Wobbly markets after mixed economic data

More inconclusive news so stocks are wandering. Dow is off 5, advancers & decliners are about equal while NAZ dropped 9. There is not much going on with bank stocks.

S&P 500 FINANCIALS INDEX

Value	189.81
Change	0.11 (0.1%)

The Alerian MLP Index rose 3 to the 319s, but down 1 from its earlier highs while the REIT index was flattish. Junk bond funds were up fractionally & the VIX was pretty much even. The yield on the 10 year Treasury bond fell 3 basis points to 2.71%. The € fell again to below $1.28 after being above $1.32 last week.

Alerian MLP Index --- 2 weeks




Dow Jones REIT Index --- 2 weeks




VIX --- 2 weeks




10-Year Treasury Yld Index --- 2 weeks





Not much happening with these commodities. Oil is trying to hold above the important 75 line while gold looks good as long as it stays above 1200.

CLU10.NYM

...Crude Oil Sep 10

...75.59

... 0.15 .......(0.2%)

GCQ10.CMX

...Gold Aug 10

...1,212.50

... 2.30 .......(0.2%)

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Retail sales rose 0.4% last month, buoyed by auto & gasoline station purchases. Excluding autos, sales climbed 0.2%, according to the Commerce Dept. Consumer prices rose 0.3% in Jul, the Labor Dept said. That's the largest increase in 12 months for the CPI, the most closely watched inflation measure. Energy prices jumped for the first time in 5 months. Excluding food & energy prices, "core" index increased 0.1% in Jul. The cost of housing, clothes, used cars & trucks all rose. Over the past year, consumer prices rose 1.2%, up slightly from last month's 1.1% pace but still a mild increase. Broad declines in retail sales raises concerns that spending will slow further in H2. Households are saving more & spending less as they struggle with high unemployment & lackluster job growth.

Retail Sales in U.S. Rise Less Than Economists Estimated

U.S. Consumer Prices Climb, Easing Deflation Risk


Sales at US retailers - 1 year




Sales excl. autos & gas - 1 year




Inflation less autos & food - 1 year






The Thomson Reuters/University of Michigan index of consumer sentiment climbed to 69.6 in Aug following a reading of 67.8 in Jul (the lowest since Nov) & beat forecasts of 69, a hopeful sign for sluggish retail sales. The index averaged 89 in the 5 years leading up to the recession that began Dec 2007.

Consumer Sentiment Index in U.S. Increased in August



Trading is very light so there are only small changes in stock prices. But the low rates on Treasuries funds remain & low rates are not good for the stock market.

U.S. 3-month		0.15%
U.S. 2-year		0.54%
U.S. 10-year		2.70%

Dow Jones Industrials --- 2 weeks

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