Markets rallied today, as strong readings on the U.S. housing sector boosted stocks. According to the Commerce Department, housing starts increased 15% from August, while the number of building permits ticked 11.6% higher. And after the unforgettable bottoming out of this frustrating segment of the market, the recent positive reports point to the housing sector finally regaining some footing and beginning to show long-term strength. Bogging down the rally, however, were disappointing earnings reports from blue chip International Business Machines (IBM) and tech giant Intel (INTC) [see also How To Pick The Right ETF Every Time]. Global Market Overview: Housing Soars, Earnings Miss All three major major U.S. equity indexes managed to eke out modest gains on the day, bolstered by strong domestic housing data. The Dow Jones Industrial Average (DIA) closed only 0.04% higher, as poor earnings reports from Intel and IBM weighed heavily on blue-chips. Tech-heavy Nasdaq (QQQ) and the S&P 500 (SPY) also inched their way into positive territory, [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Markets At Fed’s Mercy Friday’s ETF Chart To Watch: Dow Jones Industrial Average ETF (DIA) The Most Successful ETFs Of All-Time ETFs: The $10 Billion Club UBS Launches Risk On / Risk Off ETNs
Markets rallied today, as strong readings on the U.S. housing sector boosted stocks. According to the Commerce Department, housing starts increased 15% from August, while the number of building permits ticked 11.6% higher. And after the unforgettable bottoming out of this frustrating segment of the market, the recent positive reports point to the housing sector finally regaining some footing and beginning to show long-term strength. Bogging down the rally, however, were disappointing earnings reports from blue chip International Business Machines (IBM) and tech giant Intel (INTC) [see also How To Pick The Right ETF Every Time]. Global Market Overview: Housing Soars, Earnings Miss All three major major U.S. equity indexes managed to eke out modest gains on the day, bolstered by strong domestic housing data. The Dow Jones Industrial Average (DIA) closed only 0.04% higher, as poor earnings reports from Intel and IBM weighed heavily on blue-chips. Tech-heavy Nasdaq (QQQ) and the S&P 500 (SPY) also inched their way into positive territory, [...]
Click here to read the original article on ETFdb.com.
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