Despite still recovering from a Hurricane, Wall Street surged higher in Monday trading as the damage from Irene was less than expected while comments from Bernanke also helped to boost sentiment. The Dow rose by 2.3% on the day while the S&P 500 gained 2.8% and the Nasdaq surged by 3.3%. Gains were especially robust in the financial sector while the basic material also experienced solid increases as well. Tech was more mixed while utilities also saw some weakness in some of the sector’s biggest names. In commodity markets, gold finished lower by $9/oz. as worries over the storm didn’t come to fruition, while oil gained 2.4% to finish the day just below the $87.5/bbl. mark. The rest of the commodity sector tended to follow oil’s lead higher as most softs rose, but copper and the rest of the metals finished in the red. Investors also saw a dollar index that was [...] Click here to read the original article on ETFdb.com. Related Posts: 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 Daily ETF Roundup: UNG Falls Back, XLF Soars Daily ETF Roundup: UNG Surges, XLF Sinks
Despite still recovering from a Hurricane, Wall Street surged higher in Monday trading as the damage from Irene was less than expected while comments from Bernanke also helped to boost sentiment. The Dow rose by 2.3% on the day while the S&P 500 gained 2.8% and the Nasdaq surged by 3.3%. Gains were especially robust in the financial sector while the basic material also experienced solid increases as well. Tech was more mixed while utilities also saw some weakness in some of the sector’s biggest names. In commodity markets, gold finished lower by $9/oz. as worries over the storm didn’t come to fruition, while oil gained 2.4% to finish the day just below the $87.5/bbl. mark. The rest of the commodity sector tended to follow oil’s lead higher as most softs rose, but copper and the rest of the metals finished in the red. Investors also saw a dollar index that was [...]
Click here to read the original article on ETFdb.com.
Related Posts:
