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8:30 AM ET


4-Week Bill Auction
11:30 AM ET


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Treasury Budget
2:00 PM ET

Estan pasando por la television Americana el rescate de los Chilenos (varios canales)

Miercoles

Eventos economicos

Reportan Google, J.P. Morgan

JPM reporta antes de la apertura

Precios de los importadores a las 8:30 a.m., se espera una caida de precios del orden del 0.2%

Google reporta despues del cierre.

A las 4:10 habla Bernanke en Pittsburgh.

On Deck Wednesday: Google, J.P. Morgan Earnings.

By Matt Phillips

Associated Press

Before the open — J.P. Morgan Chase reports earnings.
8:30 a.m. — U.S. import and export price data for September arrives, import prices are expected to decline 0.2%.
After the market close — Google reports earnings.
4:10 p.m. — Bernanke speaks in Pittsburgh.

Los costos de la deuda Griega bajan.

Los futures del Dow Jones 22 puntos al alza.

Australia +0.56%, El Hang Seng +0.47%, el Nikkei +0.8%, Korea +0.25%, el Shanghai C. +0.06%

Yen up 81.87.

Euro up 1.3956

Yields up 2.42%

Buenas noticias de Japon. Las ordenes de maquinarias subieron 10.1%

Las exportaciones de China aumentaron el 25.1% en Setiembre, su trade surplus fue de $16.9 billones. Las importaciones subieron 24.1%



China Has $16.9 Billion Trade Surplus After Exports Rise 25% in September
By Bloomberg News - Oct 12, 2010 10:30 PM ET

China’s exports rose 25.1 percent in September from a year earlier as imports climbed 24.1 percent, leaving a trade surplus of $16.88 billion. Photographer: Thomas Lee/Bloomberg

Zhou Xiaochuan, governor of the People's Bank of China (PBOC). Photographer: Andrew Harrer/Bloomberg

China’s exports rose 25.1 percent in September from a year earlier as imports climbed 24.1 percent, leaving a trade surplus of $16.88 billion. Photographer: Thomas Lee/Bloomberg
China, the world’s biggest exporter, posted a $16.9 billion trade surplus for September, capping the largest quarterly excess since the financial crisis in 2008 as pressure mounts for a stronger yuan.

Exports rose 25.1 percent from a year earlier and imports climbed 24.1 percent, the customs bureau said on its website today. The surplus compares with the $17.8 billion median estimate of 24 economists surveyed by Bloomberg News. In August, the excess was $20 billion.

European and U.S. officials argue that a stronger Chinese currency would aid the global recovery by stoking demand within the nation and reducing international economic imbalances. Yuan forwards surged to the highest level in more than two years this week on speculation that Premier Wen Jiabao’s government will yield to foreign pressure.

“As the trade surplus remains elevated, China may allow the yuan to appreciate faster on worsening trade tensions,” said Lu Ting, a Hong Kong-based economist at Bank of America- Merrill Lynch, before today’s release. A slowdown in year-on- year export growth is partly due to “an abnormally high comparison base,” Lu said.

Imports rose to a record value of $128.1 billion, limiting the surplus to the smallest in five months, while exports were $145 billion. The quarterly trade excess was about $65.6 billion.

The export increase was less than the median estimate in a Bloomberg News survey for a 26 percent gain, and compared with a 34.4 percent jump in August. Import growth was less than the median forecast for a 25 percent advance following a 35.2 percent climb in August.

Global Demand

“China’s surplus may gradually narrow as the nation’s sustained growth momentum boosts imports and external demand wanes amid a slowdown in developed economies,” said Dariusz Kowalczyk, a Hong Kong-based economist and strategist at Credit Agricole, before today’s release. Kowalczyk said smaller surpluses as a proportion of gross domestic product imply slower gains in the yuan.

The U.S. Senate will consider legislation that would allow duties to be imposed on Chinese imports because of the nation’s failure to allow bigger currency gains, according to Senator Charles Schumer of New York.

The yuan has gained more than 2 percent since the government in June stopped pegging the currency to the greenback after almost two years. Non-deliverable yuan forwards traded at 6.4514 per dollar in Hong Kong as of 8:25 a.m. today, before the data were released, suggesting a gain of a further 3 percent in the next 12 months.

Currency Devaluations

Debate about competitive devaluations dominated International Monetary Fund meetings last week. U.S. Treasury Secretary Timothy F. Geithner renewed his call for China to let its currency rise and Luxembourg Prime Minister Jean-Claude Juncker, who chairs a panel of euro-area finance ministers, said the yuan is “more than undervalued.”

In contrast, Chinese central bank Governor Zhou Xiaochuan said his nation needs to avoid the “shock therapy” of excessive yuan appreciation and “very fast” gains probably wouldn’t end global economic imbalances. Appreciation of 20 percent to 40 percent would exacerbate Chinese unemployment and cause social upheaval, according to Premier Wen.

China’s economy has rebounded from the global recession, with the Shanghai Composite Index yesterday entering a so-called bull market, rising 20 percent from a July low. The measure remains down for 2010.

Investors and companies are paying a record premium to obtain yuan in Hong Kong’s offshore market, taking advantage of looser restrictions to stock up on a currency appreciating at the fastest pace in five years.

‘Be Patient’

The yuan in Hong Kong closed yesterday at 6.5400 per dollar, 2 percent more than the 6.6734 spot rate in Shanghai, according to data compiled by Bloomberg.

The world “has to be patient” at the pace of yuan gains, Michael Pettis, a finance professor at Peking University, wrote in a commentary published by Bloomberg News yesterday.

“Ideally, China should spend the next eight to 10 years slowly raising the value of the yuan while boosting wages and interest rates, and limiting credit growth,” Pettis said. “It can’t do any of these things too quickly without undermining growth and causing unemployment to surge.”

--Li Yanping. With assistance from Jay Wang in Singapore. Editors: Paul Panckhurst

JPM espectacular!!
Utilidades de $4.42 billones

1.01 vs.0.90 EPS

Reduce reservas por malos prestamos en %1.5 billones en el Q3

Cap Ratio up 11.9%

Ventas $24.34 vs $24.63 billones, un poco mas bajo a lo esperado

Las acciones 0.87% al alza

Los futures del Dow Jones 67 puntos al alza.

Oil up 82.66

Au up 1,358.1, Ag up 23.53, futures cu up 3.81%

Yields up 2.45%

Libor igual 0.29%

Europa al alza, el Asiac erro al alza.

Oil up 82.70

+71

Los resultados de Intel tambien fabulosos asi que son dos pesos pesados que nos deben ayudar a tener un dia al alza.

Copper October 13,07:19
Bid/Ask 3.7962 - 3.7970
Change +0.0218 +0.58%
Low/High 3.7731 - 3.8150
Charts

Nickel October 13,07:19
Bid/Ask 10.9357 - 10.9583
Change +0.0894 +0.82%
Low/High 10.8009 - 11.0636
Charts

Aluminum October 13,07:19
Bid/Ask 1.0814 - 1.0822
Change +0.0027 +0.25%
Low/High 1.0749 - 1.0869
Charts

Zinc October 13,07:19
Bid/Ask 1.0778 - 1.0782
Change +0.0136 +1.28%
Low/High 1.0565 - 1.0835
Charts

Lead October 13,07:19
Bid/Ask 1.0842 - 1.0851
Change +0.0272 +2.57%
Low/High 1.0538 - 1.0940
Charts

JPM contratara 10,000 empleados este anio.

Potash volvio a rechazar la propuesta de BHP Billiton

Geithner dice que China es la causa de todas las intervenciones de los gobierno sen sus divisas.

Le bajan el rating a MGM

Euro up 1.3969, yen up 81.81

+66