Stock investors also ran with Bernanke’s seemingly dovish comments. The S&P 500 was on track for a weekly gain of 2.6%, rising for the third straight week. Meanwhile, the Dow climbed 1.9% and the Nasdaq Composite added 3.1%. [Lucky 13 for Nasdaq-100 QQQ ETF?]
Conversely, volatility-linked products such as iPath S&P 500 VIX Short-Term Futures ETN (NYSEArca: VXX) and ProShares Ultra VIX Short-Term Futures (NYSEArca: UVXY) were among the steepest decliners this week. VXX was down nearly 9% for the week.
Next week’s economic data features reports on retail sales, business inventories, consumer prices, homebuilder confidence, housing starts and the Fed’s beige book.
Full disclosure: Tom Lydon’s clients own GLD.
