TradingMarkets 7 ETFs You Need to Know for Monday
Exchange-trading funds with exposure to the financial sector led the ETF market on Friday, a trend that benefited not only financial ETFs but the financials-laden S&P 500, as well. Leveraged short funds took the brunt of a near 300-point day in the Dow. And technology exchange-traded funds, although trading below their 200-day moving averages and increasingly overbought, continued to move higher.
Here are 7 ETFs You Need to Know for Monday
Financial exchange-traded funds regained strength on Friday, with both the ProShares Ultra Financials ETF, UYG
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PowerRating), and the Select Financial Sector SPDRs, XLF
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PowerRating) gaining more than 3%.
The Select Technology Sector SPDRs, XLK
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Leveraged short ETFs pulled back dramatically on the last trading day of the week, with both the ProShares UltraShort QQQ fund, QID
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PowerRating), and the ProShares UltraShort S&P 500 fund, SDS
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PowerRating) lower by more than 4%.
Down for five consecutive trading sessions, the United States Oil Fund, USO
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On the international exchange-traded fund front, traders bid the iShares MSCI Taiwan Index fund, EWT
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PowerRating), was higher by more than 4% after yesterday’s pullback.
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David Penn is Senior Editor at TradingMarkets.com.