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- U.S. stocks weakened Friday on mixed earnings results and increased selling in growth and internet stocks, according to the Wall Street Journal.
- “It’s specific to the high-valuation, high-growth names, where there’s just a massive overhead supply that seems to have not yet exhausted itself,” Ian Winer, director of equity trading at Wedbush Securities, said in the article.
- Nevertheless, asset managers remain positive on equities as a group on a steadily improving corporate profits and strengthening economic indicators.
- There’s enough support for the S&P 500 to not really worry about a major setback, but that said, it’s not that compelling either,” Wayne Lin, a portfolio manager at Legg Mason, said in the article.
- Additionally, the escalating tension in Ukraine has set some investors on edge.
- “The situation in Ukraine creates uncertainty for markets and traders are probably taking some risk off the table going into the weekend,” Jerry Webman, chief economist at OppenheimerFunds, said in a MarketWatch article.
SPDR S&P 500 Value ETF
For past stories in this series, visit our ETF Spotlight category.
Max Chen contributed to this article.