Friday, June 25, 2010
I've made a video of this week's price action showing how I see the market, what I think it's about to do, and what to be aware of. Click here to watch video.
Companies recently announced 27 new buyback programs in a week totaling $18.5 billion, the most since February, according to data from TrimTabs.
"We've seen a pretty big decline in share price, so companies are trying to prop them up, and these announcements are one way they can do that," David Santschi, an analyst at TrimTabs, told the Financial Times.
"The spike is highly unusual for June, which is not an earnings announcement month. That's a bullish sign." (more)
There's little that shouts "seriously rich" as much as a little island in the sun to call your own. For Sir Richard Branson it is Neckar in the Caribbean, the billionaire Barclay brothers prefer Brecqhou in the Channel Islands, while Aristotle Onassis married Jackie Kennedy on Skorpios, his Greek hideway.
Now Greece is making it easier for the rich and famous to fulfill their dreams by preparing to sell, or offering long-term leases on, some of its 6,000 sunkissed islands in a desperate attempt to repay its mountainous debts. (more)
Deutsche Bank's Peter Hooper:
Financial conditions appear to have worsened substantially in recent quarters based on our update of the broad index of US financial variables presented earlier this year at the US Monetary Policy Forum. In the wake of recent developments in Europe, increased stress in financial markets has pushed that index halfway back to its immediate post- Lehman crisis lows. (more)
On May 30, President Obama issued a six-month drilling moratorium in the gulf, as recommended by Secretary of the Interior Ken Salazar. On June 7, a company called Hornbeck Offshore Services, which transports people and supplies for deepwater-drilling companies, led the charge challenging the moratorium. (more)
It touched 1.2222 euros on Thursday, its highest since the immediate aftermath of the financial crisis in November 2008, before dropping back.
Markets continue to worry about the European debt crisis, with the perceived risk of a default by Greece hitting an all-time high.
Leading shares across Europe lost ground, with the UK's FTSE and Germany's Dax indexes down about 1.5%. (more)
His advice is simple: Come clean, cut up your credit cards and take back your life.
In a segment that aired this morning on on "Good Morning America," the radio talk show host revisited nine people who had gotten his straight-talk advice about their debt troubles last year, checking up on them to see how they were doing.
When Ramsey met with them in January 2009, he learned that they collectively owed more than $260,000 -- not including their mortgages.
Inspired by Ramsey's advice, they've paid off more than $140,000 of their debt -- despite divorce, illness and the daily challenges of sticking to strict budgets in a tough economy. (more)