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    Friday's ETF Chart To Watch: SPDR S&P Retail ETF

    Fri, 05/25/2012 - 05:14 EDT - Seeking Alpha
    • Stoyan Bojinov
    • XRT

    By Stoyan Bojinov:Stock markets have endured an up-down week thanks to looming Euro zone debt woes plaguing investors' confidence. Volatility levels remain elevated as the threat of Greece exiting the euro appears to have intensified. On the home front, economic data releases have been largely positive; new home sales data beat expectations, along with stronger-than-expected durable goods orders in April. Major equity indexes appear to be stabilizing, although lingering Euro zone drama may very easily steal the headlines next week [see ETF Technical Trading FAQ].Investors will turn their attention to the latest University of Michigan Consumer Sentiment report later today to gain more insights into the health of the domestic consumer. As such, the State Street SPDR S&P Retail ETF (XRT) is on our radar screen for the day as it may see an increase in trading volumes following this release. Analysts are largely expecting for the sentiment reading to comeComplete Story »

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      By Stoyan Bojinov:Stocks were mixed on Wednesday as euphoria levels cooled off after markets reacted to worse-than-expected housing market data. Investors fretted over the latest existing home sales report; the February figure came in at $4.59 million, which missed analyst estimates of $4.6 million, and also fell short of the previous reading of $4.63 million.

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      By Stoyan Bojinov:Domestic equity indexes were fairly flat on Tuesday, although the bulls gave way in the final hours of trading as ongoing deficit woes stemming from both sides of the Atlantic ocean paved the way for profit taking.

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      By Stoyan Bojinov:Rising yields in Spain and the possibility of Greece leaving the eurozone after the next round of elections have added to the cloud of uncertainty looming over the debt-burdened currency bloc. Surprisingly, optimism prevailed on Tuesday as investors focused on stimulus hopes on the homefront along with news of the European Central Bank endorsing a plan to guarantee bank deposits.

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      By Stoyan Bojinov:Stocks broadly ended the trading session on a sour note as less-than-stellar data paved the way for profit taking pressures. Major indexes on the home front ended up in red territory after consumer confidence came in worse-than-expected; the figure came in at 70.2, falling short of analyst estimates and dipping below last month's reading of 71.6.

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      By Stoyan Bojinov:Stocks are on a roll. Equity indexes climbed higher for a third day this week as bullish momentum kept the winning streak alive on Wall Street. Investors were cheerful to see Bank of America swing a fourth-quarter profit, although Morgan Stanley on the other hand missed estimates. Nonetheless, optimism prevailed thanks to encouraging data from the domestic labor market; jobless claims lifted stocks higher as 352,000 people filed for unemployment benefits, versus the projected 375,000.

    • Are Gold ETFs The Best Defense Against Euro Drama?

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