Dow dropped 239, decliners modestly ahead of advancers & NAZ retreated 57. The MLP index was off 1+ to the 285s & the REIT index went up 2+ to the 381s. Junk bond funds were little changed & Treasuries had buying which lowered yields after their recent rally to 4 month highs. Oil slid back to the 85s & gold shot up another 17 to 2368 for a new record.
AMJ (Alerian MLP Index tracking fund)
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Small business optimism dips to lowest level in over a decade
The process of removing shipping containers from the 984-foot-long Dali
has begun, but it is expected to take weeks to complete the job, tow
the listing ship, & get the Port of Baltimore reopened for marine
traffic after the bride collapse which occurred on Mar 26. 7
containers have been removed since Unified Command started the process
on Sun to clear up the canal & ultimately reopen for container
traffic, a spokesperson for the Key Bridge Response 2024 Joint
Information Center said. The initial goal is to remove 10-12
containers to create a safe working area for the crews involved in
recovery efforts for missing workers & removal of debris. The
containers that are being removed are leaning over on the port side of
the Dali's bow & pose a risk to crews working in the area. Unified
Command is comprised of Synergy Marine, the management company of the
Dali, the Coast Guard, Army Corps of Engineers, Maryland
Dept of the Environment, Maryland Transportation Authority &
Maryland State Police. Approximately 140 containers in all are
expected to be removed to lighten the Dali so the grounded vessel can be
refloated & moved by tugs. It is expected to take approximately 2
weeks to unload all of the containers. The first 7 containers
were on a single barge & taken to Sparrows Point, the former site of a
large industrial complex owned by Bethlehem Steel. Sparrows Point is a
3100 acre peninsula reaching into Baltimore Harbor. The JIC said the
containers will stay at Sparrows Point until “further disposition is
approved and coordinated.”
Dali container removal will take weeks, a key to Port of Baltimore reopening
Pfizer’s RSV vaccine shows potential to protect high-risk adults ages 18-59
Strong economic data is not reaching small business owners. That's very disappointing. Among other problems, inflation is a nagging problem. Tomorrow the CPI data will be watched by just about everybody.
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