Equity markets drifted sideways on Wednesday as investors digested good news from overseas along with worrisome corporate results at home. The Nasdaq led the way lower, sinking 0.99% on the day, after tech juggernaut Oracle posted disappointing earnings. The S&P 500 Index managed to gain 0.20% ahead of tomorrow’s U.S. GDP report, while the Dow Jones Industrial Average was fairly flat, clinching a minor 0.03% gain on the day. Gold futures drifted around the $1,615 an ounce level while crude oil staged an impressive rally, gaining 1.8% for the day and settling just above $99 a barrel. Disappointing earnings results from Oracle tipped the markets south in early trading as investors jumped ship from the U.S. tech sector. Selling pressures spread across the market as investors demonstrated their anxiety ahead of tomorrows U.S. GDP report, which is largely expected to be a pivotal event before the holiday weekend [see Low [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: VXX Sinks, XLU Jumps Higher Three Low Beta Equity ETFs For A Volatile Market Daily ETF Roundup: XLU Rises, VXX Continues Slide Ten ETF Ideas For 2010 Daily ETF Roundup: XHB Surges On Housing Starts, VXX Gets Clobbered By Strong Markets
Equity markets drifted sideways on Wednesday as investors digested good news from overseas along with worrisome corporate results at home. The Nasdaq led the way lower, sinking 0.99% on the day, after tech juggernaut Oracle posted disappointing earnings. The S&P 500 Index managed to gain 0.20% ahead of tomorrow’s U.S. GDP report, while the Dow Jones Industrial Average was fairly flat, clinching a minor 0.03% gain on the day. Gold futures drifted around the $1,615 an ounce level while crude oil staged an impressive rally, gaining 1.8% for the day and settling just above $99 a barrel. Disappointing earnings results from Oracle tipped the markets south in early trading as investors jumped ship from the U.S. tech sector. Selling pressures spread across the market as investors demonstrated their anxiety ahead of tomorrows U.S. GDP report, which is largely expected to be a pivotal event before the holiday weekend [see Low [...]
Click here to read the original article on ETFdb.com.
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