S&P 500 FINANCIALS INDEX
| Value 200.15 | Change 1.42 | % Change 0.7% |
The Alerian MLP Index gained another 1, crossing 300 which ties its post Lehman collapse high 2 months ago. If it can decisively take out the that high, it may want to try for a new record at 343. That would be a stretch. Among other things, its yield is down to 7.1% narrowing the spread over the 10 year Treasury yield to under 350 basis points. The spread is the reward for accepting added risk compared to a Treasury bond. The REIT index is flattish in the 182s. It's doesn't get far from the 181 high of last Sep. Junk bond funds were off a tad, still offering high yields but at lower levels than where they've been for 18 months.. The yield on the 10-year Treasury bond rose 3 basis points to 3.65% (near prevailing levels for many months).
Alerian MLP Index --- 2 weeks
Dow Jones REIT Index --- 2 weeks
Oil is barely back over 80 while gold is flat. However gold has moved up 100 off its recent lows, it needs a rest.
| CLJ10.NYM | ...Crude Oil Apr 10 | ...80.19 | ... 0.51 .......(0.6%) |
| Gold | ...1,137.00 | ___-0.40 | ___-0.0% |
In Feb the US services sector grew at its fastest pace in more than 2 years. The Institute for Supply Management said its services index rose to 53.0 from 50.5 in Jan, the highest since Dec 2007 & well above the 51.0 forecast. A reading above 50 indicates expansion in the services sector. The index's employment component jumped to 48.6 from 44.6 the prior month while the prices paid component fell to 60.4 from 61.2.
•U.S. Service Industries Grow at Fastest Pace Since October 2007, ISM Says
Service business index - 1 year
Employment index - 1 year
US employers cut 20K jobs in Feb, compared with 60K in Jan, according to ADP, a payroll processor. The 20K jobs was in line with the estimates. In addition, the number of planned layoffs fell to the lowest level in 3½ years suggesting employers may be poised to start adding workers. This news comes ahead of the big jobs report on Fri. The administration has already put out word to be ready for figures which are not pleasing.
Private Sector Sheds 20,000 Jobs in February- Reuters
Costco (COST) & BJ's (BJ) results were good but not great & BJ lowered its forecast for this year (they may not have checked with my friend, she always finds a lot to buy there). COST was down 24¢ while BJ fell $1.97.
Costco 2Q profit rises; international sales strong
BJ's Wholesale Club 4Q profit, sales climb
Costco --- 1 year
BJ --- 1 year
Greece will put into action a $6½B austerity plan which helped calm world markets. Toyota is still testifying about how sorry it is for its problems. Dow has a nice advance over 4 days, but not sure if it has the strength to take out its Jan high just over 10.7K.
Dow Jones Industrials --- 2 weeks
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