NEW YORK ( TheStreet) -- The Federal Reserve extended its stimulus program on Wednesday, saying the economy has improved only gradually. U.S. auto sales, though, have been zooming.
U.S. auto sales have reached multiyear highs, which has implications for financial markets as seen below.
The first chart is of First Trust NASDAQ Global Auto Index (CARZ). The index reached yearly highs, thanks to strong domestic and global demand.
The European economy has vastly improved since Europe's debt crisis, and strong sentiment surrounding the region has pushed European equity indexes to record highs.The recovery of U.S. and European consumer spending should continue to push auto indexes higher, and the strong uptrend represented by the chart below shows no sign of a major pullback. The next chart is of ETFS Physical Palladium Shares (PALL). Palladium is considered a precious metal, known as a less expensive version of platinum. As a precious metal with industrial properties, it generally trades alongside most other metals such as gold. Follow @AndrewSachais This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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