Stocks marched higher on Wednesday as investors rejoiced over encouraging fundamental economic data on all fronts. In the U.S., better-than-expected manufacturing and employment reports bolstered stocks higher; the Nasdaq led the way higher, gaining 1.22% on the day, while the Dow Jones Industrial Average lagged behind, inching higher by just 0.66%. Euphoria was further bolstered as Facebook filed papers with the SEC for an initial public offering, potentially worth somewhere in the neighborhood of $5 billion [see What Will A Facebook IPO Mean For ETFs]. Gold was flat for most of the session although profit-taking pressures prevailed in the end; futures prices for the precious yellow metal settled near $1,745 an ounce as the trading session drew to a close. On the home front, investors were happy to see that 170,000 private-sector jobs were added according to the latest ADP employment report. Additionally, confidence in the domestic recovery was boosted [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: XHB Pops On Data, VXX Drops As Stocks Rally Daily ETF Roundup: XHB Surges On Housing Starts, VXX Gets Clobbered By Strong Markets Daily ETF Roundup: VXX Soars On Shaky Markets, XHB Flails On Housing Outlook Daily ETF Roundup: VXX Plunges On Debt Ceiling Hopes, XHB Jumps On Housing Starts Number Daily ETF Roundup: VXX Sinks On Market Optimism, XHB Surges On Pulte Report
Stocks marched higher on Wednesday as investors rejoiced over encouraging fundamental economic data on all fronts. In the U.S., better-than-expected manufacturing and employment reports bolstered stocks higher; the Nasdaq led the way higher, gaining 1.22% on the day, while the Dow Jones Industrial Average lagged behind, inching higher by just 0.66%. Euphoria was further bolstered as Facebook filed papers with the SEC for an initial public offering, potentially worth somewhere in the neighborhood of $5 billion [see What Will A Facebook IPO Mean For ETFs]. Gold was flat for most of the session although profit-taking pressures prevailed in the end; futures prices for the precious yellow metal settled near $1,745 an ounce as the trading session drew to a close. On the home front, investors were happy to see that 170,000 private-sector jobs were added according to the latest ADP employment report. Additionally, confidence in the domestic recovery was boosted [...]
Click here to read the original article on ETFdb.com.
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