The bulls pumped their breaks for the second day in a row as economic uncertainties from around the globe weighed on investors’ confidence. On the homefront, weekly jobless claims came in worse than expected, sparking a round of profit-taking on Wall Street despite encouraging new home sales data. Overseas, the bears were quick to emerge as China reported a slowdown in manufacturing activity while looming worries over the health of the debt-burdened eurozone prompted talks of a recession [see also 17 ETFs For Day Traders]. Investors will keep their eyes homeward tomorrow as much anticipated durable goods orders data hits the street at the opening bell. As such, our ETF to watch for the day is the State Street SPDR Gold Trust (GLD, A), which may experience volatile trading especially if the latest data release encourages investors to jump ship to the safe havens. Analysts are expecting for July durable goods orders to have [...] Click here to read the original article on ETFdb.com. Related Posts: 3 ETFs To Watch This Week: GLD, EWUS, XLI ETF Insider: Low Volume Trading Can Be Deceiving Huge Gaps Between Metals, Miners ETFs ETF Insider: No News Could Be Good News Friday’s ETF Chart To Watch: SPDR Gold Trust (GLD)
The bulls pumped their breaks for the second day in a row as economic uncertainties from around the globe weighed on investors’ confidence. On the homefront, weekly jobless claims came in worse than expected, sparking a round of profit-taking on Wall Street despite encouraging new home sales data. Overseas, the bears were quick to emerge as China reported a slowdown in manufacturing activity while looming worries over the health of the debt-burdened eurozone prompted talks of a recession [see also 17 ETFs For Day Traders]. Investors will keep their eyes homeward tomorrow as much anticipated durable goods orders data hits the street at the opening bell. As such, our ETF to watch for the day is the State Street SPDR Gold Trust (GLD, A), which may experience volatile trading especially if the latest data release encourages investors to jump ship to the safe havens. Analysts are expecting for July durable goods orders to have [...]
Click here to read the original article on ETFdb.com.
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