Higher stocks on improved consumer confidence

Dow is up 21, advancers ahead of decliners 3-2 while NAZ is flat on another very quiet for the markets. Banks are flattish, the Financial Index has a tiny gain.

S&P 500 FINANCIALS INDEX

Value 195.32

Change 0.15

% Change 0.1%

The Alerian MLP Index & Dow Jones REIT Index are each down fractionally. Junk bond funds are firmer at their yearly highs. The yield on the 10-year Treasury bond is up 6 basis points to 3.81%.


Alerian MLP Index --- 2 weeks




Dow Jones REIT Index --- 2 weeks





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Oil & gold are quiet in this semi holiday week.

CLG10.NYM

...Crude Oil Feb 10

...78.88

... 0.11 .......(0.1%)

GCZ09.CMX

...Gold Dec 09

...1,105.20

... 2.00 .......(0.2%)

photo: Bloomberg









Consumers' confidence in the economy rose again in Dec fueled by a long-term outlook on jobs that reached its highest level in 2 years. The Conference Board says its Consumer Confidence Index rose to 52.9, up from a revised 50.6 in Nov. The reading remains far short of 90 that would signify a solid economy. The proportion of people who said jobs are hard to get decreased to 48.6% in Dec from 49.2% in Nov. The gauge of expectations for the next 6 months climbed to 75.6 (the highest since the recession began 2 years ago) from 70.3 in Nov.

•U.S. Consumer Sentiment Gains a Second Month as Job-Market Pessimism Wanes



Volume continues very slooow as markets try to extend their winning streak to 7 days. The uptick on consumer sentiment is another encouraging sign but difficult to deduce much from it. Without major news events, this week should be pretty much a non event for the markets. Money managers adjusting portfolios for year end balance sheets may be the key driver for stock markets.

Dow Jones Industrials --- 2 weeks