- China PMI Services hits 14-month high 56.3 vs. 55.4 prior
-China premier Li cautions on the risk of slowing economy to the labor sector, while Pres Xi is more upbeat, noting domestic conditions are sufficient in sustaining economic growth.
Due to the attacks experienced Friday and over the weekend, the Iceland server is going to be upgraded and the site may be down for some short periods of time. For the amount of money the spooks are spending they are not making much progress. They need to make even less. More testing needs to be done to see if the comment section can be allowed again.
USA markets after a rough start are being jammed up based upon the Chinese service sector data, and by the Europeans rigging their stock markets overnight. It was a good point to add shorts ahead of the USA jobs report for me, so I did today both in Europe and the USA.
The market focus this week is the October NFP, delayed a week due to the effected shut down and to a lesser extent the ECB meeting, where expectations have been set for a minor 25 BPs rate cut likely to help nothing. China svcs PMI, released Saturday did more than anything to lift global markets today. We had the planes and cars economy continue in the USA this morning with the economic releases. BA has a 7 year backlog on 737s and at last is going to add significant capacity, but it shows you what it takes to add USA jobs with Obamacare costs levied on making USA employees hyper-expensive.
BlackBerry disclosed that its deal with Fairfax Financial to go private has fallen through and CEO Thorsten Heins has resigned. Now the company will take on $1 billion in convertible debt, which converts if the stock hits $10 a share. Fairfax will kick in $250M of convertible debt. New chairman and interim CEO, John Chen, insisted that he would still pursue a sale of the company, but also couldn’t rule out shuttering businesses as a strategic option. Shares of BBRY are down 13% this morning but off their worst levels as of writing.
Kellogg met expectations in its Q3 report, with very mild y/y profit growth, and it also trimmed its FY13 guidance. The firm announced a new “global growth and efficiency program” to bolster business ventures at home while also driving international expansion. The plan includes a reduction of its global workforce by 7% through 2017. Shares of Kellogg are up nearly 4% as Wall Street loves it when Americans lose their jobs. Getting rid of parasitic Wall Streeters is the key to USA growth along with getting rid of the parasites in Washington DC especially the evil ones at the EPA shutting down one vital USA manufacturing industry at time under Obama’s and London’s direction.
Twitter boosted its IPO price range to between $23 and $25 from $17-20, which could value the company as high as $15B. Twitter is expected to go public sometime later this week, with 70M shares to be made available upon IPO. This morning’s amended S-1 also revealed that IBM accused Twitter of violating three of its patents, though no lawsuits have actually been filed. Twitter says that it will defend itself against IBM’s claims. The general public thinks TWTR shares won’t be a good deal.
Buffett’s Berkshire Hathaway reported Q3 profits that were up nearly 30% y/y, although the operating earnings gain was much less given it excludes investment gains.
AK Steel and Steel Dynamics are on a tear higher after Goldman raised its view on steel industry to neutral from cautious and raised the three firms to a buy rating. Goldman said it believed that risks related to oversupply have mostly been priced in. GS should be investigated for manipulating steel share prices.
Morgan Stanley emphasized the impact of the recent dramatic fall in Brent Crude prices and its role in keeping WTI lower. MS noted that forward prices are converging toward the lower spot price. The turnaround in the dollar on expectations for an ECB rate cut, continued poor global refining margins and more overseas supply coming on line, especially in Iraq and Saudi Arabia, will keep Brent and WTI lower. When Pols are in trouble, oil supply is brought on-line and the analysts lie or are themselves mislead about the reasons for the price movements.
Despite the CBs and their shills doing everything they can both wholesale and retail GOLD buying remain strong, even in India. India has sort of institutionalized a permanent 10 % a year inflation as they maintain a defacto dollar peg. There has been reported CB covert buying out of London as this is likely the bottom of the 1300 ton BOE lead gold loan/sale dumped on the markets. Hard to say what will spark gold although Yellen’s first moves maybe do so. That her husband is more or less the financial engineering ‘braintrust’ of rigging the gold price, certainly means its not going to be an easy up for gold once she takes the throne.
Tri Pointe Homes, the West Coast builder controlled by Barry S. Sternlicht’s Starwood Capital, is merging with the home-building subsidiary of Weyerhaeuser, a large owner of timberlands.
The USA Justus dept extorted 1.8 bln dollars from SAC Capital in likely a purely punitive move. It will end Steve Cohen’s rule on WS. He spoke out one too many time about the corruption of the CBs, HFT, and if you’re going to do that, you need to have a mighty clean ship yourself. Under Holder the USA Justice department has degenerated into a lawless organization of extortionists, willing turning a blind eye to criminal heavyweights at HSBC, DB, Barclays, JPM, GS. Put Jamie Dimon in docket and at the very least he lied to federal investigators and seek a 20 year jail term and the politicos of Wall Street will start to behave. Going after Corzine like they went after Madoff and Sir Alan Stanford is a necessity for restoring the USA markets reputation for fairness and transparency.
In the USA political scene members of the Democrats in Congress have suddenly realized they may not be coming back after the 2014 election due to the 2x-4x of their constituents’ cost for health care. Not a single Republican house member voted for this bill. I don’t understand Harry Reid’s incredible arrogance, unless it was based upon the massive voter fraud he was able to pull of to get elected. Being the incumbent party gives you about 5-10 % edge to throw votes your way currently.
Global Crossing Financial Criminal (see the Book ‘Broadbandits’), and Clinton Crony Terry McAuliffe is in political trouble in Virginia. That a crook like McAuuliffe with his sordid public record can even contend as part of the Rockefeller/Clinton machine tells you debauched state of the American electorate. As is typical, weak minded , socialist loving women will decide the election in Virginia. This guy is an amazing criminal operator, if you have followed his career as Rockefeller/Clinton hatchet man.
Even the highly rigged Gallup polls show Obama approval is at 40 %.
GOOG’s shrewd calculus.Buy up all the 160 IQ graduates on the market. Keep them from working at your competitors or from starting a company up.
(US) Sept Durable Goods Orders revised from +3.7% to +3.8%; Durables Ex-Transportation revised from -0.1% to -0.2%
(US) Oct ISM New York: 59.3 v 53.6 prior
(US) Sept Factory Orders: 1.7% v 1.8%e
(MX) Mexico Oct Consumer Confidence Index: 91.2 v 92.8e
|E-mini S&P 500||1759.50||4.75||0.27%|
|U.S. 10 Year||6/32||2.598|
|German 10 Year||4/32||1.682|
|Japan 10 Year||0/32||0.597|
In general PMIs were below expectations, or at them in Europe as the dead cat bounce continued on Merkel’s big spending stuff for her election. Italy released its massively downward forecast for 2013, but tried to put an optimistic spin on the 2014 recovery which is not going to happen as China gutted so many Italian businesses. I shorted into the European euphoria and their markets going up on bad news as peripheral yields were pegged low. France in particular is in dire straits being strangled by big govt, wars, and high taxes and a mad Jew.
England has done a stupendous job of thwarting any real financial reform, and only a very foolish person would not note that all these marketing rigging crimes are taking place in London, and Americans are virtually the only people pursing these English traders, and most not for jail terms but only on civil terms for rigging markets. When an Administration as corrupt as Obama/Holder looks good compared to the Anglo-Zionist gang that runs Europe, you know European corruption is simply off the scale.
We are still waiting on the crucial German High Court ruling and with this delay one can only expect the German High Court with plenty of Cryptos on it is being bribed, blackmailed or coerced like USA Justice Roberts was to rule Obamacare constitutional when even the NYT laughed at that arguments.
Europeans are the worst sort of people wanting to jam their socialist /nanny state down upon the USA to destroy the USA competitiveness, much like the entire European press, but especially the English press is demanding Americans give up their constitutional right to bear arms again this weekend.
With a millstone like the EPA, the USA can hardly survived if further weighted down with ‘European’ ideals. Right now the Obama administration is arguing before the courts, international treaties law trumps the USA constitution meaning TAFTA will slave us to the EU.
I don’t call Europeans, Eurotrash lightly. The light of liberty and Christianity went out in Europe a long time ago as they embraced the hellish ideas of the Anglo-Zionists of London and socialism. Pray for these evil and corrupt Europeans. At this point, only Islam is likely to bring moral reform to Europe. It won’t be these evil Europeans.
The ECB released its banking structure report. Clearly the EU banking sector is in major contraction.
ECB’s Asmussen was complaining about the Euro strength and capital inflows into Germany and that German interest rates were too low. The ECB meets later this week and he had no comment. He weighed in, in the WSJ and demanded a “hasty ” EC resolution of the banking union and single bank regulator resolution.
“In order to do this banking union judiciously we need a hasty agreement, that means by the end of the year at the level of the European Council of Ministers”
According to research by the ratings agency Fitch, European banks have increased their exposure to sovereign debt by 26% over the past two years while lending to corporates has fallen by 9%.
The ECB’s hellish empire keeps growing as it moves to control everything like the proverbial octopus of old.
The WSJ’s Euro Crisis blog notes that the cost of the new ECB headquarters in Frankfurt is now foreseen to be upward of €1.15bn – from an initial estimate of €850m. The article also notes that the new building is not big enough for approximately 1,000 additional staff the ECB is planning to hire as it takes over its new role as the eurozone’s single banking supervisor.
The English Octopus: The Sun on Sunday reported that David Cameron is being urged to appoint a high-level envoy to tour EU capitals to build an alliance for reform. Conservative MP George Freeman, a member of the Fresh Start Group, said, “Party leaders across Europe need to see the UK set a lead on active negotiations towards a new deal.”
England sucking the money out of the USA and Europe. British households benefit by up to £3,000 a year through being in the EU, according to a new report by the CBI. The report, launched to coincide with the group’s annual conference, concluded that there is no realistic alternative to EU membership. “The UK could survive outside the EU, but none of the alternatives offers a better deal,” said CBI director general John Cridland. The CBI calls for reforms including building a single market for services and “procedural safeguards” to maintain the integrity of the Single Market for all members, which “should be enshrined in any new Treaty.” It also calls for a moratorium on EU legislation in areas such as employment and social regulation.
The FT reports that Germany will insist on strict data protection rules in the on-going EU-US TTIP trade talks. The move comes as a surprise to the Commission, who fears that such conditions could delay or derail the talks. Meanwhile, the leader of Germany’s Green Party, and the Left Party have been calling for asylum for whistleblower Edward Snowden in Germany.
The International Labour Organisation (ILO) has warned in a report that Portugal must boost bank lending to small companies to create a “job-centred” recovery. The report also warned that up to 20% of the population would like to emigrate if the opportunity arose.
|UK: FTSE 100||6763.62||28.88||0.43%|
|France: CAC 40||4288.59||15.40||0.36%|
|Stoxx Europe 600||322.50||1.00||0.31%|
(IT) Italy Stats Agency (ISTAT): forecasted 2013 GDP at -1.8% and +0.7% in 2014 (rofl)
(EU) Euro Zone Oct Final PMI Manufacturing: 51.3 v 51.3e; confirmed its 4th straight month of growth
(EU) Euro Zone Nov Sentix Investor Confidence: 9.3 v v 6.2e; third straight month of positive reading
(ES) Spain Oct Manufacturing PMI: 50.9 v 51.0e; highest since Mar 2011, 3rd straight month of growth)
(IT) Italy Oct PMI Manufacturing: 50.7 v 51.0e; 4th straight month of expansion
(FR) France Oct Final PMI Manufacturing: 49.1 v 49.4e; confirmed 20th straight month of contraction
(DE) Germany Oct Final PMI Manufacturing: 51.7 v 51.5e; confirmed its 4th straight month of growth
(AT) Austria Oct Unemployment Rate 7.4% v 6.9% prior
(CH) SNB Sight Deposits for Week Ended Nov 1st (CHF): 317.6B v 319.3B prior
(UK) Oct PMI Construction: 59.4 v v 58.7e; highest since Sept
(HU) Hungary Oct Manufacturing PMI: 51.0 v 54.4 prior
(PL) Poland Oct Manufacturing PMI: 53.4 v 52.9e
(DK) Denmark Oct Foreign Reserves (DKK): 491.0B v 491.2 pri
(TR) Turkey Oct CPI M/M: 1.8% v 1.3%e; Y/Y: 7.7% v 7.2%e; CPI Core Index Y/Y: 7.5% v 7.1%e
(TR) Turkey Oct PPI M/M: No est v 0.9% prior; Y/Y: No est v 6.2% prior
(EU) ECB €24M borrowed in overnight loan facility vs. €431M prior; €52.1B parked in deposit facility vs. €54.1B prior – Daily Eurosystem Liquidity Conditions
|German 10 Year||2/32||1.687|
|France 10 Year||2/32||2.159|
|Italy 10 Year||2/32||4.110|
|Spain 10 Year||-3/32||4.010|
|U.K. 10 Year||2/32||2.477|
|U.S. 10 Year||6/32||2.600|
(CN) China President Xi Jinping: “Domestic elements supporting China’s economic growth are sufficient”
(CN) China Premier Li Keqiang: Job growth threatened by slowing economy in China; To find an equilibrium in between reform and economic growth – financial press
(CN) China Fin Min Lou Jiwei: China economic policy aim for long-term effect instead of short-term – financial press
(CN) China Securities Regulatory Commission (CSRC) Chairman Xiao Gang: Planning to simplify approvals for M&A activity – Chinese press
(CN) A bubble in the China property market poses a threat to the overall economy – Chinese press
(CH) China PBoC Gov Zhou discussed financial cooperation with Hong Kong Financial Sec Tsang
(CH) China Vice Premier Zhang Gaoli: Economy was stable and in a good trend; reiterated view that China would meet 2013 targets
(JP) BOJ seen approaching its limit for ETF purchases, weakening its impact on the stock market – Nikkei News
(JP) Japan plans to remove import tariffs of up to 95% of goods – Japanese press
(JP) Japan and Russia hold their first joint defense and foreign ministers’ meeting this weekend to discuss regional security and China-related concern
(CN) CHINA OCT NON-MANUFACTURING PMI: 56.3 V 55.4 PRIOR (14-month high)
(AU) AUSTRALIA SEPT RETAIL SALES M/M: 0.8% V 0.4%E (7-month high); Q3 Retail sales ex-inflation: 0.7% v 0.2%e
(AU) AUSTRALIA OCT TD SECURITIES INFLATION M/M: 0.1% V 0.2% PRIOR; Y/Y: 2.1% V 2.1% PRIOR
(AU) AUSTRALIA OCT ANZ JOB ADVERTISEMENTS M/M: -0.1% V +0.2% PRIOR
(AU) AUSTRALIA Q3 HOUSE PRICE INDEX Q/Q: 1.9% V 2.2%E (4th consecutive increase); Y/Y: 7.6% V 7.6%E
|Japan: Nikkei 225||14201.57||-126.37||-0.88%|
|S&P BSE Sensex||21196.81||32.29||0.15%|
*Almond Growers suing the govt
I was doing some science reading over the weekend. Turns out BPA, the most common additive to soft plastic water bottles, blocks common anti-cancer organic compounds from killing cancer cells. No wonder they added it to plastic water bottles. Every day the CFR and its gang at the AMA are taking their instruction from Prince Charles gang on how to kill us all and poison our food supply.
*EU /USA To resume Hellish TAFTA talks
* USN sells America’s Secrets for Whores
What a bunch of great guys we have coming out of Westpoint, Annapolis, and Colorado Springs these days. We need to cut these down in size by 2/3 and rely on ROTC, Volunteers and compulsory service officers.
*Foodbanks brace for wave of Hunger
I encourage all readers to find a Christian foodbank and get involved. Ultimately Sodom was destroyed because the LGBTs had not charity towards others.
*Chipolte’s goes Vegan
At least you can get non GMO food there and at Panera Bread. A lot of farmers are going to go to hell for their greed and growing GMO corn and Soybeans. I talked to one farmer who does so, he won’t eat what he grows. These people fully know the goal is to give the population cancer. A bunch of Judas goats among these large farmers.
*TSA Demands Armed Guards at every Checkpoint
A LA firefighter called into a talk show and said the entire thing was staged, as there were still bleeding people on the ground 45 minutes after the shooting, despite more than ample personnel to take care of them. A very convenient script for the Bull Dyke and the TSA. The story was never clear, a NJ kid with no record, but ‘suicidal’ all of a sudden turns up at LAX. Given the nature of the present administration, this might have been another Sandy Hook or Boston Bombing and no one might have been injured at all except the patsy. Pray for the truth to come out and for Americans to rise up and demand laws against any agency or person in the govt encouraging a false flag. We need laws against USA govt terrorism.
*911 Perp, War Criminal Bibi Plans another Wall
Christians should pray this beast of satan is brought to justice and his terror mitigated. This man is far worse than Adolph Hitler.
*Racist Jews calling the Shots in the White House
Israeli Security ‘Paramount’ in Any Negotiations
In an interview with the Israeli media today, Undersecretary of State Wendy Sherman assured that the United States would never agree to any deal with Iran without “consulting” Israel beforehand.
Sherman echoed comments from other US officials trying to placate Israel, which oppose diplomacy with Iran, saying that they consider a “bad deal” worse than no deal at all, and that Israeli security would be the paramount issue in all talks between the P5+1 and Iran.
She went on to insist that no deal was imminent, insisting the US hadn’t agreed to any deal and would not agree to any interim agreements that would lift any sanctions against Iran.
Lifting sanctions is likely a secondary concern at this point, with Israeli lobbying groups attempting to get more and more sanctions imposed, and the White House focusing primarily on convincing them to pause those increases for the time being.