Market Wrap-Up for Mar.8 (MET, MCD, X, GS, V, BTU, more)

in Gold Gold Investment by admin — March 8, 2010 2:11 pm | no comments

We continued to see some of the high-beta (tech, commodities) areas of the market lead the action. We are monitoring the overbought nature of certain sectors and are not of the mindset to chase the move. As we mentioned last week, we may have been a bit too cautious on the growth side (low-dividend yielding plays for the most part), but we are getting good price movement from our “recommended list” with numerous companies bumping up dividend payouts as well. Today’s market action finished a bit mixed. Metlife ( MET ) was up on news the company is acquiring a division of AIG. McDonald’s ( MCD ) was also up on the back of solid February sales. Volume was a touch lighter as we finished with 3.77 Billion shares on the NYSE and 2.12 Billion shares on the NASDAQ. Positive Wall Street chatter is helped lift shares of Sempra Energy ( SRE ) and U.S. Steel ( X ) . There is momentum in financial shares, with buying in Goldman Sachs ( GS ) , Visa ( V ) , and Mastercard ( MA ) . Coal-related names dipped a bit, with Consol Energy ( CNX ) and Peabody Energy ( BTU ) trading lower. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .