The first trading week of the year saw U.S. markets surge forward finishing at their highest levels since mid-2001. The Dow gained 2.3% for the week, the S&P 500 was up 3.0% and the NASDQ 4.5%.
Technology was a big topic this week with the Las Vegas Consumer Electronics Show and Circuit City and Best Buy’s strong holiday sales. Exchange traded funds representing the sector include the Technology Select Sector SPDR (XLK) which was up 5% for the week and iShares GS Semiconductor (IGW)was up 9%.
With all the excitement on the domestic front, one can’t ignore the gains made in other parts of the world. Latin America continued its 2005 performance this week with iShares S&P Latin America (ILF) up 8% for the week, iShares MSCI Brazil (EWZ) 10.6% and iShares MSCI Mexico (EWW) 6.1%.
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.