http://www.peopleandpicks.com/ en-us http://peopleandpicks.com/blog/MTnews/3649270/Pros-And-Cons-Of-Further-Easing-By-the-Fed/ Daily Market Commentary for August 26, 2011 Fed Chairman Ben Bernanke announced the Fed decided to expand September meeting to two days - Sept. 20 and 21 (read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/newscommentary.aspx On why the recovery has been slow: “Historically, recessions have typically sowed the seeds of their own recoveries as reduced spending on investment, housing, and consumer durables generates pent-up demand. As the business cycle bottoms out and confidence returns, this pent-up demand, often augmented by the effects of stimulative monetary and fiscal policies, is met through increased production and hiring. Increased production in turn boosts business revenues and household incomes and provides further impetus to business and household spending. Improving income prospects and balance sheets also make households and businesses more creditworthy, and financial institutions become more willing to lend. Normally, these developments create a virtuous circle of rising incomes and profits, more supportive financial and credit conditions, and lower uncertainty, allowing the process of recovery to develop momentum. These restorative forces are at work today, and they will continue to promote recovery over time. Unfortunately, the recession, besides being extraordinarily severe as well as global in scope, was also unusual in being associated with both a very deep slump in the housing market and a historic financial crisis. These two features of the downturn, individually and in combination, have acted to slow the natural recovery process.” On what actions the Fed could take: “In addition ... Fri, 26 Aug 2011 16:33:41 http://peopleandpicks.com/blog/MTnews/3648502/Steve-Jobs-The-Man-Behind-The-Brain/ Daily Market Commentary for August 25, 2011 Resignation of Steve Jobs, the man behind the brain, as Apple (NasdaqGS: AAPL) chief executive. (read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/newscommentary.aspx After a three-day rise, the markets did an about face and turned lower early in the trading session. Labor Department reported claims for U.S. jobless benefits rose by 5,000 to 417,000 in the week ending August 20. All eyes remain focused on Federal Reserve Chairman Ben Bernanke speech to prominent economists on Friday at 10:00 am ET, in Jackson Hole, Wyoming. Markets are expected to hold flat ahead of and into his speech. Investors are hoping that Bernanke will use his speech to promise another round of asset purchases or QE3. Expectations are for Bernanke to say the Fed will do whatever it has to do to avoid recession. Warren Buffett announced a $5 Billion investment by Berkshire Hathaway, in Bank of America (NYSE: BAC) that sent BofA's stock charging higher with gains of over 11% into the mid-day trading session. Berkshire will purchase 50,000 shares of cumulative preferred stock with a liquidation value of $100,000 a share in a private offering. The preferred stock carries an annual dividend yield of 6% and is redeemable by the company at any time at a 5% premium. "I am impressed with the profit-generating abilities of this franchise, and that they are acting aggressively to put their challenges behind them," Buffett said in a statement. Gold for December delivery fell $38.90 or 2.2% to $1,721.40 an ounce on the Comex division ... Thu, 25 Aug 2011 16:36:58 http://peopleandpicks.com/blog/MTnews/3647619/Hurricane-Irene/ Daily Market Commentary for August 24, 2011 Eastern seaboard monitoring Hurricane Irene which has been upgraded to a Category 3. (read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/newscommentary.aspx Orders for U.S. durable goods jumped 4.0% in July, mainly due to increased demand for autos and commercial aircraft. Continued weakness of the U.S. economy accounted for a fall in most other durable goods. Orders excluding defense rose 4.8%. Because of a bounce-back in airline and auto sales, orders for transportation shot up 14.5%. A sharp increase in orders at Boeing drove bookings of commercial aircraft 43.4% higher. The biggest gain in more than eight years was seen for orders of autos which surged 11.5%. Carmakers were able to put more models on their showroom floors as a parts shortage related to the Japanese earthquake last spring, eased. U.S. orders for long-lasting goods - excluding transportation - rose only by 0.7%. Orders for core capital goods- excluding transportation and government spending on defense - fell 1.5%. The reported drop in orders for core capital goods indicates the U.S. economy remains weak. The weakness may have been attributed by ongoing concerns over a global economic slowdown as well as the high-profile standoff in Washington, D.C. over the government’s borrowing limit. Several regional indicators of U.S. manufacturing activity have shown severe deterioration this month, with many companies reporting a decline in new orders. Job growth remains weak, unemployment remains high and major markets for U.S. exports such as Europe ... Wed, 24 Aug 2011 17:09:01