Markets higher on hopes for economic growth

Markets started the day with gains & continued climbing to close at the their highs. Dow rose 169, advancers over decliners almost 4-1 & NAZ was up 30. Banks participated in the rally, but the Financial Index was just able to get back over 190 (it's former floor for several months).

S&P 500 FINANCIALS INDEX

Value 191.63

Change 4.61

% Change 2.5%

MLPs were on fire. When the Alerian MLP Index shoots up more than 5 , that's big. The index ended up 5½ to the 288s & today's gain brought it back into the black YTD. Higher markets also helped REITs, their index gained 5. Junk bond funds had modest gains & Treasuries retreated. The yield on the 10-year Treasury bond fell 3 basis points to 3.66%, still in the sideways band where it's been for several months.

Alerian MLP Index --- YTD




Dow Jones REIT Index --- YTD







Oil rose from a weaker dollar & increased tensions with Iran. However, it's still in the middle of this year's range. Gold also had a solid gain, nothing like the combination of a weaker dollar & tensions related to Iran to bring out gold buyers. It could be getting ready for another assault on the record high above 1200.

CLH10.NYM

..Crude Oil Mar 10

..77.10

.. 2.97 ......(4.0%)

GCG10.CMX

..Gold Feb 10

.,1,119.30

.. 29.80 ......(2.7%)

Gold Super Cycle!! Click Here


OIL (ETF) --- YTD




GLD (ETF) --- YTD




Below is a link to my article on Enbridge (ENB), a Canadian energy company with business interests in petroleum, gas & green energy. It was just published & got good reception at SeekingAlpha.com, thought you might like a read.

Canadian Energy Co Enbridge's Vast Potential

http://seekingalpha.com/article/188722-canadian-energy-co-enbridge-s-vast-potential

Photo: Bloomberg





The housing market index from the National Association of Home Builders rose 2 points in Feb, a sign that low interest rates & federal tax credits are boosting demand. The index reached 17 in Feb, after falling for 2 consecutive months. The increase may also signal builders are feeling better about their prospects following data that the job market could be improving. Interest rates for mortgages are near 5%, pushed down by the Federal Reserve's program to buy mortgage-backed securities. In addition, builders said they are seeing the effects of the tax credits for first-time buyers & current homeowners who move. But there are head winds, including a high number of foreclosures & a lack of financing for new projects. Mortgage rates could go up after the Fed's program ends this spring & buyer demand could wane after the Apr 30 deadline for the tax credit.

•Homebuilder Confidence in U.S. Rises More Than Forecast in Stability Sign

Demand for US. Treasuries fell by the largest amount on record in Dec led by China reducing its holdings $34B. If this continues, the US gov would have to make higher interest payments at a time of record federal deficits. Foreign holdings of US Treasuries fell by $53B in Dec, surpassing the previous record of a $44B drop in Apr 2009. Japan once again is the biggest creditor with holdings of $769B, modestly ahead of China's total of $755B. The US is projected to need $1T yearly for the foreseeable future.

Foreign demand for Teasury sees record drop AP






Find out what's inside Trend TV Click Here


Stocks began the week with strong gains. High yielders did well, although the junk bonds lagged a bit. A bomb was set off in Greece at a Chase office, adding to tensions over Greece & its debt problems. Stock buyers will need another excuse tomorrow to keep the rally going.

Dow Jones Industrials --- YTD



Nasdaq --- YTD