Dow dropped only 8, advancers ahead of decliner 2-1 & NAZ was up 16, largely on strength in Apple (AAPL) stock. The Financial Index rose 1 to the 198s (a 7 week high).
The MLP index rose another 4+ to the 381s & the REIT index was up 2 to the 264s (just below its yealry highs). Junk bond funds were higher while yields on Treasury 10 & 30-year debt declined the most in a month after a report showed US manufacturing unexpectedly contracted in Jun, spurring concern the economic recovery is floundering. Oil & gold fell in today's markets.
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif)
Photo: Bloomberg
With demand for tablets & smartphones surging, Intel (a Dow stock) is betting that supplies of touchscreens will start to run short just as PC makers begin to introduce touch-enabled laptops & other devices. To nsure that PC manufacturers don’t get squeezed out, the chipmaker last month said it had agreed to pay 4 Taiwanese touch-screen makers to secure supplies of the parts. The deals reflect the difficulty of getting key components as the tablet market is poised to jump 48% to $66B in 2012, according to researcher DisplaySearch. From 2011-2016, the market for tablets will grow an average of 42% annually, versus 9% average growth for notebooks, IHS predicts. In 2015, tablets, with some 314M shipments, will overtake laptops. The smartphone market will average 22% growth to reach 1.27B units in 2016. Its stock was even.
Intel Planning Booming Touch Screen Demand for New Laptops: Tech
Johnson & Johnson, a Dow stock & Dividend Aristocrat, is seeking US approval for the first new type of medicine to fight deadly tuberculosis in more than 4 decades. The experimental drug, called bedaquiline, also would be the first medicine specifically for treating multi-drug-resistant tuberculosis. That's an increasingly common form in which at least 2 of the 4 primary TB drugs don't work. Tuberculosis is the world's #2 killer of adults among infectious diseases. J&J's Janssen Research & Development created the drug, which was tested in several hundred patients. The company this fall is to begin late-stage testing that will compare bedaquiline to dummy pills over 9 months in about 600 patients. That study is aimed at seeing whether treatment for resistant tuberculosis can be reduced to nine months from the current 18-24 months recommended by the World Health Organization. Roughly 1/3 of the world's population is estimated to be infected with the bacteria causing tuberculosis. It remains latent in most people for many years but can be activated by another infection or serious health problem. TB is rare in the US but kills about 1.4M a year worldwide, with about 150K of those succumbing to the increasingly common multidrug-resistant forms. Hopefully this drug will prove successful. JNJ rose 44¢.
J&J seeks OK for first drug against resistant TB AP
Photo: Yahoo
In the battle to dominate the global aviation industry, European aerospace giant Airbus announced its first assembly plant in the US, a significant step in the competition with archrival Boeing (a Dow stock). The French-based company said the plant is expected to cost $600M to build & will employ 1K when it reaches full production, likely to be 4 planes a month by 2017. "We are going to create great jobs and generate growth right here," Airbus CEO Fabrice Bregier said. "We know in aerospace, when we create one job, there are about four related jobs so we could bring as many as 5,000," Bregier said later. "The management to the blue collars will be 100 percent American." BA already has a big presence in Alabama, employing 2.7K in defense & rocket operations. Airbus planned to build refueling tankers for the US Air Force in Alabama, but its parent company, the European Aeronautic Defense & Space lost the contract to BA in 2011. The Airbus plant advances the company's strategy of expanding production outside its home base. The company, jointly run by French & German management & with plants in several European countries, wants to expand in China & India as well as the US. BA fell 1.12.
Airbus to Build Planes in Alabama, Challenging Boeing
Today was unusual. Economic data was not encouraging, but stocks rose after a strong finish last week. Forecasts for Q2 & later are being revised lower. Cyprus is is trying to figure out how much to ask for in its bailout. Tomorrow, Jun auto sales will be reported & they will probably be only so-so. But Dow keeps plodding along with an upward bias.
The MLP index rose another 4+ to the 381s & the REIT index was up 2 to the 264s (just below its yealry highs). Junk bond funds were higher while yields on Treasury 10 & 30-year debt declined the most in a month after a report showed US manufacturing unexpectedly contracted in Jun, spurring concern the economic recovery is floundering. Oil & gold fell in today's markets.
AMJ (Aleiran MLP Index tracking fund)
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Treasury yields:
U.S. 3-month |
0.071% | |
U.S. 2-year |
0.293% | |
U.S. 10-year |
1.578% |
| CLQ12.NYM | Crude Oil Aug 12 | 83.79 |  1.17 (1.4%) |
With demand for tablets & smartphones surging, Intel (a Dow stock) is betting that supplies of touchscreens will start to run short just as PC makers begin to introduce touch-enabled laptops & other devices. To nsure that PC manufacturers don’t get squeezed out, the chipmaker last month said it had agreed to pay 4 Taiwanese touch-screen makers to secure supplies of the parts. The deals reflect the difficulty of getting key components as the tablet market is poised to jump 48% to $66B in 2012, according to researcher DisplaySearch. From 2011-2016, the market for tablets will grow an average of 42% annually, versus 9% average growth for notebooks, IHS predicts. In 2015, tablets, with some 314M shipments, will overtake laptops. The smartphone market will average 22% growth to reach 1.27B units in 2016. Its stock was even.
Intel Planning Booming Touch Screen Demand for New Laptops: Tech
Intel (INTC)
Johnson & Johnson, a Dow stock & Dividend Aristocrat, is seeking US approval for the first new type of medicine to fight deadly tuberculosis in more than 4 decades. The experimental drug, called bedaquiline, also would be the first medicine specifically for treating multi-drug-resistant tuberculosis. That's an increasingly common form in which at least 2 of the 4 primary TB drugs don't work. Tuberculosis is the world's #2 killer of adults among infectious diseases. J&J's Janssen Research & Development created the drug, which was tested in several hundred patients. The company this fall is to begin late-stage testing that will compare bedaquiline to dummy pills over 9 months in about 600 patients. That study is aimed at seeing whether treatment for resistant tuberculosis can be reduced to nine months from the current 18-24 months recommended by the World Health Organization. Roughly 1/3 of the world's population is estimated to be infected with the bacteria causing tuberculosis. It remains latent in most people for many years but can be activated by another infection or serious health problem. TB is rare in the US but kills about 1.4M a year worldwide, with about 150K of those succumbing to the increasingly common multidrug-resistant forms. Hopefully this drug will prove successful. JNJ rose 44¢.
J&J seeks OK for first drug against resistant TB AP
In the battle to dominate the global aviation industry, European aerospace giant Airbus announced its first assembly plant in the US, a significant step in the competition with archrival Boeing (a Dow stock). The French-based company said the plant is expected to cost $600M to build & will employ 1K when it reaches full production, likely to be 4 planes a month by 2017. "We are going to create great jobs and generate growth right here," Airbus CEO Fabrice Bregier said. "We know in aerospace, when we create one job, there are about four related jobs so we could bring as many as 5,000," Bregier said later. "The management to the blue collars will be 100 percent American." BA already has a big presence in Alabama, employing 2.7K in defense & rocket operations. Airbus planned to build refueling tankers for the US Air Force in Alabama, but its parent company, the European Aeronautic Defense & Space lost the contract to BA in 2011. The Airbus plant advances the company's strategy of expanding production outside its home base. The company, jointly run by French & German management & with plants in several European countries, wants to expand in China & India as well as the US. BA fell 1.12.
Airbus to Build Planes in Alabama, Challenging Boeing
Boeing (BA)
Today was unusual. Economic data was not encouraging, but stocks rose after a strong finish last week. Forecasts for Q2 & later are being revised lower. Cyprus is is trying to figure out how much to ask for in its bailout. Tomorrow, Jun auto sales will be reported & they will probably be only so-so. But Dow keeps plodding along with an upward bias.
Dow Jones Industrials
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