Stocks got off to a solid start this week as Wall Street took a bullish cue from European markets and rose on optimism that lawmakers would soon finalize a “plan of action” for Greece. Domestic equity indexes all finished in green territory on Monday, although trading was a bit choppy in the morning hours. The market “needs some kind of concrete plan to stabilize” and it has “got to be something other than guesswork,” said Stephen Carl, head equity trader at The Williams Capital Group, referring to speculation that the European Central Bank may cut interest rates. On the home front, investors digested a plateful of gloomy housing market data as new home sales dropped 2.3% last month, marking the fourth consecutive month of declines. Gold continues to plunge lower as the precious metal broke below $1,550 an ounce just before Wall Street’s opening bell, managing to climb higher during the [...] Click here to read the original article on ETFdb.com. Related Posts: Wednesday’s ETF To Watch: Consumer Discretionary Select Sector SPDR (XLY) Friday’s ETF To Watch: Consumer Discretionary SPDR (XLY) ETF Insider: Markets In Limbo ETFs & Sector Rotation: Large Cap, Small Cap, Or International? Friday’s ETF To Watch: Consumer Discretionary Select Sector SPDR (XLY)
Stocks got off to a solid start this week as Wall Street took a bullish cue from European markets and rose on optimism that lawmakers would soon finalize a “plan of action” for Greece. Domestic equity indexes all finished in green territory on Monday, although trading was a bit choppy in the morning hours. The market “needs some kind of concrete plan to stabilize” and it has “got to be something other than guesswork,” said Stephen Carl, head equity trader at The Williams Capital Group, referring to speculation that the European Central Bank may cut interest rates. On the home front, investors digested a plateful of gloomy housing market data as new home sales dropped 2.3% last month, marking the fourth consecutive month of declines. Gold continues to plunge lower as the precious metal broke below $1,550 an ounce just before Wall Street’s opening bell, managing to climb higher during the [...]
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