Equity benchmarks finally snapped their losing streak as investors rejoiced over better-than-expected economic data on the home front. The Nasdaq led the way higher for a second day in a row this week, gaining 0.66% as the session drew to a close, while the Dow Jones Industrial Average lagged behind, inching higher by 0.22% on the day. Looming uncertainties from Spain kept a lid on commodities; gold and crude oil futures drifted sideways throughout the day, settling near $1,620 an ounce and $84 a barrel respectively [see Which Gold Miner ETF Has The Highest Correlation To Gold?]. Stocks kicked off the day with a bang as investors cheered on encouraging service sector data; the ISM nonmanufacturing figure for May came in at 53.7% versus the expected 53.5%. Overseas, confidence deteriorated as Euro zone retail sales data missed; this figure contracted by 2.5% versus the previous reading of negative 0.2%. The Bank of Canada kept interest rates [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Gear Up For Turbulence Daily ETF Roundup: XHB Rebounds, VXX Inches Lower Daily ETF Roundup: VXX Jumps With Sell-Off, XHB Plunges Lower ETF Insider: Progress In Greece Will Tip Markets Daily ETF Roundup: XHB Pops On Data, VXX Drops As Bulls Return
Equity benchmarks finally snapped their losing streak as investors rejoiced over better-than-expected economic data on the home front. The Nasdaq led the way higher for a second day in a row this week, gaining 0.66% as the session drew to a close, while the Dow Jones Industrial Average lagged behind, inching higher by 0.22% on the day. Looming uncertainties from Spain kept a lid on commodities; gold and crude oil futures drifted sideways throughout the day, settling near $1,620 an ounce and $84 a barrel respectively [see Which Gold Miner ETF Has The Highest Correlation To Gold?]. Stocks kicked off the day with a bang as investors cheered on encouraging service sector data; the ISM nonmanufacturing figure for May came in at 53.7% versus the expected 53.5%. Overseas, confidence deteriorated as Euro zone retail sales data missed; this figure contracted by 2.5% versus the previous reading of negative 0.2%. The Bank of Canada kept interest rates [...]
Click here to read the original article on ETFdb.com.
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