Stocks climbed higher on Wednesday as investors cheered a better-than-expected ADP employment report along with optimism that Europe would recapitalize its banks. “These economic data points really point toward an environment that is slow growth and not a recession, yet we’ve priced in a recession,” said Burt White, chief investment officer for LPL Financial. Many investors are considering Tuesday’s last-hour rally to be indicative of a stock market bottom, however, we’re concerned that negative news out of Europe will easily spark another round of panic-selling on Wall Street. Gold futures haven’t moved much this week, although the precious metal does appear to be building support above the $1,600 an ounce level, hinting at a potential rebound in the coming days. European debt woes continue to dominate news headlines and investors will be paying close attention to the European Central Bank when it releases its decision regarding interest rates later today. [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Greece Flirts With Default Three ETFs To Watch This Week: PBJ, FXE, KROO Thursday’s ETF To Watch: CurrencyShares Euro Trust (FXE) ETF Insider: Caution, Bumpy Trading Ahead Three ETFs To Watch This Week: GLD, FAA, FXE
Stocks climbed higher on Wednesday as investors cheered a better-than-expected ADP employment report along with optimism that Europe would recapitalize its banks. “These economic data points really point toward an environment that is slow growth and not a recession, yet we’ve priced in a recession,” said Burt White, chief investment officer for LPL Financial. Many investors are considering Tuesday’s last-hour rally to be indicative of a stock market bottom, however, we’re concerned that negative news out of Europe will easily spark another round of panic-selling on Wall Street. Gold futures haven’t moved much this week, although the precious metal does appear to be building support above the $1,600 an ounce level, hinting at a potential rebound in the coming days. European debt woes continue to dominate news headlines and investors will be paying close attention to the European Central Bank when it releases its decision regarding interest rates later today. [...]
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