Dow was off 100, decliners over advancers about 3-2 & NAZ dropped 99.  The MLP index sold off 5+ to the 218s & the REIT fell 1+ to 380.  Junk bond funds inched higher& Treasuries index saw buying, bringing higher yields (more below).  Oil sank 4+ to the 75s (a low for 2022) & gold declined 17 to 1737.

AMJ (Alerian MLP index tracking fund)

An often-overlooked economic gauge indicated that the US economy is headed for a recession, already in one, as the Federal Reserve

TROUBLING TREND: Often-overlooked economic gauge says US is headed for recession

Bob Iger has returned as chief exec of Disney (DIS), a Dow stock, after less than a year in retirement & shares soared.   The board announced Iger's stunning return yesterday & said Bob Chapek, who succeeded Iger in 2020, had stepped down from the position.  "The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period," board Chair Susan Arnold said.  Iger was CEO from 2005 to 2020, then served as the company's exec chair thru 2021 before retiring.  Iger will now return as CEO for 2 years.  "We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic," Arnold said.  Iger said he was "optomistic" about DIS's future & "thrilled" to be back as CEO.  The stock jumped 6.35 (7%).
If you would like to learn more about DIS, click on this link:
club.ino.com/trend/analysis/stock/DIS?a_aid=CD3289&a_bid=6ae5b6f7

Bob Iger returns as Disney CEO after less than a year in retirement

10-year Treasury was trading at 3.786%, down about 3 basis points & the 2-year Treasury  yield was last up by less than one basis point at 4.514%.  Yields & prices move in opposite directions & one basis point is worth 0.01%.  Uncertainty about future interest rate hikes continued after Fed speakers last week suggested that a pause to them was not imminent, after economic data suggested to investors that inflation was easing.  Many investors had therefore hoped the Fed would slow or pause rate hikes, as concerns about a recession have spread.  Speaking at the Southern Economic Association over the weekend, Atlanta Fed Pres Raphael Bostic said rates would likely have to go higher still, but he was prepared to “move away” from implementing 75 basis point rate hikes in favor of smaller ones.

Treasury yields slip as traders assess inflation outlook and Fed policy plans

Dow Jones Industrials