Trader Talk
- Stocks Lurking Near New Highs Again
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
TRADER TALK RSS FEED
MOST SHARED
- Tiger Woods Out of Hospital After Accident
- The Good Entrepreneur Winner
- Get Paid Six Figures to Wear a T-Shirt?
- Dubai Spooks Investors But May Bring Buying Opportunity
- Global Selloff From Dubai Woes Shows Signs of Winding Down
- Longer Lines, Fuller Carts This Black Friday
- 8 Retailers that Gain During the Holidays
- Halftime Report: Dubai - First Ripple Of Larger Crisis?
- Some of Dubai World's Major Holdings Around Globe
- Next Week: Cash In Now Or Wait For A Santa Rally?
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
- Global Selloff From Dubai Shows Signs of Winding Down
- Dubai Stock Selloff May Bring Buying Opportunity
- Longer Lines, Fuller Carts This Black Friday
- Tiger Woods Out of Hospital After Accident
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- Dubai's Debt Woes Signal New Era for Creditors
- Get Paid Six Figures to Wear a T-Shirt?
- The World's Biggest Debtor Nations
- Five Tips for Buying a Foreclosed Home
RSS FEED
Text Size 
Reporter
U.S.-based stocks had a tough week. Peter Boockvar and others have pointed out that stocks with the most U.S.-based focus were the biggest decliners on the week:
- Banks down 16%
- Homebuilders down 13%
- REITs DOWN 13%
- Retail DOWN 6%
While Emerging markets were down only 3 percent.
There was good news...and not so good news, this week.
Good news: financials and several other companies raised much-needed capital, even though their stock prices came off their highs.
This was an important test for financials, the ability to raise money without the government. Citigroup, for example, is raising $2b in bonds without a government guarantee, 562 basis points over comparable 10-year Treasuries, which seems to be close to the norm these days. Indications are that the offering is oversubscribed.
Separately, remember that Citi has announced that it is proceeding with its plan to convert $20.5 billion in publicly-held preferred securities to common shares, dividends of those preferreds presumably will be suspended once the exchange program occurs.
And not so good news....credit card defaults rose to record levels. Citi reporting a 10.21 percent charge-off rate. Wells Fargo also had a 10.03 percent charge-off rate.
Sign of the times: utility companies, gas companies, and coal companies were all weak as it appeared that demand for energy would remain weak.
I noted earlier that utility FirstEnergy, which sells energy in an auction process for Ohio customers, reported receiving prices well below what were anticipated. The problem: lower demand for coal, gas, and nuclear power from both residential and industrial customers.
_____________________________
_____________________________
LATEST FROM TRADER TALK
Questions? Comments?
POPULAR TRADER TALK POSTS
- Stocks Lurking Near New Highs Again
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
Data is a real-time snapshot *Data is delayed at least 15 minutes