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U.S. stock market report
1719 ET 12Jan2010-US STOCKS
Bank levy fears, Alcoa batter Wall Street
U.S. stocks slid in a broad sell-off on Tuesday as investors pummeled financials on concerns about a potential government levy on banks, while Alcoa Inc's disappointing results tempered optimism about the economic recovery.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1634 ET 12Jan2010
Nasdaq short interest ticks down in late December
Short interest on the Nasdaq fell 0.84 percent in the second half of December, the exchange said on Tuesday, suggesting a decrease in bearish sentiment in the stock market.
As of Dec. 31, short interest fell to about 6.40 billion shares from 6.46 billion shares as of Dec. 15.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1605 ET 12Jan2010-US STOCKS SNAPSHOT
Market ends down on Alcoa, bank jitters
U.S. stocks fell in a broad selloff on Tuesday as investors pummeled financials on concerns about a potential government levy on banks, while Alcoa Inc's weaker-than-expected results tempered optimism.
Based on the latest available data, the Dow Jones industrial average fell 37.86 points, or 0.36 percent, to end at 10,626.13. The Standard & Poor's 500 Index was down 10.82 points, or 0.94 percent, at 1,136.16. The Nasdaq Composite Index was down 30.10 points, or 1.30 percent, at 2,282.31.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1526 ET 12Jan2010 Citi March $4 call options become popular
Citigroup's March 2010 $4 call option has become the option crowd's favorite. Late in the day, the $4 call strike traded 125,482 times against open interest of 697,112 contracts, according to Reuters data. The sizable volume included a recent purchase of 36,000 contracts at 12 cents per contract on the Philadelphia Stock Exchange, said WhatsTrading.com option strategist Frederic Ruffy. Earlier in the session, a sweep buyer lifted 5,365 contracts at 12 cents per contract on the International Securities Exhange. Ruffy surmised that premium buyers were responsible for most of the volume. With shares down 13 cents to $3.50 in afternoon trade, some traders might be using Tuesday's weakness to take bullish positions on the bank, he said. Saudi billionaire Prince Alwaleed bin Talal, a major shareholder in Citigroup, said on Monday he expected the U.S. bank to post a profit in 2010. For details, see. Its earnings are due on Jan. 19, Ruffy said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1427 EST 12Jan2010-BofA
ML ups equities in asset allocation
Bank of America-Merrill Lynch on Tuesday raised its asset allocation to equities to 65 percent from 60 percent, saying that equities were the 'humiliated' asset class.
'Long-term investors should always buy 'humiliation' and sell 'hubris,' the firm wrote to clients.
As part of its call, BofA-ML lowered its weighting in bonds to 30 percent from 35 percent.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1416 ET 12Jan2010 Players initiate call spreads in bullish dollar ETF
Shares of the PowerShares DB US Dollar Index Bullish Fund slipped 1 cent to $22.71 in late trade. But in the options market, dollar bulls established call spreads on the ETF, which is the Deutsche Bank Long US Dollar Futures Index, designed to replicate the performance of the greenback against a basket of currencies of its major trading partners, said Interactive Brokers Group market analyst Andrew Wilkinson.
Call-spreaders purchased 20,000 calls at the June $23 strike for an average premium of 60 cents apiece, and sold 20,000 calls at the higher June $26 strike for eight cents each, he said. Investors paid an average net cost of 52 cents per contract for the debit spreads. Option traders are positioned to accrue profits if the price per UUP share rallies 3.57 percent to breach the breakeven price of $23.52 by June expiration. Maximum potential profits of $2.48 per contract are available to the investors if the index comes roaring back up to $26 per share, he said. The UUP last settled above the strike price last Thursday and has only closed above $23 per share on 10 occasions since the start of December.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Real-time Equity news
U.S. stock market report
1719 ET 12Jan2010-US STOCKS
Bank levy fears, Alcoa batter Wall Street
U.S. stocks slid in a broad sell-off on Tuesday as investors pummeled financials on concerns about a potential government levy on banks, while Alcoa Inc's disappointing results tempered optimism about the economic recovery.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1634 ET 12Jan2010
Nasdaq short interest ticks down in late December
Short interest on the Nasdaq fell 0.84 percent in the second half of December, the exchange said on Tuesday, suggesting a decrease in bearish sentiment in the stock market.
As of Dec. 31, short interest fell to about 6.40 billion shares from 6.46 billion shares as of Dec. 15.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1605 ET 12Jan2010-US STOCKS SNAPSHOT
Market ends down on Alcoa, bank jitters
U.S. stocks fell in a broad selloff on Tuesday as investors pummeled financials on concerns about a potential government levy on banks, while Alcoa Inc's weaker-than-expected results tempered optimism.
Based on the latest available data, the Dow Jones industrial average fell 37.86 points, or 0.36 percent, to end at 10,626.13. The Standard & Poor's 500 Index was down 10.82 points, or 0.94 percent, at 1,136.16. The Nasdaq Composite Index was down 30.10 points, or 1.30 percent, at 2,282.31.
For more please double click
Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net
1526 ET 12Jan2010 Citi March $4 call options become popular
Citigroup's March 2010 $4 call option has become the option crowd's favorite. Late in the day, the $4 call strike traded 125,482 times against open interest of 697,112 contracts, according to Reuters data. The sizable volume included a recent purchase of 36,000 contracts at 12 cents per contract on the Philadelphia Stock Exchange, said WhatsTrading.com option strategist Frederic Ruffy. Earlier in the session, a sweep buyer lifted 5,365 contracts at 12 cents per contract on the International Securities Exhange. Ruffy surmised that premium buyers were responsible for most of the volume. With shares down 13 cents to $3.50 in afternoon trade, some traders might be using Tuesday's weakness to take bullish positions on the bank, he said. Saudi billionaire Prince Alwaleed bin Talal, a major shareholder in Citigroup, said on Monday he expected the U.S. bank to post a profit in 2010. For details, see. Its earnings are due on Jan. 19, Ruffy said.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
1427 EST 12Jan2010-BofA
ML ups equities in asset allocation
Bank of America-Merrill Lynch on Tuesday raised its asset allocation to equities to 65 percent from 60 percent, saying that equities were the 'humiliated' asset class.
'Long-term investors should always buy 'humiliation' and sell 'hubris,' the firm wrote to clients.
As part of its call, BofA-ML lowered its weighting in bonds to 30 percent from 35 percent.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
1416 ET 12Jan2010 Players initiate call spreads in bullish dollar ETF
Shares of the PowerShares DB US Dollar Index Bullish Fund slipped 1 cent to $22.71 in late trade. But in the options market, dollar bulls established call spreads on the ETF, which is the Deutsche Bank Long US Dollar Futures Index, designed to replicate the performance of the greenback against a basket of currencies of its major trading partners, said Interactive Brokers Group market analyst Andrew Wilkinson.
Call-spreaders purchased 20,000 calls at the June $23 strike for an average premium of 60 cents apiece, and sold 20,000 calls at the higher June $26 strike for eight cents each, he said. Investors paid an average net cost of 52 cents per contract for the debit spreads. Option traders are positioned to accrue profits if the price per UUP share rallies 3.57 percent to breach the breakeven price of $23.52 by June expiration. Maximum potential profits of $2.48 per contract are available to the investors if the index comes roaring back up to $26 per share, he said. The UUP last settled above the strike price last Thursday and has only closed above $23 per share on 10 occasions since the start of December.
Reuters Messaging: doris.frankel.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.