The 6 month chart below shows after Dow's plunge in Sep-Oct, it bounced back over 8K where it has traded for the last couple of months.
Dow Jones Industrials --- 6 months
The conflict in the Middle East can't bring out buyers for oil. The global meltdown continues as center stage for all markets.
| CLG09.NYM | ...Crude Oil Feb 09 | ....39.00 | ... 0.03.......(0.1%) |
Joe has THE blog for MLPs, limitedpartnerships.blogspot.com. Yesterday he named 11 MLPs as candidates for distribution cuts (which will be announced in around mid Jan). He adds another 8 as iffy for cuts. There were about 60 MLPs the last time I looked. The bigger ones with financial strength should be able to get thru the financial crisis & weakness in energy markets in good shape. But negative news stories may hurt all the group, creating more attractive buy points for strong MLPs.
Master Limited Partnerships
Weekly jobless claims went down 94K last week to a less bad number of 492K. It is difficult to explain this drop but states verified that their numbers were correct. Labor Dept said timing of the year-end holidays & volatility in factors used for seasonal adjustments were likely to blame for the large decline.
Coca Cola (KO), a Dow stock & member of the S&P 500 Dividend Aristocrats, has a long track record of growth telling us it should get thru these difficult times in better shape than many other companies. They've paid a div every year since going public in 1920 & have had annual increases for the last 40+ years. In addition, KO has been actively buying back shares for over 20 years. With one of the best known brand names in the world, they are expected to continue their streak of higher annual dividends in 2009.
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