Today was one of the best trading days in recent memory. The Dow rose 1.2%, hitting its highest levels since 2008, while the Nasdaq surged 1.6% to its highest level in 11 years; the S&P 500′s return of 1.5% wasn’t too shabby either. The big day was spurned by a better than expected unemployment report for January, which showed signs of an economic turnaround, though many analysts have warned that we need several more months like this in order to classify ourselves as recovering. On the commodity side of things, gold futures were slaughtered with the price of the precious metal dropping by 1.8% as investors piled into equities. But the losses for gold were oil’s gain, as crude jumped by 1.5% to close out this week [see also Three Reasons Why Gold Is Overvalued]. Many had feared that the rally that 2012 has enjoyed was screeching to halt this [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: XHB Pops On Data, VXX Drops As Bulls Return Daily ETF Roundup: VXX Jumps With Uncertainty, VGK Drops On Greek Woes ETF Insider: Bears Are Lurking Around The Corner Beyond XLY: Considering Consumer Discretionary ETFs Daily ETF Roundup: GDX Soars On Inflation Concerns, VXX Drops On Fed Decision
Today was one of the best trading days in recent memory. The Dow rose 1.2%, hitting its highest levels since 2008, while the Nasdaq surged 1.6% to its highest level in 11 years; the S&P 500′s return of 1.5% wasn’t too shabby either. The big day was spurned by a better than expected unemployment report for January, which showed signs of an economic turnaround, though many analysts have warned that we need several more months like this in order to classify ourselves as recovering. On the commodity side of things, gold futures were slaughtered with the price of the precious metal dropping by 1.8% as investors piled into equities. But the losses for gold were oil’s gain, as crude jumped by 1.5% to close out this week [see also Three Reasons Why Gold Is Overvalued]. Many had feared that the rally that 2012 has enjoyed was screeching to halt this [...]
Click here to read the original article on ETFdb.com.
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