ADVISORY, Aug. 7, 2013 (GLOBE NEWSWIRE) -- U.S. trade data and comments by Federal Reserve chairman Ben Bernanke have fueled concerns that stimulus tapering might start in September. Despite concerns, internet and technology stocks were the drivers over the past five trading days, boosting the NASDAQ Internet Index (QNET) 2.53%.
"Estimates around the timing for tapering in Fed printing are coming out earlier and earlier despite no clear direction from the Fed," said Dave Gedeon, Managing Director of NASDAQ OMX Global Indexes. "The markets appear to be more focused on corporate results from the past quarter and may have priced the tapering in already."
TOP INDEX MOVERS
LAST 5 TRADING DAYS (+ / -)
TOP 5 EQUITY INDEX MOVERS:
NASDAQ INTERNET INDEX (QNET)
PHLX DEFENSE SECTOR INDEX (DFX)
NASDAQ-100 TECHNOLOGY SECTOR INDEX (NDXT)
PHLX UTILITY SECTOR INDEX (UTY)
NASDAQ US 300 INDEX (NQUSL300)
TOP 5 COMMODITY INDEX MOVERS:
PHLX GOLD/SILVER SECTOR INDEX (XAU)
NASDAQ NATURAL GAS INDEX ER (NQCINGER)
NASDAQ CORN INDEX ER (NQCICER)
NASDAQ LEAN HOGS INDEX ER (NQCILHER)
NASDAQ COMMODITY AGRICULTURE INDEX ER (NQCIACER)
INDEX MOVES THIS WEEK
- Hawkish comments by top policymakers' dragged Gold and Silver prices lower, as the PHLX Gold/Silver Sector Index (XAU) dropped by 10.4%. A tightening in asset-purchases will cause interest rates to climb, making precious metals less attractive to own.
- Positive quarterly results in the technology sector have driven the group higher, with the NASDAQ Internet Index (QNET) returning 2.53% over the last five trading days.The NASDAQ-100 Technology Sector Index (NDXT) also outperformed the broader markets, returning 1.73%.
- Cool weather across the Midwest and Eastern US during August weighed on Natural Gas prices which dropped to a five month low. The NASDAQ Natural Gas Index ER (NQCINGER) fell by 4.7%.
*The Weekly Market Pulse was first published on www.nasdaq.com
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