Bullish momentum returned on Wall Street today, with the Dow Jones Industrial Average closing above the milestone 15,000 level for the first time. Meanwhile, investors digested several encouraging economic developments from overseas: in Australia, the Reserve Bank of Australia surprised investors after it lowered its key interest rate by 0.25% to a record low of 2.75%. German manufacturing also came in significantly better-than-expected; manufacturing orders for March rose 2.2%, compared to the forecast of a 0.52% decline. On the home front, however, U.S. consumer credit increased by $8 billion in March, which was below expectations [see The Cheapest ETF for Every Investment Objective].
Following encouraging economic news from overseas, all three major U.S. equity indexes managed to close in positive territory. The Dow Jones Industrial Average ETF (DIA, A) ended 0.56% higher, as its underlying index finished at a record close of 15,056.20. The S&P 500 ETF (SPY, A) rose 0.51%, while the tech-heavy Nasdaq ETF (QQQ, B+) slipped 0.06% (though its underlying index was up 0.11% on the day).
In Europe, markets were higher following German manufacturing data; Germany’s DAX 30 Index rose 0.7% and the Stoxx Europe 600 gained 0.3%. Meanwhile, Asian markets were mostly higher; Japan’s Nikkei Stock Average rallied 3.6% following a long holiday weekend.
Bond ETF Roundup
U.S. Treasury prices were lower for the third straight day today, following a $32 billion auction of 3-year notes. Yields on 10-year notes and 30-year bonds were 2 basis points weaker, while yields on 5-year notes were less than 1 basis point weaker [see also Seven Simple & Cheap ETF Model Portfolios].
Crude oil futures fell today, marking their first loss in four sessions, after a report indicated that Saudi Arabia increased its crude output by 2% in April. Gasoline and natural gas futures also ended slightly lower. Meanwhile, gold futures settled lower.
ETF Chart Of The Day #1: (VOX)
The Telecom ETF (VOX, A+) was one of the best performers today, gaining 1.07% during the session. Telecommunication shares were among today’s top performers, forcing this ETF to jump during the morning hours. VOX pushed higher throughout the day, eventually settling at $80.37 a share [see High Tech ETFdb Portfolio].
ETF Fun Fact Of The Day
The best-performing regional strategy over the trailing one-year period has been the Global Titans ETFdb Portfolio, which has gained 17.33%.
Disclosure: No positions at time of writing.