Courtesy of John Nyaradi.
U.S. stocks and ETFs were calm today as gold and energy rise in front of earnings, Greek debt talks and tensions in the Persian Gulf.
It was a quiet day on Wall Street as the Dow Jones Industrial Average SPDR DJ Industrial Average ETF Trust (NYSEARCA:DIA) lost 12 points, the S&P 500, SPDR S&P 500 SPDR (NYSEARCA:SPY) gained 1 point and the Nasdaq lost 3 points.
However, big moves came in commodity markets as gold added $12.70 and SPDR Gold Trust (NYSEARCA:GLD) the world’s second biggest ETF, gained 0.7%. The energy markets were active, as well, as tensions with Iran heated up and the European Union embargoed Iranian oil beginning in July. Iran responded with new threats to close the Strait of Hormuz and oil gained 1.1% to close at $99.58 and iShares Energy ETF (NYSEARCA:IYE) added 0.8%.
Talks regarding Greek debt resolution continued today and apparently were more optimistic as the Euro Dollar hit a new peak for the month and broad European ETFs like Vanguard MSCI Europe ETF (NYSEARCA:VGK) climbed 0.7%. European ETFs have been rising on the strength of progress in the talks and declining yields in Italian and Spanish bonds.
Overall, the S&P 500 (NYSEARCA:SPY) managed to eke out its fifth day of gains in a row and now market players are looking to big names earnings reports and economic reports coming later in the week. First up tomorrow will be the Richmond Fed report and earnings from Apple, AMD, DuPont, Johnson and Johnson and Yahoo!
Today I had the opportunity to talk with widely quoted analyst Doug Roberts about how to invest following the Fed and its actions.
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