$11 Billion Shortfall

This is what AIG may face. The shortfall is in insurance reserves, which would property-casualty claims. “Todd Bault said that AIG may have cut back on its use of reinsurance and become too “aggressive” in pricing workers’ compensation and professional liability policies.” Price target is cut down from $20 to $12.
 
Read more here.

Economic Calendar 11/30/09

9:00 NAPM NY Report on Business
9:45 Chicago PMI
10:30 Dallas Fed Manufacturing Outlook
12:00 PM Chicago Fed’s Midwest Mfg. Index

Market Update 11/30/09 8:16 am

After major sell offs on Friday Asia bounced back but Europe, after posting modest gains, is in red now:
NIKKEI +2.9%
HANG SENG +3.3%
SHANGHAI +3.2%
BSE +1.8%
FTSE +0.2%
CAC -0.9%
DAX -1.1%

Your First Move on Wednesday

Tim Seymour – short on Ford (F)
Guy Adami – long Abbot Labs (ABT)
KAren Finerman – long Boston Scientific (BSX)
Pete Najarian – buy on Brocade (BRCD)
For more on your first move on today please visit CNBC’s Fast Money.

Economic Calendar 11/25/2009

7:00 MBA Mortgage Applications
8:30 Initial Jobless Claims
8:30 Durable Goods
8:30 Personal Income and Outlays
9:55 Reuters/UofM Consumer Sentiment
10:00 New Home Sales
10:30 EIA Petroleum Inventories
10:30 EIA Natural Gas Inventory
11:00 KC Fed Manufacturing
1:00 PM Results of $32B, 7-Year Note Auction

Market Update 11/25/2009 7:59 am

Asia and Europe posted modets gains; futures are trading higher:
NIKKEI +0.4%
HANG SENG +0.8%
SHANGHAI +2.1%
BSE +0.4%
FTSE +0.6%
CAC +0.6%
DAX +0.5%

Shop, Shop, Shop until you drop

Consumer confidence jumped in November 0.8% since October, from 48.7 to 49.5. Not a surprise since Holiday Season is right around the corner, as well as Black Friday.  The Expectation Index increased to 68.5 from 67.  “The Consumer Confidence Survey® is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted [...]

Your First Move For Tuesday

Joe Terranova – short Potash (POT)
Guy Adami – short UPS (UPS)
KAren Finerman – long Children’s Place (PLCE)
Pete Najarian – buy on Cliffs Natural Resources (CLF)

Economic Calendar 11/24/09

7:45 ICSC Retail Store Sales
8:30 Q3 GDP (2nd estimate); Corporate Profits
8:55 Redbook Chain Store Sales
9:00 S&P Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 FHFA Housing Price Index
10:00 Richmond Fed Mfg.
10:00 State Street Investor Confidence Index
1:00 PM Results of $39B, 3-Year Note Auction
2:00 PM FOMC minutes
2:00 PM Q3 Thrift Industry Charge-offs
5:00 PM ABC Consumer Confidence Index

Market Update 11/24/09 7:34 am

Asia lower, Europe flat, and so are futures:
NIKKEI -1.00%
HANG SENG -1.5%
SHANGHAI -3.5%
BSE -0.3%
FTSE +0.1%
CAC -0.3%
DAX -0.1%

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