A late bounce in the SPDR S&P 500 ETF (NYSEArca: SPY) wasn’t enough to salvage Friday as the exchange traded fund (ETF) closed with a 0.4% loss. A government shutdown appeared likely as lawmakers in Washington seemed unable to reach a compromise over the U.S. budget late Friday.
The big story in metals markets Friday was the rally in silver that pushed futures well over $40 an ounce.
An exchange traded fund (ETF) following the dollar’s movements fell nearly 1% on Friday to a fresh 52-week low.
PowerShares DB US Dollar Bullish Fund (NYSEArca: UUP)
For full disclosure, Tom Lydon’s clients own SLV.
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