Equity markets are continuing to drift higher into the new year, with domestic indexes rising nicely on Wednesday after the markets digested a plate of encouraging economic data. Investors were cheerful about the positive jobs data, which showed the private-sector adding 297,000 jobs, coupled with a better-than-expected ISM non-manufacturing report. On the commodities front, gold has gotten kicked around this week, with the yellow metal trading slightly lower on Wednesday, struggling to works its way up following the sharp sell-off on Tuesday. Wall-Street has a lineup of earnings due out this week, along with jobless claims coming into focus Thursday, and then finally capped-off by testimony from Ben Bernanke before the Senate Budget Committee on Friday [see also Announcing the FREE ETFdb iPhone App].
Commodities have gotten off to a rocky start this week, but yesterday's solid earnings report from key commodity producer Mosaic has given analysts reason to hope that the bull market in agriculture will continue well into 2011. Due to this estimate-beating performance, as well as upbeat comments from Mosaic executives, investors are sure to keep an eye on Monsanto
Monsanto's earnings release will be closely followed by traders and investors alike, and for that reason, today's ETF to watch is the Market Vectors Agribusiness Fund
Monsanto's earnings report will surely impact investor sentiment, and the guidance that the company offers will offer insight into the future of the agribusiness sector as a whole. MOO is likely to see active trading today as investors and traders will scramble to add/subtract to their positions, based on the outlook for the whole sector and any additional comments that Monsanto makes regarding the health of its in-focus industry.
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Disclosure: Photo courtesy of Stan Shebs. No positions at time of writing.
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