ETF Morning Call: Peering Over ‘Fiscal Cliff’

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International

Asia

  • Asian stock indexes gained as gold producers and Chinese banks commanded the attention of investors, while trading volumes declined due to the Christmas holiday.
  • The Nikkei was closed for a public holiday; S'P/ASX 200 rose 0.25 percent; Hang Seng advanced 0.16 percent; KOSPI barely gained 0.07 percent; the Shanghai Composite climbed 0.27 percent.

Europe

  • European stock indexes fell during the shortened trading session with trading volume much lower than normal as markets were closed in Germany and in Italy. Look for drops in the Vanguard MSCI Europe ETF (VGK).

 

Domestic

  • U.S. stock futures signaled a lower opening as investors worried if negotiations between Democrats and Republicans can be made before the end of the year. U.S. markets will close on Christmas eve—Dec. 24—at 1 p.m. Eastern time and will be closed entirely on Christmas day.

 

Commodities

All commodities news is as of 6:40 a.m. ET.

 

Gold and Silver Climbed

  • Gold advanced 0.38 percent, or $6.31, to $1663.53. Expect gains in the SPDR Gold Shares physical bullion ETF (GLD).
  • Silver rose 0.88 percent, or $0.29, to $30.27. Expect increases in the iShares Silver Trust (SLV).

WTI Gained and Brent Oil Sank

  • The February contract for WTI crude oil rose 0.06 percent, or $0.05, to $88.71 per barrel.
  • The February contract for Brent crude oil slipped 0.20 percent, or $0.22, to $108.75 per barrel.
  • Expect advances in the United States Oil Fund (USO) and falls in the United States Brent Oil Fund (BNO).

 

Fund Flows

Data for Friday, Dec. 21, 2012 are not yet  available.

 

ETF Launches

None as of yet today

 

ETF Filings

None as of yet today

 

Economic Calendar

None

 

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