S&P 500 FINANCIALS INDEX
The Alerian MLP Index finally broke thru the 300 ceiling last week but now it's rethinking that move up. The index is down almost 5 (a big move by its standards) to just under 300. However, this is an options expiration day adding extra excitement to trading. The Dow Jones REIT Index dropped 2 to the 198s. Junk bond funds were a little lower. The yield on the 10-year Treasury bond was flattish at 3.67%.
Alerian MLP Index --- 2 weeks
Dow Jones REIT Index --- 2 weeks
Oil is hanging is barely hanging in above 80 after taking a big spill this AM. Gold also is having an off day but trying to hold above 1100.
|CLJ10.NYM||...Crude Oil Apr 10||...80.48 ||... 1.72 |
Germany & France, 2 of the biggest member of the EU, have differing opinions about how to bailout Greece. Germany wants to get Greece a loan from the IMF while France wants to keep this inside the European Union. Meanwhile Greece debt problems are not going away.
Sarkozy Opposes IMF Loan to Greece
Photo: AP Photo/Elaine Thompson
Boeing Moves Up Output Rate Increases on 777s, 747s
Boeing --- 2 years
Based on best guessing, Nancy Pelosi is still a few votes shy off getting a majority of the House to vote for her health care bill (which is scheduled to happen on Sun). A preliminary version is posted on line (all 2000+ pages) if anybody wants to read a lot of confusing bureaucratise. The Dodd bill to add new regulations for the banks is another big unknown, especially for banking stocks. In addition, India raised its lending rate from 3¼% to 3½%, the first increase in almost 2 years. Dow has been on an 8 day winning streak featuring only modest (25 point) daily gains. Even Dow needs a rest. Dow has been slipping & is down 100 from its high over 10.8K early this AM.
Dow Jones Industrials --- 2 weeks