Dave's Daily
By Dave Fry, founder and publisher of ETF Digest and author of the best-selling book Create Your Own ETF Hedge Fund. March 11, 2010
CITIGROUP LEADS BULL CHARGE
A little hint Thursday from Citigroup's CEO Vikram Pandit of "slight growth" in 2010 year set bulls to a buying panic. Citigroup's stock accounted for one quarter of volume on the NYSE on Thursday said some reports. This took stocks out of a becalmed state and sent indexes soaring into the close.
Bulls brushed off employment data showing high continuing claims and worries about inflation in China.
Also in a period when future interest rate increases are assumed a given, the US Treasury sold 30-year bonds at auction today and met high demand. Did you want some? You go first.
Volume was light even with Citigroup's 1 billion shares traded. Breadth was again positive per the WSJ.
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,598.55 | 1,324.80 | 2,874.04 | 17.65 |
Oil *
111.71
|
|
DOWN
33.45 |
DOWN
5.86 |
DOWN
19.72 |
DOWN
0.12 |
10 Yr
1.76%
SPDR Gold
149.46
|
|
-0.26%
|
-0.44%
|
-0.68%
|
-0.68%
|
Data delayed 20 minutes |
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