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Stocks Rise To New High As Fed Signals It Is In No Hurry To End Quantitative Easing 2

Financial Market Report for April 26, 2011

1) … Stocks soared to new highs
as the Federal Reserve kicked off a two-day meeting on Tuesday that will probably show that it is in no hurry to scale back purchases of Treasuries. Did the world achieve peak stock wealth today? ACWI, and VT, closed at new rally highs. Stocks rising today included
Water, FIW 2.3
Small Cap Industrial, PSCI 2.2
Semiconductor, XSD 2.0
Transportation, IYT 1.9
Wood And Paper Production, WOOD 1.8
Small Cap Health, PSCH 1.7
Industrial, IYJ 1.7
Small Cap Value, RZV 1.5
Small Cap Technology, PSCT 1.5
Biotechnology, IBB 1.5
Apple Phone Ecosystem, FONE 1.5
Enviornmental, EVX 1.5
Small Cap Growth, RZG 1.4
Telecommunications, VOX 1.4
Small Cap Revenue, RWJ 1.4
Regional Banks, KRE 1.3
Biotechnology, XBI 1.2
Small Cap Consumer Discretionary, PSCD 1.2

Utilities, XLU rose 0.8, on falling interest rates, $TNX, and a rising Euro, FXE.  The US Dollar, $USD, closed at 73.77 in a hammer

Morgan Stanley Cyclical Index, $CYC, 1.4, S&P, SPY, 0.8, Dow, DIA, 0.9, Russell 2000 Growth, IWO, 0.7, Morningstar Mid Growth, JHK, 0.4

2) … Currencies rose strongly today
New Zealand Dollar, BNZ, causing New Zealand, ENZL, to rise
South African Rand, SZR, causing South Africa, EZA, to rise
New Zealand Dollar, FXA, causing the Australian Small Caps, KROO, and Australia, EWA, to rise
Swiss Franc, FXF, causing Switzerland, EWL, to rise
Mexico Peso, FXM, causing  Mexico, EWW, to rise  
The Euro, FXE, causing Europe, VGK, to rise.

3) … Has the world reached peak debt? Junk Bonds, JNK, rose to a new rally high.
My Budget 360 writes: The financial tipping point of peak debt

4) … Joe Weisenthal of Business Insider provides the Case-Shiller Survey February 20-city composite index chart which shows home prices fell 3.3% from a year ago


5) ,... Charts of Interest
ALU



XOM Exxon Mobil

IBM



F Ford


UTX United Technologies




VT:DJP Stocks relative to commodities have likely topped out once again



DBV World major currencies have likely topped out



BWX World Government Bonds have likely topped out



PICB International Corporate Bonds have likely topped out



IYT, Transportation


6) In today’s news

Between The Hedges reports The Greece, Ireland and Portugal sovereign cds are now all at new record highs

Mike Mish Shedlock provides the quote of Clyde "Fiat currencies don't float, they sink at varying rates."