Market gains for 5th straight day

Stocks had another good day, stretching the winning streak to 5 days. Dow rose 102, advancers ahead of decliners 2-1 (not exceptional) while NAZ was up a tepid 3.


Dow Jones Industrials --- 1 week





Dow Jones Industrials --- 1 month





S&P 500 FINANCIALS INDEX went up 5 to 170 The Alerian MLP Index was up 6 to 183 (a 7 day high) but the Dow Jones REIT Index slipped 3 to 131. High yield (junk) bonds were flattish, but up 25% from the overly depressed prices just a few days ago. The VIX was flat, but down from 80 at the start of the week. Markets settled a bit as buyers clearly won the day ahead of the weekend.

The 10 year Treasury bond had a super rally in Nov driving the yield to 2.96%, a record low. The 90 day Treasury bill yields only 3 basis points, rounding we can call it zero. After dipping to the 51s in early trading, oil rebounded to flat at 54.43.

First glimpses for retail sales today look to be sluggish. Next week we'll learn more about sales results & the future of the 3 auto companies (among other news stories). Autos already had their biggest 2 day rally in 28 years (i.e. General Motors rose about 70% to 5.24 in the 2 days).