STOCK MARKET WATCH, Monday, May 2, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Monday May 2, 2011

AT THE CLOSING BELL ON April 29,2011

Dow 12,810.54 +47.23 (+0.37%)
Nasdaq 2,873.54 +1.01 (+0.04%)
S&P 500 1,363.61 +3.13 (+0.23%)
10-Yr Bond... 3.30 +0.01 (+0.40%)
30-Year Bond 4.41 +0.01 (+0.14%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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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 = 11

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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. Should be a fascinating day. Today's Reports:

May 02 10:00 Construction Spending Mar -0.5% 0.0% -1.4%
May 02 10:00 ISM Index Apr 58.5 59.7 61.2
May 02 15:00 Auto Sales May NA NA 4.75M
May 02 15:00 Truck Sales May NA NA 5.19

Read more: http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm#ixzz1LByXJZzZ


It's not so much the reports that will be fascinating, but how world events will play out today....

[Pale Blue Dot]

75. Treasuries Erase Losses as Factory Report Indicates Slower Growth in April

Treasuries erased losses as a report showed U.S. manufacturing grew last month at a slower pace, reinforcing concern that the economic recovery will be gradual.

Benchmark 10-year note yields earlier climbed from a one- month low as global stocks and the dollar rallied after President Barack Obama said Osama bin Laden died in a firefight in Pakistan, depriving the militant al-Qaeda group of its leader. The Fed will buy $6 billion to $8 billion of Treasuries due from May 2018 to February 2021 today as part of the debt purchase program.

“Ultimately, this market will start to focus on what is going on in the U.S. economy and what’s going on with congress,” said Charles Comiskey, head of Treasury trading at Bank of Nova Scotia in New York. “The focus is still on the debt ceiling coming up this month and growth, which people are beginning to believe is weakening.”

Yields on 10-year notes were little changed at 3.30 percent at 10:25 a.m. in New York, according to Bloomberg Bond Trader prices, after rising as much as three basis points. The 3.625 percent note due in February 2021 traded at 102 26/32.

http://www.bloomberg.com/news/2011-05-02/treasuries-decline-as-bin-laden-s-death-reduces-demand-for-safer-assets.html

[Pale Blue Dot]

2. Oil falls below $113 after bin Laden killed

SINGAPORE – Oil prices eased off 2 1/2 year highs to below $113 a barrel Monday after President Barack Obama announced that al-Qaida leader Osama bin Laden had been killed.

Benchmark crude for June delivery was down $1.56 at $112.37 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.

The contract rose $1.07 to settle at $113.93 on Friday and reached $114.18 during in the session, the highest since September 2008.

In London, Brent crude for June delivery was down $1.43 to $124.46 a barrel on the ICE Futures exchange.

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

[xchrom]

6. Crude oil drops most in two weeks as US says bin Laden killed

http://www.arabianbusiness.com/crude-oil-drops-most-in-two-weeks-as-us-says-bin-laden-killed--397310.html

Oil dropped the most in two weeks in New York on speculation that the killing of Osama bin Laden may ease the risk of Middle East supply disruptions.

Futures fell as much as 1.6 percent after the first reports that bin Laden, who orchestrated the September 11 attacks on New York and Washington, was dead. Obama confirmed the Al Qaeda leader died during a firefight in Abbottabad, Pakistan. Oil slipped earlier on signs China’s economic growth may moderate, tempering fuel demand in the world’s second biggest crude user.

“The elimination of someone like Osama could be a bearish driver because it could alleviate the contagion fears in the Middle East,” said Stephen Schork, president of market consultants The Schork Group Inc in Villanova, Pennsylvania. “The market has been waiting for news to move in a significant way in either direction. Now we have a headline that could clear the path for a significant correction lower.”

Crude for June delivery slipped as much as $1.82 to $112.11 a barrel in electronic trading on the New York Mercantile Exchange, and was at $112.39 at 3:05 pm Singapore time. The contract rose $1.07, or one percent, to $113.93 on April 29, the highest settlement since September 29, 2008.

[rfranklin]

10. Makes a lot of sense since OBL controlled so much of the oil market...

didn't he?

[Pale Blue Dot]

12. Note the spin.

This has merely dropped the price of oil back to Thursday evening levels, yet news outlets all over are praising this as some miracle.

I repeat: We're only back to where we were 4 days ago.

[xchrom]

15. good catch. nt

[burf]

45. Its now down all of 63 cents

a barrel. So much for the short lived exuberance.

More proof the markets are in no way connected to reality.

[Demeter]

36. I need to buy gas...Maybe It Will Be Down?

It was $4.07 yesterday, best price.

[xchrom]

44. I have a 98 corolla that now takes over 30 bucks to fill.

I hope it goes down.

[Fuddnik]

88. It was $3.79 here this morning.

I filled up my 2002 Corolla a couple of days ago. It was on fumes. The first time I ever put $40 in a gas tank.

[Demeter]

92. It was still $4.07 this morning, so I bought--and it went up a dime since

It took $60 to fill the tank. What will become of us?

[Fuddnik]

32. Now Trump is demanding to see the long-form death certificate!

Sez Osama was really killed at Ground Zero Mosque in NYC.

[Demeter]

38. What proof do we have, Anyway?

And it was an assassination--so VERY legal and all....what has the United States become but the worst of all forms of government, simultaneously.

[Imagevision]

43. After a dead Osama oil should be back to $50.00 a barrel...speculators!!!

[Pale Blue Dot]

74. It's now over $114.

That was short-lived.

http://chart.finance.yahoo.com/t?s=CLM11.NYM&lang=en-US®ion=US&width=300&height=180

[Pale Blue Dot]

3. U.S. Stock Futures Advance After Obama Says Bin Laden Killed in Pakistan

U.S. stock-index futures advanced after President Barack Obama said al-Qaeda leader Osama bin Laden has been killed, almost 10 years after the Sept. 11 attacks that he orchestrated.

TiVo Inc. jumped 20 percent in early New York trading after the digital-video recording pioneer settled all patent litigation with Dish Network Corp. and EchoStar Corp. Terex Corp. rose 1.8 percent after saying it bid for Demag Cranes AG. Volcom Inc. climbed 1.9 percent as PPR SA agreed to buy the company for $607.5 million in cash.

Standard & Poor’s 500 Index futures expiring in June climbed 0.6 percent to 1,367.6 at 6:11 a.m. in New York. The benchmark measure of U.S. shares closed at the highest level since June 2008 last week after rallying 8.4 percent in 2011. Dow Jones Industrial Average futures added 0.6 percent to 12,836 today, while Nasdaq-100 Index futures rose 0.6 percent to 2,415.

“I’m ecstatic,” said Shawn Price, who manages $2.7 billion at Navellier & Associates Inc. in Reno, Nevada. “It’s a short-term positive across the board both for domestic and international export-oriented companies. We will get a broad relief rally because a world villain has been taken down. Whether it’s a true or false sense of security, the average American will feel more safe now, feel better about the economy and the market.”

http://www.bloomberg.com/news/2011-05-02/u-s-stock-futures-advance-after-u-s-official-says-osama-bin-laden-dead.html

[xchrom]

54. Laden death news driving market, not substance: Nomura

http://www.moneycontrol.com/news/fii-view/laden-death-news-driving-market-not-substance-nomura_539729.html

Q: How have you read this development in terms what it does for geo-political equations and what financial markets should read into it?

A: We need to look at this in two distinct ways. First of all, symbolically, the death of Osama Bin Laden is extremely important. Not only to America but worldwide. That symbolism should not be underestimated. But the corollary of that is that substantively this is not all that significant in my view.

Osama Bin Laden was not in operational command of al Qaeda. We have no reason to believe at all that its operational capabilities are in anyway degraded by his death. Personally, I would say the rally which we have seen in markets this morning is driven principally by sentiment and not by substance.



please take this with the appropriate grain of salt -- he is an industry insider.

[Demeter]

85. I'm inclined to agree

We get all the blowback, and no progress whatsoever beyond a temporary public relations "coup", which generates the blowback.

[xchrom]

4. buh-bye osama. nt

[Hugin]

13. ...

:nodinagreement:

[Po_d Mainiac]

22. Where's the 'Death Certificate' n/t

[Hugin]

23. It's in the box of tapes we won't be hearing in the Fall of '12. n/t

[Demeter]

86. Buried at sea with the body

I can't believe these people.

[Pale Blue Dot]

5. Silver Plunges On China Slowdown Concerns, Dollar Short Covering

In early trading, silver is down nearly 20% from Friday highs, and just under 15% from its Friday closing fixing, hitting just over $42 in a slide of $6 commencing just after 18:25 pm. The reason for the collapse is not immediately clear, although concerns of a Chinese slowdown and overtightening are rumored to have been among the culrpits. The circumstantial evidence is in the OZ pairs, with the AUDUSD which has long been a high beta proxy for China plunging in early trading as well. Oddly enough, gold has been spared most of the carnage in silver, and was down about 1% in early trading. Overall, this appears to be nothing more than a short covering episode in the USd provoked by nothing factual. We will keep an ear open for any incremental data to determine if there is any actual reason for the plunge, such as for example that the BOJ has suddenly decided not to pick up the baton in trillions of monetizations over the next few months, instead of just another bout of technical selling.

http://www.zerohedge.com/article/silver-plunges-china-slowdown-concerns-dollar-short-covering

[xchrom]

7. The sparkle dims

http://www.arabianbusiness.com/the-sparkle-dims-396812.html

The Beirut Central District is home to the country’s foremost jewellery souk. The rich Ottoman style architecture of one of the landmark buildings is befitting of the glitzy jewels that are displayed in the windows. At night, the riveting gems and precious metals come alive, sparkling intensely under the bright lights. But on this Wednesday evening, the souk’s alleys are empty but for a few saleswomen peaking behind the glossy doors of the luxury stores.

“The early months of 2011 have been disastrous for us and this is the first time that we have actually registered a loss,” says jeweler Imad Baadarani, who’s been in the jewellery business for over 20 years.

According to statistics provided by the Lebanese Chamber of Commerce, Lebanese jewellery exports reached nearly $1.1bn in 2009. One of the main destinations of Lebanese jewellery outside the country is Switzerland. Mohamed Chamsedine from research firm Informational International explains that Lebanese exports to Switzerland accounted for $451m in 2006.According to industry insiders, however, export figures could be higher as many Lebanese jewellers fail to disclose the real value of exported items.

To try curtailing the adverse effects resulting from local and regional instability, many jewellers have also established distribution networks in the Gulf. The more elaborate items, like large jewellery sets decked with diamonds or precious stones that are worth hundreds of thousands of dollars, are usually exported. Boghos Kurdian, president of the Lebanese Syndicate of Goldsmiths and Jewellers, estimates exports to the Gulf account for about 50 percent of total gold sales.

[Pale Blue Dot]

9. Silver Down 12%, Big Default Rumored at Comex

Silver in particular has been closely watched due to the presence of very large short interests which were apparently partially closed out late last week leading to some very serious intraday volatility. Today we have this cheery development, courtesy Jesse:



Now this wild ride might not be newsworthy in and of itself, but it is also accompanied by rumors of Serious Pain, presumably at JP Morgan, which quite a few market participants think has been on the wrong side of this trade:

The Comex is facing a default, and the powers that be are very nervous since it involves at least one of the TBTF monstrosities.

Shock and awe in the thin Sunday night trade, running the stops of the new futures holders whose options were filled. Even more heavy handed and blatant than usual.

http://www.nakedcapitalism.com/2011/05/silver-down-12-big-default-rumored-at-comex.html

[xchrom]

14. oh. man. -- this could be juicy. nt

[Po_d Mainiac]

19. Major games

4 margin hikes in a single week, including 2 since noon o'clock Friday, and the price has been able to bounce back to above support at $45.

If this was a Morgue play to save COMEX, it's pretty much failed.

Hard holders should come out fine as the paper players get taken outa the room feet first. Major dealers are still out of ASE's, Philharmonics, and maple leafs. These same houses are still paying over spot for 99.99% rounds and bars.

BTFD...YMMV

[maddogesq]

37. Dealer I went to Friday paid $1.70 over spot.

Yep, I got freaked out by the margins thing so I bugged out. Paper holders may not be so fortunate.

[Roland99]

33. Karma's a bitch.

[Po_d Mainiac]

51. Yup, Ag got crushed back to levels not seen since

last Wednesday?

[Pale Blue Dot]

53. Good catch. nt

[Roland99]

64. heh...well...if JPMorgan is losing money in the process...

fine by me.

Anyone heard any updates on their silver manipulation?

[Demeter]

39. there were those rumors

that JPMorgan had inherited all that silver paper and couldn't unwind it fast enough...and Keiser has been trying to bankrupt them with his "buy a silver coin" campaign.

Maybe he got the job done?

[Po_d Mainiac]

78. This makes the third time margins have been raised when spot

closed on a 10X handle. The first was at $40 and now two separate exchanges moved the goal posts back whet $50 was within easy field goal range.

The question: Is the price being moved to suppress, in order to cut losses on 'short' positions? Or is this a short term play to allow for a lower entry position by a big player? If so, it would be some very deep pockets with enough clought to get exchanges to do the heavy lifting for them.

As for the COMEX, there does appear to be a serious problem if 'longs' take delivery to a facility not owned by one of the 'guardians' ala UT's recent Au position.

[xchrom]

26. Silver tumbles in Asian trading after six-week surge

http://latimesblogs.latimes.com/money_co/2011/05/silver-price-plunge-gold-futures-dollar-inflation-.html

The silver market's infamous volatility was on display in early Asian trading Monday, as futures prices plunged more than 13% as markets opened.

Near-term futures on the electronic Globex market sank as low as $42.20 an ounce, down $6.38, or 13.1%, from Friday's closing price of $48.58 an ounce in New York.

There was no apparent trigger for the sell-off, other than profit-taking after last week's price surge. Silver soared 5.5% last week to a 31-year high, the sixth straight weekly advance. The price has jumped from $31 at the start of the year.

By 5:45 p.m. PDT, about two hours into Asian trading Monday, silver had rebounded to $45.22 an ounce.

[xchrom]

60. Gold off record, silver slides on bin Laden

http://www.reuters.com/article/2011/05/02/us-markets-precious-idUSTRE73786N20110502

(Reuters) - Gold prices slipped from record highs on Monday and silver was on track for its biggest one-day loss since December 2008 after news that al-Qaeda leader Osama bin Laden was killed in a U.S.-led operation in Pakistan.

Spot gold fell to nearly $1,540 an ounce after earlier hitting a fresh record high at $1,575.79. By 1044 GMT it had recovered to $1,556.20 an ounce against $1,563.65 late in New York on Friday.

Silver was bid at $45.36 an ounce against $47.80, having earlier fallen as low as $43.04.

Oil and gold fell as news of the death stripped out some of the risk premium that has been underpinning commodity prices, while the dollar rebounded from three-year lows, further pressuring gold, and stock markets climbed.

[Pale Blue Dot]

70. ...and it's right back up again. nt

[Pale Blue Dot]

72. Silver Retraces Two Thirds Of Overnight Hit Job, Crude At Highest Since August 2008

And so once again rumors of silver's demise appear largely exaggerated: after plunging 15% last night, getting all the top callers to once again proclaim victory after having been wrong for the good part of about one decade, silver has since retraced a key Fib level and has now recovered over two thirds of the drop. At this rate, at least a few more margin hikes will be desperately needed today to throw all available speed bumps in the path of the unstoppable metal. In the meantime as expected last night's forced plunge was a gift for anyone who bought at $42 and has made over 10% already. Elsewhere, crude is approaching $115, after hitting $110 overnight. It is now at the highest price it has been since August 2008, and guaranteeing $5 gas by the summer. So much for the bin Laden inverse rally in commodities.

http://www.zerohedge.com/article/silver-retraces-two-thirds-overnight-hit-job-crude-highest-august-2008

[Po_d Mainiac]

80. IMHO The fundamentals have not changed

Most of the PM bulls are not so-much investing, as hedging the further demise of fiat currencies. (Note the use of plural)

Eurozone bailouts either continue, or the Finns kill the EUD. (Either way the Euro de-values) BoJ is increasing their money supply, and QE continues till at least June.

PM's have a 5,000 year history as barter mediums. FRN's, Euro's, and the Yen..not so much.

The resiliency of the market indicates that there is a lot more faith in metals than paper notes. Add to the mix the possibility of PBoC hedging the expected loss on $1.7T in treasuries (or at least the $1T they plan on holding) and the dips may get tougher to instigate.

Now if the bernake would just take an hour from his busy schedule of wiping the backsides of 'Gods workers' and hold a press conference, that 5 handle could easily end up on the Ag spot quote. :evilgrin:

YMMV

[Pale Blue Dot]

89. It's "crashing" again.

Down more than $3 in the past couple of hours.

[xchrom]

8. UK's Gatehouse inks $87.9m deal for Rolls-Royce factory

http://www.arabianbusiness.com/uk-s-gatehouse-inks-87-9m-deal-for-rolls-royce-factory-397316.html

Gatehouse Bank, a subsidiary of Securities House Kuwait, said Monday it had acquired the Scotland manufacturing facility of Rolls-Royce in a transaction valued at £52.7m ($87.96).

The contract brings the property portfolio of the London based Sharia-compliant bank to more than £200m ($256.8m), following deals for student accommodation and the UK headquarters of hotel chain InterContinental.

The manufacturing and logistics hub in Glasgow has been purchased with Rolls-Royce as a confirmed tenant until July 2022. According to Gatehouse, the lease has minimum fixed annual rental uplifts of 1.4 percent and will deliver an annual cash yield of 8 percent – or £4.8m – over three years

[xchrom]

11. Why it's time to lift the veil on analysts

http://www.arabianbusiness.com/why-it-s-time-lift-veil-on-analysts-396685.html

What would be your dream job? Astronaut? Rock star? Footballer?

We can all dream I guess, but realistically, none of the above will ever be on the radar for most people. Though there is one group of individuals who I have always envied. They are truly living the dream, able to do and say as they please, and rarely held to account. And bringing in big bucks. I’m talking about analysts.

As the great Warren Buffett once so eloquently said about them, “Wall Street is the only place people ride to in a Rolls Royce to get advice from people who take the subway”.

Wall Street, and for that matter most of the world’s stock markets, are littered with tales of companies that have been ravaged by the thoughts and whims of analysts. The Gulf is no different — I know of several CEOs who have told me off the record their complete bewilderment at the reports many analysts put out on their companies, often to devastating effects.

[Demeter]

41. I don't think they take the subway anymore

I think the analysts are highly overpaid these days, esp. based on their performance.

[xchrom]

16. asia: China has tool-box to help head-off high-speed crash

http://www.atimes.com/atimes/China_Business/ME03Cb01.html

China's Ministry of Railways recently announced its high-speed trains will run slower in order to cope with problems of high operating costs and low passenger figures. This was promptly seized upon as a matter of important symbolism ... for the United States.

Charles Lane, an irregular contributor to the Washington Post's famously right-wing op-ed page, echoed the view of many conservative pundits when he wrote that the Chinese move


vindicated Republican opposition to President Barack Obama's plans for high-speed rail in the United States.

Lane wrote:

Meanwhile, in the United States, Obama's high-speed rail plan, originally set at $53 billion over six years, has gotten a thorough democratic vetting. Three freshly elected Republican governors spurned federal dollars for high-speed rail, fearing a long-term burden on their budgets; homeowners in liberal Northern California are fighting construction through their neighborhoods; and the president agreed with Congress to trim current-year spending as part of a budget deal.

On the whole, I'd say China should envy us. <1>

In Lane's view, partisan gridlock will allow the United States to avoid the perils of socialist big-government planning and enjoy the enviable economic trifecta of decaying infrastructure, sluggish growth, and high employment.

[xchrom]

17. Taiwan's petro giants can gain from US$20 bn 'green' u-turn

http://www.atimes.com/atimes/China_Business/ME03Cb02.html

TAIPEI - A US$20 billion petrochemical project has been turned down in Taiwan, setting a landmark in the country's environmental movement and perhaps in its industry policy. The government is now facing growing pressure to allow upstream petrochemical industries to go to mainland China. Alternative destinations in Southeast Asia are also speculated.

When Taiwan's Minister of Economic Affairs Shih Yen-shiang visited the National Federation of Industries on April 27, he found


himself greeted by banners and signs that read "Grief" and "Industries shattered by policy u-turn".

He was not surprised. He was there to listen to complaints by industry leaders frustrated over the demise of the Kuokuang petrochemical plant project off the shore of Dacheng Township, Changhua County, on the island's west coast.

On April 22, President Ma Ying-jeou said he had prioritized environmental protection and "doesn't support that Kuokuang petrochemical plant be built in Changhua". The announcement came after two days of intense confrontation at a crucial environmental impact assessment (EIA) meeting that meeting concluded with dual recommendations as "disapproval" and "conditional approval" for a final EIA conference to choose. The result pleased neither developers nor opponents.

[xchrom]

65. Trade surplus up as ships, petrol do well

http://joongangdaily.joins.com/article/view.asp?aid=2935578

Korea’s trade surplus surged to $5.82 billion in April, up sharply from $2.78 billion the previous month on the strength of record-high exports, a government report showed yesterday.

April marks the 15th straight month the country has posted a favorable balance. Exports rose 26.6 percent on-year to a monthly high of $49.77 billion last month, with imports rising 23.7 percent to $43.95 billion, according to the report by the Ministry of Knowledge Economy.

Outbound shipments surpassed the previous high of the $48.07 billion tallied in March, with the daily export average topping an all-time high of $2.12 billion during the month, exceeding the previous record of $2.03 billion set in February.

[xchrom]

66. North may have staged online attack

http://joongangdaily.joins.com/article/view.asp?aid=2935576

Korean prosecutors have tentatively concluded that the recent hacking of one of Korea’s largest financial firms was conducted from outside of the country, an official said yesterday.

Korea’s prosecution has been looking into whether North Korea was involved in the weeks-long paralysis of the South Korean farm cooperative’s banking system after finding some suspicious Internet protocol (IP) addresses originating from China.

The prosecution official said it is too early to conclude whether the IP addresses have been linked to North Korea, but said the investigators plan to announce their probe results as early as later this week.

[xchrom]

71. N.Korean Hackers Fingered in Cyber Attack on Bank

http://english.chosun.com/site/data/html_dir/2011/05/02/2011050201245.html

The Seoul Central District Prosecutor's Office has apparently concluded that North Korean hackers were behind a cyber attack on agricultural cooperative lender Nonghyup. The office believes hackers planted a virus in a laptop owned by an IBM Korea employee who was in charge of maintaining the computerized network at the lender, causing it to order the network to shut down.

The IBM employee's laptop turned into a so-called "zombie PC" that was infected with a malicious program through a website or spam mail and then used to launch a cyber attack.

[xchrom]

67. Finance ministry may cut economic forecast

http://joongangdaily.joins.com/article/view.asp?aid=2935583

The Korean government is considering lowering its projection of economic growth in 2011 to around the upper range of 4 percent while upping its inflation projection to the upper range of 3 percent, due to rising oil prices, sources said yesterday.

The government has been targeting around 5 percent economic growth this year while containing inflation at 3 percent but mounting inflationary pressure is making it hard for the government to attain such goals.

“Unpredictable factors have cropped up, like surges in oil prices and the outbreak of foot-and-mouth disease, since the government unveiled its 2011 growth target late last year,” said an official at the finance ministry.

“The government is considering reviewing macroeconomic data by taking into account these factors.”

[xchrom]

69. Pirates nab Singapore ship with Korean crew

http://joongangdaily.joins.com/article/view.asp?aid=2935595

A Singaporean vessel carrying 25 crew members, including four Koreans, was hijacked by suspected pirates in waters off Kenya on Saturday, the ship’s manager said yesterday. Seoul’s Ministry of Foreign Affairs and Trade confirmed it, but further information was not available.

Glory Ship Management said in a statement that its MT Gemini was passing through waters off Mombasa, Kenya, when suspected pirates seized the vessel. The chemical tanker was delivering crude oil from Indonesia, the company said. The pirates are now believed to be moving the vessel to Somalia, it said.

[xchrom]

73. Samsung, Apple Face Off with New Smart Devices

http://english.chosun.com/site/data/html_dir/2011/05/02/2011050201047.html

Samsung Electronics and Apple, currently in a bitter dispute over patents, stepped up their battle for the Korean market with the introduction of new smart devices last week.

Samsung's Galaxy S2 smartphone is enjoying a warm welcome, with pre-orders alone at three major mobile operators exceeding 200,000.

Mobile operator SK Telecom said it took over 160,000 pre-orders for the successor to the Galaxy S between 3 p.m. last Monday and midnight last Friday. That’s equivalent to one every two seconds. The number reached 10,000 in just 29 minutes after starting to take pre-orders and 20,000 in 64 minutes.

LG Uplus said it has received more than 30,000 pre-orders for the smartphone since April 21. While KT has not disclosed its figures, some 200,000 units are estimated to have been sold so far through the three mobile network providers.

[xchrom]

82. Global house prices Hong Kong phew-whee

http://www.economist.com/node/18285595

IN CROWDED Hong Kong, property is so expensive that even the estate agents are squeezed for space. The number of licensed agents reached 31,306 at the end of last year, an increase of 40% since March 2009. The qualifying exam is so popular that fees are going up. Golden Hill Properties in Wanchai makes do with a storefront but no store. Its agents perch on stools outside, reading from computer screens encased behind glass and typing on keyboards unlocked from a drawer.

But whatever those 31,000 agents say, Hong Kong homes are not a good deal, according to our latest global house-price index (see chart). In theory, the price of a home should reflect the value of the services it provides. People who choose to rent their homes buy those services on a monthly basis. Home prices should therefore reflect the rents that tenants pay. Our index calculates the ratio of prices to rents in 20 economies. In Hong Kong, that ratio is now almost 54% above its long-run average—and it is still rising.

[Pale Blue Dot]

18. Banks Buying Most Treasuries in Nine Months in Signal of Slowing Recovery

U.S. banks are buying Treasuries at the fastest pace in nine months as lenders retreat to the safety of government debt with the economy expanding slower than forecast and loan demand dormant.

Commercial banks bought $65 billion of U.S. debt in the past seven weeks, as their total holdings reached $1.68 trillion, Federal Reserve data show. The purchases were the most since $79.1 billion in the period ended July 21, just before the recovery began to falter and Fed Chairman Ben S. Bernanke signaled policy makers would conduct a second round of bond purchases to spur growth.

Economists from JPMorgan Chase & Co., the second-largest U.S. bank by assets, to Credit Suisse Group AG, the No. 2 Swiss lender, are lowering growth forecasts as rising fuel prices cut disposable income and housing prices continue to fall. Bonds are helping bolster earnings as the Fed keeps its target interest- rate for overnight loans between banks at a record low.

“The idea that we’re going to see anything remotely approximating robust growth is quickly fading,” said Jeffrey Caughron, a partner at Baker Group LP in Oklahoma City who advises community banks on investments of more than $30 billion. “They simply don’t have the loan demand, or good loan demand. They have to keep their money working for them, so there’s no place else to go but the bond market.”

http://www.bloomberg.com/news/2011-05-02/banks-buying-most-treasuries-in-nine-months-in-signal-for-slowing-recovery.html

[Po_d Mainiac]

21. Riigght.

Primaries are rolling them onto the FED's books before the ink dries.

[Pale Blue Dot]

20. Dollar Rebound Delayed to ‘12 as Fed Policy Meets Slower Growth

Slowing U.S. growth and the widening interest-rate gap between America and the rest of the world may mean no rebound this year for the dollar, the world’s worst- performing major currency in the past three months.

The Federal Reserve’s U.S. Trade-Weighted Major Currency Dollar Index fell to a record low last month after policy makers in Australia and Canada, and the European Central Bank raised rates to damp inflation. Even after the declines, strategists from Barclays Plc and Morgan Stanley are cutting their forecasts for the greenback.

Optimism that the dollar would strengthen as soon as June when the Fed stops printing cash to buy $600 billion of Treasuries is giving way to bearishness after the economy slowed more than forecast last quarter and the Fed said record low rates are needed to foster growth. While a weaker dollar may signal waning confidence in the U.S., it may help President Barack Obama reach his goal of doubling exports by 2015 and reducing unemployment.

The dollar is “probably going to get even cheaper,” said Thomas Stolper, the chief currency strategist at New York-based Goldman Sachs Group Inc., the fifth-biggest U.S. bank. The outlook for growth in the next few months “doesn’t look particularly strong,” he said in a phone interview last week.

http://www.bloomberg.com/news/2011-05-02/dollar-rebound-delayed-to-2012-as-fed-policy-conspires-with-slowing-growth.html

[Hotler]

24. k&r Good morning everyone. n/t

[xchrom]

25. Through grants, small tech firms put government tax dollars to work

http://www.latimes.com/business/la-fi-smallbiz-fedgrants-20110502,0,6181191.story

M4 Engineering Inc., a small company in Long Beach, has figured out how to use tax dollars to prosper.

Not its tax dollars. The company — which provides structural analysis, consulting and software development for aerospace firms — has leveraged a string of federal research grants into products and services it sells to clients.

It has even spun off a small company, Modular Wind Energy Inc. of Huntington Beach, which uses M4's federally funded research to develop lighter and cheaper blades for wind turbines.

"What we have tried to do is take that money from the government and, sure, do good research for the problem the government is interested in, but also try to turn that into something much bigger, said Kevin Roughen, M4's vice president.

[xchrom]

27. Ponzi, Ponzi, Ponzi: Your weekly ScamWatch

http://latimesblogs.latimes.com/money_co/2011/05/ponzi-ponzi-ponzi-your-weekly-scamwatch.html

Here is a roundup of alleged cons, frauds and schemes to watch out for.

The term “Ponzi scheme,” named after swindler Charles Ponzi, refers to a financial scam that pays early investors returns from later investors. Victims are often attracted by promises of high returns with little or no risk, something that’s unavailable through traditional investments and often is a sign of trouble. This week’s ScamWatch highlights recent enforcement actions against the operators of three alleged Ponzi schemes.

Investment advisors -- A Topanga man has been charged with running a 15-year Ponzi scheme that targeted retired train and bus operators and caused more than $7 million in losses. Thomas L. Mitchell, 64, signed an agreement April 8 to plead guilty to mail fraud, a charge that carries a maximum sentence of 20 years in federal prison. Mitchell operated several companies as part of the scheme, including the purported investment advisory firm of Mitchell, Porter & Williams Inc. in Los Angeles. According to court documents, Mitchell targeted retirees, many of whom had been employed as transit operators by the Los Angeles County Metropolitan Transportation Authority, during a scheme that ran from 1995 to 2010. Mitchell portrayed himself as a successful investment advisor and falsely promised high investment returns through stocks, bonds or real estate. Prosecutors say Mitchell placed only a fraction of investor money in legitimate investments and used the rest to pay returns to early investors and to finance his own lavish lifestyle, which included a luxury apartment, three luxury automobiles, expensive vacations, meals at high-end restaurants and tickets to sporting events and shows. About half of the investors’ money was used to pay returns to early investors, prosecutors said.

[xchrom]

28. Retail roundup: Mother's Day, Glendale Galleria to get makeover, Dov Charney reduces stake

http://latimesblogs.latimes.com/money_co/2011/04/retail-roundup-mothers-day-glendale-galleria-to-get-makeover-dov-charney-reduces-stake-.html

-- Good news, moms: Mother's Day spending is expected to return to 2008 levels, according to a National Retail Federation survey. The retail group said the average person celebrating the holiday is expected to spend $140.73 on gifts, up from $126.90 last year. Men will spend an average of $168.84 on the women in their life this Mother’s Day; women will spend an average of $114.01. Adults 25 to 34 years old will spend the most ($191.35), followed by 18-to-24-year-olds ($183.38) and 35-to-44-year-olds ($155.97).

[xchrom]

29. Despite friction in China, Google digs in

http://seattletimes.nwsource.com/html/businesstechnology/2014924330_btgooglechina02.html

BEIJING — Google may appear to be under siege in China, but a sense of normalcy — Google style — pervades the company's headquarters here.

Googlers, when they are aren't writing codes or working on new advertising strategies, line up for five-star meals, attend in-house yoga classes and pedal mini bicycles down hallways at the 10-floor outpost.

The Mountain View, Calif., search giant recently opened the doors of its Beijing facility to give a rare glimpse of its operations since its continuing skirmishes with the Chinese government got under way more than a year ago.

"There have been some changes," said Xi Cheng, an Oxford-educated Googler working on the translate team and one of scores of brainiacs that still populate the company's ranks in Beijing and Shanghai. "But we are still here. And it's still business as usual."

[xchrom]

30. Modular-housing entrepreneur

http://seattletimes.nwsource.com/html/businesstechnology/2014924301_inpersonsperling02.html

Three years ago Dale Sperling was running one of Seattle's most prominent real-estate investment companies — and telling anyone who would listen that factory-built, modular apartments were the next big thing.

Today's he's running his own tiny startup — and telling anyone who will listen that factory-built, modular apartments are the next big thing.

That's what his new company, OneBuild, is all about. It plans to build prefabricated, modular, wood-frame units that developers can assemble into apartments, motels, student housing, military housing — all kinds of projects.

Modular consumes him, says Sperling, an avid skier. "I don't ride up a chairlift without thinking about this stuff."

[xchrom]

31. india: Manufacturing rolls ahead in India, slows in S.Korea, China

http://in.reuters.com/article/2011/05/02/idINIndia-56704120110502?type=economicNews

(Reuters) - India's manufacturing growth picked up in April to reinforce expectations the Reserve Bank of India (RBI) will raise interest rates this week, while China's factory sector cooled to suggest monetary tightening was biting into the economy deeper than expected.

India's manufacturers expanded in April for the 25th consecutive month and at their strongest pace since November, an HSBC Markit purchasing managers' index showed on Monday.

The PMI rose to 58.0 from 57.9 in March. A reading above 50 indicates expansion, while a reading under 50 to contraction.

Inflation indicators in the monthly report showed some easing in price pressures, but from elevated levels, to suggest the RBI will raise interest rates on Tuesday for the ninth time since March 2010.

[xchrom]

34. Indian shares drop 0.7 pct on rate jitters; lenders fall

http://in.reuters.com/article/2011/05/02/india-stocks-idINL3E7G219Z20110502

NEW DELHI, May 2 (Reuters) - Indian shares dropped for the sixth straight session on Monday, with banking stocks leading the losses, as investors braced for another round of interest rate hike at the central bank's annual policy statement on Tuesday.

Top lender State Bank of India fell 4 percent as Morgan Stanley downgraded it along with some other state-run banks, citing pressure on the lenders' net interest margins.

Shares in Infosys closed 0.6 percent higher, after the country's second-largest software services exporter announced top-level management changes linked to the pending retirement of its chairman, which analysts said removed uncertainties around the succession plan.

"The mood is very cautious," said Rajesh Agarwal, head of research at Eastern Financiers, referring to the Reserve Bank of India's (RBI's) meeting. "What happens in the market in next 4-6 weeks will be determined tomorrow."

[xchrom]

48. FY12 growth to be good, but inflation may stay high: RBI

http://www.moneycontrol.com/news/economy/fy12-growth-to-be-goodinflation-may-stay-high-rbi_539736.html

On the eve of its annual Credit Policy, the Reserve Bank of India has released its macroeconomic report.

In its report, the central bank has said that the macroeconomic outlook for fiscal year 2012 remains favourable aided by predicted normal monsoon, demand conditions and positive lead indicators for services. "GDP growth during 2010-11 reverted to its recent trend, aided by a rebound in agricultural growth. Non-agricultural growth, however, was slightly below trend," the report said.

However, it added that inflation may remain elevated for some more time despite the current anti-inflationary bias in the monetary stance. "High oil and other commodity prices pose as the biggest risk to inflation and growth," the statement explained.


high inflation in india for a prolonged period?
wasn't that one of the elements for the arab spring?

[xchrom]

49. Auto sales in April slide on declining demand

http://www.moneycontrol.com/news/cnbc-tv18-comments/auto-salesapril-slidedeclining-demand_539696.html

ndia’s auto sales numbers in April have come as a major disappointment on the back of slowing demand due to rising financing rates. CNBC-TV18's Soniya Shenoy delves deeper.

Two-wheeler major Bajaj Auto's exports for the month doubled due to accounting on 32,000 units that were transited last month and not priced in then. This pushed the total sales to 3.67 lakh units. However, excluding that figure, Bajaj Auto has grown by just about 9% on a month-on-month basis at 3.35 lakh versus 3.07 lakh and on a year-on-year basis it has seen a growth of almost about 17% odd or so.

The management has indicated that they may hit a run-rate of 4 lakh units per month in this particular quarter if all goes well with its sales especially for its Discover and the Pulsar models.

Along with Bajaj Auto, there has been a slippage in Maruti Suzuki numbers on a month-on-month level as well. Its total sales are down 20% to 27,155 units, while exports are down 13% and domestic sales dropped almost 21%. In fact, exports are the biggest disappointment for Maruti Suzuki as they have dipped on a year-on-year basis by almost about 23%.

[xchrom]

50. India gold seen recovering this week, could test peak

http://www.moneycontrol.com/news/commodities/india-gold-seen-recovering-this-week-could-test-peak_539743.html

India gold futures are likely to recover this week to re-test last week's record high supported by rising physical offtake ahead of a key gold buying festival later in the week, analysts said.

"Dollar is the major concern along with pick-up of marriage and festival demand would influence prices positively. Buying support could be seen at 22,350 levels. The longer term trend still remains up," said Pranav Mer, senior analyst with Mangal Keshav Commodities.

India, the world's largest consumer of the yellow metal, will celebrate Akshaya Tritiya on May 6.

[xchrom]

55. Morgan Stanley wary on financial sector, downgrades PSBs

http://www.moneycontrol.com/news/cnbc-tv18-comments/asset-quality-might-be-hit-says-morgan-stanley-report_539733.html

The Morgan Stanley report has downgraded PSU banks. CNBC-TV18's Avni Raja reports more.

Morgan Stanley's report has downgraded PSU banks and has moved to a cautious view on the Indian financial services sector. They have cut ratings on banks like State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BoB), Bank of India (BOI) and Canara Bank to underweight. They have gone down neutral weight on Union Bank, Corporation Bank and Oriental Bank of Commerce. They expect the revenues to slowdown and stock performance to dampen over the next two-three quarters.

However, the top picks remains ICICI Bank and HDFC Bank. They expect NIMs to further decline by 40 to 70 bps going forward. Due to the hike in funding cost and because banks have raised their deposit rates aggressively, most of the lending rates have already been reflected in the NIMs.

[DemReadingDU]

35. Karl Denninger: TickerCon symbol now 1

a few snippets

5/1/11 @23:19 OBL Apparently Killed

This is going to go over real well in the Islamic world, not to mention between Pakistan and the US.

NOT.

Folks, be careful. ThreatCon has been raised at US military facilities (with damn good cause)

it is entirely reasonable to expect that this is going to be a serious alteration of events in the Middle East, in North Africa, and particularly in Pakistan, which, I will remind you, has nuclear weapons.

a bit more...
http://market-ticker.org/akcs-www?post=185323

previous posting from 4/28/11
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4830740&mesg_id=4830758

[xchrom]

40. reuters osama news link here [live]

http://live.reuters.com/Event/Osama_bin_Laden

[xchrom]

42. Dollar gains fizzle, euro up on PMI data

http://www.reuters.com/article/2011/05/02/us-markets-forex-idUSTRE73O2YU20110502

(Reuters) - The euro remained near a 17-month high above $1.48 on Monday as surprisingly strong manufacturing data in the euro zone bolstered the chances interest rates there could rise again to fend off inflation.

That contrasted with the situation in the United States, where the Federal Reserve is signaling it is in no rush to raise borrowing costs.

The dollar rose briefly and oil prices fell overnight after U.S. forces said they had killed al-Qaeda leader Osama bin Laden, but traders said the news was not enough to reverse the dollar-selling trend that has pushed the currency in recent weeks toward a record low against its major rivals.

"We've come a long way without a correction but there's really no sign of anything that would pull the euro lower right now," said Shaun Osborne, senior strategist at TD Securities. "We might take a look at $1.50" before any correction occurs.

[DemReadingDU]

46. Did I click on a wrong option?

On the left column, everything has a yellow box with a black X inside? What does this mean?

[xchrom]

47. i don't know -- i see it too. nt

[DemReadingDU]

52. oh ok

Maybe it is something to do with saving resources? But it used to be if there was a lot of usage, the avatars would be eliminated first. It is curious, and I see these yellow 'X' boxes in all forums.

[xchrom]

58. i see a signatures offline due to high traffic note. nt

[Pale Blue Dot]

68. That means that traffic to the site is extremely heavy.

The admins are disabling features to ensure that the site runs smoothly.

[xchrom]

56. Teva to Buy Cephalon for $6.8 Billion, Topping Valeant Bid

http://www.businessweek.com/news/2011-05-02/teva-to-buy-cephalon-for-6-8-billion-topping-valeant-bid.html

May 2 (Bloomberg) -- Teva Pharmaceutical Industries Ltd., the world’s largest generic-drug maker, agreed to buy Cephalon Inc. for $6.8 billion, trumping a hostile offer from Valeant Pharmaceuticals International Inc.

The boards of Teva and Cephalon unanimously approved the deal, the companies said in a statement today. Petah Tikvah, Israel-based Teva will pay $81.50 a share in cash, or a total enterprise value of about $6.8 billion.

Buying Cephalon will help Teva offset the revenue it may lose as its top-selling product, the multiple sclerosis drug Copaxone, faces competition from generic versions and new branded products. Copaxone accounted for 21 percent of Teva’s revenue in 2010. With Frazer, Pennsylvania-based Cephalon, Teva will have $7 billion in branded-drug sales a year and one more blockbuster, the narcolepsy treatment Provigil.

“It was very expected and clear Teva will buy a large company,” Gilad Alper, a senior analyst at Meitav Investment House Ltd. said by telephone today. The purchase will add about 14 percent to Teva’s revenue, in addition to growth from existing products, he said.

[xchrom]

57. Return on Equity at 10-Year High Fails to Drive Valuations

http://www.businessweek.com/news/2011-05-02/return-on-equity-at-10-year-high-fails-to-drive-valuations.html

May 2 (Bloomberg) -- U.S. companies, earning more from investments in plants and labor than any time in the last decade, have yet to reap the benefits in their stock valuations.

Return on equity at International Business Machines Corp. has risen to 68 percent this year from 24 percent in 2005 after the Armonk, New York-based company sold its personal-computer business and reorganized staff. Net income per employee rose to $34,758 in 2010, the highest since at least 1987, according to data compiled by Bloomberg. The stock, up 108 percent since the end of 2005, trades 16 percent below its average price-earnings ratio during the past decade.

IBM’s example mirrors the Standard & Poor’s 500 Index, where return on equity has risen six quarters to 23 percent and may reach 27 percent next year, the highest annual level since 2000, analyst estimates compiled by Bloomberg show. That may help stocks overcome economic growth that slowed to 1.8 percent last quarter and extend the best bull market in 54 years.

“We’ve had a phenomenal recovery in corporate profits and productivity on a very subpar economic recovery,” said Nick Sargen, chief investment officer at Fort Washington Investment Advisors in Cincinnati, which oversees more than $36 billion. “If you agree that’s sustainable, then you’re willing to pay more for those companies’ future earnings than the guy who thinks this is just temporary. There’s more legs to the rally.”

[xchrom]

59. U.S. War Spending to Drop to “Only” $360 Million a Day

http://www.allgov.com/Where_is_the_Money_Going/ViewNews/US_War_Spending_to_Drop_to_Only_360_Million_Dollars_a_Day_110502

The United States is spending less these days on its overseas wars, compared to the peak period a few years ago. But that doesn’t mean the cost of continuing combat operations isn’t absorbing a tremendous amount of money.

Not including the normal defense budget, funding for the wars in Afghanistan and Iraq will pass $1.4 trillion in the coming year. Since September 11, 2001, war spending peaked in 2008 at $186 billion. The following year, combined spending for Afghanistan and Iraq dipped to $155 billion, before rising up to $165 billion in 2010 and $168 in 2011.

Now, it’s “really” down—to $131.6 billion—for 2012. That averages out to about $360 million a day…or $250,000 a minute.

[xchrom]

61. europe: European shares hit 2-month high; earnings to help

http://www.reuters.com/article/2011/05/02/markets-europe-stocks-idUSLDE7410O120110502

LONDON, May 2 (Reuters) - European shares hit a two-month high in holiday-thinned trade on Monday on optimism the earnings season will stay strong in the near-term and in a knee-jerk reaction to news al Qaeda leader Osama bin Laden was killed.

Bin Laden's death in a shootout with U.S. forces in Pakistan on Sunday ended a nearly 10-year worldwide hunt for the mastermind of the Sept. 11 attacks and prompted equity investors to believe global risk threats might reduce.

Although analysts said that the positive impact of the news might be short-lived and focus will soon shift back to economic fundamentals and company earnings.

At 0735 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.3 percent at 1,160.03 points after touching 1,162.05, the highest since early March. The Euro STOXX 50 .STOXX50E -- an index of the euro zone's top blue chips -- was up 0.3 percent at 3,021.50 points.

[xchrom]

62. Stocks rise, dollar pares gains on bin Laden news

http://www.reuters.com/article/2011/05/02/us-markets-global-idUSTRE71H0EB20110502

(Reuters) - The killing of al Qaeda leader Osama bin Laden lifted global stocks and eased oil prices on Monday but the U.S. dollar pared gains on the view the importance of his death was ultimately negligible.

Wall Street opened higher and European shares rose for a eighth straight session fueled by earnings optimism and bin Laden's death acting as a short-term incentive.

U.S. Treasury prices slipped after the killing of the al Qaeda leader reduced the perception of geopolitical risk and the appetite for safe-haven bonds.

The benchmark 10-year U.S. Treasury note was down 3/32 in price to yield 3.30 percent.

[xchrom]

63. Manufacturing slows for second month in April: ISM

http://www.reuters.com/article/2011/05/02/us-usa-economy-idUSTRE73D8GJ20110502

Reuters) - The pace of growth in the U.S. manufacturing sector slowed in April for a second straight month but input prices were at their highest in nearly three years, according to an industry report released on Monday.

The Institute for Supply Management said its index of national factory activity fell to 60.4 in April from 61.2 the month before. The figure topped economists' forecasts for a reading of 60. The index for prices paid rose to 85.5 from 85, the highest since July 2008.

[xchrom]

76. australia: Banks on brink of $11.8b profit bonanza

http://www.news.com.au/business/banks-poised-for-118b-bonanza/story-e6frfm1i-1226048201800

AUSTRALIA'S largest banks are poised to report record profits totalling $11.8 billion this year.

ANZ Banking Group, Westpac Banking Corporation and National Australia Bank are expected to report first-half cash earnings of $2.818 billion, $3.111 billion, and $2.557 billion respectively this week.

Commonwealth Bank reported interim cash earnings of $3.335 billion in February - a 14 per cent jump on the previous corresponding period.

If the consensus estimates for its three rivals are accurate, this will put the big four on the front foot for another record year of profits underpinned by $11.8 billion in half-year cash profits, which is also 14 per cent up on the previous year.


Read more: http://www.news.com.au/business/banks-poised-for-118b-bonanza/story-e6frfm1i-1226048201800#ixzz1LCyQvtng

[xchrom]

77. House prices fall more than expected

http://www.news.com.au/business/breaking-news/house-prices-fall-more-than-expected/story-e6frfkur-1226048317018

AUSTRALIAN capital city house prices fell more than the market expected, led by big falls in Brisbane and Melbourne.

The Australian Bureau of Statistics (ABS) house price index was down 1.7 per cent in the March quarter, compared with an upwardly revised 0.8 per cent rise in the house price index for the December quarter.

In the year to March, the index fell 0.2 per cent, the ABS said today.

The market had forecast a fall of 0.5 per cent in the March quarter, for a year-on-year rise of 1.6 per cent

Read more: http://www.news.com.au/business/breaking-news/house-prices-fall-more-than-expected/story-e6frfkur-1226048317018#ixzz1LCyurVQx

[Pale Blue Dot]

79. Shoppers should get ready to pay more at register

CINCINNATI — Households reeling from gasoline near $4 also face bigger bills for everything from changing their babies' diapers to wiping their noses to treating themselves to ice cream.

Major makers of everyday consumer products and groceries say they have to raise prices to offset soaring costs for their fuel and the materials and ingredients that go into their products.

Retailers are trying to pass that along at the cash register, adding pressure on a sluggish U.S. economic recovery.

The list of companies saying this week that they are raising prices is long: Kimberly-Clark (KMB) (Huggies diapers, Kleenex facial tissue); Procter & Gamble (PG) (Pampers diapers, Gillette shavers); Unilever (UL) (Dove soap, Ben & Jerry's ice cream); Colgate-Palmolive (CL) (toothpaste, soap); and PepsiCo (PEP) (soft drinks, Frito-Lay snacks).

http://www.usatoday.com/money/economy/2011-05-01-rising-prices_n.htm

[Viva_La_Revolution]

81. I noticed it Friday at Winco

Usually I can get out of there with a week's worth for under $150. The bill was over $160 cause the price of coffee, meat and paper products shot up.
:(

[Po_d Mainiac]

84. Transitory...n/t

[Demeter]

87. Yeah, right.

Like winter (tonight's low in 30's, for rest of week, more of the same...)

[xchrom]

83. U.S. and China factories slow; Europe, India boom

http://uk.reuters.com/article/2011/05/02/uk-global-economy-idUKTRE7412ZZ20110502

(Reuters) - Manufacturing growth softened in the United States and China but firmed in Europe and India, according to reports highlighting the fractured nature of the global economic recovery.

The world's two largest economies both saw a tempering of factory production in April, with the pace of U.S. manufacturing expansion easing for a second straight month. Still, overall U.S. activity remained firm and input prices rose to their highest in nearly three years, according to the data from the Institute for Supply Management released on Monday.

ISM said its factory index fell to 60.4 in April from 61.2 the month before, above forecasts for a reading of 60. It has held above the 50-threshold that separates growth from contraction since August 2009, and peaked in February 2011.

Despite the decline, analysts were reassured there was not greater spillover into U.S. industry from Japan's earthquake.

[Fuddnik]

90. In other Nooz, Buckwheat is dead!

http://noolmusic.com/hulu_videos/saturday_night_live_buckwheat_dead_america_mourns.php

And High-O Silver!!!

No, I'm not drinking yet, but I'm ready.

[mrdmk]

91. k& r

[Festivito]

93. Debt: 04/28/2011 14,282,598,097,540.70 (DOWN 12,529,728,268.35) (Thu, DOWN some.)

(BACK UNDER the old debt limit of 14.294-trillion dollars by 11-billion dollars. Good day.)
Go Randi and bounce your boobies now.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,641,079,277,378.41 + 4,641,518,820,162.34
DOWN 7,710,203,842.40 + DOWN 4,819,524,425.95

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,206.25 makes 1T$.
A family of three: Mom, Dad, Child: $9.62, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,890,592 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,793.62.
A family of three owes $137,380.85. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 31 days.
The average for the last 21 reports is 3,382,401,648.07.
The average for the last 30 days would be 2,367,681,153.65.
The average for the last 31 days would be 2,291,304,342.24.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 143 reports in 210 days of FY2011 averaging 5.04B$ per report, 3.43B$/day.
Above line should be okay

PROJECTION:
There are 633 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 and 17.6T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
04/28/2011 14,282,598,097,540.75 BHO (UP 3,655,721,048,627.67 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,720,975,066,649.00 ------------* * * * * * * * * * * * * * * * * * BHO
Endof11 +1,253,123,330,128.02 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
04/07/2011 +002,235,163,853.48 ------------*********
04/08/2011 +000,001,314,747.36 ------------******
04/11/2011 +000,390,366,211.15 ------------******** Mon
04/13/2011 +000,216,450,469.86 ------------********
04/14/2011 +004,827,508,513.07 ------------*********
04/15/2011 +021,566,615,397.70 ------------**********
04/18/2011 +000,320,133,441.47 ------------******** Mon
04/19/2011 +000,498,845,624.51 ------------********
04/20/2011 +000,031,154,878.79 ------------*******
04/21/2011 -029,604,944,039.31 -
04/22/2011 +000,169,463,975.78 ------------********
04/25/2011 +000,297,069,525.13 ------------******** Mon
04/26/2011 +000,207,526,568.97 ------------********
04/27/2011 -002,332,483,455.54 --
04/28/2011 -007,710,203,842.40 --

-8,886,018,129.98 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008 while Bush was in power JUST BEFORE fiscal year end.
Bush admin borrowed $962,245,245,654.01 in those last 124 days in office crossing two fiscal years.
$360,093,093,653.42 in last 12 days of FY2008, and $602,152,152,000.59 in subsequent 112 days before leaving office.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4831959&mesg_id=4831970

[Festivito]

94. Debt: 04/29/2011 14,287,630,052,323.10 (UP 5,031,954,782.37) (Fri, UP a lot.)

(BACK UNDER the old debt limit of 14.294-trillion dollars by 6-billion dollars. Good day.)
The half shaft is fixed.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,654,950,165,830.41 + 4,632,679,886,492.71
UP 13,870,888,452.00 + DOWN 8,838,933,669.63

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,206.18 makes 1T$.
A family of three: Mom, Dad, Child: $9.62, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,897,792 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,808.69.
A family of three owes $137,426.08. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 31 days.
The average for the last 21 reports is 3,423,135,935.00.
The average for the last 30 days would be 2,396,195,154.50.
The average for the last 31 days would be 2,318,898,536.61.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 144 reports in 211 days of FY2011 averaging 5.04B$ per report, 3.44B$/day.
Above line should be okay

PROJECTION:
There are 632 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 and 17.6T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
04/29/2011 14,287,630,052,323.12 BHO (UP 3,660,753,003,410.04 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,726,007,021,431.40 ------------* * * * * * * * * * * * * * * * * * BHO
Endof11 +1,255,888,923,329.20 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
04/08/2011 +000,001,314,747.36 ------------******
04/11/2011 +000,390,366,211.15 ------------******** Mon
04/13/2011 +000,216,450,469.86 ------------********
04/14/2011 +004,827,508,513.07 ------------*********
04/15/2011 +021,566,615,397.70 ------------**********
04/18/2011 +000,320,133,441.47 ------------******** Mon
04/19/2011 +000,498,845,624.51 ------------********
04/20/2011 +000,031,154,878.79 ------------*******
04/21/2011 -029,604,944,039.31 -
04/22/2011 +000,169,463,975.78 ------------********
04/25/2011 +000,297,069,525.13 ------------******** Mon
04/26/2011 +000,207,526,568.97 ------------********
04/27/2011 -002,332,483,455.54 --
04/28/2011 -007,710,203,842.40 --
04/29/2011 +013,870,888,452.00 ------------**********

2,749,706,468.54 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008 while Bush was in power JUST BEFORE fiscal year end.
Bush admin borrowed $962,245,245,654.01 in those last 124 days in office crossing two fiscal years.
$360,093,093,653.42 in last 12 days of FY2008, and $602,152,152,000.59 in subsequent 112 days before leaving office.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4835361&mesg_id=4836594