Goldman Sachs Spins Away From Success – New York Times
 Sydney Morning Herald |
Goldman Sachs Spins Away From Success
New York Times While prosecutors will have to determine the potential legal implications, the evidence amassed by the Congressional subcommittee increasingly shows that Goldman bet against the mortgage market — and did so successfully. It wasn't just a “hedge. … Seeking Clues in Goldman's Succession Plan |
Mass defaults call into question notion that we’re getting thriftier – Dallas Morning News
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Mass defaults call into question notion that we're getting thriftier
Dallas Morning News But we've defaulted on hundreds of billions of dollars of mortgage and consumer loan obligations. Whether we've paid or dumped our debts is hugely important … |
The Week Ahead: Treasury Auctions, Pending Home Sales, FOMC Minutes and Fed Speak
Posted To: MND NewsWire
The Dow closed last Thursday at an 18-month high, and with equity investors now able to react to Friday’s nonfarm payrolls report, the market should open sharply higher this morning. The economy added 162k jobs last month, the biggest one-month gain in exactly three years. READ MORE One hour before the opening bell, Dow futures are up 41 points to 10,901 and S&P 500 futures are up 4.50 points to 1,178.25. Also, NYMEX crude oil futures are 60 cents higher to $85.47 per barrel and Gold is up $2.00 to $1,128. The week ahead is relatively slow for data but there are plenty of events that might offer the markets new insight. Monday is an exception with the ISM Non-Manufacturing Index and the Pending Home Sales Index each hitting the headlines this morning. Key Events This Week: Monday…(read more)
The Day Ahead: Home Prices and Consumer Confidence
Posted To: MND NewsWire
After volatile trading that ended positive yesterday, markets are looking for further gains this morning ahead of key housing data. 90 minutes before the bell, Dow futures are up 15.00 points to 10,844 and S&P 500 futures are 2.00 points higher at 1,170.75. Meantime, WTI crude oil is up 6 cents to $82.23 per barrel, and Spot Gold is up almost a dollar to $1,110.70. Reversing earlier losses, the dollar index came off a 4-day low overnight, though it remains relatively soft this morning. Earlier in the day, Chicago Fed President Charles Evans told Bloomberg TV the unemployment rate could remain higher than 9% for the rest of the year. He also said the FOMC statement’s use of the words “extended period” for accommodative policy suggests no change for a six month period. In…(read more)
The Day Ahead: EU Issues, Durable Goods, New Home Sales, Treasury Auction
Posted To: MND NewsWire
The US dollar is strengthening and equity futures are sharply lower this morning ahead of key housing and durable goods data. Yesterday the Dow strengthened for the 11th straight day, but this morning the focus is on continued financial troubles in Europe, causing risk aversion across the board and a flight to the greenback. 90 minutes before the bell, Dow futures are down 31 points to 10,797 and S&P 500 futures are off 4.20 points to 1,165. WTI crude oil is down $1.24 to $80.67 per barrel and Spot Gold is $9.00 lower to $1,096.15. The dollar strengthened mainly due to a steep fall in the euro overnight, which sank to its lowest level since last May, according to BMO Capital Markets. They attribute the weakness to talk of Greece receiving help from the International Monetary Fund. “Markets…(read more)
The Week Ahead: Housing Data in the Spotlight
Posted To: MND NewsWire
Financial markets don’t seem pleased by the $940 billion healthcare bill. One morning after the House of Representatives passed the President’s initiative, equity markets are sharply lower. One hour before the open, Dow futures are off 53.00 points to 10,634 and S&P 500 futures are down 7.30 points to 1,149 Meantime, crude oil futures are down $1.26 to $79.71 per barrel while Gold is lower by $3.30 to $1,104.30. Economists from BMO point out that global economics concerns are also pushing down equity prices Monday. “Worries about policy tightening in Asia, following India’s rate hike last Friday afternoon, and ongoing concerns over Greece are weighing on global equity markets,” they wrote early morning. “The US$ is mildly stronger, as are Treasuries,…(read more)
The Day Ahead: Stocks Dip on Sovereign Debt Fears Abroad. Treasuries Get Flight to Quality
Posted To: MND NewsWire
Equity futures are firmly lower this morning following a mixed session yesterday. The Dow looks to open 31 points lower at 10,507 while futures on the S&P 500 are off 4.25 points to 1,132.75. “The mood in global markets is towards risk aversion with no apparent trigger,” said Benjamin Reitzes from BMO. MND's Adam Quinones says weakness in stocks and the flight to quality into Treasuries is a factor of overnight news from Fitch Ratings that warned against a downgrade of the credit ratings of the United Kingdom, France, and Spain. Confirming that risk isn’t on the table this morning, WTI crude oil is down $1.25 to $80.62 per barrel, and Spot Gold is trading $6.32 lower at $1,117.23. As one would expect, the US dollar is stronger against a broad array of currencies. The…(read more)