Domestic equity markets started off the week on a strong note as investors were optimistic to see a very strong start to the holiday shopping seasons, showcasing that U.S. consumers are still alive and kicking. Euphoria swept over stocks on Wednesday after the Fed and the central banks of the euro area, Canada, Japan, U.K., and Switzerland all agreed to reduce the cost of offering dollar financing through swaps. The collective central bank effort was aimed at improving liquidity and more indirectly restoring confidence back in the markets by proving to investors that policymakers are in fact recognizing the issues and actively combating them. Optimism across equity markets spurred a rally in gold, with futures prices for the precious yellow metal settling near $1,750 as the trading session drew to a close.
Checking In: Trading Ideas
This week, our technical trading ideas included long recommendations in a domestic sector ETF and an emerging market fund as well as a long position in a unique fixed income offering. Below, we highlight how our trade recommendations from Monday’s Insider have been holding up this week:
Trading Idea #1: Long XLV
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