Courtesy of John Nyaradi.
Markets and ETFs were quiet today as investors left for their annual Easter Egg Hunts
In other words, markets and Index ETFs declined slightly this week as investors mulled over declines in European Indexes and a positive initial unemployment claims report. Today’s Initial Unemployment Claims report indicated 6000 fewer new unemployment claims compared to last week, so that is good. 363,000 people filed for initial unemployment for the week of 3/31 compared to the previous week.
Index ETFs were mixed as well, as the SPDR S&P 500 ETF (NYSEARCA:SPY) declined .04%, the SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) lost .07%, the PowerShares QQQ Trust Series 1 ETF (NASDAQ:QQQ) gained .62%, and the iShares Russell 200 Index ETF (NYSEARCA:IWM) lost .52%.
Perhaps the biggest deal today is that US markets are closed tomorrow, with an emphasis on the fact that tomorrow brings Nonfarm payrolls, Unemployment Rate, Average Hourly Earnings Report, and Consumer Credit reports. In short, Monday could be interesting as investors will not be able to react to these reports until Monday, regardless of whether the reports are positive or negative.
This week’s highlights included positive a ADP Employment Report and Weekly Jobless Claims reports, while negative news centered around Dr. Ben’s FOMC Minutes, which indicated a currently empty Fed Punchbowl.
Bottom Line: Markets and ETFs left for Easter today, tomorrow brings a slew of large economic reports which could have a large impact on Monday’s trading.
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