Equity markets trended higher to finish up the week with most benchmarks in positive territory. This push higher was in spite of an increase in the trade deficit, and fueled by positive earnings reports from major clothing retailers and Dow component Disney. The ETFdb 60 Index, a benchmark of the universe of investable assets available through ETFs, gained 6.65 points, or 0.7%, to close at 1,014.45.
The iShares MSCI Brazil Index Fund (EWZ) was up nearly 2% today as it gained back most of Thursday’s losses as the real strentghed by 1% against the dollar. Brazil ETFs have been volatile in recent sessions, as EWZ dropped more than 3% on Thursday. The Market Vectors Brazil Small-Cap ETF (BRF) finished the week by gaining about 2.4%.
Meanwhile, the Market Vectors Total Return Gold Miners ETF (GDX) jumped 2.8% as the price of gold shot up more than $12/oz. to finish the trading day above $1118/oz. As gold prices have continued to climb higher, they have taken gold miner stocks along for the ride. Since the beginning of 2009, GLD has gained about 27%, while GDX is up about 47% over the same period. ETFdb Pro members can read more in our Precious Metals ETFdb Category Report (if you’re not a Pro member, you can sign up for a free trial or read more here).
The PowerShares DB USD Index Bullish Fund (UUP) retreated more than 2% on Friday as the dollar continued its downward spiral. UUP is based on an index that takes a long position in USDX futures contracts, offering exposure to the U.S. dollar relative to a basket of developed market currencies. Near zero interest rates and concerns about its future as a reserve currency have weighed on the dollar in recent months, and UUP has lost almost 9.4% for the year.
Disclosure: No positions at time of writing.