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June 14, 2012 at 12:43 PM EDT
Mid Day Roundup: Stocks Pop On Stimulus Hopes After Sour Data
U.S. equity markets held their ground this morning, exhibiting utter disinterest in any sort of Euro Zone drama that continuously tries to take center stage. While seemingly not caring at all about the latest Spanish crisis developments, stocks surged forward, bolstered by an unexpected increase in initial claims for unemployment benefits. Although this data is not necessarily “good”, it does give rise to hopes that the elusive QE3 might be more likely to be set into action. Since nothing in the morning news constituted this rally, investors will have to be satisfied with “renewed” hopes being the reason for today’s uptick [see also Seven Simple & Cheap ETF Model Portfolio]. On the macroeconomic front, tensions in Egypt flared up again as the country’s highest court ruled to permit Mubarak’s last prime minister to run in the presidential elections this weekend, and consequently ruled for the dissolution of both houses of Egypt’s parliament. As [...] Click here to read the original article on ETFdb.com. Related Posts: Strange Times For The Natural Gas ETN (GAZ) Daily ETF Roundup: VXX Soars On Spain Bailout, UNG Sinks Lower The Ultimate Guide To Screening Energy ETFs Daily ETF Roundup: EWY Inches Higher, UNG Sinks After Inventory Data Emerging Market ETFs: Surprising Standouts In A Hectic Month
U.S. equity markets held their ground this morning, exhibiting utter disinterest in any sort of Euro Zone drama that continuously tries to take center stage. While seemingly not caring at all about the latest Spanish crisis developments, stocks surged forward, bolstered by an unexpected increase in initial claims for unemployment benefits. Although this data is not necessarily “good”, it does give rise to hopes that the elusive QE3 might be more likely to be set into action. Since nothing in the morning news constituted this rally, investors will have to be satisfied with “renewed” hopes being the reason for today’s uptick [see also Seven Simple & Cheap ETF Model Portfolio].  On the macroeconomic front, tensions in Egypt flared up again as the country’s highest court ruled to permit Mubarak’s last prime minister to run in the presidential elections this weekend, and consequently ruled for the dissolution of both houses of Egypt’s parliament. As [...]

Click here to read the original article on ETFdb.com.

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