With no major economic releases to steer investors’ attention away from corporate earnings, sour quarterly performance results stole the headlines. Selling pressures persisted right from the opening bell as worse-than-expected reports from bellwethers DuPont and 3M caused a host of global growth worries to resurface; chemical maker DuPont reported a smaller-than-expected profit and announced it would need to cut about 1,500 jobs, while conglomerate 3M revised its forecast lower due to slowing growth in European and Asian markets [see Free 7 Simple & Cheap ETF Portfolios]. Investors will have a chance to digest economic news aside from earnings later today as the September new home sales data hits the street. As such, our chart to watch for the day is the State Street SPDR Homebuilders ETF [etf ticker='XHB' ratings='true'], which may see an uptick in trading activity following the latest housing market report. Analysts are expecting for the new home sales figure to come [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Housing Soars, Earnings Miss Tuesday’s ETF Chart To Watch: SPDR Homebuilders ETF (XHB) Daily ETF Roundup: Fed Division Spooks Markets 5 Chart Patterns Every ETF Trader Should Know Thursday’s ETF Chart To Watch: SPDR Homebuilders ETF (XHB)
With no major economic releases to steer investors’ attention away from corporate earnings, sour quarterly performance results stole the headlines. Selling pressures persisted right from the opening bell as worse-than-expected reports from bellwethers DuPont and 3M caused a host of global growth worries to resurface; chemical maker DuPont reported a smaller-than-expected profit and announced it would need to cut about 1,500 jobs, while conglomerate 3M revised its forecast lower due to slowing growth in European and Asian markets [see Free 7 Simple & Cheap ETF Portfolios]. Investors will have a chance to digest economic news aside from earnings later today as the September new home sales data hits the street. As such, our chart to watch for the day is the State Street SPDR Homebuilders ETF [etf ticker='XHB' ratings='true'], which may see an uptick in trading activity following the latest housing market report. Analysts are expecting for the new home sales figure to come [...]
Click here to read the original article on ETFdb.com.
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