Daily ETF Roundup: VXX Soars On Spain Bailout, UNG Sinks Lower
After getting off to a strong start, domestic equities declined sharply as investors grew skeptical of whether or not this past weekend’s Spain bailout agreement will help boost confidence in the country’s economy. With many interpreting this as another “last-ditch” attempt to quell Euro Zone fears, panic selling quickly ensued; the Dow Jones Industrial Average snapped its four-day winning streak, shedding 1.1%, while the S&P 500 and Nasdaq dipped into red territory as well, losing 1.3% and 1.7%, respectively [see also Seven Simple & Cheap ETF Model Portfolio]. As with all of the recent Euro Zone developments, investors were simply unconvinced of the EU’s actions towards staving off the next wave of sovereign defaults. In the latest bailout plan, Spain agreed to accept up to $125 billion to recapitalize banks, but contrary to the hopes of government officials, confidence in Spain’s economy continues to decline. Despite this rather grim outlook, China managed [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: UNG Jumps, VXX Falls Daily ETF Roundup: UNG Pops, VXX Drops Daily ETF Roundup: UNG Bounces Back, VXX Tumbles Daily ETF Roundup: UNG Rises Ahead Of Storage Data, VXX Loses 50% For The Year Seven Surprising ETF Performance Comparisons
After getting off to a strong start, domestic equities declined sharply as investors grew skeptical of whether or not this past weekend’s Spain bailout agreement will help boost confidence in the country’s economy. With many interpreting this as another “last-ditch” attempt to quell Euro Zone fears, panic selling quickly ensued;  the Dow Jones Industrial Average snapped its four-day winning streak, shedding 1.1%, while the S&P 500 and Nasdaq dipped into red territory as well, losing 1.3% and 1.7%, respectively [see also Seven Simple & Cheap ETF Model Portfolio]. As with all of the recent Euro Zone developments, investors were simply unconvinced of the EU’s actions towards staving off the next wave of sovereign defaults. In the latest bailout plan, Spain agreed to accept up to $125 billion to recapitalize banks, but contrary to the hopes of government officials, confidence in Spain’s economy continues to decline. Despite this rather grim outlook, China managed [...]

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

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