Jueves 03/02/11 ISM, Ordenes de fabricas

[admin]

Eventos economicos

Jueves

Ventas de cadenas de tiendas
Indice del empleo Monster
Seguros de desempleo
Productividad y costos del empleo
Ordenes de fabricas
ISM non manufacturero
Inventarios de gas natural
Subasta de bonos


Weekly Bill Settlement


Chain Store Sales


Monster Employment Index
6:00 AM ET


Jobless Claims
8:30 AM ET


Productivity and Costs
8:30 AM ET


Factory Orders
10:00 AM ET


ISM Non-Mfg Index
10:00 AM ET


EIA Natural Gas Report
10:30 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


Fed Balance Sheet
4:30 PM ET


Money Supply
4:30 PM ET

[admin]

Jueves
Reportan CVS, MasterCard, Dow Chemical

Se espera que los seguros de desempleo bajen en 31,000. El ISM de servicios se espera que sea 57.

Thursday Spotlight: CVS, MasterCard, Dow Chemical.

In earnings we’ll
MarketBeater from the days of yore. get higher-profile reports from the likes of:

CVS Caremark Corp.
The Dow Chemical Company
Kellogg Co.
MasterCard
Merck & Co., Inc.
The New York Times Company
Viacom
Sunoco
Cardinal Health, Inc.
And in economics, the focus will be on jobs ahead of the big report Friday:

8:30 a.m. — Weekly jobless claims are expected to arrive at 423,000. Last time the Labor Department reported the number of idled U.S. workers filing new claims for benefits rose by 51,000 to 454,000 in the week ended Jan. 22. Analysts said the data were likely distorted by winter weather and think new claims will resume a downward course.

10 a.m. — The ISM report for the services sector is expected to arrive at 57. Last time, the Institute for Supply Management’s survey of companies in the services and nonmanufacturing sectors, climbed to 57.1 from 55 in November — the 12th straight month of growth. A level above 50 indicates expansion. The ISM survey of manufacturing firms released earlier this week also was strong.

[admin]

Copper February 02,21:57
Bid/Ask 4.5240 - 4.5259
Change +0.0069 +0.15%
Low/High 4.5123 - 4.5363
Charts

Nickel February 02,21:51
Bid/Ask 12.6456 - 12.6977
Change +0.0630 +0.50%
Low/High 12.5825 - 12.7589
Charts

Aluminum February 02,21:56
Bid/Ask 1.1254 - 1.1268
Change +0.0031 +0.27%
Low/High 1.1223 - 1.1273
Charts

Zinc February 02,21:52
Bid/Ask 1.1108 - 1.1143
Change +0.0019 +0.17%
Low/High 1.1061 - 1.1152
Charts

Lead February 02,21:15
Bid/Ask 1.1880 - 1.1924
Change -0.0035 -0.30%
Low/High 1.1847 - 1.1969

[admin]

Las acciones en el Asia mixtas, las aseguradaras suben en Australia

El Nikkei ligeramente a la baja, Australia al alza, los demas mercados cerrados por el Anio Nuevo Lunar. Los futures del Dow Jones estaban 7 puntos al alza.

El oro y el petroleo sin mayor variacion.

Asian Shares Mixed; Insurers Up in Sydney

By SHRI NAVARATNAM
SINGAPORE—Asian shares were mixed Thursday after sluggish leads from Wall Street and renewed violence in Egypt stymied demand, but insurance shares in Sydney rose as a tropical cyclone that struck the country early in the day caused less damage than feared.

Japan's Nikkei Stock Average was off 0.1%, Australia's S&P/ASX 200 was 0.2% higher and New Zealand's NZX-50 was up 0.1%. Markets in China, Hong Kong, South Korea, Taiwan, Singapore, Malaysia, Indonesia and Vietnam were shut for the Lunar New Year holiday.

Dow Jones Industrial Average futures were up seven points in screen trade.

Trading was subdued owing to the closure of most regional markets, while investors were also cautious after turmoil in Egypt took center stage again amid violent clashes between pro- and antigovernment demonstrators Wednesday. Crowds, not satisfied with President Hosni Mubarak's pledge to step down from power after his term expires this fall, called for his nearly 30-year reign to end immediately.

"The situation in Egypt represents a potential economic risk," said Ric Spooner, markets strategist at CMC Markets in Sydney. "However, at this stage it is unclear what form any transitional government will take and whether there may be disruption to oil and gas supplies or implications for regional stability."

The Sydney market ticked modestly higher as investors were relieved that a tropical cyclone that hit North Queensland early Thursday caused less damage than initially feared.

Cyclone Yasi—described by officials as one of the largest to ever hit the continent—narrowly missed the major city of Cairns and was downgraded to Category 2 from Category 5.

The latest weather hazard comes after massive flooding hit Queensland in December and January, causing three-quarters of the state to be declared a disaster area.

Insurance stocks and some transport firms attracted relief buying, with Suncorp up 2.3% and IAG 2.2% higher. Rail operator QR National, which recently fell on worries of cyclone-induced disruption to its services, rose 1.1%.

BHP Billiton advanced 1% and Rio Tinto rose 1.2% after Goldman Sachs upgraded its commodity price forecasts.

Insurer QBE was on a trading halt. A person familiar with the matter told The Wall Street Journal on Thursday that Bank of America-Merrill Lynch is in talks to sell its Balboa insurance division to QBE for between A$1 billion and A$2 billion. A QBE spokeswoman declined to comment.

Shares in Tokyo took a breather after rising 2.1% over the past two sessions.

"It may still take some time for shares to test higher until the fog clears," said Masayoshi Yano, senior market analyst at Meiwa Securities, referring to a cautiousness before the European Central Bank's policy meeting later in the day, Friday's U.S. jobs data and the escalating clashes in Egypt.

Weak third-quarter earnings hit Panasonic and Ricoh, which fell 2.8% and 9.9%, respectively. Consumer lender Acom also dropped 3.6% on sluggish earnings.

Sony was off 1.1% while Hitachi rose 1.5% ahead of their earnings reports due later in the day.

Fast Retailing was among the few stocks to outperform in early trade; the stock rose 4.4% after reporting a 10.7% gain in domestic sales in January at its Uniqlo casual clothing chain.

Weak jobs data in New Zealand weighed the share market and the local currency.

Data released earlier in the day showed New Zealand's unemployment rate rose to 6.8% in the fourth quarter, from 6.4% in the third, and above the 6.4% tipped by 12 economists polled by Dow Jones Newswires. Employment also fell 0.5% on the quarter, undershooting expectations for a fall of 0.2%.

The weak jobs report is "another piece of data highlighting the fragility of New Zealand's recovery to date and we believe it should continue to cement the (Reserve Bank of New Zealand) to the sidelines" for the time being, said Goldman Sachs economist Philip Borkin.

Stocks were trading in a tight range. Fletcher Building was off 0.3%, while Telecom added 0.1% and Air New Zealand advanced 1.3%.

The New Zealand dollar was recently fetching 77.32 U.S. cents, down from 77.77 cents just ahead of the data release.

Among currency majors, the euro was steady against the dollar and tracked a tight range. The single currency slipped slightly Wednesday amid the fresh violence in Egypt and renewed euro-zone debt worries after Standard & Poor's cut its rating on Ireland.

Traders say the focus will turn to the ECB's rate-setting meeting as expectations grow the central bank will be forced to hike rates sometime this year to curb rising inflation.

The euro was fetching $1.3805 against the dollar, from $1.3810 late in New York on Wednesday, and 112.66 yen, from 112.64 yen. The dollar was at 81.63 yen, compared with 81.55 yen.

Lead March Japanese government bond futures were down 0.18 at 139.55 points, weighed by Wednesday's fall in U.S. Treasurys. The benchmark 10-year cash JGB yield was up two basis points at 1.240%.

Spot gold was at $1334.50 per troy ounce, down 50 cents from its New York close Wednesday. March Nymex crude oil futures were up 24 cents at $91.10 per barrel on Globex.

[admin]

Otro orgullo para el Peru

El Apartheid economico de Egipto

Mas del 90% de los Egipcios no tienen titulo legal de sus propiedades. No es casualidad que ellos no pueden acumular liqueza y han perdido toda esperanza.

By Hernando de Soto

El titular que aparecio en Al Jazeera el 14 de Enero, una semana antes de las protestas, afirmaba que "el verdadero terror en el mundo Arabe es la marginalizacion socio-economica"

El gobierno de Egipto estaba por mucho tiemp preocupado por las consecuencias de la marginalizacion. En 1997, con el apoyo financiero de US Agency for International Development, el gobierno me contrato (Institute for Liberty and Democracy) Querian conocer el numero de Egipcios que estaban marginalizados y cuanto de la economia operaban "ilegalmente" eso, es si la proteccion de los derechos de propiedad o el acceso a la economia formal, como el credito, que ayuda a los negocios a prosperar y expandirse. El objetivo era remover los impedimentos legales a la gente y los negocios.

Despues de anios de investigacion y analisis - que necesitaron 120 tecnicos Egipcios y Peruanos con la participacion de 300 lideres locales y entrevistas con miles de personas ordinarias - nosotros presentamos los resultados, un reporte de 1,000 paginas con un plan de accion de 20 puntos a los 11 miembros del cabinete en el 2004. El reporte fue presentado al Ministro de Finanzas Muhammad Medhat Hassanein, y el cabinete aprobo sus recomendaciones.

El diario mas importante, Al Ahram, declaro que las reformas "abririan las puertas de la historia para Egipto" entonces, como resultado del cambio de cabinete, Mr. Hassanein fue despedido. Fuerzas escondidas bloquearon los elementos cruciales de las reformas.

Hoy dia, las calles estan llenas de muchos Egipcios que llaman al cambio, vale la pena notar que algunos de los hechos mas importantes descubiertos por nuestra investigacion en el 2004:

- La economia informa es el mas grande empleador del pais. El sector privado legar emplea a 6.8 millones de personas, mientras el publico 5.9 millones, 9.6 millones trabajan en el sector informal.

-El 92% de los bienes raices no mantienen un titulo de propiedad.

- Nosotros estimamos que el valor de la economia y las propiedades informales, rurales como urbanas, son $248 billones - 30 veces mas grandes que el valor de mercado de las companias registradas en el Cairo Stock Exchange y 55 veces mas grandes que el valor de la inversion extranjera directa en Egipto desde que Napoleon invadio - incluyendo el Suez Canal y el Aswan Dam. La cifra de la economia informa el dolares actuales es mas de $400 billones.

- Los empresarios que operan fuera del sistema legal estan rezagados. Ellos no tienen acceso a la organizacion de los negocios,, partnerships, join stock companies, corporations, etc, que los ayudaria a crecer de manera legal. Porque las companias no tienen contratos legales ni reglas, los bancos y demas no pueden confiar en ellos. Esto hace mas dificil o imposible contratar a los mejores profesionales y los duenios de estos negocios no pueden emitir deuda mediante bonos o IOUs o obtener credito.

Sin claros titulos de propiedad legal de sus activos o propiedades, estos empresarios tienen capital muerto en sus manos, las propiedades no pueden hipotecarse para obtener prestamos, obtener caital o darlos como garantias en contratos a largo plazo. Asi estos Egipcios se mantienen pequenios y relativamente pobres. Lo unico que puede emanciparlos es la reforma legal. Y solo el liderazgo politico puede solucionar esto. Muchos technocratas no han sido entrenados para expander las leyes, si no para defenderlas como las encuentran. Emancipar a la gente de malas leyes y salir de la inercia del status quo es un trabajo politico.

La pregunta primordial es preguntar por que la mayoria de los Egipcios eligen mantenerse fuera de la legalidad economica? la respuesta es que como en la mayoria de los paises en desarrollo, las autoridades e instituciones Egipcias le fallan a la mayoria de sus ciudadanos. Debido a la burocracia, malas leyes, discriminacion, es imposible para la mayoria de personas legalizar sus propiedades o sus negocios, no importa que tan bien intencionados sean.

Los ejemplos son muchos. Para abrir una pequenia pasteleria, nuestros investigadores encontraron, que uno se demoraria mas de 500 dias. Para obtener el titulo legal de un pedazo de tierra vacante tomaria mas de 10 anios. Para hacer negocios en Egipto, un empresario aspirante tendria que lidiar con 56 agencias del gobierno y repetir inspecciones muchas veces.

Por eso los Egipcios no pueden mejorar sus vidas.

Hacer que la mayoria de los Egipcios entren al sistema legal romperia el apartheid economico de Egipto. Dandole el poder a los pobres comenzaria con otorgar titulos de propiedad a los $400 billones de activos que nosotros encontramos en la informalidad. Esto abriria las puertas de cientos de veces el capital que entra al pais como inversion extranjera y lo que Egipto recibe en ayuda internacional.

Los lideres y gobiernos pueden cambiar y mas democracia puede llegar a Egipto. Pero hasta que no existan instituciones legales y reformas que permitan que el crecimiento economico suba de abajo para arriba, las aspiraciones de una vida mejor estan motivando a muchos a salir a protestar a las calles jamas seran alcanzadas.

Mr. de Soto, author del Misterio del Capital (Basic Books, 200) y El Otro Sendero (Harper and Row, 1989) es el presidente del Institute for Liberty and Democracy con sede en Lima, Peru.


Egypt's Economic Apartheid
More than 90% of Egyptians hold their property without legal title. No wonder they can't build wealth and have lost hope

By HERNANDO DE SOTO
The headline that appeared on Al Jazeera on Jan. 14, a week before Egyptians took to the streets, affirmed that "[t]he real terror eating away at the Arab world is socio-economic marginalization."

The Egyptian government has long been concerned about the consequences of this marginalization. In 1997, with the financial support of the U.S. Agency for International Development, the government hired my organization, the Institute for Liberty and Democracy. It wanted to get the numbers on how many Egyptians were marginalized and how much of the economy operated "extralegally"—that is, without the protections of property rights or access to normal business tools, such as credit, that allow businesses to expand and prosper. The objective was to remove the legal impediments holding back people and their businesses.

After years of fieldwork and analysis—involving over 120 Egyptian and Peruvian technicians with the participation of 300 local leaders and interviews with thousands of ordinary people—we presented a 1,000-page report and a 20-point action plan to the 11-member economic cabinet in 2004. The report was championed by Minister of Finance Muhammad Medhat Hassanein, and the cabinet approved its policy recommendations.

Egypt's major newspaper, Al Ahram, declared that the reforms "would open the doors of history for Egypt." Then, as a result of a cabinet shakeup, Mr. Hassanein was ousted. Hidden forces of the status quo blocked crucial elements of the reforms.

Today, when the streets are filled with so many Egyptians calling for change, it is worth noting some of the key facts uncovered by our investigation and reported in 2004:

• Egypt's underground economy was the nation's biggest employer. The legal private sector employed 6.8 million people and the public sector employed 5.9 million, while 9.6 million people worked in the extralegal sector.

• As far as real estate is concerned, 92% of Egyptians hold their property without normal legal title.

• We estimated the value of all these extralegal businesses and property, rural as well as urban, to be $248 billion—30 times greater than the market value of the companies registered on the Cairo Stock Exchange and 55 times greater than the value of foreign direct investment in Egypt since Napoleon invaded—including the financing of the Suez Canal and the Aswan Dam. (Those same extralegal assets would be worth more than $400 billion in today's dollars.)

View Full Image

Associated Press

Waiting in line for bread in Cairo, Feb. 2
.The entrepreneurs who operate outside the legal system are held back. They do not have access to the business organizational forms (partnerships, joint stock companies, corporations, etc.) that would enable them to grow the way legal enterprises do. Because such enterprises are not tied to standard contractual and enforcement rules, outsiders cannot trust that their owners can be held to their promises or contracts. This makes it difficult or impossible to employ the best technicians and professional managers—and the owners of these businesses cannot issue bonds or IOUs to obtain credit.

Nor can such enterprises benefit from the economies of scale available to those who can operate in the entire Egyptian market. The owners of extralegal enterprises are limited to employing their kin to produce for confined circles of customers.

Without clear legal title to their assets and real estate, in short, these entrepreneurs own what I have called "dead capital"—property that cannot be leveraged as collateral for loans, to obtain investment capital, or as security for long-term contractual deals. And so the majority of these Egyptian enterprises remain small and relatively poor. The only thing that can emancipate them is legal reform. And only the political leadership of Egypt can pull this off. Too many technocrats have been trained not to expand the rule of law, but to defend it as they find it. Emancipating people from bad law and devising strategies to overcome the inertia of the status quo is a political job.

The key question to be asked is why most Egyptians choose to remain outside the legal economy? The answer is that, as in most developing countries, Egypt's legal institutions fail the majority of the people. Due to burdensome, discriminatory and just plain bad laws, it is impossible for most people to legalize their property and businesses, no matter how well intentioned they might be.

The examples are legion. To open a small bakery, our investigators found, would take more than 500 days. To get legal title to a vacant piece of land would take more than 10 years of dealing with red tape. To do business in Egypt, an aspiring poor entrepreneur would have to deal with 56 government agencies and repetitive government inspections.

All this helps explain who so many ordinary Egyptians have been "smoldering" for decades. Despite hard work and savings, they can do little to improve their lives.

Bringing the majority of Egypt's people into an open legal system is what will break Egypt's economic apartheid. Empowering the poor begins with the legal system awarding clear property rights to the $400 billion-plus of assets that we found they had created. This would unlock an amount of capital hundreds of times greater than foreign direct investment and what Egypt receives in foreign aid.

Leaders and governments may change and more democracy might come to Egypt. But unless its existing legal institutions are reformed to allow economic growth from the bottom up, the aspirations for a better life that are motivating so many demonstrating in the streets will remain unfulfilled.

Mr. de Soto, author of "The Mystery of Capital" (Basic Books, 2000) and "The Other Path" (Harper and Row, 1989), is president of the Institute for Liberty and Democracy based in Lima, Peru.

[admin]

El Peru tiene hijos notables. Es un orgullo.

[eduforever]

violencia en el cairo en vivo

http://english.aljazeera.net/watch_now/

[Victor VE]

Estoy harto de pelearme con conchudos comunistas que quieren subirle el impuesto a las mineras, sobreganancias y demas. "Los ricos tienen que pagar mas impuestos porque son ricos y los pobres pobres no teniendo de donde pagarlo". Miserables.

[Victor VE]

Admin esta ocupada creo.

[Victor VE]

Todo Europa en rojo.

-9.

[admin]

Viacom reporta mejor a lo esperado

Las ganancias de Royal Dutch Shell fueron menores a las esperadas.

El Asia a la baja, Europa a la baja.

Yields up 3.51%

Los futures del Dow Jones 20 puntos a la baja

Las ganancias de CVS menores a las esperadas

-22

Libor igual 0.31%

Australia cerro al alza.

Oil up 91.49

Au down 1,331, futures cu down

[admin]

Ag down 28.26

Copper February 03,08:19
Bid/Ask 4.5001 - 4.5017
Change -0.0170 -0.38%
Low/High 4.4971 - 4.5394
Charts

Nickel February 03,08:19
Bid/Ask 12.5580 - 12.5689
Change -0.0245 -0.19%
Low/High 12.5376 - 12.7589
Charts

Aluminum February 03,08:19
Bid/Ask 1.1259 - 1.1263
Change +0.0035 +0.31%
Low/High 1.1223 - 1.1331
Charts

Zinc February 03,08:19
Bid/Ask 1.1094 - 1.1102
Change +0.0006 +0.05%
Low/High 1.1043 - 1.1265
Charts

Lead February 03,08:19
Bid/Ask 1.1917 - 1.1936
Change +0.0002 +0.02%
Low/High 1.1847 - 1.2128

[admin]

BBVA, segundo mayor banco de España por activos, reportó una ganancia en el cuarto trimestre 30 veces mayor que la del mismo lapso de 2009, a US$1.300 millones. El salto se atribuyó al crecimiento en América Latina, que compensó la debilidad en España.

Nortel, fabricante canadiense de equipos para redes, espera elegir dentro de tres semanas una primera oferta entre al menos cinco compradores potenciales para su portafolio de patentes, indicaron fuentes cercanas. La venta podría llegar a US$1.000 millones.

BMW, de Alemania, y Peugeot Citroën, de Francia, acordaron crear una sociedad que amplía su colaboración en autos híbridos y eléctricos. El proyecto 50-50 empezaría a operar en el segundo trimestre y producirá autopartes como baterías, motores y sistemas de transmisión.

News Corp., conglomerado de medios de EE.UU. dueño de The Wall Street Journal, lanzó un periódico digital creado para el iPad de Apple. The Dialy tendrá hasta 100 páginas de noticias, opinión y deportes, e incluirá audio y video.

Time Warner informó que su ganancia del cuarto trimestre aumentó 22% en un año, a US$769 millones, gracias al repunte del mercado publicitario. El grupo estadounidense, propietario de la revista Time y el canal CNN, hizo predicciones optimistas para 2011.

El tráfico aéreo de pasajeros aumentó 8,2% en 2010 y la demanda de transporte de carga subió 21% frente al año anterior, informó la asociación del sector, la IATA. Ésta advirtió, sin embargo, que la rentabilidad de las aerolíneas sigue siendo débil y está bajo presión por el encarecimiento de los combustibles.

Google acusó a Microsoft de copiar sus resultados de búsqueda en Internet. El gigante estadounidense de búsquedas en línea hizo la acusación después de divulgar las conclusiones de una prueba realizada para mostrar cómo los resultados de Google luego fueron copiados por Bing de Microsoft. Un vocero de esta compañía señaló: "No copiamos los resultados de Google". El debate, por ahora, se ha limitado a acusaciones verbales.

Chevron, petrolera estadounidense, presentó una demanda en EE.UU. contra las partes que la demandaron en Ecuador por contaminación. Chevron acusa a los demandantes, sus abogados y otros miembros de su equipo legal de conspirar para fabricar pruebas, intimidar a los tribunales ecuatorianos y ocultar pruebas de las cortes estadounidenses.

UPS Capital, división financiera de la empresa de transportes UPS, anunció la apertura de sucursales en Perú y Colombia, para financiar importaciones de bienes de capital.

Chile registró un aumento de 68% en las ventas de autos en 2010, a 289.280 unidades, informó la asociación del sector, Anac.

Los puertos argentinos en el río Paraná volvieron a funcionar poco a poco ayer, después de una semana de huelga, cuando el gobierno les ordenó a los sindicatos y los empleadores volver a la mesa de negociaciones.

Cementos Liz, empresa brasileña, ingresó en un proceso para salir a bolsa. Es el caso más reciente de una empresa que intenta aprovechar el alza del mercado de capitales en Brasil. Liz no informó cuántas acciones pretende vender ni a qué precio.

Brasil podría aumentar los aranceles sobre algunos bienes importados para defender la balanza comercial, indicó el ministro de Comercio Exterior, Fernando Pimentel.

[admin]

El cobre alcanzo los $10,000

La bolsa de Egipto baja.

Trichet mantuvo los intereses intactos.

La violencia en Egipto aumenta.

[admin]

Oil up 91.47

Euro down 1.3750

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