Markets continued yesterday's rally. Dow is up 74, advancers ahead of decliners 2-1 & NAZ up 13 (stocks pulled back a little in the last few mins). Buyers were encouraged by the FED's move to add liquidity to the securities markets & oil pulled back to "only" 108. Just a couple of weeks ago they were trying to figure if 105 oil was possible. The volatility index pulled back 1 to 25 (above 20 is considered very high).
Last night Caterpillar (CAT), a Dow stock, up $3.09, said they expect growth of 5-15% this year. UPS (UPS), down 40¢, said they may miss Q1 forecast. This is an important company since they feel overall economic activity. Thornburg Mortgage (TMA) doubled today to $3.25, getting them away from death's door. Billions are at risk if they fail. Alerian MLP index pulled back a point to 282 erasing yesterday's a modest gain. I'm a little attached to these companies & their pipelines. But once again, they are at the heart of the economy although high oil & gas prices may get factored into today's decline.
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