Asia Stocks Fall Led by Hong Kong

Asian stocks dropped, led by losses in Hong Kong amid pro-democracy protests in the city. The dollar extended gains and Standard & Poor’s 500 Index futures retreated as U.S. economic data bolstered the outlook for higher interest rates.

The Hang Seng Index lost 1.9 percent by 1:41 p.m. in Tokyo, erasing its gain for the year and dragging the MSCI Asia Pacific Index toward a 0.7 percent decline. The Hong Kong dollar and Chinese yuan weakened as the Bloomberg Dollar Spot Index added 0.1 percent, climbing a seventh day. New Zealand’s currency is poised for its biggest three-day drop in three years. Oil in New York slipped 0.6 percent. S&P 500 futures fell 0.3 percent. Asian bond risk rose to a one-month high.

Hong Kong’s benchmark index tumbled as much as 2.5 percent after police used tear gas to disperse protesters ahead of national holidays this week that will close the city’s markets on Oct. 1 and Oct. 2. The U.S. economy grew at the fastest pace since 2011 in the second quarter, fueling speculation over Federal Reserve rate increases. Pacific Investment Management Co., whose co-founder Bill Gross departed last week, said it sees slower growth in China and downside risks in Australia.

“It’s going to spook some investors who are worried that this could drag out, affecting the business climate in Hong Kong,” Vasu Menon, vice president of wealth management at Oversea-Chinese Banking Corp., said on Bloomberg TV from Singapore. “It’s happening at a time when the U.S. Federal Reserve is talking about tightening monetary policy, a time when China is slowing down.”

Profit Drop

All 50 stocks on the Hang Seng Index fell today, while a gauge of Chinese shares in the city retreated 1.8 percent in a third day of decline. Profits at industrial companies in China declined last month for the first time in two years, data at the weekend showed, as a slowdown in the world’s second-largest economy deepens.

The Shanghai Composite Index pared a gain of as much as 0.7 percent. The Hang Seng China AH Premium index, which measures the weighted-average price difference between dual-listed shares in the mainland versus Hong Kong, rose through the 100 level that shows the gap being erased. Mainland Chinese trading venues close for five days from Wednesday.

The Hong Kong dollar, which is allowed to trade within a tight band versus the U.S. currency, slipped for a sixth day and is at its weakest level since March. The city’s one-year interest-rate swap rose three basis points, the most in 15 months, to 0.485 percent.

Source: bloomberg.com

Gold Heads for First Weekly Increase this Month as Stocks Drop

Gold headed for the first weekly advance this month as a retreat in global equities and tensions in the Middle East boosted demand for a protection of wealth, countering expectations for higher U.S. borrowing costs.

Bullion for immediate delivery rose 0.4 percent to $1,226.90 an ounce at 9:46 a.m. in Singapore, extending yesterday’s 0.4 percent advance, according to Bloomberg generic pricing. The metal is 0.9 percent higher this week, rebounding from a drop on Sept. 22 to $1,208.40, the lowest since Jan. 2

Gold remains on course for the first quarterly loss this year as the Bloomberg Dollar Spot Index climbed to a four-year high. A report today may show the U.S. economy grew more than previously estimated after data yesterday showed jobless claims rose less than forecast. Saudi Arabia, Jordan, Bahrain, Qatar and the United Arab Emirates joined the first wave of U.S.-led airstrikes against Islamic State militants in Syria this week.

“Gold has been helped by geopolitics and weaker equity markets,” Zhu Runyu, an analyst at CITICS Futures Co., a unit of China’s biggest listed brokerage, wrote in an e-mail today. “The longer-term downtrend remains intact as the U.S. economy and hence the dollar strengthens.”

Asian stocks fell after the Standard & Poor’s 500 Index dropped the most in almost two months. The MSCI All-Country World Index is heading for the biggest monthly loss since January amid concern that Chinese growth is slowing and the Federal Reserve may increase U.S. interest rates sooner than some investors expect.

SPDR Holdings

Gold for December delivery rose 0.5 percent to $1,227.70 an ounce on the Comex in New York, extending yesterday’s 0.2 percent climb. Holdings in the SPDR Gold Trust, the biggest gold-backed exchange-traded product, were unchanged for a second day yesterday after dropping to 773.45 metric tons on Sept. 23, the least since December 2008.

Silver for immediate delivery rose 0.8 percent to $17.6679 an ounce, halting two days of declines and paring a fourth weekly retreat. Prices dropped to $17.3491 on Sept. 22, the lowest level since July 2010.

Spot platinum climbed 0.5 percent to $1,320.69 an ounce, after falling yesterday to $1,300.38, the lowest since June 2013. Palladium increased 0.3 percent to $804.26 an ounce after dropping to $795.33 yesterday, the lowest since April. Both metals are also set for a fourth week of losses.

Source: bloomberg.com

Tokyo Stock Down

Tokyo Stocks open down 1.75%

Tokyo stocks opened 1.75 percent lower on Friday after sell-offs on Wall Street and the dollar's fall against the yen.

The key Nikkei 225 index at the Tokyo Stock Exchange, which closed at a seven-year high on Thursday, lost 286.19 points to 16,087.95 at the start.

US stocks sank Thursday led by Apple's 3.8 percent drop, amid a combination of worries over heady valuations and quarter-end profit taking.

The Dow Jones Industrial Average finished down 1.54 percent while the broad-based S&P 500 lost 1.62 percent.

The tech-rich Nasdaq Composite tumbled 1.94 percent as Apple's embarrassing problems with its new operating system and criticisms that its new iPhones are too easily bent sparked its fall.

The ollar was at 108.56 yen in early Friday trade, down from 108.73 yen in New York Thursday afternoon and above 109 yen in Tokyo earlier Thursday.

A strong yen is a negative for Japanese exporters as it erodes profits when repatriated.

The euro bought $1.2758 and 138.49 yen against $1.2750 and 138.62 yen in US trade.

Currency rates hardly moved after Japanese data showed the nation's consumer inflation rose a slower-than-expected 3.1 percent year-on-year in August.

Source: yahoo.com

Japan Stocks Open higher after strong US lead

Japan stocks advanced Thursday morning after an overnight rally in U.S. markets, with the Nikkei Average NIK, +1.10% up 1%. The broader Topix I0000, +0.00% rose 0.8%, while the yen USDJPY, +0.15% fell to ¥109.26 against the dollar, compared with ¥109.19 a day ago.

Auto makers benefited from the weaker yen, as Mazda Motor Corp. JP:N7261 headed up 1.9%, Toyota Motor Corp. 7203, +1.68% improved by 1%, Honda Motor Co., Ltd. 7267, +0.42% tacked on 0.8%, and Nissan Motor Co., Ltd. 7201, +1.02% zoomed 0.7% higher.

Tech exporters were also well bid, with top winners including industrial-robot manufacturer Fanuc Corp. 6954, +0.85% , gaining 1.6%, electronics giant Panasonic Corporation 6752, +0.96% rising 1.2%, console maker Nintendo Co., Ltd. 7974, +1.54% adding 1%, camera maker Olympus Corp. 7733, +1.13% up 0.9%, and semiconductor firm Renesas Electronics Corporation 6723, +0.86% higher by 0.6%.

Meanwhile, Internet and telecom conglomerate SoftBank Corp. 9984, +1.28% snagged a 1.4% gain.

Source: marketwatch.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

Stocks to Watch Out

Wall Street expects Paychex (NASDAQ: PAYX) to report its Q1 earnings at $0.46 per share on revenue of $662.62 million. Paychex shares gained 0.24% to $42.51 in after-hours trading.

Bed Bath & Beyond (NASDAQ: BBBY) reported stronger-than-expected second-quarter results and issued a forecast slightly ahead of the estimates. Bed Bath & Beyond shares surged 7.75% to $67.55 in the after-hours trading session.

Analysts expect KB Home (NYSE: KBH) to report its Q3 earnings at $0.40 per share on revenue of $646.76 million. KB Home shares gained 1.06% to $17.15 in after-hours trading.

AAR (NYSE: AIR) reported downbeat first-quarter results and lowered its FY14 outlook. AAR shares declined 3.54% to $27.01 in the after-hours trading session.

Analysts are expecting Accenture plc (NYSE: ACN) to have earned $1.10 per share on revenue of $7.62 billion in the fourth quarter. Accenture shares fell 0.06% to $79.55 in after-hours trading.

GrafTech International (NYSE: GTI) lowered its FY14 forecast and announced a new restructuring/cost savings. GrafTech shares tumbled 17.58% to $6.00 in the after-hours trading session.

Jabil Circuit (NYSE: JBL) is estimated to post its Q4 earnings at $0.00 per share on revenue of $3.83 billion. Jabil Circuit shares declined 0.10% to $20.85 in after-hours trading.

Source: benzinga.com

Asian Stocks drift after Wall Street slide

BANGKOK - Asian stock markets drifted Wednesday as the boost from stronger Chinese manufacturing was offset by grim economic news from Europe and airstrikes in Syria.

KEEPING SCORE: Japan's Nikkei 225 stock average was down 0.2 percent at 16,174.69 while Seoul's Kospi rose 0.1 percent to 2,029.94. Hong Kong's Hang shed 0.1 percent to 23,824.50 and Australia's S&P/ASX 200 dropped 0.9 percent to 5,368.30. China's Shanghai Composite was little changed at 2,309.91. Southeast Asia markets mostly rose.

THE QUOTE: "Geopolitical risk, which has been simmering in the background, is back to the fore" after the US and their Arab allies launched a series of air strikes into Islamic State positions at the Syrian-Iraqi border, potentially increasing instability in the region, said CMC analyst Desmond Chua. "Helping to limit losses in the equity markets, however, was the continual outperformance of economic indicators, with US manufacturing activity clocking a four-year high," he said. "Better-than-expected Chinese factory day also alleviated concerns that the second largest economy was facing a slowdown."

CHINA FACTORIES: China's manufacturing unexpectedly improved in September, according to a preliminary survey released Tuesday, though there were some mixed messages in the report. New orders and exports increased at a faster rate but employment fell. Overall, the report helped to ease jitters about a deeper slowdown in the world's No. 2 economy.

EUROPE STAGNATES: A closely watched gauge of business activity for the region fell to a nine-month low. Investors have been dealing with meager economic growth in Europe for months. The eurozone economy has been flat or barely growing since April, hobbled by the lingering effects of a debt crisis, uncertainty over a conflict in Ukraine and a lack of confidence among European consumers, businesses and banks. European market indexes sank after the economic news. Germany's DAX fell 1.6 percent, France's CAC 40 fell 1.9 percent and the U.K.'s FTSE 100 lost 1 percent.

SYRIA: Along with bad economic news, investors had geopolitical concerns to worry about. The U.S. and five Arab nations attacked the Islamic State group's headquarters in eastern Syria in nighttime raids Tuesday. U.S. aircraft as well as Tomahawk cruise missiles launched from Navy ships in the Red Sea and the northern Persian Gulf were used.

WALL STREET: The Dow slid 116.81 points, or 0.7 percent, to 17,055.87. The S&P 500 lost 11.52 points, or 0.6 percent, to 1,982.77 and the Nasdaq composite fell 19 points, or 0.4 percent, to 4,508.69. The Dow's triple-digit fall on Tuesday follows a 107-point stumble from the day before. The blue chip index hasn't posted two losses of 100 or more points since June. Still, the outlook in the U.S. is far more positive than Europe.

ENERGY: Benchmark U.S. crude was up 1 cent at $91.57 a barrel in electronic trading on the New York Mercantile Exchange.

CURRENCIES: The euro rose to $1.2855 from $1.2841 late Tuesday. The dollar dropped to 108.66 yen from 108.80 yen.

Source: yahoo.com

China stocks rebound on stronger manufacturing

Chinese stocks rebounded Tuesday on unexpectedly strong manufacturing but other Asian markets fell following Wall Street's tumble.

KEEPING SCORE: The Shanghai Composite Index gained 0.2 percent to 2,293.71 and Sydney's S&P/ASX 200 was up 0.4 percent at 5,382.70. Tokyo was closed for a holiday. Hong Kong's Hang Seng shed 0.3 percent to 23,891.66 and Seoul's Kospi shed 0.6 percent to 2,026.72. Benchmarks also fell in Taiwan, Indonesia, Philippines and New Zealand.

CHINESE MANUFACTURING: A preliminary version of HSBC's purchasing managers' index showed unexpectedly strong manufacturing in September, helping to ease fears of a sharper slowdown in the world's second-largest economy. The PMI rose to 50.5 from August's 50.2 on a 100-point scale on which numbers above 50 indicate expansion. That exceeded forecasts that called for a decline due to a slump in China's real estate market, a major driver of manufacturing activity.

THE QUOTE: "Growth in (Chinese) industry edged up somewhat in September, thus providing a modicum of comfort to policymakers and markets. Looking ahead, the short-term outlook for organic growth is modest but not alarming," said Louis Kuijs of Royal Bank of Scotland in a report.

WALL STREET: Stocks were dragged down by concern about Chinese growth and a slide in oil prices despite optimism about the overall U.S. growth outlook. The Standard & Poor's 500 dropped 0.8 percent to 1,994.29 for its biggest one-day decline since Aug. 5. The Dow Jones industrial average fell 0.6 percent and the Nasdaq composite dropped 1.1 percent.

EUROPE DATA: Germany, the continent's biggest economy, was expected to show an improvement in its purchasing managers' index after disappointing August figures. France reports quarterly economic growth that is expected to show a modest improvement over the previous quarter's flat performance. The French purchasing managers' index was expected to show improvement but still a contraction in manufacturing and services activity.

ENERGY: Benchmark U.S. crude was up 48 cents to $91.34 a barrel in electronic trading on the New York Mercantile Exchange.

CURRENCIES: The dollar declined to 108.73 yen from Monday's 108.77 yen. The euro rose to $1.2855 from $1.2850.

Source: yahoo.com

Rumors that Circulates at Wall Street

Siemens to Acquire Dresser Rand for $83/Share

The Deal:

Dresser-Rand Group Inc. (NYSE: DRC) announced Sunday, that it has entered into a definitive merger agreement with Siemens under which Siemens will acquire all of the outstanding shares of Dresser-Rand common stock for $83.00 per share in cash, in transaction valued at approximately $7.6 billion.

The deal is expected to close in the summer of 2015, subject to Dresser-Rand shareholder approval, as well sas regulatory approval in the U.S., Europe and certain other jurisdictions.

Sulzer (OTC: SULZF) confirmed Monday they had terminated discussions with Dresser-Rand and were pursuing other M&A projects. General Electric (NYSE: GE), which was rumored by Financial Times on Friday to be preparing a bid for Dresser-Rand, was not heard from on Monday.

Dresser-Rand shares closed Monday at $81.97, a gain of 2.5%.

Report Silver Lake in Talks to Acquire Shutterfly for $50+/Share

The Rumor:

Shares of Shutterfly (NASDAQ: SFLY) surged higher Monday, following a report from Reuters that private equity firm Silver Lake was in talks to acquire the photo sharing company for more than $50.00 per share.

Spokespersons for Shutterfly and Silver Lake did not respond to requests for comment.

Shutterfly shares closed Monday at $50.12, a gain of more than 5%.

Merck KGaA to Acquire Sigma-Aldrich for $140/Share in Cash

The Deal:

Merck KGaA (OTC: MKGAY) and Sigma-Aldrich (NASDAQ: SIAL) announced Monday, that Merck KGaA will acquire Sigma-Aldrich for $17.0 billion or $140 per share in cash. The deal is expected to close in mid-year 2015, subject to regulatory approvals and other customary closing conditions.

Sigma-Aldrich closed Monday at $136.40, a gain of 33%.

EMC Reportedly Held Merger Talks with Hewlett-Packard

The Rumor:

EMC Corporation (NYSE: EMC), reportedly held talks with Hewlett-Packard (NYSE: HPQ), according to a report from WSJ. The discussions are said to have taken place over a period of almost a year, and according to sources, the talks have recently ended. It is not known if the talks can be revived.

Other companies seen as potential suitors for all or part of EMC, include Dell, Cisco (NASDAQ: CSCO) and Oracle (NASDAQ: MSFT). Shareholder Elliott Management has been urging EMC to consider a breakup, including a sale of its 80% VMware stake, to unlock shareholder value.

EMC closed Monday at $29.68, a gain of $0.15, on three times average volume. Shares of VMware (NYSE: VMW) rose 2% Monday, to close at $96.16.

Report Allergan Rejected Bid from Actavis; Allergan in Talks to Acquire Salix

The Rumor:

Allergan Inc. (NYSE: AGN) recently rejected a takeover bid from Actavis plc (NYSE: ACT), according to a report from WSJ. Actavis is said to still be interested in a deal for Allergan.

Sources say Allergan is in talks to acquire Salix Pharmaceuticals Ltd. (NASDAQ: SLXP) in an all-cash deal worth more than $10 billion. Salix has already agreed to a merger with Cosmo Pharmaceuticals.

Allergan has been fighting off a hostile takeover by Valeant Pharmaceuticals International, Inc. (NYSE: VRX), led by investor Bill Ackman.

Allergan closed Monday at $166.12, a loss of more than 1%, and traded up 1.5% after-hours. Actavis closed Monday at $235.62, a loss of 2.5% and gained $1.38 after-hours. Salix Pharmaceuticals lost 2.5% to close at $159.83, but traded at $185.00 after-hours.

Source: benzinga.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

Oil Price Mixed in Asian Trade

Oil prices were mixed in Asia Tuesday following weak economic data from top energy consumers the United States and China, and as dealers await a key US Federal Reserve meeting.

US benchmark West Texas Intermediate for October delivery was down 16 cents at $92.76, while Brent crude for November rose seven cents to $97.95 in afternoon trade. Brent's October contract expired Monday at $96.65, its lowest level since June 2012.

Singapore's United Overseas Bank said "investors continued to fret over anaemic oil demand growth" after the release of US data on Monday.

US industrial production unexpectedly fell in August by 0.1 percent, after six months of gains. Manufacturing output meanwhile fell 0.4 percent.

The data came after China reported over the weekend that growth in industrial production fell sharply to 6.9 percent in August, the slowest pace in more than five years.

Analysts said investors were awaiting the highly anticipated two-day meeting of the Fed's policy-making committee that begins Tuesday.

They are concerned by the prospect the Fed will begin hiking interest rates sooner than expected, and will be scrutinising statements by the bank's chief Yellen on Wednesday.

The Fed has previously said it would keep interest rates low for a considerable time after ending its massive stimulus programme, based on continued weakness in the labour market.

Its once $85 billion-a-month bond buying programme is expected to be fully wound down by the end of October.

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

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

Tokyo Stocks Open Up

Tokyo stocks opened 0.23 percent higher on Wednesday after Wall Street continued its record-setting bull run.

The Nikkei 225 index was up 35.34 points at 15,556.56 at the start. Yutaka Miura, senior technical analyst at Mizuho Securities, said "stocks could go either way today" as solid trading cues remain thin.

Wall Street sustained its seemingly indefatigable bull run on Tuesday, helped by more encouraging data on the US economy.

The S&P 500 finished above 2,000 for the firs time, capping a steep climb from 676 in March 2009.

It closed up 0.11 percent at 2,000.2, while the narrower Dow Hones Industrial Average rose 1.07 percent to 17,106.70.

The dollar was at 104.11 yen in early Asian trade, compared with 104.05 yen in New York Tuesday afternoon.

The euro bought $1.3168 and 137.14 yen against $1.3169 and 137.03 yen in US trade.

Source: yahoo.com

Stocks to Watch for Today!

Some of the stocks that may grab investor focus today are:

Wall Street expects Foot Locker (NYSE: FL) to report its Q2 earnings at $0.54 per share on revenue of $1.57 billion. Foot Locker shares rose 0.82% to $53.00 in after-hours trading.

The Gap (NYSE: GPS) reported better-than-expected fiscal second-quarter earnings. Gap shares rose 0.74% to $43.50 in the after-hours trading session.

Analysts are expecting ANN (NYSE: ANN) to have earned $0.68 per share on revenue of $648.09 million in the second quarter. ANN shares gained 0.54% to close at $38.81 yesterday.

Aéropostale (NYSE: ARO) issued a downbeat third-quarter outlook. However, the company reported stronger-than-expected second-quarter results. Aéropostale shares dipped 7.16% to $3.63 in the after-hours trading session.

Analysts expect Hibbett Sports (NASDAQ: HIBB) to report its Q2 earnings at $0.31 per share on revenue of $201.05 million. Hibbett Sports shares declined 0.02% to $46.82 in after-hours trading.

GameStop (NYSE: GME) reported upbeat results for its fiscal second-quarter. GameStop shares jumped 5.09% to $42.55 in the after-hours trading session.

Source: benzinga.com

Asia stocks makes slight gains!

Asian stock markets got a slight boost Wednesday from positive U.S. economic figures that reinforced expectations of eventual Fed rate hikes and a stronger dollar.

KEEPING SCORE: Hong Kong's Hang Seng was up 0.1 percent at 25,154.62 while Japan's Nikkei 225 was little changed at 15,441.70. Australia's S&P/ASX 200 was also flat while Southeast Asian markets advanced. Taiwan's Taiex rose 0.4 percent to 9,278.81 while Seoul's Kospi shed 0.1 percent to 2,068.73.
US OUTLOOK: Signs that inflation is in control in the U.S., as well as fairly positive earnings reports and other indicators of a healthy economy, are helping Asian shares. Recent data on housing has reassured regional markets that the U.S. growth is on a relatively solid track. Also helping Asian shares are positive news from Home Depot, the largest U.S. home improvement retailer, which raised its annual profit forecast after reporting strong earnings results.

FEDERAL RESERVE: It's unclear when the U.S. Federal Reserve will start raising interest rates but many analysts predict sometime in 2015. That could be a plus for countries such as Japan, where giant exporter have much to gain from a strong dollar. Eyes are on a speech later in the day by Federal Reserve Chair Janet Yellen, as well as on the release of minutes from a previous Fed policy meeting.

ANALYST TAKE: "Traders will turn their attention to the FOMC minutes later tonight, recalling a less-hawkish-than-expected minutes in July, which led to a sell-off in the dollar," said Desmond Chua, market analyst with CMC Markets in Singapore. Traders were also expecting to get more of a clue about when the first interest rate hike might come, he added.

WALL STREET: The Standard & Poor's 500 gained 0.5 percent to 1,981.60. The index is up 1.4 percent for the week and is approaching its record close of 1,987.98 reached July 24. The Dow Jones industrial average rose 0.5 percent to 16,919.59. The Nasdaq composite climbed 0.4 percent to 4,527.51.
CURRENCIES. The dollar has surged recently to near 103 yen levels, and was trading at 103.19 yen, up from 102.95 yen late Tuesday. The euro fell to $1.3308 from $1.3322.

ENERGY: Benchmark U.S. crude for September delivery was up 49 cents at $94.97 a barrel in electronic trading on the New York Mercantile Exchange. It dropped sharply Tuesday and is down nearly 4 percent for August due to ample supplies. The September contract expires Wednesday. The more actively traded October contract was down 6 cents at $92.80 a barrel.

Source: yahoo.com