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Mid Day Roundup: Stocks Slump As Stimulus Hopes Fizzle
June 21, 2012 at 12:59 PM EDT
Investor confidence was shot on Wall Street this morning, as a slew of lackluster economic data sent U.S. equities into a tailspin. Yesterday’s “semi-comforting” Fed announcement of the continuation of Operation Twist could not help bolster markets today, while the less than cheery reports from Europe and China only added to the growing list of investor worries. Sending up even more red flags was the continued decline of commodity prices, as copper and crude oil, the leading indicators for industrial activity, weakened to levels reflective of the growing concerns surrounding a global economic slowdown [see also Three ETF Charts That Sum Up 2012]. U.S. economic data painted a rather grim picture this morning, as poor jobs data signaled a major struggle in the labor market. U.S. existing home sales also came in worse than expected in the month of May, while other data showed home prices are on the rise. Adding to [...] Click here to read the original article on ETFdb.com. Related Posts: How To Buy The Best Copper ETF Copper ETF (CPER) Cuts Fees ETFs For Rising Copper Prices Copper ETFs In Focus: Five Ways To Play USCF Offers New Type Of Copper ETF (CPER)
Investor confidence was shot on Wall Street this morning, as a slew of lackluster economic data sent U.S. equities into a tailspin. Yesterday’s “semi-comforting” Fed announcement of the continuation of Operation Twist could not help bolster markets today, while the less than cheery reports from Europe and China only added to the growing list of investor worries. Sending up even more red flags was the continued decline of commodity prices, as copper and crude oil, the leading indicators for industrial activity, weakened to levels reflective of the growing concerns surrounding a global economic slowdown [see also Three ETF Charts That Sum Up 2012]. U.S. economic data painted a rather grim picture this morning, as poor jobs data signaled a major struggle in the labor market. U.S. existing home sales also came in worse than expected in the month of May, while other data showed home prices are on the rise. Adding to [...]
