All ETF Daily News Articles

These five marijuana stocks are winning the licensing race

From Sean Williams: In case you haven't been paying attention, North America is "going green" at a rapid pace -- and I'm not talking about solar energy. The legal cannabis movement is quickly picking up steam, and legal weed sales are expected to soar in the years that lie ahead.
NYSE:MJ June 26, 2019 11:02am

Why this trader thinks gold will surge higher

gold
From Keris Lahiff: It's a gold rush.
NYSE:GLD June 26, 2019 10:55am

Gold sells off following comments from Fed Chairman Powell

gold logo
From Neils Christensen: (Kitco News) - Gold prices are well off their highs, dipping into negative territory after Federal Reserve Chairman Jerome Powell failed to shed any new light on the pace of interest rate cuts later in the year.
NYSE:GLD June 25, 2019 6:14pm

Stocks tumble after Fed Chair Powell disappoints on likelihood of a rate cut

recession
From Stephen Culp: NEW YORK (Reuters) - Wall Street stock indexes fell on Tuesday, led by a sharp selloff in technology shares, as simmering trade concerns and disappointing economic data sent buyers to the sidelines, while the Federal Reserve chairman pushed back on pressure from President Donald Trump to cut interest rates.
NYSE:SPY June 25, 2019 6:09pm

Illinois becomes the 11th state to legalize recreational marijuana

From German Lopez:

Illinois just became the 11th state to legalize marijuana -- and the first where the legislature legalized selling the drug.

NYSE:MJ June 25, 2019 6:02pm

A new gaming ETF hits the market

From Todd Shriber: Another exchange traded fund dedicated to the fast-growing video game industry is here. As was previously noted in this space, the Defiance Future Tech ETF was to be replaced by the Defiance Next Gen Video Gaming ETF VIDG 1.59%. VIDG made its debut on Monday.
ETF BASIC NEWS June 25, 2019 3:04pm

Economists caution that market optimism is getting ahead if itself

Guyatcomputer
From Stephanie Landsman: Wilmington Trust's chief economist believes the market rally's foundation is on shaky ground.
NYSE:SPY June 25, 2019 3:00pm

U.S. home sales fall for second consecutive month while consumer confidence drops to a 21-month low

Slumping Home Sales
From Business News: WASHINGTON (Reuters) - Sales of new U.S. single-family homes unexpectedly fell for a second straight month in May, suggesting lower mortgage rates had yet to provide a boost to the struggling housing market.
NYSE:XHB June 25, 2019 2:56pm

Gold is finally experiencing the breakout that bulls have been waiting for

Gold
From Maggie Fitzgerald:
KEY POINTS
  • Investors are piling into gold, sending the precious metal to a six-year high this week, and analysts think the commodity has established a "base" to go even higher.
  • The precious metal is up more than 8% this month, on pace for its best monthly performance since 2016.
  • Credit Suisse and Morgan Stanley are among the Wall Street firms that see a big second half of the year for gold.
Investors are piling into gold, sending the precious metal to a six-year high on Tuesday, and analysts think the commodity has established a "base" to go even higher. Gold futures hit a high of $1,442.9 on Tuesday, its highest level since May 2013 when it reached $1,444.9. The precious metal is up 9.6% this month, on pace for its best monthly performance since February 2016 when gold gained 10.57%. "Bigger picture though, given the magnitude of the base, which has taken six years to form, we suspect we could even see a retest of the $1,921 record high," David Sneddon, global head of technical analysis at Credit Suisse, said in a note to clients Monday. Sneddon said gold has established a multiyear base that could provide the platform for a "significant and long-lasting rally" for the precious metal. Gold is breaking out after Federal Reserve Chairman Jerome Powell said last week it would "act as appropriate" to keep the current economic expansion going. Powell's dovish comments increased the odds of the Fed cutting rates in July. The Fed's easier policy has also weakened the dollar. Again a basket of currencies, the dollar hit its lowest level since March on Monday. "We have finally seen more conclusive signs of the USD starting to materially weaken," said Sneddon. "With the DXY removing pivotal support from its 200-day average to complete an important bearish 'wedge' reversal, which should provide a fresh and significant catalyst for Gold to extend its gains." Gold prices also reacted positively after President Donald Trump signed new sanctions on Iran on Monday, days  after Iran shot down a U.S. drone, increasing geopolitical uncertainty. Gold is up 10.6% for the quarter and is on track for its biggest quarterly gain since the first-quarter of 2016, when it rose 16.54%. Morgan Stanley's commodity strategist Susan Bates said gold is the firm's No. 1 commodity pick. "Morgan Stanley's forecasts of falling real rates and a bearish US dollar outlook, against an uncertain macroeconomic outlook, should lend significant upside to gold's price through 2H19 and into 1H20," Bates said in a note Monday. Gold futures are currently trading up 0.7% at $1428.6 and spot gold is trading up 0.44% at $1425.4. The metal is seen as a safe haven and store of value during times of a weakening dollar, slowing economic activity and increased geopolitical tensions. --CNBC's Michael Bloom contributed to this report.

The SPDR Gold Shares (GLD) was trading at $134.31 per share on Tuesday afternoon, up $0.37 (+0.28%). Year-to-date, GLD has gained 8.62%, versus a 9.82% rise in the benchmark S&P 500 index during the same period. GLD currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #1 of 34 ETFs in the Precious Metals ETFs category.
This article is brought to you courtesy of CNBC.
NYSE:GLD June 25, 2019 2:48pm

Market remains mixed near all time highs

From Wayne Cole:
NYSE:SPY June 25, 2019 10:29am

Tech’s hottest IPOs of 2019 plummeted yesterday, will weakness continue?

Technology Sector
From Lauren Feiner:
KEY POINTS
NYSE:IPO June 25, 2019 10:20am

These 5 well-known marijuana stocks should top $500 million in 2020 sales

From Sean Williams : For years now, much of Wall Street has believed that legal marijuana is the greatest investment opportunity since sliced bread. Investors are fully aware of the massive black market and understand that ongoing legalizations around the world could move tens of billions of dollars into legal channels in the years to come. That could allow cannabis stocks -- and investors -- to see plenty of green.
NYSE:MJ June 25, 2019 10:11am

Why the recent strength in energy could be coming to an end

From Annie Pei: Call it a case of bad energy.
NYSE:XLE June 24, 2019 9:28pm

Potential for dollar weakness could strengthen gold prices

gold %dollars
From Patti Domm : The strong dollar story could be over for now, and that's putting a shine on gold and other 'anti-dollar' trades.
NYSE:GLD June 24, 2019 9:16pm

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