Commodities (& Latin America), Emerging markets and small cap all took bigger hit last week, despite a good GDP report that was aided by government programs like "Cash for clunkers" and "first time home buyer incentives". However US dollar strength can be attributed to the equities fall too.
Next Week's economic calendar:
- ISM Index - 11/2
- FOMC rate decision, ADP Employment report - 11/4
- Unemployment rate, Consumer credit -11/6
Last week's (week over week) market Sectors Returns and Internals:
- SP 500: -4.02%
- Volatility Index, VIX =30.69
- Short term bond rate (average of 3 year and 5 year) = 1.87%
- Small Cap (IWM): -6.21%
- Latin America (ILF): -7.48%
- Europe (IEV or EFA): 0.2%
- Emerging Markets (EEM): -7.83%
- Commodities (DBC): -4.53%
- Long term Bonds (TLT): 0.87%
- US Dollar, 5 DMA = 76.2
- Gold, (GLD) 5 DMA = 101.93
NYSE (New Highs - New lows), 5 DMA =37
NYSE (Advances-Declines), 5 DMA = -1056.2
10 year Treasury yield = 3.41%
Put/Call Ratio, total of equity/Index = 1.21
Bull/Bear Ratio, Investors Intelligence survey = 2.15
-Nidhi
2 comments:
India is buying half of IMF's 400 ton gold reserve. Potential for disruption in gold market ?
The purchase might itself have smaller impact on the prices, but it has emboldened the view of Gold Bugs .. and of course higher inflation expectations and dollar demise is adding fuel to the hotness in gold ..
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