Stock ETFs ending trading Tuesday with strong gains after Federal Reserve Chair Janet Yellen gave hawkish testimony that lifted bond yields and bank stocks.
SPDR S&P 500 ( SPY ) ended at 233.70, up 0.93, or 0.4%, having rallied from a 0.3% deficit earlier in the day.
In the Fed chief's semiannual monetary report to Congress , Yellen warned about the risk of monetary policy becoming too accommodative.
[ibdchart symbol="BAC" type="daily" size="threequarter" position="leftchart" ]
IShares Core U.S. Aggregate Bond (AGG) fell 0.2% as rising bond yields put downward pressure on bond prices. The ETF, which tracks an index designed to represent the broad bond market, has about 34% of its assets in Treasury securities, 24% in corporate bonds and 19% in mortgage-backed securities. It's up 0.42% this year and yields 2.39%.
Gold tracked by SPDR Gold Shares (GLD ) ended with a 0.1% gain after rallying from a slight loss. Gold miners eased, with VanEck Vectors Gold Miners (GDX) off 0.1%. But VanEck Vectors Junior Gold Miners (GDXJ) jumped 1.3%. The dollar rose 0.2%.
Oil made a strong gain, with United States Oil Fund (USO) climbing 0.5%.
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 ), +0.4%, RS 54
PowerShares QQQ (QQQ), +0.3%, RS 66
SPDR Dow Jones Industrial Average (DIA), +0.5%, RS 59
IShares Core S&P Mid-Cap (IJH), +0.3%, RS 63
IShares Russell 2000 (IWM), +0.3%, RS 69
IShares MSCI EAFE (EFA), -0.2%, RS 40
Vanguard FTSE Emerging Markets (VWO), +0.2%, RS 62
SPDR Gold Shares (GLD), +0.1%, RS 18
United States Oil (USO), +0.5%, RS 57
IShares Core U.S. Aggregate Bond (AGG), -0.2%, RS 20
PowerShares DB U.S.$ Bullish (UUP), +0.2%, RS 33
IPath S&P 500 VIX Short-Term Futures (VXX), -4.3%, RS 1