S&P 500 FINANCIALS INDEX
| Value | 223.86 | |
| Change | -1.65 (-0.7%) |
The Alerian MLP Index gained a fraction to a new record high which brings the yield down to 6%. The REIT index fell chump change in the 232s, near its highs since Oct 2008. Junk bond funds were pretty much flat as were Treasuries. The yield on the 10 year Treasury bond inched up a basis point to 3.45%.
Treasury yields:
| U.S. 3-month | 0.15% | |
| U.S. 2-year | 0.62% | |
| U.S. 10-year | 3.42% |
Alerian MLP Index --- 2 weeks
Dow Jones REIT Index --- 2 weeks
10-Year Treasury Yield Index --- 2 weeks
Oil surged, approaching its highest price in more than 2 years, on concern that protests in Egypt may threaten exports from the Middle East. Gold is still muddling along $100 below its recent record highs.
| CLH11.NYM | ...Crude Oil Mar 11 | ...91.53 | ... 0.76 | (0.8%) |
| GCG11.CMX | ...Gold Feb 11 | ......1,333.60 | ... 3.40 | (0.3%) |
Gold Super Cycle Link! Click Here
Photo: Reuters
US private employers added more jobs than expected in Jan, underscoring views the employment picture is slowly improving. The private sector added 187K jobs in Jan compared with a downwardly revised gain of 247K jobs in Dec, according to payrolls processor ADP Employer Services. The Dec figure was originally reported as a gain of 297K jobs. The Jan ADP figure was also above expectations for145K job gains. Last month, the ADP figures turned out to be much stronger than what the gov report showed in its jobs report, so take its optimistic tone with a grain of salt. The Labor Dept report on Fri is expected to show a rise 145K in Jan.
ADP Estimates Companies in U.S. Added 187,000 Jobs
Photo: Bloomberg
Gas at the pump may rise 13% by May if oil tops $100 a barrel & a recovering economy boosts fuel demand. It is estimated that the highest price for regular gasoline this year will be $3.50 a gallon. Regular gas averaged $3.11 a gallon yesterday according to AAA (the record high was $4.11 in Jul 2008). US fuel use over the past 4 weeks was 1.6% higher than a year earlier, according to the Energy Dept. Brent oil already rose above $100 on Jan 31, the first time since Sep 2008. Worldwide oil demand is expected to grow in 2011 by as much as 1.8M barrels a day (2%).
U.S. Gasoline at the Pump May Rise to $3.50 a Gallon by May
| Regular | Mid | Premium | Diesel | 85 | **E85 MPG/BTU adjusted price | |
| Current Avg. | $3.108 | $3.300 | $3.419 | $3.444 | $2.679 | $3.525 |
| Yesterday Avg. | $3.101 | $3.293 | $3.411 | $3.435 | $2.684 | $3.532 |
| Week Ago Avg. | $3.106 | $3.299 | $3.417 | $3.425 | $2.660 | $3.501 |
| Month Ago Avg. | $3.072 | $3.263 | $3.379 | $3.318 | $2.625 | $3.454 |
| Year Ago Avg. | $2.661 | $2.827 | $2.928 | $2.855 | $2.285 | $3.007 |
Source: AAA
Time Warner (TWX) said Q4 profit jumped 22%, helped by strong subscription & advertising increases in its TV operations & cost-cutting in publishing. EPS was 68¢ in Q4, up from 53¢ last year. Excluding one-time items, EPS was 67¢, surpassing the average estimate of 62¢. Revenue rose 8% to $7.8B, beating forecasts of $7.5B. For this year, TWX expects EPS, excluding items, to rise by a percentage in the "low teens" from a base of $2.41 recorded for last year. Assuming an increase of 12%, EPS would rise to $2.70 (above the average estimate at $2.64). Revenue from HBO & Turner Broadcasting rose 14% to $3.3B, helped by a 21% jump in advertising. Warner Bros. movie studio revenue rose 10% to $3.6B, primarily from higher TV licensing fees. However, its operating income fell 5% due to lower DVD sales. The div was raised 11% to an annual rate of 94¢. The stock was up 2,10 after doing little in the last year.
Time Warner Profit Beats Estimates After `Potter,' TV-Ad Gain
Time Warner --- 1 year
With the big jobs report coming on Fri, markets turn cautious after Dow topped 12K yesterday. Earnings season is winding down & markets are giving a grade of about C. But expectations are still running high for a fairly strong recovery in 2011.
Dow Jones Industrials --- 2 weeks
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