Happy Anniversary! One year ago today, the markets hit their low. Stocks, exchange traded funds (ETFs) and the economy in general all look a lot different today than they did then.
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.]
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.