Turning away from gold and Treasuries

August 24, 2011: 1:24 PM ET
Gold chart

Safe haven investments like bonds and gold have sold off sharply in the past two days as investors venture back into more risky assets like stocks. Click the chart for more commodities data.

NEW YORK (CNNMoney) -- Long-term Treasuries are down for a third day in a row, giving equities a boost as investors rotate into other asset classes.

Treasuries tend to do well when recession expectations are rising because in those conditions investors' main priority becomes capital preservation.

So, when durable goods orders for July came in above expectations, it indicated that the economy might not be in as bad a condition as many feared. That news helped SPY (SPY) rally at the opening bell, but most of its gains were shed by midday.

Gold, which has been another harbinger of the safety trade, extended its losses for a second day. Still, the yellow metal is within 5% of its all-time high.

In other news, Sprint (S, Fortune 500) is reportedly joining AT&T (T, Fortune 500) and Verizon (VZ, Fortune 500) as a U.S. mobile carrier to offer Apple's iPhone 5. The market was not impressed. Sprint shares fell 1% and are remain not too far from their 52-week low.

Finding value in chaotic markets

These are among the popular themes on StockTwits on Wednesday:

mktmorph -- $TLT & $GLD will continue to be short term tells for equities. Both rolling over after reaching new highs on very low volume.

EddyElfenbein -- More signs of a Double Dip -- durable goods order rose 4% - wait what? http://stks.co/15M $$

vader7x -- My kind of market .. dr jekyll and mr hyde $$

robpas -- Stage 1 of a crisis situation is you sell what is dear in order to fund losses & liquidity calls- keep in mind & alert- Gold Liquidation $$

Ktr8der -- $UBS sees $AAPL as the real winner in the $S iphone news. Cites costs for sprint.

MercenaryMike -- $S to get iPhone 5 - Could spark a turnaround story worth investigating - need to see positive EPS projections first To top of page

Index Last Change % Change
Dow 32,627.97 -234.33 -0.71%
Nasdaq 13,215.24 99.07 0.76%
S&P 500 3,913.10 -2.36 -0.06%
Treasuries 1.73 0.00 0.12%
Data as of 6:29am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
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