| Wall Street advances sharply
Gold futures hit a record, briefly venturing above $913 an ounce as the dollar tumbled against other major currencies. The euro reached a new high above $1.49.Other commodities were higher, too. Crude oil rose $1.51 to settle at $94.20 a barrel on the New York Mercantile Exchange.Peter Dunay, investment strategist at Leeb Capital Management, believes the run in commodities prices will continue as Wall Street eyes what the Federal Reserve will do at its Jan. 29-30 meeting. Chairman Ben Bernanke has convinced investors the central bank will cut rates, and the expectation of cheaper money also bolstered sentiment Monday``We're expecting inflation to be a problem, and believe the commodity demand is going to continue,'' Dunay said. ``We think the Fed is going to throw as much money as they can to keep us out of recession, or keep the recession mild, so commodities will be higher.''Stocks sold off sharply last week after a chorus of Wall Street economists predicted the U.S.
WallSt.net (www.wallst.net) Updates the Investment Community Through ...
NEW YORK, Oct. 23 /PRNewswire/ -- On October 8, Jeff Smith, President of PSM Holdings, Inc. (PinkSheets: PSMH) (http://www.psmholdings.com) updated the investment community in an all-new interview with http://www.wallst.net. Interview highlights include detailed discussions on the following topics: To hear the interview in its entirety, and to read an in-depth report on the company, visit http://www.wallst.net/superstocks/superstocks_profile.asp?ticker=psmh On October 12, Kevin Mills, CEO of Socket Communications, Inc. (NASDAQ: SCKT) (http://www.socketcom.com) updated the investment community in an all-new interview with www.wallst.net. Interview highlights include detailed discussions on the following topics: -- how the company changed its strategic focus over the last year -- "large opportunity" for the company's revamped model -- industry trends bolstering the company's growth prospects -- "exceptionally strong" reviews for the company's mobile product -- upcoming milestones for investors to watch for To hear the interview in its entirety, visit http://www.wallst.net/audio/audio.asp?ticker=SCKT&id=4017 On October 10, Ariel Kelman, Senior Director of Platform Product Marketing for Salesforce.com, Inc.
Oil price hits record $US101
New York's main oil futures contract, light sweet crude for delivery in March, subsequently receded, but closed up 73 cents at an all-time high of $US100.74. The latest price spike burst Tuesday's record price of $US100.10 and record close at $US100.01. In London, Brent North Sea crude for April delivery settled 14 cents lower at $US98.42, after striking a record $US98.70 Tuesday. Prices have soared amid growing speculation that OPEC, which supplies about 40 per cent of the world's oil, may cut output at its March 5 meeting in Vienna, anticipating a fall in demand at the end of the northern hemisphere winter and a US economic slowdown, analysts said. "Supply worries and comments by some OPEC members that the group might not raise output at their March meeting provided the catalyst for the sharp rally," said Barclays Capital analyst Kevin Norrish.
TSX joins global market rout
Bush for a $145 billion US economic stimulus package. Also weighing on the benchmark Canadian stock index Monday was a big drop in the price of oil. The price of Brent crude fell $1.72 US to end at $87.51 US a barrel. Gold prices also plunged $14.80 to $867.45 US an ounce. The TSX endured a four-day sell-off last week that sliced 961 points from the benchmark index. The 6.6 per cent drop in the index last week was its worst weekly performance since 2000. "This isn't a 'panic', but in a thin market, with the U.S. closed for a holiday, the scale of the decline today may have been exacerbated by illiquidity — simply not enough bargain hunters around," said CIBC World Markets senior economist Avery Shenfeld. "Still, add in the decline last week, and its clear that equity investors are, if not panicky, very worried," he said.
Indiana Editorial Roundup
This latest expansion of gambling must not be allowed.
To say that bars illegally allowed gambling in the past should not be an argument for now legally allowing them to operate these games.
And gambling remains a moral issue, which is why it is so tightly controlled. Allowing anyone to operate a gambling den, with no recourse, would have serious repercussions for society.
Indiana would get an estimated $5 million to $25 million a year from the taverns as part of House Bill 1153, the legislation authorizing bars to offer pull tabs and other low-stakes games of chance. That's not justification for gambling to be spread to bars.
The bill passed the House but must be stopped in the Senate.
1 2 next More articles The Swamp: Your inside source for Campaign '08.
Cost of corn pinches plants
High corn prices have created a cash-flow problem for a South Dakota ethanol plant.
Poet Biorefining in Chancellor has borrowed $6.3 million from its partner, Poet, in response to an increase in the price of corn futures that shows little sign of abating.
On Jan. 14, the Chancellor ethanol company and Poet agreed to a short-term loan to be repaid Feb. 13, including interest at an annual rate of 9.25 percent. According to a filing with the Securities and Exchange Commission, the money was needed to cover margin calls triggered by a price increase in the corn futures market at the Chicago Board of Trade. "We did not have the necessary funds from operations to cover the margin calls," General Manager Rick Serie wrote in the filing.
The plant, which produced about 51 million gallons of ethanol last year, was securing grain with plans to distill 100 million gallons this year.
Obama: Beware 'Reverse Bradley'
He has to lose to Bill Richardson to be in trouble? ... Update: Politico's Josh Kraushaar has some standards ("at least a strong second-place performance")! ... 5) Note that Richelieu, a McCain booster (even in the highly unlikely event that he's not Mike Murphy) predicted McCain would finish third with 17%--a "surging third." He came in fourth with 13%--a "disappointing 4th," wrote NBC's First Read, in an honest assessment you don't find many other places in the MSM. Somehow, the press never requires McCain to actually match the "comeback" hype it generates about him. ... **--I once speculated that Harold Ford might benefit from a different kind of Reverse Bradley effect in his Tennessee senate race, in the form of conservative white voters who don't want to admit to their buddies or to pollsters that on the secret ballot they were going to vote for the black Democrat.
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