Major Market ETFs Extend Losses On Global Growth Worries; VXX Climbs, TVIX Sinks Deep

Ulli Market Review Contact

US stocks ended lower Thursday as global growth worries soured investor sentiments with the S&P declining for the third consecutive session. The ever so positive analysts, however, said the markets are taking a breather after recoding double-digit growths in the first quarter.

Treasuries extended gains for the third day after reports showed euro-region output and China’s manufacturing weakened, boosting US debt’s demand.

The Dow Jones Industrial Average (DJIA) lost 0.6 percent to settle at 13,046.14. Only eight of the 30-component Dow ended higher with commodities and heavy-equipment manufacturers dropping the most on weak manufacturing data in China and Europe.

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US Broad Market ETFs Slide For The Second Day; GAZ Inches Up, KWT Sinks

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[Chart courtesy of MarketWatch.com]

US broad stock ETFs closed mixed Wednesday after data on new home sales came in lower unexpectedly, failing to cheer investors. 10-year Treasury notes jumped the most in two weeks even as the Federal Reserve bought $4.03 billion in US debt.

The S&P 500 Index (SPX) slipped or 0.2 percent to close at 1402.89 with the energy sector dropping the most. The sector witnessed a sell-off with Baker Hughes dropping sharply.

S&P’s losses were limited as consumer discretionary and consumer staples stocks moved higher against the general downward movement. The tech-laden NASDAQ Composite (COMP) defied gravity by adding 0.9 percent to close at 3,075.32.

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7 ETF Model Portfolios You Can Use – Updated through 3/20/2012

Ulli Model ETF Portfolios Contact

The milestones of the major indexes, which I talked about last week, are in the rear view mirror now, and the question remains as to how high we can go.

Since last week’s ETF Model Portfolio post, the S&P 500 has added some 0.7% to settle at 1,406, although the fly in the ointment has been low volume. Reaching a 4-year high may have caused some investor hesitancy, as we are hovering at very lofty levels.

Take a look at the latest ETF Model Portfolio update:

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Major Market ETFs Fall On China Growth Worries; XRT Rises, GAZ Drops

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US stocks retreated Tuesday as China growth worries overpowered upbeat US housing market data. The pullback wasn’t surprising to me; actually it was long overdue, as the indexes had been inching towards historic highs with consecutive gains in the last few sessions.

Today’s (minor) sell off was triggered by falling commodity prices over Chinese growth worries. Copper prices sank 2 percent while oil dropped 2.3 percent on the day.  Treasuries moved up, snapping a nine-day losing streak and pushing down 10-year yields from near four-month highs.

The Dow Jones Industrial Average (DJIA) shed 0.5 percent while the S&P 500 Index (SPX) dropped 0.3 percent, after jumping to a 52-week high yesterday. Industrial and energy stocks fared the worst while financials advanced the most among the 10-sector index.

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Equity ETF Indexes Advance; GAZ On Fire, VXX Sinks

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US stocks continued their advancement Monday, as modest homebuilder’s data indicated the sector’s gradual recovery ahead of other housing-related data this week.

The gains were supported by Apple’s hefty dividend announcement and $10 billion share buy-back program over the next three years. Tech stocks advanced the most though some of the heavyweights retreated. US 10-year notes tanked for the ninth consecutive day, as risk sentiments improved and investors dumped Treasuries for more risky assets.

The Dow Jones Industrial Average (DJIA) climbed 0.04 percent to 13,238.98. Technology, financials and energy stocks led the day’s gainers. The Dow reversed the day’s early losses after Wells Fargo and National Association of Home Builders said their builders’ sentiment index remained near their five-year high. 18 of the 30-component Dow advanced for the day.

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Traveling

Ulli Uncategorized Contact

Today’s market commentary will appear later than planned, as I am traveling for most of the afternoon and evening. I hope to have it posted by about midnight PST.