Wednesday’s ETF To Watch: KBW Bank Portfolio (KBWB)July 18, 2012 at 04:00 AM EDT
Back-and-forth trading was the dominant theme yesterday as investors digested Ben Bernanke’s testimony before congress along with quarterly corporate performance results. Selling pressures kicked off the day as anticipation surrounding a possible announcement of QE3 intensified leading up to the Chairman’s testimony. Markets were quick to change direction, however, as investors re-focused their attention on better-than-expected results from bellwethers Goldman Sachs and Coca-Cola. Buying pressures were also bolstered by encouraging home builders index data, which came in at 35 versus last month’s reading of 29 [see also Why Buffett Is Dead Wrong On Gold]. Earnings Preview Financial behemoth Bank of America (BAC) is slated to report earnings later today before the opening bell on Wall Street. As such, our ETF to watch for the day is the PowerShares KBW Bank Portfolio (KBWB), which holds Bank of America in its top-ten holdings, allocating close to 8% of its total assets to this industry bellwether. [...] Click here to read the original article on ETFdb.com. Related Posts: Are Big Banks In Trouble? Three ETFs To Watch Three ETFs To Watch This Week: XLF, SIL, INP Friday’s ETF To Watch: KBE Earnings Season Kicks Off: ETF Winners And Losers Three ETFs To Watch This Week: IYW, XLY, XRT
Back-and-forth trading was the dominant theme yesterday as investors digested Ben Bernanke’s testimony before congress along with quarterly corporate performance results. Selling pressures kicked off the day as anticipation surrounding a possible announcement of QE3 intensified leading up to the Chairman’s testimony. Markets were quick to change direction, however, as investors re-focused their attention on better-than-expected results from bellwethers Goldman Sachs and Coca-Cola. Buying pressures were also bolstered by encouraging home builders index data, which came in at 35 versus last month’s reading of 29 [see also Why Buffett Is Dead Wrong On Gold]. Earnings Preview Financial behemoth Bank of America (BAC) is slated to report earnings later today before the opening bell on Wall Street. As such, our ETF to watch for the day is the PowerShares KBW Bank Portfolio (KBWB), which holds Bank of America in its top-ten holdings, allocating close to 8% of its total assets to this industry bellwether. [...]
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