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Thread: Marketwatch & Worldwide Financial News 5/25

  1. #1
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    Default Marketwatch & Worldwide Financial News 5/25

    Index Futures: S&P 500 1,321.50 -1.00 -0.08% DOW 12,513 -23.00 -0.18% NASDAQ 2,538 1.25 0.05%


    http://www.marketwatch.com/investing...countrycode=UK
    "The key to life is how well you deal with plan B "... Stephen Dias

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    Euro off near two-year lows, outlook still bleak

    May 25, 2012 7:33am EDT


    Excerpt:

    "The euro is a bit higher today, but I will be surprised if it takes stops above $1.2620. The medium-term prospects are not good," said Geoff Kendrick, currency analyst at Nomura.


    "We think if Greece does not exit the euro zone, the euro will see a gradual decline to $1.23 in coming months. But if it does, then we see the euro falling to $1.20 by the end of the second quarter and $1.15 by the end the third."


    Investors are also concerned about the health of the Spanish banking sector, chances of a deep and damaging slowdown in the euro area and the lack of any aggressive policy measures to address the escalating debt crisis.


    Spanish lender Bankia (BKIA.MC), which was part nationalized this month, was set to ask the government for a bailout of more than 15 billion (US$19 billion) on Friday.


    http://www.reuters.com/article/2012/...83Q0O120120525
    "The key to life is how well you deal with plan B "... Stephen Dias

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    Brent crude gains, outlook still negative


    May 25, 2012 7:22am EDT

    Excerpt:
    The composite PMI on Thursday indicated core nations such as Germany and France were being caught up in the downturn, even as they made contingency plans to deal with financial and economic turmoil in the event Greece quits the euro.


    Talks on Iran's nuclear program reached a stalemate, with Western countries insisting Iran must cease uranium enrichment before sanctions against it can be eased.


    A senior State Department official will travel to Tel Aviv on Friday to reaffirm the U.S. commitment to Israel's security.


    The negative tone to the market remained intact, however as U.S. manufacturing growth slowed and China's once booming factories faltered.
    "The key to life is how well you deal with plan B "... Stephen Dias

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    http://www.reuters.com/finance/currencies

    Fri May 25, 2012 7:18am EDT
    * China should step up efforts to spur growth - c.bank adviser
    * China could cut RRR, interest rate cut unlikely - adviser
    * China exports up 27.3 pct on yr in first 10 days of May
    * Country faces stern trade environment - vice minister
    By Kevin Yao


    BEIJING, May 25 (Reuters) - China should step up efforts to spur economic growth, including cutting the amount of cash that banks must hold as reserves, a central bank adviser said on Friday, even as the government saw tentative signs of a recovery in exports.
    Recent comments by Premier Wen Jiabao and other leaders have fuelled market expectations that the government could roll out more stimulus measures to combat an economic slowdown.
    http://www.reuters.com/article/2012/...8GP48320120525
    "The key to life is how well you deal with plan B "... Stephen Dias

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    Default

    12,505.01

    Change
    -24.74 -0.20%
    Volume
    Volume 6.79m
    May 25, 2012, 9:33 a.m.

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    So. It's going to be one of those days, is it?

    www.marketwatch.com/investing/index/DJIA

    "The key to life is how well you deal with plan B "... Stephen Dias

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    Yep. Roller coaster.


    Hey, y'all'r good for rumor control.
    I saw a reference to a Greek announcement as to leaving the eurozone.
    Has anyone seen anything that amounts to confirmation of this sort of thing???
    "I must not fear.
    Fear is the mind-killer.
    Fear is the little-death that brings total obliteration.
    I will face my fear.
    I will permit it to pass over me and through me.
    And when it has gone past I will turn the inner eye to see its path.
    Where the fear has gone there will be nothing....only I will remain"
    [Frank Herbert...Bene Gesserit Fear Littany}

    night driver's I-garage:
    http://bluemudpatriot.wordpress.com/

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    The most significant news in the financial world today is the ongoing "soft run" and demise of the Spanish banks. The minimum of "40-50 billion" the Spanish government is running around trying to raise right now, (and that is a bandaid over a sucking chest wound), is the story. BBC has a bit on it, but it's happening, and there is not a private or government investor stepping up to hold Spanish junk bonds. Oh, to be a fly on the wall in the halls of the overlords...



    Tras
    "They who have put out the people's eyes reproach them of their blindness."
    John Milton, 1642

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    Interesting video interview with Marc Faber on CNBC.

    Should Greece exit the euro zone and is China's economy weaker than analyst suggest? Marc Faber, Gloom, Boom & Doom Report, weighs in on those two scenarios and explains why he's making a move to gold. He also thinks that Greece should exit the Euro as soon as possible. Well worth a listen. There is also a transcript for those who can't view video.

  10. #10
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    Spanish banks are starting to cave. It seems that they need billions.

    This will not play out well, come next week.
    mortuus republica imperii Vivant

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