The bull train continued full steam ahead on Wall Street this week as investors had few reasons to take profits off the table even in the face of multi-year highs for major equity indexes. Upbeat earnings results from Google and IBM bolstered the tech-sector early in the week, while Apple’s miss yesterday created headwinds for a number of ETFs that feature major allocations to the bellwether stock. The S&P 500 Index managed to peek above the 1,500 level for the first time in five years, while the grandfather of all ETFs, State Street’s SPDR S&P 500 (SPY), celebrated its 20th birthday on Tuesday with a rally [see Visual History Of The S&P 500]. Adding to the string of good news is the latest weekly jobless claims report, which showed that 330,000 people had filed for unemployment benefits versus the previous reading of 335,000. With no new product launches this week and corporate earnings [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Wall Street Takes A Hit From Apple Upset Daily ETF Roundup: Stocks Pop On Earnings Euphoria Daily ETF Roundup: Dow Hits Multi-year High The Ultimate Guide To FM (MSCI Frontier 100 Index Fund) Friday’s ETF Chart To Watch: SPDR S&P 500 (SPY)
The bull train continued full steam ahead on Wall Street this week as investors had few reasons to take profits off the table even in the face of multi-year highs for major equity indexes. Upbeat earnings results from Google and IBM bolstered the tech-sector early in the week, while Apple’s miss yesterday created headwinds for a number of ETFs that feature major allocations to the bellwether stock. The S&P 500 Index managed to peek above the 1,500 level for the first time in five years, while the grandfather of all ETFs, State Street’s SPDR S&P 500 (SPY), celebrated its 20th birthday on Tuesday with a rally [see Visual History Of The S&P 500]. Adding to the string of good news is the latest weekly jobless claims report, which showed that 330,000 people had filed for unemployment benefits versus the previous reading of 335,000. With no new product launches this week and corporate earnings [...]
Click here to read the original article on ETFdb.com.
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