Profit-taking pressures swept across Wall Street as savvy traders were quick to lock in gains following an impressive start to the week. Budget negotiations in Washington D.C. remain at a standstill, leading many to believe that recent optimism could soon turn sour when reality hits and automatic tax increases take a bite out of bottom line returns. Sluggish housing market data received little attention amid looming “fiscal cliff” woes; November’s housing starts figure came in at 861,000, failing to beat last month’s reading of 888,000 [see 101 High Yielding ETFs For Every Dividend Investor]. All eyes will remain fixated on the homefront tomorrow as investors digest the latest U.S. GDP reading. As such, the State Street SPDR Gold Trust may be in for a wild trading session if economic growth greatly deviates from expectations. Analysts are estimating that the U.S. economy will post growth of 2.9% this time around, marking a modest improvement from [...] Click here to read the original article on ETFdb.com. Related Posts: ETFs Then And Now Checking In On the 10 Largest ETFs Year To Date Wednesday’s ETF Chart To Watch: SPDR Gold Trust (GLD) ETF Insider: Gridlock And Optimism Sway Stocks 3 ETFs To Watch This Week: EWJ, GLD, RTH
Profit-taking pressures swept across Wall Street as savvy traders were quick to lock in gains following an impressive start to the week. Budget negotiations in Washington D.C. remain at a standstill, leading many to believe that recent optimism could soon turn sour when reality hits and automatic tax increases take a bite out of bottom line returns. Sluggish housing market data received little attention amid looming “fiscal cliff” woes; November’s housing starts figure came in at 861,000, failing to beat last month’s reading of 888,000 [see 101 High Yielding ETFs For Every Dividend Investor]. All eyes will remain fixated on the homefront tomorrow as investors digest the latest U.S. GDP reading. As such, the State Street SPDR Gold Trust may be in for a wild trading session if economic growth greatly deviates from expectations. Analysts are estimating that the U.S. economy will post growth of 2.9% this time around, marking a modest improvement from [...]
Click here to read the original article on ETFdb.com.
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