Sunday, April 3, 2011

Morning Conference of 3/31/2011

Topic: Overview of this week market.

Most of our members who participated in the morning call have expressed their opinions and provided what they though about the market for the week.

Chang: There was news coming out saying JPM Morgan’s CEO was expecting 100s of municipal securities my not be able to make it or may fail due to local developments and difficulties in paying their debts. Chang was so concern about this subject due to the fact that he is covering UMB bank in the quarterly report that the team is about to publish at the end of this month. And UMB bank is heavily exposed to the local developments and municipal debts.

Saliq: Saliq’s topic was a little bit broad and international covering the unrest in Libya and how this specific issue has affected the market. The market had gone up for the past few days but the fundamentals weren’t supporting it as a result the market dropped due to what was happening in Libya. Several reports published by the government and the private sector. Investors expect both reports to be of the same results when actually they are not. Saliq thought that the unemployment rate will stay the same at 8.9%.

Hamza: commentated on what Saliq said and both agreed.

Lorena: Many stocks jumped this Wednesday and drove the Dow to its highest point in 2011 with ATT&T leading the way with over 2% increase in its stock price due to speculative view of the deal with T-mobile. The deal that many think will be approved by regulator. In addition, the S&P was up over 5% this year and 0.7% on Wednesday. Saliq disagreed to what Lorena had just said. He said that the latest reports showed that the market was affected by what happened in Japan and the Middle East. However, Lorena thought that many stocks would gradually step in the process of  recovering from days of negative news about Japan and the unrest in the Middle East and they were in their way up. Chang intervened and said that the Dow reached its highest on February 18.
Soujanya: Soujanya covered the latest news from the Fed regarding banks who borrowed money during the financial crises and then she moved to the latest news from Obama in a speech he had in George Washington University. Obama outlined a plan to cut oil import by one third and allow oil drilling within several parts of the country. Then she talked about Ebay buying GSI for $2.4 billion to improve its commerce experience.

At the end Saliq jumped in with the latest information from reliable sources about the market highs and lows.

This was a summary of the morning conference call the team had on 3/31/2011.

Hussain Jubail

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