ETF Morning Call: 'Cliff' Talks Prop Up Markets


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  • 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.


  • 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).


  • 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.


No major earnings news affecting ETFs today.


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


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


  • Japan

◦      Bank of Japan Announcement - TBD

  • Australia

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

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This article appears in: Investing , ETFs
More Headlines for: BNO , GLD , SLV , USO , VGK

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