Analysts were ready to get back to work this morning following last week's selling.
We were greeted by upgrades on Goldman Sachs ( GS
Commodity-related plays were seeing nice gains from Freeport McMoran ( FCX ) , U.S. Steel ( X ) , and BHP Billiton ( BHP ) , but those gains slipped some in the afternoon. Gold prices ( GLD ) pulled back and are continuing to settle off recent highs. Analysts continue to try and question whether higher gold prices are actually a good thing for the markets. Why is that? It could possibly mean we are fighting off deflation, which is becoming more and more of an economist's worst nightmare. Elsewhere, selling intensified in dividend growth plays such as Coach ( COH ) , Mastercard ( MA ) , and Cliff's Natural Resources ( CLF ) with all three closing in the red.
We continue to hear about record-low interest rates for homebuyers, but one thing that is not talked about so much is the inability for homeowners that are in their current homes to be able to refinance without clearing numerous contingencies - the biggest of which is the falling comps for home prices. Banks will not "sharpen their pencils" to refinance home loans if there is a fear of home prices continuing to decline.
We will keep subscribers updated as to further changes we see a need to make with our Best Dividend Stocks list.
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