Financial stocks recovered a bit on Tuesday after the previous session's drubbing on a bleak global economic forecast, as investors focused on home sales and the upcoming Federal Reserve meeting, with a statement to be issued Wednesday by the regulator.
The benchmark financial sector exchange traded fund, the Financial Select Sector SPDR (XLF) was last up 0.6% to $11.42.
The ETF fell nearly 6% Monday after the World Bank said the world economy would shrink 2.9%, deeper than the 1.7% contraction predicted in March.
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ETF BASIC NEWS June 23, 2009 2:24pm
Financial Stocks Edge Higher Ahead Of FOMC Meeting
Wall Street’s Pity Party
There would be no Tuesday-morning bounce back for Wall Street, which has continued to reel in the face of Monday's economic-related blow-out
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ETF BASIC NEWS June 23, 2009 2:22pm
UPDATE 1-Knight Capital to expand ETF operations
June 23 (Reuters) - Knight Capital Group Inc (NITE.O: Quote, Profile, Research) said it hired three top executives to expand its exchange-traded fund (ETF) capabilities, and has set up a team of sales and trading staff in Jersey City and London.
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ETF BASIC NEWS June 23, 2009 2:20pm
Gold Miner Fundamentals About to Improve
The cost of mining real money (i.e. Gold) out of the ground is about to decrease relative to the cost of Gold (again). Fundamentals DO NOT immediately translate into stock price changes, but they lay the groundwork for stock prices to change at some point in the future. I am intermediate-term bearish on senior Gold mining stocks, but will be looking to buy more once I think the current correction is over. The fundamentals are about to become even more supportive than they are already
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ETF BASIC NEWS June 23, 2009 2:19pm
Time decline in grain harvest
Since March, 2008, temperatures around the world have been below average. Cool weather conditions are starting to impact grain crops, particularly in North America. The possibility of a world grain shortage exists. The U. S. Depart ment of Agriculture (USDA) monthly World Agriculture Supply and Demand Estimate report revealed last week that corn reserves at the end of August, 2010, are expected to fall 9.4% to the lowest level in five years. In addition, analysts are forecasting soybean supplies on August, 2009, at 113 million bushels, down from 130 million bushels estimated by the USDA in May and down from 205 million bushels a year earlier. Reserves will be the lowest since 2004. Wheat production for the crop year ending August is forecast by the USDA to remain stable near 2.02 billion bushels.
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ETF BASIC NEWS June 23, 2009 2:17pm
Commodities recap evening of 23rd June, 09
Bullions remained choppy, as weaker dollar against euro helped gold to retain upside momentum but investors awaited direction from the Federal Reserve's two-day policy meeting starting later in the day. The dollar held steady against a basket of major currencies, and traders said the U.S. currency's strength was weighing on bullion. The global economy is expected to shrink 2.9% this year as per the World Bank said more than the 1.7 percent contraction it predicted in March. The inflationary figures of various economies are still near all time lows and since gold is considered as a hedge against inflation the prices can further remain subdued. The investor demand also remained low this month as the holdings with the world’s biggest ETF remained unchanged.
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ETF BASIC NEWS June 23, 2009 2:16pm
Investing in the ‘New Normal’
In May, real estate developers met in Las Vegas to discuss the future of the American shopping mall. Judging by The New York Times' account of the conference, many developers were reluctant (or unwilling) to entertain the idea that the post-financial crisis world could be much different than the environment that preceded it. Not only were they less-than-attentive to environmental and sustainability concerns, they seemed indifferent to the fact that consumer spending had fallen off a cliff and is likely to remain subdued for years to come. Many, though not all, were waiting for things to get back to normal--the way they were before the crash.
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ETF BASIC NEWS June 23, 2009 2:15pm
United States Commodity Funds LLC Proposes 12-Month Natural Gas ETF

Bottom Line, ETF’s Will Be In 401K Plans In The Next Few Years Benefiting All Of Us

Why You Need to Invest In This Clean Energy ETF (PBW)

Interested In Investing in Solar and Renewable Energy? Try Related ETF’s

It’s Correction Time, Russia’s RTS Index Is First Global Index To Hit Correction Stage, ETF: EEM

Technology ETF Not Living Up To Expectations (XLK)

WallachBeth Capital Beefs Up Top Ranks
Institutional brokerage firm WallachBeth Capital has hired Stephen Markowitz as a managing director.
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ETF BASIC NEWS June 23, 2009 8:34am
Don’t Ignore Indonesia
The world's third-largest democracy boasts a strong economy and a near-term catalyst for further gains, writes Carl T. Delfeld of Chartwell ETF Global Report.
One country often overlooked by investors is Indonesia. This is unfortunate given that it has the world’s fourth largest population, is the world’s largest Muslim country and is the world’s third largest democracy. (India and the United States are the two largest—Editor.)
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ETF BASIC NEWS June 23, 2009 8:33am