It was another choppy trading session on Wall Street today, with the Dow Jones Industrial Average posting its first three-day losing streak in 2013 and closing below 15,000 level. With no major economic news on tap for today, investors turned their attention once again to Fed tapering, with many speculating when exactly the central bank will begin scaling back bond purchases. And as Fed concerns heightened, investors put pressure on the U.S. dollar, which fell as low as $95.16 against the yen earlier in the session [see The Cheapest ETF for Every Investment Objective].
Global Market Overview: Dow Falls Below 15,000, XLY Slumps, TUR Jumps
After yet another volatile session, all three major U.S. equity indexes fell to close in negative territory. The Dow Jones Industrial Average ETF (DIA, B) shed 0.89%, after its underlying index fell more than 126 points to close below the 15,000 level. The S&P 500 ETF (SPY, A) fell 0.83%, while the tech-heavy Nasdaq ETF (QQQ, A-) slipped 1.14%.
In Europe, markets were lower despite a better-than-expected eurozone industrial production report; the Stoxx Europe 600 fell 0.4%. Meanwhile, Japan’s Nikkei Stock Average closed 0.2% lower after the index tumbled 2.4% earlier in the session.
Bond ETF Roundup
U.S. Treasury prices fell today following a mixed government auction of 10-year notes. Yields on 10-year notes rose 4.5 basis points, while 30-year bond and 5-year note yields rose 6 and 3.5 basis points, respectively [see also Seven Simple & Cheap ETF Model Portfolios].
Crude oil futures traded higher today, settling above $95 a barrel, after the U.S. Energy Information Administration reported an unexpected rise in U.S. supplies. In other energy trading, gasoline futures settled slightly lower after the EIA reported a 2.7 million barrel increase in supplies. Meanwhile, gold futures rose 1.1%.
ETF Chart Of The Day #1: (XLY)
The Consumer Discretionary Select Sector SPDR (XLY, A) was one of the worst performers today, shedding 1.10% during the session. Consumer discretionary shares were among today’s worst performers, forcing this ETF to tumble after gapping slightly higher at the open. XLY fell throughout the day, eventually settling at $55.49 a share [see Consumer Centric ETFdb Portfolio].
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ETF Chart Of The Day #2: (TUR)
The MSCI Turkey Investable Market Index Fund (TUR, A-) was one of the best performers today, gaining 3.80% during the session. After police managed to clear protesters from Taksim Square, Turkish equities rebounded, allowing this ETF to gap significantly higher at the open. TUR slid sideways for the remainder of the day, eventually settling at $63.03 a share [see Euro Free Europe Portfolio].
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ETF Fun Fact Of The Day
The best-performing themed strategy over the trailing 13-week period has been the Baby Boomers ETFdb Portfolio, which has gained 6.68%.
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Disclosure: No positions at time of writing.
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