[Chart courtesy of MarketWatch.com] Soaring consumer confidence and falling oil prices triggered a rally in US stocks as the Dow Jones Industrial Average closed over the psychologically important 13,000 mark for the first time since May ’08. The DJIA ended at 13,005.12, a gain of 0.2 percent, while the S&P 500 added 0.3 percent to close at 1,372.18, its highest …
A Week Of Small Gains For the Major Market ETFs — Lofty Levels May Cause More Volatility
Wall Street witnessed another week of volatile trading though US stock indexes made weekly gains on Friday and the S&P 500 Index closed at its highest level since June 2008 after consumer confidence and home sales reports topped expectations. The earnings season is drawing to a close and markets next week will probably be more macro-economic news driven. So far …
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 …
Getting High On Silver ETFs
Silver ETFs have been the hot ticket item outperforming just about any other investment with put and call options setting a single-day volume record yesterday, according the WSJ (subscription required): Silver stole the show in the options market Monday, as traders hoping to profit from the metal’s gains helped set a new single-day volume record in “puts” and “calls” for …