S&P 500 FINANCIALS INDEX
| Value 198.73 | Change 0.57 | % Change 0.3% |
MLPs are hot again. The index had been in the 270-300 trading zoned for almost 3 months, but looks to be breaking out thru the ceiling. It reached 300, retreated 10% & now wants to head higher. MLPs were strong, the index rose 1½ to the 299s, knocking on the new high door. As a reminder of where it's come from, a 1 year chart shows that the index has doubled from the very lows 12 months ago! The REIT index was flat, actually up a fraction. Junk bond funds were mixed to higher while the yield on the 10-year Treasury bond rose 1 basis point to 3.61%.
Alerian MLP Index --- YTD
Alerian MLP Index --- 1 year
Dow Jones REIT Index --- YTD
Oil had a nice recovery after yesterday's sell off. Gold continues to find buyers. It's risen 10% off its lows a few weeks ago.
| CLJ10.NYM | ..Crude Oil Apr 10.. | 79.74 | .. 1.04 ......(1.3%) |
| GCH10.CMX | ..Gold Mar 10 | ..1,136.90 | .. 19.10 ......(1.7%) |
GLD (ETF) --- YTD
Photo: Bloomberg
The auto industry reported higher US sales in Feb after taking away customers from Toyota (TM). Toyota's US sales fell 9% last month, the only automaker to sell fewer cars & trucks in Feb. Ford, GM, Nissan & Honda all reported double-digit sales growth over last year (at the depth of the recession). Gains could have been even higher without the blizzards that slowed traffic to showrooms. Ford (F) posted a 43% jump in Feb & outsold GM for the first time in nearly a dozen years & also grabbed customers from struggling Toyota. Chevrolet car sales to individuals rose 10% in Feb, an indication that GM it taking some of Toyota's core market. Chrysler said its sales rose 0.5%, its first year-over-year monthly increase in over 2 years.
•Ford Tops GM in Monthly Auto Sales for First Time Since 1998 Amid 43% Gain
Annual auto sales rate - 1 year
This ended as a day with little accomplished. The end of the week will bring the jobs report giving another clue about the recovery of the US economy.
Dow Jones Industrials --- YTD
3 comments:
A great article indeed and a very detailed, realistic and superb analysis, of these books, very nice write up, it is really a nice book, Thanks.
The stock market is great if you know what you are doing but it is and always will have a certain risk factor. Another SMART investment that I found is Tax Lien investing. If you are not familiar with the phenomenon go HERE and discover how you could make thousands in the current bad economic times. This is easy and well worth your time and investment. You just always win! Love your post as well, very informative.
Post a Comment