Wednesday’s ETF Chart To Watch: Industrial Select Sector SPDR (XLI)
Equity markets dragged sideways with a downward bias as “fiscal cliff” headlines took a pessimistic turn after President Obama held his ground on the issue of raising tax rates for the wealthiest of Americans. As the gridlock in Congress continues to boil, trading activity remains fairly range-bound on Wall Street with no major data releases having enough sway to bolster stocks in either direction; on the international front, the Reserve Bank of Australia cut its benchmark rate down to 3.0%, while the Bank of Canada kept theirs unchanged at 1.0% [see also 5 ETF Bargains For The Holiday Shopping Season]. Our spotlight will shift onto the State Street Industrial Select Sector SPDR , which may see an increase in trading activity as investors digest October’s factory orders data after the opening bell. The U.S. industrial sector has been on the radar screen for many since last week’s encouraging GDP report, [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Lackluster ISM Data Pulls Stocks Lower 3 ETFs To Watch This Week: XLI, FXA, EU ETF Insider: Debt Drama Spoils Confidence 3 ETFs To Watch This Week: XLI, EWL, XLY Friday’s ETF Chart To Watch: Industrial Select Sector SPDR (XLI)
Equity markets dragged sideways with a downward bias as “fiscal cliff” headlines took a pessimistic turn after President Obama held his ground on the issue of raising tax rates for the wealthiest of Americans. As the gridlock in Congress continues to boil, trading activity remains fairly range-bound on Wall Street with no major data releases having enough sway to bolster stocks in either direction; on the international front, the Reserve Bank of Australia cut its benchmark rate down to 3.0%, while the Bank of Canada kept theirs unchanged at 1.0% [see also 5 ETF Bargains For The Holiday Shopping Season]. Our spotlight will shift onto the State Street Industrial Select Sector SPDR , which may see an increase in trading activity as investors digest October’s factory orders data after the opening bell. The U.S. industrial sector has been on the radar screen for many since last week’s encouraging GDP report, [...]

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

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