Major equity indexes traded sideways for most of the session on Wall Street, ending up in mixed territory as the closing bell rang. Profit-taking pressures emerged as the latest FOMC minutes revealed that top Fed officials are leaning towards another round of bond buying. Highlights from the report include the following statement, “Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery.” Although the economic landscape has surely improved in recent months, the Fed is clearly still cautious about taking off the “training wheels” so to speak [see also The Ultimate Commodities Survival Kit: 5 Must-Haves]. Investors’ focus will remain on the homefront today as housing market data hits the street, which brings the spotlight onto the State Street SPDR Homebuilders ETF (XHB, A+) for the day. XHB could be in for a wild [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: XHB Pops, UNG Sinks On Storage Data Daily ETF Roundup: UNG Pops On Weather Reports, XHB Drops ETF Insider: Run For The Hills ETF Insider: Earnings, The Fed, And Spain Oh My! 17 ETFs For Day Traders
Major equity indexes traded sideways for most of the session on Wall Street, ending up in mixed territory as the closing bell rang. Profit-taking pressures emerged as the latest FOMC minutes revealed that top Fed officials are leaning towards another round of bond buying. Highlights from the report include the following statement, “Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery.” Although the economic landscape has surely improved in recent months, the Fed is clearly still cautious about taking off the “training wheels” so to speak [see also The Ultimate Commodities Survival Kit: 5 Must-Haves]. Investors’ focus will remain on the homefront today as housing market data hits the street, which brings the spotlight onto the State Street SPDR Homebuilders ETF (XHB, A+) for the day. XHB could be in for a wild [...]
Click here to read the original article on ETFdb.com.
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