Tuesday, July 27, 2010

Update Daily Investment News

Indonesia’s First Half GDP May Have Risen 5.8%, Government Says
(Bloomberg) -- Indonesia’s economy may have expanded 5.8 percent in the first half of this year and may grow 6 percent in the second half, the Finance Ministry said in a statement presented during a parliament hearing in Jakarta today.

Dow Erases 2010 Loss as S&P 500 Tops Moving Average (Update2)
(Bloomberg) -- The rally that erased the Dow Jones Industrial Average’s 2010 loss yesterday and carried the Standard & Poor’s 500 Index above its 200-day average spurred optimism among chart analysts and investors who track earnings.

Banks May Signal Trouble for U.S. Stocks: Technical Analysis
(Bloomberg) -- Banks and brokerages have lagged behind the U.S. stock market, spurring concern among technical analysts that the Standard & Poor’s 500 Index may resume its decline soon.

Australian Dollar May Rise to 8-Month High: Technical Analysis
(Bloomberg) -- The Australian dollar is in a “rising trend” and may extend gains toward an eight-month high of 94 U.S. cents, Royal Bank of Scotland Group Plc said, citing trading patterns.

Euro May Break 200-Day Average, Citi Says: Technical Analysis
(Bloomberg) -- The euro’s almost 2 percent rally since July 21 may extend to the 200-day moving average of $1.3618 provided the 16-nation currency breaks above resistance around the $1.31 area, according to Citigroup Inc.

Copper ‘Neckline’ Signals Rally, Citi Says: Technical Analysis
(Bloomberg) -- Copper may rally 3.9 percent to the highest price since early May after closing above the “neckline” in a technical double-bottom formation, according to strategists at Citigroup Inc.

Stay Bearish on S&P 500 Until 1,118 Level: Technical Analysis
(Bloomberg) -- Investors should remain bearish on the Standard & Poor’s 500 Index until the benchmark gauge for U.S. equities rises above the 1,118 level, according to the head of technical research at Mint Equities Ltd.

Chance of Double-Dip US Recession is High: Shiller
The state of the U.S. economy is worrisome and there is a high possibility of a double-dip recession, one of the property market's most well-known economists said Tuesday.

Another Recession Due Circa 2012: Jim Rogers
A new recession would be due around 2012 but central banks will not be able to throw cash at it anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC Tuesday.

Art Cashin: US Must Move Wealth from Multinationals to Main Street

Traders Position for Big Activision Rally

Are Bulls About To Send Bears Into Hibernation?
By Monday’s close the bulls were claiming victory after the Dow turned positive for the year and the S&P 500  ended in the green and above the 1,100 level for the second straight session.

No Double-Dip Recession for World: Richard Branson

Palm Oil Gains, Reversing Losses, as Recent Drop Lures Buyers
(Bloomberg) -- Palm oil gained for the first time in three days after the recent losses attracted buyers seeking to build inventories ahead of festivals in the most populous Asian nations.

Tin Gains to Highest Level Since Lehman’s Failure on Stockpiles
(Bloomberg) -- Tin, the best performing industrial metal this year, climbed to the highest level since the collapse of Lehman Brothers Holdings Inc. in September 2008 as shrinking inventories signaled steady demand.

Gold May Gain as First Monthly Drop Since March Spurs Demand
(Bloomberg) -- Gold, little changed in New York, may gain on speculation that the first monthly drop in prices since March will spur physical demand. Platinum climbed to a four-week high.

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