Filed Under: ,
Tickers in this Article: DIA, QQQ, SPY, XLI
U.S. equities ended the week on a strong note as investors weighed labor data against the possibility of the Fed maintaining its bond-buying program over the next few months. In economic news, the Labor Department reported that the U.S. added 175,000 jobs in May, slightly above analysts’ expectations. The unemployment rate, however, ticked higher from 7.5% to 7.6%, leading many investors to think that the central bank will continue its current stimulus measures .



Global Market Overview: Stocks End Week On A Strong Note, XLI Rallies

Following today’s U.S. unemployment report, all three major U.S. equity indexes rallied to close in positive territory. The Dow Jones Industrial Average ETF gained 1.38% after its underlying index shot up more than 200 points. The S&P 500 ETF rose 1.25%, while the tech-heavy Nasdaq ETF rallied 1.41%.

In Europe, markets were broadly higher; the Stoxx Europe 600 rose 1.3%. Meanwhile, Asian equities were mostly lower; Japan’s Nikkei Stock Average slipped 0.2%, while China’s Shanghai Composite Index tumbled 1.4% ahead of inflation data slated to be released over the weekend.

Bond ETF Roundup

U.S. Treasury prices fell as investors weighed today’s U.S. labor data against potential Fed policy changes. Yields on 10-year notes rose 8 basis points, while 30-year bond yields rose 7 basis points .

Commodity Roundup

Crude oil futures rallied once again, settling above $96 a barrel and posting a weekly gain of more than 4%. In other energy trading, natural gas futures ended flight while gasoline traded slightly higher. Meanwhile, gold fell roughly 2% on today’s strong labor data.

ETF Chart Of The Day #1:

The Industrial Select Sector SPDR was one of the best performers today, gaining 1.88% during the session. Industrial shares were among today’s top performers, allowing this ETF to gap slightly higher at the open. XLI inched higher throughout the day, eventually settling at $43.79 a share .

Click To Enlarge

ETF Fun Fact Of The Day

The best-performing retirement strategy over the trailing 13-week period has been the Cheapskate Portfolio, which has gained 2.90%.

Disclosure: No positions at time of writing.

comments powered by Disqus

Trading Center