$Wk Ahead-11/30-12/04-News Themes/Major Events/Reports-Insiders
The week ahead shall continue to have the fate of Dubai World’s debt in focus as the markets wait for answers after last week’s timely announcement and global selloff. While everyone and their brother has attempted analysis of this situation…The important factor here is how fragile the entire system remains due to global economies created and built on over extended hopes, dreams, credit on risky assets, and those financial instruments of mass destruction which are still buried under the sheets~BUILD or BUY NOW-Sign on the dotted line, send it out to the chop shop of creative finance with insurance by bucket shops of Da Boyzz of gamblers annonmous and PAY LATER~~~Will it ever change??? We shall also get the early results of the holiday shopping season from Black Friday and sales/Cyber Monday, then the week will get topped off with the monthly jobs report.!
Last week the FDIC released a report which stated the number of troubled banks rose to 552 at the end of September from 416 at the end of June and 305 at the end of March- the largest number of banks on its “problem list” since the end of 1993. The DIF which is used to protect depositors, swung to an $8.2 billion loss in the third quarter, the largest drop since the savings-and-loan crisis of the 1990s. As a result of the loss, the agency was forced to dip into its contigency fund, which has dropped to $30.7 billion from $38.9 billion.
This Week News worthy-
Dubai’s Financial crisis and debt (lots to choose from here’s a few)
- We get turkey leftovers as the Senate returns for the gobblers to start the debate on Health Care Reform with the Public Option and Abortion issue as the main course in focus
- President Obama will address the nation in prime time on Tuesday night with expectations he shall announce his decisions on Afghanistan
- Fed Chairman Ben Bernanke will face a Senate hearing on a nomination to a second term (see=>WSJ- Bernanke Offers Broad Definition of Systemic Risk
- The right reform for the Fed By Ben Bernanke Sunday, November 29, 2009 (very unusual, an op-ed done right before he is to appear)
- U.S. Treasury to Push Lenders to Finish More Home Modifications
Scheduled Events
Monday, November 30
• Chicago PMI-4-Week Bill Announcement-3-Month Bill Auction-6-Month Bill Auction-Farm Prices 3:00 PM ET
Tuesday, December 1
• Construction spending• ISM Index• Pending home sales• Auto and truck sales-4-Week Bill Auction
Wednesday, December 2
• ADP employment report• Fed Beige Book-
Thursday, December 3
Ben Bernanke on the Hill• Jobless claims• Productivity• ISM Services-30-Yr Bond Announcement-3-Month Bill Announcement-6-Month Bill Announcement- 3-Yr/10 Yr Note Announcement- Fed Balance Sheet and Money Supply 4:30pm ET
Friday, December 4
• Nonfarm payrolls
• Factory orders
Top Buys/Sells Last 30 Days
Major Corporate Reports in Focus~~
Monday=NRGY NWPX - GES OVTI ZOLT
Tuesday=BECN LDR TUTR SPLS UTI - CPRT GAME SNDA
Wednesday=CHRS ISLE PTRY SYNO - ARO PSS DDMX JAS SEAC SIGM SNPS
Thursday= APWR STST CUB DLM FLOW MOV TOL UTIW - AVAV ARST AVGO CRI CMTL DMND LQDT MRVL MENT NOVL OHB ULTA
Friday= BIG SIRO
HIGHLIGHTS~
*Monday: Black Friday passes and we dash to Cyber Monday, the big online shopping day that follows the long Thanksgiving weekend. The Chicago PMI, a regional read on manufacturing, is due out shortly after the start of trading. The index is expected to have fallen to 53 from 54.2 in October.
*Tuesday: The ISM Manufacturing index is the standout on a busy day for economic news. The index is expected to have fallen to 54.8 from 55.7 in October. Construction spending for October is expected to have fallen 0.4% after rising 0.8% in September. The pending home sales index for October is expected to have fallen 0.5% after rising 6.1% in the previous month. Also on tap: reports on November auto and truck sales. On Tuesday evening, President Obama is expected to announce his strategy on Afghanistan in a speech given at West Point, N.Y.
*Wednesday: Payroll services firm ADP releases its survey on private-sector employment shortly before the start of trading. Employers in the private sector are expected to have cut 148,000 jobs from their payrolls in November, after cutting 203,000 in the previous month. Challenger, Gray & Christmas will also release its November report on planned job cut announcements in the morning. In the afternoon, the Fed releases its periodic "beige book" report on the economy.
*Thursday: The weekly jobless claims report from the Labor Department is due before the start of trading. Approximately 483,000 Americans are expected to have filed new claims for unemployment, up from 466,000 the previous week. Continuing claims - a measure of people who have been receiving benefits for a week or more - is expected to have risen to 5,517,000 from 5,423,000 the previous week. The nation's retailers release their sales figures for November in the early morning. The figures will include the critical Black Friday period. At 10 a.m. ET the Senate Banking Committee holds a confirmation hearing on Ben Bernanke's second term as Federal Reserve Chairman. The revised reading on third-quarter productivity, the third-quarter employment cost index and the November ISM services sector index are all due as well.
***Friday: The November employment report from the Labor Department is the biggest economic report of the week. Employers are expected to have cut 114,000 jobs from their payrolls in the month after cutting 190,000 in the previous month. The unemployment rate, generated by a separate survey, is expected to hold steady at 10.2%, unchanged from October. The October factory orders report is due out after the start of trading. Orders are expected to have risen 0.1% after rising 0.9% in September.
Insiders Selling into the Rally
November 30, 2009
The trend in high levels of insider selling and low levels of insider buying remain unchanged this week as executives continue to sell into the rally. Of course, they’re not the only smart money that is now selling into the rally. Institutions recently turned neutral on markets after having been bullish on equities for the last 6 months.
For the latest week insiders sold $841.9MM worth of stock while buying just $37.7MM. Notable sales include sales from Goldman Sachs executives: charts