Asian shares shudder under Wall Street Shadow

Asian shares got off to a rocky start on Friday after a sharp drop on Wall Street, which curbed enthusiasm for the dollar even after the U.S. unit touched multi-year highs in the previous session.

U.S. stocks ended sharply lower, as Apple Inc broke under key technical levels after the tech giant withdrew an update to its new operating system. That pushed the S&P 500 to its biggest one-day decline since July.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent in early trade, poised for a weekly loss over 2 percent.

Japan's Nikkei stock average skidded 1.6 percent, on track to shed more than 1 percent for the week, as a stronger yen exacerbated the risk-averse mood.

Data released before the market opened showed Japan's annual core consumer inflation eased in August, in another sign that the Bank of Japan could be forced into additional easing steps to meet its 2 percent price goal sometime next fiscal year.

The dollar index, which tracks the greenback against a basket of major currencies, edged down about 0.1 percent to 85.115, after it rose to a four-year high of 85.485 on Thursday. The dollar is on track for its 11th successive weekly rise, something it has not achieved in four decades.

"The dollar index strengthened to a new post-2010 high, although it gave back some of its gains amid a tech-driven sell-off in U.S. equities," strategists at Barclays wrote in a note to clients.

The yield difference between 10-year U.S. Treasuries and German Bunds widened the most in nearly 15 years on Thursday, putting pressure on the euro.

The European unit edged up about 0.1 percent to $1.2759, after falling as low as $1.26955 on trading platform EBS on Thursday, its lowest since November 2012.

The dollar was about 0.2 percent lower on the day against its Japanese counterpart at 108.56 yen, pulling away from last week's six-year peak of 109.46.

Oil edged higher after the strong dollar weighed on it overnight, with Brent slightly higher at $97.01 a barrel.

Spot gold was steady on the day at $1,223.90 an ounce, after rebounding off Thursday's session low of $1,206.85 an ounce, its weakest since Jan. 2.

Source: yahoo.com

Dollar Resumes Advance

Asia cheered by Wall Street rebound, dollar resumes advance

Asian stocks rose early on Thursday, cheered by a sizeable overnight rebound on Wall Street, while the dollar resumed its advance after upbeat economic data undercut safe-haven bids and pushed yields higher.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.1 percent, pulling away from a four-month low touched the previous day when U.S.-led air strikes in Syria stoked geopolitical concerns.

Tokyo's Nikkei rose 1 percent, heartened as the yen resumed its weakening against the dollar.
Wall Street rebounded broadly overnight, buoyed by strong U.S. housing data and with dovish statements from a top Federal Reserve official also helping.

"Risk aversion was increasing across global equities this week, but once again it was the U.S. market that helped clear uncertainty," said Junichi Ishikawa, a market strategist at IG Securities in Tokyo.
The dollar, rejuvenated after benchmark U.S. Treasury yields rose for the first time in four days and as the euro slumped to fresh lows, edged closer to a six-year high versus the yen.

The dollar traded as high as 109.27 yen. A break above 109.46 would take the greenback to a high not seen since 2008.

The euro hovered close to a 14-month trough of 1.2774 struck overnight on poor German data and statements by European Central Bank President Mario Draghi monetary policy would be kept loose for an extended period.

The Australian dollar managed to bounce back towards 89 U.S. cents from a seven-month low of $0.8831 plumbed on Tuesday as risk appetite improved.

Reserve Bank of Australia Governor Glenn Stevens will give a brief speech at 0230 GMT that could potentially offer trading insights, but he is not scheduled to take questions.

For broader cues the financial markets are eyeing U.S. jobless claims and durable goods numbers due later in the day for potential impact on yields and currencies.

In a week filled with appearances by U.S. central bank officials, investors today await Atlanta Fed president Dennis Lochart's speech.

In commodities, Brent crude oil extended gains on escalating conflict in the Middle East and stronger-than-expected growth expectations for China helped lift the benchmark off a two-year low the previous day. Brent rose 4 cents to 96.99 a barrel.

Source: yahoo.com

Rumors on Wall Street

Yahoo Said to be Seeking Yelp Takeover

The Rumor:
Shares of Yelp, Inc. (NYSE: YELP) Spiked higher Wednesday, on renewed takeover chatter, with Yahoo (NASDAQ: YHOO) the rumored acquirer. Yahoo has been seen as a potential acquirer of Yelp, going back to a March 2013 note from Wunderilch's Blake Harper.

Spokespersons for Yelp and Yahoo were not available for comment.

Yelp shares closed Wednesday at $72.97, a gain of $1.24.

Starz Seeking Sale, Met with Fox

The Rumor:
Executives from Starz (NASDAQ: STRZA) and 31st Century Fox (NASDAQ: FOXA) met on Tuesday to discuss the potential acquisition of the premium cable movie service by Fox, according to the LA Times. Fox walked away from an attempt to acquire Time Warner (NYSE: TWX) in August, after the parent of HBO rejected an $85.00 per share offer.

According to a source, Fox does not have an interest in acquiring Starz.

Starz Industries shares closed Wednesday at $269.37, a gain of more than 5%.

Acorda Therapeutics to Acquire Civitas Therapeutics for $525M in Cash

The Deal:
Acorda Therapeutics, Inc. (Nasdaq: ACOR) announced Wednesday, that it will acquire privately-held Civitas Therapeutics for $525 million in cash. Acorda will obtain worldwide rights to CVT-301, a Phase 3 treatment candidate for OFF episodes of Parkinson's disease, and also includes rights to Civitas' proprietary ARCUSTM pulmonary delivery technology and manufacturing facility with commercial-scale capabilities in Chelsea, MA.

The deal is expected to close in Q2 of 2014.

Acorda Therapeutics shares closed Wednesday at $240.85, a gain of more than 2%.

Report of Potential Alibaba Interest in Expedia's China Holding

The Rumor:
Shares of Expedia (NASDAQ: EXPE) rose as high as $86.20 on Wednesday, on a report out of China, that Alibaba's (NYSE: BABA) Taobao Travel may have an interest in acquiring a stake in Chinese travel site eLong (NASDAQ: LONG), of which Expedia owns 65%. Spokespersons for Expedia and Alibaba did not respond to requests for comment.

Expedia closed Wednesday at $85.94, a gain of more than 2%. eLong shares rose 4.5% to close at $19.26.

Report Actavis in Early Talks with Salix

The Rumor:
CNBC's David Faber reported Wedneday, that Actavis plc (NYSE: ACT) was in early stage talks to acquire Salix Pharmaceuticals (NASDAQ: SLXP), according to sources. This follows a report on Tuesday that Allergan (NYSE: AGN) was also in talks with Salix, as part of an attempt to fight off a hostile takeover by Bill Ackman and Valeant Pharmaceuticals International, Inc. (NYSE: VRX).

Actavis closed Wednesday at $248.00, a gain of almost 3%. Salix Pharmaceuticals lost almost 1% to close at $167.52.

Report of GE Takeover Interest in SunEdison

The Rumor:
Shares of SunEdison (NYSE: SUNE) rose Wednesday, on a report that General Electric Company (NYSE: GE) was in talks to acquire the manufacturer of silicon wafers. SunEdison shares rose as high as $21.39 on the rumor.

Bloomberg later reported that a GE spokesperson denied the report was not true.

SunEdison closed Wednesday at $20.28, a gain of 5%.

PE Firms Said to have Interest in Tibco Acquisition

The Rumor:
Shares of Tibco Software Inc. (NASDAQ: TIBX) spiked higher Wednesday, on a report from Reuters that private equity firms Vista Equity Partners and Thoma Bravo are among companies seeking to acquire Tibco. The dollar amount of the prospective offers, if any, is not known.

Tibco announced on September 3, it had hired Goldman Sachs to assist it in exploring strategic alternatives. A note from Mizuho Securities on September 16, said the acquisition potential for Tibco was likely overstated.

Tibco Software closed Wednesday at $20.26, a gain of 6.5%.

Source: benzinga.com

Oil futures mixed ahead of EIA data

Crude-oil futures were mixed in Asian trade Wednesday with Brent crude still pressured by yesterday’s weak economic data from Europe, while U.S. oil markets await weekly stockpile reports.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November CLX4, +0.09%  traded at $91.67 a barrel at last check, up $0.11 in the Globex electronic session.

November Brent crude on London’s ICE Futures exchange LCOX4, -0.04%  fell $0.10 to $96.75 a barrel.

Relatively stronger economic data from the U.S. explains why the U.S. dollar BUXX, -0.17%  has been climbing in recent weeks, contributing to a risk-off trade flow across a broad range of commodities, analyst Tim Evans at Citi Futures said.

He said with the oil market already oversold, crude prices are unlikely to break down in a dramatic fashion, but the Brent crude contract for November delivery could continue to grind lower in line with its declining price trend.

Late Tuesday, the American Petroleum Institute — a trade group — said its data showed a 6.5-million-barrel drop in U.S. crude stocks in the week ended Sept. 19, while stocks of gasoline rose by 91,000 barrels and distillates rose by 3 million barrels.

The closely watched survey from the U.S. Energy Information Administration is due later Wednesday. Analysts expect U.S. oil inventories to have risen by 500,000 barrels.

Nymex reformulated gasoline blendstock for October RBV4, -0.33%  — the benchmark gasoline contract — fell 87 points to $2.6200 a gallon, while October diesel traded at $2.6750, 82 points lower.

Source: marketwatch.com

Gold Reserve Wins $740 Million

A World Bank arbitration court ruled that Venezuela must pay $740 million to Spokane, Washington-based Gold Reserve Inc. (GDRZF) for the 2008 expropriation of its Brisas gold project.

Payment of the award is due immediately and the company has commenced steps to ensure recognition and collection, Gold Reserve said yesterday in a statement.

“We feel vindicated by the tribunal’s clear conclusion that the Venezuelan government acted unlawfully,” Gold Reserve president Doug Belanger said in the statement. “There are well documented procedures in place for identifying and attaching sovereign commercial assets.”

Venezuela’s Former President Hugo Chavez nationalized assets in the country’s energy and mining industries to increase state control over the economy before he died from cancer in 2013. The nation is now involved in 28 unresolved cases filed at the World Bank’s International Centre for Settlement of Investment Disputes, or ICSID, by oil, mining and other industrial companies that operated in the country including Exxon Mobil Corp. (XOM) and ConocoPhillips.

The Gold Reserve judgment comes as Venezuela faces concern that a shortage of foreign currency could push it closer to defaulting on its international debt. Gold Reserve said on July 23 that it was seeking $2.1 billion for the nationalization of the gold and copper project.

Default Concerns

The South American country must honor ICSID rulings to avoid default of sovereign bonds, Joe Kogan, an analyst at the Bank of Nova Scotia, wrote in an Aug. 8 note to clients.

Venezuelan dollar debt suffered a selloff this month as Standard & Poor’s cut the country’s rating to CCC+ and predicted at least a 50 percent chance of non-payment in two years. Government notes now yield 15.7 percent on average, the most in developing nations.

The proposed sale of Citgo Petroleum Corp., a U.S. subsidiary of state oil company Petroleos de Venezuela SA, would be negative for both bondholders and international arbitration claimants, as it would reduce the government’s external vulnerabilities, Eurasia Group analyst Risa Grais-Targow said in a note on Sept. 10.

Venezuela’s Information Ministry did not immediately respond to an e-mail sent after business hours yesterday seeking comment on the Gold Reserve judgment.

Source: bloomberg.com

Dollar Gauge Set for Highest Close

Yen Drops

The dollar was set for the highest closing level in four years versus major peers after Federal Reserve officials raised their target-rate forecast. The yen slid to a six-year low before the Bank of Japan governor speaks.

The greenback returned to levels unseen since the collapse of Lehman Brothers Holdings Inc. after Fed policy makers increased their median estimate for the key rate to 1.375 percent at the end of 2015 versus June's forecast for 1.125 percent. The pound remained higher as Scotland votes today on independence. The euro touched its weakest since July 2013 with the European Central Bank preparing to allot the first funds under its so-called targeted longer-term refinancing operations.

The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major currencies, rose 0.2 percent to 1,055.71 as of 1:33 p.m. in Tokyo, poised for the highest closing level since June 2010.

The U.S. currency climbed to 108.75 yen, the strongest since Sept. 8, 2008, before trading 0.3 percent higher at 108.67. It was little changed at $1.2864 per euro and touched $1.2835, the most since July 2013.

Considerable Time

The Federal Open Market Committee retained a commitment to keep interest rates near zero for a “considerable time” after winding down a bond-purchase program under the quantitative-easing stimulus strategy. It said in a statement a “significant underutilization of labor resources” remains.

Policy makers tapered monthly bond buying to $15 billion in their seventh consecutive $10 billion cut, staying on course to end the program in October.

Yellen, at a press conference after the two-day meeting, said the language of the low-rate pledge isn’t a form of calendar-based guidance. The odds the central bank will increase its benchmark interest-rate target to at least 0.5 percent by July 2015 were 78 percent, up from 73 percent at the end of last month, federal fund futures showed.

An interest-rate increase would be the first since 2006. The rate has been in a range of zero to 0.25 percent since December 2008.

Kuroda Speaks

BOJ Governor Haruhiko Kuroda is scheduled to speak today at the National Securities Industry Convention in Tokyo. A stronger dollar isn’t negative for Japan’s economy and the central bank will continue unprecedented monetary stimulus as long as necessary to achieve its target of 2 percent inflation “in a stable manner,” Kuroda said Sept. 16 in Osaka.

The pound held a gain since Sept. 15 before voters in Scotland decide today on the future of a political union that dates back to 1707. Voting ends at 10 p.m. local time. A final batch of opinion polls before the referendum showed the “no” campaign remained in the lead by a slim margin.

“Uncertainty around the final result is mounting,” Shinichiro Kadota, a foreign-exchange strategist at Barclays Plc in Tokyo, wrote in an e-mailed note to clients today. “GBP will likely rebound further in case of a ‘No’ vote, though it has already seen some rebound in the past few days, while a ‘Yes’ vote would likely exert further downward pressure.”

ECB Loans

Sterling was little changed at $1.6265 after climbing 0.3 percent since Sept. 15 through yesterday to $1.6276.

The ECB will announce today the allotment of its first targeted lending program as part of its effort to stave off deflation in the euro area. Banks will receive 150 billion euros ($193 billion), according to the median estimate of analysts surveyed by Bloomberg News.

New Zealand’s currency added 0.2 percent to 81.09 U.S. cents. The nation’s economy grew at the fastest pace in 10 years in the second quarter, outperforming most major developed markets. Gross domestic product increased 3.9 percent in the second quarter from a year earlier, Statistics New Zealand said today. That beat the 3.8 percent median forecast in a Bloomberg survey of 10 economists.

Source: bloomberg.com

Oil prices down on US stockpiles surge, OPEC reports

Oil prices fell in Asia thursday following an unexpected surge in US stockpiles and reports that the OPEC oil cartel is unlikely to slash production when it meets in November.

US benchmark West Texas Intermediate for October delivery dipped 55 cents to $93.87 while Brent crude for November eased 51 cents $98.46 in mid-morning trade.

Prices were under pressure "after the US Department of Energy reported an unexpected increase of US crude inventories by 3.7 million barrels instead of the market forecast for a 1.2 million decline," said Singapore's United Overseas Bank (UOB) in a market commentary.

Gasoline stocks dropped 1.6 million barrels in the week to September 12, the data showed.

UOB said oil prices also took a hit after "conflicting reports" about the plans of the Organisation of the Petroleum Exporting Countries (OPEC) to cut its output in November due to a global supply glut and weak demand.

OPEC Secretary-General Abdullah El-Badri said Tuesday the cartel would cut output in November, which helped lift prices from a two-year low. But a Dow Jones Newswires report Wednesday, citing unnamed OPEC delegates, said the organisation was unlikely to cut in November.

A stronger dollar added downward pressure to oil, which is traded in dollars and becomes more costly for buyers using weaker currencies. The greenback rose after the Federal Reserve stuck to its timetable on hiking interest rates but indicated they could eventually rise more sharply than initially envisaged.

Sanjeev Gupta, head of the Asia-Pacific oil and gas practice at consultancy EY, said investors will next be scrutinising manufacturing data out of China and Germany on Tuesday for clues about global demand.

If the economic data from these two countries are lower than forecast, oil prices "may head lower in the near term", said Gupta.

Source: yahoo.com

Hong Kong stocks fail to hold onto previous gains

Hong Kong stocks pulled back on Thursday after a rebound a day earlier, as new reports said the previously tipped $81 billion stimulus from China's central bank is still pending approval as banks prepare the relevant materials.

The Hang Seng Index HSI, -0.72% fell 1%, giving up all the gains made in Wednesday trade when the index recovered from an eight-day losing streak. Mainland Chinese banks lost ground, as both Bank of China Ltd. 3988, -0.27% BACHY, -0.66% 601988, +0.37% and China Construction Bank Corp. 0939, -1.20% CICHF, -3.66% 601939, +0.24% declined 1.6% each, Industrial & Commercial Bank of China Ltd. 1398, -0.58% IDCBF, +0.13% 601398, +0.28% dropped 1.2%, Agricultural Bank of China Ltd. 1288, -0.56% ACGBF, +0.00% 601288, +0.40% fell 0.8%, and Bank of Communications Co. 3328, +0.00% BKFCF, +12.50% 601328, +3.48% moved 0.5% lower.

Oil stocks felt the pressure from falling international crude prices, with top Chinese oil producer PetroChina Co. 0857, -1.49% 601857, -0.12% PTR, +1.42% down 2.2%, offshore oil producer Cnooc Ltd. 0883, -1.24% CEO, -0.21% losing 1.9%, and refiner China Petroleum & Chemical Corp., or Sinopec, 0386, -1.39% SNP, -1.00% lower by 1.3%. Over on the Chinese mainland, the Shanghai Composite Index SHCOMP, +0.40% inched down 0.1%.

Source: marketwatch.com

Binary Trading During the Holiday Season

During the holiday season, as a result of many people going on vacation, online stock trading on all financial markets is thinner with much lower trading volumes. This generally results in far smaller price fluctuations in stocks and commodities. Forex markets tend to behave differently with different influential countries celebrating some of the holidays at different times. Metals markets are closed on certain US holidays and it is advisable to check the days on which they con't operate if you are actively trading in that market.

There will be tighter limits in the markets. The results of thinner trade have historically been observed to have much tighter upper and lower limits in respect of equity and commodity markets. Adopting a limit bound strategy during holiday periods is recommended because with thinner trading, it is easier to pick up market trends. With a small upward trend, the way to go is to buy Call options with short to medium time lines while in a depressed market with resistance to higher prices, buying Put options would probably be more profitable.

Stock trends before holidays. Numerous studies by academic researchers have found that stock prices increase abnormally before holidays, such as the 4th of July, and return to previous levels when trade resumes after the holiday. This trend can be useful for binary options traders, trading both Call and Put trades in line with the historically observed trends. The identical trend has been found in the United Kingdom and Japanese equity markets despite their holidays being at different times to the US.

Forex markets and holidays. Forex markets are more easily affected by political events and economic indicators than equity or commodity markets. During holiday periods, most politicians enjoy vacations along with the rest of us, with very little political activity taking place while economic data reporting is also not done during holiday periods. With neither of these factors having to be taken into account, Forex markets generally are very flat during holiday periods and should be considered risky for binary options traders.

Caution needs to be exercised when trading before and during holiday seasons, but there is no doubt that a change in markets conditions will present opportunities for the binary options trader who has studies the markets and taken correct note of historical trends.

Source: invezz.com

Pound Gains 2nd Day Versus Euro Before BOE Minutes

The pound strengthened for a second day versus the euro before the Bank of England release minutes of this month’s Monetary Policy Committee meeting.

Sterling was little changed against the dollar as Scotland prepares to vote tomorrow on whether to leave the U.K. Minutes from the August MPC meeting showed members Martin Weale and Ian McCafferty voted to increase borrowing costs, marking the first split on interest rates in more than three years and also the first under Governor Mark Carney. The BOE left its official Bank Rate (UKBRBASE) at a record-low 0.5 percent this month, a level unchanged since March 2009.

The pound gained 0.1 percent to 79.53 pence per euro as of 7:03 a.m. London time. It appreciated 0.1 percent against the common currency yesterday. Sterling was at $1.6278, after advancing 0.3 percent to $1.6277 yesterday.

The U.K. jobless rate, as measured by International Labour Organization methods, fell to 6.3 percent in the three months through July, according to the median estimate of economists in a Bloomberg News survey before the Office for National Statistics releases the data at 9:30 a.m. in London. That compares with a reading of 6.4 percent in the period ended June, which was the lowest since the fourth quarter of 2008.

Sterling strengthened 0.4 percent in the past month, according to Bloomberg Correlation-Weighted Indexes. The euro dropped 0.7 percent, while the dollar gained 3.2 percent.

U.K. government bonds returned 6.5 percent this year through yesterday, Bloomberg World Bond Indexes show. German securities also gained 6.5 percent and U.S. Treasuries earned 3.3 percent.

Source: bloomberg.com

Miners lift FTSE 100; eyes on Scotland, central banks

The U.K.’s FTSE 100 index moved slightly higher on Wednesday, supported by gains for mining companies, as investors focused on central banks and tried to stay calm ahead of a nearing referendum on Scottish independence.

London’s benchmark index UKX, +0.10%  rose 0.3% to 6,810.05, but still lagged gains for bourses across Europe. The index has been down for two straight sessions, amid investor caution over the potential for a “yes” outcome to the vote to leave the U.K. in Scotland, where polls open Thursday.

The pound GBPUSD, +0.32% which has been suffering from uncertainty surrounding the vote, showed some strength, trading at $1.6310 versus $1.6282 late Tuesday.

On the U.K. economic calendar, unemployment data and the minutes of the latest Bank of England Monetary Policy Committee meeting are due early. Investors will be looking to see if any more members voted to hike rates, as the August meeting showed the first dissent among members in several years. Both the joblessness data and BOE minutes are due at 9:30 a.m. London time.

The two-day Federal Open Market Committee meeting could keep investors at bay. The focus will fall on the Federal Reserve policy statement and any change in language that could hint of a sooner-than-expected hike in interest rates. Read: The only two words that will matter at the Fed

Stocks: Smiths Group PLC SMIN, -4.89%  topped the losers list with a nearly 5% drop after the medical-device and airport-scanner maker posted a fall in full-year revenue and profit, dragged by a weak performance at its detection business.

Miners were on the rise, with heavyweights such as Rio Tinto PLC RIO, +0.39% RIO, +2.05%  up 0.7% and BHP Billiton PLC BLT, +0.60% BHP, +1.33%   adding 0.6%. Anglo American PLC AAL, +0.63%  rose more than 1%.

Lloyds Banking Group PLC LLOY, +0.80% LYG, +0.21%  was a heavyweight gainer, up nearly 1%, and chip designer ARM Holdings PLC ARM, +1.85% ARMH, +0.11%  added 1.8%.

Source: marketwatch.com

Euro Steady as Tension in Ukraine Worsens

The euro remained below $1.30 on Tuesday despite encouraging trade data out on Monday. The common currency traded at $1.2961 at 10:00 GMT with the Fed’s upcoming meeting and the crisis in Ukraine continuing to weigh.

Reuters reported that the bloc’s trade surplus increased annually in July due to growing exports. The region’s trade surplus rose to 21.2 billion euros, with exports rising 3 percent and imports increasing by just 1 percent. The figure far surpassed last year’s July trade balance of just 18 billion euros, suggesting that the eurozone economy may have received a bit of a boost in the third quarter.

The surplus was largely attributed to an increase in exports to the Unites States, China and Britain, while the bloc’s deficit with Russia grew to 31.7 billion euros  from January to June. With sanctions limiting the European nations’ transactions with Russia, exports to the nation waned.

Hopes of ending the conflict in Ukraine and lifting sanctions against Russia were dashed on Monday after the ceasefire agreement in Ukraine was violated. The renewed fighting claimed six civilian lives and left a further 15 wounded, marking one of the largest losses of civilian lives since the conflict began.

German Chancellor Angela Merkel has been trying to persuade her Russian counterpart Vladimir Putin to withdraw his troops from Ukraine and continue working toward a peaceful political solution. However, Ukraine’s recent agreement to push through a trade agreement with the eurozone has heightened tension between the West and Russia, and prompted the Kremlin to threaten to restrict trade with Ukraine in retaliation.

Source: benzinga.com

Sony warns of $2.14 bln annual loss over four times forecast

Sony on Wednesday raised its forecast annual loss more than fourfold to $2.14 billion, blaming its struggling mobile phone business.

The Japanese electronics giant said it now expects to lose 230 billion yen in the fiscal year to March 2015, up from a previous forecast net loss of 50 billion yen and reflecting a drop in the value of its mobile unit.

Sony has cut expectations for sales in the smartphone business, which has been reporting operating losses, as it faces off against rivals including Apple and South Korea's Samsung.

"The new MRP (Mid-Range Plan) was modified to address the significant change in the market and competitive environment of the mobile business," Sony said in a statement.

"Under the new MRP, the overarching strategy for the (mobile) segment has been revised to reduce risk and volatility, and to deliver more stable profits.

"This revision includes changing the strategy of the (mobile) segment in certain geographical areas, concentrating on its premium lineup, and reducing the number of models in its mid-range line up."

Source: yahoo.com

Asian Stocks Extend Slide as Aussie Bonds Rise

Asian stocks fell, with the regional index headed toward its longest slump since 2002. Australian bonds followed a rebound in Treasuries before the Federal Reserve reviews interest rates, while oil declined.

The MSCI Asia Pacific Index lost 0.1 percent by 9:37 a.m. in Tokyo, on track for a ninth day of declines, the most since a 10-day drop in June 2002. Japan’s Topix (TPX) index fell 0.2 percent as markets resumed following a holiday. Nasdaq 100 Index futures were little changed after the U.S. gauge of technology stocks sank 1 percent in New York. Ten-year Australian notes rose for the first time in six days after Treasuries snapped their longest drop in more than a year. U.S. oil fell 0.3 percent.

Fed officials meet to review policy from today, with an unexpected decline in American factory output damping speculation the timeline for interest-rate increases could be brought forward. China’s Alibaba Group Holding Ltd. (BABA) boosted the size of its U.S. initial share sale amid strong demand, putting it on track to break global fundraising records. Morning trading in Hong Kong is delayed because of a typhoon, while Australia’s central bank releases minutes of its last meeting today.

"The big issue is whether the Fed will change its forward guidance to indicate they are getting closer to the decision on putting interest rates up," Stephen Halmarick, head of investment markets research at Colonial First State Global Asset Management, which oversees about A$170 billion ($154 billion), said by phone from Sydney. "The transition period as the Fed tightens will be difficult for markets in the Asian region. I think we are in for a few months of increased volatility in markets."

Considerable Time

The Fed is gauging the strength of the U.S. economy as it winds down a bond-buying program that's on track to end this year. The bank has been saying since March that interest rates would stay low for a "considerable time" after it completes the asset purchases known as quantitative easing. Speculation the Fed may bring forward rate increases has boosted the allure of the dollar this month and depressed Treasuries.

Japan's Nikkei 225 Stock Average declined 0.2 percent, snapping a five day advance, while the NZX 50 Index in Wellington dropped 0.3 percent. The Kospi gauge in Seoul added 0.1 percent as Australia's S&P/ASX 200 Index fell 0.2 percent.

The morning session on the Hong Kong Stock Exchange will be delayed due to Typhoon Kalmaegi, according to a statement on the exchange group's website. The city's third-highest storm signal was issued for the first time this year early today. Markets in Malaysia are closed for a holiday today.

Source: bloomberg.com

Guide for the Binary Options Traders as the Eurozone tumbles!

How Binary Options Traders Can Capitalize On This Data 

With everything going on right now, we can bet on a couple of different things. First off, investors and economists are just about sure that the Eurozone is going to have to put more stimuli in place soon. As a result, we can expect that the value of the Euro is going to continue to fall. Another thing that’s pretty much a surefire bet is based on the data correlation strategy. We know that when big economies get hit hard, one of the first places investors look is into the US markets. With that said, we can expect to see gains continue in the US Market; at least for the short term. Using this data, binary options traders have the ability to really improve on profits!

Horrible news for the Eurozone sends US stocks on a bullish trend. The S&P 500 broke through the 2,000 landmark while investors hope to see the European Central Bank increase their stimulus efforts. Today, we’ll talk about how bad data in Germany, bad politics in France, and an overall bad economic outlook for the Eurozone sent the US stock market on a bullish path. We’ll also look at what binary options traders can do to profit from the news.

Bad Business Sentiment Data in Germany 

One of the biggest pieces of news that has hit the market this week came out on Monday when the Munich-based IFO think tank reported its newest business climate index data. Last month, they reported that the index was at 108 points and expected to fall to 107 points this month. Unfortunately for the Eurozone, the fall that took place was much larger than expected. The new business climate index score, based on a survey of more than 7,000 companies, hit a low it hasn’t seen in more than a year of 106.3 points. Much of the fall is said to be attributed to tougher sanctions being placed against Russia as a result of the Russia/Ukraine conflict, as well as the reaction Russia had to those sanctions.

Public Political Feuds in France 

Another factor that seems to be plaguing growth in the Eurozone is the public political feud we’ve seen in France. Tensions heated up as French lawmakers worked to come up with a way to stimulate the French economy. As a result of the feud, French Economic Minister Arnaud Montebourg announced that he and two of his colleagues would be leaving their posts. This leaves Francois Hollande with quite a struggle moving forward as he attempts to reduce the unemployment rate in the country of more than 10%; and gain the trust of more than 80% of French voters who don’t think he’s got what it takes to make a difference.

U.S. Markets Skyrocket 

As a result of the poor news in the Eurozone, U.S. markets skyrocketed. On Monday, the S&P 500 broke the 2,000 mark for the first time in history during day trading. Unfortunately, it closed just shy of that mark at 1,997.92. In the meantime, the Dow Jones Industrial Average went up 75 points, while NASDAQ increased by 18 points; making for a great day in the US stock market.

Source: investing.com

Forex Market Daily Trading Outlook

UR/NOK traded within the range of 8.1567 – 8.1340 and closed at 0.12% lower at 8.1385, its sixth straight losing session.

At 6:52 GMT today EUR/NOK was up 0.02% for the day to trade at 8.1387. The pair held in a daily range between 8.1331, the lowest in more than two months, and 8.1438.

Germany

Destatis reported today that Germany’s Import Price Index fell by 0.4% in July on a monthly basis, compared to expectations for a 0.1% decline following June’s 0.2% jump. Year-on-year, import prices lost 1.7%, compared to a 1.2% decline the previous month. Analysts had projected a 1.4% drop.

The Import Price Index measures the changes in prices of imported goods in Germany. It is used to distinguish changes in trade volume versus changes in trade prices. While the former suggests rising consumer demand and economic activity, the latter implies higher production costs and inflation. Generally speaking, a better-than-projected reading should be seen as bullish for the euro, and vice versa.

France

France’s National Institute of Statistics and Economic Studies (INSEE) reported that business conditions in the second-biggest EU economy were the worst in more than a year. The Business Climate index matched expectations and slid to 96 this month, the lowest since July 2013, down from 97 during the preceding month.

The index reflects the performance of the French economy in the short-term perspective. It is compiled from a survey of around 4 000 business leaders from varying sectors.

A higher value is seen as bullish for the euro and vice versa.

Italy

Italy’s consumer confidence is also expected to have fallen in August. The Italian National Institute of Statistics will likely report at 8:00 GMT that its index fell to 104.0 from 104.6 in July.

Like with any other country, Italy’s consumer confidence is also a leading indicator as it gives a preliminary insight into consumer spending, which makes up most of GDP. Thus, higher readings are generally seen as bullish for the euro, and vice versa.

Norway

The rate of unemployment in Norway probably remained flat at 3.2% in the three months to July, according to the median forecast by experts.

It represents the percentage of the eligible work force that is unemployed, but is actively seeking employment. Unemployed persons are persons who were not employed in the survey week, but who had been seeking work during the preceding four weeks, and were available for work within the next two weeks. Persons in the labor force are either employed or unemployed. The remaining group of persons is labeled not in the labor force. Unemployed persons and persons not in the labor force constitute the group of non-employed persons. In case the unemployment rate met expectations or even increased further, this would have a bearish effect on the krone. Statistics Norway will release the official employment data at 8:00 GMT.

If EUR/NOK manages to breach the first key support at 8.1294, it will probably continue to slide and test 8.1204. With this second key support broken, movement to the downside will probably continue to 8.1067.

Source: binarytribune.com

Introducing 100% Payouts on Winning Trades

The introduction of 100% payouts is one among many new features added to the MarketsWorld binary options trading platform. MarketsWorld has also introduced access to historical expiry prices on each tradable asset. This enhances the trade experience and provides pricing data instantly for customers ensuring transparency.

Fresh off the heels of its much lauded introduction of 60 second binary options, today MatketsWorld launched a new payout structure whereby winning trades can payout up to 100% profit for the correct prediction of short term movements in the world's forex and financial markets.

The fanfare surrounding this latest development launch will be the 100% payouts, however we are also developing more subtle changes such as access to the historical pricing. This will allow customers to search and select pricing through a particular time or date on every tradable asset.

Of course most will be interested in the 100% profit on certain trades. MarketsWorld had already been held out as the payouts leader offering no less than 70% on winning traders and payouts as high as 95%, which is already unheard of in the binary options industry where payouts seem to go no higher than 86%.

The company latest move is that it will offer up to 100% returns on winning trades while still having no trades offered for less than 70% returns guaranteed.

2014 is proving to be a transformational year for the licensed and regulated Binary Options Platform.

Source: digitaljournal.com

Oil prices gain

Oil prices gained Wednesday, with the New York WTI benchmark barely higher as the US weekly stockpiles report showed a fall in inventory.

The main US contract, West Texas Intermediate crude for October delivery, added two cents at $93.88 a barrel.

Brent North Sea crude for October meanwhile rose 22 cents to $102.72 a barrel in London deals.

The main news was a 2.1 million barrel fall in US commercial crude-oil stockpiles, larger than expected.

Stocks at the Cushing, Oklahoma, depot where WTI is delivered rose, however, by 500,000 barrels.

The Energy Department's weekly report showed a 0.4 percent increase in total petroleum inventories, including distillates and gasoline, in relation to average daily demand.

The simmering conflicts in Ukraine and the Middle East seemed not to bother markets.

Desmond Chua, market analyst at CMC Markets in Singapore, said investors have been bouyed by "a string of strong economic data in the US".

Source: yahoo.com

Stocks that you Need to Watch Out For!

Wall Street expects Tiffany & Co (NYSE: TIF) to report its Q2 earnings at $0.85 per share on revenue of $987.88 million. Tiffany shares rose 0.92% to $101.70 in after-hours trading.

Smith & Wesson (NASDAQ: SWHC) reported in-line earnings for the fiscal first quarter, but lowered its full-year guidance. Smith & Wesson shares tumbled 11.22% to $11.63 in the after-hours trading session.

Analysts are expecting Guess? (NYSE: GES) to have earned $0.29 per share on revenue of $617.91 million in the second quarter. Guess? shares declined 0.27% to close at $25.83 yesterday.

Williams-Sonoma (NYSE: WSM) is projected to post its Q2 earnings at $0.53 per share on revenue of $1.05 billion. Williams-Sonoma shares gained 0.87% to $75.50 in after-hours trading.

TiVo (NASDAQ: TIVO) reported better-than-expected second-quarter profit and announced a new $350 million share repurchase plan. TiVo shares slipped 1.80% to $13.65 in the after-hours trading session.

Analysts expect Brown-Forman (NYSE: BF-B) to report its Q1 earnings at $0.72 per share on revenue of $933.86 million. Brown-Forman shares climbed 1.46% to $93.58 in after-hours trading.

Donaldson Company (NYSE: DCI) is expected to report its Q4 earnings at $0.47 per share on revenue of $654.67 million. Donaldson shares dropped 0.04% to $40.67 in the after-hours trading session.

Source: benzinga.com

Rumors Circulating on Wall Street

Ann, Inc. Reportedly Exploring Potential Sale

The Rumor:
Shares of Ann, Inc. (NYSE: ANN), the parent of retailer Ann Taylor, surged higher Tuesday, on a report from Reuters that it had hired JPMorgan Chase to consider strategic alternatives, including a potential sale.

Spokespersons for Ann and JPMorgan declined comment on the report.

Ann, Inc. closed Tuesday at $41.87, a gain of almost 5%.

Jupiter Offers $8.00/Share for Alteva

The Offer:
Shares of Alteva (NYSE: ALTV) spiked higher late Tuesday, following an offer from Jupiter Investment, to acquire the cloud-based communications company for $8.00 per share in cash. Altera reported a 6.2% stake in Alteva as of August 26.

Jupiter made the offer in a letter to Alteva's Board of Directors.

Alteva closed Tuesday at $6.88, a gain of 30%.

Medtronic Acquires Sapiens Steering Brain Stimulation for ~$200M in Cash

The Deal:
Medtronic (NYSE: MDT) announced Tuesday, that it has acquired Sapiens Steering Brain Stimulation for approximately $200 million in cash.

The transaction does not impact Medtronic's FY 2015 earnings guidance.

Medtronic closed Tuesday at $63.52, a loss of $0.11.

Source: benzinga.com