Dow Post 107 Point Gain

It was a beautiful morning on Wall Street as investors reacted very positively to news about strong February payroll growth, which points to businesses believing the economy is strong and growing. The Dow closed up over 107 points. The Treasuries also went lower today as investors see the inflationary threat as mild, and not a major risk to economic growth. All of the four major indexes moved toward four year highs also.




Wiser Money is also recommending investors consider an investment into New Century Financial Mortgage Corportation (Ticker="NEW"). This morning we moved a portion of our portfolio into this stock, which is a Real Estate Investment Trust. The company has good growth prospects, and its stock is trading off its 52-week high of $66.95 to $53.03. What attracted us most to this stock was its 11.81% dividend yield at current prices. The company pays $6.20 dividend per share, and is a dominant player in the subprime lending markets, the fastest growing segment of the mortgage lending market.

New Century Market Quote