S&P 500 FINANCIALS INDEX
High yielders are having a great day. The Alerian MLP Index rose 2½ to the 301s, breaking thru the 300 ceiling (as it has done a few times this year). The REIT index is up 3 to 204. Junk bond finds are typically up about 1%. The VIX, volatility index, pulled back 1½ to 27 on easing fears. Treasuries are sharply lower. The yield on the 10-year Treasury bond rose 10 basis points to 3.32%.
Alerian MLP Index ---- 2 weeks
Dow Jones REIT Index --- 2 weeks
VIX --- 2 weeks
Gold fell on strength in the stock markets while oil is leaping ahead to the high end of its 70-75 trading range.
Gold Super Cycle!! Click Here
Exxon Mobil (XOM), Chevron (CVX) & ConocoPhillips (COP) are asking lawmakers not to punish them for damage inflicted from the oil spill in the Gulf of Mexico by BP (BP). Good luck! The big oil companies are making billions & seen as the enemy by the Dems in power. Gov officials will find it easy to blame them for anything & everything. But in today's rally, each stock is up over $1.
Exxon, Chevron Seek Reprieve From `Crucifixion' in Gulf
Exxon Mobil --- 2 years
Chevron --- 2 years
ConocoPhillips -- 2 years
Markets are higher today mostly on a "good feeling" about conditions. Dow is up 500 from its lows last week, but fundamentals don't look that good. Oil companies will be in the hot seat this week as politicos try to blame them for the mess in the Gulf. The rise in the € is helping ease fears for nervous investors. Let's were where this rally takes us.
Dow Jones Industrials --- 2 weeks
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