U.S. equities finished narrowly mixed in today’s lackluster trading session, following a slew of earnings reports and an underwhelming manufacturing report. According the the Federal Reserve Bank of Richmond, manufacturing activity in the central Atlantic region contracted in July, falling to -11 (an above zero reading indicates expansion). On the corporate front, Travelers (TRV) earnings rose 85%, while UPS (UPS) posted lower profits but met EPS estimates [see The Cheapest ETF for Every Investment Objective].
Global Market Overview: Stocks End Narrowly Mixed, KOL And IYM Pop
Following today’s earnings and economic reports, only one major U.S. equity indexes managed to close in positive territory. The Dow Jones Industrial Average ETF (DIA, A) rose 0.16%, lifted by strong performances from United Tech and Boeing. The S&P 500 ETF (SPY, A) traded 0.21% lower, while the tech-heavy Nasdaq ETF (QQQ, B+) fell 0.74%.
In Europe, markets were broadly lower as a disappointing report on U.S. manufacturing outweighed upbeat economic news from France; the Stoxx Europe 600 slipped 0.3%. Meanwhile, Japan’s Nikkei Stock Average rose 0.8% after the Japanese government increased its economic outlook, and China’s Shanghai Composite rallied 2.0% following reports that Premier Li Keqiang said China’s growth needs to be kept above 7%.
Bond ETF Roundup
U.S. Treasuries fell today despite an average government auction of 2-year notes. Yields on 10-year notes rose 2 basis points, while 30-year bonds and 2-year note yields rose 2.5 and 0.5 basis points, respectively [see also Seven Simple & Cheap ETF Model Portfolios].
Crude oil futures traded higher today, settling above $107 a barrel, ahead of this week’s crude oil supply data. In other energy trading, gasoline and natural gas futures also traded higher. Meanwhile, gold futures slipped 0.1% after posting its biggest percentage gain in more than a year during Monday’s session.
ETF Chart Of The Day #1: (KOL)
The Market Vectors Coal ETF (KOL, B) was one of the best performers today, gaining 2.31% during the session. After Peabody Energy (BTU) beat Q2 expectations, this ETF gapped significantly higher at the open. KOL eventually settled at $18.64 a share [see Energy Bull ETFdb Portfolio].
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ETF Chart Of The Day #2: (IYM)
The U.S. Basic Materials ETF (IYM, A) also posted a strong performance today, gaining 0.49% during the session. After DuPont (DD) reported a decline in earnings (though it beat analyst estimates), this ETF gapped significantly higher at the open. IYM eventually settled at $71.416 a share [see Commodity Guru ETFdb 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 High Tech ETFdb Portfolio which has gained 10.15%.
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Disclosure: No positions at time of writing.
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