Monday, May 16, 2011

Markets waver on European uncertainties

Dow rose 40, advancers ahead of decliners 3-2 & NAZ fell 4. Markets are in a cloud with the arrest of the French minister on sex charges. He is a key official for the IMF & this adds complications to fixing debt problems in Greece & Portugal. The Financial Index rose 2 to 214, but is still below the 220 area, a middle price in 2011.

S&P 500 FINANCIALS INDEX

The Alerian MLP Index has a modest rebound, up 1+ to the 36s, after 2 weeks of selling. The REIT index rose 2 to the 244s. Junk bond funds crept higher while Treasuries were flattish Oil & fold were litte changed.

JPMorgan Chase Capital XVI (AMJ)

Sorry for the shorter post, the new Blogger (which hosts my blog) is giving me problems. I guess they call that growing pains. Markets are not doing a lot. The arrest of the minister can be a major kick in the head for solving European financial problems. Obviously we will have to await developments, but the outlook is not good. MLPs are having a modest recovery, but doubts continue about possible changes to the favored tax treatments of distributions,even though indications are there will be no changes.