May 02, 2013 at 18:11 PM EDT
Daily ETF Roundup: IEO Jumps After Pioneer Natural Resources Earnings, IYW Pops
Stocks bounced back from yesterday’s broad sell-off after a key labor report and eurozone developments helped propel U.S. equities. According to the Labor Department, Americans applying for unemployment benefits fell to its lowest level in over five years, while initial jobless claims also fell to 324,000, compared to the expected 345,000 figure. Investors, however, remain wary ahead of tomorrow’s nonfarm payrolls data. On the eurozone front, the European Central Bank cut its benchmark interest rate for the first time since July to 0.50%. ECB President Mario Draghi emphasized that the bank’s policy will remain accomodative for “as long as needed” [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: IEO Jumps After Pioneer Natural Resources Earnings, IYW Pops Following today’s labor report and ECB rate cut, all three major U.S. equity indexes rallied to close in positive territory. The S&P 500 ETF rose 0.94%, as its underlying index hit a fresh intra-day high. The Dow Jones Industrial Average ETF [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Stocks Drop On Disappointing Labor Data Daily ETF Roundup: Stocks End Lower After Fed Minutes Daily ETF Roundup: Stocks End Mixed, S&P Posts Seventh Weekly Gain Daily ETF Roundup: Wall Street Takes A Hit From Apple Upset Daily ETF Roundup: Stocks Pop On Earnings Euphoria
Stocks bounced back from yesterday’s broad sell-off after a key labor report and eurozone developments helped propel U.S. equities. According to the Labor Department, Americans applying for unemployment benefits fell to its lowest level in over five years, while initial jobless claims also fell to 324,000, compared to the expected 345,000 figure. Investors, however, remain wary ahead of tomorrow’s nonfarm payrolls data. On the eurozone front, the European Central Bank cut its benchmark interest rate for the first time since July to 0.50%. ECB President Mario Draghi emphasized that the bank’s policy will remain accomodative for “as long as needed” [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: IEO Jumps After Pioneer Natural Resources Earnings, IYW Pops  Following today’s labor report and ECB rate cut, all three major U.S. equity indexes rallied to close in positive territory. The S&P 500 ETF rose 0.94%, as its underlying index hit a fresh intra-day high. The Dow Jones Industrial Average ETF [...]

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

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