ETFs trended higher this week but finished flat on Friday as the markets digested conflicting data reports. This came after retail sales rose by 0.3% but the consumer sentiment index headed lower, leaving investors to wonder which direction the American consumer will take the economy. In other news, Obama is set to nominate Janet Yellen, the San Francisco Fed President, for the role of vice-chairman of the Federal Reserve. The move for Yellen is seen as an attempt to tilt the Fed in a more dovish direction. Below, we offer our picks for the week’s most important and interesting ETF stories from around the Web: [click to continue…]
Perhaps no exchange-traded product listed in the U.S. has seen the level of investor interest or been the subject of as much controversy as the United States Natural Gas Fund (UNG). UNG was launched in April 2007, and the fund was moderately successful during its first 18 months, growing to more than $700 million in assets at the end of 2008. But the success to that point was nothing compared to what lay ahead for the natural gas fund. Prices plunged as the double whammy of massive new discoveries and decreased domestic demand hit natural gas markets. Meanwhile, several figures with high profiles and deep pockets began campaigning for natural gas as the “fuel of the future,” leading many investors to believe that a major rebound in prices was inevitable. [click to continue…]
A barrage of economic data and reports of some major M&A activity gave markets a boost on Thursday, although volume was relatively light for most securities. The number of idled U.S. workers applying for jobless benefits fell by 6,000 last week, and Devon Energy reported that British oil giant BP had agreed to buy its [...]
It’s difficult to put a finger on the exact cause of the recent surge in popularity of commodity investing. More than likely, the boom is attributable to a number of different factors. Correlation between international equity markets (and even between stocks and bonds) has surged in recent years, increasing both the importance and difficulty of [...]
Following Friday’s jobs report, which came at the end of a week full of widely-anticipated data releases, trading got off to a slow start Monday, as most benchmarks finished nearly unchanged on the day. Overseas, Greek Prime Minister called on U.S. officials to investigate speculation in currency markets, alleging that current borrowing costs threatened to [...]
Yesterday, the United States Natural Gas Fund (UNG), one of the largest and most heavily-traded exchange-traded commodity products, hit its all time low, falling nearly 4% on signs of weak demand and expectations for balmy weather across the country. Since its inception in April 2007, UNG has been one of the most popular and controversial [...]
Thursday saw the Dow Jones Industrial Average climb back into the black for 2010, as a recent rally has now erased February’s steep losses. A series of analyst upgrades gave markets a boost, although health care stocks continued to show weakness. Also on Thursday, retailers reported strong improvements in February sales. A week full of [...]
March got off to a hot start on Monday, as equity markets posted gains on a positive manufacturing outlook and multiple reports of M&A activity. Most notably, UK-based Prudential PLC agreed to buy AIG’s Asia operations for $35.5 billion in cash and stock. Elsewhere, the Institute of Supply Management reported that its index of manufacturing [...]
ETFs finished February range-bound, as most equity markets remained choppy to finish the week. This came after continued weakness in the euro zone and some disappointing news on the jobs front, with 20,000 additions to the list of people seeking unemployment benefits. In other news, AIG reported a $8.87 billion quarterly loss, raising concerns that [...]
U.S. markets continued to take their cues from Europe on Thursday, as fresh concerns about Greece’s financial mess weighed on Wall Street. Domestic jobs data did little to create a bullish mentality among investors, as the Labor Department announced that weekly jobless claims unexpectedly jumped by 22,000 last week. Economists had been expecting a decline [...]
Anxiety over the economic recovery returned to Wall Street Monday, as concerns over the Fed’s action plan and the pullback of stimulus plans around the globe caused a slight dip in equity markets. The energy sector dragged on broader benchmarks, led by Schlumberger’s decline following news of its $11 billion takeover offer for Smith International. [...]
Markets trended higher in the holiday shortened week, as the S&P 500 flirted with and then crossed the 1,100 mark. The dollar strengthened throughout the week as debt clouds continue to hang over the euro zone and after the Fed raised the discount rate to 75 basis points. Below, we offer our picks for the [...]
