Hopes On Stimulus Package Fade
By:
Avi Thursday, February 12, 2009 11:59 AM
The slide in world markets over night continued in the US. Dow fell 147, decliners over advancers 4-1 & NAZ dropped 13. Banks & oils (the oil contract sank to another low) led the way down.
S&P 500 FINANCIALS INDEX in the first hour of trading gave up yesterday's gains:
Value
118.42 |
Change
-6.39 |
% Change
-5.1% |
Oil still can't get no respect as worries about the global recession dragging on, dominate thinking.
| CLH09.NYM |
...Crude Oil Mar 09 |
....34.66 |
... 1.28
.......(3.6%) |
|
The Alerian MLP index went up 1, taking it into the 200s. MLPs are not giving up ground. In contrast, the Dow Jones REIT Index fell 6 to 114. Junk bonds slipped after a nice run this year. VIX rose 2 to the 46s on the worries about the cost of the stimulus package.
The yield on the US Treasury 10 year bond has been volatile in 2009.
The above story is the opinion of the author only and it does not reflect
iStockAnalyst opinion. Further, the author is not personally advising you
regarding the suitability of the story for your investment needs. In no event
iStockAnalyst will be liable for any loss or damage including without
limitation, indirect or consequential loss or damage, or any loss or damage
whatsoever arising from or arising out of, or in connection with the use of this
information. Please consult your investment advisor before making any investment
decision.
