[Chart courtesy of MarketWatch.com] U.S. stocks ended lower Monday despite the service-sector gauge advancing in February. The Institute for Supply Management’s non-manufacturing index came in better-than-expected. However, its employment index dropped, while the inflation-measuring price index jumped in January. Not helping the markets were the Chinese lowest growth target in eight years for 2012 and a survey that showed a …
Major Market ETFs Open Month Higher
[Chart courtesy of MarketWatch.com] Stocks closed higher Thursday as investors weighed improved reading on the jobs front against slightly disappointing construction spending and manufacturing data. According to the Labor Department, the number of Americans filing first-time claims for unemployment benefits dropped 2,000 to 351,000 last week, the lowest since March 2008. Four-week average now stands lower by 5,500 at 354,000, …
U.S. Stock Indexes Slide, UUP Gains, GLD Loses Shine
[Chart courtesy of MarketWatch.com] U.S. indexes reversed Tuesday’s gains after Fed Chairman Ben Bernanke hinted at stopping further liquidity expansion measures today. In other words, he took the punch bowl away for the time being by showing no monetary exuberance. In a testimony before the Congress that started at 10 a.m. Wednesday, Bernanke said though continuing with liquidity enhancing measures …
U.S. Stocks Rise With Consumer Confidence, UNG Dips With Oil, SLV Zooms
[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 …