Stocks, ETFs Waver as Markets Mark Anniversary
March 9th, 2010 at 10:00am by Tom Lydon
Wall Street seems to be taking a break to pause and reflect this morning in the absence of market-moving economic reports or fourth-quarter earnings reports. While equities have had a volatile start to the year, the MSCI All-Country World Stock Index tells the story of where we’ve been and where we are now: since March 9, 2009, it’s up 73%. The Vanguard Total World Stock Index (NYSEArca: VT), which tracks the FTSE All-World Index, is up 77.2% since the low. [9 ETFs for Dollar Bears and Bulls.]
Oil prices sank to day as the dollar gained strength. The pause is likely because of profit-taking after a monthlong rally in energy prices, fueled by investor optimism and global economic growth. A stronger dollar makes oil more expensive for overseas buyers, sending demand south. United States Oil (NYSEArca: USO) and PowerShares DB U.S. Dollar Bullish (NYSEArca: UUP) are slightly down and up this morning, respectively. [4 Things Fueling the Gas ETF Rally.]
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