Daily ETF Roundup: Lackluster ISM Data Pulls Stocks Lower
Wall Street was in for yet another choppy trading session to start out the week, as investors weighed the continuing fiscal cliff talks and two important economic reports. The Institute of Supply Management reported that its purchasing managers’ index fell to 49.5 last month, below economist’s expectations and the threshold reading of 50, indicating a contraction in activity for the month of November. Meanwhile, construction spending increased by 1.4% in October, a significantly larger gain than the expected 0.5% increase. In Washington, House Speaker John Boehner and six other House Republican leaders sent a letter to Obama calling for $800 billion in revenues through tax reforms and $2.2 trillion in net savings. Though the counter offer sparked some sense of optimism, bearish momentum quickly resumed, pushing markets lower [see also 101 ETF Lessons Every Financial Advisor Should Learn]. Global Market Overview: Lackluster ISM Data Pulls Stocks Lower After a rather volatile session, all three major U.S. equity indexes slid [...] Click here to read the original article on ETFdb.com. Related Posts: 3 ETFs To Watch This Week: XLI, FXA, EU ETF Insider: Debt Drama Spoils Confidence 3 ETFs To Watch This Week: XLI, EWL, XLY Friday’s ETF Chart To Watch: Industrial Select Sector SPDR (XLI) Thursday’s ETF Chart To Watch: Industrial Select Sector SPDR (XLI)
Wall Street was in for yet another choppy trading session to start out the week, as investors weighed the continuing fiscal cliff talks and two important economic reports. The Institute of Supply Management reported that its purchasing managers’ index fell to 49.5 last month, below economist’s expectations and the threshold reading of 50, indicating a contraction in activity for the month of November. Meanwhile, construction spending increased by 1.4% in October, a significantly larger gain than the expected 0.5% increase. In Washington, House Speaker John Boehner and six other House Republican leaders sent a letter to Obama calling for $800 billion in revenues through tax reforms and $2.2 trillion in net savings. Though the counter offer sparked some sense of optimism, bearish momentum quickly resumed, pushing markets lower [see also 101 ETF Lessons Every Financial Advisor Should Learn]. Global Market Overview: Lackluster ISM Data Pulls Stocks Lower After a rather volatile session, all three major U.S. equity indexes slid [...]

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