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Friday’s ETF Chart To Watch: XHB Rebound In Focus After Housing Starts Data
Selling pressures swarmed Wall Street yesterday as mixed data releases and lackluster corporate earnings made for an uncertain landscape. Thursday saw encouraging weekly jobless claims data collide with worse-than-expected industrial production figures, while on the corporate front Cisco announced layoffs and issued a cautious outlook, and retail juggernaut Wal-Mart fell short of analysts’ estimates for the quarter [see Visual Guide: Major Index Returns By Year]. Our chart to watch for today is the SPDR Homebuilders ETF , which may experience volatile trading after investors react to the latest housing starts data. Analysts are expecting for the July housing starts figure to come in at 915,000, which would mark a substantial jump from the previous reading of 836,000. Chart Analysis Consider XHB’s one-year daily performance chart below. This ETF has struggled to resume its steep uptrend following its pullback after hitting $32.69 a share on 5/22/2013; since then, XHB has oscillated around the $30 [...]
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Source: http://etfdb.com/2013/fridays-etf-chart-to-watch-xhb-rebound-in-focus-after-housing-starts-data/
