Monthly Archives: April 2009
FX Daily Squawk
Thin trading within major currencies has let the US Dollar extend some losses. The Euro is still losing ground against the US Dollar. Positive statements from the FOMC and relatively upbeat consumer spending data helped provide a small boost for emerging currencies. The fact that the World Health Organization has raised its threat level of the swine flu epidemic has not had a significant impact on the FX markets.
World equity markets are generally stronger today. In Asia, the MSCI Asia-Pacific index rose over 3%. The Nikkei is up about 4%. Indexes were up in Hong Kong, South Korea, India and Singapore. In Europe, the DAX is up over 18% for the month. Canada’s TSE was the first G7 equity market to be positive for 2009 so far. The S&P is up around 9.5% for the month.
FX Daily Squawk
The US Dollar and Japanese Yen are treading lower against major currencies, but today’s US GDP report may cause the US Dollar to rally. The Euro appears to be giving up some ground. Let’s see how the currency markets are affected after the FOMC meeting today. Japan was closed today for the Showa holiday.
World equity markets are holding steady. In Asia, the MSCI index closed up about 2% today. European markets are up around 1% in this morning’s trading. Early indications suggest that US markets will open slightly higher.
Fed Chairman Bernanke made comments about some improvements in the US economy and some economic data has concurred with his statements. The sentiment is that the downturn in the economy is abating. That message will likely be carried through the FOMC meeting today. Even if there is disappointment that there is not further quantitative easing, the Fed will assure everyone that it will use all of the available tools in its toolbox to address this seemingly prolonged economic crisis.
Some evidence that a global contraction is occuring, can be shown through South Korea and New Zealand, where both countries have reported improvements in exports. Overseas shipments for South Korea have increased by 10% since February of this year. That is quite a bit, considering it makes up over 50% of their GDP. These are perhaps some early signs that the world export market is beginning to stabilize, as are the US and Chinese economies…fxWorldMarkets.
Who is Your Favorite CEO of All Time?
The failure or success of a company, ultimately lies on the CEO and the Executive Management team. It is the CEO’s job to foresee the future of their industry and create a plan and course of action to achieve the success they desire for their company by understanding, listening, delegating, interpreting and nurturing the talent within their company. They are captain’s of a ship and their navigation must be precise, or they will face impending doom.
So who are the best CEOs of all time? Portfolio.com set out to answer that difficult question. They assembled a panel of professors from top business schools around the country and through historical records of CEO’s that provided the best innovation, value and management skills, came up with a list of the 20 Best American CEOs of all time.
Here is the list:
1. Henry Ford – The father of the moving assembly line and the founder of Ford Motor Company.
2. J.P. Morgan – Bailed out the US Treasury two times and the term “Morganization” was coined after him for his unparalleled ability to turn-around poorly managed companies.
3. Sam Walton - A plain man who only wanted to create a great company. It became the largest company in the world.
4. Alfred Sloan – Turned GM around and was the first one to create cars based on specific demographics, as opposed to a one-size-fits all approach.
5. Lou Gerstner – Known for restructuring and turning IBM around.
6. John D. Rockefeller – Had almost 90% of the petroleum refining market within a 7 year period and controlled the majority of the US oil industry.
7. Steve Jobs – The Apple legend…enough said.
8. Jeff Bezos – Led by micromanaging. It looks like it paid off for him.
9. Andrew Carnegie – The Carnegie (US Steel) Steel baron who gave away most of his billion dollar fortune.
10. Bill Gates – The co-founder of the software giant Microsoft. He is the “Rock Star” of CEO’s, as far as recognizable figureheads are concerned.
You can view the full “top 20″ list of CEO rankings by going to Portfolio.com.
FX Daily Squawk
The US dollar and Japanese Yen are holding steady against the major currencies, on news that the outbreak of swine flu has been upgraded by the World Health Organization. Also making big news, was the fact that regulators have told Citigroup and Bank of America they need to raise additional capital as a result of the stress test. The Euro has been trading in a narrow range, hovering near $1.30. The pound has recouped some of its early losses, with the better than expected CBI trades survey (at +3 vs. -44 in March and vs. -40 exp). The Mexican peso has continued its downward slide, giving up another 0.5% overnight.
FX Daily Squawk
Apr 29
Posted by John Taxiarchos
The US Dollar and Japanese Yen are treading lower against major currencies, but today’s US GDP report may cause the US Dollar to rally. The Euro appears to be giving up some ground. Let’s see how the currency markets are affected after the FOMC meeting today. Japan was closed today for the Showa holiday.
World equity markets are holding steady. In Asia, the MSCI index closed up about 2% today. European markets are up around 1% in this morning’s trading. Early indications suggest that US markets will open slightly higher.
Fed Chairman Bernanke made comments about some improvements in the US economy and some economic data has concurred with his statements. The sentiment is that the downturn in the economy is abating. That message will likely be carried through the FOMC meeting today. Even if there is disappointment that there is not further quantitative easing, the Fed will assure everyone that it will use all of the available tools in its toolbox to address this seemingly prolonged economic crisis.
Some evidence that a global contraction is occuring, can be shown through South Korea and New Zealand, where both countries have reported improvements in exports. Overseas shipments for South Korea have increased by 10% since February of this year. That is quite a bit, considering it makes up over 50% of their GDP. These are perhaps some early signs that the world export market is beginning to stabilize, as are the US and Chinese economies.
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