S&P 500 .......869.42 ..............-3.38 (-0.39%)
Nasdaq ..........1,510.32 ............-19.92 (-1.30)
The Treasury Department said it auctioned $27 billion in six-month bills at a yield of 0.25 percent, an all-time low. That's down from a rate of 0.285 percent last week.
The outlook survey shows indexes for production, rate orders and shipment volumes at a lower level, with labor markets weaker and 31 percent of respondents admitting that staff reductions had occurred and 38 percent say work hour declines had taken effect.
So far, signs are mixed. The Energy Information Administration projects crude oil will trade at an average of $51 a barrel in 2009,...
- 60 Minutes: New Wave Of Mortgage Rate Adjustments Could Force More Homeowners To Default.
Enjoy the video then think about the ProShares UltraShort Real Estate (ETF) (NYSE:SRS) ..Now the Alt-A and option ARM loans made back in the heyday are starting to reset, causing the mortgage payments to go up and homeowners to default.
Rising ETF holdings are generally described as supportive for a commodity suchas gold or silver, because it generates actual physical demand, analysts say.“It’s a huge trend,” said Tom O’Brien, analyst and editor of The Gold Reportnewsletter. “Every time somebody buys the GLD, the actual fund has to buy thephysical gold.That’s because metal is put into storage to back the ETF shares.“It’s a positive sign that underlying demand is firm,” said Jeffrey Nichols, managingdirector of American Precious Metals Advisors and publisher ofNicholsOnGold.com. “It’s similar to the indications we’ve been getting for manymonths now from the coin market, where premiums on American Eagles orMaple Leafs or other major bullion coins have been very high because of theshortage of product from the mints.”
- Obamamania Helps Solar, Granite
The charts are showing signs of Obamamania in solar and road-building stocks.
Giving a rough outline for his economic stimulus plan in late November,President-elect Barack Obama spoke of “rebuilding our crumbling roads andbridges, modernizing schools that are failing our children, and building windfarms and solar panels; fuel-efficient cars and the alternative energy technologiesthat can free us from our dependence on foreign oil and keep our economycompetitive in the years ahead.”
The details of that plan will likely be of great interest to investors in solar stocksand in stocks like Vulcan Materials (VMC) and Granite Construction (GVA). ..... First Solar(FSLR), a stock-market star in late 2007 and early2008, is set to have another run in early 2009 because of gathering momentum,technicians say....On Friday, California utility PG&E (PCG) said it struck a deal with SempraEnergy (SRE) to provide energy from Sempra’s thin-film solar power plant. First Solar supplied the panels, construction and engineering forthe project. “Rising moving averages” indicate “a significant buyingmomentum for the stock,” said Beacon Equity Research,in a note about First Solar on its Web site.
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