Friday, stock market took a nosedive apt from the initiate. Then it became confused as stock index futures trading was suspended when the daily limits were touched in those markets. Only to turn highly volatile during the last hour, that the Volatility index touched an all time high of 89 at one time. Still, all indices couldn’t edge out of the negative territory.
GLOBAL PICTURE
European and Asian markets all closed in the negative territory.
British pound dropped after the GDP data showed an alarming decrease. UK GDP went down BY -0.5%, more than the expected -0.2%.
OPEC members finally agreed to cut oil production by 1.5 mln barrels/ per day from November.
US GOVERNMENTAL
Alpha Bank & Trust of Alpharetta became the sixteenth bank to fail. FDIC took over as receiver.
Stearns Bank will assume the failed bank’s insured deposits. Cost to FDIC is estimated to be over $158 mln. The failed bank had $346.2 mln deposits.
Alpha Bank had total assets of, and total deposits of $346 mln. Out of the $354 mln assets of the
Stearns Bank will retract roughly $39 mln, the rest will go under FDIC control.
The Treasury is expected to divulge a bailout plan for regional banks and another for insurance companies.
It will also be receiving $7.7 bln of preferred stock and warrants from PNC Financial Services (PNC) in return for capital provided under the bailout plan.
US ECONOMIC DATA
National Association of Realtors Existing Home Sales Data:
Existing home sales increased BY 5.5% in September which translates to an annualized rate of 5.18 mln units.
The regional data is interesting: West +16.8%, Midwest +4.4%, South +2.2%. But Northeast-1.2%
Total housing inventory fell 1.6 % to 4.27 mln existing homes available for sale. That is equivalent to a 9.9-month supply, compared to the 10.6-month supply in August.
Crude oil DOWN by -$4.47 (-4.5%) to $64.75
Gold UP by $15.60 (2.18%) to $730.30.
CBOE Volatility (VIX) settled at 79.31,back UP by 11.48 from the previous day.
US Dollar continued its rally, though chances for lower interests rates are high.
The dollar index, which measures the greenback’s value against a basket of six major currencies, was at 86.44, a 52-week high.
STOCK MARKET INDICES
Dow was DOWN by -312.30 (-3.59%) to 8,378.95
S&P 500 DOWN by -31.34 (-3.45%) to 876.77
Nasdaq DOWN by -51.88 (-3.23%) to 1,5520.3
NYSE
Daily Volume: 1.56 bln
A/D Ratio: 585 stocks advanced against 2633 declined
52-week Hi/Lo: 12 stocks climbed to new Highs while 902 went down to new Lows
Nasdaq
Daily Volume: 2.65 bln
A/D Ratio: 633 stocks advanced against 2248 declined
52-week Hi/Lo: 0 stock climbed to new Highs while 850 went down to recent Lows
MARKET NEWS
One subsector that stood out were the insurance stocks like Prudential (PRU) and MetLife. This followed news report that government will extend bailout benefits to insurance companies too.
Chrysler will reduce 25% of its work force, about 15,000 jobs.
AIG (AIG) has so borrowed $90.3 bln form the Treasury. But it now says it needs more than the allocated $122.8 bln.
M&A NEWS
PNC Financial Services (PNC) is buying National City (NCC) at $2.23 per share. The conversion will be .0392 shares PNC for each NCC part. The total deal comes to $5.2 bln.
COMPANY RESULTS
* Companies that exceeded market’s expectations on quarterly earnings:
Aflac (AFL), Burlington Northern Santa Fe (BNI), Cache (CACH)Timken (TKR), ITT Industries (ITT), Fortune Brands (FO), Microsoft (MSFT)
* Companies that confirmed market expectations:
T. Rowe Price Group (TROW), Ingersoll-Rand (IR)
* Those that missed the forecasts:
Exelon (EXC)
ANALYSTS’ RATINGS
- Stocks upgraded:
American Campus Communities Inc (ACC), Amgen Inc (AMGN), Biogen Idec Inc (BIIB), Celestica Inc (CLS),Colonial Bancshares Group Inc (CNB), Dean Foods Co (DF), Diamond Offshore Drilling Inc (DO),DR Horton Inc (DHI), Elan Corp Plc (ELN), Emulex Corp (ELX), Estee Lauder Companies Inc (EL),Flextronics Intnl Ltd (FLEX), Gilead Sciences Inc (GILD), Hub Group Inc (HUBG), Innophos Holdings Inc (IPHS),Kimberly-Clark Corp (KMB), ManTech International Corp (MANT), Monolithic Power Systems Inc (MPWR),National Penn Bancshares Inc (NPBC), Fine Energy Inc (NBL), Range Resources Corp (RRC), Stamps.com Inc (STMP),
Trimble Navigation Ltd (TRMB), United Rentals Inc (URI) and Western Digital Corp (WDC).
- Downgraded stocks are:
AES Corp Inc (AES), Affymetrix Inc (AFFX), Barclays PLC ADR (BCS), BIDZ com Inc (BIDZ),
Cabot Microelectronics Corp (CCMP), Cheesecake Factory Inc (CAKE), Credit Suisse Group ADR (CS),CyberOptics Corp (CYBE), France Telecom ADR (FTE), Janus Capital Group Inc (JNS), Kennametal Inc (KMT),LKQ Corp (LKQX), Netgear Inc (NTGR), Penske Auto Group Inc (PAG), Rightnow Technologies Inc (RNOW)
Texas Capital Bancshares Inc (TCBI) and Verigy Ltd (VRGY).
- This stock received both upgrade and downgrade:
Zimmer Holdings Inc (ZMH).
WEEKLY SCORECARD
All indices are detached falling on a weekly basis:
Dow-5.3% S&P 500-6.8% Nasdaq-9.3%
POINTERS TO THE FUTURE
The FOMC is to meet next week again and the chances of another interest rate cut is high – may be to 1.25% or even 1%.
The percentage of unemployment Americans can be as high as 9% next year – about 4.5 mln.
We may see the birth of big regulatory agency in a few months – Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) merged into one organization.
Filed under Mercury Auto Insurance by on Feb 26th, 2011. Comment. 
It is recommended that families should think
children’s health insurance programs as a way to screen the expenses should any of the children fetch ill or require any design of surgery or other medical expenditure.
Most children’s health insurance programs are relatively affordable and they can put the family from a lot of stress and distress caused by the financial burden of medical expenditure should it ever be required.
There are a wide range of children’s health insurance programs to resolve from with most insurance companies and you really need to determine what level of cover best suits your needs and then carefully read all the terms of the children’s health insurance program to determine whether a particular program sufficient for you.
With increasing medical expenditure occurring all the time it is well worth considering investing some money in a children’s health insurance program as it is generally not until something happens that you realize how important such an investment is.
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Filed under Mercury Auto Insurance by on Feb 17th, 2011. Comment.
Soon after 9/11 the taxpayers bailed out the important airline carriers mainly because we have been convinced we couldn’t permit them to fall short We have now been provided the exact same sob story for the banking market, main insurance carriers, and now the massive 3 auto manufacturers.
I love all the so-known as at no cost-advertise fiscal geniuses in the media, as well as the corrupt, clueless Politians who have coined the phrase as well enormous to fall short According to Investor Words.com the definition of a markets country’s economy is, A system of allocating resources based mostly only on the interaction of industry forces, such as supply and demand A true current market current economic climate is no charge of governmental influence, collusion and other external interference.Based mostly on this definition, we haven’t had a no cost market place country’s economy for some time As long as we can get our designer coffee, food, clothes, along with mortgages and cars with no bucks down, the economic climate is just fine We are now seeing how the intervention of both government, and the private banking sector has destroyed our so-named zero cost advertise economic system And make no mistake they are just obtaining started.Immediately after AIG was criticized over executives taking vacations to an unique resort right after being provided their taxpayer bailout, guess what, they had been caught once once more at an unique resort in Phoenix, Arizona soon after receiving a second bailout from the taxpayer Where is the outrage We have unemployment spiking, folks losing their homes, not able to pay their bills, and Treasury Secretary Paulson is giving our bucks to AIG so their fat cat executives can get facials, massages, and sip on costly bottles of wine?Now GM specially is asking for a taxpayer bailout and will almost certainly be provided 1 even prior to the next administration takes office I acquire fascinating, still, that even though Honda, Toyota, Nissan, and Hyundai sales are down, they don’t seem to be in economic dire-straits like GM, Ford, and Chrysler.In a costless-market place financial crisis, some companies will fall short and some will succeed In a no cost marketplace financial state, we aren’t supposed to rewrite its definition based mostly the size of the organization that fails According reports, GM, Ford, and Chrysler have made efforts to restructure and reorganize and continued restructuring and reorganization will no doubt result in substantial layoffs In spite of this, it is not the role of the taxpayer to bailout a private-sector organization of any size or shape.There is no doubt that a number of executives in the banking business, and top officials of our government deserve to be hauled away in handcuffs and have the book thrown at them Some of the blame nonetheless, need to also come from the reflection in the mirror Our abuse of credit and the reluctance to live within our means, has aided in the monetary mess we locate ourselves in these days.# .
Filed under Mercury Auto Insurance by on Nov 9th, 2010. Comment.
Countless senior residents have been loyal to their car and motorbike insurance cover policy specialists for years, more often than not decades Having the identical dependable insurance cover policy agent and provider is comforting But the car insurance program business has turn out to be extra aggressive, actively vying for the senior citizen marketplace It makes sense for senior residents to collect facts to examine their present charges, particularly at the time of vehicle insurance company renewal.
Acquiring estimates for car an insurance plan is an simple technique With just a number of clicks on the personal computer or toll-100 % free phone calls, anybody can collect a listing that compares automotive insurance cover by services and charges For senior residents, who commonly are on fixed incomes, this can be a extremely price-successful exercise, possibly saving them hundreds of dollars throughout an insured period Obtaining Comparable PremiumsPurchasing car policies is like any other very important, prolonged-term buy The key is to take time to analysis and shop for the very best deal with trustworthy car policies institutions.The following is a sample of insurance policies services and insurance plan brokers offering vehicle insurance company prices on the Online Several have certain advertising programs targeting senior residents.AARP: www.aarp.thehartford.com.
AARP is an advocacy organization for seniors that promotes the interests of folks over 50 years old They offer you automotive insurance cover to members by means of The Hartford.Allstate: www.allstate.com.
Allstate is a well identified insurance plan corporation Rates can be gathered at the above web site or regional agents can be discovered in the phone book and are offered to assist in preparing a free of charge quote.Farmers Insurance policy Group: http://www.farmersinsurance.com.
Via the internet or in individual, a Farmers insurance policy coverage agent can review automobile insurance policy protection, assist identify possible gaps, and consist of any qualifying Farmers Car insurance plan discounts.Progressive Policy: www.progressive.com.
Progressive will generate a quote for their supplier along with comparables of other automobile insurance cover services for unproblematic comparisons.Geico Health care insurance: www.geico.com.
This business enterprise can be accessed via the internet or at one particular of their a great deal of offices It is trouble-free to get a quote; they present flexible payment possibilities and aggressive premiums.Costco: www.costco.com.
Costco provides membership health care insurance as a result of Ameriprise Vehicle & House An insurance policy.Autoinsure: www.autoinsure.org.
Autoinsure has a page with useful health insurance policy details for senior residents They can present rates from all the important automotive insurance packages establishments.Esurance: www.esurance.com.
A rising star among insurance company services that take pride in stating: Esurance doesn’t just deliver dependable health care insurance protection, we also believe in educating customers Their from the internet quote technique is fairly simple to navigate.US An insurance policy: www.usinsuranceonline.com
They will furnish multiple vehicle health care insurance estimates tailored to certain demands within minutes of filling out their easy short form It is simple and easy then to evaluate them aspect by aspect to discover the most beneficial costs and protection.Automobile Policies Prices: www.carinsurancerates.com
Their network of associations and brokers give you a range of car or truck insurances: Farmers, Allstate, AIG, Nationwide, AARP, Safeco Health care insurance, Liberty Mutual, MetLife and Mercury.Every single an insurance policy rate: www.everyinsurancerate.com
EveryInsuranceCompany.com is a handy World wide web directory to obtain nearby insurance coverage institutions, insurance program estimates and low cost insurance policy coverage premiums.Quote Scout: www.quotescout.com.
This web-site will offer estimates from a extended listing of car insurance policy coverage suppliers – literally from A to Z.Insurance policy.com: http://www.health insurance policy.com
Insurance cover policy.com works directly with 15 extremely rated car or truck insurance company organisations in 46 states: 21st Century, Electric An insurance plan, Esurance Automobile Insurance protection, The Hartford, Infinity, Liberty Mutual, Meritplan Insurance policies, MetLife Car Insurance cover, Newport Insurance policies, Permanent Common Assurance Corporation (The Common), Progressive, QBE Policy, Safeco, Travelers Insurance company, and Unitrin Direct.Retaining Car and motorbike Insurance program Premiums DownThere are techniques that senior residents can take responsibility to control their automobile insurance policy fees Here are a handful of suggestions.According to seniorjournal.com, most of the main automobile insurance plans agencies produce a 5 low cost to drivers beginning at the ages of 50 or 55 Having said that, as a group, drivers 75 and older have one particular of the highest costs of fatal daytime accidents Due to the fact of this, it is critical that senior drivers keep proactive and involved in retaining their driving abilities sharp.A large number of states give you an automotive health care insurance low cost for mature drivers if a individual meets a given age criteria and has taken an approved mature driver security program Nearby colleges and senior centers are excellent resources to discover about the classes AARP has regional and on-line access to the program Costco gives you its members an on line drivers’ security training program by means of FirstNet: www.firstnetlearning.com.An additional way to retain automobile insurance policy charges down is to drive a low-profile vehicle, 1 that as component of a group has a lower rate due to minimum repair costs, considered safer and less likely to be stolen Check the Highway Loss Information Institute, www.iihs.org, for the newest related information.Examine present car and motorbike insurance plan desires and requirements Changing to greater deductibles or dropping collision or comprehensive protection for older cars could possibly make sense.Often ask about discounts when buying or renewing vehicle insurance policy coverage.And finally, the finest prolonged-term advice: Consistently drive defensively, remain alert and follow the driving laws Maintaining a secure driving record is the most excellent way to preserve car and motorbike insurance cover fees down .
Filed under Mercury Auto Insurance by on Nov 5th, 2010. Comment.
