|Bid||26.34 x 1300|
|Ask||26.39 x 45100|
|Day's Range||26.29 - 26.36|
|52 Week Range||24.76 - 26.47|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||7.68|
|Expense Ratio (net)||0.75%|
President Trump renewed his attack on the Fed this week, complaining that the U.S. dollar is at a disadvantage compared with other major currencies like the euro. Ann Berry, Partner at Cornell Capital, joins Seana Smith on 'The Ticker' to discuss currency outlook amid market uncertainty.
Paul Tudor Jones has told Bloomberg that he expects an aggressive but short period of rate cuts by the Fed, which is set to meet on June 18 and 19.
A Perfect Storm for Gold: All Macro Drivers Align(Continued from Prior Part)Fed rate cutsFed policymakers are set to meet on June 18 and 19. Whereas the market has not priced in a rate cut in June, at least two rate cuts are expected by the end
Why Disappointing US Jobs Report Lit Up a Fire Under Stocks?(Continued from Prior Part)Gold catches a bidGold has caught a bid in the last few days after being lukewarm for most of this year. Weaker US economic reports and escalating trade tensions
Just look at gold-backed exchange traded funds, such as the SPDR Gold Shares (GLD) and SPDR Gold MiniShares (GLDM) . GLD, the world's largest gold ETF, surged 2.43% in May as bullion topped $1,300 per ounce late in the month. Against the current backdrop of the U.S. trade war with China, and the fear and uncertainty that accompany the rampant volatility and the worst May selloff for stocks in 50 years now, gold prices will continue to rise this year, according to one financial executive.
Heading into this year, there were plenty of calls for the dollar weaken, but with five months of 2019 almost in the books, the Invesco DB US Dollar Bullish (UUP) is higher by 3.58% and some market observers believe the greenback can continue its ascent. UUP, the largest exchange traded fund dedicated to tracking the dollar's move against major currencies, seeks to establish long positions in ICE U.S. Dollar Index futures contracts with a view to tracking the changes, whether positive or negative, in the level of the Deutsche Bank Long USD Currency Portfolio Index — Excess ReturnTM over time, plus the excess, if any, of the sum of the fund’s Treasury Income, Money Market Income and T-Bill ETF Income over the expenses of the fund. The fund invests in futures contracts in an attempt to track its index.
UUP, which tracks the Deutsche Bank Long USD Currency Portfolio Index, is up 3.58 percent. Underscoring the strength in the dollar this year, the WisdomTree Bloomberg U.S. Dollar Bullish Fund (NYSE: USDU) is up almost 2.20 percent year to date. Amid expectations that the Federal Reserve will not raise interest rates this year after doing so four times in 2018, dollar strength is confounding some market observers while others expect the scenario to continue.
Stocks tumbled again on the Dow Jones today as the long-running trade dispute between the U.S. and China intensified. Adding to the carnage, recession fears are being stoked by plunging 10-year bond yields, which again led to an inverted yield curve.Source: Shutterstock On Wednesday, 10-year Treasury yields slipped to the lowest levels in 20 months. At one point today, the yield difference between 3-month T-bills and 10-year Treasuries was -13.5. That led to an inverted yield curve, a scenario that has historically been a reliable recession indicator.According to Barron's: "There has only been two times in the last 60 years the yield curve has 'inverted' and a recession hasn't followed," writes Seaport Global's Tom Digaloma. "Recession alert in next 12-18mos most likely scenario."InvestorPlace - Stock Market News, Stock Advice & Trading Tips Dow Jones Dogged … AgainAt one juncture Wednesday, the Dow Jones Industrial Average was lower by as much as 1.5% while the S&P 500 and Nasdaq Composite traded down by as much as 1.1%. By the close of U.S. markets, the S&P 500 was able to trim that loss to about two-thirds of a percent and while the Dow pared its intraday loss as well, the blue-chip index closed down by almost 1%.The SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA), the exchange-traded fund (ETF) tracker for the Dow, is now down 5% month-to-date and on Wednesday, pharmaceuticals giant Johnson & Johnson (NYSE:JNJ) was the worst offender in the Dow, shedding 4.2% on volume that was nearly triple the daily average as a trial in Oklahoma continued. * 7 Stocks to Sell Amid an Escalating Trade War The state is accusing Johnson & Johnson of playing a role in the opioid crisis that has gripped the U.S. The Oklahoma trial is the first stemming from more than 2,000 suits filed by state and local governments around the U.S. against opioid makers and potentially opens Johnson & Johnson up to paying significant monetary damages. Entering Wednesday, shares of JNJ were the tenth-largest components in the Dow.Oklahoma Attorney General Mike Hunter claims that "J&J helped cause the epidemic by marketing opioids as safe and effective for everyday pain while downplaying their addictive qualities," according to Reuters.Down almost 3% on above-average volume, Nike (NYSE:NKE) was the next-worst offender in the Dow Jones today. There was no company-specific news hampering Nike shares Wednesday, but the company is heavily dependent on foreign markets for the production of its shoes and apparel, indicating some investors may be applying a trade war assessment to the stock over the near-term.Overall, 27 of the Dow's 30 members closed lower today with nine of those names losing 1% or more. Bottom LineWhile Wednesday's market chatter revolved largely around the trade war with China and the inverted yield curve, there is the another issue investors should be mindful: a strengthening dollar.The Invesco DB US Dollar Index Bullish Fund (NYSEARCA:UUP), the largest ETF tracking the dollar against other major currencies, is in rally mode and that could punish some export-heavy sectors."The Dollar Index, a measure of the greenback against some of its most traded developed market peers, closed at 98.2030 on April 25, the highest level since May 2017, as global economic weakness and relatively high U.S. interest rates boosted the relative attractiveness of the currency," according to S&P Global Market Intelligence.The research firm went to note some well-known consumer staples recently warned about the strong dollar on their first-quarter earnings calls. Consumer staples is the Dow's sixth-largest sector weight and each of the index's consumer staples names closed in the red on Wednesday.As of this writing, Todd Shriber did not own any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for June * 7 Stocks to Buy From One of America's Best Pension Funds * 4 Consumer Staples Stocks for Both Income and Growth Compare Brokers The post Dow Jones Today: Trade War, Specter of Recession Are Toxic for Stocks appeared first on InvestorPlace.
There is a hidden string that ties currencies together to crude oil, with price actions in one venue forcing a sympathetic or opposing reaction in the other. This correlation persists for many reasons, including resource distribution, the balance of trade (BOT), and market psychology. In addition, crude oil is quoted in U.S. dollars (USD) so each uptick and downtick generates immediate realignment between the greenback and numerous forex crosses.
While a strong U.S. dollar benefits some, it negatively impacts others. These are the advantages and disadvantages of a strong U.S. dollar, and who gains and loses.
Gold: Analysts Are Bullish despite Weak Performance in 2019(Continued from Prior Part)BMO Capital Markets BMO Capital Markets raised its gold price forecast for 2019 0.8% to $1,293 per ounce in March. The firm is expecting gold prices to average
Gold: Analysts Are Bullish despite Weak Performance in 2019(Continued from Prior Part)Bank of America Bank of America Merrill Lynch is overweight on precious metals in 2019. One of the key arguments that Bank of America has, which supports its
The U.S. dollar has been hovering around 10-month high thanks to the economy???s much-better positioning in the developed market pack. This creates a buying opportunity for these ETFs.
Iran Threatens to Play “Trump” Card And Block Straits of Hormuz Iran is obviously upset about President Donald Trump moving to prevent Iran from selling its own oil and has threatened to block the Straits of Hormuz if the United States moves to block all countries from buying Iranian crude. The only way the US […]The post Market Morning: Iran Plays Trump…Card, Eurobank Earnings, $1B Apple Lawsuit appeared first on Market Exclusive.
Industrial stocks surprised to the upside as investors considered the implications of the Mueller report. Watch the dollar for signs of bearishness.
BAML Survey: How Are Global Fund Managers Positioned?(Continued from Prior Part)Most crowded tradeAccording to the latest Bank of America Merrill Lynch survey, shorting European equities (HEDJ) has been the most crowded trade for two months in a
The U.S. dollar has been the pushy salesman who won't take no for an answer when it comes to potential declines from a more dovish Federal Reserve. Of course, less hikes and a rate cut would translate to dollar weakness, but the greenback has been snubbing that notion as of late. The U.S. ICE Dollar Index, a key measure for the dollar against 12 other currencies, has been on an upward trajectory since April 2018. Of course, a stronger dollar is translating to indigestion for gold traders--the precious metal has taken a back seat with the precious metal falling one percent on Tuesday to settle at a price of $1,274.05 as of 1:30 p.m. ET.
Our call of the day, from Goldman Sachs alumnus, Raoul Pal, who forecast the last global financial crisis, sees trouble on the horizon for the world’s economies, advising investors to buy bonds and the dollar.
To help investors keep up with the markets, we present our ETF Scorecard. The Scorecard takes a step back and looks at how various asset classes across the globe are performing. The weekly performance is from last Friday’s open to this week’s Thursday close.
Palladium has been staging record highs for the better part of the last seven months, outstripping even the most bullish forecasts made during 2018 as a supply squeeze inflated the metal’s price.
Vale’s Q4 Results: Why Analysts' Sentiments Are Trending Down(Continued from Prior Part)Vale’s iron ore production Vale’s (VALE) iron ore production came in at 101 million tons in the fourth quarter of 2018, an increase of 8.2% YoY
What Fund Managers’ Allocations Say about the Market's Outlook(Continued from Prior Part)Most crowded trade As with the biggest tail risk, the latest Bank of America Merrill Lynch Survey resulted in a new “most crowded trade” response as well.
Why Jeffrey Gundlach Thinks We're Still in a Bear Market(Continued from Prior Part)The next move for the US dollar could be downDuring his “Highway to Hell” webcast, Jeffrey Gundlach put forth several arguments for a bearish long-term outlook