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From the Blogosphere
Closing Bell: The good news was the closing bell
Filed under: After the bell, Major movement, Bad news, Industry, Boeing Co (BA), duPont(E.I.)deNemours (DD), Washington Mutual (WM), Genentech Inc (DNA), S and P 500, DJIA, Bear Stearns Cos (BSC), NASDAQ It was looking like we were about to have a good day at about 8:35 EST this morning after seeing flat CPI. But the day ended up long enough and bad that it feels like that CPI report came out a week ago because it was such a long day. <>But today was all about Bear Stearns (NYSE: BSC), and you've already heard the news. If you have ever wondered what a run on the bank looks like and what a majo>...
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European CPI rises at 3.3% annual rate in February - may prevent ECB rate cut
Filed under: International markets, Bad news, Economic data Euro-zone inflation hit a new record annualized rate of 3.3% in February 2008, the the E.U.'s Eurostat office announced Friday, as surging oil prices began to feed through the price system. (pdf)
The 3.3% annualized rate represent 0.1% increase from the previous estimate of 3.2%, which was also a record. The euro-zone is a 15-nation region that uses the euro currency. The core rate, which excludes the often-volatile food and energy costs, increased at a 2.4% annualized rate. <>In February 2008 energy prices increased an alarming 10.4%>...
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Beleaguered Bear Stearns Bailed Out
Just four days ago I wrote about Bankruptcy Fears In Bear Stearns Options.
We've got very active put buying all the way down to the March 30 puts, but the institutional paper is trading in the March 60, 55 and 50 puts.
Like the action in Washington Mutual (WM) we cited Friday, this is bankruptcy fear rearing its ugly head in Bear Stearns, folks.
On the session over 95,000 puts have changed hands in BSC, or nearly five times the open interest in the first 2 ½ hours of trade. Beleaguered Bear Stearns Bailed Out
Today we see the PUT buyers were correct. Reuters is reporting <>JPMorgan, NY Fed to pro>...
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Before the bell: Investors await inflation data
Filed under: Before the bell, International markets, Market matters, Citigroup Inc. (C), Economic data, Federal Reserve Stock futures were lower early morning, ahead of inflation data coming out an hour before the opening bell. It is likely that futures will continue to drift this way and that until the data is reported and only then will we see a clear direction of the session ahead. A speech from Federal Reserve Chairman Ben Bernanke could affect sentiment as well.
On Thursday, stocks started their journey with deep losses due to Carlyle Capital fund announcing it's near collapse, but later...
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CPI unchanged in February, making it easier for the Fed to cut rates
Filed under: Good news, Economic data, Federal Reserve Consumer prices unexpectedly remained the same in February 2008, the U.S. Labor Department announced Friday, as fuel costs dropped, helping retail inflation take a breather.
Also, the core consumer price index rate -- which excludes the often-volatile food and energy categories -- also was unchanged.
Analysts surveyed by Bloomberg News had expected the full rate and the core rate to increase by 0.3% and 0.2%, respectively. Consumer prices increased 0.4% in January 2008.
In February 2008, energy costs fell 0.5%, transportation costs fell ...
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