ADVISORY, July 24, 2013 (GLOBE NEWSWIRE) -- Gold and silver mining stocks soared over the past five trading days as the PHLX GOLD/SILVER SECTOR INDEX (XAU) rose 10.2%. Overall, U.S. stocks moved modestly higher as earnings season got into full swing and investors became more comfortable with the U.S. monetary policy outlook. U.S. housing and defense sector stocks were stronger, while technology was weaker. The PHLX DEFENSE SECTOR INDEX (DFX) rose 2.4% during this time period.
"Both stock and commodity markets moved higher, as investors have now digested potential Federal Reserve asset purchase slowdowns and earnings season has progressed so far without downside surprises," said Dave Gedeon, Managing Director, NASDAQ OMX Global Indexes.
TOP WEEKLY INDEX GAINERS
TOP 5 EQUITY INDEXES:
NASDAQ CHINA INDEX (NQCN)
PHLX DEFENSE SECTOR INDEX (DFX)
NASDAQ DM EUROPE INDEX (NQDMEU)
NASDAQ EUROPE INDEX (NQEU)
NASDAQ EMEA INDEX (NQEMEA)
TOP 5 COMMODITY INDEXES:
PHLX GOLD & SILVER INDEX (XAU)
NASDAQ COMMODITY GOLD INDEX ER (NQCIGCER)
NASDAQ COMMODITY PRECIOUS METALS INDEX ER (NQCIPMER)
PHLX OIL SERVICE SECTOR INDEX (OSX)
NASDAQ COMMODITY NATURAL GAS INDEX ER (NQCINGER)
OTHER NOTABLE INDEX DEVELOPMENTS THIS WEEK
- Gold continued its month-long rally off of June lows. The PHLX GOLD/SILVER SECTOR INDEX (XAU), which tracks companies involved in the gold or silver mining industry, rose 10.2%.
- Energy stocks and commodities have seen strength recently, perhaps helped by Chinese Premier Li's comments that GDP growth below 7% is "unacceptable". Over the 5-day period ending July 23rd, the NASDAQ COMMODITY GOLD INDEX ER (NQCIGCER) and the NASDAQ COMMODITY PRECIOUS METALS INDEX ER(NQCIPMER) are both up 3.3% and the PHLX OIL SERVICE SECTOR INDEX (OSX) rose 2.5%
- The FHFA House Price Index rose for the 16th straight month. Housing has been a driver for the U.S. recovery and the PHLX HOUSING SECTOR INDEX (HGX) rose 1.4% for the period.
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