Filed Under: , ,
Tickers in this Article: IYW, PEK
While investors kept a close watch on budget negotiations, a slew of better-than-expected economic reports and upbeat commentary from China's new leader helped stocks claw their way out of negative territory. The Institute for Supply Management's non-manufacturing purchasing index rose in the month of November, exceeding analyst'sexpectationsfor a drop in service sector activity. Factory orders also rose, though the Automatic Data Processing's and Moody's Analystics' reading on November hiring came in lower than expected. On the corporate front, Apple dominated the headlines, as the stock tumbled more than 6%, the worse single day decline since 2008, after the company announced that it will be raising its margin requirements.

Global Market Overview:Blue Chips Rally While Apple Tumbles

The majority of U.S. equities finally managed to snap their loosing streak to post modest gains on the day. Tech-heavyNasdaq, however, logged in a 0.77% loss following Apple's steep drop. TheS&P 500 inched 0.16% higher, while the Dow Jones Industrial Average came out on top with its 0.64% gain. In Europe, markets were mostly higher, with the Stoxx Europe 600 rising 0.2%. Asian equities closed in positive territory after China's new leader, Xi Jinping, made promising comments about the economy. China's Shanghai Composite rallied 2.9%, while Japan's Nikkei Stock Average inched 0.4% higher.

Bond ETF Roundup

Lack of progress in Washington pushed U.S. Treasury prices higher once again today; yields on 5 and 10-year notes declined 2 basis points, while yields on 30-year bonds fell 1 basis point to 2.78%.

Commodity ETF Roundup

Commodities were mostly higher today, with gold, copper, wheat, soybeans, and corn posting modest gains. Brent, however, ticked lower after mixed data from the U.S. and eurozone raised demand fears and an inventory report showed higher levels of supplies. Natural gas also made headlines, as the fossil fuel rallied 4.5% .

ETF Chart Of The Day #1: IYW

The iShares Dow Jones U.S. Technology Index Fund was one of the worst performers today, shedding a dismal 1.29% during the session. Apple shares (AAPL), whichreceivea hefty 23.37% weighting in IYW, tumbled 6% today, forcing this ETF to gapsignificantlylower at the open. IYW took a steep plunge during late morning hours, only to trade sideways for the remainder of the day. The fund eventually settled near its low of $69.46 a share.

Click To Enlarge  

ETF Chart Of The Day #2: PEK

TheVan Eck Market Vectors China ETF was one of the best performers of the day, gaining a whopping 3.78% during the session. FollowingChina's new leader Xi Jinping'sencouragingcommentary about the state of the nation's economy, this ETF gapped significantly higher at the open. PEK traded sideways for the rest of the day, eventually settling near its high of $32.62 a share.

Click To Enlarge  

ETF Fun Fact Of The Day

The best performing regional strategy from the trailing 1-year period is ourGlobal Titans ETFdb Portfolio; this strategy is up 14.18%.

Disclosure: No positions at time of writing.

comments powered by Disqus

Trading Center