Stocks rose again, but only modestly, to new highs for this year. Actually, I'm stretching it, NAZ is just below its high reached on the first day of this month. Dow was up 20, S&P500 gained 4, advancers beat decliners about 4-3 but NAZ was down pennies. Volume was light on the semi-holiday. The Financial Index just eked out a new 2009 high:
Value____206.96
Change___1.86
% Change_0.9%
MLPs had another outstanding day. The Alerian MLP Index was up 2.33 in the 258s, another 2009 high. The Dow Jones REIT Index was down pennies & has been flattish over the last 2 weeks. Junk bond funds continued strong lowering their yields. The 10-year Treasury bond yield was flat at 3.38%. Oil is 73 & gold remains strong at 1056.
Averages, higher out of the gate, were strong in the AM. But selling (on a light trading day) took over in the PM, limiting gains. Significant news stories highlighted by earnings are coming tomorrow. Dow is ever so close to 10K. The first time it cracked that barrier was Mar 1999. Sorry for today's last post, I expect to be more prompt tomorrow.
No comments:
Post a Comment