Major equity indexes drifted sideways throughout most of the day as profit taking pressures crept in for a second day in a row on Wall Street. Bullish euphoria following last week’s announcement of QE3 appears to be fading away as investors digest the reality of the situation which remains to be a sluggish recovery at home coupled with a political gridlock in the Euro zone. As such, profit taking pressures intensified after FedEx lowered its profit forecast amid growing concerns that Europe will remain on thin ice over the coming months [see also Seven Simple & Cheap All-ETF Model Portfolios]. Global Market Overview: Stocks Flat On Mixed Data Stocks broadly traded flat on the day with the NASDAQ-focused PowerShares QQQ ETF taking the lead higher as shares of Apple bolstered the benchmark higher for yet another session. The SPDR S&P 500 ETF was the worst performer on the day among the major funds, [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: XLF Rises On Euro Hopes, UNG Sinks To All Time Low Daily ETF Roundup: XLF Posts Monster Gain, UNG Takes Another Hit Daily ETF Roundup: UNG Sinks On Irene Outages, XLF Jumps On Insurer Rebound Daily ETF Roundup: UNG Sinks On Weak EIA Report, XLF Soars On Strong Earnings Daily ETF Roundup: UNG Tumbles On Mild Forecast, XLF Rises On M&A Activity
Major equity indexes drifted sideways throughout most of the day as profit taking pressures crept in for a second day in a row on Wall Street. Bullish euphoria following last week’s announcement of QE3 appears to be fading away as investors digest the reality of the situation which remains to be a sluggish recovery at home coupled with a political gridlock in the Euro zone. As such, profit taking pressures intensified after FedEx lowered its profit forecast amid growing concerns that Europe will remain on thin ice over the coming months [see also Seven Simple & Cheap All-ETF Model Portfolios]. Global Market Overview: Stocks Flat On Mixed Data Stocks broadly traded flat on the day with the NASDAQ-focused PowerShares QQQ ETF taking the lead higher as shares of Apple bolstered the benchmark higher for yet another session. The SPDR S&P 500 ETF was the worst performer on the day among the major funds, [...]
Click here to read the original article on ETFdb.com.
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