SPDR S&P 500 (NYSEArca: SPY) and SPDR Gold Shares (NYSEArca: GLD) were both up more than 1%.
ETFs have seen volume rise during the recent market turbulence. [ETF Trading Volume Spikes with Volatility]
Bernanke’s speech was at the Kansas City Fed Symposium in Jackson Hole.
“The Federal Reserve remains in the spotlight, with many observers wondering what, if anything, Fed officials can do to help promote economic growth,” said BlackRock strategists in a report this week.
“To start, it is important to remember that the Fed has already done quite a bit — it’s announcement that interest rates will remain at a near-zero level for the next couple of years was a dramatic statement and one that many would classify as a de-facto form of easing,” said BlackRock, which manages the iShares ETFs.
The Fed has promised to keep its target interest rate for overnight loans at record lows until mid-2013.
iShares S&P 500 (NYSEArca: IVV)
Full disclosure: Tom Lydon’s clients own GLD and SPY.