Selling pressures swept over Wall Street on Wednesday as mixed earnings on the day and upcoming economic data releases prompted many to lock-in profits. Investors rejoiced as Apple beat analysts’ estimates and rallied +5% on the day, although a worse-than-expected forecast from Caterpillar sent a wave of worry across the market as investors interpreted the words of cautions from the machinery giant as a sign that global growth is still sluggish at best [see How To Take Profits And Cut Losses When Trading ETFs]. Our ETF to watch for the day is the Industrial Select Sector SPDR , which will look to summit resistance after investors digest the latest round of manufacturing data. Analysts are expecting for June durable goods orders to have grown by 2.3%, which is a slight deterioration from last month’s reading of 3.7%. Chart Analysis Consider XLI’s one-year daily performance chart below. This ETF has been trading higher [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: XLI Falls On Caterpillar’s Earnings, DBB Gains On Aluminum’s Strength Earnings Preview: Gold Miners, Apple, And Aerospace Report Earnings Preview: Banks, Techs, And Healthcare Report ETFdb Weekly Watchlist: XRT, GLD, XLI Hinge On Retail Sales, Bernanke, and Philly Fed Daily ETF Roundup: XLI Pops, XHB Rallies On Foreclosure Data
Selling pressures swept over Wall Street on Wednesday as mixed earnings on the day and upcoming economic data releases prompted many to lock-in profits. Investors rejoiced as Apple beat analysts’ estimates and rallied +5% on the day, although a worse-than-expected forecast from Caterpillar sent a wave of worry across the market as investors interpreted the words of cautions from the machinery giant as a sign that global growth is still sluggish at best [see How To Take Profits And Cut Losses When Trading ETFs]. Our ETF to watch for the day is the Industrial Select Sector SPDR , which will look to summit resistance after investors digest the latest round of manufacturing data. Analysts are expecting for June durable goods orders to have grown by 2.3%, which is a slight deterioration from last month’s reading of 3.7%. Chart Analysis Consider XLI’s one-year daily performance chart below. This ETF has been trading higher [...]
Click here to read the original article on ETFdb.com.
Related Posts:- Daily ETF Roundup: XLI Falls On Caterpillar’s Earnings, DBB Gains On Aluminum’s Strength
- Earnings Preview: Gold Miners, Apple, And Aerospace Report
- Earnings Preview: Banks, Techs, And Healthcare Report
- ETFdb Weekly Watchlist: XRT, GLD, XLI Hinge On Retail Sales, Bernanke, and Philly Fed
- Daily ETF Roundup: XLI Pops, XHB Rallies On Foreclosure Data
