|Bid||0.00 x 1000|
|Ask||241.09 x 1400|
|Day's Range||240.82 - 244.78|
|52 Week Range||233.20 - 269.28|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.02|
|Expense Ratio (net)||0.15%|
Could Market Risks Bring Investors Back to Gold in 2019? During an investor webcast on December 11, DoubleLine CEO Jeffrey Gundlach painted quite a bearish picture of stocks, bonds, and the US economy (SPY)(DIA). Gundlach also cited an Atlanta Fed study that calculates that an unwinding of $600 billion from the Fed balance sheet is equivalent to three interest rate hikes.
The contradictory statements from White House officials, Trump’s tweets, and the arrest of the Huawei CFO in Canada dimmed the outlook for a permanent trade deal between the US and China (FXI). Equity markets also took cues from the bond market, which portended a slowdown ahead.
On December 6–13, US equity indexes had the following correlations with US crude oil January futures: the S&P Mid-Cap 400 (IVOO): -51.5% the S&P 500 (SPY): -49.7% the Dow Jones Industrial Average (DIA): -43.3%
Strong domestic Retail Sales have added importance today, when we see Retail numbers for China missing expectations, helping send Asian markets lower overnight.
On December 14, US steel stocks including U.S. Steel Corporation (X) and AK Steel (AKS) bounced back from the fresh 52-week lows that they hit in today’s session. Nucor (NUE) has also bounced back from its 52-week low. The bounce in steel stocks is coming amid the weak broader market (DIA).
The total land value alone of the 48 contiguous U.S. states is roughly $23 trillion as of 2015, according to Federal Housing Finance Agency economist William Larson. On top of that land value, the total value of the U.S. stock market is roughly another $30 trillion. The U.S. now has about $9 trillion in outstanding mortgage debt.
China’s (FXI) National Bureau of Statistics reported industrial output and retail sales growth data for November on December 14, 2018. Both of these data points came in below the market’s expectations. The industrial output grew by 5.4% YoY, which is its slowest pace in almost three years.
China (FXI) is the world’s largest steel consumer. The real estate and automotive sectors are the two largest steel end consumers in China. China’s property market has been in a state of decline for the past few months.
This is a special edition of the ETFdb.com scorecard that delves into the annual performance of some of the key funds. The performance is measured from January 1 to November 30.
Mario Draghi mentioned that the central bank would still be ready to make needed adjustments to the Eurozone economy, but right now, the ending of the bank's Quantitative Easing (QE) program will go on as expected.
While experiencing some selling pressure in the last few hours of the trading session, investors are enjoying yet another rally in the stock market. The SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) has been in a sharp rebound this week, a welcome sight for the bulls.
China’s steel prices entered a bear market in late November, with the most active rebar contract on the Shanghai Futures Exchange falling 21% since hitting a seven-year high in August. At present, the most active May rebar contract is trading 18% down from its August peak.
One of the major factors spooking the markets worldwide has been the concern about China’s economic slowdown. According to Bank of America Merrill Lynch’s survey for November, apart from trade war risk and concerns about quantitative tightening, China’s slowdown was fund managers’ biggest worry. As the trade war escalates, concerns about China’s slowdown are also picking up.
With the production cut agreement that’s set to be implemented in 2019, US crude oil’s downside could be limited. Traders think that the recent flow of funds from oil to the natural gas market might stop, which could be a negative development for natural gas prices.
Bank of America Merrill Lynch (BAC) expects Brent crude oil to average ~$70 per barrel in 2019, according to a CNBC report. The OPEC and non-OPEC agreement to cut 1.2 MMbpd (million barrels per day) of oil from the October production level in 2019 would be the key driver for US crude oil prices going forward.
Futures are Up, But May No Confidence Vote Could Roil Markets Stock futures are up early this morning, with the tech-heavy Nasdaq (NASDAQ:QQQ) bouncing over 1% higher in the premarket and the S&P 500 (NYSEARCA:SPY) and Dow (NYSEARCA:DIA) not too far behind, but there could be a fly in the ointment here. News came out […] The post Market Morning: Futures Up but UK Vote on May Looms, Shutdown Threat, Macron Makes A Move appeared first on Market Exclusive.
The U.S. stock markets took a hit Tuesday along with Americans' hope for bipartisanship in Washington after a meeting about a potential holiday season government shutdown between President Donald Trump, House Minority Leader Nancy Pelosi and Senate Minority Leader Chuck Schumer devolved into a heated argument on live TV. If Congress can't pass a funding bill by Dec. 21, a partial government shutdown will be triggered the week before Christmas. Trump has said he will not support any funding bill that does not prioritize “border security,” specifically designating $5 billion in spending toward the construction of the wall.
In the week that ended on November 30, US crude oil inventories were 6% higher than their five-year average—one percentage point less than in the previous week. Oil prices and the inventories spread usually move inversely.
On December 10, US crude oil January futures fell 3.1% and settled at $51 per barrel. The Energy Select Sector SPDR ETF (XLE) fell 1.6% on the same day.