July 27, 2011 at 18:38 PM EDT
ETF Insider: Default Fears Destabilize Markets
Wall Street started the week once again in red territory as investors remain reluctant to jump back into the equity markets given the ongoing uncertainty surrounding the debt-ceiling controversy at home. Gold continues to charge higher as the precious metal opened above $1,600 an ounce on Monday morning. Earnings season is well underway and so far corporate performance results have been mostly surprises to the upside. Nonetheless, equity markets have broadly declined since the beginning of the week as investors remain fearful of the consequences likely to arise if Congress doesn’t act quick and come up with a plan. Gold surged to new all-time highs on Wednesday, with futures prices hitting $1,631 an ounce, as several rating agencies have issued warnings that failure to raise the debt ceiling would trigger a downgrade of U.S. government debt. Crude oil on the other hand has drifted lower since Monday, and futures prices [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Bullish On Equities Three ETFs To Watch This Week: FXE, EWJ, EXI Three ETFs That Could Be Crushed By Housing Double Dip Three ETFs To Watch This Week: BRF, FXE, ENZL Three ETFs To Watch This Week: EWJ, FXE, NORW
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