Indecisive markets waffle

Markets began trading on a down note but have recovered to little changed, advancers ahead of decliners 4-3. With the stimulus package hanging over our heads & part II of the bank bailout just behind it, markets are not expected to do much.

I saw this story on Bloomberg TV, kind of scary. It reports the gov may have to force General Motors (GM), still a Dow stock, & Chrysler into bankruptcy to protect its (it is the gov) interests. They have hired lawyers to protect their investment. We haven't heard the last of this story from politically charged DC.

•General Motors, Chrysler May Be Placed in Bankruptcy to Protect U.S. Loans


There is not a lot of direction today. S&P 500 FINANCIALS INDEX is up 1, the Alerian MLP Index is up 1 to 203, trying to push higher in its trading range above 200, & other indices are mixed.


McDonald's (MCD), a Dow stock & Dividend Aristocrat, had a very good Jan. Same-store sales worldwide were up 7.1% led by a strong showing in Europe. The stock is up 50¢. MCD has probably been the best performing Dow stock in the last year.

• McDonald's January same-store sales up 7.1 percent- AP

McDonald's --- 1 year




Oil was up on hopes about the stimulus package & the bank bailout.

CLH09.NYM

..Crude Oil Mar 09

...42.12

... 1.95 .......(4.9%)

Not much to do while markets await developments in DC.