Salient to Investors: Mark Luschini at Janney Montgomery Scott said the decent jobs report is not enough for the Fed to act imminently yet not so good that the Fed could still act. Michael Shaoul of Marketfield Asset Management said the jobs report allows people to continue to be patient with the domestic economy,
READ MORE... →Salient to Investors: Corn and soybean traders are bullish for a 15th consecutive week. Hedge funds are holding the biggest bet on higher corn prices since September and almost the largest bet on soybeans since at least 2006. 24 percent of U.S. corn crop and 29 percent of soybeans were in good
READ MORE... →Salient to Investors: Almost all ETFs track indexes tied to benchmarks, appealing to investors because of their trading flexibility and lower costs. Investment Company Institute said in 2011, ETFs attracted $118 billion in assets, actively managed mutual funds lost $31 billion in withdrawals. Bloomberg said actively managed ETFs in the U.S.
READ MORE... →Salient to Investors: Mohamed El-Erian at PIMCO sais the economy is healing gradually. Hedge-fund managers et al reversed from net-short to net-long in 10-year note futures for the week ending July 31. Gary Madich at J.P. Morgan Asset Management said the jobs number shows we are not going into a recession or Armageddon. Fed Bank of Richmond
READ MORE... →Salient to Investors: Michael Lynch at Strategic Energy & Economic Research said anything that points to economic growth boosts oil. John Kilduff at Again Capital said the unemployment-rate increase is legitimate and should induce the Fed to take action. If Syria blows up or the ECB announces a rescue of Spain then oil prices
READ MORE... →Salient to Investors: Eric Viloria at Gain Capital expects the euro to grind lower as Draghi left many uncertainties open. Lower volatility makes investments in currencies of nations with higher benchmark interest rates more attractive because the risk in such trades is that market moves will erase profits. Read the full article at
READ MORE... →Salient to Investors: Drew Matus at UBS Securities said the July employment report is reasonably consistent with moderate growth, but doesn’t change the outlook for further Fed easing on Sept. 12-13. Read the full article at http://www.bloomberg.com/news/2012-08-04/payroll-gains-exceeding-forecasts-signal-sustained-u-s-growth.html
READ MORE... →Salient to Investors: Longest weekly DJIA rally since October, led by tech. Mark Freeman at Westwood Holdings says the market gets disappointed when it falls into the trap of not getting what it expects from the central banks – the fundamentals are what matters and they are doing OK. James McDonald at Northern Trust
READ MORE... →Salient to Investors: The €9 billion Athens Games in 2004 highlighted Greece’s inability to manage its budget. Read the full article at http://www.businessweek.com/articles/2012-08-02/how-the-2004-olympics-triggered-greeces-decline
READ MORE... →Salient to Investors: Louis Navellier says: Bill Gross couldn’t be more wrong in predicting lower future equity returns and that equities cannot return more than U.S. GDP growth because the stock market is much more attuned to earnings than to U.S. GDP growth. Nearly half of the S&P 500’s revenues are generated globally versus 30 percent 10
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