Markets June 30

[rtsm]

The Baltic Dry Index lost a modest 10 points in its last trading session to close at 9,589 and has comeback in recent trading, showing a 4.1% gain from the prior week. The Capesize has performed well recently alongside the Baltic, rising 42 points in the last session to 13,978, while the Panamax, the benchmark index, fell modestly, losing 42 points to 9,627. The Supramax fell 35 points to 5,843, while the Handysize shed 10 points to 2,713. The Supramax and Handysize are the only indices lower from the prior week, with 5.8% and 2.5% losses, respectively.

[lamborghini]

Today, stocks pulled back in the early going as oil reached yet another record, this time, above $143 a barrel. The major averages then gathered some strength as crude lost momentum and Chicago PMI report posted good numbers. PMI came in at 49.6 versus 48.0 consensus, but that didn't help the month of June putting together the worst monthly performance in several years. At the end of session, financials closed down more than 2% while the broader market closed with a modest gain. Utilities (+2.3%) and telecom (+3.2%) were the session's best performing sectors.

Since their high point last October, the Dow has given up almost 20%, the S&P dropped 18 and the Nasdaq is down 19.80 percent.

The Chicago Board Options Exchange's volatility index, or the VIX, has risen in recent weeks but stands only at about 24, well below the high of nearly 38 it logged earlier this year.

[ron]

gang, despite headlines from the financial press...don't let last week's mrkt fluctuation with its downside tendencies convince you, as the start of a major bear market.... that is simply not true and unrealistic.....we are currently oversold and due for an upward bounce. The economy, though slow is still growing and picking up steam as we move into 3rd and 4th q.

[lamborghini]

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