Daily ETF Roundup: FXG Pops On Safeway Acquisition, XLF Rallies

Wiping out the previous session’s losses, U.S. equities rallied to close near session highs today following several upbeat economic reports. The Labor Department reported that weekly jobless claims declined 12,000 to a seasonally adjusted 334,000, the lowest level in nearly five years. In a separate report, retail sales in May increased 0.6%, marginally higher than the 0.4% forecast. The Commerce Department also reported a 0.3% uptick in business inventories [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: FXG Pops On Safeway Acquisition, XLF Rallies Following today’s upbeat U.S. economic reports, all three major U.S. equity indexes rallied to close in positive territory. The Dow Jones Industrial Average ETF rose 1.27%, after its underlying index soared over 180 points. The S&P 500 ETF gained 1.52%, while the tech-heavy Nasdaq ETF popped 1.27%. In Europe, markets were slightly lower with the Stoxx Europe 600 falling less than 0.1%. Meanwhile, Japan’s Nikkei Stock Average tumbled 6.4% to [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: XLF Rallies, VNQ Sinks Alongside REITs Daily ETF Roundup: S&P Posts Record High, XLF And XLE Rally Daily ETF Roundup: XLF Rises After Berkshire Earnings, EWM Soars On Malaysian Elections Daily ETF Roundup: Stocks Close Sharply Lower Daily ETF Roundup: Dow Falls Below 15,000, XLY Slumps, TUR Jumps