Mid Day Roundup: Stocks Drift Sideways After Bank Downgrades
After a volatile day of trading, U.S. stocks managed to bounce back from yesterday’s steep sell off as several long-anticipated global bank downgrades surprisingly led financials higher. Obviously the name of the game today is “buying on bad news”, a trend that has frequently popped up on Wall Street over the past couple of weeks. From another perspective, this morning’s rally could simply be the case of markets taking a breather from yesterday’s brutal pounding. Similarly, investors could also be looking at the downgrades as a necessary correction, eliminating the threats of the unknown and of prior bank speculations [see also 101 ETF Lessons Every Financial Advisor Should Learn]. Moody’s Investors Service laid its cards on the table today, delivering a major blow to the financial industry. More than a dozen global banks were downgraded, reflecting the sector’s struggle to keep afloat amidst slow economic conditions. To add to the list of [...] Click here to read the original article on ETFdb.com. Related Posts: Fund Managers Turn Bullish As “Risk Appetite” Increases Three Intriguing Alternatives To Popular ETFs (SPY, XLF, FXI) Ten Commandments Of ETF Investing ETFs With Significant Goldman Sachs Exposure Will Financial ETFs Ride M&A Wave Higher?
After a volatile day of trading, U.S. stocks managed to bounce back from yesterday’s steep sell off as several long-anticipated global bank downgrades surprisingly led financials higher. Obviously the name of the game today is “buying on bad news”, a trend that has frequently popped up on Wall Street over the past couple of weeks. From another perspective, this morning’s rally could simply be the case of markets taking a breather from yesterday’s brutal pounding. Similarly, investors could also be looking at the downgrades as a necessary correction, eliminating the threats of the unknown and of  prior bank speculations [see also 101 ETF Lessons Every Financial Advisor Should Learn].  Moody’s Investors Service laid its cards on the table today, delivering a major blow to the financial industry. More than a dozen global banks were downgraded, reflecting the sector’s struggle to keep afloat amidst slow economic conditions. To add to the list of [...]

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

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