- Wall Street Fears Dodd Bill
- Have Loan Losses Peaked for European Banks?
- Dow Industrials at New Highs—But Other Indices Lag
- Risk Trade Is Back On
- HMOs Up Despite Looming House Vote
- What The Street Thinks of The Jobless Report
- Friday It's All About Jobs, Jobs, Jobs
- October Retail Sales—The Good, Bad and Ugly?
- When Good News = Good News
- Retail And Jobs Lift Mood
TRADER TALK RSS FEED
MOST SHARED
- JPMorgan Chase to Hire 1,200 Mortgage Officers
- Apple Surpasses Nokia as Top Cellphone Maker by Profits
- Parsing Treasury's Loan Modification Report
- Gold Heading to $1150: Art Hogan
- Herbalife Vs. Hedge Funds
- Toll Brothers: More Contracts Signed, but Sales Down
- Adobe Cuts 680 Jobs, to Take Charge
- Cramer Jeers J&J, Applauds Abbott
- Power for US From Russia’s Old Nuclear Weapons
- Beware of 'Trampling Effect' When Market Tops: Manager
- Gold Heading to $1150: Art Hogan
- Starbucks Brews Up Growth
- Farr: An Extended Period—No Fat Lady in Sight
- More Upside if S&P Passes This Number: Market Pro
- Murdoch Lashes Out At Google
- Fighting The Flu Vaccine Critics
- Nov. 10: Unusual Volume Leaders
- Shadow Inventory Dwarfs Loan Mods
- Apple Surpasses Nokia as Top Handset Maker by Profit
- Cramer: In This Relay-Race Market, Who Gets Baton Next?
- Workers Staying Put at Their Jobs as Jobless Surges
- Three Things the US Can Do To Stop the Dollar's Decline
- Toll Brothers: More Contracts Signed, but Sales Down
- Fed's Lacker: US in a 'Good Place' With Inflation
- Bear Stearn Fund Managers Not Guilty on All Counts
- Ponzi Proceeds: Bidding on Madoff's Toys
- Commodity ETFs: Returns May Not Match Expectations
More Videos
Trader Talk
Text Size 
The Shanghai Composite dropped another 5 percent today, to a new low, but they are not the only ones. Hong Kong, Singapore and Malaysia are also at new lows.
The dollar is down for the first time in 11 days.
The bottom line, though is that the dollar has been rallying on weakness in Europe and Asia, not on any obvious signs of a turnaround in the U.S. The argument from the bulls last week was that the U.S. will pull out of the global slowdown before anyone else.
Elsewhere:
1) Lowe's [LOW
Loading...
()
] did what every retailer except WalMart has done: they beat for the quarter just ending, but guidance for the third quarter is below expectations.
However, full-year guidance was raised slightly, so they obviously feel the fourth quarter will not be a disappointment. Same store sale comps were only down 5.3 percent, better than most analysts expected. Lowe’s up 4 percent pre-open.
2) The Journal noting that Lehman [LEH
Loading...
()
] may be in line for its second quarterly loss; the current quarter is ending in less than two weeks. The hope had been for a modest profit. Banks in Europe are generally weak this morning. Merrill noted in a note this morning, "We believe European banks are facing a period of further earnings downgrades as the economy slows."
3) UnionBanCal [UB
Loading...
()
] is selling the rest of itself to Mitsubishi UFJ Financial Group [MTU
Loading...
()
]; Mitsubishi already owns only 65 percent of the company. The price is $3.5 billion, or $73.50 a share, a 12 percent premium to Friday's close. UB stock has held up well as it has avoided much of the subprime debacle.
4) Hersheys [HSY
Loading...
()
] announced they raised prices after the close on Friday, in some cases 10 percent, all in an effort to offset higher costs. In January they raised prices an average of 13 percent.
Questions? Comments?
- Wall Street Fears Dodd Bill
- Have Loan Losses Peaked for European Banks?
- Dow Industrials at New Highs—But Other Indices Lag
- Risk Trade Is Back On
- HMOs Up Despite Looming House Vote
- What The Street Thinks of The Jobless Report
- Friday It's All About Jobs, Jobs, Jobs
- October Retail Sales—The Good, Bad and Ugly?
- When Good News = Good News
- Retail And Jobs Lift Mood
Data is a real-time snapshot *Data is delayed at least 15 minutes