American Markets -Leading News -Update 2

USA Retail Sales Stink!! .4 pc Rise in Jan!

Sales at U.S. retailers rose less than forecast in January, reflecting an unexpected drop in purchases of automobiles.

The 0.4 percent gain reported by the Commerce Department today in Washington was half the 0.8 percent rise median forecast of economists surveyed by Bloomberg News. Purchases excluding car dealers climbed 0.7 percent, more than projected and the biggest gain since March.

Retailers like Target Corp. (TGT) and Limited Brands Inc. topped analysts’ sales forecasts last month, when many companies offered incentives to bring back shoppers after holiday sales stagnated. Further gains in employment are needed to bolster wages and underpin confidence, ensuring that demand can be sustained.

“Consumers are being very picky at this point,” said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia. “We saw aggressive retailer discounting and sharp price cuts in the new year. It bodes poorly for retailers’ margins.”

Purchases were also revised down 0.1 percentage point in each of the prior two months — to unchanged in December and a 0.3 percent rise in November. Stagnant yearend sales prompted economists at Morgan Stanley to trim their tracking estimates for consumer spending in the fourth quarter and first three months of 2012.

The median forecast of 75 economists surveyed by Bloomberg projected sales excluding cars would rise 0.5 percent. Estimates ranged from little change to a 1.8 percent gain.

Stocks Decline

Stocks fell after the report. The Standard & Poor’s 500 Index decreased 0.3 percent to 1,348 at 11:32 a.m. in New York

http://www.bloomberg.com/news/2012-02-14/retail-sales-in-u-s-rose-in-january-as-shoppers-sought-post-holiday-sales.html

Goldman Sachs Seeks Own Personal Exemptions from Volker Rule

http://www.bloomberg.com/news/2012-02-14/goldman-sachs-seeks-exemption-for-bank-stakes-in-credit-funds-.html

FED-head Williams- Pedal to the Metal!

Reuters) – The U.S. Federal Reserve should do all it can to reduce very high unemployment and bring inflation back up to more desirable levels, a top Fed official said on Monday.

“It’s vital that we keep the monetary policy throttle wide open,” John Williams, president of the San Francisco Federal Reserve Bank, told a group of students and professors at Claremont McKenna College.

“That will help lower unemployment a little bit quicker, and raise inflation back toward levels consistent with our mandates,” he said. “And importantly, we want to do so quickly to minimize total economic damage.”

Williams, a voting member this year on the Fed’s policy-setting panel, has supported recent moves by the U.S. central bank to bolster what he termed on Monday a “lackluster” recovery.

He joined the majority of his fellow policymakers in last month’s decision signaling interest rates will stay near zero through late 2014, a year and a half longer than the Fed had previously projected.

The San Francisco Fed chief is known as a monetary policy “dove” who is more concerned with the threat of high joblessness than high inflation….

http://www.reuters.com/article/2012/02/14/us-usa-fed-williams-idUSTRE8171HD20120214

Pentagon to Begin to Fire Troops To Move to Drone Army

Drones don’t care about morality or the constitution. Egads Star Wars, the inception. This has to be stopped!

http://www.bloomberg.com/news/2012-02-13/pentagon-may-oust-troops-involuntarily-under-budget-reductions.html

Banksters Furious At Tobin Tax

http://www.washingtonpost.com/blogs/ezra-klein/post/obama-budget-would-double-bank-tax-size/2012/02/13/gIQA0bnJBR_blog.html

USA Banks Launch Furious Counterattack on Volcker Rule

The world’s largest banks demanded a wish list of changes to a proposed U.S. ban on proprietary trading, seeking to escalate the lobbying effort against the Volcker rule five months before it takes effect.

In scores of comment letters filed yesterday, bankers and their trade associations said the rule would increase risk, raise costs for investors, hurt U.S. competitiveness and be vulnerable to legal challenge.

“Regardless of how the final rule turns out, it will be a shock to the U.S. financial system, as banking entities will need to take extraordinary measures to attempt to implement it,” Barry Zubrow, executive vice president of JPMorgan Chase & Co. said in a 67-page letter. Goldman Sachs Group Inc. (GS) and Morgan Stanley submitted letters by midnight last night. Mark Lake, a spokesman for Morgan Stanley, and David Wells, a spokesman for Goldman Sachs, said the companies wouldn’t publicly release or comment on the letters.

The rule, named after former Federal Reserve Chairman Paul Volcker, was included in the 2010 Dodd-Frank Act in an effort to restrict risky trading at banks that operate with federal guarantees. Five U.S. regulators released the 298-page proposal seeking comment on how it would affect market-making, liquidity, foreign institutions and private equity and hedge fund investments.

Volcker, 84, defended the rule in his own letter yesterday, challenging banks’ arguments that the rule would hurt markets…..

http://www.bloomberg.com/news/2012-02-14/u-s-volcker-rule-faces-harsh-global-critics-months-before-it-takes-effect.html

Appl hits 500 dollars

http://www.bloomberg.com/news/2012-02-13/apple-shares-climb-above-500-after-earnings-surprise-ignites-17-surge.html

Boeing/GE forced to return to USA after loss of market share and quality by Going Overseas

Outsourcing Fail.

http://www.reuters.com/article/2012/02/13/us-usa-manufacturing-onshoring-idUSTRE81C1B720120213

Meg Whitman Relative? nabbed on Insider Trading…

Lets hope it does not lead to Mrs. HP! Whitman, another notorious and very famous Royal Anglomasonic name. From Walt Whitman the homosexual agnostic poet to Mrs. Rothschild in charge of HP. Meg Whitman’s husband is a Hebrew Surgeon at Stanford.

California Fund Manager Charged With Insider Trading A California hedge fund manager was charged with making illegal trades in Google and other technology stock, the latest person ensnared in the government’s insider-trading crackdown. Douglas F. Whitman, the founder of Whitman Capital in Menlo Park, Calif., surrendered to the F.B.I. on Friday. Federal prosecutors accused him of using confidential information to trade in the shares of Google, Marvell Technology, and Polycom, netting $900,000 in illegal profits.

Source -Deal Book

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