Dow climbed 125, advancers over decliners almost 3-1 & NAZ added 31. The MLP index fell 3+ to the 456s & the REIT index gained 1+ to the 284s,. Junk bond funds inched higher & Treasuries were about even. Oil traded above
$100 a barrel for an 11th day
on speculation that supplies at Cushing, Oklahoma, fell. Gold continued its climb in 2014.
AMJ (Alerian MLP Index tracking fund)
Photo: Bloomberg
ECB Pres Mario Draghi said policy makers are ready to add to stimulus if the outlook for prices deteriorates, though there are currently no signs of deflation in the euro area. “We don’t have any evidence of people postponing their expenditure plans with a view to buying the same thing at lower prices, in other words we don’t see what is defined to be deflation,” Draghi said at the G-20 meeting in Sydney. “We are aware of the risks. The Governing Council is willing and ready to take any action in case these risks were to gain strength.” He also spoke at length about signs of economic recovery in the euro zone, saying there are initial indications that confidence is returning & domestic demand is picking up. “I have to be cautious about this because we are not seeing strong, unambiguous developments,” Draghi said. “We are seeing first signs of a development which, if protracted in time, could gain strength.”
Draghi: ECB Prepared to Add Stimulus on Deflation Risks
Pfizer's, a Dow stock, pneumonia vaccine met the goals of a study required by US regulators when the therapy was approved for patients at least 50 years old. The trial (Capita) showed the vaccine worked against a first episode of vaccine-type community-acquired pneumonia in patients 65 & older. The FDA approved Prevnar 13 for adults 50 & older 2 years ago on an accelerated basis with the condition the company prove the shot protects against pneumonia in post-clearance studies. The vaccine is expected to generate $4.4B in revenue this year. The FDA approval was based on studies that showed patients taking Prevnar 13 had comparable or higher antibody levels than those taking Pneumovax 23. The results indicated the vaccine was reasonably likely to produce clinical benefit, which is what PFE sought to prove in the Capita trial. The stock rose 48¢. If you would like to learn more about PFE, on this link:
club.ino.com/trend/analysis/stock/PFE?a_aid=CD3289&a_bid=6ae5b6f7
Pfizer’s Vaccine Meets Goals in Post-Approval Study
IBM, another Dow stock, is expanding its cloud services to lure customers to its SoftLayer Technologies business, counting on it to help reverse 7 qtrs of declining sales, by making it easier for developers to build & adjust applications in the cloud, where information is delivered online instead of stored on local servers. The company plans to spend more than $1b on cloud-software development thru 2015, a double-digit percentage increase from the past 2 years. The move increases its bet on SoftLayer after acquiring the company for $2B last year & committed $1.2B in Jan to add 15 new data centers. As customers rely on the cloud rather than buying their own servers, a slump in hardware demand has contributed to IBM’s declining revenue. The move underscores SoftLayer’s position as one of IBM’s biggest gambles as it faces off the competition in cloud services. The stock went up 1.14. If you would like to learn more about IBM, click on this link:
AMJ (Alerian MLP Index tracking fund)
Treasury yields:
U.S. 3-month |
0.04% | |
U.S. 2-year |
0.32% | |
U.S. 10-year |
2.73% |
| CLJ14.NYM | ....Crude Oil Apr 14 | ...102.50 |  ....0.30 | (0.3%) |
| GCG14.CMX | ...Gold Feb 14 | .......1,333.30 | ...9.40 | (0.7%) |
ECB Pres Mario Draghi said policy makers are ready to add to stimulus if the outlook for prices deteriorates, though there are currently no signs of deflation in the euro area. “We don’t have any evidence of people postponing their expenditure plans with a view to buying the same thing at lower prices, in other words we don’t see what is defined to be deflation,” Draghi said at the G-20 meeting in Sydney. “We are aware of the risks. The Governing Council is willing and ready to take any action in case these risks were to gain strength.” He also spoke at length about signs of economic recovery in the euro zone, saying there are initial indications that confidence is returning & domestic demand is picking up. “I have to be cautious about this because we are not seeing strong, unambiguous developments,” Draghi said. “We are seeing first signs of a development which, if protracted in time, could gain strength.”
Draghi: ECB Prepared to Add Stimulus on Deflation Risks
Pfizer's, a Dow stock, pneumonia vaccine met the goals of a study required by US regulators when the therapy was approved for patients at least 50 years old. The trial (Capita) showed the vaccine worked against a first episode of vaccine-type community-acquired pneumonia in patients 65 & older. The FDA approved Prevnar 13 for adults 50 & older 2 years ago on an accelerated basis with the condition the company prove the shot protects against pneumonia in post-clearance studies. The vaccine is expected to generate $4.4B in revenue this year. The FDA approval was based on studies that showed patients taking Prevnar 13 had comparable or higher antibody levels than those taking Pneumovax 23. The results indicated the vaccine was reasonably likely to produce clinical benefit, which is what PFE sought to prove in the Capita trial. The stock rose 48¢. If you would like to learn more about PFE, on this link:
club.ino.com/trend/analysis/stock/PFE?a_aid=CD3289&a_bid=6ae5b6f7
Pfizer’s Vaccine Meets Goals in Post-Approval Study
Pfizer (PFE)
IBM, another Dow stock, is expanding its cloud services to lure customers to its SoftLayer Technologies business, counting on it to help reverse 7 qtrs of declining sales, by making it easier for developers to build & adjust applications in the cloud, where information is delivered online instead of stored on local servers. The company plans to spend more than $1b on cloud-software development thru 2015, a double-digit percentage increase from the past 2 years. The move increases its bet on SoftLayer after acquiring the company for $2B last year & committed $1.2B in Jan to add 15 new data centers. As customers rely on the cloud rather than buying their own servers, a slump in hardware demand has contributed to IBM’s declining revenue. The move underscores SoftLayer’s position as one of IBM’s biggest gambles as it faces off the competition in cloud services. The stock went up 1.14. If you would like to learn more about IBM, click on this link:
IBM Boosts Investment in Cloud Services to Attract Customers
International Business Machines (IBM)
It's puzzling why stocks are up today with nothing really new going on other than the chaos out of Ukraine continuing. That is a fluid situation, to say the least, & will get worse as it seeks to get bailout funds. Meanwhile, REIT index has been strong, with the index at a 4 month high. MLPs were crawling to new record highs just 2 weeks ago, but that rally lost steam with questions about Kinder Morgan, a prominent MLP, Junk bond funds have been having a good year, typically up about 5%.
Dow Jones Industrials
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