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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (45214)	12/11/2008 12:13:31 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 72091

12:00PM Households pay down debts for first time by Rex Nutting WASHINGTON (MarketWatch) - Stung by the loss of $2.81 trillion in their net wealth, U.S. households paid down their debts in the third quarter for the first time since at least 1952, the Federal Reserve reported Thursday. As of Sept. 30, households' total outstanding debt shrank at an annual rate of 0.8% from $13.94 trillion to $13.91 trillion, the Fed said in its quarterly flow of funds report. It's the first decline in household debt ever recorded in the report. Households paid off more mortgage debt than they took on for the first time on record. Mortgage debt fell at a 2.4% annual rate to $10.54 trillion. Other consumer debts, such as credit cards and auto loans, increased at a 1.2% annual rate in the quarter to $2.6 trillion. Total U.S. domestic nonfinancial debt increased at a 7.2% annual rate, boosted by a postwar record 39.2% increase in debt taken on by the federal government. 11:43AM Capital One sees likely substantial 4Q loan loss provision (COF) by Greg Morcroft NEW YORK (MarketWatch) -- Capital One Financial (COF) said Thursday that it will likely make a substantial provision for future loan losses in the future, Chief Executive Richard Fairbank said at a Goldman Sachs-sponsored financial services conference. Fairbank also said that the bank's assumptions at the end of the third quarter were that unemployment would be at about 7% by mid-2009, and that the average U.S. home price would decline another 10% during that same period. Fairbank was less clear about likely losses at the firm's large credit card operation, but he did say that credit card losses would at a minimum, on a percentage basis, rise point-for-point with the unemployment rate. He added that the credit card losses could be amplified if housing prices continue to fall. 11:42AM Boeing restructuring commercial airplane division (BA) by Wallace Witkowski SAN FRANCISCO (MarketWatch) -- Boeing Co. (BA) said Thursday that it is reorganizing its commercial airplane operations on the heels of the aerospace giant announcing further delays on its 787 Dreamliner jet. The company said that Pat Shanahan, formerly vice president and general manager of the 787 program, will head a new airplane programs division, and that Carolyn Corvi, who previously led the division, will retire at the end of the year. Boeing said that Ray Conner will head the company's newly formed Supply Chain Management and Operations division. 11:40AM BMO reiterates market perform rating on P&G (PG) by Steve Gelsi NEW YORK (MarketWatch) -- BMO Capital Markets reiterated its market perform rating on Procter & Gamble (PG) after the consumer products giant trimmed its second-quarter sales outlook. Since P&G kept its earnings target unchanged, BMO Capital noted it expects the company to realize savings either in the cost of goods, or in selling, general and administrative expenses.