Dow Jones hits new high – Trade Indices NOW

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Dow Jones ETN Hits New 52-Week High

F or investors seeking momentum, ELEMENTS Dogs Of The Dow Linked To The Dow Jones High Yield Select 10 Total Return Index DOD is probably on radar now. The note just hit a 52-week high and is up more than 57% from its 52-week low price of $18.42/share.

But are more gains in store for this ETN? Let’s take a quick look at the product and the near-term outlook on it to get a better idea on where it might be headed:

DOD in Focus

This is an ETN option and provides investors pure play to the 10 highest dividend-yielding securities in Dow Jones Industrial Average in equal proportions. It charges investors 75 bps in annual fees (see: all the Large Cap ETFs here ).

Why the Move?

Since the Dow Jones index hit a 25,000-mark on Jan 4, the product soared higher. Strong manufacturing data, an oil price recovery, uptick in the global economic growth and a Trump bump led to this surge.

More Gains Ahead?

The ETN has a positive weighted alpha of 70.20 . A positive weighted alpha hints at more gains. As a result, there is definitely some promise for investors who want to ride on this surging product.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Dow Jones hits new high as global rebound still intact

Stocks on Wall Street have opened higher as financial markets have put behind the nervousness that had beset them after Donald Trump’s election victory. Investors were surprisingly upbeat also in other world regions.

The Dow Jones industrial average hit a new all-time high, opening 0.7 percent stronger on Wall Street Thursday as investors seemed to return to “business as usual” after Donald Trump’s election victory.

The broader S&P 500 index was up 0.6 percent, with the technology-focused Nasdaq composite gaining 0.6 percent after trading started, before shedding some 2 percent in early trading. Banks and other financial stocks logged the biggest jumps.

Developments on Wall Street reflected the upbeat mood among investors in other parts of the world which also experienced a rebound in share prices, meaning that the market mood had turned around dramatically since the immediate aftermath of Trump’s victory, which had prompted widespread, but only temporary selling.

The only way is up

Earlier in the day, Asian shares posted hefty surges as they responded to the optimism in Europe and the US the night before. Japan’s benchmark Nikkei 225 was the standout performer, rocketing 6.7 percent after sliding more than 5 percent on Wednesday.

Bloomberg

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