500 FINANCIALS INDEX
AIG --- 1 month
Citigroup --- 1 month
MLPs & REITs pulled back in line with ordinary profit taking. The MLP Index was off 1 to the 238s & REITs fell 2, both finishing off their lows. Junk bond funds were mixed but Treasuries rose in value. The yield on the 10-year Treasury bond dropped 5 basis points to 3.40%, its lowest level in over 3 months.
Alerian MLP Index --- 6 months
Dow Jones REIT Index --- 6 months
10-Year Treasury Yld Index - 6 months
Oil fell below 70 on worries about less demand from China if their economy slows. They are the biggest buyer of oil after the US.
|CLV09.NYM||..Crude Oil Oct 09||..69.63 ||.. 3.11 |
Simple worries move stocks in light trading. China has become a major player in the world economy, when it sneezes it gets a lot of attention. Wall Street took China worries in stride.
Dow Jones Industrials --- 6 months