It seems that yesterday’s rumors of strong China GDP growth were merely that, rumors. GDP sank to 8.1%, the weakest in three years, causing stocks to erase Thursday’s bull run as volatility spiked yet again, marking one of the more active weeks in recent memory. The Dow lost over 130 points while the S&P surrendered nearly 1.3%, all of this coming even after Google, JP Morgan, and Wells Fargo surpassed earnings expectations. While many investors had hoped for earnings season to be the main focus of the next few weeks, global issues concerning the euro debt crisis and now China’s lagging growth is creating a major cause for concern [see also Doomsday Special: 7 Hard Asset Investments You Can Hold in Your Hand]. Gold was one of the hardest hit assets on the day, as it sank 25 points, creating a major opportunity for gold bugs around the world. Crude [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: XLF Tanks On Europe Fears, VXX Soars Amidst Uncertainty Daily ETF Roundup: XLF Surges On Europe Hopes, VXX Plunges On Market Strenght Daily ETF Roundup: XLF Surges On Euro Zone Hopes, VXX Sinks On Equity Surge August ETF Stats: Keeping The Winning Streak Alive (Just Barely) Daily ETF Roundup: VXX Sinks On German Court Ruling, XLF Surges On BAC Management Change
It seems that yesterday’s rumors of strong China GDP growth were merely that, rumors. GDP sank to 8.1%, the weakest in three years, causing stocks to erase Thursday’s bull run as volatility spiked yet again, marking one of the more active weeks in recent memory. The Dow lost over 130 points while the S&P surrendered nearly 1.3%, all of this coming even after Google, JP Morgan, and Wells Fargo surpassed earnings expectations. While many investors had hoped for earnings season to be the main focus of the next few weeks, global issues concerning the euro debt crisis and now China’s lagging growth is creating a major cause for concern [see also Doomsday Special: 7 Hard Asset Investments You Can Hold in Your Hand]. Gold was one of the hardest hit assets on the day, as it sank 25 points, creating a major opportunity for gold bugs around the world. Crude [...]
Click here to read the original article on ETFdb.com.
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