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Business Title: Crude Oil, Gold, Cotton Surge as Dollar Weakens Nov. 9 (Bloomberg) -- Oil climbed to a two-year high, while gold and cotton rose to records, as a weakening dollar boosted prices of commodities. U.S. stocks fluctuated after the Standard & Poor’s 500 Index slipped yesterday from its highest level since September 2008. Crude futures increased 0.5 percent to $87.45 at 10:17 a.m. in New York, while gold traded above $1,420 an ounce and cotton touched an all-time high. Gauges of commodities rose to two-year highs. The Dollar Index slipped 0.2 percent to 76.840, halting a two-day advance. The S&P 500 climbed 0.3 percent to 1,226.25 after losing 0.1 percent earlier. The yen gained as China planned tighter capital controls. The Thomson Reuters/Jefferies CRB Index of commodities has rallied for 11 straight weeks, its longest streak since 1977, after Federal Reserve Chairman Ben S. Bernanke indicated in August he was prepared to pump more cash into the economy. The central bank last week confirmed those plans, announcing a program to buy $600 billion in Treasuries in a tactic known as quantitative easing. Cotton helped lead gains in commodities today, rising the exchange limit to a record before a U.S. Department of Agriculture report that economists in a Bloomberg News survey expect to show a decline in global inventories. Arabica coffee futures advanced to a 13-year high, raw sugar rose to the highest price since 1981, gold climbed to a record $1,422.35 an ounce and copper jumped as much as 2.5 percent. Oil rose 0.4 percent to $87.37 a barrel. Wholesale Inventories The S&P 500 recovered from its lows of the day after inventories at U.S. wholesalers climbed twice as much as forecast in September as suppliers stocked up ahead of the holiday sales season. Producers of raw materials and energy advanced at least 0.4 percent for two of the top three gains among 10 groups in the S&P 500, while financial companies slipped 0.4 percent and were the biggest drag on the index. Priceline.com Inc. climbed 9 percent as its fourth-quarter forecast topped estimates, reflecting stronger demand for hotel bookings and international flights. Atlas Energy Inc. rallied 34 percent after saying it agreed to be acquired by Chevron Corp. in a transaction valuing the company at $4.3 billion including debt. Atlas shareholders will get $43.34 a share, a 37 percent premium to yesterday’s closing price. More than three companies rose for every one that fell in the Stoxx Europe 600 Index. Basic resources stocks led the advance, as BHP Billiton Ltd., the biggest mining company, rallied 2.2 percent. Barclays advanced 2.9 percent even after reporting profit declined. Adecco gained 4.4 percent. Swisscom AG jumped 2.4 percent after profit beat estimates. Yen Climbs The yen advanced 0.7 percent to 80.63 per dollar, and gained 0.6 percent to 112.34 per euro. The Swiss franc rose against 11 of its 16 most-traded counterparts. The Dollar Index, which tracks the greenback against the currencies of six trading partners, fell for the first time in three days. China’s State Administration of Foreign Exchange said it will strengthen the auditing of overseas fundraising and force banks to hold more foreign exchange, joining countries from Brazil to Thailand that have sought to curb currency fluctuations. The Shanghai Composite Index fell 0.8 percent. The yuan appreciated 0.51 percent, the most since a dollar peg was scrapped in July 2005, after the People’s Bank of China raised a reference rate for trading the currency. Treasuries were little changed, with the yield on the 10- year note up two basis points to 2.57 percent, before the government auctions $24 billion of similar-maturity securities today. European Debt The extra yield, or spread, that investors demand to hold Portuguese 10-year bonds instead of similar-maturity benchmark German bunds rose as much as 13 basis points to a record 452 basis points, while Irish bonds slumped for the 11th day, driving the spread with bunds to 552 basis points, also an all- time high, even as European Union Economic and Monetary Affairs Commissioner Olli Rehn said Ireland hasn’t asked for aid. The cost of insuring against a default on Portuguese and Irish government bonds rose to records based on closing prices. Credit-default swaps insuring Portugal’s debt climbed 3 basis points to 470, while contracts on Ireland increased 3 basis points to 602, according to CMA. The MSCI Emerging Markets Index added 0.4 percent. Russia’s Micex stock index rose 1.71 percent as commodities and oil advanced. Poland’s WIG20 Index gained 1 percent with shares of the Warsaw Stock Exchange rallying 23 percent on their first day of trading. The Jakarta Composite Index increased 1 percent to close at a record and Dubai’s Financial Market General Index gained 1.3 percent.
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#1. To: Brian S (#0)
China about to do something about this. " Next time, we will begin a consideration of the more fundamental lies, the lies that have become life itself for most Americans -- lies that we have made so necessary to our continued existence, no matter how increasingly shabby and pathetic that existence is now and into the foreseeable future, that we refuse to even mention them. So we will mention them here, in detail and at length. posted by Arthur Silber at 10:26 AM" And Americans are clueless. What do you tink happens when China raises it's Interest Rates. Why America fires an ICBM is what I'd be thinkin': And the AMAZING here is that millions in LA SAW the SOB's Contrail and....Wait for it... Not One Fucking word in the MSM. Not One. The Thanksgiving Eve NewsDump will have Americans NonPlussed. 8D
#2. To: All (#1)
News for mystery missile launch 2. CBS News Video catches mystery missile launch off L.A. coast46; - 44 minutes ago MISSILE MYSTERY: On Monday night, a KCBS helicopter captured a gorgeous shot of a missile taking off into the golden sunset off the coast of Los Angeles. ... Los Angeles Times - 24 related articles
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