Daily ETF Roundup: XLF Rallies, VNQ Sinks Alongside REITs

After a rather lackluster open, U.S. equities managed to log in modest gains as investors weighed today’s tepid economic data. According to the Labor Department, weekly jobless claims unexpectedly increased by 10,000 to 354,000 last week; analysts were expecting the figure to come in at 340,000. In a separate report, the U.S. economy grew at a 2.4% annual rate during the first quarter, slightly lower than the initial estimate of 2.5%. Meanwhile, the National Association of Realtors reported pending home sales rising 0.3% in April to the highest level in three years. Considering today’s underwhelming U.S. economic data, many investors are now expecting the Fed to continue its bond-buying program, at least in the near future [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: XLF Rallies, VNQ Sinks Alongside REITs Despite today’s downbeat economic reports, all three major U.S. equity indexes managed to close in positive territory. The Dow Jones [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: S&P Posts Record High, XLF And XLE Rally Daily ETF Roundup: XLF Rises After Berkshire Earnings, EWM Soars On Malaysian Elections Daily ETF Roundup: Stocks Close Sharply Lower Daily ETF Roundup: SDY Slumps Alongside High-Yield Sectors, GDX Rips Higher Daily ETF Roundup: KBE Pops As Banks Charge Ahead, UST Slumps