GM's purchase of AmeriCredit (ACF +21.7%) puts it closer to being "back in the game," says Gamco Investors CEO Mario Gabelli. Yes, writes Felix Salmon, but why? The government spent an incredible $17.2B that it will never see again bailing out GMAC, so is it a good idea for GM to use its taxpayer largesse to get back into subprime lending? [View news story]
Spain, Ireland and Greece easily sell nearly €9.5B in bonds of varying maturities at auction today, in the latest sign that the crisis of confidence engulfing the eurozone is loosening its grip. Yields on the Spanish bonds actually fell from a previous sale. [View news story]
July Empire State Survey: Manufacturing 5.08 vs. 18.5 expected, 19.57 prior. Employment 7.94 vs. 12.35 prior. New orders 10.13 vs. 17.53 prior. Prices -1.59 vs. 4.94 prior. [View news story]
I started visiting Seeking Alpha in search of transcripts. But slowly i realized that Seeking Alpha is more than just providing transcripts. Then i started reading articles on it. The articles and the comments to them are very knowledgeble. The updates that get published on the home page are very very useful (for example, home sales data, unemployement data). The daily economic currents have helped me a lot. In India i see movement in commodity market after 7 p.m. (aroud 9 a.m in US), So i closely watch the economic currents that get published every day and follow it up. It has given an edge to my trading. The insightful articles have really helped me to become a value investor.
May Pending Home Sales:-30% to 77.6 M/M, vs. -13% expected, +6% to 110.9 prior. Sales -15.9% Y/Y. “Consumers are rational and they rushed to meet the tax credit eligibility deadline in April. The sharp decline in contract signings in May is a natural result with similar low levels of sales activity anticipated in June,” says NAR chief economist Lawrence Yun. [View news story]
June ISM Manufacturing Index:56.2 vs. 59 consensus and 59.7 prior. Prices index 57 vs. 77.5 prior. Employment 57.8 vs. 59.8. Inventories 45.8 vs. 45.6. New orders 58.5 vs. 65.7. [View news story]
GM's purchase of AmeriCredit (ACF +21.7%) puts it closer to being "back in the game," says Gamco Investors CEO Mario Gabelli. Yes, writes Felix Salmon, but why? The government spent an incredible $17.2B that it will never see again bailing out GMAC, so is it a good idea for GM to use its taxpayer largesse to get back into subprime lending? [View news story]
Initial Jobless Claims: +37K to 464K vs. 450K consensus. Continuing claims -223K to 4,487,000. [View news story]
Initial Jobless Claims: +37K to 464K vs. 450K consensus. Continuing claims -223K to 4,487,000. [View news story]
Copper and Nickel Prices to Rise? Five ETFs Offering Exposure [View article]
Spain, Ireland and Greece easily sell nearly €9.5B in bonds of varying maturities at auction today, in the latest sign that the crisis of confidence engulfing the eurozone is loosening its grip. Yields on the Spanish bonds actually fell from a previous sale. [View news story]
June Housing Starts: -5% to 549K vs. 574K expected and 578K last month. Permits +2.1% to 586K vs. 578K expected and 574K last month. [View news story]
July Empire State Survey: Manufacturing 5.08 vs. 18.5 expected, 19.57 prior. Employment 7.94 vs. 12.35 prior. New orders 10.13 vs. 17.53 prior. Prices -1.59 vs. 4.94 prior. [View news story]
Initial Jobless Claims: -29K to 429K vs. 445K consensus. Continuing claims +247K to 4,681,000. [View news story]
Initial Jobless Claims: -21K to 454K vs. 460K consensus. Continuing claims -224K to 4,413,000, the lowest level since November. [View news story]
Seeking Alpha Celebrates 500,000 Registered Users! [View article]
I started visiting Seeking Alpha in search of transcripts. But slowly i realized that Seeking Alpha is more than just providing transcripts. Then i started reading articles on it. The articles and the comments to them are very knowledgeble. The updates that get published on the home page are very very useful (for example, home sales data, unemployement data).
The daily economic currents have helped me a lot.
In India i see movement in commodity market after 7 p.m. (aroud 9 a.m in US), So i closely watch the economic currents that get published every day and follow it up. It has given an edge to my trading.
The insightful articles have really helped me to become a value investor.
June Nonfarm Payrolls: -125K vs. -130K expected, +433K (revised from +431K) in May. Unemployment: 9.5% vs. 9.8% expected, 9.7% prior. [View news story]
May Pending Home Sales: -30% to 77.6 M/M, vs. -13% expected, +6% to 110.9 prior. Sales -15.9% Y/Y. “Consumers are rational and they rushed to meet the tax credit eligibility deadline in April. The sharp decline in contract signings in May is a natural result with similar low levels of sales activity anticipated in June,” says NAR chief economist Lawrence Yun. [View news story]
June ISM Manufacturing Index: 56.2 vs. 59 consensus and 59.7 prior. Prices index 57 vs. 77.5 prior. Employment 57.8 vs. 59.8. Inventories 45.8 vs. 45.6. New orders 58.5 vs. 65.7. [View news story]
Initial Jobless Claims: +13K to 472K vs. 455K consensus. Continuing claims +43K to 4,616,000. [View news story]
Initial Jobless Claims: +13K to 472K vs. 455K consensus. Continuing claims +43K to 4,616,000. [View news story]