The bulls and the bears clashed on Wall Street today as investors digested encouraging economic data while profit taking temptations intensified. Back-and-forth trading paved the way for an all around volatile day in the markets as indexes oscillated between multi-year highs and intraday-lows. Although fundamental news were positive, equity benchmarks at home ended the trading session in red territory as the dust settled. The Dow Jones Industrial Average proved most resilient, shedding 0.41% on the day, while the Nasdaq led the way lower, inching lower by 0.67%. Following yesterday’s disappointing durable goods orders data, investors were more than pleasantly surprised today as fourth quarter GDP results came in well above expectations. Economic growth came in at 3%, which was well above analyst estimates of 2.7%, while also surpassing the previous reading of 2.8%. The real action came as Ben Bernanke testified before Congress; the Fed Chairman was reluctant to say that conditions [...] Click here to read the original article on ETFdb.com. Related Posts: 10 Strange But True Facts About The ETF Industry ETF Insider: Which Way Will The Bulls Run? September’s ETF Studs: Five Funds That Thrived During A Wild Month ETF Insider: Can Earnings Trump Euro Drama? Five ETFs To Watch Ahead Of Ben Bernanke’s Jackson Hole Speech
The bulls and the bears clashed on Wall Street today as investors digested encouraging economic data while profit taking temptations intensified. Back-and-forth trading paved the way for an all around volatile day in the markets as indexes oscillated between multi-year highs and intraday-lows. Although fundamental news were positive, equity benchmarks at home ended the trading session in red territory as the dust settled. The Dow Jones Industrial Average proved most resilient, shedding 0.41% on the day, while the Nasdaq led the way lower, inching lower by 0.67%. Following yesterday’s disappointing durable goods orders data, investors were more than pleasantly surprised today as fourth quarter GDP results came in well above expectations. Economic growth came in at 3%, which was well above analyst estimates of 2.7%, while also surpassing the previous reading of 2.8%. The real action came as Ben Bernanke testified before Congress; the Fed Chairman was reluctant to say that conditions [...]
Click here to read the original article on ETFdb.com.
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