Daily ETF Roundup: XLE Drops As Crude Retreats, IYW Pops On Apple Earnings

The summer slump continued on Wall Street, as investors weighed a slew of mixed earnings reports against strong housing data. New home sales for June were reported to have risen 8.3% to a seasonally adjusted annualized rate of 497,000; analysts were expecting a rate of 485,000. In earnings news, tech giant Apple (AAPL) easily beat Q3 earnings and revenue forecasts, while auto maker Ford (F) also exceeded analyst expectations. Construction equipment maker Caterpillar (CAT) and telecom giant AT&T (T), however, both missed Wall Street’s earnings expectations [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: XLE Drops As Crude Retreats, IYW Pops On Apple Earnings Following today’s earnings and economic reports, only one major U.S. equity indexes managed to close in positive territory. The tech-heavy Nasdaq ETF rose 0.32%, lifted by stronger-than-expected results from Apple. The Dow Jones Industrial Average ETF slipped 0.17%, while the S&P 500 ETF traded 0.37% lower. In Europe, markets were broadly [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: KBE Pops On Morgan Stanley, XLE Jumps As Oil Tops $108 Daily ETF Roundup: Stocks Surge On Bernanke Commentary, IYW And IWM Pop Daily ETF Roundup: GDXJ Pops Alongside Gold, XLE Rallies Daily ETF Roundup: DBP Pops On Fed Speculations, XLE Rallies Daily ETF Roundup: YCS Pops On Strong Dollar, XLE Rallies