Markets advance again, on a 5 day winning streak

Stocks began the day little changed but picked up steam during the day.  Dow closed up 80 (near its highs and at another 2009 record), advancers over decliners 3-1 and NAZ gained 23. Banks did well, taking the Financial index within a couple points of its interim high reached last month.

Value

196.71

Change

1.79

% Change

0.9%

The Alerian MLP Index picked up steam, the Index rose 2+  to the 241s, the REIT index also added 2+.  Junk bond funds were generally higher while Treasuries sank.  The yield on the 10-year Treasury bond plunged 14 basis points to 3.34%, nearing its recent low yilelds.

Alerian MLP Index   ---   6 months




Dow Jones REIT Index   ---   6 months




10-Year Treas Yld Index - 3 months





Oil was able to hold its gains, ending at 72, & gold limited its early losses, staying close to 1K.

CLV09.NYM

...Crude Oil Oct 09

...72.04

... 0.73 (1.02%)

GCU09.CMX

...Gold Sep 09

...993.50 3:

... 1.80 (0.18%)

Procter and Gamble (PG) expects its prescription drug businesses to increase earnings by 32-34¢ per share in 2010. PG is  projecting organic sales growth of 1-4% for Q2 (Oct-Dec) and expects "solid" earnings growth but didn't give any figures (analysts expect 97¢). PG stuck to a Q1 estimate of 95¢-$1 (analysts expect 97¢).  Company guidance for the fiscal year 2010 is $3.99-$4.12 (analysts expect $3.90).  PG is a Dow company and a Dividend Aristocrat with a chart for 2009 that looks drab compared with many others.

• P&G sees sales starting to rise again in 2Q- AP

Procter and Gamble   ---   1 year





The Treasury Sec said the gov is moving to withdraw some of its support for financial markets and cautioned that the recovery will have “more than the usual ups and downs.”  OK, but that has to pinch somewhere.  Markets aren't bothered as Dow (along other averages) shot ahead to another 11 month high.  Optimism is carrying the day.  It's not often we stocks, commodities and bonds all rising..

Dow Jones Industrials   ---   6 months