The assassination of Bhutto in Pakistan brought out sellers today. Dow is down 139, decliners are ahead of advancers almost 3-1 and NAZ is down 31. The killing raises concerns about oil, a lot comes from this part of the world. Oil is up 1.16 to 97.13 & the Treasury bond rose (flight to safety) reducing it's yield from 4.29 to 4.23%. Not helping was the report for durable goods, up only 0.1% (below expectations of a 2.2% figure).
Banks & REITs were weak among the many losses. The MLP index pulled back 2 points to 300 after a big run up in the last few days. Volume continues low. Tax loss selling for individuals is over, one good thing in this market.
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