Investor optimism on Wall Street got a nice boost yesterday after European officials made the first steps towards devising a “rescue plan” for the debt stricken currency bloc. EU leaders in Brussels reached an agreement on a bank recapitalization plan and news that China might help finance the effort also cheered up investors. One the home front, the U.S. durable goods report showed mixed results; the figure declined by 0.8% since last month, but excluding transportation, durable goods orders in September were up 1.7%. Gold soared higher alongside equities, with futures prices for the precious yellow metal hitting a multi-week high of $1,728 an ounce. Third quarter U.S. GDP is slated to come out later today and analysts are expecting for growth to come in at 2.8%, which is considerably higher that the previous reading of 1.3%. Investors will pay close attention to this major economic report as it offers [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: PBW Sinks On Europe Woes, GLD Soars On Euro Drama ETF Insider: Bulls In Drivers Seat ETF Insider: Which Way Will The Bulls Run? ETF Insider: All In Green Alternatives To The 20 Most Popular ETFs
Investor optimism on Wall Street got a nice boost yesterday after European officials made the first steps towards devising a “rescue plan” for the debt stricken currency bloc. EU leaders in Brussels reached an agreement on a bank recapitalization plan and news that China might help finance the effort also cheered up investors. One the home front, the U.S. durable goods report showed mixed results; the figure declined by 0.8% since last month, but excluding transportation, durable goods orders in September were up 1.7%. Gold soared higher alongside equities, with futures prices for the precious yellow metal hitting a multi-week high of $1,728 an ounce. Third quarter U.S. GDP is slated to come out later today and analysts are expecting for growth to come in at 2.8%, which is considerably higher that the previous reading of 1.3%. Investors will pay close attention to this major economic report as it offers [...]
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