Markets

Gold ETF Rises As Trump Rattles Markets; Most S&P Sectors Decline

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Exchange traded funds tracking major stock indexes fell on Monday, as investors nervously eyed the fallout from an immigration measure signed by President Donald Trump.

SPDR S&P 500 ( SPY ) gave up 0.6% on the stock market today as it trades just under a 52-week high of 229.71.

[ibdchart symbol="SPY" type="daily" size="quarter" position="leftchart" ]

Gold ETFs, which are a haven asset, rose on Monday as the new administration's action on immigration continued to draw sharp criticism at home and abroad.

The measure, signed by Trump on Friday, bars refugees from Iraq, Syria, Iran, Sudan, Libya, Somalia and Yemen from entering the United States. While ostensibly aiming at countries seen to harbor or sponsor terrorists, it has been condemned in many circles for causing chaos and as undermining American values.

SDPR Gold Shares ( GLD ) bounced 0.4% higher on Monday.

"Gold prices are slightly higher on a corrective rebound from recent selling pressure that saw prices hit a three-week low last Friday," wrote Kitco senior technical analyst Jim Wyckoff.

Making note of the new U.S. president's immigration measure, Wyckoff added: "This uncertainty and any related world stock market weakness is at least a mildly bullish element for the safe-haven gold market."

Although gold prices rose, VanEck Vectors Junior Gold Miners ( GDXJ ), offering exposure to gold stocks, surrendered early gains of nearly 2% to close lower.

The defensive utility sector was the only sector of the S&P 500 to advance in Monday trading, adding 0.1%.

Amid jitters in the stock market, iPath S&P 500 VIX ST Futures ( VXX ), an exchange traded note, spiked as much as 6.0% intraday. But it closed well off session highs.

The ETN sits 84% below its Feb. 10 peak of 123.40.

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12 Bellwether ETFs

Here's a look at the performance of major exchange traded funds across key asset classes on the stock market today.

The Relative Price Strength ( RS ) Rating measures a stock's price performance over the last 12 months vs. all stocks and ETFs, on a scale of 1 to a best-possible 99.

SPDR S&P 500 ( SPY ), -0.6%, RS 55

PowerShares QQQ (QQQ), -0.8%, RS 61

SPDR Dow Jones Industrial Average (DIA), -0.6%, RS 61

IShares Core S&P Mid-Cap (IJH), -0.8%, RS 66

IShares Russell 2000 (IWM), -1.4%, RS 71

IShares MSCI EAFE (EFA), -0.7%, RS 39

Vanguard FTSE Emerging Markets (VWO), -0.5%, RS 49

SPDR Gold Shares ( GLD ), +0.4%, RS 19

United States Oil (USO), -1.1%, RS 52

IShares Core U.S. Aggregate Bond (AGG), 0%, RS 22

PowerShares DB U.S.$ Bullish (UUP), -0.2%, RS 39

IPath S&P 500 VIX Short-Term Futures ( VXX ), +2.8%, RS 1

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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