Stocks aren't sure what to do. Dow is up 20 going over 10.9K, advancers ahead of decliners 2-1 & NAZ is up 5. Banks are doing little, the Financial Index remains at recent high levels.
S&P 500 FINANCIALS INDEX
Value_____215.68
Change_____-0.28
% Change___-0.1%
The Alerian MLP Index is up a fraction but still in the 300s (off 5 from its recent high). The Dow Jones REIT Index is up a few pennies. Junk bond funds are little changed at their lofty levels. But the important yield on the 10-year Treasury bond is up another 2 basis points to 3.89%. Oil & gold are edging higher with nothing dramatic going on.
CLK10.NYM
Crude Oil May 10...82.3__0.20__(0.2%)
S&P 500 FINANCIALS INDEX
Value_____215.68
Change_____-0.28
% Change___-0.1%
The Alerian MLP Index is up a fraction but still in the 300s (off 5 from its recent high). The Dow Jones REIT Index is up a few pennies. Junk bond funds are little changed at their lofty levels. But the important yield on the 10-year Treasury bond is up another 2 basis points to 3.89%. Oil & gold are edging higher with nothing dramatic going on.
CLK10.NYM
Crude Oil May 10...82.3__0.20__(0.2%)
In Jan, home prices had their smallest annual decline in almost 3 years. The Standard & Poor's/Case-Shiller 20-city home price index fell just 0.7% from last year. In addition, prices rose 0.3% from Dec to Jan for the 8th consecutive monthly gain. The index is up nearly 4% from its bottom in May 2009, but is still almost 30% below the May 2006 peak. This report gives more of the same kind of news about housing.
•Home Prices in 20 U.S. Cities Unexpectedly Climb 0.3%, Case-Shiller Says
This is shaping up as another quiet days. The Greek debt situation muddles along. European countries & the IMF want to help but they have to make up the rules as they go along. The € is worth $1.34+, little changed from where it has been recently. Markets will probaly continue to drift for the balance of the day.
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