U.S. equities ended near session lows after several disappointing economic reports curbed bullish momentum today. The Labor Department reported a surprise uptick in jobless benefits, which posted the biggest one-week increase since November. Meanwhile U.S. building permits topped analysts’ expectations, while housing starts for April declined, posting its weakest reading since November. The Federal Reserve Bank of Philadelphia’s May index of business activity also fell unexpectedly. Investors also paid close attention to Federal Reserve Bank of San Francisco President John Williams comments, which indicated that he is open to the central bank scaling back its bond-buying program in coming months [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: IGN Pops After Cisco Earnings, XLV Slumps Following a slew of disappointing economic reports, all three major U.S. equity indexes slid to close in negative territory. The Dow Jones Industrial Average ETF ended 0.22%, after its underlying index briefly hit a fresh all-time high. The S&P 500 ETF [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: XLV Slips On Pfizer Earnings, VGT Jumps On Apple Bond Deal Daily ETF Roundup: Stocks Rebound From Worst One-Day Drop In 2013 Daily ETF Roundup: Stocks Close Near Session Highs Daily ETF Roundup: S&P Closes Near All-Time High ETF Insider: Markets At Fed’s Mercy
U.S. equities ended near session lows after several disappointing economic reports curbed bullish momentum today. The Labor Department reported a surprise uptick in jobless benefits, which posted the biggest one-week increase since November. Meanwhile U.S. building permits topped analysts’ expectations, while housing starts for April declined, posting its weakest reading since November. The Federal Reserve Bank of Philadelphia’s May index of business activity also fell unexpectedly. Investors also paid close attention to Federal Reserve Bank of San Francisco President John Williams comments, which indicated that he is open to the central bank scaling back its bond-buying program in coming months [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: IGN Pops After Cisco Earnings, XLV Slumps Following a slew of disappointing economic reports, all three major U.S. equity indexes slid to close in negative territory. The Dow Jones Industrial Average ETF ended 0.22%, after its underlying index briefly hit a fresh all-time high. The S&P 500 ETF [...]
Click here to read the original article on ETFdb.com.
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