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Most major indexes finished the week rangebound as markets digested conflicting data. Although retail sales increased unexpectedly, weak consumer sentiment and unchanged inventories helped to drag the markets lower and balance out the hopes of renewed consumer spending. “There is a lack of conviction in the markets, everyone is kind of in wait-and-see mode.” said Neil Menard, principal at Steben & Co. in Rockville, Md. [click to continue…]
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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 international and deepwater Gulf of Mexico Portfolio for $7 billion. Trading in Citigroup represented nearly one fourth of the markets overall volume following bullish comments from CEO Vikram Pandit. Citi finished the day up 4%. [click to continue…]
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In late 2009, ETF Database introduced the ETFdb 60 Index, an all-ETF composed of the largest ETF from each of our proprietary ETFdb Categories. Excluding leveraged and inverse funds, the index consists of 60 components funds spread across several different asset classes. The index is an equal-weighted benchmark, assigning an equivalent allocation to each holding [...]
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The financial sector was in focus on Friday as Obama unveiled a plan to tax 50 banks, insurance firms, and broker-dealers in a plan to recoup $90 billion dollars of government funds. Signs of a recovery continued to emerge, and major benchmarks reached 15-month highs. After hours, Intel reported stronger than expected earnings, setting the [...]
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Although Japan is perhaps mired in another ‘lost decade’ and faces significant obstacles on the road to material economic growth, the country remains the world’s second largest economy and as such is a major component of the international equity portion of most investor portfolios. After missing out on the bull market that sent much of [...]
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As the recovery has gained momentum in much of the Asian Pacific, Japan’s economy has struggled to find its footing, becoming a laggard in a region that has largely propelled itself out of the recession and established itself as one of the leaders of the new global economy. Australia has begun raising interest rates once [...]
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Asia Pacific ETFs posted big gains on Thursday following the release of updated growth projections from the International Monetary Fund that included upward revisions for the region for both this year and next. The region as a whole – including Japan, Australia, and New Zealand – is expected to grow by 2.8% for 2009 and [...]
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Over the next 48 hours, a world superpower, home to one of the largest global economies, will head to the polls, with all indications that the Democratic Party, running a campaign promising thorough overhauls (as evidenced by the campaign slogan “Change”), will score a resounding victory and wrestle power from the long-ruling party.
Sound familiar?
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Earlier this year, India conducted one of the world’s largest exercises in democracy when more than 710 million citizens headed to the polls to complete general elections. Following the announcement of the results, several India ETFs (such as PIN, INP, and EPI) surged more than 20% in a single session on news that the Indian National [...]
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With the news that General Motors’ bondholders rejected a proposed debt-for-equity exchange breaking Wednesday afternoon, a bankruptcy filing from the leading U.S. automaker appears to be imminent. The market had been expecting this as a possible outcome for some time, so official news of a filing from GM likely won’t send shock waves through Wall Street. But [...]
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