General Finance News

Stocks got off on a positive note this morning, but resisted the temptation to climb based on a positive reading of the leading econonmic indicators and higher estimates of US GDP growth in the fourth quarter. Consumer spending appears to be higher than expected and retailers’ inventories are falling which should lead to some re-stocking before the holiday shopping season kicks in with real force. Crude oil prices have fallen about -1.4% today, to below $97.50/barrel. Volume has been reasonably heavy as today brings the expiration of options. Gold prices are up a bit at $1,725.80. See our earlier story on the countries that own the world’s gold.

The unofficial closing bells put the DJIA up more than 25 points to 11,796.23 (0.22%), the NASDAQ fell more than 15 points (-0.60%) to 2,572.50, and the S&P 500 fell 0.04% or about 0.48 points to 1,215.65.

There were several analyst upgrades and downgrades today, including Hewlett-Packard Co. (NY

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– The major U.S. index futures are pointing to a higher opening on Friday, with sentiment getting a boost from a modest retraction in European bond yields. Nevertheless, the sovereign debt crisis plaguing the eurozone region is simmering on, with no end close at sight. The nervousness is palpable in the European markets, which are currently trading mixed. Risk appetite is picking up modestly, as reflected by the rebound seen in commodity prices. Despite this, the still-unresolved nature of the debt crisis could keep the major averages within recent trading ranges.

After bouncing moving back and forth across the unchanged line in a narrow range until the mid-session on Thursday, the major U.S. averages declined sharply before going about a consolidation move in the afternoon.

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Although the amount given to charities by private donors rose last year after falling back in the wake of the financial crisis, the sector faces significant threats from government cuts and the possibility the eurozone crisis could plunge the UK back into recession.

Personal donations decreased by 11% to £9.9 billion between 2007/08 and 2008/09, according to the 2010 UK Giving Report from the Charities Aid Foundation (CAF) and the National Council for Voluntary Organisations (NCVO).

While the amount given last year rose to £10.6 billion, many charities are still feeling the after-effects of the downturn. The CAF calculate that charity surpluses – the amount of money charities have to fund additional operations and expand dropped by 60% between 2007 and 2009, and were last year lower in real terms than in 2002.

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Investigations have been launched following two recent reports of fires involving the Chevrolet Volt plug-in hybrid. One report, involving a Volt that had been crash-tested by the government, centered on the cars lithium-ion traction batteries. The other incident was a North Carolina garage fire in which a Volt was reportedly being charged. The cause of the latter fire is still under investigation.

The reports call into question the safety of the lithium batteries used in all the latest plug-in electric cars. The same type of batteries caused several fires in laptop computers from Apple and Dell in 2006.

The reports raise the point that lithium batteries are still a fairly new technology and we may not understand all the safety implications. Compared with gasoline stored in a metal or plastic tank, however, lithium batteries seem pretty safe.

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Unemployment remains stubbornly high. The housing crisis has chipped away at consumer confidence. Commodities costs have pushed prices for everyday items upward. Yet there are signs the economic picture might be getting better for some Americans — which means businesses could start working harder to get us to start spending again.

At least, that’s what companies should be doing, according to a new J.P. Morgan (JPM) report, Light At the End of The Tunnel: Getting Ready for the Return of the U.S. Consumer.

U.S. consumer balance sheets have recovered to levels not seen in several years, the report says. Read more…

Joshua Cooper Ramo of Kissinger Associates at the closing session.

Joshua Cooper Ramo of Kissinger Associates told advisors and other guests at Schwab Impact on Thursday evening that, in order to meet the challenges of the 21^st Century, they need to come to grips with the abundance of shifts happening globally – especially in China.

“The rise of China is one of the most important changes of our lifetime, and the outcome remains uncertain,” said Ramo, author of “The Age of the Unthinkable.” “For the U.S., it involves the challenge of ideas, economics and values and also the opportunity for cooperation,” he said at the closing session the conference, which was attended by some 2,100 Schwab-affiliated independent advisors and 1,900 other guests.

The Chinese, explained Ramo, see the major U.S. news from Sep

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Third quarter sales numbers reveal interesting trends for all Oahu homes for sale. Single family sales increased by 4.2% to 793 units within the three month period of July to September. The month of September closed with 274 sales, the highest number of single family sales so far in 2011. Similarly condominium sales rose 12% to 1,002 units during the third quarter with September condominium sales closing out 358 units, the second highest number of condo sales this year. Overall, Oahu median sales prices dropped 8.8% for single family homes, and 4.0% for condominiums. However on a neighborhood by neighborhood basis, exactly half of Oahu’s neighborhoods saw an increase in median price, while half of the neighborhoods saw median price declines. S

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(Reuters) – Members of MF Global Holdings Ltds board of directors were meeting on Saturday to discuss options for the sale of the brokerage, Bloomberg News reported.

The talks were said to have begun in New York at 4 p.m. EDT to discuss apparent offers from five potential buyers of the company.

“Were not commenting on the record about this meeting,” MF Global spokeswoman Tiffany Galvin said.

A source familiar with the situation said on Friday that MF Global was racing to sell all or part of its business this weekend, with its futures brokerage business seen as the most attractive.

MF Global stock fell over 60 percent this week and the bonds were distressed after the firm posted a 191.6 million quarterly loss and as Moodys Investors Service and Fitch Ratings cut the companys credit ratings to junk.