NASDAQ WEEKLY MARKET PULSE
JULY 10, 2013
The recent sell-off in U.S. equities was reversed during the week-over-week period. Positive economic data has helped bring the U.S. stock market to within striking distance of all-time highs. The NASDAQ US 1500 INDEX rose 2.8%.
"The ‘risk-on’ trade seems to be back as investors have put worries about Fed ‘tapering’ aside. The U.S. looks particularly attractive compared to other markets lately as China’s growth seems to be slowing,” said Dave Gedeon, Managing Director, NASDAQ OMX Global Indexes. “Crude oil and energy stocks have been helped by U.S. economic data and the turmoil in Egypt.”
INDEX MOVES THIS WEEK
The NASDAQ Internet Index (QNET) rose 3.1% on the strong price performance of a number of U.S. large cap internet stocks. Smaller cap stocks represented by the broad NASDAQ 1500 Index (NQUSS1500) also rose 2.8%.
Gold and silver have continued to be weak due to a lack of inflation and continued concerns about Chinese growth. The PHLX Gold/Silver Sector Index (XAU) dropped 6% over the most recent, holiday-shortened 4 trading day period.
Finally, as noted above, Chinese stocks were weak due to manufacturing and growth data, while crude oil has been rallying on lower inventories and geopolitical tensions. The NASDAQ China Index (NQCN) fell 2.6% while the PHLX Oil Service Sector Index (OSX) rose 4.0%
|TOP 5 COMMODITY INDEXES:||7/02 - 7/09|
|PHLX GOLD/SILVER SECTOR INDEX (XAU)||-6.0%|
|PHLX OIL SERVICE SECTOR INDEX (OSX)||+4.0%|
|NASDAQ CRUDE OIL INDEX ER (NQCICLER)||+3.9%|
|NASDAQ COMMODITY NATURAL GAS INDEX ER (NQCINGER)||+3.4%|
|NASDAQ COMMODITY BRENT CRUDE INDEX ER (|
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.