Daily ETF Roundup: Stocks Grind Lower Amid Uncertainty
Investors remained on eggshells today as bearish sentiment swept across Wall Street. Despite the fact that the central banks of three global powerhouses the U.S., Euro Zone, and Japan will be pumping billion of dollars into their economies in an effort to prop up growth, speculations remain high as many have started to doubt the effects of these massive stimulus plans. In the Euro Zone, protests and riots spread across debt-ridden Madrid and Athens today as governments announced moreausteritycuts. To make matters worse, Germany, Netherlands, and Finland pointed out yet another crack in the currency bloc's bailout plan; they claim that Spain should bear the cost of problems in the banks, with the European Stability Mechanism covering only a portion of the recapitalization burdens. And with massiveglobal debt piles and trigger-happy central banks pumping out money left and right, it is no wonder investors remain on edge .
Bond ETF Roundup
U.S. Treasury yields fell for the eighth straight day its longest losing streak in 16 months. Heightened Euro Zone tensions had investors snapping up the safe-haven, while a better-than-expected demand for 5-year debt at thegovernmentauction also helped boost prices.
Commodity ETF Roundup
Despite being known as one of the market's favorite safe haven asset classes, gold prices fell today, pulling back from its summer-long rally. Crude oil inventories came in significantly lower than expected, and yet pricesplummeted .
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Disclosure: No positions at time of writing.
Global Market Overview: Stocks Grind Lower Amid Uncertainty
U.S. equities ended lower today, extending multi-day losses.The Dow Jones Industrial Average (DIA) and Nasdaq (QQQ) fell 0.33% and 0.77%, respectively. The S&P500 (SPY) also ended in negative territory, extending its fifth-straight decline. As worries about Spain and Greece intensified, European markets fell into a broad slump. Meanwhile, Asian equities also fell sharply following a report that China rejected an invitation from Japan to talk at this week's United Nations General Assembly. China's Shanghai Composite dropped 1.2%, while Japan's Nikkei Stock Average shed 2%.Bond ETF Roundup
U.S. Treasury yields fell for the eighth straight day its longest losing streak in 16 months. Heightened Euro Zone tensions had investors snapping up the safe-haven, while a better-than-expected demand for 5-year debt at thegovernmentauction also helped boost prices.
Commodity ETF Roundup
Despite being known as one of the market's favorite safe haven asset classes, gold prices fell today, pulling back from its summer-long rally. Crude oil inventories came in significantly lower than expected, and yet pricesplummeted .
ETF Chart Of The Day #1: UVXY
The Ultra VIX Short-Term Futures ETF (UVXY)was one of the best performers, gaining 7.54% on the day. As Euro Zone concerns took center stage,the CBOE Volatility Index jumped above 17, forcing this leveraged ETF to surge during mid-morning trading hours. UVXY eventually settled below its high of $36.87 a share .ETF Chart Of The Day #2: GDXJ
The Van Eck Market Vectors Junior gold Miners ETF (GDXJ) was one of the worst performers, shedding 1.13% during the session. Alongside a decline in gold, this ETF gapped significantly lower at the open as investors shifted away from riskier asset classes. GDXJ regained some of its lost ground by the end of the session, but still landed in negative territory on the day.ETF Fun Fact Of The Day
ProShares Credit Suisse 13/30 (CSM) is up 17.25% year-to-date, while First Trust's JFT, which also employs the 130/30 strategy, is only up 6.17% YTD.Follow me on Twitter@DPylypczak
Disclosure: No positions at time of writing.
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