Gold jumps 2 percent to set record high for Third Day

NEW YORK (Reuters) - Gold surged to a record high Friday is for The Third straight day, as investors Kept up a buying frenzy Fueled By The Outlook for U.S. Interest Rates Low That has propelled bullion to seventh consecutive weekly rise ITS, ITS longest winning streak since 2007.

Bullion jumped to $ 1569.30 a year as U.S. Consumer Spending ounce rose for a ninth straight month in March With inflation at Its Highest in Nearly a year. Platinum Group Metals aussi rose about 2 percent to 1 percent silver Fell after soaring to record High in the previous session.

Option traders Reported strong buying of call options and call spreads, Reflecting bullish market expectations. A gauge of Bullion Market Volatility aussi spiked in response to a sharp price rally.

"What has-been driving gold Is an Abundance of liquidity of Fed policy exceedingly accommodative That Remains, Which Is Going to Work Against the U.S.dollar, "Said Mark Luschin, chief investment strategist of broker-dealer Janney Montgomery Scott, $ 53 marriages Which one billion in client assets.

"There Is That inflation worry, Which Is Not a problem right now," could escalate to Become One. And it Does ounces, it very difficulty to put Becomes The Genie Back Into the Bottle, "he said.

The CBOE Gold Volatility Index (. GVX), Which Measures bullion investor anxiety, rose 6 percent to Highest Level in icts five weeks.

Spot gold up 1.8 percent last WAS at $ 1,563.30 a year ounce by 5 pm EDT (2100 GMT), HAVING Earlier year hit an all-time high $ 1,569.30. The metal has notched nine percent monthly gain, icts Strongest sincere November. Bullion posted aussi seventh consecutive weekly rise icts, longest winning streak icts since 2007.

U.S.June up 1.7 percent future Settled at $ 1556.40 annually ounce, trading volumes With about one-Third icts below 30-day average due to a public holiday in London.

On the options front, heavy buying of call options and outright bull call spreads of June 2012 Call with strikes $ 1.800 and $ 2,000, COMEX gold options floor Said Jonathan Jossen trader cash advance today.

Bull call spread option play ya une chantiers The Buying of calls at one strike price while selling at a Higher Strike Them With The Same expiration date. Often investors expect Price to Rise Moderately With The strategy.

A slight drop In The dollar aussi Contributed to bullion's gains. Earlier in the Week, expectations of Further Weakness In The dollar Were the Biggest drive for gold and silver rallies to record highs.

SILVER RETREAT FROM RECORD

Silver retreated from the record high it set Thursday, goal WAS stills by far The best-performing commodity in April and so far in 2011.It posted a near 27 percent rise in April, icts Biggest monthly gain since April 1987.

Silver WAS 0.8 percent last down $ 48.03 at year ounce.

Silver Gained 3 percent this week, although analysts say icts robust performance Against The Other Precious Metals May Not Be sustainable.

"If silver Does not Make a new high and sustain Above That, It May Go Through a more vicious correction here.So, Gold in the short term "could go down in sympathy of That," Said James Dailey, TEAM Portfolio Manager of the Asset Strategy Fund.

Their bullish speculator scaled back bets in COMEX silver futures and options to The Lowest Since early February level, Even As Prices neared $ 50 a year The Psychological ounce, regulator data showed Friday.

The CME Group Inc. (CME.O), parent of The Chicago Board of Trade Thursday Said It Would it raise future maintenance margins for silver by 2.13 percent, the second time this week STI, making it more expensive to trade for silver in Speculator.

For Platinum Group Metals, Platinum echoed The strength in gold, rising 1.9 percent is the Day to $ 1,870.49 a year ounce, while palladium rose 2.6 percent to $ 790.97.

(Editing by Marguerita Choy)

Gold jumps 2 percent to set record high for Third Day

Deutsche Bank's crisis Investments drive bumper Q1

FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) posted second-best ever icts net profit as crisis-era At The Investments and investment bank deals to expand retail icts and wealth management operations helped The lender outperform peers.

Germany's Biggest lender is Said Thursday it posted a quarterly net profit of 2.1 billion euros ($ 3.1 billion), well above-the one billion euro 1.82 average estimate in a Reuters poll.

The figure Was Just shy of the record one billion euros seen in 2132 first quarter of 2007, and 18 percent in More Than The First Three Months of last year.

The first-quarter earnings gains Reflect Market Share At The investment bank as well as "Increased revenue from deals Struck After the Financial Crisis, Including The Purchase of retail lender Postbank and wealth manager Sal payday loans for bad credit.Oppenheim.

Deutsche Bank Said It Remains confidant It Can Deliver icts Target of 10 Billion euros pretax profit in 2011.

The investment bank 2.6 billion euros Delivered a total of EUR 3 Billion pretax profit in The First Quarter. Still while it accounted for the lion's share of earnings, It was just below-the year-earlier level of 2.7 trillion.

(Reporting by Edward Taylor)

($ 1 =. 6817 Euro)

Deutsche Bank's crisis Investments drive bumper Q1

Honda, Toyota cut production after tsunami India

MUMBAI, India - Honda's India unit Will halve auto production has Shortage Because Of followings components of the March tsunami in Japan, while Toyota Motor Corp.. IS cutting production by 70 percent.

Honda's plant Outside the capital New Delhi, Which turn out Cdn 100.000 vehicles a year, Will Run on single shifts starting in May, The Company Said in a statement Monday. The Company Hopes to resume full production after July.

"We are experiencing gaps in supply chain due o To The situation in Japan, resulting and cuts in production," spokesman Jnaneswar Sen Said in the States. "We plan to get back to normal production as soon as supplies normalize."

The March 11 earthquake and Tsunami Devastated Japan's northeast, home to Which WAS Thousands of auto parts suppliers.

Honda Motor Co. Said The supply of shares from Japan Remains "fluid," making progress with Most Suppliers to restart production.For The Few Who Have not Been Able Suppliers to make progress, Honda Said It Is Evaluating Other supply sources.

About three-quarters of the parties in MOST's models made by Honda Siel Ltd cheap payday advance. Joint Venture With. in India, Including The Popular Honda City sedan, come from India.

Honda Siel Cars India Ltd.. sold 59.463 vehicles in the Year ending March 31.

Honda has cut production aussi Had To "at its U.S. and Canadian factories.

Toyota's India unit, Toyota Kirloskar Motor Pvt. Ltd., Began icts 70 percent production cut on Monday. The company says it Will Operate at 30 percent of normal capacity-through June 4 Because Of Supply Difficulties followings The tsunami.

The company Said That It Planned March 15 to ramp up production from India 150.000 to 210.000 vehicles a year thanks to strong demand.

Japan Is The second-largest supplier of cars in the World, "as well as a major producer shares. Ford Motor Co., Nissan Motor Co., Mazda Motor Corp..and Chrysler aussi Have Said They Are Facing production disruptions due to the disaster or share Shortages followings.

Honda, Toyota cut production after tsunami India

In China, Success Is A black Audi A6

SHANGHAI (AFP) - The world's newest cars are one display at The Shanghai auto show, goal Xu Xingen cam for a Classic That Is Perhaps equated with Success and Power in China More Than Any Other - the Audi A6.

Half Of The Audi A6S in the World are sold in China, According to research firm Dunne & Co., where, with windows tinted black versions Darker Than Are The welding glass because of choice for Government Officials and company bosses.

"Many Chinese people Like the Audi, because a lot," Said Xu, after Testing the back seat, where, the 50-year-old entrepreneur plans to ride Most Of The Time. "It looks very beautiful, magnificent. I am going to buy a black one."

Boosted by sales A6, Audi posted a record first quarter sales in China up 18.2 Percent With and 51.951 cars sold.CEO Rupert Stadler Said At The Shanghai auto show That Was Set to Become China's Largest Audi market this year.

"In China, Audi IS regarded Officials to Be? Favorite because," another 50-something Chinese history after Said executive office manager snapped a photo of HIM Behind The Wheel Of The A6.

"The streamlining, The Design, The Space are all so very good Chinese Officials started" to drive this because very early. I am going to buy one, "he said. He declined, to Give His Name, Purpose Said He Was "from a Fortune 500 company."

The Audi A6's booth WAS silver, goal He Said That Would not do: "Black looks more mature and sedate.Officials Usually all drive black cars. "

The car's status IS Such That in Beijing, The Importance of Government meetings Sometimes CAN BE gauged by counting A6S How Many are parked outside.

Whistleblower Jianfu Lu, Who Has Gained has followings on China's Internet history by using video camera to catch Abusing Their Government Official Authority, Credits Launching A black Audi With That hobby has led to at least 10 Officials Being fired or punished no fax payday advances.

In 2007, Lu year saw Audi sporting a flashing police light, driving Against traffic was one-way street. When Police Told The driver to back up, because he Said The "Did not Have a reverse gear", the China Daily Told Lu.

Lu shot a video of the Scene and posted it online.The Audi driver, an Official pour la central city of Zhengzhou, WAS sacked as a result.

A newspaper reporter in The Northern city of Xian Borrowed year Audi A6 last year to test theories circulating on the Internet just by sitting in That year A6, women Spontaneously Would ask you for wrinkles.

His conclusion: the claims Were a myth.

The A6's status Comes Down to Audi Being One Of The First Premium Manufacturers to enter China, Said Klaus Paur, head of Synovate Motoresearch for Greater China and Korea.

INITIALLY, It Was A popular Government, because, But Then entrepreneurs started "buying 'em too.

"A lot of people Bought thesis A6S Simply Because It Was, Socially speaking, acceptable," Paur said."People Would not say 'you Are Showing off' Because It Was Also Endorsed By The government."

Purpose Audi A6S Run the Risk of Becoming too common in China and Losing Their luxury status, Compared to rival brands like BMW, Paur said. As a result, The Company IS Trying to Promote ITS New cars like Q3 compact sports utility vehicle.

Audi's CEO The Brand Canon IS confidant Become Even More ubiquitous.

"It Took us 23 years to sell one million vehicles o first in China," Stadler said. "We Aim to Deliver Customers Our second million in just Three Years."

In China, Success Is A black Audi A6

Hot News: Luxury carmakers see golden age in China

Toyota to recall 333.000 SUVs for airbag risk

DETROIT (Reuters) - Toyota Motor Corp. Said It Would we recall Thursday about 333.000 RAV4 and Highlander SUVs Because Of The risk airbag sensors and "could fail because the curtain airbags to deploy.

The recall covers about 214.000 94.000 RAV4 and Highlander SUVs from about The 2007 and 2008 Model Years in the United States, and about 6.000 19.000 RAV4 and Highlander in Canada.

The recall affects only vehicles sold in North America, Toyota said.

Toyota Owners of the vehicles Said Would Be Notified Of The recall by mail in May.

Toyota Said That, in boxes WHERE Almost Two sensors fail at the Same Time, the Side curtain airbags Designed to Protect Passengers in a rollover accident Could Be Such inflated Outside accident year.

WHERE boxes in just One Of The sensors facts, The airbag warning light activated Will Be, The automaker said direct payday lenders.

The sensors Were Made by Denso Corp..A Toyota Spokesman Said has changed Was Made In The Making of the sensors in January 2008 That fixed the Issue And That this is no more RECALLS outcome are expected.

The Spokesman Said he Knew of no accidents related to the curtain airbags outcome, goal Said That Some minor Injuries Have Been Reported. He Said He Did not Know How Many Injuries Have Been Reported.

(Reporting by Bernie Woodall and Kevin Krolick, editing by Andre Grenon, Bernard Orr)

Toyota to recall 333.000 SUVs for airbag risk

Hot News: Big Bomb found near Indonesia church, 19 Arrested

Coal miners cold on Australia carbon tax

SYDNEY (AFP) - Australia's Coal Industry is Powerful Wednesday urged Canberra to "go back to the drawing board" on ITS Proposed carbon tax, warning It Would Hurt the Economy for no Environmental Benefit.

Prime Minister Julia Gillard has Proposed putting a price on emissions of carbon, a key element of gases blamed for global warming, from July 2012, in a scheme That Will Operate Effectively INITIALLY like a tax.

Under The Proposal, a fixed price Would Be Placed on carbon emissions for The First Three to Five Years Before moving to a full cap and trade scheme Under Which The Price Would Be Linked to International Carbon Markets.

Gillard's ruling Labor party failed to implement Implements Twice a year Emissions Trading Scheme due to stiff opposition from big business and conservative Lawmakers in Damaging episode was seen as costing Her Predecessor, Kevin Rudd, job history.

Similar To Her Mounting opposition IS carbon tax plan, heavyweight With The Australian Coal Association (ACA) warning It Would cost jobs and send overseas investment UNLESS coal miners free gold Were Heavily compensated.

The emissions tax scheme Would From The coal mining process, Rather Than The Product Itself.

CBA chief Ralph Hillman goal of industry negotiations Said With The government: "The industry didn't ask the minister at the yesterday for more compensation, it really Asked HIM to go back to the drawing board.

"The European Union's managed to do this in a way Which Does not Negatively Impact The Competitiveness of trade icts Exposed Sectors, Why Can not We Do That Too?"

Australia Is The world's worst per capita polluter, Largely as it is subsequently assembled Heavily coal-fired power, and exports millions of tons aussi Of The Fuel Every Year to Asian Electricity companies and steelmakers no faxing pay day loans.

It Is Home To The World's Largest coal export port, With Total 2010 Shipments worth Aus $ 43 trillion (U.S. $ 45 trillion).

Hillman Said The carbon tax based WAS too Closely On The emissions trading scheme failed and Even Though coal eligible for exemption WAS have a trade-exposed industrie's The Government HAD attacked him they "didn't want to" do so.

"No Other Country in the world" That Was Taxing Polluters included emissions from coal mining, he Added, "Because They Are Too Hard to measure and There Is No abatement technology available."

"This is going to require year cost Aus $ 18 trillion On The Coal Industry Over the Next 10 Years.So you'll see a decrease in The Growth of the Industry and you'll see jobs lost, "Hillman Told ABC radio.

"Goal You Will not See Any impact on global emissions Because The coal mined Will Be In Other Countries And The emissions Will Go Up Just the Same.

Gillard's fragile coalition Government Holds power by just one seat and carbon Reviving the Debate Could Prove stiff challenge, With The opposition condemning The pollution levy as a "great big new tax."

Goal failure to act destabilising Could Be Equally, With The eco-minded Greens party has key partner in Her rule.

Coal miners cold on Australia carbon tax

Hot News: Yemen's impoverished economy hard hit by protests

MFI overseer: Policies That Eye spur capital flows

WASHINGTON (Reuters) - The International Monetary Fund "should offer recommendations for National Policies That spur excessive flows of capital Into Other Economies That As Well As Police seek to temper em, The IMF's steering committee Said on Saturday.

"Giving due regard to country-specific and Circumstances The Benefits of Financial Integration, Such An Approach Should Encompass Both recommendations for Policies That Give Rise to outward capital flows & the management of inflow," the panel of IMF member nations Said In A communicates.

The International Monetary and Financial Committee, a group of finance Officials from Around the World, Said The global economy but thats Strengthening WAS WAS Needed policy action given "" significant risks "Threatening The Recovery.

"Credible actions are Needed to Accelerate Progress in Addressing Challenges to Financial Stability and sovereign debt sustainability, and to Ensure Timely fiscal consolidation in advanced economies," it said no fax pay day loan.

It aussi Said steps Were Needed to Prevent Overheating inflationary year of Emerging Market Economies and to deal with Risk Posed By High commodity prices.

The IMF steering committee for further work aussi Called Toward Widening the basket of currencies comprised That The Fund's accounting unit, The Special Drawing Right.

Leading world economies Have Been Working On A Plan to include The Chinese yuan In The SDR basket. Progress, however, has-been slow, in part Because Of China's Policy of Keeping the yuan was tight leash.SDR currencies are Supposed to be "Freely usable."

(Reporting by Reuters IMF/G20 team; Writing by Tim Ahmann; Editing by Leslie Adler)

MFI overseer: Policies That Eye spur capital flows

Stocks & Bonds: Shares Rise is Optimistic Outlook

Stocks rose Friday we have higher-than-Estimated data are bolstered consumer confidence and manufacturing Optimism About the Economy.

Merck & Company and DuPont led gains in the Dow Jones Industrial Average. Charles Schwab, The Brokerage firm, rallied 2.1 percent as earnings and sales exceeded are analysts' estimates. Google Fell 8.3 Percent, The Most since 2008, after Fell short of earnings projections. Bank of America Fell 2.4 Percent as executive Said Profitability from lending Might come under pressure.

The Standard & Poor's 500-stock index rose 5.16 points, or 0.39 percent, to 1,319.68, trimming icts weekly loss to 0.6 percent. The Dow Jones industrial average rose 56.68 points, or 0.46 percent, to 12,341.83. The Nasdaq composite index up 4.43 points WAS, or 0.16 percent, to 2,764.65.

"The economy continued to expand & the Recovery Is sustaining," Said Russ Koesterich, The Head of Investment Strategy for equities at BlackRock Scientific active in San Francisco. "It's Not Going To Be a bad earnings season. It's Just That A Lot Of The Good News Is Already baked in. It's Going To Be a choppy market With An upward bias. "

Turned Stocks Higher After the Thomson Reuters / University of Michigan Preliminary Consumer Sentiment index rose to of 69.6, Higher Than Forecast, from March's 67.5 reading, Which Was The Lowest Since November 2009. The gauge WAS Projected to rise to 68.8, According To The median forecast of 66 economists by Bloomberg News Surveyed.

Manufacturing in the New York region expanded in April at The Fastest spleen in a year. The Federal Reserve Bank of New York's General Economic Index rose to 21.7 from 17.5 in March.Economists Projected 17, based On The median forecast in a Bloomberg News survey.

A Separate Reports showed industrial production Increased More Than Forecast in March, led by a rebound in consumer goods manufacturing fast payday loan no faxing. Output rose 0.8 percent, the fifth straight gain, Federal Reserve said.

Merck Gained 1.9 percent, to $ 34.51. The company Will split dirty arthritis drug Remicade pour la With Johnson & Johnson, ending a year arbitration dispute That helped drive down shares Merck Over the last year.

Charles Schwab advanced 39 cents, to $ 18.61. The brokerage firm beat Estimates, helped by interest revenue and Higher fees for managing assets.

Google slumped $ 47.81, to $ 530.70. A first-quarter Hiring binge Increased marketing and led to The Biggest Jump In Three Years in Operating Expenses.

Bank of America Fell 31 cents, to $ 12.82.'The company Reported first-quarter profit EXCLUDING Some items of 17 cents a share, missing analyst estimate by The Average 35 percent.

Higher Oil Prices and supply disruptions from Japan's earthquake March 11 Prompted Thomas Lee, equity strategist at year JPMorgan Chase to cut 2011 profit estimate for history The S. & P. 500.

Alan M. Gayle, senior investment strategist at RidgeWorth Capital Management in Richmond, Va.., Said: "The market IS Unforgiving. Investors Have Raised Their expectations What are deriving their good corporate performance. Yes, the Economy is Growing. The question IS, What is going to Convince Break Into The Market to new highs? So far earnings have-nots Been too inspiring. "

Interest Rates Were Lower. The Treasury's benchmark 10-year note rose 24/32, to 101 25/32, And The Fell To yield 3.41 percent from 3.50 percent late Thursday.

Stocks & Bonds: Shares Rise is Optimistic Outlook

Allied Irish Reports $ 15 Billion Annual Loss

DUBLIN (Reuters) - Allied Irish Banks Aimed to put the "collective madness" of a property bubble behind it homegrown Tuesdays with a jaw-dropping 10.4 Annual loss of one billion euros (9.2 pounds one billion) and a map to pin over 2.000 jobs.

A stock market darling train With international ambitions, AIB has been "Effectively nationalized and saved from collapse by emergency after ECB Funding Being shut out of debt markets and Losing 22 billion euros last year in Deposits.

There Were further "slight" deposit outflows this year, Mainly from overseas corporate funds, to Which fresh stress tests require AIB to raise one billion euros in capital 13.3 and a "big bang" overhaul Of The Sector Have Provided Some Stability.

"The News of the bank's recapitalization has-been Viewed by POSITIVELY The Market And We Hope That That now represented at turning point and now we can! The Bank rebuild from here," executive chairman David Hodgkinson state broadcaster RTE Told.

Dublin has Pledged to shrink Radically icts banking system as part of EU-year IMF bailout AIB and Will Be One of Two So-Called "pillar banks" left from What Was Once a crowded field.

AIB IS Hopping That Will 2010 Mark The nadir in terms of group purpose it has Losses Said It Is Too Early to Call the Peak in excess of. The MFI Slashed icts 2011 pour la croissance Irish economy forecast to just 0.5 percent from 0.9 percent Monday, underlining The Challenge Ahead.

Dublin has put a price on 70 billion euros drawing a line banking crisis and Under icts AIB IS second only to Anglo Irish, The poster child for Ireland's casino-style property lending, in The Burden It Is Putting Taxpayers are recession-weary.

"There Was Almost a kind of collective madness, everyone Went Crazy and for a very long time," Said Hodgkinson, chief operating officer to form at HSBC Appointed last year.

A charge of EUR 6 Billion, Representing 25.5 percent of loans, Against Potential Losses helped drive AIB's loss, a record company, and more Than oven Times Higher Than the 2.3 billion euro shortfall in 2009 generated.

"The scale of loss going forward are going to Be very materially different. This Is the Year in Which All Of The Loss Associated With The loan and lending activities of the Past Have Come to bear," Chief Financial Officer Bernard Byrne Told Reuters.

Analysts Said AIB HAD taken a lot of pain up front personal loans for people with bad credit.

"They Are Hoping That Is The 2010 peak. There Is not no sense in coming out and putting forward As Much As You Can in 2010 numbers When Everyone Is expecting the Numbers To Be Poor," Said Oliver Gilvarry, head of research at Dolmen Securities .

Three analysts forecast a net loss HAD of one billion euros in 4.6 a Reuters poll by I / B / E / S.

TOO EARLY TO CALL IN PEAK Arrears

Crunch stress tests, Carried out as part of EU-year IMF bailout, showed AIB That Had To raise one billion euros in 3.13 Additional capital to bullet-proof it from "any future shocks and Losses Arising From The Sale of Some 19 trillion euros worth of assets Over the next Three Years.

Much Of The one billion euro 13.3 IS Expected to come from state Cofferer although AIB IS Expected to generate capital from Some buying back 2.6 billion euros in debt at a discount Subordinated.

Under the stress tests, Which Were Conducted On The Country's oven Remaining banks, AIB Had the worst loan loss rate Under a stress scenario - 13.4 percent - Compared With A Sector average of 10.1 percent.

Icts in full-year results, AIB Said Nearly 30 percent of loans icts, EXCLUDING Any loans Still to Be Transferred to a state-run bad bank, Were criticised, Meaning That They Were Either EXHIBITING Signs of Weakness gold Were impaired.

Total impaired loans, EXCLUDING Those Earmarked For the bad bank, More Than Doubled HAD to 12.9 percent.

Byrne Said It Was Too Early to Call the Peak for Imprisonment, Which Nearly Doubled to 2.87 percent of AIB's owner-occupier mortgage book in Ireland.

"The Reality Is That the Economy Is Still in Difficulty," he said.

The Willis Group split Itself Into a core bank With 61 trillion euros in loans and Willie Parker 25 billion euros of loans Into a non-core operation.

Will it cut 2.000 jobs over Düring 2011 and 2012 was phased out of BASIS has over 15.000 of staff in Ireland and the UK. Such cuts come ahead of a merger with State-controlled EBS Building Society.

Byrne Said The EBS Merger Would not spark broad Another round of job cuts.

"The big numbers headcount That You are seeing now are the big piece of it."

(Editing by David Cowell)

Allied Irish Reports $ 15 Billion Annual Loss

Earnings Optimism for investors priced in

NEW YORK (Reuters) - The upcoming earnings season May Not Be The time for investors to buy aggressively, Because this year's winners Already Reflect Optimism earnings.

The first-quarter reporting period ", Which Begins Monday With results from aluminum company Alcoa Inc. (AA.N), Follow Three months of solid gains Stocks That Have Brought close to two-and-half-year highs.

Some gains in anticipation of Have Been a strong earnings season, particularly for The Energy and Other Sectors cyclical, analysts Said, raising questions about whether this quarter's reports Will Be Enough To Keep the recent uptrend intact.

Stocks Have Been Going up "in anticipation of earnings That Are Going To Be Real What the consensus expecting IS Basically," Said Ken Fisher, chairman and CEO of Woodside, California-based Fisher Investments, marriages Which $ 43 trillion.

Some investors see in The Rise and Other Energy Stocks That Benefit When The economy starts to recover and have Unsustainable Have Been paring back positions.

"We believe commodity inflation IS Probably near a peak ace Is The interest level in Many deeper cyclical" including The Energy Sector, Said Tom Galvin, a managing director and lead portfolio manager at Columbia Management in Stamford, Connecticut, Which has about $ 6.5 billion in assets Under management.

Overall, first-quarter earnings for S & P 500 companies are Expected To Have Increased 11.4 Percent From A Year Earlier, goal that's down from a Slightly forecast of 13 percent on April 1, is based Thomson Reuters data.

Strategists Fear Higher Costs commodity "could dampen results for consumer-related companies as well as" Those in industries With heavy fuel Costs Such as transportation.

Profit margins are Expected to Drop to 13.8 Percent In The First Quarter from 8.41 Percent In The Fourth Quarter, According to Charles Blood, senior market strategist at Brown Brothers Harriman.

The Energy Sector far surpassed Other Sectors In The First Quarter.The Standard & Poor's Energy Sector Index (. GSPE) Was up 16.3 percent in The Quarter, Compared With The list overall S & P's gain of 5.4 percent, and Oil Prices are at 2 1/2-year highs.

"During the fourth-quarter reporting period", The S & P 500 (. SPX) Gained about 3.6 percent.

Revisions to earnings Analyst Estimates Ahead of the reporting period "That view stand That IS Anticipating strong Wall Street gains In The Energy Sector instant credit report.

Since January 1, The Energy Sector has-been revised up The Most, With icts Expected growth rate for The Quarter rising to 9.25 percent from 5.11 percent, According to Thomson Reuters data.

On The Other End Of The Spectrum, the telecommunications Sector "has been" revised down-the most, falling to -3.4 percent from 7.5 percent.

Beside Alcoa top names reporting next week are JPMorgan Chase & Co (JPM.N), Bank of America Corp. (BAC.N) and Google Inc. (GOOG.O).

Fisher, Who Sees The Market Mostly flat this year, Will not Be Exceeded expectations Said In The upcoming earnings period "as They Were in recent quarters.

"Some Will shoot the lights out - the obvious question IS $ 64,000 Which ones," he said.

"If you like Materials, You'd Better Be Careful Which ones. The easy days of just buying Materials and riding it free, that's Two years old now."

Other agreements That Much Of The earnings Optimism IS Already in the Market. That May Set up a dynamic similar to The Fourth Quarter reporting period ", When only companies that far surpassed expectations rose after reporting results Substantially.

"People are very, very Cautious about underweighting (the energy sector) Because If You Were That underweight Sector in the Past couple of quarters, you underperformed," Said Natalie Trunow, senior vice president and chief investment officer of equities at Calvert Asset Management Company in Bethesda, Maryland. IT manager about $ 14.8 Billions in assets.

"There Is So Much Optimism around energy, I'm just not sure That It's Not Already priced in, and for Materials Likewise," she said. The S & P Materials Sector (. GSPM) WAS up 4 Percent In The First Quarter.

Some, however, are sticking With The Trends That Have WORKED. Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont, he Said Recently added to historical gold position. Gold Prices Have Been trading at all-time highs.

S & P 500 earnings reports Have Been beating expectations in recent quarters, With about 70 percent coming in ahead of Wall Street profit views, Compared With Roughly 60 percent Typically, Thomson Reuters data showed.

(Reporting by Caroline Valetkevitch, Editing by Andrew Hay)

Earnings Optimism for investors priced in

European Bank Stress Tests to German Banks Hit Hard

FRANKFURT - Banks That Fail Health checkup at Planned by European Regulators in June Will Be required to present a recovery plan That Could Force Some Weaker institutions, particularly in Germany, to raise more capital or Even Their operations wind down, According to documents released Friday.

The European Banking Authority released more details of how it Will Conduct The so-called stress tests of 90 of Europe's largest banks. The rules APPEAR to create a problem for Some German Landesbank by disqualifying a portion of The Fund uses to Meet They Now règlements on capital reserves.

The authority "in a statement Friday Said That It Is Expected" any bank "Specific Showing Weakness In The Stress Test, TO Agreement With The Supervisory Authority under The Appropriate Remedial Measures and execute 'em in due time."

The stress test has heated Have Become Political Issues in Germany Because THEY Threaten to require unpleasant choices On The State Governments and local savings banks That Typically Share Ownership In The Landesbank. The economics minister of The State of Hessen, Dieter Posch Said this week thats the state's Landesbank Helaba should "boycott The Stress Test, Which It Is Likely to fail.

It Is not up to banks, however, whether or not to participate way, officials said. While banks Cdn opt not to Disclose the Results of Their Tests To The General Public, They Must Give Information to Regulators as Part of the stress tests and required to take Would Be If They failed action.

While Political leaders and Representation of the Landesbank Have complained about The Stress Test, Many economists Have Said That IS pressure to force The Banks Needed to rebuild Their capital reserves and Avoid the Risk of Another Financial Crisis.

The banking authority "Said Friday That, to Pass The Stress Test, banks must have a capital cushion Equal to 5 percent of assets. Banks HAD Been Waiting for the EBA to Disclose How It Will Define the cushion, Known as core Tier 1 equity and regarded The Most sustainable form of reserves free credit score.

The European Banking Authority, Which Is Under Pressure to Make the tests more Rigorous and Credible Than a similar exercise last year, Said Friday That emergency aid Government Would Still Qualify as core capital.

Commerzbank, commercial lender in Frankfurt, IS Among Banks That Received trillion in capital From the German government.Purpose The Bank Already Said That It Would this week after new shares and Take Other Measures to aid repaid The capital reserves and bolsters icts.

The ABB definition to exclude Appeared So-Called silent participations by Other Shareholders, Such As The savings banks Who Provide significantly Amount Of The Many That Landesbank use funds to Meet capital requirements. The definition aussi Would exclude silent participations by State Governments That Were not part of an NSC bailout.

"Naturally silent participations are important to banks That Do Not Have Access to the market," Said Dominik Lamming, a Spokesman for The Association of German Public Sector Banks, Which Represents The Landesbank.

The association has Maintained German Landesbank That Would Pass The Stress Test, But It Argueda That It Was unfair to hold to a standard The Banks not yet required by law.

It Appeared thats the stress tests Were Already Planned Some prompting to take action Landesbank. The state of Lower Saxony Will convert silent shareholdings worth € 1.2 billion, or $ 1.68 trillion, in WestLB, Landesbank is based in Hanover, Into ordinary shares, The Handelsblatt newspaper Reported. Ordinary shares Would count Toward core capital for purpose of The Stress Test.

NordLB Could not Be Reached Immediately for comment.

European Bank Stress Tests to German Banks Hit Hard

Hot News: Constellation Brands posts profit for 4Q

How the major stock indexes fared Monday

In light trading day on Wall Street closed with slight gains for major stock indexes. With Oil Prices Reaching a 30-month high of $ 108 a barrel, investors are waiting for Some Alcoa Inc.. to carry icts first quarter earnings next Monday, The Unofficial Start Of The earnings season, Before making "any big moves. Traders are Hoping to see how rising gas prices and commodity Other Costs Affecting are corporate profits.

The Dow Jones industrial average rose 23.31 points, or 0.2 percent, to 12,400 paydayloans.03.

The S & P 500 rose 0.46, or 0.1 percent less Than, to 1,332.87.

The Nasdaq composite lost 0.41, or 0.1 percent less Than, to 2,789.19.

For the year to date:

The Dow Is Up 822.52, or 7.1 percent.

The S & P is up 75.23, or 6.0 percent.

The Nasdaq Is Up 136.32, or 5.1 percent.

How the major stock indexes fared Monday

Pfizer selling capsule arm to KKR for $ 2.4 billion

NEW YORK (MarketWatch) - Pfizer Inc. and Kohlberg Kravis Roberts & Co. LP Said Monday That year affiliate of KKR Would pay $ 2.4 billion in cash to buy Pfizer's Capsugel unit, Described As The world leader in hard capsules and innovator year in drug-delivery systems.

In 2010, Capsugel Recorded $ 750 Million in Revenue and More Than 180 Manufactured one billion hard capsules.

"We share Capsugel oD's for icts future potential to grow, Develop and Deliver year continues to unmatched quality of products," Said Henry Kravis, co-chief executive of private-equity powerhouse KKR, in a statement.

Separately, Pfizer Said icts new-drug application for tafamidis Received a Refusal-to-file letter from The Food and Drug Administration make quick cash.

The company, part of the Dow Jones Industrial Average, Said The federal agency Determined That its applications for a novel, oral investigational compound for patients with Familial Amyloid Polyneuropathy Transthyretin With Was Not sufficiently complete to permit substantive review.

The New York-based pharmaceutical company Said It's Working with the FDA to resubmit The application as Quickly As Possible.

"The Company Believes thats the Additional Information Needed to support this filing est disponible Without Further clinical studies," Pfizer said.

Pfizer selling capsule arm to KKR for $ 2.4 billion

Jennifer Waters's Consumer Confidential: Take That tax refund and spend it

CHICAGO (MarketWatch) - Conventional wisdom has it That Consumers use smart hefty Tax Refunds to Pay Off Debt or earmarks Toward a retirement or savings plan, maybe Even a rainy day fund.

But a lifestyle coach IS bucking That caution INSTEAD Encouraging people to Spend That Tax Refund Because The Return On The lifelong memory of, say, a great vacation, Is Greater Than Any financier now return you might get from a certificate of deposit savings gold account. And Who Knows, You Might Not Ever see "any kind of return at all if you die Before you retire.

Mossberg: Mozilla strikes back

In the long wars browser, Mozilla's Firefox has lost dominance in recent icts Years to Google's Chrome and Apple's Safari. WSJ's Walt Mossberg Test the Newly released Firefox 4, and Find It Is an improvement, goal Says Many new features are icts of catch-up to The Other browsers.

"Spend More Time Doing the Things You Want To Do Now Because You Do not Know about the Future," Said John Strelecky, an author Who prefaces historical moment-gratification Assessment with a heavy dose of caution about debt or wasteful consumption.

"I'm not maxing out your credit Advocating cards sitting there and big debt," Said Strelecky, Who co-authored The nonfiction book "How to be Rich and Happy." That Will Give you more stress, he said.

"Goal invest in you and the Life You Really Want to Live. Live your bucket list now, "he said.

His Reasoning, He Said, Is A Numbers Game.

Here's an example: A family gets a $ 5000 tax refund (this year's average, per person, Is About $ 3000, According To The IRS.) If the Parents, Who are 42 years old, Invest That Money, They Could Probably Slightly More Than Double That By The Time 23 Years Later THEY removed at 65.

That's Not Enough to justify The lifelong memory and Time Spent With Children That a special trip together Might generate.

If They HAD Invested In The S & P 500 in 2000 When The bear market Began to annihilate Investments they'd Have lost value - some 37% in 2008 alone - That would've left 'em in the hole by the End of 2009, though THEY Might Have Been Able To Have Made it up by today.

"Because of That, not only do you not get to Do the Things You Want To Do, You Do not Get the seven-day cruise, to a five-day cruise," Strelecky said.

What's more, he cites Social Security Administration statistics That One in Five Men Will Never Make It To Age 65 And That 29% Of Men Will Suffer from Life-Threatening Cancer, stroke or heart attack by The Time THEY turn 65, According to the American Illinois Association for Critical Insurance.

"No one intende for That To Happen," he said."My Philosophy Is That You Buy the insurance now (in shifts, etc..) N That You Have Lived an amazing life.

"No Matter When That two-minute warning ticks off, You Could Say You Did What You Wanted To Do With Your Life," he said. "Do not Wait Until You're 65 to start Spending your money to live a rewarding life."

Not Surprisingly, Those Who Have Built Their careers Helping people prepare for retirement, buy a house, was able to Children Through college or get Themselves out of debt roundly debunked Strelecky's advice to give up a chance to Better prepare yourself for the Future For What Amounts to cheap fun now.

"That's a bunch of crap to tell people not to invest Their Refunds If They Can," Said Frank Armstrong, president and founder of Investor Solutions, a Miami-based investment adviser. He's penned a few "aussi books on investment and retirement planning."If You're Losing Money in the S & P That Should Be a small sliver of asset classes The Potential That You Should Have Been Investing in If You Had a Properly Diversified Portfolio free business cards."

Armstrong's not a party pooper per se - he's "still working at 66 years old, drank says he travels and pretty much Does whatever he wants Because He Planned well for These Years - but he's an advocate of Being Prepared For the rest of your life, no matter how long or short Life That Might Be.

"I'm Totally Against People Who do not save or Have the idea optometrist Do not Have to save," he said. Year we've adviser Thousands of pension funds, He Said, he has Had the unpleasant experience of telling Some People who've Lost Their Jobs Either gold Been Forced Into That mandatory retirement they've got to keep working Because They Can not Afford to Without Sufficient withdraw assets.

"I Can Take 'em get $ 25,000 and has $ 1,000 to montant That's Not Enough To remove it, Even With Social Security included," he said. "People Have to prepare."

A recent study suggests Capital One Bank That a good chunk of Taxpayers Will ignore Armstrong's advice, opting for Strelecky's INSTEAD. Some 37% Said THEY Would Spend all or part of this year's clothing and accessories Refund is, a vacation or year iPad, TV or Other electronic gadget.

Only 5% Indicated THEY Would save it while stretching Toward Another 5% THEY Said Would it set aside for Their Children's Education. About 31%, however, Said They Will save at least a part of it and Another 19% Will Follow The Advice of Many Other Financial expect, Including Capital One, by Paying down debt.

And If You Do not Have debt, use to create Refund That year emergency fund, Said Kevin Gallegos, a vice president at Freedom Debt Relief, a consumer-debt resolution services company.

"It Would Be a foolhardy approach" to Take That money and go to Disneyland and not Have Any Money When Your water heater breaks, "he said.

In Other Words, think twice about instant gratification over delayed Choosing gratuity. "Taking a vacation is fantastic, goal Would not It Be Great to Have the cash to pay for it Rather Than Putting it on a credit card," Gallegos asked. He Said he's seen credit-card disclosure statements from customers Say That It Will Take Years to pay back 1.700 The Debt With minimum payments.

"The Smart Approach Is To Live On A cash basis and save money and Spend Wisely," he said.

If You're Still Wondering What To Do With That Tax Refund, here's What MOST personal finance experts, Including Armstrong, Gallegos and Capital One, Adviser:

Tackle debt. Whether it's a credit card, a payday loan or "any 401 (k) loans, pay it down or preferably pay it off and operat on cash.Pay off the bill With The Highest interest rate first And Then whittle your way down. Goal If It Feels Better to pay off the balance first Smallest, go ahead.

Save it. Interest on standard savings accounts Might not look too attractive right now, There Are Plenty purpose of savings options-you-can choose, Including CDs and money-market accounts.

Fund your IRA or your spouse's IRA. You Can get a tax break from it, too.

Fund An Education Plan for Your Children. There are plenty to choose from Cloverdale Such As The IRA, 529 college plan prepaid tuition gold plan.

Build That emergency fund. Gallegos suggests six months of Expense Should Be socked away. Armstrong's in Favor of Much More - Even As Much As Two years' worth of income options.

Make Sure Your Money Is Safe, Meaning That IS "any savings tool backed by The Federal Deposit Insurance Corp..

Jennifer Waters's Consumer Confidential: Take That tax refund and spend it

Hot News: Judge Orders Tax Case Against Italian Designers