Stocks drifted lower on Wednesday after euro zone debt-woes resurfaced and investors at home were disappointed with Apple’s rare earnings miss. Despite slightly worse-than-expected third quarter performance results, analysts at Deutsche Bank are maintaining their “Buy” rating on shares of Apple, with a price target of $530. Beige Book data was also released yesterday, showing that the U.S. economy remains on track for a modest recovery. “The report supports the perception that the post-downgrade volatility has caused the economy to slow, but not collapse,” said Thomas Simons, money market economist at Jefferies. Gold prices remain range-bound and the precious metal drifted lower on Wednesday despite weakness across equity markets. Futures prices for the yellow metal settled just above $1,640 an ounce for the day. Telecom giant AT&T is slated to report earnings later today and analyst are expecting for the company to rake in $31.62 billion in revenues and generate [...] Click here to read the original article on ETFdb.com. Related Posts: Wednesday’s ETF To Watch: U.S. Telecommunications Index Fund (IYZ) Will Tax Hikes Slam Telecom ETFs? “Net Neutrality” Court Ruling Puts Telecom ETFs In Focus Seven Surprising ETF Holdings: Why Investors Should Always Look Under The Hood May ETFdb Category Kings: Best Performing ETFs
Stocks drifted lower on Wednesday after euro zone debt-woes resurfaced and investors at home were disappointed with Apple’s rare earnings miss. Despite slightly worse-than-expected third quarter performance results, analysts at Deutsche Bank are maintaining their “Buy” rating on shares of Apple, with a price target of $530. Beige Book data was also released yesterday, showing that the U.S. economy remains on track for a modest recovery. “The report supports the perception that the post-downgrade volatility has caused the economy to slow, but not collapse,” said Thomas Simons, money market economist at Jefferies. Gold prices remain range-bound and the precious metal drifted lower on Wednesday despite weakness across equity markets. Futures prices for the yellow metal settled just above $1,640 an ounce for the day. Telecom giant AT&T is slated to report earnings later today and analyst are expecting for the company to rake in $31.62 billion in revenues and generate [...]
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