ETF Headline Watch: February 8th, 2012

ETFs making headlines for February 8th, 2012, include Europe ETFs, Consumer ETFs, and Tech ETFs:

Vanguard MSCI Europe ETF VGK, iShares MSCI Germany Index Fund ETF EWG, and the iShares MSCI Italy Index Fund ETF EWI:  All three of these Europe ETFs are worth watching today because of the current debt battle in Greece.  As we all know, Greece is still hammering out terms of a debt deal which would allow the struggling nation to receive EU bailout money.  We also all know the potentially catastrophic consequences that would occur if Greece does not reach a deal and defaults.  Brace yourselves, it is not over yet, and any major Europe ETF such as NYSEARCA:VGK, NYSEARCA:EWG, or NYSEARCA:EWI will react to any outcome.

Consumer Discretionary Select Sector SPDR Fund ETF XLY:  Consumer ETFs including the SPDR Consumer Discretionary Fund ETF might rock the boat today because of corporate earnings reports released by consumer giants McDonalds  MCD and Disney DIS.  McDonalds has reported a 6.7% increase in profits in January of 2012 compared to January of 2011, while Disney has reported a 12% earnings increase in Q4 2011 compared to Q4 2010. Time Warner has also reported a 5% earnings increase in Q4 2011 compared to Q4 2012.  Consumer ETFs are worth watching not only because of today's earnings reports, but also because of yesterday's improved Consumer credit report which indicates that the US consumer is gaining more confidence in the economy, therefore consumer ETFs might soar in the near future.

Technology Select Sector SPDR Fund ETF XLK:  Technology ETFs including the Technology SPDR ETF XLK are worth watching today because of earnings reports released from Sprint Nextel and Cisco.  Sprint Nextel has reported Q4 losses compared to Q4 2010, while Cisco is expected to release earnings after market close today.  Nokia, meanwhile, has announced its intentions to cut 4000 jobs, which cannot be good for the tech sector, so tech sector ETFs including NYSEARCA:XLK are worth a peak.

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Disclaimer: Wall Street Sector Selector trades a wide variety of ETFs and positions can change at any time.