Dow started Q3 by shooting up 65, advancers over decliners 5-2 & NAZ rose 31. The MLP index jumped 5+ to the 462s & the REIT index slid 1+ to the 276s. Junk bond funds edged higher & Treasuries were a little weaker. Oil rose
for the 5th time in 6 days on signs of economic growth &
concern than protests in Egypt will spread, affecting Middle
Eastern oil supplies. Gold prices advanced after a dreadful Q2.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif)
Photo: Bloomberg
Apple is seeking a trademark for “iWatch” in Japan as Samsung readies its own wearable computing device. It's seeking protection for the name, which is listed in a category for products such as a handheld computer or watch, according to a filing last month with the Japan Patent Office. It has been leaked there is a team of about 100 product designers working on a wristwatch-like device that may perform some of the tasks now handled by the iPhone & iPad. Samsung, the world’s biggest maker of smartphones, said in Mar it is developing a wristwatch. Sony (SNE) has sold its SmartWatch, which wirelessly connects to phones using the Android operating system & allows users to take calls & reply to e-mails or texts, for more than a year. AAPL stock went up 12+, going back over 400.
Apple Seeks ‘IWatch’ Trademark in Japan as Samsung Readies Wearable Device
Photo: Bloomberg
Big Ben said he is letting up on the monetary gas pedal. But that hasn’t done much yet to affect US auto sales that may have accelerated in Jun to the fastest pace in 66 months. Rates charged for new-car loans didn’t budge from near-record lows after the Fed began signaling a tapering of its bond-buying. Bernanke’s comments triggered a jump in mortgage rates & a stock-market slide. Sales of new cars & trucks probably accelerated last month to the fastest pace since Dec 2007. The projected growth in Jun keeps the US on track for its best annual sales in 6 years. Pent-up demand is coming from Americans replacing the oldest vehicles ever on the roads. Automakers are producing their best cars in a generation, so better vehicles are in showrooms everywhere. What’s more, a weakening ¥ is enabling Japanese carmakers to cut prices or add features. But the central bank’s moves, volatility in stock markets & mortgage rates will test the confidence of consumers to keep buying new cars & trucks.
Autos on Best U.S. Sales Pace Since 2007 With Bernanke Speed Bump: Cars
IPOs more than doubled in Q2 as companies sold businesses before a reversal in stock markets curbed some sales. IPOs raised $42B, compared with $20B in Q1, led by Banco do Brasil's sale of its insurance unit for $5.7B (the biggest offering of the year). The number of deals increased 18% to 239. More than half of the IPOs took place before global markets capped their rallies in May. While some companies going public after markets turned were forced to lower prices, concern about the economy isn’t likely to diminish demand for IPOs, bankers said. Japan’s Suntory Holdings proceeded with the IPO of its non-alcoholic drinks unit last week, pricing shares near the low end of the range, while HD Supply Holdings (HDS) & CDW Corp. (CDW) also pushed ahead with offerings, pricing below their original targets. But Votorantim Cimentos (Brazil's biggest cement producer) rescheduled a planned $3.7B IPO for Sep. High volatility hurts the IPO market.
IPOs More Than Double to $41 Billion Before Market Swing Curbs Some Sales
Stocks had a good day, but finished off the highs. After going solidly above 15K, Dow lost more than 100 in the last 2+ hours. There were hopes that the bond buying program will not be disturbed. But hopes are emotional & transitory. Big economic numbers will be reported this week & traders are anxious. Let's see what tomorrow brings to the stock market.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
Treasury yields:
U.S. 3-month |
0.01% | |
U.S. 2-year |
0.35% | |
U.S. 10-year |
2.49% |
| CLX13.NYM | ...Crude Oil Nov 13 | ....95.98 |  ...0.88 (0.9%) |
Photo: Bloomberg
Apple is seeking a trademark for “iWatch” in Japan as Samsung readies its own wearable computing device. It's seeking protection for the name, which is listed in a category for products such as a handheld computer or watch, according to a filing last month with the Japan Patent Office. It has been leaked there is a team of about 100 product designers working on a wristwatch-like device that may perform some of the tasks now handled by the iPhone & iPad. Samsung, the world’s biggest maker of smartphones, said in Mar it is developing a wristwatch. Sony (SNE) has sold its SmartWatch, which wirelessly connects to phones using the Android operating system & allows users to take calls & reply to e-mails or texts, for more than a year. AAPL stock went up 12+, going back over 400.
Apple Seeks ‘IWatch’ Trademark in Japan as Samsung Readies Wearable Device
Apple (AAPL)
Photo: Bloomberg
Big Ben said he is letting up on the monetary gas pedal. But that hasn’t done much yet to affect US auto sales that may have accelerated in Jun to the fastest pace in 66 months. Rates charged for new-car loans didn’t budge from near-record lows after the Fed began signaling a tapering of its bond-buying. Bernanke’s comments triggered a jump in mortgage rates & a stock-market slide. Sales of new cars & trucks probably accelerated last month to the fastest pace since Dec 2007. The projected growth in Jun keeps the US on track for its best annual sales in 6 years. Pent-up demand is coming from Americans replacing the oldest vehicles ever on the roads. Automakers are producing their best cars in a generation, so better vehicles are in showrooms everywhere. What’s more, a weakening ¥ is enabling Japanese carmakers to cut prices or add features. But the central bank’s moves, volatility in stock markets & mortgage rates will test the confidence of consumers to keep buying new cars & trucks.
Autos on Best U.S. Sales Pace Since 2007 With Bernanke Speed Bump: Cars
IPOs more than doubled in Q2 as companies sold businesses before a reversal in stock markets curbed some sales. IPOs raised $42B, compared with $20B in Q1, led by Banco do Brasil's sale of its insurance unit for $5.7B (the biggest offering of the year). The number of deals increased 18% to 239. More than half of the IPOs took place before global markets capped their rallies in May. While some companies going public after markets turned were forced to lower prices, concern about the economy isn’t likely to diminish demand for IPOs, bankers said. Japan’s Suntory Holdings proceeded with the IPO of its non-alcoholic drinks unit last week, pricing shares near the low end of the range, while HD Supply Holdings (HDS) & CDW Corp. (CDW) also pushed ahead with offerings, pricing below their original targets. But Votorantim Cimentos (Brazil's biggest cement producer) rescheduled a planned $3.7B IPO for Sep. High volatility hurts the IPO market.
IPOs More Than Double to $41 Billion Before Market Swing Curbs Some Sales
Stocks had a good day, but finished off the highs. After going solidly above 15K, Dow lost more than 100 in the last 2+ hours. There were hopes that the bond buying program will not be disturbed. But hopes are emotional & transitory. Big economic numbers will be reported this week & traders are anxious. Let's see what tomorrow brings to the stock market.
Dow Jones Industrials
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