Dollar Up, Gold Down, While ETFs Reflect Activity
The U.S. dollar is toughening up, much to the dismay of gold which hit a three-month low on Tuesday, weakening the focused stocks and exchange traded funds (ETFs).
Also on the decline were oil prices along with weak sentiment just ahead of the Federal Reserve’s big meeting today. U.S. gold futures for June delivery on the COMEX division of the New York mercantile exchange settled at $876.80 an ounce, as of Tuesday. As the dollar gains strength, it makes gold more expensive for holders of other currencies, thus lowering demand.
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The biotechnology sector suffered after a Genetech Inc. (DNA) study regarding treatment of Lupus failed, letting down related exchange traded funds (ETFs).
It was a Fed day classic. Punters buy, buy, buy just before and immediately after the release of the FOMC policy statement, hoping for some kind of surprise (or surprise reaction) that will spark a rally. Then when the smoke clears to reveal that nothing at all has changed - except that the market is still overbought - buyers disappear like ghosts, and Kenny Rogers k…
The markets were a little sunnier this month, improving on the gains they had made in March, and most exchange traded funds (ETFs) finished in brighter territory. That’s despite bad news about consumer confidence, plummeting housing prices and slower existing home sales. The Federal Reserve capped off April by making its seventh rate cut, then indicated that would be all for the time being.
Exchange traded funds (ETFs) and the markets waited with optimism for the Federal Reserve’s rate cut today, which was the quarter point that had been expected.
Collective sigh of relief now that the Fed uncertainty is behind us…..with limited commercials.Forgot to note today’s high profile earnings name, FSLR.Pretty muted reaction, continuing the recent trend of nothing cosmic. You had a decent range counting the pre-open when it was down 10. But that was really pre-open as they had a conference call at 8 AM so tough time even if you had ammo to really load up and roll the dice. Looks like another win if you closed your eyes and sold some strangles….
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- which shows the relationship between Target and Wal-Mart stock - tells a rather interesting story about consumer spending. As the economic recovery in 2003 ensued Targets stock lifted while Wal-Mart stock actually drifted lower. However since the credit crunch showed up on the economic radar Targets stock took a tumble and Wal-Mart stock has caught a bid. Why the disparity? Is it just because Wal-Mart has suffered from bad PR over the years and maybe now folks have finally forgotten about all that?
A reader wrote in recently wanting to know more about BRIC and the related exchange traded funds (ETFs). We’re here to help!
There are several places on the web where you can watch a short time-lapse video that shows the recent history of the yield curve. One of those places is Fidelity’s Historical Yield Curve page. In reviewing the history of the yield curve on the Fidelity site, I was surprised to see that the current yield curve is almost identical to the yield curve as it stood on May 2003. …
Got some questions about the VIX? Bill at VIX and More gives us 10 Things Everyone Should Know About the VIX.Such as…
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