The DOW has had a remarkable recovery from the lows that were seen in March of ’09. The question now is, are we headed higher, or is the move over for now? In this new short video, I will show you some important aspects that I think will warrant your attention. While we are not saying that the market is going to crater, it’s in everyone’s...

by Tyler Durden The noose is tightening, even though one could speculate the one doing the tightening ought to be on the other side of the rope as well.  That said, we sure miss the days when Dick Bove used to provide instacommentary on Wells and Goldman, typically of the buy every dip format. That beard makes him look so wise and grizzled…...

The Market Ticker So the data is out…. Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 3.2 percent in the first quarter of 2010, (that is, from the fourth quarter to the first quarter), according to the “advance”...

Courtesy of JESSE’S CAFÉ AMÉRICAIN That statistic about Morgan Stanley was an eye opener in terms of percent of capital exposure. No wonder Angie Merkel is playing hard to get, holding out for more than another back rub. Morgan Stanley looks like it done slipped in the pig wallow. Gentlemen, start your presses. Bloomberg JPMorgan Has Biggest...

(Reuters) - The U.S. federal authorities are conducting a criminal probe into trading by Goldman Sachs, the Wall Street Journal reported on its website on Thursday without giving any more detail. (Bloomberg) – Federal prosecutors in New York have been examining transactions by Goldman Sachs Group Inc., accused of fraud by U.S. securities...

by Tyler Durden A chart comparing the UK “Spread of Spreads” (i.e., UK CDS – Germany CDS compared to Gilts over Bunds), indicates that the spread is now near record levels, and that the island nation may soon be dragged into the same vortex as the rest of the soon to be bailed out Club Med farm animals. As a reminder, this is comparable...

The Food and Drug Administration Thursday approved a new type of prostate cancer treatment from Dendreon Corp. The therapy, Provenge, is approved for certain men with advanced prostate cancer who have failed treatment with hormone therapy. “The availability of Provenge provides a new treatment option for men with advanced prostate cancer,...

Courtesy of John B. Lounsbury Economic activity in 49 states was down year-over-year in February.  Clusterstock Business Insider Chart of the Day has this in a graphic: Based on GDP and employment data, I have suggested that the NBER (national Bureau of Economic Research) will eventually decide that the recession ended sometime between July,...

It’s been an interesting week with Spain being downgraded as Europe debt crisis widens. This has investors looking at the US dollar in a new light thinking that maybe it’s not that bad of an investment after all. This sent the US Dollar higher along with the price of gold so far this week. The past 7 days we have seen both the US Dollar and...

Courtesy of Karl Denninger Tickerguy’s translation: Information received since the Federal Open Market Committee met in March suggests that economic activity has continued to strengthen and that the labor market is beginning to improve. Borrowing and spending 10% of GDP makes it appear the economy is doing reasonably well and has improved. ...

Courtesy of Mish China Business says China May Announce 4 Trillion Yuan Stimulus. China will announce in August a new stimulus package of possibly 4 trillion yuan ($586 billion), the China Business newspaper reported on its Web site, citing unidentified sources. The plan, from China’s National Development and Reform Commission, will likely cover...

Gregory White of Money Game Spain has been downgraded to AA by S&P, with a negative outlook to boot. The euro is now moving down sharply as a result. The Spanish IBEX is getting hammered as a result, currently down 3.3% From CDSPros.com:

From David Rosenberg of Gluskin-Sheff: The drama continues following S&P’s slice to Greece’s debt rating (to junk status of BB+, a three-notch decline, which prompted a surge in 2-year bond yields to a Zeus-like 15%) and the two-notch decline to Portugal’s rating, to A- from A+. The Euro has bounced back this morning and the flight to...

The Market Ticker You have to love this sort of utter claptrap… “Achieving long-term fiscal sustainability will be difficult, but the costs of failing to do so could be very high,” Bernanke said in remarks prepared for a speech today to a White House commission on the budget deficit. “Increasing levels of government debt relative to...

Courtesy of JESSE’S CAFÉ AMÉRICAIN This article by the Financial Times should remove any doubt in anyone’s mind that Goldman Sachs was willfully selling fraudulent financial instruments. It appears that they were working in conjunction with Ratings Agencies, Mortgage Origination Firms, and Hedge Funds to cheat investors. “Cheat”...