Stocks edge down as investors balance U.S. data, Europe debt woes
U.S. stocks are slightly down in afternoon trading as investors weigh better-than-expected U.S. economic data against continued sovereign debt woes from Europe.
NZD/USD breaks below key support to near 2-mo low; eye risk appetite return for reversal
NZD/USD has broken below its key support level on Tuesday as dollar's across-the-board strength weighed on the kiwi currency, and at a near 2 month low, the pair is now testing its 100-day SMA on the daily chart. Momentum indicators clearly suggest the pair is in the oversold zone but a strong technical reversal also need the support of good news from the Euro-zone, traders said.
National home prices slide 2% in Q3: S&P
U.S. home prices fell by 2.0 percent in the third quarter of 2010, after having risen 4.7 percent in the second quarter, according to data from S&P/Case-Shiller Home Price Indices.
US consumer confidence hits five-month high
Consumer confidence in the U.S. improved in November to reach the highest point in the last five months, suggesting the economy is still expanding, albeit it slowly.
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East Asian bond market shows no sign of slowing down
The East Asian bond market, especially corporate bonds, continues to expand and draw strong demand from return-starved Western investors.
Top Pre-Market NASDAQ Losers (MCOX, STX, ASML, AIXG, QGEN)
The top pre-market NASDAQ stock market losers are: Mecox Lane, Seagate Technology, ASML Holding, Aixtron, Qiagen, Altera, Vodafone Group, Avanir Pharmaceuticals, and Dell.
China to revise price manipulation penalties to tame inflation
China has said it will revise penalties on price manipulations, stepping up its measures to tackle inflation.
US stocks set to open lower
Futures on major U.S. stock indices point to a lower opening on Tuesday as renewed concerns about European sovereign debt crisis weighed on sentiment.
GBP/USD at 2-mo low; strong US data may push it to 1.535 (200-day SMA)
GBP/USD has fallen to a 2-month low on Tuesday helped by safe-haven interest in the US dollar and investors are now seeking nearest supports for the pair as they await positive-looking economic data from the US, due later in the day.
Seagate ending buyout talks not a surprise: analyst
Seagate' announcement that it has ended talks with private equity group over taking the company private is not exactly a surprise, an analyst with ThinkEquity said.
Eurozone inflation remains steady at 1.9 pct in Nov.
Eurozone annual inflation rate remained unchanged in November after inching closer to the European Central Bank's (ECB) target of 2 percent in October.
UK consumer confidence weakens in Nov.
Consumer confidence in the UK remained deep in the negative territory in November, as people were factoring in the impact of the government’s austerity measures, according to a survey.
USD/CAD in ascending mode ahead of data; 1.030 seen key resistance
USD/CAD is currently holding near its 200-day moving average but the formation of an ascending triangle from start of this month has made the situation ripe for a jump on Tuesday, especially ahead of key data from the US and Canada.
Peripheral crisis worsens as Irish bailout disappoints markets
After the financial markets gave thumbs down to the Irish bailout deal and the common currency slumped further, the focus is converging on the eurozone itself, rather than on the indebted individual members of the bloc.
Research In Motion upgraded at Jefferies
Jefferies & Co. upgraded its rating of BlackBerry maker Research In Motion Ltd. (RIMM) to 'buy' from 'hold' and increased its price target to $80 from $55.
USD/JPY targets 83.75 (S1) for now; strong support seen at 82.8 (S3) below 83.5 (S2)
USD/JPY tends to fall further as the session grows to Europe and given the market mood to stay prepared for more bad news from Portugal or Spain, likely in the coming days, the pair may only have a brief stop near 83.75 (S1), the 61.8 percent Fibonacci from late September levels. It could hold that level for the day.
Top After-Market NASDAQ Losers (ZOLT, STX, MAXY, COMV, CMED)
The top after-market NASDAQ stock market losers are: Zoltek Companies, Seagate Technology, Maxygen, Comverge, China Medical Technologies, Porter Bancorp, TICC Capital, Approach Resources, Shanda Games, and Johnson Outdoors.
Apple profit view raised at ThinkEquity
ThinkEquity has increased its profit estimates and price target on Apple Inc., saying that the recent expansion of iPad distribution in the U.S. and iPad's launch in more international markets, easing of supply constraints this quarter are strong positives for the company.
Top After-Market NASDAQ Gainers (PRXL, HSFT, KFRC, SODA, IBKR)
The top after-market NASDAQ stock market gainers are: Parexel International, hiSoft Technology International, Kforce, SodaStream International, Interactive Brokers Group, Stereotaxis, Pixelworks, LoopNet, Mellanox Technologies, and Ancestry.com.
Number of Black Friday Weekend shoppers increase from last year
The National Retail Federation (NRF) said that 212 million U.S. shoppers visited stores and websites over the Black Friday weekend, up from 195 million last year. Moreover, the average shopper spent $365.34 this weekend, up from last year’s $343.31 figure.
Stocks drop on euro zone fears, but recover later in session
Stocks fell, but finished significantly above intra-day lows, as the market recovered somewhat from early losses triggered by renewed fears that the euro zone debt crisis could spread beyond Ireland to Portugal and Spain.
It may be cold, but historically December is hot month for stocks
While investors currently grapple with a number of very troubling geopolitical and economic issues -- namely the threat of war in Korea and the potential sovereign debt contagion in Europe, interest rate hikes by China, among others – some might take solace in the fact that December has consistently been the best-performing months for U.S. going back more than sixty years.
EUR/USD in oversold zone, may rebound to 1.320-327 (R1), 1.336(R2)
Below the 30-mark, RSI on both day and 4-hour charts suggest the pair is in the oversold territory and any fundamental signal showing weakness for the greenback could push the pair up to 1.320-1.327 (R1) before marching ahead to 1.336 (R2), its 38.2 percent Fibonacci. Further up, 1.344 (R3) is seen as a strong resistance for the pair.
US stocks plunge on eurozone concerns
US stocks declined in early trade on Monday as the European Union’s 85 billion euro ($113 billion) financial assistance package for Ireland failed to boost investor sentiment.
Eurozone economic sentiment touches 3-yr high
The eurozone’s economic sentiment rose to three-year high in November, despite concerns over the sovereign debt crisis in some countries in the region.
Top Pre-Market NASDAQ Losers (BSDM, ASML, AIXG, AONE, VOD)
The top pre-market NASDAQ stock market losers are: BSD Medical, ASML Holding, Aixtron, A123 Systems, Vodafone Group, Mellanox Technologies, Ryanair Holdings, Micron Technology, and Alvarion.
Top Pre-Market NASDAQ Gainers (VOLT, AMAG, SGMO, NLST, AVNR)
The top pre-market NASDAQ stock market gainers are: Voltaire, AMAG Pharmaceuticals, Sangamo Biosciences, Netlist, Avanir Pharmaceuticals, Netflix, Deckers Outdoor, Amazon.com, JA Solar Holdings, Baidu, and Apple.
Google-Backed O3b Raises $1.2 Bln To Fund Broadband Satellite Network
Satellite communications firm O3b Networks, which is backed by investors such as Google, said it has raised $1.2 billion from a group of investors and banks.
Black Friday retail sales edged up only 0.3%
Despite the big build-up, retail sales on Black Friday were rather tepid. According to data from ShopperTrak, sales edged up a mere 0.3 percent from the same day last year.
US futures point to flat opening
Futures on major U.S. indices point to flat opening on Monday as the European Union’s 85 billion euro ($113 billion) financial assistance package for Ireland failed to boost investor sentiment.
BoJ says expanding asset buy program an option; Oct. retail sales drop
The Bank of Japan (BoJ) Governor Masaaki Shirakawa said on Monday expanding the asset purchase fund could be an option if the economy worsens beyond the central bank's expectations, even as government data showed retails sales in October fell unexpectedly.
Top After-Market NASDAQ Losers (COMV, VRTX, SONE, TFSL, EXTR)
The top after-market NASDAQ stock market losers are: Comverge, Vertex Pharmaceuticals, S1 Corp., TFS Financial, Extreme Networks, Regeneron Pharmaceuticals, West Coast Bancorp, FSI International, Daktronics, and LodgeNet Interactive.
Top After-Market NASDAQ Gainers (CWTR, GLDD, NVAX, VICL, EGLE)
The top after-market NASDAQ stock market gainers are: Coldwater Creek, Great Lakes Dredge & Dock, Novavax, Vical, Eagle Bulk Shipping, Internap Network Services, Cerus, Nasdaq OMX Group, Sterling Bancshares, and Texas Capital BancShares.
Stocks sink on Korea, euro debt worries
Stocks tumbled in a holiday-shortened session on worries over threats of war by North Korea and pervasive fears that the euro zone sovereign debt crisis may spread to Spain and Portugal. Apparently, traders saw little solace in what appears to be shaping up as a strong Black Friday on the retail front.
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