Wiping out the previous session’s losses, U.S. equities rallied to close near session highs today following several upbeat economic reports. The Labor Department reported that weekly jobless claims declined 12,000 to a seasonally adjusted 334,000, the lowest level in nearly five years. In a separate report, retail sales in May increased 0.6%, marginally higher than the 0.4% forecast. The Commerce Department also reported a 0.3% uptick in business inventories [see The Cheapest ETF for Every Investment Objective].
Following today’s upbeat U.S. economic reports, all three major U.S. equity indexes rallied to close in positive territory. The Dow Jones Industrial Average ETF (DIA, A-) rose 1.27%, after its underlying index soared over 180 points. The S&P 500 ETF (SPY, A) gained 1.52%, while the tech-heavy Nasdaq ETF (QQQ, A-) popped 1.27%.
In Europe, markets were slightly lower with the Stoxx Europe 600 falling less than 0.1%. Meanwhile, Japan’s Nikkei Stock Average tumbled 6.4% to enter bear-market territory, while China’s Shanghai Composite shed 2.8% following an extended holiday break.
Bond ETF Roundup
U.S. Treasury prices traded higher today after a WSJ report reiterated the Fed’s commitment to low short-term interest rates. Yields on 10-year notes fell 9 basis points, while 30-year bond and 5-year note yields fell 6.5 and 9.5 basis points, respectively [see also Seven Simple & Cheap ETF Model Portfolios].
Crude oil futures traded higher today, settling above $96 a barrel, on today’s upbeat U.S. data. In other energy trading, gasoline and natural gas futures were also higher after the EIA reported a rise of 95 billion cubic feet in nat gas inventories for the week ended June 7. Meanwhile, gold futures traded lower, settling at $1,377.80 an ounce.
ETF Chart Of The Day #1: (XLF)
The Financial Select Sector SPDR (XLF, A) was one of the best performers today, gaining 1.90% during the session. Financial shares were among today’s top performers, allowing this ETF to rally during the final hours of trading. XLF settled at at $19.81 a share [see Financials Free ETFdb Portfolio].
ETF Chart Of The Day #2: (FXG)
The Consumer Staples AlphaDEX Fund (FXG, B+) also posted a strong performance today, gaining 1.45% during the session. After Safeway (SWY) announced it will sell its Canadian operations, this ETF gapped significantly higher at the open. FXG pushed higher throughout the day, eventually settling at $31.57 a share [see Consumer Centric ETFdb Portfolio].
ETF Fun Fact Of The Day
The best-performing regional strategy over the trailing 13-week period has been the Global Titans ETFdb Portfolio, which has gained 1.26%.
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Disclosure: No positions at time of writing.