Pop goes the market. Equity indexes soared on Thursday as investors rejoiced over Euro zone debt negotiations, with the S&P 500 gaining an impressive 3.4% for the day, while the Dow Jones Industrial Average lagged behind a bit, clinching a 2.8% gain. The bulls came charging down Wall Street after European leaders agreed to boost the region’s “rescue fund” to $1.4 trillion and managed to persuade Greek bondholders to take a 50% loss on their debt holdings. Talks of a bailout inevitably sparked inflation fears, paving the way higher for gold, with the precious metal setting near $1,740 an ounce for the day. Investors should keep in mind that the Euro zone is not out of the woods yet by an means as several key issues remain unanswered. Policymakers still need to decide how the banks will raise the necessary capital and whether the future bank debt will be backed [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: XLF Surges On Euro Zone Hopes, VXX Sinks On Equity Surge August ETF Stats: Keeping The Winning Streak Alive (Just Barely) Daily ETF Roundup: VXX Sinks On German Court Ruling, XLF Surges On BAC Management Change Daily ETF Roundup: VXX Surges On Jobs Disaster, XLF Falls On More Lawsuits Daily ETF Roundup: VXX Surges Over 20%, XLF Crashes On Global Bank Fears
Pop goes the market. Equity indexes soared on Thursday as investors rejoiced over Euro zone debt negotiations, with the S&P 500 gaining an impressive 3.4% for the day, while the Dow Jones Industrial Average lagged behind a bit, clinching a 2.8% gain. The bulls came charging down Wall Street after European leaders agreed to boost the region’s “rescue fund” to $1.4 trillion and managed to persuade Greek bondholders to take a 50% loss on their debt holdings. Talks of a bailout inevitably sparked inflation fears, paving the way higher for gold, with the precious metal setting near $1,740 an ounce for the day. Investors should keep in mind that the Euro zone is not out of the woods yet by an means as several key issues remain unanswered. Policymakers still need to decide how the banks will raise the necessary capital and whether the future bank debt will be backed [...]
Click here to read the original article on ETFdb.com.
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