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Jim Cramer's "Mad Money" show Friday evening was a rebroadcast/repeat of a previous show that last aired on Dec. 31, 2010. Title: Long-Term Investing RevisitedReference Link :theflyonthewall.com
News For NOSYMBOL From The Last 14 DaysCheck below for free stories on NOSYMBOL the last two weeks. There are 474 items on the Fly with pertinent information.
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Euro weakens on Greek debt concerns; oil, copper, wheat decline, Bloomberg saysThe Euro weakened against the dollar for the first time in three days as concerns grow regarding Europe debt crisis and a slowing global recovery, Bloomberg says. Reference Link :theflyonthewall.comBCC pushes back BOE rate forecast on lower U.K. growth estimate, Bloomberg says Euro weakens on Greek debt concerns; oil, copper, wheat declineThe Euro weakened against the dollar for the first time in three days as concerns grow regarding Europe debt crisis and a slowing global recovery, Bloomberg says. Reference Link :theflyonthewall.comBarron?s suggests Europe should make Greece swifty restructure its debtBarron's Foreign Editor Vito Racanelli offers solutions to help solve Greece's debt crisis. Suggests Greece be allowed to delay its debt and reduce payments to bond holders. The choice for Greece's bondholders, as Barron's see it, is to accept 50c on the euro now -- or 30c or worse down the road. Reference Link :theflyonthewall.com
Employment Situation Private Payrolls to be reported at 08:30 ETMay Employment Situation Private Payrolls will be reported at 08:30 ET. Current consensus is 210,000 for the month :theflyonthewall.comEmployment Situation Unemployment Rate to be reported at 08:30 ETMay Employment Situation Unemployment Rate will be reported at 08:30 ET. Current consensus is 8.9% :theflyonthewall.comProductivity and Costs Nonfarm productivity to be reported at 08:30 ETProductivity and Costs Nonfarm productivity will be reported at 08:30 ET. Current consensus is 1.7% for the quarter :theflyonthewall.comU.S.: China?s progress on letting yuan rise "insufficient", Bloomberg saysEgypt shares advance to two-month high on G-8 North Africa aid, Bloomberg says Greece?s Papandreou vows to move ahead with austerity steps, Bloomberg says Market drifts near session highsThe averages remain near session highs, but have drifted over the past hour. The volume should slow over the next couple of hours as investors leave for the holiday weekend. With lower volume, stocks have the ability to have larger swings in prices. The market could also be subject to a sell-off as investors take off positions prior to leaving. In addition the month will end on Tuesday, leading portfolio managers to clean up their positions. :theflyonthewall.comThe market moved in a narrow range for the first hour of trading, but spurted higher in the second. The dollar moved lower, following bullish comments on Greece. The weakened dollar brought strength to commodities, and equities followed. The market received virtually no help from the day?s economic data, which underscored the current soft-patch in the economy. The Dow is up 66 points, the Nasdaq is up 16 points, and the S&P is up 8 points. :theflyonthewall.comThe market opened moderately higher and drifted further to the upside in the opening minutes. The market then began to lose some steam ahead of the University of Michigan Consumer Confidence reading, but when it came out above expectations the market spurted higher. The move only lasted a few minutes, as the confidence reading was followed by the pending home sales report which was down 11.2% from the prior month versus analyst?s expectations of a decline of 1.0%. The Dow is up 21 points, the Nasdaq is up 6 points and the S&P is up 3 points. :theflyonthewall.comPending Home Sales Index data reportedApril Pending Home Sales Index at 81.9 :theflyonthewall.comConsumer Sentiment Index data reportedMay Consumer Sentiment Index at 74.3 vs. consensus of 72.5 :theflyonthewall.comPersonal Income and Outlays Core PCE price index data reportedApril Personal Income and Outlays Core PCE price index up 0.2% vs. consensus of 0.2% for the month :theflyonthewall.com
June front month equity options expire, June 17, 2011 Fed Balance Sheet Total Assets data reportedWeek of 5/25 Fed Balance Sheet Total Assets at $16.9B :theflyonthewall.comMoney Supply M2 Weekly Change data reportedWeek of 5/16 Money Supply M2 Weekly Change at $10.4B :theflyonthewall.comWeek of 6/3 EIA Natural Gas Report to be released at 10:30 ETMarket internals turn positiveEach of the major indices is back in positive territory. The Nasdaq is the biggest winner, up more than 0.6%. Advancing stocks are ahead of declining stocks by 3:2, and up volume is ahead of down volume by the same margin. Oil prices are lower by 0.75%, gold is down 2.1% and silver is down 0.55%. The Dow is up 3 points to 12,397, the Nasdaq is up 17 points to 2,779 and the S&P is up 3 points to 1,323. :theflyonthewall.comApril International Trade to be released at 08:30 ETHouse Natural Resources Committee to hold a hearingThe Subcommittee on Fisheries, Wildlife, Oceans and Insular Affairs holds an oversight hearing entitled, "Buying More Land When We Can?t Maintain What We Already Own: The National Wildlife Refuge System?s Operations and Maintenance Backlog Story". Participants include U.S. Fish & Wildlife Service Acting Assistant Director Kurth, Director Recce of the National Rifle Association on May 26 at 1 pm. Webcast Link :theflyonthewall.comThe averages have moved sideways over the past hour. The market weakness began following a reversal of the euro, which was stronger early in the session but fell following renewed Greek debt concerns. The dollar strengthened, spurring commodities to sell, and then stocks. The market has since found a level, and has remained in a narrow range. The Dow is down 59 points, the Nasdaq is flat and the S&P is down 4 points. :theflyonthewall.comSenate Agriculture, Nutrition and Forestry Committee to hold a hearingThe Committee holds a hearing entitled, "Food for Thought: The Role, Risks and Challenges for American Agriculture and the Next Farm Bill in Meeting the Demands of a Growing World" with Secretary of Agriculture Vilsack on May 26 at 10 am. Webcast Link :theflyonthewall.comHouse Education and Workforce Committee to hold a hearingThe Subcommittee on Health, Employment, Labor and Pensions holds a hearing entitled, "Corporate Campaigns and the NLRB: The Impact of Union Pressure on Job Creation" with Jonathan Fritts, partner at Morgan Lewis of Washington, D.C., President Karnas of Lone Sun Builders, President Bego of Executive Management Services on May 26 at 10 am. Webcast Link :theflyonthewall.comHouse Homeland Security Committee to hold a hearingThe Subcommittee on Cybersecurity, Infrastructure Protection and Security Technologies holds a hearing entitled, "Unlocking the SAFETY Act's Potential to Promote Technology and Combat Terrorism". Participants include Under Secretary O'Toole of the Department of Homeland Security and Vice President Boylan of Morpho Detection on May 26 at 10 am. Webcast Link :theflyonthewall.comHouse Financial Services Committee to hold a hearingThe Financial Institution and Consumer Credit Subcommittee holds a hearing entitled, "FDIC Oversight: Examining and Evaluating the Role of the Regulator During the Financial Crisis and Today" with Chairperson Bair of the FDIC on May 26 at 9:30 am. Webcast Link :theflyonthewall.comGDP price index up 1.9% vs. consensus of 1.9% for the quarter :theflyonthewall.comSterne, Agee & Leach to host a conferenceConsumer Conference 2011 is being held in Dallas on May 26. :theflyonthewall.comJMP Securities to host a field tripBermuda Insurance Field Trip is traveling through Hamilton, Bermuda on May 26. :theflyonthewall.comSoftware and Information Industry Association to host a conferenceAll About the Cloud Conference is being held in San Francisco on May 23-26. :theflyonthewall.comDeutsche Bank to host a conference2nd Annual DB Access Asia Conference is being held in Singapore on May 23-26. :theflyonthewall.comRegulators want to restrict foreign governments' U.S. investments, WSJ reportsRegulators in the U.S. want to subject foreign central banks, sovereign wealth funds and organizations like the World Bank to U.S. rules to reduce risk in the financial system, reports the Wall Street Journal. Reference Link :theflyonthewall.comNational Association of Publicly Traded Partnerships to host a conferenceISE Sentiment Index-ISEE closed at 119; 10-day moving average is 102On The Fly: Morning Wrap-Up for May 26Globex S&P futures are recently down 3.00 from previous day's SPX cash close. Nikkei 225 down 1.48%, DAX 30 down 0.33%. WTI Crude oil is recently at $100.96, copper down 0.12%, silver down 0.83% and gold is at $1522 an ounce. :theflyonthewall.comHouse Homeland Security Committee to hold a hearingThe Subcommittee on Cybersecurity, Infrastructure Protection and Security Technologies holds a hearing entitled, "Unlocking the SAFETY Act's Potential to Promote Technology and Combat Terrorism". Participants include Under Secretary O'Toole of the Department of Homeland Security and Vice President Boylan of Morpho Detection at the hearing being held on May 26 at 10 am. Webcast Link :theflyonthewall.comBioLogic Equity's analyst research team to hold a conference callBioLogic's analyst research team discusses the competitive landscape in surgical robotics with a specific focus on a novel robotic surgical system for uni-compartmental and bi-compartmental knee arthroplasty on an Analyst/Industry conference call to be held on May 26. :theflyonthewall.comSenate Finance Committee to hold a hearingThe Subcommittee on Fiscal Responsibility and Economic Growth holds a hearing entitled, "The Spread of Tax Fraud by Identity Theft: A Threat to Taxpayers, A Drain on the Public Treasury" on May 25 at 2 pm. Webcast Link :theflyonthewall.comThe House Committee on Foreign Affairs holds a hearingThe Subcommittee on Oversight and Investigations holds a hearing entitled, "UN Climate Talks and Power Politics: It's Not About the Temperature" on May at at 2:30 pm. Webcast Link :theflyonthewall.comHouse Oversight and Government Reform Committee to hold a hearingThe Subcommittee on National Security, Homeland Defense and Foreign Operations holds a hearing entitled, "Cybersecurity: Assessing The Immediate Threat to the U.S." with President Bond of TechAmerica, Director of Global Intelligence Network Symantec Security Response, Dean Turner on May 25 at 3 pm. Webcast Link :theflyonthewall.comFHFA House Price Index Y/Y change data reportedMarch FHFA House Price Index Y/Y change down -5.8% for the year :theflyonthewall.comMarket move falls short of positive groundThe market opened lower, but almost immediately began to recoup its losses. The averages almost made it back positive territory, but fell short and began to move lower once again. The House price Index report was released, showing home prices fell 0.3%, which was slightly better than expectations. The Dow is down 33 points, the Nasdaq is down 1 point and the S&P is down 1 point. :theflyonthewall.comPeterson Foundation to host fiscal summit2011 Fiscal Summit is being held on May 25 at 9:30 am. Webcast Link :theflyonthewall.comSenate Finance Committee to hold a hearingThe Committee holds a hearing on the U.S.- Panama Trade Promotion Agreement with Ambassador Sapiro, Deputy U.S. Trade Representative for Europe, Middle East and the Americas and Vice President Niemeyer of the National Corn Growers Association on May 25 at 10 am. Webcast Link :theflyonthewall.comSenate Appropriations Committee to hold a hearingThe Financial Services Subcommittee holds a hearing entitled, "Creating Jobs and Transforming Communities: Funding for the Small Business Administration and the Community Development Financial Institutions Fund" with Administrator Mills of the Small Business Administration on May 25 at 10 am. Webcast Link :theflyonthewall.comDurable Goods Orders data reportedApril Durable Goods Orders up 5.3% for the year :theflyonthewall.comDurable Goods Orders data reportedApril Durable Goods Orders down -3.6% vs consensus of -3.0% for the month :theflyonthewall.comSenate Homeland Security and Governmental Affairs Committee to hold a hearingSenate Homeland Security and Governmental Affairs Committee to hold a hearingSenate Energy and Natural Resources Committee to hold a hearingThe Public Lands and Forests Subcommittee holds a hearing to receive testimony on S. 233, to withdraw certain Federal land and interests in that land from location, entry and patent under the mining laws and disposition under the mineral and geothermal leasing law on May 25 at 2:30 pm. Webcast Link :theflyonthewall.comThe Cato Institute holds a discussionFormer Minnesota Governor Tim Pawalenty discusses his work to limit the size of Minnesota's government, provides specific ideas on how Congress should cut spending and reduce the size of the federal government in a speech entitled, "Limiting Government: What Washington Can Learn from Minnesota". The discussion is being held at The Cato Institute in Washington, D.C. on May 25 at 2 pm. Webcast Link :theflyonthewall.comAmerican Enterprise Institute holds a discussionPanel discussion weighs the pros and cons of hydraulic fracturing, a technology that is either a saving energy grace or a troubling new threat to environmental quality is being held on May 25 at 1 pm. Webcast Link :theflyonthewall.comSenate Homeland Security and Governmental Affairs Committee to hold a hearingThe Committee holds a hearing entitled, "How to Save Taxpayer Dollars: Case Studies of Duplication in the Federal Government". Participants include Comptroller General Dodaro of the Government Accountability Office at the hearing being held on May 25 at 10 am. Webcast Link :theflyonthewall.comWells Fargo to host a conferenceConsumer, Gaming & Lodging Conference is being held in Las Vegas on May 23-25 with company presentations to begin on May 25 at 11:30 am; not all presentations may be webcasted. Webcast Link :theflyonthewall.comNational Association of Publicly Traded Partnerships to host a conferenceJP Morgan to host a conferenceConsumer & Retail Corporate Access Days Conference is being held in London on May 24-27. :theflyonthewall.comAnnual Healthcare Services 101 Day is being held in New York on May 25 at 10 am. :theflyonthewall.comWolfe Trahan & Co to host a conferenceGlobal Transportation Conference is being held in New York on May 25-26. :theflyonthewall.comThinkEquity to host a conference2nd Annual Healthcare Conference: A Mid Year Check Up is being held in New York on May 25. :theflyonthewall.comHart Energy to host a conference2nd Annual Developing Unconventional Oil Conference & Exhibition is being held in Denver on May 23-25. :theflyonthewall.comGlobal Oil and Gas Conference is being held in Austin, Texas on May 23-26 with webcasted company presentations to begin on May 25 at 8:30 am; not all presentations may be webcasted. Webcast Link :theflyonthewall.comDeutsche Bank to host a conference2011 Retail 1:1 Conference is being held in San Francisco on May 24-25. :theflyonthewall.comGlobal Communications, Media & Technology Conference is being held in New York on May 24-25. :theflyonthewall.comMBA Purchase Applications Index data reportedWeek of 5/20 MBA Purchase Applications Index up 1.5% for the week :theflyonthewall.comApril Consumer Credit to be released at 15:00 ETFrance's Christine Lagarde to announce candidacy for IMF's top job, CNBC saysThe averages have barely moved in the past hour as the news flow has slowed to a trickle. Despite the lack of news, the underlying problems of the market persist. The European debt problems remain, as do slowing U.S. and China economies. Commodity prices have also had a lack luster day after beginning the session much higher. The volume is light, which is not surprising given the narrow trading range of today?s action. The Dow is down 6 points, the Nasdaq is down 8 points and the S&P is down 1 point. :theflyonthewall.comWeek of 6/4 Redbook to be released at 08:55 ETWeek of 6/4 ICSC-Goldman Store Sales to be released at 07:45 ETMarket higher but unable to buildThe averages opened slightly higher, but have been unable to build any sustained momentum. They received a boost following the new home sales report which showed new home sales increased 7.3% to 323K units. Analysts had predicted 300K units. The market spurted higher, but the move was short-lived as the Richmond Fed manufacturing survey provided additional evidence of an economic soft patch showing a reading of -6 versus the expected reading of +9. :theflyonthewall.comHouse Foreign Affairs Committee to host a hearingThe Subcommittee on Asia and the Pacific holds a hearing entitled, "The Future of Japan" with the Ambassador of Japan to the U.S., Ichiro Fujisaki, Randall Schriver, partner in Armitage International and Senior Adviser Michael Green for the Center for Strategic and International Studies on May 24 at 2 pm. Webcast Link :theflyonthewall.comHouse Financial Services Committee to hold a hearingThe International Monetary Policy and Trade Subcommittee holds a hearing entitled, "Legislative Proposals on Securing American Jobs Through Exports: Export-Import Bank Reauthorization". Participants include Chairman and President Hochberg of the Export-Import Bank of the U.S., Deputy Chief of Staff Lee of the AFL-CIO and CEO Alexander of BAFT-IFSA on May 24 at 2 pm. Webcast Link :theflyonthewall.comHouse Financial Services Committee to hold a markupThe Committee holds a markup hearing of H.R. 1573, To facilitate implementation of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, promote regulatory coordination and avoid market disruption on May 24 at 10 am. Webcast Link :theflyonthewall.comHouse Judiciary Committee to hold a hearingThe Subcommittee on the Constitution holds a hearing entitled, "Can We Sue Our Way to Prosperity?: Litigation's Effect on America's Global Competitiveness" on May 24 at 2 pm. Webcast Link :theflyonthewall.comHouse Oversight and Government Reform Committee to hold a hearingThe Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs holds a hearing entitled, "Who's Watching The Watchmen? Oversight Of The Consumer Financial Protection Bureau". Participants include Assistant to the President Elizabeth Warren at the hearing being held on May 24 at 2 pm. Webcast Link :theflyonthewall.comSenate Homeland Security and Governmental Affairs Committee to hold a hearingFederal Reserve Bank of Philadelphia President Plosser to speak at conferencePresident Plosser of the Federal Reserve Bank of Philadelphia speaks at the 29th Annual Monetary Trade Conference being held in Philadelphia on May 24 at 9:50 am. :theflyonthewall.comFederal Reserve Bank of Kansas City President Hoenig to speak at conferenceSenate Judiciary Committee to hold a hearingThe Subcommittee on Crime and Terrorism holds a hearing entitled, "responding to the Prescription Drug Epidemic: Strategies for Reducing Abuse, Misuse, Diversion and Fraud" on May 24 at 9 am. Webcast Link :theflyonthewall.comJP Morgan to host a conferenceConsumer & Retail Corporate Access Days Conference is being held in London on May 24-27. :theflyonthewall.comBarrington to host a conferenceIndustrial and Business Services Conference is being held in Chicago on May 24-25. :theflyonthewall.comInformation Management Network to host a forum2nd Forum on Financing, Investing & Real Estate Development is being held in Chicag on May 23-24. :theflyonthewall.comJP Morgan to host a conferenceHomebuilding and Building Products Conference is being held in Chicago on May 24-25. A CEO Power Panel will start the conference at 9 am followed by webcasted company presentations at 10:30 am on May 24; not all company presentations may be webcasted. Webcast Link :theflyonthewall.comGlobal Specialty Pharmaceuticals Conference is being held in London on May 24-25 with webcasted company presentations to begin on May 24 at 5 am; not all company presentations may be webcasted. Webcast Link :theflyonthewall.comICSC-Goldman Store Sales data reportedWeek of 5/21 ICSC-Goldman Store Sales down -1.0% for the week :theflyonthewall.comCitigroup to host a conferenceGlobal Consumer Conference is being held in New York on May 24-25. :theflyonthewall.comWashington Journal holds a discussionSenator Lee (R-UT), Member of the Joint Economic Committee, discusses the Debt ceiling, how negotiations are progressing, what compromises he would like to see made, such as his balanced budget amendment, on the Washington Journal, May 24 at 7:45 am. Webcast Link :theflyonthewall.comMay Treasury STRIPS to be released at 15:00 ETLittle lift seen during the sessionThe market remains sharply lower and continues to trade in a narrow range. There has been little in the way of positive news to attract anybody but sellers. The lone economic report was disappointing and added to the selling pressure. Tomorrow there will be little on the economic calendar, except for data on new home sales and manufacturing data from the Richmond Fed. :theflyonthewall.comEuropean woes push market lowerThe averages have been drifting lower since the open. The move has been broad-based as the European debt crisis weighs on the market. In addition to the debt crisis, the ruling Socialist part in Spain had big losses in weekend elections. It is possible the losses are a fall out from the continued concern of debt obligations of the country. Despite the effort of Greece in cutting its deficit, its debt was downgraded once again on Friday, raising concern about the impact on the Eurozone economy. :theflyonthewall.comMarket moves in narrow range during opening hourThe market opened sharply lower and has been unable to gather any upside momentum. The averages have been in a narrow trading range for the first hour, as European debt concerns have investors worrying about a possible spread throughout the continent. There is also concern about a slowdown in growth in China, following a manufacturing report which showed local manufacturers were seeing a slowdown. Domestically, the Chicago Fed national Activity Index had a negative reading of 0.45 vs. expectations of a positive 0.20. :theflyonthewall.comHouse Judiciary Committee to hold a hearingThe Subcommittee on Courts, Commercial and Administrative Law holds a hearing entitled, "H.R. 1860, the Digital Goods and Services Tax Fairness Act of 2011" on May 23 at 4 pm. Webcast Link :theflyonthewall.comSenate Homeland Security and Governmental Affairs Committee to hold a hearingAmericas Select Conference is being held in London, England on May 23-24. :theflyonthewall.comAmericas Select Conference is being held in London, England on May 23-24. :theflyonthewall.comSecurity Research Associates to host a conference7th Annual Spring Growth Stock Conference is being held in San Francisco on May 23-24. :theflyonthewall.comBofA/Merrill to host a field tripInvestor Trip: Turkey, Russia & CEE Real Estate travels throughout Moscow and St. Petersburg, Russia on May 23-25. :theflyonthewall.comGlobal Oil and Gas Conference is being held in Austin, Texas. The welcome reception/dinner is on May 23 with webcasted company presentations to be held on May 24-26. :theflyonthewall.comOn The Fly: Morning Wrap-Up for May 23Globex S&P futures are recently down 11.40 from previous day's SPX cash close. Nikkei 225 down 1.52%, DAX 30 down 1.84%. WTI Crude oil is recently at $97.42, copper down 2.81%, silver down 1.00% and gold is at $1510 an ounce. :theflyonthewall.comISE Sentiment Index-ISEE closed at 186; 10-day moving average is 107Rep Ryan: U.S.debt limit agreement may take until August, Bloomberg reportsRepublican chairman of the U.S. House Budget Committee, Paul Ryan, Republican from Wisconsin, said a congressional accord to increase the U.S. debt limit and reduce federal spending may take till August, reports Bloomberg, citing a a statement made on NBC?s ?Meet the Press". Reference Link :theflyonthewall.comPersonal Income and Outlays Core PCE price index to be reported at 08:30 ETApril Personal Income and Outlays Core PCE price index will be reported at 08:30 ET. Current consensus is 0.2% for the month :theflyonthewall.comReal GDP to be reported at 08:30 ETReal GDP will be reported at 08:30 ET. Current consensus is 2.1% for the quarter :theflyonthewall.comDeutsche Bank to host a conferenceGerman & Austrian Corporate Conference is being held in Frankfurt, Germany on May 19-20. :theflyonthewall.comMay front month equity options expire today, May 20, 2011 Week of 6/1 Fed Balance Sheet to be released at 16:30 ETMoney Supply M2 Weekly Change data reportedWeek of 5/9 Money Supply M2 Weekly Change at -$8.6B :theflyonthewall.comWeek of 5/27 EIA Petroleum Status Report to be released at 11:00 ETJP Morgan's internet and media analysts hold a conference callMedia Analysts Meltz and Quadrani, along with Interent Analyst Anmuth discuss their takeaways from the recently held JP Morgan TMT Conference on an Analyst/Industry conference call being held on May 20 at 9 am hosted by JP Morgan. :theflyonthewall.comEIA Natural Gas Storage Change for the week ending May 23Gas Inventories 92 Bcf build vs. consensus of 90 Bcf build. :theflyonthewall.comThe market opened higher and added to its gains in the first half hour of trading. There was a trio of economic reports released, including the existing home sales, leading economic indicators and Philadelphia Fed manufacturing survey. Existing home sales were 5.05M versus the expected 5.2M units. The leading economic indicators fell 0.3% versus the expected increase of 0.1%. The manufacturing survey had a reading of 3.9 versus the expected reading of 20.0. Investors saw the reports and began selling into the opening strength. :theflyonthewall.comExisting Home Sales data reportedApril Existing Home Sales at 5.05M vs. consensus of 5.2M :theflyonthewall.comSenate Banking, Housing and Urban Affairs Committee to hold a hearingThe Committee holds a hearing entitled, "Public Transportation: Priorities and Challenges for Reauthorization with FTA Administrator Rogoff, American Public Transportation Association President Millar and Community Transportation Association Executive Director Marsico on May 19 at 10 am. Webcast Link :theflyonthewall.comThe Heritage Foundation holds a discussionDiscussion entitled, "How Should Washington Control Medicare Spending?" is being held at the Lehrman Auditorium in Washington, D.C. on May 19 at 11 am. Webcast Link :theflyonthewall.comSenate Homeland Security and Governmental Affairs Committee to hold a hearingThe Brookings Institution to host a discussionThe Brookings Institution and China's Caixin Media hosts a discussion which examines the substance and prospects for economic restructuring in China and the U.S. over the next five years and the impact on their bilateral relationship. Zhu Min, Special Advisor to the Managing Director of the International Monetary Fund, will give a keynote address. The discussion is being held in Washington, D.C. on May 19 at 9 am. :theflyonthewall.comThe CFTC's Commissioner Michael Dunn, who serves as the Chairman of the CFTC's Agricultural Advisory Committee, holds a meeting to obtain the views of agricultural futures market experts, national farm organizations, major commodity and agribusiness groups and the farm banking community. The major topics for discussion will be issues related to the Dodd-Frank Act, including position limits, hedge exemptions, the swap dealer definition, the end user exception and margin requirements for uncleared swaps. The meeting is being held at CFTC Washington, D.C. offices on May 19 at 9 am. Webcast Link :theflyonthewall.comWeek of 5/14 Jobless Claims at 409K vs. consensus of 425K :theflyonthewall.comCollins Stewart to host a field tripSeoul Field Trip is traveling through Seoul on May 17-19. :theflyonthewall.comNordic Consumer Symposium is being held in Stockholm, Sweden on May 18-19. :theflyonthewall.comDeutsche Bank to host a conferenceGerman & Austrian Corporate Conference is being held in Frankfurt, Germany on May 19-20. :theflyonthewall.comOppenheimer to host a conference5th Annual China Dragon Call Conference is being held in New York on May 17-19. :theflyonthewall.comNational Council for Prescription Drug Programs to hold a conference2011 Annual Technology & Business Conference is being held in Phoenix on May 15-19. :theflyonthewall.comCitigroup to host a conference12th Annual Non-Profit Hospital Conference is being held in New York on May 18-19. :theflyonthewall.comThe Heritage Foundation holds a discussionDiscussion entitled, "How Should Washington Control Medicare Spending?" is being held in Washington, D.C. on May 19 at 11 am. Webcast Link :theflyonthewall.comApril Construction Spending to be released at 10:00 ETMost Fed members want to raise rates before agency securities salesThe Fed minutes show, "A majority of participants preferred that sales of agency securities come after the first increase in the FOMC?s target for short-term interest rates, and many of those participants also expressed a preference that the sales proceed relatively gradually, returning the SOMA?s composition to all Treasury securities over perhaps five years." :theflyonthewall.comFOMC members want to cease reinvesting payments first, minutes showThe FOMC said in its minutes, "Nearly all participants indicated that the first step toward normalization should be ceasing to reinvest payments of principal on agency securities and, simultaneously or soon after, ceasing to reinvest principal payments on Treasury securities." :theflyonthewall.comMay ADP Employment Report to be released at 08:15 ETAverages back in positive territoryThe averages have remained near the flat line since the open. Currently each is in positive territory, but just barely. There has been little in the way of news to lure investors into buying. With the market lower the past four of five trading sessions, the averages being in positive territory is a victory. Seeing how long they can stay there will be interesting. The Dow is up 13 points, the Nasdaq is up 14 points and the S&P is up 5 points. :theflyonthewall.comSenate Appropriations Committee to hold a hearingThe Energy and Water Subcommittee holds a hearing on the FY12 Department of Energy budget request with Energy Secretary Chu on May 18 at 2:30 pm. Webcast Link :theflyonthewall.comSenate Commerce, Science and Transportation Committee to hold a hearingThe Science and Space Subcommittee holds a hearing on the contributions of space to national imperatives with the CEO of The Space Foundation, Elliot Pulham and the Vice President of the Aerospace Industries Association, Frank Slazer on May 18 at 10:30 am. Webcast Link :theflyonthewall.comSenate Armed Services Committee to hold a hearingThe Readiness and Management Support Subcommittee holds a hearing to receive testimony on the current material readiness of U.S Forces in review of the defense authorization request for FY 2012 and the future years defense program on May 18 at 10 am. Webcast Link :theflyonthewall.comThe SEC holds an open commission meetingThe Commission considers whether to propose new rules and amendments to existing rules to implement provisions of Subtitle C of Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act that would apply to credit rating agencies registered with the Commission as nationally recognized statistical rating organizations, providers of third-party due diligence services for asset-backed securities, and issuers and underwriters of asset-backed securities. The meeting is being held at SEC Washington, D.C. offices on May 18 at 10 am. Webcast Link :theflyonthewall.comAmerican Enterprise Institute holds a discussionSenator Toomey (R-PA) and Rep. McClintock (R-CA) hold a discussion entitled, "The Debt Limit and Correcting the Country's Unsustainable Fiscal Path" and other issues surrounding the forthcoming debt-limit debate in Congress, including how to bring about more comprehensive solutions to the country's fiscal problems and put the U.S. on the path to prosperity. The discussion is being held at AEI's offices in Washington, D.C. on May 18 at 10 am. Webcast Link :theflyonthewall.comSenate Homeland Security and Gov't Affairs Committee holds business meetingAmerican Society of Colon & Rectal Surgeons to hold annual meetingASCRS 2011 Annual Meeting is being held in Vancouver, British Columbia on May 14-18. :theflyonthewall.comCitigroup to host a conferenceAndean Conference is being held in London on May 18-19. :theflyonthewall.comFitch Ratings to host a roundtableRoundtable Breakfast Discussion entitled, "Wholesale Power and U.S. Utility Update" discusses key trends in the utilities and power sector in New York on May 18 at 8:30 am. :theflyonthewall.comCitigroup to host a conferenceNordic Consumer Conference is being held in Stockholm, Sweden on May 18-19. :theflyonthewall.comBofA/Merrill to host a field tripInvestor Trip: Russia & China Oils will travel through Russia and China on May 16-20. :theflyonthewall.comNational Council for Prescription Drug Programs to hold a conference2011 Annual Technology & Business Conference is being held in Phoenix on May 15-19. :theflyonthewall.comAmerican Psychiatric Association to hold annual meeting164th Annual Meeting of the APA is being held in Honolulu on May 14-18. :theflyonthewall.comMorgan Joseph to host a bus tourGaming Bus Tour will be traveling through St. Louis, MO on May 17-18. :theflyonthewall.comJP Morgan to host a conference39th Annual Global Technology, Media & Telecom Conference is being held in Boston on May 16-18 with webcasted company presentations to begin on May 18 at 8 am; not all company presentations may be webcasted. Webcast Link :theflyonthewall.comLeveraged Finance Conference is being held in New York on May 18-19 with the opening remarks to start at 8:15 followed by a private equity panel at 8:30; webcasted company presentations will start on May 18 at 9:15 am but not all company presentations may be webcasted. Webcast Link :theflyonthewall.comElectric Products Group to host a conference2011 Annual Conference is being held in Longboat Key, Florida on May 15-18 with webcasted company presentations to begin on May 18 at 7:30 am; not all company presentations may be webcasted. Webcast Link :theflyonthewall.comMBA Purchase Applications Composite Index data reportedWeek of 5/13 MBA Purchase Applications Composite Index up 7.8% for the week :theflyonthewall.comMay front month equity options expire, May 20, 2011 May Chicago PMI to be released at 09:45 ETThe market attempted a rally, cutting its losses in half. The action brought out the sellers, however, who used the rally to start selling again. Oil also rebounded, cutting its loss to 20c from almost $2.00. There was little to account for the rally, other than investors possibly feeling the market moved to low too fast. Whatever the reason, the uptrend has been broken and investors are using any semblance of a rally to sell more shares. :theflyonthewall.comMarket internals very negativeThe averages remain deep in negative territory, but have moved in a narrow range over the past hour. The Dow is the biggest loser down 1.0%, while the Nasdaq and S&P are down roughly 0.4%. Declining stocks are ahead of advancing stocks by more than 2:1, while down volume is ahead of up volume by the same margin. Oil is down 1.25%, gold is down 1.0% and silver is down 1.3%. :theflyonthewall.comCBOE Volatility Index-VIX up 46c to 18.72Citigroup's consumer analysts hold an analyst/industry conference callConsumer Analysts McShane, Gardner, Suva, Mahaney, Rollins, Pritchard and Weinswig, along with Darren Murph, Managing Editor of Engadget.com, hold an Analyst/Industry conference call entitled, "Consumer Electronic Product Trends: Critical Insights into the Product Cycle and Competitive Trends" on May 17 at 2 pm hosted by Citigroup. :theflyonthewall.comStifel Nicolaus's government technology services analyst holds a conference callGovernment Technology Services Analyst Loomis, along with Attain's Chief Architect, Andrew Gastwirth, participate in an Analyst/Industry conference call entitled, "Cloud Computing Trends in the Federal Government" to be held on May 19 at 10:30 am hosted by Stifel Nicolaus. :theflyonthewall.comIndustrial Production Capacity Utilization Rate data reportedApril Industrial Production Capacity Utilization Rate at 76.9% vs. consensus of 77.6% :theflyonthewall.comSenate Homeland Security and Governmental Affairs Committee to hold a hearingRedbook Store Sales data reportedWeek of 5/14 Redbook Store Sales down -2.3% for the year :theflyonthewall.comCredit Suisse hosts an analyst/industry conference callAnalysts Lehmann and Goad host David Crowe, Chief Economist for the National Association of Homebuilders (NAHB), who provides his views on the U.S. housing industry on an Analyst/Industry conference call on May 17 at 10 am. :theflyonthewall.comAtlanta Economics Club to hold a luncheon meetingAtlanta Economics Club hosts May's Luncheon Meeting with keynote speaker David Altig of the Federal Reserve Bank of Atlanta who speaks on the U.S. economic outlook on May 17 at 11:45 am. :theflyonthewall.comApril Housing Starts at 0.523M vs. consensus of 0.570M :theflyonthewall.comBRIC's Conference is being held in London on May 17. :theflyonthewall.comOppenheimer to host a conference5th Annual China Dragon Call Conference is being held in New York on May 17-19. :theflyonthewall.comFinancial Research Associates to hold a webinarWebinar entitled, "Insider Trading Laws: Latest Developments & Enforcement Actions", discusses how the government detects, investigates insider trading in the hedge fund and private industries and covers adoption and implementation of inside trading policies and procedures on May 17 at 1:30 pm. Webcast Link :theflyonthewall.comBofA/Merrill to host a conferenceFashion Meets Finance Evening Reception with the Banana Republic is being held in London on May 17 at 1:30 pm. :theflyonthewall.com2nd Annual Clean Technology Conference is being held in New York on May 17. :theflyonthewall.comDeutsche Bank to host a conference12th Annual Swiss Equities Conference is being held in Zurich, Switzerland on May 17-18. :theflyonthewall.comICSC-Goldman Store Sales data reportedWeek of 5/14 ICSC-Goldman Store Sales up 3.2% for the year :theflyonthewall.comElectric Products Group to host a conferenceEPG 2011 Annual Conference is being held in Longboat Key, Florida on May 15-18 with webcasted company presentations to begin on May 17 at 7:30 am; not all company presentations may be webcasted. Webcast Link :theflyonthewall.com
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