Market Wrap-Up for May 13 (MA, V, KBH, X, TGT, JCP, more)

Filed in dividend, economy, Gold, Gold Investing, lead, shares by on May 13, 2010 0 Comments

We are paying attention to several things going on in and around the market currently. The headlines of a wider investigation into more banks from transactions that occurred in the run-up to the subprime mortgage meltdown and financial crisis are definitely one of the big topics to monitor. In the end, there will be settlements, fines paid, and business will go on. But, the bigger concern we may be facing is the continued rise of U.S. home foreclosures. Realty Trac, Inc. just reported bank repossessions are up 45 percent from a year earlier. They also believe 5 million delinquent loans will probably end up in the foreclosure process in addition to the 1.2 million homes already taken back by lenders. Now this is a bigger issue for the banks and almost certainly for the economy. Despite the clear evidence of this data, market pundits continue to raise their pom-poms to any little evidence of economic strength. We love the idea of being optimisitic, but there is a bit too much complacency going on with the “it’s all going to be fine” approach. At some point, the numbers will have to improve, but in the meantime, the landmines continue to be scattered all around us in the investing world. We will keep our focus on avoiding the dangers ahead, and continue to position the “Best Dividend Stocks” list as best we can. As for today’s action, markets were mixed early, but sellers showed up late to sink the shares. There are some names standing out so far. Mastercard ( MA ) and Visa ( V ) were having a decent day, along with U.S. Steel ( X ) , which was up on the back of positive Wall Street chatter, but they finished off their intraday highs. Retailers lagged the action, with J.C. Penney ( JCP ) and Target ( TGT ) leading the way lower. They were likely down in correlation with the mixed results out of competitor Kohl’s ( KSS ). Homebuilders were weak, with KB Home ( KBH ) leading the way 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 .

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Market Wrap-Up for May 13 (MA, V, KBH, X, TGT, JCP, more)

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