Dow dropped 97, decliners over advancers 4-3 & NAZ fell 3. Bank stocks sold off in the PM, taking the Financial Index down 1+ to the 194s & off 5 from its recent highs. The Alerian MLP Index rose 2+ to the 403s, another record close. However, that takes the yield below 6%, a troubling sign in the past. The REIT index slipped 1+ to the 245s. Junk bond funds & Treasuries were mixed to lower. Oil rose to a one-month high following reports that Iran halted shipments to Europe & that US inventories declined for the first time in 4 weeks. Gold had a good day on increased anxieties from Europe sending frightened money into gold.
JPMorgan Chase Capital XVI (AMJ)
Treasury yields:
U.S. 3-month 0.107%
U.S. 2-year 0.266%
U.S. 10-year 1.929%
CLH12.NYM Crude Oil Mar 12 102.01 1.27 (1.3%)
GCG12.CMX Gold Feb 12 1,726.60 10.70 (0.6%)
Apple (AAPL) dropped 2+ to the 497s (29 below its intra day high which set a new record). Between that & Greek debt worries, the markets sank. All traders are watching Europe & nobody has any answers or knows where this debt mess will take us. I get the feeling that nothing new will be learned tomorrow or even on Fri. But Dow keeps ganging in there, just 1% below its high reached a week ago.
Dow Industrials
JPMorgan Chase Capital XVI (AMJ)
Click below for the latest market update:
Treasury yields:
U.S. 3-month 0.107%
U.S. 2-year 0.266%
U.S. 10-year 1.929%
CLH12.NYM Crude Oil Mar 12 102.01 1.27 (1.3%)
GCG12.CMX Gold Feb 12 1,726.60 10.70 (0.6%)
Apple (AAPL) dropped 2+ to the 497s (29 below its intra day high which set a new record). Between that & Greek debt worries, the markets sank. All traders are watching Europe & nobody has any answers or knows where this debt mess will take us. I get the feeling that nothing new will be learned tomorrow or even on Fri. But Dow keeps ganging in there, just 1% below its high reached a week ago.
Dow Industrials
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