TradingMarkets 7 ETFs You Need to Know for Friday
Traders once again found themselves in a buying mood late in the session, bidding higher technology and consumer cyclical ETFs. REIT ETFs also performed well, while precious metals ETFs came under renewed selling pressure.
Here are 7 ETFs You Need to Know for Friday.
Among the sectors moving higher on Thursday was the consumer discretionary or consumer cyclical sector, which includes stocks like Target
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PowerRating) and Amazon.com
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PowerRating). ETF traders and investors can avoid single stock risk by opting for consumer discretionary ETFs like the ProShares Ultra Consumer Services ETF
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PowerRating), which seeks to produce two times the daily return of the Dow Jones U.S. Consumer Services index.
Strength in technology shares not only helped boost exchange-traded funds like the Technology Select Sector SPDRS ETF
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PowerRating), but also ETFs linked to the tech-heavy Nasdaq 100 like the ProShares Ultra QQQ ETF
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PowerRating), which was up more than 5% late on Thursday.
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Early weakness in Caterpillar
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PowerRating) was atypical of an industrial sector in which most stocks were advancing from the start of the session. The ProShares UltraShort Industrials ETF
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PowerRating) made a new short-term closing low beneath its 200-day moving average on Thursday, losing more than 7%.
Plunging back below its 200-day moving average on Thursday was the iShares Silver Trust
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PowerRating), which lost more than 4%.
Corporate debt continues to attract traders and investors alike, as the iShares iBoxx High Yield Corporate Bond ETF
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PowerRating) breaks out to new, short-term closing highs and extreme overbought territory below the 200-day moving average.
How did news of the biggest real estate bankruptcy in U.S. history affect the market for real estate investment trusts (REITs)? The iShares Dow Jones U.S. Real Estate Index ETF
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PowerRating), which trades below its 200-day moving average, rallied by more than 6% to make its highest close in more than a month.
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