The Dividend Daily

The market is learning to like Mondays, with another triple-digit gain for the second week in a row.

As for today’s action, commodity stocks were certainly enjoying the economic rebound and prosperity chatter. Stocks like BHP Billiton (BHP), U.S. Steel (X) and Rio Tinto (RTP) were big movers to the upside. Gold (GLD), Oil (USO), as well as Treasuries (TLT) were all up strongly. Volume finished better than we have seen in a while with 4.56 Billion shares traded on the NYSE and over 2.06 Billion shares traded on the NASDAQ.

We also saw strength in other areas of the market. Some of better performing names included Eaton Corp (ETN), Blackrock (BLK), Boeing (BA), and Emerson Electric (EMR). Bristol Myers (BMY) had a big day on news it will spin out the rest of its Mead Johnson Nutrition (MJN) holdings. Lowe’s (LOW) shares finished slightly lower following the company’s earnings results. Financials were somewhat laggards today, with State Street (STT) and Northern Trust (NTRS).

The “weak dollar trade” has taken Wall Street by storm, as Gold prices continue to set new highs. This has us a bit concerned and not pushing us to get too giddy at the moment. We also know and believe there is an element of concern for Wall Street to move up and away from the Dow 10K levels, which we are certainly seeing. The market at the moment seems to be disconnected from the economic reality of Main Street U.S.A. We certainly understand the mechanics of the market is looking ahead to recovery, but we may have priced in a good portion of that already plus.

We are continuing to evaluate dividend stock opportunities each day and will certainly let subscribers know when we make any changes.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.