After a choppy trading week, U.S. equities managed to close out the week marginally higher, with the Dow Jones Industrial Average and S&P 500 posting new record high closes. Investors kept a close eye on Fed Chariman Ben Bernanke’s speech at the Chicago Fed Conference, though his commentary had little effect on trading. In economic news, the U.S. federal budget was reported, showing a year-over-year increase of $112.89 billion, slightly above expectations [see The Cheapest ETF for Every Investment Objective].
To close out the week, all three major U.S. equity indexes managed to close in positive territory. The S&P 500 ETF (SPY, A) gained 0.32% and the Dow Jones Industrial Average ETF (DIA, A) rose 0.13%, as both underlying index closed at new record highs. The tech-heavy Nasdaq ETF (QQQ, B+) logged in a 0.61% gain.
In Europe, markets were mostly higher, benefiting from Japan’s strength. Meanwhile, Asian markets rallied as the dollar climbed back above the 100 yen level; Japan’s Nikkei Stock Average surged 2.9%, while China’s Shanghai Composite Index rose 0.6%.
Bond ETF Roundup
U.S. Treasury prices were lower, marking the fourth decline out of five sessions. Yields on 10-year notes rose 11 basis points, while 30-year bond and 5-year notes rose 9 and 6 basis points, respectively [see also Seven Simple & Cheap ETF Model Portfolios].
Crude oil futures ended slightly higher, recovering most of their earlier losses, though pressures from a stronger dollar remained. Natural gas and gasoline futures, however, traded lower. Meanwhile, gold fell 1.5% on the stronger dollar.
ETF Chart Of The Day #1: (XRT)
The SPDR S&P Retail ETF (XRT, A) was one of the best performers today, gaining 1.43% during the session. Consumer discretionary shares were among today’s top performers, forcing this ETF to gap slightly higher at the open. XRT pushed higher throughout the day, eventually settling at $76.45 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 High Tech ETFdb Portfolio, which has gained 3.00%.
Disclosure: No positions at time of writing.