Today in the market, Wednesday, September 10, 2008: Stocks closed higher on Wednesday as OPEC's move to shore up oil prices boosted energy shares and Texas Instruments' outlook soothed fears about technology spending.
The outlook for the energy and technology sectors offset some of the market's anxiety about the banking sector, which on Tuesday caused the S&P 500 to post its biggest decline of the year.
Based on the latest available data, the Dow Jones industrial average ended with gains of 36.72 points, or 0.33 percent, at 11,267.45, while the Standard & Poor's 500 Index rose 7.32 points, or 0.60 percent, to 1,231.83. The Nasdaq Composite Index gained 18.89 points, or 0.85 percent, at 2,228.70. (Courtesy of Reuters)
ETF/CEF Medium Volatility:
- DIA - Diamonds
- RTU - Cohen & Steers REIT and Utility Income Fund
ETF/CEF Discussion: Yesterday was a dismal day in the stock market and RSI, on that occasion, had no picks. Today is a different story as RSI picked two rather conservative funds, one ETF and one CEF. Both look interesting is you believe in their respective sector returns to former levels. The chart shows an interesting similarity in their price history. And RTU pays a hefty yield of 11.96%. DIA pays a modest 2.64 %.
Still on travel and hope to catch you tomorrow.