#$sfun

...as the S&P 500 and Dow Industrials gave up earlier gains, while the Nasdaq Composite snapped its 5-day winning streak, ending narrowly lower as Biotech stocks dropped. Transports were among top losers on the day, as rails declined on weaker forecast from KSU, while airlines suffered as oil prices jumped (DJ transports drop more than 1.5%); Defensive Telecom (low yields helping) & Staples (helped by weaker dollar). Markets overseas were mixed with more gains in Asia, but Europe was mixed. The main driver remains Central Banks, as they continue to provide all out QE to stimulate their economy/weaken their currencies (or at least in the U.S., don’t raise rates despite at record lows of 6-years despite an economic improvement), which has lifted global stock markets.