Domestic equities gave up gains from Monday’s steep rally today as disappointing economic data sparked concerns and profit taking pressures followed. Selling pressures accelerated towards the end of the trading session and major equity indexes finished the day in red territory. The Nasdaq proved most resilient, shedding 0.07% on the day, while the Dow Jones Industrial Average was hit the hardest, losing 0.33% on the day [see ETF Insider: Do Fundamentals Justify The Wall Street Rally?]. Stocks retreated as investors were less than thrilled about the lackluster economic data releases on the home front. The Case-Shiller home prices report was better-than-expected, but still disappointing; the figure came in at negative 0.8% versus the previous reading of negative 1.1%. U.S. consumer confidence also slipped, which eroded investors’ confidence; this figure came in at 70.2, missing analyst estimates of 71.5, and also falling short of last month’s reading of 71.6. With no major news from overseas, Wall [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: GDX Jumps, VXX Falters Despite Weak Equities Daily ETF Roundup: VXX Jumps, GDX Slumps Seven Surprising ETF Performance Comparisons Daily ETF Roundup: GDX Pops, VXX Drops Daily ETF Roundup: GDX Soars On Inflation Concerns, VXX Drops On Fed Decision
Domestic equities gave up gains from Monday’s steep rally today as disappointing economic data sparked concerns and profit taking pressures followed. Selling pressures accelerated towards the end of the trading session and major equity indexes finished the day in red territory. The Nasdaq proved most resilient, shedding 0.07% on the day, while the Dow Jones Industrial Average was hit the hardest, losing 0.33% on the day [see ETF Insider: Do Fundamentals Justify The Wall Street Rally?]. Stocks retreated as investors were less than thrilled about the lackluster economic data releases on the home front. The Case-Shiller home prices report was better-than-expected, but still disappointing; the figure came in at negative 0.8% versus the previous reading of negative 1.1%. U.S. consumer confidence also slipped, which eroded investors’ confidence; this figure came in at 70.2, missing analyst estimates of 71.5, and also falling short of last month’s reading of 71.6. With no major news from overseas, Wall [...]
Click here to read the original article on ETFdb.com.
Related Posts:
