News and Charts -- TGIF Edition
Ike's long-term fate has two main possibilities:
1) Ike may hit eastern
2) Ike may plow through the
And then there's OPEC. They meet next Tuesday. What the heck are they going to do? ...
OPEC Is Unlikely to Cut Production at Vienna Meet, Goldman's O'Neill Says OPEC is unlikely to cut supply at next week's meeting in Vienna because of the hurricane season, Goldman Sachs Group Inc. Chief Economist Jim O'Neill said.
XX Sean’s note – I disagree. I think OPEC is going to cut either official or unofficial production. Stay tuned.
I’m about to show you some bullish fundamentals. The fact that gold keeps falling in the face of bullish fundamentals is quite bearish for the short term.
A dire fuel shortage caused by poor government planning forced rolling power cuts across the country in the first couple of months of the year. Since February, industries have been limited to 90 percent of their normal power usage.
Indian gold demand rose on Friday as buyers and sellers kept themselves busy ahead of the peak festive season due to a fall in prices, dealers said.
Gold Heads for First Weekly Drop in Three in London as Dollar Strengthens Gold headed for its first weekly drop in three as the dollar strengthened against the euro, curbing demand for the metal as an alternative investment.
Agriculture Prices to Stay High on China, India Demand Global agricultural prices will probably remain higher than in the previous decade as strong demand from China and other developing nations outstrips gains in production, a U.S. agriculture official said.
Australian Wheat Crop May Be Below Forecast on Dry Weather, JPMorgan Says Australia, the world's sixth-largest wheat exporter, may produce less of the grain than forecast because of dry weather, JPMorgan Chase & Co. said.
U.S. Payrolls Fell 84,000 in August; Unemployment Rate Increases to 6.1% The U.S. lost more jobs than forecast in August and the unemployment rate climbed to a five-year high, heightening the risk that the economic slowdown will worsen.
* Home price declines are already approaching those in the Great Depression, when they plunged 30% during the 1930s. With prices already down almost 20%, it's not a stretch to think we might exceed that drop this time around.
* There are about 10 million homeowners whose debt is higher than their home value, which has broad implications for how Americans feel about their wealth and spending habits (read: more pressure on consumer spending).
Global Wealth May Fall 10% This Year Due to Markets, Financial Post Says Global wealth may decline 10 percent this year because of volatility on financial markets, the Financial Post reported, citing a study released by the Boston Consulting Group.
Australia, New Zealand Dollars Decline to Lowest in Two Years Against Yen The Australian and
Australia's S&P/ASX Falls to 2-Week Low; James Hardie, BHP Billiton Drop Australia's stocks fell for the fifth day, with the benchmark index heading to its lowest in two weeks, after rising jobs claims in the U.S. and declining metal prices heightened concerns of a global economic slowdown.