S&P 500 FINANCIALS INDEX
The Alerian MLP Index rose .57 in the 313s while the REIT inched up pennies in the 210s. Junk bond funds keep marching ahead to prices not seen in many, many months. But the yield on the 10-year Treasury Index went up 4 basis points to 3.86% keeping it in high & worrisome territory.
Alerian MLP Index --- YTD
Dow Jones REIT Index - YTD
10-Year Treasury Yld Index - YTD
Commodities took the hint from the stock markets & went higher. Oil is back above the important 85 level, keeping its positive momentum. Gold is also looking good, it may want to top its record high above 1200.
|CLK10.NYM||..Crude Oil May 10||..85.87 ||.. 1.82 |
|GCJ10.CMX..||Gold Apr 10||..1,156.50||.. 3.70 |
Gold Super Cycle!!
The Federal Reserve's new survey is consistent with chairman
•Fed Says Economy Expanded `Somewhat' in Most of U.S. as Spending Increased
Below are charts for 4 stocks which have been flying pretty high this year. Apple (AAPL), with the 3rd largest market cap, has done well (up 3 to the 245s today) because its business is going full steam. Ambac (ABK), Fannie Mae (FNM) & AIG (AIG) have made a lot of money for short term traders who made good bets on big swings. If AAPL, among others, stumbles, its chart could look more like the rest. Today ABK was up 15%, FNM up 8% while AIG slipped 1%. For a contrast, the chart for Wal-Mart (WMT), Dow stock & Dividend Aristocrat, was added. Even though it has a smaller market cap than APPL, it has been doing well & increased the div in 2010. Maybe it, along with other Dividend Aristocrats, should be getting more respect if this is truly a recovery period for the economy.
Apple --- YTD
Ambac --- YTD
Fannie Mae --- YTD
AIG --- YTD
Wal-Mart --- YTD
After finding it so difficult to break thru, Dow has established 11K as a new floor. Greek debt problems are fading away slowly, the € is up to nearly $1.37 reflecting more optimism about Greek muddling by. But I'm disturbed by has-been stocks like AMK getting so much attention when companies with a history of delivering earnings (& div) growth are largely ignored. For the time being, the bulls are back in charge & most investors are happy.
Dow Jones Industrials - YTD