S&P 500 FINANCIALS INDEX
The Alerian MLP Index fell 1½ to the 310s, remaining at lofty levels. The Dow Jones REIT Index fell 2, again profit taking which is to be expected. Junk bond funds were mixed to a little higher. The yield on the 10 year Treasury bond is down 1 basis point to 3.96%, staying very close to the important 4% figure.
Alerian MLP Index --- 2 weeks
Dow Jones REIT Index --- 2 weeks
Oil is settling back along with the stock markets, but gold has added a few friends. However, gold needs to go above 1200 to reach new record levels.
|CLK10.NYM||...Crude Oil May 10||....86.53 ||... 0.31 |
|GCJ10.CMX...||Gold Apr 10||...1,147.90 ||... 12.80 |
Greece is still bumbling along trying to figure out how to pay for its deficits. There is a growing awareness that default is a more realistic option. The €, one measure of the seriousness of this problem, is lower at $1.33½ (not good for the global economy). Meanwhile Dow has not been able to break through 11K this week even though NAZ has been inching up. The biggest news item in the markets is the 4% yield on the key Treasury bond. If it tops & holds 4+%, all markets will be in trouble. Alcoa (AA) on Apr 12 will be the first Dow stock to report Q1 earnings, giving a hint about earnings season.
Dow Jones Industrials --- 2 weeks
Nasdaq --- 2 weeks
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