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This Day in MV History: 2012

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These articles were published on Minyanville.com on 07th May in History. Checkout how time flies, enjoy reading!

Best of the Blogs, Real Estate: Barclays Is Bullish on the Housing Market

on May 07, 2012 8:15 am by Christopher Witrak

Housing Wire Link: Barclays bullish on housing "Analysts at Barclays Capital (BCS) conclude that the housing market is no longer a drag on the economy." "Based on recent macroeconomic data, paired with the latest round of homebuilder results, we are more bullish on housing and the fundamentals of the homebuilders," they say in a Friday research note." Business... Read More


European Elections: At Full Speed Toward the Debt Iceberg

on May 07, 2012 9:00 am by Fil Zucchi

MINYANVILLE ORIGINAL The beginning of Europe's austerity crusade dates back to Thanksgiving of last year, when Germany essentially failed an auction of its bonds. That was the "come to Jesus" moment that got the ball rolling on the notion that the Ponzi scheme known as "sovereign debt" financing had to come to an end or else. Coincidence or causality, it also ma... Read More


Pre-Market Primer: What Do You Get When You Put Merkel and Hollande Together?

on May 07, 2012 9:15 am by Vincent Trivett

MINYANVILLE ORIGINAL It's official. Europe is rejecting austerity. Just this past weekend, France and Greece both rejected the parties that supported belt-tightening policies. In France, it was no surprise when Francois Hollande trounced Nicolas Sarkozy to become the first Socialist President of France since Francois Mitterand left office in 1995. Hollande is firmly against... Read More


Vertex Pharmaceuticals and Sirius XM Radio Among Most Active Stocks in Pre-Market Today on the Nasdaq

on May 07, 2012 9:15 am by Christopher Witrak

MINYANVILLE ORIGINAL The three most active funds and stocks in pre-market trading on the Nasdaq were Vertex Pharmaceuticals (VRTX), Sirius XM Radio (SIRI), and Ericsson (ERIC) as of 9:00 a.m. Investors traded 5,087,210 shares of Vertex Pharmaceuticals, which was up $20.64, or 55.17%. Shares of Vertex Pharmaceuticals soared after it released preliminary data that showed its experimental drug VX-80... Read More


European Elections: The Morning After

on May 07, 2012 9:20 am by Todd Harrison

MINYANVILLE ORIGINAL Editor's Note: Todd posts his vibes in real time each day on our Buzz & Banter. Hey baby; there ain't no easy way out. -- Tom Petty Midday Friday, after my plane touched down in Austin for the Tom Petty anniversary weekend with my betrothed, the first thing I did was pull up market information on my smartphone. That's the thing about carryin... Read More


Upgrades & Downgrades: Everything's Rosy at Madison Square Garden

on May 07, 2012 9:25 am by Justin Sharon

MINYANVILLE ORIGINAL The March employment report was released when no one was at work on Wall Street and markets were unable to react - unfortunately April's wasn't so lucky. Dow Industrials (^DJI) promptly fell 168 points on Friday following the disappointing payroll data, and a 2.44% five-session skid in the S&P 500 Index (^GSPC) represented its wor... Read More


Minyanville's T3 Morning Market Call: Futures Recovering From Sharp Losses Following European Election Results

on May 07, 2012 9:25 am by T3Live.com

The Minyanville - T3Live Morning Market Call is brought to you by T3Live.com. T3Live.com is an online financial media network and education platform that provides active traders and investors with market analysis, real-time access to strategies, and in-depth training from real traders, real-time©. Learn more.S&P futures were down as much as 20 handles last night following election resul... Read More


The Dollar and Gold Have Eyes on Europe

on May 07, 2012 9:30 am by J. W. Jones

Friday saw heavy selling pressure coming into risk assets, specifically equities and oil. However, the real driving force behind the selling pressure is likely the result of several unrelated economic/geopolitical events. Clearly the unemployment report had an impact on price action, but strangely enough, it would appear to those more in tune with reality that market participants want lower prices... Read More


American International Group and SPDR S&P 500 ETF Among Most Active Stocks in Pre-Market Today on the NYSE

on May 07, 2012 9:30 am by Christopher Witrak

MINYANVILLE ORIGINAL The three most active funds and stocks in pre-market trading on the NYSE were American International Group (AIG), SPDR S&P 500 ETF (SPY), and AT&T (T) as of 9:15 a.m. Investors traded 28.07 million shares of American International Group, which was down $2.27, or 6.90%. The Treasury Department announced today that it would sell 163.9 million shares of the company for $3... Read More


Chart of the Day: Baidu

on May 07, 2012 9:45 am by Michael Kahn

Editor's Note: For more from Michael Kahn, see the Quick Takes Pro blog. Stay on top of the best financial news and commentary on Wall Street by following us @Minyanville. Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.... Read More


Occupy Wall Street and Liberate the Yield Curve

on May 07, 2012 10:15 am by Howard L. Simons

MINYANVILLE ORIGINAL If you find yourself at a too-tedious confab and would like nothing better than a few hors d'oeuvres and something with which to wash them down, there is no better way to clear a path to your goal than a discussion of factors affecting the yield curve: The sea of humanity will part before you as if you were Moses. If you find yourself at a serious financial gath... Read More


Best of the Blogs: Why Google Is Investing in Machinima

on May 07, 2012 10:50 am by Kathleen Culliton

This column highlights the most interesting and useful business and financial commentary from around the Web each day. Use our comments section to post your own suggestions for blog content that you've read or written. All Things D Link: Google Gets Deeper Into the Content Business, By Putting Money Into Machinima "Google (GOOG) has been handing out m... Read More


Expect a Rally Attempt This Week if S&P 1358 Holds

on May 07, 2012 10:55 am by Jeff Saut

Toto, I have a feeling we're not in Kansas anymore. -- Dorothy, The Wizard of Oz While most people know "The Wizard of Oz" as one of the most popular films ever made, not many people know that the book was based on an economic and political commentary surrounding the debate over "sound money" that occurred in the late 1800s. Indeed, L. Frank Baum's bo... Read More


Pfizer Drug Safety Issues Raised Ahead of FDA Panel

on May 07, 2012 12:00 pm by Brett Chase

MINYANVILLE ORIGINAL Pfizer's (PFE) experimental pill for rheumatoid arthritis increases the risk of cancer and serious infections, raising the question whether its benefit outweighs the risk, according to a government review of the treatment. The findings by Food and Drug Administration staff are important as Pfizer prepares for a review of the pill by a panel of government expert advisers... Read More


Today in Tech: Apple Strikes a Major Blow Against Samsung

on May 07, 2012 12:10 pm by Vincent Trivett

MINYANVILLE ORIGINAL Today, a verdict is expected in the copyright case between Google (GOOG) and Oracle (ORCL) over Google's use of Java APIs without a license. It was always widely assumed in the software industry that APIs aren't subject to copyright. If Oracle, the owner of the Java language, wins this stage of the case, and APIs are deemed as copyrightable, the precedent would have hu... Read More


'Angry Birds' Maker Rovio Reveals Skyrocketing Growth, Highlighting the Increasing Dominance of Smartphone Gaming Platforms

on May 07, 2012 12:15 pm by Michael Comeau

MINYANVILLE ORIGINAL Finland's Rovio Entertainment, maker of the phenomenally popular Angry Birds series of mobile video games, just released its full-year 2011 financial results, and the numbers are spectacular -- particularly when compared with the old-school of the video-game industry. For 2011, Rovio's revenues hit $106.3 million (€75.4 million), jumping more than ten-fold from... Read More


Four Reasons Why Gold Stocks Have Underperformed

on May 07, 2012 12:40 pm by Jordan Roy-Byrne

As the gold stocks continue to fall to new lows and struggle to find a bottom, it is important to keep things in perspective. Before I get to the visual comparison with the 1960s and 1970s, I want to touch on the reasons why the gold stocks have underperformed in recent months and years. First, the sector had a terrific run that would have to be corrected. From late 2008 until the end of... Read More


Three ETFs to Use to Follow Gasoline Down

on May 07, 2012 12:45 pm by Jay Pestrichelli

Have you noticed gasoline has dropped 13% in the last five weeks? I didn't, either, but it has. Gasoline futures topped out this year with an intraday price of $3.4278 per gallon on April 3. But they have pulled back substantially, dropping intraday to 2.91 per gallon. If you're like me, you hardly noticed this change and that's because the price at the pump hasn't f... Read More


Equity Versus the Dollar

on May 07, 2012 1:15 pm by Chris Vermeulen

Over the weekend I had an interesting conversation with a local trader. We typically meet a few times a year to share our market outlooks and new trading tools and techniques. We usually finish our session off in a debate about whether, and how much, we think the US market is manipulated and how to trade around it. Talking about alleged market manipulation always opens up a can of worms and spa... Read More


Risk Markets Should Be Set to Bounce - Even if It's of the 'Dead Cat' Variety

on May 07, 2012 1:15 pm by Tim Thielen

MINYANVILLE ORIGINAL Unfortunately for the bulls out there, I'm seeing some potentially bearish developments in the key currency gauge of risk, the Australian dollar / Japanese yen cross (AUDJPY). Fortunately for the bulls, however, I am not seeing any clear confirmation (yet) from euro / Japanese yen cross (EURJPY). So, while a yellow caution flag has gone up, no red... Read More


Will Aubrey McClendon Sink Chesapeake?

on May 07, 2012 1:35 pm by MoneyShow.com

There are plenty of real economic issues that should be of concern to global markets, including softening US economic data, a recession in the eurozone and the United Kingdom, and a still-unfolding EU sovereign debt crisis. With all those genuine problems, there's certainly no need to manufacture crises out of thin air. Unfortunately, in the relentless pursuit of an attention-grabbing... Read More


Vertex Pharmaceuticals Soars on Cystic Fibrosis Drug Study

on May 07, 2012 1:40 pm by Brett Chase

MINYANVILLE ORIGINAL Vertex Pharmaceuticals (VRTX) stock surged almost 50% Monday after the company said a combination of two drugs helped cystic fibrosis patients' lungs work better in a study. If the positive results hold up after additional testing, it's a significant development that potentially increases the likelihood of approval for the drug combo and raises expectations for pot... Read More


Which ETFs Deserve More Respect?

on May 07, 2012 1:45 pm by Benzinga.com

The late, great comedian Rodney Dangerfield used to complain about a lack of respect. There are plenty of ETFs on the market today that face the same plight. With a constituency that is rapidly approaching 1,500 combined ETFs and ETNs, the exchange-traded products industry is bound to have a few products that get no respect. With the proliferation of ETFs and ETNs has come the... Read More


Who Is Responsible for the Housing Collapse?

on May 07, 2012 1:50 pm by Andrew Jeffery

MINYANVILLE ORIGINAL The darkest days of the housing market's downward spiral may be behind us, but the battle over who should shoulder the blame is rambling on. In Friday's Wall Street Journal, Nick Tamiraos cited a paper published by the Federal Reserve Banks of Boston and Atlanta that aims to dispel the popular notion that Wall Street, not Main Street warrants the harshest chiding fo... Read More


What the Post-Crisis Novel Can Teach Us About Finance

on May 07, 2012 2:30 pm by Alex Brokaw

Money is a horrid thing to follow, but a charming thing to meet. -- Henry James It's been a long day. The markets crushed you. You crawl home, pour a tall drink and pick up that book you've been meaning to start, a novel your friend who teaches Early English Lit gave you. Something to get your mind off of things. VIX Index. Oil Futures. Quantitative Analysis. Mortgage-Ba... Read More


Best of the Blogs, Emerging Markets: Do Political Rumblings in China Portend Global Economic Disaster?

on May 07, 2012 2:30 pm by Kathleen Culliton

Minyanville's daily roundup of some of the best financial commentary on emerging markets from around the Web. CNN Money: Term Sheet Link: China Reminds Business Leaders of its Harsh Realities "Twenty years on, with Hillary Clinton trying to defuse the crisis brought on by the courageous Chen Guangcheng, China is already the second-largest economy on earth, and... Read More


One Way Apple Could Kill Its Empire

on May 07, 2012 3:00 pm by Rocco Pendola - The Street

There's no question that Apple (AAPL) benefits from its ability to extract considerable subsidies from wireless carriers. While hardcore fan boys and girls would happily shell out $600 for an iPhone, most iPhone owners might opt for another, less expensive device in the absence of a subsidy. At the very least, they might be less likely to take the plunge multiple times as Apple introduces... Read More


Financial Armageddon: Should a Rational, Thinking Person Be Worried?

on May 07, 2012 3:05 pm by Robert Barone

MINYANVILLE ORIGINAL You've probably seen them in your email, or even on TV - I'm talking about the "approaching financial Armageddon" forecasts. People must be responding to them, because they keep on appearing in my email - several per week, and others I know get them too. Some of these forecasts discuss the explosion in the Fed's balance sheet (i... Read More


Financial Stocks Roundup: Buffett Likes Wells Fargo, Might Consider JPMorgan Chase

on May 07, 2012 3:25 pm by Vincent Trivett

After two straight sessions of declines, financial stocks are mixed, with some outperforming the S&P 500 (SPY) today. Bank of America (BAC) and Fifth Third Bancorp (FITB) lead the pack, with shares up 2.91% and 3% respectively. The Financial Sector Select SPDR ETF (XLF) gained 0.66% and the KBW Bank Index (^BKX) rose 1.19%. This comes after heavy selling in earlier trading and the futu... Read More


ETF Inflows Favor Fixed Income Over Equity

on May 07, 2012 3:30 pm by Wayne Ferbert

Fund flows in to exchange traded funds (ETFs) have followed an interesting trend so far in 2012. In fact, the trend has been different than I expected. The stock market has had a very good rally in Q1 2012 - up 10%+. This followed the last quarter of 2011 which was also 10%+. Usually, such a rally would drive investors to the market for equities. No one wants to miss the boat, after all.... Read More


Austerity Not Yet Voted Out of the Crude Oil Market

on May 07, 2012 4:30 pm by Rod David

The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract's current "front month." Their direction tends to correlate with any ETFs listed for each. Today's Highlight: European election fallout helped currencies to extend their recent trending while taking the long bond and... Read More


S&P 500 Technical Update

on May 07, 2012 4:30 pm by Andrew Nyquist

This past weekend led to additional volatility in the financial markets, as expected. On Friday, I wrote about last week's technical breakdown and poor closing print on the S&P 500 (SPY) (see S&P 500 Technical Update: What Happened?). This breakdown set the tone for Sunday night's futures session, as European election results were uninspiring and the talk around town. In fac... Read More


Best of the Blogs, Media: Comcast's Acquisition of NBC Is Being Questioned

on May 07, 2012 4:35 pm by Christopher Witrak

This column highlights the most interesting and useful financial commentary on media from around the Web. Use our comments section to post your own suggestions for blog content that you've read or written. The Hollywood Reporter Link: Sen. Al Franken Questions Comcast's Handling of NBC Acquisition "In a letter to the FCC and Dept. of Justice, Minnesota US Senator and fo... Read More


Minyanville's T3 Daily Recap: Stocks Quietly Digest European Election Results

on May 07, 2012 5:00 pm by T3Live.com

The Minyanville - T3Live Daily Recap is brought to you by T3Live.com. T3Live.com is an online financial media network and education platform that provides active traders and investors with market analysis, real-time access to strategies, and in-depth training from real traders, real-time©. Learn more.Stocks oscillated between small gains and losses Monday, with more action coming in the f... Read More
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