ETF Outlook for Thursday July 17, 2014
The Dow Jones Industrial Average closed at the highest level ever yesterday and is now 138 points above the psychological level of 17,000. The index was led higher by a 9 percent gain in shares of semiconductor giant Intel (NASDAQ: INTC).
The all-time high celebration will be short lived, however. Stocks around the world are falling after more sanctions were placed on Russia over the Ukraine dispute.
PowerShares Dynamic Media ETF (NYSE: PBS)
The ETF was on the move yesterday after the portfolio’s top holding turned down a large takeover offer. Shares of Time Warner (NYSE: TWX) rose 17 percent to its best level in 12 years ...
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