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The International Trade report, better known as the Trade Deficit, shrank to -$34 billion from -39 billion previously. Most of this was due to increased exports to China (maybe we’re now sending them T-Shirts) and declines in energy imports given increases in U.S. production. The positive report gave bulls the sense that the economy was growing even faster than previously thought. Adding to this was the release of Jobless Claims data in Germany dropped by 15K, which European investors thought was positive. (I would think analysts would consider seasonal factors as moderating bullish enthusiasm—just wundrin’). Nevertheless, stocks rallied as bulls had an itchy trigger finger.
Goldman Sachs and J.P. Morgan suggested investors to sell their emerging market holdings even though they just told them to buy last year. Emerging Markets rose.
The Fed is back in action with another POMO Tuesday . This promotes bullish action since virtually every dollar in goes straight to the stock market. (Where else would it go?)
Rising ETF sectors included: Tech (QQQ), Energy (XLE), Small Caps (IWM), Healthcare (XLV), REITs (IYR), Biotech (IBB), Solar (TAN), Alternative Energy (GEX), Emerging Markets (EEM), Mexico (EWW), South Korea (EWY), Thailand (THD), Europe Asia & Far East (EFA), Austria (EWO), Spain (EWP), Bonds (TLT) and the Dollar (UUP). Weaker sectors included: Gold (GLD), Silver (SLV) Commodity Tracking ETF (DBC) and Coal (KOL) and many commodities.
In keeping with today’s image, we present without comment an interesting statistic:
It seems fitting given the headline image that we featured a short video on U.S. Natural Gas ETF (UNG ) from both weekly and daily chart perspectives.
Our staff also puts together the daily top 20 ETF market movers by percentage cha nge in volume for gainers, decliners and emerging volume.
Volume drifted back to “crazy-light” status as many investors may be waiting for earnings news and employment data this week. Breadth per the WSJ was positive.