This holiday-shortened week was full of surprises as incoming economic data gave investors plenty to speculate about. The week started off with modest gains in anticipation of Thursday’s European Central Bank meeting, at which the decision of interest rate changes was to be announced. The Commerce Department reported an increase in orders for manufactured goods and the price of gold rose as investors continued to hope for a third round of monetary easing. Following the nation’s Independence Day, markets continued to stagnate as the European Central bank lowered its interest rate by 25 basis points, while China’s central bank announced their second interest rate cut in less than a month. News from abroad continued, as England announced the addition of $78 billion in funds to bolster their bond-buying program. Thursday’s positive news of a drop in weekly jobless claims and an addition of 176,000 jobs by private employers did little [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: UUP Gains On Greenback Rally, UNG Sinks Lower Daily ETF Roundup: EWZ Soars on Real, UNG Cools on Profit Taking Daily ETF Roundup: UNG Pops On Warm Weather, VXX Drops Daily ETF Roundup: UNG Soars On Natural Gas Inventory, VXX Sinks Lower Mid Day Roundup: Stocks Pop On Stimulus Hopes After Sour Data
This holiday-shortened week was full of surprises as incoming economic data gave investors plenty to speculate about. The week started off with modest gains in anticipation of Thursday’s European Central Bank meeting, at which the decision of interest rate changes was to be announced. The Commerce Department reported an increase in orders for manufactured goods and the price of gold rose as investors continued to hope for a third round of monetary easing. Following the nation’s Independence Day, markets continued to stagnate as the European Central bank lowered its interest rate by 25 basis points, while China’s central bank announced their second interest rate cut in less than a month. News from abroad continued, as England announced the addition of $78 billion in funds to bolster their bond-buying program. Thursday’s positive news of a drop in weekly jobless claims and an addition of 176,000 jobs by private employers did little [...]
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