Tuesday’s ETF Chart To Watch: Industrial Select Sector SPDR (XLI)
Posted on July 03, 2012 at 04:00 AM EDT
Equity markets got off to a mixed start on Monday morning as conflicting data releases on the home front paved the way for another choppy trading session. Concerns over the domestic manufacturing sector resurfaced as ISM data came in worse-than-expected; the figure came in at 49.7, missing expectations of 52.3 as well as last month’s reading of 53.5. On the other hand, construction spending saw a modest uptick, coming in at 0.9% versus the previous reading of 0.6% [see also ETF Insider: Be Mindful Of Profit Taking]. Investors’ attention will remain fixated on the home front as factory orders data hits the street latest today. The State Street Industrial Select Sector SPDR (XLI) got off to a weak start given the disappointing ISM data, however, this ETF may regain lost ground if the latest factory orders data beats expectations and helps to restore confidence int he manufacturing sector; analysts are expecting for the [...] Click here to read the original article on ETFdb.com. Related Posts: Which Sector ETFs Are Cheap? Wednesday’s ETF Chart To Watch: Industrial Select Sector SPDR (XLI) ETF Insider: Will Economic Data Derail The Bull Train? ETF Insider: France Downgrade Erodes Confidence AdvisorShares Rolls Out SectorSAM ETF (SSAM)
Equity markets got off to a mixed start on Monday morning as conflicting data releases on the home front paved the way for another choppy trading session. Concerns over the domestic manufacturing sector resurfaced as ISM data came in worse-than-expected; the figure came in at 49.7, missing expectations of 52.3 as well as last month’s reading of 53.5. On the other hand, construction spending saw a modest uptick, coming in at 0.9% versus the previous reading of 0.6% [see also ETF Insider: Be Mindful Of Profit Taking]. Investors’ attention will remain fixated on the home front as factory orders data hits the street latest today. The State Street Industrial Select Sector SPDR (XLI) got off to a weak start given the disappointing ISM data, however, this ETF may regain lost ground if the latest factory orders data beats expectations and helps to restore confidence int he manufacturing sector; analysts are expecting for the [...]

Click here to read the original article on ETFdb.com.

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