February ETF Performance Report
February 26th at 1:47pm by Tom Lydon
February was, simply put, up and down for exchange traded funds (ETFs) and the broader markets. Traders vacillated between sovereign debt worries and feelings that that U.S. stock market just might be a safe haven.
U.S. gross domestic product (GDP) expanded at a 5.9% annual rate last year, but economists caution that we shouldn’t rest on our laurels. Federal Reserve Chairman Ben Bernanke addressed the state of the recovery this week, noting that while they were pleased with the strides made so far, the economy has a long row to hoe. As a result, interest rates are expected to be kept at rock-bottom in order to keep things moving along at a healthy clip.
The Dow Jones Industrial Average had its best month since November, gaining 2.6%. The S&P added 2.9% and the Nasdaq bested all other major indexes with a 4.2% gain.
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