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One Stop Investment & Insurance & Tax Consultancy-Life Insurance....General Insurance including Health Insurance..Motor Insurance..Marin..Fire & Burglary Insurance,,overseas mediclaim Insurance..Personal Accident etc.Insurance..Mutual Fund Investment with UTI,SBI,Reliance,ICICIPru,Birla Sunlife,HDFC,Kotak Mahindra etc.. Fixed Deposits with HDFC Deposits and Revenue Matters including Income Tax,Service Tax etc Works...The Total Investment & Insurance Solutions
Saturday 19 November 2016
Even the worst of SIP’s would have given you more than your PPF returns -The Total Investment & Insurance Solutions
Friday 18 November 2016
'No move to seal bank lockers, confiscate jewellery'-The Total Investment & Insurance Solutions
Contact Your Financial
Adviser Money Making MC
18
November 2016
Scoffing at rumours, the Finance
Ministry on Friday said there was no move to seal bank lockers nor was it true
that the ink of the new Rs 2,000 notes has been bleeding in some cases. The Total Investment
& Insurance Solutions
"Myth: Next move is to seal
bank lockers and confiscate gold, diamonds and jewellery. Reality: This is
baseless. There is no proposal to seal bank lockers and confiscate the
jewellery," the ministry tweeted in its official Twitter account. The Total Investment
& Insurance Solutions
The ministry also said the Rs 2,000
notes have a safety feature, which is called "intaglio" (a design
that is incised or engraved into a material). The Total Investment
& Insurance Solutions
"To identify a genuine note
when you rub it against a cloth, a turbo-electric effect is generated and it is
due to this that the note's ink gets transfrred on to the cloth," the
ministry said.The
Total Investment & Insurance Solutions
GM Mustard: What is wrong with the appraisal processes? -The Total Investment & Insurance Solutions
Contact Your Financial Adviser Money Making MC
18
November 2016
 |
| Mustard (The Total Investment & Insurance Solutions) |
To begin with, public funds should not have
been wasted on developing an herbicide tolerant (HT) genetically modified (GM)
crop. Further, regulators should not have ever entertained an application for a
HT crop and allowed it to come this far. It is by now established that no
testing of GM mustard has been done as needed for HT crops. This is because
both the crop developer and the regulators have been denying that it is an
Herbicide Tolerant crop! They argue that they are not recommending it to be
used as a HT crop, as though farmers are going to wait for such
recommendations, if they see a “convenience factor” in using a chemical instead
of employing women for removal of crop weeds. To that extent, all testing so
far for environmental and health safety impacts automatically stand null and
void, since the use of herbicides will certainly leave its own environmental
and health effects, apart from serious socio-economic impacts. The Total Investment & Insurance
Solutions
Importantly, several environmental safety
tests were done by the crop developers themselves. For all tests, protocols
were developed by the crop developers, as admitted in response to an
application filed under the Right to Information (RTI) Act. This then means
that convenient protocols will be adopted and not necessarily the most rigorous
ones that assess risks. The Total
Investment & Insurance Solutions
After the crop developers did deceptive and
misleading tests to use convenient study protocols and come up with favourable
results, and after they submitted their application with a biosafety dossier
seeking permission for commercial cultivation, the regulators took over to
continue the farcical processes in the name of risk appraisal. A sub-committee
was set up in the month of January 2016 with seven members of the GEAC. At
least four of these seven members hold objectionable conflict of interest and
should not have been placed in the sub-committee at all. This sub-committee ran
hasty processes for reasons best known to itself. Most importantly, there was
no independent health safety expert and the one person named as a health expert
(who has industry connections) did not actually participate in the
sub-committee or Genetic Engineering Appraisal Committee (GEAC) meetings as per
RTI information obtained. This then means that without any independent health
safety expertise appraising the GM mustard dossier, health safety clearance has
been given to this transgenic food crop!
The GEAC invited a team of eight experts to
share their views in a specially convened meeting of the Committee on 18 July
2016. However it chose to ignore all the points that they raised by summing up
their presentations in a shoddily and incorrectly documented one-pager. More
importantly, it was only later that it came to light that the sub-committee had
already completed its processes of appraisal in its second meeting in April
2016! The Total Investment &
Insurance Solutions
As though this was not enough, a document
called the Assessment of Food/ Feed and Environmental Safety (AFES) of GM
mustard was put up by GEAC on its website on 5 September 2016 inviting public comments
on the same for a month, till 5 October 2016. In its notice inviting public
comments, GEAC stated that any citizen interested in reviewing the full
biosafety dossier may come all the way to Delhi, to the GEAC secretariat and by
prior appointment, to look at the dossier.
Please note that even if you had travelled to
Delhi from Kanyakumari or Kolkata, the regulators expect you to memorise the
4,000 page document and do mental analysis and give your feedback but would not
allow you to take photocopies or photographs of the material put in front of
you. The regulators refused to publish the biosafety dossier on their website,
as they did with BT brinjal and BT cotton, despite earlier orders from the
Supreme Court and Central Information Commission (CIC) and more recent CIC
orders on the subject. The Total
Investment & Insurance Solutions
All this makes you wonder what is it that the
regulators are hiding from public gaze and why?
Why
do we stress on rigorous, open and participatory processes?
There are at least three reasons why the regulators
have to run fool proof appraisal processes. One, the regulatory body does not
have all the areas of expertise required for decision-making on the subject and
fulfilment of their mandate. They will therefore have to fall back on such
expertise that exists in the public. Two, the regulatory body has objectionable
conflict of interest as has been shown time and again. Therefore, their
appraisals are not trust-worthy and cannot be considered independent objective
processes. And lastly, no independent biosafety testing takes place in India.
In such a case, at least independent analysis and scrutiny is the only way to
arrive at robust decisions. The Total
Investment & Insurance Solutions
It is important to note that the very science
and technology of genetically modified organisms (GMOs) is imprecise and
unpredictable enough, that GMOs can be passed off as safe only by compromising
on scientific rigour, by scientific subterfuge. And that is what is happening
with GM mustard too, as has been seen with Bt brinjal. It is therefore
important to make sure that hasty, lax and opaque processes are not run by our
regulators for their decision-making. It is important to ensure that
independent science is able to catch lack of safety inherent in the technology.
This is not being allowed to happen right now.The Total Investment & Insurance Solutions
High-dollar Prescribers Proliferate in US Medicare’s Drug Program -The Total Investment & Insurance Solutions
Contact Your Financial Adviser Money Making MC
18
November 2016
 |
US Medicare (The Total Investment & Insurance
Solutions)
The number of doctors who each
prescribe millions of dollars of medications annually in Medicare's drug
program has soared, driven by expensive hepatitis C treatments and rising drug
prices overall, federal data obtained by ProPublica shows.
The number of providers who topped the
$5 million mark for prescriptions increased more than tenfold, to 514 in 2015
from 41 in 2011. The number of prescribers—mostly physicians but also nurse
practitioners—exceeding $10 million in drug costs jumped from two to 70 over
the same time period, according to the data. The Total Investment & Insurance Solutions
Most of the doctors atop the spending
list prescribed Harvoni or Sovaldi, relatively new drugs that cure hepatitis C.
Other providers on the list prescribed pricey drugs to treat cancer, multiple
sclerosis and rheumatoid arthritis. The
Total Investment & Insurance Solutions
Medicare's drug program, known as Part
D, covers more than 41 million seniors and disabled people. In 2015, it
accounted for $137.4 billion in drug spending, before factoring in
rebates from drug companies. That was up from $121.5 billion a year earlier.
"The trends in this space are
troubling and don't show any signs of abating," said Tim Gronniger, deputy
chief of staff at the Centers for Medicare and Medicaid Services, the federal
agency that runs Medicare. "It's going to be a pressure point for patients
and the program for the foreseeable future." The Total Investment & Insurance Solutions
During the recent presidential
campaign, both Hillary Clinton and Donald Trump pledged to tackle the rising
costs of prescription drugs. Since his election, however, President-elect
Trump's transition agenda for health care hasn't featured the topic, a shift the Los Angeles Times reported.
Medicare has released top-level data
on drug spending for 2015, including the number of doctors who prescribed
medications worth more than $1 million. But the agency has only published data on individual doctors up to 2014. The Total Investment & Insurance
Solutions
Dr. Ben Thrower,
medical director of the Multiple Sclerosis Institute at the Shepherd Center in
Atlanta, was near the top of the list in 2014. He prescribed medications
costing $11.5 million that year, mostly for multiple sclerosis drugs. "We
get that it's very expensive," Thrower said. "I think all the MS
providers working in the U.S. would like to see the costs go down." But
prices have climbed steadily in recent years for drugs used to treat the
neurological condition, even those that have been on the market for
quite a while.
Most of the spending on Thrower's
prescriptions — $8.5 million — was for MS drugs Tecfidera and Copaxone, which
can slow progression of MS and reduce the chance of relapse. Thrower has received payments from the
makers of those and other
MS drugs, but said he cut ties with the companies in January of this year. The Total Investment & Insurance
Solutions
"It was kind of exciting when the
first one came out," Thrower said. "The problem we've seen is the
cost for these drugs has just gone up and up and up."
Thrower said he no longer prescribes
Tecfidera to new patients because it can lower white blood cell counts, putting
them at risk for infections.
Notes: Counts
include initial prescriptions and refills dispensed. Retail price includes
patients' out-of-pocket costs but does not reflect drug maker rebates. *Average
prescriptions per patient, per provider has been adjusted to give more weight
to doctors who treat more patients. (The unadjusted average is 5.6). The Total Investment & Insurance
Solutions
Just because a doctor prescribes
costly drugs doesn't mean he or she has done anything wrong, Gronniger said.
"It's much more about drug pricing ... than it is about the behavior of
any individual physician, many of whom are equally concerned about the price of
these products as we are." The
Total Investment & Insurance Solutions
Today, ProPublica is updating its Prescriber Checkup online tool, which allows you to look
up your doctor and see how his or her prescribing in Medicare Part D compares
to others in the same specialty and state. Our tool covers the year 2014. You
can compare the percentage of each doctor's prescriptions that were for
brand-name medications, the average cost per prescription and the average
number of prescriptions per patient, among other things.
Allyson Funk, a spokeswoman for the
Pharmaceutical Research and Manufacturers of America, the industry trade group,
said Medicare's figures leave out important context.
"It is important to note
physicians' prescribing patterns are dynamic and based on individual patient
needs," she said in a statement. "When looking at Medicare Part D,
government data on spending at the point of sale does not include the
substantial rebates for brand name medicines negotiated between manufacturers
and plans and therefore does not accurately reflect actual prescribing dollars
or program spending." The Total
Investment & Insurance Solutions
These rebates are confidential by law,
but Medicare said this week that the average rebate for brand-name drugs in 2014 was 17.5 percent.
The new data on high-spending
prescribers is the latest indication of the burden of drug prices on government
health programs. The Total Investment
& Insurance Solutions
In the past couple of years,
Medicare's drug tab has surged, in large part because it picks up the vast
majority of the cost of drugs once enrollees exceed a certain threshold each
year. In 2015, beneficiaries over the limit, which was $4,700, spent $51.3
billion on drugs. In 2013, the figure was $27.7 billion, government data shows.
(Taxpayers, through Medicare, pick up 80 percent of the cost of this so-called
catastrophic benefit.) The Associated Press first reported the ballooning cost in July. The Total Investment & Insurance Solutions
Another sign could be seen in a drug dashboard released by
Medicare this week. It
showed that 1 percent of drugs prescribed in the Part D program accounted for
more than one-third of the program's cost in 2015 (before rebates). Some drugs
were incredibly expensive. The drug H.P. Acthar Gel, used to treat several
conditions, such as multiple sclerosis relapses and a rare kidney disease, cost
an average of $162,371 for each of its 3,104 users—a higher per-user cost than
any other drug in the program. That's up significantly from several years ago,
when ProPublica flagged the drug's
expense. The Total Investment
& Insurance Solutions
Harvoni, used by more than 75,000
people, cost an average of $92,847 per person, for a total cost of $7 billion
(also before any rebates). The Total
Investment & Insurance Solutions
Michael Chernew, a professor of health
care policy and director of the Healthcare Markets and Regulation Lab at
Harvard Medical School, said the number of high-dollar prescribers in Medicare
doesn't surprise him. Given the increased cost of prescription drugs and the
latest treatment advances, "the entire distribution is shifting to the
right."
Chernew said that, in the long term,
Medicare and insurance companies have to examine the total cost of caring for
patients with certain diseases, taking into account drugs, hospital visits,
medical tests and more. Only then can anyone tell if certain expenses, such as
a pricey new drug, are justified. The
Total Investment & Insurance Solutions
For now, he said, "How do we know
what's good or bad?"
Physicians say their top priority must
be the patients in front of them, not the costs to the system.
Dr. Bruce Bacon,
a liver specialist at St. Louis University, had the highest total Part D drug
costs in 2014, $22.7 million. He was a frequent prescriber of Sovaldi and
Olysio, another expensive hepatitis C medication. The Total Investment & Insurance Solutions
Bacon did not return a call for
comment for this story. In a 2015 interview, he said he did not realize his
prescriptions were so costly to Medicare.
"I really don't think about the
cost," he said. "I think about taking care of the patients. Should I
not take care of the patients because the cost is expensive?"
Thrower, the multiple sclerosis
specialist, said the high cost of drugs frustrates him and his colleagues, but
ultimately the successful treatment of patients comes first.
"On one hand, we get that,"
he said. "On the other hand, when you're sitting in the exam room and
looking someone in the eye, you can't say, 2018I'm not going to treat you
because of the cost.'"The Total
Investment & Insurance Solutions
Double Whammy: Why are Banks taking advantage of demonetisation to cut deposit rates? -The Total Investment & Insurance Solutions
Contact Your Financial Adviser Money Making MC
18
November 2016
 |
| Cut interest rate (The Total Investment & Insurance Solutions) |
Following huge cash inflows by customers due
to the demonetisation drive, several banks have announced a cut in interest
rates on deposits. This is double whammy for bank customers. On one hand, they
cannot withdraw more than Rs24,000 (per week) from their accounts and move to
other banks that are not cutting rates and on the other, they will earn less on
their money. Given the chaos around the country with people struggling to get
their money back even for weddings and medical expenses, banks should have been
barred from reducing interest rates until things are back to normal and people
have full access to their money, says a retired central banker. The Total Investment & Insurance
Solutions
"Why are banks taking advantage of
demonetisation to reduce interest rates? In a free market, one should be able
to move his or her money to another bank, which is paying more or not reducing
the interest rate. However, bank customers are not allowed to withdraw more
than Rs24,000 a week. So essentially, people are trapped into accepting lower
rates. It is only fair that banks should not be allowed to reduce deposit
interest rates until the situation is back to normal and full withdrawal is
permitted," said the banker.
State Bank of India (SBI), the country's
largest lender, cut fixed deposit (FD) rates on select maturities by up to
0.15%. SBI reduced rates on deposits from one year to 455 days to 6.90%, down
15 basis points, while keeping the 7% rate for deposits between 211 days to one
year unchanged. Taking a cue from SBI, two largest private sector lenders HDFC
Bank and ICICI Bank too reduced interest rates on FDs by up to 0.25%. United
Bank of India cut short-term interest rates by as much as 1%.
Canara Bank lowered FD interest rates by
0.05% to 0.25% effective from 21st November. Axis Bank too, cut its marginal
cost of fund-based lending rate (MCLR) by 0.15% to 0.20% due to higher cash
inflows by customers. The Total
Investment & Insurance Solutions
Banks are citing easy liquidity and slow
credit offtake as main reasons for cutting interest rates on deposits. However,
this is nothing but blatant misuse by banks of floating rate policies and 'free
hand regime' allowed by the RBI. When interest rates rise, banks immediately
step in to increase their spread, but fail to pass on the benefits to customers
when the situation is reversed. If, at all, banks have more liquidity and
credit offtake is slower, why are the lenders not lending more or even thinking
about reducing interest rate to attract more borrowers? And instead they are
cutting interest rates on deposits, that too when the customer is trapped?
There are lakhs of people, especially retired and senior citizens whose only
income source is the interest earned from bank deposits. Moreover, with banks
reducing interest rates on FDs, these people will be severely affected.
According to estimates, banks have collected
cash deposits of over Rs4 lakh crore following the demonetisation decision
announced on 8th November by Prime Minister Narendra Modi. SBI alone has
collected cash worth about Rs1.14 lakh crore between 10th November and 16
November 2016 through 240.90 lakh transactions. The Total Investment & Insurance Solutions
Nifty, Sensex may bounce back midweek – Weekly closing report-The Total Investment & Insurance Solutions
Contact Your Financial Adviser Money Making MC
18
November 2016
 |
| Weekly Indices (The Total Investment & Insurance Solutions) |
I had mentioned
in previous week’s closing report that Nifty and Sensex may continue to remain
under pressure. After a major fall in the first session of this week ended on
18th November, the stock market closed flat on Wednesday and Thursday. On
Friday, the indices showed an upward move however after around 1.20pm they again
started losing strength. It closed 2%-3% over Thursday’s close. The trends of
the major indices in the course of the week’s trading are given in the table
below:
The Total Investment & Insurance Solutions
The market sentiments on Friday were
affected by news from Europe and US. According to minutes of the European
Central Bank's (ECB) most recent meeting, policymakers were ready to boost
their €1.7 trillion stimulus again, if needed to ensure that Eurozone's economy
remains on its recovery path. The Total Investment & Insurance
Solutions
In the US, the Federal Reserve Chair
Janet Yellen's testimony has stressed the importance of central bank
independence in her first public remarks after Donald Trump's election victory
as new data showed the president-elect will inherit a strengthening economy.
The Federal Reserve chair told a congressional hearing on Thursday that an
increase in short-term interest rates could “become appropriate relatively
soon”, raising expectations of a rise at the Fed's next meeting in December. The Total Investment
& Insurance Solutions
There was news that the Indian
government may ban exchange of old Rs500 and Rs1,000 currencies in a few days
reasons being misuse of currency as well as use of multiple IDs by people to
exchange notes. Market anticipated the government to clarify the penalty
provisions for high value cash deposits. The Total Investment & Insurance
Solutions
Coming back to Indian stock markets,
on Monday, it was closed for Gurunanak Jayanti holiday. On Tuesday, the
benchmark indices closed 2% below over Friday’s close. Rupee depreciation on
the back of strong dollar and low crude oil prices, foreign fund outflows and
an anxiety over the impact of the demonetisation move plunged the equity
market. Data released on Tuesday showed a lower than expected wholesale price
index (WPI) for October. India’s annual rate of inflation based on wholesale
prices fell marginally to 3.39% for October from 3.57% for September 2016.
On Wednesday, market closed flat.
News from Asia showed that China's yuan weakened to an eight-year low as
expectations of higher US interest rates buoyed the dollar. US president-elect
Donald Trump threatened to label China a currency manipulator on his first day
in office and to slap punitive tariffs on Chinese imports. While back home,
there was news that Nasscom sees Indian IT-BPM industry to grow at 8-10% in the
financial year 2017, demonstrating sustained growth despite global headwinds. The Total Investment
& Insurance Solutions
On Thursday too, market closed on
lower levels. Market looked ahead for the possible rate hike by US Federal
Reserve's Chairman Janet Yellen. A hike in rate may lead foreign
portfolio investors (FPI) and funds away from emerging markets. This may also
affect the business margins of corporate sector, as access to capital from the
US will become more expensive. On the domestic front, the political bickering
over the government's demonetisation move and its impact on the winter session
of Parliament, too, eroded investors' confidence with it being adjourned. The Total Investment
& Insurance Solutions
Thursday 17 November 2016
Global Markets & News-The Total Investment & Insurance Solutions
Contact Your Financial
Adviser Money Making MC
17
November 2016
OVERNIGHT MARKETS AND NEWS
Dec E-mini S&Ps (ESZ16
+0.14%) are up +0.09% and European stocks are down -0.02%, both little changed
ahead of Fed Chair Yellen's testimony this morning before the Joint Economic
Committee of Congress. Dec WTI crude oil (CLZ16+1.54%) is up +1.12% and is
nudging energy producing stocks higher as OPEC and Russia prepare to meet in
Doha for more talks on coordinating oil production cuts. Asian stocks settled
mixed: Japan unch, Hong Kong -0.08%, China +0.11%, Taiwan +0.37%, Australia
+0.20%, Singapore +0.70%, South Korea +0.06%, India -0.27%. Global government
bond markets received a bid after the BOJ announced its first offer to buy an
unlimited amount of Japanese government bonds in its attempt to control the
yield curve. Global government bond yields have risen sharply over the past
week and the BOJ's action spurred short-covering in global bond markets.
The dollar index (DXY00
-0.39%) is down -0.39%. EUR/USD (^EURUSD) is up +0.38% after ECB Executive
Board member Mersch warned against "excessive expectations" for ECB
monetary policy. USD/JPY (^USDJPY) is down -0.06%.
Dec 10-year T-note prices
(ZNZ16 +0.06%) are up +4.5 ticks.
ECB Executive Board member
Mersch warned against "excessive expectations" for ECB monetary
policy and said the ECB's extraordinary stimulus measures are not intended to
be permanent and should be withdrawn as soon as possible.
Philadelphia Fed President Harker
said that he "has been supportive for a 25 bp rate hike in Sep, in Nov,
and definitely supports a 25 bp rate hike at the Dec FOMC meeting." He
added "we don't want to get behind the curve as when inflation stats to
rise, it tends to rise quickly." The Total Investment & Insurance
Solutions
U.S. STOCK PREVIEW
Key U.S. news today
includes: (1) Fed Chair Janet Yellen’s prepared speech released to the public
ahead of her testimony before the Joint Economic Committee of Congress, (2)
weekly initial unemployment claims (expected +3,000 to 257,000, previous
-11,000 to 254,000) and continuing claims (expected -11,000 to 2.030 million,
previous +18,000 to 2.041 million), (3) Oct housing starts (expected +10.7% to
1.159 million, Sep -9.0% to 1.047 million), (4) Oct CPI (expected +0.4% m/m and
+1.6% y/y, Sep +0.3% m/m and +1.5% y/y) and Oct CPI ex food & energy
(expected +0.2% m/m and +2.2% y/y, Sep +0.1% m/m and +2.2% y/y), (5) Nov
Philadelphia Fed business outlook survey (expected -2.1 to 7.6, Oct -3.1 to 9.7),
(6) New York Fed President William Dudley (voter) delivers welcoming remarks at
a conference on international macroeconomics and finance hosted by the New York
Fed, (7) Fed Chair Janet Yellen speaks on the economic outlook before the Joint
Economic Committee of Congress, (8) Treasury auctions $11 billion of 10-year
TIPS, and (9) USDA weekly Export Sales.
S&P 500 earnings
reports today include: Wal-Mart (consensus $0.96), Best Buy (0.47), Staples
(0.34), Applied Materials (0.65), Ross Stores (0.56), GAP (0.60), Intuit
(0.03), Salesforce.com (0.21), Helmerich & Payne (-0.43), JM Smucker
(1.93).
U.S. IPO's scheduled to
price today: none.
Equity conferences during
the remainder of this week include:
Morgan Stanley Global
Consumer & Retail Conference on Tue-Thu, Bank of America Merrill Lynch
Global Energy Conference on Wed-Thu, Jefferies London Health Care Conference on
Wed-Thu, Canaccord Genuity Medical Technology and Diagnostics Forum on Thu,
Vertical Research Partners Global Materials Conference on Thu, UBS Industrials
and Transportation Conference on Thum, Morgan Stanley European Technology,
Media & Telecom Conference on Fri. The Total Investment & Insurance
Solutions
OVERNIGHT U.S. STOCK MOVERS
Microsoft (MSFT +1.32%) was
upgraded to 'Buy' from 'Neutral' at Goldman Sachs with a price target of $68.
Chipotle Mexican Grill (CMG
+0.72%) was downgraded to 'Sell' from 'Neutral' at Guggenheim Securities.
Cisco (CSCO -0.41%) dropped
over 4% in pre-market trading after it said it sees Q2 adjusted EPS of 55
cents-57 cents, weaker than consensus of 59 cents.
NetApp (NTAP -0.40%) jumped
10% in after-hours trading after it reported Q2 adjusted EPS of 60 cents,
better than consensus of 54 cents.
Shopify (SHOP +1.10%) was
rated a new 'Buy' at BTIG LLC with a 12-month target price of $55.
EQT Midstream Partners LP
(EQM -2.31%) was rated a new 'Buy' at Drexel Hamilton LLC with a 12-month price
target of $86.
Performance Food Group
(PFGC +1.69%) slid over 2% in after-hours trading after it announced a
secondary offering of 10 million shares of common stock.
Amgen (AMGN +0.12%) gained
almost 1% in after-hours trading after it said migraine suffers treated in a
second Phase 3 study of its erenumab drug significantly reduced their migraine
days compared with a placebo.
L Brands (LB -1.14%) fell
2% in after-hours trading after it said it sees Q4 EPS of $1.85-$2.00, below
consensus of $2.03.
First Solar (FSLR -1.11%)
sank over 10% in after-hours trading after it said it sees 2017 adjusted EPS of
break-even to 50 cents, well below consensus of $1.82.
Planet Fitness (PLNT
+0.12%) dropped nearly 4% in after-hours trading after it announced a secondary
offering of 15 million shares of common stock.
Aclaris Therapeutics (ACRS
-2.43%) tumbled 10% in after-hours trading after it announced a public offering
of $65 million of common stock. The Total Investment & Insurance Solutions
MARKET COMMENTS
Dec E-mini S&Ps (ESZ16
+0.14%) this morning are up +2.00 points (+0.09%). Wednesday's closes: S&P
500 -0.16%, Dow Jones -0.29%, Nasdaq +0.58%. The S&P 500 on Wednesday
closed lower on the U.S. Oct industrial production report of unchanged (weaker
than expectations of +0.2%) and on concern that the Fed is closer to raising
interest rates after St. Louis Fed President Bullard (voter) said that December
would be a "reasonable time" to raise interest rates. Stocks were
boosted by the lack of price pressures on the wholesale level after the U.S.
Oct core PPI report of -0.2% m/m and +1.2% y/y was weaker than expectations of
+0.2% m/m and +1.6% y/y.
Dec 10-year T-notes (ZNZ16
+0.06%) this morning are up +4.5 ticks. Wednesday's closes: TYZ6 +1.50, FVZ6
-0.50. Dec 10-year T-notes on Wednesday recovered from a 10-1/4 month low and
closed higher on the the weaker-than-expected U.S. Oct PPI report and the
weaker-than-expected U.S. Oct manufacturing and industrial production data. Dec
10-year T-notes posted a 10-1/4 month low early in the session on hawkish
comments from St. Louis Fed President Bullard who said that next month's FOMC
meeting would be a "reasonable time" to raise interest rates.
The dollar index (DXY00
-0.39%) this morning is down -0.390 (-0.39%). EUR/USD (^EURUSD) is up +0.0041
(+0.38%). USD/JPY (^USDJPY) is down -0.06 (-0.06%). Wednesday's closes: Dollar
index +0.180 (+0.18%), EUR/USD -0.0031 (-0.29%), USD/JPY -0.12 (-0.11%). The
dollar index on Wednesday rose to a 13-1/2 year high and settled higher on
hawkish comments from St. Louis Fed President Bullard who said that December
would be a "reasonable time" to raise interest rates. In addition,
the Chinese yuan fell to a 7-3/4 year low against the dollar on concern over
President-elect Trump's trade policies with China. EUR/USD fell to an 11-1/2
month low as the Fed is expected to raise interest rates while the ECB
maintains or even expands its QE program.
Dec crude oil prices (CLZ16
+1.54%) are up +51 cents (+1.12%) and Dec gasoline (RBZ16 +1.61%) is up +0.0183
(+1.39%). Wednesday's closes: Dec crude -0.24 (-0.52%), Dec gasoline -0.0181
(-1.36%). Dec crude oil and gasoline on Wednesday closed lower as Dec crude
retreated from a 2-week high. Crude oil prices were undercut by the rally in
the dollar index to a 13-1/2 year high and by the EIA report, which showed a
+5.274 million bbl increase in weekly EIA crude inventories (vs expectations of
+1.5 million bbl) and an unexpected +746,000 bbl increase in EIA gasoline
inventories (vs expectations for a -700,000 bbl draw). Crude posted a 2-week
high early in the session on optimism OPEC will be able to agree on production
cuts after Russian Oil Minister Novak said he sees a "high chance" of
an OPEC accord on Nov 30.The Total Investment & Insurance Solutions
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