Headline News 16.12.10

AS & GLOBAL :

• Bursa saham AS mengalami aksi jual pada akhir sesi secara berturut dalam 3‐sesi terakhir. Setelah sempat naik kelevel tertinggi dalam kurun 2‐tahun terakhir
pada pekan ini, kenaikan imbal hasil Treasury AS telah memicu kekhawatiran bahwa kenaikan biaya pinjaman akan menahan pemulihan ekonomi lebih lanjut.
Indeks Dow Jones <. DJI> turun 19,07 poin atau 0,17% ke 11,457.47, S&P <. SPX> turun 6,36 poin atau 0,51% ke 1,235.23 dan Nasdaq <. IXIC> melemah 10,50
poin atau 0,40% ke 2,617.22. Sebelumnya, Dow Jones sempat mencetak level tertinggi dalam kurun 52‐minggu terakhir di 11,519.04.

• Euro turun tajam pada sesi Rabu setelah lembaga pemeringkat Moody's mengatakan kemungkinan downgrade peringkat hutang Spanyol dan investor
menunggu langkah lebih lanjut dari pembuat kebijakan Uni‐Eropa untuk menyelesaikan krisis fiskal zona euro. Laporan Moody's menjadi sebuah peringatan
bahwa masalah fiskal di Eropa masih belum terselesaikan. Berita tersebut menekan euro hingga mencatat performa harian terburuk sejak akhir November
silam. Dollar AS berhasil menguat, didukung oleh data yang menunjukkan kenaikan produksi industri pada bulan November. Inflasi harga konsumen yang tetap
terjaga juga mendukung kebijakan pelonggaran moneter kuantitatif The Fed. Euro tercatat turun 1,29% terhadap dolar pada 1,3227 <EUR=>.

• Euro melemah 0,3% terhadap Swiss franc ke 1,2802 franc <EURCHF=EBS>, setelah mencapai rekor rendah di 1,2758 menyusul laporan Moody's tentang
Spanyol. Franc cenderung menguat seiring kekhawatiran masalah utang di beberapa negara Eropa yang kemudian mendorong investor untuk mengurangi
eksposur ke aset berisiko dan mencari alternatif yang lebih aman. Pemimipin negara‐negara Uni‐Eropa dijadwalkan akan menggelar pertemuan dua harian
yang dimulai Kamis 16 Desember untuk membicarakan krisis utang Uni‐Eropa, meskipun terdapat pesimisme akan hasil dari pertemuan tersebut. Dollar AS juga
menguat 0,7% terhadap yen Jepang ke 84,25 <JPY=EBS>, sementara Sterling turun 1.5% terhadap dolar ke 1.5541 yang merupakan performa harian terburuk
sejak awal Mei silam.

• Harga emas dunia melemah untuk pertama kalinya dalam 3‐sesi terakhir menyusul rally tajam dolar seiring data inflasi yang stabil dan aksi year‐end booksquaring
meredakan minat investor membeli aset berstatus safe haven termasuk emas setelah lembaga pemeringkat Moody's mengatakan kemungkinan
downgrade peringkat hutang Spanyol. Harga spot emas <XAU=> turun 0,7% ke 1,385.60 USD per troy ounce.

• Harga minyak dunia menguat di atas 88 USD per barel setelah data menunjukkan penurunan mingguan terbesar dalam persediaan minyak mentah AS dalam
delapan tahun terakhir. Optimisme dari data aktivitas industri AS juga membantu mengangkat sentimen investor, yang sebelumnya dipengaruhi oleh
kekhawatiran utang zona euro setelah peringatan pada peringkat kredit Spanyol. Minyak mentah AS untuk pengiriman Januari <CLc1> naik 15 sen menjadi
88,43 USD per barel.

• Outlook (Kamis, 16/Des./2010): Bursa saham Asia diperkirakan akan dibuka beragam pada sesi Kamis 16 Desember, karena kekhawatiran zona euro utang
yang kembali, menekan minat investor pada aset berisiko. Sementara bursa Jepang diperkirakan akan dibuka menguat seiring nilai tukar yen yang melemah.

Wall St slips in another late sell-off, dollar gains

NEW YORK | Wed Dec 15, 2010 4:33pm EST

NEW YORK (Reuters) - U.S. stocks suffered a third straight late-day sell-off on Wednesday, suggesting it may be difficult to chalk further gains as the year comes to a close.After hitting two-year highs this week, a sustained rise in Treasury yields has sparked worry that rising borrowing costs could stifle the recovery. Banks, heavily dependent on loan demand, faded and ended lower for a third straight day. The sense among investors is that the market, after rising almost 11 percent so far in 2010, has run its course for the year.
"There are signs that the market is making a top at these levels, and people are starting to take profits," said King Lip, chief investment officer at Baker Avenue Asset Management in San Francisco. "Because the trading volume is low, I think this is temporary; the rally probably still has room to go."
Major averages and stocks that have led the rally have exhibited a familiar pattern in recent days, spiking early and succumbing to selling late as investors see stocks hitting resistance.
Apple Inc (AAPL.O) ended the day flat at $320.36, up just 0.02 percent after rising as high as $323 earlier in the day. Netflix Inc (NFLX.O) closed nearly flat, up just 0.03 percent at $178.50 -- off its high of $181.42.
Judy Moses, a San Francisco-based portfolio manager at Evercore Wealth Management, which has about $2.3 billion in assets under management, said that seasonal issues related to the end of the year could be affecting traders.
"Managers don't want to show high cash balances after such a strong year, but at this point, they also want to lock in gains," she said.
The Dow Jones industrial average .DJI slipped 19.07 points, or 0.17 percent, to 11,457.47. The Standard & Poor's 500 Index .SPX shed 6.36 points, or 0.51 percent, to 1,235.23. The Nasdaq Composite Index .IXIC dropped 10.50 points, or 0.40 percent, to close at 2,617.22.
Earlier, the Dow hit a fresh 52-week high intraday at 11,519.04.
Sentiment on the volatile day started lower after Moody's warned Spain its debt rating could be downgraded, bringing concerns about the euro-zone debt crisis back to the forefront and lifting the dollar, which has had a strong inverse relationship with equities of late.
However, those concerns were later offset by positive U.S. data on industrial production and regional manufacturing. The data boosted stocks going into the afternoon, but markets were unable to hold those gains.
Industrial production rose in November at its fastest pace in four months, implying that a self-sustaining recovery is now entrenched. An index of manufacturing activity in New York rebounded strongly, adding to the brighter picture.
"We're going into the end of the year and just hit a two-year high, so even though macro data has been better, things haven't perked up so much to lift us farther from here," said Adrian Cronje, chief investment officer at the Atlanta-based Balentine, which has about $800 million in assets under management.
Honeywell International Inc (HON.N) fell 1.9 percent to $51.54 after it gave a 2011 profit growth outlook that analysts described as conservative.
Caterpillar Inc (CAT.N) rose 1.1 percent to $93.08 after RBC raised its price target to $108 from $98.
A deal that President Barack Obama struck with Republicans to extend the Bush-era tax rates sailed through the U.S. Senate on Wednesday and will soon head to the House of Representatives, where it could face steeper opposition, though it is still expected to pass.
About 7.82 billion shares traded on the New York Stock Exchange, the American Stock Exchange and the Nasdaq, well below the year's daily average of 8.62 billion.
Almost two stocks fell for every one that rose on the New York Stock Exchange, while on the Nasdaq, about 16 stocks fell for every 11 that rose.

Euro falls 1 percent vs dollar to session low

NEW YORK | Wed Dec 15, 2010 2:45pm EST

NEW YORK (Reuters) - The euro extended declines against the dollar on Wednesday to trade more than 1 percent lower, weighed by persistent worries about the euro zone's financial woes.The euro slid as low as $1.3223 on trading platform EBS, breaking below support at around $1.3235, or a 61.8 percent Fibonacci retracement of the euro's rise from August to November.
It was last down 1.2 percent at $1.3226. The next downside target is in the $1.3164 to $1.3182 area, which represents the euro's lows from December 8-13.
The weakness in the euro came after Moody's said it may downgrade Spain's debt rating and as traders waited for a summit of European Union leaders later this week.
The dollar also hit a session peak against the yen at 84.48 on EBS, and was last up nearly 1 percent at 84.45 yen.