TradingMarkets 7 ETFs You Need to Know for Friday
Early strength in retailers like Lowes
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PowerRating) and Target
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PowerRating) helped make consumer cyclicals among the better performing ETFs on Thursday. Overbought conditions – above and below the 200-day moving average – continue to characterize both sector and country ETFs.
Here are 7 ETFs You Need to Know for Friday.
Consumer discretionary ETFs like the Consumer Discretionary Select Sector SPDRS ETF
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PowerRating) were home to many of the outperforming stocks on Thursday including Walt Disney Company
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PowerRating) and Ford Motor Company
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PowerRating).
Shares of major oil companies plunged on Thursday on an earnings miss by Exxon Mobil
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PowerRating), driving energy ETFs lower and providing rare upside for the ProShares UltraShort Oil & Gas ETF
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PowerRating). Chevron Corporation
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PowerRating) reports quarterly earnings on Friday.
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The S&P 500 recorded its best month in 17 years in April. Finishing strong were S&P 500-related exchange-traded funds from the popular S&P 500 SPDRS ETF
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PowerRating) to the less widely-traded iShares S&P 500 Index ETF
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PowerRating).
Hedge this S&P 500 outperformance with an inverse ETF like the Proshares Short S&P 500 ETF
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PowerRating), which was up on Thursday after closing lower for the past seven consecutive trading sessions.
Pulling back just one day after closing above the 200-day moving average, the iShares FTSE/Xinhua China 25 ETF
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PowerRating) is one of a growing number of international ETFs that has rallied above its 200-day moving average in recent days. The iShares MSCI Taiwan Index ETF
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PowerRating) is another, up more than 3% intraday on Thursday.
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