Tue, May 26, 2:53 PM
- Energy and natural resources stocks are among today's weakest performers as a sharp increase in the dollar destabilized commodity markets.
- Nymex crude oil futures fell 2.8% to its lowest level in a week at $58.03/bbl, while Comex gold fell 1.4% to a two-week low $1,186.90/oz., as upbeat U.S. data on new home sales and consumer confidence helped lift the dollar.
- Adding to oil price weakness was commentary from Goldman Sachs expecting the global oil market to be oversupplied by 1.9M bbl/day this quarter, saying "the market now depends on how U.S. producers will respond to the recent rally and whether low-cost producers can sustainably deliver higher production."
- ETFs: GDX, USO, NUGT, OIL, XLE, GGN, DUST, UCO, SIL, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, UGL, DWTI, ERY, GLDX, DGP, DIG, GLL, DTO, UGLD, DZZ, DUG, BGR, USL, XES, IYE, GLDI, SGDM, IEO, BCX, ASA, SLVP, IEZ, DGL, DNO, DGZ, RING, FENY, PXE, DGLD, PXI, HAP, FIF, PXJ, IRV, PSAU, OLO, SZO, NDP, MXI, RYE, GNR, FXN, TGLDX, GUNR, TBAR, GEUR, UBG, GYEN, BAR, TWTI, OLEM, DDG
BCX vs. ETF Alternatives
The investment seeks high current income and current gains, with a secondary objective of capital appreciation. The fund normally invests at least 80% of its total assets in equity securities issued by commodity or natural resources companies, derivatives
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