Equity markets started the week on a quiet note as investors were reluctant to jump back into the markets following the long holiday weekend. Moody’s downgrade of Portugal sent waves of selling across European equity markets, and gold jumped higher amidst all the uncertainty. The hot yellow metal was easily this week’s star-performer as it managed to start the trading week higher by about $30, and the precious metal was able to holds it’s gains and even add on more in the days following, closing around $1,544 an ounce for the week. Crude oil futures also rallied higher to just under $100 a barrel, but volatility remains extremely high in the energy market and gains quickly evaporated on Friday as futures prices dropped back to the $96.50 level.
Friday’s disappointing employment report sent investors running to the safe havens and domestic equity indexes gave up much of the weeks gains in the final trading session of the week. Our model ETF portfolios have managed to hold their ground fairly well, even amidst all of the uncertainty still plaguing financial markets across the globe.
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