Daily ETF Roundup: FDN Rallies After Yahoo! Earnings, IHI PopsJuly 17, 2013 at 17:49 PM EDT
After rallying throughout the earlier hours, U.S. equities drifted off session highs following Federal Reserve Chairman Ben Bernanke’s testimony for Congress. Bernanke emphasized, “our asset purchases depend on economic and financial developments, but they are by no means on a preset course”. The chairman also noted that while the bond buying program could be reduced somewhat more quickly if economic conditions improve, the central bank could still maintain its $85 billion monthly pace for longer if labor market conditions worsen. In other economic news, housing starts tumbled 9.9% in June to the lowest level since last August [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: FDN Rallies After Yahoo! Earnings, IHI Pops Following Bernanke’s commentary, all three major U.S. equity indexes managed to close in positive territory. The S&P 500 ETF traded 0.27% higher, while the tech-heavy Nasdaq ETF rose 0.28% – both the S&P 500 and Nasdaq finished lower for the first [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: FDN and XLP Pop Ahead Of Unofficial Start Of Earnings Season Daily ETF Roundup: Google Pushes FDN Higher, CHIQ Slumps On Chinese Data Daily ETF Roundup: Healthcare Shares Boost IHI And XLV Daily ETF Roundup: Stocks Shrugg Off Sequester UBS Launches Risk On / Risk Off ETNs
After rallying throughout the earlier hours, U.S. equities drifted off session highs following Federal Reserve Chairman Ben Bernanke’s testimony for Congress. Bernanke emphasized, “our asset purchases depend on economic and financial developments, but they are by no means on a preset course”. The chairman also noted that while the bond buying program could be reduced somewhat more quickly if economic conditions improve, the central bank could still maintain its $85 billion monthly pace for longer if labor market conditions worsen. In other economic news, housing starts tumbled 9.9% in June to the lowest level since last August [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: FDN Rallies After Yahoo! Earnings, IHI Pops Following Bernanke’s commentary, all three major U.S. equity indexes managed to close in positive territory. The S&P 500 ETF traded 0.27% higher, while the tech-heavy Nasdaq ETF rose 0.28% – both the S&P 500 and Nasdaq finished lower for the first [...]
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