S&P 500 FINANCIALS INDEX
| Value 215.53 | Change -6.01 | % Change -2.7% |
The Alerian MLP Index plunged 6½ to the 306s (one of its worst days in some time). Selling in the stock markets hurt along with concerns about the Gulf spill. The big oils also sold off on worries about their futures if drilling should be curtailed. Sorry there is not a chart for the Alerian index, but BigCharts failed to supply it. Maybe it's better you don't see it because it was ugly. The REIT index dropped 5¼ to the 213s, the 2nd attempt it tried to top last week's 219 high & it failed. Junk bond funds were lower. But Treasuries were very strong as the yield on the 10-year Treasury bond fell 9 basis points to 3.61%. The VIX, volatility Index, has been falling all year from a very high 35 to 16 on easing fears. But in the last 2 weeks, it shot up to 24 (3¾ today). Fears are rising, something that hasn't been seen in months.
Dow Jones REIT Index - 3 months
VIX --- 1 month
Oil took a nasty spill as traders worried the Gulf spill will work against oil. Oil continues in the sideways 80-5 trading range. While gold fell, it still wants to go higher especially with all the uncertainty about the Greek debt situation.
| CLM10.NYM | ..Crude Oil Jun 10 | ..82.79 | .. 3.40 ......(3.9%) |
| GCK10.CMX | ..Gold May 10 | ..1,169.00 | .. 13.70 ......(1.2%) |
Dow had its biggest daily decline in 4 months while the VIX has been climbing for 2 weeks on increased fears. Maybe this is a routine hiccup that should be expected after such a long run, gaining more than 4500 in a little over a year. But the € is down to $1.30, indicating the Greek debt collapse is not over & also on fears that other countries (such as Portugal & Spain) might be next in line to ask for a bailout. The Greek drama will play on tomorrow.
Dow Jones Industrials - 3 months
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