The Closing Bell: Stocks Rise On Energy, Health Care Sectors As Tepid Data Cap Upside ( The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest update from IBD and Bloomberg Evening Briefing, and will be moved to the top of the Discussion /Board.)
FYI: U.S. stocks shook off some of their recent doldrums to trade higher Tuesday as energy and health care sectors buoyed the market. A resumption of U.S.-China trade negotiations also helped to reignite some optimism that the high stakes protracted dispute is coming to a close.
However, tepid housing and consumer-confidence data dragged key indexes off intraday highs.
The Dow Jones Industrial Average climbed 1140 points, or 0.
55%, and the S&P
500 added 0.72%, while the Nasdaq Composite gained 0.71% in recent trading. All three indexes remained lower than their levels a week earlier.
Technology, financial and energy stocks were driving U.S. stocks’ gains on Tuesday.
Apple AAPL +1.07% shares rose 1.3% after announcing a raft of products aimed at boosting its services revenue, including new TV and news products on Monday. Dow Jones & Co., publisher of The Wall Street Journal, has a commercial agreement to supply news services to Apple.
Banking stocks also outperformed in early trading after taking a beating late last week, with Goldman Sachs GS +0.68% rising 0.7% and JPMorgan Chase up 0.2%. Goldman’s collaboration with Apple on its new credit card adds to the recent pressure on financial-sector stocks amid ebbing market expectations of aggressive monetary policy from central banks.
Shares in energy companies helped lift the Dow industrials higher, with Exxon XOM +0.98% rising 1.3% and Chevron gaining 0.9%, as oil prices continued to rise following a difficult end to 2018. U.S. crude-oil futures rose 2% to $
59.98 a barrel in recent trading, putting its year-to-date gains at more than 30%.
The yield on 10-year U.S. Treasurys was 2.434%, up from 2.418% late Monday and on course to snap a four-day negative streak. A recent slip in 10-year U.S. Treasury yields below the level of three-month Treasury bills has been seen by some investors as foreshadowing a potential U.S. economic downturn.
Germany’s DAX index rose 0.7%, while the broader Stoxx Europe 600 index climbed 0.8%.
U.K. assets remained little changed despite lawmakers’ decision late Monday to wrest control of the Brexit process away from Prime Minister Theresa May.
The gains in Europe followed more mixed trading in Asia. Japan’s Nikkei Stock Average climbed 2.2% thanks to buoyant pharmaceuticals and transportation stocks, while mainland China stocks fell ahead of the resumption of cabinet-level trade negotiations between the U.S. and China.
All eleven of the S&P
500 Sectors led by Energy And Financials were in positive territory.
Regards
Ted
Evening Briefing:
https://www.bloomberg.com/news/articles/2019-03-26/your-evening-briefingMarketWatch:
https://www.wsj.com/articles/global-stocks-extend-rally-11553591028WSJ:
https://www.wsj.com/articles/global-stocks-extend-rally-11553591028Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-25/stocks-in-asia-look-mixed-as-yields-extend-decline-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/solid-gains-stock-market-today/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-lifted-by-gains-in-techs-energy-idUSKCN1R719CCNBC:
https://www.cnbc.com/2019/03/26/stock-market-economic-worries-take-center-stage.htmlU.K.:
Europe:
https://www.reuters.com/article/us-europe-stocks/european-stocks-claw-back-up-after-four-day-drop-idUSKCN1R70SBAsia:
https://www.marketwatch.com/story/asian-markets-mostly-gain-after-mondays-slide-2019-03-25/printBonds:
https://www.cnbc.com/2019/03/26/us-bonds-treasury-auctions-and-economic-data-in-focus.htmlCurrencies:
https://www.cnbc.com/2019/03/26/forex-market-brexit-vote-global-economic-slowdown-in-focus.htmlOil:
https://www.cnbc.com/2019/03/26/oil-market-opec-supply-cuts-us-sanctions-in-focus.htmlGold
https://www.cnbc.com/2019/03/26/gold-market-us-recession-concerns-brexit-vote-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
The Bluerock Total Income+ Real Estate Fund Announces 25th Consecutive Distribution for Q1 at a 5.25 RE: ROC
Quoting from the "Tax Flyer" from the firm shows "a hypothetical 2018 1099-DIV tax statement example* reflecting a hypothetical $10,000 investment in the TI+ Fund A shares no load at inception assuming no distribution reinvestment.
The total 2018 distribution for this investment would be approximately $633:
Ordinary Dividends of $158.64 (taxed at ordinary income rate);
LTCG of $56.95 (taxed at LTCG rate)
Non-dividend/Distribution (ROC) $417.95 deferred and converted to capital gain when shares are sold.
*Shareholder's actual 1099 Form may vary from hypothetical example depending on when shares were purchased."
I'm done with my own DD.
"Good night, Irene."
DODLX This was a private fund before it became a mutual fund (from SEC registration filing):
https://www.sec.gov/Archives/edgar/data/29440/000119312514047900/d647972d485apos.htm#toc152158_1gA private fund managed and funded by Dodge & Cox was reorganized into the Fund and the Fund commenced operations on May 1, 2014. This private fund commenced
operations on December
5, 2012, and had an investment objective and strategies that were, in all material respects, the same as those of the Fund, and was managed in a manner that, in all material respects, complied with the investment guidelines and restrictions of the Fund. However, the private fund was not registered as an investment company under the Investment Company Act of 1940 (the “1940 Act”), and therefore was not subject to certain investment limitations, diversification requirements, liquidity requirements, and other restrictions imposed by the 1940 Act and the Internal Revenue Code of 1986, which, if applicable, may have adversely affected its performance. The Fund’s performance for periods prior to the commencement of operations on May 1, 2014 is that of the private fund. The performance of the private fund has not been restated because the net total operating expense ratio of the private fund and the Fund are the same.
The Bluerock Total Income+ Real Estate Fund Announces 25th Consecutive Distribution for Q1 at a 5.25
Interval funds are the new hot thing, it seems. A bunch of real estate funds like this have opened in recent years (like 3-5 years) that are structured similarly. If they mainly hold PE or institutional stuff (or even buildings) I could see owning some as an option to something like, maybe, TREA if you have access to it. That said, if it's just holding publicly traded REITs and charging you 2.5% for the privilege, I say run fast run far since you could own the underlying positions your own for free.
DODLX It’s a relatively new global bond fund. Less than 5 year history. Like all D&C funds it has a relatively low ER (.45%). Lipper shows it about 54% U.S. & Canada. Roughly 20% Europe, 20% Latin America. While Lipper ranks it 5 in most areas, it receives a 3 for capital preservation. I’d also rate it 2 or 3 for capital preservation. It’s not hard to loose 5-10% in a fund like this during a bad year. However, since it leans heavily towards investment grade debt, it’s apt to do much better than an EM bond fund would do during severe global slumps.
Being a bond fund, interest rate changes globally affect it. (Rising rates usually result in lower bond prices.) It’s hard to get excited about this one (or any rate-sensitive bond fund) in an era of continuing low interest rates worldwide. Heard just yesterday that rates in Germany have now gone negative.
DODLX should post better long term returns than their better known domestic bond fund DODIX. The most obvious reason is that there’s more risk (hence potential reward) in international investing. The managers juice return a bit with limited exposure to EM debt (around 5-10%).
I know dividends are not paid out monthly. Paid either quarterly or semi-annually.
The Bluerock Total Income+ Real Estate Fund Announces 25th Consecutive Distribution for Q1 at a 5.25 Cursory observations:
Closed end, interval, tender date fund with repurchases done quarterly.
Four share classes: TIPRX,
5.7
5% load; TIPPX; TIPWX; TIPLX 4.2
5% load -- all with high ERs. TIPPX and TIPLX have lower minimums (Regular 2.
5K, IRA 1K)
TIPWX is the I class offered at TD but unavailable for retail investors (as one example.)
Otherwise haven't checked availability.
MFO Rating and Risk Profile is Best for all periods since inception. Rock bottom MAXDD for all periods. Underperformed S&P
500 since inception except for one-year.
Unable to determine amount of ROC from firm but prospectus notes
that all or a portion of a distribution may consist of a return of capital (i.e. from your original investment).
Shareholders should not assume that the source of a distribution from the Fund is net profit. Comprehensive Annual Report as of 12/16/18.
https://bluerockfunds.com
DODLX DODLX YTD 4.69 tonight.
PRSNX 3.35
PTIAX 2.48
Granted, not like some stock fund returns this year. I do put more weight on the fact that PTIAX and PRSNX pay monthly. It's just more convenient. Even though I'm still re-investing everything, there will come a time when I'll be using that income. The PTIAX div has become half of what it was during the easy money ZIRP years, but even so, a monthly per-share div these days of 7 cents is maybe the best I've seen anywhere. (And I got in just when the 7-cent regime took hold.)
Risk/Reward looks good to me on these three. Yes, I could get 3.5% in a 5 year CD with Navy Fed Cr Union, but rates over the intermediate and long term will go up, n'est pas? When I see a 5% or so CD, that's when I'll park money in such a vehicle.
My ethical filter has a long memory, too. I won't do business with the Big Banks that have been and continue to be pimples on the ass of progress, with no sense of right and wrong. ("The Big Short.") Credit Unions for me.
Suze Orman Says You Need $5 million To Retire — Which Is Nonsense Okay...wait...
...oh darn. I was expecting to see a pig flying outside my window
Now I don't think I need to opine what I think about people like Suze Orman. However, regardless of the dollar amounts she is quoting, I can't find fault with what she is saying at all.
Yeah, that's right. If it takes $5M, most people wouldn't be able to retire. Most people shouldn't retire unless they have that kind of money. Your Truly is never going to retire unless he is forced into it by employer or his own personal circumstance. It's not about money can't buy you happiness. It's about I'm going to freakin' try to do whatever I can to see if my kids can buy my grandkids into Harvard. I'm not ashamed to say I'm not going to hold it against either my kids or grandkids as long as they do it legally. You know why? Once someone freakin' gets into Harvard, then their progeny never has to do it again.
I stopped making plans for retirement. That Europe trip, nah...I don't even want to go anymore. You tell me I'll give you $1M and a month off I'll say, thank you for that $1M and I'll work the month, and you better make sure I earn salary for that month.
I'm really like a robot right now. As long as my battery holds charge, I'll keep working. I don't need a vacation (or maybe it's because I return more tired from vacation than before I left for vacation). I don't need to re-charge my batteries. I've given myself a psychological lobotomy so I don't have to worry about getting depressed. More importantly, I've finally found a way - literally 3 or 4 weeks back - to not give a FF about anyone, to feel insulted, or humiliated, or threatened, or anything. I just do what I have to do and not just for as long as I need to, but forever.
Suze Orman, I'll tell you when I have $5M dollars. Don't you die before I get there. Not because I can tell you I can retire. No. To tell YOU to retire.
Barry Ritholtz: Failure To Increase The Gas Tax Signals American Decline >> refuse to drive it until our roads are repaired
I'd never leave the house
You have
no idea how bad ours are. Fortunately, got an old pickup here. But the whole thing sucks. 8.
5 Bil for
“A great big beautiful wall ...” - Not a penny for fixing the roads.
Suze Orman Says You Need $5 million To Retire — Which Is Nonsense The POINT was retiring in your mid-thirty's with no further earned income. That's a long way from 85 minus "several years". If you had retired with no income when you were 35 how exactly would you now have a home with no mortgage?
