Month: September 2013

A new Washington Post-ABC News poll shows Americans blame Republicans in Congress for not finding middle ground on the debt. But the Post’s polling analyst Scott Clement tells “In Play” it’s bad news for both sides of the aisle.

President Barack Obama is touting positive gains in the economy but also warning that a “locked up” Washington is delaying progress on other issues that could build on that growth. (Sept. 18)

According to a document filed with the SEC, New Enterprise Associates, a venture firm that was one of Groupon?s earliest investors, distributed 20 million shares of Groupon common stock to its general partners and its own investors.

Microsoft has announced a new $40 billion share repurchase authorization with no expiration date. With the move, Microsoft in effect granted itself $40 billion in latitude to buy its own shares whenever it wants to. The announcement came with a dividend increase of 22 percent to $0.28 per share.

Though the Social Security Administration is still reviewing the law, it is encouraging applications for spousal benefits from couples in same-sex marriages and civil unions.

As the White House and Congress careen toward another fiscal showdown, the nonpartisan Congressional Budget Office warned that President Obama and lawmakers have been cutting the wrong kind of federal spending as they try to avoid unsustainable levels of debt in coming decades.

Microsoft said it will deliver a quarterly dividend of 28 cents a share, up 5 cents from before. The company also said it has authorized another $40 billion to buy its own shares as it throws investors some cash ahead of its financial analyst meeting. The move may serve as balm for shareholders who are questioning the Nokia purchase as well as Microsoft’s ability to innovate.

An uneven recovery, and consumers who are still struggling with a little too much debt and weak income growth will lead to higher volatility going forward, says Russ Koesterich, chief investment strategist at Blackrock.

By CountingPips.com

The US dollar lost ground across the board against the other major currencies last week as the American currency fell for the week against the euro, Swiss franc, Japanese yen, Canadian dollar, Australian dollar, British pound sterling and the New Zealand dollar.

This coming week is all about the US Federal Reserve Committee and whether they will scale back or “taper” their $85 billion a month (QE3) bond buying stimulus program. The FOMC committee interest rate decision takes place on Wednesday afternoon and the market is largely expecting the Fed to make some kind of reduction in the the stimulus program. A recent poll by Bloomberg News showed that economists were expecting for the stimulus to be scaled back to $75 billion a month.

The market reaction (and US Dollar trading action) will likely depend, first of all on if there is reduction, the size of the reduction and finally the comments and guidance from Chairman Ben Bernanke following the committee announcement.

In addition to the US Fed news this week, there is also major economic news on the Monday schedule with the release of the Euro Zone consumer price index. Tuesday’s schedule has the United Kingdom and the United States consumer price index releases. Wednesday is headlined by the US Fed announcement and has the New Zealand GDP report release. Thursday holds the Switzerland interest rate decision, United Kingdom retail sales and the US weekly jobless claims while Friday has the Canadian consumer price index and euro zone consumer confidence releases.

Please See the week’s highlighted economic events below:

This Week’s Economic Highlights:

Sunday, September 15

China — foreign direct investment
New Zealand — Westpac consumer confidence
New Zealand — services index

Monday, September 16

Euro zone — consumer price index
United States — industrial production
United States — manufacturing production

Tuesday, September 17

Australia — RBA meeting minutes
United Kingdom — producer prices
United Kingdom — consumer price index
euro zone — Germany ZEW survey
United States — consumer price index
United States — long-term TIC flows
United States — nahb housing market Index

Wednesday, September 18

Australia — conference Board leading index
United Kingdom — bank of England minutes
Switzerland — ZEW survey
United States — housing starts/building permits
United States — Federal Reserve interest rate decision
United States — Federal Reserve comments on buying program
New Zealand — GDP report
Japan — merchandise trade balance

Thursday, September 19

Japan — leading index
Switzerland — trade balance
Switzerland — interest rate decision
United Kingdom — retail sales
United States — weekly jobless claims
United States — leading indicators
United States — Philadelphia Federal Reserve survey
Japan — foreign bonds/foreign stocks buying

Friday, September 20

Canada — consumer price index
euro zone — consumer confidence

Article by CountingPips.com – Forex Blog

By rolling out television, print and billboard marketing campaigns, Zurich Insurance is aiming to advertise business as usual after a suicide and resignation in the Swiss insurer’s top ranks.As a December 5 deadline creeps closer for updating investors on targets the company will likely miss, the spotlight is on how CEO Martin Senn will pilot the company after the suicide of its finance chief Pierre Wauthier last month and the subsequent resignation of its chairman Josef Ackermann days later.