Monday ETF Roundup: AMJ Bounces Higher, VXX Sinks Lower
By Stoyan Bojinov:Stock markets got off to a bullish start as euphoria from last week spilled over while investors also cheered on Apple’s (AAPL) dividend announcement. After months of rumors and speculation, the Apple dividend is finally here. The tech giant announced on Monday morning it would start paying a quarterly distribution, yielding roughly 1.8% as of today’s price at $600 a share. Domestic equity indexes were quite muted in early morning trading, although bullish pressures built up throughout the day, bolstering benchmarks broadly higher into green territory.
Gains in shares of Apple added fuel to the tech sector rally on the home front. The Nasdaq led the way higher on Wall Street, gaining 0.76% on the day, while the Dow Jones Industrial Average lagged behind, gaining 0.05%. Investors reacted positively to the latest home builders index release despite the slightly worse-than-expected results. The figure came in unchanged at 28, versus analystComplete Story »