Government Shutdown Averted
The U.S. government is facing a partial shut down after March 27. With a roll
call of 318 yes votes and 109 no votes, the U.S. House of Representatives
approved a Senate-passed bill, containing nearly $984 billion in funds for the
federal government through September, removing the threat of a government
shutdown next week. The bill also keeps in place the $85 billion in automatic
cuts that began at the start of March, under the sequester. The bill goes next
to the desk of President Barack Obama, for signature.
Threatening to withdraw an emergency liquidity lifeline to banks in Cyprus, the
European Central Bank imposed a Monday deadline for a Cyprus bailout, for the
country to ink a deal to rescue its financial sector. After the parliament in
Cyprus rejected an unpopular proposal to tax bank deposits earlier this week,
officials in Cyprus remain in talks with Russia for possible assistance while
working on a plan to tap pension funds and other assets in an effort to raise
funds. The tentative Cyprus proposal involves the nationalization of pension
funds and the takeover of real-estate assets from the government and the Church
of Cyprus. Averof Neophytou, deputy leader of the ruling Democratic Rally party,
said there is a unanimous proposal to create a "solidarity fund" which is being
assessed by legal experts and told reporters, "There is one goal, the saving of
the country, shielding it from existing risks at the foundations of the
government." European Party chief Demetris Syllouris said the proposal does not
include a levy on bank deposits. Cyprus' Finance Minister Michalis Sarris said a
means of finding a solution to the financial crisis, Cypriot and Russian
officials have been discussing a wide range of options involving the potential
sale of natural gas and banking assets.
U.S. Labor Department said Thursday, for week ended March 16, the number of
people applying for new unemployment benefits edged up by 2,000 to 336,000. Over
the past month, the average of new claims dropped by 7,500 to 339,750, striking
the lowest level since February 2008. Continuing claims, which reflect the
number of people already receiving benefits, for the week ended March 9,
increased by 5,000 to a seasonally adjusted 3.05 million.
The Federal Housing Finance Agency reported on Thursday, using only mortgages
backed by Fannie Mae and Freddie Mac, home prices climbed a seasonally adjusted
0.6% during January and increased 6.5% from the same period in 2012.
Conference Board's leading economic index grew 0.5% in February, marking the
third straight month of gains, as reported on Thursday. "The U.S. economy is
growing slowly now, and with this reading increases hope that it may pick up
some momentum in the second half of the year. However, this latest report does
not yet the capture the recent effects of sequestration, which could dampen the
pickup in GDP," said Ken Goldstein, economist at The Conference Board.
The National Association of Realtors reported Thursday that existing-home sales
rose 0.8% during February to a seasonally adjusted annual rate of 4.98 million,
reaching the highest level seen since November 2009. Also during February,
inventories of existing homes for sale rose 9.6% in February to 1.94 million.
Compared to February 2012, the median existing-home sales price rose 11.6% to
Philadelphia Federal Reserve said Thursday that for March, the bank's
business-conditions index climbed to 2.0% from negative 12.5 in February. New
orders climbed to 0.5% in March from negative 7.8 in February for the first
positive reading in three months. The index for hiring plans increased to 2.7%
in March from 0.9% in February.
Milestone for Millennium-Traders, we are extremely proud to be one of the top 1%
most viewed LinkedIn profiles for 2012.
Offers on Subscriptions, monthly rates at low as $75 per month plus, weekly
subscriptions now available.
on Day Trading with confirmed subscription to our Free
One week trial
Day Trading Rooms
for stocks, futures, forex and options.
available for stocks, futures, forex and options traders.
focus on NYSE, NASDAQ and AMEX.
focus on YM, NQ, TF and ES.
based on New York trading session focus on GBPUSD, USDCAD, USDJPY, EURUSD,
GBPJPY, USDCHF, EURJPY, EURAUD, AUDJPY, CHFJPY, EURCAD, GBPCAD and AUDUSD.
available to subscribers weekdays starting at 9am ET.
Detailed historic performance for all calls is available on our
Opt-in to our
sent via email, first trading day of the week which includes recap of markets
from previous week and what is ahead for the upcoming trading week.
provides new trading subject every month.
Free Chat Rooms
- penny stocks, options, stocks, futures and forex! Chat with other traders any
time, day or night, 24-hours a day.
Mar 21, 2013