Today saw yet another strong day for markets as hopes that the euro zone will come to an efficient solution fueled markets higher. Unfortunately, as the day came to a close, S&P issued a warning that it has put a number of European countries on credit watch. S&P is perhaps best known for their downgrade of U.S. debts, the first ever by a U.S. ratings agency. Many lashed out at the company, especially after Fitch and Moody’s upheld their top-rated rankings. Despite a late sell-off, the S&P 500 was able to come away with a 1% gain and the Dow grasped 78 points on the day [see also Equal Weight ETFs: Comparing Similar (But Different) Strategies]. Unfortunately, the late sell-off had adverse effects on gold and oil. Oil had been having a great day as it broke though $102/barrel intraday, only to finish the day down $0.35. Gold faced a nasty sell-off as well, [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: XLF Posts Monster Gain, UNG Takes Another Hit Daily ETF Roundup: UNG Sinks On Irene Outages, XLF Jumps On Insurer Rebound Daily ETF Roundup: UNG Sinks On Weak EIA Report, XLF Soars On Strong Earnings Daily ETF Roundup: UNG Tumbles On Mild Forecast, XLF Rises On M&A Activity Daily ETF Roundup: XLF Sinks On LIBOR Investigation, UNG Surges On Small Supply Increase
Today saw yet another strong day for markets as hopes that the euro zone will come to an efficient solution fueled markets higher. Unfortunately, as the day came to a close, S&P issued a warning that it has put a number of European countries on credit watch. S&P is perhaps best known for their downgrade of U.S. debts, the first ever by a U.S. ratings agency. Many lashed out at the company, especially after Fitch and Moody’s upheld their top-rated rankings. Despite a late sell-off, the S&P 500 was able to come away with a 1% gain and the Dow grasped 78 points on the day [see also Equal Weight ETFs: Comparing Similar (But Different) Strategies]. Unfortunately, the late sell-off had adverse effects on gold and oil. Oil had been having a great day as it broke though $102/barrel intraday, only to finish the day down $0.35. Gold faced a nasty sell-off as well, [...]
Click here to read the original article on ETFdb.com.
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