Stocks rose on hopes that the FED will hold off interest rate hikes because the core inflation number for May came in at a relatively moderate 0.2% rate. Dow was up 165 (also up slightly for the week), advancers ahead of decliners 2-1 and NAZ up 50. Prices closed near highs for the day but volume continues very low, just over 1B. 157 new lows on NYSE including: GE, KEY, WB, RF, MRK, Q, UNH, CMA, FHN, CBS, SNY (i.e. a bunch of banks just on this list & 2 Dow companies). Banks & REITs were generally a little higher, nothing dramatic. The Alerian MLP index inched up but still closed a little under 290.
Oil pulled back to under 135, remaining in super high territory. Corn, our biggest crop, hit a new another record high close. We'll have a lot to think about over the weekend, but the markets remain tough with the Dow still going sideways in the 12Ks.
No comments:
Post a Comment