American stocks had a weak Tuesday session as all the major
benchmarks trended lower in the day's trading. The Dow finished the
session lower by about half a percent, while the S&P 500 and
the Nasdaq had more moderate losses of, respectively, 0.4% and
In terms of sector performances, tech, energy, health care, and
utilities all finished the day in the red while banks, mining firms
and a few consumer product firms bucked the trend and finished in
the green. Leading the way on the upside was Citigroup with a 2.5%
gain while mining giant Freeport McMoRan added about 3.2%.
Meanwhile, losers were led by a nearly 2% slump in Verizon, while
Merck wasn't too far behind for the large cap decliners.
The dollar was again weaker in currency trading, as the euro led
the way higher adding about 1% on the session. Rates did move lower
for the American ten year, although Germany and the UK did see
modest increases in their rates for the Tuesday session (read
Build a Complete Portfolio with These Three
Commodity markets were more favorable overall, as broad indexes
rose on the back of broad gains in the energy, metals, and soft
commodity markets. Leading the way higher was a 2% jump in copper,
2.2% gain in silver, and nearly 3% moves higher for both cotton and
In ETF trading, investors saw the trend of light volume
continue, although it is finally beginning to pick back up closer
to normal levels. This has been led by solid activity levels in the
commodity market as well as decent bond trading during Tuesday's
What Happened to the Rare Earth Metal ETF?
One product in particular that saw an outsized level of volume
in Tuesday's trading was the
iPath DJ-UBS Sugar TR Sub Index ETN (
. This ETN, which tracks sugar futures prices, saw volume that was
about triple the daily average for the note.
Undoubtedly, much of this volume stemmed from the weakness in
sugar prices as of late, as SGG lost another 3.3% during Tuesday's
trading. Now, the product is down 17.6% in the past one month
period and with
more Indian government releases
of supplies, prices could continue to trend towards SGG's 52 week
low in the near term.
Another ETF that saw a great deal of interest in Tuesday's
session was the
Market Vectors Uranium and Nuclear Energy ETF (
. This product has been seeing solid volume levels for a few days
now and it continued the trend in Tuesday's session with volume
that was roughly six times the normal level (see
Uranium ETF Meltdown: Can Nuclear Power Bounce
However, investors should note that block trading again
dominated this fund during Tuesday's session, as activity was
especially intense in the first part of the session. Still, it has
been some positive volume as of late, as NLR was up about 33 basis
points today, continuing the fund's one month trend which has seen
the product add about 6.7% in the time frame.
(see more in the
MKT VEC-NUCLEAR (NLR): ETF Research Reports
IPATH-DJ-A SUGR (SGG): ETF Research Reports
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