Friday’s ETF Chart To Watch: SPDR S&P 500 (SPY)
Buying pressures continue to reign supreme on Wall Street as economic data releases are not giving the bulls many reasons to back off. Corporate earnings took a backseat on Wednesday as better-than-expecting housing and employment data made its way to center stage; weekly jobless claims came in at 335,000 versus the previous reading of 372,000 marking a healthy improvement in the domestic labor market. To top it off, December’s housing starts figure came in at 954,000, blowing past estimates of 883,000 as well as last month’s reading of 851,000 [see ETF Technical Trading FAQ]. Investors will keep their eyes on the homefront today as earnings results continue to roll in, while the latest consumer sentiment report should offer valuable insights as well. With major equity indexes sitting on hefty gains thus far in the new year, our ETF to watch for the day will be the well-known SPDR S&P 500 [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Stocks Rally On Positive Economic Data Daily ETF Roundup: Stocks Slide Sideways Why SPY Has No Love For Buffett And Berkshire Daily ETF Roundup: Jobs Report Boosts Markets Daily ETF Roundup: Fed Minutes Spook Stocks
Buying pressures continue to reign supreme on Wall Street as economic data releases are not giving the bulls many reasons to back off. Corporate earnings took a backseat on Wednesday as better-than-expecting housing and employment data made its way to center stage; weekly jobless claims came in at 335,000 versus the previous reading of 372,000 marking a healthy improvement in the domestic labor market. To top it off, December’s housing starts figure came in at 954,000, blowing past estimates of 883,000 as well as last month’s reading of 851,000 [see ETF Technical Trading FAQ]. Investors will keep their eyes on the homefront today as earnings results continue to roll in, while the latest consumer sentiment report should offer valuable insights as well. With major equity indexes sitting on hefty gains thus far in the new year, our ETF to watch for the day will be the well-known SPDR S&P 500 [...]

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

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