May 03, 2012 at 18:00 PM EDT
Daily ETF Roundup: UNG Soars on Storage Report, XLE Tanks On Crude’s Dip
Today saw a conflicting swirl of data that ultimately brought markets down. April retail results came in lower than expected as many blamed the cooler than average temperatures for warding off shoppers and consumers willing to open their wallets. The disappointing results came from Target, Costco, and Macy’s among several other names. General Motors, though meeting expectations, provided bad guidance which sent their shares tumbling. At the same time, jobless claims came in rather low, so markets were unsure of how to react at first. Eventually, things headed south as the Dow and S&P 500 posted losses of 0.5% and 0.8% respectively [see also How To Profit From Rising Gasoline Prices]. On the commodity side of things, both gold and oil were slaughtered for the session. The massive sell-off begs the question if an entry point has been reached, but only time will tell if markets agree with that sentiment. [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: UNG Slides, XLE Rises Ten Common Mistakes Every ETF Investor Should Avoid Why OOK Is Crushing XLE Oklahoma ETF: Worth A Close Look May ETF Summary: Return to Old Form
Today saw a conflicting swirl of data that ultimately brought markets down. April retail results came in lower than expected as many blamed the cooler than average temperatures for warding off shoppers and consumers willing to open their wallets. The disappointing results came from Target, Costco, and Macy’s among several other names. General Motors, though meeting expectations, provided bad guidance which sent their shares tumbling. At the same time, jobless claims came in rather low, so markets were unsure of how to react at first. Eventually, things headed south as the Dow and S&P 500 posted losses of 0.5% and 0.8% respectively [see also How To Profit From Rising Gasoline Prices]. On the commodity side of things, both gold and oil were slaughtered for the session. The massive sell-off begs the question if an entry point has been reached, but only time will tell if markets agree with that sentiment. [...]

Click here to read the original article on ETFdb.com.

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