Lunes Columbus Day 11/10/10 (feriado, mercado abierto)

[admin]

El mercado estara abierto hoy dia

No hay indicadores economicos para el Lunes.

Entre los indicadores mas importantes de la semana tenemos el optimismo de los pequenios negocios y las minutas del Fed el Martes, los precios de los importadores y exportadores y presupuesto del Tesoro el Miercoles, Comercio Internacional, PPI (precios de los importadores), seguros de desempleo el Jueves, CPI (precio de los consumidores), Ventas Retail, actividad economica en NY (Empire State Mfg. Survey), sentimiento del consumidor e inventarios de negocios y ventas retail el Viernes.


US Holiday: Columbus Day

Stocks and Futures Markets Open


Market Focus »


International Perspective »


Simply Economics »



NFIB Small Business Optimism Index
7:30 AM ET


ICSC-Goldman Store Sales
7:45 AM ET


Redbook
8:55 AM ET


4-Week Bill Announcement
11:00 AM ET


3-Month Bill Auction
11:30 AM ET


6-Month Bill Auction
11:30 AM ET


3-Yr Note Auction
1:00 PM ET


FOMC Minutes
2:00 PM ET


MBA Purchase Applications
7:00 AM ET


Import and Export Prices
8:30 AM ET


4-Week Bill Auction
11:30 AM ET


10-Yr Note Auction
1:00 PM ET


Treasury Budget
2:00 PM ET

Weekly Bill Settlement


International Trade
8:30 AM ET


Producer Price Index
8:30 AM ET


Jobless Claims
8:30 AM ET


EIA Natural Gas Report
10:30 AM ET


EIA Petroleum Status Report
11:00 AM ET


3-Month Bill Announcement
11:00 AM ET


6-Month Bill Announcement
11:00 AM ET


52-Week Bill Announcement
11:00 AM ET


30-Yr Bond Auction
1:00 PM ET


Fed Balance Sheet
4:30 PM ET


Money Supply
4:30 PM ET

3-Yr Note Settlement

10-Yr Note Settlement

30-Yr Bond Settlement


Consumer Price Index
8:30 AM ET


Retail Sales
8:30 AM ET


Empire State Mfg Survey
8:30 AM ET


Consumer Sentiment
9:55 AM ET


Business Inventories
10:00 AM ET

[admin]

Reportan utilidades JPM se espera que tenga buenas ganancias pero no buenas ventas.

Intel y AMD nos diran como va la demanda de computadores y electronicos devices, reportan el Martes y el Jueves respectivamente. Ambas disminuyeron sus pronosticos de ventas.

GE reporta el Viernes.

Los analistas estaran prestando especial atencion al ritmo de crecimiento de Google, a ver si puede mantenerlo. Reporta el Jueves.

On Deck Next Week: Google, J.P. Morgan, Intel, GE Earnings.
By Kathy Shwiff

Associated Press

J.P. Morgan Chase, which reports Wednesday, is expected to post higher profits on lower revenue. The banking giant’s results have been boosted by its Wall Street-related operations, but growth shifted toward Main Street in the second quarter as the economy continued to heal. Still, Chief Executive Jamie Dimon has said losses from consumer loans still remain at “extremely high levels.”

Results from big chip makers Intel Corp. and Advanced Micro Devices Inc. are likely to shed more light on demand for computers and other electronic devices when they report results Tuesday and Thursday, respectively. Both companies previously cut their third-quarter revenue guidance, citing weaker-than-expected demand.

General Electric reports its earnings on Friday.

Analysts have projected Google will report double-digit percentage growth in third-quarter earnings and revenue Thursday.
The company’s commanding lead in search-market share has held steady but investors will be looking for any signs that its pace of growth is slowing. Especially of interest are the number of clicks on ads and the average cost that advertisers paid Google per click, both of which have been increasing at slower rates.

At the International Monetary Fund and World Bank’s annual meetings in Washington, D.C., this weekend, world financial leaders are grappling with how to fuel a more balanced global economic recovery and avoid a possible global currencies war. The meetings, a stepping stone toward a major gathering of Group of 20 political leaders next month in Seoul are expected to offer glimpses on how a number of global economic issues might be addressed or not addressed by world leaders.

The government will issue the September Producer Price Index, which measures wholesale prices, and Consumer Price Index, which surveys retail prices, on Thursday and next Friday, respectively. Economists surveyed by Briefing.com expect the PPI to rise 0.3% and the CPI to be up 0.2% from a month earlier. Inflation is expected to remain very low until employment and incomes begin to grow.

The August trade deficit, due out Thursday, is expected to increase to $44.5 billion from $42.8 billion in July. A rising deficit is considered a sign of a stronger economy.

The Federal Reserve panel that sets a key interest rate will release the minutes of its most recent meeting Tuesday, and the government will detail September retail sales Friday. This week, major retailers reported monthly sales that were better than expected. Also next Friday, the New York Fed will release a regional manufacturing survey and the Reuters/University of Michigan will issue preliminary results for its October consumer sentiment index.

Among appearances by Federal Reserve officials: New York Fed President William Dudley speaks Sunday in Washington, Vice Chairwoman Janet Yellen will speak Monday in Denver, Kansas City Fed President Thomas Hoenig speaks Tuesday in Denver, Richmond Fed President Jeffrey Lacker speaks Wednesday in North Carolina, Atlanta Fed President Dennis Lockhart speaks next Friday in Atlanta and Chairman Ben Bernanke speaks next Friday in Boston.

[admin]

La reunion con el IMF fracasa en su intento de resolver el conflicto de la devaluacion de las divisas.

Se continuara la disputa en la cumbre del G-20 el proximo mes y no hay una clara resolucion a la vista. Los Chinos se opusieron a un llamado de un acuerdo internacional y el WTO dijo que no queria encargarse de las disputas entre los paises por la devaluacion de sus monedas.

IMF Meeting Fails to Resolve Conflict Over Currencies

By BOB DAVIS
WASHINGTON— The International Monetary Fund's annual meeting this weekend failed to ease currency battles roiling markets, pushing the dispute off to a summit next month of leaders of Group of 20 countries, with no clear resolution in sight.

The meeting Saturday might have been more significant for possible solutions ruled out. Chinese central bank officials rejected calls for an international or regional currency accord, and the World Trade Organization's chief said his institution didn't want to get involved in exchange-rate fights.

IMF members also scotched an effort by the U.S. to link a bigger Chinese role in the IMF to changes in Beijing's currency policies. "Nobody is linking this," said Egyptian Finance Minister Youssef Boutros-Ghali, who chairs the IMF's policy-making committee.

A U.S. official said the Obama administration would take the fight over currencies to a Seoul summit of leaders of the G-20 industrial and developing nations in mid-November. The administration used the last G-20 summit in June to prod China to announce beforehand that it would adopt a more "flexible" currency policy, rather than tying the yuan tightly to the dollar. But after the summit, the value of the yuan barely moved, provoking outrage on Capitol Hill and frustration in the Treasury and White House.

The U.S., European nations and a number of emerging-market countries complain that China is deliberately undervaluing its dollar to aid its exporters. To compete, South Korea Brazil and other Asian and Latin American nations have taken measures to beat down the value of their currencies as well, leading to fears that these efforts may presage a trade war.

If joblessness persists, "there's a danger countries will turn inward, and, as a result, international cooperation will falter," said World Bank President Robert Zoellick in a weekend briefing.

The U.S. has turned up the heat on China in the past month and has seen some results. Since White House economic official Lawrence Summers visited Beijing Sept. 6 to press China, the yuan has strengthened about 2% against the dollar. The U.S. official said that the recent pace of appreciation is encouraging but that the U.S. is skeptical the gains will continue without persistent U.S. pressure.

Korean summit planners, fearing that the currency battles will dominate the talks, are encouraging the U.S. and China to cut a political deal. But it is far from clear that either side is ready.

China's central bank governor, Zhou Xiaochuan, said he figures U.S. and European pressure will diminish once unemployment there begins to decline. He also dismissed the possibility, suggested by some Chinese academics, that Beijing should offer to limit exports to the U.S temporarily as a way to defuse tensions, in the same way that Japan limited exports of automobiles to the U.S. in the 1980s.

"That's an opinion of a small group of economists," Mr. Zhou said. "It's not seriously considered."

With the two sides at loggerheads, IMF Managing Director Dominique Strauss-Kahn said the IMF will take a bigger role in currency issues. On Friday, he suggested a "systemic stability initiative," in which the IMF would work on a number of fronts to ease currency battles. But by the end of the IMF meeting on Saturday, he described a narrower effort where the IMF would focus its reviews of country policies more heavily on currency issues. He said he also will attend the country-review sessions on China, as he already does with those on the U.S. and the euro zone.

Some European officials backed a broader role for the IMF, but the IMF's ability to act is limited because it can't enforce its judgments. The U.S. official said the IMF should continue to play an advisory role to the G-20.

Under the G-20's called rebalancing initiative, trade-surplus countries have agreed to shift away from export-led growth to domestic consumption. For China, that implies an appreciation of the yuan. Trade deficit countries—especially the U.S.—have agreed to boost savings and reduce imports.

The IMF meeting did produce progress in continuing efforts to reorganize how the institution is governed. Mr. Boutros-Ghali said he expects a deal by the G-20 summit in which Europe will, in effect, cede two of its eight seats on the IMF's 24-member executive committee.

Developing nations have been pushing for a change to represent their growing importance in the global economy.

With five of the European seats, the board member represents a group of countries, whereas with the other seats board members represent only their own countries. Mr. Boutros-Ghali said IMF members are coalescing around a European plan to "rotate" the heads of the multination constituencies, so that the Europeans take a secondary role.

For instance, Belgium represents a constituency that includes Turkey, which has come to have a more significant role in global economy than Belgium now has. "They'll rotate seats," Mr. Boutros-Ghali said. The board members " won't have a European face" as frequently as before.

[admin]

La reunion con el IMF fracasa en su intento de resolver el conflicto de la devaluacion de las divisas.

Se continuara la disputa en la cumbre del G-20 el proximo mes y no hay una clara resolucion a la vista. Los Chinos se opusieron a un llamado de un acuerdo internacional y el WTO dijo que no queria encargarse de las disputas entre los paises por la devaluacion de sus monedas.

IMF Meeting Fails to Resolve Conflict Over Currencies

By BOB DAVIS
WASHINGTON— The International Monetary Fund's annual meeting this weekend failed to ease currency battles roiling markets, pushing the dispute off to a summit next month of leaders of Group of 20 countries, with no clear resolution in sight.

The meeting Saturday might have been more significant for possible solutions ruled out. Chinese central bank officials rejected calls for an international or regional currency accord, and the World Trade Organization's chief said his institution didn't want to get involved in exchange-rate fights.

IMF members also scotched an effort by the U.S. to link a bigger Chinese role in the IMF to changes in Beijing's currency policies. "Nobody is linking this," said Egyptian Finance Minister Youssef Boutros-Ghali, who chairs the IMF's policy-making committee.

A U.S. official said the Obama administration would take the fight over currencies to a Seoul summit of leaders of the G-20 industrial and developing nations in mid-November. The administration used the last G-20 summit in June to prod China to announce beforehand that it would adopt a more "flexible" currency policy, rather than tying the yuan tightly to the dollar. But after the summit, the value of the yuan barely moved, provoking outrage on Capitol Hill and frustration in the Treasury and White House.

The U.S., European nations and a number of emerging-market countries complain that China is deliberately undervaluing its dollar to aid its exporters. To compete, South Korea Brazil and other Asian and Latin American nations have taken measures to beat down the value of their currencies as well, leading to fears that these efforts may presage a trade war.

If joblessness persists, "there's a danger countries will turn inward, and, as a result, international cooperation will falter," said World Bank President Robert Zoellick in a weekend briefing.

The U.S. has turned up the heat on China in the past month and has seen some results. Since White House economic official Lawrence Summers visited Beijing Sept. 6 to press China, the yuan has strengthened about 2% against the dollar. The U.S. official said that the recent pace of appreciation is encouraging but that the U.S. is skeptical the gains will continue without persistent U.S. pressure.

Korean summit planners, fearing that the currency battles will dominate the talks, are encouraging the U.S. and China to cut a political deal. But it is far from clear that either side is ready.

China's central bank governor, Zhou Xiaochuan, said he figures U.S. and European pressure will diminish once unemployment there begins to decline. He also dismissed the possibility, suggested by some Chinese academics, that Beijing should offer to limit exports to the U.S temporarily as a way to defuse tensions, in the same way that Japan limited exports of automobiles to the U.S. in the 1980s.

"That's an opinion of a small group of economists," Mr. Zhou said. "It's not seriously considered."

With the two sides at loggerheads, IMF Managing Director Dominique Strauss-Kahn said the IMF will take a bigger role in currency issues. On Friday, he suggested a "systemic stability initiative," in which the IMF would work on a number of fronts to ease currency battles. But by the end of the IMF meeting on Saturday, he described a narrower effort where the IMF would focus its reviews of country policies more heavily on currency issues. He said he also will attend the country-review sessions on China, as he already does with those on the U.S. and the euro zone.

Some European officials backed a broader role for the IMF, but the IMF's ability to act is limited because it can't enforce its judgments. The U.S. official said the IMF should continue to play an advisory role to the G-20.

Under the G-20's called rebalancing initiative, trade-surplus countries have agreed to shift away from export-led growth to domestic consumption. For China, that implies an appreciation of the yuan. Trade deficit countries—especially the U.S.—have agreed to boost savings and reduce imports.

The IMF meeting did produce progress in continuing efforts to reorganize how the institution is governed. Mr. Boutros-Ghali said he expects a deal by the G-20 summit in which Europe will, in effect, cede two of its eight seats on the IMF's 24-member executive committee.

Developing nations have been pushing for a change to represent their growing importance in the global economy.

With five of the European seats, the board member represents a group of countries, whereas with the other seats board members represent only their own countries. Mr. Boutros-Ghali said IMF members are coalescing around a European plan to "rotate" the heads of the multination constituencies, so that the Europeans take a secondary role.

For instance, Belgium represents a constituency that includes Turkey, which has come to have a more significant role in global economy than Belgium now has. "They'll rotate seats," Mr. Boutros-Ghali said. The board members " won't have a European face" as frequently as before.

[admin]

Otra vez se pone en evidencia la falta de liderazgo mundial respecto a las divisas y en general a todo nivel. US tiene la obligacion moral de valorizar al dolar considerando que es la moneda de reserva mundial.

Obama en lugar de preocuparse por tomar medidas que apoyen a la economia para bajar el desempleo y fortalecer al dolar, esta haciendo lo mismo que hace todo el mundo, devaluando el dolar para ayudar a las exportaciones pero en el camino se quedan los Americanos que ecada dia pagan precios mas caros por los productos importados que son la mayoria, los activos Americanos se devaluan todos los dias y el resto del mundo tambien sufre por la debilidad del dolar.

Tambien tenemos el alza en los commodities lo cual es un fenomeno unicamente y exclusivamente dependiente de la caide del dolar en estos momentos, lo cual sera fabuloso para el trading pero no es bueno para ninguna economia ni como politica a largo plazo.

El oro en este escenario sigue siendo el ganador, por que realmente no se ve liderazgo ni seriedad en querer solucionar los problemas estructurales que aquejan el mundo. Con China no se cuenta, ellos mas que nadie solo estan interesados en lo que le conviene a China y el resto del mundo se puede venir abajo, no es problema de ellos, ellos solo se estan dedicando a asegurar los materiales para el crecimiento de su pais comprando minas y en general todo lo que produce commodities en todas partes del mundo, son grandes jugadores en Latinoamerica, Africa, etc, etc, etc. Y nadie dice nada, ni hace nada.

En fin esperemos que el cambio de mayoria en el Congreso de mas claridad al mundo.

Es necesario un cambio.

[admin]

Porque los shortsellers han tomado posiciones en las acciones relacionadas con los fabricantes de chips?

Parece que no vienen bien los resultados de los semiconductores. Estan apostando a la baja a Intel, AMD, Qualcomm, Texas Instrument, Micron y AMD.

Bumpy Earnings Season Ahead for Chip Makers?.

By Matt Phillips
Earnings from Intel and Advanced Micro Devices are on deck next week. Reports from such chip makers are always closely watched, as they’re commonly thought to be leading indicators for the broader tech sector. But this earnings season could be potentially volatile for semiconductor companies. For one thing, the shorts have been taking a keen interest. Barclays Capital semiconductors analyst Tim Luke writes:

Short Interest data for September 2010 suggests continued high levels of short interest in semis relative to historical levels has helped underpinned recent outperformance in share prices across our semiconductor coverage universe. Despite a rebound in shares of many semi names across our coverage universe during September relative to the S&P 500, short interest has continued to edge upwards through September suggesting negative near-term sentiment.

Among others, Luke cites Qualcomm, Texas Instruments, Micron and AMD as companies where the shorts have made themselves comfortable. Here’s the chart of short interest in Qualcomm, for example:


Thomson ReutersThe shorts aren’t alone in the bearish view on some in the industry. J.P. Morgan semiconductors analyst Christopher Danely writes in a note Friday:

During 3Q10 earnings season we expect almost every semiconductor company that sells into the PC and consumer end markets to lower guidance for 4Q10 while companies selling into the communications and industrial end markets offer only seasonal guidance. After bouncing roughly 14% during September, we expect the SOX index to decline during October due to the high levels of inventory on semiconductor company balance sheets.

Seems like that’s what the shorts are betting on.

[admin]

Perú tiene gran potencial, afirma ejecutivo chileno
10:32 Principal exportadora de uva de Chile evalúa adquirir tierras para cultivos en Perú



Cultivos de uvas.


Lima, oct. 10 (ANDINA). La empresa Río Blanco de Chile, principal exportadora de uva de mesa del país sureño, informó que está evaluando adquirir terrenos en el Perú para aumentar su producción luego de detener sus inversiones en el mercado chileno.
Según un artículo del diario La Tercera publicado hoy, el gerente general de Río Blanco, Carlos Barros, explicó que la caída de hasta 20 por ciento en el tipo de cambio del dólar en Chile es el principal motivo que tuvo la empresa para congelar sus inversiones en Chile.

“Entonces uno piensa, ¿cómo invertir?, ¿qué esperar para los próximos dos meses?, uno no sabe bien en qué escenario está parado y mucho menos con qué reglas está jugando", opinó.

Río Blanco, controlada por la familia Barros, tiene 7,000 hectáreas de cultivos de uva repartidas en Chile, México y Perú, comercializa sus productos en más de 40 países, y factura 225 millones de dólares anuales.

Este año sus envíos representarán cerca del nueve por ciento de las exportaciones chilenas de esa fruta.

Barros manifestó que Río Blanco ya no está invirtiendo en compra maquinaria o implementación de nuevos campos o mirando nuevos negocios en Chile.

“Todo nuestro esfuerzo está destinado a reenfocar y abaratar costos”, acotó.

Por ello, señaló que la decisión de la empresa es crecer en el mercado peruano a través de la compra de tierras, ya que las expectativas en esa plaza son más optimistas.

“Perú tiene un gran potencial y las autoridades están haciendo algo para contener la apreciación de su moneda (el nuevo sol)”, dijo.

Aunque prefirió no adelantar en qué valle están buscando tierras, sí refirió que esperan concretar pronto el nuevo proyecto.

Pero precisó que el principal escollo para la empresa chilena es, por ahora, encontrar campos con agua.

En Perú, Río Blanco ya maneja, en particular en el Valle de Ica, un total de 50 hectáreas de uva de mesa y produce cerca de 500 mil cajas por año pero en sociedad con terceros (Inversiones del Pacífico).


Por su parte, el diario El Mercurio reportó que la intención de la empresa es tener 300 hectáreas de frutales en Perú dentro de tres años.

"Es un primer paso. Nosotros queremos tener una posición importante en Perú. Hoy es muy caro producir en Chile y Perú es más competitivo, porque en los últimos 10 años tiene un costo de producción mucho más barato que Chile ", anotó.

El ejecutivo calculó que los costos energéticos en Perú son 50 por ciento más baratos que en Chile en promedio, mientras que en mano de obra el costo sería menor en 30 por ciento, con la ventaja de tener mayor flexibilidad para contratar gente por hora o por día.

(FIN) EBS/EBS

•


(AND321738) Fecha: 10/10/2010

--------------------------------------------------------------------------------

[admin]

Las ventas de las tiendas retailers probablemente subieron por tercer mes consecutivo gracias a las ventas de autos.

Otro reporte indicara que la inflacion se contuvo y el deficit comercial aumento.

Se espera un 0.3% de aumento en las ventas de los retailers sin incluir las ventas de autos.

En una nota positiva las tiendas dijeron que estaran contratando 40,000 o 50,000 empleados por la campania navidenia.

Las acciones de los retailers han subido 14.5% este anio ganandole a todos los indices.

Las ventas de autos subieron tambien.

Sales at U.S. Retailers Probably Rose for Third Month on Vehicle Purchases
By Bob Willis - Oct 10, 2010 12:01 AM ET

Auto purchases rose to a seasonally adjusted 11.73 million annual rate, the strongest performance since the cash-for-clunkers program. Photographer: Scott Lewis/Bloomberg
Retail sales in the U.S. probably increased in September for a third month, easing concern consumer spending will weaken and endanger the recovery, economists said before reports this week.

A projected 0.4 percent gain in sales would match the prior month’s advance and is based on the median estimate of 57 economists surveyed by Bloomberg News before the Commerce Department’s Oct. 15 report and. Other figures may show the trade deficit widened and inflation was contained.

Stores are using promotions to drive sales gains that are being limited by unemployment near a 26-year high. Employers cut more jobs last month than forecast, underscoring concern among some Federal Reserve officials that the economy may require a boost from easier monetary policy.

Retailers continue “to battle a weak labor market and consumer confidence in the doldrums,” said Ellen Zentner, a senior U.S. economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York.

The Commerce Department’s report may show purchases excluding automobiles rose 0.3 percent after a 0.6 percent gain in August, according to the survey median.

While retail sales are struggling to accelerate, merchants may be counting on a stronger holiday shopping season. The National Retail Federation is forecasting holiday sales will be the best in four years and companies are planning on stepping up hiring as a result.

Hiring for Holidays

Toys “R” Us Inc., based in Wayne, New Jersey, last week said it would hire about 45,000 seasonal employees, doubling its U.S. workforce, to cope with holiday demand. The increase in seasonal employees is 10,000 more than last year.

Kohl’s Corp., the fourth-largest U.S. department store chain, plans to hire about 40,000 people this holiday season, 21 percent more than last year, the Menomonee Falls, Wisconsin- based company said in a statement last week.

Investors have driven up shares of retailers on signs of improvement. The Standard & Poor’s Supercomposite Retailing Index of 91 retailers including Target Corp. and Macy’s Inc., has gained 14 percent this year, compared with a 4.5 percent increase for the broader S&P 500 gauge.

The Commerce Department’s September figures may also reflect gains in auto sales. Vehicle purchases last month accelerated, with deliveries at General Motors Co. climbed 11 percent from a year earlier to 173,155. Ford Motor Co., the second largest company behind GM, boosted sales by 41 percent to 160,873 sales.

Auto Purchases

Auto purchases rose to a seasonally adjusted 11.73 million annual rate, the strongest performance since the government’s cash-for-clunkers program in August 2009, compared with 11.46 million a month earlier and 9.4 million a year ago, according to industry data.

A lack of job growth and Americans focused on paying down debt are hurdles for retailers.

Employment declined by 95,000 in September, depressed by job losses at local governments, after a 57,000 decrease the previous month, Labor Department figures showed last week. Company payrolls grew 64,000, the fewest in three months, and wages stagnated, the Labor Department’s figures showed Oct. 8.

Limited job growth is hampering spending and confidence. Goldman Sachs Group Inc. chief U.S. economist Jan Hatzius last week told a conference in Washington the jobless rate would drift up to around 10 percent, “maybe a little above 10 percent,” by early next year.

Easier Policy

He also said the Fed would “very likely” take more steps to ease monetary policy at its next policy meeting on Nov. 2-3. He wrote in an Oct. 4 note to clients that the Fed would likely begin by announcing purchases of $500 billion in Treasury and mortgage-backed securities.

The Thomson Reuters/University of Michigan’s preliminary index of consumer sentiment rose to 69 in October from 68.2 at the end of September, according to the Bloomberg survey median before the Oct. 15 release. The gauge averaged 89 in the five years leading up to the recession that began December 2007.

Another report the same day from the Commerce Department may show business inventories rose 0.5 percent in August after a 1 percent gain in July which was the biggest increase in two years, according to the median forecast.

Consumer spending gains and more inventory restocking are leading to increased imports. The trade balance in August widened to $44.1 billion from $42.8 billion, economists surveyed by Bloomberg forecast the Commerce Department to report on Oct. 14.

Discounting by retailers will probably be reflected in a Labor Department report on inflation Oct. 15. Consumer prices rose 0.2 percent in September after a 0.3 percent gain the prior month, according to the median forecast of economists surveyed by Bloomberg. Excluding energy and food, prices rose 0.1 percent after no change.

Prices paid to producers rose 0.2 percent after a 0.4 percent gain, economists estimated the Labor Department will report Oct. 14.

[admin]

Los indicadores economicos esta semana vienen bastante positivos sobre todo en lo que se refiere al consumidor que es mas del 70% de la economia.

Tendremos otra semana positiva. A menos que algo en el extranjero nos de un sacudon.

[admin]

Dudley del Fed dice que es una exageracion el decir que los requerimientos de capital van a perjudicar las ganancias de la banca y van a limitar el crecimiento economico.

Si creo que los nuvos standards van a imponer costos adicionales en el sector financiero pero estos han sido exagerados.

El espera que mas creditos esten disponibles.

Fed's Dudley Says Bank Concerns on Capital Requirements Are `Exaggerated'
By Caroline Salas and Joshua Zumbrun - Oct 10, 2010 9:59 AM ET

Federal Reserve Bank of New York President William Dudley said concerns that higher capital requirements for financial institutions will reduce profits and impair economic growth are overdone.

“Although I believe the new standards do impose some real costs on the financial system in order to achieve real benefits, I believe that concerns over the costs are exaggerated,” Dudley said today to the Institute of International Finance’s annual membership meeting in Washington.

By improving prospects for stability in financial markets, the new rules may “be consistent with a more rapid sustainable growth rate over the long run,” said Dudley, 57.

Regulators have tightened capital rules and standards such as liquidity requirements after coming under political pressure to rein in banks’ risk-taking amid taxpayer bailouts. The Basel Committee on Banking Supervision in September reached an agreement for rules that more than double capital requirements.

The Institute of International Finance, a group that represents 400 firms worldwide, said Oct. 4 that regulators shouldn’t impose additional capital standards on the largest banks because it would increase the “economic impact” of regulatory reform.

The banking industry persuaded regulators to soften rules adopted by the Basel Committee last month after an extensive lobbying campaign, pushing off implementation of tougher capital requirements for about a decade. Disappointed by the weakness of those rules, some countries such as Switzerland are moving ahead with their own tougher standards.

More Capital

It’s “prudent to assume that requiring banks to hold more capital and higher cost capital is likely to result in somewhat higher lending spreads,” Dudley said. Still, it’s “unrealistic” to assume that increase in borrowing costs would be large, he said.

The transition to the new requirements is “likely to be quite manageable” because many large U.S. banks “already have large amounts” of common stock, the new rules are being implemented slowly, and financial institutions can “adjust their business models to meet the new standards as they are phased in,” Dudley said.

Large U.S. banks also have “significant potential earnings power” and can retain earnings to build up capital and meet standards by 2019, he said.

By improving the credit quality of banks, their funding costs should also decline, which would make their lending businesses more profitable at current rates, he said. Banks could also cut their compensation expenses to boost earnings, he said.

‘Real Cost’

“Although any increase will be a real cost, this appears to be a necessary and appropriate price to pay for a much more resilient financial system,” Dudley said.

Dudley, who is also vice chairman of the policy-setting Federal Open Market Committee, didn’t comment on the outlook for the economy or on monetary policy.

In response to audience questions, Dudley said banks in the U.S. are no longer tightening lending standards, and that he expects more credit to become available.

“The good news is that the tightening of credit standards has passed,” Dudley said. “As time passes, we’ll see a further improvement in credit availability and as that happens that will actually support economic activity going forward.”

Discussing Measures

The Basel committee and the Financial Stability Board are discussing measures to rein in risks. The committee is made up of bank regulators and central banks from 27 countries. About two thirds of those same organizations are represented on the FSB, which in addition brings in the finance ministers from the Group of 20 nations.

Measures being considered by the two bodies include a capital surcharge specific to the biggest lenders and a global resolution mechanism to coordinate the unwinding of international banks so as not to bail them out when they fail.

It’s “important” that regulators around the world coordinate their standards, Dudley said. “It is necessary to ensure that banks and other financial firms cannot move their activities to evade regulation. If that were to occur, we would just have a race to the bottom and a less transparent and even more complex financial system.”

[admin]

Que novedad!!

Australia dice que el fortalecimiento de su moneda perjudicara a su economia. De verdad???...

[admin]

El-Erian de Pimco dice que los gobernantes estan "Losing the Pace" lentos, existe riesgo de una decada perdida. Ellos no reconocen que el mundo esta herido (de muerte?) por la crisis financiera.

El creador de la "nueva normalidad" dijo que los gobiernos y los bancos centrales no ha descubierto el "ongoing paradigm shift" el cambio de paradigma en sus economias que requieren otras acciones y no solamente los estimulos. Entre los problemas estan el alto desempleo, los balances y el total desconocimiento de los mercados financieros.

En buen cristiano lo que El-Rian quiere decir es que todos son una recatafila de incompetentes, brutos que no saben donde estan parados. Los manotasos de ahogados que dan son solo eso, manotasos que no resuelven los problemas estructurales de las economias. Esto esto es una ensalada rusa y bien revuelta.



Pimco's El-Erian Says Policy Makers `Losing the Peace,' Risk Lost Decade
By Simon Kennedy - Oct 10, 2010 11:10 AM ET

Policy makers risk “losing the peace” after saving the global economy from recession as they fail to recognize how the world has been wounded by the financial crisis, said Mohamed El-Erian, chief executive officer of Pacific Investment Management Co.

The creator of the “new normal” term to describe how growth will be depressed by consumer retrenchment and financial regulation, El-Erian said governments and central banks haven’t detected the “ongoing paradigm shift” in their economies that will require remedies beyond stimulus programs. Among the fault lines he spots are strained balanced sheets, persistently high unemployment and a misunderstanding of financial markets.

“Having won the war, industrial-country societies are in the process of losing the peace,” El-Erian said in a speech today in Washington during the annual meetings of the International Monetary Fund and World Bank. “If they are not careful, they risk slipping into a lost decade of low growth, high unemployment and welfare destruction.”

Such threats were exposed last week as the U.S. reported its economy lost more jobs than forecast in September and the IMF cut its 2011 economic growth forecast for advanced nations by 0.2 percentage point to 2.7 percent. To reverse the weaknesses, officials must increasingly look beyond the immediate economic cycle to solve “structural” flaws in their economies, said El-Erian, 52, who helps manage more than $1.1 trillion of assets.

‘Unsettling Situation’

Advanced economies and investors “find themselves in a rather unsettling situation where expectations involve an unusually broad range of potential outcomes and equally unusually high risks,” he said.

He pointed to the Greek-led debt crisis in Europe as an example of the balance-sheet challenges economies will increasingly have to cope with.

“With prospects for growth sluggish, it is far from assured that some of these countries will be able to grow their way out of their problems,” he said. “In the process, they will discover the disruptive nature of debt overhangs.’

While the European Central Bank is providing liquidity and governments have united with the IMF to give budgetary aid, new investors are not entering the economies, with Greece and Ireland continuing to face “dangerous” risk spreads in financial markets, El-Erian said.

Rise in Unemployment

Without investment, growth and hiring, some economies will find it hard to limit the decline in gross domestic product and subsequent rise in unemployment, while “concerns will mount about the contamination of the ECB’s balance sheet,” he said.

“The risk of contagion will grow and the revolving nature of IMF resources will be exposed to considerable risk,” El- Erian said.

Policy makers must also tackle structural changes in their economies, he said, noting how despite their stimulus efforts companies have resisted hiring and investment. American firms added 64,000 jobs last month, less than forecast, and the jobless rate held at 9.6 percent, the Labor Department said Oct. 8.

“Persistently high unemployment is becoming more structural in nature, thereby eroding the skills of the labor force and putting pressure on inadequate social safety nets and already-strained government budgets,” El-Erian said. “Rather than question the limited effectiveness of the cyclical approaches, the response by too many has been just to advocate doing more of the same.”

Understanding Financial Services

A third challenge is that policy makers have “too little understanding” of how the financial-services sector functions, El-Erian said. They failed to realize how their rescue of banks would spur a recovery in financial markets that outpaces that of households and businesses. U.S. stocks advanced last week, sending the Dow Jones Industrial Average above 11,000 for the first time since before the May 6 crash.

“It highlighted once again an outcome that is unacceptable in democratic society: the privatization of massive gains and the socialization of enormous losses,” he said.

The longer policy makers spend failing to address “secular” changes to their economies, “the greater the difficulties that industrial countries will experience in reducing joblessness, sustaining high growth, strengthening safety nets and overcoming sovereign risk concerns,” El-Erian said.

IMF Role

He called on the IMF to do more to encourage global policy coordination that has been on the slide since the Group of 20 nations united to fight the recession. Recent meetings of international policy makers, including the current talks in Washington, have been marred by splits over currencies and budget policies, he said.

“A once-promising global response has now been replaced by inadequately coordinated national economic policies and growing frictions among countries,” he said. “The IMF is still not where we need it to be to fill the growing vacuum at the center of the international system.”

To contact the reporter on this story: Simon Kennedy in Washington at skennedy4@bloomberg.net

[admin]

La pelicula acerca de la creacion de Facebook nuevamente es la mas taquillera con $15.5 millones de ventas. Sony gasto $50 millones en hacer la pelicula.



Sony's `Social Network' Repeats as Top Film With $15.5 Million in Sales
By Michael White - Oct 10, 2010 11:51 AM ET

“The Social Network” repeated as the top movie in U.S. and Canadian theaters for a second week, taking in $15.5 million in receipts for Sony Corp.

The Katherine Heigl comedy “Life as We Know It” opened in second place with $14.6 million in ticket sales for Warner Bros., Hollywood.com Box-Office said today in an e-mailed statement.

The repeat win for “The Social Network” follows critical acclaim for the movie, which chronicles the controversial rise of Facebook Inc. and its co-founder, Mark Zuckerberg. Sony spent $50 million making the movie, Box Office Mojo estimates. Domestic ticket sales total $46.1 million since its Oct. 1 release.

The movie stars Jesse Eisenberg as Zuckerberg as he builds the top social-networking website, leaving a trail of lawsuits and broken friendships. The story is told from several perspectives. Justin Timberlake appears as venture capitalist Sean Parker.

In “Life as We Know It,” Heigl co-stars with Josh Duhamel as two young adults who are asked to take custody of their infant goddaughter after the child’s parents are killed. They must set aside their differences as they juggle careers and unexpected parenthood.

“Secretariat,” about the 1973, Triple Crown-winning thoroughbred racehorse, opened in third place with $12.6 million. The movie stars Diane Lane as Penny Chenery, the housewife who took over the stable where the horse was trained. John Malkovich co-stars.

[admin]

Cuatro lecciones para los nuevos negocios en la vida real de la pelicula de Facebook:

Busca por inspiracion en los momentos mas bajos de tu vida. Zuckerberg empezo su proyecto de Facebook despues de pelearse con su enamorada. Ella lo inspiro.

Pide dinero para empezar a tus amigos y familiares

No tengas miedo de soniar en grande

Fijate que tu y los que trabajan contigo en el proyecto esten en la misma pagina (trabajen al mismo ritmo)


Four Start-Up Tips From 'The Social Network'

By JULIE STEINBERG Of FINS.com
David Fincher's "The Social Network" blew into theaters last weekend and the film is already generating Oscar buzz.

While taking in the Sorkinian rapid-fire dialogue, we couldn't help charting the path of the main characters, Mark Zuckerberg and Co., as they rose to prominence.

The movie is a fictionalized account of how Facebook started and aside from its entertainment value there are a few important lessons from the film that can help you succeed in your tech career -- especially if you're living the start-up life.

Look for Inspiration in the Smallest Moments

According to the movie, a fight with his girlfriend prompted Zuckerberg to take to his blog and draw up a prototype of "FaceMash," which allowed users to rank Harvard students' attractiveness. This form of interactive media was the foundation for Facebook's birth. If you're frustrated with something, use that spark as a propeller for creating your own version or designing a new product.

Ask Your Family and Friends for Seed Money

In the film, Zuckerberg teams up with Eduardo Saverin, a wealthy classmate from a Brazilian family with resources. Saverin initially funds the venture and provides ample bank to help the project off the ground. When the two get into a massive fight, however, Zuckerberg is forced to ask his family for a loan to keep the servers running (this part isn't depicted in the movie). Big-time angels may come later in the process, but in the beginning, start with those nearest and dearest to you.


Don't Be Afraid to Dream Bigger

There's a point where Zuckberg realizes that he and his team have to move to Palo Alto in order to get Facebook the attention it deserves. He drops out of Harvard to pursue the venture, lured in part by Napster founder Sean Parker's words of advice. "A million dollars isn't cool," Parker says. "You know what's cool? A billion dollars." It's that encouragement that enables Zuckerberg to realize that Facebook can be stretch across continents as a behemoth in its own right. Some call it deluded self-confidence, but without it, no start-up can succeed.

Make Sure You're on the Same Page as Your Coworkers

Saverin becomes obsessed with putting ads on Facebook pages, an idea that doesn't thrill Zuckerberg in the beginning. Ultimately, their outlooks diverge so drastically that Saverin is forced out and his shares are massively diluted. Creative differences are an important part of the start-up process insofar as they force founders to examine things from all angles, but don't be so unyielding that you're forced out at the outset. Saverin sued Zuckerberg and eventually settled, but after that spat he wasn't able to be a part of one of the most exciting business launches of its era.

[admin]

SPANISHOCTOBER 10, 2010, 2:34 P.M. ET
Perforadora llega a los mineros atrapados

Por Matt Moffett

MINA SAN JOSÉ, Chile—Una poderosa perforadora alcanzó la cámara subterránea donde 33 mineros han estado atrapados por más de dos meses.

El gobierno chileno fijó la fecha probable del rescate para el miércoles, señalando que el ducto de más de 600 metros es lo suficientemente sólido que sólo un pequeño tramo de éste tendría que ser "encamisado" con tubos de acero.

Familiares y rescatistas festejaron el sábado cuando la perforadora T-130 completó el ducto de escape para los 33 mineros atrapados.

La finalización del pozo de 70 centímetros de ancho, a las 8:05 de la mañana del sábado, provocó festejos y lágrimas entre los rescatistas y los familiares de los mineros instalados en una ciudad de tiendas de campaña sobre la mina llamada "Campamento Esperanza".

Los trabajadores, atrapados desde el 5 de agosto, ya han soportado un período más largo que sobrevivientes de cualquier otro accidente minero y los esfuerzos para rescatarlos ha atraído la atención de todo el mundo.