ETFs React to Current Events
Wednesday, January 13th, 2010
Tom Lydon (ETF Trends) submits:
A gaggle of bank CEOs took to Capitol Hill Wednesday morning to discuss the 2008 financial crisis and recent decisions made in the sector. As the testimony continued, stocks and exchange traded funds were mixed.
Wall Street executives stated that they underestimated the 2008 financial crisis and apologized for “risky behavior” and “poor decisions.” But the executives also defended their bonus practices, reports the Associated Press. The Financial Crisis Inquiry Commission is in the midst of a yearlong examination of banks’ practices. Financial Select Sector SPDR (NYSEArca: XLF) is flat so far today. [What the yield curve means.]
