After a dismal end to last week, stocks rallied at the market open yesterday as news of strict fiscal cuts in Greece gave hope to a number of investors and analysts alike. ”There was some apprehension about it, but the fact of the matter is it was done, and it’s given some very real clarity to markets in terms of what kind of risk Greece represents to the market,” said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey. This good news will hopefully keep Greece on the back-burner for the time being, as a slew of key economic data is slated to be released this week [see also Doomsday Special: 7 Hard Asset Investments You Can Hold in Your Hand]. One of the most significant reports will come from U.S. advance retail sales, which will be detailed during today’s trading session. This report is a monthly measure of the [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: XLY Surges On Jobs Report, VXX Tumbles 5% On Market Strength Beyond XLY: Considering Consumer Discretionary ETFs AdvisorShares Rolls Out SectorSAM ETF (SSAM) Tuesday’s ETF Chart To Watch: Consumer Discretionary Select Sector SPDR (XLY) Tuesday’s ETF Chart To Watch: State Street Consumer Discretionary SPDR (XLY)
After a dismal end to last week, stocks rallied at the market open yesterday as news of strict fiscal cuts in Greece gave hope to a number of investors and analysts alike. ”There was some apprehension about it, but the fact of the matter is it was done, and it’s given some very real clarity to markets in terms of what kind of risk Greece represents to the market,” said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey. This good news will hopefully keep Greece on the back-burner for the time being, as a slew of key economic data is slated to be released this week [see also Doomsday Special: 7 Hard Asset Investments You Can Hold in Your Hand]. One of the most significant reports will come from U.S. advance retail sales, which will be detailed during today’s trading session. This report is a monthly measure of the [...]
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