Another good week in the stock markets, with generally positive earnings and economic data, and the major indexes reacted by reaching new post-Lehman highs. Apple led with its blowout earnings report, and even the SEC’s accusations against Goldman couldn’t deter the bulls. Among S&P sectors, energy and utilities were the leaders, while health care was the laggard. US stocks are among the global leaders, as developed Europe and Asia, and most emerging markets, are not quite keeping up the pace.
Real estate trusts followed equities higher, while bonds, the Dollar, gold, and most commodity groups moved sideways. It’s worth noting that the agricultural commodities are starting to show some price strength in the futures market, and the Powershares Ag ETF (Ticker: DBA) printed a series of up days, though it fell back on Friday. This is one worth watching for a possible new long position. Overall though, not much has changed, and I see no reason to make any major portfolio moves now.