After much anticipation, Ben Bernanke testified before the Senate Banking Committee today, outlining a rather bleak outlook on the state of U.S. growth and more importantly, revealing no hints of further Fed actions to help boost the economy. Whether it be pure ignorance, disillusionment, or an unwavering hope of an elusive safety net coming to the rescue in the near future, markets seemingly shrugged off the Fed chief’s disappointing comments, rationalizing that at some point central bankers will be forced to step in and take action. And with the backing of several bellwether stocks reporting better than expected earnings, U.S. equities rallied: the Dow Jones Industrial Average rose 0.6%, while the S&P came out on top with its 0.7% gain and Nasdaq showed a modest increase of 0.5% [see Risk On ETFdb Portfolio Now Available]. On the corporate earnings front, Coca-Cola (KO) and Goldman Sachs (GS) both exceeded analysts’ estimates by a pretty [...] Click here to read the original article on ETFdb.com. Related Posts: 17 ETFs For Day Traders Daily ETF Roundup: FXI Jumps On China Rally, VXX Turns Lower Daily ETF Roundup: VXX Climbs On Uncertainty, FXI Gaps Lower Daily ETF Roundup: FXI Soars On China Speculation, VXX Slips 8% Daily ETF Roundup: VXX Surges On Greek Woes, FXI Falls On Negative Chinese Outlook
After much anticipation, Ben Bernanke testified before the Senate Banking Committee today, outlining a rather bleak outlook on the state of U.S. growth and more importantly, revealing no hints of further Fed actions to help boost the economy. Whether it be pure ignorance, disillusionment, or an unwavering hope of an elusive safety net coming to the rescue in the near future, markets seemingly shrugged off the Fed chief’s disappointing comments, rationalizing that at some point central bankers will be forced to step in and take action. And with the backing of several bellwether stocks reporting better than expected earnings, U.S. equities rallied: the Dow Jones Industrial Average rose 0.6%, while the S&P came out on top with its 0.7% gain and Nasdaq showed a modest increase of 0.5% [see Risk On ETFdb Portfolio Now Available]. On the corporate earnings front, Coca-Cola (KO) and Goldman Sachs (GS) both exceeded analysts’ estimates by a pretty [...]
Click here to read the original article on ETFdb.com.
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