Wednesday’s ETF To Watch: Energy SPDR (XLE)

Markets have continued a trend of uncertainty in recent sessions, with disappointing reports on home sales pointing to a slowdown in economic growth. The surprisingly negative housing stats look likely to lead to a swift drop in consumer confidence, which could ripple throughout global markets. Shrinking demand and declining confidence has hit oil especially hard; prices have now dipped below $72 a barrel. Over the past three weeks, oil prices have lost 13%, plaguing the energy sector with worries over declining margins and low growth for the foreseeable future. This dip in crude has led to cheaper prices at the pump–much to the delight of many Americans–with gas prices roughly 7.6 cents lower than they were just a year go. But this news comes to the dismay of many big oil companies, as well as the investors who had witnessed oil prices peak at nearly double current levels just a few [...] Click here to read the original article on ETFdb.com. Related Stories: Tuesday’s ETF To Watch: Consumer Discretionary SPDR (XLY) Tuesday’s ETF To Watch: International Energy ETF (IPW) Thursday’s ETF To Watch: China Energy ETF