STOCK MARKET WATCH, Tuesday November 13

Source: du

STOCK MARKET WATCH, Tuesday November 13, 2007

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 435 LONG DAYS
DAYS SINCE DEMOCRACY DIED (12/12/00) 2492 DAYS
WHERE'S OSAMA BIN-LADEN? 2214 DAYS
DAYS SINCE ENRON COLLAPSE = 2175
Number of Enron Execs in handcuffs = 19
ENRON EXECS CONVICTED = 10
Enron execs conveniently deceased = 3
Other Arrests of Execs = 54

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U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES-----------------------------S&P FUTURES

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AT THE CLOSING BELL WHEN BUSH TOOK OFFICE on January 22, 2001
Dow - 10,578.24
Nasdaq - 2,757.91
S&P 500 - 1,342.90
Oil - $27.69/bbl
Gold - $266.70/oz.

AT THE CLOSING BELL ON November 12, 2007

Dow... 12,987.55 -55.19 (-0.42%)
Nasdaq... 2,584.13 -43.81 (-1.67%)
S&P 500... 1,439.18 -14.52 (-1.00%)
Gold future... 807.70 -27.00 (-3.34%)
30-Year Bond 4.59% -0.01 (-0.17%)
10-Yr Bond... 4.21% -0.01 (-0.33%)






GOLD, EURO, YEN, Loonie and Silver

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PIEHOLE ALERT

Heads Up!
Preliminary info on appearances by Bush & Co. throughout the country. Details & links are added as they become available so check back. And if you know more, are organizing something, or would like to, contact actionpost@legitgov.org

For information on protests and other actions Citizens For Legitimate Government

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Read more: du

by ROB KIRBY

For those of you who ascribe to the notion that hindsight really is 20/20, I offer you these words uttered by Richard W. Fisher, Chairman and CEO of the Federal Reserve Bank of Dallas, on June 14, 2006:

“Faith is certainly the basis of your confidence in the Federal Reserve. I have spoken in previous speeches of our “faith-based currency,” a term I use only slightly tongue in cheek. The dollar—like the euro, the yen, the British pound and other currencies—is what economists call a fiat currency. It is backed only by the federal government’s power to raise the revenues needed to meet its obligations and by the rectitude of the U.S. central bank. If the market were to lose faith in either assumption, the dollar would be debased.”

You see folks, from where I sit it appears that confidence in the U.S. Federal Reserve is on the wane . Constant bleats that inflation is low and contained are now sounding more and more like the charlatan calls that the sub-prime / credit-crunch issues we are now facing were contained too. As Bill Fleckenstein reported:

“Economist John Williams says real unemployment and inflation numbers -- figured the old-fashioned way -- may be two or three times what the government admits. Here’s why, and what it means for Social Security.”

-cut-

Regarding the Dallas Fed’s Fisher, it was Gary Dorsch, editor Global Money Trends Magazine who reported back in 2006 that:

On April 11th, Dallas Fed chief Richard Fischer said the central bank will do whatever it takes to maintain the integrity of the US dollar, and to insure inflation doesn't "raise its ugly head". "In addition to a faith-based currency, we are the currency of the world and we must maintain its integrity. I will spend every ounce of energy doing that. I have no doubt that my colleagues will do exactly the same."

Are you a believer?

http://www.financialsense.com/Market/wrapup.htm

10:00 AM Pending Home Sales Sep
Briefing Forecast NA
Market Expects -2.0%
Prior -6.5%

2:00 PM Treasury Budget Oct
Briefing Forecast -$59.0B
Market Expects -$53.0B
Prior -$49.3B

http://biz.yahoo.com/c/e.html

SINGAPORE - Oil prices dropped Tuesday after a key OPEC member left open the possibility the oil cartel will increase output to curb rising prices, and following the strengthening of the dollar overnight.

Saudi Arabian Oil Minister Ali al-Naimi said production will be discussed when the Organization of Petroleum Exporting Countries meets next month in Abu Dhabi in the United Arab Emirates.

Light, sweet crude for December delivery fell 6 cents to $94.56 a barrel in Asian electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell $1.70 to settle at $94.62 a barrel Monday.

-cut-

Investors will have plenty of additional supply and demand data to chew on. On Tuesday, the International Energy Agency will issue its monthly report on crude supplies and demand. On Thursday, the Energy Department's Energy Information Administration will issue its weekly inventory report.

The EIA report is expected to show U.S. crude oil inventories fell 300,000 barrels last week, according to the average estimate of analysts polled by Dow Jones Newswires. Gasoline inventories, on average, likely fell 100,000 barrels, while distillate stocks were expected to fall 300,000 barrels. Refinery use likely rose 0.7 percentage point to 86.9 percent of capacity.

http://news.yahoo.com/s/ap/oil_prices

ISLAMABAD (Reuters) - OPEC President Mohammed bin Dhaen al-Hamli said on Tuesday the group would take its next decision on output policy in December, further dampening hopes of a surprise production increase at this week's OPEC summit.

The Organization of the Petroleum Exporting Countries' next policy meeting is set for December 5 in Abu Dhabi, but heads of state and oil ministers will be gathering this week in Riyadh.

Asked whether he believed that OPEC needed to increase production, Hamli said: "The next OPEC meeting is going to take place in early December and there we have to look at the market fundamentals and we will take a decision accordingly."

-cut-

Saudi Oil Minister Ali al-Naimi said on Sunday that OPEC would discuss an increase in production when it meets, although he clarified in an interview published on Tuesday that the group would not discuss production policy during the Riyadh summit.

http://news.yahoo.com/s/nm/20071113/bs_nm/opec_president_dc_1

LONDON (CNNMoney.com) -- A top U.S. forecaster expects gas prices to jump another 20 cents a gallon by December, according to a published report.

Guy Caruso, head of the Energy Information Administration, said gas prices will keep climbing even if crude prices don't because oil refiners haven't passed the recent rise in crude prices on to gas consumers, the Wall Street Journal said.

-very short-

http://money.cnn.com/2007/11/13/news/economy/gas_prices/index.htm?postversion=2007111304

Saudi minister says no output hike at Riyadh summit
http://www.marketwatch.com/news/story/saudi-minister-says-no-output/story.aspx?guid=%7B46BBDA54%2DF733%2D41DD%2D8B2B%2DC48D09A66009%7D

http://www.app.com.pk/en/index.php?option=com_content&task=view&id=20829&Itemid=2

ISLAMABAD, Nov 13 (APP): Prime Minister Shaukat Aziz Tuesday said biggest ever foreign investment of US $ 5 billion for establishment of oil refinery reflects the confidence of investors in policies of the present government. He was talking to the UAE delegation headed by Muhammad Bin Dhalen Al- Hamili, UAE Minister for Energy prior to the signing of MoU here at the PM’s House.

Pakistan is an ideal country for investments and signing of MoU with UAE speaks itself of country’s investment policies, he said and added today is an historic day where Pakistan is receiving the biggest ever Foreign Direct Investment (FDI) for setting-up an oil refinery at Khalifa Point in the coastal area near Hub Balochistan.

The Prime Minister said the signing of MOU is a symbol of friendship between the two countries. He said the refinery would not only fulfill the domestic needs but also cater for international demand. This would also help in creating new jobs and fill energy demand gap.

He said the economic turn around in the last five years has positioned Pakistan as one of the fastest growing economies in Asia.

The size of the economy, he said has doubled and GDP is growing at an average of 6-8% per annum thus reducing poverty, increasing per capita income to US$ 1000, generating more employment opportunities and improving the standard of living of the people resulting in growing middle class in the country.

Referring to the demographic situation of Pakistan, the Prime Minister said out of a total population of 160 million people, 100 million are below the age of 25 and by imparting them with necessary job skills, this would be an asset for the country and it would be a great attraction for the foreign investors.

He said this year alone 100,000 people have been trained in different disciplines through National Vocational and Technical Education Commission to contribute towards the development of national economy.

The Prime Minister said because of new initiatives undertaken in the communication sector, the tele-density in country has also increased to 46 % and is continuously increasing.

He said it is due to our unprecedented economic growth that there is a surge in demand in the energy sector and added a mix of energy plans has already been initiated to meet the demand in this regard.

Highlighting the close fraternal ties between Pakistan and UAE, the Prime Minister said the relations between the two countries are based on shared faith, history and commonality of views and Pakistan always feels proud of its friendship with UAE.

Muhammad Bin Dhalen Al-Hamili appreciated the government of Pakistan’s reform agenda and economic policies which have led the country to become a destination of choice for investments.

He said the relations between the two countries are time tested and would further grow in future.

He said this is the biggest ever investment made by UAE government and expressed confidence that UAE would invest more in Pakistan in future.

The meeting was informed that the International Petroleum Investment Company (IPIC) of Abu Dhabi and Pak Arab Refinery Limited (PARCO) would jointly set up 200,000-300,000 barrels per day refinery named Khalifa Coastal Refinery at the Khalifa Point near Hub Balochistan and would cost approximately US$ 4-5 billion where the initial equity of PARCO would be 26% while 74% equity would be shared by IPIC.

The meeting was further informed that upon completion of the project, Khalifa Point area will develop in a new city with all civic amenities and related infrastructure.

The development of port infrastructure in the form of Single Point Mooring at Khalifa Point will handle additional petroleum products in the country and will provide 1.4 million tons of additional POL storage capacity.

This project will generate employment for 10,000 people during construction phase and direct employment for 1000 persons and indirect for more than 3000 during operation phase.

/...

Cronies, circling... :smoke:

NEW YORK (Reuters) - Shares in E*Trade Financial Corp sank 59 percent to a five-year low on Monday after an analyst said mounting credit losses may prompt customers to yank deposits and could put the online brokerage at risk of bankruptcy.

The company told customers it could absorb a $1 billion write-down and remain well-capitalized. Investors were unconvinced, pushing E*Trade shares down $5.04 to $3.55 on the Nasdaq, their lowest level since August 2002.

The slide came after E*Trade late Friday withdrew its 2007 earnings forecast, projected further write-downs on a $3 billion asset-backed securities portfolio, and said the U.S. Securities and Exchange Commission had begun an informal inquiry into its loan and securities portfolios.

-cut-

$15 billion of deposits, representing one-half of E*Trade's deposit base and one-fourth of its funding base, lack federal deposit insurance and thus have a "higher risk" of leaving. He said this could result in forced selling of assets supported by these deposits.

http://news.yahoo.com/s/nm/20071112/bs_nm/etrade_shares_dc

They started a brand new campaign last week - something about regular brokers crying and throwing tantrums.

NEW YORK - Blackstone Group LP President and Chief Operating Officer Hamilton James said Monday the slumping private-equity market might not fully rebound until major Wall Street banks get a better handle on the credit crisis.

"The mortgage black hole is worsening...it is deeper, darker, scarier than what the banks originally thought," he told analysts during a conference call. "My sense is they don't have a clear picture of how this will play out, and their confidence is low."

James said the banks — pressured by massive writedowns from losses linked to subprime mortgages — will keep lending standards tight for the time being. He believes the market for leveraged loans, which buyout funds use to finance deals, appears to be picking up after a crippling summer.

Banks like Citigroup Inc. and JPMorgan Chase & Co. are doing a good job in selling an estimated $300 billion of backlogged debt committed to leveraged buyouts, he said. But, James doesn't see most of the subprime mess — and a full rebound in the debt markets — until sometime next year.

Blackstone's third-quarter loss was pinned on charges related to its initial public offering and lower real-estate fees. The buyout shop posted losses of $113.2 million, or 44 cents per share, which included the impact of $802.6 million of non-cash charges for compensation and other items linked to its IPO.

http://news.yahoo.com/s/ap/20071112/ap_on_bi_ge/earns_blackstone

FRANKFURT (Reuters) - Wall Street stock index futures rose before the market opening on Tuesday, suggesting that U.S. equities might be on their way to snap a four-session losing streak, with eyes on earnings from two top retailers.

At 4:55 a.m. EST, the Dow Jones future was 0.5 percent higher, the S&P 500 contract was also up 0.5 percent and Nasdaq up 0.2 percent.

The indicative Dow Jones index (.DJII), which tracks how the Dow stocks are traded in Frankfurt, rose 0.2 percent.

Wal-Mart (WMT.N), the world's largest retailer, and Home Depot (HD.N), the world's largest home-improvement retailer, are among S&P 500 companies scheduled to report quarterly earnings.

"Results from Wal-Mart and Home Depot will be eagerly awaited ... the outlook is what the market will be focusing on," Cantor Index said in a note.

http://news.yahoo.com/s/nm/20071113/bs_nm/markets_stocks_dc

NEW YORK (CNNMoney.com) -- Home Depot, the nation's largest home improvement retailer, said Tuesday earnings fell in the latest quarter due to the downturn in real estate and home building, and it said those factors continue to deteriorate.

Home Depot (Charts, Fortune 500), the nation's No. 2 overall retailer, reported that earnings from continuing operations fell nearly 20 percent to $1.1 billion, or 59 cents a share, from $2.1 billion, or 65 cents a share, in the year-earlier period. Analysts surveyed by earnings tracker Thomson First Call had been looking for the company to earn 60 cents a share.

http://money.cnn.com/2007/11/13/news/companies/home_depot/index.htm?postversion=2007111306

BENTONVILLE, Ark. (AP) -- Wal-Mart Stores Inc., the world's largest retailer, said Tuesday its fiscal 2008 third-quarter earnings grew 8 percent to top Wall Street expectations on strong international growth and improved performance in its U.S. operations.

For the quarter ended Oct. 31, net income grew to $2.86 billion, or 70 cents per share, from $2.65 billion, or 63 cents per share, last year. The latest period includes a gain of a penny per share on the sale of certain real estate properties.

Total revenue, including membership and other income, grew to $91.95 billion from $84.47 billion a year ago. Net aales grew nearly 9 percent to $90.88 billion from $83.54 billion, helped by 16.9 percent international growth and 6.4 percent growth in U.S. Wal-Mart stores.

The results beat consensus estimates of analysts surveyed by Thomson Financial, who expected profit of 67 cents per share on revenue of $91.67 billion.

http://biz.yahoo.com/ap/071113/earns_wal_mart_stores.html?.v=1

is astronomical and gas prices are also up, wouldn't those account for the net increase at Walmart? People are spending more on necessities, but how is the cheap, poisoned, Chinese crap moving?

and going to the "home of lower prices" because they have no other choice.

:donut: :donut: :donut:

Time to teach my 100+ kids. Watch those futures charts. It looks like a slippery downward slope is beginning to form.

Ozy :hi:

AAAAAAHHHHHHHHHH!!!!! :wow:

Love them individually and in small doses, but......

Thank you for your intestinal fortitude. I salute you.


My Favorite Master Artist: Karen Parker GhostWoman Studios

and the horses are at the gate...:eyes:

http://quotes.ino.com/chart/?s=NYBOT_DX&v=i

Last trade 75.732 Change -0.356 (-0.47%)

US Fed: Inflation Very Likely To Prevent A 25bp Cut in December

http://www.dailyfx.com/story/topheadline/US_Fed__Inflation_Very_Likely_1194957401290.html

Many Federal Open Market Committee members have made a point of signaling some hesitance to cut rates again in the near-term, as a weaker US dollar and record high oil prices significantly raise inflation risks in the economy. However, traders appear to be trying to force the bank’s hand as federal fund futures currently price in a 98 percent chance of a 25bp rate cut in December. These markets could get an unwanted surprise if futures continue to price in such policy action but the FOMC actually leaves rate steady. With less than a month until Bernanke & Co. convene again, can they convince the markets that they don’t have to make policy more accomodative?

Ben Bernanke, Federal Reserve Chairman (Voting Member)

“Core inflation has improved modestly, although recent increases in energy prices will likely lead overall inflation to rise for a time.” – November 8, 2007

William Poole, Federal Reserve Bank of St. Louis President (Voting Member)

“It could be that the downdraft from the housing industry will spread to other sectors, which might require that recent rate cuts not be reversed, or even that additional cuts would be in order…The loss of wealth associated with the decline in housing prices, as well as the fact that mortgage payments will absorb a larger portion of disposable income for some consumers, might cause consumption -- the largest component of GDP -- to grow at a significantly slower rate.” – November 8, 2007

Charles Plosser, Federal Reserve Bank of Philadelphia President (Alternate Voting Member)

Told the New York Times that he “would not be surprised” if fourth-quarter growth was 1 percent to 1.5 percent, which he says is “already built into my forecast. The key here is that growth would have to be less than the forecast to cut rates again.” In regards to the October 31st rate cut, he notes, “I happen to think this decision was a close call.” – November 6, 2007

Dennis Lockhart, Federal Reserve Bank of Atlanta President (Non-Voting Member)

“The conventional wisdom is that continued depreciation of the US dollar should have some effect on inflation,” but “the pass-through is not automatic.” – November 8, 2007

...more...

Carry Trades: Are They In for More Losses?

http://www.dailyfx.com/story/bio1/Carry_Trades__Are_They_In_1194906372083.html

Carry Trades: Are They In for More Losses?

With the US bond markets closed for Veterans’ Day, the equity and currency markets were as volatile as ever. Intraday charts show US equities fluctuating in and out of positive territory with the intraday trading range of the Dow reaching as much as 181 points. The Japanese Yen crosses were in the red or negative throughout the US trading session. Today’s extensions of Friday’s losses were not a complete surprise because on Friday we had indicated that with the Dow closing “at its session lows, we expect follow through weakness in the Yen crosses at the open of Tokyo trading on Sunday.” What we didn’t expect however was the degree of the move, which in some cases matched and surpassed that of the moves we saw on Friday. The combination of stronger Japanese economic data and significant weakness in the Asian stock markets appeared to be too much for carry traders to bear. Domestic CGPI and the current account were both better than expected but stronger economic data alone would not have caused today’s move. The Chicago Board Options Exchange Volatility Index (VIX) opened at the highest level since August, when we had a big spike up to 37.50. Carry trades thrive in an environment of low volatility which means that should the VIX continue to rise, and it appears to want to, carry trades could suffer more losses. It is important for Yen traders to not only watch the Dow, but also the VIX. Tonight, we have the Japanese GDP report for the third quarter, which is expected to be firm.

US Dollar Expected to Rebound This Week

Despite the lack of nay US economic data released today, it is already shaping up to be a dollar positive week. Oil prices are lower and gold plummeted as much as $30 an ounce. The main events this week are producer prices, retail sales and consumer prices. Bernanke is also holding a special session on November 14 to announce changes in FOMC communications but this should not be market moving since he is only expected to announce measures to increase the transparency of interest rate decisions such as giving more forecasts and extending their horizon. We continue to believe that the data this week has a greater chance of surprising to the upside. The estimates for October retail sales are low (0.2 percent) because many of the nation’s largest retailers have missed their sales forecasts. However, non-farm payrolls over the past few months have been exceptionally strong and gasoline prices in the month of October remained steady, which means that retail sales could still beat expectations. Also, we expect both producer and consumer prices to surprise to the upside given the rise in food and energy prices. Will this be THE bottom in the US dollar? No. The reason why the Dow and carry trades were so weak today is because the market is still concerned that a large structured investment vehicle has blown up and Deutsche Bank’s predictions of another $400 billion in subprime losses could materialize, which of course is not good news for the US economy.

...more...

http://www.reuters.com/article/marketsNews/idUKT12175220071113?rpc=611

TOKYO, Nov 13 (Reuters) - The United Arab Emirates is at a "crossroads" on the dirham's dollar peg, the oil producer said on Tuesday in the clearest signal yet that the dollar's slide is forcing Gulf Arab authorities to review exchange rate policy.

Any policy shift would be decided by the rulers of the UAE and five other Gulf Arab states that are preparing for monetary union as early as 2010, UAE Central Bank Governor Sultan Nasser al-Suweidi said in Tokyo.

Given the bleak outlook for the dollar and the U.S. economy, the six states could consider tracking a currency basket rather than the greenback, Suweidi said, without making clear whether that could happen before or after monetary union.

/..

http://news.yahoo.com/s/ft/20071113/bs_ft/fto111320070659583267;_ylt=AhlkSEFFZ5MjEi4OD8j0La32ULEF

The yen retreated from an 18-month high against the dollar on Tuesday as comments from the Yasuo Fakuda, the Japanese prime minister, stemmed the sharp appreciation in the Japanese currency over the last two sessions.

The yen had rallied strongly on Monday as rising risk aversion saw investors unwind carry trades, in which low-yielding currencies such as the yen are sold to finance the purchase of riskier, higher-yielding assets elsewhere.

However, Mr Fakuda said the yen, which hit Y109.10 against the dollar on Monday, was appreciating too fast and warned traders and investors not to make speculative moves on the currency.

He also noted that traders and investors should be careful to avoid intervention from the Japanese government.

However, Derek Halpenny at Bank of Tokyo-Mitsubishi UFJ said while Mr Fukuda's comments might temper yen gains, the move was likely to prove temporary.

Mr Halpenny said although Mr Fukuda suggested the threat of intervention, he also stated that there would be no rejection of a long-term trend of yen appreciation.

"This aspect of Mr Fukuda's comments may well become more significant in time if the dollar/yen rate moves lower and eventually threatens the key Y100 level," he said.

"If these comments on accepting a long-term trend of yen strength are true then it may well result in the current administration allowing the yen to strengthen beyond the Y100.00 level."

Nevertheless, the yen fell 0.7 per cent to Y110.20 against the dollar, lost 1 per cent to Y160.64 against the euro and fell 1.4 per cent to Y228.05 against the pound.

Meanwhile the yen fell more sharply against the higher-yielding Australian and New Zealand dollar, dropping 2.5 per cent to Y98.27 and 2.4 per cent to Y83.43 respectively.

Elsewhere, the dollar lost ground after comments from Sultan Nasser al-Suweidi, governor of the central bank of the United Arab Emirates, who said although the UAE dirham's peg to the dollar had served the country well in the past, they were now at a "crossroads" due to the recent weakness in the US currency.

Analysts said the comments heightened speculation that other Gulf states, such as Saudi Arabia, which tie their currencies to the dollar might be considering to abandon their currencies' pegs.

Russell Jones at RBC Capital Markets said the inflationary costs of Gulf states pegging their currency to the dollar outweighed the benefits given that the booming region was so far out of step with the declining US business cycle.

"The longer they delay abandoning their pegs, the more painful it will be," he said. "If the dollar falls another 5 to 10 per cent, they will be forced into action.

The dollar fell 0.3 per cent to $1.4580 against the euro, eased 0.1 per cent to SFr1.1275 against the Swiss franc and dropped 0.7 per cent to $2.0690 against the pound.

/...

Man. We're in for some nasty times. Remember all those people who formerly came to the stock market watch thread to tell everyone that the sinking dollar was just hunky-dory for the U.S. economy?? Where in the hell are they NOW??? Hmmm?

:kick:

Created by the faaaaaaabulous job market.Want fries with that?

:rofl: Yep. That's where they are.

:donut: and lurkers. I have to ask???? Who on this thread were proponents for a weak dollar? I know that a too strong dollar is bad for exported goods but you want to strike a balance. There are some advantages of being a currency of choice. If things continue on this path-they will need to sell a kid or kidney to fill up those hummers.

Well, I did something yesterday that I have never done before-I went to the Veteran's Dinner at the Golden Corral. And you know what...I'm glad I did. It was worth it, but not just for the meal. There were Vets from every branch and every war. The new Iraqi Vet received applause from the old timers. There were well heeled Vets and there were homeless Vets and ever thing in between seated together. Some had their families with them, some didn't but it didn't matter because no one sat by themselves. There were handicapped Vets that were given first seatings and salutes and pats on the back. It was loud, it was crazy, but it was so much fun. Friends that hadn't seen each other in years chanced to meet and shared warm hugs, photos, and jokes. Every one had a full plate-of what ever stuck their fancy. I couldn't but think that this must be as close to heaven as one can get on earth.

I was the youngest Vet at the table. I had a Korean War Vet that served on an air ship and he has 2 sons in the Navy now and is concerned about them being called to Iraq. I had a woman and her husband with her. She was a 20 yr Air National Guard Vet. She had married hubby after she got out. She had been all over the US.

I couldn't help but think how much this must cost and I truly hope that they continue the program... it was a great chance to share food and fellowship with folks that understand what it is all about....

Happy hunting and watch out for the bears.

http://news.yahoo.com/s/nm/20071113/bs_nm/countrywide_mortgages_dc_1

NEW YORK (Reuters) - Countrywide Financial Corp (CFC.N), the largest U.S. mortgage lender, on Tuesday said it funded 48 percent fewer mortgages in October than a year earlier, and significantly reduced some of the riskier home loans that prompted its recent financial troubles.

The lender said it funded $22 billion of home loans in October, down from $41.9 billion a year earlier, but up 4 percent from September. Adjustable-rate loan volume fell 81 percent from a year earlier to $3.1 billion, while subprime loan volume totaled just $42 million, down from $3.3 billion.

Chief Operating Officer David Sambol said Countrywide "continues to work diligently toward mitigating the consequences our borrowers are facing as a result of the current market conditions."

(Reporting by Jonathan Stempel; Editing by Gerald E. McCormick

http://www.reuters.com/article/marketsNews/idUKL135378320071113?rpc=44&pageNumber=1
Tue Nov 13, 2007 4:18am EST

LONDON, Nov 13 (Reuters) - Nervous investors sold stocks and generally deserted the dollar on Tuesday, still gripped by lingering worries over the global financial impact of the slumping U.S. housing market.

European, Japanese and previously high-flying emerging market stocks all fell although the price of oil, which has been causing concern as a threat to economic growth, eased.

Gold <XAU=> bounced back to around $801 an ounce after earlier slipping as low as $790.80.

Investors have been pulling money out of riskier assets this month as the U.S. economy slows and the fall out from the credit crisis continues.

UBS said risk aversion among equity investors had turned "extreme", according to its in-house gauge, hitting levels not seen for two months.

The investment bank's latest risk report also showed growing risk avoidance among fixed income investors and on foreign exchange markets.

/...

http://www.bloomberg.com/apps/news?pid=20601080&sid=ajgzxC7YQJTE&refer=asia

Nov. 13 (Bloomberg) -- Asian stocks rose for the first time in four days, led by Aiful Corp., after consumer spending unexpectedly climbed in Japan and investors judged that recent declines were excessive.

Aiful Corp., Japan's biggest lender to individuals, rose 1.3 percent and Australia & New Zealand Banking Group Ltd. climbed from a three-month low. PetroChina Co., the world's largest company by market value, slid to a five-week low after crude oil and metal prices declined.

``The market has sold off excessively and we are looking for buying opportunities,'' said Leslie Phang, who helps manage $1 billion at Commonwealth Private Bank in Singapore. ``The question is will the slowing economy derail demand for commodities? Current price levels are not sustainable.''

The Morgan Stanley Capital International Asia Pacific Index added 0.1 percent to 158.49 as of 6:52 p.m. in Tokyo, after a three-day, 5.4 percent slump. A measure of financial shares climbed the most among the benchmark's 10 industry groups.

Japan's Nikkei 225 Stock Average slid 0.5 percent to 15,126.63, its eighth straight loss. The measure earlier gained as much as 0.3 percent after the Cabinet Office said the economy expanded an annualized 2.6 percent in the quarter ended Sept. 30.

/...

http://www.bloomberg.com/apps/news?pid=20601089&sid=amGKd.yk1H.o&refer=china

Nov. 13 (Bloomberg) -- China's key stock index fell to a three-month low. China Minsheng Banking Corp. led declines after inflation accelerated to a decade-high last month, increasing concern the central bank will raise interest rates.

``Banking and property stocks bore the brunt of the news, which will hurt both sectors,'' said Yan Ji, an investment manager at HSBC Jintrust Fund Management Co. in Shanghai. ``Another rate increase seems to be very likely.''

China Petroleum & Chemical Corp. and PetroChina Co. gained after a report said the government raised prices of natural gas.

The CSI 300 Index, which tracks yuan-denominated A shares listed on China's two exchanges, lost 39.01, or 0.8 percent, to 4,939.24 at the close, after gaining as much as 2.1 percent earlier. The benchmark, which has fallen on seven of the past eight trading days, closed at the lowest since Aug. 20.

/...

http://news.yahoo.com/s/ft/20071113/bs_ft/fto111320070200263225;_ylt=AkKiMuewdTHtuRc3yN5qAU72ULEF

The consumer price index rose 6.5 per cent in October from a year earlier, matching August's 11-year high, after a brief reprieve in September when inflation dropped to 6.2 per cent.

In a sign of how seriously the government regards inflation, state media reported a stage-managed visit to low-income Beijing families by Premier Wen Jiabao on Monday, during which he vowed to bring rising prices under control.

He blamed global oil and food price increases and said the government would ensure price stability. "We have methods to ensure supply, we will take many different measures to stabilise prices," a report on the central government Web site quoted Mr Wen as saying.

China has a history of relatively mild price increases spiralling into double-digit inflation.

Food prices rose 17.9 per cent in October from a year earlier, with pork up 54.9 per cent, fresh vegetables rising 29.9 per cent, and eggs up 14.3 per cent.

Non-food inflation was 1.1 per cent, affected by the government's decision to raise tightly controlled pump prices for petrol, diesel and jet fuel by 10 per cent in late October.

/...

http://www.reuters.com/article/marketsNews/idINHKG8998220071113?rpc=611

HONG KONG, Nov 13 (Reuters) - Hong Kong stocks rebounded on
Tuesday, having earlier tapped near six-week lows, as shares in
the city's property developers found support in last week's rate
cuts by local lenders.

But falling commodity prices weighed, pushing down shares in
resource plays such as Zijin Mining (2899.HK: Quote, Profile, Research) which plunged 11.3
percent to HK$10.26.

Two new issues debuted to different drumbeats, with mainland
property play Zhong An Real Estate Ltd (0672.HK: Quote, Profile, Research) fizzling on
worries that Beijing may further tighten credit after China said
its annual consumer inflation rate rose 6.5 percent in October
.

But Chinese power company GCL-Poly Energy Holdings Ltd
(3800.HK: Quote, Profile, Research) gained as much as 36 percent in its first day of trade.

The market swung in and out of positive territory, breaching
its 50-day moving average, prompted by futures selling. It hit
its lowest level in nearly six weeks at 26,952.94 before
rebounding decisively. Many analysts now see the next stop
anywhere from 24,000 to 26,000 points.

"I would not be surprised if we go to 24,000," said Linus
Yip, strategist at First Shanghai Securities.

/...

http://www.reuters.com/article/marketsNews/idUKT9890720071113?rpc=611

TOKYO, Nov 13 (Reuters) - Japan's economy grew faster than expected in the third quarter, but the Bank of Japan kept interest rates on hold in the face of market turmoil that has sent both stocks and the dollar sliding.

Bank of Japan Governor Toshihiko Fukui, speaking after the BOJ kept its key policy rate unchanged at 0.5 percent for a ninth month on Tuesday, said the GDP figures reinforced the central bank's forecast for moderate growth but he added it was watching to see if global markets and the U.S. economy worsen more than expected.

The 0.6 percent growth reported for July-September, on the back of strong exports and capital spending, meant Japan averted a recession, but it did not change market expectations that the BOJ will keep rates on hold until well into next year.

"With markets so volatile and uncertainty so high, Fukui had little choice but to make cautious remarks about the outlook for Japan's economy. There's no need for him to make hawkish comments now when markets are very unstable," said Yasuhiro Onakado, chief economist at Daiwa SB Investments.

Market players now see just a 40 percent chance of the BOJ raising rates by March, swap contracts on the overnight call rate <JPONIBOJ=TRDT> show, down from 55 percent at times last week.

Financial markets, focusing more on the global economic outlook and recent tumbles in U.S. stocks, showed limited reaction to the BOJ's decision, Fukui's comments and the growth figures for the world's second-largest economy.

/...

http://news.yahoo.com/s/afp/20071113/bs_afp/stocksworld_071113114751;_ylt=Ak09QslUULcbIHx8.ag9.uOmOrgF

LONDON (AFP) - European stocks dropped Tuesday in the wake of further losses in Asia and on Wall Street overnight caused by fears of more bad news from banks exposed to the US credit crisis, dealers said.

In morning trade, London's FTSE 100 index of leading companies fell 0.33 percent to 6,317.30 points.

Frankfurt's DAX 30 lost 0.50 percent to 7,767.97 points and in Paris the CAC 40 shed 0.26 percent to reach 5,521.34.

The European single currency stood at 1.4576 dollars.

"The market is not out of the woods yet," said Alex Tang, head of research at Core Pacific Yamaichi. "Sentiment is deteriorating because of the subprime crisis."

...

Elsewhere in Asia, Singapore share prices closed down 1.02 percent and Thai stocks finished the day 0.50-percent lower

"Sentiment is still a little shaky," said Song Seng Wun, research head at CIMB-GK securities. "The Singapore market is taking its cue from the relatively soft overnight Wall Street performance."

It wasn't all bad news across Asia, however, with Hong Kong share prices closing up 0.5 percent as property developers drew interest on hopes that housing sales will get a boost from lower interest rates, dealers said.

Indian stocks meanwhile rose 1.59 percent to break six straight days of declines as investors sought bargains among blue-chip companies.

/...

http://news.yahoo.com/s/ap/20071113/ap_on_bi_ge/germany_economy;_ylt=AjTQWZ.m8elEETtT9hI0UbayBhIF

BERLIN - German investor confidence has sunk to its lowest level for more than 14 years as the subprime lending crisis fuels expectations of a "considerable economic downturn" in the United States, a closely watched survey showed Tuesday.

The ZEW institute's index, which measures investors' economic expectations for the next six months, fell to minus 32.5 points in November from minus 18.1 points last month.

That was well below the minus 20 points forecast by economists surveyed by Dow Jones Newswires, and the lowest level since February 1993.

"Owing to the continuously extending subprime crisis, the financial market experts have readjusted their economic expectations," ZEW said in a statement.

"They particularly expect a considerable economic downturn in the United States," it added. "The weak U.S. dollar has made business conditions for German exporting firms more difficult. Further risks arise from the high oil price and the development of consumer prices."

/...

http://www.spiegel.de/international/business/0,1518,517139,00.html

The true scope of the debacle will likely become apparent only after annual financial statements are published next spring. Quarterly statements are an imperfect indicator, because they enable banks to defer their losses relatively unnoticed.

One of the results of the dismal news is that, after weeks of rising prices, the US's leading stock market index, the Dow Jones, took a sharp downward turn in recent days. The central banks' efforts to improve the situation by increasing liquidity and lowering interest rates have evaporated like drops of water on a hot stone. Fear and suspicion are the prevailing sentiments on the world's stock markets. A banker in Frankfurt predicts: "We are just at the beginning of the second tsunami wave."

Its effects will likely extend beyond the banking sector. AIG, America's largest insurance group, is already reporting a 27-percent loss for the third quarter. In addition to the now notorious high-risk subprime mortgages, financial worries in the United States are now also being stoked by concern over subprime credit cards and subprime auto loans. For consumers unable to pay their mortgages, the monthly credit card bill or the car loan are also likely to present a problem.

With the price of oil close to the $100 mark and the dollar in a nosedive, the outlook for the US economy -- and the world economy -- is becoming increasingly bleak.

In a hearing before the US Congress last Thursday, Federal Reserve Chairman Ben Bernanke warned lawmakers of the consequences of the crisis: higher inflation, declining consumer spending and lower growth rates. On the same day, Bernanke's counterpart in the European Union, European Central Bank President Jean-Claude Trichet, expressed concern over what he called the "brutal moves" in the euro-dollar exchange rate.

To make matters worse, the banks' mortgage problem is developing into a crisis of confidence reminiscent of the collapse of the scandal-plagued US corporations Enron and WorldCom. The first investor lawsuit has already been filed, and the US market watchdog, the Securities and Exchange Commission (SEC), is taking a closer look at questionable accounting practices. New York Attorney General Andrew Cuomo has also launched his own investigations.

/...

(ed. cf. also here: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x2271780 )

Index Last Change % change
• DJIA 13168.33 +180.78 +1.39%
• NASDAQ 2638.52 +54.39 +2.10%
• S&P 500 1460.54 +21.36 +1.48%

(Mind the thorns...)

watch out for those pricks:rofl:

Highlights

Current:



30-day and 90-day vs.greenback:



30-day vs. Euro, Yen, UK Pound and Swiss Franc




Currency Comparison: http://members.shaw.ca/trogl/looniewatch.html

Detailed analysis: http://quotes.ino.com/exchanges/?r=CME_CD

Up-to-the-minute graph: http://quotes.ino.com/chart/?s=CME_CD.Y%24%24&v=s&w=5&t=l&a=1

Historical values http://www.x-rates.com/d/USD/CAD/data30.html

2007-10-02 Tuesday, October 2 0.9998 USD
2007-10-03 Wednesday, October 3 1.00392 USD
2007-10-04 Thursday, October 4 1.002 USD
2007-10-05 Friday, October 5 1.01885 USD
2007-10-08 Monday, October 8 1.01885 USD
2007-10-09 Tuesday, October 9 1.01564 USD
2007-10-10 Wednesday, October 10 1.01906 USD
2007-10-11 Thursday, October 11 1.02627 USD
2007-10-12 Friday, October 12 1.02701 USD
2007-10-15 Monday, October 15 1.02501 USD
2007-10-16 Tuesday, October 16 1.0227 USD
2007-10-17 Wednesday, October 17 1.02712 USD
2007-10-18 Thursday, October 18 1.02743 USD
2007-10-19 Friday, October 19 1.03767 USD
2007-10-22 Monday, October 22 1.01926 USD
2007-10-23 Tuesday, October 23 1.03381 USD
2007-10-24 Wednesday, October 24 1.02987 USD
2007-10-25 Thursday, October 25 1.03381 USD
2007-10-26 Friday, October 26 1.03961 USD
2007-10-29 Monday, October 29 1.04745 USD
2007-10-30 Tuesday, October 30 1.04888 USD
2007-10-31 Wednesday, October 31 1.05307 USD
2007-11-01 Thursday, November 1 1.05296 USD
2007-11-02 Friday, November 2 1.06838 USD
2007-11-05 Monday, November 5 1.07101 USD
2007-11-06 Tuesday, November 6 1.0819 USD
2007-11-07 Wednesday, November 7 1.09075 USD
2007-11-08 Thursday, November 8 1.07492 USD
2007-11-09 Friday, November 9 1.06553 USD
2007-11-12 Monday, November 12 1.06553 USD

Current values

http://quotes.ino.com/exchanges/?r=CME_CD)

Market            Open   High    Low   Last  Change    Pct 
CD.Y$$ Cash     1.0490 1.0490 1.0384 1.0384 +0.0013 +0.13% 
CD.Z07 Dec 2007 1.0467 1.0475 1.0365 1.0385 +0.0018 +0.17% 
CD.H08 Mar 2008 1.0473 1.0473 1.0376 1.0378 +0.0013 +0.13% 
CD.M08 Jun 2008 1.0799 1.0810 1.0690 1.0362 -0.0281 -2.71% 
CD.U08 Sep 2008 1.0380 1.0380 1.0380 1.0380 +0.0023 +0.22% 
CD.Z08 Dec 2008 1.0387 1.0395 1.0387 1.0387 +0.0035 +0.34% 
CD.H09 Mar 2009 1.0927 1.0927 1.0927 1.0347 -0.0281 -2.72% 
 

Other combinations: (http://quotes.ino.com/exchanges/?c=currencies)

Market              Open    High     Low    Last   Change     Pct 
AUSTRALIAN $/CANADIAN $ (NYBOT:AS)
ACD.Z07 Dec 2007 0.8507 0.8507 0.8507 0.8507 -0.0055 -0.65%  
AUSTRALIAN $/US$ (NYBOT:AU)
AU.Z07 Dec 2007 0.8818 0.8818 0.8818 0.8818 -0.0298 -3.38%  
CANADIAN $/JAPANESE YEN (NYBOT:HY)
HY.Z07 Dec 2007 124.260 124.260 123.520 113.790 -3.675 -3.23%  
EURO/AUSTRALIAN $ (NYBOT:RA)
RA.Z07 Dec 2007 1.60300 1.60300 1.60300 1.65125 +0.04120 +2.50%  
EURO/BRITISH POUND (NYBOT:GB)
GB.Z07 Dec 2007 0.7076 0.7076 0.7052 0.7052 -0.0010 -0.14%   
EURO/CANADIAN $ (NYBOT:EP)
EP.Z07 Dec 2007 1.39720 1.39720 1.39720 1.39720 +0.00195 +0.14%  
EURO/JAPANESE YEN (NYBOT:EJ)
EJ.Z07 Dec 2007 160.650 160.700 159.860 160.610 +1.825 +1.15%   
EURO/US$ (LARGE) (NYBOT:EU)
EU.Z07 Dec 2007 1.44620 1.46620 1.44620 1.45615 -0.01155 -0.79%  

Blather (from http://quotes.ino.com/exchanges/?r=CME_CD)

The December Canadian Dollar was lower overnight as it extends Monday's decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off last week's high, the 20-day moving average crossing at 104.78 is the next downside target. Closes below the 20-day moving average are needed to confirm that a short-term top has been posted. Closes above Monday's gap crossing at 108.32 would temper the near-term bearish outlook in the market. First resistance is Monday's gap crossing at 108.32. Second resistance is last Friday's high crossing at 110.09 First support is the overnight low crossing at 103.67. Second support is the 20-day moving average crossing at 104.78.

Analysis

Yeah, the morning drive-in guy said there was a major drop, but I'm not too upset - it's simply too high for its own good. I'm calling for parity against the greenback as it was last Friday and/or to track against the other Commonwealth currencies.

JOHN Hofmeister has gotten his share of letters from customers who are angry about high gasoline prices.

But in March of last year, the president of Houston-based Shell Oil Co. received a piece of hate mail that startled even him — it contained no note, just a hand-drawn image of the executive hanging from a tree.

That letter is part of the reason Hofmeister has spent the past year crisscrossing the nation, trying to engage regular Americans and opinion leaders in what he calls a dialogue on energy issues.

The goal was to create better understanding of the economic and political factors that have driven energy prices to record highs in recent years and, with any luck, to move beyond animosity directed toward the oil industry.

http://www.chron.com/disp/story.mpl/business/5296481.html

Having been in the biz, I know how hard it really can be-but I think they are having to over come their history-which is not good.

Even though this is from Fortune/CNN/Money, it's a pretty good summary of how the subprime crisis came to be:

http://money.cnn.com/magazines/fortune/fortune_archive/2007/11/26/101232838/index.htm

(Fortune Magazine) -- Two things stand out about the credit crisis cascading through Wall Street: It is both totally shocking and utterly predictable.

Shocking, because a pack of the highest-paid executives on the planet, lauded as the best minds in business and backed by cadres of math whizzes and computer geeks, managed to lose tens of billions of dollars on exotic instruments built on the shaky foundation of subprime mortgages.

Predictable because whether it's junk bonds or tech stocks or emerging-market debt, Wall Street always rides a wave until it crashes. As the fees roll in, one firm after another abandons itself to the lure of easy money, then hands back, in a sudden, unforeseen spasm, a big chunk of the profits it booked in good times.

The crisis of confidence has exploded beyond Wall Street, driving the dollar to record lows - and helping send the prices of commodities, especially oil, soaring to historic highs.

The results could be devastating for the U.S. economy. "The subprime crisis and its fallout on commodity and foreign-exchange markets significantly raises the odds of a recession early next year," says Mark Zandi, chief economist at Moody's Economy.com.

And it's far from over. As stunning as today's losses are, more carnage lies ahead. Wall Street banks are holding tens of billions in risky securities on their books, and no one seems to have any idea what they're worth. In conference calls and press releases, banks have been changing their estimates of the value of these assets.

HARRISBURG, PA. — The charitable trust that controls Hershey Co. is flexing its muscle by overhauling the board of the nation's biggest candy maker, mired in a yearlong slump.

Analysts said that, with The Hershey Trust committed to remaining Hershey's largest shareholder, a sale of Hershey appears even less likely.

But they also said they expected the trust will demand better performance from the company.

The Hershey Trust asked six directors to resign, while two others volunteered to leave, the company said Sunday.

more....


http://www.chron.com/disp/story.mpl/business/5296289.html

Looks like Schweppes isn't the only one that has bitters ;)

http://new.quote.com/news/story.action?id=RTT711131459003000

I don't see any credit crisis, do you? There no credit crisis around here. Lalalalalalalalala...

- increasingly strong aroma of slightly-not-so-fresh fish - don't you reckon?

I mean: did you notice that STINK?

Phaouw.

This is bizarre.

:)

Dow 13,307.09 319.54 (2.46%)
Nasdaq 2,673.65 89.52 (3.46%)
S&P 500 1,481.05 41.87 (2.91%)
10-Yr Bond 4.256% 0.045

NYSE Volume 4,159,521,000
Nasdaq Volume 2,748,514,500

4:25 pm : After four straight days of losses, the stock market came roaring back on Tuesday. Falling oil prices, a favorable earnings outlook from Wal-Mart (WMT 45.97, +2.65), and reassuring comments on subprime exposure from several financial firms at the Merrill Lynch Financial Conference provided the fuel for the rally that was helped along by short-covering activity and a sense the market had gotten oversold.

Recall that it was last Wednesday when the S&P 500 dropped 45 points in a session where virtually nothing worked from a stock standpoint. Today the complete opposite held true as virtually everything worked from a stock standpoint.

Providing today's leadership were the financial (+4.9%) and technology (+4.0%) sectors, which drew significant bargain hunting interest. E*Trade Financial (ETFC 5.00, +1.45), which plummeted nearly 60% on Monday, surged 40% on Tuesday; meanwhile, Apple (AAPL 169.96, +16.20), which had fallen 20% in the last four sessions, jumped 11% on reports China Mobile is in talks to sell the company's iPhone.

Goldman Sachs (GS 233.04, +18.33) played a large role in the financial sector rally when it said again at the Merrill Lynch Conference that it won't be announcing a write-down. Separately, JPMorgan Chase (JPM 45.05, +2.66) CEO, Jamie Dimon, said at the same conference that he thinks his bank is "fine" on CDO and subprime exposure and that he doesn't think the subprime problem is a big deal for the U.S. economy.

The investment banking group soared 6.8% and was the best-performing industry group in the trading session.

From a sector standpoint, the laggard today was utilities (+0.7%), but that is understandable given its defensive orientation. To this point, the consumer staples (+1.9%) and health care (+1.4%) sectors also trailed the broader market. Nonetheless, their gains were still significant and reflected the broad-based buying interest.

Wal-Mart was among the leading stocks in the Dow, as it received a handsome boost after topping third quarter EPS expectations by two cents and providing a fiscal 2008 EPS forecast that was ahead of the market's expectations.

The retailer's good news launched a rally in the retail stocks that have been among the market's hardest hit issues in the recent pullback that saw the S&P 500 drop nearly 9.0% from its Oct. 11 high. Even Home Depot (HD 29.12, +0.66) caught a bid after missing the third quarter consensus EPS estimate by a penny and warning earnings from continuing operations, on a 52-week basis, will decline as much as 11%.

The run on retailers was helped along by another sharp sell-off in oil prices, which fell 3.7% to $91.17 per barrel after the IEA reduced its global demand forecast for 2008. Oil prices are now down 8.0% from the high they hit last Wednesday.

The move in oil prices didn't hurt the energy sector, which gained 2.3%.

It should also be noted that the market extended its gains in the final half-hour, helped by a better-than-expected pending home sales report that showed a 0.2% increase for September versus an expectation for a 2.0% decline, and closed at its highs for the day. This action is a reversal of the activity in the past two sessions in which the market sold off in the final half-hour and closed at its lows.

With stocks in rally-mode, the Treasury market was on the defensive. The 10-year note dropped 13 ticks, raising its yield to a still-low 4.26%.

DJ30 +319.54 NASDAQ +89.52 SP500 +41.87 NASDAQ Dec/Adv/Vol 867/2158/2.71 bln NYSE Dec/Adv/Vol 592/2710/1.65 bln

3:30 pm : The stock market gets a pop following the better-than-expected pending home sales data. The financial sector is now up an impressive 4.4% and the tech sector is up 3.5%. If the market holds onto its gains, it will be the first positive finish in four days.

The only Dow components in the red are DuPont (DD 46.03, -0.37) and Altria (MO 72.38, -0.09). IBM (IBM 105.19, +3.74) and JPMorgan (JPM 45.20, 2.81) are providing leadership.

Tomorrow before the open brings the potentially market-moving October Retail Sales and Sales ex-auto, and October total and core PPI. Earnings season is winding down, with 22 companies reporting by tomorrow's open.DJ30 +276.54 NASDAQ +77.06 SP500 +34.82 NASDAQ Dec/Adv/Vol 937/2071/2.12 bln NYSE Dec/Adv/Vol 677/2587/1.15 bln

3:00 pm : Just reported, the National Association of Realtors Pending Home Sales Index for September grew by 0.2%. A decline of 2.5% was expected.

The major indices continue to extend their gains in impressive fashion following a broad-based increase in buying interest. Meanwhile, the Treasury market is seeing an increase in selling interest this session.

In currency trading, the dollar index is down 0.06% on the heels of yesterday's gain of nearly 1%. DJ30 +236.47 NASDAQ +65.29 SP500 +29.25 NASDAQ Dec/Adv/Vol 997/1978/1.88 bln NYSE Dec/Adv/Vol 773/2476/1.04 bln