USEC (USU +4.7%) says it will begin stopping uranium enrichment at the end of this month after failing to conclude a deal with the U.S. Department of Energy for an extension of enrichment at the Paducah Gaseous Diffusion Plant in Kentucky. The plant is the only U.S.-owned and operated uranium enrichment facility in the U.S. [View news story]
I am sure this is Obama at work here....no more nukes is the call
Bank lobbyists cut out the middleman, writing legislation softening financial regulations on their own instead of leaving it to lawmakers to draft the paperwork. A bill exempting broad swathes of trades from new regulation - which cruised through the House Financial Services Committee this month - was essentially written by Citigroup (C), according to emails reviewed by the NYT. Is this even news? Fans of The Aviator have seen it before. [View news story]
no its called guaranteed annual income for a politician because of donations that just pour in after these deals...
"The Real Bubble is Gold: and It's Deflating," writes MKM's Mike Darda, who says the key turning point was the metal's (GLD. IAU) failure to rally in wake of last fall's QE∞ inception. "Investors simply took it at face value that gold was soaring and would continue to rise because of (the Fed)." Inflation picking up will be even worse for gold, he says, as this would make the Fed an aggressive tightener of policy. [View news story]
There is a much bigger world out there than just the US Stockmarket and our inflation....much bigger...and they like gold...and they do not like the US dollar that much...
Even Japanese stocks are subject to the law of gravity (who knew?) as a confluence of factors sends the Nikkei (EWJ, DXJ) plunging 7.3% on the session (the swing from intraday high to low was ~9%). Yields on JGB 10s (JGBL) spiked above 1% at one point as an already skittish and volatile market was further rattled by what have generally been perceived as hawkish comments out of Ben Bernanke and other Fed officials on Wednesday. Yields pulled back in late trading. Compounding the problem for Japanese stocks was the yen (FXY), which has strengthened some 2% against the dollar to 101.16 most recently. (See also: China HSBC flash PMI shows contraction) [View news story]
watch the JGB´s...that is where the trouble will begin....
Up as high as $1,413 following Bernanke's (at the time) perceived dovish testimony this morning, gold (GLD -0.9%) reverses along with stocks. Markets make opinions, and now the focus on Bernanke is he's prepping the markets for tapering. The just-released FOMC minutes push down gold even further, now at $1,357/oz. [View news story]
to think the Fed can taper down...no way...wait until obamacare kicks in and all those new unemployed...trillions more...
The list of groups Abercrombie & Fitch (ANF +1.6%) has offended recently just got a little longer after a judge says he will contemplate an injunction against the retailer for discriminating against the handicapped. A lawsuit filed by a group of customers alleges the retail chain limits access to shoppers in wheelchairs as it caters to its targeted younger svelte crowd. (Previous: No plus-sized lines for ANF) [View news story]
Outflows from gold ETPs of 10.27 metric tons YTD have surpassed the combined inflows of the previous 2 years, according to Bloomberg. One portfolio manager notes the outflows about equal the amount mined, meaning new supply has doubled this year. "The market has a lot of metal to absorb." GLD +1.3% premarket. [View news story]
its just paper...no heavy metal is moving....the scam is falling apart...but the first ones out win...
FRBNY Bill Dudley says it will be 3-4 months before the Fed will have a sense of how the economy is responding to fiscal drag and can decide whether to reduce (or expand?) asset purchases. Speaking to Bloomberg, Dudley says the FOMC has yet to get to a point of agreeing on a strategy for cutting back QE. Three-four months? ... Should make Bernanke's Jackson Hole speech an interesting one. [View news story]
He is not..but maybe he will twitter a speech or something....
Retail legal rumblings: An appeals court in California rules that Kohl's (KSS) can be sued over what consumers perceive is false advertising. The court said California consumer law will allow lawsuits in cases where a customer would not have made a purchase except for the false bargain. The ruling could set up an avalanche of similar lawsuits in California against retail chains. [View news story]
"what consumers perceive".....wow..that kind of opens it wide open..has the judge ever seen the WalMart shoppers pictures......I think some of those perceptions are not in this universe... this is great for trial lawyers though....and that is what its supposed to do.....save 70 cents on a product..sue for millions....great America...way to be productive
Tim Cook (AAPL) testifies at a Senate hearing on corporate offshore taxes. "We don't depend on tax gimmicks," Cook asserts, while pushing for a big overhaul of U.S. corporate tax code. "Apple has always believed in the simple, not the complex." Sen. John McCain isn't satisfied with Apple's defenses, claiming the company "has violated the spirit of the law if not the letter of the law." Sen. Rand Paul has strongly defended Apple. "Congress should be on trial here for creating a byzantine tax code." (previous) [View news story]
This is not Cook´s problem..its congress for writing such stupid laws..but hey..it gets them lots of political donations when they write these stupid rules....that is why its so complicated....each special interest donates to the politician they love that writes their way....
"Do you really think risk-averse central bankers are going to try and catch the knife," asks Credit Suisse commodity research chief Ric Deverell about gold. "No" is his answer as this crowd only buys when the price is headed higher. Of reports of heavy physical buying, he's unimpressed, noting investment demand (ETFs) is the gorilla in the gold market. The metal's (GLD -1.6%) within a few dollars of taking out the 26-month low hit in April. [View news story]
I think it happens when they have finally pushed the stock markets to a 30 to 1 P/E ratio....then it gets to frothy for them and they run to the next item de jour..and that will be PM´s..but by then most will have gone East....and the ride up will be fast and furious..
The Fed hasn't lowered "real" interest rates enough, says Minneapolis Fed chief Kocherlakota, not disappointing his new fans. Somewhat hawkish until a near-religious conversion last year, Kocherlakota is now the most dovish on the FOMC (though not a voter this year) and fond of making statements like that. [View news story]
Soon the Fed will be the only buyer of the bonds as people start to dump them....and I think that is soon..next 6 months
McDonald's (MCD) will boost its workforce by 83% this year to take it to 165K as it picks up its pace of store growth in the nation. The restaurant operator has less than half of the fast-food market share that Yum Brands claims, but the gap is narrowing with KFC China suffering some turmoil. [View news story]
don´t go into the food court of those vacant malls..just a hint
"Do you really think risk-averse central bankers are going to try and catch the knife," asks Credit Suisse commodity research chief Ric Deverell about gold. "No" is his answer as this crowd only buys when the price is headed higher. Of reports of heavy physical buying, he's unimpressed, noting investment demand (ETFs) is the gorilla in the gold market. The metal's (GLD -1.6%) within a few dollars of taking out the 26-month low hit in April. [View news story]
In a short time...the Eastern world will own much of the metal..and it won´t be coming back.....mining is getting harder and costs much more...the West is selling their sole for paper profits...short term gain for sure..but long term loss is also true....the fall of the fiat dollar...
USEC (USU +4.7%) says it will begin stopping uranium enrichment at the end of this month after failing to conclude a deal with the U.S. Department of Energy for an extension of enrichment at the Paducah Gaseous Diffusion Plant in Kentucky. The plant is the only U.S.-owned and operated uranium enrichment facility in the U.S. [View news story]
Bank lobbyists cut out the middleman, writing legislation softening financial regulations on their own instead of leaving it to lawmakers to draft the paperwork. A bill exempting broad swathes of trades from new regulation - which cruised through the House Financial Services Committee this month - was essentially written by Citigroup (C), according to emails reviewed by the NYT. Is this even news? Fans of The Aviator have seen it before. [View news story]
"The Real Bubble is Gold: and It's Deflating," writes MKM's Mike Darda, who says the key turning point was the metal's (GLD. IAU) failure to rally in wake of last fall's QE∞ inception. "Investors simply took it at face value that gold was soaring and would continue to rise because of (the Fed)." Inflation picking up will be even worse for gold, he says, as this would make the Fed an aggressive tightener of policy. [View news story]
Even Japanese stocks are subject to the law of gravity (who knew?) as a confluence of factors sends the Nikkei (EWJ, DXJ) plunging 7.3% on the session (the swing from intraday high to low was ~9%). Yields on JGB 10s (JGBL) spiked above 1% at one point as an already skittish and volatile market was further rattled by what have generally been perceived as hawkish comments out of Ben Bernanke and other Fed officials on Wednesday. Yields pulled back in late trading. Compounding the problem for Japanese stocks was the yen (FXY), which has strengthened some 2% against the dollar to 101.16 most recently. (See also: China HSBC flash PMI shows contraction) [View news story]
Up as high as $1,413 following Bernanke's (at the time) perceived dovish testimony this morning, gold (GLD -0.9%) reverses along with stocks. Markets make opinions, and now the focus on Bernanke is he's prepping the markets for tapering. The just-released FOMC minutes push down gold even further, now at $1,357/oz. [View news story]
The list of groups Abercrombie & Fitch (ANF +1.6%) has offended recently just got a little longer after a judge says he will contemplate an injunction against the retailer for discriminating against the handicapped. A lawsuit filed by a group of customers alleges the retail chain limits access to shoppers in wheelchairs as it caters to its targeted younger svelte crowd. (Previous: No plus-sized lines for ANF) [View news story]
Outflows from gold ETPs of 10.27 metric tons YTD have surpassed the combined inflows of the previous 2 years, according to Bloomberg. One portfolio manager notes the outflows about equal the amount mined, meaning new supply has doubled this year. "The market has a lot of metal to absorb." GLD +1.3% premarket. [View news story]
FRBNY Bill Dudley says it will be 3-4 months before the Fed will have a sense of how the economy is responding to fiscal drag and can decide whether to reduce (or expand?) asset purchases. Speaking to Bloomberg, Dudley says the FOMC has yet to get to a point of agreeing on a strategy for cutting back QE. Three-four months? ... Should make Bernanke's Jackson Hole speech an interesting one. [View news story]
Retail legal rumblings: An appeals court in California rules that Kohl's (KSS) can be sued over what consumers perceive is false advertising. The court said California consumer law will allow lawsuits in cases where a customer would not have made a purchase except for the false bargain. The ruling could set up an avalanche of similar lawsuits in California against retail chains. [View news story]
Tim Cook (AAPL) testifies at a Senate hearing on corporate offshore taxes. "We don't depend on tax gimmicks," Cook asserts, while pushing for a big overhaul of U.S. corporate tax code. "Apple has always believed in the simple, not the complex." Sen. John McCain isn't satisfied with Apple's defenses, claiming the company "has violated the spirit of the law if not the letter of the law." Sen. Rand Paul has strongly defended Apple. "Congress should be on trial here for creating a byzantine tax code." (previous) [View news story]
"Do you really think risk-averse central bankers are going to try and catch the knife," asks Credit Suisse commodity research chief Ric Deverell about gold. "No" is his answer as this crowd only buys when the price is headed higher. Of reports of heavy physical buying, he's unimpressed, noting investment demand (ETFs) is the gorilla in the gold market. The metal's (GLD -1.6%) within a few dollars of taking out the 26-month low hit in April. [View news story]
The Fed hasn't lowered "real" interest rates enough, says Minneapolis Fed chief Kocherlakota, not disappointing his new fans. Somewhat hawkish until a near-religious conversion last year, Kocherlakota is now the most dovish on the FOMC (though not a voter this year) and fond of making statements like that. [View news story]
McDonald's (MCD) will boost its workforce by 83% this year to take it to 165K as it picks up its pace of store growth in the nation. The restaurant operator has less than half of the fast-food market share that Yum Brands claims, but the gap is narrowing with KFC China suffering some turmoil. [View news story]
"Do you really think risk-averse central bankers are going to try and catch the knife," asks Credit Suisse commodity research chief Ric Deverell about gold. "No" is his answer as this crowd only buys when the price is headed higher. Of reports of heavy physical buying, he's unimpressed, noting investment demand (ETFs) is the gorilla in the gold market. The metal's (GLD -1.6%) within a few dollars of taking out the 26-month low hit in April. [View news story]
Tesla Motors (TSLA) prices its offering of 3.393M shares of common stock at $92.24 per share. [View news story]