July 01, 2013 at 17:30 PM EDT
Daily ETF Roundup: XHB Jumps On Construction Data, IBB Pops
Wall Street started off the month of July with a bang, with bullish momentum returning full force on upbeat economic data. Fueling today’s rally, the Institute for Supply Management reported that its manufacturing purchasing managers index rose to 50.9 in June, up from last month’s reading of 49 (a reading above 50 indicates industry expansion). In a separate report, construction spending for the month of May also beat analysts’ expectations, rising 0.5% to its highest level in nearly four years. Meanwhile, investors looked ahead for the slew of economic news being reported during this holiday-shortened week [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: XHB Jumps On Construction Data, IBB Pops Following today’s upbeat economic reports, all three major U.S. equity indexes rallied to close in positive territory. The Dow Jones Industrial Average ETF rose 0.59% after its underlying index was up more than 170 points earlier in the session. [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Equities Recover, IYR And XHB Rally On Upbeat Housing Data Daily ETF Roundup: XHB Pops On Homebuilder Data, EWG Jumps On Bundesbank Outlook Daily ETF Roundup: Dow Snaps Tuesday Win Streak, IBB Sinks Daily ETF Roundup: Stocks Finish Flat, IBB And DXJ Pop Daily ETF Roundup: PPA Pops On Boeing Earnings, IBB Slumps On Declining Amgen Sales
Wall Street started off the month of July with a bang, with bullish momentum returning full force on upbeat economic data. Fueling today’s rally, the Institute for Supply Management reported that its manufacturing purchasing managers index rose to 50.9 in June, up from last month’s reading of 49 (a reading above 50 indicates industry expansion). In a separate report, construction spending for the month of May also beat analysts’ expectations, rising 0.5% to its highest level in nearly four years. Meanwhile, investors looked ahead for the slew of economic news being reported during this holiday-shortened week [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: XHB Jumps On Construction Data, IBB Pops Following today’s upbeat economic reports, all three major U.S. equity indexes rallied to close in positive territory. The Dow Jones Industrial Average ETF rose 0.59% after its underlying index was up more than 170 points earlier in the session. [...]

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

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