TradingMarkets 7 ETFs You Need to Know for Friday
Financial stocks led the markets lower on Thursday and energy and industrial ETFs sold off on waning optimism about the possibility of the Chinese government taking additional economic stimulus measures.
Here are 7 ETFs You Need to Know for Friday.
The ProShares UltraShort Financials ETF
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SKF |
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PowerRating) was among the chief beneficiaries of the sell-off in financial stocks. The ETF closed strongly higher for a fourth consecutive session, gaining more than 10% late in trading.
Climbing back into overbought territory below the 200-day moving average on Wednesday, the United States Oil Fund ETF
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PowerRating) lost more than three percent on Thursday as the price of crude oil moved lower.
Under particular selling pressure on Thursday was the Industrial Select Sector SPDRS ETF
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PowerRating), which includes stocks such as Union Pacific
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PowerRating) and Cummins Inc.
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PowerRating). Those two stocks alone were down 8% and 12% respectively.
XLI’s loss was gain for the ProShares UltraShort Industrials ETF
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PowerRating), which is inverse leveraged two-to-one to the daily performance of the Dow Jones U.S. Industrial Sector. SIJ was higher by more than 8% late in trading on Thursday.
While some traders have made an ETF pairs trade of the SPDRS Gold Trust ETF
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PowerRating) and the Market Vectors Gold Miners ETF
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PowerRating), buying one and selling the other, both GLD and GDX advanced on Thursday – with the miners outperforming the bullion.
Still hovering in overbought territory below the 200-day moving average was the Semiconductor HOLDRs
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PowerRating). Among the holdings in the SMH are Intel Corporation
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PowerRating), Texas Instruments
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TXN |
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PowerRating) and Applied Materials
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PowerRating).