Daily ETF Roundup: GDXJ Pops Alongside Gold, XLE Rallies

Wall Street started off the month of June with a bang, with all three major indexes rallying in the final minutes of trading after a somewhat choppy session. In economic news, the Institute for Supply Managements index of manufacturing activity unexpectedly contracted in May, marking its first decline in six months. In a separate report, the Commerce Department reported construction spending for April rising less than expected. Investors weighed these underwhelming U.S. economic reports against potential monetary policy changes by the Fed. As such, many will be keeping a close eye on the monthly government employment report at the end of the week [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: GDXJ Pops Alongside Gold, XLE Rallies Despite today’s downbeat economic reports, all three major U.S. equity indexes managed to close in positive territory. The Dow Jones Industrial Average ETF rose 0.80% higher after its underlying index rallied more than [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: DBP Pops On Fed Speculations, XLE Rallies Daily ETF Roundup: YCS Pops On Strong Dollar, XLE Rallies Daily ETF Roundup: S&P Posts Record High, XLF And XLE Rally Daily ETF Roundup: Stocks Snap 4-day Win Streak In Lackluster Session Daily ETF Roundup: Dow Sets Yet Another Record