Tuesday was a roller coaster of a day for the markets as investor sentiment fluctuated from fearful to optimistic, and everything in between, during the course of the trading day. Domestic equity indexes started the day in a hole thanks to ongoing worries about the health of the European banking sector spilling over onto Wall Street. Louise Cooper, markets analyst at BGC Partners in London, said, “These concerns about solvency have created a liquidity crisis — European banks are having difficulties borrowing, both short and long term”. She added, “If banks cannot borrow for themselves, then they are highly reluctant to lend to others which results in a credit crunch”. Stocks staged a powerful rally in the final hour of trading, while gold drifted lower, closing just above $1,600 an ounce for the day. The last hour rally on Wall Street was quite impressive as high-volume buying pushed broad-based indexes [...] Click here to read the original article on ETFdb.com. Related Posts: Tuesday’s ETF To Watch: CurrencyShares British Pound Sterling Trust (FXB) ETF Insider: The Dust Has Yet To Settle Three ETFs To Watch This Week: XHB, EWQ, GTIP ETF Insider: Bullish On Equities Thursday’s ETF To Watch: CurrencyShares British Pound Trust (FXB)
Tuesday was a roller coaster of a day for the markets as investor sentiment fluctuated from fearful to optimistic, and everything in between, during the course of the trading day. Domestic equity indexes started the day in a hole thanks to ongoing worries about the health of the European banking sector spilling over onto Wall Street. Louise Cooper, markets analyst at BGC Partners in London, said, “These concerns about solvency have created a liquidity crisis — European banks are having difficulties borrowing, both short and long term”. She added, “If banks cannot borrow for themselves, then they are highly reluctant to lend to others which results in a credit crunch”. Stocks staged a powerful rally in the final hour of trading, while gold drifted lower, closing just above $1,600 an ounce for the day. The last hour rally on Wall Street was quite impressive as high-volume buying pushed broad-based indexes [...]
Click here to read the original article on ETFdb.com.
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