Most U.S. index ETFs were lower as stocks were quiet ahead of the long Memorial Day weekend. S&P 500 funds remained in buy range after breaking out Thursday.
Emerging markets showed bigger gains. IShares Core MSCI Emerging Markets (IEMG) and iShares MSCI Emerging Markets (EEM) were up 0.3% each, thanks to 1%-plus gains in Brazil’s Ibovespa and Egypt’s EGX 30 index.
Gold and other precious metals gained. VanEck Vectors Junior Gold Miners (GDXJ) rose 0.8%. It’s still 6% below its 50-day moving average, where it’s found resistance since mid-April. VanEck Vectors Gold Miners (GDX) also added 0.8%.
SPDR Gold Trust (GLD) and iShares Gold Trust (IAU) advanced 0.8% and 0.7%, respectively. Both ETFs are working on cup-with-handle bases with respective buy points at 123.17 and 12.54. Gold prices were up 0.8% to $1,266.00 an ounce.
VanEck Vectors Junior Gold Miners (GDXJ) was up 1.3%, while VanEck Vectors Gold Miners (GDX) was up 1%. Both are more than 20% below their 52-week highs and trading below their 50-day and 200-day moving averages,
ETFS Physical Platinum (PPLT) gapped up and rose 1.1%, back well above its 50-day line for the first time in over a month. ETFS Physical Palladium (PALL) popped 2.5% and is testing resistance at its 50-day moving average.
Oil plays were also higher as West Texas intermediate crude futures surged 1.3% to $49.54 a barrel ahead of Baker Hughes’ weekly rig count due out at 1 p.m. ET.
VanEck Vector Oil Services (OIH) lifted as much as 0.4%, while SPDR S&P Oil & Gas Exploration & Production (XOP) was up 0.1%. United States Oil (USO) and PowerShares DB Oil (DBO) rose 2.1% and 1.8%, respectively.
Find out what’s happening in the stock market today.
This Article Was Originally From *This Site*
Powered by WPeMatico