July 25, 2013 at 17:20 PM EDT
Daily ETF Roundup: PNQI Pops On Facebook Earnings, XLB Rises On Durable Goods
It was another choppy session on Wall Street today as investors digested yet another slew of mixed earnings reports. Conglomerate 3M (MMM) reported earnings that were in line with expectations, though the company posted a decline in sales of materials used in electronics and solar energy. Auto-maker General Motors (GM) beat the Street’s expectations, though profits dropped 24% from a year earlier. Meanwhile, social media giant Facebook (FB) posted stellar results, easily surpassing earnings and revenue estimates. On the economic front, initial claims for jobless benefits rose slightly more than expected to a seasonally adjusted 343,000, while durable-goods orders for June rose 4.2% [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: PNQI Pops On Facebook Earnings, XLB Rises On Durable Goods Following today’s earnings and economic reports, all three major U.S. equity indexes managed to close in positive territory. The tech-heavy Nasdaq ETF rose 0.67%, as its underlying index logged in [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: VXX Spikes On Fed Concerns, XLB Tumbles Daily ETF Roundup: TLT Tumbles On Fed Tapering Fears, XLB Slumps Daily ETF Roundup: Stocks Close Higher As Earnings Season Kicks Off Daily ETF Roundup: XLE Drops As Crude Retreats, IYW Pops On Apple Earnings Daily ETF Roundup: Stocks End Narrowly Mixed; KOL And IYM Pop
It was another choppy session on Wall Street today as investors digested yet another slew of mixed earnings reports. Conglomerate 3M (MMM) reported earnings that were in line with expectations, though the company posted a decline in sales of materials used in electronics and solar energy. Auto-maker General Motors (GM) beat the Street’s expectations, though profits dropped 24% from a year earlier. Meanwhile, social media giant Facebook (FB) posted stellar results, easily surpassing earnings and revenue estimates. On the economic front, initial claims for jobless benefits rose slightly more than expected to a seasonally adjusted 343,000, while durable-goods orders for June rose 4.2% [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: PNQI Pops On Facebook Earnings, XLB Rises On Durable Goods Following today’s earnings and economic reports, all three major U.S. equity indexes managed to close in positive territory. The tech-heavy Nasdaq ETF rose 0.67%, as its underlying index logged in [...]

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

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