[Chart courtesy of MarketWatch.com] Strong economic data drove US equities higher today paring yesterday’s losses with the S&P climbing to a near ten-month high. Major indexes are already in the green on the week after investors were greeted with better-than-expected unemployment data on Thursday. A strong report on German economic outlook boosted sentiments further. The stock markets have performed well …
Major Market ETFs Drift Sideways, Gold Gains Again As Yellow Metal Inches Towards $1,800
[Chart courtesy of MarketWatch.com] US equity indexes ended the day lower as markets took a break on Wednesday after rallying for three sessions amid fears about global recovery and the sustainability of Greek measures in the mid-term. There has been much chatter about a possible contagion in the short-term when the Greek crisis had broken out. This hypothesis has become …
Equity ETFs Remain Flat After Greek Deal, XHB Slips, GLD Glitters
[Chart courtesy of MarketWatch.com] The Greek torment finally ended (I hope) as Eurogroup Finance Ministers agreed to a long-awaited €130 billion second bailout package early on Tuesday. The final deal arm-twisted the private holders of Greek debt to accept even higher losses than they had agreed to last month. European officials now say that private lenders, led by banks and …
Major Market ETFs Rally Following Greece’s Vote
[Chart courtesy of MarketWatch.com] The major market indexes retraced Friday’s sell off, and then some, as Greece’s parliament voted in favor of strict financial reforms in order to receive the latest bailout package of at least $130 billion Euros. Athens burned for most of the night as protestors rioted and questioned the wisdom of having to endure more hardship after …
Battle Of The Titans: Soros Sells Gold ETF While Paulson Buys – Who’s Right?
The IB Times had this to say on the apparently opposing views of the sale and purchase of the Gold ETF (GLD) by Soros and Paulson: The confirmation of George Soros ETF gold sale has again garnered much media comment. Soros’ $28 billion fund decreased its holdings of the SPDR Gold Trust, the exchange traded fund. Soros had bought gold …
Oil ETFs Suffer From Demand Fear
Crude oil took a steep dive today and closed below the $100 level for the first time since the middle of March. USO, the ETF equivalent, lost 9.11% for the day. The entire commodity index followed suit with DBC dropping 6.7%, while gold (GLD) and silver (SLV) gave back 2.88% and 11.89% respectively. The dollar was the beneficiary and gained …