html

As the Occupy Wall Street movement continues to grow, the response from the movement’s targets has gradually changed: contemptuous dismissal has been replaced by whining. (A reader of my blog suggests that we start calling our ruling class the “kvetchocracy.”) The modern lords of finance look at the protesters and ask, Don’t they understand what we’ve done for the U.S. economy? The answer is: yes, many of the protesters do understand what Wall Street and more generally the nation’s economic elite have done for us. And that’s why they’re protesting.

On Saturday The Times reported what people in the financial industry are saying privately about the protests. My favorite quote came from an unnamed money manager who declared, “Financial services are one of the last things we do in this country and do it well. Let’s embrace it.” This is deeply unfair to American workers, who are good at lots of things, and could be even better if we made adequate investments in education and infrastructure. But to the extent that America has lagged in everything except financial services, shouldn’t the question be why, and whether it’s a trend we want to continue?

For the financialization of America wasn’t dictated by the invisible hand of the market. What caused the financial industry to grow much faster than the rest of the economy starting around 1980 was a series of deliberate policy choices, in particular a process of deregulation that continued right up to the eve of the 2008 crisis...Not coincidentally, the era of an ever-growing financial industry was also an era of ever-growing inequality of income and wealth. Wall Street made a large direct contribution to economic polarization, because soaring incomes in finance accounted for a significant fraction of the rising share of the top 1 percent (and the top 0.1 percent, which accounts for most of the top 1 percent’s gains) in the nation’s income. More broadly, the same political forces that promoted financial deregulation fostered overall inequality in a variety of ways, undermining organized labor, doing away with the “outrage constraint” that used to limit executive paychecks, and more....Oh, and taxes on the wealthy were, of course, sharply reduced....

MUCH MORE GOOD WHACKS EDITED OUT HERE FOR DU--SEE LINK




Money talks in American politics, and what the financial industry’s money has been saying lately is that it will punish any politician who dares to criticize that industry’s behavior, no matter how gently — as evidenced by the way Wall Street money has now abandoned President Obama in favor of Mitt Romney. And this explains the industry’s shock over recent events. You see, until a few weeks ago it seemed as if Wall Street had effectively bribed and bullied our political system into forgetting about that whole drawing lavish paychecks while destroying the world economy thing. Then, all of a sudden, some people insisted on bringing the subject up again. And their outrage has found resonance with millions of Americans. No wonder Wall Street is whining.

[Demeter]

14. Weekend Economists Got Off to A Late Start

due to Euchre Night, and most of my posting occurred after lunch on Sunday.
Check it out for complete coverage!

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x632319

And now, I must off to paper the world....it's gonna be a bumpy night both tonight and tomorrow, as I prepare to rub some puppies' noses in their own shit. As my horrorscope put it today:

"You are wisely embracing new ideas right now, but it looks as though you might be the only one. Everyone around you is behaving with extra caution. What they fear might not be clear to you -- and it doesn't have to be. You do not have to take on the burden of changing everyone's minds, though putting some effort in that direction will make you feel good. Pushing your agenda too hard will turn people off, but it will also show them that you are a person of substance and convictions."

Convictions? I ain't even been arrested!

[xchrom]

18. south asia: Sensex ends down 57 points; RIL, BPCL, SAIL, NTPC, BHEL down

http://economictimes.indiatimes.com/markets/stocks/market-news/sensex-ends-down-57-points-ril-bpcl-sail-ntpc-bhel-down/articleshow/10389023.cms

MUMBAI: The 50-share National Stock Exchange benchmark Nifty ended a tepid session in the negative territory as investors shied away from taking fresh long positions near higher levels. According to dealers, the market is likely to consolidate for next few sessions and stock specific action would be seen based on corporate earnings.

The benchmarks had opened with a gap-up in line with Asian peers but failed to hold on to gains following profit booking in index heavy weight Reliance Industries.

The oil&gas major reported standalone net profit of Rs 5703 crore for quarter ended September 2011 against Rs 4923 crore in the same quarter a year ago. Net sales were at Rs 78569 crore as compared to Rs 57479 crore.

"For Q2FY12, Reliance Industries' EBITDA and PBT were broadly in line with our expectations. EBITDA, during the quarter, registered a growth of 4.8% YoY on the back of strong refining margins and stood at Rs 98.4bn against our expectation of Rs 97.2bn," said Prabhudas Lilladher report.

[xchrom]

20. Gold futures steady on global leads, rupee eyed

http://economictimes.indiatimes.com/markets/commodities/gold-futures-steady-on-global-leads-rupee-eyed/articleshow/10388107.cms

MUMBAI: India gold futures were steady on Monday afternoon following a similar trend in overseas markets, although a stronger rupee could weigh on sentiment later in the day, dealers said.

The most-active gold for December delivery on the Multi Commodity Exchange (MCX) was 0.10 percent higher 26,913 rupees per 10 grams.

Global gold hovered around $1,680, after posting its biggest weekly gain since early September, as investors await concrete steps to tackle the euro zone debt crisis that could come out of a European Union summit this weekend.

The Indian rupee nudged higher comforted by a strong euro, although volatility in domestic equities and dollar demand from local oil refiners limited the gains.

[xchrom]

21. Diwali 2011: Gold coins, jewellery bookings up on price worries

http://economictimes.indiatimes.com/markets/commodities/diwali-2011-gold-coins-jewellery-bookings-up-on-price-worries/articleshow/10386925.cms

NDORE: Bookings for gold jewellery and coins have picked up in the city with the Pushya Nakshatra and Dhanteras festivals round the corner. Amid volatility in bullion prices, jewellers in the city believe that the yellow metal may touch the Rs 28,500 per 10 gram mark during the festival. Any upward price movement may affect trade adversely, traders say.

Buying gold on Pushya Nakshatra and Dhanteras, on October 20 and 24, is considered auspicious.

The global price volatility in gold has made it difficult even for experts to make any prediction about rates. Indore Sarafa Association president and director, Jaggu Bhai Jewellers, Hukam Soni, said, "Bookings for jewellery have gone up ahead of festivals. With demand picking up, price rise worries remain. However, comparing the trend across the country, the price is likely to remain close to Rs 28,500 per 10 gram."

[xchrom]

23. HDFC Bank brings back Diner's Card

http://timesofindia.indiatimes.com/business/india-business/HDFC-Bank-brings-back-Diners-Card/articleshow/10388354.cms

MUMBAI: Diner's Club the oldest card in India is set to make a comeback. The premier charge card, which was sold by Citi to Discover in 2008 will soon be relaunched through an affiliation with HDFC Bank. The private bank which is expanding is premium segment will be a franchise for Diner's Club in India and plans to acquire Citi's Diner's Card portfolio.

Diner's Club is a payments company similar to Visa and MasterCard. Internationally it is positioned as a card for the affluent with benefits in the travel and entertainment segment. For instance cardholders have access to 35o airport lounges across the world. The flipside is that the card has its own acceptance network and is not accepted in all card accepting establishments.

HDFC Bank which began issuing cards in the mass segment has been slowly expanding its presence in the premium space. After launching cards in the travel segment the bank had recently launched is Infina card for the super rich. The bank is expected to start issuing Diners Club cards in five to six months.

At present HDFC Bank has around 55 lakh credit cards and is issuing new cards at the rate of 40-50,000 cards every month. For Diners Club the advantage is that HDFC Bank will also provide merchant acquiring services, thereby creating more acceptance opportunities for the Diners Club brand in India.

[xchrom]

22. asia: Hong Kong shares end 2.01% higher

http://economictimes.indiatimes.com/markets/global-markets/hong-kong-shares-end-2-01-higher/articleshow/10388445.cms

HONG KONG: Hong Kong shares ended 2.01 per cent higher Monday after positive US economic data and a weekend meeting where European leaders vowed to take swift and decisive action to tackle its debt crisis.

The benchmark Hang Seng Index gained 372.20 points to 18,873.99 on turnover of HK$62.53 billion ($8.04 billion).

Traders said the rebound was underpinned by signs that concerted efforts from finance ministers at the G20 may avoid a Greek default. But they noted trading volumes remained thin as investors retreated to the sidelines ahead of the release of China's GDP data scheduled for Tuesday.

The G20 ministers and central bankers, after concluding their gathering Saturday, said they expected an October 23 meeting of European leaders to "decisively address" the challenges through a comprehensive plan.

[xchrom]

24. China surpasses US as EU's top trade partner

http://timesofindia.indiatimes.com/business/international-business/China-surpasses-US-as-EUs-top-trade-partner/articleshow/10376137.cms

BEIJING: Trade between China and the European Union (EU) totalled 35.6 billion euros ($49.4 billion) in July, allowing China to overtake the US as the EU's largest trade partner, authorities said.

The overall value of China-EU trade in July exceeded that of the EU and the US by 800 million euros, accounting for 13.4% of the region's total imports and exports, according to data released by the EU's statistics office.

However, bilateral trade shrank for a second consecutive month in July, falling 0.8% from the same period last year, the ministry of commerce said, citing the latest statistics from Eurostat.

Xinhua reported that China remained the EU's second largest export market. EU exports to China totalled 11.7 billion euros in July, up 12.3% year-on-year, which is higher than EU's total export growth rate of 4.1%.

[xchrom]

26. Hong Kong becomes first centre for gold trading in yuan

http://www.bbc.co.uk/news/business-15330664

Hong Kong has become the world's first place to offer gold trading in yuan, cementing its status as an offshore hub for the Chinese currency.

The Chinese Gold & Silver Exchange Society (CGSE) said it will offer offshore renminbi-denominated spot gold contracts to investors.

The move comes amid a push by Chinese authorities for a more international role for its currency.

Hong Kong is the world's third-largest gold trading centre.

[bread_and_roses]

28. K & R

... sorry I was missing in action at WE - I was exhausted by standing at OWS here - I am not very strong or fit these days. Why didn't this happen a few years ago :(

I sometimes forget to R - but remembered today - have to counter the un-reccers, whomever they are and whatever their peculiar motives.

[Demeter]

37. Any day anyone shows up is a good day

I know what you mean about timing...why couldn't change for the better start in 2000, when I was able to do something about it?

[lovuian]

35. China Just Made A Huge Purchase In The United States

China has made one of its biggest-ever purchases of corn on overseas markets, buying 900,000 metric tons of American corn and showing that growing Chinese demand will play an ever larger role in global grain prices.

The country was a net exporter of corn until 2009 but is now struggling to keep up with growing demand for the grain — which is mainly used in China as animal feed — as incomes increase and people eat more meat.

http://www.moneynews.com/Markets/AS-China-Corn/2011/10/14/id/414491#ixzz1b3G3vv4l

So this is how capitalism works
China can out bid Americans on their own corn

Starve Americans Starve

[RUMMYisFROSTED]

36. Geronimo!

[Demeter]

38. It's only a flesh wound

[RUMMYisFROSTED]

39. Is that a watercolor?

Sweet!

[Demeter]

41. Pen and Ink, I think

[Demeter]

42. Deutsche’s casino exposure hits $4.9bn

The German lender is one of the largest investors and creditors in Las Vegas, though the holdings were never part of its original strategy

Read more >>
http://link.ft.com/r/WDI4RR/NJUQXA/VTVRG/QNNZK3/GD97I4/82/t?a1=2011&a2=10&a3=17

[Demeter]

43. What the G20 can do to solve the eurozone crisis

You cannot remove the fragilities in Europe’s banking system without solving the sovereign debt crisis… and you cannot solve the debt crisis without stabilising the banks. This much has finally been recognised by the Group of 20 finance ministers at their meetings in Paris over the weekend. They must now move on to addressing the underlying issues at next week’s European summit and the meeting of the G20 heads of state in November, writes Mohamed El-Erian.

Read more >>
http://link.ft.com/r/XYEWFF/OR199C/JQU4J/L990CG/62560E/UP/t?a1=2011&a2=10&a3=17

HINT, MOHAMED...NATIONALIZE AND SHUT DOWN....THIS MOUNTAIN AIN'T COMING TO YOU...YOU ARE GOING TO HAVE TO GO TO IT

[Demeter]

44. COMMON SENSE

"When a man has so far corrupted and prostituted the chastity of his mind as to subscribe his professional belief to things he does not believe he has prepared himself for the commission of every other crime."

-- Thomas Paine -- (1737-1809)
US Founding father

[Demeter]

45. Obama For Sale Obama Campaign Reports More than 350 Big Bundlers

http://www.iwatchnews.org/print/7127

More than 350 big money bundlers have contributed at least $55 million so far this year to President Obama’s re-election efforts, according to an iWatch News analysis of the campaign’s Friday disclosure. <3> And more than 40 bundlers each roped in at least $500,000.

Among the 358 big bundlers are two men prominently tied to the ongoing Solyndra <4> controversy.

Included in those totals are 114 new bundlers who had not been reported as bundlers in the first half of the year, almost a 50 percent increase from just three months ago. Another 80 bundlers disclosed last summer have notably increased their efforts for Obama.

The Solyndra-related bundlers are Steve Westly and Steven Spinner, whose names have figured prominently in communications related to the solar startup, which went bankrupt even after receiving more than half a billion dollars in federal loan guarantees from the Energy Department....

REALLY BAD FORM, THERE

[nc4bo]

47. Change!

ETA: I think it should be mandatory that the ID's of all campaign donors be listed along with how much they donate.

Tired of this shit!