S&P 500 FINANCIALS INDEX
| Value 190.95 | Change -3.32 | % Change -1.7% |
The Alerian MLP Index gained 1+ to the 278s, another yearly high, not seen since Jul 2008. The Dow Jones REIT Index slipped 2. Now it needs a gain of 4 to top the high reached last Sep. Junk bond funds were mixed, many yields are only 10+%. The yield on the 10-year Treasury bond remained 4 basis points higher (from the AM post) at 3.60%, a 4 month high.
Alerian MLP Index --- 6 months
Dow Jones REIT Index --- 6 months
Oil broke its losing streak while gold was flat. Oil will try to establish 70 as a floor.
| CLF10.NYM | ..Crude Oil Jan 10 | ..70.69 | .. 1.18 ......(1.7%) |
| GCZ09.CMX | ..Gold Dec 09 | ..1,122.70 | .. 0.60 ......(0.1%) |
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Wells Fargo (WFC) sold $10.65B in stock to help repay a $25B bailout received from the US gov last year. The shares were sold at $25 each, 2% below yesterday's close. CEO John Stumpf & other executives repeatedly said the bank would repay funds in a shareholder-friendly manner. The stock offering dilutes shareholders by about 10% & the bank said that it would result in a Q4 charge of about $2B. WFC rose 17¢ to 25.66.
Wells Fargo Sells Stock to Repay $25 Billion Bailout
Wells Fargo --- 2 years
Boeing's (BA), Dow stock, new 787 jetliner finally took off, more than 2 years late & $4B over budget. The 2 member crew planned to perform basic tests & systems checks to make sure that the airplane flies the way it's supposed to fly. BA was down 38¢ to 55.67.
pictures from Bloomberg
Boeing’s 787 Dreamliner Takes Off on Maiden Flight
Boeing --- 2 years
Markets eased back on news which had a little something for everybody. There is talk about autos coming back strong next year with a 20% increase in sales to 12M units. The National Association of Home Builders said its housing market index fell one point to 16 this month, reflecting concern about job losses. Markets remain optimistic & essentially at yearly highs, however Dow & NAZ have not been break thru in a meaningful way to new highs for more than a month. Tomorrow the FED speaks & everybody will listen.
Dow Jones Industrials --- 6 months
Nasdaq --- 6 months
2 comments:
Nice!! it is very much interesting post, not only interesting but also informative post it is..
thanks for the post.
Tax preparer
Our government continues to throw such a large amount of money at the problem that it has temporarily stabilized the economy. But this comes with a lot of consequences, and the current expansion of the money supply is not sustainable because it will kill the value of the dollar and create a big inflation problem in a few years. That is why I feel gold is one of the best asset classes to invest in currently given its safe haven status and that it is denominated in dollars. This article is a further discussion on these issues Gold Price Wobbles Under $1,130 But U.S. Dollar Future Bleak, which analyzes the relationship between the dollar, the gold price, and gold mining companies as a result of the Federal Reserve's easy monetary policies. I thought it was especially helpful for investors to read to get a better sense of the inter-connectedness between the various sectors of the financial markets to improve their investment knowledge.
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