Dow soars 421 points in best day since November 2011

•December 19, 2014 • 1 Comment

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http://www.ksdk.com/story/money/2014/12/18/dow-soars-421-points-in-best-day-since-nov-2011/20607997/

Stocks soared for a second day Thursday and the Dow had its best day in more than three years as good feelings about the Fed’s Wednesday announcement that rate hikes aren’t on the immediate horizon continued to boost the market.

The Dow Jones industrial average jumped 421.28 points, or 2.4%, to close at 17,778.15, its best one-day point gain since Nov. 30, 2011. The two-day rally saw the Dow gain 708 points, its best two-day point gain since Nov. 2008.

“The mini correction is over,” says David Kotok, chief investment officer at Cumberland Advisors. “The markets are again realizing that the (bull market) basics of low interest rates, low inflation, and a gradual economic recovery are solidly in place.”

The Standard & Poor’s 500 index gained 48.34 points, or 2.4%, to 2061.23 and has added 88 points, or 4.5%, in two days. That is the broad-based index’s best two-day percent performance in more than three years.

Gains were led by tech stocks, the best-performing sector in the S&P. The tech-heavy Nasdaq composite index rose 104.08 points, or 2.2%, to 4748.40.

The stock market’s two-day paper gain was approximately $1.1 trillion, according to Wilshire Associates.

“Fed-induced optimism sent the Dow to its best day of the year yesterday, and the blue-chip barometer is set to pick up right where it left off,” Karee Venema of Schaeffer’s Investment Research noted early in the day.

Investors in Europe, especially in Germany and France, are also relieved that the Russian ruble is showing signs of stabilization.

The CAC 40 of France jumped 3.4% and Germany’s DAX added 2.8%. The FTSE of Britain gained 2%.

In Asia, Japan’s Nikkei 225 index gained 2% and Hong Kong’s Hang Seng index gained 1%. The Shanghai composite fell 0.1%

The good market news comes in the wake of volatility churned in recent days by a plunging Russian ruble and cratering oil prices. The ruble has stabilized, now trading for about 60 to one U.S. dollar. Oil is dropping more: A barrel of West Texas intermediate crude is down shy of 2%, at a few dimes above $56.

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its happy days..everything is working well again..phew!

“The mini correction is over,” says David Kotok

famous last words..

401

Moody’s cuts Alaska’s outlook to negative on oil

•December 19, 2014 • 1 Comment

aealogo

http://www.ft.com/intl/fastft/252411/post-252411

The crude price has caught up with one US state.

Alaska is at risk of losing its AAA credit rating as lower oil prices squeeze the state government’s revenues, rating agency Moody’s warned.

The outlook on Alaska’s top rating was cut to negative late on Tuesday by Moody’s, which added the move covers $870m of Alaska’s general obligation bonds as well as debt issued by Alaska Municipal Bond Bank and the Alaska Energy Authority.

Although oil production in Alaska has fallen in recent years, the industry still generated almost half of its revenues in fiscal year 2013. Moody’s said:

“Just as the state has benefitted from high oil prices in recent years, prices well below previous expectations could lead the state to substantially reduce its financial reserves, eroding a key support to its Aaa rating.”

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the low price of oil is now starting to bite the usa..it will hit their shale profits eventually and its seen alaska take a hit now..

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Skin cancer treatment doubles Novogen share price..up 96%

•December 19, 2014 • 4 Comments

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http://www.theaustralian.com.au/business/skin-cancer-treatment-doubles-novogen-share-price/story-e6frg8zx-1227158641245

A MEDICAL breakthrough in the treatment of melanoma has doubled the share price of biotechnology firm Novogen, just two years after the company abandoned a push to dismantle Australian operations in favour of its New York-based subsidiary.

Novogen shares ended trade yesterday 96.43 per cent higher after the company announced its brain cancer treatment Trilexium had been shown in pre-clinical studies to be highly effective against melanoma.

Novogen would now attempt to secure funding for clinical trials and to take the therapy to market, the company’s executive director Graham Kelly said.

“People have speculated for some time that there’s a link between melanoma and brain cancer, so a drug that could knock out both is an important scientific discovery,” Dr Kelly said.

“From a shareholder point of view, there are very few drugs that work against melanoma.”

Dr Kelly said the development of Trilexium had been one of the cheapest drug developments ever, at around $1.5m, But the cost of bringing a drug into the clinic and onto shelves would be in the order of $15m to $20m, he said.

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thats a massive payday for shareholders..if they sold..

any sort of cure for melanomas will be welcome in my country..i think we have the worst rate in the world..we are addicted to being outside which is a healthy way to live but thankfully now we are seeing the popular practice of tanning is starting to lose its appeal..life is more important than brown skin..you need to cover up..i can see novogen being bought out in the near future..

401

New chapter in US-Cuba ties

•December 19, 2014 • 7 Comments

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http://www.bbc.com/news/world-us-canada-30516740

US President Barack Obama has hailed a “new chapter” in US relations with Cuba, announcing moves to normalise diplomatic and economic ties.

Mr Obama said Washington’s current approach was “outdated” and the changes were the “most significant” in US policy towards Cuba in 50 years.

Cuban President Raul Castro said he welcomed the shift in a TV address.

The move includes the release of US contractor Alan Gross and three Cubans held in the US.

Wednesday’s announcements follow more than a year of secret talks in Canada and at the Vatican, directly involving Pope Francis.

US-Cuba relations have remained frozen since the early 1960s, when the US broke off diplomatic relations and imposed a trade embargo after Cuba’s revolution led to communism.

The plans set out in a White House statement also include:

  • Reviewing the designation of Cuba as a state sponsor of terrorism
  • Easing a travel ban for US citizens
  • Easing financial restrictions
  • Increasing telecommunications links
  • Efforts to lift the 54-year-old trade embargo

Mr Castro said the changes were something Cuba had been pressing for for a long time.

“Ever since my election… I have reiterated on many occasions our preparedness to hold a respectful dialogue with the government of the United States based on sovereign equality,” he said.

http://www.nbcnews.com/storyline/u-s-cuba-relations/cuba-frees-american-alan-gross-held-five-years-n269926

The changes came with the abrupt release of an American government contractor, Alan Gross, who had been imprisoned in Cuba for five years. He stood when his plane cleared Cuban airspace and stepped off in the United States to hugs on the tarmac.

At the same time, the United States released three Cubans jailed for 15 years on spying charges, and Cuba released a U.S. spy held there for two decades.

President Barack Obama declared that the United States was ending an “outdated approach” after five decades of isolation failed to accomplish the goal of a democratic and prosperous Cuba. The United States and Cuba severed diplomatic relations in 1961, two years after forces led by Fidel Castro overthrew the Cuban government.

“Neither the American nor the Cuban people are well-served by a rigid policy that’s rooted in events that took place before most of us were born,” Obama said from the White House. “It’s time for a new approach.”

Obama said that the United States would relax travel, banking and commerce restrictions, and he instructed Secretary of State John Kerry to start talks to re-establish diplomatic relations, including the eventual opening of an American embassy in Havana.

“Nobody represents American values better than the American people,” Obama said, “and I believe this contact will ultimately do more to empower the Cuban people.”

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cuba must have found some oil or some other natural resource eh? ;)

“Nobody represents American values better than the American people,” Obama said

no shit..

“Wednesday’s announcements follow more than a year of secret talks in Canada and at the Vatican, directly involving Pope Francis.”

franky has the midas touch..

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A single word in the Peru climate negotiations undermines the entire thing

•December 19, 2014 • 1 Comment

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http://www.slate.com/blogs/future_tense/2014/12/14/lima_peru_climate_change_negotiations_one_word_undermines_the_entire_thing.html

Since 1992, the world’s leaders have been meeting annually to talk about what to do about climate change.

The U.N. process has so far produced oodles of protocols and plans of action. Yet emissions from tailpipes and smokestacks the world over have continued on largely unabated.

The result has been an embarrassment. After the failures of Kyoto and Copenhagen, it’s difficult to argue with a straight face that the world’s climate is better off because of the more than two decades of diplomatic doldrums that the U.N. process represents.

The U.N. process has so far produced oodles of protocols and plans of action. Yet emissions from tailpipes and smokestacks the world over have continued on largely unabated.

The result has been an embarrassment. After the failures of Kyoto and Copenhagen, it’s difficult to argue with a straight face that the world’s climate is better off because of the more than two decades of diplomatic doldrums that the U.N. process represents.

In the final version of the text, developing countries largely got their way—including language referencing a temperature rise of just 1.5°C above pre-industrial levels, a target so ambitious that it would likely require a single-minded global focus—but one key word related to international oversight of the emissions reductions plans was changed from “shall” to “may” at the request of China. Had the re-write not occurred, a leaked strategy document showed a coalition of some influential developing countries, including India, were prepared to scrap the entire agreement.

This single word undermines much of what climate campaigners were hoping 2015 would bring: a concerted effort to assemble an effective and ambitious global plan of action on a country-by-country basis. The wording of the Lima text, in combination with the fact that any global deal almost certainly won’t have legal force (because the U.S. Congress would never ratify a legally-binding climate treaty), means that whatever comes out of Paris—the site of the next climate summit, in 2015—probably won’t be a game-changer.

The U.N. process isn’t where the action is on climate anymore. Progressive cities, transformative industries, and mass protests have the best chance of providing the tipping point that’s needed. These talks are a distraction from the kind of urgent, on-the-ground work that needs to happen in order to steer the world’s economy toward a carbon-free path and prepare for the impacts of increasingly extreme weather.

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this article has been written by a warmist and it shows his dismay at what eventuated at lima..and thats why there has been a so little news about it..it was a fail..countries wont sign up to binding agreements that kill growth..or to slush funds that want billions donated year after year..

401

Jeb Bush prepares to run

•December 19, 2014 • 4 Comments

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http://www.wsj.com/articles/jeb-bush-and-the-right-1418774628

Former Florida Governor Jeb Bush announced Tuesday that he will “actively explore” a presidential run, and his entry would strengthen a GOP field that already looks like it will be far better than it was in 2012. This means there will be no coronations, and already the media are asking if Mr Bush is conservative enough to win the party nomination.

This is an odd question considering Mr. Bush’s success as a notably conservative governor in the polyglot Sunshine State from 1999-2007. He cut taxes many times and was a leader in K-12 reform, including pushing school choice for public and private schools. He was also popular, which last we looked is still a political asset.

Then again, Mr. Bush hinted at this concern himself this month at the Wall Street Journal CEO Council, noting that “I kind of know how a Republican can win, whether it’s me or somebody else—and it has to be much more uplifting, much more positive, much more willing to be, ‘lose the primary to win the general’ without violating your principles. It’s not an easy task, to be honest with you.”

One of his likely competitors, Kentucky Senator Rand Paul , jumped on that remark to suggest that Mr. Bush thinks he has to run against the GOP base to win. And to our mind Mr. Bush’s comment was needlessly defensive. The way to win the nomination isn’t to run as the candidate of this or that faction but to offer the ideas and persona that can unite the party. It’s also the best way to show voters that Mr. Bush is his own man, and not a copy of his father or brother.

The worst strategy—and a guaranteed loser—is to run as an ostentatious moderate opposed to the GOP base. John McCain tried that in 2000 and so did Jon Huntsman in 2012. They were media favorites but lost the nomination because GOP conservatives won’t nominate someone who lectures them about ideological shortcomings. They want a champion for their principles even if they disagree with the nominee on some issues.

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only in america eh?..and he will most likely battle against the wife of another ex president..

401

Are you really ready for the world to be ruled by bankers?

•December 19, 2014 • 3 Comments

20141216_citi1

http://www.zerohedge.com/news/2014-12-16/are-you-really-ready-world-be-ruled-bankers

Martin Armstrong via Armstrong Economics, has some strong opinions…

Believe it or not, Citigroup announced on Friday that it would move its headquarters from New York to the actual U.S. Capitol Building, in Washington, D.C., in early 2015. Yes! They might as well had since they got everything they wanted… Could you imagine.

Citi outbid JP Morgan and Goldman Sachs to lease thirty thousand square feet of prime real estate on the floor of the House of Representatives.

This is just jumping off the cliff. Not only did these people grease enough palms to repeal Dodd Frank, they are now virtually leasing space right in the Capital Building and managed to increase the donation limitation from $32,400 to $324,000. They own Congress.

Well as they say – there goes the neighborhood. The real problem we face is when you take polls on the job performance on Capitol Hill, we will have to ask which group? Looks like the clouds are starting to gather for 2015.75 in a very dramatic way. Maybe it is just time to leave. Oh ya.

This is fulfilling the lyrics of the Eagle’s song Hotel California – where you can check out any time you like, but you can never leave.

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try and comprehend whats happening here..citigroup are now as close to the corridors of power that is physically possible without being an elected official..and it happens without a quiver of hypocrisy or shame..the fascist technocracy is alive and well..

401

 
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