So far in 2010 one of the worst-performing sectors has been alternative energy, with some ETFs on pace to post double digit losses in the first quarter. This sharp downturn is due to a variety of factors that have combined to yield one of the worst stretches for the industry in recent memory. First, trouble in Europe has led to a strengthening of the dollar, which has helped to keep crude oil prices in check (until recently at least). With oil below $80 for most of the early part of the year, cries for development of alternative energy sources have been quieted. Furthermore, large budget deficits in many developed markets have forced some governments to drastically scale back solar and wind power subsidies to plug budget holes. Spain and Germany, two of the largest alternative energy producers in the world, have either cut or are planning to severely cut subsides for alternative fuels; in Germany subsidies are predicted to fall by as much as 15% this year. [click to continue…]
ETFs started February on a down note, with most equities slumping to finish the week. The euro sank to a new eight-month low against the dollar as sovereign debt concerns, specifically from Greece, continue to hang over the economic bloc. Meanwhile in the U.S., the unemployment rate unexpectedly fell to 9.7% despite losing 20,000 jobs in January. Below, we offer our picks for the week’s most important and interesting ETF stories from around the Web: [click to continue…]
After surging out of the gates to start the new year, many ETFs have sharply reversed course, now finding themselves in the red for 2010 as January draws to a close. The S&P 500 SPDR (SPY), which was up nearly 3% after the first six trading sessions, is now down almost 2%. The shift in [...]
Over the past two years, the primary focus of world leaders has been the series of economic crises that have threatened to erase years of progress and growth. With all available resources dedicated towards avoiding a prolonged downturn, many social and environmental issues have been moved to the back burner. Now, with a seemingly stable [...]
It’s been an interesting week in the world of ETFs: U.S. unemployment hit 10.2%, the highest since 1983, while gold traded around $1100/oz. Here are the ETF Database staff picks of the week’s most important and interesting stories from around the Web:
On Thursday and Friday, the leaders of 19 of the most powerful nations, as well as the leader of the European Union, will meet in the Steel City to discuss a variety of topics ranging from economic integration to energy policy. Pittsburgh was chosen to highlight the dramatic shift in fortunes following the city’s struggles [...]
