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.
In commodities markets, U.S. Oil Fund (NYSEArca: USO) rose nearly 3% as crude futures topped $113 a barrel.
The big story in metals markets Friday was the rally in silver that pushed futures well over $40 an ounce.
The iShares Silver Trust (NYSEArca: SLV) added nearly 3%. The ETF’s silver-bullion holdings rose to record levels this week, while the metal’s strength also lifted silver-miner funds.
The iShares MSCI Japan Index Fund (NYSEArca: EWJ) rose about 2% in U.S. trading Friday after the Nikkei Stock Average closed higher in Japan.
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.