U.S. equities finished narrowly mixed in today’s lackluster trading session, following a slew of earnings reports and an underwhelming manufacturing report. According the the Federal Reserve Bank of Richmond, manufacturing activity in the central Atlantic region contracted in July, falling to -11 (an above zero reading indicates expansion). On the corporate front, Travelers (TRV) earnings rose 85%, while UPS (UPS) posted lower profits but met EPS estimates [see The Cheapest ETF for Every Investment Objective].
Following today’s earnings and economic reports, only one major U.S. equity indexes managed to close in positive territory. The Dow Jones Industrial Average ETF (DIA, A-) rose 0.16%, lifted by strong performances from United Tech and Boeing. The S&P 500 ETF (SPY, A) traded 0.21% lower, while the tech-heavy Nasdaq ETF (QQQ, A) fell 0.74%.
In Europe, markets were broadly lower as a disappointing report on U.S. manufacturing outweighed upbeat economic news from France; the Stoxx Europe 600 slipped 0.3%. Meanwhile, Japan’s Nikkei Stock Average rose 0.8% after the Japanese government increased its economic outlook, and China’s Shanghai Composite rallied 2.0% following reports that Premier Li Keqiang said China’s growth needs to be kept above 7%.
Bond ETF Roundup
U.S. Treasuries fell today despite an average government auction of 2-year notes. Yields on 10-year notes rose 2 basis points, while 30-year bonds and 2-year note yields rose 2.5 and 0.5 basis points, respectively [see also Seven Simple & Cheap ETF Model Portfolios].
Crude oil futures traded higher today, settling above $107 a barrel, ahead of this week’s crude oil supply data. In other energy trading, gasoline and natural gas futures also traded higher. Meanwhile, gold futures slipped 0.1% after posting its biggest percentage gain in more than a year during Monday’s session.
ETF Chart Of The Day #1: (KOL)
The Market Vectors Coal ETF (KOL, B) was one of the best performers today, gaining 2.31% during the session. After Peabody Energy (BTU) beat Q2 expectations, this ETF gapped significantly higher at the open. KOL eventually settled at $18.64 a share [see Energy Bull ETFdb Portfolio].
ETF Chart Of The Day #2: (IYM)
The U.S. Basic Materials ETF (IYM, A) also posted a strong performance today, gaining 0.49% during the session. After DuPont (DD) reported a decline in earnings (though it beat analyst estimates), this ETF gapped significantly higher at the open. IYM eventually settled at $71.416 a share [see Commodity Guru ETFdb Portfolio].
ETF Fun Fact Of The Day
The best-performing themed strategy over the trailing 13-week period has been the High Tech ETFdb Portfolio which has gained 10.15%.
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Disclosure: No positions at time of writing.