American Markets-Leading News

TGIF traders and gold investors!! I will whip out the ZGR as all the news is out after one last past through the mining share news to see if anything interesting is going on.

EU Agrees to free trade pact with Columbia/Peru

Columbia is a very secure tenure for mining largely as it is 100 pc controlled by Anglo-Zionist families. Peru is back on the upswing as a mining jurisdiction. Once these free trade agreements are in place at least for the majors it  is impossible to say no if you comply with environmental standards, although PMU was covered by CAFTA and their property was temporarily confiscated. The CEO expects he will get a license eventually or his 100 million dollars back. So far the legal bill has cost nearly 2 million dollars. So never say never to a land grab by a Chavez type, the law notwithstanding.

http://af.reuters.com/article/metalsNews/idAFB5E8DS02A20120316

MF Global Employees Prepare to Plead the Fifth

Corzine and his all female gang of Lackeys getting ready to plead the fifth. These people burned some big, big players. I’m surprised no one has been charged criminally.

http://dealbook.nytimes.com/2012/03/15/mf-global-workers-expected-to-be-called-to-testify-before-congress/

Wall Street Fears Goldman Sachs Backlash

http://www.ft.com/intl/cms/s/0/e1aa813a-6eb1-11e1-acf0-00144feab49a.html

CA Home Sales Increase as Prices Dump

http://www.latimes.com/business/money/la-fi-mo-california-home-sales-20120315,0,5123392.story

Worker Sentiment Drops In March

http://www.bloomberg.com/news/2012-03-16/consumer-sentiment-in-u-s-unexpectedly-decreased-in-march.html

Gas Prices Spike-Americas Ready to Rumble

“I can’t be running around in a Volkswagen picking up lumber,” he said. “I got to have my big vehicle.”

http://www.washingtonpost.com/national/health-science/gas-prices-spike-and-american-motorists-rumble-with-anger-frustration/2012/03/14/gIQAOpa2ES_story.html

Consumer Prices Rise USA

The cost of living in the U.S. rose in February by the most in 10 months, reflecting a jump in gasoline that failed to spread to other goods and services.

The consumer-price index climbed 0.4 percent, matching the median forecast of economists surveyed by Bloomberg News, after increasing 0.2 percent the prior month, the Labor Department reported today in Washington. The so-called core measure, which excludes more volatile food and energy costs, climbed 0.1 percent, less than projected.

The biggest jump in gasoline in more than a year accounted for about 80 percent of the increase in prices last month, leaving households with less money to spend on other goods and services. Federal Reserve policy makers say the advance in fuel costs will be temporary, and most see little risk inflation will flare out of control as unemployment exceeds 8 percent.

“There are some worries from the energy prices perspective, but the Fed and most people realize that the increase will probably be transitory,” said Benjamin Reitzes , an economist at BMO Capital Markets in Toronto. “Outside of energy prices, there is not much risk for the consumer.”

Stock-index futures held earlier gains after the report. The contract on the Standard & Poor’s 500 Index maturing in June rose 0.2 percent to 1,399.3 at 8:31 a.m. in New York. Treasury securities trimmed losses,, with the yield on the benchmark 10- year note at 2.32 percent, down from a high of 2.35 percent in the minutes before the data was released.

Survey Results

Estimates of the 80 economists surveyed ranged from increases of 0.2 percent to 0.6 percent.

Consumer prices increased 2.9 percent in the 12 months ended in February, the same as in January.

The gain in the core gauge followed a 0.2 percent increase in January and was smaller than the 0.2 percent gain median forecast of economists surveyed. They were up 2.2 percent for the last 12 months, compared with 2.3 percent for the 12 months ended in January.

Today’s report showed energy costs increased 3.2 percent from a month earlier. Gasoline jumped 6 percent, the most since December 2010.

Escalating oil prices has pushed up the cost of the fuel. Regular gasoline in February averaged $3.56 a gallon, or 18 cents more than January, according to AAA, the nation’s biggest auto group. It was the highest monthly average since September.

The cost has kept climbing, reaching $3.82 on March 14, the highest in 10 months.

Fed’s View

The Fed, nonetheless, said it anticipates that the pressure on consumer prices from energy will wane later in the year.

“Inflation has been subdued in recent months although prices of crude oil and gasoline have increased lately,” the Federal Open Market Committee said in a statement following a March 13 meeting. Oil will “push up inflation temporarily, but the committee anticipates that subsequently inflation will run at or below the rate that it judges most consistent with its dual mandate” of stable prices and maximum employment.

The central bank’s preferred inflation gauge, the measure calculated by the Commerce Department and tied to consumer spending, rose at a 1.2 percent annual rate in the fourth quarter. Fed officials have set an explicit inflation goal of 2 percent.

Today’s report showed food costs were little changed, the least since July 2010.

Clothing Less Expensive

The increase in the core measure reflected higher prices for new cars and hotel stays. Clothing costs dropped by the most since July 2006, and used-cars were also cheaper last month.

“We feel like inflation will moderate,” Charles Holley, chief financial officer at Wal-Mart Stores Inc. (WMT), said during a March 7 investor conference. “The one wildcard, though, is going to be gas prices. If oil continues to go up, I think that could be a drag on economies around the world.”

Paychecks are failing to keep up with even limited inflation, another Labor Department report today showed. Hourly earnings adjusted for prices dropped 0.3% in February, and were down 1.1 percent over the past 12 months, today’s report showed.

A Labor Department report yesterday showed prices paid to producers rose 0.4 percent in February, paced by the gain in energy expenses. Import prices, reported March 14, also climbed 0.4 percent.

The CPI is the broadest of the three monthly price measures from the Labor Department because it includes goods and services. About 60 percent of the CPI covers prices consumers pay for services ranging from medical visits to airline fares and movie tickets.

http://www.bloomberg.com/news/2012-03-16/consumer-prices-in-u-s-rise-on-fuel-other-costs-little-changed.html

FED Hawk Lacker Demands Rate Hike in 2013

http://www.cnbc.com/id/46756583

Goldman Sachs , Lying Double Dealers and their CEO Sellouts

http://www.businessweek.com/articles/2012-03-14/goldmans-double-game#p1

Goldman Does It Again, Over geared, Overlord of Greed

Goldman Sachs Group Inc. (GS) should be prohibited from boosting its dividend or repurchasing stock because Federal Reserve stress tests showed the investment bank is too leveraged, according to former regulator Sheila Bair.

The leverage ratios of four financial firms dropped below 4 percent under the stressed scenario, according to test results the Fed released this week. Two of those firms, Citigroup Inc. (C) and MetLife Inc. (MET), were prohibited from raising dividends or repurchasing shares. The central bank approved the capital plans of two others, Goldman Sachs and Morgan Stanley….

http://www.bloomberg.com/news/2012-03-16/goldman-should-be-barred-from-returning-more-capital-bair-says.html

Futures Rise on Lousy Data-Pre-markets

dow

13,278.03
+25.27
+0.19%

nasdaq

3,057.42
+1.05
+0.03%

s&p 500

1,405.20
+2.60
+0.19%

CPI Rises .4 pc, Core .1 pc in Feb

NEW YORK (MarketWatch) — The dollar turned down and Treasury prices remained under pressure on Friday after a report showed the U.S. consumer price index rose 0.4% in February. Core prices, excluding food and energy, rose a less-than-expected 0.1%. The dollar index DXY -0.31% , which tracks the U.S. unit against a basket of major currencies, turned down to 80.059, from 80.255 before the data and 80.158 in North American trade late Thursday. The euro EURUSD +0.34% turned up to $1.3116 from $1.3097 on Thursday. Against the Japanese yen, the dollar USDJPY +0.12% pared gains to ¥83.57 compared to ¥83.40. Yields on 10-year notes 10_YEAR +2.72% , which move inversely to prices, stayed up by 6 basis points to 2.34%. Still to come is data on consumer confidence.

Industrial Output Flat in Feb

WASHINGTON (MarketWatch) – The output of the nation’s factories, mines and utilities was flat in February, the Federal Reserve said Friday. This was well below Wall Street expectations of a 0.4% gain. February production was suppressed by a drop in mining and auto production and a flat reading for utility output. January production was revised up to a 0.4% increase from the initial estimate of unchanged. Factory activity alone rose 0.3% in February after a 1.1% increase in the previous month. Capacity utilization – a gauge of slack in the economy – inched down to 78.7% in February from 78.8% in January.

Buffett Awards Wall Street-Sized Pay Praised by Dimon

http://www.bloomberg.com/news/2012-03-16/buffett-awards-wall-street-sized-pay-praised-by-dimon.html

Tapping from SPR May be Trickier than Ever

Reuters) – The U.S. Strategic Petroleum Reserve isn’t quite as strategic as it used to be.

As President Barack Obama moves closer to an unprecedented second release of the U.S. emergency oil stockpile in a bid to bring down near-record fuel prices, experts say dramatic logistical upheavals in the U.S. oil market over the past year may now make such a move slower and more complicated.

Moving to tap the four giant Gulf Coast salt caverns that hold 700 million barrels of government-owned crude would still almost certainly knock global oil futures lower, delivering some relief at the pump for motorists and helping Obama in the November election if he can prevent gasoline from rising above $4 a gallon nationwide.

On Thursday, prices fell by as much as $3 a barrel after Reuters reported that Britain was set to agree to release stockpiles together with the United States later this year. UK officials said the timing and details of the release would be worked out prior to the summer, when prices often peak.

But the logistics of getting that crude oil to willing refiners are more complicated than ever..

http://www.reuters.com/article/2012/03/16/us-usa-spr-capacity-idUSBRE82F05Q20120316

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3 Responses to American Markets-Leading News

  1. vino says:

    more from the reuters article .. the strategic petroleum reserve is incapable of meeting the challenge of a persian gold oil shutdown… At best it can pump just over 4 million barrels per day… And if i read it right over a year it could only pump just over 1 million barrels per day…. the persian gulf ships what 14-16 million barrels per day

    The Department of Energy says the SPR can distribute crude to 49 refineries with a capacity of more than 5 million barrels per day — about one-third the U.S. total — and five marine terminals. It is designed to be capable of releasing oil within two weeks of an order, and to sustain a rate of 1 million bpd for as long as a year and a half, enough to meet 5 percent of U.S. demand.

    Today it can discharge oil at a maximum rate of 4.25 million bpd, just below its 4.4 million bpd design capacity, a department official said. The reduction was due to a damaged storage tank.

    Industry analysts, however, are skeptical.

    Morse says that the maximum rate now appears unachievable, and that logistical problems constrained the government’s release of 30 million barrels of oil last summer — its largest ever — in response to the disruption of Libyan oil supplies.

    Oil from the reserves must compete with crude already being transported via pipeline or tanker, often on crowded waterways, so there may not be enough capacity in the system to immediately take in millions of additional barrels of oil.

    The Energy Department released an average of 743,000 bpd last August.

    The department said it conducts thorough assessments of commercial capabilities to move oil from the reserves on a routine basis and remains confident it could supply the market with 4.25 million bpd if needed.

  2. vino says:

    from the reuters article

    The reversal of a major Texas-to-Oklahoma pipeline will lower the distribution capacity of the SPR’s largest cavern, according to John Shages, who oversaw the U.S. oil reserves during the Bush and Clinton administrations.

    duh analysis huh? lol There is an oversupply of oil at cushing… Why would oil be removed from the spr and then shipped to cushing.. Everybody and their dog is trying to bypass cushing and ship their oil to texas the home of the spr

  3. jose says:

    call me dubious that the big players that the “honorable” scammed will not be made whole way more percentage wise than the little guy. i really doubt that any of them were off sides. just splitting up the pie. just disinformation to appease the little guy. after all look at who is handling the discovery and since they will plead the fifth well what will be the truth anyways?

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