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

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posted on Aug, 24 2009 @ 03:24 PM

Most U.S. Stocks Drop as SunTrust CEO Predicts More Bank Losses

Aug. 24 (Bloomberg) -- Most U.S. stocks fell, led by financial companies, after SunTrust Banks Inc. said lenders face more credit losses and commercial real estate may falter through 2010. Oil’s advance to a 10-month high sent energy shares in the Standard & Poor’s 500 Index higher for a fifth day.

Banks in the S&P 500 fell 2.5 percent as SunTrust Chairman and Chief Executive Officer James Wells III said “the industry is a long way from declaring any sort of victory.” Ford Motor Co. declined 4.3 percent before the “cash for clunkers” program for cars expires today. Commodities and equities rallied globally as leaders of the biggest central banks buttressed confidence in the economic recovery.

Six stocks fell for every five that rose on the New York Stock Exchange. The S&P 500 fell 0.1 percent to 1,025.57 at 4 p.m. in New York after climbing as much as 0.9 percent. The Dow Jones Industrial Average added 3.32 points, or less than 0.1 percent, to 9,509.28. The MSCI World Index of 23 developed nations advanced 0.7 percent. The UBS Bloomberg Constant Maturity Commodity Index increased 1.1 percent.

“Maybe we’re not completely out of the financial crisis,” said E. William Stone, who oversees $101 billion as chief investment strategist at PNC Wealth Management in Philadelphia. “We’ve had almost no economic data, plus light trading and a good week last week, so that may give people an itchy trigger finger to take profits if they sniff trouble.”

posted on Aug, 24 2009 @ 03:28 PM
Daily reading

America Is Running Out Of Rope (long, detailed, excellent)

The Lie Of "High Frequency Trading" Liquidity (extremely educational re: the current ramp jobs)

No, Its Not A Recovery (short, sweet & to the point)

Without Comment (None Necessary) (be SURE to read the entire article cited in this post)

posted on Aug, 24 2009 @ 03:46 PM

UPDATE 2-Citi faces $44 bln loan losses over 18 months - analyst

Aug 24 (Reuters) - Fox-Pitt Kelton expects Citigroup Inc (C.N) to face another $44 billion in loan losses over the next 18 months, but said the embattled bank's capital is now strong following the "painfully dilutive" preferred conversion.

Citi received $45 billion of bailout money from the U.S. Treasury's Troubled Asset Relief Program, or TARP, and the government now owns a 34 percent stake in the company.

"We are not modelling in write-downs in problem securities, given recent stability in prices," analyst David Trone wrote in a note to clients.

Citi's large exposure to problem securities could once again be a threat, should the global economy dip again, the analyst said, adding that loan losses could end up closer to $68 billion.

UPDATE 2-U.S. home lender Taylor Bean files for bankruptcy

NEW YORK, Aug 24 (Reuters) - Taylor, Bean & Whitaker Mortgage Corp filed for Chapter 11 bankruptcy protection and said it may liquidate, three weeks after it closed its mortgage lending business and was suspended by a federal agency.

The Ocala, Florida-based company, which was the nation's 12th-largest U.S. mortgage lender from January to June, filed for protection from creditors on Monday with the U.S. bankruptcy court in Jacksonville.

Saying its business has been "crippled," Taylor Bean said it plans to operate on a scaled-down basis as it works to recover, restructure and possibly liquidate its assets.

It named Neil Luria of Navigant Capital Advisors as chief restructuring officer, and restructuring specialists Bruce Layman and Bill Maloney to its board.

"The speed of its collapse has been stunning," Luria said in a statement.

According to the bankruptcy petition, Taylor Bean has more than $1 billion of both assets and liabilities, and between 1,000 and 5,000 creditors.

Nice...$150M Fine...1 days HFT profit... :shk:

UPDATE 1-BofA to settle Merrill lawsuit for $150 mln

[edit on 8/24/2009 by Hx3_1963]

posted on Aug, 24 2009 @ 07:11 PM
Looking beyond tomorrows 2 year note auction I see there is a scheduled FDIC meeting on Wednesday. It is rumored that they plan to soften the capitalization requirements banks will be subject to when they bring back over a trillion dollars worth of "off book" assets January 1st 2010. It sounded as though they planned on announcing some type of bailout program renewal as well. Anyone good at reading between the lines?

posted on Aug, 24 2009 @ 07:25 PM
link hope the link works,i dont know if its any importance to the thread...but anything that helps bring the fed down is important to me
...thanx again for keeping up the excellent work from a lurker!...also red...thanx for the america is running out of rope page...that got my blood boiling

[edit on 24-8-2009 by consciousdrum]

posted on Aug, 24 2009 @ 07:33 PM
reply to post by consciousdrum

You're welcome and that news blurb deserves a full print:

Aug. 24 (Bloomberg) -- The Federal Reserve must make public reports about recipients of emergency loans from U.S. taxpayers under programs created to address the financial crisis, a federal judge ruled.

Take that Ben!!!!

Oh even better, here's the judge's actual ruling Courtesy of ZeroHedge

PDF warning

The relevant portion is:

The Board's Motion for Summary Judgment is DENIED, and Bloomberg's Motion for Summary Judgment is GRANTED. Specifically:

1. The Board shall produce forwith the Remaining Term Reports within five business days of the date hereof;

2. The Board shall search forthwith records at the FRBNY that constitute "Records of the Board" within the meaning of 12 C.F.R. # 231.2(i)(1); and

3. The parties shall confer following their review of the results of the search and inform the Court by letter no later than September 14, 2009 how they propose to proceed.

And now ZeroHedge is reporting that FINRA is going after Goldman Sachs

Is this all a dog & pony show to placate the aware, or is this the beginning of the end of all the sausage hiding?

What's in those trash cans Stander? See anything to tell us which way the wind is really blowing?

[edit on 8/24/09 by redhatty]

posted on Aug, 24 2009 @ 08:30 PM

Reuters: Obama to praise Bernanke for "bold action" in dealing with the financial crisis, White House says.

Not a big surprise. Bold action = bold stealing of money in front of the whole american people.

Reuters: Obama to reappoint Ben Bernanke as Chairman of the U.S. Federal Reserve on Tuesday, White House says.

YAY! The raping will continue! Nice. Please! We want more of that CHANGE!

IMO they will just say national security when/if the bill to audit the FED passes...but let's continue to expose them.

[edit on 24-8-2009 by Vitchilo]

posted on Aug, 24 2009 @ 08:57 PM
reply to post by redhatty

Well is going to get better, the so call insiders information shared by Goldman Sach with a selected group of their elite members has not gone unnoticed.

It is after all insiders information that this crocks are blatantly parading in from of the rest of the nation showing that they are beyond the law.

How far has gone this practice no body really knows but unnoticed has not.


posted on Aug, 24 2009 @ 09:10 PM
reply to post by marg6043

Unfortunately, the ones who notice are still a minority. The average American does not know exactly what the Federal Reserve is or what it does, most people have a 401K, but are not actively aware of what is happening in the markets.

If the local news anchor isn't telling them what's happening, they are clueless.

Not all Americans, but the average american falls into the above description.

Local News anchors are not going to be on the evening news on the 25th announcing that the FDIC is bankrupt & what that means to the average person.

Heck quite a few of the people I talk to don't even know who Ben Bernanke is, and they think Goldman Sachs is a clothing store like Sachs Fifth Ave.

When, not if, but when it all comes crumbling down (or crashing as the case may be) those same folks are going to be crying in the streets, "But I didn't know!!! Why didn't anyone tell me???"" As they take their place in line at the food stamp office.....

posted on Aug, 24 2009 @ 09:15 PM

Originally posted by fromunclexcommunicate

The dollar is still above its lows, probably waiting for the treasury auction results. Retail sales could go either way, but today would have been a good day to gamble and go short in the morning.

The only reason why you are saying it would have been good to go short in the morning is because you have hindsight. But anyway...I bought some 104 dollars puts on the SPY etf, so we will see how that goes tomorrow. I didn't put THAT much money in it anyway.

posted on Aug, 24 2009 @ 09:17 PM
reply to post by redhatty

I know and I agree, most people are oblivious of what is going on around them or how the economy works.

Ignorance is bliss, and the crocks are cashing on it.

posted on Aug, 24 2009 @ 09:17 PM
reply to post by redhatty

It is sad but true. Most people when I ask what the federal reserve is thinks that is where they store all the money...Little do they know that is where they print it out of thin air so we can slave away our whole lives in earnest to get as much of that paper as we possibly can

posted on Aug, 24 2009 @ 09:23 PM
Good morning, Mr. Goldman. How was your weekend?

It was okay. I took Friday off -- the hard work is getting to me. So what happened when I was gone?

Originally posted by stander
Did anyone get kick out of that sucker's rally?

High volume was absent, so was Mr. Goldman. He'll be back on Monday, though, to keep the bubble bull in the right direction.

No, we can't go that deep bellow.

Why not?

That would upset marg 6043. Besides, she would grow more suspicious about our lovely organization.

posted on Aug, 24 2009 @ 09:27 PM
reply to post by RetinoidReceptor

Retinoid, I was blown away TODAY by a post HERE ON ATS by someone who actually still thought the USD was backed by gold.

I'm telling you, it's damned scary how clueless many many folks are

posted on Aug, 24 2009 @ 09:28 PM
reply to post by stander

Goldman should be happy, they got their puppet to stay and keep them well fed with tax payer money for another term.

Hey life is peachy in the Goldman Sach wonderland.

posted on Aug, 24 2009 @ 09:31 PM
an interestingly disturbing excerpt from an article I ran across

Massive US Treasury debt auctions have become almost run of the mill lately, but this week's substantial offerings are unusual in they jump the maturity gun. Normally new Treasury auctions are set to coincide with maturity dates of previous issues, allowing bond traders to roll over their investments. This week's auction - a record total of US$109bn in twos, fives and sevens over the next three days - is scheduled ahead of maturity dates, meaning traders will have less funds available to play with. Is this what the Fed was worried about? Normally bond yields rise ahead of auctions (prices fall) as traders set themselves ahead of a rush of new supply.

posted on Aug, 24 2009 @ 09:31 PM

Originally posted by marg6043

Hey life is peachy in the Goldman Sach wonderland.

Life would indeed be peachy if you were Goldman Sachs......................................

posted on Aug, 24 2009 @ 09:34 PM
reply to post by RetinoidReceptor

Yes you are right, but unfortunately I am just a tax payer sucker.

posted on Aug, 24 2009 @ 09:40 PM

Originally posted by marg6043

Yes you are right, but unfortunately I am just a tax payer sucker.

We really are the suckers marg. We really are. The best thing we could possibly do is to not invest money, trade money, put money in banks, never take out loans, and start an underground economy of mom and pop stores, farms and poppy and marijuana fields...

posted on Aug, 24 2009 @ 09:41 PM
It's official, the FDIC is bankrupt

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