ETF Outlook for the Week of August 4, 2014
Last week the S&P 500 suffered a 2.7 percent drop after a series of negative events caused investors to sell first and ask questions later, sending the SPDR S&P 500 ETF (NYSE: SPY) to its lowest level since late May.
No one news item sent stocks lower; it was more like death by a million paper cuts.
The concerns that shook investors included a Chicago PMI that fell by the most since 2008, several poor earnings reports, wage increase-spooked inflation fears, a major Portuguese bank exposed as on the verge of a major bailout, Argentina's default, and a jobs number that was not as strong as the headline appeared.
Related Link: All Eyes On the S&P 500 ETF
All in all, stocks were overdue for ...
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