Earnings Reports Reverse the Trend By Don Dion About this article: On June 12, the S&P 500 index closed at 946 and then proceeded to slide all the way to 879 on July 8, with a retest on Monday (it fell to an intraday low of 869 on July 8). During the nearly one month of decline, we saw momentum shift away from materials, financials and emerging markets, and into health care, consumer staples, telecom and Japan, though they still lag behind the leaders. This week the trend abated as positive earnings news reversed the market trend. We're seeing the emerging markets, materials, financials and technology reassert their leadership. Interestingly, Market Vectors Russia and Market Vectors Gulf States were laggards until oil prices rebounded today, but the oil-service ETFs, such as SPDR S&P Oil & Gas Equipment & Services, recovered earlier in the past week. PowerShares DB Oil is up more than 3.5% today in late trading. If this... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200. More Stories From RealMoney Durable Goods Up Move Down the Tech Food Chain Jobless Claims Still High Bulls' Tenacity Is the Big Question Mark Should You Buy It? Pharmaceutical Product Development Bad News Trumps All Support for Banks Holds, For Now Bummer, Yields Are on the Rise Money on the Line Makes a Big Difference Structured Products: Unsafe at Any Price MORE STORIES FROM REALMONEY

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