Friday, July 17, 2009

Where do we go from here?

We might be making a run here.
I think we are on the verge of a run. I just want to hang tough and make right decisions.
I got little good news over the last week.
We will see the closure this week.
Life is not bad after all.
CEMJQ is not moving. I am surprised that FNM is sticking around the $ .59 mark.

I am hoping for something big from TPUT and VSTN. I just hope that i am right on these stocks.
Again, It's very hard to predict what is going to happen in the next month.



NEW YORK (AP) -- Investors are betting that the stock market has restarted its spring rally. Stocks ended little changed Friday but held onto an enormous gain for the week. Investors are looking to another flood of corporate earnings reports next week to provide more signs that the economy is healing.
The Dow Jones industrials and the Standard & Poor's 500 index posted their best weekly performance since early March, when the market's spring rally began. Major stock indexes rose about 7 percent for the week.

WASHINGTON (AP) -- Construction of new U.S. homes rose in June to the highest level in seven months as builders rushed to pour foundations for homes that must be completed by the end of November for first-time buyers to take advantage of a special tax break. The Commerce Department said Friday that construction of new homes and apartments jumped 3.6 percent last month to a seasonally adjusted annual rate of 582,000 units, from an upwardly revised rate of 562,000 in May. It was better than the 530,000-unit pace economists expected, and was the second straight monthly increase after April's record low of 479,000 units.

- CHARLOTTE, N.C. (AP) -- Bank of America joined other major banks in reporting better-than-expected second quarter income Friday, earning $2.42 billion even as losses from failed loans continued to rise. The results, which included $713 million of dividend payments tied to a federal bailout, compared with profits after preferred dividends of $3.22 billion in the same three-month period a year ago. Earnings per share, which reflected a much higher amount of shares outstanding, fell to 33 cents from 72 cents. That was well ahead of the 28 cents per share forecast of analysts surveyed by Thomson Reuters.

- JAKARTA, Indonesia – Suicide bombers posing as guests attacked American luxury hotels in Indonesia's capital and set off a pair of blasts Friday that killed eight people and wounded more than 50, authorities said.
The bombings, which came two minutes apart, ended a four-year lull in terror attacks in the world's most populous Muslim nation. At least eight Americans were among the wounded.
The blasts at the high-rise J.W. Marriott and Ritz-Carlton hotels, located side-by-side in an upscale business district in Jakarta, blew out windows and scattered debris and glass across the street, kicking up a thick plume of smoke. An Associated Press reporter saw bodies being carried away in police trucks. The attackers evaded hotel security, smuggling explosives into the Marriott and assembling the bombs in a room on the 18th floor, where an undetonated device was found after the explosions. The bombers had stayed at the hotel for two days and set off the blasts in restaurants at both hotels.

- WASHINGTON (AP) -- Unemployment topped 10 percent in 15 states and the District of Columbia last month, according to federal data released Friday. The rate in Michigan surpassed 15 percent, the first time any state hit that mark since 1984.
The Federal Reserve this week projected that the national unemployment rate, currently at a 26-year high of 9.5 percent, will pass 10 percent by the end of the year. Most Fed policymakers said it could take "five or six years" for the economy and the labor market to get back on a path of long-term health. To get there, consumers must return to a regular spending groove and housing prices need to start rising again. Home to America's struggling auto makers, Michigan has been clobbered by lost factory jobs. Its jobless rate of 15.2 percent in June was the highest in the U.S.

- NEW YORK (AP) -- Investors extended Wall Street's rally Monday on more upbeat earnings and reports that commercial lender CIT Group has a deal with key bondholders that will help it avoid bankruptcy. Major indexes rose about 0.5 percent in early trading Monday, and both the Dow Jones industrials and the Standard & Poor's 500 index briefly surpassed multimonth highs hit in mid-June. The CIT news helped stoke the market's newfound optimism that was fed last week by a string of good earnings news. The Dow and the S&P 500 are coming off their best weekly performance since the market's spring rally began in March.

- NEW YORK (AP) -- More plans to build homes, higher stock prices and fewer people filing first-time claims jobless aid sent a private-sector forecast of U.S. economic activity higher than expected in June. It was the third straight monthly increase for the New York-based Conference Board's index of leading economic indicators, and another sign pointing toward the recession ending later this year. The index rose 0.7 percent last month. Wall Street analysts polled by Thomson Reuters expected a gain of 0.4 percent.

- In his final act at the home of cricket, Andrew Flintoff broke England's 75-year Lord's curse with his first five-wicket haul since the Ashes-clinching Oval Test of 2005. It was, unquestionably, a performance that will enhance his already mythical status within English cricket, but more pertinently for now, delivered England to a 1-0 series lead heading into Edgbaston. Victory was sealed 17 minutes before lunch when Graeme Swann, another major contributor on Monday, pegged back Mitchell Johnson's middle stump with the Australian total at 406. The wicket prompted scenes of jubilation not witnessed at Lord's in decades, and a collective furrowing of brows in the Australian dressing rooms as the series momentum shifted sharply in the hosts' favour.

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