The "up-to-the-minute Market Data" thread

reply to post by Hx3_1963


Geeze, 1.22 million jobs for Europe is a lot. Considering most countries are unionized. That isn't good.

Those charts are weird. Do you think somebody is trying to collapse the Euro?

The DJIA is gaining a little. NAS is down to -17 now



[edit on 15-6-2009 by Hastobemoretolife]

Russia
MICEX INDEX 1,090.98 -47.54 -4.18% 06:38
MICEX 10 INDEX 2,323.15 -124.17 -5.07% 06:38
RUSSIAN RTS INDEX $ 1,077.42 -49.81 -4.42% 06:37
RTS-2 INDEX 940.08 -1.46 -0.16% 06:37
RUSSIAN TRADED INDEX 1,648.78 -96.62 -5.54% 06:38

Romania
BUCHAREST BET INDEX 3,520.90 -130.72 -3.58% 06:38

Croatia
CROATIA ZAGREB CROBEX 1,963.25 -73.06 -3.59% 06:37

reply to post by Hx3_1963

I thought that you would pass a word on today's slide in the US markets.

Here is the chart that shows the direction of the moving averages:
farm2.static.flickr.com...

reply to post by stander
I can always count on you for a good laugh in a other wise sappy market morning!

FTSE 100 4,366.71 7:15AM ET Down 75.24 (1.69%)
CAC 40 3,267.78 7:30AM ET Down 58.36 (1.75%)
DAX 4,963.68 7:16AM ET Down 105.56 (2.08%)

DJIA 8748.26 8645.0 -103.26
S&P 942.41 930.1 -12.31

Gold

Empire State Manufacturing index -9.4 from -4.5

08:35:07 AM

8748.26 8629.0 -119.26
942.41 929.2 -13.21
1490.07 1471.0 -19.07

[edit on 6/15/2009 by Hx3_1963]

reply to post by Hx3_1963


Here's one for you.....
California Imposes 90-Day Foreclosure Moratorium
California is imposing a 90-day moratorium on housing foreclosures under a new law that takes effect Monday.
The law is expected to make lenders try harder to keep borrowers in their homes.

Loan companies must prove they tried to modify the delinquent loans before they can begin foreclosing.

But supporters acknowledge the California Foreclosure Prevention Act won't stop thousands of foreclosures from eventually happening.

There have been more than 365,000 foreclosures in California since early 2007, with many more already scheduled.

The bill passed in February is similar to the Obama administration's Making Home Affordable Program that began in March.

Both encourages lenders to cut interest rates or rewrite loans to affordable levels.

WOW That is really going to help them sell off those 600,000 dollar 2 bedrooms they can't unload after having foreclosed on them!

I tell you what I know several people who have made some very decent offer's to the bank's here for homes and they have refused over and over. A friend of ours and his future wife just spent 326,000 dollars on a 900 square foot one bedroom! That was a fixer upper with no garage to boot. I can't get over what they are letting the bank's here get away with.

reply to post by xoxo stacie
It's a lost cause...kicking the can down the road...

They done this how many times now and hasn't worked before...why would it now...

I expect to see more keys in the mailbox :shk:

The only thing it's doing is let the banks build bigger loses for future write downs...on their own terms...which they'll stick us with again...

reply to post by xoxo stacie


The May foreclosure figures are just out, and the number of filings in the U.S. dropped 6%. That should have plenty of people rubbing their eyes in disbelief. Good news, really? Could this be the beginning of the turnaround that so many homeowners have been hoping for?

More like a mirage in the desert. While Irvine (Calif.)-based RealtyTrac reported the decrease, foreclosures remain at the third-highest level on record. Economists warn that foreclosure activity is likely to remain high for some time, and still get worse.

Property default notices, scheduled auctions, and bank repossessions were reported on 321,480 properties in May, down 6% from April but up 18% from May 2008. That means that 1 in every 398 homes received a foreclosure filing in May. Once again, Nevada, California, Florida, and Arizona topped the list of states with the highest foreclosure rates -- even though foreclosure filings were down 4.5% in California and 9% in Florida from April.

More than 1.7 million homes have already been repossessed since the foreclosure crisis began

RealtyTrac Senior Vice-President Rick Sharga said, State and local governments also have imposed foreclosure delays and moratoriums, which have only worked to delay the inevitable, he says.

"The delays basically push out the conclusion to this drama for months or years until everything processed," Sharga says. "While we've spared ourselves intense short-term pain, we've ensured that it (foreclosure crises) will be longer than it otherwise would have been."

reply to post by DaddyBare


What it means is that the Obama reform for the housing crisis and trying to keep people in their homes even when they can not afford them anymore is working.

See this doesn't means that when the people in these homes can live for free it means that they are given more time to deal with their personal financial problems.

Still some people are leaving their homes and just moving away.

The credit card default for may has increased, what that tells you? that people are still unemployed and unable to pay for their debt.

Ok so the dow opened at a 100 point loss.

I was really expecting a rise... I'm a bit surprised, is this a fluke and it'll be in positive terrority in about an hour?

reply to post by marg6043


Not entirely true... in my own neighborhood there are four vacant townhouses... three of them are in the process of foreclosure but this cycle of moratoriums has delayed that and now rather then being put up at auction or resold their being vandalized... in this case no one is being helped to stay in their homes but they have made it near impossible for others to get into a house.

reply to post by Republican08


I doubt you'll see a an upturn today... the news isn't all that good for investors... with oil(energy) prices up and and mortgages rates climbing higher the experts are saying that more than anything will hurt recovery efforts... that and there was more talk of banks taking huge losses on loans... lot of people are rethinking just how stable the banking system really is

Here we go again, $$ is being pulled out of equities & commodities & propping up the 10yr T's at this moment, I am waiting for the MBS to get some propping too, but so far, they are just rising. So new interest rates will be hitting another high note - 5.5-6% about now.

But the 10 yr is down to 3.70

Same game different day. How long can they keep this charade up?

reply to post by redhatty


Well the IMF has asked all member countries not to give up on all of the bail outs recently. It would seem that they to are of the mind that continuously propping up the market's with made up money will somehow in the end bring brighter days.
I guess they are just hoping all of those million's that are out of work the world over will sooner or later get that burger flipping job. Get off the unemployment line or just loose the benefits period. Thus giving them more fuel to add to the happy go lucky all is well song and dance!

reply to post by redhatty
So right you are...that seems to be the "game" now...

Shell game that is...one gets to far out, pull it from the others to cover...

Problem is...there's nothing under any of the shells anymore... :shk:

They just don't have any more Paulson bazooka shells left...

Oh and for those in the thread who keep preaching that China, Russia etal will continue to buy our (bad) debt...

International Demand for U.S. Assets Slowed in April

June 15 (Bloomberg) -- International demand for U.S. financial assets weakened in April as China, Japan and Russia trimmed holdings of Treasuries, a shift that may reinforce concern demand for American debt will wane amid record deficits.

Total net purchases of long-term equities, notes and bonds rose a net $11.2 billion, compared with buying of $55.4 billion in March, the Treasury said today in Washington. International holdings of Treasuries rose a net $41.9 billion, down from the $55.3 billion gain in March. Including bills, the holdings fell a net $2.6 billion.

watch that wording, while $11.2 Bil were bought last month, the month before we managed to sucker those other countries to buy $55.4 Bil

The desire to help bail the water out of this sinking ship is waning.

reply to post by DaddyBare


You are right, the housing reform works for only the people that were no in foreclosure procedures or already default on their loans, those will lose their home no matter what.

But some individual states had their own bills passed after the Obama reform bill that protect some of those that were already on foreclosure and default.

My state was one of those, they pass the housing bill at local level on top of the Obama reform bill.

Still it has been too late for too many.

BTW even in my neck of the woods we are having problems with vandals.

Capital One Unadjusted Charge Off Rate Hits Record 9.91%
Monday, June 15, 2009
zerohedge.blogspot.com...

A number you won't hear much about on CNBC: Capital One's official annualized U.S. credit card net charge-off rate hit 9.41% for May, however as footnote (1) advises, the real charge-off rate was actually 9.91%, a record for the company. Companies will fudge anything and everything for even 30 days worth of green shoots - in the meantime Ken Lewis will upgrade the stock and issue 3 equity follow-ons while State Street orchestrates a short squeeze. From the footnote:

A change in bankruptcy processing resulted in an improvement in the U.S. Card charge-off rate that is reflected in the May results. The impact was approximately 50 basis points. While our internal guidelines require bankrupt accounts to be charged off within 30 days, our practice had been to charge off customer accounts within 2 to 3 days of receiving notification of bankruptcy. Due in part to an increase in the volume of bankruptcies, we have extended our processing window to improve the efficiency and accuracy of bankruptcy-related charge-off recognition. The new process remains within Capital One’s internal guidelines, as well as FFIEC guidelines that bankrupt accounts must be charged-off within 60 days of notification.

Just a reminder that a mere 3 months ago the charge off rate was just over 8% - a 20% deterioration in 12 weeks and accelerating.

reply to post by redhatty


That is not good, Obama needs that money to be able to finance the incredible and impossible health care bill he is trying to sell to the nation.

As usual the bill is unsustainable he is trying to sell too much of what he can actually deliver in our times of economic decline.

reply to post by Hx3_1963


Ah yes, another perfect example that the "green shoots" are really just weeds in a brown lawn.

Oy Vey! Adding on, some more, From DJ News Wire

Retail stocked fell Monday after finance ministers around the world hinted at ending stimulus measures as the global economy is beginning to show some signs of recovery. Wal-Mart Stores Inc. shares fell 2.3% after the world's largest retailer was cut to neutral from buy by Goldman Sachs.

While Wal-Mart (WMT) has and should continue to gain share across a still-challenging consumer spending environment, on-going expense pressures, and tougher sales comparisons will likely translate to little near-term positive catalysts to drive shares higher, Goldman analyst Adrianne Shapira said. "Wal-Mart's earnings and share price have been driven by a macro environment that has played to its strengths (value, price leadership), combined with impressive internal execution," the analyst said in a report. "While both factors remain in place, we see limited opportunity for the company to generate the same rates of improvement seen in prior quarters going forward.

We expect more discretionary retailers to display significantly greater relative (per-share profit) momentum versus Wal-Mart into 4Q2009 as the former lap easy year ago margin comparisons." Wal-Mart rival Target Corp. (TGT) shares fell 1.5%. Shapira reinstated her rating on Target at buy. The S&P Retail Index (RLX) declined 2% to 33.12.

Besides the governments' possible end of stimulus measures to spur consumer spending, the industry also is under pressure amid a recent pick-up in gasoline prices and mortgage rates that may dent disposable income and hurt consumers' desire to purchase homes, analysts said. Colder weather in the Northeast and lack of last year's stimulus rebate checks also may further hurt demand in June, they said.

Shares of home improvement and home goods retailers led by Home Depot Inc. (HD) also were down. Limited Brands Inc. (LTD) shares fell 3% after the owner of Victoria's Secret and Bath & Body Works said it's seeking to raise approximately $500 million of gross proceeds through an institutional private placement of senior notes due 2019. The notes will be guaranteed by certain of the company's subsidiaries. Limited said it plans to use the proceeds to repurchase or repay existing debt and for general corporate purposes.

Best Buy Co. (BBY) fell 1% ahead of its quarterly profit report Tuesday. The onslaught of the recession and rising job losses that curbed consumers' appetite for most things they don't need is expected to again hurt the electronics retailer when it reports its first-quarter results on Tuesday. The largest U.S. electronics chain is expected to report profit declined to 34 cents a share from 43 cents a year earlier, according to the average estimate of analysts surveyed by FactSet.

-Andria Cheng; 415-439-6400; [email protected]

[edit on 6/15/09 by redhatty]

I am very surprised the dow is down like that, after all the Russian government assure the in their own words that the dollar was still the preferred currency to do business, (or something alone the lines)

Even the experts were expecting better numbers today.