S&P 500 FINANCIALS INDEX
| Value | 197.86 | |
| Change | -1.33 (-0.7%) |
The Alerian MLP Index slipped another 2 to the 325s, down 10 in 2 days. The REIT index was off a fraction in the 206s. Junk bond funds were pretty much flat while the VIX was up a fraction in the 23s. The yield on the 10 year Treasury bond rose 2 basis points to almost 3.05%. The € went over $1.30 & European stock markets are at 12 week highs.
Alerian MLP Index --- 2 weeks
Dow Jones REIT Index --- 2 weeks
VIX --- 2 weeks
10-Year Treasury Yld Index --- 2 weeks
Oil is down again after being in the 78s at the start of this week. Gold is up $2.70 to $1164, not much going on here.
| CLU10.NYM | ...Crude Oil Sep 10 | ...76.37 | ... 1.13 .......(1.5%) |
Orders to US factories for big-ticket manufactured goods fell in Jun as demand for commercial aircraft plummeted. But businesses increased spending on capital goods for a 2nd straight month, a sign that manufacturing continues to help keep the economic recovery afloat. Durable goods orders dropped 1% last month to $190½B, the Commerce Dept said. It was the 2nd straight monthly decline & the largest drop since Aug 2009. Orders for commercial aircraft fell 25.6%. But without the volatile transportation sector, orders fell 0.6%. Orders for Jun were 16.5% higher than last Jun, when the economic recovery had yet to take hold & also sharply below the pre-recession peak of $229½B in Jul 2007.
Capital Goods Orders in U.S. Climb, Signaling Investment Pickup
Orders for durable goods - 1 year
Q2 profits for Boeing (BA), A Dow stock, fell 21% on lower revenues. The$787M profit was bigger than expected, though revenue fell more than expected. BA delivered 114 commercial aircraft during Q2, down from 125 a year earlier. It said revenue will rise next year when it delivers its new 787 & 747-8. EPS for Q2 was $1.06, 5¢ more than expected but revenue fell short of expectations of $16.1B. The stock dropped 1.04.
Boeing --- 2 years
Enbridge Energy Partners (EEP) will acquire the entities that comprise the Elk City gathering & processing system from Atlas Pipeline Partners (APL) for $682M & the acquisition is expected to close by year end. EEP also has a spill problem as crews are working to contain & clean up an estimated 877K gallons of oil that is flowing into the Kalamazoo River, one of Michigan's major waterways. EEP crews & contractors are using oil skimmers & absorbent booms to minimize its environmental impact. "This is our responsibility," EEP CEO Patrick D. Daniel said . "This is our mess. We're going to clean it up." An aside for APL, because its symbol looks like the one for Apple (AAPL), its units can tag along with AAPL shares! EEP slipped 59¢ while APL rose 3.64 (29% for the biggest daily gain) on its good news.
Enbridge Energy to Buy Atlas Pipeline Assets in Texas, Oklahoma Panhandle
Enbridge Energy --- 2 years
Atlas Pipeline --- 2 years
Stocks are sloshing around again, failing to convincingly establish a new post Jun high. Treasury yields are rising, one indication of easing concerns. After the gargantuan spill problem in the Gulf, the oil leak problem by EEP will be watched closely & carefully.
Dow Jones Industrials --- 2 weeks
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