ADVISORY, Sept. 4, 2013 (GLOBE NEWSWIRE) -- During the holiday-shortened trading period, the crisis in Syria appeared to weigh on European stocks, while the NASDAQ-100 Index (-0.99%) finished marginally lower. Also, metals were under pressure with speculation of Fed tapering early this fall leading some traders to unload their positions.
"As the world powers meet internally to decide next steps on the Syrian crisis, the potential conflict's influence on the market weighed most heavily on the emerging European economies, while other sectors, such as technology, shook off the news and focused on pending new product launches," said Dave Gedeon, Managing Director, NASDAQ OMX Global Indexes. "In what is becoming a recurring trend, investors continued to flee from bond funds as rates continue their march upwards and the tapering talk continues to gain momentum."
TOP INDEX MOVERS
LAST 5 TRADING DAYS (+/-)
NASDAQ EM EUROPE INDEX (NQEMEU)
NASDAQ EUROPE INDEX (NQEU)
NASDAQ EMEA INDEX (NQEMEA)
NASDAQ DM EUROPE INDEX (NQDMEU)
NASDAQ OMX CEA SMARTPHONE INDEX (QFON)
PHLX GOLD/SILVER SECTOR INDEX (XAU)
NASDAQ COMMODITY NATURAL GAS INDEX ER (NQCINGER)
NASDAQ COMMODITY INDUSTRIAL METALS INDEX ER (NQCIIMER)
NASDAQ COMMODITY PRECIOUS METALS INDEX ER (NQCIPMER)
NASDAQ COMMODITY LEAN HOGS INDEX ER (NQCILHER)
OTHER NOTABLE INDEX DEVELOPMENTS
- An imminent attack on Syria was the main catalyst to Europe's underperformance. The NASDAQ EM Europe Index (-3.67%) and NASDAQ Europe Index (-2.46%) dropped on these fears.
- The precious metals space fell this past week as well, as the PHLX Gold/Silver Sector Index and the NASDAQ Commodity Precious Metals Index ER lost 6.75% and 2.25%, respectively.
- Natural gas futures climbed to a five-week high on concerns that the current heat wave in New York might increase demand. The NASDAQ Natural Gas Index ER (NQCINGER) climbed by 2.69% since last Tuesday.
*This first appeared on www.nasdaq.com
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