Investors might be recovering from a case of whiplash today, as a surprising move from Spain and rising optimism surrounding possible Chinese stimulus measures brought momentum back to the markets. The Spanish government unveiled today a 2013 budget plan, which includes over $16 billion of spending cuts and tax increases aimed at persuading the European Union that the country is on track to meet its deficit-reduction targets. Adding to Wall Street’s sense of relief was China’s central bank injecting a record amount of liquidity into the banking system this week, leading many investors to believe that additional stimulus measures are on the way [see also 7 Simple & Cheap All-ETF Model Portfolios]. Global Market Overview: Spain Makes Bold Move All three major U.S. stock indexes closed higher, despite U.S. GDP coming in at its slowest pace since the third quarter of 2011, durable goods orders declining, and pending home sales dropping in August. As the poor data was ignored, [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Stocks Grind Lower Amid Uncertainty Daily ETF Roundup: Spain Rumors Offer Little Relief Daily ETF Roundup: Stocks Grind As Investors Digest Daily ETF Roundup: Markets Tick Higher On Another QE3 “Hint” Daily ETF Roundup: Bulls Back Away From Resistance
Investors might be recovering from a case of whiplash today, as a surprising move from Spain and rising optimism surrounding possible Chinese stimulus measures brought momentum back to the markets. The Spanish government unveiled today a 2013 budget plan, which includes over $16 billion of spending cuts and tax increases aimed at persuading the European Union that the country is on track to meet its deficit-reduction targets. Adding to Wall Street’s sense of relief was China’s central bank injecting a record amount of liquidity into the banking system this week, leading many investors to believe that additional stimulus measures are on the way [see also 7 Simple & Cheap All-ETF Model Portfolios]. Global Market Overview: Spain Makes Bold Move All three major U.S. stock indexes closed higher, despite U.S. GDP coming in at its slowest pace since the third quarter of 2011, durable goods orders declining, and pending home sales dropping in August. As the poor data was ignored, [...]
Click here to read the original article on ETFdb.com.
Related Posts:
