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Nucor (NUE) rises on ore price cut

NUE logoNucor (NYSE: NUE - option chain) shares are rising today after iron-ore miner Rio Tinto (NYSE: RTP) agreed to cut its iron ore prices for Japan's Nippon Steel Corp by more than 30%. The steelmakers have already been driven lower as demand for their product has slowed, but now they are less likely to be charged boom-time prices for their raw materials on top of that. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on NUE.

NUE opened this morning at $39.44. So far today the stock has hit a low of $39.14 and a high of $41.41. As of 11:35, NUE is trading at $41.25 up 1.16 (2.9%). The chart for NUE looks bearish and S&P gives NUE a negative 2 STARS (out of 5) sell ranking.

Continue reading Nucor (NUE) rises on ore price cut

Toyota posts first annual loss in 59 years

Toyota 2009 LossGiving a clear indication of just how low demand for new autos has fallen, the world's largest car maker, Toyota (NYSE: TM) posted its first annual loss in 59 years this morning.

We all know that the auto industry is in major trouble. We have America's big three all fighting for their lives, and Chrysler has already been forced to file Chapter 11 bankruptcy.

Continue reading Toyota posts first annual loss in 59 years

G-20 members agree on a $1 trillion stimulus and other reforms

The G 20 countries wrapped up their ground breaking summit with amazing cooperation among members. The tackled a wide range of problems and were able to agree on just about every key issue.

Let's look at some specific policies that the G 20 members agreed upon:

  • Regarding the matter of stimulus, they agreed to boost the International Monetary Fund's lending power to around $750 billion.
  • They also unveiled a $250 billion expansion of the IMF's reserve currency, referred to as "special drawing rights." This will boost liquidity in the global financial system by expanding member countries' foreign exchange reserves.
  • They agreed to selling gold to help poor countries.

Continue reading G-20 members agree on a $1 trillion stimulus and other reforms

G-20 split on stimulus program and financial reform

The players at the G-20 summit have opened the curtain on Act 1.

First we have Japanese Prime Minister Taro Aso. He holds the position that a strong stimulus program is the only means to pull Europe and the world out of the current crisis. He cited Japan's experience in the 1990s when Japan used a strong stimulus as a way to stimulate growth. He also cited Japan's current stimulus package, which amounts to $720 billion, and he even said that Japan would discuss further stimulus if the need arises.

Standing in opposition is German Chancellor Angela Merkel. She is firmly opposed to more stimulus and demands to know why it is needed. She believes that excessive public spending will not assure a vital recovery.

Continue reading G-20 split on stimulus program and financial reform

Bank of Japan is buying Japanese government bonds

Japan, the world's second largest economy is facing a sharp downturn. To try and stimulate its economy, Japan is using the financial tools used by the US and UK. The Bank of Japan( BoJ) said that it is increasing its purchases of JGB's (Japanese Government Bonds) from y 1,400 billion to y 1,800 billion per month. A central bank buying its bonds has the effect of creating new money that will flow into the economy. Japan is careful to say that this is not "quantitive easing" or just printing money, but in reality it will have the same effect.

Continue reading Bank of Japan is buying Japanese government bonds

The U.S. dollar is still king

What do you look for in this crazy world of finance? When it comes right down to it, it is a country's currency that is the best indicator to the question: "How am I doing?"

Let's see how the currency markets around the world are doing. The dollar is still king. It moved to its highest level since 2006. This is an indication that with all the troubles the U.S. is having, the U.S. is still the strongest economy in the world and the U.S. dollar is still the currency most prized throughout the world.

Continue reading The U.S. dollar is still king

Auto sales continue to weaken

February auto sales figuresWe all know that the auto industry has been in crisis over the past year, and February was yet another tough month for auto sales, with hefty declines in sales for the major companies.

Analysts have been hoping that the auto industry is going to turn the corner during the second half of this year, but we are still waiting for any sign that things are getting back to normal as General Motors Corporation (NYSE: GM), Ford Motor Company (NYSE: F) and Toyota Motor company (NYSE: TM) all reported major drops in sales last month.

Continue reading Auto sales continue to weaken

Japan considers buying stocks

Japan must be in a near panic mode. The government is considering buying shares to prop up the market. Kaoru Yosano, finance minister, has instructed government officials to look into ways of countering falling stock prices. Such a move is not new. In the 1960's two consortia spent $4.1 billion to counter the selling pressure over a two year period.

Continue reading Japan considers buying stocks

Honda Motor president bowing out

Honda steering wheelIn yet another bit of news from the automotive industry, Honda Motor Company (NYSE: HMC) president Takeo Fukui announced today that he will be stepping down from his post in June after six years with the second-largest Japanese automaker.

Fukui is passing the torch to Takanobu Ito, who currently serves as chief of automobile operations. The 64-year-old Fukui said, about passing the job to his 55-year-old successor, "It is very important to have a generational change in management every few years." It will be a challenging post for Ito, who assumes the reins as Honda and the overall auto industry face falling sales. The company is expecting an earnings loss of nearly 90% this year to $860 million (but at least they are still hoping to turn a profit).

Putting it mildly, it has been a turbulent time in the auto industry. Toyota Motor Corp. (NYSE: TM) replaced its president in January. Mazda announced changes in management in November. And Nissan president has delegated some of his responsibilities of late. Meanwhile, on American soil ... well, we all know the saga the Big-Three is facing.

Beth Gaston Moon works for WeSeed.com, "The stock market for the rest of us." The above comments are not intended as trading or investment advice.

Japan's economy falls its hardest since 1974

Japan, which boasts the second-largest economy in the world, is facing exceptionally large recessionary pressures as well, as its gross domestic product recoiled at a year-over-year rate of 12.7% in the fourth quarter of 2008.

This marked the nation's worst GDP number since the first quarter of 1974, when the oil crisis helped contribute to a 13.1% collapse. The dismal figure, worse than anything posted (yet) by the U.S. or struggling European nations, also exposes Japan as among the hardest hit by a sweeping global recession. (Well, at least misery loves company). Some are speculating that the crisis could prompt Japanese officials to write up another stimulus package, which would join two packages, together worth 50 trillion yen ($545 billion), that were announced late last year.

Continue reading Japan's economy falls its hardest since 1974

PIMCO says recession will deepen without more fiscal stimulus by nations

The manager of the world's largest bond fund, PIMCO, has laid-out in unambiguous terms the problem facing the global economy in the quarters ahead: The U.S. and global recession will worsen -- with a "second wave" of turmoil -- unless governments increase fiscal stimulus and spending plans.

"The economic setback is still in its early stages," Koyo Ozeki, head of Asia-Pacific credit research at Pimco's Tokyo office, wrote in a report published on PIMCO's web site. "Any further decline in housing prices could accelerate the downturn, intensifying the pernicious feedback loop and possibly leading to a second wave in the financial crisis in the next six to 12 months."

Continue reading PIMCO says recession will deepen without more fiscal stimulus by nations

Oil demand in fastest drop since 1982

The International Energy Agency (IEA) said that demand for oil is set to fall at the fastest rate since 1982. World demand is expected to be about 84.7 million barrels per day. This is the second successive year of falling demand since 1982-83. Even in China, where demand has been rising steadily, it is expected that consumption will fall off sharply this year.

However, the IEA warned that if there is a substantial draw down of stocks, prices could be higher by the end of the year.

Continue reading Oil demand in fastest drop since 1982

Is Japan on the ropes?

Wow! Japan saw its industrial output plunge by 9.6% month to month in December. This is coming from the world's second largest economy. The Bank of Japan warned of an unimaginable contraction in the Japanese economy.

While the December drop was most severe, Kazuo.Momma, researcher for the central bank, said that there could be an even greater decline between January and March. He said it would be quite a while before inventories are fully adjusted and output recovers.

Continue reading Is Japan on the ropes?

Nissan (NSANY) job cuts run deep

For employees of Japan's third largest automaker, Nissan Motor Co. (NASDAQ: NSANY), the news today was grim. Nissan announced it will be eliminating a hefty 8.5% of its workforce, or roughly 20,000 jobs.

The news comes at a time when all automakers are struggling to deal with the global recession that continues to keep car buyers off the showroom floors. Nissan said it expects to report its first annual loss in the past nine years.

For the company's most recent quarter, October through December, Nissan reported a $904 million quarterly loss.

Continue reading Nissan (NSANY) job cuts run deep

How the U.S. economy is like GM

General Motors Corp.'s (NYSE: GM) problems are well known: declining growth, huge debts, and enormous contingent liabilities (such as for retirement and health care benefits).

Yes, it also sounds like the U.S. economy, huh?

Well, this is the gloomy assessment from Ray Dalio, who is the chief investment officer of Bridgewater Associates. A few years ago, he warned about the overleveraged economy. More importantly, he positioned his portfolio for the New Reality.

In fact, in 2008 the Bridgewater Pure Alpha 1 fund was up 8.7% and the #2 vintage increased 9.4%.

So, what's is his thinking now? Unfortunately, it's fairly gloomy (this is according to a great interview in this week's Barron's, which is a paid publication).

Continue reading How the U.S. economy is like GM

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Symbol Lookup
IndexesChangePrice
DJIA-223.328,280.74
NASDAQ-49.201,796.52
S&P 500-26.91896.42

Last updated: July 04, 2009: 07:20 AM

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