All ETF Daily News Articles

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

Why a collapse in earnings could be the catalyst to bring down stocks

SandP500
From Jeff Cox : The corporate earnings picture continues to deteriorate, with companies exposed to tariffs taking a particularly strong hit.
NYSE:SPY June 24, 2019 9:09pm

The stock market trades sideways, as investors wait for week’s G-20 summit

China and USA
From Fred Imbert : Stocks held steady on Monday as investors looked ahead to a key meeting between President Donald Trump and Chinese President Xi Jinping at this week's G-20 summit.
NYSE:SPY June 24, 2019 4:35pm

Goldman Sachs says value investing can still be done but there’s a catch

From Yun Li: For some, value investing has been left for dead after years of underperformance. However, Goldman Sachs says there's still life left in the classic factor strategy, especially with the Fed set to cut rates again.
NYSE:IVE June 24, 2019 4:21pm

Treasury yields drop as investors await trade negotiation outcome

From Thomas Franck: U.S. government debt yields fell on Monday as investors prepared for a key trade meeting between President Donald Trump and China leader Xi Jinping.
NYSE:TLT June 24, 2019 4:00pm

Gold continues its winning streak, soars to highest level in 6 years

gold logo
From Fred Imbert : Gold surged to its highest level in nearly six years on Monday as the prospects of lower Federal Reserve rates and lingering geopolitical tensions between the U.S. and Iran made the precious metal more attractive to traders.
NYSE:GLD June 24, 2019 3:54pm

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