Thursday, August 11, 2011

Markets rise on jobless data

Dow rose 267, advancers over decliners 5-1 & NAZ gained 70.  Bank stocks are also having a good day, but the Financial Index charts still looks soggy.

S&P Midcap Financials Sector Index

Value424.19One-Year Chart for S&P Midcap Financials Sector Index GICS Level 1 (S4FINL:IND)
Change10.678 (2.582%

The MLP & REIT indices are each up 7 in today's rally.  The MLP index is back above the important 350 resistance/support level.  Junk bond funds are higher.  Treasuries were lower while the stock markets are in a rally mode.  Oil was little changed but gold sank 22 on profit taking.


Treasur4y yields:

U.S. 3-month


U.S. 2-year


U.S. 10-year


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Stock markets are in rally mode again, not sure what that really means!  The jobless claims fell below 400K, an encouraging sign.  But that's only one week of data, the economy is not doing well.  DC is still a mess with a call for the politicos to get back to work this month.  European leaders are coming off vacations to clean up there sovereign debt problems.  Some call this a "technical" rally which is all it may be.  Sorry this is shorter, but had computer problems.

Dow Jones Industrial Average (^DJI)

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