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They Just Don’t Get Best Buy!
WESTCHESTER COUNTY, N.Y. — Marek Fuchs, TheStreet’s media critic, bangs his head on Best Buy. Follow Marek on Twitter: @MarekFuchs.
Stocks Get Back on Track in a Big Way
NEW YORK (TheStreet) — Stocks just wrapped up a stellar week, and given the dire headlines that Wall Street has already managed to shrug off, the bulls look to be firmly back in control. When the swoon set in two weeks ago, it sure felt like catastrophic events like the earthquake in Japan and the [...]
U.S. Provides Freshwater to Nuclear Plant
by Eric Talmadge and Mari Yamaguchi SENDAI, Japan — U.S. naval barges loaded with freshwater sped toward Japan’s overheated nuclear plant on Saturday to help workers struggling to stem a worrying rise in radioactivity and remove dangerously contaminated water from the facility. Workers at the stricken Fukushima Dai-ichi plant have been using seawater in a [...]
Amazon Shouldn’t Pay Sales Tax: Poll
NEW YORK (TheStreet) — Amazon shouldn’t be forced to pay sales tax, according to TheStreet. On the one hand it makes sense why 66.7% of readers don’t want Amazon to start charging sales tax — they don’t want to pay higher prices. But 33.3% believe it is only fair for the e-commerce giant to play [...]
Jobs Data to Tell Tale in Coming Week
NEW YORK (TheStreet) — U.S. investors largely shrugged off global tumult this week, but whether the trend will continue remains to be seen. With a hefty dose of economic data lined up for next week, the domestic picture should be center stage, especially with the government’s March jobs report out on Friday. The market has [...]
Dumbest of This Week’s 5 Dumbest: New York Times Pay-Wall Woes
NEW YORK (TheStreet) –The New York Times’ plans to set up an incredibly porous pay wall was considered the dumbest thing on Wall Street this week by readers of TheStreet. As of late Friday, about 35% of the nearly 160 people who took our poll believe the Times plan is ill considered. The new subscription [...]
Site Lets Small Firms Hedge Fuel Costs
NEW YORK (TheStreet) — Small businesses hurt by rising fuel prices can follow a risk-management strategy once available only large companies. Pricelock offers fuel price protection through what is essentially an insurance policy. It is able to offer the strategy by grouping small businesses, cutting costs — it is done entirely online — and working [...]
CCME: China Watch Mail Bag
This weekend, viewers ask for an update on China MediaExpress Holdings and what’s in store for the company and its stock.
RIM’s Dim Outlook: Weekly Tech Recap
NEW YORK (TheStreet) — Research In Motion wants investors to focus on the PlayBook launch — not the current quarter. =”Scripts/swfobject_modified.js” type=”text/javascript”>if !IE–>endif–>Content on this page requires a newer version of Adobe Flash Player.if !IE–>endif–> “Right now it’s a time of enormous investment and transition,” said co-CEO Jim Balsillie, on the company’s fiscal fourth-quarter earnings [...]
Dion’s Weekly ETF Winners and Losers
NEW YORK (TheStreet) – Here are this week’s winners and losers. Winners iPath Dow Jones UBS Natural Gas Subindex Total Return ETN 12.7% Natural gas has become a highly sought after energy source in light of souring sentiment towards the nuclear industry. Investors, looking for direct exposure to this fuel, have poured into futures-based funds [...]
Trex Shares Surge on Surprise Profit
NEW YORK (TheStreet) — Shares of Trex Co. jumped on heavy volume Monday after the maker of wood-alternative decking products posted a surprise profit for its fourth quarter. The Winchester, Va.-based company reported adjusted earnings of $3.6 million, or 23 cents a share, for the three months ended Dec. 31, on sales of $75.3 million. [...]
Iran Opposes 2012 London Olympics Logo
NEW YORK (TheStreet) — Iran is threatening to boycott the 2012 London Olympics after its National Olympic Committee sent a letter to the International Olympic Committee that claims the Games’ logo is “racist.” A cyclist passes the Olympic logos at the newly completed velodrome, at the Olympic park in London on Tuesday. Iran is criticizing [...]
4 Silver Stocks That Shine on Pullbacks
WINDERMERE, Fla. (Stockpickr) — The price action in the silver market currently is nothing short of extremely bullish behavior. Concerns over the turmoil and social uprising in the Middle East in places such as Egypt and Libya have sent the precious metals markets soaring. Right now the iShares Silver Trust ETF has started to break [...]
Stocks Mixed; On Track to Close February Higher
NEW YORK (TheStreet) — Stocks were trading mixed Monday, but were on course to finish February higher and maintain a winning streak for the year. The Dow Jones Industrial Average was up by 72 points, or 0.6%, at 12203, off its session highs of 12,233. The S&P 500 was higher by 4 points, or 0.3%, [...]
Focus on China Exports
Editor’s note: This piece originally ran earlier today on our newest Premium service, ETF Profits. Click here for a 14-day trial to this exciting product! Forget the Year of the Rabbit. 2011 was supposed to be the year of the Chinese consumer. Unfortunately, it’s starting to look like the year of the premature call. Chinese [...]
UK Households Showing Signs of Stress
This month’s mortgage approvals look set to post a slight improvement. The RICS housing survey showed that the decline in new buyer enquiries had ended and sales edged higher in February on a national basis, with London a clear outperformer. The latest BBA figures recorded a modest pick up in
Risk Appetite Stays Resilient
Despite the global tumult from Japan, Libya, Portugal and elsewhere, investors seem to be embracing risk on the basis that the global recovery is on-going, as we suggested in last week’s update. The S&P 500 stock index in the US has regained about ¾ of the decline since Feb. while
The Weekly Bottom Line
Risk appetite was on the mend this week with stock markets recouping all of last week’s losses. Even the disappointing U.S. housing data released this week did not push markets down.
Weekly Economic and Financial Commentary
The home sales data for February were worse than expected. Existing home sales declined 9.6 percent from January to an annualized 4.88 million unit pace. The new home sales data were even worse, falling 16.9 percent to a 250,000 pace in February, an all-time record low. Home prices are falling
Plosser Urges Fed Must Tighten Policy in "Not Too Distance Future"
The Philadelphia Fed President Charles Plosser went a bit off the reservation today, talking up the prospects that the Fed will need to reverse is extra loose monetary policy in the "not too distant future." He sees a concern that to keep the current loose monetary policy would sow the
Euro Slumps Following EU Summit Conclusion and Amidst Portugal Worries
The EU Summit has came and went, and all the hoopla about a comprehensive solution to the sovereign debt crisis may have been misguided. We continue on a similar path of status quo.
Chart of the Day – EUR/GBP
Price action on EUR/GBP (a 4-hour chart of which is shown) as of Friday (3/25/2011) has consolidated just under 0.8800 after breaking out above 0.8760 resistance on Thursday. This occurs within the context of a very well-formed uptrend that has been in place since the mid-February lows. Since those lows,
Afternoon Forex Overview
The euro remained resilient in Asian trading Friday due to hopes of a continued rate hike by the European Central Bank, recouping earlier losses against the dollar brought by Standard and Poors’s downgrade of credit rating for Portugal to BBB from A-.
Business as Usual
After the initial sharp reaction to the disaster in Japan, the markets calmed down again somewhat this week. Despite increasing reports of radiation leaks at the stricken Fukushima nuclear plant, and no sign of a swift end to international military action in Libya either, equity prices rebounded US equity
Weekly Focus: Debt and Nuclear Crises Plus Indicators in Dramatic Week
The ISM and non-farm payrolls will dominate the US calendar. Both indicators should remain strong, though slightly weaker than last month. The political wheeling and dealing in connection with the European debt crisis could take a new turn, with a referendum likely to be called in Portugal, two regional elections due
$/Yen, Good Risk/Reward Buy Area
Longer term view in $/yen remains unchanged, as the market is seen likely in the process of forming a major low (for at least 12-18 months and likely longer). Note that the market is within the final leg of a large falling wedge pattern that has been forming for over
Chart of the Day – GBP/USD
Price action on GBP/USD (a daily chart of which is shown) as of Monday (2/28/2011) has continued its rangebound consolidation, roughly trading between key support around 1.6000 and key resistance around 1.6300, that has been in place since the beginning of the month. Having made a significant bullish push today,
The Fundamental Perspective Behind the US Dollar this Week
The past week showed some mixed results for the US economy. We had positive reports in the labor market as jobless claims fell below 400K again and the UMich Consumer Confidence report at 77.5 for the final reading for February was the best in 3 years. At the same time
Mixed Bag for Bond Opening
Bond markets are mixed around the world as investors attempt to get a better handle on the impact of spreading Middle Eastern unrest on the price of oil. Fears of a resultant slump in global growth have been calmed, but given the lack of clarity on quite how long prices
Afternoon Forex Overview
The euro traded up to a fresh three-week high against the dollar Monday based on comparably attractive yields despite continuing tumult in the Middle East. Euro-zone debt stresses remain unresolved, but the common currency has nonetheless plowed ahead of late on expectations that inflation will likely trigger rate hikes in the