ETF Morning Call: 'Cliff' Talks Prop Up Markets

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International

Asia

  • Asian stock indexes rallied as President Obama announced that he and congressional Republicans might have reached a deal to avoid a fiscal cliff.
  • The Nikkei climbed 1.43 percent; S&P/ASX 200 gained 0.57 percent; Hang Seng rose 0.49 percent; KOSPI advanced 0.93 percent; the Shanghai Composite increased 0.11 percent.

Europe

  • European stock indexes gained as investors grew optimistic that the U.S. might find a solution for the fiscal cliff. Look for increases in the Vanguard MSCI Europe ETF (NYSEArca:VGK).

Domestic

  • U.S. stock futures advanced as President Obama stated that he could soon end the fiscal discussion with congressional Republicans with an announcement of a deal.
  • Analysts estimate that existing home sales fell from 4.75 million in September to 4.7 million in October.

Earnings

No major earnings news affecting ETFs today.

Commodities

All commodities news is as of 6:35 a.m. ET.

Gold and Silver Advanced

  • Gold rose 0.62 percent, or $10.57, to $1724.32. Expect increases in the SPDR Gold Shares (NYSEArca:GLD).
  • Silver climbed 1.14 percent, or $0.37, to $32.70. Expect ascents in the iShares Silver Trust (NYSEArca:SLV).

WTI and Brent Oil Gained

  • The January contract for WTI crude oil rose 1.12 percent, or $0.97, to $87.89 per barrel.
  • The January contract for Brent crude oil climbed 0.68 percent, or $0.74, to $109.69 per barrel.
  • Expect growth in both the United States Oil Fund (NYSEArca:USO) and in the United States Brent Oil Fund (NYSEArca:BNO).

Fund Flows

None as of yet today

ETF Launches

None as of yet today

ETF Filings

None as of yet today

Economic Calendar

Domestic

  • Existing Home Sales - 10:00 a.m. ET
  • Housing Market Index - 10:00 a.m. ET

Asia

  • Japan

◦      Bank of Japan Announcement - TBD

  • Australia

◦      RBA Meeting Minutes - 7:30 p.m. ET

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , ETFs

Referenced Stocks: BNO , GLD , SLV , USO , VGK

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