Despite some rather positive economic data, Wall Street remained pessimistic about the seemingly never-ending fiscal cliff negotiations. Third-quarter GDP was revised to 3.1%, up from 2.7%, while second-quarter growth was recorded at 1.3%. Existing home sales in November jumped 5.9% from the previous month, bucking economists’ expectations of a 2.3% increase. The Philadelphia Federal Reserve Bank’s index of business activity for December popped to 8.1 from November’s 120.7 reading. The stalemate in Washington, however, put a damper on these positive reports [see also 101 High Yielding ETFs For Every Dividend Investor]. Global Market Overview: Cliff Talks Overshadow Positive Economic Data Somewhat boosted by House Speaker John Boehner’s continuing promise of Congress coming to a viable cliff solution, all three major U.S. equity indexes managed to claw their way into positive territory. The S&P 500 came out on top, gaining 0.55% during the session. Tech-heavy Nasdaq inched 0.20% higher, while the Dow Jones Industrial Average added 0.45%. In Europe, [...] Click here to read the original article on ETFdb.com. Related Posts: The Most Tradable Stock In Each Sector SPDR ETF The 5 Most Important Chart Patterns For ETF Traders ETF Insider: Don’t Try To Catch The Falling Knife Daily ETF Roundup: Obama Re-election Offers No Relief Daily ETF Roundup: First Week Of Earnings Ends In Choppy Trading
Despite some rather positive economic data, Wall Street remained pessimistic about the seemingly never-ending fiscal cliff negotiations. Third-quarter GDP was revised to 3.1%, up from 2.7%, while second-quarter growth was recorded at 1.3%. Existing home sales in November jumped 5.9% from the previous month, bucking economists’ expectations of a 2.3% increase. The Philadelphia Federal Reserve Bank’s index of business activity for December popped to 8.1 from November’s 120.7 reading. The stalemate in Washington, however, put a damper on these positive reports [see also 101 High Yielding ETFs For Every Dividend Investor]. Global Market Overview: Cliff Talks Overshadow Positive Economic Data Somewhat boosted by House Speaker John Boehner’s continuing promise of Congress coming to a viable cliff solution, all three major U.S. equity indexes managed to claw their way into positive territory. The S&P 500 came out on top, gaining 0.55% during the session. Tech-heavy Nasdaq inched 0.20% higher, while the Dow Jones Industrial Average added 0.45%. In Europe, [...]
Click here to read the original article on ETFdb.com.
Related Posts:
