Bullish fever swept over Wall Street as investors’ confidence saw a massive improvement following the latest European Central Bank rate decision. Surprisingly, the ECB held the benchmark rate unchanged at 0.75%; however, its announcement of the “outright monetary transaction“ plan welcomed buyers as markets favored the newly proposed measures. At home, improvements in weekly jobless claims and ISM nonmanufacturing data also added fuel to the global rally [see also Why Bill Gross Thinks The Fed Is Ruining The Economy]. The spotlight will shift back to the homefront later today as the latest nonfarm payrolls data hits the street. As such, our ETF to watch is the State Street Dow Jones Industrial Average ETF (DIA, B-), which could swing in either direction following the employment report release at the opening bell. Analysts are expecting for 125,000 new jobs versus the last reading of 163,000, while the unemployment rate is expected to remain unchanged at [...] Click here to read the original article on ETFdb.com. Related Posts: The Most Successful ETFs Of All-Time ETFs: The $10 Billion Club UBS Launches Risk On / Risk Off ETNs October ETF Data: Surge In Inflows, Back Above $1 Trillion Alternatives To The 20 Most Popular ETFs
Bullish fever swept over Wall Street as investors’ confidence saw a massive improvement following the latest European Central Bank rate decision. Surprisingly, the ECB held the benchmark rate unchanged at 0.75%; however, its announcement of the “outright monetary transaction“ plan welcomed buyers as markets favored the newly proposed measures. At home, improvements in weekly jobless claims and ISM nonmanufacturing data also added fuel to the global rally [see also Why Bill Gross Thinks The Fed Is Ruining The Economy]. The spotlight will shift back to the homefront later today as the latest nonfarm payrolls data hits the street. As such, our ETF to watch is the State Street Dow Jones Industrial Average ETF (DIA, B-), which could swing in either direction following the employment report release at the opening bell. Analysts are expecting for 125,000 new jobs versus the last reading of 163,000, while the unemployment rate is expected to remain unchanged at [...]
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