ETF Trends publisher Tom Lydon appeared on CNBC’s Closing Bell on Wednesday as a late round of buying erased early losses on Wall Street.
In the CNBC segment, Lydon discussed the current state of the markets alongside Steve Grasso of Stuart Frankel and CNBC’s Rick Santelli.
“We’ve seen a lot of volatility and we’ve seen concern about technology stocks, the Nasdaq Composite is still above its 200-day average and it’s still above the February 8 low,” Lydon said. “Even though mutual fund flows are in the negative, we’ve actually seen $128 billion in new money come into equity ETFs. Looking at those long-term trend lines are really important. Earnings are driving this whole thing, although they aren’t getting a lot of love right now, but those long-term trend lines are clearly in place.”
The Dow rose 59.70 points on Wednesday, or 0.2 percent, at 24,083.83. A big gain in Boeing pushed the Dow Jones industrial average higher, breaking a five-day losing streak.
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