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It most heavily weightsUS Bancorp ( USB ) at 21% of assets,PNC Financial Services ( PNC ) 12% andBB&T (BBT) 7%. The Federal Reserve has pledged to hold down short-term interest rates near zero until inflation hits 2% and the unemployment falls below 6.5%, which could take years. "(BofA Merrill) data show that mortgage credit for housing purchases or refinancing has improved in the past 18 months, but from a very low base."

The product has outperformed the most popular Vanguard FTSE Europe ETF ( VGK ), iShares MSCI EMU Index Fund ( EZU ) by wide margins. Click to get this free report >> ISHARS-GERMANY (EWG): ETF Research Reports ISHARS-EMU IDX (EZU): ETF Research Reports VANGD-FTSE EUR (VGK): ETF Research Reports To read this article on Zacks.com click here. Germany has a stable labor market, high level of employment with wage increases, moderate inflation and a low government deficit, suggesting that the country is still on a relatively solid footing compared to the other Euro zone members.

In fact, the SPDR Gold Trust ETF (NYSEARCA:GLD) and iShares Gold Trust ETF (NYSEARCA:IAU) have never had a down year for as long as they have been around. Gold has been one of the most talked about hard assets of the last two years, as the metal soared to all-time highs, only to watch its price take a tumble in the months that followed. This has all happened despite the current $85 billion monthly printing from Ben Bernanke and the Fed, which many thought would spark inflation thereby sending gold higher.

One of the big food stories of the last decade has been the mainstreaming of organic and natural foods, which for a time turned distributorUnited Natural Foods ( UNFI ) into a leading stock. Other stocks in the group, from commercial food products distributorSysco ( SYY ) to cigarette and snack wholesalerCore Mark ( CORE ), have faced a more difficult pricing environment. The company has a much more diverse product mix than a specialist like Green Mountain, but it has been stymied by, among other things, the Federal Reserve's strategic effort to tamp down the inflation rate.

Fastenal (NASDAQ: FAST ) reported second quarter EPS of $0.41, in line, on revenue of $847.6 million vs. $857.13 million expected. However, he did close with slightly hawkish statements by saying that inflation is low due to transitory factors and should moderate back towards the medium-term target. Spanish 10-year government bond yields fell 8 basis points to 4.73 percent as Prime Minister Rajoy is set to roll out new taxes, according to Bloomberg.

Brazilian retailer Companhia Brasileira de Distribuicao ( CBD ) reported second quarter 2013 earnings of R$0.16 (8 cents per share) compared with R$1.00 per share (51 cents per share) in the year-ago quarter. Our Recommendation We are impressed with CBD's strong market position and economies of scale that have helped the company deliver strong results despite continued weakness in consumer expenditure. However, inflation in Brazil is denting CBD's food business and the company is struggling hard to keep prices down.

The Greenbrier Company (NYSE: GBX ) is expected to report third quarter EPS of $0.55 vs. $0.61 on revenue of $503.08 million vs. $507.8 million a year ago. The RBA said "the inflation outlook, as currently assessed, may provide some scope for further easing, should that be required to support demand," that the Aussie dollar is still overvalued, and that they see growth picking up in the next year globally. A Shulman Inc. (NASDAQ: SHLM ) shares fell 13.4 percent pre-market after the company reported worse than expected earnings and lowered guidance.

PriceSmart (NASDAQ: PSMT ) reported third quarter EPS of $0.61 vs. $0.64 on revenue of $571.1 million vs. $568.33 million. PriceSmart (NASDAQ: PSMT ) shares fell 2.88 percent pre-market as the company reported weaker than expected third quarter EPS. However, he did close with slightly hawkish statements by saying that inflation is low due to transitory factors and should moderate back towards the medium-term target.

Valero ( VLO ) and Marathon Oil ( MRO ) are just two firms that have resorted to moving product abroad in order to avoid the impossible situation. While it is true that gasoline prices are typically higher during the warmer months as demand also rises, the current spike is also due to some behind the scenes issues that many consumers may not be aware of. The law also states that the amount of ethanol used will steadily increase as time goes on, forcing refiners to rely more and more on this alternative fuel source.

SPDR-SP 500 TR (SPY): ETF Research Reports ISHARS-20+YTB (TLT): ETF Research Reports To read this article on Zacks.com click here. 3) The Fed said: The Committee recognizes that inflation persistently below its 2 percent objective could pose risks to economic performance…". The Fed does see inflation moving toward its goal over the medium term like June, but added the risk to the July statement.

The RBA said "the inflation outlook, as currently assessed, may provide some scope for further easing, should that be required to support demand," that the Aussie dollar is still overvalued, and that they see growth picking up in the next year globally. A Shulman Inc. (NASDAQ: SHLM ) shares fell 13.4 percent pre-market after the company reported worse than expected earnings and lowered guidance. Xyratex (NASDAQ: XRTX ) shares rose 5.5 percent but were off of after-hours highs after the company reported better than expected earnings.

Just look at one of the biggest bond ETFs - the iShares 20 Year Treasury Bond ( TLT ) . Owning bonds - including "super safe" U.S. Treasuries - will lead to a world of pain. Essentially you're earning no money by investing in Treasuries today, and if inflation rises slightly you'll be in the hole.

TIPS first hit the market in the late 1990s and are government-issued fixed-income securities that are backed by the full faith and credit of the US government for timely payment of interest and principal. In the case of US TIPS, the bond or note's face value is adjusted monthly according to the rate of inflation as measured by the US consumer price index ( CPI ). Instead of bailing on Treasury Inflation Protected Securities, or TIPS, the manager, Bill Gross, has been backing up the truck on expectations of higher inflation.

Based on forthcoming events and latest developments, gold and silver prices might change direction and fall. I suspect the upcoming testimonies could stir up the markets as the uncertainty is high regarding the Fed's next move. Until then, the developments in the U.S economy could influence traders: The upcoming U.S reports include: CPI, retail sales, Philly Fed index, jobless claims, and housing starts.

As you can see, momentum "worked" in the second quarter, with my picks to outperform doubling the market with a 4.8% return while my forecast underperformers lost big time, decreasing by 8.4% on average. U.S. Heat Map for the Year Ending June 30, 2013 (click to enlarge) Source: PPCA Inc So I'll go out on a limb again and forecast the following winners and losers for the next quarter. This is one explanation for the precipitous decline in gold prices (as well as TIPS), indicating deflation fears, coupled with increases in bond yields.

Pre-Market Movers Stocks moving in the pre-market included: Costco (NYSE: COST ) shares gained 0.39 percent pre-market as the company reported that same-store sales rose 6.0 percent in June vs. an expected gain of 5.4 percent.Net sales rose 8 percent to $9.92 billion in June. However, he did close with slightly hawkish statements by saying that inflation is low due to transitory factors and should moderate back towards the medium-term target. Spanish 10-year government bond yields fell 8 basis points to 4.73 percent as Prime Minister Rajoy is set to roll out new taxes, according to Bloomberg.

Herbalife ( HLF ) is expected to report EPS of $1.19. With the consumption, manufacturing, fixed investment, and inflation data we've received thus far, we can reasonably expect to see 0.4% to 0.6% annualized growth, with an outside chance that we'll see a quarterly contraction depending on where public spending clocks in. However, retail sales ex auto and gas dropped by 0.1% in June, creating a head wind for consumption growth, which is also being challenged by higher taxes, particularly in households with less than $75,000 annual income.

As you can see, momentum "worked" in the second quarter, with my picks to outperform doubling the market with a 4.8% return while my forecast underperformers lost big time, decreasing by 8.4% on average. U.S. Heat Map for the Year Ending June 30, 2013 (click to enlarge) Source: PPCA Inc So I'll go out on a limb again and forecast the following winners and losers for the next quarter. This is one explanation for the precipitous decline in gold prices (as well as TIPS), indicating deflation fears, coupled with increases in bond yields.

Internet giant Yahoo and railroad CSX follow in the afternoon after the closing bell. The report might not have a big impact on sentiment because inflation hasn't been a concern recently. The most important economic report may actually come from Europe early in the session, when Germany's Zew institute publishes its gauge of financial-market sentiment.

Earnings Notable companies expected to report earnings Thursday include: Commerce Bancshares (NASDAQ: CBSH ) is expected to report second quarter EPS of $0.71 vs. $0.76 a year ago on revenue of $262.43 million vs. $265.92 million a year ago. However, he did close with slightly hawkish statements by saying that inflation is low due to transitory factors and should moderate back towards the medium-term target. Spanish 10-year government bond yields fell 8 basis points to 4.73 percent as Prime Minister Rajoy is set to roll out new taxes, according to Bloomberg.

ByStephen Percoco: The beginning of the return to normalized interest rates took a big toll on straight Treasury securities in the 2013 second quarter, but TIPS got hit even harder. For the quarter, the average TIPS security lost 6.6%, worse than the average loss of 3.0% on comparable maturity Treasuries and by far the worst losses seen in the TIPS market since the 2008 financial crisis. TIPS are complicated primarily because their returns are based upon two components: current income and inflation.

Valero ( VLO ) and Marathon Oil ( MRO ) are just two firms that have resorted to moving product abroad in order to avoid the impossible situation. While it is true that gasoline prices are typically higher during the warmer months as demand also rises, the current spike is also due to some behind the scenes issues that many consumers may not be aware of. The law also states that the amount of ethanol used will steadily increase as time goes on, forcing refiners to rely more and more on this alternative fuel source.

And just like conventional Treasury bonds (NYSEARCA:TLT), TIPS are impacted by movements in the interest rate marketplace. TIPS first hit the market in the late 1990s and are government-issued fixed-income securities that are backed by the full faith and credit of the US government for timely payment of interest and principal. In the case of US TIPS, the bond or note's face value is adjusted monthly according to the rate of inflation as measured by the US consumer price index ( CPI ).

As you can see, momentum "worked" in the second quarter, with my picks to outperform doubling the market with a 4.8% return while my forecast underperformers lost big time, decreasing by 8.4% on average. U.S. Heat Map for the Year Ending June 30, 2013 (click to enlarge) Source: PPCA Inc So I'll go out on a limb again and forecast the following winners and losers for the next quarter. This is one explanation for the precipitous decline in gold prices (as well as TIPS), indicating deflation fears, coupled with increases in bond yields.

McCormick & Company ( MKC ) at $72, discounting a 9% growth rate the same as the sell side average, while only being 9% undervalued if the present 30-year long bond is used. The result was that the net present valuations of the stocks I was looking at were raised by 7-12%, depending on the levels of their expected earnings growth. Within the past week, I have seen that June CPI data show that car parts are down 1.5% for six straight months of decline versus their 3-4% average increases in the last few years.

However, he did close with slightly hawkish statements by saying that inflation is low due to transitory factors and should moderate back towards the medium-term target. Spanish 10-year government bond yields fell 8 basis points to 4.73 percent as Prime Minister Rajoy is set to roll out new taxes, according to Bloomberg. On the economics calendar Thursday, initial jobless claims and import and export prices are due out followed by the Bloomberg Consumer Comfort Index.

Vivendi ( VIV ) agreed today to sell back 85% of its share in Activision Blizzard ( ATVI ). Yesterday, Amazon ( AMZN ) missed expectations as it continues to expand and invest in data centers and video. Japan's Nikkei (INDEXNIKKEI:.NI225) fell 3% today as the yen rose against the dollar after a mixed report on inflation.

However, financial markets have embraced that idea that Morsi has been removed from power because the Market Vectors Egypt ETF (NYSE: EGPT ) has been surging this week. EGPT, which had previously reached lows that worse than those seen during the Arab Spring, was reverse split on a 1-for-4 basis on Monday , so the ETF got the benefit of some artificial price inflation. News of Morsi's potential then realized ouster has been a boon for EGPT, sending the ETF higher on impressive volume .

The Utilities SPDR (XLU) gained 0.83%. Benchmarks eked out gains during Friday's trading session even as new home sales data plunged, adding skepticism over tapering of the bond purchase program. President of the St. Louis Fed, James Bullard said to CNBC: "Inflation is running low, you've got mixed data on the economy, so I'd be cautious and I wouldn't want to pre-judge the meeting".

It's been gold (NYSEARCA:IAU). -- Paulo Coelho In the fixed income space, the most hated area of the bond market has been long-duration Treasuries (NYSEARCA:TLT). I suspect much of this has been a repricing of the inflation story, which was so hyped over the past decade, with the metal serving as a "hedge" against inflationary concerns that never materialized.

Dollar Tree ( DLTR ), Sears Holdings ( SHLD ), A bercrombie & Fitch ( ANF ), Gamestop ( GME ), Gap (GPS), Aeropostale (ARO), and Pandora (P) are scheduled to report. The Brazilian real, Turkish lira, Indian rupee, and Mexican peso all reached new multiyear lows against the US dollar. The takeaway: The reduction of asset purchases, a plan that Chairman Bernanke had put forth at the June meeting, was generally agreed upon, although a few people urged patience due to slowing inflation and growth.

Sheraz Mian Director of Research AUTOMATIC DATA (ADP): Free Stock Analysis Report SPDR-DJ IND AVG (DIA): ETF Research Reports NASDAQ-100 SHRS (QQQ): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports PRO-ULS L20+YRT (TBT): ETF Research Reports To read this article on Zacks.com click here. The Fed appeared to be downgrading their economic growth outlook a bit and pointed towards low inflation readings and the rise in mortgage rates. But labor market data has broadly been positive, as this morning's weekly Jobless Claims numbers and Wednesday's ADP report showed.

The producer price index remained flat in July, a Fed official fretted over low inflation levels, and put buyers continued to pummel Nokia ( NOK ). Nokia ( NOK ) continued to attract bearish traders, who predicted near-term losses for the stock. In his latest Chart of the Day column, Senior Options Strategist Tony Venosa, CMT, lists nine reasons why Apple ( AAPL ) has bearish trading potential over the short term.

Among them, Cumberland Pharmaceutical ( CPIX ), which focuses on commercializing branded prescription products, is down about 14% at $4.78 after it reported worse-than-expected results for Q2 late Tuesday. The company swung to a net loss of $0.6 million, or $0.03 per share, compared with a profit of $0.9 a year ago. And, WellCare Health Plans ( WCG ) is up near 10% at $66.40, having marked a 52-week high at $68.17, after it reported Q2 earnings of $1.35 per share, versus the Capital IQ consensus of $1.22.

Newmont Mining (NYSE: NEM ) shares rose 1.44 percent pre-market as metals prices rebounded. On the economics calendar Thursday, Fed President Bullard is expected to speak followed by the CPI report and initial jobless claims. Futures Lower After Cisco Earnings, Weaker Dollar U.S. equity futures traded slightly lower in early pre-market trade following some weak guidance from Cisco (NASDAQ: CSCO ) for the upcoming quarter and as the dollar traded lower.

Dollar Tree ( DLTR ), Sears Holdings ( SHLD ), A bercrombie & Fitch ( ANF ), Gamestop ( GME ), Gap (GPS), Aeropostale (ARO), and Pandora (P) are scheduled to report. The Brazilian real, Turkish lira, Indian rupee, and Mexican peso all reached new multiyear lows against the US dollar. The takeaway: The reduction of asset purchases, a plan that Chairman Bernanke had put forth at the June meeting, was generally agreed upon, although a few people urged patience due to slowing inflation and growth.

The most obvious, and in many ways safest option is to buy an established ETF that tracks the Chinese stock market, such as the iShares China Large Cap ETF (FXI). A combination of FXI and Yum may suit the more conservative investor who is still looking to hold something with potential to benefit if the growth story does resume. An article in today’s China Daily quotes a leading economist as maintaining that the economy there will reach the 7.5% target growth rate, while keeping inflation under 3% and avoiding a sudden collapse or “hard landing”.

US companies scheduled to report earnings include Buckle ( BKE ), Enstar Group ( ESGR ), and Main Street Capital ( MAIN ). Finance Minister Aso did note that there was support for the proposed sales tax increase, which is scheduled to take place in three different phases over the next year. July consumer price index rose 2% from a year ago, inline with estimates and up from a 1.8% rate the month prior.

ArgentinaETF in Focus Despite high inflation, investors are showing interest in the First Trust FTSE Argentina 20 ETF (ARGT) , the only way to target the nation, given its ongoing recovery and the related optimism. ARGT is up over 11% in the year-to-date period (read: 3 Top Ranked International ETFs Still Worth Buying ). Further, ARGT currently trades 40% below the 2011 peak while EEM and EFA are below their peaks at 21% and 4%, respectively.

The 20-stock ETF's performance has been mainly driven by two of its five largest holdings --Telecom Argentina ( TEO ) andBanco Macro ( BMA ) -- which popped 15% and 16% this week. Companies in ARGT are projected to grow earnings per share 33.5% this year after shrinking 25% in 2012, according to Alta Vista Research, which rates the ETF neutral. Investment Risks Running at 10.5%, the South American country's official inflation rate boggles the mind when compared with developed markets.

"The CoRI Indexes will deliver truly groundbreaking support for investors grappling with today's most critical financial planning question: 'Do I have enough money to retire? Investors need to be aware that volatility plays a part in retirement planning, and the cost could go up or down, depending on a wide variety of factors. Then, it uses inflation expectations, interest rate changes, an adjustment for mortality, as well as something known as longevity pool risk premium, to come up with the final CoRI index level.

US companies scheduled to report earnings include Buckle ( BKE ), Enstar Group ( ESGR ), and Main Street Capital ( MAIN ). Finance Minister Aso did note that there was support for the proposed sales tax increase, which is scheduled to take place in three different phases over the next year. July consumer price index rose 2% from a year ago, inline with estimates and up from a 1.8% rate the month prior.

-- Paulo Coelho In the fixed income space, the most hated area of the bond market has been long-duration Treasuries (NYSEARCA:TLT). I suspect much of this has been a repricing of the inflation story, which was so hyped over the past decade, with the metal serving as a "hedge" against inflationary concerns that never materialized. The ratio against equities seems to be turning up, in sympathy with the fat pitch and long duration bonds as investors try to play massively oversold trades.

J.C. Penney (NYSE: JCP ) shares rose 1.83 percent after rallying into the close Wednesday on reports that sales improved in July. Newmont Mining (NYSE: NEM ) shares rose 1.44 percent pre-market as metals prices rebounded. On the economics calendar Thursday, Fed President Bullard is expected to speak followed by the CPI report and initial jobless claims.

On the stock market ,SPDR Gold Shares ( GLD ), tracking a 10th of an ounce of bullion, climbed 2% to 126.86. As usual the gold bulls and bears butted heads over whether Thursday's action marks the beginning of a new uptrend or just a dead-cat bounce in a long-term downtrend. He has put 5% to 8% of his clients' assets in metals and natural resources as a hedge against inflation that he believes will arise from central banks around the world printing money to stimulate their economies.

Benchmarks eked out gains during Friday's trading session even as new home sales data plunged, adding skepticism over tapering of the bond purchase program. President of the St. Louis Fed, James Bullard said to CNBC: "Inflation is running low, you've got mixed data on the economy, so I'd be cautious and I wouldn't want to pre-judge the meeting". Additionally, Atlanta Fed president, Dennis Lockhart also indicated that any tapering of the bond purchase program would take place slowly, over a longer period of time.

PowerShares DB U.S. Dollar Index Bullish ( UUP ), measuring the greenback against a basket of major foreign currencies, shed 0.3% to 21.91. As usual the gold bulls and bears butted heads over whether Thursday's action marks the beginning of a new uptrend or just a dead-cat bounce in a long-term downtrend. He has put 5% to 8% of his clients' assets in metals and natural resources as a hedge against inflation that he believes will arise from central banks around the world printing money to stimulate their economies.

Sheraz Mian Director of Research AUTOMATIC DATA (ADP): Free Stock Analysis Report SPDR-DJ IND AVG (DIA): ETF Research Reports NASDAQ-100 SHRS (QQQ): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports PRO-ULS L20+YRT (TBT): ETF Research Reports To read this article on Zacks.com click here. The Fed appeared to be downgrading their economic growth outlook a bit and pointed towards low inflation readings and the rise in mortgage rates. But labor market data has broadly been positive, as this morning's weekly Jobless Claims numbers and Wednesday's ADP report showed.

In ADR news, China Petroleum & Chemical Corp ( SNP ) will buy Apache's ( APA ) 33% stake in its Egypt oil and gas business for $3.1 billion. Asian stocks were mixed as investors weighed the fact that imminent action against Syria looked less likely, US GDP grew more than expected in Q2 and Japan's economic data still look mixed. Around the region, Japan's core CPI rose 0.7% from a year earlier, accelerating from June's 0.4% rise.

The 20-stock ETF's performance has been mainly driven by two of its five largest holdings --Telecom Argentina ( TEO ) andBanco Macro ( BMA ) -- which popped 15% and 16% this week. Companies in ARGT are projected to grow earnings per share 33.5% this year after shrinking 25% in 2012, according to Alta Vista Research, which rates the ETF neutral. Investment Risks Running at 10.5%, the South American country's official inflation rate boggles the mind when compared with developed markets.

Dollar Tree ( DLTR ), Sears Holdings ( SHLD ), A bercrombie & Fitch ( ANF ), Gamestop ( GME ), Gap (GPS), Aeropostale (ARO), and Pandora (P) are scheduled to report. The Brazilian real, Turkish lira, Indian rupee, and Mexican peso all reached new multiyear lows against the US dollar. The takeaway: The reduction of asset purchases, a plan that Chairman Bernanke had put forth at the June meeting, was generally agreed upon, although a few people urged patience due to slowing inflation and growth.

In the last FOMC meeting, it was specifically said that the tapering of bond purchase program depends heavily on the employment figures and controlling the inflation rate at 2%. On Tuesday, comments from two Fed officials jolted the markets as they hinted at tapering the bond buying program as early as next month. An improvement in the consumer sentiment, expansion of private sector and decrease in unemployment indicates that the German economy is finally climbing up the growth ladder primarily.

Kohl's Corporation ( KSS ), a much smaller rival retailer, said that second-quarter earnings fell 3.5% to $1.04 per share from $1.00 a year earlier as costs rose. Stocks are heading lower this morning as economic reports show that inflation is still tame and Wal-Mart ( WMT ) booked a rare dip in US sales. The capacity utilization rate is likely to have ticked up just one-tenth of a percentage point to 77.9% The Philadelphia Federal Reserve will also publish its survey of general business conditions in the in its region.

Market Vectors Gold Miners ETF ( GDX ) blasted 9% to 26.02, snapping an eight-day losing streak.Market Vectors Junior Gold Miners ETF ( GDXJ ) also vaulted 9% to 40.75. As usual the gold bulls and bears butted heads over whether Thursday's action marks the beginning of a new uptrend or just a dead-cat bounce in a long-term downtrend. He has put 5% to 8% of his clients' assets in metals and natural resources as a hedge against inflation that he believes will arise from central banks around the world printing money to stimulate their economies.

But labor market data has broadly been positive, as this morning's weekly Jobless Claims numbers and Wednesday's ADP report showed. Sheraz Mian Director of Research AUTOMATIC DATA (ADP): Free Stock Analysis Report SPDR-DJ IND AVG (DIA): ETF Research Reports NASDAQ-100 SHRS (QQQ): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports PRO-ULS L20+YRT (TBT): ETF Research Reports To read this article on Zacks.com click here. The Fed appeared to be downgrading their economic growth outlook a bit and pointed towards low inflation readings and the rise in mortgage rates.

Those declines represent a sharp reversal of fortune from the early part of this year when the ETFs soared and Indonesia was considered a possible replacement for India in the famous BRIC acronym . Adding to the persistent bout of bad news for EIDO and IDX is Indonesia's widening current account deficit, which rose to a record $9.8 billion last quarter, Bloomberg . A widening account deficit, plunging currency, sliding stocks, inflation problems and a tenuous credit situation makes Indonesia sound a lot like India .

The Consumer Discretionary SPDR (XLY) lost 0.9%. In the last FOMC meeting, it was specifically said that the tapering of bond purchase program depends heavily on the employment figures and controlling the inflation rate at 2%. On Tuesday, comments from two Fed officials jolted the markets as they hinted at tapering the bond buying program as early as next month.

I recently discussed the appeal of the iShares MSCI Emerging Markets ETF ( EEM ) and still think that its blue-chip portfolio is gong unappreciated by global investors. Large Trade Deficits Sources: CIA World Factbook, United Nations Note that many emerging-market economies have been home to some of the most dynamic growth rates in the past decade. In the nearterm , a weaker currency for any nation that runs trade deficits means that import prices are rising, and an upward move ininflation can lead central banks to raise interest rates to reverse the trend.

I just don't see any point buying the precious metal at this time: there's minimal inflation and the world is not going to blow up anytime soon, plus you have so much money funneled into stocks. If I'm wrong, then so are investment gurus John Paulson and George Soros, who are running for the exits and divesting a major portion of their gold holdings. The organization attributed the decline to investors selling bullion funds and lower buying by the world central bankers.

Excluding the effect of gasoline prices and foreign currency fluctuations, Costco's comparable-store sales for the fourth quarter witnessed growth of 5%. Despite a challenging environment, Costco Wholesale Corporation ( COST ) came up with healthy sales report for August. Costco delivered comparable-store sales (comps) growth of 4% that surpassed analysts' expectations.

With most of the regulatory approvals received and compliances dealt with, NYSE's merger with IntercontinentalExchange Inc. ( ICE ) is nearing completion and is likely to boost efficiencies, making it one of the strongest exchanges in the world. However, technology service and listing revenues remained weak. However, sluggish growth trend in trading volumes in both the U.S. and Europeis expected to continue in the upcoming quarters as well, given the volatility in interest rates, inflation and changes in price levels of contracts, as well as intense product and price competition.

While Cheesecake is susceptible to higher input costs like all other restaurant companies, management commented that commodity inflation has moderated on an annualized basis. We remain Neutral on restaurant company The Cheesecake Factory Inc. ( CAKE) . On Jul 24, 2013, Cheesecake Factory reported second-quarter 2013 earnings of $0.54 per share, up 5.9% year over year.

As pointed out by Warren Buffett , the percentage of total market cap (TMC) relative to the U.S. GNP is "probably the best single measure of where valuations stand at any given moment." Given a 2.6% 10-year Treasury bond yield, investors may be comfortable accepting weak prospective long-term returns for the S&P 500 - we estimate about 2.8% annually over the coming decade. In all of the three approaches discussed above, the fluctuations of profit margin are eliminated by using GDP, the average of trailing 10-year inflation-adjusted earnings and peak-P/E, revenue or book value, etc.

iShares MSCI Frontier 100 ETF (FM) This fund tracks the MSCI Frontier Markets Index, having accumulated $279.6 million in AUM and trading in average daily volume of more than 117,000 shares. Click to get this free report >> ISHARS-EMG MKT (EEM): ETF Research Reports ISHRS-MSCI F100 (FM): ETF Research Reports FT-ISE CHINDIA (FNI): ETF Research Reports EGS TECH GEMS (QGEM): ETF Research Reports VANGD-FTSE EM (VWO): ETF Research Reports To read this article on Zacks.com click here. Additionally, widening current account deficits, sluggish currencies, rising inflation and political disorder are dulling the appeal for emerging markets.

Bottom Line Investors should note that these products have clearly outpaced the ultra-popular broad emerging market funds like VWO and EEM by wide margins (see: all the Emerging Market ETFs here ). Click to get this free report >> ISHARS-EMG MKT (EEM): ETF Research Reports ISHRS-MSCI F100 (FM): ETF Research Reports FT-ISE CHINDIA (FNI): ETF Research Reports EGS TECH GEMS (QGEM): ETF Research Reports VANGD-FTSE EM (VWO): ETF Research Reports To read this article on Zacks.com click here. Additionally, widening current account deficits, sluggish currencies, rising inflation and political disorder are dulling the appeal for emerging markets.

Shareholders who purchased VTIP stock prior to the ex-dividend date are eligible for the cash dividend payment. For more information on the declaration, record and payment dates, visit the VTIP Dividend History page. Vanguard Malvern Funds Vanguard Short-Term Inflation-Protected ( VTIP ) will begin trading ex-dividend on September 23, 2013.

Germany's final estimate of August's consumer price index is forecast to remain unchanged from last week's preliminary estimate of 1.5% The sole earnings report on the calendar tomorrow comes from Vera Bradley ( VRA ). On the geopolitical front, this morning Russia announced that Syria would give up control of its chemical weapons and disclose their location to UN investigators. The 5C would be the de facto replacement for the current 5 model, coming in five different colors with additional battery life and a higher resolution camera.

In fact, I feel pretty strongly that this stock - which I consider a good buy - actually can never grow its profits faster than nominal GDP. In periods where there was a bit more inflation - in other words, almost any other time in the last century - and nominal GDP growth, sales grew faster than this analyst's estimate. Conversely, an overleveraged business can - without ever risking insolvency - use almost all of the free cash flow you anticipate to pay down the debt in front of your common stock.

Take a look below at the price ratio of the i SharesTreasury Bond 20+ Year ETF (NYSEARCA:TLT) relative to the iShares Treasury 7-10 Year ETF (NYSEARCA:IEF). As a reminder, a rising price ratio means the numerator/TLT is outperforming (up more/down less) the denominator/IEF. First, inflation expectations have undeniably fallen all year, while the honey badger SPDR S&P 500 ETF Trust (NYSEARCA:SPY) has rallied in an abnormal way, given that equity is not supposed to be a deflation hedge.

Gold Fields Limited ( GFI ) announced that National Union of Mineworkers (NUM) ended the strike at its South Deep mine after they received a two-year salary deal from the Chamber of Mines. ANGLOGOLD LTD (AU): Free Stock Analysis Report GOLD FIELDS-ADR (GFI): Free Stock Analysis Report HARMONY GOLD (HMY): Free Stock Analysis Report SIBANYE GLD-ADR (SBGL): Get Free Report To read this article on Zacks.com click here. In the second year of the deal, employees will receive further Consumer Price Index (CPI)-linked increases effective Jul 1, 2014.

Bottom Line Investors should note that these products have clearly outpaced the ultra-popular broad emerging market funds like VWO and EEM by wide margins (see: all the Emerging Market ETFs here ). Click to get this free report >> ISHARS-EMG MKT (EEM): ETF Research Reports ISHRS-MSCI F100 (FM): ETF Research Reports FT-ISE CHINDIA (FNI): ETF Research Reports EGS TECH GEMS (QGEM): ETF Research Reports VANGD-FTSE EM (VWO): ETF Research Reports To read this article on Zacks.com click here. Additionally, widening current account deficits, sluggish currencies, rising inflation and political disorder are dulling the appeal for emerging markets.

In equities, Caterpillar ( CAT ) fell 4.28% after Q3 sales and earnings declined and missed estimates. After rallying on a slew corporate earnings and on hopes that the U.S. Federal Reserve will maintain its asset purchasing program in the wake of a disappointing jobs market report, stocks were poised to retreat Wednesday after China's central bank suggested it might tighten the cash flow to stem inflation risks. Especially for many metals, China has been the world's largest consumer and reduced spending could have ripple effects across the globe.

Comcast Corporation (NASDAQ: CMCSA ) reported EPS of $0.65 on revenue of $16.15 billion, compared to last year's EPS of $0.46 on revenue of $16.54 billion. Many believe that the years of deflation Japan has suffered will keep the inflation rate at 1 percent and that the bank will need to make more policy changes in order to combat it. Although Facebook released impressive earnings on Wednesday, warnings about the future from the company's executives overshadowed its 60 percent revenue growth.

Industrial metals were mostly higher with Aluminum up 0.52 percent but copper down 0.63 percent. Earnings reports expected on Thursday include: ConocoPhillips (NYSE: COP ) is expected to report third quarter EPS of $1.39 on revenue of $12.97 billion, compared to last year's EPS of $1.44 per share on revenue of $15.09 billion. Many believe that the years of deflation Japan has suffered will keep the inflation rate at 1 percent and that the bank will need to make more policy changes in order to combat it.

(( CSX CEO Discusses Q3 2013 Results - Earnings Call Transcript , Seeking Alpha, October 16, 2013)) In the fourth quarter, CSX's export coal business is forecast to grow marginally primarily on weak y-o-y comparisons. The ratio was impacted by factors such as higher incentive compensation, inflation, volume-related expenses and cycling of prior year's real estate gains. We expect the intermodal business to be a long-term growth driver for CSX, thanks to the massive highway-to-rail conversion opportunity present in the market coupled with the company's investments to increase its capacity in this area.

If part of the reason for moving from fixed income to low volatility stocks is a fear of inflation and thus high interest rates, however, you may wish to be even more selective. I like to feel in control and believe in the power of “tweaking” so that would probably be my preferred tactic, but for most, simply trusting the past performance of the index overall and buying SPLV will serve the purpose. It really isn’t their fault; their advisors have been taught to equate the two things and have stated this as a fact.

Reduced guidance from Catepillar ( CAT ) and Broadcom ( BRCM ) is overshadowing better-than-expected earnings from Dow component Boeing ( BA ), with the aircraft manufacturer appearing to overcome safety concerns over the lithium-ion batteries in its Dreamliner 787 jetliners to post a 16% year over year gain in earnings and lifting its stock price to a new record high. Mixed corporate earnings and worries that China may need to fight rising inflation with higher interest rates has the U.S. markets reversing course after yesterday climbing to record highs. Unauthorized reproduction is strictly prohibited.

The ratio was impacted by factors such as higher incentive compensation, inflation, volume-related expenses and cycling of prior year's real estate gains. We expect the intermodal business to be a long-term growth driver for CSX, thanks to the massive highway-to-rail conversion opportunity present in the market coupled with the company's investments to increase its capacity in this area. CSX's domestic coal business showed a 7% volume decline due to reduced demand for electricity and high inventory stockpiles in the Southern utilities.

Although there were some underperformers such as Yelp ( YELP ) and LinkedIn ( LNKD ), earnings superstars like Dreamworks ( DWA ) and Lifelock ( LOCK ) and the expectation for Facebook ( FB ) and Starbucks (SBUX) to also beat estimates added to yesterday's record highs. Led by a 0.8% gain in energy costs, the September consumer price index increased an as-expected 0.2%, and only 0.1% excluding the volatile food and fuel component. OXBT, A meta-analysis of multiple clinical trials showed that Oxygen Biotherapeutics' levosimendan can reduce mortality in heart-surgery patients.

Other Stocks to Consider Other stocks that are worth considering this earnings season include WD-40 Company ( WDFC ), Energizer Holdings Inc. ( ENR ) and Kimberly-Clark Corporation ( KMB ). ENERGIZER HLDGS (ENR): Free Stock Analysis Report KIMBERLY CLARK (KMB): Free Stock Analysis Report NEWELL RUBBERMD (NWL): Free Stock Analysis Report WD 40 CO (WDFC): Free Stock Analysis Report To read this article on Zacks.com click here. Adjusted gross margin expanded 30 bps to 38.1%, benefiting from improved productivity and pricing, largely offset by inflation and favorable mix.

In earnings news, Posco ( PKX ) cut its 2013 sales outlook. Asian shares declined as investors shrugged off some data amid disappointing results. Japan's CPI rose 0.7% from a year earlier, matching the forecast from a Dow Jones Newswires survey, and little changed from August's 0.8% increase.

Salesforce.com Inc (NYSE: CRM ) was up 2.59 percent in premarket trade after climbing 5.93 percent over the past week. However, if the flood of delayed US data paints a favorable picture, investors could start to hedge their bets on a sooner than expected taper. He said that the Japanese financial system is running smoothly and that the bank is planning to continue easing until the country's inflation rate is stable at 2 percent.

( CPIX ) for its gastroenterology drug, Omeclamox-Pak. ACTAVIS PLC (ACT): Free Stock Analysis Report AKORN INC (AKRX): Free Stock Analysis Report CUMBERLAND PHAR (CPIX): Free Stock Analysis Report PERNIX THERAPTC (PTX): Free Stock Analysis Report To read this article on Zacks.com click here. Pernix Therapeutics, LLC ( PTX ) has recently entered into a co-promotion agreement with Cumberland Pharmaceuticals Inc .

Allstate Corporation (NYSE: ALL ) is expected to report third quarter EPS of $1.06 on revenue of $7.30 billion, compared to last year's EPS of $1.46 on revenue of $7.06 billion. All rights reserved. Many believe that the years of deflation Japan has suffered will keep the inflation rate at 1 percent and that the bank will need to make more policy changes in order to combat it.

In equities, Caterpillar ( CAT ) fell 5% after Q3 sales and earnings declined and missed estimates. -Dow Jones Industrial down 0.48% -S&P 500 futures down 0.50% -Nasdaq 100 futures down 0.50% -Nasdaq-100 Pre-Market Indicator down 0.26% After rallying on a slew corporate earnings and on hopes that the U.S. Federal Reserve will maintain its asset purchasing program in the wake of a disappointing jobs market report, stocks were poised to retreat Wednesday after China's central bank suggested it might tighten the cash flow to stem inflation risks.

Other Stocks to Consider Other stocks that are worth considering this earnings season include WD-40 Company ( WDFC ), Energizer Holdings Inc. ( ENR ) and Kimberly-Clark Corporation ( KMB ). ENERGIZER HLDGS (ENR): Free Stock Analysis Report KIMBERLY CLARK (KMB): Free Stock Analysis Report NEWELL RUBBERMD (NWL): Free Stock Analysis Report WD 40 CO (WDFC): Free Stock Analysis Report To read this article on Zacks.com click here. Adjusted gross margin expanded 30 bps to 38.1%, benefiting from improved productivity and pricing, largely offset by inflation and favorable mix.

Cliffs Natural Resources (NYSE: CLF ) gained 2.09 percent in premarket trade after rising 7.42 percent over the past five days. However, if the flood of delayed US data paints a favorable picture, investors could start to hedge their bets on a sooner than expected taper. He said that the Japanese financial system is running smoothly and that the bank is planning to continue easing until the country's inflation rate is stable at 2 percent.

Here are some notable ETFs worth taking a look at for Thursday, October 10, 2013. iShares MSCI United Kingdom ETF (NYSE: EWU ) The Bank of England announced it will keep its key lending rate at 0.5 percent, the same level it has been since March 2009. However, EWU is interesting in that it is underperforming the S&P 500 as well as its European peers. Many economists thought Brazil would begin to slow the interest rate hikes designed to fight inflation, but the central bank did not give that indication.

Other Stocks to Consider Other stocks that are worth considering this earnings season include WD-40 Company ( WDFC ), Energizer Holdings Inc. ( ENR ) and Kimberly-Clark Corporation ( KMB ). ENERGIZER HLDGS (ENR): Free Stock Analysis Report KIMBERLY CLARK (KMB): Free Stock Analysis Report NEWELL RUBBERMD (NWL): Free Stock Analysis Report WD 40 CO (WDFC): Free Stock Analysis Report To read this article on Zacks.com click here. Adjusted gross margin expanded 30 bps to 38.1%, benefiting from improved productivity and pricing, largely offset by inflation and favorable mix.

Discover Financial Services (NYSE: DFS ) is expected to report third quarter EPS of $1.19 on revenue of $2.07 billion, compared to last year's EPS of $1.21. However, if the flood of delayed US data paints a favorable picture, investors could start to hedge their bets on a sooner than expected taper. He said that the Japanese financial system is running smoothly and that the bank is planning to continue easing until the country's inflation rate is stable at 2 percent.

GlaxoSmithKline ( GSK ) also missed on sales in Q3 amid a 29% decline in healthcare product sales in China where it has faced bribery charges. After rallying on a slew corporate earnings and on hopes that the U.S. Federal Reserve will maintain its asset purchasing program in the wake of a disappointing jobs market report, stocks were poised to retreat Wednesday after China's central bank suggested it might tighten the cash flow to stem inflation risks. Especially for many metals, China has been the world's largest consumer and reduced spending could have ripple effects across the globe.

Gannett Co., Inc. (NYSE: GCI ) is expected to report third quarter EPS of $0.44 on revenue of $1.27 billion, compared to last year's EPS of $0.56 on revenue of $1.31 billion. However, if the flood of delayed US data paints a favorable picture, investors could start to hedge their bets on a sooner than expected taper. He said that the Japanese financial system is running smoothly and that the bank is planning to continue easing until the country's inflation rate is stable at 2 percent.

iShares MSCI Indonesia ETF (EIDO-ETF report) Launched in May 2010, EIDO is one of the most popular Indonesian ETFs; this product trades in about 550,000 shares a day, tracking the MSCI Indonesia Investable Market Index. Click to get this free report >> ISHARS-MS INDON (EIDO): ETF Research Reports MKT VEC-INDONES (IDX): ETF Research Reports To read this article on Zacks.com click here. While poor infrastructure, poverty & unemployment, corruption still remain a matter of concern inflation, current account deficit and high interest rates have lately weakened the growth prospects for the Indonesian economy.

Despite a challenging environment, Costco Wholesale Corporation 's ( COST ) comparable-store sales results for October betters analysts' expectations. Excluding the effect of gasoline prices and foreign currency fluctuations, Costco's comparable-store sales for October rose 6%, reflecting comparable sales growth of 5% at its U.S. locations and 7% at international outlets. Coming to Costco, comparable-store sales for the 9-week period increased 3%, buoyed by 4% growth at the U.S. and 1% increase at international locations.

As long as global growth remains below its long-term average of 4%, central banks around the world, including the Federal Reserve, will continue to be more concerned about deflation than inflation. Some of my firm's favorite stocks in our Revenue Buster Portfolio include the following: Bed Bath & Beyond ( BBBY ), Sysco Corp. ( SYY ), and Visa ( V ). The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pearson ( PSO ) said it has agreed the sale of The Mergermarket Group to funds advised by BC Partners for an enterprise value of GBP382 million ($620 million), payable in cash. European shares were narrowly mixed, with German stocks just edging out a gain despite weak retail sales. Also, the annual rate of inflation in the eurozone rose to 0.9% from 0.7% in October, the European Union's statistics office said in a preliminary estimate today.

The rate bettered the Bank of England (BOE)'s prior expectation. The BOE moved forward the achievement of its threshold jobless rate target (7.0% or lower) to 3Q 2015 from its earlier timeline of 2016 end. Also, the BOE feels inflation will likely inch up in the upcoming months once the new utility prices are effective and that quarterly GDP growth rates may soften next year.

Ericsson ( ERIC ) was upgraded by analysts at Swedbank to a Buy rating from Neutral. European shares were narrowly mixed, with German stocks just edging out a gain despite weak retail sales. Also, the annual rate of inflation in the eurozone rose to 0.9% from 0.7% in October, the European Union's statistics office said in a preliminary estimate today.

Other stocks to watch out for in the industry are Black Hills Corp. ( BKH ), Alliant Energy Corp. ( LNT ) and Edison International ( EIX ), each with a Zacks Rank #2 (Buy). BLACK HILLS COR (BKH): Free Stock Analysis Report CPFL ENERGI-ADR (CPL): Free Stock Analysis Report EDISON INTL (EIX): Free Stock Analysis Report ALLIANT ENGY CP (LNT): Free Stock Analysis Report To read this article on Zacks.com click here. Moreover, it faced a decline in domestic activities, driven by inflation, more stringent credit conditions and lowering of business and consumer confidence.

Market Vectors Gold Miners ETF ( GDX ) climbed 2.7% to 24.55. Some market watchers said the bounce was driven by short-covering after Federal Reserve Chair nominee Yellen's dovish remarks to the U.S. Senate Banking Committee. The gold and silver bulls assumed that joint central bank stimulus programs around the world have failed to lift inflation as intended, Strazzullo says.