Daily ETF Roundup: FXY Pops As Dollar Tumbles, XLU Rallies

It was a volatile session on Wall Street today ahead of tomorrow’s highly anticipated U.S. employment report. In economic news, the Labor Department reported that initial claims for unemployment benefits declined last week to a seasonally adjusted 346,000, in line with expectations. A sharp drop in the dollar against the Japanese yen sent equities into a tailspin; stocks did, however, manage to rally in the final hour of trading, sliding into positive territory [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: FXY Pops as Dollar Tumbles, XLU Rallies Ahead of tomorrow’s U.S. unemployment report, all three major U.S. equity indexes managed to close in positive territory. The S&P 500 ETF rose 0.90% after its underlying index briefly dropped below 1,600. The Dow Jones Industrial Average ETF gained 0.63%, while the tech-heavy Nasdaq ETF rose 0.51%. In Europe, markets were broadly lower after the ECB cut its forecast for the eurozone economy this year. The Stoxx [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: DXJ Tumbles After Nikkei Freefall, XLU Slumps Daily ETF Roundup: YCS Pops On Weaker Yen, XLU Slides Alongside Utilities Daily ETF Roundup: Stocks Rebound On Bank of Japan Move Daily ETF Roundup: Stocks Close Out Quarter On High Note Daily ETF Roundup: Dow Hits Multi-year High