ETF Outlook for Wednesday, July 9, 2014:
The U.S. stock markets continued to slide on Tuesday with the S&P 500 now down 1.1 percent from the all-time high. Amazingly, this is the largest pullback since May and the index has not pulled back more than four percent since April.
A pullback was overdue and this may be the start of more selling as earnings season could add volatility to a rather mundane market.
United States Oil ETF (NYSE: USO)
The price of oil has been falling as the conflict in Iraq has subsided for the time being and the rockets flying in Israel are not putting any pressure on the commodity.
USO has pulled back three percent from the June ...
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