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Daily ETF Roundup: Stocks Surge On Bernanke Commentary, IYW And IWM Pop

By: ETFdb
Dovish comments from Fed Chairman Ben Bernanke sent U.S. equities surging higher today, finishing near record levels. In his press conference after the closing bell on Wednesday, Bernanke stated that monetary policy would remain accomodative for the foreseeable future, even if the unemployment rate fell to the central bank’s target rate of 6.5%. In economic news, weekly jobless claims rose by 16,000 last week to a seasonally adjusted 360,000, slightly above an expected 340,000 reading [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: Stocks Surge On Bernanke Commentary, IYW And IWM Pop Following Bernanke’s commentary, all three major U.S. equity indexes rallied to close in positive territory. The Dow Jones Industrial Average ETF jumped 1.09% after its underlying index closed at a new all-time high of 15,460.92. The S&P 500 ETF surged 1.36% higher, while the tech-heavy Nasdaq ETF gained 1.96%. In Europe, markets were broadly higher; the Stoxx Europe 600 rose 0.6% to [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: IEO Jumps After Pioneer Natural Resources Earnings, IYW Pops Daily ETF Roundup: Stocks Drop On Disappointing Labor Data Daily ETF Roundup: Stocks Close Sharply Lower Daily ETF Roundup: Stocks End Lower After Fed Minutes Daily ETF Roundup: Wall Street Takes A Hit From Apple Upset
Dovish comments from Fed Chairman Ben Bernanke sent U.S. equities surging higher today, finishing near record levels. In his press conference after the closing bell on Wednesday, Bernanke stated that monetary policy would remain accomodative for the foreseeable future, even if the unemployment rate fell to the central bank’s target rate of 6.5%. In economic news, weekly jobless claims rose by 16,000 last week to a seasonally adjusted 360,000, slightly above an expected 340,000 reading [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: Stocks Surge On Bernanke Commentary, IYW And IWM Pop Following Bernanke’s commentary, all three major U.S. equity indexes rallied to close in positive territory. The Dow Jones Industrial Average ETF jumped 1.09% after its underlying index closed at a new all-time high of 15,460.92. The S&P 500 ETF surged 1.36% higher, while the tech-heavy Nasdaq ETF gained 1.96%. In Europe, markets were broadly higher; the Stoxx Europe 600 rose 0.6% to [...]

Click here to read the original article on ETFdb.com.

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