ETF Outlook for Thursday, May 1, 2014
SPDR Dow Jones Industrial Average ETF (NYSE: DIA)
The Dow closed at an all-time high yesterday and DIA was not far behind, closing two cents below the record close set the last trading day of 2013. Leading the index of 30 stocks yesterday was 3M Company (NYSE: MMM), Goldman Sachs Group (NYSE: GS) and Exxon Mobil (NYSE: XOM).
DIA is unchanged on the year and the breakout that is occurring is a major bullish factor for investors that are long stocks. The next two days will either confirm or refute the current breakout and could be setting the stage for how stocks perform this summer.
Market Vectors Unconventional Oil and Gas ETF (NYSE: FRAK)
A gain of 11 percent ...
More...