Monday, November 19, 2012

Markets take off on optimism over fiscal cliff talks

Dow shot up 151, advancers over decliners 9-1 & NAZ is up 43.  The MLP index exploded another 7½ to the 389s (up 20 in 2 days) & the REIT index was up 2.  Junk bond funds also are recovering while Treasuries are retreating in a rising stock market.  Oil & gold are up more than 1% each.

AMJ (Alerian MLP index tracking fund)


stock chart

Treasury yields:

U.S. 3-month

0.076%

U.S. 2-year

0.242%

U.S. 10-year

1.622%

stock chart

Markets take off on optimism over fiscall cliff talksMarkets take off on optimism over fiscall cliff talksMarkets take off on optimism over fiscall cliff talks
Read more: http://www.nasdaq.com/symbol/amj/stock-chart#ixzz2CgNAUeFD
CLG13.NYM...Crude Oil Feb 13...89.25 .....Up 1.78 (2.0%)

GCX12.CMX...Gold Nov 12.....1,730.10 ...Up 15.80 (0.9%)







Sorry, but Blogger just gobbled up much of my work.  However the big picture story is stocks are having a very big rally after being oversold.  Words are cheap out of DC & it's easy to see how they can bring out the buyers.  But we're a long way from a final deal which will still probably disappoint many on both sides of the debate.  Even with today's rising market, Dow is well below 13K it has accepted as a floor for much of this year.

Dow Jones Industrials


stock chart





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