This may be a short-term reprieve for stocks when it comes to news out of Europe, but as investors we will take what we are given. Plus the fact there are many other reasons to be bullish on the U.S. and Emerging Market regions.
The "Risk On" trade is definitely back on today and it is evident in the leading sector ETFs this morning. The top performers are:
- iShares Biotech ETF ($IBB) up 2% and hitting a new all-time high!
- SPDR S&P Retail ETF ($XRT) up 1.7% on the back on the weekly retail numbers.
- SPDR Financial ETF ($XLF) up 1.5% as the fears of a banking collapse in Europe subside for the day.
The top performing Country ETFs are the countries that have caused most of the pain throughout the global markets. The top performers are Greece ($GREK), Italy ($EWI), and Spain ($EWP).
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