Monday, 31 August 2009 19:00
City of Industry, CA 09/01/2009 - Investing Ideas industry news provided by Financial News USA. Early and aggressive selling early in the Thursday session was met by even more aggressive buying later in the day, keeping a number of ETFs from retreating into overbought territory.
From a sector perspective, buyers were most interested in financial shares on Thursday, making the Financial Select Sector SPDR ETF (NYSE: XLF) among the better performing sector SPDRS on the day. Up over 1% was the ProShares Ultra Financials ETF (NYSE:UYG).
After moving lower for three consecutive trading days, basic materials ETFs like the iShares Dow Jones Basic Materials Sector Index ETF (NYSE: IYM) staved off early selling to close higher on the day.
Among the country ETFs that are still oversold above the 200-day moving average, the iShares MSCI Hong Kong Index ETF (NYSE: EWH) lost well over 1% on Thursday before rallying later in the session.
Up nearly 1% late in the day was the CurrencyShares Euro Trust ETF (NYSE: FXE). [Read the full article]
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DailyFX provides forex news on the economic reports and political events that influence the currency market. [Read the full article]
If you have funds in an individual retirement account, converting them into a Roth IRA in 2010 presents an unprecedented opportunity to sock away tax-free retirement income.
The IRS is even offering taxpayers a three-year window in 2010 to pay taxes due on a conversion and is removing income limits that have kept higher-income taxpayers from setting up Roth IRAs.
Many taxpayers have been able to convert their traditional IRAs to Roth IRAs since Roth IRAs were created in 1998. However, income limits and other restrictions have kept many taxpayers from converting. If their modified gross income is more than $100,000, they haven't been able to convert. But in 2010, they'll get their first opportunity.
You don't have to wait until then if your modified adjusted gross income -- your income minus certain deductions -- is less than $100,000 and you don't file as "married filing jointly." You could convert in 2009. [Read the full article]
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Last Updated on Thursday, 10 December 2009 22:12