Evening Market Wrap

Evening Market Wrap Thursday, October 13, 2011, 17:01 Contents Commentary Economic News Corporate News Forex Commentary Political News Commentary Stocks Close Mixed After Seeing Early Weakness - U.S. Commentary Stocks moved mostly lower in morning trading on Thursday before regaining some ground in the afternoon. The markets experienced considerable volatility in the latter part of the trading day, eventually ending the session mixed. (Oct 13, 2011) Full Article Economic News U.S. Initial Unemployment Claims Fall Slightly To 404,000 New U.S. unemployment claims ticked down slightly in the week ended October 8th, according to figures released Thursday by the Labor Department. On a seasonally adjusted basis, the Labor Department reported that 404,000 Americans filed new claims for unemployment insurance for the week. The number of new claims is slightly lower than the revised figures for the previous week, which showed 405,000 new claims, up from the 401,000 initially reported. (Oct 13, 2011) Full Article U.S. Trade Deficit Virtually Unchanged At $45.6 Billion In August With the value of imports and exports nearly unchanged in the month of August, the Commerce Department released a report on Thursday showing that the trade deficit for the month was also virtually unchanged from the previous month. The report showed a trade deficit of $45.61 billion in August compared to a revised deficit of $45.63 billion in July. Economists had expected the deficit to widen to $46.0 billion from the $44.8 billion originally reported for July. (Oct 13, 2011) Full Article Corporate News Deutsche Bank CEO Ackermann Doubts Effectiveness Of Capital Injection Deutsche Bank AG (DB) Chief Executive Officer Josef Ackermann Thursday expressed doubt on the effectiveness of raising capital ratios in dealing with the debt crisis. Speaking at a conference in Berlin, Ackermann opined that the problem was not the banks' capital adequacy but instead the loss of status of government bonds as risk-free assets. (Oct 13, 2011) Full Article BNY Mellon Names Jim McEleney COO, EMEA BNY Mellon, the corporate brand of the Bank of New York Mellon Corp. (BK), said it named Jim McEleney Chief Operating Officer for Europe, Middle East & Africa, based in London. As COO of EMEA, McEleney oversees the regional governance framework on behalf of all BNY Mellon businesses and operations in EMEA, and has full responsibility for the management of BNY Mellon's relationships with EMEA regulators. (Oct 13, 2011) Full Article JPMorgan Chase Q3 Net Profit Slides Financial services giant JPMorgan Chase & Co. (JPM) posted a decline in its third-quarter 2011 net income to $4.26 billion from $4.42 billion in the prior-year quarter. However, quarterly earnings per share for the recent quarter were $1.02, higher than $1.01 in the third quarter of 2010. (Oct 13, 2011) Full Article Forex Commentary Dollar Steadies Amid Global Economic Worries The dollar fell no further against its surging European counterparts on Thursday, supported by its safe haven appeal amid renewed anxieties about the health of the global economy. Disappointing Chinese export data raised red flags about aggregate demand for goods. (Oct 13, 2011) Full Article Political News Obama Re-election Campaign Raises $70 Million In 3rd Quarter President Barack Obama's campaign Thursday announced an impressive fundraising total for the third quarter. Between the campaign itself and the Democratic National Committee, Obama raised more than $70 million, according to an email to supporters sent by Campaign Manager Jim Messina. Of that total, Obama for America, the campaign's official name, took in $42.8 million, while the DNC raised $27.3 million. (Oct 13, 2011) Full Article Home | Top Stories | Breaking News | Economic News | Forex | Politics | Featured Interviews Sent to autoforextradingpro@gmail.com | Customize your alerts | Unsubscribe Copyright © 2011 RTTNews. All rights reserved. By using this service, you agree to the Terms of Service