NASDAQ Weekly Market Pulse: Green economy stocks lead market to new highs and strong US dollar leads precious metals to 2 ½ year lows on May 22, 2013

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GREEN ECONOMY STOCKS LEAD MARKET TO NEW HIGHS WHILE STRONG US DOLLAR DRIVES PRECIOUS METALS TO 2 ½ YEAR LOWS

Strong earnings reports from key companies in the Green Economy sparked a rally in the NASDAQ OMX Green Economy Index (QGREEN) this week, leading equities markets higher. Meanwhile, silver and gold remained under pressure with the PHLX Gold/Silver Sector Index (XAU), a measure of gold and silver mining stocks, dropping 3.8%.

“Precious metals have experienced volatile trading this week, dropping to its lowest level in two and a half years,” said Dave Gedeon, Managing Director, NASDAQ OMX Global Indexes. “Changing inflation expectations and sustained strength in the US Dollar has curbed the demand for gold and silver as a long-term investment vehicle.”

TOP WEEKLY INDEX MOVERS  (+ / -)

 
TOP 5 EQUITY INDEXES:  5/22/13 
NASDAQ BIOTECHNOLOGY INDEX (NBI)  -2.5%              
NASDAQ OMX Green Economy Index (QGREEN)  +2.1% 
NASDAQ Technology Dividend Index (NQ96DIVUS)  +2.0%   
PHLX Defense Sector (DFX)  +1.8%      
NASDAQ OMX Global Water (GRNWATERL)  +1.8%      
 
TOP 5 COMMODITY INDEXES:  5/22/13 
NASDAQ COMMODITY NATURAL GAS INDEX ER (NQCINGER)  +4.2% 
NASDAQ Commodity Silver Index ER (NQCISIER)  -4.0%        
PHLX Gold/Silver Sector (XAU)  -3.8%          
NASDAQ COMMODITY GOLD INDEX ER (NQCIGCER)  -3.3%             
NASDAQ COMMODITY AGRICULTURAL INDEX ER (NQCIACER)  -2.7%                

OTHER NOTABLE INDEX MOVES 

  • The NASDAQ OMX Green Economy Index (QGREEN) gained 2.1% this week, leading all equity market sectors.
  • The NASDAQ Biotechnology Index (NBI) dropped 2.5% this week on profit-taking after a 6.6% gain last week.
  • NASDAQ Commodity Natural Gas Index ER (NQCINGER) gained 4.2% this past week as forecasts for warmer-than-normal weather suggested likely increased demand from power plants.
  • Going forward, US markets will be watching the April New Homes Sales figures on Thursday and April Durable Goods Orders on Friday, data that is likely to be a market catalyst heading into the extended holiday weekend. For moves in the housing sector, keep an eye on the PHLX Housing Sector Index (HGX).
  • In addition, the May Consumer Demand Index report will be released on Friday.


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: Nasdaq.com Blog , Commodities , Technology

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