Thursday Market Wrap: Late Rally Boosts Oil ETF
April 7th 2011 at 1:29pm by John Spence
U.S. Oil Fund (NYSEArca: USO) rose 1.4% Thursday thanks to a late-day surge in crude that pushed futures prices over $110 a barrel.
The oil exchange traded fund (ETF) came into Thursday’s session up 15% over the past three months.
In precious metals, silver ETFs are shining ever brighter as silver prices are pushing towards $40 an ounce.
A $7 billion portfolio of Japanese stocks fell Thursday in U.S. trading following reports the beleaguered country was hit by a magnitude 7.1 earthquake.
U.S. stock ETFs ended Thursday with a slight loss after rising earlier in the session following an upbeat report on jobless claims.
In commodities, ETFs for coffee and base metals rallied again.
Natural-gas ETFs extended their losing streak to five days after a supply report.
In currency ETFs, the euro was little changed after the European Central Bank boosted a key interest rate as expected.
Yen ETFs were higher after a recent slide.
Elsewhere, in bonds, ETFs that invest in Treasuries were lower Thursday as a deadline loomed on the U.S. budget.
The $56.6 billion gold ETF booked a fresh record high but ended the session flat.
Gold and silver miner ETFs were mixed Thursday after their recent breakout.
Global X Silver Miners ETF (NYSEArca: SIL)
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