Dow fell 22, advancers over decliners 3-2 & NAZ slipped a fraction on very light year end volume. Bank stocks were lower & the Financial Index is down about 40 in 2011.
The MLP index was down fractionally to the 388s, staying close to the 390 record, & the REIT index gained 1+ to the 234s. Junk bond funds are mixed & generally up modestly in 2011. Treasuries gained for a 4th day, poised for the biggest annual return since 2008, as investors sought the relative safety of US gov bonds on concern Europe’s sovereign-debt crisis will worsen. Oil inched up towards $100 as the US economy improves. Gold rebounded after having a bad 4 months.
Photo: Bloomberg
Gold rose for the first time in more than a week, leading a rally in precious metals, on speculation that the lowest prices in five months will spur demand from jewelers and investors.
ALERIAN MLP Index
DJ REIT INDEXDJR
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Photo: Bloomberg
Rising confidence, fewer layoffs & gains in holiday sales show the US economy is picking up, defying a slowdown in Europe & much of the rest of the world. The divergence could become even starker in 2012 as the world’s largest economy accelerates, the 17-member euro area sinks into a recession & growth in emerging markets cools. An improving job market & freer credit may underpin American household sentiment & spending just as the debt crisis in Europe prompts additional belt-tightening overseas. Stabilization in housing will erase a source of weakness at the same time vehicle replacement demand benefits companies like the automakers. Of course the goings on in DC can be a negative. An extension of the payroll tax cuts & emergency unemployment benefits is up for renewal in less than 60 days & the 2 sides are far apart.
Growth in U.S. May Accelerate Even as Europe Shrinks
There is not a lot happening with many away on holiday. MLPs had a good year while REITs & Junk bonds were about even, allowing investors to collect relatively high income. The slow pace of trading should be even slower in the PM
S&P 500 Financials Sector Index
| Value | 175.65 | |
| Change | -0.67 (-0.4%) |
The MLP index was down fractionally to the 388s, staying close to the 390 record, & the REIT index gained 1+ to the 234s. Junk bond funds are mixed & generally up modestly in 2011. Treasuries gained for a 4th day, poised for the biggest annual return since 2008, as investors sought the relative safety of US gov bonds on concern Europe’s sovereign-debt crisis will worsen. Oil inched up towards $100 as the US economy improves. Gold rebounded after having a bad 4 months.
Gold rose for the first time in more than a week, leading a rally in precious metals, on speculation that the lowest prices in five months will spur demand from jewelers and investors.
ALERIAN MLP Index
DJ REIT INDEXDJR
Treasury yields:
U.S. 3-month | 0.010% | |
U.S. 2-year | 0.255% | |
U.S. 10-year | 1.868% |
| CLG12.NYM | ...Crude Oil Feb 12 | ..99.41 | .... 0.24 (0.2%) |
| GCF12.CMX | ...Gold Jan 12 | .....1,570.90 | ... 31.00 | (2.0%) |
Get the latest market update below:
Rising confidence, fewer layoffs & gains in holiday sales show the US economy is picking up, defying a slowdown in Europe & much of the rest of the world. The divergence could become even starker in 2012 as the world’s largest economy accelerates, the 17-member euro area sinks into a recession & growth in emerging markets cools. An improving job market & freer credit may underpin American household sentiment & spending just as the debt crisis in Europe prompts additional belt-tightening overseas. Stabilization in housing will erase a source of weakness at the same time vehicle replacement demand benefits companies like the automakers. Of course the goings on in DC can be a negative. An extension of the payroll tax cuts & emergency unemployment benefits is up for renewal in less than 60 days & the 2 sides are far apart.
Growth in U.S. May Accelerate Even as Europe Shrinks
There is not a lot happening with many away on holiday. MLPs had a good year while REITs & Junk bonds were about even, allowing investors to collect relatively high income. The slow pace of trading should be even slower in the PM
Dow Industrials
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