Markets had yet another day of mixed economic news, but today, renewed hopes on the Euro Zone front pushed stocks higher. The U.S. Labor Department reported that weekly jobless claims rose last week, the figures falling in line with expectations. Housing starts, however, unexpectedly fell in the month of July. The Philadelphia Federal Reserve’s index of manufacturing activity also showed a bigger-than-expected contraction in August. But investors quickly shrugged off these weaker-than-expected economic reports after German Chancellor Angela Merkel expressed her commitment to do whatever is necessary to keep the currency bloc together, and reiterated her support for ECB President Mario Draghi’s strategy. And with market momentum at its low, stocks will likely continue to be entirely headline driven [see also How To But The Right ETF Every Time]. Global Market Overview: Stocks Advance On Merkel’s Comments The Dow Jones Industrial Average (DIA) had its biggest advance today in almost two weeks, [...] Click here to read the original article on ETFdb.com. Related Posts: Low Cost ETFs: Complete List Of The Cheapest Exchange-Traded Funds Huntington Launches Sector Rotation ETF (HUSE) ETF Insider: Bulls Push Through Uncertainty ETF Insider: Earnings, The Fed, And Spain Oh My! IndexIQ Plans To Close SKOR And Launch Bond ETFs, USCF Files For Currency ETF
Markets had yet another day of mixed economic news, but today, renewed hopes on the Euro Zone front pushed stocks higher. The U.S. Labor Department reported that weekly jobless claims rose last week, the figures falling in line with expectations. Housing starts, however, unexpectedly fell in the month of July. The Philadelphia Federal Reserve’s index of manufacturing activity also showed a bigger-than-expected contraction in August. But investors quickly shrugged off these weaker-than-expected economic reports after German Chancellor Angela Merkel expressed her commitment to do whatever is necessary to keep the currency bloc together, and reiterated her support for ECB President Mario Draghi’s strategy. And with market momentum at its low, stocks will likely continue to be entirely headline driven [see also How To But The Right ETF Every Time]. Global Market Overview: Stocks Advance On Merkel’s Comments The Dow Jones Industrial Average (DIA) had its biggest advance today in almost two weeks, [...]
Click here to read the original article on ETFdb.com.
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