Stock indices and index ETFs rallied again on Friday, after an overnight selloff on Thursday, and are extending gains in afternoon trade led by Apple and consumer cyclical stocks.
New data released on Friday already showed pockets of the economy achieving faster rates of recovery. Existing home sales climbed to a record in July to surpass pre-virus levels, as historically low interest rates and pent-up demand catalyzed a plethora of home purchases. And IHS Markit’s flash PMIs revealed that the service economy reached expansionary territory in August while manufacturing activity gained more than anticipated.
For more market trends, visit ETF Trends.