Weak Economic Recovery Does Not Create Jobs Fed speakers warn that rising unemployment would hurt consumers and restrain the economic recovery. Janet Yellen describes the recovery as I do, “L” shaped, but I do not see a gradual tilt that she does. The commercial real estate market and problems among small businesses will weigh on the economic recovery. Small businesses have accounted for 45% of the job losses pushing the unemployment rate to 10.2%. Small businesses are counted on to create jobs, but that seems unlikely given tight credit conditions and uncertainties on healthcare reform. The Dollar Index traded to a new low for the move at 74.86 this morning. The Index was lower between March 2008 and August 2008 with a low of 71.05. (Chart courtesy of Thomson / Reuters.) click to enlarge The dollar is extremely oversold on its weekly chart with a MOJO reading of 1.7. Note the up trend that connects the lows of April 2008 and July 2008 comes in at 74.48 this week. Resistance is the five-week modified moving average at 76.35. Between April 2008 and July 2008 dollar weakness saw the Dow decline from 13,136 in mid-May to 10,828 in Mid-July. Here’s my quote from USA Today Tuesday morning: Rich Suttmeier of ValuEngine.com warns that using cheap dollars to speculate on other investments can backfire if the dollar rises in value and investors all run for the exit at the same time. "When it ends, it will end badly." Complete Story »

  The LFB submits:Overall, the currency market saw a flat Asian session, but around the European opening bell, the dollar index started declining at a strong pace against the major pairs. However, this sell-off was somehow short-lived, since at market came to a standstill and had some attempts to turn around during the BoE Inflation Report. Looking ahead, the U.S. session will be influenced by the U.S. Veterans’ day and by the Canadian’s Remembrance Day.click to enlargeComplete Story »

  The LFB submits:Equity Futures: Dow +65.00. S&P +7.60. NASDAQ +10.00. Japanese Nikkei +90.00. German Dax +20.00. European Trade: European markets saw strong positive momentum from the opening bell, with the major indexes surging approximately 1%. The same positive momentum also influenced the S&P futures, helping the index reach a new yearly high, after it broke above the 1100.00 area. Complete Story »

  Donald Marron submits:Back in July, I expressed concern that Congress might undermine a key pillar of U.S. economic policy: the independence of the Federal Reserve. Why is that so important? Because independent central banks do a better job of controlling inflation. Inflation may not be an immediate threat to the U.S. economy, but as that day approaches, the Federal Reserve needs to be able to pull back on monetary stimulus without political interference.Complete Story »

  Gary Gordon submits: Most people believe that gold only goes up in bad economic times… as a hedge against an inflationary recession, a deflationary depression or protection against dollar devaluation. In the current uncertainty, gold seems to fit the bill perfectly. However, Blackrock’s Doll explains that gold actually performs best in times when the global economy is recovering and when central bank policies are stimulative. Both the recent Fed meeting and the G-20 Summit confirmed that stimulus is going to continue, a further tailwind for gold investing.Complete Story »

  Abbi Adest submits:Rue21 (RUE), a specialty teen apparel retailer with 500 stores in 43 states, is expected to go public this week. According to Renaissance Capital:After emerging from bankruptcy in 2002 with a new management team, the firm has doubled its store base in the last three years and has averaged 8% same-store sales growth over the last five quarters.Complete Story »

  Matthew Goldstein submits: Larry Fink has an interesting take on what constitutes a conflict of interest on Wall Street. The BlackRock (BLK) chief executive presides over a behemoth that has played an ever-growing role in managing troubled assets taken on by the federal government during the heat of the financial crisis.Complete Story »

  Jim Delaney submits: With all of the hot air we’ve seen expended over the last 2+ years, mostly in that non-state wedged between Virginia and Maryland, I for one have wondered if there was a way to harness that energy and possibly end this whole “dependence on foreign” oil problem. Warren Buffett, a man who has demonstrated he knows how to put his money where his mouth is, is complimenting his “green bet” on trains with Mid-American Energy Holdings which recently won approval for a $2BN wind farm from an Iowa utility.Complete Story »

  David Hunkar submits: The complete list of Dutch ADRs traded on the U.S. exchanges is listed below: ADR Name Ticker Industry Aegon - New York Shares AEG Life Insurance ASM International - New York Shares ASMI Tech.Hardware&Equip. ASML - New York Shares ASML Tech.Hardware&Equip. CNH Global CNH Industrial Engineer. Corporate Express CXP Support Services Crucell CRXL Pharma. & Biotech. ING Groep ING Life Insurance Koninklijke Philips Electronics - New York Shares PHG Leisure Goods Reed Elsevier NV ENL Media Unilever - New York Shares UN Food Producers Complete Story »

  Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Tuesday November 10.The Ultimate Stealth Bull Market: XTO Energy (XTO), Apple (AAPL), Microsoft (MSFT), Apache (APA), Occidental Petroleum (OXY), BP (BP), Burlington Northern (BNI), CSX (CSX), Union Pacific (UNP), Altria (MO), Coca Cola (KO), ConEd (ED)Complete Story »

  Saudi Aramco, national oil company of the world’s largest oil producer and exporter, decided earlier this month it will drop West Texas Intermediate (WTI) as the benchmark for pricing its oil for sale in the US market. In January 2010, Aramco will use the Argus Sour Crude Index (ASCI) to price its oil for the market; it’s heavier and has higher sulfur content than WTI. The index, launched in May, uses the volume-weighted average of daily spot sales of the three U.S. Gulf Coast medium sour crudes: Mars, Poseidon, and Southern Green Canyon. Complete Story »

  Washington's Blog submits: I posted an 11-page summary of Senator Dodd's financial reform bill yesterday.After receiving input from one of the top experts on credit rating agencies and various other smart people, I have now formed an opinion about Dodd's bill.Complete Story »

  Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Tuesday November 10.Bullish Calls:Watts Water Technology (WTS): "It is the only water stock that I have been recommending… and remember, I think that most of them cannot make money… this one can make money."Complete Story »

  Greentech Media submits: By Ucilia WangSolar panels that use little or no silicon are likely to more than double their global market share to reach 31 percent in 2013 from 14 percent in 2008, according to market research firm iSuppli Tuesday.Complete Story »