The bears were quick to return following yesterday’s rally, sparking a wave of profit-taking on Wall Street fueled by lackluster fundamental developments. Housing market euphoria was overshadowed by a sluggish labor market report on the day; weekly jobless claims came in at 388,000, well above the previous reading of 342,000, causing uncertainties to resurface. To top it off, Google missed the earnings mark, which lead to a steep sell-off for the tech giant and sinking shares upwards of 8% on the day [see Free 7 Simple & Cheap ETF Portfolios]. Earnings reports will continue to dominate headlines and our focus will shift to the State Street Consumer Discretionary Select Sector SPDR (XLY, A) for the day as its third largest holding is slated to report quarterly performance results. Industry juggernaut McDonald’s (MCD) is slated to release earnings later today, which could have a major impact on XLY’s performance as this ETF allocates about 6.5% of [...] Click here to read the original article on ETFdb.com. Related Posts: Friday’s ETF Chart To Watch: Consumer Discretionary Select Sector SPDR (XLY) Charts Are Aligning For XLU Tuesday’s ETF Chart To Watch: Consumer Discretionary Select Sector SPDR (XLY) ETF Insider: Low Volume Trading Can Be Deceiving ETF Insider: No News Could Be Good News
The bears were quick to return following yesterday’s rally, sparking a wave of profit-taking on Wall Street fueled by lackluster fundamental developments. Housing market euphoria was overshadowed by a sluggish labor market report on the day; weekly jobless claims came in at 388,000, well above the previous reading of 342,000, causing uncertainties to resurface. To top it off, Google missed the earnings mark, which lead to a steep sell-off for the tech giant and sinking shares upwards of 8% on the day [see Free 7 Simple & Cheap ETF Portfolios]. Earnings reports will continue to dominate headlines and our focus will shift to the State Street Consumer Discretionary Select Sector SPDR (XLY, A) for the day as its third largest holding is slated to report quarterly performance results. Industry juggernaut McDonald’s (MCD) is slated to release earnings later today, which could have a major impact on XLY’s performance as this ETF allocates about 6.5% of [...]
Click here to read the original article on ETFdb.com.
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