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Friday’s ETF Chart To Watch: Consumer Discretionary Select Sector SPDR (XLY)
Stocks continued their slide for a second day as post-election profit-taking pressures were alive and kicking on Wall Street. Gloomy headlines from Europe were at the forefront after it was reported that finance ministers might delay their decision on when to release aid for Greece. Better-than-expected economic data at home went largely unnoticed; weekly jobless claims came in at 355,000 versus the expected 365,000, showcasing the ongoing recovery in the domestic labor market [see Free 7 Simple & Cheap All-ETF Portfolios]. With no major data releases take place overseas, investors will bring their attention back to the home front as consumer confidence data hits the street after the opening bell. As such, our ETF to watch for the day is the State Street Consumer Discretionary Select Sector SPDR , which may see an uptick in trading volumes as markets digest the latest sentiment reading and gain further insights into the health of the U.S. [...]
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2012-11-09 15:40:07
Source: http://etfdb.com/2012/fridays-etf-chart-to-watch-consumer-discretionary-select-sector-spdr-xly-3/
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