Bullish momentum continued on Wall Street today, with the S&P 500 closing near the 1600 level and the Dow Jones Industrial Average inching towards 15,000. Boosting equities was an encouraging labor report, which showed that initial jobless claims fell more than expected last week, to 346,000, marking the first decline in four weeks. Meanwhile, investors paid close attention to earnings reports; banking giants JPMorgan Chase and Wells Fargo are slated to post their first quarter earnings on Friday [see Free Member Report: How To Pick The Right ETF Every Time].
Following an upbeat jobless claims report, all three major U.S. equity indexes managed to close in positive territory. The Dow Jones Industrial Average ETF (DIA, A-) gained 0.45%, as its underlying index advanced for the fourth-consecutive session. The S&P 500 ETF (SPY, A) rose 0.33%, while the tech-heavy Nasdaq ETF (QQQ, A-) slipped 0.04% (though its underlying index closed up 0.09%).
In Europe, markets were mostly higher; the Stoxx Europe 600 rose 0.6%. Meanwhile, Asian markets were broadly higher; Japan’s Nikkei Stock Average rose 2.0%, while Australia’s S&P ASX 200 inched 0.8% higher.
Bond ETF Roundup
U.S. Treasuries reversed slight gains from earlier in the session after an auction of 30-year bonds showed lackluster demand. Yields on 5 and 10-year notes fell less than 1 basis points, while 30-year bonds traded flat at 3% [see also Seven Simple & Cheap ETF Model Portfolios].
Crude oil futures traded lower today, shedding more than 1% after the International Energy Agency cut its forecast for growth in oil demand. Natural futures, however, hit their highest close in 20 months. Meanwhile, gold futures bounced back as bargain buyers stepped in.
ETF Chart Of The Day #1: (XRT)
The SPDR S&P Retail ETF (XRT, A) was one of the best performers today, gaining 2.00% during the session. Retail shares were among today’s top performers, forcing this ETF to jump higher at the open. XRT slid sideways during the afternoon hours, eventually settling at $72.97 a share [see Consumer Centric ETFdb Portfolio].
ETF Fun Fact Of The Day
The best-performing themed strategy over the trailing 4-week period has been the Baby Boomers ETFdb Portfolio, which has gained 3.05%.
Disclosure: No positions at time of writing.