Markets Meander, Looking For Direction
By:
Avi Thursday, March 19, 2009 12:00 PM
After excitement by the Federal Reserve yesterday, markets are trying to figure out which way to go. Dow slipped 24, advancers over decliners 3-2 while NAZ is even (lingering effects from the Sun buyout has to be helping).
S&P 500 FINANCIALS INDEX is giving back some of the recent gains in this confusing market.
Value
122.07 |
Change
-3.94 |
% Change
-3.7% |
Alerian MLP Index is up 2 to 194. REITs are down & junk bonds funds have modest gains.
Oil shot up on the FED's announcement about buying bonds. The $ is very weak & gold is strong, its flight to safety quality is attracting buyers.
| CLJ09.NYM |
...Crude Oil Apr 09 |
...51.35 |
... 3.21
.......(6.7%) |
|
| ZGH09.CBT |
..Gold 100 oz. Mar 09 |
..933.00 |
.. 43.50
....(4.9%) |
|
The weekly data on unemployment continues grim. Last week, 646K filed for unemployment (down slightly from the prior week). The number drawing unemployment surged 185K to almost 5½M (as of the prior week), the highest number on record.
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.
