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ETFs Rise On Employment, Presidential Debate

ByWall Street Sector Selector
AuthorJohn Nyaradi
Published 10/04/2012, 02:16 AM
Updated 05/14/2017, 06:45 AM
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Stocks and ETFs rose slightly yesterday after positive economic reports and in anticipation of last night’s Presidential debate

Stocks and ETFs rose slightly yesterday after the ADP unemployment report indicated an increase of 126,000 jobs added to the private sector in September, while yesterday’s ISM Non-Manufacturing Index Report also indicated improvement.

Major index ETFs rose slightly, with the S&P 500 ETF (NYSEARCA:SPY) rising roughly half a percent and the Dow Jones Industrial Average ETF (NYSEARCA:DIA) rising a little more than one tenth of a percent. The NASDAQ ETF (NYSEARCA:QQQ) added .44%, while the Russell 2000 ETF (NYSEARCA:IWM) was yesterday’s only loser with a three tenths of a percent decrease.

One would think that yesterday’s positive economic reports would have a greater impact on stocks and ETFs, even with mixed news from Europe and Japan and last night’s Presidential debate. All in all, it appears investors are still waiting for a line to be drawn in the sand and a direction to go from here. Who draws that line (Bernanke, Draghi, or a President) is anyone’s guess at this point now.

Bottom Line: Yesteroday’s positive economic reports did not phase stocks too much, so perhaps investors are awaiting a bigger push.

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