2 Very Different Investments Worked Monday. Here's What They Were
Monday brought a tough day to Wall Street, as investors suddenly stopped having faith in the power of technology stocks to help the bull market continue. The Nasdaq Composite posted steep losses along with the small-cap Russell 2000 index, while the broader S&P 500 and the Dow Jones Industrial Average suffered less extreme declines.
The odd thing about the market lately has been that winning plays don't always seem consistent with each other. For instance, on Monday, the price of Ethereum (CRYPTO: ETH) climbed above $4,000 for the first time, lifting shares of Grayscale Ethereum Trust (OTC: ETHE) as well as cryptocurrency exchange company Coinbase Global (NASDAQ: COIN). Yet another key source of strength came from a decided old-school part of the market, as Southern Copper (NYSE: SCCO) helped led raw materials plays higher. Below, we'll look at some of the reasons why both of these investments are doing well.
Stock markets were broadly lower, with the Nasdaq taking the worst hit. Most other markets were relatively steady, with crude oil staying near $65 per barrel, precious metals finishing mixed, the U.S. dollar gaining ground, and 10-year Treasury bond yields moving back up to 1.6%.
Source Fool.com