US & GLOBAL
• Bursa saham global seperti Wall Street dan bursa Eropa naik sementara harga komoditas seperti minyak dan emas terkoreksi pada akhir minggu kemarin
menyusul meredanya concern geopolitik setelah pernyataan mundur dari presiden Mesir, Hosni Mubarak, dan menyerahkan kepemimpinannya ke wakil
presidennya. Indeks FTSEurofirst 300 naik 0.41%, indeks MSCI untuk bursa saham dunia naik 0.16%.
• Namun USD dan obligasi pemerintah masih naik karena masih ada kekhawatiran di kalangan investor mereka terhadap kondisi Mesir yang berpotensi
meyebar ke negara‐negara Arab sekitar. Sementara data ekonomi AS kembali dirilis positif yang memperkuat pandangan terhadap kelangsungan pemulihan
ekonomi AS. Di sisi lain mulai berkembangnya pesimisme terhadap penanganan krisis utang Eropa masih menekan euro.
• Indeks Dollar AS naik lebih dari 0.2% sementara EUR/USD terkoreksi hingga 0.35% ke level 1.3540 setelah penutupan NY akhir minggu lalu. Harga emas di
pasar spot <XAU=> turun $6.00 ke level $1357.00/troy ounce.
• Di minggu ke depan isu mesir hingga concern inflasi masih akan berpotensi menjadi market‐mover, namun selain itu yang tak kalah penting adalah laporan
earning perusahaan yang kali ini akan terfokus pada perusahaan‐perusahaan Eropa. Minggu ini dijadwalkan perusahaan jasa keuangan/perbankan, seperti
Barclays, AXA, BNP Paribas hingga Volvo akan merilis laporan keuangan kuartalan mereka.
• Minggu lalu laporan keuangan Credit Suisse dirilis di bawah harapan pasar, yang mengakumulasi kekhawatiran terhadap earning korporasi global setelah
perusahaan teknologi raksasa Cisco Systems Inc melaporkan keuntungan yang mengecewakan. Belum ada setengah dari perusahaan yang tergabung dalam
indeks saham Eropa (STOXX 600) yang merilis laporan keuangannya, namun lebih dari 50% dari total yang telah melaporkan tersebut belum memenuhi
ekspektasi pasar. Dibandingkan perusahaan‐perusahaan AS yang tergabung dalam indeks S&P500, hanya 25% dari total yang telah merilis laporannya yang
tidak memenuhi ekspektasi pasar.
• Bursa emerging market terutama Asia masih diselimuti oleh concern lonjakan inflasi dan pengaruhnya terhadap pengetatan kebijakan moneter. Hal ini
menekan indeks saham MSCI emerging market hingga lebih dari 5% di minggu lalu. Kekhawatiran inflasi tersebut berkembang setelah terjadi kenaikan
harga‐harga makanan.
• Concern inflasi juga mulai menyebar ke developing market, terkait dengan dampaknya terhadap pengetatan kebijakan moneter dan kenaikan suku bunga.
Lonjakan harga di tingkat grosir/produsen juga terjadi di Jerman dan Inggris. Bahkan hal tersebut sempat menyebabkan harga inflasi di tingkat konsumen
Jerman di revisi naik.
• Minggu ini data inflasi harga konsumen di Cina, AS dan Inggris akan diamati pasar. Selain itu pasar juga akan melihat laporan inflasi kuartalan Inggris (Rabu)
minggu ini khususnya terkait dengan meningkatnya proyeksi dimulainya kenaikan suku bunga BoE di bulan Mei tahun ini.
• Concern inflasi ini pulalah yang akan mengisi pertemuan menteri keuangan dan kepala bank sentral negara‐negara G20 di Paris akhir minggu nanti. Pasar
akan melihat apakah akan dilakukan ‘tindakan bersama’ terkait dengan potensi kenaikan inflasi di emerging market. Hal ini akan berpotensi menjadi majordriver
terhadap pergerakan pasar ke depannya.
NEW YORK | Fri Feb 11, 2011 4:27pm EST
NEW YORK (Reuters) - U.S. stocks closed out their second straight week of gains on Friday with a rally sparked after Egyptian President Hosni Mubarak resigned, easing tension around the region for now.
The S&P's five-month surge, which has taken it up almost 27 percent, has confounded those calling for a correction, but weak volume recently has been undercutting the unfailingly bullish direction in equities. Only 7.7 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below last year's daily average of 8.47 billion.
The volume "suggests that maybe we're getting waning interest and a narrowing of the market," said James Gaul, portfolio manager at Boston Advisors LLC in Boston, which manages $1.7 billion.
Financials led on the back of the reduced uncertainty, rising throughout the trading day. Bank of America Corp (BAC.N) gained 1.9 percent to $14.77 and the KBW Banks index .BKX added 1.8 percent.
Market Vectors Egypt Index ETF (EGPT.P) rallied on record volume the news, climbing 4.5 percent to $18.60.
Two weeks of anti-government protests in Egypt sparked concerns the unrest could spread across the Middle East, contributing to volatility in markets and commodity prices worldwide.
"If things deteriorated in Egypt that would have created a risk for U.S. markets, especially if the Suez Canal was closed," Gaul said. "We've removed a short-term uncertainty and are seeing a positive reaction as a result."
He added that some uncertainty persisted. Vice President Omar Suleiman said a military council would run Egyptian affairs, but some have questioned the army's appetite for real democracy.
The Dow Jones industrial average .DJI was up 43.97 points, or 0.36 percent, at 12,273.26. The Standard & Poor's 500 Index .SPX was up 7.28 points, or 0.55 percent, at 1,329.15. The Nasdaq Composite Index .IXIC was up 18.99 points, or 0.68 percent, at 2,809.44.
For the week, the Dow is up 1.5 percent and both the S&P and Nasdaq are up 1.4 percent.
Kraft Foods Inc (KFT.N) limited gains in the Dow on Friday a day after it cut its 2011 profit growth forecast, sending the stock down 1.4 percent to $30.66, the biggest percentage decliner on the blue-chip index.
Shares of mortgage insurers rose after the Obama administration presented options for overhauling the wrecked U.S. housing finance system. It pledged to continue backing existing obligations of government-controlled mortgage finance sources Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB).
PMI Group (PMI.N) shares rose 2.8 percent to $3.34 and Radian Group (RDN.N) gained 13.4 percent to $8.03.
A drought in Northern China has hit 7.7 million hectares of winter wheat growing areas, which, coupled with strong demand, is lifting some agricultural processor stocks, according to optionMonster co-founder Jon Najarian.
Agribusiness Bunge Ltd (BG.N) rose 3.4 percent to $71.36 and Archer-Daniels Midland Co (ADM.N) gained 2.2 percent to $36.22.
Commodities were a weak spot as crude oil prices declined in parallel with a falling-off of worries of possible oil supply problems in the Middle East. March crude futures dropped 1.5 percent.
Nokia (NOK1V.HE) (NOK.N), the world's largest cellphone maker, and Microsoft (MSFT.O) teamed up to build an iPhone challenger in an attempt to take on Google and Apple in the fast-growing smartphone market.
U.S.-listed shares of Nokia slumped 14 percent to $9.36. Dow component Microsoft was 0.9 percent lower at $27.25.
Almost three stocks rose for every one that fell on the New York Stock Exchange. More than two stocks rose for every decliner on the Nasdaq.
