U.S. equity markets staged a rally today as investors focused on upbeat economic commentary from the latest Fed Beige Book report. On the home front, the Nasdaq took the lead for another day, gaining 2.40% as the session ended, while the S&P 500 barely lagged behind, inching higher by 2.30%. Amidst the buying euphoria on Wall Street, the price of gold drifted sideways while oil popped; futures prices for the yellow metal and crude oil settled near $1,620 an ounce and $85.50 a barrel respectively [see also 25 Things Every Financial Advisor Should Know About Commodities]. The Fed commented today that the U.S. economy had maintained a “moderate pace of growth” in May, bolstered by improvements in factory output as well as the real estate market. Hopes for additional stimulus intensified after Atlanta Fed President Dennis Lockhart mentioned that an extension of “Operation Twist” remains a viable option for the Fed. In international news, [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: UNG Jumps Again, VXX Continues Freefall Daily ETF Roundup: XHB Rises With ISM Data, VXX Sinks Lower Daily ETF Roundup: GDX Turns Higher On Sour Data, VXX Creeps Lower Daily ETF Roundup: GDX Soars With Gold, VXX Creeps Lower Daily ETF Roundup: VXX Springs Higher, EWZ Gives Up Gains
U.S. equity markets staged a rally today as investors focused on upbeat economic commentary from the latest Fed Beige Book report. On the home front, the Nasdaq took the lead for another day, gaining 2.40% as the session ended, while the S&P 500 barely lagged behind, inching higher by 2.30%. Amidst the buying euphoria on Wall Street, the price of gold drifted sideways while oil popped; futures prices for the yellow metal and crude oil settled near $1,620 an ounce and $85.50 a barrel respectively [see also 25 Things Every Financial Advisor Should Know About Commodities]. The Fed commented today that the U.S. economy had maintained a “moderate pace of growth” in May, bolstered by improvements in factory output as well as the real estate market. Hopes for additional stimulus intensified after Atlanta Fed President Dennis Lockhart mentioned that an extension of “Operation Twist” remains a viable option for the Fed. In international news, [...]
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