U.S. equities extended their losing streak today, marking one of the longest slumps for the broad market in almost two months. Once again, positive U.S. data was quickly overshadowed as investors’ focus shifted towards more looming concerns over this quarter’s earnings season and the teetering state of the global economy. A better than expected decline in initial jobless claims did nothing today to help bolster U.S. stocks: the Dow Jones Industrial average fell 0.25%, while the S&P dropped 0.5%, and Nasdaq came in at the bottom of the barrel with its loss of 0.75% [see also Seven Simple & Cheap ETF Model Portfolio]. The U.S. reported a fall in initial jobless claims of 26,000 for the week ended July 7. Overseas, the island nation of Australia also released its labor market data: the number of employed in Australia dropped by 27,000 in the month of June, the unemployment rate, however, remained [...] Click here to read the original article on ETFdb.com. Related Posts: Direxion Files For Non-Leveraged ETFs ETF Insider: Data Back In Focus As Stimulus Hopes Fade Thursday’s ETF Chart To Watch: SPDR Homebuilders ETF (XHB) Mid Day Roundup: Stocks Floating On Hope Thrifty Investors Behold: Cheapest ETF In Every Category
U.S. equities extended their losing streak today, marking one of the longest slumps for the broad market in almost two months. Once again, positive U.S. data was quickly overshadowed as investors’ focus shifted towards more looming concerns over this quarter’s earnings season and the teetering state of the global economy. A better than expected decline in initial jobless claims did nothing today to help bolster U.S. stocks: the Dow Jones Industrial average fell 0.25%, while the S&P dropped 0.5%, and Nasdaq came in at the bottom of the barrel with its loss of 0.75% [see also Seven Simple & Cheap ETF Model Portfolio]. The U.S. reported a fall in initial jobless claims of 26,000 for the week ended July 7. Overseas, the island nation of Australia also released its labor market data: the number of employed in Australia dropped by 27,000 in the month of June, the unemployment rate, however, remained [...]
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