S&P 500 FINANCIALS INDEX
| Value 196.91 | Change -0.11 | % Change -0.1% |
Not much happening today in high yield sectors, they deserve a rest. The MLP Index is down pennies still in the 267s while the REIT index is up pennies. Junk bond funds are higher while Treasuries fell. The yield on the 10-year Treasury bond rose 4 basis points to 3.25%. For the month, the high yield sectors did well, only REITs are not at yearly highs.
Alerian MLP Index --- 1 month
Dow Jones REIT Index --- 1 month
Oil & gold are higher with gold heading for 1200. Gold's chart shows it was the best performer last month (including high yielders) while oil was sloshing around in the 75-80 range.
| CLF10.NYM | ...Crude Oil Jan 10 | ...78.48 | ... 1.20 .......(1.6%) |
| GCZ09.CMX | ...Gold Dec 09 | ...1,194.60 | ... 13.50 ........(1.1%) |
OIL (ETF) --- 1 month
GLD (ETF) --- 1 month
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The Institute for Supply Management’s (ISM) manufacturing index fell to 53.6 in Nov, less than forecast, from a 3-year high of 55.7 in Oct (above 50 signals expansion). Growing exports & lean inventories may keep manufacturing growing into 2010. The dip is more of temporary correction rather than a sign the boom is over. Factory production which rose at the fastest pace in a quarter century in the 3 months through Sep, will probably climb at a slower pace as mounting unemployment restrains consumers. The ISM’s production index fell to 59.9 from 63.3, which was the highest level over 5 years.
•U.S. Manufacturing Expands for a Fourth Month as Factories Propel Recovery
Manufacturing Index 1 year
Production Index - 1 year
Officials from Dubai are sending out encouraging words to ease fears. Housing sales in Oct looked good, although that was expected with the looming tax credit expiring. Dow had another very excellent month ending near its 2009 high & looks like to wants to go higher.
Dow Jones REIT Index --- 1 month
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