A successful bond auction in Portugal and the heady anticipation of President Obama’s job-stimulus proposals has exchange traded funds (ETFs) moving in a positive direction early this morning.
Gold is the talk of the town this morning as investors flock to the metal and push prices toward a new record. SPDR Gold Shares (NYSEArca: GLD) is also trading at an all-time high, up 0.3% so far today. Prices were last spotted around $1,263 an ounce. [Gold ETFs Are Driving Demand.]
Obama will unveil his new economic stimulus proposals tonight in Ohio. His plan seems largely geared toward small business growth. The three main proposals are: $50 billion in infrastructure investment; permanent extension of research and development tax credits; and tax breaks to let businesses write off 100% of spending on new plants and equipment through 2011. PowerShares Dynamic Building & Construction (NYSEArca: PKB) is up 0.6% so far today. [6 ETFs to Play Obama’s Job Plan.]
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.