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August 2010 “Market’s Measure” Preliminary Report - A Monthly Report From Dow Jones Indexes On The Performance Of U.S., European, Asia And Other Global Stock Market Indexes
August 24, 2010--•Dow Jones Industrial Average Posts 2.79% Loss in August, European Stocks Lose 3.46%, Asia Falls 1.43% and World Equities Fall by 2.41%
Health Care Sector Posts Biggest Gain for August in Europe
Financials Sector Takes the Hardest Hit for August in U.S.
As of August 23 the Dow Jones Industrial Average fell 2.79% in August, closing at 10174.41. Stock market indexes in Europe, Asia and globally was down in August, according to preliminary monthly figures from global index providers, Dow Jones Indexes
The Dow Jones Industrial Average fell 2.79% in August, closing at 10174.41. Year-to-date, the index is down 2.43%.
The Dow Jones Europe Index fell 3.46% in August to 233.53. So far this year, the index is down 11.62%.
The Dow Jones Asian Titans 50 Index fell 1.43% in August to 126.51. So far this year, the index is down 5.78%.
The Dow Jones Global Titans 50 Index fell 2.41% in August, closing at 154.72. Year-to-date, the index is down 10.90%.
NASDAQ Announces Mid-month Open Short Interest Positions in NASDAQ Stocks as of Settlement Date August 13, 2010
August 24, 2010--At the end of the settlement date of August 13, 2010, short interest in 2,398 NASDAQ Global Market(SM) securities totaled 6,904,086,531 shares compared with 7,015,652,490 shares in 2,399 Global Market issues reported for the prior settlement date of July 30, 2010. The mid-August short interest represents 3.48 days average daily NASDAQ Global Market share volume for the reporting period, compared with 3.35 days for the prior reporting period.
Short interest in 484 securities on The NASDAQ Capital Market(SM) totaled 316,908,196 shares at the end of the settlement date of August 13, 2010 compared with 322,988,091 shares in 489 securities for the previous reporting period. This represents 5.34 days average daily volume, compared with the previous reporting period's figure of 4.08.
In summary, short interest in all 2,882 NASDAQ(R) securities totaled 7,220,994,727 shares at the August 13, 2010 settlement date, compared with 2,888 issues and 7,338,640,581 shares at the end of the previous reporting period. This is 3.54 days average daily volume, compared with an average of 3.37 days for the previous reporting period.
The open short interest positions reported for each NASDAQ security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller.
For more information on NASDAQ Short interest positions, including publication dates, visit http://quotes.nasdaq.com/asp/MasterDataEntry.asp?page=ShortInterest or http://www.nasdaqtrader.com/asp/short_interest.asp.
Roll-out of Eurex’s Training & Education Initiative in Asia
August 20, 2010-- The international derivatives exchange Eurex today announced its plans to cooperate with The Chinese University of Hong Kong (CUHK) to set up the world’s first real-time finance trading laboratory on campus as a major part of its new Training & Education Initiative in Asia. Through this initiative, Eurex will become a founding member of CUHK’s trading laboratory and support the lab with historical and real-time market data for research and analysis. Additionally, Eurex will make a donation to the university and offer internships to CUHK students.
"We appreciate very much the kind support of all the founding sponsors including Eurex. With this finance trading laboratory in place, our students will be able to gain real life experiences as a trader. They can try their hands on volatility spreads, adapting hedging strategies and conducting quantitative research using real data,” says Professor van Put, Adjunct Professor, CUHK Business Faculty. “To begin with, the laboratory will first be tried out by our final year undergraduate students taking courses on options and derivatives in the coming academic year. The new facility is subsequently expected to play a more important role in the finance training of our MBA, MSc and other executive education programs”, added Professor Fan, Associate Dean, CUHK Business Faculty.
“This cooperation is an important element of Eurex’s Training & Education Initiative in Asia. With our new program, we aim to improve the knowledge and expertise of Asia-based investors about the European markets and products as well as to introduce popular and widely used products, trading strategies and trends”, said Michael Peters, member of the Eurex Executive Board. A major part of the trainings will be the area of program and algorithmic trading, he added.
In July 2010, Eurex introduced the “Trader Training Program” for professional traders in Taiwan, as part of the overall Initiative. The program is the first of its kind in Taiwan and is targeted towards new professional traders.
Emerging economies alter dynamics of oil demand
August 19, 2010--Emerging economies have upended the long-standing pattern of global oil consumption, according to the west’s energy watchdog, in a further sign of how countries such as China and India are transforming commodities markets
The International Energy Agency estimates that oil demand was higher this year during the second quarter for the first time, at about 86.6m barrels a day, ahead of the traditional peak winter season of January-March, at 86.0m b/d.
Eurekahedge Monthly-July 2010
August 19, 2010--Highlights from this month’s report are as follows:
Inflows to US hedge funds crossed US$30 billion July YTD.
All regions and strategies posted positive returns and asset flows in July.Mbr>UCITS III hedge funds attracted further inflows of US$5 billion July YTD.
Event driven funds rose 48.4% since November 2008 and gained US$25 billion through 15 months of net positive asset flows.
High stockpiles push oil prices below $75 level
August 18, 2010--Oil slid below $75 a barrel in intraday trade after the US reported its commercial petroleum inventories climbed to the highest levels on record.
The US Department of Energy said stockpiles of crude oil and refined products rose to 1.13bn barrels last week, the most oil companies have stocked away since weekly records began in 1990. Monthly records indicate higher inventories in the early 1980s. The data exclude oil in the government-controlled strategic petroleum reserve
BofA Merrill Lynch Fund Manager Survey Finds Bearish Sentiment Waning as Risk Appetite Improves
Investors Move out of Japan and U.S. and into Europe
August 17, 2010--Bearish sentiment among investors about the outlook for the global economy and corporate earnings has eased, according to the BofA Merrill Lynch Survey of Fund Managers for August.
The survey shows a net 5 percent of respondents predicting that the global economy will improve in the next year. This represents a modest turnaround from July when a net 12 percent of respondents predicted the world economy would deteriorate.
While the percentage of respondents expecting below-trend growth and inflation remained unchanged at 73 percent in August, the survey shows recession fears easing. A net 78 percent of respondents think a double-dip recession is unlikely. After a deflation shock last month, investors have shifted their focus back towards inflation.
The survey shows an almost neutral view on the prospects for a rise in global inflation in the next year. Just 1 percent of respondents expect inflation to be lower in 12 months' time, compared to a net 12 percent in July. In addition, a net 14 percent of asset allocators indicated that global monetary policy is too stimulative, compared to just 5 percent in July. Nonetheless, 55 percent of respondents to the global survey are ruling out any rate hike in the U.S. before the third quarter of 2011.
A key indicator tracking investors' risk and liquidity conditions returned to an almost neutral reading, indicating an improvement in sentiment.
Short-Term Energy Outlook-EIA
August 18, 2010--On August 10, 2010 the US Energy Information Administration (EIA) published the Short-Term Energy Outlook report
Highlights
EIA projects that the West Texas Intermediate (WTI) spot price, which ended July at more than $78 per barrel, will average $81 per barrel in the fourth quarter of 2010 and $84 per barrel in 2011, slightly above the forecasts in last month's Outlook.
EIA expects that regular-grade motor gasoline retail prices, which averaged $2.35 per gallon last year, will average $2.77 per gallon over the second half of 2010, up one cent per gallon from the average for the first half of the year.
The projected Henry Hub natural gas spot price averages $4.69 per million Btu (MMBtu) this year, a $0.74-per-MMBtu increase over the 2009 average, but virtually unchanged from the forecast in last month's Outlook. EIA expects the Henry Hub spot price will average $4.98 per MMBtu in 2011, down $0.19 per MMBtu from last month's Outlook.
The annual average residential electricity price increases only moderately over the forecast period, averaging 11.6 cents per kilowatthour (kWh) in 2010, up slightly from 11.5 cents per kWh in 2009, and rising to 11.9 cents per kWh in 2011.
Estimated U.S. carbon dioxide (CO2) emissions from fossil fuels, which declined by 7.0 percent in 2009, are expected to increase by 3.4 percent and 0.8 percent in 2010 and 2011, respectively, as economic growth spurs higher energy consumption. However, even with these increases, projected emissions remain below their level in any year from 1999 through 2008.
Global Crude Oil and Liquid Fuels
Crude Oil and Liquid Fuels Overview. EIA's view of the world oil market is largely unchanged from last month's Outlook. EIA expects world oil prices will rise slowly as world oil demand increases because of projected global economic growth, slower growth in non-OPEC oil supply, and continued production restraint by members of the Organization of the Petroleum Exporting Countries (OPEC). A gradual reduction in global oil inventories expected over the forecast period also should lend support to firming oil prices.
Germany and the United Kingdom drive stronger GDP growth in the European Union but, growth slows in Japan and the United States
GDP growth - Second quarter of 2010
August 18, 2010--Gross domestic product (GDP) in the OECD area rose by 0.7% in the second quarter of 2010, the same rate as in the previous quarter. Real GDP grew by 1% in both the euro area and the European Union driven by record growth of 2.2% in Germany; its highest rate since reunification.
GDP growth was 1.1% in the United Kingdom, up from 0.3% in the previous quarter; 0.6% in France, up from 0.2%; and 0.4% in Italy, unchanged from the previous quarter. By contrast, GDP growth in Japan and the United States slowed to 0.1% and 0.6% respectively, compared with 1.1% and 0.9% in the previous quarter.
Relative to a year earlier, GDP in the OECD area expanded by 2.8%, up from 2.4% in the previous quarter. Germany at 3.7% had the highest rate and Italy (1.1%) the lowest.
Oil hovers above $75 amid economic fears
August 17, 2010--Oil prices edged up in Asia for the first time in five days on Tuesday with gains tempered by signs of a slowing global economic recovery that could dent demand for fuel.
Benchmark crude for September delivery was up 14c to $75.38 a barrel at afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract fell 15c to settle at $75.24 a barrel on Monday.
