S&P 500 FINANCIALS INDEX
| Value 175.84 | Change 13.50 | % Change 8.3% |
Banks have been soaring taking the index above 164, starting point for this year. Bank of America (BAC), up 64¢, representative of many banks, reached a new high for 2009. In all fairness, Citigroup (C) would have to rise another 3 taking it to the 7s to top its starting point for the year.
Bank of America ---- YTD
High yield, so called risky, investments have had huge gains in the last 2 months. MLPs have been higher all year. With today's gain of 6, the index is up 24% YTD. REITs have been had a nice recent run recently but are still trying to get back to the starting point for 2009. The junk bond index fund just broke into the black YTD.
Alerian MLP Index ---- YTD
Dow Jones REIT Index ---- YTD
Barclay's Hi Yield Bond ETF - YTD
Oil is riding the bullish sentiment of the markets. Early this year oil was in the low 40s as traders were talking about how far down in the 30s it could go.
| CLM09.NYM | ..Crude Oil Jun 09 | ..58.40 | .. 1.69 ......(3.0%) |
Markets have been on a winning streak for 9 weeks, 8 of those have been up weeks. Apr was mostly sideways with a modest upward tilt, maybe that was needed to digest gains (called base building). Dow is shooting to top 8776, the starting point for 2009. Today it closed 202 short while the S&P 500 is in the black by 26.
Dow Jones Industrials ---- YTD
An optimistic strategist, JPMorgan’s Thomas J. Lee, told clients that the S&P 500 may end the year at 1,100, 19% above today’s close. That would also be a stellar 63% above the 676 close on Mar 6. Whhhhhhho there!
•JPMorgan Expects Stock Index to Rise 21 Percent This Year: Chart of Day
I get worried when I see AIG soar over 4 fold in 2 months. For those who don't mind playing with fire, have fun!!
AIG ---- 2 months
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