A five-year-long link between crude oil and gold has come apart as the economic recovery boosts energy consumption and lowers the metal’s appeal as a haven, encouraging investors to buy oil and sell gold.
Today we "energize" our portfolio based on data collected from Ned Davis Research. Of the 10 industry groups that comprise the S&P 500 Index, the energy sector posted the highest upside surprise to analyst estimates for the nearly completed first quarter reporting season.
Treasuries fell, with benchmark 10- year yields rising for the first time in four weeks, as an accord aimed at ending the crisis in Ukraine and signs of a strengthening U.S. economy crimped refuge demand.
Treasuries fell as reports showed initial jobless claims were lower than forecast last week and a manufacturing index expanded, adding to speculation the Federal Reserve will raise interest rates at some point next year.